Full text of Commercial and Financial Chronicle : May 23, 1914 : Electric Railway Section, Vol. 98, No. 2552

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Electric Railway
SE C T IO N
OF

TH E

C ommercial & y iM w c iA i P hronicle
Copyrighted In 1914 according to Act of Congress, by W ILLIAM B. DANA COMPANY, In office of Librarian o f Congress, Washington, D, C.

Vol. 98.
E

l e c t r i c

NEW Y O R K , MAY 23, 1914.
R

a i l w a y

S e c t i o n .

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FREIGHT LOCOMOTIVES OF N E W SPECIAL
CHARACTER.
No observer who has given any considerable at­
tention to the subject of transportation can have
failed to have the conviction borne in upon him that the
next Census period will have witnessed a universal
development in the application of electric power to
the carriage of freight. One of the pioneers in the
construction of electric motors, Mr. William J.
Clark, has predicted that within a few years the
motor vehicle may transport upon the highways,
for equal or longer distances, a goodly portion of what
is now to be considered main-line freight traffic.
Three years ago a committee on electrical vehicles
reported that sixteen times as much freight was
hauled on roadways as on railroads, that is to say
that the tonnage of trackless haulage in this country
is sixteen times that of track haulage.
Taking the development and adoption of electric
traction upon rails in its own sphere by itself, putting
aside the development of steam, gasoline and similar
engined trucks, wagons and cars, there can be no
question but that electric traction upon rails in com­
bination with electrical and mechanical methods for
handling commodities at terminals and warehouses,
and in co-operation with the motor vehicle, will work
radical changes in freight handling and transportation
from the points of origin to that of its ultimate de­
livery. The expenses of transportation should be
greatly reduced just as experience is showing that,
since the first installations of electric operation and
locomotives during the last decade, the cost of opera­
tion has been diminished while the ratio of efficiency
has been increased.



No. 2552.

Side by side with the construction of the most
powerful locomotives yet produced, rivaling and
exceeding the present tractive capacity of the great­
est steam locomotives, electric railway operation/has
developed a second distinctive operative form,
in the highly eflicient small unit, adaptable to a very
wide range and character of service. For many years
mining and other forms of industrial railways in
terminals, factories, shipyards and engineering;works
have been an important factor in freight transporta­
tion. Hitherto their numbers, diversity and multi­
plication have escaped notice, as official statistics
compilers have passed them by, practically ignoring
these useful units, which have been spreading their
energies in private, secluded properties of tracks.
There are at present estimated to be more than 15,000
electric locomotives being operated in this countryupon railwaysjof such general character, ranging in
capacity upwards from a few horsepower each, and
their number is increasing at the rate of nearly 1,000
a year. The total tonnage now hauled by them
amounts tojnearly one-third of the present entire
freight tonnage of all American steam railroads,
though the length of haul is comparatively short.
In many instances the cost of haulage per ton mile
approximates as low as one cent, including mainte­
nance and depreciation. The results from the elec­
trical operation of these mining and industrial rail­
roads have shown that the investment in them is fully
warranted, gauging it by the standards of net effi­
ciency and Greater flexibility compared with steam and
other motive power.
The first electric mining locomotive in the United
States began its operation at Derby, Conn., in 1887,
the introduction of electric traction on a commercial
scale in the mining field following in 1889 or 1890.
Two of the original locomotives are still in daily
use and have as much historical association as the
“ Rocket” or the “ Puffing Billy” of Stephenson,
which are preserved as memorable relics in England.
The electric mine locomotive is gradually relegat­
ing to the background both man and animal haulage
in the mines as the demand grows more severe for
increased capacity and quicker output. How this
locomotive has been developed and what are the types
of engine now employed in coal mines have been well
described by Mr. G. M . Eaton in a paper read before
the American Institute of Electrical Engineers at
Pittsburgh in April.
Availability of headroom has, next to the demand
for increased capacity, determined chiefly the form
taken by the mine locomotive. It had to take the
place of the mule and go into thin seams where that
useful animal could not penetrate. In appearance
and design the mine locomotive soon settled down to

2

E L E C T R IC R A IL W A Y S

an ironclad machine with motors under cover, and
virtually under an inverted box. The earliest speci­
mens show the frames placed inside the wheels, but
protection and space economy soon made the outside
cover almost universal. The machine had to be of
the staunchest construction, capable of withstanding
damage from roof falls and collisions. Low height,
short overhang, compact design, yet easiness of in­
spection, were the main features in its development.
The clumsiness and weight of the first engines were
gradually reduced, while the haulage power increased.
One of the earliest locomotives recently scrapped
after seventeen years’ service weighed 43,550 lbs.,
and had a block displacement of 582.5 cubic feet, or
3.88 cubic feet per horse-power. A locomotive of
to-day’s construction, equipped with the same capa­
city of motors, driving through double gearing and
side rods, would have only 231 cubic feet block disdisplacement, or 1.54 cubic feet per horse-power.
After rather a long stage in this early use in main
haulage, the locomotives entered the gathering ser­
vice and lighter locomotives were built to negotiate
flimsy, rough track in rooms. At first the gather­
ing machine was simply a small edition of the mainhaulage machine, but now it is equipped often with
a reel carrying a single conductor cable, and running
steel rails but no trolley wire into the rooms. Some­
times the reel is fitted with a double conductor cable,
when unbonded steel rails, or wooden rails, can be
employed to lessen the danger in case of blasting or
gaseous condition of the mine.
In the elimination of undesirable features, the ap­
plication cf the storage battery has been found most
useful for the gathering locomotive. Equipped with
such batteries of the modern developed type, such
as are well able to resist mechanical shocks, these
locomotives promise much practical use. The elec­
trical designs, no less than the mechanical improve­
ments, have made a great advance. Commutating
poles are of particular advantage in mine service,
where there is no chance of coasting. Similarly in
controllers and the forms of trolley there have been
constant improvements, with the result of lessening
the strain so that the pressure on the trolley wire
may remain approximately constant, regardless of
the height of the trolley. Both the maximum and
minimum weights of the two-axle mine electric loco­
motive were established in the year 1899, and as
these have obtained so long, the limits seem pretty
definitely established.
The useful small units that are busily engaged all
over the country in pushing and pulling freight, in
factory and industrial plant yards, switching and
assembling cars, connecting and hauling the raw ma­
terial and finished product over the tracks, uniting
forge and workshop with the treat trunk lines, have
lately admitted to their ranks a new type of unusual
design. Three electric locomotives have just been
builc for the Pennsylvania lines West to be used for
handling cars at the Cleveland ore docks. The fea­
ture that distinguishes them is that they are fitted
with side arms controlled by compressed air, and are
lowered and depressed at the will of the engineer in or­
der to grapple, push and haul the ore cars. Couplings
are dispensed with, as in operation it is found that
single cars or trains can be easily handled, the cars
being shifted and cut out with less time and trouble
than with the old mode of linking up locomotive and
cars. The engines are of Bald win-Westinghouse
make and have a weight of 25 tons. They run on
narrow-gauge parallel tracks inside the car tracks,
and the power is obtained from two rails lying inside
the rails on which the locomotives run.
UNPROFITABLE FARES IN ELECTRIC
R A IL W A Y DEVELOPMENT.
Though there is good reason to regard with con­
siderable pride and satisfaction the general results
of the census taken last year in exhibiting the
development and progress of the electric railways



[Vol. XCVIII.

of the country, such feelings will be alloyed with some
disquiet on a closer analysis of the financial returns
in their operation. Engineering invention, bold
pioneering, application of new methods and intelli­
gent training of operators have marked the forward
movement of the industry fully as much as in the
earlier stages of its growth. But managers who
examine the percentages of increases and decreases
in the income account in the two last five-year
periods since 1902 are noting with apprehension that,
taking the industry as a whole, there is a large
shrinkage in the surplus left as a working balance
for the companies, after paying all costs of operation
and charges. Supplementing the figures given out
by the census bureau, a comparison made by the
American Electric Railway Association shows that
whereas the 1907 census gives a decrease from the
previous quinquennial figures of 5.G per cent, the
decrease of such surplus in the 1912 census was no
less than 2G.1 per cent in the similar period.
To what cause is this shrinkage to be attributed ?
it may well be asked. It can hardly be regarded
as a healthy symptom. Should it be taken as an
indication that there has been a check upon the free
expansion and development of electric railways in
the failure to reap, in actual cash, returns commensur­
ate to the skill, labor and pains bestowed on their
operation?
Like the steam railroads, electric railways have
been subjected during the last few years to the
pressure of popular clamor demanding rapid transit
with cheaper fares. City ordinances have been
imposed which experience has shown have reduced
the standard fares to a level below that necessary
to give an adequate return on the capital invested
and expended on the street railways under the new
conditions.
Glaring instances of this process are to be seen
to-day in Cleveland and Toledo, where controversies
are raging over the rate of fare the franchised com­
panies are entitled to ask to give them a fair margin
on the right side in remuneration for their services.
The amended ordinance under which the Cleve­
land Railway operated its property to run for twentyfive years from July 1911, according to the preamble,
was to assure to the owners of the street railway,
on the one hand, security as to their property, and
a fair and fixed rate of return thereon, and to the
public, on the other, the best street railway trans­
portation at cost, consistent with that security and
the certainty of the fixed return. The city, through
its street railroad commissioner, acting as the tech­
nical adviser of the city’s council, prescribed the
service to be given; and the ordinance further pro­
vided for regulation of the rates of fare. There
were no fewer than ten different rates of fare pre­
scribed, ranging from "4 cents cash, seven tickets
for 25 cents, 1 cent transfer, no rebate” , as a maxi­
mum, to “ 2 cents cash fare, 1 cent transfer, 1 cent
rebate” , as a minimum. The fare settled down
to “ 3 cents cash, 1 cent transfer, 1 cent rebate.”
Thirty-five months’ operation from March 1910,
three months after the acceptance of the original
ordinance, sufficed to show a large deficit.
Approximately the true cost of service amounted
to S3,000,000 more than resulted from the proceeds
of the fares prescribed after providing for the G%
rate of return on capital value as fixed by the ordin­
ance.
_
The cost of carrying a revenue passenger during
the three ordinance years of the three-cent fare
was, on the average, 4.29 cents. The company,
realizing that the cost of the service furnished was
more than the receipts from the rates of fare pre­
scribed and that the security against the impairment
of the capital value of its property was threatened,
asked for arbitration. The arbitration board unani­
mously decided that there should be an increase in
the allowance to the company, both in respect to
“ operating expenses” and in respect to the “ main­
tenance, renewal and depreciation” charges.

May , 1914. J

ELECTRIC RAILWAYS

T h e m a in con clu sio n fr o m th e C le v e la n d experi­
ences is t h a t ,t h o u g h th e in terest a n d th e respon si­
b ility o f b o th th e c o m p a n y a n d th e c ity ap p ear to be
id en tical a n d in th e n atu re o f a tru stee sh ip , y e t
under th e term s a n d lim ita tio n s p rescrib ed , a la u d a ble
pu rp o se w as fru stra te d an d th e serv ice, in d ee d ,
ren dered in a d eq u a te a n d u n sa tisfa c to ry becau se th e
fa re s, ow in g to a p o p u la r d e m a n d , were p la c ed
on to o low a b asis to m ee t p r a c tic a lly th e cost of
o p e r a tio n .
T h e p o litica l h a za rd in a tte m p tin g to
raise th e rates to m a k e th e o p eration of passen ger
tra n s p o rta tio n a s tr ic tly com m ercial p roposition w ill
so on er or later cause p riv a te cap ita l to w ith d raw its
fu n d s for in v e s tm e n ts in enterprises where th e d iv i­
den ds an d preserv a tion o f prin cip al are m ore certain .
T h e a b a n d o n m e n t o f th e n eg otiation s a fe w d a y s
a go b etw een th e T o le d o C ity C o u n c il’s fran ch ise
c o m m itte e an d th e T o le d o R a ilw a y s & L ig h t C o .,
n o tw ith s ta n d in g th e lesson th a t m ig h t h av e been
learned fro m C le v e la n d , has sh ow n w h a t a stu m b lin g
b lo c k is th is arb itra ry 3 cen t fa re.
T h e c o m m itte e
in siste d on th a t fla t rate for t w e n ty -fiv e y e a r s, w hile
th e presid en t o f th e c o m p a n y sto o d firm for a y e a r ’ s
tria l o f th e 3 -c e n t fare a n d th en periodic revision
o f th e rate b y th e C ou n cil a t in te rv a ls o f fiv e y ea rs.
A ll im p o rta n t details o f th e franchise h ad been
agreed u p on b u t th is.
T h e in sistence u p o n th e low
rate a n d th e ch an g in g con d ition s o f th e in d u stry —
e v e n th o u g h th is p articu lar ph ase o f a p o p u la r d e­
m a n d m a y pass a w a y w ith tim e — has je o p a rd ize d
a reason able s e ttle m e n t.
T h e fra n ch ise , as offered
b y th e c o m p a n y , m a y be s u b m itte d to th e p op u lar
v o te an d w in su p p o rt on its reason ablen ess in a
ch an ge o f p o p u la r se n tim e n t.
O n th e o th er h a n d ,
th e a d v o c a te s o f m u n icip a l ow n ersh ip are a tte m p tin g
t o ta k e a d v a n ta g e o f th e situ a tio n to push their ow n
proposal fo r th e a cq u isitio n a n d op eration o f th e
stre et railw ay lines o f T o le d o .
T h e cases of C le v e la n d an d T o le d o are b u t ty p ic a l
o f do zen s o f oth er places w here th e n o to rie ty o f th e
M a y o r J oh n so n a g ita tio n fo ste r e d a p o p u la r cry
fo r th e th re e-ce n t fare w ith o u t du e reflection as to
th e u ltim a te effect u p o n th e c o m m u n ity .
I f p riv a te
cap ita l is discouraged in a p p ly in g itself to electric
railw ay tra n sp o rta tio n as a so u n d in v e s tm e n t, it is
a s certain as a n y th in g can be th a t n o t o n ly will th e
a d v o c a te s of cheaper fares fail in th eir principal
o b je c t o f g e ttin g rap id an d c on v en ien t tra n sp o rta tio n ,
b u t th e y w ill, in th e lo n g ru n , saddle th eir re­
sp e c tiv e c om m u n ities w ith g reater financial b u rd en s,
t o th e im p a irm e n t o f th eir m u n ic ip a l c red it.
M any
in v e sto rs h a v e a lread y reached th e con clu sion th a t
the rising cost o f la b o r, m a teria l, in ju ries an d d a m ­
a g e , an d th e increase in tax es a n d m u n icip a l bu rden s
are su fficien t to m ak e th e tra ctio n b u sin ess in trin sica lly
u n p ro fita b le .
A d d to these m ore restriction s of
in a d e q u a te fares in th in ly p o p u la ted districts w hich
c a n n o t be o ffset b y a surplus arising fro m d e n sity
o f tra ffic on th e sh ort haul and in th e central parts
o f a street railw ay s y s te m , and m u n icip a l jealou sies
th a t im p ed e th e o p eratin g c o m p a n y fro m n eedful
expan sion an d fittin g itself to m ee t co m p e titio n of
n ew rivals in tra n sp o rta tio n , such as th e trackless
m o to r b u s, and stra n gu la tio n is sure.
If th e electric tra ctio n c o m p a n y is really “ selling
g oo d s b elo w c o s t” there can be b u t one en d unless
the rem ed y is fo u n d an d applied w ith o u t d e la y or
h esita tio n .
T h e electric railw ay s are fa cin g new
p ro b lem s, for fresh fa cto rs are enterin g y ear b y y ea r
into their field w hich m u st be reckoned w ith .
R ea so n a b le s ta b ility o f con d ition s can n o t be assured
for th e c o m p a r a tiv e ly sm all term s of origin ally
tw e n ty -fiv e and th en fifteen an d ten y ear co n tin u a ­
tion p eriods, w hich it is b ecom in g c u sto m a r y for
m u n icipalities to insist upon on th e lines o f th e “ in­
d e te rm in a te fra n ch ise” and “ in term ed iate p e rm it”
featu res of th e W is c o n sin P u b lic U tilit y L a w .
A
fu n d a m e n ta l requ isite is to ascertain how far it is
possible for an electric railw ay c o m p a n y to carry
th e passenger under ex istin g fa res, to calcu late w h a t
is a reasonable rate b y an im p a rtial in v e stig a tio n




3

o f th e cost o f passen ger an d freigh t tra n sp o rta tio n
and to la y d o w n an a cce p ta b le ration a l basis for a
flexib le a d ju s tm e n t o f rates an d fa re s, as m a y be
n ece ssary fr o m tim e to tim e .
M u c h o f th e m isco n cep tio n and m a n y o f th e o b ­
stacles th a t h a v e p rev en ted a h a r m o n io u s u n der­
sta n d in g and m u tu a lly b en eficial a greem en t betw een
th e p u b lic users an d th e electric railw ay com p an ies
in th ese and o th er u n fo rtu n a te d isp u tes w hich
seriou sly distu rb th e w h o le railw ay fie ld , m ig h t
h a v e b een a vo id ed h ad there b een a v a ila b le a u th ori­
t a t iv e , a ccu rate an d d eta iled in fo rm a tio n relatin g to
th e econ om ics o f th e su b je c t o f rates o f fa re.
The
im b ro g lio s th a t h a v e arisen en m p h a size th e need an d
im p o rta n c e o f th e w ork u n d ertak en b y th e A m e r ic a n
E le c tric R a ilw a y A sso c ia tio n th ro u gh its B u re au o f
F a re R ese a rc h .
T h e B u re au has n ow b eg u n to
a sse m b le , com p ile and d istrib u te th e d a ta and s ta ­
tistics o f th e fin an cial op eratin g results o f its m em b er
com p an ies all o v er th e c o u n tr y .
W i t h th is au th en tic
m aterial in h an d th e B u re a u will m a k e a s tu d y o f
th e con d ition s t h a t a ffe c t th e rate o f fare received
or th e operatin g expenses o f electric ra ilw a y s.
In
th is m eth o d it is h op ed to brin g a b o u t a gen erally
recogn ized
practice
in d e te rm in in g th e
fa c to rs
a ffe ctin g th e cost o f passen ger serv ice , in clu din g
in v e stm e n t ch arges, o p eratin g ex p en ses, len gth of
haul and tra ffic d e n sity .
I f th is ta sk is w isely
a cc o m p lish ed , w ith th e w illing c o -o p era tio n o f th e
c o m p a n ie s, th e v a lu e o f th e b en efit to th e w h ole
electric in d u stry will be in estim a b le.
W id e r k n o w l­
edge of sou n d principles, b ased on a ctu al exp erien ce,
will m ak e m ore ea sy th e so lu tio n o f p ro b lem s in
u rba n service relatin g to th e a d e q u a c y o f presen t
fares an d th e fre q u e n cy of service d e m a n d e d , in
su b u rb an service th e reason ablen ess o f ex ten d in g
lines for th e sa m e fla t fare or on th e zon e s y s te m , and
in in teru rb an service q u estio n s o f in a d eq u a te rates
an d alleged discrim in a tio n s betw een variou s lo c a litie s.
F o r all th ese m a tte r s th e p ro p er s t u d y is th e c o st o f
serv ice .

SOUTHERN
•

S T A T E S E LE C T R IC R A I L W A Y
PROGRESS.

A sense o f general sa tisfa c tio n will h av e been de­
rived b y electric railw ay in terests fro m th e p relim i­
n a ry figu res o f th e q u in q u en n ia l report so fa r g iv en
o u t b y th e C en su s B u reau a t W a s h in g t o n .
A s yet
it is n o t possible to a n a ly ze fu lly th e returns o b ta in e d
last y ear to com p are th e rela tiv e progress m a d e in
each section of th e c o u n try .
T h e a g g re g a te s, h ow ­
ev er, a lread y kn ow n are im p o sin g , a n d a fair ju d g ­
m e n t can be fo rm e d on th e position o f th e in d u stry
in particu lar S ta te s.
T a k in g th ose o f th e S o u th ,
sta rtin g in 1 9 0 2 , a t th e begin n in g o f th e decad e under
rev ie w , as th ose in th e rear o f th e a d v a n c in g h o st,
th e electrical in du strial C en su s returns o f railw ay an d
p la n ts in op eration a t th e end o f 1 9 1 2 ju s tify th e claim
th a t th e q u ick en in g influence o f electricity in c o m ­
m ercial use is n ow here m ore a p p a re n t.
In and
arou n d th ose centres where th e n ew S o u th has been
d e ve lop in g its energies, esp ecially since th e b eg in n in g
o f th e presen t c e n tu ry ,
electric
pow er sta tio n
progress— th ro u gh th e a g en cy o f h y d ro -ele ctric p la n ts
an d th e use o f electricity for lig h t, pow er an d its
m a n y oth er diverse a p p lica tio n s— is v e ry m a r k e d , a c­
cordin g to th e figu res.
U n fo r tu n a te ly th e returns
are n o t a lw a y s strictlyr g iv en on th e sa m e fo o tin g , as
th e electric in d u stry is n ot org an ized an d sta n d a rd ized
so sy ste m a tic a lly as in th e N o r th e a ste r n an d M id d le
W e ste r n S ta te s , b u t th e fig u res, if a n y th in g , seem to
be an u n d erestim ate rather th a n to err on th e side of
excess.
T h e re are m a n y p ro jec ts on th e p o in t o f
co m p letio n w hich were n o t b ro u g h t under th e C e n su s;
an d so m e acco u n t m u st be ta k e n also o f m ixe d stea m
a n d electric railroads th a t were p u rp o sely o m itte d
b y th e en u m era to rs.
T o brin g th e S o u th ern S ta te s under th e te st o f
com p arison it w ill b e w ell to sta te th e p ercen tage o f
increase under th e chief heads relatin g to th e w h ole

4

ELECTRIC RAILWAYS

o f th e U n ite d S ta te s .
A t th e en d o f 1 9 1 2 th ere were
3 0 ,4 3 7 m iles o f electric rail vay lin e.
In th e decad e
o f 1 9 0 2 -1 9 1 2 th e m iles o f line sh ow ed an increase
o f 8 2 % a n d th e car m ilea ge (in clu d in g p a ssen g er,
ex p ress, freig h t a n d su p p le m e n ta ry cars) 6 7 % .
The
to ta l h orse-pow er in creased 1 6 9 % .
O f th is , th e
h orse-p o w er p ro d u ced b y ste a m a n d gas en gin es,
in clu d in g tu rb in e s, a m o u n te d to 3 ,1 9 3 ,7 4 4 , sh ow in g
1 4 3 % in crease since 1 9 0 2 .
T h e h orse-p o w er g en ­
era te d b y w a ter-w h eels w a s 4 7 1 ,3 0 7 , sh ow in g th e
en o rm o u s increase of 8 5 8 % in th e sa m e p e rio d .
The
gen eral rev en u e fro m passen gers carried increased
107% .
O u t o f th e general rev en u e, tra n sp o rta tio n
a cc o u n te d for 1 2 0 % increase a n d n o n -tra n sp o rta tio n
sources 3 0 9 % .
T h e n et in com e increased 1 0 2 %
a n d th e d iv id en d s p a id 2 2 5 % i lcrease.
T a k in g n o w ele v e n S ta te s o f th e S o u th , in clu din g
T e x a s , th ese ran k accord in g to th e m iles of electric­
o p era ted lines in each as fo llo w s: T e x a s 5 9 7 , V irgin ia
4 1 8 , W e s t V irg in ia 3 6 9 , G eo rg ia 3 4 0 , T en n e ssee 2 5 9 ,
A la b a m a 2 2 5 , L o u isia n a 1 9 8 , S o u th C a ro lin a 1 6 8 ,
N o r th C a ro lin a 1 5 4 , F lo rid a 1 4 0 , M ississip p i 1 0 7 .
In th e h orse-pow er in crease, th e lead in g S ta te s of
th o se n a m e d are F lo rid a , 5 3 4 % , T e x a s 4 7 7 % , V ir ­
gin ia 3 9 8 % ste a m and 1 3 2 % w a te r , N o r th C aro lin a
3 9 0 % s te a m a n d 2 4 5 %
/a t e r .
G eo rg ia sh ow s th e
h igh est increase in w a ter-w h eel electric-pow er p ro­
d u c tio n , th is b ein g 4 5 8 % , as a ga in st an increase o f
1 2 7 % in it s h o r s e -p o v . er gen erated o th erw ise .
F lo rid a
h as 1 ,4 0 0 horse pow er g en era ted b y w a ter w h eels;
b u t th is is th e sa m e as ten years a g o , th o u g h its other
h orse-p o w er has increased n ea rly e ig h tfo ld .
Texas
h eads th e list in th e increased p ercen ta ge o f passenger
reven u e w ith m ore th a n th ree tim e s m ore th a n th a t
o f th e general average o f th e c o u n try .
O f th e oth er
S o u th e rn S ta te s giv in g returns under th is h ea d , o n ly
S o u th C a ro lin a an d L o u isia n a fa ll b elo w th e general
a v e ra g e .
A s regards th e increased p ercen tage in
n et in c o m e , N o r th C a r o lin a ’ s 1 ,7 7 8 is o u t o f all p ro ­
p o rtio n to th a t o f th e o th ers, ow in g to th e fa c t th a t
its in com e w as o n ly $ 2 1 ,1 3 0 in 1 9 0 2 an d has n ow
risen t o $ 3 9 7 ,0 0 0 in 1 9 1 2 .
V irg in ia ’s n et in com e at
th e la st C en su s sh ow ed an increase o f 7 5 2 % o ver ten
y ears a g o , T en n essee 4 0 7 % , W e s t V irgin ia 3 3 7 %
and T exas 3 1 0 % .
T h e S te v e n s C reek h yd ro -ele ctric in sta lla tio n , de­
sign ed to su p p ly th e tra c tio n a n d in du strial needs
o f A u g u s ta , G a ., is one o f th e d e v e lo p m e n ts in stan cin g
th e progress o f th e S o u th in th is sph ere.
O peration
w as recen tly b egu n b y th e G e o rg ia -C a r o lin a P ow er
C o ., th e engineering an d con stru ction w ork h a v in g
b een carried o u t b y th e J . G . W h it e E n gin eerin g
C o rp o ra tio n in th e course o f tw e n ty m o n th s.
The
p lan s in v o lv e d th e harnessing o f th e S a v a n n a h R iv e r
b y th e b u ild in g o f a d a m a b o u t nine m iles a b o v e A u ­
g u s ta , w here th e S tev en s C reek flow s in to th e river.
T h e S a v a n n a h R iv e r ’s initial w aters rise in th e
m o u n ta in s o f N o r th C aro lin a an d th e B lu e R id g e
M o u n ta in s of V ir g in ia .
T h e basin o f th e S a v a n n a h
fo rm s a large area o f rolling agricu ltu ral co u n try
su ita b le for th e exten sion o f tro lley lines rad iatin g
fro m A u g u s ta .
T h e A u g u s ta -A ik e n R a ilw a y & I n ­
du strial C o rp o ra tio n an d th e V irgin ia I t y . & P ow er
C o . o f R ic h m o n d h a v e con n ection s w ith th e d istrict.
T h e w hole p ro jec t derives a d dition al in terest fro m
th e ex ten t to w hich th e local auth orities h av e been
able to use th e p relim in a ry experience and w ork o f
th e F ed era l, S ta te an d m u n icip a l bodies as regards
th e p h y sica l featu res o f th e d istrict.
A su rv ey and
ex a m in a tio n o f th e S a v a n n a h R iv e r goes b ack to th e
R iv e rs an d H a r b o r s A c t o f 1 8 8 8 , w hen C on gress
a u th orized th e im p r o v e m e n t of th e n a v ig a tio n fro m
A n d e r so n v ille , G a ., d ow n to th e p ort o f S a v a n n a h .
In a distan ce o f 106 m iles a b o v e A u g u sta th e S a ­
v a n n a h R iv e r has a fall o f a b o u t 4 0 0 fe e t, or an a ver­
age fall o f a b o u t 4 feet per m ile, an d im m e d ia te ly
a b o v e A u g u s ta before th e d a m w as con stru cted there
w as a slope o f 10 feet in a m ile .
I h e U n ited S ta te s
G eo lo g ic a l S u r v e y b eg an m a k in g ex am in ation s o f
th e riv e r’s flo w in 1 8 9 6 and o b ta in ed com p lete
m e a su re m e n ts o f the v o lu m e o f w ater drained from




[Vol . XCVIII.

th e river w a ter-sh e d an d local drainage area du rin g
th e fo llo w in g ten y ea rs.
( A u g u sta itself h ad in co -o p era tio n w ith th e U n ite d
S ta te s W e a th e r B u reau a t a sta tio n a t H ig h w a y
B rid g e b egu n so far b a c k as 1 8 7 5 to ta k e o b se rv a ­
tio n s o f th e river h eig h ts.
T h u s th e en gineers
fo u n d rea d y a t h an d in official reports rela tin g t o
th e w a ter pow ers o f G eo rg ia a n d fro m th e G o v e r n ­
m e n t’s records c om p lete d a ta fro m w h ich tr u s t­
w o r th y e stim a tes cou ld be dedu ced to d eterm in e th e
average flo w o f w a ter to be dealt w ith .
A n d th e
records o b ta in e d g a v e th e lo w est d a ily flo w for tw e n ty
years in cu bic feet per sec o n d , th e low est a vera ge
w e ek ly flo w a n d th e low est average m o n th ly flo w
in th e period o f t w e n ty -e ig h t years to 1 9 1 2 .
B u t it w as n ecessary fo r th e engineers to fo rm their
p lan s on th e e x p e c ta tio n o f th e h igh est v o lu m e o f
w ater to be c on trolled .
H ere again th e ex h a u stiv e
stu d y m a d e p rev io u sly b y th e a rm y engineers on
th e flo o d s o f th e S a v a n n a h R iv e r cam e in ex tre m e ly
u sefu l.
T h e o b je c t o f th e stu d y w as to p ro te ct
A u g u s ta fro m th e in ju ry done b y such flo o d s.
The
records w en t b a c k to 1 7 9 6 .
Since th a t y ear there
h a v e been seven disastrous years w h en th e w a ters
rose a t th e A u g u sta c ity gau ge 3 4 feet an d m o r e .
T h e h igh est H ood w as in 1 9 0 8 , w hen th e gau ge regis­
tered 3 8 .8 fe e t.
T h e engineers calcu lated th a t th e
m a x im u m flo w w as a b o u t 3 0 0 ,0 0 0 cubic feet per
sec o n d .
T h e y con clu d ed th a t it w as w ith in reason
to p ro v id e for a possible m a x im u m flo w o f 4 6 7 ,0 0 0
cu bic fe et per sec o n d .
O n th is assu m p tio n th e en ­
gineers w ho h av e carried o u t th e present h y d ro -e le c ­
tric d e v e lo p m e n t h a v e designed their p la n t for th e
sta b ility o f th e d a m a n d pow er house to m ee t an
ex trem e m a x im u m flo w o f 4 5 0 ,0 0 0 cubic fe et per
seco n d .
T h e sp illw a y o f th e d a m is a b o u t 2 ,0 0 0 feet lo n g ,
a llow in g a d ep th able to pass 12 feet o f w ater over th e
crest, w hich is in excess o f th e m a x im u m recorded
flo o d .
T h e lake m ad e b eh in d th e d a m has ap p rox i­
m a te ly an area o f 4 ,0 0 0 acres.
T h is allow s for th e
o p eration o f th e h y d ro -ele ctric p la n t on a n y desired
load fa cto r a t all tim e s a n d will be su fficien t to eq u a ­
lize the d a ily flu c tu a tio n s du rin g the w eeks of low flo w .
T h e a v a ila b le n orm al delivered horse-pow er is to
be 2 0 ,0 0 0 , b ased on a w e ek ly lo a d fa cto r of 3 3 . 3 3 % .
T h e tu rb in es will be a b le to deliver th e full w ater
o u tp u t o f th e p la n t a t h eads a b o v e 2 2 .8 feet w h en
there is su fficien t flo w in th e river.
T h e d a m is of
cyclop ean con crete o f th e g r a v ity t y p e .
T h e con ­
crete used in th e c on stru ction w as 8 0 ,0 0 0 cubic y a r d s .
T h e pow er house has d im en sio n s o f 51 b y 3 8 8 feet
an d will con tain ten m a in an d tw o exciter u n its.
E a c h m ain tu rb in e u nder a n orm al head of 27 feet
will discharge a b o u t 9 8 0 cubic feet per second at
n orm al g a te , or 1 ,2 0 0 cubic feet per second at full
g ate o p en in g .
N a v ig a tio n on the river is carried
on b y a lock p laced th ro u g h th e d a m b etw een th e
p ow er-h ou se an d th e sluice g a te s, th e lock h avin g
a n orm al lift o f 27 fe e t.
P ow er is tra n sm itte d b y a dou b le-circu it steel
tow er 4 4 ,0 0 0 -v o lt line b etw een th e pow er house and
A u g u s ta , w hile a single c 'rc u it w o o d -p ole line carry ­
in g 4 4 ,0 0 0 v o lts c o n v ey s th e pow er up a nother v a lley
to th e present railw ay sta tio n near A ik e n for th e use
o f th e A ik e n tro lle y lin e.
T h e current is tra n sfo rm ed
to th e required v o lta g e in fire-p ro of station s a t A u ­
g u sta , C le arw a te r an d A ik e n .
T h e electric en ergy h ith erto used in A u g u sta a n d
th e su rrou n din g c o u n try , w hich before th e d e v e lo p ­
m en t o f th e con served S a va n n ah R iv e r ’s pow er had
been gen erated fro m coal and w o o d , w as transferred
to th e h yd ro -electric station a t S te v e n s C re e k ,
T h e ev en t w as d u ly celebrated b y a g a th e :in g o f A u ­
g u sta ’ s citizens a n d in du strial m a g n a te s, a n d b y
pro m in en t b an k ers and engineers fro m variou s parts
o f th e co u n try to w itn ess th e in au gu ration o f an en­
terprise represen tin g an in v e stm en t of over $ 3 ,5 0 0 ,­
0 0 0 , w hich m ea n s m u ch to th e en rich m en t of th e
S o u th th ro u gh th e econ om ic u tilization o f its g ie a t
n atu ral resources.

Electric R ailways.
S E C U R IT IE S A N D R E P O R T S
This is one of our six Sections or Supplements. In using the series it is to bo remembered that they are inter-dependent
publications, completo only as a whole. If utilized together, and with the fresh items of news the “ Chronicle” contains from
week to week, the investor will have all the information ho needs in seeking a safe and remunerative lodgment for his money.
The terms and abbreviations employed in this S U P P L E M E N T are explained in the following:
" S T O C K A N D B O N D S .” — U n d er th ose w ord s are sh ow n —
" S T O C K . " — T h o a m o u n t o f s t o c k authorized im m e d i a t e l y f o ll o w s t h e w o r d " s t o c k , ” a n d a g a in s t t h is is t h e p a r v a l u e o f s i n g le s h a r e s .
F o r e x a m p le ,
“ S t o c k , $ 2 0 0 ,0 0 0 ( $ 1 0 0 ) , ” m e a n s s t o c k , t o t a l is s u e a u t h o r iz e d b y c h a r t e r o r b y A c t o f L e g is la t u r e . $ 2 0 0 ,0 0 0 , d i v i d e d i n t o s h a r e s o f $ 1 0 0 e a c h ; " f . p .
f o l l o w i n g t h e a m o u n t g i v e n a s o u t s t a n d i n g m e a n s “ f u ll p a i d . ”
“ P r e f ." m e a n s " p r e fe r r e d s t o c k .”
" P r o f . 6 % c u m .’ m e a n s p re fe rre d s t o c k e n title d t o d iv id e n d s o f 0 % p e r a n n u m , s u c h d iv id e n d s i f n o t p a id
a c c u m u l a t in g , a ll d i v i d e n d s d u o a n d u n p a id t o b o p a id in fu ll f o r o a c h a n d e v e r y y e a r b e f o r e t h e c o m m o n s t o c k r e c e iv e s a n y t h i n g .
" P r e f . 6 % noncu m ." m e a n s s i m p ly t h a t t h o s t o c k is e n t it le d t o 6 % p e r a n n u m i f e a r n o d , b u t t h a t i f u n e a r n e d in a n y y e a r t h o d i v i d e n d f o r t h a t y e a r w ill n o t b e p a i d
s u b s e q u e n t ly .
,,
" B O N D S .” — “ M o r t .” o r “ M . " m ea n s m o r tg a g o .
C o n s o l,
or
con . M .
m o a n s c o n s o l id a t e d m o r t g a g e .
" G e n . M . ” m ean s gen eral m o rtg a g e .
T h e a m o u n t n e x t f o ll o w i n g is t h o t o t a l a u t h o r iz e d a m o u n t t h a t c a n b o is s u e d u n d e r t h e m o r t g a g e .
T h o w o r d " g o l d ” is u s u a lly s p e l le d o u t , b u t in s o m e
i n s t a n c e s is c o n t r a c t e d t o “ g , ” w h ile “ c u r . ” m o a n s c u r r e n c y .
" C o n v . ” m ea n s c o n v e r t ib le in to s t o c k .
" S . f.
m e a n s s in k in g f u n d .
c.
m o a n s c o u p o n : ” c * ’ m e a n s c o u p o n b u t m a y b o r e g is t e r e d a s t o p r i n ­
c i p a l ; “ r ” m o a n s f u ll y r e g is t e r e d ( n o c o u p o n s ) ; “ r * ” m e a n s r e g is t e r e d , c o n v e r t i b l e i n t o c o u p o n b o n d s ; " c * & r * ” m e a n s r e g is t e r a b le in e it h e r f o r m a n d
c o n v e r t i b l e f r o m r e g is t e r e d t o c o u p o n o r t h o r e v e r s e ; a n d ‘ c * & r
m o a n s t h a t r e g is t e r e d c e r t i f ic a t e s w it h o u t c o u p o n s a s w e ll a s c o u p o n b o n d s a r e
o u ts ta n d in g .
T h o le t t e r s “ p . i n . ” m e a n p e r m ile , s o $ 1 5 ,0 0 0 p . in . m o a n s t h a t t h e is s u e o f b o n d s is r e s t r ic t e d t o $ 1 5 ,0 0 0 f o r e a c h m ile o f t r a c k . “ G u a r . "
m e a n s g u a r a n t e e d , a n d “ g u a r . p . & i . ( e n d . ) ” m e a n s g u a r a n t e e d a s t o p r i n c ip a l a n d in t e r e s t , t h o g u a r a n t y b e i n g e n d o r s e d o n e a c h b o n d .
T A X - E X E M P T I O N . — W h e r e t h e r e is a p r o v i s io n in b o n d o r m o r t g a g o w h ic h w o u ld s e e m t o m a k e t h e i n t e r e s t f r e e f r o m t h e F e d e r a l i n c o m e t a x ,
w o i n d i c a t o t h o f a c t in b l a c k - f a c e d le tt o r s — t f , m e a n in g a p p a r e n t ly t a x - fr e e ; w h e r e t h e r o is n o s u c h c o v e n a n t w e in s e r t t h e le t t e r s n t f , m e a n i n g a p ­
p a r e n t l y not t a x - fr e e
W h e r e w o h a v e n o k n o w l e d g e o t h e r t h a n t h a t t h e c o m p a n y h a s a s s u m e d o r is p a y i n g t h o t a x , w e in s e r t t h e l e t t e r s c p t , w h i c h
m e a n s t h a t company pays lax, at least for the present.
U n t il t h e c o u r t s h a v e p a s s e d b o t h u p o n t h e v a r i o u s f e a t u r e s o f t h e t a x a n d t h e e f f e c t o f t h e s e v ­
e r a l t a x c la u s e s in t h o b o n d s a n d m o r t g a g e s , it is i m p o s s i b l e t o g i v e m o r e d e f i n i t o i n f o r m a t i o n .
“ D A T E . ” — T h o d a t e o f is su o o n t h e f a c e o f t h o b o n d s is i n d i c a t e d u n d e r t h o w o r d " d a t e . ”

m a t u r e , t h o d a y o f t h e m o n t h t h e r e g i v e n b e in g in m o s t c a s e s t h e s a m e a s f o r o n e o f t h o in t e r e s t d a t e s ) .
‘ ‘ R O A D . ’ ’— T h o w o r d " t r a c k ” m e a n s in s t r e e t r a i lw a y p a r la n c e a ll t r a c k , w h e t h e r m a in l in o , s id in g , s w i t c h o r s e c o n d t r a c k ,
g i r d e r ” m e a n s t h a t e a c h r a il w e ig h s 8 0 p o u n d s t o t h o y a r d .

" R a ils are 8 0 -lb .

A full Index showing where each railway will bo found is given in tho closing pages of the book.

AKRON, OHIO.
N O R T H E R N O H I O T R A C . & L I G H T C O — T r o llo y .
O R G A N I Z A T I O N . — I n c o r p . in O h io a s s u c c e s s o r in N o v . 1 0 0 2 t o t h o
N o r t h e r n O h io T r a c t i o n C o . , h a v i n g e x c h a n g e d its s e c u r it ie s f o r t h o c o m ­
m o n a n d p r e f . s t o c k o f t h e l a t t e r p e r t e r m s in V . 7 5 . p . 7 3 3 .
S h ortest o f
c o m p a n y ’s franchises ( t h a t in A k r o n ) o x p ir e s In 1 9 2 4 ; o f t o t a l f r a n c h is e s
4 0 % a re p e rp e tu a l.
In 1906 a c q u ir e d c o n t r o l o f th o O a n to n -A k r o n C o n s o l.
R y . , a n d g u a r a n t e e s t h a t c o m p a n y ’s $ 2 , 5 0 0 , 0 0 0 c o n s o l . 5 s , p r i n . a n d i n t .
V . 83. P. 435, 849.
A l s o o w n s e n t i r e c a p i t a l s t o c k o f A k r o n W a d s w o r t h Sc
W e s t e r n T r a c . C o . a n d g u a r a n t e e s it s b o n d s p r in . a n d i n t .
C om m on stock
lis t e d o n N . Y . S t o c k E x c h a n g o in M a r c h 1 9 0 9 .
I n M a y 1 9 1 2 p r o f , a n d c o m m o n s t o c k h o l d e r s w e r e a llo w o d t o s u b s c r ib e
a t p a r fo r $ 1 ,0 4 0 ,0 0 0 n ew p r e f. s t o c k .
V . 9 1 , p . 1384, 1186, 4 17 .
S h a re­
h o l d e r s o n J a n . 2 4 1 91 4 s a n c t i o n e d a n I n c r e a s e in a u t h . a m o u n t o f p r o f ,
s t o c k t o $ 5 , 0 0 0 , 0 0 0 f o r f in a n c in g f u r t h e r a d d i t i o n s , e x t e n s i o n s , & c .
V. 98,
p . 74.
S t o c k h o l d e r s a p p r o v e d a c t io n o f d i r e c t o r s in p r o v i d i n g f o r t h o p a y ­
m e n t o f F e d e r a l i n c o m e t a x u p o n t h e v a r i o u s is su e s o f t h e c o . ’s b o n d s .
In O c t . 1 9 1 2 m a d e a 5 - y o a r c o n t r a c t f o r t h o l lg b t i n g o f t h o c i t y o f A k r o n .
STO CK AN D BO N DS—
Date.
Interest. Outstanding.
Maturity.
S t o c k , c o m . $ 9 , 0 0 0 ,0 0 0 ( $ 1 0 0 ) ------Q - M 15
$ 9 , 0 0 0 , 0 0 0 M c h T 4 .1 A
P r e f , $ 5 .0 0 0 ,0 0 0 ($ 1 0 0 1 6 % c u m
Q -J
2 , 8 5 0 , 0 0 0 A p r '14, I'A
A k B o d & C I e v 1st M . 3 3 0 0 , 0 0 0
1895
5 g M -S
3 0 0 ,0 0 0 S e p t 1 1 9 1 5
( $ 1 , 0 0 0 ) ;M c o v e r s 2 7 . 4 m . t f l I n t e r e s t a t C e n t r a l T r . C o . , N . Y . , T r u s t e e .
N o r t h e r n O h io T r a c , m o r t f 1 8 9 9
5 g J -J
2 ,7 0 0 , 0 0 0 J u l y 1 1 9 1 9
g , $ 3 ,0 0 0 ,0 0 0 ( $ l ,Q 0 0 ) c * - t f { I n te r e s t a t C e n tr a l T r u s t C o . , N . Y . , T r u s t e e ,
1 o r C itiz e n s ’ S a v . & T r u s t C o . , C le v e la n d .
N o r t h e r n O h io T r a c t i o n & f 1 9 0 3
4 & 5 g J -J
3 ,4 0 0 ,0 0 0 J a n
11933
L i g h t 1st c o n s o l ( $ 1 , 0 0 0 ) , ( I n t . a t C i t . S a v . & T r . C o . , C l e v o . , T r u s t e e ,
o r a t F ir s t N a t . B a n k , N o w Y o r k .
g o l d , $ 7 , 5 0 0 , 0 0 0 _____c * . t f l
5 g
S ee te x t J u ly 1 1933
A k W a d s & W e s t m o r t g a g e ,, 1 9 0 6
$ 5 0 0 ,0 0 0 g u a r ($ 1 ,0 0 0 ) _ . t f
N o r t h e r n O h io T r a c Sc L t c o l
1913
6 Q -F
1 , 5 0 0 ,0 0 0
S ee tex t
tru st m o r tg a g e , $ 1 ,5 0 0 ,0 0 0 t n t . a t C it . S a v . & T r u s t C o . , C le v e la n d ,
, 1______
($
. 0 0 0 ) ---------------_c
t f . T r u s t e e , o r F ir s t N a t . B a n k , N e w Y o r k ,
Stock.— -P r o f. Is r e d . , a ll o r p a r t , a t 1 1 0 a n d d i v . , o n a n y d l v . d a t o a f t e r
A p ril 1 1919.
I s p r o f , a s t o d i v . a n d a s s e t s a n d h a s fu ll v o t i n g p o w e r
V . 9 2 , p . 956; V . 9 5 , p . 4 8 ; V . 9 7 , p . 1116.
Bonds.— O f t h o $ 3 , 0 0 0 , 0 0 0 N o r t h e r n O h io T r a c t i o n b o n d s , $ 3 0 0 ,0 0 0 a r e
r e s e r v e d t o r o t ir o t h o A k . B e d . & C l e v . g e n . m t g o . o f 1 8 9 5 .
B o n d s lis t e d
o n P h ila d e lp h ia S t o c k E x c h a n g o in O c t . 1 9 0 1 .
O f th o $ 7 ,5 0 0 ,0 0 0 N o rth e r n
O h io T r a c t i o n Sc L ig h t c o n s o l s . , $ 3 , 0 0 0 , 0 0 0 a r o r e s e r v e d t o r e t ir e t h o N o r t h
O h io T r a c t i o n b o n d s a n d $ 1 ,1 0 0 ,0 0 0 a r o d e p o s i t e d u n d e r c o l l . t r . 6 s .;
$ 1 ,0 0 0 ,0 0 0 a r o 5 s , a ll o u t s t a n d i n g ; t h e r e s t 4 s .
T h o c o l. tru st m o rtg a g e
o f 1 9 1 3 Is s e c u r e d b y d e p o s i t o f $ 1 ,1 0 0 ,0 0 0 N o r . O h io T r a c . & L t . 4 s o f 1 9 3 3 ,
$ 1 , 0 0 0 , 0 0 0 C a n t o n - A k r o n c o n s o l . 5 s o f 1 9 3 3 a n d $ 2 0 0 ,0 0 0 A k r o n W a d s . &
W e s t. 5s.
T h e s o b o n d s m a t u r o in a n n u a l in s t a llm e n t s , $ 1 0 0 ,0 0 0 y e a r l y , o n
N o v . 1 1 9 1 4 t o 1 9 1 0 a n d $ 1 0 0 ,0 0 0 s o m i- a n n u a lly N o v . 1 1 9 1 6 t o N o v . 1 1 9 2 2
S u b je c t t o c a ll a t 101 a n d I n t . in in v e r s e o r d e r o f n u m b e r s .
V. 97, p . 803.
C A N T O N -A K R O N C O N S O L ID A T E D R A I L W A Y .
STOCK AN D BON DS—
Date.
Interest. Outstanding.
Maturity.
C o n s o l M $ 2 ,5 0 0 ,0 0 0 , g o l d .f
1900
5 g J -J
$ 1 , 0 5 2 , 0 0 0 J a n 1 193 3
g u a r p Sc i b y N o r t h O h I o { I n t . a t C i t i z e n s S a v . & T r u s t G o . , C l e v e l a n d ,
T r a c & L i g h t ($ 1 ,0 0 0 ) c * . t f l
T r u s t e e , o r F irs t N a t . B a n k , N e w Y o r k .
C a n t o n - A k r o n 1st m o r t g a g o , I 1 9 0 2
5 g M -S
1 , 1 5 0 ,0 0 0 M a r 1 1 92 2
$ 2 ,0 0 0 ,0 0 0 . g ( $ l , 0 0 0 ) c * - t f \ I n t . a t K n i c k e r b o c k e r T r . C o . , N . Y . , T r u s t e o
C a n t o n - M a s s i l lo n
1st m o r t | 1 9 0 0
5 g M -N
8 5 0 ,0 0 0 M a y 1 1 9 2 0
$ 1 , 0 0 0 , 0 0 0 , g ($ 1 ,0 0 0 ) . . t f l I n t e r e s t a t C l e v e l a n d T r u s t C o . , T r u s t e e , o r
I a t S ta n d a rd T ru s t C o ., N e w Y o r k .
1st M C a n & N P , $ 1 ,0 0 0 .0 0 0 f 1903
5 g F -A
5 6 5 .0 0 0 F e b 1 1 9 2 3
g o l d ( $ 1 , 0 0 0 ) _________ c * . t f l I n t . a t A m . L n . & T r . C o . , B o s t o n , T r u s t e e .
Tus RR
1st M , $ 1 0 0 ,0 0 0 1
1890
6 g J -D
1 0 0 ,0 0 0 J u n o 1 1 9 1 6
( $ 5 0 0 ) , g o l d _______________t f \ l n t . a t C l o v e . T r . C o . , C l e v o . , O . , T r u s t e e .
L a k e V L & I m o rtg a g e — t f
------5 J -J
5 1 .0 0 0
S ee text
Bonds.— o f t h o $ 2 , 5 0 0 , 0 0 0 c o n s o l id a t e d b o n d s , $ 1 , 0 0 0 , 0 0 0 a r o p l e d g e d
u n d e r N . O . T . & L . c o l l , t r u s t m t g o . , $ 1 0 0 ,0 0 0 a r o r e s e r v e d t o r e t ir e
t h e T u s c a r a w a s R R . 6s a n d $ 3 4 8 ,0 0 0 a r o r e s e r v e d f o r e x t . a n d l m p t s . a t
8 5 % o f cost.
S . R e e d A n t h o n y , B o s t o n , is a ls o t r u s t e o .
V . 9 1 , p . 1628,
1705.
O f t h e $ 2 , 0 0 0 , 0 0 0 C a n t o n - A k r o n 1 st m t g s . , $ 8 5 0 ,0 0 0 a r o r e s e r v e d
t o r e t ir o t h e C a n t o n - M a s s i l lo n b o n d s .
N e it h e r is s u o is s u b j e c t t o c a l l.
T h o C a n t o n - N o w P h il a d e l p h i a b o n d s m a y b o c a l le d a s a w h o le a t 1 0 5 a n d
In t. o n 3 m o n th s ’ n o tic o .
T h o L a k e V ie w L . & I . b o n d s m a t u r e $ 2 ,0 0 0
a n n u a l ly t o 1 9 1 0 , w h e n w h o lo is s u o fa lls d u e .
Dividends.— P r e f . s t o c k w a s is s u e d in 191 1 a n d d i v i d e n d s o f I A % q u a r .
a r o r e g u la r ly p a i d .
D iv i d e n d s o n c o m . w e r e b e g u n In 1 9 0 6 b y t h e d e c l a r a ­
t io n o f 2 % ^ P a y a b le J n ^ q u a r t c r ly in s t a llm e n t s o f A % f r o m J u n o 15 1 90 6.
B ta llm e n ts f r o m
a n d d e c la r e d S e p t . A % ; D e c . , A % .
I n 1 9 0 9 ,’ M a r . , A %
a g a in in c r e a s e d , a n d d e c l a r e d J u n e , 4 £ % : S e p t . , U % ; D e c . . A %
2 A % . In 1 91 1, 3 A % - In 1 9 1 2 , 4 A % - In 1 9 1 3 , 5 % . In 1 9 1 4 , M a r .,1 A %
P L A N T .— L in o e x te n d s fro m C le v e la n d th ro u g h A k r o n , C a n t o n , M a s
s lllo n a n d N o w P h ila d e lp h ia t o U h r ic h s v i l lo in T u s c a r a w a s C o u n t y , w it h
b r a n c h e s t o R a v o n n a ( v ia K e n t ) , t o W a d s w o r t h ( v ia B a r b e r t o n ) a n d t o
E a s t G r e e n v il l e f r o m M a s s il l o n .
O n J a n . 1 1 9 1 4 , o p e r a t e d 2 3 3 .2 2 m ile s
o f tra ck .
O w n s L a k e s id e P a r k ln A k r o n a n d M o y e r s L a k e P a r k in C a n t o n .
A l s o o w n s 1 ,0 1 1 a c r e s o f c o a l la n d in N o b l e C o u n t y .
R a lls , 5 0 , 5 6 , 7 0
a n d 8 0 - l b . T a n d 7 3 - l b . g ir d e r ; s t a n d a r d - g a u g e ; o p e r a t e s 3 4 0 c a r s a n d
7 s n o w -p l o w s a n d s w e e p e r s .
E m b r a c e s e l e c t r i c - l ig h t s y s t e m s o f A k r o n
an d B a rb erton .
R E P O R T .— F o r c a le n d a r y e a rs .

Calendar
Year —

Gross
Earns.

N et (after Bond
Taxes).
Int.

$
$
1 9 1 3 ............... 3 ,2 8 4 ,5 3 2 1 , 2 6 4 ,8 7 8
1 9 1 2 ............... 2 , 9 9 6 .0 3 0 1 ,2 9 3 ,2 7 1




Preferred
Divid'ds.

$
5 6 1 ,8 1 5 ( 6 ) 1 5 2 ,7 3 8
5 2 3 ,0 6 7 (3 ) 4 9 , 9 3 0

Common
Dividends.

Bal.,
Surp.

S
S
( 5 )4 5 0 ,0 0 0 1 0 0 ,3 2 5
( 4 H ) 3 8 2 , 5 0 0 3 3 7 ,7 7 4

O F F I C E R S . — P r e s . , I I . A . E v e r e t t , W i ll o u g h b y , O . ; V . - P s . , E . W .
M o o r e , C l e v e l a n d , a n d W i l l C h r i s t y , A k r o n ; V . - P . Sc G e n . M g r . , C h a s .
C u r r i e , A k r o n ; T r e a s . , J. R . N u t t , C l e v e l a n d ; S e c . , O . F . M o o r e , A k r o n ;
A u d ., O . II. L a h r , A k r o n .
G en e ra l o f fic e s , A k r o n .— V . 9 5 , p . 5 8 , 481
1 4 7 3 ,1 5 4 2 ; V . 9 6 . p . 3 5 5 , 1 3 6 5 ; V . 9 7 , p . 1 7 6 , 8 0 3 , 1 0 2 5 , 1 1 1 6 ; V . 9 8 . p . 7 4 .
3 8 8 ,* 4 9 .

ALBANY, N. Y.
U N I T E D T R A C T I O N .— A tr o lle y r o a d .
E n t i r e s t o c k is o w n e d b y T h o D e la w a r e & H u d s o n C o .
V . 81, p . 1552;
V . 8 2 , p . 160.
T h e D . Sc H . a ls o o w n s t h e T r o y & N e w E n g la n d a n d t h e
P l a t t s b u r g h T r a c t i o n , a n d a h a l f in t e r e s t in t h e S c h e n e c t a d y R y . , t h o
N o w Y o r k S t a t e R a il w a y s o w n in g t h e o t h e r h a l f .
O R G A N I Z A T I O N . — C h a r t e r e d D e c . 3 0 1 8 9 9 a s a c o n s o l id a t i o n o f t h o
A l b a n y R y . (c h a r t e r e d in 1 8 6 3 ), t h e W a t e r v li e t T u r n p i k e & R R . ( c h a r ­
t e r e d in 1.828) a n d t h e T r o y C i t y R y . ( c h a r t e r e d J a n . 31 1 8 6 6 ).
See V . 69 ,
p . 1 1 4 7 , 1 3 0 0 ; V . 7 0 , p . 7 7 . H a s c o n t r a c t w it h A d i r o n d a c k E l e c . P o w . C o r p .
o f G le n s F a lls f o r s u p p l y o f p o w e r . V . 6 9 , p . 5 4 1 , 9 0 9 . Franchises in T r o y
.and A l b a n y , e x c e p t t h a t o f t h e C a p i t o l R y . o n D e la w a r e A v e . (a s h o r t lin e
o n t h e o u t s k i r t s o f A l b a n y ) , w h ic h o x p ir e s A u g . 8 1 9 5 1 , a r e p e r p e t u a l .
V . 79, p . 2698.
H a s t r a f f i c a g r e e m e n t s w it h A l b a n y S o u t h e r n R R . , S c h e n ­
e c t a d y R y . a n d H u d s o n V a ll e y R y . , b y w h ic h c a r s o f t h e f ir s t t w o r o a d s
a r o r u n In to A l b a n y a n d c a r s o f t h o S c h e n e c t a d y R y . a n d H u d s o n V a ll e y
R y . a re ru n in t o T r o y .
T h e C o h o e s C i t y R y . w a s s o ld a t fo r e c l o s u r e in 1 9 0 4 a n d r e o r g a n iz e d a s
C o h o e s R y . C o . , w it h $ 1 2 0 ,0 0 0 s t o c k a n d $ 8 4 ,0 0 0 b o n d s ; a ll o f t h e s t o c k
a n d b o n d s o f t h o n o w c o m p a n y a r e d e p o s i t e d w it h t h e C e n t r a l T r u s t C o . o f
N o w Y o r k a s s e c u r it y fo r b o n d s o f th e A lb a n y R y .
Acquisition of Hudson Valley.— I n D o c . 1 9 0 6 a c q u i r e d a m a j o r i t y o f t h e
s t o c k a n d b o n d s o f t h o H u d s o n V a ll e y R y . C o . a n d i n c r e a s e d it s o w n s t o c k
f r o m S5,0OO,OOO t o $ 1 2 ,5 0 0 ,0 0 0 t o f i n a n c e t h e p u r c h a s e .
V . 84. p . 52.
STOCK AN D BON DS—
Dale. Interest. Outstanding. Last div.,<&c.
S t o c k (p a r $ 1 0 0 ) , $ 1 2 ,5 0 0 .0 0 0 ..............
4 J -J
$ 1 2 ,5 0 0 ,0 0 0 J a n '1 4 , 2 %
D e b e n t u r e s , $ 4 5 6 ,0 0 0 , g o l d ! 1 90 1
4 X g M -N
4 5 6 ,0 0 0 M a y 1 1 9 1 9
( $ 1 , 0 0 0 ) ------------------------r~ n t f ( I n t . a t N a t io n a l C o m m e r c ia l B a n k , A l b a n y .
C o n s m tg o , $ 6 ,5 0 0 ,0 0 0 . g o ld !
1904
4M g J -D
2 ,5 8 8 ,0 0 0 J u n e 1 2 0 0 4
( $ 1 , 0 0 0 ) --------------------------c * t f / I n t . a t C e n t r a l T r u s t C o . , N . Y . , T r u s t e e .
Bonds.— O f t h o c o n s o l , m t g e . o f 1 9 0 4 , $ 3 , 9 1 2 , 0 0 0 is r e s e r v e d t o r e t ir e p r i o r
lio n s .
N o s k . f d . a n d b o n d s a r o n o t s u b j . t o c a l l.
D ir e c t o r s m a y f i x r a t e o f
i n t . , b u t n o t e x c e e d i n g 6 % ; p r e s e n t is su e is a t 4 A % .
T h o debs, m ay bo
c a l le d o n a n y i n t . d a t o o n 3 m o s . ' n o t i c e a t " a 5 % i n t . r a t o f o r t h e u n e x p lr e d t e r m a s c a l c u la t e d ln s t a n d a r d i n t . t a b l e s . ”
V . 73, p . 1113.
S E C U R IT IE S O F A L B A N Y R A IL W A Y .
STO CK AN D BON DS—
Date.
Interest. Outstanding.
Maturity.
F i f t h m o r t g a g e ___________ 1 8 8 8
5 M -S
$ 3 2 ,0 0 0 S e p t 1 1 91 3
C on sol M
($ 5 0 0 ,0 0 0 ). g o l d ! 189 0
5 g J -J
4 2 8 ,0 0 0 J a n
1 1930
( $ 1 , 0 0 0 ) ______________ c * _ n t f (Interest a t C e n t r a l T r u s t C o . , N e w Y o r k .
G e n e r a l m o r t g a g o , $ 7 5 0 ,0 0 0 .1 1 8 9 7
5 g J -D
4 9 6 ,0 0 0 J u n e 1 1 9 4 7
g o l d ................. ............. ............... t f / C e n t r a l T r u s t G o . , N e w Y o r k , T r u s t e e .
Leased Line Securities—
W at T & R R —
1 1889
6 M -N
3 5 0 ,0 0 0 M a y 1 1 9 1 9
1 st M In t g u a r __________ n t f ( B o s t o n S a fe D e p . & T r . C o . , B o s t o n , T r u s t e e
2 d M , p Sc i n t g u a r ______n t f ) 1 8 9 0
6 M -N
1 5 0 ,0 0 0 M a y 1 1 9 1 9
(M e tr o p o lita n T r u s t C o .. N . Y ., T ru ste e .
T h e A l b a n y R y . g e n e r a l m o r t g a g e o f 1 8 9 7 w a s f o r $ 7 5 0 ,0 0 0 . o f w h ic h
$ 2 5 4 ,0 0 0 w a s r e s e r v e d , b u t c o n s o l id a t i o n m a d e r e s e r v a t io n i n o p e r a t iv e .
S E C U R IT IE S O F T R O Y C IT Y R A IL W A Y .

Date.

Interest.

Outstanding.

Maturity.

T r o y C i t y 1 st c o n M . g o l d , ! 1 8 9 2
5 g A -O
$ 2 , 0 0 0 ,0 0 0 O c t 1 1 9 4 2
$ 2 , 0 0 0 , 0 0 0 _____________ c * & r ( I n t . p a id b y T r u s t e e , C e n t r a l T r u s t C o . , N . Y .
T h e T r o y C i t y le a s e d r o a d s i n c lu d e T r o y & C o h o e s , s t o c k $ 5 0 ,0 0 0 , d l v s .
u n d e r le a s e , 7 % ; L a n s in g b u r g Sc C o h o e s , s t o c k , $ 1 5 ,0 0 0 : d i v s . u n d e r le a s e ,
7% .
T h o W a t e r fo r d & C o h o e s R R . $ 2 5 ,0 0 0 s t o c k r e c e iv e s 7 % y e a r l y
u n d e r le a s e .
D I V I D E N D S . — F ir s t q u a r . d i v . , 1 A % , w a s p a id M a y 1 1 9 0 0 : s a m e r a t e
c o n t in u e d u p t o a n d In c l. J u l y 1 9 0 5 .
F o r y e a r 1906 5 A % w a s p a id .
On
D e c . 31 1 9 0 6 s t o c k w a s in c r e a s e d f r o m $ 5 , 0 0 0 ,0 0 0 t o $ 1 2 ,5 0 0 ,0 0 0 a n d d l v s .
m a d e s e m i-a n n u a l (J -J ) a n d 2 A % p a id J u l y 1 1 9 0 7 , 2 H % J a n . 1 1 9 0 8
a n d 2 % e a c h s ix m o n t h s s i n c e t o a n d I n c l. J a n . 1 9 1 4 .
R O A D . — O p e r a t e s 1 0 6 .7 6 m ile s o f t r a c k , o f w h ic h 8 8 .3 1 m ile s o w n o d ,
c o n n e c t in g A l b a n y , T r o y , C o h o e s , R e n s s e la e r , W a t e r v l i e t , L a n s in g b u r g ,
G r e e n I s la n d , W a t e r f o r d . Sec. H a s 4 5 0 c a r s , in c lu d in g 15 s n o w - p l o w s , 9
s w e e p e r s a n d 13 s e r v ic e c a r s .
S ta n d a rd g a u g e.
A N N U A L R E P O R T — Y e a r s e n d in g D e c . 3 1 :
1913.
1912.
I
1913.
1912.
G r o s s e a r n s . . $ 2 ,5 4 6 ,6 2 3 $ 2 ,3 8 9 ,7 5 1 T o t a l n e t
$ 1 ,1 8 2 ,9 8 2
$ 1 ,1 0 9 ,3 4 1
O p o r . e x p _____ 1 ,6 0 4 ,0 6 1
1 , 5 2 4 , 4 8 8 1d i g s . & t a x e s
6 8 0 .0 4 8
6 0 8 ,0 2 6
N e t ......................
9 4 2 ,5 6 2
8 6 5 , 2 6 3 1D i v . ( 4 % ) . . .
5 0 0 ,0 0 0
5 0 0 .0 0 0
O th e r in c o m o .
2-1 0 ,4 2 0
2 4 4 ,0 7 8 1S u r p . f o r y e a r .
5 0 2 .9 3 4
5 0 1 ,3 1 5
O F F I C E R S . — P r o s ., L . F . L o r e o , N . Y . ; V . - P . . C . S . S im s . A l b a n y ; V . - P . ,
W . H . W i ll ia m s ; A s s t , t o P res.-, W . B . S c h o f i e ld ; A s s t , t o V . - P r e s . , G . I I .
P a rk e r, N . Y .; S e c . & A u d ., W . I I . E ld e r; T r e a s ., I I . F . A t h e r t o n , A lb a n y ;
C o m p . , W . H . D a v i e s , N . Y . ; G e n . A u d . , A lle n M c C a r t y ; A c t i n g G e n . M g r . ,
J a m o s F . H a m ilt o n , A lb a n y .
P r in c ip a l o f f i c e , A l b a n y . — V . 8 3 , p . 1 3 8 1 ;
V . 8 4 . p . 9 3 2 , 1368, 1429; V . 9 2 , p . 1312.
(1 ) H u d s o n V a l l e y R a i l w a y . — A t r o ll e y r o a d .
G R G A N I Z A T I O N . — I n c o r p . A u g . 14 190 1 a s a c o n s o l id a t i o n o f t h o G le n a
F a lls S a n d y H il l & F o r t E d w a r d S t r e e t I t y . , W a r r e n C o u n t y E l e c t r ic R y . ,
S t illw a t e r Sc M o c h a n l c v l l l o S t r e e t R y . , G r e e n w i c h Sc S c h u y le r v l ll o S t r e e t
R y ., S a ra to g a T r a c t io n C o . a n d S a ra to g a N o rth e r n R y ., th e c a p ita l s t o c k
o f t h o s e r o a d s b e in g e x c h a n g e d f o r s t o c k In t h e n e w c o m p a n y .
V . 7 3 , P .3 9 U

[Vol . XCVIII

ELECTRIC RAILWAYS

()

C a r r i e - fre i ;■ ii a n il e x p r e s s as w e ll a s p a s s e n g e r s .
8 0 % p r i v a t e r ig h t o f w a y .
r ranch is a r e all p e r p e t u a l. O w n s a ll t h e s t o c k ( $ 2 0 0 , 0 0 0 ) a n ti a ll t h e b o n d s
( 5 2 0 0 . 0 0 0 ; o f t h e N o r t h K iv o r U y . , a r o a d o p e r a t e d In S a r a t o g a b y t h is c o .
I n 190(3 p a r t o f t h e c o n s o l . 5s w e r e c o n v e r t e d i n t o d e b e n t u r e s in a c c o r ­
d a n c e w it h a p la n f o r t h e r e -a d ju s t m e n t o f t h e c o m p a n y ’s f i n a n c e s .
V . 82,
p. 1010.
I n M a r c h 1 90 6 a u t h o r i z e d $ 2 , 5 0 0 , 0 0 0 p r e f e r r e d s t o c k t o p r o v i d e
fo r th e c o n v e r t ib le fe a tu re o f th e d e b e n tu re " B s . ”
V . 82, p . 751.

STOCK AN D BON DS—
Date. Interest. Outstanding. M aturity.
C o l l t r u s t b o n d s , $ 9 2 5 ,0 0 0 1 1 9 1 3
6 g J -J
$ 8 5 1 ,0 0 0 J u l y 1 1 9 2 3
( $ 1 , 0 0 0 , $ 5 0 0 , $ 1 0 0 ) , g c * t f | I n t . a t G ir a r d T r u s t C o . , P h i l a . , T r u s t e e .
E q u i p t r u s t s “ S e r A ” ------------t f _____
5%
8 0 ,7 5 0 ......... ................

Bonds.— O t t h e $ 5 ,0 0 0 ,0 0 0 f ir s t m t g e . , $ 2 , 7 7 0 , 0 0 0 b o a r 4 % in t e r e s t a n d
a r e a ll o u t a n d $ 2 ,2 3 0 ,0 0 0 a r o 5 s .
$ 4 3 ,0 0 0 o f t h e s e b o n d s a r e r e s e r v e d t o
t a k e u p t h e $ 4 0 ,3 0 0 Q u a k e r t o w n T r a c . b o n d s s t ill o u t .
See V . 8 2 . p . 6 2 8 .
Outstanding.
I n t e r e s t a t B r o w n B r o s . & C o . , P h il a d e l p h i a .
T h e f ir s t m t g o . b o n d s a re
Interest.
STOCK AN D BO N DS—
Date.
re d e e m a b le o n a n y in te re s t d a t e , th e 4s a t 105 a n d th o 5s a t 110 . O f th e
$ 3 ,0 0 0 ,0 0 0
C o m m o n , $ 3 ,0 0 0 ,0 0 0 . p a r $ 1 0 0 _____
________
c o n s o ls . $ 2 ,5 0 0 ,0 0 0 4 s w ere o u ts ta n d in g b u t $ 2 ,1 4 6 ,0 0 0 h a v e b e e n e x c h a n g e d
S ee tex t
P r e fe r r e d
( $ 2 ,5 0 0 ,0 0 0
( s e e f .................................
f o r r e f . & i m p r o v . b o n d s . I n t . o n t h o c o n s o l , b o n d s is p a y a b l e a t t h e c o m ­
t e x t ), 5 % n o n -c u m u la t iv e . /
T h ese b on d s
2 ,2 2 2 ,0 0 0
J u.l y 1 195 1 p a n y s o f f i c e o r a t o f f i c e o f B r o w n B r o s . & C o . , P h il a d e l p h i a .
F ir s t c o n s o l id a t e d m o r t g a g e r 1 90 1
5 g J -J
a r e n o t s u b j e c t t o c a l l.
O f t h o $ 1 5 ,0 0 0 ,0 0 0 r e f . & i m p r o v . b o n d s $ 5 , 0 0 0 , 0 0 0
$ 4 ,0 0 0 ,0 0 0
(d e n o m in a t io n /I n t e r e s t a t M a n u fa c t u r e r s ’ N a t . B k ., T r o y .
a r o r e s e r v e d t o r e t ir e 1 st M . b o n d s ; $ 5 6 9 ,0 0 0 f o r c o n s o l , m t g e . b o n d s
$ 1 .0 0 0 g o l d ) ____________ c * t f ( M a y b e c a l le d a t 1 1 0 & l n t . o n a n y i n t . d a t e .
( $ 3 5 4 ,0 0 0 t o t a k e u p b o n d s s h o w n in t a b l e a n d r e s t fo r b o n d s p r e v i o u s ly
5 g
4 7 4 ,0 0 0 J a n 1 195 1
D e b “ A ” i n c o m e . $ 7 0 0 , 0 0 0 - . 1 90 6
t a k e n u p ) ; $ 4 ,3 1 6 , 0 0 0 f o r i m p r o v e m e n t s .
B o n d s a re re d . a t 105 a n d in t .
D e b “ B ” I n c o m e , $ 2 ,5 0 0 ,0 0 0 . 1906
2 g
2 ,5 0 0 ,0 0 0
J a n 1 195 1
o n o r b e fo r e J u n e 1 1 9 2 0 , a n d 110 a n d ln t. th e r e a fte r .
V . 9 2 , p . 1 87 ; V . 9 4 ,
Underlying Liens —
p . 698, 982; V . 95, p . 750.
I n t . is p a y a b l e in A l l e n t o w n o r a t o f f i c e o f
O F S II & F E 1st M ( n o o p t ) l
1891
6 J -J
1 0 0 ,0 0 0
S ee tex t
B r o w n B r o s . & C o . , P h il a .
I h e c o ll a t e r a l t r u s t n o t e s o f 1 9 2 3 a r e r e d . a t
( $ 5 0 0 a n d $ 1 ,0 0 0 ) g o l d ___ c / C e n t r a l T r u s t C o . , N o w Y o r k , T r u s t e e .
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1 89 3
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5 0 ,0 0 0 p a s t d u e .
L e h ig h V a lle y L t . & P . b o n d s a r e s u b j e c t t o c a ll o n a n y i n t . d a t e a t 1 0 5
l i n t , a t M e r c h a n t s ' N a t . B a n k , G le n s F a lls ,
a n d in te re s t.
V. 97, p. 365.
do
3 d M ($ 1 5 0 ,0 0 0 ) n t f / 190 1
6 A -O
8 2 ,0 0 0 A p r i l 1 192 1
Dividends.— I n it ia l d i v . o n p r e f . , 1 % , p a i d N o v . 10 1 9 1 1 . I n 1 9 1 2 .
( M a y b e c a llo d a t 1 0 0 .
a n d 1 9 1 3 , 2 % ; in 1 9 1 4 , M a y , 1 % .
S t ill & M e c h f ir s t m o r t g a g e . . I
1893
6 A -O
4 7 ,5 0 0 p a s t d u e .
R E P O R T . — F o r fis c a l y e a r o n d in g N o v . 3 0 1 9 1 3 .
(B a n k e rs T r u s t C o ., N e w Y o r k , T r u s t e e ,
Gross
Operating
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In t. Chgs., Balance,
do
do
c o n s o l m t g e ._ ( 1898
6 A -O
2 0 2 ,5 0 0 p a s t
due.
Fiscal Year —
Earnings.
Expenses.
Earnings. Taxes, A c. Surplus.
$ 2 5 0 ,0 0 0 --------------------------------- /G l e n s F a lls T r u s t C o . , G le n s F a lls , T r u s t e e .
$ 1 ,0 2 4 ,7 1 7
$ 5 7 8 ,1 4 4
$ 4 4 6 ,5 7 3
Bonds.— O f t h e $ 4 ,0 0 0 ,0 0 0 M . o f 1 9 0 1 , $ 1 8 2 ,0 0 0 is s e t a s id o f o r p r i o r lie n s 1 9 1 2 - 1 3 . - . ..............$ 1 , 7 6 4 ,9 9 7 $ 7 4 0 ,2 8 0
1 9 1 1 - 1 2 - - . .............. 1 ,5 2 6 ,7 7 7
6 5 0 ,0 7 9
8 7 6 ,6 9 8
5 0 2 ,2 5 5
3_________
7 4 ,4 4 2
a n d $ 1 ,2 9 0 ,0 0 0 h a v e b e e n d e p o s i t e d a s c o l l , f o r t e m p o r a r y l o a n s .
T h e dob.
* F r o m t h o $ 3 7 4 ,4 4 2 s u r p l u s in 1 9 1 1 -1 2 t h e r e s h o u l d b o d e d u c t e d d i v i ­
‘ ‘ B ’ ’ b o n d s are c o n v . in to p re f. s t o c k t o M a r . 1 1 91 7, in c h
In t. on th o d eb .
d e n d s o f $ 9 9 ,5 6 6 ( 2 % ) o n t h o p r e f e r r e d s t o c k , l e a v i n g $ 2 7 4 ,8 7 6 .
“ A ” a n d “ B ” b o n d s is n e it h e r c u m . n o r o b l i g a t o r y .
N o i n t . h a s b e e n p a id
R O A D . — O w n s o r c o n t r o l s 1 5 5 m il e s o f t r a c k , c o n n e c t i n g A l l e n t o w n ,
o n e it h e r c la s s .
T h e G . F . S . I I . & F . E . 1st M . f o il d u o J u l y 1 1 9 1 1 , b u t
w a s e x t e n d e d a n d is n o w p a s t d u o .
B o t h is su e s o f S t illw a t e r & M e c h a n i c - B e t h l e h e m , S o u t h B e t h l e h e m , I l e l l e r t o w n , N a z a r e t h , S i e g f r i e d , C o p l a y ,
C a ta s a u q u a , E g y p t , E m a u s , M a c u n g io , S la tin g to n , Q u a k e r to w n , P e rk a s lo ,
v i l l o b o n d s f e ll d u o A p r i l 1 1 9 1 3 .
L a n s d a l e , N o r r i s t o w n A m b l e r , a n d P h il a d e l p h i a .
8 0 - l b . r a ils .
O wns a
R E P O R T . — F o r fis c a l y e a r e n d in g D e c . 3 1 1 9 1 3 , g r o s s , $ 7 0 6 ,8 7 3 ; n e t ,
la r g e a m u s e m e n t p a r k a b o u t m i d w a y b e t w e e n A l l e n t o w n a n d B e t h l e h e m .
$ 2 4 8 ,5 0 8
ROAD. — M a i n lin o e x t e n d s f r o m T r o y n o r t h w a r d a l o n g t h e H u d s o n H a s 4 1 o p e n , 1 0 8 c lo s e d a n d 4 3 m is c e l la n e o u s c a r s . A 2 , 6 5 0 - f o o t b r i d g e
b e t w e e n A l l e n t o w n a n d S o u t h A l l e n t o w n w a s b u ilt b y t h o c o n t r o l l e d A l l o n t h r o u g h t h o v illa g e s a n d t o w n s o f W a t e r f o r d , M e c h a n l c v i l l o , S t illw a t e r ,
t o w n B r i d g e C o . ( a u t h . s t o c k $ 3 0 0 ,0 0 0 ) a n d w a s f o r m a l l y o p e n e d N o v . 14
S c h u y le r v l ll e , T h o m s o n , F o r t E d w a r d , S a n d y I l i l l , G le n s F a lls a n d C a ld ­
1913.
S ee V . 9 7 , p . 1426, 1428; V . 9 8 , p . 154.
w e ll t o W a r r e n s b u r g .
T h e S a r a t o g a D i v i s i o n , w h ic h b r a n c h e s o f f t h e
O F F I C E R S .— C lim n . o f B d ., C o l. II. C . T r e x le r ; P r o s ., H a r ris o n R .
m a in lin e a t M e c h a n l c v il l o , p r o v i d e s a lin o f r o m T r o y t o R o u n d h a k e ,
F e h r ; \ . - P . , E . M . Y o u n g ; S e c . a n d q ’ r e a s ., C h a s . N . W a g n e r ; A u d . , O . M .
J ° — •*■~
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1903.
______
_______ __
K a yd eross P a rk on
S a ra to g a L a k o a n d a n o th e r f r o m T h o m s o n to G re e n w ic h .
T o t a l f ir s t t r a c k ,
p. 523.
1 1 9 .3 3 m ile s ; s e c o n d t r a c k , 1 1 .3 4 m .; s i d in g s , 8 .6 1 m . ; m a k i n g a t o t a l o r
1 3 9 .2 8 m ile s o f t r a c k .
R a il s , T , g ir d e r a n d g r o o v e d , 4 8 t o 141 lb s .
S ta n d ­
(1 ) E a s t o n C o n s o l i d a t e d E l e c t r i c . — ■
ard g au g e.
O p e r a t e s 7 4 p a s s e n g e r c a r s , 8 f r e i g h t c a r s , 9 s e r v ic e c a r s , 7
I n A p r i l 1 91 3 t h e L e h ig h V a ll e y T r a n s i t C o . a c q u i r e d a c o n t r o l l i n g i n t e r ­
s n o w p lo w s , 2 e le ctr ic lo c o m o t iv e s a n d 7 e x p re ss ca r s .
C om p a n y ow ns
e s t in t h e s t o c k .
V . 9 6 , p . 1021.
K a y d e r o s s P a rk , a t S a r a to g a L a k e ; O n d a w a P a r k , b e tw e e n G re e n w ich
O n M a y 1 1 9 0 1 le a s e t o L e h ig h V a ll o y T r a c t i o n w a s c a n c e l e d b y r e n t a ls
a n d T h o m s o n .— V . 8 9 , p . 286 .
b e in g in d e f a u l t .
S eo V . 7 8 , p . 1446, 1781.
In J u n e 1 9 0 4 a fu r t h e r in s t a ll­
m e n t o f $ 5 p e r s h a r o w a s c a l le d o n s t o c k .
V . 7 8 , p . 2 0 1 1 ,2 4 4 2 .
D iv id e n d
p a y m e n t s h a v e b e e n m a d e : J u l y 1 9 0 0 , 3 .t < % o n $ 1 0 p a id in ; S e p t . 1 90 1 a n d
M a r c h a n d S e p t . 1 9 0 2 , 3 % o n $ l o p a id in ; M a r c h 1 9 0 3 ( p a i d In J u l y ) a n d
S O U T H E R N IO W A R A IL W A Y & L IG H T C O .
S e p t . 1 9 0 3 , 4 % o n $ 1 5 p a id in .
O R G A N I Z A T I O N . — I n c o r p . in D e la w a r e in M a r c h 1 9 1 4 a s a c o n s o l i ­
I n D e c . 1 9 0 5 d e c l a r e d a d i v i d e n d o f $ 2 5 0 a n d a t s a m e t im e c a l le d a n
d a tio n o f th o A lb la In te ru rb a n R y . a n d th e A lb ia G a s C o .
D o e s t h e l ig h t ,
a s s e s s m e n t o f $ 5 p o r s h a r o o n t h e s t o c k ; t h e d i v i d e n d w a s c r e d it e d o n t h e
h e a t , p o w e r , r a i lw a y , g a s a n d ic e b u s in e s s o f A l b i a a n d c o m m u n i t y .
a s s e s s m e n t , m a k i n g t h o s t o c k 5 0 % p a id i n .
V . 8 1 , p . 1791.
C a sh d iv i­
Franchises e x p ir e : E l e c t r i c , 1 9 3 1 ; r a i lw a .y ,. 1 9 3 2 ;. _g a s ,. 1 9 3 9 .
d e n d s r e s u m e d in O c t . 1 9 0 6 b y t h e p a y m o n t o f 2 / < i % . V . S 3 , p . 6 8 7 :
STO CK AN D BON DS—
Dale.
Interest. Outstanding. Maturity. 2 H % a g a in p a id A p r i l 1 1 9 0 7 a n d 2 A % O c t . 1 1 9 0 7 ; t h e n d i v i d e n d s w e r e
C o m s t o c k , $ 4 0 0 ,0 0 0 ( $ 1 0 0 ) ----------------------$20,000 ..............
p a s s e d u n t il N o v . 1 9 1 1 , w h e n 2 % w a s p a i d .
In 1 9 12 a n d 1 91 3, 4 % ;
P r e f , $ 1 0 0 ,0 0 0 ($ 1 0 0 ) 7 % c u m _____
---------100,000
........ .
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1 st & r e..................................
f M , $ 7 5 0 ,0 0 0 ,....
g (. $ 1 , 4_ 1 9 1 4
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6 g
S ee text
192 9
O R G A N I Z A T I O N . — C o n s o li d a t i o n b y s t o c k o w n e r s h ip o f t h e E a s t o n
0 0 0 & S 5 0 0 ) r e d a f t 1 9 a t l O 5o|l IInn t . a t I o w a T r u s t C o . , A l b i a , T r u s t e e .
T r a n s i t C o . , t h o E d is o n I ll u m i n a t i n g C o . o f E a s t o n , t h o E a s t o n P a lm e r &
A l b i a I n t R y 1st M , . $ 3 0 0 ,0 0 0 1 1 9 1 0
6 g J -D
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Seo text
B e t h le h e m S t r e e t R y . C o . , t h e E a s t o n & B e t h l e h e m T r a n s i t C o . , N o r t h a m p ­
g ($ 1 0 0 , $ 5 0 0 & $ 1 ,0 0 0 ) — / I n t e r e s t in N o w Y o r k o r A l b i a .
'
t o n C e n t r a l S t r e e t R y . C o . a n d t h e E a s t o n & S o u t h B e t h le h o m T r a n s i t C o .
S T O C K . — P r e f e r r e d s t o c k is s u b j e c t t o r e d e m p t io n a t a n y t im e .
I n c o r p o r a t e d in N e w J e r s e y M a r c h 11 1 8 9 9 .
O w n s a ll t n o s t o c k o f t h e
Bonds.— O f t h o 1 st & r e f. b o n d s , $ 3 2 1 ,0 0 0 t o b e p l a c e d w it h t r u s t e e f o r P e n n . M o t o r C o .
r e t ir e m e n t o f A l b i a I n t e r u r b a n R y . a n d A l b i a G a s C o . a s t h e y b e c o m o d u o .
Consolidation o f Subsidiaries.— O n J a n . 3 1 9 0 8 t h e ( o l d ) E a s t o n T r a n s i t
A l b i a I n t . R y . b o n d s a r e r e d . a f t e r J u n o 1 1 9 1 3 a t 101 a n d i n t .
T h ey
C o . , t h o E a s t o n & B e t h l e h e m T r a n s i t C o . , t h e E a s t o n P a lm e r & B e t h le h e m
m a t u r e s e r ia ll y f r o m J u n e 1 1 9 1 3 t o 1 9 3 0 , in c lu s i v e .
1
S tre e t R y . a n d th e N o r t h a m p to n C e n tra l S tre e t R y . w e re m o rg e d in to th e
E A R N I N G S . - — -O f c o m b in e d p r o p e r t ie s ( except gas) f o r c a l . y e a r 1 9 1 3 ,
( n o w ) E a s t o n T r a n s i t C o . ( V . 8 5 , p . 1 4 6 1 ) a n d in 1 9 0 9 t h e E a s t o n & S o u t h
g r o s s , $ 7 2 ,7 7 6 ; n e t , $ 3 0 ,0 0 5 ; b o n d i n t e r e s t , $ 1 5 ,2 0 0 ; s u r p lu s , $ 1 4 ,8 0 5 .
B e t h le h e m T r a n s . C o . w a s a ls o m o r g e d i n t o t h e ( n e w ) E a s t o n T r a n s i t C o .
O F F I C E R S .— P r e s ., C . B . J u d d ; S e c . & G e n . M g r ., E . C . M a n n in g !
S t o c k , $ 2 , 1 5 0 ,0 0 0 ; a ll o w n e d b y E a s t o n C o n s o li d a t e d E le c .
S T O C K A N D B O N D S . — B o t h t h e s t o c k a n d t h o c o ll a t e r a l t r u s t 5s w e r e
in J a n . 1 9 0 0 lis t e d o n t h o P h il a d e l p h i a S t o c k E x c h a n g e .
Maturity.

ALBIA, IOWA.

ALLENTOWN, PA,

LEHIGH
VALLEY TRANSIT C O — A t r o ll e y r o a d . (.See map on p . 7.)
O R G A N I Z A T I O N . — I n c o r p . in P a . o n N o v . 3 1 9 0 5 a n d is a r e o r g a n iz a

Date.

Interest.

Outstanding.

Maturity.

S t o c k , $ 1 , 5 0 0 ,0 0 0 (p a r $ 5 0 ) __________
M -N
5 0 % p d . i n . M a y ’ 1 4 ,2 %
C o lla te r a l tru s t $ 1 ,3 0 0 ,0 0 0 g / 1899
5 g M -N
$ 1 ,2 3 7 ,0 0 0 M a y 1 1949
t io n u n d e r fo r e c l o s u r e o f t h o L e h ig h V a ll e y Traction C o . , t h o P h ila d e l­
( $ 1 ,0 0 0 a n d $ 5 0 0 ) _____c * t f ( i n t e r e s t a t G ir a r d T r u s t C o . . P h il a . , t r u s t e e .
p h i a & L e h ig h V a lle y T r a c t i o n C o . , t h o A l l e n t o w n & S la t in g t o n a n d t h e
P e n n s y lv a n ia M o t o r C o 1 s t ( 1 89 1
6 A -O
6 0 ,0 0 0 A p r
1 194 1
C o p l a y E g y p t & I r o n t o n S t r e e t R y . , a s p e r p la n In V . 7 9 , p . 7 3 3 , 1 4 6 2 .
m o r t . ( c a n n o t b e c a l le d ) t f ( L a c k . T r . & S a f e D o p . C o . , S c r a n t o n , t r u s t e e
I n O c t . 1 91 1 p u r c h a s e d t h o M o n t g o m e r y T r a c . C o . ( V . 9 3 , p . 9 4 0 ) , a ll o f
E a s P a l & B e t h E l e c 1st g o l d / 1 8 9 8
5 J -J
2 0 0 ,0 0 0 J a n
1 1919
w h o s e b o n d s a n d s t o c k a r e d e p o s i t e d u n d e r t h o L e h ig h V a lle y T r a n s it r e f . &
$ 2 0 0 , 0 0 0 , c a n n o t b e c a l l e d n t f ( l n t . a t U . S . M t g . & T r . C o . . N . Y ., t r u s t e e .
I m p . m t g o . o f 1 9 1 0 ; r e c o n s t r u c t io n o f M o n t . T r a c . c o m p le t e d D e c . 12 191 2
5 g J -J
4 4 7 ,0 0 0 J u l y 1 1 9 3 0
fro m 4 X
A t o 2 'A h o u r s . A 1 4 -m ile c u t - o f f o n t h is d i v i s i o n w a s c o m p l e t e d in E a s & S o B e t h T r 1st M $ 5 0 0 . - / 1 9 0 6
0 0 0 g u a r g o l d ( $ 1 ,0 0 0 ) c » t f ( G i r a r d T r u s t C o . . P h il a d e l p h i a , t r u s t e e .
1 9 1 4 , f u r t h e r c u t t i n g d o w n t h e r u n n in g t i m e b e t w e e n t h o s e p o i n t s t o 2 h o u r s .
Bonds.— T h o c e l l , b o n d s h a v o n o s . f . a n d a r e n o t s u b j e c t t o c a l l. O f t h e
I n A p r i l 1 9 1 3 p u r c h a s e d c o n t r o ll i n g in t e r e s t in s t o c k o f E a s t o n C o n s o li
t o t a l o f 3 1 , 3 0 0 , 0 0 0 , $ 6 0 ,0 0 0 Is r e s e r v e d t o r o t ir o t h o P e n n . M o t o r b o n d s ,
d a t e d E l e c t r i c C o . ( V . 9 6 , p . 1 0 2 2 ).
O n J u n o 2 0 1 9 1 3 s h a r e h o ld e r s a u t h o r ­
$ 2 ,0 0 0 in t r e a s . a n d $ 1 ,0 0 0 r e s e r v e d f o r s m a ll a m t . o f o u t s t a n d i n g s c r ip o f
i z e d a n is s u e o f c o lla t e r a l n o t e s t o p a y f o r t h o p u r c h a s e .
V . 9 6 , p . 1489
E d . 111. C o . I s s u e is s e c u r e d b y p l e d g e o f $ 2 ,1 5 0 ,0 0 0 s t o c k ( e n t ir e is su e ) o f
1772.
A l s o h a s h a l f in t e r e s t in N o r r i s t o w n T r a n s i t C o . Franchises p e r p e t ’
( n e w ) E a s t o n T r a n s i t C o . . 1 2 ,3 1 7 s h a r e s (e n t ir o is su e ) o f E d is o n I li u m ,
U n d e r a g r e e m e n t m a d e in J u l y 1 9 0 7 t h o L e h ig h V a ll e y T r a n s i t h a s Its s t o c k a n d 2 .4 0 0 s h a r e s ( t h e e n t ir e , is s u e ) o f P e n n . M o t o r s t o c k .
In t. on
P h il a d e l p h i a t e r m in a l in t h o P h il a d e l p h i a R a p i d T r a n s i t s t a t io n a t C h e s t n u t
E a s t o n & S o . B e t h . T r a n s i t b o n d s is p a y a b l o a t o f f i c e o f E d w . B . S m it h &
H ill.
V . 85, p. 99.
L a t o in 1 9 1 2 m a d e a c o n t r a c t f o r o x p r e s s s e r v ic o w it h
C o . . P h ila ., o r a t c o m p a n y ’s o f fic e .
T h e y a r e g u a r . p. & i. b y e n d o r s e m e n t
A d a m s E x p ress C o .
b y th e E a s to n C o n s o l. E le c .
A sinking fund, o f $ 5 ,0 0 0 p . a . c o m m e n c e d
I n M a r . 1913 th o A lle n to w n E le c . L t . & P . C o . a n d th o W h ite h a ll E m a u s
J u n e 1 1 9 0 S ; $ 2 9 ,0 0 0 h a v o b e e n r e t ir e d .
B o n d s a r e s u b j e c t t o c a ll a t 1 0 5 a n d
S l a t i n g t o n , H a n o v e r , W a s h i n g t o n , S la t e d a l e , N o . W h i t e h a l l, S o . W h i t e ­
In t.
V . S3, p . 3 23 .
h a l l , S a l i s b u r y , N o r t h a m p t o n H e ig h t s a n d S a u c o n c o m p a n i e s , a ll p r e v i o u s ly
R E P O R T .— F o r c a le n d a r y ea rs:
o w n e d b y T r a n s i t C o . , w e r e m e r g e d i n t o a n e w c o m p a n y , t h o L e h ig h V a lle y
Calendar GrossEarn. N et In c. N et In c. Total E. Bond In t. D ies. Balance.
L t . & P . C o . , w it h a n a u t h . c a p i t a l o f $ 8 5 0 ,0 0 0 , o f w h ic h $ 4 9 1 ,1 0 0 o u t ­
Year—
E .T ra n . E .T r.C o. Ed.Ill.Co Con.El. T ax.,A c. ( 4 % ) . Surplus
s ta n d in g ; p a r o f s h a re s, $ 1 0 0 .
- ■■■•
1 9 1 3 _______ . $ 4 6 8 , 5 0 8 $ 1 2 6 ,4 3 7 $ 2 3 ,0 1 2 $ 1 4 9 ,4 5 0 * 7 1 ,0 7 6 $ 3 0 ,0 0 0 $ 4 8 ,3 7 3
O n D e c . 2 2 1 9 1 3 t h e L e h ig h V a ll e y L t .& P o w e r C o . p u r c h a s e d a ll t h e o u t ­
1 9 1 2 ............... 4 2 7 ,5 3 6
9 4 ,3 3 6
2 4 ,7 8 3
1 1 9 ,1 1 9 7 5 ,7 3 9
3 0 ,0 0 0
1 3 ,3 8 0
s t a n d i n g s t o c k .and b o n d s o f t h e L e h ig h C o u n t y E l e c . C o . , N o r t h a m p t o n
K O A D . — E m b r a c e s p r a c t ic a l l y t h e e n t lr o s t r e e t r a ilw a y s y s t e m o f E a s t o n
C o u n t y E l e c . C o . a n d t h e C e m e n t o n E l e c . L t . & P o w e r C o . , w h ic h c o m p a n ­
a n d W e s t E a s t o n , P a . , a n d P h il ip s b u r g , N . J . , w it h lin o s fr o m East< n t o
ie s o p e r a t e in t h e b o r o u g h s o f C a t a s a u q u a a n d N o r t h C a t a s a u q u a , C o p l a y ,
B e t h l e h e m , S o u t h B e t h l e h e m a n d N a z a r e t h ; t o t a l t r a c k , 5 3 .7 0 7 m ile a .
N o r t h a m p t o n a n d t h e v ill a g e o f C e m e n t o n .
T h e L e h ig h V a ll e y L t . &
o p e ra te s th r o u g h ca rs fro m E a s to n t o B e th le h e m a n d S o u th B e th le h e m .
P o w e r C o . is s u e d $ 2 1 7 ,0 0 0 o f it s b o n d s f o r t h is p u r p o s e .
104 c a r s
I n A u g . 1 9 1 3 t h o c o m p a n y c lo s e d a c o n t r a c t t o s u p p l y e l e c t r i c it y t o t h e
O F F I C E R S .— P r e s ., I I . R . F e h r . A lle n t o w n , P a .;
V lc e .- P ., s . H .
P h il a d e l p h i a S u b u r b a n G a s & E l e c . C o . , a s u b s id ia r y o f t h o A m e r . G a s C o
H a c k e tt; S e c . & T r e a s ., F . A . H a z z a r d ; A s s t. S e c. & A s s t. T r e a s ., S . H .
V . 97, p . 521.
S a r g e n t .— V . 9 0 . p . 6 9 7 : V . 9 2 . p . 7 9 4 ; V 9 3 p . 9 4 0 . 1 0 2 4 ; V . 9 4 , p . 6 3 0 ;
O w n s t h e f o ll o w i n g s t o c k s :
V . 9 6 , p . 7 8 9 . 1021; V . 9 7 . p . 5 3 , 3 0 1 , 3 11; V . 9 8 , p .8 3 8 .
„
Cap. Stock.
Name o f Company —
•
Owned. Tot. issue.
A L L E N T O W N & R E A D I N G T R A C T I O N C O . — A t r o ll e y r o a d .
L e h ig h V a ll e y L i g h t & P o w e r C o . ( c o m m o n ) -------------------- $ 4 9 1 ,1 0 0 $ 4 9 1 100
O R G A N I Z A T I O N . — I n c o r p o r a t e d A p r il 2 5 189 8 a n d le a s e d t h o A l l e n ­
A l l e n t o w n B r i d g e C o ------------------ ----------------------------------------------- 2 9 2 ,0 0 0
2 9 2 ,0 0 0
t o w n & R e a d in g E l e c t r i c S t r e o t R y . f o r 2 9 0 y e a r s f r o m J u n o 4 1 8 9 8 .
Od
Q u a k e r t o w n T r a c t i o n C o ................. - ................................................. 2 7 5 ,0 0 0
3 0 0 ,0 0 0
F e b . 6 1 9 0 2 le a s e d f o r 2 9 0 y e a r s t h e K u t z t o w n & F l e e t w o o d S t r e e t R y .
R i t t e r s v il le H o t e l C o ................................................ ............................... 1 0 0 .0 0 0
1 0 0 ,0 0 0
C o n tr o ls th o K u tz to w n L ig h t, H e a t & l o w e r C o .
C o n n e c t s w it h U n it e d
E a s t o n C o n s o li d a t e d E l e c t r ic C o ----------------------------------------1 ,3 8 0 ,0 0 0 1 ,5 0 0 0 0 0
T r a c t i o n C o . t r a c k s f r o m R e a d i n g , t h u s f o r m i n g a t h r o u g h lin o f r o m A l l e n ­
N o r r i s t o w n T r a n s i t C o ------------------------------------------------------------1 2 ,0 0 0
24 000
to w n to R e a d in g .
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.
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L e a s e s B e t h le h e m & N a z a r e t h P a s s e n g e r R y . f o r 9 9 9 y e a r s a t 5 % o n s t o c k
STOCK AN D BO N DS.
Date.
Interest. Outstanding.
M atu rity.
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I n 191 1 o f f e r o f
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m o rtg a g e ,
$ 2 5 0 ,0 0 0 ,1 1 9 0 0
5 B J -J
2 5 0 ,0 0 0 J u l y 1 1 9 3 0
L e h ig h V a lle y T r a n s . C o . t o a c q u i r e Q u a k e r t o w n T r a c . b o n d s w a s a c c e n t e d
g . $ 1 0 0 ,$ 5 0 0 & $ l , 000 - c p t f I n t e r e s t a t F i d e l it y T r u s t C o . , P h il a ., t r u s t e e
b y a ll b u t $ 4 0 ,3 0 0 o f t h o b o n d s .
V . 9 1 , p . 71 6 , 1096; V . 9 2 , p . 3 2 3 , 528 ,
F ir s t M K u t z t o w n & F l e e t w 'd l 1 9 0 2
5 g J -J
2 0 0 ,0 0 0 J a n 1 1 9 3 2
660, 882.
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Proposed Purchase o f Power Co.— l o r j o i n t o f f e r o f t h o L e h ig h V a ll e y F ir$s2t 0 0c o,0n0s0o,l g umatrg op, &$ 750,0001
1902
5 g J -J
3 0 0 ,0 0 0 J u l y 1 1 9 3 2
T r a n s i t C o . a n d t h e U n it e d G a s I m p r o v e m e n t C o . t o p u r c h a s e c o n t r o l o f
g ( $ 5 0 0 & $ 1 ,0 0 0 ) c & r - c p t j I n t . a t I n t e g . T i t ..I n s . & T r . C o . , P h i l a . ,t r u s .
t h o L e h ig h & N o r t h a m p t o n L t . , f i t . & P o w e r C o . , s e o V . 9 7 , p. 1 42 6 1 4 2 9
Bonds.— O f t h e $ 7 5 0 ,0 0 0 o r n o w c o n s o l s , $ 4 5 0 ,0 0 0 a r e r e s o r v o d t o r e t lr s
Interest.
STO CK AN D BON DS—
Date.
O u ts ta n d in g .
p r i o r lie n s .
T h e y a r o s u b j e c t t o c a ll a t p a r a r t o r July 1 1 9 1 7 ; n o s in k in g
M a tu r ity .
C o m m o n , $ 3 ,0 0 0 ,0 0 0 , p a r $ 5 0 - _____
$ 2 ,9 9 7 ,3 5 0 ___________
fu n d .
T h e fir s t m o r t g a g o b o n d s a r e r e d e e m a b l e a t p a r .
P r e f , $ 5 , 0 0 0 ,0 0 0 , p a r $ 5 0 - - - ( ------M -N
4 . 9 7 9 ,6 8 7 M a y ’ 1 4 , 1 %
E A R N I N G S . — F o r y e a r e n d i n g D e c . 3 1 1 9 1 3 , g r o s s , $ 1 8 9 ,7 3 2 ; n e t ,
5 % , c u m a ft e r N o v 3 1 9 1 0 - /
$ 7 4 ,6 2 7 ; i n t . , d i s c . , & c . . ( in c l u d i n g $ 1 2 ,4 1 9 f o r p a v i n g in W a l n u t S t . ,
F ir s t m o r t g a g o , $ 5 , 0 0 0 , 0 0 0 ( 1 9 0 5
4 -5 g M -S
4 , 9 5 7 ,0 0 0 D e c 1 I 9 ’t5
A l l e n t o w n ) , $ 6 0 ,4 7 5 ; s u r p lu s , $ 8 , 1 5 2 .
g o l d ( $ 1 , 0 0 0 ) ...................... c t f / G u a r a n t y T r u s t C o . , N o w Y o r k T r u s t e e
R O A D . — O p e r a t e s 3 9 . 6 0 m ile s m a in lin e , 7 .5 0 m ile s s i d in g s — t o t a l ,
C o n s o l,
m tg o.
$ 7 ,5 0 0 ,0 0 0 .1
1905
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m ile s : 4 3 c a r s .
„
g o l d ( $ 1 , 0 0 0 ) .........................t f ( L e h i g h V a ll e y T r . & S . D . C o . A l l e n t o w n T r
O F F I C E R S . — P r o s ., I I . E . A h r e n s , R e a d in g ; V . - P . , W . D . M o h n ; S e c . ,
R e f & I m p m t g o $ 1 5 ,0 0 0 .0 0 0 1 1 9 1 0
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g o l d ($ 5 0 0 a n d $ 1 ,0 0 0 ) c * t f j L e h i g h V a ll e y T r u s t C o . , A l l e n t o w n . T r u s t e e
B e a r, K u tz to w n .— V 8 1 . p . 149 2; V . 8 2 , p . 210
B e t h . & N a z a r S t B y S t o c k ----- ----------------------1 5 0 .0 0 0
5 % guar
B o n d s — .................
t f ---------5 M -N
1 5 0 ,0 0 0 M a y 1 1 9 2 9
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1912
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( $ 5 0 0 a n d $ 1 , 0 0 0 ) ------- c * t f / G u a r . p . & i. b y L e h ig h V a lle y T r a n s i t C o
STARK ELECTRIC R R .— An olectric railroad.
L e h ig h V a l L & P m o r t g a g o r 1 9 1 3
5 g A -O
5 0 4 ,3 0 0 A p r i l 1 1943
$ 2 ,0 0 0 ,0 0 0 ( $ 1 ,0 0 0 , $ 5 0 0 & { L e h ig h V a ll o y T r u s t C o . , A l l e n t o w n , T r u s
O R G A N I Z A T I O N . — I n c o r p o r a t e d in O h io a n d Is a c o n s o l id a t i o n In D e c
$ 1 0 0 ) , g o l d .........................c * t f ( I n t . a t c o . ’s o f f i c e o r B r o w n B r o s . & C o .. P h i l a .
1 90 2 o f t h e A l l i a n c e E l e c t r i c R y . a n d t h o S t a r k E l e c t r ic l l y .




ALLIANCE, OHIO.

May , 1914.]




ELECTRIC RAILWAYS

7

8

STOCK AN D BONDS
Dale.
Interest. Outstanding.
M aturity.
S t o c k , $ 1 , 5 0 0 ,0 0 0 ( $ 1 0 0 ; ............
Q -J
$ 1 ,2 5 0 ,0 0 0 A p r '1 4 ,% %
F ir « t m t g o , $ 1 ,0 0 0 ,0 0 0 , g o l d / 1903
($ 1 .0 0 0 ) s i n k i n g fu n d '. c a l L / c i t l z o n s ’ S a Y & T r . C o . ^ o i o v e l a i i d ! 1t r u s t e e
? £ " e .a *' ^ 95/ “ t ,v c — - C t f l l n t . a t U n t t e d B a n k & S a v . C o . , C l e v e l a n d . .
rJ Z
i1% , r o U , e r ut ir w l a n n u a l ly f r o m J a n . 1 191 1 t o J a n . 1 1 9 1 5 ;
^ i 9i ^
to 1928.
$ 4 2 ,0 0 0 h a v e b e e n r e t ir e d .
d Ivp
p a id J u ly 1 90 8: H % h a s b e e n p a id q u a r .
i l n M t o ^ a n d ^ t n c lu d in g ^ V p r 1 9 1 4 .
I n A p r il 1910 a ls o a s t o c k d iv id e n d o f
.
i N ° S • — f ’o r c a t e n d a r y e a r 1 9 1 2 . g r o s s . $ 2 7 2 ,4 9 1 ; n e t , $ 1 2 1 ,2 9 9 .
I n 1 9 1 1 , g r o s s , $ 2 6 0 ,5 8 2 ; n e t . $ 1 4 0 ,0 1 7 .
, , / / O A D . — O p e r a tas 3 4 m ile s o f t r a c k f r o m C a n t o n t o S a l e m , i n c lu d in g
A ll a n c e C i t y lines,.
S ta n d a rd g a u g e.
6 7 a n d 7 0 - l b . T r a ils a n d 7 0 a n d
9 0 - l b . g i r d e r r a i ls .
T o t a l m il e a g e , I n c lu d in g d o u b l e t r a c k , 3 6 m il e s .
An
e x te n s io n fro m A llia n c e t o M a r lb o r o u g h a n d N e w B a lt im o r e a n d e v e n tu a lly
t o A k r o n Is b e i n g c o n s t r u c t e d ; l in e p a r t l y g r a d e d .
O F F I C E R S .— P r e s ., C . R . M o r le y , C le v e la n d ; V . - P . , D a v id M o r ls o n ,
S e c ., E . S . C o o k ; T r e a s ., E . S tra u ss; A u d ., A . J . S a m p s o n : G e n . M g r .,
F . L . M o w r y .— V . 7 6 , p . 973; V . 8 6 , p . 1468; V . 9 0 . p . 4 4 8 , 7 0 0 . 1171.

FONDA JO H N STO W N
& G L O V E R S V IL L E
R A IL R O A D
C O .—
S te a m a n d e le ctr ic r o a d .
S e e s t a t e m e n t in " R a i l w a y & I n d u s t r i a l S e c . ’

A N D E R S O N , IN D .
U N IO N T R A C T I O N

CO. OF

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r? Cr0 r P,' o n M a y 13 1 9 1 2 a s a c o n s o l id a t i o n o f t h e
old U n io n T r a c t i o n C o . o f I n d i a n a ( I n c o r p . M a y 2 8 1 9 0 3 ) a n d t h e I n d ia n a
U n io n T r a c . C o . ( I n c o r p . J u n e 9 1 9 0 3 ), p o r p l a n In V . 9 4 , p . 1 1 1 9 1 18 5- V
9 5 , p . 8 1 9 ; a n d a s a r e s u lt o f w h ic h c a p i t a l w a s m a t e r ia l l y r e d u c e d .
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$50 0 ,0 0 0 c u m . p rof, s to c k ; V . 8 3 , p . 9 6 . T h e old U n ion T r a c C o o f l,i i h , n
w as a c o n s o lid a tio n o f th e U n ion T r a c . C o . o f In d ia n a (In corp- in Ju n e 1 8 9 0 1
a n d th e ta d ia n a p oU s N o rth e r n T r a c . C o . (ln co rp in A p r ^ i g o ^
1 8 9 9 )'
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O c t e 25eS191p>lianaP<>MS N e w ca s tI° & E a stern T r a c . C o . fo r 999 years fro m
STOCK A N D BO N D S.
Date.
Interest.
Outstanding.
M aturity.
C o m m o n , $ 5 , 0 0 0 . 0 0 0 __________
- $ 5 ,0 0 0 ,0 0 0
1 st p r e f , $ 1 , 0 0 0 , 0 0 0 , 5 % c u m ________ I A - O
1,000,000
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I n 2 j ^ L l r a c t ,o n lsfc M $ 6 .-1 1 9 0 3
5 g A -O
1 . 6 2 0 .0 0 0 J u l y 1~ 19 33
tt 9 0 0 , 2 P ° ( $ 1 , 0 0 0 ) g o l d . , t f / i n t e r e s t a t G ir a r d T r u s t C o . , P h ila 7 t r u s t e e
U n io n T r C o o f I n d 1st g e n M l
1 89 9 5 g J - J
4 ,5 7 3 0 0 0 J u i v 1 H M O
$5 0 0 0 ,0 0 0 g ($ 1 .0 0 0 )c & m f/E q u it a b l e T r . C o ., N e w Y o r k , tru stee 919
C o l l a t e r a l n o t e s _______________ . .
150 0 0 0

(Mlln) 1st M l

1897 6 g J-D ~~

N et (after
Other
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Incom e.

Bond
In t.,& c.

D ivldends

Balance,
Surplus.

* 8 8 1 ,7 5 4
$ 5 1 ,7 9 8
$ 8 5 8 ,8 5 8
$ 5 0 ,0 0 0
1 9 1 3 ------------- $ 2 , 4 6 6 , 8 3 2
$ 2 4 ,6 9 4
1 9 1 2 -- ,-,— - - 2 , 3 0 8 , 6 4 9
8 8 4 ,1 9 5
8 ,1 0 8
7 6 5 ,7 1 1
37 500
cu
8 9 ,0 9 2
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C o . o f I n d ia n a ( c o n s o li d a t e d c o m p a n y ) 1st p r o f , s t o c k - in 1 91 2 1837 5f)n v
in c lu d e s t h o d i v i d e n d o n U n io n T r a c t i o n C o . o f I n d i a n a ( o ld c o ) p r o f s t o c k
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t o n (2 0 m il e s ) ; a ls o a n I n t e r u r b a n l in o f r o m M u n c i o v i a Y o r k t o w n D a lo v l ll o . C h e s t e r f ie l d , A n d e r s o n , P e n d le t o n , I n g a lls , F o r t v l ll e , M c C o r d s v i l l e
a n d L a w r e n c e t o I n d i a n a p o li s ( 5 6 Yi m il e s ) ; a ls o a n In t e r u r b a n lin o f r o m
L o g a n s p o r t , v i a K o k o m o , T i p t o n , A t l a n t a , A r c a d i a , C i c e r o , N o b le s v i l lo
C a r m e l , B r o a d R i p p l o , t o I n d i a n a p o li s ( 8 0 m il e s ) , a n d f r o m P e r u t o K o k o m o
( 1 9 % m ile s ) ; a ls o a lin o f r o m A n d e r s o n t o M i d d l e t o w n , 1 0 m ile s , p u t in
o p e r a t i o n A u g . l 1 9 0 5 ; a lin o f r o m M u n c i o t o U n io n C i t y (3 3 m il e s ) ; a n d a
l in o f r o m M u n c i o t o N e w c a s t l e (1 8 m ile s ) p u t in o p e r a t i o n A u g . 31 1913t o t a l 2 9 0 m ile s o f I n t e r u r b a n a n d 4 6 % m ile s o f c i t y lin e s .
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lin e , 4 4 >5 m ile s ; g r a n d t o t a l , 4 2 3 m ile s . T h r o u g h c a r s a r o r u n b e t w e e n
I n d ia n a p o lis a n d F o r t W a y n o in c o n j u n c t i o n w it h t h e F o r t W a y n e &
N o r t h e r n I n d ia n a T r a c t i o n C o .
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t o a ll o t h e r p o i n t s o n t h e s y s t e m .
O p e r a t e s t h r o u g h f r e ig h t s e r v ic o b e t w e e n
I n d i a n a p o li s a n d F o r t W a y n e .
B y c o n t r a c t u n t il N o v . 1 9 3 3 c a r s a r e r u n
o v e r t r a c k s o f I n d i a n a p o li s S t r e e t R y . in I n d ia n a p o lis . S in c o J u n o 1 9 0 9
c a r r ie s express m a t t e r p e r c o n t r a c t w it h U . S . E x p r e s s C o . A la r g e c e n t r a l
p o w e r s t a t io n , w it h n e c e s s a r y s t o r a g e b a t t e r ie s , a t A n d e r s o n , o p e r a t e d o n
a t h r e e -p h a s o s y s t e m , w it h 19 s u b - s t a t io n s , lik e w is e e q u i p p e d w it h s t o r a g e
b a t t e r ie s , o p e r a t e s e n t ir e s y s t e m .
s
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f r e i g h t c a r s a n d 1 2 0 s e r v ic e c a r s ; t o t a l , 3 9 0 .
O F F I C E R S . — P r e s ., A . W . B r a d y , A n d e r s o n ; V . - P . , H a r o ld B . I T lb b o n S e c . Sc T r e a s . , W m . I I . F o r s o J r . , A n d e r s o n . G e n e r a l o f f i c e s a n d t r a n s fe r
o ffic e s , A n d e r s o n , I n d .— V . 9 4 . p . 1 3 8 5 , 1567: V . 9 5 . p . 2 9 8 . 3 6 2 , 8 1 9 ­
V . 9 6 . p . 6 4 , 137 , 7 1 7 , 108 3; V . 9 7 , p . 4 4 6 : V . 9 8 . p . 8 4 0 , 9 0 5 , 1001.
(1 ) I n d i a n a p o l i s N e w c a s t l e & E a s t e r n T r a c t i o n C o .
L e a s e d t o U n io n T r a c t i o n C o . o f I n d ia n a o n O c t . 2 5 1 9 1 2 f o r 9 9 9 y e a r s
T h o le a s o p r o v i d e s f o r t h o p a y m e n t o f a ll t a x e s , in t e r e s t o n b o n d s , a s u m
e q u iv a le n t t o 5 % o n th o p re fe rr e d s t o c k , a n d a m o u n ts on th o c o m m o n s to c k
a s f o l l o w s : 1 % In 1 91 3 a n d 1 9 1 4 , 2 % in 1 9 1 5 a n d 1 9 1 6 , 3 % In t h o n e x t f o u r
y e a r s ancl *1(I,, t h e r e a ft e r ; a ls o $ 5 0 0 f o r o r g a n i z a t io n e x p e n s e s .
O R G A N I Z A T I O N . — I n c o r p . in I n d i a n a o n J u n o 10 1 9 1 2 a s s u c c e s s o r t o
t h o I n d ia n a p o lis N e w c a s t l e Sc T o l e d o E l e c . R y . , s o l d a t f o r e c l o s u r e .
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I n d i a n a p o li s in t e r u r b a n t e r m in a l.




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I n c lu d e d In r e p o r t o f U n io n T r a c t i o n o f I n d i a n a .
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p d1 3 5 U n l° n T r a c t l o n G o - o f I n d i a n a — V . 9 4 . p . 1 5 6 5 ,

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a n d h a l f o f t h o i n t . o n t h e r e m a in in g $ 2 0 0 ,0 0 0 b o n d s .
R O A D . — 7 *4 m ile s o f t r a c k f r o m I n d i a n a p o li s t o B r o a d R i p p l o P a r k .
O F F I C E R S .— P r e s ., R o b e r t I. T o d d ; S e c ., J o s . A . M c G o w a n ; T r e a s .,
E . B . P eck.
V . 6 9 , p . 1 80 ; V . 7 3 , p . 1 3 7 , 1 8 3 ; V . 7 8 , p . 1 1 6 7 .

A N N IS T O N , A L A .
A N N IS T O N E L E C T R IC & G A S C O .
O R G A N I Z A T I O N . — I n c o r p o r a t e d in N e w J e r s e y in 1 8 9 9 t o t a k o o v o r
t h e A n n is t o n E l e c t r i c C o . a n d t h o O x f o r d L a k e L i n e , s o l d a t f o r e c l o s u r e
1 8 9 9 ! a l s o a c q u i r e d a t r e c e iv e r s ’ s a le t h o A n n is t o n G a s & L i g h t C o .
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o f b o n d s o u t b e ca m e o p e r a tiv e o n D e c . 1 1905, b u t to b o a v a ila b le fo r b o n d
r e d e m p t io n s o n l y i f t h o m o n e y c a n n o t b o a d v a n t a g e o u s l y e m p l o y e d " f o r
t h o a c q u i s i t i o n o f p e r m a n e n t e x t e n s io n s a n d a d d it i o n s ”
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S’0 4 ,’ 3 ? 2 : f ,x e d c l! a, % cs^ ;S.1 5 ’ ° P 0: ?.thcr. d e d u c t i o n s , $ 1 2 ,1 7 7 ; s u r p l u s , $ 3 7 ,3 0 2 .
I n 1 9 1 2 , g r o s s , .$ 1 7 3 ,7 8 4 ; n o t , a f t e r t a x e s , $ 6 3 ,0 0 4 ; f i x o d c h a r g e s $ 1 5 0 0 0 :
o t h e r d e d u c t i o n s , $ 1 2 ,0 0 5 ; s u r p l u s , $ 3 5 ,9 9 9 .
e n a r g e s , $ t o ,u u o ,
R O A D . — O p o r a t e s 10 m ile s o f r o a d f r o m A n n is t o n t o O x f o r d L a k e .
I n c lu d in g 5 m ile s o f t r a c k o n c i t y s t r e e t s .
O F F I C E R S . — P r e s . , J . W . W o r t h i n g t o n , B i r m in g h a m , A l a • V - P s . ,
F r a n k S . W a s h b u r n , N a s h v i ll e , T o n n . , a n d R . A . M i t c h e l l , G a d s d e n A l a .
S e c . & T r e a s . , W i l e y A l f o r d , B i r m in g h a m ; M a n a g e r , \V. R
iia ll-’ A sst
T r e a s ., L . W . J a c k s o n .— V . 6 8 , p . 9 2 8 ; V . 6 9 , p . 2 8 3 .
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g u a r g o l d ( $ 1 ,0 0 0 ) . . . c U f / l n t . a t F i d e l i t y T r u s t C o . , P h i l a . , t r u s t e e
S T O C K . — D i v s . o n 2 d p r e f . s t o c k a r e c u m . f r o m 1 % s e m l- a n n u a l lv In
1 9 1 3 , s c a lin g u p w a r d t o 3 % s e m i- a n n u a l ly in J u l y 1 9 1 8 a n d t h e r e a ft e r
B onds— O f t h e I n d . U . T r a c . b o n d s o f 1 9 0 3 , $ 3 ,3 8 0 ,0 0 0 w e r e r e s e r v e d
f o r e x t o n s , a n d i m p t s . , b u t u n d e r t e r m s o f c o n s o l id a t i o n a g r e e m e n t o f 1 9 1 2
t h e s o b o n d s h a v e b e e n c a n c e l e d . $ 2 5 4 ,0 0 0 a r o h o l d a liv o in t h e s in k in g f u n d
S in k in g f u n d , 1 % % p e r a n n u m o f o u t s t a n d i n g b o n d s , b e c a m e o p e r a t i v e
o n J u ly 1 190 4.
F u n d is t o b o i n v e s t e d In t h e b o n d s a t n o t a b o v e 1 0 5 a n d
I n t ., a n d b o n d s m a y b o d ra w n a t 105 a n d ln t. o n a n y in t. d a t e .
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B ee V . i l . P - 1 0 1 3 .
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N o r t h e r n I r a c . b o n d s a r o s u b j e c t t o c a ll a t 1 0 5 a n d i n t . o n s ix w e e k s ’ n o t i c e
T h e y a r e g u a r . p . Sc I. b y I n d . U n . T r a c . C o .
V . 82, p . 805.
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S ee V . 8 0 , p . 1059.
$ 5 3 ,0 0 0 h a v e b e e n r e t ir e d .
T h o M u n . & U n io n
C i t y b o n d s a r e s u b j . t o c a ll a t 1 0 5 a n d g u a r . , p . & 1., b y I n d . U n . T r a c
Dividends — 5 % is b e i n g p a id o n f ir s t p r e f . s t o c k . D i v i d e n d s o n s e c o n d
p r e f . s t o c k h a v e n o t b e e n p a id s i n c e J u l y 1 9 1 2 .
R E P O R T .— F o r ca lo n d a r y e a rs;

Gross
Earnings.

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Interest. Outstanding. Maturity.
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n i m S n f £ ,C f!fim a n n g
M . b o n d s , $ 1 0 0 ,0 0 0 m a y b o Is s u e d u p o n f u l Im n /Z fk w w tJ?,i1\ c o v o n a a t ? ,a,m i b a la n c e f o r 7 5 % o f c o s t o f e x t e n s io n s ,
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STOCK AN D

iS f o K y s t ..* '

AM STERDAM , N. Y ,

Calendar

[Vol . XCVIII.

ELECTRIC RAILWAYS

A S B U R Y P A R K , N . J.
A T L A N T I C C O A S T E L E C T R I C R Y . — T r o llo y .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In N e w J e r s e y o n D e c . 8 1 9 0 5 a s
s u c c e s s o r t o t h e A t l a n t i c C o a s t E l e c . R a ilr o a d C o . , s o l d u n d e r f o r e c l o s u r e o f
th e g e n era l m o r tg a g e o f th o la tte r .
L e a s e s t h e S e a s h o r e E l e c t r ic R y o f
A s b u r y P a r k u n t il J u n e 6 1 9 3 7 a t $ 1 0 ,0 0 0 p e r y e a r a n d o w n s $ 1 5 0 ,0 0 0 o f t h e
$ 2 0 0 ,0 0 0 t o t a l c a p i t a l s t o c k o f l a t t e r c o m p a n y ( m a k in g n e t r e n t a l $ 2 , 5 0 0
a u d o w n s a ll o f t h e s t o c k o f t h o W e s t E n d & L o n g B r a n c h R y . a n d o f t h e
A s b u r y P a r k & S e a G ir t H R . ; t h o f o r m e r Is le a s e d f r o m A u g . 3 1 8 9 6 u n t il
J u l y 17 1 9 4 5 a t a n o m i n a l r e n t a l , a n d t h o l a t t e r f o r 9 9 y e a r s a t 6 % o n s t o c k
fro m A u g . 27 1898; b o t h s to c k a n d b o n d s o f A s b . P a rk & S . G . a ro o w n e d .
A l s o e n t ir e s t o c k ( $ 1 0 0 ,0 0 0 ) o f t h o A t l a n t i c C o a s t E l e c t r i c L i g h t C o . , w h ic h
s u p p lie s t h o e l e c t r i c lig h t s o f A s b u r y P a r k , A l l o n h u r s t . B o l m a r , O c e a n
B e a c h , C o m o a n d S p r in g L a k e .
T h e S e a c o a s t T r a c t i o n C o . ( c a p it a l
$ 1 0 0 ,0 0 0 ) , r u n n in g f r o m B e lm a r t o S p r in g L a k o , 2 m ile s , h a s b e e n le a s e d
t o t h o A t l a n t i c C o a s t E l e c t r ic R y . f o r 9 9 y e a r s ; its s t o c k a n d b o n d s a r o
ow ned.
Franchise In B e lm a r e x p ir e s in 1 9 4 7 ; in A s b u r y P a r k in 1 9 3 7 ; in
L o n g B r a n c h , s o m e o x p ir o in 1 9 4 5 a n d o t h e r s a r e p e r p e t u a l ; in O c e a n T o w n ­
s h i p , p e r p e t u a l ; in S o a G ir t , e x p ir o in 1 9 1 5 , 1 9 2 6 a n d 1 9 5 6 ; fr a n c h is e s o f
S e a co a s t T r a c t io n C o . a ro p e rp e tu a l.
a f S T ° i / Innr;In n n
— ' D atcInterest. Outstanding. Maturity.
---------------s i 00 0 0 0 0 In 1913 3 %
S t o c k $ 1 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) --------- ---------5 g M -N
8 0 0 ,0 0 0 M a y
1945
S finnl o r ^ a “ l! g o l d 5 1 .0 0 0 .- 1 1 8 9 5
0 0 0 ........................................... n t t / I n t . a t K n ic k e r b o c k e r T r . C o
N . Y .. T ru s.
G c / 4 i ? i lo ^ 0 5 1 ,0 0 0 ,0 0 0 g o l d / 1 9 0 6
5 g J -J
1 ,0 0 0 ,0 0 0 J u l y 1 1 9 1 5
($ 1 ,0 0 0 ) . . . -------------------- c t f l l n t e r e s t a t C e n t r a l T r u s t C o . , N . Y . , T r u s t e e .
S e a s h o r o E l R y s t o c k __________ _______
__________
200 000
S ea sh oro
E le c t r ic
Ry
1 st! 1892
6 g J -J
200 000
"1917
m o r t g a g e $ 2 0 0 ,0 0 0 --------- t f / I n t . a t S e a c o a s t N a t . B a n k ! A s b u r v P it N J
A t l a n t i c C o a s t E l e c t r i c L i g h t f _____
5
J -D
241 00 0 J u n o 1 1 945
F ir s t m o r t g a g e $ 5 0 0 ,0 0 0 ) I n t . a t A s b u r y P a r k & O c e a n G r o v o B k
g o l d .............................. .............n t f (
A sb . P k . M o rto n T r . C o ., N . Y
tru stoo’
Bonds.— O f t h e $ 1 ,0 0 0 ,0 0 0 f ir s t s , $ 2 0 0 ,0 0 0 a r o r e s e r v e d t o r e t ir e a lik o
a m o u n t o f S e a s h o r o R y . 6 s.
T h o l a t t e r a r o s u b j e c t t o c a ll a t 1 0 5
E n t ir e
b o n d s a n d s t o c k o f t h o A s b u r y P a r k & S e a G ir t ( $ 5 0 ,0 0 0 e a c h ) a n d t h o S o a c o a s t T r a c . C o . ($ 1 0 0 ,0 0 0 e a c h ) a r o d e p o s i t e d u n d e r t h o n o w g e n e r a l m t g o
R O A D . — 'B e l t lin o in A s b u r y P a r k , 5 .8 5 m ile s ; A s b u r y P a r k t o P le a s u r e
B a y a n d N o r t h L o n g B r a n c h , 1 4 .6 0 m llo s ; A s b u r y P a r k t o S e a G ir t , 1 1 .8 6
m ile s ; t o t a l t r a c k , 3 2 .3 1 m ile s .
C o n n e c t s a t P le a s u r e B a y w it h t h o N o w
Y o r k Sc L o n g B r a n c h S t e a m b o a t C o .
R E P O R T . — Y e a r s e n d in g D e c . 3 1 :
1913.
1912.
1911.
1910.
1909.
G r o s s e a r n i n g s ...................... $ 4 3 7 ,8 5 6 $ 4 2 7 ,8 8 3 $ 4 2 2 ,7 5 5 $ 4 0 2 ,4 9 5 $ 3 8 9 ,6 1 9
O p e r a t in g e x p e n s e s ............
2 3 6 ,7 8 3
2 2 5 ,6 8 3
2 1 6 ,0 1 4
1 9 8 ,5 4 7
1 9 1 ,7 0 1
N o t e a r n s , f r o m o p e r . . $ 2 0 1 ,0 7 3 $ 2 0 2 ,2 0 0 $ 2 0 6 ,7 4 1 $ 2 0 3 ,9 4 8 $ 1 9 7 ,8 2 8
In 1 9 1 3 , m ls c . i n c . , $ 9 8 0 ; f ix e d c h a r g e s , $ 1 2 7 ,4 9 0 ; s u r p lu s . $ 7 4 ,5 6 3 .
O F F I C E R S . — P r e s ., S . F . I la z e lr i g g , N . Y . ; T r e a s . , H . I I . R o g e r * ,
S e c ., G . B . C a d e ; S u p t., C . E . I le r o t h .— V . 8 1 , P- 9 7 4 , 1 4 3 5 , 1 72 2.

A S H T A B U L A , O H IO .
ASHTABULA RAPID TRANSIT CO.
, , , r

A „

I n F e b . 1 9 0 7 c o n t r o l o f t h is r o a d w a s a c q u i r e d b y L . A . R o b i s o n , P r o s ,
o f t h e P e n n . & O h io R y . , a n d a s s o c ia t e s .
O R G A N I Z A T I O N .— C h a rte re d O c t . 7 1890.
STOCK AN D BON DS—
Date.
Interest. Outstanding. M aturity
S t o c k , $ 5 0 0 ,0 0 0 .....................................................................
$ 5 0 0 ,0 0 0 ....................
1 st
m tg o,
$ 7 5 ,0 0 0 ,
g o l d ! 1 89 1
6 g J -J
„
7 5 ,0 0 0
S eo to x t. "
($ 1 ,0 0 0 ) - .........................c * & r / l n t . a t C e n t r a l T r u s t C o . , T r u s t e o , N . Y . O .
2 d m t g e , $ 5 0 0 ,0 0 0 ...................... / 1 9 0 7
5 M -S _
4 1 2 ,0 0 0 S e p t 15 1 9 2 7
(C it iz e n s S . & T . C o . , C le v e la n d , tru steo.
Bonds.— $ 7 5 ,0 0 0 2 d m t g o . b o n d s a r o r e s e r v e d f o r p r io r lie n s . 1 st M
b o n d s o r ig in a ll y m a t u r e d J u l y 1 191 1 b u t w o ro o x t o n d e d 10 y o a r s t o J u l y I
E A R N I N G S . — Y e a r e n d in g D e c . 3 1 1 9 1 3 , g r o s s , $ 8 3 ,1 7 6 ; n o t , $ 2 6 8 8 0 ­
in 1 9 1 2 , g r o s s , $ 8 0 ,6 0 3 , n e t , $ 1 8 ,6 8 9 .
„
„
'
R O A D . — O p e r a t e s 5 m ile s o f t r a c k o n
m ile s o f s t r e e t .
O F F I C E R S . — P r e s ., L . A . R o b i s o n , P i t t s b u r g h ; S e c . Sc T r e a s . W y n B
M o r r i s , P i t t b u r g h ; G e n . S u p t . , P a lm e r W a r d m a n , A s h t a b u l a . V . 8 5 , p .4 6 8 ;
V . 98, p . 761.

PENNSYLVANIA & OHIO RY.— A trolloy road.
T h e s a m e in t e r e s t s c o n t r o l t h o A s h t a b u l a R a p i d T r a n s i t C o .
O R G A N I Z A T I O N . — I n c o r p o r a t e d M a r c h 17 1 8 9 8 .
STOCK AN D BON DS—
Dale.
Interest. Outstanding.
M aturity.
S t o c k ( $ 1 0 0 ) , $ 1 ,6 0 0 ,0 0 0 a u t h ..................................... v
$ 1 ,3 0 0 ,0 0 0
..............
F *rst m t g o , $ 6 0 0 ,0 0 0 , g o l d . l 1 90 1
5 g M-S
6 0 0 ,0 0 0 Mar 15 1921
$ 5 0 0 e a c h ................................ c * / I n t . a t C it iz e n s S a v . & T r . C o . , C l e v . , T r u s .
J e f /w s o n
D iv ls io n
($ 5 0 0 ), 1 1902
5 g M -S
1 0 0 .0 0 0 M a r 15 192 2
$ 1 0 0 ,0 0 0 ........................................ / l n t . a t C i t i z e n s S a v . & T r . C o . . C l o r . , T r u s .
G e n m t g o , $ 9 0 0 ,0 0 0 , g o l d ! 1 9 0 6
5 g M -S
2 0 0 .0 0 0 S e p t 15 1 92 6
( $ 5 0 0 ) ----------------------------------- c / I n t . a t C i t i z e n s ’ S a v . & T r . C o . , C l o v . , T r u s .
Bonds.— O f t h e n o w g e n . m t g o . b o n d s . $ 7 0 0 ,0 0 0 a r o r e s e r v e d t o r e t ir e
p r io r lie n s .

M a y , 19 1 4 .]

ELECTRIC RAILWAYS

a




10

ELECTRIC RAILWAYS

E A R N I N G S .— F or calen dar y e a r 1913, g r o s s , .$121,329; n e t , $ 5 1 ,6 9 1 ’
In 1912, gross, $123,030; n e t, $'15,801.
I t O A D .— O w ns a n d op e ra te s th e C o n n e a u t c it y lin e, 3 m ile s, a n d has
b u ilt w estw a rd fro m C on n e a u t t o K in g sv ille & A s h ta b u la , 13 m ile s , an d
sou th fro m A sh ta b u la to J e ffe rs o n , 10 m iles; t o ta l, 26 m iles.
O F F I C E R S .— I’ r e s ., L . A . R o b is o n , P ittsb u rg h ; S ec. & T r e a s ., W . B .
M o r r is , P itts b u rg h ; G en . S u p t., P a lm er W a r d m a n . O ffic e a t A s h ta b u la .
— V . 8 2 , p . 929 , 9 8 7 . _____________

[Vol . XCVIII

1916, in clu sive , a n d $ 50 ,000 per an n u m th e re a fte r. See V . 74, p . 62 9 , 72 7 .
A tE C o n s o l. S t. R y . b o n d s aro re d . as a w h ole at 1071a . b u t
§ 2 5 ,0 0 0 in Jan . o f each y e a r fo r sin k in g fu n d at 105. A sin kin g fu n d o f
$ 2 o ,0 0 0 per ann um is also o p e ra tiv e o n th e u n d erlyin g b o n d s o f th o A tla n ta
C o n s o lid a te d S treet R y . O f th o re f. & im p t. m tg o . b o n d s , $ 1 1 ,2 3 0 ,0 0 0
are roserved t o retire p rio r lions (in clu d in g th o $ 1 0 0,00 0 A tla n ta & N o rth ern
b o n d s) a n d $ 0 ,923,000 fo r extensions an d im p ro v e m e n ts u p t o 7 5 % o f
actu al c o s t . $46 ,000 h a v e been rotired . B o n d s aro s u b je c t t o ca ll o n 50
d a &s- !-l?tic,0 at
an d ln t-: a sinking fu n d o f 1 % o f b o n d s o u t b e g a n in 1910.
D ividends. 5 % per an n u m Is bein g paid on preferred s t o c k .
On c o m . ,
ATLANTA, GA.
d Iv?h?m V eAbe0n:or^-u,s,V 1J 0 5 ■r2 % : F eb - 1006, 2 % ; M a y 1906, l ' A % ( V . 8 2 .
p . 1040); A u g . 20 1 H % .
In 1907, F e b . 20, I A % ; M a y 2 0 ? 1 A % an d
G E O R G I A R A I L W A Y & P O W E R C O .— (See M a p on page 9 .)
s to c k d iv . o f 33 1 -3 % (V . 8 4 , p . 8 0 3 ); A u g . 20 1 A % - N o v 20 1 A % : In
O R G A N I Z A T I O N .— I n c o r p . In G e o rg ia o n O c t . 16 1911 t o ta k e o v e r
1908 6 % ; ’ 09, 6 % ; in ’ 10. 6 H % ; in 1 9 1 1 ,8 % ; in 1 9 1 2 , F c 4 ) . 2 % ; M a y ! 2 %
th e fo llo w in g prop erties ( V . 93, p . 1191, 1725):
D iv id e n d s aro n o w p aid under lease (seo a b o v e )
A tla n ta F ly d ro-E lec. P o w e r C o .
I In te r-S ta te P o w e r C o .
I N G S .— Incluclec1 in r e p o rt o f G e o rg ia R y . & P o w e r C o ! a b o v e .
A t la n t a W a ter & E le c . P o w e r C o .
S a v a n n a h R iv e r P o w e r C o .
nn1nO A D .’.— ° o P r 202-816 m iles o f track (sin glo-tra ck b a s is ). 7 0 , 8 0 an d
G e o rg ia P o w e r C o .
(S o u th C a ro lin a P o w e r C o .
9 0 -lb . rails. 345 m o t o r ca rs . 2 po w e r sta tion s.
A ls o leases th e G eorg ia R a ilw a y & E le c tr ic C o . (see b e lo w ).
O F F I C E R S .— P r e s ., F . E . B lo c k ; V .- P ., T . K . G le n n - Sec & T rea s
I t Is pla n n ed to co n s tr u c t a n d o p e ra te in c o n n e c tio n w ith th e d e v e lo p ­ W . II. W r ig h t.— V . 9 2 , p . 59, 395 , 460; V . 93, p . 286 , 730 , 1191. 1259',
m e n t o r th e w ater pow ers a sy ste m o f in teru rb an ra ilw a ys.
1461, 1599, 1725; V . 9 4 , p . 123, 35 0 , 559 , 982 , 1119, 1563; V 9 5 . p . 1122
In Ju n o 1912 J u d g e P en d le to n in th e S u p erior C o u rt sustain ed a dem u rrer
1207; V . 96, p . 716 , 1021; V . 9 7 , p . 521; V . 9 8 , p . 30 4 , 386 .
t o th e su it brou g h t t o h a v o th e c o m p a n y d eclared a tru st in v io la tio n o f th e
(a) A t l a n t a N o r t h e r n R a il w a y C o . — A tro lle y r o a d .
A n ti-T r u s t la w . V . 94, jp. 1763. A n ap p ea l w as tak en t o th e S up rem o
C o u rt b u t In Jan . 1913 th e su it w as w ith d ra w n .
V . 96, p . 285.
O R G A N I Z A T I O N .— E n tire s t o c k is o w n e d b y the G e o rg ia R a ilw a y &
In a su it brou g h t b y th e A tto r n e y -G e n e ra l o f G e o rg ia in N o v . 1912 t o ’ E le c tr ic C o . , w h ich gu aran tees th e b o n d s.
e je c t th e c o m p a n y fro m certa in p r o p e r ty a t T a llu lah F alls, w h ere a large
STOCK A N D BO N DS—
D a te.
In terest. O utstanding. M a tu rity.
p o w e r -p la n t has been c o n s tr u c te d , a ju r y in th e R a b u n C o u n t y S u p erior
$10 0 ,0 0 0 .......................
C o u r t a t C la y t o n , G a ., in M a y 1913 g a v e a v e r d ic t in fa v o r o f th e c o m p a n y . S to c k , $ 1 0 0 ,0 0 0 ............................. .... ............................
First
m
o
rtg
a
g
e
$40
0
,0
0
0
gu
a
r
1
1901
5
g J-J
4 0 0 ,0 0 0 J u ly 1 1954
T h e S u p rem o C o u rt o f G e o rg ia o n D e c . 13 1913 a ffir m e d th e d e cisio n o f
($500 an d $ 1 ,0 0 0 ) g o l d , -C*J I n t. a t O ld C o lo n y T r . C o . , B o s t o n , T ru stee.
t h e low er C o u r t . V . 9 5 , p . 1472. 1541; Y . 96, p . 1629; V . 9 7 , p .1 8 2 2 .
Bonds.— A re g u a r ., p . & i ., b y e n d ., b y th o G a . R y . & E le c . C o . A ro s u b­
STO CK AN D BON DS—
D a te.
Interest. Outstanding.
M a tu r ity .
je c t to ca ll o n a n y in t. d a te a t 110 an d in t. A sin k , fu n d o f $ 5 ,0 0 0 per an n .
C o m m o n , $1 5 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) . .................... ............ $ 1 5 ,0 0 0 ,0 0 0 ....................... began in 1909; b o n d s aro h eld in sin kin g fu n d b u t n o t ro tire d . See V .
1st p f$ 2 ,0 00 ,000 6 % c u m ($ 1 0 0 ) ........
...............
2,0 0 0 ,0 0 0
Seo text
79, p . 680 .
...........................
10,0 0 0 ,0 0 0 .......................
2d pfSlO.OOO.OOO 4 % n -c ($ 1 0 0 )
E A R N I N G S .— F o r c a l. y ear 1913, gro ss, $ 14 0,03 6; n e t , $ 35 ,906 ; in t .
1st & r e f m tg e $3 0 ,0 0 0 ,0 0 0 g l 1914
5 g A -O
9 .8 6 5 ,0 0 0 A p r 1 1954 & taxos, $3 1 ,9 1 3 ; su rplu s, $ 3 ,9 9 3 . In 1912, gro ss, $ 1 3 8 ,4 3 9 ; n e t, $33 ,6 1 3 ;
S ee t e x t sin k in g f u n d — c * / I n t . at F id e lity T r . C o .. P h ila ., T ru ste e . in t. & ta x o s, $31 ,217 ; su rp lu s, $ 2 ,3 9 6 .
G e o rg ia P ow C o fs t M ( $ 1 0 , - / 1910
A -O
8 ,8 6 5 ,0 0 0 O ct 1 1 9 4 0
R O A D .— O perates 18 m iles o f track fro m A tla n ta t o M a r ie tta , 15.2 m iles,
0 0 0 ,0 0 0 )____________________ (C e n tr a l T r u s t C o . , T ru sto o .
w hich
aro o w n e d an d m o s tly on p riv a te rig h t o f w a y .
H as a rran gem en ts
3 7 0 ,0 0 0
g o ld ($ 5 0 0 )--C * r C o lu m b ia -K n ic k e r . T r . C o . , N . Y . , T r u s te
e.
w ith G a . R y . & E L C o . fo r term inals an d tra ck a go rig h ts in to th o c it y o f
B lu o R id g e E lec 1st M $1,-1
1910 5 J -J
1,1 3 5 ,0 0 0 S eo te x t
A tla n ta . C o m m e n c e d o p e ra tio n J u ly 17 1905.— V . 79, p . 680 .
3 7 0 .0 0 0 g ($ 5 0 0 )________ c * /C o lu m b ia -K n lc k e r b o c k e r T r . C o . , T r u s te e .
N o r t h G a E le c C o 1st M ___ ______
___________
see text
____________
S av an n ah R lv P o w C o 1st M _
1911 5 A -O
2 0 0 ,0 0 0 O ct 1 1921
ATLANTIC CITY, N. J.
R e fu n d in g m tg e $ 5 5 0 ,0 0 0 ..
1911 5 A -O
3 5 0 ,0 0 0 O c t 1 1941
A T L A N T IC C IT Y & S H O R E C O .
A tla n W a t P & El P 1st M l
1903 5 J-J
1 ,3 6 7 ,0 0 0 Jan 1 1943
O R G A N I Z A T I O N .— In c o r p o r a te d in 1909 In D ola w a ro . O w ns 2 ,9 9 5 o f
$ 1 ,5 0 0 ,0 0 0 g old ( $ 1 ,0 0 0 ) .. J C o lu m b ia -K n ick e r. T r . C o . , N . Y . , T r u s to o .
tho 3,0 0 0 shares o f th o A tla n tic & S u b u rban R y . C o . s to c k a n d a m a jo r it y
Stock.— A ft e r th e 2d p r e f. an d c o m m o n s to ck s h a v e b o th re ce iv e d 4 %
o f tho s to ck s o f th o C e n tra l P assenger R y . C o . ($40,000 b o n d s) an d A tla n tic
p er an n u m fo r 3 su ccessive yea rs, th (2 d p re f. s to c k b ecom es c o m . s t o c k .
B o n d s .— O f th e $ 3 0 ,0 0 0 ,0 0 0 1st & r e f. m tg e . b o n d s, $ 3 ,0 5 2 ,0 0 0 are re ­ C it y & Sh oro RR. C o . A ls o ow n s all o f tho $59 1,10 0 o u ts ta n d in g 1st m t g e .
s erv ed t o rotiro prior Hons, an d b a lan ce Is fo r fu tu re a d d itio n s , Xco., u nd or b o n d s o f A tla n tic & S u b u rb a n R y .
p r o t e c tiv e restriction s. SubJ. t o call a t \02\A an d in t. on A p r . 1 1919 t o
STOCK AN D BON DS—
D a te.
In terest.
Outstanding. M a tu rity.
1923, an d th ereafter a t 105 an d in t. a fte r 56 d a y s ’ n o tice . B o n d s aro c a ll­ S to c k , $ 1 ,0 0 0 ,0 0 0 .............................................................
$ 9 3 6,90 0 .......................
a b le fo r sin k . fd . a t sam e rates and d a te s. C o u p o n b o n d s $ 1 ,0 0 0 o r £205 C o ll tru st, $ 5 9 1 ,1 0 0 ............... t f l 9 1 0
4%
591 .100
See te x t
15s. 3 d . and $500 o r £102 17s. 7d . O f the G e o rg ia Pow 'or b o n d s, $ 1 ,­
T h o colla tera l trust 4s aro se cu re d b y $59 1 ,1 0 0 A t l. & S u b . 1st m tg o .
6 8 5 ,0 0 0
reserved t o retire B lu e R id g e E le ctric first 5s an d S a v a n n a h b o n d s an d 2,995 o u t o f 3 ,0 0 0 shares o f s to c k o f th a t c o m p a n y . T h e y fa ll
R iv e r P o w e r C o . b o n d s. T h e B lu o R id g e E le c . 1st M . b o n d s m a tu re on d u o F e b . 1 1928 o r F e b . 1 1940.
J u ly 1 1940, b u t th e G e o rg ia I t y . & P o w e r C o . assum os an agreem en t m a d o
O F F I C E R S .— P r e s ., H a rry E . K o h n ; S e c ., L . R . Isonthal; T r e a s ..
b y G e o rg ia P ow er C o . t o purch ase thorn o n or b e fo re O c t . 1 1916 a t p ar an d
I . L . S to n o .
I n t., an d in m ea n tim e t o p a y in t. o n th o b o n d s. Seo V . 94, p . 1383.
(1) A t l a n t i c C i t y & S h o r e R R . — A n e le ctric r o a d .
$ 4 5 0,00 0 o f th o $ 1 ,1 3 5 ,0 0 0 o u tsta n d in g b o n d s aro roserved t o rotiro a lik e
O R G A N I Z A T I O N .— In c o r p o r a te d in N o w Jersey O c t . 21 1905 w ith a
a m o u n t o f th e N o rth G eorg ia E le c . C o . m tg o s. C o lu m b ia -K n lc k o r b o c k o r
T r . C o . is tru stee o f b o th S a v . R l v . P o w . C o . Issues. T h o A t la n t a W a te r & perpetu al ch a rte r. Leases A tla n tic C it y & O cea n C it y R I t .— seo term s
E le c . P o w . b on d s aro s u b j. t o call a t 105. S inking fu n d Ja n . 1 1908 to be lo w — an d o w n s $ 2 1 8,50 0 o f th o c o m m o n s to c k o f th o A tla n tic C it y &
J a n . 1 1917, In ch , $ 5 ,0 0 0 p er a n n u m ; th ereafter until m a tu r ity , $10,000 O cean C it y C om pa ny, w h ich h o ld s all th o s to c k an d b o n d s o f tho A tla n tic
C ity & O cea n C it y R R .
V . 8 5 . p . 158. C e n t. P a ss. R y . Is op o ra te d und or
p er a n n u m . S ee V . 7 9 , p . 153.
D ividends.— A n Initial d iv . o f $4 70 per share w as p a id J a n . 20 1913 on th e tra ffic agreem en t.
Contract with W est Jersey A Sea Shore R R .— A tr a ffic agreem en t has
1st p r e f. s t o c k , c o v e rin g th e 9 2-5 m o n th s sin co it w as issued (M a rc h 1 9 1 2 ).
boon en tered in to w ith th o W e s t Jersey & Sea S h oro R R . b y w h ich the
N o n e sin ce u p t o M a y 15 1914.
A tla n tic A v e . lino o f tho latter r o a d , ru n n in g fro m A tla n tic C it y to L o n g R E P O R T .— O f th o co m b in e d pro p e rtie s fo r calon dar years:
Calendar
Gross
N et (.aft.
Other
I n t. &
F irst P ref. Balance, p o r t, 8 A m iles, is o p e ra te d b y this c o m p a n y . T h e W e st Jersey & Sea
Year—
E arn s.
T a x es ).
In c.
R entals.
D ivid en d . Su rplus. Shoro R R . has an o p tio n t o p u rch ase fro m M a y 1 1913 t o M a y 1 1918 a
m a jo rity o f th o A t la n tic C it y & S h ore R R . s t o c k .
V . 8 5 , p . 158.
_696,456
1913..............5 ,3 5 0 ,9 9 5 2 ,2 2 7 ,2 2 7 103,627 1,640,398
191 2..............5,218,913 2 ,4 4 2 ,0 9 3 77,2 7 8 1 ,674,681 ( 4 .7 % )9 4 ,0 0 0 750,689
STOCK A N D BON DS—
D a te.
In terest.
O utstanding. M a tu rity.
P R O P E R T Y .— T o ta l m ileago (on single-track basis) D e c . 31 1913, S to c k , $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )------------------------$ 1 ,0 0 0 ,0 0 0 .......................
2 1 1 .9 9 3 m iles . S tan d ard g a u g e , 7 0 , 80 an d 9 0 -lb . rails. O w ns w ater­ 1st m tg o & c o ll trust d e e d ! 1905
5 g J -D
9 5 0 ,0 0 0 D e c 1 1945
p ow er sites in N orth ea stern G e o rg ia c a p a b le o f an u ltim a to d e v e lo p m e n t o f
$1,0 0 0 ,0 0 0 ($ 1 ,0 0 0 ) g . c * t f / I u t . a t G ira rd T r u s t C o ., P h ila ., T ru s tee.
o v e r 3 4 6 ,0 0 0 h . p . O n O c t . 27 1913 th e c o m p a n y b egan usin g e le ctricity
Bonds.— N o sin kin g fu n d , b u t can bo called a t a n y tim e a t 110 and Int.
fro m its h y d r o -e le ctr ic p la n t.
A t T a llu la h F alls d e v e lo p s 8 0 ,0 0 0 h . p . ,
R O A D .— O perates 4 7 .4 5 m iles o f track In an d a ro u n d A tla n tic C it y , In­
w ith tran sm ission lines t o A t la n t a , 90 m iles d ista n t. T h o in teru rb an lino clu d in g a ro a d th rou gh P lea sa n tvlllo , L in w o o d an d S om ors P o in t, to O cean
fro m A tla n ta t o S ton o M ou n tain w as co m p le te d in N o v . 1913.
C it y , tho la tte r tw o p o in ts be in g co n n e c te d b y 2 m iles o f trcstlo an d brid ge
O F F I C E R S .— C h . o f B d ., I I . M . A tk in so n ; P r e s ., P reston S. A r k w r ig h t- o w n e d b y th o A tla n tic C it y & O cea n C it y R R .
V .- P . & G e n . M g r ., G . W . B rin e; V .- P . & S e c ., W . H . G lenn ; A sst. S e c.!
E A R N I N G S .— F o r ca lo n d a r ye a r 1913, gro ss, $ 6 5 4 ,6 0 3 ; n o t (after
P aul D . R e id ; T r e a s ., I . S. M itc h e ll J r .; A u d ., I I . F ly n n , all o f A tla n ta
— V . 9 3 , p . 730 , 1191, 1725: V . 94, p . 123, 982 , 1119. 1383. 1763; V . 9 5 , re n ta ls), $ 98 ,136 ; in t ., $ 4 9 ,3 2 1 ; s u r ., $ 4 8 ,8 1 5 .
p . 1472, r541; V . 96. p . 202 . 285 . 419 , 789, 941, 1021, 1629; V . 9 7 , p . 1504
O F F I C E R S .— P r e s ., W m . A . Stern; V .- P ., C h arles E v a n s ; S e c ., J . M .
1822; V . 9 8 , p . 68 9 , 757 , 1459, 1536.
C a m p b e ll; T r e a s ., I. L . S ton o; G e n . S u p t., G o o . F . F a b o r .— V . 85 D.
158; V . 8 6 , p . 1099; V . 8 8 , p . 685; V . 9 0 , p . 1424.
(1 ) G e o r g i a R a ilw a y & E l e c t r ic C o .
L ea se.— O n Jan . 30 1912 th e sto ck h o ld e rs o f th o G e o rg ia R y . & E le c . C o .
(a) A t l a n t i c C i t y & O c e a n C i t y C o m p a n y .
a p p ro v e d th e 999 -year lease fro m Ja n . 1 1912 t o th e G eorgia R y . & P ow er
T h o A tla n tic C it y & O cea n C it y C om pany w as organ ized In D elaw are
C o . , w h ich prov id es th a t th e la tte r c o m p a n y g u aran tee all th e fix e d charges a n d ow n s th o en tire ($180,000) s to c k a n d all th e ($180,000) b o n d s o f th e
and d iv s . on p ref. s to c k an d d iv s . o f 8 % on c o m . s t o c k , th o h old er o f each A tla n tic C it y & O cea n C it y R R . , an d has p le d g e d thorn as se cu rity fo r th e
$ 1 0 0 c o m . h a v in g r e c e iv e d , as a d d itio n a l con sid era tion fo r th e lease, $ 3 12 A
co llateral trust b o n d s b e lo w . O f tho c o m m o n s to c k o f th o A tla n tic C it y &
In 1st p ref. and $125 in 2d p re f. s to c k o f G eorgia R y & P o w e r C o .
V. 94, O cean C it y C om pa ny, $ 2 1 8,50 0 is o w n e d b y th o A t l. C it y & S horo R R . T h e
0 . 982 , 1119. T h o shares o f th o A tla n ta G a s L ig h t C o . a n d o f th o A tla n ta latter leases th o A t l. C it y & O cea n C it y R R . fo r 999 years, th o rental b oN o rth e r n R y . aro n o t Inclu ded in th o prem ises d em ised u nd er th o loaso, in g $19 ,500 per a n n u m , an d an a d d itio n a l c o n tin g e n t sum oqual to 33 1 -3 %
b u t th e lessor assigned an d transferred to th o Iossoo, fo r a n d d u rin g th o term o f the not surplus, b u t n o t to ex ce e d $25 ,0 0 0 por a n n u m .
o f th o lease, th o in com e arisin g fro m a n y an d all o f th o said shares.
STOCK A N D BO N DS—
D a te.
Interest.
O utstanding. M a tu rity.
O R G A N I Z A T I O N .— I n c o r p . In G e o rg ia o n Jan . 28 1902, and o n A p ril 1 C o m m o n . $ 3 5 0 ,0 0 0 ............................................- ...........
S220.000 .......................
1902 to o k o v e r th o A tla n ta R y . & P ow er C o ., th o A tla n ta R a p . T ra n C o ., P r e f 5 % n o n -c u m $ 2 5 0 ,0 0 0 ................................ - - - ,175.000
tho G eorg ia E le ctric L ig h t C o . and th e A tla n ta S team C o . Franchise
te ra l trust g o ld $500,-1 1907
5 M -S
„ ^ „ 350<000 M "
1 1947
fo r the greater p a rt p erp e tu a l; others 50 years fro m A u gu st 1899. C o m ­ C olla
000 red eem able 110 & in t t f I G ira rd T r u s t C o . . P h ila d e lp h ia , T ru sto e.
prises th e street r a ilw a y , e le ctric-lig h t, ga s, p o w e r an d steam -h eatin g
Slock.— T h o p ro f, s to c k Is red eem a b le a t par.
Interests o f A tla n ta an d F u lto n C o u n t y .
Uses p o w e r su p p lied b y the
R O A D .— T h o A tla n tic C it y & O cea n C it y R R . ow n s 2.61 m iles o f road
A tla n ta W a te r & E le c tr ic P o w e r C o . fro m th e la tte r ’s p la n t a t B u ll fro m Som ers P o in t, across G re a t E g g H a r b o r B a y . o n b rid g e an d trestles,
S lu ice on th e C h a tta h o o c h e e R iv e r , 15 m iles fro m A tla n ta — seo V . 79 p
t o O coan C it y .
R a lls, 85 lb s. V . 8 5 , p . 158; V . 8 7 , p . 165.
153, 2149
B y term s o f th o o rd in a n ce p e rm ittin g c o n s o lid a tio n ,t h o c o m ­
O F F I C E R S .— P re s ., P en rose Floishor; S e c ., J . M . C a m p b e ll; T r e a s .,
p a n y p aid th o c it y o f A tla n ta $ 5 0 ,0 0 0 in ca sh , and agrees to p a y a tax on Irv in L . S ton e.
gross receip ts o f 1 % fo r first 3 y e a rs, 2 % fo r th o n oxt 20 years and 3 %
(2) A t l a n t i c & S u b u r b a n R y .
T
^
, , nno
th erea fter.
V . 74, p . 397 , 727. H as c o n tr a c t w ith th o c ity fo r street ligh t­
O R G A N I Z A T I O N .— In co rp o ra te d In N o w Jersey D o c . 4 1908 as a re­
in g fo r 5 yoars from A p ril 1 1913. In O c t . 1902 b o th p ro f, an d c o m . s to c k
w ere listed on B oston S to c k E x c h .
V . 75, p . 84 9 . T h e y aro also listed on orga n iza tion o f th e A tla n tic C it y & S u b u rb a n T r a c tio n C o ., sold u nd or fo re ­
closu re o f 1st m tg e .
V . 8 7 , p . 1237, 1532.
th e L ou isv ille E x ch a n ge.
STOCK AN D BO N DS—
D a te.
In terest.
Outstanding. M a tu rity.
In Ju n e 1903 acqu ired th e entire c a p ita l s to c k ($600,000 6 % p re f. and
S 1£?-95Q
...........
$ 1 ,0 1 4 ,6 2 5 c o m .) o f th o A tla n ta G as L ig h t C o . , co m p risin g th o gas business S to c k . $75 0,00 0 ($ 5 0 ).....................................................
m o rtg a g o ,
$650,0001 1909
4 g F -A
591 ,100 A u g 1 1929
o f A tla n ta an d v ic in ity , b y e x ch an g e o f s t o c k , $ fo r $. V . 76, p . 1406. First
($1,000) ......................- . c * t f ( I n t . a t C a m b rid g e T r . C ° A C h ester P a ., T r .
T h e gas c o m p a n y , h ow ov e r, m aintain s a sep arate o rgan ization .
P
rior
lion
M
,
$10
0
,0
0
0
,
g
u
a
r
i
____
5
%
100,000
F
o
b
1
1925
S h a reh old ers, c o m . an d p r e f., o f r e c o rd J a n . 26 1914 w oro g lv o n th o right
p & i, b y A C & S C o
tf J
r __
to 's u b s c r ib e t o $51 4,60 0 c o m . s to c k (w h ich w as a t th a t tim e in th o treasury)
Bonds.— B o n d s h a v e n o sin kin g fu n d .
V . 8 7 , p . 1237.
___
a t.$ 1 1 8 p er share. V . 9 8 , p . 386.
E A R N I N G S .— F o r calen dar year 1913, gro ss, $ 90 ,557 ; n o t, $30 ,013 ; o th er
STOCK A N D BON DS—
D a te.
In terest. O utstanding.
M atu rity
Incom e, $ 2 ,813; taxes & in t ., $34 ,1 5 6 ; d e fic it , $ 1 ,3 3 1 .
C o m m o n ($ 1 0 0 )........................... ...........
Q -F
$ 8 ,5 1 4 ,6 0 0
Seo text
R O A D .— O perates 16.13 m iles o f track fro m A tla n tic C it y to P loasan tP referred 5 % n o n - c u m u l a t i v e l ____
5 Q-J
2 ,4 0 0 .0 0 0
Seo toxt
v ille, S om ors P o in t an d A b s e co n . S tan d ard ga u g e, 8 0 -lb . T ra il.— -V . 8 7 ,
$ 2 ,4 0 0 ,0 0 0 (par $ 1 0 0 )______|
p . 872, 1237, 1299, 1532; V . 8 8 , p . 881; V . 9 0 , p. 1424.
R e f & Im p m tg o $20,000,0001 1909
5 g J-J
3 .1 9 8 ,0 0 0 Jan 1 1949
O F F I C E R S .— P re s., H a rry E . K o h n ; V .- P ., R o b t . W e th e rlll; S e c .,
g o ld ($ 1 ,0 0 0 )____________ c * /I n t . at A m e r . T r u s t C o ., B o s to n , T ru ste e
J . M . C a m p b e ll; T r o a s ., Irv in L . S to n o .
F irst con s m tg o $11,000,0001 1902
5 g J-J
5 ,8 8 5 ,0 0 0 Jan 1 1932
g o ld sink fu n d ( $ l ,0 0 0 ) - - C * /I n t . at O ld C o lo n y T r u s t C o ., B o sto n , T ru s .
A tla n ta Street R a ilroa d first ( 1890
6 g J-J
2 25 ,000 J u ly 1 1 9 3 6
AUGUSTA, GA.
m o rtg a g e g old (p a r $1,000)1 In t. p a y a b le In N . Y . a t F o u rth N a t . B a n k .
A U Q U S T A -A I K E N R Y . & E L E C . C O R P O R A T I O N .
I
C en tral T r u s t C o ., N . Y . , T ru ste o .
A tl C on s St R y 1st c o n s M $ 2 ,-j 1899
5 g J-J
2 ,0 0 6 ,0 0 0 Jan l 1 9 3 9
O R G A N I Z A T I O N .— C h a rto ro d in M a r c h 1906 u n d or laws o f S o u th
600 .0 0 0 g ($ l,0 0 0 e a c h ) _ . c * { l n t . p a y a b le in N . Y . a t N . Y . T ru s t C o . and C a rolin a as A u g u sta & C o lu m b ia R y . C o .; n a m o ch a n g e d t o a b o v e in A p ril
1 at M e r c . T r . & D e p . C o . o f B a lt ., T ru stee.
1911 an d is a c o n s o lid a tio n o f th o fo llo w in g c o m p a n ie s:
G eorg ia E le c L ig h t C o 1st M J 1900
5 g J -J
1,360,000 J u ly 1 1930 A u g u sta -A ik o n R y . & E lc c . C o .
| A u g u s ta R y . & E le c . C o .
$ 2 ,0 0 0 ,0 0 0 , g o ld , s u b je c t t o lln t e r o s t a t O ld C o lo n y T ru s t C o ., B o sto n
A u gu sta & A ik en R y . C o .
( N o rth A u gu sta E le c . & Im p t . C o .
call at 105________________c * l
T ru ste o .
O w ns an d op erates en tiro railw ay syste m s o f A u g u s ta , G a .. a n d N o rth
A tla n ta G a s-L ig h t C o , l s t M f 1897
5 g J -D
1,150,000 Jun e 1 1 9 4 7
A u g u s ta , S. C ., an d a lino fro m A u g u sta to A ik e n , S. C . A is o furnish es
$ 1 ,1 5 0 ,0 0 0 , g ($ 1 ,0 0 0 )- . c * (in te re s t a t N e w Y o r k T ru st C o ., T ru ste e , or entire e le ctric ligh t an d p o w o r sorv ico in A u g u sta an d its su bu rbs an d ow ns
(B a n k o f S c o tla n d , L o n d o n , E n g .
valu able real estate In cen tral p a r t o f A u g u s ta .
R a ilw a y fra n ch ise in
B on ds.— O f the $ 11 ,000 ,00 0 G e o rg ia R a ilw a y & E le c tr ic C o m p a n y b on d s A u gu sta expires 1939; e le ctric-lig h tin g fra n ch ise runs until 1939 o r lo n g er.
(c lo s e d m tg o .) o f 1902, $ 3 ,8 5 0 ,0 0 0 aro re se rv e d t o ro tiro u n d erlyin g liens
Interu rban d iv isio n is o n p riv a te rig h t o f w a y . V . 92, p . 1177. A ls o o w n s
A r o s u b je c t t o call on a n y Interest d a te a t 110 and a ccru ed interest. A all securities o f N o rth A u gu sta H otel C o . (ow n or or H a m p to n T e r r a c e
sinking fu n d b eca m e o p e ra tiv e in 1907 w h ich retires $10 ,000 o f b o n d s H o te l), an d 9 9 % o f secu rities o f N o rth A u gu sta L a n d C o . L ik ew ise o w n s
In each y ear fro m 1907 to 1911, Inclu sive; $ 2 5 ,0 0 0 per an n u m fro m 1912 to all the c o m m o n s to c k o f the G a .-C a r o . In v e stm e n t C o . S ee rom arks b e lo w .




May , 1914.]

II

ELECTRIC RAILWAYS

N ew H ydro-E lectric D evelopm en t.— O n J u ly 20 1912 shareh olders a p p r o v e d
th e p rop osed agreem en ts, d a te d Ju ly 1 1912 p r o v id in g fo r th e c o n s t r u c ­
tio n a n d fin a n c in g o f th e G e o rg la -C a ro lin a P o w e r C o . ’s h y d r o -e le c t r ic p la n t
a n d sy stem (w h ich w as p u t In o p e r a tio n F e b . 6 1914— soo V . 9 8 , p . 692;
Initial in stallation 14,000 h . p ., u ltim a te c a p a c it y a b o u t 3 0 ,0 0 0 h . p . ) , o n th e
S avannah R iv e r , an d th e op era tio n o f sam e in p e r p e tu ity b y A u g u s ta -A ik e n
R y . & E le c . C o r p . T h e y also v o t e d t o gu a ra n te e p r in ., h it. & s k . fu n d o n
G a -C a rolin a P ow er C o . 1st M . b o n d s a n d d i v ’s fro m J u ly 1 1915 o n $ 7 5 0 ,­
000 p rof, s to c k o f G a .-C a ro lln a In v e s t. C o . A ll th e p r e f. an d c o m m o n
s to ck s o f th e G a .-C a r o . P o w . C o . (ln c o r p . In S o . C a r o .) are ow ncxi b y th e
G a -C a r o . In v es tm en t C o . (a h o ld in g c o . ln c o rp . in M a in e ), all o f th e lat­
ter c o m p a n y ’s c o m . s to c k ($500,000 par) in turn be in g o w n e d b y th e A u g .
A ik en l t y . & E le c . C o r p . See a b stra ct o f plan in V . 9 5 , p . 234. O n J u ly
23 1912 A u g .-A ik e n R y . & E le c . C o r p . shareh olders w ere o ffe r e d th e rig h t
t o su b scrib e fo r a b o v e -m e n tio n e d $ 2 ,7 5 0 ,0 0 0 1st M . 5s o f P o w e r C o . and
;750 000 p rof, s to c k o f G a .-C a r o . In v e s t. C o . a t $880 an d in t. o n b o n d s
or each b lo c k , con sistin g o f $ 1 ,0 0 0 b o n d s an d $300 p re f. s t o c k . V . 95,
p . 234. In J u ly 1913 $ 1 ,5 9 0 ,0 0 0 G e o rg ia -C a ro lin a P o w . 1st M . 5s ( $ 2 ,­
7 50 .000 ou tsta n d in g ) w ere o ffe re d In L o n d o n w ith th e rig h t t o s u b s c r ib e in
resp ect o f each $500 b o n d a t th o p rice o f £15 fo r $100 7 % p r e f. s t o c k o f
G a .-C a r . I n v e s t ., ca r r y in g c u m . d lv s . o f 5 % q u a r. See V . 9 7 . p . 119, 179;
V . 9 8 . p . 154.
M a tu r ity •
Outstanding.
STOCK A N D BO N DS—
D a te.
In terest.
$ 2 ,2 5 0 ,0 0 0
C o m m o n $ 2 ,2 5 0 ,0 0 0 ( $ 1 0 0 ) .......................................
P referred 6 % c u m sin ce Jan 1
____
1.500.000 M a r .-1 4 .1 H
1912 ( $ 1 0 0 ) ............... ............................
Q ;M
3 .1
6 1 .0 0 0 D e c 1 1935
-----F irst m tg $ 7 ,5 0 0 ,0 0 0 gold\ 1910 5 g J -D
( $ 1 , 0 0 0 ) _______ _______ o * t f [C e n tra l T ru st C o ., N e w Y o r k , T r u s te e .
A u gu sta R y & E le c 1st M g j 1900 5 g J -D
9 4 5 ,0 0 0 J u n e 1 1940
$1 ,0 0 0 ,0 0 0 ($ 1 ,0 0 0 ) - c * n t ? f l n t . at M e r . T r . & D e p . C o ., B a lt ., T r u s te e .
G a -C a rolin a In v e s t C o , p r o f] - - - Q uar
7 50,000
s to c k ($ 7 50,000) soo tex t [ R o d . as a w h o le a t 105 an d a ccru e d d iv id e n d .
($ 1 0 0 ) c u m u la tiv e

?

° 000ag°(S5°00
,7 5Y0o,0r 0k0, TJruuly
000 g ($500 iannda $\.^obT-0
* i ’uuu'c H- -f i[ C 1912
eiltra l 5T rJu-Js t Co-> N e2w
s te 1
e .1 9 5 2
Stork — G a -C a r o . In v es tm e n t C o . p r e f. s to c k is en titled t o 5 % c u m .
d lv s (guar b y A u g .-A ik e n R y . & E le c . C o .) fro m J u ly 1 1915, a n d a d d i­
tion al n o n -c u m . d iv s . o f 2 % p e r a n n . u n d er certa in co n d itio n s . S to c k is
c o n v e r tib le Into p f. s tk . o f A u g .-A ik e n R y . & E le c. C o r p ., share fo r share.
B on d s.— O f th e $7 ,5 0 0 ,0 0 0 1st m tg o . b o n d s, $ 16 4,00 0 are in tr e a s u r y ,
$94 5 000 aro reserve t o retire A u g . R y . & E le c , b o n d s a n d b a la n c e is
fo r ad d ition s, & c. SubJ. t o call as a w h o le (o r in p a rt fo r sin kin g fu n d ) at
105 an d interest o n a n y Interest d a y o n 30 d a y s ’ n o tice . In te ro st is p a y a b le
a t R e d m o n d & C o . , N o w Y o r k . Sinking fu n d b e gin n in g in 1916 p ro v id e s
fo r p a y m en t o f $2 5 ,0 0 0 per an n . 1st 5 y e a rs , in crea sin g t o $ 4 0 ,0 0 0 , $5 0 ,0 0 0
an d $6 5 ,0 0 0 fo r each su ccessive p e rio d o f 5 yea rs u n til m a tu r ity o f b o n d s.
V . 9 2 , p . 1177. A u g u sta R y . & E le c , b o n d s ca n b e c a lle d in 10, 20 o r 30
years from d a te at 105 an d Int. o n 6 m o n th s ’ n o tice ; sin k in g fu n d is H o f 1 %
begin n in g J u n e 1 1905 fo r 15 y e a rs, 1 % fo r n e x t 10 years an d 2 % fo r rem ain­
ing 10 y ea rs. $ 5 5 ,0 0 0 w as h eld in sin k in g fu n d D o c . 31 1913.
T h e G a .-C a r o . P o w . b o n d s are subJ. t o call as a w h o le , o r In p a rt fo r
sk . fd . at 105 a n d Int. S k . f d . b egin n in g w ith 1918 w ill b o su ffic ie n t t o
retire all th e b o n d s a t m a tu r ity . T h e y are g u a r ., p . , i. & s . f . . b y A u g .A ik en R y . & E le c . C o r p . V . 9 5 , p . 179.
D ivid en d s.— In itia l d iv id e n d on preferred— 1 H % — p a id D e c . 30 1911.
S am o ra te q u a rte r ly sin ce t o a n d in c l. M a r c h 1914.
R E P O R T .— F o r ca len d a r y e a r (V . 9 8 , p . 1 3 1 0 ):
P f. D ie . Balance,
Calendar
Gross
N e t (a fter
In t. on
Other
(6 % ).
S u rp lu s.
Y ear—
E a rn in g s.
T a xes). Sink. Fd s. In terest.
$ 9 0 ,0 0 0 $ 26 ,819
1 9 1 3 ................. $72 5 ,0 7 3 $32 1 ,9 8 9 $5 5 ,0 0 0 $15 0 ,1 7 0
9 0 ,0 0 0
9,942
1912 ................. 66 2 ,5 9 1
29 3 ,1 5 3
55,000
138,211
R O A D .— O w n s an d operates 53 .2 m iles o f tr a c k , o f w h ich 2 8 .9 2 m iles
are c it y lines an d 2 4 .2 8 m iles ln tcru rba n betw e e n A u g u sta an d A ik e n , 60
t o 100 -lb. T rails. S tan d ard g a u g e . O w ns L a k e V iew P a rk o n L a k e
O lm stead .
O F F I C E R S .— P r e s ., F . Q . B ro w n ; V . - P . , J . I I . P a rd e e an d E . C . D e a l;
S e c . a n d T r e a s ., D . I I . T h o m a s; M g r s ., J . G . W h it e M g t . C o r p .— V . 93,
p . 1724; V . 9 4 , p . 205; V . 9 5 , p . 175, 234, 360, 1121, 1683; V . 9 6 , p . 1224;
V . 9 7 . p . 116, 1114, V . 9 8 , p . 154, 692 , 1243, 1310.

AUSTIN, TEX.
A U S T I N S T R E E T R Y . — A tro lle y r o a d .
O R G A N I Z A T I O N .— In c o r p o r a te d In T o x a s on Jan . 3 1911 as s u ccessor
t o th e A u stin E le c tr ic R y . F ranchise expires in 1942.
STOCK A N D BO N DS—
D a te.
In terest.
O utstanding.
M a tu rity .
C o m m o n $75 0 ,0 0 0 ($ 1 0 0 )............... - ..........................
$56 0,00 0
See te x t.
P r e f $50 0 ,0 0 0 ($100) 6 % n - c .........................- - - - - 250 ,000
S eotex t.
F irst & r o f m tg $1,500,000 1 1911 5 g J -J
7 24 ,000 Jan 1 1936
old ( $ 1 , 0 0 0 ) _________c * t f / I n t . at E q u ita b le T r u s t C o ., N . Y . , trustee.
on d s.— $ 7 7 6 ,0 0 0 1st & re f. b o n d s aro reserved fo r a d d itio n s, & c . T h e y
aro s u b je c t t o ca ll on a n y in t. d a te at 102 H * A n n u al sin kin g fu n d o f 2 %
o f b on d s o u t bogins in 1915. V . 9 2 , p . 185; V . 9 3 , p . 1461.
D ividends.— 6 % is bein g p a id on p r o f, an d 4 % on c o m m o n s t o c k .
E A R N I N G S .— F o r c a l. y e a r 1913, gross, $ 25 8,40 5; n e t , $ 1 1 0 ,9 3 7 ; in t.
a n d ta x es, $ 4 4 ,8 1 9 ; su rp lu s, $ 6 6 ,1 1 8 .
R O A D .— O p cra tos 2 1 .4 m iles o f t r a c k . 55 and 7 2 -lb . rails; 34 ca rs.
O F F I C E R S .— P re s ., W . J . Jones; V . P ., F . I I . W atriss: S e c ., A . L . K atlo ch ; A s s t. S e c ., G . P . G a n n e tt, A u g u s ta , M e .; T r e a s ., E . P . W llm o t; A s s t.
T r e a s ., G . E . M a c o m b o , A u g u s ta , M e .— V . 9 2 , p . 185; V . 9 3 , p . 526,
1461. 1531.
__________ _______________

g

BAKERSFIELD, CAL.
SA N J O A Q U IN L IO H T & P O W E R C O R P .
O R G A N I Z A T I O N .— I n co rp o ra te d In C a lifo rn ia in J u ly 1910 as a c o n s o li
d a tio n o f th o San Joa q u in L ig h t & P ow er C o ., th e P o w e r T ra n sit & L igh t
C o . (B a k ersfield ) an d th o M e r ce d F alls G as & E le c tr ic C o . h ra n ch isesin
citie s are p erp etu al; ou ts id e o f citie s, w ith tw o e x ce p tio n s , e x te n d b e y o n d
1950. A b o u t o n e -h a lf th o to ta l len gth o f transm ission lines is o n p r iv ­
a te rig h t o f w a y . O p eration s exten d in to th e seven prin cip a l co u n tie s o f th e
San Joa q u in V a lle y , a territory 195 m iles lo n g and 78 m ilos w ide.
In M a r c h 1912 ban kers In San F ra n cisco o ffe r e d a b lo c k o f p ro f, s to c k ac
8 5 , w ith a b on u s o f 2 5 % in c o m m o n . V . 9 4 , p . 921 , 1123.
In J u ly 1913 shareh olders so ld an Issuo o f 2 -y r . 6 % c o ll, tru st n o te s t o
N . W . Ifa ls o y & C o .
V. 9 7 . p . 241.
In F e b . 1914 a p p lied to th o C a lifo rn ia R R . C o m m , t o issuo S 3 ,1 4 5 ,0 0 0
b o n d s t o refu n d u n d erlyin g b o n d s. T h o c o m p a n y also asked a u th o r ity to
refu n d $ 2 0 0 ,0 0 0 sh ort-term n o te s . V . 9 8 , p . 693.
STO CK A N D BON DS—
D a le.
In terest.
O utstanding.
M a tu rity .
C o m m o n $ 1 5 ,0 0 0 ,0 0 0 .................................... - ...........
$ 1 1 ,0 0 0 ,0 0 0 ......................
P r e f. $ 1 0 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) 6 % cu m . —
Q -J 15
6 ,5 0 0 ,0 0 0
S ee te x t.
1 st & r e f m tg e $25 ,0 0 0 ,0 0 0 g l
1910 5-6 F -A
4 ,2 7 0 ,0 0 0 A u g 1 1950
($1,000) sin k in g fu n d .c & r ^ J T r u s t C o . o f A m e r ., N . Y . , tru s .; I n t . in N .Y I
C o ll tru st n o t e s ________________ 1913
6 Q uar.
9 09 ,000 A u g 1 1915
San J oa q u in L & P Co 1st M l
1905 5 J -D
2 ,7 2 0 ,0 0 0 Ju n e 1 1945
$3 ,0 0 0 ,0 0 0 s f ($ 1,0 0 0 ) - _ c * / R e d e e m a b le a t 110 an d interrat.
San Joa q u in P ow er C o _______ ______
5%
104,000
1942
P ow er T ra n s & L t M $2,5 0 0 ,-1
1903 5 g J -D
105,000 J u n e 1 1933
000 g old ($ 1 ,0 0 0 )................. [M e r c a n tile T ru st C o .. San F ra n cis c o , trustee
B a k ersfield & K orn E le c R y l
1903 5 g J -J
9 4 ,000 J u ly 1 1931
$ 2 5 0,00 0 g o ld ($ 1 ,0 0 0 )___ c /U n io n T r u s t C o ., San F ra n cisco , tru stee.
B a k ersfield G as & E le c L t m t g ------- 6 F -A 15
16,000 P e r io d ica lly
Stock.— C a p ita l s to c k c a n n o t b e Increased w ith o u t assent o f th reo-fou rth s
o f s to c k o f b o th classes.
B onds.— O f th o 1st & ref. m tg e . o f 1910, Series A ($ 1 ,5 0 0 ,0 0 0 , all ou t)
boar 6 % In t.; Series B , o f w h ich su fficie n t are reserved fo r u n d e rly in g liens,
bear Int. at 5 % ; rem ain der ca n b o Issued a t n o t exceedin g 6 % Interest
fo r ad d ition s, im p rov em en ts . A c . , at 8 5 % o f c o s t u n d er certa in re strictio n s.
Serlos “ A ” c a lla b lo a t 1 0 2 H , Series B ” a t 105. F i r s t * ro f. m tg o . co n ta in s
sin k . fd . p ro v is io n ca llin g fo r th o retirem en t o f $ 1 0 0 ,0 0 0 Series “ A ” ea ch
y ea r fro m 1915-24 in c h , thereafter ran gin g fro m 2 H % a n n u a lly o f b o n d s
o u t from A u g . 1925-30, I n c l., t o 4 H % a n n u a lly fro m A u g . 194 5-4 9, in cl.
V . 91, p . 1332. C o ll, trust n o te s aro re d . a t 101 & in t .; are s ecu red b y
$ 1 ,2 1 4 ,0 0 0 firs t & rof. b o n d s n o t in clu d e d in a m o u n t o u t a b o v e .
D ividends.— 6 % is bein g p aid on preferred s t o c k .
E A R N I N G S .— F o r calen dar years:
Calendar
Gross
E x p s .,M a in t .
N et
Interest
B alance,
Year—
E a rn ings.
and Taxes.
E arnings.
Sk. F d ., A c .
Su rplus.
1 9 1 3 .......... $ 1 ,7 5 0 ,4 7 1
$83 3 ,6 5 0
$91 6,82 1
$50 0 ,2 1 3
$ 4 1 6 ,6 0 8
1912 .......... 1,401,138
5 36 ,767
86 4 ,3 7 2
4 5 0 ,3 1 9
41 4 ,0 5 3




P R O P E R T Y . — O perates street r a ilw a y in B a k e rsfie ld . O perates p o w e r ­
houses w ith 5 7.170 n .p . c a p a c it y . O perates 2,383 m iles o f transm ission
& c .. lines.
D o ra gas business in B a k e rs fie ld , M e r ce d an d Selm a.
O F F I C E R S .— P re s., VV. G . K c r c k h o ff; V .- P ., A . C . B a lch ; S e c ., L . M .
F a rn h a m ; T re a s . & C o m p ., A . E . P e a t; G e n . M g r ., A . G . W ish o n .— V . 9 1 ,
p . 965 , 1332; V . 9 3 , p . 350, 412, 537: V . 9 4 . p . 921 . 1123, 1388; V . 9 5 .
p . 2 4 0 ,1 6 1 1 ; V . 9 6 , p . 139, 5 5 8 ,1 0 9 3 ,1 3 6 8 ; V . 9 7 , p . 2 4 1 ,7 3 2 ; V . 98, p . 693 .

BALTIMORE, MD.
Street railw ays o f Baltim ore pay a park tax o f 9 % o f gross earnings w ith in
City L im its, except on turnpikes and private rights o f w ay, and
a ' are required
'
'
to pave between tracks and two fe e t on each side.
U N I T E D R A I L W A Y S & E L E C T R I C C O . O F B A L T I M O R E .— T r o lle y
O R G A N I Z A T I O N .— In c o r p o r a te d a t A n n a p o lis M a r c h 4 1899. C o m ­
prises all th e passenger railw a y s in B a ltim o re C it y a n d B a ltim o re C o u n t y
a n d lines ex te n d in to A n n e A ru n d el C o u n t y a n d H o w a rd C o u n t y . T h ro u g h
th e p resen t an d p re v io u s c o n s o lid a tio n s , e m braces th e fo llo w in g :
B a ltim o re C a to n s v ille & E lllc o tts C e n tra l R a ilw a y C o .
M ills P assen ger R R .
G w y n n ’s F alls R a ilw a y o f B a ltim o re
B a ltim o re C it y P assen ger R y . C o .
C it y .
B a ltim o re C o n s o lid a te d R y . C o .
M a r y la n d T r a c tio n .
B a ltim o re & C u rtis B a y R y .
P im lico & P ik esville R R .
B a lt. G a rd e n sville & B elair E le c . R y . S h ore L in e E le c tr ic R y .
B a ltim o re & N o rth e rn E le c . R y . C o . W a lb r o o k G w y n n -O a k & P o w h a ta n .
A ls o ow n s all th e s t o c k , a n d h o ld s a lease o f th e B a ltim o re S p a rro w s
P o in t & C h esa p ea k e R y . C o .
A llied C om pa n y.— In A u g . 1906 th o M a r y la n d E l e c .R y ., w h ich h ad agreed
t o p r o v id e fu n d s fo r n eed ed im p ro v e m e n ts a n d a cq u isitio n s o f th e U n ite d
R y . & E le c . C o ., w as c o n s o lid a te d w ith th e B a lt. & A n n a p o lis S h o rt L in e ,
th u s fo rm in g th e M a r y la n d E le c . R y s . S ee sta te m e n t o f th a t c o . b e lo w .
Pow er Contract.— H a v in g c a n ce le d th e c o n t r a c t fo r s u p p ly o f p o w e r m a d e
w ith M c C a ll F e rry P o w e r C o . in Ju n e 1907 ( V . 8 5 . p . 163 ), in F e b . 1911
e n tered in to a 15-year c o n tr a c t w ith P e n n s y lv a n ia W a te r & P o w e r C o . fo r
s u p p ly in g p o w e r in c o n ju n c tio n w ith U n ite d R a ilw a y s C o . fo r o p e ra tio n o f
ca rs . V . 92, p . 467.
Favorable Tax D e c is io n .— O n Jun e 2 9 1909 th e C o u rt o f A p p e a ls o f M a r y ­
lan d h e ld th a t th e p a rk ta x o f 9 % o n gro ss earnings o f lines w ith in c it y
lim its w as in te n d e d t o b e in lieu o f all o th e r taxes, a n d th a t n o fu rth er tax
o n th e in ta n g ib le p r o p e r ty ca n b e le v ie d w ith o u t express legisla tive a u th o r ­
ity . T h e easem ents in 14 m iles o f tu rn pik es in a n n exed d istricts are h e ld
t o b e ta x a b le . V . 8 9 , p . 44.
In A p ril 1913 J u d g e B o n d in th e C it y C o u r t a t B a ltim o re d e cid e d th a t th e
c o m p a n y m u st p a y c o s t o f re p a v in g streets b etw een track s a n d 2 f t . o n
eith er s id e . See V . 96, p . 1090. O n A u g . 5 1913, th e C o u rt o f A p p e a ls o f
M a r y la n d reversed th o ru lin g an d u n a n im o u sly h eld th a t c o m p a n y ’s o b li­
g a tio n w ith re s p e ct t o th e tra ck area w as t o repair an d n o t t o re -p a v e .
O n J a n . 7 1913 Ju d g e Ile n is le r in tho Su p rem e C o u rt at B a ltim o re re n ­
d e re d a v e r d ic t in fa v o r o f th e S ta te R o a d s C o m m , again st th e c o m p a n y In
th e s u it t o re c o v e r c o s t o f c h a n g in g a n d r e -lo c a tin g tr a c k s , & c .— See
V . 9 8 , p . 157.
In terest. O utstanding. D iv . or M a t ­
STOCK AN D BO N DS—
D a te.
- - .............$ 2 0 ,4 6 1 ,2 0 0 A p r ’ 1 4 ,1 %
C o m m o n , $ 2 4 ,0 0 0 ,0 0 0 ( $ 5 0 ) - - ------4
2 3 .000 D e c T 3 , 2 %
P r o f, c u m , $ 1 4 ,0 0 0 ,0 0 0 ($ 5 0 )...........
I n c m tg e , g , $ 1 4 ,0 0 0 ,0 0 0 ,
_
4 g J -D
1 3 ,977,000
1949
1899
c u m , ta x fr c o , M a ryla n d - P a y a b lo a t o p tio n o f c o . a fte r M a r c h 1 1949.
T r C o , T r u s ($ 1 ,0 0 0 ) . c * t f I n t. a t A le x . B ro w n & S on s, B a ltim o re .
1899
4 g M -S
2 8 ,6 3 4 ,0 0 0 M a r 1 1949
1st c o n m tg o , g , $.38,000,000
($ 1 ,0 0 0 ); C o n tin e n ta l T r In te ro st a t A le x . B ro w n & S o n s, B a ltim o re .
C o , B a ltim o re , T r u s . . c * t f
5 g J -D
3 ,9 2 0 ,0 0 0 Jun e 1 1930
In c o m e fd g b o n d s ($100, $500 1906
& $ 1 ,0 0 0 ), $ 3 ,9 2 0 ,0 0 0 .c n t f M a r y la n d T r u s t C o ., T ru ste e .
1911
5 J-J
3 94 ,400 J u ly 15 1914
C o n v e r tib le a n d
collateral
n o to s , $ 3 ,1 2 5 ,0 0 0 ($100, I n t . a t A le x . B ro w n & S on s, B a ltim o re .
$500) a n d $ 1 ,0 0 0 ) _____ c t f Safe D e p o s it & T r u s t C o ., B a lt ., T r u s te e .
1904
5 g A -O
3 5 ,000
See te x t
C a r tru sts. Series " A , ” $35 0,­
000 , g o ld ( $ 1 ,0 0 0 ) .............t f I n t . a t F id e lity T r u s t C o .,. B a lt ., T r u s te e .
U N D E R L Y IN G S E C U R IT IE S .
Baltim ore T raction— 1st ($ 1 ,­
1 8 8 9 . 5 M -N
1,50 0 ,0 0 0 N o v 1 1 9 2 9
000) m tge ; T ru s te e M e rca n In terest a t N a tio n a l M e c h a n ic s ’ B a n k ,
tile T r & D e p o s it C o . c n t f
B a ltim o re .
N B D iv 1st ($1,000) 5s, g;
1892 _5 g J - D
1 ,7 5 0 ,0 0 0 Ju n e 1 1942
T r u s M e r T r & D e p C o .c n t f I n t . a t N a tio n a l M e c h a n ic s ’ B a n k , B a ltim o re
1892
5 g J -D
3 ,0 0 0 ,0 0 0 Jun e 1 1922
City & Suburban R y Bonds—
1st m tg e , g ($ 1 ,0 0 0 ) -------t f In t. a t A le x . B ro w n & Sons, B a ltim o re .
Safe D e p o s it & T r u s t C o ., B a lt ., T ru s te e .
1896
5 J-J
5 00 ,000 J u ly 1 1916
Baltim ore Catonsville A E llicott’s M ills— 1st m ortg age,- Safe D e p . & T r . C o ., B a lt., T ru stee. I n t .
a t N a tio n a l M e ch a n ics’ B a n k , B a ltim o re .
$50 0,00 0, prin , g ---------- n t f
5 g M -S
1 ,0 0 0 ,0 0 0 S ep t 1 1942
Lake
Roland
Elevated— 1st 1892
consol
m o r tg a g e ,
gold In terest a t A le x . B ro w n & S o n s, B a ltim o re .
B a ltim o re T r u s t C o ., T ru s te e .
( $ 1 ,0 0 0 ) ...................... c* & r t f
5 g M -N
7 00 ,000 M a y 1 1932
Central Ry— C o n s o l m o rtg a ge 1892
$ 7 0 0 ,0 0 0 , g o ld ($1 ,0 0 0 ) n t f In terest a t N a tio n a l M e c h a n ic s ’ B a n k , B a lt .
M e r ca n tile T r . & D e p . C o . o f B a lt ., T r u s te e .
1897
5 g M -S
6 00 ,000 M a r 1 1932
E x t a n d im p 1st m tg e ,
$6 0 0 ,0 0 0 , g ($ 1 ,0 0 0 )- n t f B a ltim o re T r u s t C o ., B a ltim o re , T r u s te e .
.In te r e s t a t N a t . M e c h a n ic s ’ B a n k , B a lt.
B
_______
onds.- O f th o $ 3 8 ,0 0 0 ,0 0 0 o f 1st co n s o lid a te d b o n d s , $ 2 8 ,6 3 4 ,0 0 0 h a v e
b e e n issuod ($ 2 ,1 8 4 ,0 0 0 be in g in tr e a s u r y ); $ 9 ,0 5 0 ,0 0 0 set a side t o retire
u n d e rly in g secu rities an d $31 6 ,0 0 0 h e ld b y tru stee o f c o n v e r tib le n o te s as
co lla te r a l. In c o m e fu n d in g b o n d s are re d e e m a b le o n a n y in t . d a te a t par
a n d a ccru e d in t. T h e c o n v e r tib le a n d c o lla te ra l trust n o te s are se cu re d b y
d e p o s it o f $31 6 ,0 0 0 1st c o n s o l, b o n d s a n d $ 78 8,80 0 c o m m o n s t o c k . T h e y
w ore red e e m a b le a t par a n d in t. o n 60 d a y s ’ n o tice a n d w ere co n v e r tib le
in to c o m m o n s to c k a t $25 per $50 share u p t o a n d in cl. Jan . 2 1914; th e rig h t
t o c o n v e r t ceases o n th o sam o d a te (Jan . 2 191 4). V . 9 7 , p . 667 . T h e Series
" A ” c a r trusts ou ts ta n d in g w e re o rig in a lly $ 35 0,00 0; th e y m a tu ro $3 5 ,0 0 0
p e r an n u m o n O c t . 1 fro m 1905 t o 1914, b o t h in cl. A ll b o n d s are listed o n
B a lt. S to ck E x ch a n g e an d th o 1st c o n s o l. 4s a n d $ 1 4 ,0 0 0 ,0 0 0 in c o m e 4s
are listed o n P h ila . S to ck E x ch .
Stock.— T h e preferred s to c k re p o rte d a b o v e as o u tsta n d in g Is all th a t
rem ain s o f th e origin a l issue o f $ 1 4 ,0 0 0 ,0 0 0 , th e rest h a v in g been c o n v e r te d
in to in c o m e b o n d s. C o m . s to c k listed o n B a ltim o re a n d P h ila d elp h ia
S to c k E x ch a n ge s. V . 96, p . 1631; V . 9 7 , p . 667.
D I V I D E N D S .— D iv id e n d s o f H o f 1 % w ere p aid in Jun e 1899 a n d 2 H %
in D o c . 1899, an d 2 % ea ch six m o n th s a fte r th a t t o an d in clu d in g D e c . 1903,
o n b o th th o in c o m e b o n d s a n d th e p re f. s t o c k , th e p a y m e n t o n th e s to c k
( b u t n o t o n th o b o n d s) be in g s u b je c t t o a d e d u ctio n o f M o f 1 % fo r taxes.
P a y m o n ts d u e Ju n e an d D e ce m b e r 1904, Jun e and D e ce m b e r 1905 an d
Jun e 1906 o m it t e d , an d in 1906 c o u p o n s fo r those d ates w ere fu n d e d , an d
su b seq u en t c o u p o n s w ere In lik e m an n er fu n d ed as th e y m atu red u p to
a n d in clu d in g D e c . 1910. O n Jun e 1 1911 p a id 2 % o n b o th in c o m e b o n d s
a n d p r o f, s t o c k ; D e c ., 2 % . In 1912, J u n e , 2 % ; sin ce th en 2 % e a ch six
m o n th s . O n c o m . 1st d iv .— 1 H % — p a id M a y 1912; N o v ., 1 H % In
1913. A p r il, 2 % : J u ly (q u a r .), 1 % ; O c t ., 1 % . In 1914, J a n ., 1 % .
R 6 A D . — M ile s o f tr a c k , 403 .2 7 8 ; ca rs, 1,916: g a u g e , 5 f t . 4 H in c h . R a ils ,
7 0 -lb . T a n d 9 -in . a n d 1 2 4 H -lb . girder. C a p a c ity o f (4) gen eratin g sta­
tio n s , 4 1 ,3 0 5 k .w .; c a p a c ity o f (5) s u b -s ta tio n s , 3 4 ,000 k .w .
R E P O R T fo r th o y e a r e n din g D e c . 31 1913 in V . 9 8 , p . 1241.
1913.
1912.
1911.
1910.
C a r m iles r u n . . ............... 3 0 ,2 0 3 ,1 8 5 2 9 ,4 7 2 ,5 3 7 2 8 ,6 9 8 ,3 3 9 2 7 ,9 1 1 ,5 7 3
R o v e n u o passen gers____ 182,180 ,76 7 172,233 ,34 1 161,467 ,72 7 154 ,9 2 8 ,7 8 5
T r a n s f e r s - - . . ...............
7 4 .6 3 4 ,0 3 0 6 9 ,3 4 4 ,8 2 8 6 4 ,6 4 3 ,6 3 6 6 0 ,7 8 9 ,8 0 7
. . $ 9 ,0 4 6 ,4 9 2 $ 8 ,5 7 1 ,4 8 9 $ 8 ,0 2 5 ,7 5 8 $ 7 ,6 8 7 ,8 9 5
3 ,6 8 1 ,0 9 3
3 ,6 0 1 ,8 9 6
..
4,14 6 ,4 3 1
3 ,8 6 8 ,8 7 6
O th er in c o m e .

$ 4 ,7 0 2 ,6 1 3
5,5 1 5

$ 4 ,3 4 4 ,6 6 5
2 ,6 4 0

- $ 4 ,9 0 7 ,0 0 6

$ 4 ,7 0 8 ,1 2 8

$ 4 ,3 4 7 ,3 0 5

$ 4 ,0 8 8 ,4 8 9

3- $ 2 ,9 8 7 ,4 6 8

$ 3 ,0 0 4 ,4 1 5

$ 2 ,9 1 9 ,6 8 6
45 0 ,9 4 4

$ 2 ,8 6 1 ,6 3 5
8 6 4 ,0 4 9

D ed u clion s—
D e p r e c ia tio n .

$ 4 ,0 8 5 ,9 9 9
2 ,4 9 0

. . $4,90 0 ,0 6 1
.
6 ,9 4 5

42 8 ,5 7 4
38,056
560 ,000
.(4 % ) 7 9 1 ,3 6 2 (3 % )4 6 3 ,0 5 0

..

..

530 226
3 7,950

560,000

. . $ 4 ,9 0 7 ,0 0 6
.
N one

$ 4 ,0 3 1 ,0 4 5
$214,032

5 6 0 ,0 0 0
.............
$3,930,630
$416,675

.............
$3,725,684
$ 3 6 2,80 5

[Vol . XCVIII.

ELECTRIC RAILWAYS

12

O F F I C E R S .— P r e s ., W illia m A . H ou se; V .- P . , F ran k A . F u rst; 2(1 V .- P ..
» n d G e n . M g r ., T h o s . A . C ro ss; S e c ., W illia m E a rly ; A c t in g T r e a s ., J . T .
S ta u b ; A u d it o r , N . E . S tu b b s .— V . 9 4 , p . 4 1 8 , 1058, 1179, 1187; V . 9 5 , p .
9 5 . 1124; V . 9 6 . p . 1090, 1158, 1223, 1631, 1841; V . 9 7 , p . 6 6 7 , 952; V .
9 8 , p . 157, 525, 1241.
(1) B a lt i m o r e S p a r r o w s P o i n t
& C h esapeake R y.
O R G A N I Z A T I O N .— In Ja n . 1903 w as leased fo r 999 years t o th e U n .
R y s . & E le c tr ic C o . o f B a ltim o re , w h ich gu aran tees th o b o n d s b o lo w , b o th
as t o p rin cip a l a n d In terest, an d also ow n s all o f th e s t o c k .
Soe V . 79, p .
2 64 3.
H as 35 m iles o f sin gle tr a c k , in clu d in g a lino 22 m iles lo n g c o n n e c tin g
B a ltim o re w ith th o M a r y la n d Steel W o r k s a t S p a rro w s’ P o in t , and e x te n d ­
ing b e y o n d a lon g th o sh ore o f C h e sa p e a k o B a y , w here su m m er resorts h a v e
been establish ed .
STOCK AN D BO N DS—
D a te.
Interest. O utstanding.
M a tu r ity .
S t o c k , * 2 .0 0 0 ,0 0 0 .............................................................
* 4 0 0 ,0 0 0 ....................
F irst m tg e ., * 2 ,0 0 0 ,0 0 0 , g o ld f 1903
4 H g F -A
2 , 0 0 0 ,0 0 0 F e b
11953
(8 1 .0 0 0 ) gu a ra n tee d . p r in -{ F id e lity T r u s t C o .. B a ltim o re , T ru s te e .
c ip a l and in te re s t------ c * t f [In te re st at A le x . B row n & S o n s, B a ltim o re .
R E P O R T .— O p era tio n s in clu d e d in U n ited R y s . Sc E le c .
V . 8 0 . p . 221 .
(2) B a lt im o r e H n le t h o r p e & E lk r id g e R y .
O R G A N I Z A T I O N .— In c o r p . on D e c . 26 1905 In M a r y la n d . S to c k ,
* 1 0 0 ,0 0 0 ; o u ts ta n d in g , * 1 0 ,0 0 0 . H as m a d e a * 3 0 0 ,0 0 0 m tg . n t f to F id e lity
T r u s t C o . o f B a ltim o re , tru stee. 2 0 -ye a r 5 % b o n d s, p rin . an d in t ., p a y a b le
a t A lexa n d er B row n & S on s, B a it.; n o t gu ar, b y U n ited R y s . & E le c . C o .
N o n e o u t . O w ns 2.9 6 4 m iles o f r o a d , w h ich is op e ra te d b y U n ited R y s &
___
E le c . C o .— V . 8 7 . p . 543 .

O F F I C E R S .— P r e s ., J o h n R . G ra h a m ; V .- P . , F ra n k Sillim an J r .; C lerk
& T r e a s ., H o w a rd C o rn in g . U n der m a n a g e m e n t o f E . W . C lark & C o .—
V ' 98 Pp 3 1 2 « ' l 84758P ‘ 10° 9: V ' 8 9 ’ P ' 777: V ‘ 9 2 , P ’ 13741 V ’ 93, P ' 4 6 8 ’ 1724

„
BARRE, VT.
MONTPELIER & BARRE LIGHT & POWER CO,
1 1-nu! 1 ? 'n S f —A 3',1

•— In c o r J>- ,n M a s s , on N o v . 12 1912 and ow n s a c o n L'l lAlQ BaMje .& M o n tp e lie r T r a c . & P o w e r C o . A ls o ow n s
^ n n soU dated L ig h tin g C o ., V e rm o n t P o w e r & L t g . C o .,
P eh
K,fc, F le c ‘ O o . an d M o ll y ’s Falls E le c . L t . & P . C o .
On
tn ( ■>nn o i ,i-, tA i °r K h ti
e ° those co m p a n ie s w as co n so lid a te d and leased
t o C o n s o lid a te d L igh tin g C o . fo r 99 years fro m F eb . 1 1913.
fro m 8l18l'nn9nnntfto 8« ? m nnn8 aSifc orlzed an increaso in preferred s to c k
-im

disCTeUoi/ o f th e d^recto’r a ^ ’^ f ^ ^ . ^ ^ e s . ' " St0Ck ‘ 3 t0 b ° iSSU° d
ComrmoCn * 1 ^ 0 0 ,0 0 0 m m . . .

StncT
k ,° s*i1K^
3D a te '
lnttTesU O* 1u.2
ts0t a
y in
M’08
a tu rity
.
______
________
0 .0
0 0g . J u lv
1%
S tock
,2 0n0NnnnB^
,0 0 0 ($ 5P0 )_______
F irst m tg e , $ 8 ,0 0 0 ,0 0 0 , g o ld ) 1906
5 g A -O
4 000 000 O c t 1 1931
(5 1 .0 0 0 ) , sinking f u n d c ^ f / M e r c a n t i l e * ^ . & D e p ’ C o ! ; B a lt . T ru s te e .
B a ltim ore & A n n a p o lis f ir s t / 1906
5 g F -A
1,000,000 A u g 1 1946
m ortg a g o, * 1 . 0 0 0 , 0 0 0 - - t f F id e lity T r u s t C o . , B a ltim o re . T r u s te e .
„
.
. . ,.
,
, „ U n terest at A le x . B ro w n Sc S on s, B a ltim rre.
Bonds.— A sin kin g fund o f 1 'A % on M a r y la n d E le c . R y . 1st m tg e . b o n d s
o u t began M a r . 30 1910. B o n d s are red eem a b le at 110 an d in t. on a n y int.
d a te u p on 90 d a y s n o tice .
In terest p a y a b le at o ffic o o f A le x . B row n &
S on s. See V . 83, p . 818 , 970.
D ividends.— F ir s t d iv id o n d ( 1 H % ) w as p a id In Ja n . 1907 and 2 % was
* 1907. In 1908. J a n ., 1 % ; J u ly , 1 % ; n on e sin ce to M a y 1914.
R O A D .— O perates 25.3 m iles o f track fro m C liffo r d s t o A n n a p o lis, w h ich
has been c o n v e rte d to e le ctr ic ity . A n extension k n o w n as th o S t. P aul St
B ou L line w as c o m p le te d In 1907; It is leased to U n ited R y s . Sc E le c. C o .
* OFI< I C E lt S .—-P res., Joh n W ilson B r o w n ; V .- P ., C . L o o m is A llen ; S ec ,
A u stin M cL a n a h a n ; T r e a s ., G e o . M a y ; G e n . M g r ., T . C . C h e r r y — V 85
P- 1577; V . 8 6 . p . 33 7 , 1159; V . 8 8 , p . 6 8 6 .

BANGOR, ME.

. Franc/ii.sM .— F ran ch ise fo r a b o u t 8 m iles o f tra ck In B a n g o r oxpires in
1937; fra n ch ise c o v e r in g o p e ra tio n o f 2 m iles o f track in the c it y o f B row er
expires in 1940. A ll oth ers are perpetu al.
STO CK AN D BON DS—
D a te.
In terest. Outstanding.
M a tu rity
C o m m o n , * 2 ,0 0 0 ,0 0 0 ($100) - .....................................
* 2 ,0 0 0 ,0 0 0 M a y ’ 14 U %
7 Q J
1,500,000 A p r . '14,
P r e f *1 ,5 0 0 ,0 0 0 7 % c u m (jj 1 0 0 ) ------l s t ™ n s M g old *2 .0 0 0 ,0 0 0 ,
1905
5 g A -O
2 ,0 0 0 ,0 0 0 A p ril 1 'l9 3 5
p , P , m ’ $1,000) —
(G u a ra n ty Trust C o ., N o w Y o r k , T ru ste e .
n'nKml d '
t 1§ 99* M
A °
6 00 ,000 A p ril 1 1929
000 (*5 0 0 . * 1 , 0 0 0 ) - - — c * t f l i n t , at O ld C o lo n y T r u s t C o ., B o s t o n . T ru s .
B a r H ar Sc Un R P o w C o l s t f 1907
5 M -S
283 000 SoDt 1 1 9 3 5
& r e f, *2 ,0 0 0 ,0 0 0 ( * 1 .0 0 0 )c * jC o m m e r c ia l T r u s t C o . l ^ l i a . T rS sto o
5
B a r H a r b o r E lectric L ig h t C o l 1901
414 M - N
1 0 0 non a t ™ i 1 0 0 1
* 1 0 0 ,0 0 0 (* 5 0 0 ).
n t f In t. at P o rtla n d N a t. B a n k P ortlan d M e
B \ T ™ m n r G ° ’ l8 t m tg f f > r 1? 1 1 . ttS9° to x t
1.160,000 S ept l ’ 19 3 /
' % b f U4 t " j : r U' ,O ° b 0N 00 X j u r f T » 2.,
n0t s u b je c tr,f°f| [ n a' at P o rtla n d ( M e .) N a t . B a n k and U nion
call (*5U()i
n t f l 8 afo D e p .& T r . C o .,P o r t la n d , M e ., T ru s .
1 n 7 u dt ' l n J ™ ™
aro s u b je c t t o call on 60 d a y s ’ n o tice at
n w ° n ^ y i1,6- d a t0 - aI n t - a t o ffic e o f trustoe, N . Y . . o r Eastern
T r u s t & H kg, C o . B a n g o r. See p articu lars, b o n d s, p r o p e r ty , & c ., V.
o n 1 p ’ JJVjp- o o q L n n br i ^ Y r » rnhS c .°- b o n d s are n o t s u b je c t to call; V .
ou , p . 245 6. o 9 o 4 ,0 0 0 I3a,r I ia r b o r & U n ion R iv e r P o w e r C o b o n d s hn.vn
been issu ed , o f w h ich $62 9 ,0 0 0 are d e p o site d u n d er B a n g o r R y & E le c
J
ll? nS>$6,000
f i n n f tin
Vn
^ 0 q ar?
r ?. H
r ecl
2 8 3,00
inder
hanS ds
of
P8u
ub
blic.
treas.
of B
.& U . Phar5
R . p . cC°*o . and
O f $tho
rem0ain
I DO s i o n s T ^ ^ t - T ^ 0 rf ir° B a r H a r b o r E le c. L t . b o n d s a nd * 9 6 6 ,0 0 0 fo r ^ P e n ­
sion s, & c ., a t 8 5 % o f c o s t o f sam e. T h e y are gu a r ., p . & I., b y B a n g o r R y &
E le c . C o . and are s u b je c t t o cal! at 107J4 and int. on a n y in t d a te on 60
N yY
^ A / e r r i l l T r C o . B a n ?o r; also at J . W . Seligm an & C o "
74’ Y L T 9,lste,° ° C B a r H a rb o r E le c . L t . C o . b o n d s is U n ion S afe D e o Sc T r
C o P o r tla n d . M o . O f B a n g o r P o w . C o . 1st M . b o n d s, * 7 5 0 ,0 0 0 Ser A (ali
o u t) bear Int. at 4 % t o S ep t. 1 1916; 4 K % to S ep t. 1 1921 an d 5 % th e re ­
a fter t o m a tu rity . Series B . * 1 .7 5 0 .0 0 0 au th . (SI ,000c*) *4 1 0 000 o u ^

M

I

N° •'**■

R E P O R T .— F o r years e n d in g D e c . 31. P a ss, carried in T 3 7 008 4 7 5
Calendar
Gross
N e t (after
In terest, P ref. D iv
' Balance'
—
E a rn in g s.
T a x es],
&.c.
(7 % )
S u rn lu s’
*105 000
8101 080
J 9 1 3 ---------------- ----------- * 7 6 4 ,0 8 5 * 4 1 7 ,5 7 3 *2 0 7 ,5 8 4
......................... 7 10 ,027 3 8 9 ,1 8 5
199,657
105 000
84 528
1912
R O A D .— O perates 64.6 8 m iles o f tra ck in B a n gor and B row er M e and
fro m B a n gor t o H a m p d e n , to O ro n o , to O ld T o w n and to
R a ils , 48 t o 9 0 -lb . girder and T stan dard gaugo. 51 pass a n d "26 freight
9 9 * ? ^ now -plow s and 1 sprinkler.
P ow er station s have total c a n a c ^ v
o f 17,700 h . p .
Th e B a r H a rb o r & U n . R iv e r P o w . C o . (a s u b s id ia r y ™ ^
wIU co n s tr u c t an extension on its d istrib u tio n s e rv ice lino in E l sw orth to

thB

MatUritU‘

BATON ROUGE, LA.
BATON ROUGE ELECTRIC CO.
O R G A N I Z A T I O N , & c. O rga n ized In L ou isian a; d o e s en tire e lectric
r a ilw a y , e le ctr ic -lig h tin g , p o w e r an d gas business in B a to n R o u g e .
R a llw a y ^ fra n ch ise expires 1940; gas 1942, ele ctric-lig h tin g an d p o w e r 1988.
STOCK A N D BO N DS.
D a te.
Interest. O utstanding.
M a tu r ity .
C o m m o n , * 5 0 0 ,0 0 0 ( $ 1 0 0 )—
____
______
* 3 0 0 ,0 0 0 ....................
J -D
P r e f, * 2 5 0 ,0 0 0 (S100) 6 % - T- r — —
2 0 0 .0 0 0 J u n o ’ 1 4 , 3 ‘
1st m o rtg a g e , * 7 5 0 ,0 0 0 , g o ld ) 1909
5 F -A
4 1 0 .5 0 0 F o b 1 19d
(* 5 0 0 an d * 1 ,0 0 0 ) - — c * . t f f l a t , a t O ld C o lo n y T r u s t C o 7 ,''B o sto n , trus'tee
Stock.— D iv . on p re f. is c u m u la tiv e a fte r J u n e 1912. R e d e e m a b le a t 110
B on ds.— * 1 0 ,0 0 0 b o n d s are in treasury o f c o m p a n y ; rem ain in g b on d s
m a y b e Issued a t n o t to ex ce e d 8 0 % o f c o s t o f a d d itio n s an d im p ro v em en ts
M a y b o ca lle d , in w h o le o r in p a r t, a t 105 and Int. on a n y in t d a v
s in k in g
fu n d o f 1 % per an n u m o f b o n d s o u t b egin s F e b . 1 1914.
y ‘ alnK lng
D ividends.— O n p r e f ., 3 % s .-a n n . fro m D e c . 1911 to and in cl. Jun o 1914.
E A R N I N G S .— F o r 12 m o s . e n d in g D e c . 31 1913, g ro ss, *163 128' net
a fte r taxes, * 6 0 ,7 4 7 ; c h a rg e s, * 2 0 ,9 7 1 ; sin k in g fu n d , * 3 ,8 0 4 ' nr’e f <11 vs
( 6 % ) , * 1 2 .0 0 0 ; b a la n c o , * 2 3 ,9 7 1 .
’ 1
u lv s ’
R O A D .— O perates 6-23 m llos o f track In fo rm o f a sin gle b elt th rou gh
B a to n R o u g e ; 13 cars; sta n d a rd g a u g o .
0
O F F I C E R S .— P r o s ., H a rry 11. H u n t; V .- P s ., E d w . G o d ch a u x and G u v
L . W e y m o u th ; S e c ., A lv a h K . T o d d ; T r e a s ., H e n ry B . S aw yer; G e n . M grs
S to n e & W e b s te r M g t . A s s ’n ; M g r ., T . O . K e o lin g .— V . 8 4 , p . 506; V . 8 8 ’
p . 881 ; V . 8 9 , p . 72 0 .
__________

BEAUMONT, TEX.
E A ST E R N T E X A S E L E C T R IC C O .
O R G A N I Z A T I O N .— I n c o r p . in M a in o In D e c . 1911 a n d ow ns the stock s
an d b o n d s o f th e B e a u m o n t E le c tr ic L ig h t & P o w e r C o . , P ort A rth u r L ig h t
& P o w e r C o . an d P o r t A r th u r I c e & R e frig e ra tin g C o . , w h ich d o th e entire
ele ctric-lig h tin g an d p o w e r businoss In B e a u m o n t a n d P o r t A rth u r and the
Ice-m an u factu rin g an d refrigeratin g business in th e la tte r c it y , an d also o f
th o J efferson C o u n t y T r a c t io n C o . , w h ich in D e c . 1913 co m p le te d an inter­
u r b a n e le ctr ic ra ilw a y be tw e e n B e a u m o n t an d P o rt A r th u r , a d istan ce o f 20
m ile s. Fran ch ises in B e a u m o n t e x p ire in 1963; in P o r t A rth u r in 1943. T h e
in te ru rb a n railw ay is c h ie fly on p r iv a to r ig h t -o f-w a y . In Juno 1913 pur­
ch ased th e * 6 0 0 ,0 0 0 s t o c k an d * 2 0 0 ,0 0 0 o f th e * 6 0 0 ,0 0 0 b o n d s o f th o B ea u ­
m o n t T r a c tio n C o . , w ith a v ie w t o o p e r a tin g th a t ro a d in co n n e ction w ith
th e J efferson C o u n t y T r a c t io n C o .
V. 9 6 , p . 1629.
STOCKS A N D BO N D S.
D a te.
In terest. O utstanding.
M a tu rity
— * 1 ,4 0 0 ,0 0 0 —
u'
C o m m o n , * 2 ,0 0 0 ,0 0 0 ( * 1 0 0 ) ...............
P r e f cu m * 2 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ..................
0 % J -J
1,400,000 S e o 'to x t
1 st m o rtg a g o co lla te ra l t r u s t/
1912 5 M - N
8 00 ,000 N o v 1 1 9 4 2
g o l d ...........................c * & r . t f li n t , a t S ta to S t. T r . C o .. B o s to n , trustee
C o u p o n n otes * 5 0 0 ,0 0 0 g o l d / 1913
6 g J-J
5 00 .000 J u ly 1 1916
(S 5 0 0 & * 1 .0 0 0 )______c * . t f l i n t , a t S ta te S t. T r . C o ., B o s to n , trustee
B e a u m o n t T r a c tio n 1 st M V 1909
5
400 ,0 0 0
19 4 3
* 6 0 0 , 0 0 0 - - .........................t f) I n t e r s t a t e T r u s t & B a n k in g C o ., T ru s tee
Stock.— P re f. s to c k is c a lla b le a t 110. * 5 0 .0 0 0 In treasury (in a d d ition
t o a m o u n t show n a b o v e ) .
„
,
D ividends.— 6 % Is b e in g p a id o n th o p referred s to c k .
Bonds.— 'A u th o rize d a m o u n t o f b o n d s n o t lim ite d . $ 4 0 0,00 0 in troasury
In a d d itio n to a m o u n t o u ts ta n d in g as a b o v e . A d d itio n a l b o n d s m a y be
Issued fo r 7 5 % o f c o s t o f a c q u is itio n s , im p ts ., a d d ns, & c ., under certain
re strictio n s. C a lla b io as a w h o le (o r in p a rt fo r s k . f d .) a t 105 and in t.
S in k . fd . 1 % y e a r ly o f b o n d s o u t , b e g in . N o v . 1 1917. C o u p , b on d s in d en o m . o f $ 1 ,0 0 0 an d * 5 0 0 a n d r e g . b o n d s o f $ 5 ,0 0 0 an d m u ltiples. V . 9 5
p . 1745. T h e 3 -y e a r c o u p , n o te s are ro d . at 100 & Int. o n 30 d a y s ’ n o t ic e ’.
E A R N I N G S .— F o r 12 m o s . e n d in g D e c . 31 1913 (co m b in e d com pan ies)
gross, *44 0 ,4 4 2 ; n o t, * 1 6 9 ,8 5 0 ; o th e r in c o m e , * 4 2 ,6 8 2 ; interest, * 7 1 1 7 7 .’
p re f. d iv s ., * 8 4 .0 0 0 ; su rp lu s, $ 5 7 ,3 5 5 .
’
’
Property and Plants.— 'T h e e le ctric ligh t an d p o w e r gen eratin g plants s e r r .
ing B e a u m o n t and P o rt A rth u r h a v o a prosont co m b in e d ca p a c ity o f 7 9 4 0
h . p .; ico pla n t a t P o r t A r th u r , as re c e n tly en a rg o d . 75 ton s o f Ice per d a v street railw ay in B e a u m o n t op e ra te s 28.73 m iles slnglo track w ith 20 m o to r
cars an d 6 o th e r cars an d p o w e r s ta tio n o f a b o u t 800 li. p . T h 0 2 0 -m lln
ele ctric railw ay betw een B e a u m o n t an d I o rt A rth u r w as fo rm a lly oneneri
on D e c . 15 1913.
V. 9 7 . !>• 1,822.
y pened
„ O F F I C E R S .— P r e s ., M a rsh a ll M . P h in n o y ; V .- P ., G u y L . W e y m ou th S e c ., C . M . C la rk : T r e a s ., H . B . S a w y e r. G e n . M g r s ., S to n e Sc W ebster
M g t . A ssn .— .V. 9 3 , p . 1791: V . 94, p . 1768; V . 95, p . 1210, 1745- V 96
p . 1627. 1629; V . 9 7 , p . 4 9 . 1822 ,
’
v’

BENTON HARBOR, MICH.

“

~ R
[*d s-— 5 % P0r an n u m p aid on th e old s to c k (all o f o n e class) fro m
O c t . 1 1905 to O ct. 1909. w hen 1 14 % (q u a r .) was p a ld /w h ic h rato^vas c o m
tin n ed to O ct. 1910. In 1 9 1 1 ,7 % .
In 1911 s to c k w is in c r e w e d am i new
p r e f. s to c k w as c rea ted , on w h ich l> 4 % has been paid qu a r frormTan 1 0 1 9
to an d in cl. A p ril 1914. O n com m on Initial d iv . o f >4 % was’ paid M m 1 ' ill
e , L \ T ^ S T E A R N I N G S .— F o r 12 m o s . e n d in g A f a r c l ^ l 19 l t y iro V s $109’^ 8-4 n e t ’ 842 1 ,8 6 6 : l n t ” & c ” $ 2 0 7 ,7 8 2 ; p re f. d i v ., *1 0 5 ,0 0 0 ;^ b a h ’,

- -

B a n o M I o n t p T r a c \ s t M g / 1897
^
31 0 0 ,0 0 0
(* 5 0 0 e a c h ), n o t ! In t. a t A m e rica n T r . C o . , B o sto n trustoe
s u b je c t t o c a ll___________ c * l
C o n s o lid a te d L ig h tin g C o .......................
5
J-J
7 0 0 ,0 0 0 Jan 1 1926
V e r m o n t P o w e r & L t g C o .......................
5
M -S
4 0 0 ,0 0 0 M a r 1 1927
C o r r y -D e a v it t -F r o s t E l C o ....................
6
M -S
115,000 M a r 1 1930
Bonds.— T h e a b o v e b o n d s o f lig h t an d p o w e r co m p a n ie s are assum ed
b y th o M o n t p . & B a rro L t . & P o w e r C o . I t w as r e p o rte d In M a y 1914 th a t
o f tho * 1 ,2 1 5 ,0 0 0 o u ts ta n d in g b o n d s a b o v o * 1 5 6 ,0 0 0 w ere pu rch ased b y
sin k in g fu n d s , m a k in g to ta l o u t * 1 ,0 5 9 ,0 0 0 .
D ividends.— A d i v . o f * 2 50 w as p a id on th e p r e f. s to c k A p r. 1 1913,
c o v o r in g th e 5 m o n th s fro m d a t e o f o rg a n iz a tio n o n N o v . 12 1912 to A p ril 12
19i,3i
J u ly 16; O c t ., *1 50. In 1914, J a n ., *1 50; A p r il, *1 50.
N o v - 12 1912 t o Ju n o 30 1913, re von u es, $ 63 ,738 ;
n e t. * 5 5 ,8 4 5 ; d e d u ctio n s . * 2 4 ,5 9 1 ; su rp lu s, * 3 1 ,2 5 3 .
R O A D .— T h e B a rre Sc M o n tp e lie r T r a c . & P o w e r C o . ow n s 9.1 m iles
o f AIS ^ A >^ tAT„een Barro. & M o n tp e lie r . 5 8 -lb . T rail. G a u g e 4 f t. 8 H In.
O F F I C E R S .— C h . o f B d . o f D ir e c to rs , C . I I . T e n n e y ; P r e s ., A . B . T e n ­
n e y ; V .- P . , D . E d g a r M a n s o n ; G en . M g r ., I I . T . S an ds; C le r k , I I . P . W o o d ;
T r e a s .. E . A . B r a d le y ; A s s t. T r e a s . an d A u d ., I I . A . G Id n e y .— V . 9 5 ,
p . 1331; V . 9 7 , p . 668.

TH E M A R Y L A N D ELECTRIC R A IL W A Y S CO.
O R G A N I Z A T I O N .— In 1906 th e charter o f th e M a r y la n d E le c . R y . w as
a cq u ired b y Interests frie n d ly to tho U nited R y s . & E le c, for th o p u rp o se ,
a m on g oth ers, o f u sing th a t c o m p a n y t o fin a n ce th e needs o f th e U nited R y s .
St E le c . C o . fo r a d d itio n a l p r o p e r ty , and charter am en d ed b y L egislature in
1006 t o a d a p t it t o th a t p u rp o se . In A u g . 1906 w as c o n so lid a te d w ith tho
B a ltim o re Sc A n n a p olis S h ort L in e , w hich la tter line has sin ce been electri­
fie d . T h o M a r y la n d E le c tr ic R y s . then a cq u ire d ca r-b a rn sites, te rm in a ls.
& c ., a n d Is erectin g bu ild in gs, c o n s tru ctin g exten sion s, pu rch asin g e q u ip ­
m e n t, & c ., w h ich Is leased to th e U n ited R y . Sc E le c tr ic C o . fo r an annual
i ^ a d o f 6 % u p on th e a ctu a l c o s t o f the p r o p e r ty . A t m a tu rity o f th e
* 8 .0 0 0 .0 0 0 b on d s o f T h o M a r y la n d E le c . R y s ., th e U n ited o blig ates Itself
to p u rch a se th e p r o p e r ty so loased at a sum s u fficie n t to retire th e b o n d s.
See plan In fuil In V . 8 3 , p . 156. T h e re is n o g u a ra n ty endorsed on b o n d s,
b u t th e term s are su ch th at rental w ill bo m o re than su fficie n t t o p a y in ter­
est. S to c k listed on B a ltim o re S to c k E x ch a n g e In F e b . 1908

BAN GOR R A ILW A Y & ELECTRIC CO.
•
.. O B 9 4 _ N I Z A T I O N .— I n c o r p . F e b . 16 1905 in M a in o an d is a c o n s o lid a ­
tion o f th o B a n g o r O ro n o & O ld T o w n R y ., B a n g o r H a m p d e n Sc W in te rp o r t R y ., P u b lic W ork s C o . , O ld T o w n E le c tr ic C o ., B row or W ater C o
an d P e n o b s co t W a ter & P o w e r C o . O n F o b . 1 1907 p u rch ased the B a n go r
& N o rth e r n R R .* V . 8 2 , p . 3 3 3 . O w ns th o on tiro ca p ita l s to c k o f the
B a n g or P o w e r C o . , also th o en tire c a p ita l s t o c k , w ith tho e x ce p tio n o f on o
sh are, o f tho B a r H a r b o r & U n ion R iv e r P o w e r C o . , an d all tho ca p ita l
s t o c k o f tho O ron o W a te r C o . O w ns an d op e ra te s w ith o u t c o m p e titio n tho
e lectric railw ay lines in B a n g o r a n d B row er an d tho lines c o n n e ctin g B a n go r
w ith H a m p d e n , O ro n o , O ld T o w n , C h a rleston an d in term ed iate to w n s.
A ls o th e entire e lectric ligh tin g an d p o w e r business o f B a n go r O ld T o w n
M ilfo r d . O ro n o , B rew e r. H a m p d e n V ea zle, K en d u sk eag and O rr in g to n ’
w ith tho e x ce p tio n o f th o m u n icip a l ligh tin g in B a n g o r, and furnishes the
w ater s u p p ly to V ea z ie , O ld T o w n , S till w a te r . M ilfo r d G r c a t W o r k s
an d B row er.
In a d d itio n t o th o a b o v e , tho c o m p a n y , th ro u gh its co n tro lle d
com p a n ies does th e on tiro ele ctric ligh tin g and pow er business in E U sw orth
a n d <O ro n o Goserfc *s*a tld - A ls o furnish es th o w ater s u p p ly to E llsw orth

k/ 10

BENTON HARBOR-ST. JOE RAILWAY & LIGHT CO
O R G A N I Z A T I O N .— In c o r p o r a te d in M ich ig a n in J a n . 1906 and Is a eon
so lid a tio n o f th e B o n to n H a rb o r & S t. Josep h E le ctric R v & L lv h t C o
and the S t. J o se p h R iv e r T r a c t io n C o .
y’ “
o o 8j r „ K , 5 r o o » B ° ™

a. - . - - D -

! ." ! ? r -

° ^

s s »

m

m

“ -

£

; &
i J o« „ . a ' o o f c ( -w as
n t - l , '
is ? ®
($500 and 5 1 ,0 0 0 )............. c jl n t e r o s t a t C o lu m b ia T r . C o
L o u isv trust
1st co n s M , * 1 ,0 0 0 .0 0 0 , g o l d / 1906
5 g M -N
840 000 N o v i 1935
($500 and $ 1 ,0 0 0 } — - - — c j l n t . a t C o lu m b ia T r . C o ., L o u is v ., tru stee.
B H Sc S J E l R y Sc L 1st M , / 1900
6 g M -S
160 000 SeDt 1 1920
* 2 0 0 ,0 0 0 . g o ld ($ 1 ,0 0 0 )— l i n t , a t A m . T r . Sc S a v . B a n k . C h ic 1., trustee.
Bon ds.— O f th e $ 1 ,0 0 0 ,0 0 0 1st co n s , b o n d s, $16 0 ,0 0 0 are rescrvod t o re­
tire p rio r lion s. T h e y are s u b je c t t o call on a n y Interest d a y a t 105. T h e b d s .
o f th o o ld c o m p a n y a fte r 1910 h a v e a sinking fu n d o f * 1 0 ,0 0 0 por a n n u m ,
b u t b o n d s c a n n o t b o c a lle d . S e e V . 7 l , p . 1268; V . 7 2 . p . 28 2 . O f t l i o r e f
b o n d s , * 1 ,0 0 0 ,0 0 0 are reserved fo r prior liens.
D ividends.— P r e f. d iv s . a t ra to or 6 % p er an n u m are b e in g p a id .

^ r l y fall o / 1 9 1 4 ! 8 m ,l6S’ W hich’ 16 ,s e x p o c te d ’ w ill bon c o m p le te d °In hthe




1 9 ? 2 ^ T » 3 0 M 8 8 . ^ 'n i i . ’ S

K

^

M ' ,6 ' ° 3 0 ' ” « • 51‘10' 3 5 3 '

*“

May , 1914. j

ELECTRIC RAILWAYS

R O A D .— O perates 16>4 m iles o f tr a c k In S t. J o se p h a n d B e n to n H a r b o r ,
w ith extensions o f 24>4 m iles th ro u gh E a u O la lre to D o w a g la c an d 10 m iles
to P a w P a w L a k e, m a k in g a to ta l o f 51 m iles. Is b u ild in g an exte n sio n o f
2 H m iles from C o lo m a t o W a te r v le lt, o f w h ich 2 m iles is c o m p le te d .
6 0 , 70 and 73-lb g ird er an d T rails. 25 passenger a n d 13 o th e r cars.
O F F I C E R S .— P r e s ., C . K . M in a r y , B e n to n H a r b o r , M ic h .; V .- P ., H e n ­
n in g C h a m b ers, L o u is v ille , ICy.; S e c ., L . W . B o t t s , L o u isv ille ; G e n . M g r .,
f i . O . M a s o n , B e n to n H a r b o r .— V . 8 2 , p . 3 3 3 ..

13

BIRMINGHAM ENSLEY & BESSEMER RR.
O R G A N I Z A T W N . - ^ c o r p . In A la b a m a w ith p o w e r t o o w n , lease and
exnress^
an d generaI ra ilroad s fo r tra n sp o rta tio n o f m a ll,
express, fre ig h t a n d passengers, also to s u p p ly cu rre n t fo r ligh tin g anci
p o w e r pu rp o se s. O perates u n d e r 9 9 -y e a r fra n ch ise th ro u gh G re a te r B ir ­
m in g h a m , w h ich co v e r s th e tra n sp o rta tio n ^
p r W a ^ r i g h t ^ ^ a v POt^ l , ^ a.,?ch ,? e a n d ' Y her« there are n o f r a n c ® o n
fre ig h t s e rv ice w n ffr e I n l ^ r l ^ 8 co m p le te d t o Bessem er a n d P r a tt C it y

BIDDEFORD, ME.
B I D D E F O R D & S A C O R R — A tr o lle y r o a d .
O R G A N I Z A T I O N .— In c o r p o r a te d F e b . 19 1887.
STOCK A N D BO N DS
D a te .
In terest. O utstanding. M a tu rity .
S to ck ($50) $ 1 0 0 ,0 0 0 ..............................
A -O
$ 1 0 0 ,0 0 0 A p r ,'1 4 , 3 %
1 st m o r t 530 0 ,0 0 0 (SI .000) f 1900
1 g J -D
150 ,000 Ju n e 1 1940
g old c * . N o s f b u t c a n b e In te re st a t P o rtla n d T r u s t C o . . P o r tla n d ,
called In 1920-------------------t f l M e ., tru stee.
E A R N I N G S .— F o r fis ca l years e n d in g J u n e 30;
, n Y^a,rr ~
J irossN e t.
I n t .,& c .
D ivid en d s.
Surplus.
$ 2 8 ,9 9 6
$ 7 ,7 7 2
$ 6 ,0 0 0
$ 1 5 ,2 2 4
1 9 1 2 -1 3 ................... $ 7 3 ,6 6 4
!9 1 1 -1 2 ---------------- 7 3 ,3 2 8
2 4 ,6 0 3
7 ,7 4 5
5 .0 0 0
11,858
R O A D — O perates 8 m iles o f tra ck betw e e n S a c o , B ld d e fo r d an d O ld
O rch a rd B ea cn .
O F F I C E R S .— P resid en t, C . I I . P r e s c o tt, B ld d e fo r d ; S ecre ta ry an d
T rea su rer. E . F . L o r d .— V . 70. p . 1048: V . 7 3 , p . 494 .

c S 2 ™ $000 “
D;! ~
D aU P re fe rre d , $ 1 ,5 0 0 , 0 0 0 ............... 1 I " ..........................
i * n n n n n .......................
1st M $ 3 ,5 0 0 ,0 0 0 g ($1,000,1 1 9 1 1
S M '- i f "
2 6 5 0 non M k r T i o I i
$500 a n d $ 1 0 0 )-----------c U f / l n t a t E q u h a b le T r u s ^ C o . '^ N . Y ° f T n i t t S
Bonds.— R e m a in in g $85 0 ,0 0 0 b o n d s m a y b e issu ed fo r exten sion s h e tg r S &

there^after.10 « “ &t 105 a n d • c c r M

n W

& . Gf ! 8

^

Sg?

B l ^ l n ^ ^ * ^ ^ ^ L ^ e ) ^ h r o u g d i * t h e ^ c a a t r e o f t lu f e i t y 1o f ^ i m ? n g h a m * t o
E n s lo y . R e m a in in g 11 m iles betw een B essem er an d P ra tt C it y a r e e x i t e d
t o be c o m p ie te d in 1914. 8 5 -lb . steel rails; sta n d a rd gauged f f a s 25
I> A - Y -E steel c o a c h e s , 30 d u m p ca rs, 12 fla t ca rs , 4 b o x ca rs , 8 steel | o n p

n 5 6 rei 3 6 3 l e V

97m p .° 3 6 3 elg

CarS’ &C” &C’~ V * 9 5 , p . 749;

V . 96.

B L U F F T O N , IN D .

BINGHAMTON, N. Y.

MARION BLUFFTON & EASTERN TRACTION C O — A tr o lle y r o a d .
B I N G H A M T O N R A I L W A Y C O .— A tr o lle y r o a d .
R eceivership.— A s a resu lt o f a h e a d -o n collisio n o n J u ly 7 1912. in w hich
O R G A N I Z A T I O N .— Is a c o n s o lid a tio n S e p t. 30 1901 o f th e B in g h a m to n
R R . C o . (ch artered A u g . 11 1892 as a c o n s o lid a tio n o f all street railw ays in fo u r person s w ere k illed an d 60 o r m o re in ju re d , a n d an o rd e r o f th e S ta te
re q u irin g h e a v y o u tla y s fo r im p ro v e m e n ts , th e W e lls
c it y ) an d th e B in g . L estershire & U n io n R R .
P rin cip a l fra nchises gra n te d
«
on
24 1912 a p p o in te d th e U n io n S a v . & T r . C o .
b y special A c ts o f L egislatu re, a n d are perpetu al and p r a c tic a lly e x clu siv e .
P urchase by Scranton & Bingham ton ItR .— T h e N . Y . S tate P . S . C o m m , o f B lu ffto n as re ce iv e r. T h e c o . a d m itte d its In s o lv e n cy . V . 9 5 , p . 297.
Foreclosure Sale.— I n t h e la tte r part o f F e b 1 9 1 4 th e road
Qnlri at
o n F e b . 26 1914 a u th . th e pu rch aso o f a m a jo r it y o f th e $97 8 ,9 9 5 s to ck
b y th e S cra n ton & B in g h a m to n R R . (a p r o je c t e d line o f 62 m ilos fro m r e ce iv e r s sale t o c o m m itte e o f b o n d h o ld e rs. P r o p o s itio n th e n w as t o rn
in t
S cra n to n , I’ a . , t o B in g h a m to n , N . Y . , o f w h ich 21 m iles In o p e ra tio n fro m o rga n ize w ith $ 2 1 0 ,0 0 0 c o m m o n s t o c k an d $ 5 0 4 ,0 0 0 5 % g o l d ^ o n d s
’’
"
S cra n ton t o N ic h o ls o n ) a t 60; o v e r 9 0 % o f th e s t o c k , it Is u n d e rsto o d , has J . & J . , b u t In M a y 1914 ro a d w as still b e in g o p era ted b y re ce iv e r.
been d e p o s ite d w ith th e F irst N a t . B a n k o f B in g h a m to n . See V . 9 8 . p .
O R G A N f Z A T t O N .— (Ji-ganized In 1905 in In d ia n a . P r iv a te rig h t o f
522 a n d 525 , 837 a n d 840 .
w a y . L oasos th o B lu ffto n G e n e v a & C e lin a T r a c t io n C o . (see b e lo w )
STOCK A N D BO N DS—
D a te.
In terest.
Outstanding.
M atu rilu .
E A R N I N G S .— G ro s s , $1 2 2 ,8 2 1 ; n e t , $ 4 6 ,5 6 2 .
S to c k . $1 ,1 5 0 ,0 0 0 ($ 1 0 0 )_____ ------4 F -A
$ 9 7 8 ,9 9 5 F o b . T 4 , 2 %
( Z ' (^ ! ? ra. w 51
°,f tra ck (in clu d in g 19 m iles fro m B lu ffto n t o
B in g h a m ton R R C o m tg e ,
1913-1917 rD’ cacnc v^a -D le
2 5 ,0 0 0
a s o d ), b etw een M a r io n , w h ere co n n e c tio n is m a d e w ith U n ion
$ 9 0 0 ,0 0 0 , g . $ 1 ,0 0 0 - - c + t f
_
_
($ 5 ,0 0 0 d u o y e a rly )
T r a c . C o . o f I n d . lines an d I n d . R y s . & L ig h t C o ., an d B lu ffto n , I n d . c o n ­
(S ee text) In terest a t M o t 1893
5 g J -J
5 0 ,0 0 0
1918-1922 n e ctin g there w ith F t . W a y n e & N o rth e rn In d ia n a T r a c . a n d U n io n T r a c
tro p o l T r u s t C o , N Y ,
($1 0 ,0 0 0 d u e y ’ly S ep 1) C o . o f I n d . S ta n d a rd g a u g e . 7 0 -lb . T rail.
T ru s te e .
5 1 7 ,0 0 0 d u e Sep 1 '23
O F F I C E R S .— U n io n S avin gs & T r u s t C o . , re ce iv e r. P r e s ., L . O .
B in g L est & U n 1st M ($ 2 5 0 .­ r 1895
r - - „ 5- g
- J- -D
147,000 Ju n e 1 1925
0 0 0 ) , g o ld , p rin cip a l and In terest a t M e tro p o lita n T r u s t, N o w Y o r k
p 2 9 7 ^ V t : 9 7 U p’ J 1 M ? F ‘ C la rk : S u p t* o f T r a n s ., G e o . A . R e d d .— V . 9 5 ,
Interest g u a r ...................... t f
B in g h a m to n T r u s t C o . , T ru ste e .
R in g R y 1st c o n s o l m tg e , $ 2 ,­
1901
5 g M -N
1 ,3 26,000 N o v 1 1931
(1)
B l u f f t o n G e n e v a & C e l i n a T r a c t i o n C o .— A tr o lle y r o a d .
6 00 ,000 g o ld ( $ 1 ,0 0 0 ) c * t f I n t . a t F id e lity T r u s t C o . , B u ffa lo , T ru s te e ,
O R G A N I Z A T I O N & C .— O rga n ized In In d ian a in 1907. P r iv a te rig h t
„
.
,
.
_
o r S eab oard N a tio n a l B a n k , N e w Y o r k .
. ?2n .
Pon<4s o f 1893, $ 75 ,000 m atu ro in installm ents as in d ica te d
Stncky «ttrn
J “ }y 1 1910 t o th e M a r io n B lu ffto n & E a stern T rac*
In th e ta b le and th e rem ain der S e p t. 1 1923. O f th e B in g h a m to n I iy . 1st
, 0 ’000 ? ° ™ . . $22 5 ,0 0 0 (5 % c u m .— J .-J .) p re f. R o a d 19 m iles o f
c o n s o l, m tg o ., en ou gh a re reserved to retire u n d e rlyin g b o n d s an d th e r e ­ Pres* HrtWr'0nA rnnhf-0 v a V>a ® en ®ya th rou gh V era C r u z a n d L in n G r o v e .
m ain der fo r acq u isition s, e x te n s ., & c .. u n d er carefu l re strictio n s. T h o y are j r 08; , H* G . A r n o ld ; V .- P . , A . G . B riggs; S e c ., G . S . M arklev* T ro a s
W . A . K u n k e l; A u d . & P u r c h . A g t . , Jam es S . c ia r k .
’
sub. to call a t 110 & in t. S ee V . 7 3 , p . 1312; V . 78. p . 701; V . 8 8 . p . 748.
D ividends.— 2 % w as p a id J a n . 31 1902; 2 % M a r . 3 1903; 2 % A p ril 11
1904 an d 2 % A p ril 10 1905. A scrip d iv id e n d o f 2 0 % w as p a id A p ril 18
1905. In 1906, 2 )4 % .
I n l9 0 7 ,2 H % In 1 9 0 8 ,2 * 4 % .
In 1909, S e p t.,
B O ISE C IT Y , ID A H O .
2*4% In 1910, S e p t ., 2 * 4 % . I n 191 1, S e p t ., 3 % .
In 1912 a n d 1913,
ID A H O R A IL W A Y , L IG H T & P O W E R C O .
4% .
In 1914, F e b ., 2 % .
O
R
G
A
N
I
Z
A
T
I
O
N
.—
I n c o r p . in M a in e in 1912 w ith $20 000 000 c o m
R O A D .— O perates 48 m iles o f tr a c k . C o n n e c ts B in g h a m to n w ith
L ostershire, H o o p e r , E n d ic o t t , U nion and P o r t D ic k in s o n . A n extension an d $ 1 0 ,0 0 0 ,0 0 0 6 % c u m . prer. s to c k t o a cq u ire th e fo llo w in g p r o p e r tie s ;31’
B
o
ise
&
In
te
ru
rb
a
n
R
y
.
IC a ld w ell P o w e r C o .
P
fro m U nion t o O w ego is bein g co n s tr u c te d . S ta n d a rd ga u g e 6 0 -lb t o
5 °,
t t lt .. L td
D e w e y E le c. L t . & P o w . C o ., L t d .
103 -lb. T and girder rail; 75 m o to r cars a n d 27 trail ca rs.
B oise V a lley R y .
] Sw an F alls P o w e r C o .
E A R N I N G S .— F o r y ea r en d in g D e c . 31 1913, gross. $445 508- not
$1 3 8 ,2 6 5 ; ln t .(& ta x e s ; $12 1,17 3; su rp ju s, $ 1 7 ,0 9 1 . In 1 9 l j . gross, $ 4 2 5 ,- ., tu s t a r c h 1913 Id a h o R y . , L t . & P o w . o w n e d th e fo llo w in g s ecu rities o f
028*
i$t, $ 1 9 4 ,9
nfto‘
®* -ta x e s, $11 °6,11
1 9;
n * su rplu
’ s, $ 7 8 ,8 0 9 .
8 ; “n o
2 8 ; in t . &
’
i nlVl>' ? reg0nf L t ; & I ow,* D ° * : *7 1 8 .0 0 0 1st & re f. 5s. $ 8 5 4 ,0 0 0 c o n s o l.
O F F I C E R S .— P r e s ., G . T . R o g e r s ; V . - P . , G e o . W . D u n n ; A s s t. S e c .,
n rif&
% 9 1<1
in n cure<i b y S 50 0-000 c o n s o l. 1st & re f. 6 s ), $ 2 5 0 ,0 0 0 ;
W . II. H e co x ;. I r e a s .,. E . M . W h ite . O
___________
_________
ffic e , B in _________
g h a m to n ___
, N. Y
. — V . 8 8 , p re f. s t o c k , $ 2 ,1 4 8 ,4 0 0 , and c o m m o n s t o c k , $ 6 ,4 1 5 ,1 0 0 . A plan o f re^
1 . 748; V . 9 0 , p . 770; V . 9 1 , p . 275; V . 9 3 , p . 665, 1190, 1785; V . 9 4 . p . 2 0 5 ’, a d ju stm e n t and m erger o f th e Id a h o -O re g o n L t & P o w C o . w as d ra w n m
§49 1117; V . 9 5 , p . 360; V . 9 8 . p . 522 , 8 3 7 .
’
° ‘
(see V . 9 6 , p . 1091) b u t late in 1913 th e plan w as a b a n d o n e d . V . 97, p .1 7 3 6 .
R eceivership.— J u d g e D ie trich o f th e U . S . D is tr ic t C o u rt a t B o lin irtah o’
a ? 4? i C' 2 8 1913 p la ce d the p r o p e r ty In the han ds o f G e n . M g r . o ’ . G F*
BIRMINGHAM, ALA.
M a r k h u s , as re ce iv e r. T h o tr a c tio n p rop erties are o p era ted thronSv,
BIRMIN GH AM R Y . L IG H T & PO W ER .
th e Id a h o T r a c tio n C o ., as lessees fo r t h ^ f f l o ^ y . ^ i S g r t * * * ¥ 2 ^
C o n tro lle d b y th e A m erica n C ities C o . (see un d er “ N e w O rle a n s") w h ich C o - T h e tra ctio n p ro p e rtie s are thus n o t d ir e c tly a ffe c te d b y th e r e c e iv e r ­
ow n s 8 8 .8 3 % o f th e c o m m o n an d 7 9 .1 6 % o f th e preferred s t o c k .
’
s h ip , alth o u g h th e y m a y be in clu d e d later.
V . 98, p 7 3
T h e Id a h ol
O regon L t . & P o w . C o . is in th e han ds o f sep a ra te r e ceivers
au<>^
O R G A N I Z A T I O N .— C on solid a tio n o n Ju n e 13 1901 o f th o B irm in gh am
G as C o ., th e C on s o lid a te d E le c tr ic L ig h t C o . a n d th e B irm in gh am R y .
BON DSD ale.
In terest. O utstanding.
M atu ritu .
L ig h t & P ow er C o . O w ns an d operates th e greater part o f th o s treet rail­ F irst an d re fu n d in g m t g e .................
5%
$ 6 ,6 7 0 ,0 0 0
19 5 1
V
w a y , gas an d electric-lig h t an d p ow er business o f B irm in gh am an d all the UoI^ ° ^ J .n t ls t M * 5 .0 0 0 ,000t 1896
5 g A -O
1,06 8 ,0 0 0
1936
p rin cipa l n ea r-b y cities a n d to w n s. Franchises c o v e r in g ga s, ele ctric-lig h t
g ( $ l,0 0 0 )s f& su b t o c a ll.c & r /I n t . a t C o lo n ia l T r u s t C o ., P it t s b .. T ru s te e
and p ow er business and s treet ra ilw a y lines are, w ith s o m e u n im p o rta n t e x­ Boi? r n KnIL L t d f,r s t m o r tg a g e ! 1906
5%
3 89 .000 D e c 1 1936
c e p tio n s . sta ted to b e p erp etu a l. O w ns and o p era tes a stea m -h ea tin g pla n t
$ 7 5 0 ,0 0 0 ..............................— /I n t . a t G e rm a n to w n T r . C o ., P h ila ., T ru s te e
in B irm in gh am .
P R O P E R T Y . — R a ilw a ys co m p ris e 85 m iles o f track (in cl. 2 1 .3 0
STOCK A N D BO N D S—
D a te.
In terest. O utstanding.
M a tu rity
m iles in B oise) e x te n d in g fro m B oise to C a ld w e ll, B oise t o N a m p a , and
C o m m o n ($ 1 0 0 ), $ 3 ,9 0 0 ,0 0 0 ...............
J f>
$ 3 ,5 0 0 ,0 0 0 D e c ’ 1 3 .3 %
C a ld w e ll. A ls o ow n s a 5 5 0 -ft. 5-span bridge o v e r B oise
P ref($ 1 0 0 ) ,$3,9 00,000 6 % c u m ------J -D
3 .9 0 0 .0 0 0 D e c '1 3 ,3 %
n“ r, atld a 1freight term inal an d c it y passenger term inal and o ffic e bu ild in g
B irm in gh am R y & El 1st M a t 1894
5
g J -J
9 09 .000 J u ly 2 1924
l?lant on Snake R ive r a b o u t 27 m iles so u th w o st o f
$ 1 ,2 5 0 ,0 0 0 ($ 1 ,0 0 0 )____ c* In t.t. a t C en tral T r u s t C o .. N . Y . IM rm ing- B oise, Present c a p a c ity r4 ,9 0 0 k . w .; u ltim ate d e v e lo p m e n t o f a b o u t 10.200
N ot subject to call.
.Jjjj ? 1 1 r. *, &
C o . , B irm in gh a m , T r u s . k. w . See V . 94. p . 1626.— V . 91, p. 1626* V 95 d 236 480- V Qfl r>
G en M , ref, $ 1 0 ,0 0 0 ,0 0 0 ,
1904
4*4 g A -O
8 ,7 2 0 ,0 0 0 A p ril 1 1954
gold ( $ 1 ,0 0 0 ) ....................... c* L it, at C o m m e rcia l-G e rm a n ia T r . & S a v .B k ., 1826; V0298°rp167 3 : V ‘ ° 7 ’ P ' 2 9 8 ° r 299, l1 1 8 , 1 2 0 1 0 ^ 2 0 6 . 1 7 3 3 a n d m S . ’
N ew O rl., T r u s ., o r a t N .Y . T r . C o ., N .Y .
R e f & oxten M $25 ,0 0 0 ,0 0 0
1907
6 g M -N
3 ,7 4 4 ,0 0 0 M a y 1 1957
BOSTON, MASS.
( $ 1 ,0 0 0 ) gold sin k , f u n d .c * In terest at O ld C o lo n y T r u s t C o ., B o s to n ,
N ot subject to call.
tr u s te e , and N . Y . a g e n cy o f c o m p a n y .
BOSTON ELEVATED R A IL W A Y .—
D eb en tu re n otes, $ 2 ,5 0 0 ,0 0 0
1913
6 g J-J
1,100,000 J u ly 1 1915
O R G A N I Z A T f O N — C h a rte r gran ted In 1897 p ro v id e s fo r an exte n sive
( $ 1 , 0 0 0 ) .................................. c B a n k ers’ T ru s t C o ., N . Y . , T ru ste o .
I he c o m p a n y a lso . In a d d itio n t o regular stre e t
„ B on ds.— O f the , new $25, „
-000 b o n d s, $9 ,6 2 9 ,0 0 0 are reserved fo r prior system o f freo tran sfers.
liens. $ 1 ,2 0 0 ,0 0 0 for co s t o f new p ow er house if first lien o n sam e, an d re­ ra ilw a y taxes, has t o p a y % o f 1 % o f gross “ earnings o f all lines o w n e d ,
leased o r o p e ra te d b y it, and a sum equal to th o excess o f th e d iv id e n d s
m aining $10 ,4 2 7 ,0 0 0 for 8 0 % o f c o s t o f a d d ition s if net earnings are 1* 4
tim es the int. on all bon d s ou tsta n d in g , Iticl. th ose to b e issu ed, an d p ro v id e d o v e r 6 % . Its c h a rte r, h o w e v e r. Is u n d e rsto o d t o “ gran t it e x e m p tio n fro m
r e d u ctio n o f fares a n d also o th e r im m u n itie s.”
(See M assa ch u setts R R .
1 0 % o f gross earnings h a v o been expen d ed fo r m a in ten an ce w ithin previou s
E le v a te d cars run w ith e le ctr ic ity b y “ th ird 12 m on th s. T h o directors m ay m ak e the rate o f int on su cce e d in g install­ C o m m is s io n , V . 6 5 , p . 1223.)
m ents not to exceed 6 % .
Sinking fund o f *4 o f 1 % o f bo n d s o u t co m m e n ce s
iaH
sl! rfaco, J‘ » es b y tro lle y . Six m ilas o f e le v a te d ro a d o p e n e d in
Jun e 1901; in A u g . 1901 p u t In o p e ra tio n tho A tla n tic A v e . L o o p D iv is io n .
S e p t. 1 1918. B on d s p urchased to b e h e ld a liv e and in t. thereon r e in v e s te d
E xtensions.— A n exten sion o f th e e levated road to F orest H ills w as p u t in
F or details o f b on d s, p ro p e rty , & c .. see V . 8 7 , p . 1603. O f th o g e n . M . o f
1901, n o m ore bon d s can b e issued. Sinking fund o f *4 o f 1 % o f bon d s o u t o p e r a t i o n N o v . 22 1909; V . 8 9 , p . 1410. O n Ju n e 1 1912 p u t in o p e ra tio n
begins A u g. 1 192-1. T h e bon d s are sub. to call at 105 & Int. o n a n y int. th e E a st C a m b r id g e e le v . exte n sio n , e xte n d in g fro m L ech m ere S q ., E . C a m ­
d a y on 60 d a y s ’ n o tice .
For 1st 5s o f 1894 $ 12 ,500 per an n . is p a y . into b r id g e , th ro u g h th e W e s t E n d o f B o s t o n , t o N o rth S ta tio n . V . 94, p . 1565.
1903 leased from the O ld C o lo n y Street R y . (n ow m erged in
a sin k. fd . $311,000 h a v e been ca n ce le d . T h e 6 % d e b e n tu re g o ld n otes f h ° n A p « i
are red. at 1 0 1 and int. on an y Int. d a te . N o t m ore than $3 ,7 4 4 ,0 0 0 R e f. tho B a y S ta te S t. R y .) all th at c o m p a n y ’s tracks in the c it y o f B o s to n ,
& E x t. M tg e . bon d s shall b e o u tsta n d in g d u rin g life o f these n otes.
V. a m o u n tin g to 2 3 .753 m iles. T h e lease Is fo r 99 years a n d p ro v id e s th a t
97, p. 363.
E le v a te d C o . w ill p a y 6 « % o f re p la cem en t valu e
(a ppraised a t $ 3 5 3 ,9 7 9 . less th e rental o f certa in sh o rt pieces o f tra ck
D ividends .— First d i v . on p ro f, s t o c k , or 3 % , paid in Jan . 1902, an d 3 %
has been paid s. a. since th en , t o and inch D e c 1913: on c o m . s to c k in 1903.
f S " yb i« S S !£ .ord“ 0 Fcl’ ' 1 6 19® . “ d
? Z k k ln.
4,#,V ,lnc l 9 0 3 ’
>» 1906. 5 % ; in 1907 and 1908, non e: In } r o “? a . n S 3A fii JJd‘ & 5 ? >
1009. 2 % : In 1910. 5 % ; in 1911, 7 % ; In 1912. 8 % ; in 1913, J u n e , 3 % ;
D e c ., 3 % .
In D e c . 1896 th e W est E n d Street R y . leased the rig h t t o use th o T r e m o n t
R E P O R T .— F or calen d ar years:
S treet s u b w a y In B o s to n . See term s under W e st End Street R y .
Cross
N et after
Interest and
24 1904 the E ast B o sto n tunnel (under B o sto n H a rb or) w as
y™ r—
E arnl \ „
Taxes.
Olh. deductions. Surplus. 1 ° n.,
$ 1 ,1 3 4 ,0 7 9
$669,781
1 9 1 3 ................................... $ 3 ,2 1 4 ,3 3 8
$16 4,29 8 leased b y th e B oston E le v a te d R y . until Jun e 10 1922 fo r a rental o f % o f 1 %
1912 ................................... 3 .0 0 5 .8 8 8
1.213.772
597.385
616.387 o f earnings o f all lines o w n e d , leased o r o p e ra te d . T h o co m p a n y also c o l ­
1911 ................................... 2 ,8 1 9 ,5 8 6
1.120,720
554.809
56 5 .9 1 0 lects a to ll o f l c . per p erson, w hich goes to tho c it y ; b u t und er th e general
1910 .................................... 2 .6 8 1 ,9 6 0
1,120,862
547 .570
573 ,292 exten sion o f c o n tr a c ts m ade in 1911. this p rovision w ill bo e lim in ated a fte r
It extends fro m th e
1909 .............................. - 2 ,2 8 6 .3 6 9
878 .625
535,311
343.314 June 10 1922. T h e tunnel w as o p e n e d D o c . 30 1901.
m ain land to E a st B o s to n , 1.4 m iles, an d co s t $ 3 ,5 0 0 ,0 0 0 .
Passengers carried in 1913, 4 7 .6 1 0 .7 4 7 , again st 4 6 .0 0 0 ,7 8 2 in 1912.
O n Ju n o 28 1902 W a sh in g to n Street S u b w a y Dill be ca m e a la w . T h e c it y
has c o n s tr u c te d a tunnel fo r e levated trains an d leased sam e t o th o B o s to n
E le v a te d R y . fo r 25 yea rs a t an annual rental o f l lA % o f total c o s t o f c o n ­
str u c tio n , w h ich up t o A p ril 1 1914 w as $7,910,471 n et.
V . 8 8 , p . 98.
P r o p o s itio n w as ra tifie d b y voters a t D e c . 1902 ele ctio n .
V . 7 5 , p . 2 8 , 496.
1315; V . 77, p . 2097; V . 8 2 , p . 217. T h e W a sh in gton Street tunnel b egan
?n
,o v * 50 1908. V . 87, p. 1477.
In 1907 an A c t w as passed
m o d ify in g plans s o m e w h a t, an d p erm ittin g B o s to n T ra n sit C om m issio n to
rep e a le d ^ n 1 9 1 1 ^ l ° b ° k n o w n as th e R lv erban k S u b w a y , b u t this was



bXSXfUSin s ?

T"'''''h- Th0w“‘ E"d

14

ELECTRIC RAILWAYS

[Vol. XCVIII

Road Jun e 30 1913.
Subways in Cam bridge.— In Jun e 1906 a m easure w as passed b y th e M a ssa ­
ch u setts L e g is la tu r e , an d b o c a m e a la w , w h ich perm its th e B o s to n L le v . t o
M ile s .
M ile s .
co n s tr u c t t w o s u b w a y s in C a m b rid g e , a n d t o issue s to c k o r b o n d s t o m e e t
M a in 1 s t t r a c k (1 3 .3 9 9 m ." L ” )241.403 O w n e d b y W e s t E n d _________ 4 1 8 .4 8 5
th e c o s t . A t th e en d o f 20 yea rs th e c it y o f C a m b rid g e is t o h a v e th e r ig h t
M a in 2 d t r a c k (1 3 .1 7 9 m .“ L ” )2 0 7 ,5 3 2 L e a s e s ,t r V g e .& c .(3 5 .0 1 8 “ L " ) 9 2 .5 0 3
t o p u rch a se th ese s u b w a y s b y p a y in g their c o s t p lu s 7 % in te re st, less d iv i­
S id in gs, & c. (8 .4 4 0 m . “ L " ) . 62.053
d e n d s. V . 8 3 . p . 9 3 . See rem arks co n c e r n in g th ese s u b w a y s in c o m p a n y s
, „
,
T o t a l (in c l. 3 5 .0 1 8 ” L ” ) . .5 1 0 .9 8 8
r e p o r t fo r 1906, as g iv e n in V . 8 4 , P. 155. W o r k o n s u b w a y s w as L e g u n
T o t a l (in c l. 3 5 .018 m . " L " ) 5 1 0 . 988 E le c tr ic a lly e q u ip p e d ________ 5 18 .393
A u g . 12 1909. T h e c o m p a n y in 1908 file d w ith th e M a s s . R R . C o m m ,
W e ig h t o f g ird e r rails is 70 to 150 lb s . C a rs , 3 ,7 8 3 ; h orses, 237; e lectric
p relim in ary estim ates o f th e c o s t , s h o w in g an aggn sgate o f $ 1 0 ,6 3 9 ,2 7 8 . bee
m o to r s , 7 ,453; sn ow p lo w s , 286; sn ow sle d s, 620; m is c . v e h icle s , 4 6 0 .
V . 8 7 , p . 1662. O n Jan . 4 1912 th e firs t th ro u g h train w as run in th e new
O F F I C E R S .— P re s ., W illia m A . B a n c ro ft: V .- P s ., C h a rle s S . S erg ea n t
s u b w a y ; it w as op e n e d fo r p u b lic tra vel M a r . 23 1912. V . 9 4 , p . l l o o .
a
n d M a t t h e w C . B rush : T r e a s ., H e n r y L . W ilso n : S e c ., H e n ry S . L y o n s ;
N ew C onstruction o f Subways and Old Contracts to be E xtended.— In J u ly
A u d ., J . H en ry N e a l.— V . 9 4 , p . 6 7 . 1185, 1565: V . 9 5 , p . 296 , 618 . 1121,
1911 M a s s . L eg isla tu re passed an A c t (a c ce p te d b y th e c it y an d B o s t . E le v .
1272, 1400, 1402, 1606; V . 9 6 , p . 61; V . 9 7 , p . 727 , 883 , 1354; V . 98, p .
in S e p t. 1911) p r o v id in g fo r th e co n s tr u c tio n b y th e c it y o f th ree ad d itio n a l
3 8 5 , 761, 1459.
s u b w a y s v i z ., D o rc h e s te r T u n n e l, B o y ls t o n S t. S u b w a y a n d E a st B o s to n
Com panies Controlled by Boston Elevated R ailw ay C o.
T u n n e l exten sion s an d th e exten sion o f all existing co n tr a c ts u n til J u ly 1
1936 th e d a te t o w h ic h c o n tr a c ts fo r new lines are t o ru n . A n n u a l rental
(1) W e s t E n d S t r e e t R a il w a y .— A tr o lle y r o a d .
a ft e r ’ ex p ira tion o f o ld c o n tr a c ts to b e as fo llo w s: T r e m o n t S t. S u b w a y
O R G A N I Z A T I O N — L e a se d t o B o s to n E le v a te d R y . u n til J u n e 10 1922
(see u n d er W e s t E n d ) , 4 M % o n net c o s t; E a s t B o s to n tu n n el (n ow expirin g
a t 7 % o n c o m m o n a n d 8 % o n p referred in a d d itio n t o th e p a y m e n t o f
Ju n e 10 1 9 2 2 ), 4 X
A % o n net c o s t (p ro v is io n fo r tolls fro m passengers using re n ta ls, in te re st and o th e r ch a rg e s. E le v a te d assum ed possession J a n . 1
th e tu n n el elim in a ted fo r exten sion p e r io d ); W a sh in g to n S t. tu n n el (n ow
1898. S e e term s in V . 6 5 , p . 1223. C o n s o lid a tio n au th o riz e d w ith t h e
expirin g N o v . 30 193 3), 4 H % o n n e t c o s t . A n n u al rental fo r n ew lines:
B o s to n E le v a te d R y . S ee p a rticu la rs u n d er la tte r c o m p a n y .
C a m b rid g e c o n n e c tio n , fo r first 20 y e a rs , 4 % % on n e t c o s t; th ereafter 4 H % :
In D e c . 1896 leased th e rig n t t o u se th e T r e m o n t S treet s u b w a y a t 4 Vs %
o n n et c o s t; D o rc h e s te r a n d B o y ls t o n tu n n els a n d E a st B o s to n tu nnel e x - I o f its n e t c o s t , sta te d a p p ro x im a te ly as $ 5 ,7 8 6 ,0 0 0 in S e p t. 1898, w hen th e
ten sion , 4 H % o n n e t c o s t . T h e A c t also p r o v id e s th a t all co n tr a c ts are to
th ird a n d last s e c tio n w as opened. E n tir e length is 1 2-3 m iles w ith a
co n tin u e a fter J u ly 1 1936 u n til te rm in a te d b y a t w o -y e a r s ’ n o t ic e b y eith er
tra ck a g e o f a b o u t 5 m iles. See V . 6 3 , p . 1065, 1117, V . 6 7 , p . 528. S ee
p a r t y . T h e v a rio u s n ew leases an d exten sion s o f o ld leases w ere sign ed b y
B o s t . E le v . fo r exten sion o f c o n t r a c t a n d new c o n s tr u c tio n .
th e parties th ereto o n D e c . 7 1911. V . 9 3 , p . 1785.
O n F e b . 13 1913 th e M a s s . R R . C o m m , gra n te d perm ission t o Issue $ 6 0 0 ,­
T h e c o n s t r u c tio n o f th e D o rc h e s te r T u n n e l, w h ich is t o b e an exten s on
000 2 0 -y e a r 5 % b o n d s a n d $2S 0,0 00 a d d itio n a l c a p . s to c k t o re p a y th e
o f th e C a m b rid g e s u b w a y , w as b e g u n o n M a y 30 1912, an d co n s tr u c tio n
B
o
s to n E le v a te d fo r im p ro v e m e n ts . V . 9 5 , p . 1609; V . 9 6 , p . 489 , 655 .
o n th e E a st B o s t o n T u n n e l ex te n sio n w as sta rte d o n N o v . 29 1912. i t is
$ 5 6 9 ,0 0 0 o f th o $60 0 ,0 0 0 b o n d s w ere so ld in A p ril 1914 (V . 98, p . 1317)
e x p e c te d th a t th e B o y ls t o n S t. suD w ay (as fa r as th e P u b lic G a rd e n ) w ill
a n d th o $28 0 ,0 0 0 s to c k w as so ld a t a u c tio n a t $66 77 p er $50 share.
b e in s e r v ic e a b o u t O c t . 31 191 4.
•
O n F e b . 5 1914 th e M a s s . R l { . C o m m issio n sa n ctio n e d th e issue o f
D am ages by N o is e .— In A u g . 1902 J u d g e M a s o n , in th e S u p erior C o u rt
$ 2 ,0 0 0 ,0 0 0 5 % b o n d s t o refu n d th o sam e a m o u n t o f 4 H S d u e M a r c h 1 1914.
a t B o s t o n , h e ld th a t th e c o m p a n y is lia b le fo r dam ages fro m n oise ca u se d i V . 9 8 , p . 4 5 4 , 612 , 691.
b y th e o p e r a tio n o f train s.
V . 7 5 , p . 4 9 6 . T h is w as a ffirm e d A p ril 1903 :
M a tu r ity .
STO C K A N D BON DS—
In terest. O utstanding.
D a le .
b y M a s s a c h u s e tts S u p rem e C o u r t . V . 7 6 , p . 809 .
____
$ 1 3 ,0 1 0 ,1 5 0 A p r ’ 1 4 ,3 1 4
7 A -O
S trike.— T h e strik e o f c o n d u c to r s an d m o to rm e n , w h ich b e g a n Ju n e 7 |
6 .4 0 0 .0 0 0 Jan '1 4 , 4 %
8 J-J
1912, w as e n d ed J u ly 29 1912, th e c o m p a n y h a v in g agreed n o t to d lscrim i2 ,0 0 0 ,0 0 0 M a r 1 1944
1914
5 M -S
n a te b etw een u n ion a n d n o n -u n io n m e n .
V . 9 5 , p . 296.
53 9 .0 0 0
1944
1914
8 1 5 .0 0 0 M a y 1 1916
G o ld b o n d s o f 1896. $ 2 ,2 7 5 ,­ 1896
4 g M -N
W age In crea se A w a r d .— A t m id n ig h t Jan . 15 1914 th e b o a r d o f arb itra tors
000 n o t m o r tg a g e ---------n t f
g ra n te d th e c o m p a n y ’s ca r m e n an Increase o f w a g e s, re tro a ctiv e t o M a y 1
G o ld b o n d s o f 1897, $ 2 ,7 0 0 ,­ 1897
2 .7 0 0 .0 0 0 F e b 1 1917
4 g F -A
1913, also sh orter h o u rs , & c. F o r su rfaco ca r m e n th e a d v a n c e In m a x im u m
0 6 0 n o t m o r tg a g e — c . n t f
ra te p er h ou r is fro m 28 .9 to 32 c t s . , e le v a te d m o to rm e n fro m 3 6 .3 t o 34 c t s . ,
1900
C u rr e n c y b o n d s ($ 1 ,0 0 0 ) n o t T------4--------F -A
4 .7 4 3 .0 0 0 A u g 1 1915
& c . T h e a w a r d , it is s a id , w ill c o s t th e c o m p a n y a b o u t §3 0 0 ,0 0 0 th o fir s t
m o r t g a g e .......................c n t f In terest a t O ld C o lo n y T r u s t C o . , B o s t o n .
y e a r , $ 4 0 0 ,0 0 0 th e 2d a n d $ 5 0 0 ,0 0 0 t h e 3d y e a r . V . 9 8 , p . 385 . O n a c ­
B onds
($ 1 .0 0 0 ).............c * . n t
■ ■
_ 1932
1902
4 F -A
5 ,7 0 9 ,0 0 0 A u g 1
c o u n t o f th is aw ard th e c o m p a n y re d u ce d its d iv id e n d ra te fro m 6 %
B
o
n d s ( $ 7 0 0 ,0 0 0 ) - .- c & r . n t f
1908 4 H J-J
7 0 0 .0 0 0 Jan 1 1923
a n n u a lly t o 4 % .
B o n d s ($ 1 ,0 0 0 ).............c & r . n t f
1910 4 K J-J
1 ,0 0 4 ,0 0 0 J u ly 1 1930
Con solidation with W est End Street R y .— I n J u ly 1911 M assa ch u se tts
B o n d s ...........................................n t f 1912 5 M -N
60 0 ,0 0 0 N o v 1 1932
L egisla tu re passed an A c t (signed b y th o G o v e r n o r o n J u ly 21 1911) su p e r- <
Bonds.— W ith th e e x ce p tio n o f 1900 issue (n o te d a b o v e ) , Interest on all
sedin g th a t a p p ro v e d M a y 28 1908 ( V . 8 6 , p . 917 . 134 2), pe rm ittin g th e 1 issues Is p a y a b le a t A m e rica n T r u s t C o . , B o s to n .
c o n s o lid a tio n o f B o s to n E le v . a n d W e s t E n d S t. R y . a t th e expiration o f ,
O F F I C E R S .— P r e s ., Jo se p h B . R u ssell; T r e a s ., P a rk m a n D e x t e r .—
th e p resen t leaso, o n J u n e 10 1922. 8 % c u m . 1st p r e f. s to c k o f C o s t . E le v .
(h a v in g th o ord in a r y v o tin g p o w e r s. b u t n o t ‘ ’ e n titled to p a r ticip a te in a n y , V . 9 6 , p . 489 , 655; V . 97, p . 1505, 1585, 1735; V . 98, p . 7 4 , 238 , 4 5 4 , 6 1 2 ,
6 9 1 , 124 6, 1317.
in crea se or issue o f now s t o c k , c o m . o r p r e f.” ) , t o b e issu ed. $ fo r $ , fo r W e s t
E n d p r e f. a n d 7 % c u m . (o r 8 % i f a rb itra to rs so d ecid e) 2d p r e f. (h avin g
(2) S o m e r v ille H o r s e R R .
all v o tin g p ow ers w ith o u t e x ce p tio n ) fo r c o m . s to c k o f W e s t E n d . A fte r
O w ns 8 .0 3 m iles o f tr a c k . L ea sed to W e s t E n d S treet R y . fo r $ 9 ,1 8 0
th o issue o r th e new p re f. shares n o o th e r s to c k t o b e Issued “ p rio r o r e qu a l y e a rly — 6 % o n $ 15 3,00 0 s t o c k . D iv id ends are p a y a b le M . & N . in B o s t o n .
to su ch 1st p r e f. a n d 2d p re f. s to c k w ith o u t th e co n se n t o f tw o -th ird s o f th e
h old ers o f s u ch s to c k s , r e s p e c tiv e ly .”
T h e A c t a lso p ro v id e s th a t th e S treet
B O S T O N S U B U R B A N E L E C T R I C C O M P A N I E S .— A tro lley s y s te m .
R y . shall fo rth w ith sell t o th o E le v . C o . a ll u nu sed real e sta te , th e p ro ce e d s
n o t exceed in g $ 1 ,5 0 0 ,0 0 0 t o b e Invested as a sp ecial tru st fu n d an d t o a c c u m ­
O R G A N I Z A T I O N .— T h is c o m p a n y is a v o lu n ta r y asso cia tio n fo rm e d in
u la te u n til J u n e 10 1922. T h e re a fte r th e ann ual In com e t h e r e o f shall b o N o v . 1901 o n th e sa m e lines as th e M a s s . E le c tr ic C o m p a n ie s . C o n ­
a p p lied t o c a n c e lla tio n o f 2d p r e f. s to c k . W h e n all th e 2d p r e f. has b e e n
trols th ro u g h s to c k ow n e rsh ip th e M id d le s e x & B o s to n S treet R y . (in to
retired than said fu n d shall b e a p p lie d b y th e E le v a te d R y . C o . t o a n y
w h ich th e N a tic k & C o c h itu a te S t. R y . , th e W e s tb o r o & H o p k in S t. R y . .
D urpose fo r w h ich s to c k an d b o n d s can legally b e Issued. See term s o f A c t
th e N e w to n & B o s . S t. R y . , th e N e w to n S t. R y . an d th e L e x . & B o s to n S t .
n V . 9 3 , p . 3 4 4 . Sha reh olders o f b o th th e B o s to n E le v . a n d W e s t E n d S t.
R y . h a v e be e n m e r g e d ). In 1902 pu rch a sed N o ru m b e g a P a rk an d L ex in g ­
R y . a p p r o v e d th e A c t ; th e fo rm e r on A u g . 24 1911 a n d th e la tte r o n S e p t. 6 to n P a rk . In 1908 M a ssa ch u se tts R R . C o m m , su stained a c tio n Increasing
1911. V . 9 3 , p . 666 . H old ers o f W e s t E n d c o m . an d p r e f. s to c k m a y on
fares o n several o f th e su b sid ia ry lines fro m 5 t o 6 ce n ts .
V . 8 7 . p . 345 .
o r b e fo r e J u n e 1 0 1 922 e x ch a n g e th eir s to c k a t p a r fo r E le v a te d R y . c o m m o n .
H as a c q u ir e d fre ig h t rights in several o f th e to w n s a lo n g Its lines.
A ft e r J u n e 10 1922 h o ld e rs o f B o s t . E le v . 1st o r 2d p r e f. m a y e x ch a n g e
S T O C K .— Shares h a v e n o p a r v a lu e , b u t in ca s e o f liq u id a tion th e p re­
th eir s t o c k fo r an eq u a l a m o u n t a t p a r o f B o s t . E le v . c o m m o n .
O n S e p t. 5 1911, in a s u it b r o u g h t t o te st th e co n s titu tio n a lity o f th e ferred sh a reh old ers w ill b o en title d to $ 10 0 p er share, w ith a c c r u a l d iv id e n d s ,
th e c o m m o n shares p a rticip a tin g p r o ra ta In th e rem ain in g assets. (S e e
M e r g e r A c t , J u d g e C o lt in U . S . D is t r ic t C o u r t su stain ed th e d e m u rre r o f
V . 7 3 . p . 1159, 1263.)
In 1904 15,635 shares o f preferred an d 15,635 sh ares
t h e W est E n d S t. R y . an d dism issed th e su it t o p r e v e n t th e m e rg e r. V . 9 5 .
o f c o m m o n w e re o ffe r e d t o shareholders a t $66 67 fo r o n e share o f p ref. an d
p . 6 1 8 . N e w su it b r o u g h t b y a W e s t E n d sh areh old er in F ra n ce o n D e c . 31
o n e sh a re o f c o m m o n Join tly . L isted o n B o s to n S to c k E x c h . in A p r. 1905.
191 3. See V . 9 8 . p . 74.
O n M a y 22 1913 th e sto ck h o ld e rs a u th o riz e d th e ca n ce lla tio n o f th e 32 ,3 8 7
T h e M a s s . P . S . C o m m , in M a y 1914 w as asked t o sa n ctio n an issue o f
shares o f c u m . p r e f. s to c k o u tsta n d in g a n d th e Issue o f n o te s in p la ce o f
$ 1 ,0 0 0 ,0 0 0 b o n d s o n a c c o u n t o f c o n s tru ctio n an d e q u ip m e n t. V . 9 8 , p .1 4 5 9 .
sam e, h o ld e rs h a v in g th e o p tio n o f ta k in g cash o r n o te s fo r their s t o c k .
STO CK A N D BO N DS—
D a te . In terest.
Outstanding.
M a tu rity .
V . 9 6 , p . 1487.
S t o c k , $ 2 3 ,9 5 0 ,0 0 0 ($ 1 0 0 )..................F -A
$ 2 3 ,8 7 9 ,4 0 0 F e b ’ 1 4 ,2 %
D a te.
In terest. O utstanding.
M a tu r ity .
D e b e n tu r e s , g o l d ____ c & r . n t f / 1905 4 g M -N
8 ,5 0 0 ,0 0 0 M a y 1 1935 C o m m o n s t o c k ________________ ______
___________ 5 0 ,296 s h .
------------------.
(O ld C o lo n y T r u s t C o . , B o s t o n , R e g is tra r.
P re fe rre d s t o c k , $4 per sh , c u m .
q .j
3 2 ,387 s h . A p r .1 5 ’ 14,$1
D e b e n t u r e s ,g o ld ______ c & r . n t f 1907
A -O
4 ,8 0 0 ,0 0 0 O ct 1 1937
C oupon
n o te s , $ 2 ,0 0 0 ,0 0 0 1909
4 J -D
1 ,1 0 0 .8 0 0 D e c 1 1 9 1 9
D e b e n t u r e s ,g o ld ____c * & r * . n t f 1911 4 H M -N
5 ,0 0 0 ,0 0 0 N o v 1 1941
($ 1 0 0 , $500 a n d $1 ,0 0 0 ) — (In te r e s t a t B o s to n S afe D e p o s it & T r u s t C o .
D e b e n t u r e s ,g o ld ____c * & r * . n t f 1912 5
J -D
4 ,0 0 0 ,0 0 0 D e c 1 1942
............ ...............................
9 yea rs
N o te s $ 2 , 0 0 0 . 0 0 0 - - - - - - ............... - - N otes.— T h e 1909 n o te s are n o t sp e cia lly se cu re d , b u t are sim p le o b lig a ­
B on d s.— T h e c o u p o n b o n d s a re in d e n o m in a tio n s o f $50 0 a n d $ 1 ,0 0 0
tio n s o f th o a s s o c ia tio n , s u b je c t t o call o n a n y Interest d a te o n 60 d a y s '
(e x c e p t 1911 issu e, w h ich are fo r $ 1 ,0 0 0 o n l y ) , an d registered b o n d s o f all
n o tice a t 105 b e fo r e D e c . 1 1914; th e re a fte r a t 1 0 2 H - V . 8 9 , p . 1068.
issues are in d en om in a tio n s o f $ 1 ,0 0 0 , $ 5 ,0 0 0 , $ 1 0 ,0 0 0 a n d $ 5 0 ,0 0 0 .
R O A D .— C o m p a n ie s o w n e d an d co n tro lle d o p e r a to in th o ag g reg a te a b o u t
In D e c . 1908 th e M a ssa ch u se tts R a ilro a d C o m m issio n s a n c tio n e d
131 m iles o f tra ck fro m N e o lh a m o n th e so u th t o L o w e ll on th e n o r th , and
$ 6 ,6 5 0 ,0 0 0 a d d itio n a l s to c k (raising s to c k t o $ 1 9 ,9 5 0 ,0 0 0 ) a t $11 0 p e r sh are,
t o d e fr a y th e c o s t o f th e C a m b rid g e s u b w a y a n d fo r th e c o n s tr u c tio n o f th e c o n n e c tin g a t fiv e p o in ts w ith th o track s o f th e B o s to n E le v a te d R y . A t
W e s tb o r o co n n e c tio n is m a d e w ith th o W o rce ste r C o n s o lid a te d .
E a s t C a m b rid g e a n d W e s t E n d e le v a te d lin e s. V . 8 7 , p . 1662; V . 8 8 , p .
D ivid en d s.— F irst o f $1 o n preferred p a id A p ril 1902; also $1 J u ly 1902
137 2. In D e c . 1912 in crea sed its s to c k fro m $ 1 9 ,9 5 0 ,0 0 0 t o $ 2 3 ,9 5 0 ,0 0 0
a n d o ffe r e d s to c k h o ld e r s th e rig h t t o s u b s crib e fo r new s to c k a t $ 10 5 p e r an d $1 O c t . 1902. In 1903, $4; in 1904, $2 50; in 1905, $2; in 1906. $2 7 5 ;
in 1907. $ 3 . J a n ., A p ril an d J u ly 1908 d lv . passed . In O c t . 1908 d lv s .
sh are. V . 9 5 , p . 1272; V . 9 6 , p . 6 1 . A ls o Issued $ 4 ,0 0 0 ,0 0 0 3 0 -y e a r b o n d s
In
fo r c o n s t r u c tio n , e q u ip m e n t, fu n d in g flo a tin g d e b t , & c . V . 9 5 , p . 1272, re su m e d , an d p a id V5 c e n ts . In 1909, $ 3 . In 1910 t o 1912, In cl., $ 4 .
1913, J a n ., $1; A p r il, $ 1 ; J u l y , $1; O c t ., $ 1 . In 1914, J a n ., $1; A p r il, $ 1 .
1606.
A rrears o f d iv id e n d s t o A p r J 1 1914, $10 .
D ivid en d s.— F irst d l v ., 2 X % . w as p a id A u g . 15 1898. In 1899, 5 H % ;
R E P O R T .— F o r y e a r en d in g Jun e 30 1913. I n c o m e , g ro ss, $1 8 1 ,2 4 7 ;
in 1900, 4 H % ; in 1901, 5 h % : in 1902 t o 1913 in c lu s iv e , 6 % y e a r ly ; in
n e t , $ 1 3 2 ,8 4 5 ; d iv id e n d s . $ 1 2 9 ,5 4 8 ; su rp lu s. $ 3 ,2 9 7 .
1914 ra to w as re d u ce d a n d in F e b . 2 % w as p a id .
O F F I C E R S .— P ro s ., A d a m s D . C la flln ; V . - P . , S y d n e y H a rw o o d : T r e a s ..
A N N U A L R E P O R T .— R e p o r t o f B o s to n E le v a te d R y . fo r y e a r e n d in g
C h as. W . S m ith ; S e c ., A . A . B a llan tln e; A s s t. T r e a s . , G . M C o x — V . 9 0 , p .
J u n e 3 0 1913 in V . 9 7 . P- 1354
Y ea r end.
Y ea r end.
Y ea r en d . 9 M o s . en d • 53; V . 9 1 , p . 3 7 ; V . 9 4 , p . 281: V . 95. p . 817, V . 96, p . 1487; V . 9 7 . p . 4 9 .
(1 ) M i d d l e s e x & B o s t o n S t r e e t R y . — T r o l l e y .
J un e 3 0 ’ 13. Jun e 3 0 '1 2 . Jun e 3 0 ’ 11. Jun e 3 0 ’ 10.
R e v e n u e m iles r u n .......... 5 7 ,7 8 4 ,3 1 9
5 4 ,7 9 0 ,1 7 3 5 4 ,6 4 7 ,1 9 6 3 9 ,2 9 6 ,5 2 2
O R G A N I Z A T I O N .— O rga n ized in 1907 an d to o k o v e r th e S ou th M id d le ­
R e v e n u e pass, c a r r ie d - 3 2 6 ,3 5 2 ,8 6 3 3 1 0 ,3 1 0 ,0 0 9 3 0 5 ,0 9 8 ,6 6 5 2 2 0 ,1 2 7 .8 9 0
sex Street R y ., so ld a t re ceivers sa le J u ly 1 1907, and has sin ce a cq u ired
a n d m erged th e W e s tb o r o u g h & I lo p k in to n S t. R y ., th e N a tic k & C o c h it u ­
E a tn in gs—
$
•$
$
S
a te S t. R y . (V . 8 7 , p . 1 4 2 0 ), th e N e w to n S t. R y . (in to w h ich W a lth a m S t.
P a s s e n g e r . . ....................... 1 6 ,2 6 8 ,6 0 7
1 5 ,4 6 7 ,3 5 2
15.199,971
10,984.441
R y . h a d been m e rg e d , an d w h ich h a d acqu ired^ C om m on w ea lth A v e . S t. R y .
M a ils , ren ts, a d v ., & c _ .
5 4 0 .3 0 2
4 3 6 ,6 9 5
4 3 5 ,9 9 4
26 1 ,1 8 2
an d W e lle s le y & B o s to n S t. R y . ) . V . 8 9 , p . 778 , a n d th e N e w to n & B o s to n
S t. R y . ( V . 8 9 , p . 9 9 3 ). O n M a y 9 1912 M a ss. R R . C o m m ission gra n ted
15 ,9 0 4 ,0 4 7
11 ,2 4 5 ,6 2 3
T o t a l ................................. 16 ,8 0 8 ,9 0 9
1 5 ,6 3 5 ,9 6 5
perm ission t o a b s o r b b y co n s o lid a tio n th e ^ i n g t o n & B o s to n S t. R y . and
4 ,9 2 7 ,4 1 3
5 .6 7 3 .3 2 8
5 ,5 1 6 .9 0 1
3 ,9 2 4 ,2 2 6
N o t earnings------------------issue $ 5 2 5 ,0 0 0 s to c k In e x ch a n g e $ fo r $ fo r s to c k o f a b so rb e d co m p a n y ;
5 0,419
5 2,508
3 9 ,0 7 0
138 ,064
I n t . o n d e p o s it s , & c ------6 9 ,4 6 0
6 9 ,4 6 0
2 4 ,180
I n t . fr o m secu re, ow n e d .
V 'O n Aug.^PlO O S M a s s . R R . C o m m issio n g a v o a d ecision su stain in g N e w ­
34,141
4 9 6 ,5 2 7
I n t . ch a rged t o con stru e.
28 1 ,4 9 2
135 ,998
to n S t. R y . ’s rig h t t o ch a rge 6 -ce n t fares an d t o ch arge o n e cen t extra
5 ,4 0 0
M is c e lla n e o u s ___________
(b e y o n d th e o rd in a r y 5 cen ts) fo r ^ P ^ ]^ " * fFr ’ ®fued. See V. 8 7 . p . 345.
In A u g . 1909 C o m m , gra n te d th o M id d le se x & B o s to n th o rig h t (fo r an ex­
5
,8
3
2
.7
4
8
5
,5
4
5
,9
0
8
5
,8
6
1
.6
4
3
4
,1
9
8
,2
8
8
T o t a l .................................
p erim en ta l p e rio d o f o n e y e a r) t o ch a rge o n e c e n t extra (b e y o n d th e regular
D eductions—
o cen ts) fo r each transfer Issued, in A u g . 1910 p rivilege w as con tin u ed fo r
7 6 2 ,6 1 0
72 5 ,5 9 3
716 ,180
In t. on W est E n d d e b t ..
51 0 ,1 3 5
a n o th e r y ear and in A u g . 1911 priv ile g e was again exten d ed and is s till
(6 1 3 ,8 3 9
9 8 6 ,6 8 0
4 6 8 ,0 3 2
T a x o s , W e s t E n d ...........1
6 62 ,261
in fo rc e .
1454,759
34 2 ,4 1 8
T a x e s , B o s t o n E lo v — J
4 3 7 ,4 6 2
STOCK AN D BON DS—
D a te.
In terest. O utstanding.
M a t u r it y
T a x e s on earnings and
153,159
a l i i , 342
145,109
106,239
. $ 1 ,9 8 7 ,0 0 0 In 1913. 4 ‘
S to c k , $ 1 , 9 8 7 . 0 0 0 .. . ............. ..
U . S. c o r p o r a tio n t a x .
185,740
4 4i g J-J
i;4 '0 8 ;0 0 0 Jan 1 1 9 3 18 8 ,0 6 8
185,305
138 ,623
F irst a n d rer M , $5,000,000. 1912
R e n ta l o f s u b w a y ----------1 ,3 8 7 ,7 1 0
I n t . a t B o s to n S afe D e p . & T r . C o . , trustee.
1,39 2 ,9 6 9
1 ,3 5 8 ,8 4 8
96 7 ,8 0 8
D lv s . o n W e s t E n d s to c k
g o ld ($ 1 ,0 0 0 )...................... c
9 ,1 8 0
1896
5 g F -A
7 5 ,000 F e b 1 1916
9 ,1 8 0
9 ,1 8 0
D Iv s . on S o m . H ors e R y .
6 ,885
C o m m o n w e a l t h A v e 1 st m t g o
5 6 ,529
5 6 ,0 4 0
R e n t. O ld C . S t. R y .,& c .
59,054
3 6 ,2 7 8
$ 7 5 ,0 0 0 ($500) g o ld ------ c* I n t . a t In te rn a t. T r . C o ., B o s t o n , trustee.
7 0 6 ,0 0 0
1900
4 H g A -O
5 00 .000 J u ly 1 1 9 2 0
8 87 ,807
I n t .o n B o s .E l.fu n d .d e b t
55 6 ,0 0 0
L e x & B o s t 1st M , $5 0 0 ,0 0 0 ,
4 1 7 ,0 0 0
131,033
2 0 7 ,7 0 0
______________________
I n t . o n u n fu n d ed d e b t . .
g ( $ 1 ,0
0 0 ) ,ca lla b le 1 0 5 ..C * In terest a t B e a co n T r u s t C o . , B o s to n , tru s tee
3 4 0 ,5 0 0
37 0 ,2 5 6
324',666
2 5 5 ,0 0 0
C u rre n 1 1Fabi’lities Ju n e 30 1913- - - - - - - - - - - - - .......... 1 ,3 4 4 .588 - - ...........- - W a s h ’ t ’ n S t. tu n n el rent
5 8 ,782
6 0 ,5 7 5
Bonds.— O f th e 1st & re f. b o n d s , $ 7 5 ,0 0 0 , are reserved t o retiro un d er­
57,783
E a s t B o s to n tu n n el ren t
4 1.674
18,204
ly in g b o n d s and $ 3 ,5 1 7 ,0 0 0 are fo r a d d ’ ns, e x te n . a n d lm p ts . C a lla b le on
6 8,409
C a m b ’d g e C o n n e c t, ren t
a n y in t . d a y o n 30 d a y s ’ n o t ic e as fo llo w s: Jan . 1 1917 t o J u ly 1 1921, in c l.,
5 ,1 3 2 ,1 2 5
4 .8 4 0 ,5 3 9
4 ,5 1 1 ,1 8 2
3 ,2 9 0 ,0 9 2
a t 107M and in t.; Jan . 1 1922 to J u ly 1 1926 in c l., a t 105 an d in t.; Jan . 1
T o t a l d e d u c t io n s ------7 0 0 .6 2 3
70 5 ,3 6 8
1,35 0 ,4 6 1
9 08 ,196
1927 t o J u ly 1 1931 In c l., a t 102 H an d Int. V . 94, p . 351.
B a la n c e --------------------------1 ,1 9 7 ,0 0 0 (6 )1 ,1 9 7 ,0 0 0 ( 6 )1 ,1 9 7 .0 0 0 (4 ^ )8 9 7 ,7 5 0
D i v i d e n d s ___________ (6)
E A R N I N G S .— F o r y e a r e n d in g Ju n e 30 1913, gross, $ 94 1,23 5: n e t, a fter
taxes, $ 2 4 3 ,2 6 9 ; ch a rges, $ 16 3,34 3: d lv s . ( 4 % ) , $79 ,4 8 0 ; su rplu s, $446.
B a la n ce fo r y e a r ______d e f.4 9 6 ,3 7 7 d e f.4 9 1 ,6 3 2 su r.1 5 3 ,4 6 1 su r. 10,446
R O A D .— O w ns 9 5.904 m iles o f tra ck in N e w t o n . W a lth a m . W a te r ­
to w n , N a t ic k , W e lle s le y , F ra m in g h a m , H o p k ln t o n , N e e d h a m , W e s t b o r o ,
a N o U n ite d S tates c o r p o r a tio n ta x In clu ded in 1913 ,




may,

1914.]

ELECTRIC RAILWAYS

Sberburn, W aylan d, Belm ont and Ashland, connecting with the Worcester
Consolidated Street R y ., the Boston Elevated lty . (at 4 points), &c.
Forms a link In a through line from Boston to Worcester. Also owns 32.356
miles of track, leases 0.745 mile; total, 33.101 miles, extending from Arling­
ton Heights (terminus o f Boston E lev. system ) through Lexington and Bed­
ford to Billerica, where cars go through to Lowell without change, and also
to the Sullivan Square, Charlestown, station o f the Boston E lev. R y ., with
branches to W altham and to Concerd. T otal track owned. 128.254 miles.
264 pass, and 14 work cars; 26 snow plows and sweepers. 60 to 75-lb. T
and 95-lb. girder rails.—-V . 8 9 , p . ’778, 993; V . 93. p. 731, 1787; V . 94, p.
207, 351. 1317; V . 97. p . 237.
A 1A SS A C H U S E T T S
(See M a p on page 17.)

E L E C T R IC

C O M P A N IE S .— Street

railways.

O R G A N I Z A T I O N .— Formed In M a y 1899. Is not an incorporated
com pany, but a voluntary association managed by a board o f fifteen trus­
tees, who hold the title to its assets. The trust runs for 21 years, or until
June 29 1920, at which time the affairs o f the Association are to be liqui­
dated (the pref. shares having a first claim upon the assets for $ 1 00 per sharo
together with all unpaid accumulations o f dividends) unless prior to that
tim e, at a meeting called for that purpose, two-thirds o f the shares then out­
standing shall vote to continue its existence. V . 97, p. 1823. M essrs. E .
Rollins M orse & B r. and Tucker, Anthony & C o. o f Boston, who pro­
moted the combination, in Juno 1899, in offering some of the stock for pub­
lic subscription ($ 1,000 of pref. and $500 com . was offered for $ 1 ,0 5 0 ),
stated that “ the Declaration of Trust contains strict provisions against the
creation of any indebtedness whereby any shareholder or trustee can be held
to any personal liability.” Comprised originally between 30 and 40 sep­
arate properties, but through consolidation there Is now only one operating
com pany, nam ely, the Bay State St. R y ., whose entire common stock is
owned by tho Massachusetts Electric Cos. The H yde Bark Electic L t. C o .,
formorly owned, was sold on Jan. 3 1912 to Edison Elec. Ilium . C o . o f Bos­
ton, but in M ar. 1912 the Bay State S t. R y . bought back tho power station.
The system comprises electric street railway lines in 22 cities and 69
towns in Eastern Massachusetts and New Hampshire and Rhode Island,
covering the greater part of tho street railway mileage north o f Boston
as far as Nashua, N . II., and Newburyport and Gloucester, M a ss., and
south as far as Fall River and Now Bedford, M a s s ., and New port, It. I .,
connecting directly with the street railway system of Boston' also an electric­
lighting property in N ew port, It. I.
P a ym en t o f A c c ru e d D iv s . o n P re f. Stock.— On Jan. 5 1912 pref. share­
holders were offered $3,649,000 in negotiable warrants for additional nref
stock, to represent accn,ed dividends of 1 7 H % on pref. shares. N ew pref.
shares Issued July 1 1912. V . 93, p. 1462; V . 94, p. 6 8 .
*
On March 4 1913 the shareholders auth. the trustees to sell and dispose of
any or all tho pref. shares of the Bay State St. R y . which they might acquire
during the year 1913 and to pledge certain shares of that com pany’s stock
due6JuFy' 1
^vy r 9
7° 6^ 0n notcs *ssue<I t0 refund In part the notes
S T O C K A N D B O N D S .— The share capital is represented by certificates
ot participation which give the owners a proportionate interest in the shares
held by the trustees. Both classes of shares are reported exempt from taxa­
tion in M assachusetts. C om . stock and stamped pref. stock listed on'
Boston Stock Exchange. The balance sheet o f the contro lle d B ay Slate St. Ry.
shows funded debt June 30 1913, $ 23,106 ,000 , and notes for amounts due
M ass. Elec. C o s., $1,450,000.
O u ts ta n d in g .
D a le .
Rate.
D iv id e n d s .
Common
stock,
par $100
$14,293 ,100
( $ 1 4 ,2 9 3 ,1 0 0 ) _________
Pref. stock, par $100 4 %
4 J-J
2 4,123,162 Jan T 4 , 2 %
cum ($ 2 4 ,2 0 6 ,4 0 0 )_______
|
Coll trust coupon notes, gold 1913 5 g M - N
3,10 0 ,0 0 0 M a y 1 1915
($1,000)
$ 3 ,5 0 0 ,0 0 0 - c * C p t Old Colony Trust C o ., Boston, Trustee.
________ _______________
The 1913 coupon notes are secured by a majority of the common stock
of the Bay State St. R y. V . 96, p. 1298. Red. on any int. date on 30
days’ notice at a price at which the note, if held to m aturity, would net tho
holder 3)4 % per annum; int. computed semi-annually.
R E P O R T .— Report for the year ending Sept. 30 1913 (see ’ ’Chronicle”
D ec. 13 1913, p. 1730), shows receipts from divs., $ 1 ,1 3 3 ,2 9 3 ; from int. on
nptes. & c . . 371,433; total $1 204,726; expenses, $32,451 ; in t., $171,561;
di v.s ^ ; ? 9 5S , 2 5 6 L surp” ;H 2 -458: prov- surb - 3 2 ,7 6 1 ,8 1 0 ; total su rp .,$2,794,268; from this was deducted $47,269 net debits, leaving surplus Sept.30
i9 io ,
»74 d
y•
„
dIY - pnT ref- stock. 2 % . was paid D ec. 1 1899; also
2 % Juno 1 1900. D iv . period then changed to J&J and 2 1 -3 % paid Jan.
1901; July 1901, 2 % ; in 1902, 4 % ; in 1903, 4 % ; in 1904, 4 % . The Jan.
1905 dividend was passed and none paid until Jan. 1909, when 1 % paid;
July, 1 & % .
See Y 79, p. 2642. 2456; V . 8 5 , p . 1646; V . 8 7 , p 1420
and V . 89, p. 1597. In 1910, 3 % % .
In 1911, 4 % .
In 1912, i a n ., 2 % ;
July, 2 % .
Seo above for payment of accrued divs. of 1 7 M % .
In 1913.
4 % . In 1914, J an ., 2 % .
R O A D , & c.— The Bay State S t. R y. owns;858.827 miles and leases 65.909
miles, a total of 924.736 m . of main line; owns and operates 2,063 cars.
Power capacity 49 engines 43 775 h .p ., and 53 generators, 29,755 k .w .;
9 turbines, 18,600 h .p . and 12,500 k .w .
O F F IC E
.— Pres.
ER
RS
S.—
Pres., Gordon A b bott; V .- P ., Charles E . Cotting; Sec.,
Everett Wr. Burdett; T reas., J. I I . Goodspeed; Gen. M g r ., P. F. Sullivan;
G en. Auditor
_
| om
_____
_
_______
________
itor, II. II. Read. Executive
C
m ittee: Philip
Dexter.
Chairman; Gordon A b b ott, Charles Francis Adam s 2d, Galen L . Stone, Percy
Parker, Philip L . Saltonstall and Charles E . Cotting. Office, 84 State S t.,
Boston. V . 92, p. 1 1 8 ,1 1 8 1 ,1 5 0 0 ; V . 9 3 , p. 105, 1462.
1787; V . 9 4 ,
p . 6 8 ; V . 95, p. 6 18, 750, 1123, 1403,
V . 96, p . 230, 653, 716, 1089,
1298; V . 97, p . 1662,
1823; V . 98, p . 1460.
(1) Bay S ta te S tre e t R y .— A n electric road.— (See M a p on page 16.)
O R G A N I Z A T I O N .— This was the Lynn & Boston R R . (incorp. in M ass.
April 6 1859), but on July 23 1901 name changed to Boston & Northern
St. R y . and on A u g. 8 1911 name was again changed to present title. The
following companies have been absorbed from time to timo. The latest of
theso absorptions was in June 1911, when the Bos. & N or. took over the
Old Colony and Issued 7,767 shares of pref. and 80,041 shares of com in
oxchange for like amount o f Old C ol. Street R y . stock.
Beverly Sc Danvers.
M ystic Valley.
Boston M ilton & Brockton.
Needham & Boston.
Braintree Sc W eym outh.
Now Bedford M iddleb. & Brockton.
Brldgew. W hitm an Sc Rockland.
Norfolk Central.
Brockton Brldgew. & Taunton.
Norfolk Suburban.
Brockton & East Bridgewater.
North W oburn.
DIghton Somerset & Swansea.
Old Colony Streot R y.
East Side Brockton & Holbrook.
Providence & Taunton.
G corgotow dRow ley & Ipswich.
Quincy & Boston.
Globe Street R y.
Reading & Lowell.
Gloucester Essex & Beverly.
Reading Wakefield & I-ynfield.
Gloucester & Rockport.
Rockland & Abington.
Gloucester Street R y .
Rockport Street R y.
Hanover Street R y.
Salem & W akefield.
Haverhill Sc Andover.
South Shore & Boston.
Haverhill Georgetown & Danvers.
Taunton & Brockton.
Illngham Street R y.
Taunton Street R y.
Lawrence & Reading.
Wakefield & Stoneham.
Lowell & W oburn.
W est Roxbury & Itoslindale.
Lowell Lawrence Sc Haverhill.
W hitm an Street R y.
Lowell & Suburban.
Woburn & Reading.
Middleton & Danvers.
In 1907 obtained permission to do a freight business in a majority of the
towns along Its lines south of Boston, and is now handling express and freight
by trolley over a considerable percentage of this track.
In Sept. 1911
Mass. R R . Commission granted authority to carry coal in car-load lots or
less in Dracut, M ethuen, Middletown and North Andover.
In Sept. 1912 signed a contract by which the Boston Elevated will take
the com pany's express cars and bring them into Boston over the former’s
lines to a freight terminal near the Albany power station.
V . 9 5 p 1123
D e cisio n re g a rd in g c a rry in g c h ild re n f o r h a lf- fa re .— In M a y 1912 the full
bench of M ass. Supreme Court sustained the constitutionality of Chap. 576,
Acts of 1911, providing that street railways shall carry school children un­
der 16 years or age for half fare. V . 94, p. 1507.
Lease.— In 1903 the Boston Elevated R y. leased all ot tho track of the
former Old Colony Street R y . (now a part of the Bay State St. R y ) In
tho city of Boston for 99 years. The loase provides for tho payment of all
taxes and also 6 H % on replacement value (appraised at $ 3 5 3 , 9 7 9 , less the
rental o f certain short pieces of track appraised at $13,866) of property
leased as of date Feb. lo 1903. and 4 % on all additions and betterments.




1730,

1537;

1597,

15

STO C K S A N D B O N D S—
D a te . In te re s t.
O u ts ta n d in g . L a s t d iv ., &c
Stock common (par $ 10 0 ) ............................................ $20,517 ,200 D ec’ 13, 3 %
F -A
2 ,748,600 Feb ’ 1 4 .3 %
1st pref ($ 1 0 0 ) 6 % c u m ------------------Serial notes, $ 2 ,0 0 0 .0 0 0 c .n t f / 1912 5 F -A
1,975.000
See text
„
.
,
,
[Interest st American Trust C o ., Boston.
B 'non ^ I w . A 5 15!000' ' 1 9 0 1
4 « J-J
7.44 5 ,0 0 0 iu ly 1 1954
u u u , 8UIU
. i l ,UVUJ - C
I
000,
gold ($1,000)
c *’ -_. nn tttf (In
t. at American Trust C o ., Boston, Trustee.
Lynn & Boston 1st m tge, ~
g. 1894 5 g J -D
3 ,723.000 D ec 1 1924
„ $ 5 ,379,000 ($1,000) c * _ n tf Int. at Ola Colony T r. C o ., Boston, Trustee.
G R & I 1 st mtge (81,000),
1900
5 g J-D
180,000 June 1 1920
Interest at City Trust C o ., Boston, Trustee,
II G & D 1st m tge_______ n t f 1899
5*
to n n
35,000 M ch 1 1919
Lynn & B coup $ 4 0 5 ,0 0 0 - - n t f 1897 6 A -O
405.000 April 1 1917
Gloucester
s xjfc
5 g
g JJ-D
125.000 UeC
D ec I1 1916
F or nn nE/li
nnn\Bev 1st
* M . \ 1896 O
-u
1ZO.UUU
* - n tf/In terest at A m e r .T r . C o .. Boston. Trustee.

1

--- — ntf

“

$15O,0OC)"Ugfld™.n\Sf )

1895

5 g M ~S

156’000 M ch 1 1915

Thn K n i Uv 11,redl^ mSb,euat 105’ I n t - at A n l- Trust C o .. Boston. Trus.
The
r > ' RiT’ has out ®6 0 - ° ° 0 gold 5s, due Jan. 1 1919.
O r?
J L R y ’ h,ais outstanding $ 12,500 6 % coupon notes due
15 1.9 1 6, Interest payable April and October.

d a E K b T ! § & a n d ^ e ^ e b . baf 9° i ^ tandtog $10,000 6% coupon notes
Low ell L a w ren ce & H averh ill.
BON DS—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Lowell Lawrence & Haverhill i893
5 g J-D
$73 9 .0 0 J June 1 19^3
1st m tge, $ 1 ,9 0 0 ,0 0 0 , gold. Subj. to call for the sink, fund at 105 & int.
„ $ 1 .0 0 0 -----------------------c * - n t f In t. at American Trust C o ., Boston, Trustee.
Peoples St R y , W est N ew ­
1898 * 5 9;,J
64.000 Jan 1 1928
bury, M a ss, first mortgage Interest at State Street Trust C o ., B oston .
bonds, assumed________ n tf
O L D C O L O N Y S T R E E T R Y . S E C U R IT IE S .
BONDS—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity .
Re/ « ? 1o ^ $ 1 0 ’0 0 0 ’0 0 0 ’ *gol(Ji\T1904
4 g J-J
$6,1 0 3 ,0 0 0 July 1 1954
($1,000)
----- --------- c * - n t f (In t. at Old Colony T r . C o ., Boston, Trustee.
Brockton (Consol) St R y 1st) 1894
5 g A -0
689,000 Oct 1 1924
m ort. $ 7 50 ,00 0, g o l d - .- n t f lin t , at State T r. C o ., callable at 105 Sc int.
Boston M ilton & B rockton) 1899
5 J-J
100.000 July 1 1919
_ lst, r?,tg,e ’ $ 1 0 0 ,0 0 0 -------n t f /l n t . at In tem at. T r . C o ., Boston, Trustee.
Brock Bndegwat & T aunton] 1897
5 g F -A
200,000 A u g 1 1917
1st M g , $200,000 ($1,000) )In t. at Am er. T r . C o ., Boston, Trustee,
c * ------------------ - ................ntfj
Brock & E Bridgewater, 1st . 1898
5 g F -A
30.000 Feb 1 1918
m tge, gold, $ 3 0 ,0 0 0 -. . n t f In t. at American T r . C o .. Boston, Trustee.
Taunton & Brockton first 1897
5 F -A
100.000 Aug 1 1917
mortgage, S 1 0 0 ,0 0 0 -_ .n t f In t. at State Street T r . C o ., Boston, trustee.
N Bedford M ’dleboro & Brock
1900
5 g J-J
325,000 Jan 1 1920
1 st M , $325,000 ($1,000), In t. at American T r . C o ., Boston, Trustee.
gold-------------------------------- n tf
Braintree Street m ort____ n tf
1894
J-J
35,000 Ju ly 25 1914

6

___ _
State Street Trust C o .. B oston, Trustee.
O f the $10,000,000 Old C olony St. R y . ref. m tge., $2,508,000 are reserved
for prior liens. Remaining bonds can only be issued for 50% o f cost o f
additions & impr ts. These bonds are not subject to call. V . 93, p . 1784.
G lo b e S tre e t R a ilw a y S e cu ritie s.
^
„
,
Date. In te re s t
O u ts ta n d in g .
M a t u r it y .
DIghton Somerset & Swan 1896
5 g J-D
$78,000 D ec 1 1915
bonds, $125,000, gold, s f,{I n t . at International T r. C o ., B oston, Trus.
„ red 105 ($1,000)----------n t f l
Sinking fund is $3,000 a year.
T rov & Taunton St R y 1st g ) 1898
5 g M -S
150,000 Sept 1 1918
($1,000),auth,$200,000.n t f / American Trust C o ., B oston. Trustee.
S o u th S h o re & B o sto n S tre e t R a ilw a y S e cu ritie s.
D a le .

In te re s t.

D a te .

In te re s t.

O u ts ta n d in g .

M a tu rity .

B onds, 1st M ($1,000), g o ld .)
1899 5 F-A
$335,000 A ug 1 1919
$1.000,000------------------- n t f/I n t . at American Trust C o ., B oston, Trustee.
Braintree & W eym outh 1st) 1897
5 g M -S
80,000 M ar 1 1917
m tge, gold, $80 ,00 0 -- - n t f /I n t . at Intem at. T r. C o ., Boston. Trustee.
Bridgewater W hit & R o ck .)
1897 5 g M -N
85,000 N o v 1 1917
1st m tgo, g. $ i,0 00 c * .n tf/I n te r e s t at American Trust C o ., B oston.
Rockland & A bington, 1st)
1895 6 g M -N
100,000 M a y 1 1915
m tge, $100,000, g o ld c* n tf /I n t. at Old C olony T r. C o ., Boston, Trustee.
W e st R o x b u ry & R o slin d a le S tre e t R a ilw a y B o n d s.
i m

________

O u ts ta n d in g .

M a t u r it y .

is t M , $150,00°. g, s f ($500) .1 !896
5 g M -S
$117,500 Sept 1 1916
——rc* l a t l 98- - - - — ,V c * - " tf ( I n t - at Intem at. Trust C o .. B oston, Trustee.
N o rfC e n t 1st M . go d . $100.- 1898
5 g J-J
32.500 July 1 1918
000, subject to call------n t f /I n t . at Intem at. Trust C o ., B oston, Trustee.
N orfolk Suburban, first m ort-) 1894
5 J-J
45,000 July 1 1914
gage------------------------------n t f /I n t . at Internat. T r. C o ., Boston, Trustee.
Stock a n d B onds. — B y the terms o f purchase o f Old C olony b y Boston Sc
N or. the pref. stockholders o f both companies became 1st pref. stockholders
o f the B ay State St. R y. Pref. stock is subj. to call at 120. Listed on
Boston Stock E xch. Or the $15,000,000 Boston & N or. bonds, $5,290,000
are reserved to retire prior liens. Remaining bonds can be issued only for
50% o f cost o f additions and improvements. These bonds have no sinking
fund and are n o t subject to call. V . 93, p . 1784. O f the $5,379,000 1st M
bonds o f the Lynn & Boston R R ., $1,656,000 have been canceled. The
coupon notes o f 1912 mature Aug. 15 as follows: 1913 (p a id ), $25,000;
1914, $31,000; 1915, $37,000; 1916, $43,000; 1917, $50,000; 1918, $57,000;
1919, $64,000; 1920, $72,000; 1921, $80,000; 1922, $88,000; 1923, $97,000;
1924, $106,000; 1925, $116,000; 1926, $126,000: 1927, $136,000; 1928.
$148,000; 1929, $160,000; 1930, $174,000; 1931, $188,000; 1932, $202,000.
V . 95. p. 618.
.
_
— Initial d iv. on B ay State St. R y . com .— 3 % — paid
D e c. 30 1911; in 1912. J u n e .2 % ;D e c ..3 % ; in 1913, June, 2 > S % ;D e c.. 3 %
R O A D .— See description under M ass. E lec. C os. above.
IN C O M E A C C O U N T OF B A Y S T A T E S T R E E T R Y — Fiscal year was
changed in 1911 to end J u n e3 0 .a n d rep ortsfor 1912-13,1911-12, 1 9 1 0 - 1 1 are
for 12mos. end. June 30; figures for previous year for 12 m os. end. Sept. 30:
„
,
1912-13.
1911-12.
1910-11.
1909-10.
Earnings................................$9,462,251 $9,116,202 $8,881,521 $8,560,949
5,806,410
5,557,304
5.360.295
Expenses................... ........ . 6,109,511
N et e a rn in g s................. $3,352,740
C harges................................. 1,914,902

$3,309,792
1,840,329

$3,324,217
1,838,579

$3,200,654
1,792,937

Divisible Incom e........... .$1,437,838
D iv id e n d s .......................... 1,253,762

$1,469,463
1.077.681

$1,485,638
1,169.090

$1,407,717
1,130.561

$391,782

$316,548

$277,156

B alance.............................

$184,076

O F F IC E R S .— Pres., Patrick F . Sullivan. Boston; V .-P . Sc T reas., C . R •
Rockwell: V .-P . Sc Gen. M g r., It. S. G off.— V . 8 4 , p. 995; V . 8 6 , p. 720*
1223; V . 93, p . 1 0 4 ,2 8 5 , 1724, 1784; V .9 4 .P - 1055, 1507; V . 95, p . 175,360 *
4 18, 543, 6 18, 678; V . 96. p. 200, 789, 1838; V. 9 8 , p . 72, 761, 1391, 1458.
1535*

(а) B o sto n & C h elsea R R .— Owns 4.352 miles o f main track. Leased
to Lynn & Boston Street R y . C o . at $7,260 per annum, equal to 6 % on
$121,000 stock, payable A . & O.
(б) B o sto n & R evere E lectric S tre e t R y.
O R G A N IZ A T IO N .— Incorp. June 24 1889. Leased from July 1 1895
for 99 years to Lynn & Boston (now B ay State Street R v .), which guaran­
tees Interest on the $50,000 mortgage o f 1908 and dividends on $50,000
stock from July 1 1898 at 5% per annum.
S T O C K A N D B O N D S—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Stock (par $100) - .........
.......
5 J-J
$50,000 See text
Boston & R evere Elec St R y ) 1908
5 g M -S
50,000 Sept 1 1928
$50,000 gold ($1,000)— c * /ln t . at American Trust C o ., Boston. Trustee.
B onds. — N o sinking fund, but bonds m ay be called on any interest date
on six weeks’ notice.
R O A D .— T otal track, 3.711 miles main.
(c) East M id d lesex S tre e t R y.
O R G A N I Z A T I O N .— Owns 19.251 miles of main track. Leased M a y 1
1893 to Lynn & Boston (now Bay State St. R y.) for 99 years at a rental till
M a y 1 1896 o f $18,000 yearly in addition to fixed charges; then till M a y 1
1901 $24,000 yearly; and for remainder of lease $30,000 yearly. Eight
per cent divs. had been paid, but on M a y 1 1901 were increased to 1 0 % .




ST O C K A N D BON DS—
D a le .
In te re s t.
O u ts ta n d in g . M a t u r it y .
10
$297,700 Seo text
Stock ($100), § 3 0 0 ,0 0 0 -- ......................
120,000 Sept 1 1918
Plain bonds, Int. guar. (e n d .). 1898 5 M -S
Plain bonds, int guar ( e n d ) -. 1902 4 J-J
100,000 Jan 1 1922
Interest at Old Colony Trust C o ., Boston.
The iesseo in the lease agreed to stamp both Issues of the bonds with a
guaranty of the interest— principal is not guaranteed.— V . 67. p. 482.
(d) N a sh u a S tree t R a ilw ay.— Trolley.
O R G A N I Z A T I O N .— Incorp. A u g. 14 1885. On July 1 1900 was leased
to the Lowell & Suburban for 99 years, and lease now runs to B ay State
S t/?en(n/.— Dividends are payable Jan. and July at the rate of 4 % in 1901,
in 1902 and 6 % for the remaining 98 years of lease.
S T O C K , B O N D S , & C .—
D a te .
In te re s t. O u ts ta n d in g . D i v . A M a t .
Stock. $325,000 (par $ 100 )..................
...............
$325,000 See text
First mortgage,
$150,000,1 1901
4 g A -O
150.000 Oct 1 1931
($1,000). gold________ c * t f /I n t . at Old Colony T r . C o .. Boston, Irusteo.
B onds.— Entire issue m ay bo called at 105 and accrued interest.
R O A D .— Owns 15.941 miles of main track.

5%

(e) W in n isim m e t (S treet) R R .
O R G A N I Z A T I O N .— Owns 2.085 miles of main track. Leased to the
Lynn & Boston for 999 years from 1880 at $3,000 per annum. Capital stock
Is $50,000; par $50. Dividends in 1894 to 1913, incl., 6 % per annum.
( /) N ew port & Fall River S treet R y.
O R G A N I Z A T I O N .— Organized by special A ct on Feb. 23 1898. July 1
1900 consolidated with Newport St. R y. Has also consolidated with New ­
port Illuminating C o. Embraces 20.569 m . of main track in and between
Newport and Fall River; also electric lighting. W as leased on July 1 1901
for 99 years to the Old Colony St. R y. (since merged in Boston & Northern,
now the Bay State St. R y.) for a rental of 6 % per annum and int. on bonds.
The M ass. Elec. Companies disposed of its holdings in Fob. 1902.
S T O C K , B O N D S , E T C .—
D a te .
In te re s t. O u ts ta n d in g . M a tu r ity .
Stock, par $ 1 0 0 ---------------------- --------J-J
$950,000
Seo text.
Newport & Fall River 1st! 1898 5 F -A
240,000 Aug 1 1918
m ortgage________ _______ t f f American Trust C o ., Boston, Trustee.
Consol mortgage, $1,000,000.1 1904 444 J-J
573,000 July 1 1 9 5 4
gold ($1,0 0 0 )-----------c * & r t f lln t . at A m . Trust C o ., Boston, Trustee.
Newport Illuminating Co 2 d ) ____
6 g
63,500 Oct 1 1925
mortgage, g o l d ---------------tf [Central Trust C o ., Now York, Trustee.
B onds.— O f the remaining consol, m tge. bonds, $304,000 are reserved to
retire prior lions and $123,000 for future additions at 5 0 % of cost. N ot
redeemable. V . 79, p. 213, 501, 1462.

B O STO N & W O R C E S T E R E L E C T R IC C O M PA N IES.
O R G A N I Z A T I O N .— This Is a voluntary association organized under a
crust agreement dated Dec. 29 1902. Its property consists of tho entire com .
stock, $140,000 1st mtge. bonds and $175,000 "notes payablo” of tho Boston
& Worcester S t. R y.
It has issued 33,936 4 % cum. pref. shares and 34,614
com. shares, no par value; but in case of liquidation pref. shares receive 8100
each boforo the participation of common. In Jan. 1905 was listed on Bos­
ton Stock Exchango. Stock was increased to present amount by tho issue
In July 1906 of 6,000 shares common and 6,000 pref., which was offered to
shareholders at $105 for a block of $100 pref. plus $100 com .
R E P O R T .— For year to Juno 30 1913 (V . 97, p. 884): Dividends received
from B . & W . St. R y . stock, $50,625 ; misc. income, $ 19,058 ; total income,
$69,683; expenses, $1,389; prof., d iv ., $67,872 ; surplus, $422.
D I V I D E N D S .— First div. on pref. stock, $2. paid July 1 1904: $2 Jan.
1905 and $2 July 1 1905: in 1906, $4; in 1907, $4; in 1908, $4; in 1909, $2;
In 1910. Jan ., $1: none to Jan. 1912, when SI was paid; July, $1; in 1913.
Jan ., $1; July, $1; in 1914, Jan ., $1.
O F F IC E R S .— Pres., William M . Butler; V .-P ., A . E . Childs; Sec. Sc
T reas., George A . Butm an. V . 89, p.
V . 90, p. 1674; V . 91, p.
V . 9 3 . p. 795, 1018. 1667; V. 95, p . 749, 815.
B oston & W orcester S treet R y . — Trolley.
O R G A N I Z A T I O N .— Incorporated in Massachusetts on N o v . 16 1901.
F ra n ch ise perpetual.
Owns tho Framingham Union Street R y ., Fram­
ingham Southborough & Marlborough Street R y. and the Marlborough
& Framingham St. R y. In M arch 1907 M ass. R R . Commission granted
right to do an express and freight business over entire line.
On Feb. 21 1911 M ass. R R . C om m . auth. an issue of $397,200 6 % cum.
($100) p re f. stock (auth. by stockholders Feb. 2 1911), of which $297,000
was used to rotiro like amount of common issued in 1910 (V . 90, p. 625) and
remainder ($97,000 issued) to be used to fund floating debt.
V. 92, p. 394.
525, 659, 724.
, ,
In N o v . 1912 made a contract with tho Boston Elevated R y . for the
operation of express cars over that com pany’s tracks to tho freight express
terminal on Harrison Ave.
Fares.— In 1909 single fare unit raised from 5c. to 6 c.
ST O C K A N D BONDS—
D a le . In te re s t.
O u ts ta n d in g .
M a tu r ity $2,025,000 D ec’ 13,144%
S to c k .c o m ( $ 1 0 0 ) - - - ................................................ M -S
397,200 Sept’ 13, 3 %
Prof, $397,200 ($100) 6 % cu m ............
B o st& W or 1st mortgage. $2.-1 1903 43-3 g F -A
2.400,000 Aug 1 1 9 2 3
500,000, gold ($ l,0 0 0 )c * tf/I n te r e s t at American Trust C o ., B os., Trus.
F r a m S o & M a r l l s t m t g . t f / ------5
60,000 Jan
1 1919
( Interest at American Trust C o ., B os., Trus.
N otes payable July 1 1913...................................................
*175,000 ................
* All held by B . & W . Electric Cos.
D iv id e n d s .— On pref. 3 % semLann. since issued. On com. paid 3 %
July 1904; also 3 % semi-ann. until Dec. 1908, when 144% was paid. In
1909, Juno, 1 > 4 % ; in 1910, Jan.. 1 4 4 % : In 1911, D ec., 1 % ; in 1912. June.
1 4 4 % ; D e c ., 144 %• In 1913, June, 1 4 4 % ; D ec., 1 4 4 % .
R E P O R T .— For year ending Juno 30 1913, gross, $668,938; net, $ 251 ,­
091; int. & taxes, $172,213; pref. d iv ., $23,687; com ., $50,625; surp., $ 4 ,5 6 6 .
R O A D .— Owns and operates 83.386 miles of track, a considerable portion
over private right of way, between Boston and Worcester, including an
extension to N atick. Rails, 75-lb.
Has 79 cars.
O F F IC E R S .— Pres., William M . Butler: V .-P ., A . E . Childs; Sec. and
T reas., G eo. A . Butm an.— V . 9 0 , p. 625, 770; V . 91, p . 869, 1628; V . 92,
p. 394, 525, 659, 724; V . 96, p. 1020, 1421.

1662:

1764:

P U B L IC S E R V IC E IN V E S T M E N T C O .
O R G A N I Z A T I O N , & c.— Organized in M aine to bold and to deal In
stocks, bonds, notes and other securities. On Oct. 30 1913 stockholders
voted to Increaso tho stock from $ 2 ,0 0 0 ,0 0 0 each o f pref. and common to
$3 ,0 0 0 ,0 0 0 each.
V. 97, p. 1289
S T O C K .—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
Common $3,000,000 ($100)..........................................$2,184,500 F e b ’ 1 4 ,2 %
Prof, $3,000.000 6% cu m . ($100)-----6% Q-F
2,184,500 M a y ’ 14, 144
Stock.— Preferred stock is redeemable at option of company at 115;
$315 ,50 0 in treasury. O f tho common $315 ,50 0 is in treasury.
Securities Owned (Slone A Webster P ro p e rtie s ).
Blackstono Val. G . & E l . .* $ 4 0 1 ,3 0 0 Tampa Electric C o _________b $175,000
Jacksonville Traction C o . . 350,000 G alv. Houston Elec. C o _____*350,000
Houghton County E l. L. C o .*500,000 Northern Texas El. C o _____*385,000
Houghton County Trae. C o .*100,000 Pug. Sd. T r ., L .& P o w .C o * l,466.800
Columbus Elec. C o _________ a 100,000 K ey W est Elec. C o .................. a 222,000
El Paso Elec. C o ................. .. *341,000 K ey W est Electric C o ........... *374.100
* Common stock, a Preferred s to c k .' b Capital stock
See statements o f those companies (except tho Blackstono Valioy Gas
Sc Electric C o . and tho Houghton County Electric Light C o .) on subse­
quent pages.
Stono & Webster offered the stock in M arch 1909 In blocks of 10 shares
o f preferred and 4 shares o f common for $950. V . 89, p. 163.
in Dec.
1913 they offered $500,000 pref. stock at 97. V . 97, p. 1734.
D iv id e n d s .— On prof. 144% quar. since Aug. 1909 to and including M a y ,
1914- On com ., 1st div.— 1 44 % — Feb. 1 1910; A u g .. 1 4 4 % .
rn 1911.
F eb ., 1 4 4 % . A u g ., 1 4 4 % . In 1912. Fob., 1 4 4 % . A u g ., 2 % . In 1913.
F e b ., 2 % ; A u g ., 2 % .
In 1914, I<ob., 2 % .
E A R N I N G S .— For year end. Dec. 31 1913, gross, $256 ,76 6; net, after
taxes, & c ., $241,857; pref. divs. (6 % ) , $120 ,00 0; common div. ( 4 % ) ,
$80,000; surplus, $41,857 .
D IR E C T O R S .— Henry G . Bradlee, Russell R obb, Chas. A . Stone,
Edwin S. W ebster, Eliot Wadsworth (P res.).— V . 89. p. 163; V. 90, p. 628;
V . 9 2 , p. 463; V . 95, p. I l l ; V . 97, p. 1119, 1289, 1734.




17

ELECTRIC RAILWAYS

M a y , 11)14.)

BO W LIN G

GREEN,

O H IO .

L A K E E R IE B O W L IN G Q R E E N & N A P O L E O N R Y .— A trolley road.
R eceivership.— Interest on bonds having been defaulted M a y 1 1911,
Judge Killits in Federal Court at Toledo on M a y 2 1911 appointed A . E .
Royce and B . C . Harding of Bowling Green, receivers. On July 16 1913
C . G . Taylor succeeded A . E . Itoyce and B . C . Harding as receiver. V . 92, p.
1243. On D ec. 18 T 1 Judge Killits ordered are-issue of $75,000 receivers’ ctfs
originally put out several mos. previous for im prov’ts. V . 93. p. 1786, 796.
Sinco taking possession receivers have paid int. due M a y 1 and N o v . 1 1911.
Foreclosure.— On M a y 17 1913 tho Union Trust C o. of Detroit instituted
foreclosure proceedings in the U . S. D ist. Court at Detroit. T h e amount
duo on tho 1st M . 5s of 1903 was stated as $429 ,50 0. V . 9 6 , p . 1488. It is
stated officially that sale is expected about July 15 1914.
O R G A N I Z A T I O N .— Incorporated in Ohio in 1902.
STOCK AN D BON DS—
D a te . In te re s t.
O u ts ta n d in g .
M a t u r it y .
C om m on, $750 ,00 0, ($100)___ ______
__________
$428 ,40 0 ____________
Pref, $250 ,00 0, ($100) 6 % n -c .
.........................„
250,000
................
1st M , $1,000,000, gold ($5001 1903 5 g M - N
353,500 N o v 1 1933
and $ 1 ,0 0 0 ) -------------------- c * /l n t . at Union T r. C o ., D etroit, Trustee.
R ec’vs certfs S75,000 ($1,000) 1911 6 quar
7 5.000
D ec 1913
B onds.— $570,500 bonds are reserved for extensions at $17,000 per mile
and $76,000 in com pany’s treasury. N o sinking fund and bonds are not
subject to call. In t. on receivers’ ctfs is payable in Bowling Green.
E A R N I N G S .— For year ending D ec. 31 i9 1 2 . gross, $53,1 2 8 . In 1911,
gross, $52,866 ; net, $6,073.
R O A D .— Operates 25 miles o f track between Tontogany, O ., and W o o d villo. Standard gauge, 60-lb. T rail. Connects at Tontogany with Ohio
Elec. R y . at Bowling Green with Toledo Bowling Green & Southern
Traction C o ., at Pemberville with Toledo Fostoria & Findlay R y. and at
W oodville with Lake Shore Elec. R y . Furnishes electric light and power
at Bowling Green, as well as hot-water heating.
O F F IC E R S .— Pres., R obt. Place; V .-P ., E . II. M cK night; Sec., I I . G .
H ankey; T reas., B . C . Harding.— V . 92, p. 1243; V . 93, p . 7 96, 1786; V . 9 4 ,
p . 207 ; V . 9 6 , p. 1 4 8 8 . __________ ______________

BRATTLEBORO , VT.
T W I N S T A T E Q A S & E L E C T R IC C O .
O R G A N I Z A T I O N .— Incorporated in Connecticut on A u g. 26 1906 and
acquired tho Brattleboro Street R y ., the Brattleboro Gas Light C o ., the
Dover Gas Light C o .(V . 83, p . 5 6 2 ), the Bennington Electric C o. and the
Hoosick Falls Illuminating C o . Furnishes gas, electric light and power
to D over, N . I I ., and Brattleboro, V t ., and operates the Brattleboro S t.
R y .; also furnishes electric light and power to Rochester, Salmon Falls,
Somersworth and Hinsdale, N . II .; North Bennington and Bennington Cen­
tro, V t ., and Hoosick Falls, N . Y . Tho properties o f the Cascade L t.&
Pow. C o . and the Berlin Elec. C o . will be taken over by means o f the new
convertible notes. See V . 98, p. 156. Control is held by tho National
Light, H eat & Power C o ., control o f which was in turn acquired by the
M iddle W est Utilities C o. in O ct. 1912. V . 95, p . 1750.
ST O C K A N D B O N D S—
D a te . In te re s t.
O u ts ta n d in g .
M a t u r it y .
Com m on, $ 2 ,500,000. ( $ 1 0 0 ) . ..................................
$1,25 0 ,0 0 0 .................. ..
Pref (5 % cu m )$2,500,000 ( $ 1 0 0 ) .....................................
1.426,000 .......................
1st & ref. M . $ 1 0 ,0 0 0 ,0 0 0 -n t f ____
5%
See text. O ct. 1 1953
Convertible gold notes $ l ,- f 1913
5 g A -O
5 0 0,000 O ct. 1 1 9 1 6
000,000 ($1,000, $500 , and! Interest payable at Now Y o rk.
„
$ 10 0 ) ........................... c * .n t f 1
Dover Gas Light con m ort-i
1905 5
150,000 Sept 1 1925
gage, $500,000 ...............t f /U n i o n Safe D ep. & Trust C o .. Trustee.
United Gas & Elec, mortgage,!
1897
250,000 Sept 11917
$250 ,00 0............................. n t f (Union Safe D ep. & Trust C o ., Trustee.
Brattleboro Gas L Co m t g .n t f
1903 5
73.000 Feb 2 1923
--------------75,500
1935
Hoosick Falls Illuminat’g C o ! ------$15 0 ,0 0 0 _________________ tf/C o l.-K n ic k . T ru stC o., N . Y . , Trustee.
_________
65,000
1930
Hoosick Falls Electric C o ! ____
$7 5 ,0 0 0 __________________ tffO Id Colony Trust C o ., Boston, Trustee.
Bennington W ater Power & ) ____
64,000
1923
& Light Co $ 100 .00 0___n t f (American Loan & Trust C o ., Trustee.
Bennington W ater Power
____
12,500
1929
Light Co $ 3 0 ,0 0 0 -------- n tf (Old Colony Trust C o ., Boston, Trustee.
Bennington Elect Co $ 1 7 5 .- 1 .......
98,500
1935
000 ______________________ tfiC o l.-K n ic k . Trust C o ., N . Y . , Trustee.
Bonds.— O f the $10,000 ,000 auth. 1st & ref. 5s, $1 ,8 9 5 ,5 0 0 are reserved
for present bonds outstanding and $ 6 0 0 ,0 0 0 are held as collateral for the
convertible notes of 1913. The convertible notes are convertible in amounts
of $100 or multiples .thereof any time before maturity into 1st & ref. 5s,
tho notes to bo taken at par and the bonds at 93. $600,000 1st & ref. 5s
are pledged as security for the issue. V . 9 8 , p. 156.
Darnings.— For year 1912 (not including Berlin Elec, or Cascade Light &
Power), gross, $451,836; net, $196 ,12 8.
R O A D .— Operates 5 miles of track in Brattleboro. in addition to gas and
electric-light plants in Brattleboro and Bennington, V t ., Hoosick Falls,
N . Y . , and D over, N . H ..
O F F IC E R S .— Pres., I. L . M eloon: Sec.. A . S. Foster; T reas.. W . G .
M oloon. G en. offices. D over, N . H .
V . 83, p. 499; V . 9 5 , p . 1750; V . 98,
p. 156.
m

BR ISTO L,

CONN.

B R IS T O L & P L A IN V IL L E T R A M W A Y C O .— A trolley road. Also
rumishes electric light and power, gas and steam heat.
O R G A N I Z A T I O N .— Organized Sept. 21 1893. A gas plant was com­
pleted in 1906. Franchises perpetual. In Aug. 1906 a majority of stock
was pooled for 5 years.
In Aug. 1911 pool was renewed for 5 years more,
but this was dissolved, it is stated, in N o v . 1913. In D ec. 1913 it was
announced that Richter & C o. of Hartford, C o n n ., had purchased control
of tlie property. V . 97, p. 1662
In August 1908 a stock dividend of 5 0 % was declared. Increasing out­
standing amount to $375,000.
V . 8 7 . p. 96. 414.
,
In M a y 1914 tho diectors recommended an increaso in the capital stock
from $375 ,00 0 to $562,000, for im pts., &c. V . 98, p . 1535.
ST O C K A N D B O N D S—
D a te . In te re s t.
O u ts ta n d in g .
M a t u r it y .
Stock, $ 1 ,000,000 ($100 _____ ______ !”» ________
$375,000 M a y T 4 , 2 %
1st mortgage $600,000, gold! 1905 444 g M -N
540,000 N o v 1 1945
($500 and $ 1 ,0 0 0 )_________ (Interest at Bristol National Bank, Bristol.
(Treasurer of State of Connecticut, Trustee.
B o nds.— Are subject to call after 5 years at 102; after 10 years at par.
E A R N I N G S .— For years ending June 30.
R a ilw a y
R a ilw a y Gas A Elec.
Interest
Year— Gross.
N e t.
L tg ., N e t.
A Taxes. D iv id e n d s . S u rp lu s .
1913 .$ 1 0 0 ,5 8 5
$35,756
$26,117
S30.703
$30,000
$1,170
1912 95,544
35,848
37.252
31.160
3 0,000
11,940
R O A D .— Operates about 1 3 M miles of track laid with 56 and 60-lb. T rail
from Bristol to Plainville, with branches to Lake Compounce and to
Terryville. Standard gauge, 29 cars, 3 snow plows and 1 work car.
O F F IC E R S .— Chairman o f board, Chas. II. Tenney; Pres.. A . B . Ten­
ney; V .-P ., I). E . M anson; Sec.-Treas.. M orris L . T iffany, Bristol, C onn.;
M anager, O . E . Cockings. General M anagers, C has. II. Tenney & C o .—
V . 95, p. 1330; V . 97, p. 1662; V. 98, p . 154, 1535.

BR ISTO L,

V A .-T E N N .

B R IS T O L T R A C T IO N C O .
O R G A N I Z A T I O N .— Incorp. in Virginia. W as formerly tho Bristol Belt
Line R y. C o. but on Sept. 7 1911 filed a certificate changing name to above
title, and increased auth. stock from $100,000 to $300,000, and par of shares
from $50 to $100. V . 9 3 , p . 1323. Owns entire stock of the Ilolston Valley
R y .. a narrow-gauge steam road.
ST O C K A N D B O N D S—
D a le . In te re s t.
O u ts ta n d in g .
M a tu r ity .
Stock $300,000 ($1 0 0 )_____ _________
_________
$136,000 ......................
M ortgage $300,000 ($1,000)! 1911 5 A-O
150,000 Sept. 15 ’41
callable at 105.......... ..............fU . S. Trust C o ., Washington, D . C ., Trustee
R O A D .— Operates 7.04 miles standard-gauge electric line in Bristol and
11.09 miles narrow-gauge steam road between Bristol and Big Creek Park,
on tho Holston River.
14 motor cars, 2 locomotives, 4 passenger and 12
freight cars.
O F F IC E R S .— Pres., B . L . Dulaney; V .-P ., Sc Gen. M g r ., Fred Dulaney;
Sec. & Treas., N . D . Bachman Jr.
V. 93, p. 1323.

BROOKLYN,

N.

Y.

B R O O K L Y N R A P ID T R A N S IT — (See M a p s , pages 20 a n d 21).
O R G A N I Z A T I O N .— Organized Jan. 18 1896, per plan in “ Chronicle,”
V . 60, p . 1145. to succeed to the property of the old Long Island Traction

18

ELECTRIC RAILWAYS

Com pany, foreclosed, syndicate headed by the late ex-Governor Flower
having then bought control. Is not a railroad corporation, but was or­
ganized under the Business Corporation law of New York to hold the stocks
and bonds of railroad companies and to aid in the construction and equip­
ment of railroads. F ran c h is e s aro perpetual.
A S S E T S .— The following Is a statement of the stocks and bonds owned
by the Brooklyn Rapid Transit system Jan. 1 1914.
S to c k s .
Entire capital stock Brooklyn Heights R R . C o. (par)
_
$200 000
Entire capital stock B kln. Q ’ns C o. & Suburban R R . C o. (p ar).
2,000i000
84,997 shares out of 85,000 shares of the com . stock of the Nassau
Electric R R . C o ., par______________________ _
_
8 4 9 9 70 0
63,939-75 shares out of 65,000 shares of the 4 % cumulative preir'
’
’
stock of Nassau Elec. R R . C o ., par___ . . .
.
6 393 975
4 7 ,859.85 shares out of 50,000 shares of the 5 % non-cumula’tive
’
’
pref. stock of the New York Consolidated R R . C o ., par____
4.7 8 5 .9 8 5
iw 4.308.31 shares cut of 139,000 shares of the common stock
of the N ew York Consolidated R R . C o ., par............... .................. 13,430 831
Entire stock of Coney Island & Gravesend R y . C o ., par________
350,000
647.82 shares of Brooklyn Rapid Transit C o ., p a r .............. ............
64,782
4,991 shares out of 5,000 shares of South Brooklyn R y ., par___
499,100
9,800 shares out of 10.0OO of the American Railway Traffic C o.
(owned by Transit Development C o .), par........ ............................
980,000
Entire capital stock of the Transit Development C o ., par_______
500,000
50.000
500 shares o f the Bridge Operating C o ., par_____________________
1,000 shares of N . Y . Municipal C orp., par_____________
___
100 000
920 shares out of 1,000 shares o f N . Y . & Coney Isl. R R . Co
92 000
495 shares out of 500 shares Pros. Park & South B klyn. R R . C o .
49)500
26 ,3 7 0 shares out of 29,839 shares Con. Isl. & B klyn. R R ______
2 ,6 3 7 ,0 0 0
$ 4 0,632 ,873
B onds.
♦1st M 5 % bonds B klyn. Queens C o . & Sub. R R . (par)__________ $2,000,000
1st con M B klyn. Q ’ns C o . & Sub.(owned by B klyn. l l't s C o . ) . .
50,000
♦1st mortgage 5 % bonds Brooklyn C ity R R . (par)_______________
1,627,000
♦Refunding gold m tge. 4 % , Brooklyn C ity R R _________________
725,000
♦Gold 5 % bonds Brooklyn Rapid Transit________________________
30,000
R ef m tg 4 % bonds Brooklyn Rapid Transit C o _________________ 16,953,000
R ef m tg 4 % bonds B . R . T . (owned by Nassau E l. R R .) _______
1,761,000
Consol m tg 4 % bonds Nassau Elec R R __________________________
1,161,000
Consol m tg 4 % bonds Sea Beach R y . (owned by Nassau Elec.
R R . C o .) ..........................
22,500
Jamaica & Brooklyn m tge. bonds_________________________________
8,000
N . Y . M unicipal R y . Corporation_________________________ . I l l 39,699)000
$64,036 ,500
♦The entire amount of B . Q. C . & Sub. R R . 1st 5s and B klyn. C ity R R .
1st 5s: also $125,000 out of the $725,000 B . C . R R . ref. 4s held, and $25,000
out of the $ 30,000 B . R . T . gold 5s and $250,000 B . R . T . ref. m tge. 4s held,
compose guaranty fund for performance of Brooklyn C ity R R . C o .'s lease.
N e w Subways a n d E xte n sio n s.— An agreement was reached in M a y 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 o f Appealslat Albany having on June 29 1912 affirmed the
decision of Justice Blackmar (V . 94, p. 1057) holding to bo constitutional
the terms of the proposed contracts with the Interborough and B . R . T .,
formal contracts wero drawn up by the P . S. C om m , and were signed on
M a r. 19 1913.
V . 96, p. 862. See caption “ Rapid Transit in New York
C ity ” in V . 94, p . 1384, 1449, 1566: V . 95, p. 48, 111, 237, 1040- V 96
p . 63, 136, 4 88, 716, 864. The new subway lines, to be built Jointly bv
the Brooklyn Rapid Transit and the city, are as follows:
y
(а) Subway line traversing the Borough of M anhattan from the Battery
to 59th S t., m ostly on Broadway, and connecting by tunnel under the East
River with subway lines in Brooklyn, with rights over the Brooklyn, M an ­
hattan, Williamsburg and Queensboro bridges.
( б ) Centre St. loop, connecting the different bridges and extended through
Nassau and Broad S ts., M anhattan, to a connection with the lower East
River tunnel and the 4th A v e. subway in Brooklyn, with extensions to
8 6 th St. and Coney Island. Tw o tracks in the Centro St. loop were placed
In operation A u g. 4 1913.
V. 97, p. 297.
(c) Subway line extending from 6 th A v e. and 14th S t ., M anhattan,
across M anhattan, under the East River, to W yck off A v e ., Brooklyn, and
thence an elevated line to East New York.
(d ) Subway line in Brooklyn connecting M anhattan Bridge with the
Brighton Beach R R .
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. The estimated cost of construction to the
city is $100 ,50 0,00 0; of construction and equipment to the company,
$65,000 ,000 .
See N . Y . Municipal R y . C orp.— Organized to carry out com pany’s
agreement with city— on a subsequent page.
A s to financing of the new construction work by the B . R . T . , see Secured
Gold N otes in table below, and text relating thereto, and also V . 9 4 , p. 1694
T h e B ro o klyn C ity R It. Co. is held under a 999-year lease dated Feb. 14
1893, guaranteeing ail fixed charges, organization expenses, taxes and 10%
dividend on $12,000 ,000 of stock. The lease is nominally to the Brooklyn
Heights R R . C o ., but the Brooklyn Rapid Transit C o. owns the entire cap­
ital stock of the Brooklyn Heights C o . In 1898 the Heights Company
leased the Brooklyn Queens County & Suburban R R . The lease was re­
newed year by year, rental being fixed charges, taxes and organization ex­
penses. On July 1 1901 the B . Q. C . & S. began operating separately again.
On April 1 1899 the Heights Company temporarily leased the Nassau Elec­
tric R R . Later permanent leases wero m ade, but on Juno 30 1 9 0 4 .presuma­
bly in consequence of a decision (V . 79, p. 102) compelling the issuance of
transfers, the lease of the Nassau Electric R R . was canceled.
Tho Brooklyn Heights R R . in April 1899 leased for tho period of 999 years
the Prospect Park & Coney Island R R . (see terms under the latter), the
New York & Coney Island R R . and the Prospect Park & South Brooklyn
R It., but the leases of these companies were assigned in M arch 1907 to
South Brooklyn Ity ., which had been acquired by purchase in Feb. 1902.
V . 74, p . 479. In July 1912, however, the South Brooklyn R y. acquired
495 out of 500 shares of P. P . & So. B klyn. stock and 820 out of 1 ,000 shares
of N . Y . & C . I. V . 95, p . 47. The South Brooklyn Ity. owns the double­
track road (.1)4 miles) extending from N ew York B ay, near 38th St
Brooklyn, to 38th S t., near 9th A v e ., Brooklyn, and in Juno 1907 increased
its stock from $150,000 to $500,000.
Through elevated train service from Broadway Ferry, adjoining the
Williamsburgh Bridge, to Canarsie was instituted July 30 1906 (V . 8 3 , p.
271); through servico over the bridge to Delancey S t., N . Y . , was put in
operation on Sept. 16 1908, the connection from Broadway Elevated to
Bridge structure having been completed.
On M a y 21 1904 tho Brooklyn Heights Railroad C o. signed an agree­
ment with tho city for operation of trolley cars over the new Williamsburg
Bridge. See V . 78, p. 2013, 2386. Later the Bridge Operating C o.
was formed, with $ 10 0 ,0 0 0 capital, to operate local service on the brldgo.
See V . 79, p. 626. On N o v . 15 1912 the Appellate Division of the Supreme
Court, First D e p t., affirmed tho order of the P . S. C om m , reducing the
fare charged over the Williamsburgh Bridge from 3 to 2 cents, or three
tickets for 5 cents. V . 95. p. 1402, 1471. Through surface cars are oper­
ated over Brooklyn Bridge by Brooklyn Heights R I t ., Nassau Electric R R .,
and Brooklyn Queens C o. & Sub. R R . Surface cars began to cross this
bridge in N o v . 1904. V . 79, p. 2084.
D e cisio n in S u it A g a in s t B rooklyn C ity RR.— On Juno 8 1912 the Appellato
D iv . of N . Y . Supreme Court, 2d D ep t., handed down a unanimous decision
affirming, to the extent of $1,766,892 principal (with int. from M arch 3
1910), the Judgment awarded by tho lower Court (V . 90, p. 558; V . 80, p.
1174: V . 70, p. 841) in the suit (begun in April 1900) of Brooklyn Heights
R It. against the Brooklyn C ity R It., but modified the judgment of tho lower
Court by striking therefrom tho sum of $1,616 ,6 8 0 , representing interest to
M a r c h 3 1 9 1 0 . V .9 4 ,p . 156 5 ,1 6 2 5 . Brooklyn C ity R R . then took an appeal
to the Court o f Appeals. Brooklyn C ity Ity. in July 1910 reduced its divi­
dend to 2 % qu ar., )4 o f 1% being retained quarterly and set aside in a spe­
cial fund. V . 9 1 , p. 93. O ct. 23 1913 agreement o f settlement was executed
by the Brooklyn Heights R R . and the Brooklyn C ity IIR . providing for tho
payment of $ 1 ,750,000, of which $900,000 was to be paid in cash on orlbeforo
N o v . 1 1913 and the balance in quarterly Installments o f $50,000 with int.
at 5 % from N o v . 1 1913 until paid. It is expected that the full 10% divi­
dend will be resumed from and after O ct. 1 1917. V . 97, p. 1285.
S p ecial F ra n ch ise T a x Reduced.— For decision allowing for obsolescence
in fixing special franchise tax, see V . 91, p. 1511.
Brakes Required.— On July 10 1913 the Appellate D iv . of tho Supremo
Court unanimously sustained the order of the P. S. C om m , requiring tho
co. to equip its cars with power brakes and geared hand brakes. V .9 7 ,p .l7 5 .
P urchase o f Coney Is la n d A B rooklyn RR .— In D ec. 1913 the subsidiary
Coney Island & Gravesend R y . received permission from the P . S. C om m ,
to purchase $2,63 7 ,0 0 0 of the $2,98 3 ,9 0 0 outstanding stock of tho Coney
Island & Brooklyn R R . V . 9 6 , p. 1020, 1088; V . 97, p. 1897.




[V o l . XVCIII

U n iv e rs a l T ra n s fe rs .— On M a r. 27 1914 Public Servico Commission issuod
an order providing for a universal system of tranfsers among surface
lines in Brooklyn, and this was accepted by tho several operating companies
in tho Brooklyn Rapid Transit System , to bo effective as soon after M a y 1
1914 as tho necessary arrangements to that end could be m ade. T h e now
order makes a total of 1,008 transfer points, as against 721 before tho order
became effective.
V . 98, p. 911, 1070.
The T ra n s it Developm ent 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 C o. It is authorized to
manufacture and sell power and to do general contracting work. On
M arch 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 equip­
ment- .n ’ 8 4 ,-P v£6 9 ’ . In June 1907 capital stock was increased to $ 5 00 ,00 0.
I ho I ransit Developm ent C o. in D ec. 1913 acquired a tract of about
90 acres in tho Gravesend section o f Coney Island. V. 98 p 72
The American Railway Traffic C o. was incorporated in Jan. 1904 with a
capital of $1,000,000 (of which $980,000 is owned by the Transit Develop­
m ent C o.) for the purpose of hauling and disposing of city’s ashes and refuse.
Contract with city expiring D ec. 27 1908 was not renewed and company
is in process of dissolution.
M ortgages o f C o n s titu e n t C om panies to Secure Advances by B rooklyn R a p id
T r a n s it.— In M a y 1907 the N ew York State R R . Com m , consented to the
Sea Beach R y ., the Canarsie R R . and the South Brooklyn R y. making
mortgages of $2,0 0 0 ,0 0 0 , $ 2 ,000,000 and $4,0 0 0 ,0 0 0 , respectively, to secure
certificates of indebtedness issued by those companies to tho Brooklyn
Rapid Transit for moneys advanced for additions, betterments, &c.
In
June 1907 Brooklyn Union Elevated authorized a m tge. for $20,000 ,000
and tho Nassau Electric for $5,000,000 for same purpose; but in July 1908
Public Service Commission denied application for the approval of these lat­
ter two mortgages. See particulars V . 87, p. 224. N o bonds will be Issued
under any of these m tges., which are created simply to secure the certifi­
cates of indebtedness as issued from time to time. The certificates cannot
be issued at less than par and are deposited under tho Brooklyn Rapid
Transit first refunding mtge.
V . 84, p. 1181, 1246, 1550.
, M ock In c re a s e .— On Jan. 3 1913 increased its auth. stock from $45,000 ,000
to $90,000 ,000 , tho new stock to be issued from time to time before July 1
19i 4„v?;x,c,-us^ ? ! Y £°,rJ & e conversion of 4 % bonds of 1902. V , 96. p . 61.
—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
Q-J
$65,8 5 7 ,0 0 0 A pr '1 4 . I K
Stock, $ 9 0 ,000 ,000 ($100)----------------T r lst ref m tge.f 1902
4 g J-J
214,195,000 July 1 2002
$ 1 5 0 ,00 0,00 0, g old . c*& rtfi Central Trust C o ., N . Y ., trustee. Coupon
„
. „
l bonds ($1,000); registered ($1,000, $5,000)
B « n n n ilS,nTran goIcl
A 895
5 8 A -O
7,000,000 Oct
1 1945
.0 0 0 ,0 0 0 -----------------c * n tf ld Int. at Equitable T r. C o ., N . Y . , trustee.
B J secured notes $60,000,- 1912
5 g J-J
39.699,000 July 1 1918
000 ($1,000). gold-------c * tf I Interest at Central Trust C o ., N . Y . , trustee
Brooklyn C ity R R —
Refund m tge, $ 6 ,9 2 5 ,0 0 0 / 1906
4 g F -A
z725,000 M a y 1 1956
( $ 1 ,0 0 0 ) ---------------------n tflL o n g Island L & T r C o, B klvn, trustee.
First consol m tge
. n t f 1891 . 5 J-J
t/4.373,000 aJuly 1 1941
New \V & Flat 1st M . . _ n t f ------4 'A F -A
200,000 July 1 1941
Brooklyn Heights R R first! 1891
5 A -O
------------ Apr
'
---------250,000
1 1941
m ortgag e........................... .. t f l l n t . atPeople's T r. C o ., Brooklyn, trustee.
5 g J-J
______ ____ M
___
Brooklyn Queens Co & S u b / 1894
e3,500,000
uly 1 1941
first mortgage.............n tflG u a r. Trust C o ., New York, trustee.
First consol M , guar p & if 1894
5 g M -N
2 ,884,000 *July 1 1941
(end), $ 4 ,5 0 6 ,0 0 0 — n tf (Central Trust C o ., New York, trustee.
Jamaica & Brook R R first/ 1889
5 g J-J
240.000 Jan 1 1 9 3 0
m ortgag e........ ................ tflC entral Trust C o ., New York, trustee.
Sea Beach R y first m tg e ,/ 1896
4 g M -S
650,000 Sept 1 1 9 1 6
guaranteed.........................n t f l W . M . Grinnell, W . O . Platt & W m . M a n .,
f trustees.
Brooklyn Union Elev ls t M , / 1899
5 g F -A
16.000,000 Feb 1 1 9 5 0
guaranteed_______________t f l l n t . at Central T r . C o ., N . Y ., trustee.
Kings Co Elev first m tgo.f 1899 4 g F -A
7,000,000 Aug 1 1949
$ 7 ,6 0 0 ,0 0 0 ($ l,0 0 0 ),g (g u )n tf'lln t. at Central Trust C o ., N . Y ., trustee.
Nassau El RR Co cons M
1898 4 g J-J
11,508,000 Jan 1 1 9 5 1
bonds ( $ 1 ,0 0 0 ),$ 1 5 ,000,-lG u a ran ty Trust C o ., N . Y . , trustee. Bonds
000 _______ ______ _ c*& rtf guar, by end. by B klyn. Heights R It.
First m tge bonds________ tf /
1894 F A -O
660,006 Apr 1 1944
(H am ilton Trust C o ., N . Y ., trustee.
Atlantic A v e. gen m ortgage/ 1891
5 g A -O
c2,241,000 A o r 1 1931
gold-----------------------------ntn B roo k lyn Trust C o ., trustee.
Atlantic A ve im provem ent,/ 1894 5 g J-J
226,000 Jan 1 1 9 3 4
gold ($22 0 ,0 0 0 )_______ tflC entral Trust C o ., New York, trustee.
6B B & W E lst m o r t g a g e ,/____
5 A -O
2 5 0 ,060 Jan 1 1917
Series B ---------------------- t f (Title G uar. & Trust C o ., trustee.
B . B . & W . E . general/ 1893
5 g A -O
121,000 Oct 1 1933
gold-------------------------------tf f Franklin Trust C o ., N . Y . , trustee.
N Y M un R y Corp lst M tge
1912 5 g J-J
7i39.699.000 Jan _1 _1966
...
$100,000,000 ($1,000 and/Interest at Central Trust C o ., New York,
$500) gold-------------- c*&r t f l Trustee.
R ental paym ents in a d d itio n to p aym ent o f fix e d charges—
Brooklyn C ity R R . stock, $12,000 ,000 , 10% Q .-J . 15, 999 y r s .$1,20 0 ,0 0 0
Prospect Park & Coney Island R R ., yearly rental...........................
4 5,000
. * Subj. to call July 1 1916. a Subj. to call 1916. b SubJ. to call any
time.
c Atlantic Avenue general mortgage 5s of 1931 wero subject to call in
1909. but m any of them (how many is not known) have been stam ped,
releasing them from the liability to call.
_ 4 T h eC en tral Trust C o. of New York was trustee of this mortgage until
O ct. 1903. when the Colonial Trust C o . (since consolidated with tho Trust
C o . of America— the latter being merged into Equitabio Trust C o .) was
substituted.
e Includes $ 2 ,000,000 held by Brooklyn Rapid Transit C o.
x Entire amount owned by Brooklyn Rapid Transit C o.
V N o t including $1,627,000 owned by B . It. T . C o.
z N ot including $16,698,000 owned by B . It. T . system .
n Owned by Brooklyn Rapid Transit C o.
S lock.— In the reorganization o f the Long Island Traction, the old $ 3 0 ,­
000,000 stock paid an assessment of $10 per $100 sharo, tho old stock being
reduced to $20,000 ,000 , and $ 7 ,000,000 of 5 % bonds being authorized,
against $ 3 ,000,666 of Long Island Traction.
D iv id e n d s .— First d iv ., 1 % . paid April 1 1909; July, 1 % ; O ct., 1 % .
In
1910, 4 'A % \ in 1911 and 1912, 5 % ; hi 1913, Jan ., 1 ) 4 % ’. A p r., 1 } 4 % \ in
July increased rate to 1 )4 % quar.; O ct., 1 ) 4 % .
In 1914, Jan ., l 'A % \
A p r ., 1 ) 4 % .
In te re s t on B onds, W here Payable.— Interest on the Brooklyn Rapid
Transit mortgage of 1902 for $150,000,000 and tho two Elevated issues Is
payable at the Central Trust C o .; on the Brooklyn C ity R R . refunding bonds
at com pany’s office; on the Nassau Electric bonds, including Atlantic A v onuoand W est Endissues.at the Equitabio T r . C o ., N . Y .; on tho Brooklyn
Queens County & Suburban mortgages and th e Jamaica & Brooklyn first
mortgage at the Brooklyn Trust C o ., B klyn .; and on the Sea Beach lst
mortgage at the New York Consol. R R . C o .’s office, 85 Clinton S t ., B klyn.
On the B. R . T . secured notes of 1912 at c o .’s office or at Central Trust C o.
Secured N o te s .— The notes are secured by pledge o f equal amount of
ls t M . 5s of the New York Municipal R y . C orp.: the bonds of that company
in turn are guaranteed prin. and int. by Brooklyn Rapid Transit and also by
tho New York Consolidated R R . ancf by pledge of $10,000,000 B . R . T .
conv. 4 % ref. bonds. Proceeds of notes are deposited as security for notes
until expended. The notes are con v., $ for $ , Into lst M . 5s of tho M unici­
pal R y . at any time prior to Jan. 1 1916, on and after which date they aro
red. at c o .’s option at 101 and int. on any int. day on 90 days’ notice. Up
to Jan. 1 1914, $301,006 had been exchanged. Remaining notes can only bo
Issued for constr., equip, and oper. o f new rapid transit lines to be operated
by B . R . T . interests. See V . 9 4 , p. 1694- $ 3 9,699 ,006 of tho notes aro
listed on the N . Y . Stock Exchange with authority to add $26,000,006 notes
prior to July 1914 on notice of sale. V . 9 7 , p . 1203.
M ortgag e fo r $150 ,00 0,00 0.— Stockholders authorized March 20 1902
first refunding 4 % gold convertible bonds for $150,000,000. $59,304 ,000 to
retireall tho then existing bonds of tho system (including the $ 7 ,0 6 6 ,6 0 0
Br. R ap. Transit 5s), and the rest for im provts., add’ns and acquisitions,
as needed from time to time. Th e mortgage provides that a fund o f $ 5 ,­
000.000 in bonds or their proceeds be at all times at the disposal of the com­
pany for the purposes mentioned. See V . 74, p. 377. As this fund Is re­
duced for any of the purposes authorized, moro bonds may be authenticated
by trustee and delivered to the company on its order. These bonds can
be converted into stock, par for par, before July 1 1914, and are subject to
call on any interest day until the year 2000 at 110 and Interest; after that
fVt par and interest. See listing applications in V . 81, p. 1856, 1857, for
lst of securities pledged for the bonds; also listing applications in V . 8 2 , p .
517; V . 83, p. 1122; V . 8 5 , p. 1523; V . 86, p. 923, and V . 90, p .7 8 6 .

MAY, 1914.]

ELECTRIC RAILWAYS

B o n d s.— O f the $7,0 0 0 ,0 0 0 50-year gold 5s o f the Brooklyn Tapid Transit,
13.0 0 0 ,0 0 0 went to stockholders for assessment. For description of prop­
erty covered by the mortgago, see V . 6 2 , p . 1138. See also application in
V B6rooEiyn°City R R . mortgage of 1891 is for $6,0 0 0 ,0 0 0 and is a first lien
on the old Brooklyn C ity road and a consolidated lien on the lines acquired
by consolidation in 1890. O f the $ 6 ,000,000 issued, $ 4 ,3 7 3 ,6 0 0 are in the
hands o f the public and the balance is hold in the guaranty fund.
D Stockholders of the Brooklyn C ity R R . July 10 1906 authorized a n e w
mortgage for $ 6 ,925,000 to provide for refunding. V . 8 2 , p . 1437. These
bonds are subject to call after July 1 1915 at 110 and interest.
T h e total authorized issue of first consolidated mortgage gold 5s o f the
Brooklyn Queens County & Suburban R R . is $ 4 ,5 0 0 ,0 0 0 , o f which $1,616 ,­
000 are reserved for extensions, on which they will be a first lien. O f the
$2,8 8 4 ,0 0 0 outstanding, $ 2 ,255,000 in 1898 were endorsed with the guar­
anty of the Brooklyn Heights K B . C o . as to prin. and interest, a n d in Jan.
1899 provision was mado for guaranteeing the remainder o f the payment or
$10 per bond. Both B. Q. C . & S. loans are subject to call in 1916.
T h e Sea Beach R y . 1st 4s aro also guaranteed as to principal and Interest
by the Brooklyn Rapid Transit C o . V . 6 5 , p. 1219.
.
T h e Nassau Electric bonds ar guaranteed (by endorsement on <
each bond)
by the Brooklyn Heights R R . Besides covering the mileage directly owned
they are a lien by a supplemental agreement upon the stock of the Coney
Island & Gravesend R y . and will become a direct lien o n ^ n n n nnn honds
become merged in the Nassau Electric. O f the total o f $ 15,000 ,000 bonds
authorized, the unissued remainder ($3,492,000) is for prior liens, See
listing application in V . 7 2 , P- 342.
M I L E A G E .— Th e system includes:
T o ta l
S id in g s ,
2d '
Is!
m.
Ac.
T ra c k .
T ra
Nam e—
___
„ ck.
4.183
0.198
1.851
Brooklyn Heights R R ................................
2.134
22.713 228.996
100.685
Brooklyn C ity R R - - - - - - — - — --1105.598
0 5 .5 9 8
61.922
3.223
28.987
B klyn. Queens C o. & Suburban R R - 29.712
10.230
142.936
65.470
67.236
Nassau Electric R R ...........- - - - .............. 67-236
7.486
348
3.188
Coney Island & Gravesend R y ----------. 3.950
5.669
3.301
1.184
1.184
South Brooklyn Railway . . . . . . . . .
1
184
26.935
8 .460
8 .926
9.549
Prospoct Park & Coney Island R R —
54.887
7.431
23.147
Coney Island & Bklyn. R R ----------------- 24.3 0 9
New York Consolidated R R .—
64.272
5.802
29.221
Elevated lines............... - ........................ 29.249
55.642
21.478
17.082
Surface Iin as_____________________ - - - lt17.082
-v o z
)--Trackage on N . Y . & Brooklyn Bridge-—
3.755
231
1.762
1.762
Elevated lines----------------------------------1-762
3.509
—
1.707
Surface lines_________________________
1.802
Trackage on Williamsburgh Bridge—
3.270
1.635
Elevated lines-----------------------------------, 1.635
1-635
3.700
2 l8
1.741
Surface lines_________________________ , 1.741
83.633 667.162
.296.943 286.586
E Q U I P M E N T , Jan. 31 1 9 1 4 — Closedcars, 1,309: open cars, 1,178: con­
vertible. 671; semi-convertible, 876: miscellaneous, 4 9 5 . T o ta l, 4 ,5 2 9 .
R E P O R T .— T h e annual report for 1912-13 will be found in V . 97, p. 361­
376. Passengers carried during the year ended June 30 1913 amounted to
62 6 ,3 0 4 ,1 5 6 , an Increase o f 27.748.362 over previous year.
IN C O M E A C C O U N T B R O O K L Y N R A P ID
T R A N S IT A N D
CON­
S T I T U E N T C O M P A N IE S — Y E A R S E N D I N G J U N E 30.
Revenue fro m O perations—
1913.
i ? I 2Xoi
T r a n s p o r t a t io n ......................... ..............$ 2 3 ,865 ,260 $22,949 ,021 $21,716 ,486
M iscellaneous___ _____________________
287,028
277,529
270,057

49

June, 2 1 4 % ; D e c ., 6 % . On the N . Y . Consol. R R . C o. in 1913, June, 5 % .
Sept., 1 ? 4 % ! D e c ., 1 M % : in 1914, M arch , 1 M % On com ., first d iv .,
5 % , paid June 10 1910; D e c .. 2 1 4 % In 1911. 5 % .
In 1912. June,
2 '-4% ; D e c ., 6 % .
On N . Y . Consol. R R . in 1913, June, 5 % ; Sept.,
1 M % ; D e c ., 1 M % ; in 1914, M a r ., I N ­
R O A D .— Embraces 64.272 miles o f elevated track and 55.642 miles or
surface track. T o ta l, 119.914 miles. Th e N ew York & Brooklyn Bridge
has 3.755 miles of track and William sburg Bridge 3.270 miles of track
In addition. W hen all the lines embraced in contract with the city have
been completed, will consist o f approximately 293 miles of track, including
trackage rights over the Astoria and Corona (Queens County) lines enjoyed
m utually with the Interborough R . T . C o.
O F F IC E R S .— Pres.. John I I . Hallock; V .-P . & T rea s., C . D . M eneely:
C o m p ., Howard Abel; Sec., J . H . Bennington.— V . 95, p. 1207, 1274, 1608;
V . 96, p. 3 60, 653.
(a) N ew Y o r k W u n ic ip a l R ailw a y C o rp o r a tio n .
(.See M a p page 21.)
O R G A N I Z A T I O N .— Incorp. in N . Y . on Sept. 27 1912 to operate the
enlarged transit system (elevated roads and subways) covered b y the agree­
m ent between the company and the city, and to construct and own such
parts o f the system as are scheduled for private rather than public owner­
ship. V . 95, p . 8 18. Th e lines to bo constructed b y the city are to be
leased to the company for a period o f 49 years from Jan. 1 1917 (with pro­
vision for re-capture by the city after 1 0 years), and are to be operated by
the company in connection with the existing railroads o f the N e w Y o r k Con­
solidated R R . C o . (as enlarged and extended) as one system , and for a single
farin M arch 1913 the P . S . Commission approved a contract with the Brook­
lyn Heights R R . for the use o f the Lutheran Cem etery line.
L E A S E T O N . Y . C O N S O L . R R .— On M a r. 26 1913 the P . S. C om m ,
sanctioned the lease and assignment to the N . Y . Consol. R R . o f all rights
under the contract with the city respecting new rapid transit lines.
(See
V . 9 6 , p. 3 60. 947). Th e company also transferred to the N . Y . Consol.
R R . the certificates for extensions and additional tracks, as well as certain
real estate in Brooklyn and the above-mentioned contract with the Brooklyn
Heights R R . regarding the Lutheran Cemetery line. Th e lease calls for
6 % dividends on the N . Y . Municipal R y . Corp. stock.
Th e Municipal R y . Corp. agrees to furnish all the money necessary to
carry out the terms o f the dual system contracts and has the option o f doing
all the construction work and acquiring all the equipment, or o f requiring
the Consolidated C o . to do so on reasonable notice.
On M ar. 20 1913 the Pub. Serv. C om m , approved a m tge. to secure an
auth. issue of $100 ,00 0,00 0 5 % bonds and authorized the issuance o f $ 4 0 ,­
000,000 bonds thereunder, the proceeds to be applied as shown in V . 96,
P In June 1913 the P . S. Commission granted authority to issue $400,000
additional stock, making $500 ,00 0 authorized. Later in the year another
$400,000 were authorized.
ST O C K A N D BON DS—
Date.
Interest. Outstanding. M atu rity.
Stock, $2,000,000 ($100).................. All to be owned by N . Y . Consol. R R .—
First mortgage, $ 1 00 ,00 0,00 0] 1912
5 g J-J
$ 3 9 ,699 ,000 Jan 1 1966

($ 1 ,000 & $500), gold.c*&r\Int. at Central Trust C o.. N . Y .. Trustee.

Bonds .— Guar. prin. & int. by B . R . T . and N . Y . Consol. R R ., and are
pledged as security for B . R . T . secured notes. Semi-annual sinking fund
after July 1 1918 (minimum, .3 1 7 5 % ; m axim um , H % ) - Bonds are subject
to call on 90 days’ notice in any amount at 107}4-— V . 9 5 , p . 818; V . 96.
p. 360, 8 63. 947, 1773.

(2) N assau E lectric R a ilro a d .— A trolley road.
O R G A N I Z A T I O N .— Chartered M a r. 13 1893 under the laws of New
Y
o
rk . Opened in July 1895 and in April 1896 leased the Atlantic Avenue
T o ta l.............................................................$ 24,152,288 $ 2 3 ,226 ,550 $21,986,543
R R ., & c. A s stated above, the Rapid Transit C o. owns or controls $ 8 ,­
4
99,700
out o f the $ 8 ,5 0 0 ,0 0 0 common stock o f the N assau Electric and
MahRentmce o f w ay.....................................$ 1 ,678,124
$ 1 ,636,713 $1,423,108
2 ,125,580 $ 6,393,975 out o f the $ 6 ,5 0 0 ,0 0 0 preferred stock.
2 ,155,134
M aintenance o f equipment.................. 2.202,208
1,339,552
1.404,160
Lease.— W as formerly leased for 999 years from April 1 1900 to Brooklyn
Operation of power plant.........................
lA g i. iz a
5,298,863 Heights R R ., b u t, coincldently with a decision compelling the issuance of
5,450.673
Operation of cars---------------------------------5 ,635,457
1,043,585 transfers from one leased line to another (V . 79, p. 102), the lease was ter­
978,611
Damages and legal expenses--------------884,237
707,368 minated on Juno 30 1904. For still another decision as to transfers, see
733,294
General expenses----------------------------------746,871
252.763
227,004 V . 82, p. 1323: also V . 85, p. 404.
Freight and mall expenses------------------264,324
,
,
.
711
1,306
American R y . Traffic C o . exp enses..
1,112
In June 1907 a 10-year mortgage for $5,000,000 was authorized to secure
1,465.535 certificates of indebtedness issued from time to time to the Brooklyn Rapid
1,775,041
T a xes...............................- ............................ 1,750,083
Transit for advances made for Improvements, & c., but in July 1908 the
T o ta l............................................................ $14,583 ,539 $ 1 4,387 ,100 $13,631,901
Public Service Commission denied application for approval o f m tge.
V . 84,
N e t earnings__________________________$9,568,749 $8,8 3 9 ,4 5 0 $ 8 ,354,642 p. 1181. 1246. 1550; V . 87, p . 224.
297,524
317,991
Other income__________________________
339,947
STOCK A N D B ON DS—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity .
........
............. ..
$8,500,000
--------------$8,652,166 Com m on stock, $8,5 0 0 ,0 0 0 —
T otal Income_________________________ $9,908,696 $9,157,441
M -N
6,500,000
see text
5,503,687 Preferred 4 % cum, $ 6,500,000 ____
5.446,219
Fixed charges (net)------------------------------- 5,411,768
B o nds.— For details see Rapid Transit statement above.
R
O
A
D
.—
Embraces
142.936
miles
of
single
track.
$3,148,479
Surplus________________________________ $4,496,928 $3,711,222
Atlantic Avenue R R . (now part o f Nassau Electric) owned the double­
$88,535
Special appropriations.
Dividends. - - - T - T - 7 - '™ V . V ( 5 K % ) 2 M 0 . 7 7 0 (5) 2,239',851 (5)2,242 ^690 track steam road (since converted to electricity) from Jamaica to Flatbush
Avenue Station in Brooklyn, 914 miles (19 miles of track), which is leased
B a l a n c e . .. ............................................... $ 2 ,056,158 $ 1 ,471,371
$817,254 for 99 years from June 1 1877 to the Long Island R R . C o ., affording that
company entrance into the city of Brooklyn— rental, formerly a percentage
O F F IC E R S .— P r e s .. Tim othy S. W illiam s; Chairman of Board. Nicholas of receipts, was changed in 1895 to $60,000 yearly. V . 61, p. 828. L iti­
F . B r a d y V .-P . & T rea s., C . D . M eneely; V .- P ., Slaughter W . H uff. Sec., gation has arisen with Long Island R R . regarding the use o f Atlantic
See V . 74, p. 1139. In O ct. 1910 N . Y . Court o f Appeals decided
J II. Bon’nhigton: C o m p ., Howard Abel. Offices, 85 Clinton S t ., B klyn. Avenue
that the city had the right to tear up rails, but c 't y has taken no action
V 96 p 61 134. 200, 359. 715. 8 62,102 0, 1088, 1555; V . 97. p . 175. 297.
361, 376, 4 4 2 , 520, 594. 1203, 1285, 1293, 1897: Y . 9 8 . p. 72, 155, 303. 911, looking to the exercise of the right.
D I V I D E N D .— First d iv. on pref. under lease was paid D ec. 31 1900, 4 % :
1 0 7 0 ,1 5 3 5 .
1901
% per annum;
I9U1 to 1907
lUUf incl.,
inci., 4
avo
annum, in
m 1908,
louo, N o v ., “2 %
/ c ;. in 1909, N o r .2 (
C O M P A N IE S C O N T R O L L E D B Y B R O O K L Y N R A P ID T R A N S IT C O .
in 1910 and 1 9 1 1 ,4 % ; in 1912, M a y , 2 % ; N o v ., 2 % reg. and 4 % on account
(1) New Y o rk C o n so lid a te d R R .
o f arrears. In 1913, M a y , 2 % ; N o v ., 4 % .
O R G A N I Z A T I O N .— Incorp. at Albany on N o v . 30 1912 as a consolida­
A N N U A L R E P O R T — For year ending June 30 1913: Gross, $4,884,255;
tion of the Brooklyn Union Elevated R R ., Sea Beach R y . and Canarsie net, $1,680,457; other income, $200,550; charges, $1,266,182; surp .,$614,825
RR
V 95 P. 1608.
Brooklyn Rapid Transit owns or controls $ 1 3 ,4 3 0 ,­
831 out of tiio $ 13,900 ,000 common stock and $4,7 8 5 ,9 8 5 out o f the $ 5 ,(4) C o n e y I s la n d & B r o o k l y n R R .
In D ec. 1913 the Coney Island & Gravesend R y . (subsidiary o f the B klyn.
0 °O ?vns a^l tho°mitstanding stock of the N . Y . Municipal R y . Corn, (which R ap . Transit) received permission from the P . S . C om m , to acquire 26.370
holds the contracts mado with the C ity o f N ew York in 1913 for the opera­ sharos of the stock ol this com pany.
tion o f subways, & c.) and guarantees its bonds, p . & L , jointly with the
O R G A N I Z A T I O N .— Chartered D ec. 10 1860. Cars commenced run­
Lease ’— A ll rights, & c ., of the N . Y . Municipal R y . C orp. under its con­ ning over the Brooklyn Bridge Feb. 15 1898. See V . 66, p. 383.
Brooklyn C ity & Newtown was leased in N o v . 1897 for 999 years. In
tract with the city have been leased and assigned to the Now York Consoliriativl RR
For terms, see statement o f N . Y . Municipal R y . Corp. below. 1900 acquired all the stock of that com pany, but legal proceedings com­
D iv is io n o f E a rn in g s w ith C ity .— A s the Now York Consolidated holds, pleting merger with Coney Island & Brooklyn were not effected until 1910.
On M arch 8 1910 and July 30 1910 Pub. Serv. C om m , sanctioned the is­
under assignment and lease, all the rights acquired b y the N ew York M unici­
pal R y Corp in the latter s contracts with the city, all the earnings will sues o f $151,000 and $490,000, respectively, of 1904 consol, m tge. bonds for
lm provm ’ts, &c. V . 90, p. 697; V 91, p . 336. Being unable to sell these
accruo to It. Th e division of earnings will be on the following basis:
1. T o the com pany. $ 3,500,000, as representing the net earnings o f the bonds. Pub. Serv. C om m , in Jan. 1911 auth. the issue of $500,000 notes (see
existing railroads which aro to form part of the new rapid transit system . below) secured by pledge of $ 625,000 of aforementioned bonds. V . 92, p . 59.
Out of this reservation the company pays interest charges on capital in ­
Wage In c re a s e .— On Jan.2719 14 announced an increase of 1 0 % in the wages
of employees, putting them on the same basis as those of the Brooklyn
vestments prior to M ar. 19 1913 in the existing railroads.
2 T o the com pany, 6 % on its new investment in construction and equip­ Rapid Transit C o ., which run from 24 to 28 cts. an hour. V . 9 8 , p . 386.
m ent prior to the^beginninR of permanent operation and thereafter interest
STOCK A N D BONDS—
D a te .
In te re s t.
O u ts ta n d in g . L a s t d ie .A c .
Stock, $3,500,000 (par $ 1 0 0 )________
Q -F
$2,983,900 Jan '14, 6 %
aD3 . T o tho^city.interestand 1 % sinking fund on its investment in cost of First consolidated m ortgage! 1898
4 g J-J
*2,000,000 July 1 1948
construction.
. ,
, ,
»
.
.
..
Mercantile Trust C o ., New Y ork, Trustee.
$ 2,000,000, g o ld ---------- n t f ‘j
4. A n y surplus remaining, after making provision for a moderate contin­ Consol
4 g J-J
1,500,000 Jan 1 1 9 5 5
mortgage,$10,000,000 1904
gent rcservo fund, is to be divided equally between the company and the
Mercantile Trust C o ., New Y ork, Trustee.
gold ($ 1 ,0 0 0 ).......... — c * t f
city. Th e company's preferential payments are to be cumulative.
1908
6 % F -A
6,000 Aug. 1 ,’ 13-’14
Car trust bonds, $30 ,0 0 0 ------STOCK A N D BONDS—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Interest at Brooklyn Trust C o.
(V 8 6 , p 420, 480)
1911
6 J-J
500,000 Jan 1 1915
C om stock, $13,900 ,000 ( $ 1 0 0 ) ................................
$ 1 3 ,900 ,000 M a r. 1 4 . 1M
Coll g notes $500,000 ($1.000)
___
Equitable Trust C o ., New Y ork, Trustee.
Pref stock, $ 5 ,000,000 ($100)........................... - - - 5 ,0 0 0 ,0 0 0 M a r .T 4 .l M
n
tf
-----------5 g F -A
16,000.000 Feb 1 1950
Brooklyn C ity
& N ew tow n ] 1889
5 J-J
2 ,000,000 July 1 1939
Bklyn Un El 1st *M , $
1 6 ,0 0 0 ,­ 1899
first mort $2,000,0 0 0 .-n tf\ M e rc a n tiIe Trust C o ., N . Y . , Trustee.
000, gold, 4 % till 1905, Interest at Central Trust C o ., N ew Y o rk ,
Real estate mortgages-------------- --------5%
288,062 -------------------Trustee.
since 5 % (81,600)
1899
4 g F -A
7 ,0 0 0 ,0 0 0 Aug 1 1949
Kings County El 1st M , gold,
* Includes $ 1 1 ,0 0 0 held in treasury.
$ 7,000,000 ($1,000)------ c* In t. at Central Trust C o ., N . Y . , Trustee.
B o nd In te re s t.— Interest on all above bonds payable at C ent. T r . C o .,N .Y .
650,000 Sept 1 1916
Sea Beach R y 1st M , $ 650 ,­ 1896 4 M -S
B onds.— O f the new $10,000 ,000 bonds, $4,0 0 0 ,0 0 0 are reserved for prior
000 ($1,000 and $ 1 0 0 ) . . .c W . M . Grinnell, W . O . Platt and W m . M a n ,
liens, $625,000 are pledged under coll, gold notes of 1911 and $3,875,000 are
Trustees.
reserved for extensions and Improvements. N o sinking fund and bonds
B onds.— Bonds of the Brooklyn Union and Kings County Elevated R R . cannot be called. Notes are subject to call at 101. The coll, trust notes
companies aro guar. p. & 1. by B klyn. Heights R R ., guaranty to bo stamped
of 1911 fell duo on Jan. 1 1914, but were renewed for 1 year to Jan. 1 1915.
upon bonds upon presentation. In Feb. 1902 began stamping bonds with
R O A D .— First track, 2 4 .3 0 9 miles; 2d track, 23.147 miles; misc. track,
guaranty. Certain days each month aro designated for stamping. See
V . 9 8 p .1 5 5 - Both issues are listed on N . Y . Stock Exchange. Sea Beach 7.431 miles; total operated, 54.887 m iles. 462 passenger and 29 service cars
1st 4s aro guar., p. & i., by B . R . T . C o. N o t subject to call. In t. at
D I V I D E N D S .— In 1895, 6 % ; in 1896, 5 % ; in 1897. 6 % : in 1898, 8 M % ;
office of N . Y . C onsol. R R . C o ., 85 Clinton S t ., Brooklyn, N . Y .
V . 67, p. 955.
In 1899, 1 0 % ; in 1900, 1 0 % ; in 1901, 1 3 M % ; in 1902,
D I V I D E N D S .— The first d iv ., o f 2 % , on the old B klyn. Union Elevated 1 6 % ; in 1903, 1 6 % ; in 1904. 1 6 % : in 1905, 1 0 % ; in 1906. 8 % ; in 1907,
R R . pref. stock was paid June 29 1901: in 1902 and 1903, 3 % : in 1 9 0 4 ,3 1 4 % ; F e b ., 2 % ; M a y dividend passed. N one since until Jan. 1 9 1 4 .when a div.
In 1905. 4 % ; in 1906, 4 1 4 % : in 1907 to 1911, Inch, 5 % per annum: in 1912, of 6 % was paid. V . 9 8 , p . 235.




MAP SHOWING THE

. ec

SURFACE

TROLLEY

LINES

M OR RIS PARK

B R O O K L Y N
RICHMOND HILL
V / / < X X //V

T R A N S I T

S Y S T E M

CANARY
LANDIF

WOODVIAVENv

GLEN BA L E
IORONA

HEIGH

LOLLEGi
POINT

iR IG H TO N
\BEACH

ieran

I^Cemetery

'
CORONA

M ID D LE

kVILLAGi

F L U S H IN G
ha

of the
Evergreens p -S

r

M.t. OJivet
. Cem.
EAST p p f c .
'ILLIAMSBUBG
: ld HYATT

VASPETH

IEJ.G HT.S-;.
MALVINA

1m

yy

B O W E R Y BAY
CHARLOTTEVILLE -

’Calvary;

ELECTRIC RAILW AYS

M ANHATTAN
\BE A C H

^ — Cypress Hills
C L Cemetery

St. Johns
Cemetery

IORONA PARK'

R A P ID

ORA V K S E S D y .V y
BAY

BERLINViLLI

NoTtom^Pt.

St. Michaels
LAOREL

hillT

>

i

Calvary. \ G ^
BERRIANS

00
.

K I i
Ik S 3

hort Hamiltc

•■-i-■•T'
icouW-

[-hV'CKS
rcptyw*
---- AVENUJ

[iTTrnRSTr

avenu e

'owanus

[V ol . xcviii




:

m ay,

1014.j

ELECTRIC RAILW AYS

CM




ELECTRIC RAILWAYS

22

R E P O R T .— For years ending June 30:
12 A lo n th s — •
Gross.
N e t.
O th. In c . I n t . , T a x ., A c B a l.S u r.
$ 1 ,646,603
$611,110
$19,411 $411,083 $218,548
1012-13..................
1911-12.............................. 1,415,133
421,398
3 1,234
426,736
25,896
1910-11_________________ 1,538,003
555,995
25,955
400,814 181,136
1909-10____________
1.470,672 458,841
2,026
369,090
91,777
O F F IC E R S .— Pres., S. W . H uff; V .-P .& Treas., O . D . M eneely; Sec.,
J. II. Bennington; Comptroller, Howard A b el.— V . 9 3 , p. 1105; V. 94, p.
7 67. 1185, 1695; V . 95, p. 1122; V . 96, p. 1020; V . 97, p. 1898; V . 9 8 , p.
2 35, 3 0 3 , 386.
M A N H A T T A N B R ID G E T H R E E -C E N T L IN E .
O R G A N I Z A T I O N .— Incorp. in Now York. Began operat’g in Sept. ’ 12.
On July 10 1912 the Board of Estim ate & Apportionment granted a
fra7ichi.se to operate over the proposed route from Flatbush Avenue
(Brooklyn) to M anhattan. Th e P . S. Commission on Aug. 14 1912 ap­
proved the franchise. See V . 94, p. 912; V . 95, p. 420.
For two decisions handed down by the Appellate Division ot the Supremo
Court favorable to the com pany, see V . 97, p. 1733.
STOCK—
D a le .
In te re s t.
O u ts ta n d in g .
M a tu r ity .
C om m on, $ 1 ,0 0 0 ,0 0 0 .............................
Q -M
$450 ,00 0 June’ 1 4 ,'I K
Stock.— O f the $4 5 0 ,0 0 0 stock reported outstanding, it was understood
In April 1914 that some was still in treasury, time not yet having expired
when stockholders might subscribe.
R O A D .— Operates about 2 K miles of track from Canal St. and Bowery,
N . Y . , over M anhattan Bridge, through Flatbush A v e ., extension to Ful­
ton S t., B klyn. Contemplates extension from Fulton S t ., B k lyn ., to Long
Island R R . depot, and from Canal St. (New York) to th eN o rth River, m ak­
ing a line from the North River to the Long Island R R . depot in Brooklyn.
D iv id e n d s .— Initial quar. dividend o f l K % paid M a r. 1914 (V . 98, p .523);
June, 1 K % »
O F F IC E R S .— Pros., Frod’k W . Rowe; V .-P ., John C . Brackonridge;
Sec., W alter H am m itt; T reas., Ed. T . Horwill.— V . 90, p. 698; V. 91, p.154;
1767; V . 94, p. 912; V . 95, p. 111. 236, 420, 618, 1331, 1684; V. 96. p. 285,
1557, 1840; V . 97, p . 1733; V . 98, p. 523.
P R O S P E C T P A R K & C O N E Y ISL A N D R R .— A trolloy road.
O R G A N I Z A T I O N .— Controlled by Long Island R R ., but on June 17
1899 the Brooklyn Rapid Transit Co took possession under a lease for 999
years to tho Brooklyn Iloights R R . and equipped tho road electrically.
(V . 68, p. 1224; V . 69, p. 654.)
In Feb. 1907 this lease was assigned to
the South Brooklyn R y. V . 8 4 , p. 569.
Rontal was $40,000 per annum
and expenses until 1909, when amount increased to $45,000 .
In considera­
tion o f a guaranty by Long Island R R ., annual int. on tho groater part of
Prospect Park & Conoy Island’s bonded debt has boon reduced'from 6 and
7 % to 4 K % .
See V. 56, p. 42; V . 62, p. 187. $172,600 stock, all tho 2d
M . 6s, $171,200 o f income 6s and $80,000 of 1st M . 6s are owned by L .I .R R .
STOCK A N D BON DS—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity .
«tinn
corn non
Second mortgage," now" first?
1886 4> 4~ F -A '
3 4 0 ’, 000 Fob * Y 1926
($1,000 oach)..................c*&r\
1886 6 F -A
160,000 Feb 1 1 9 2 6
Third mortgage, now second, (
1891 4J4 g M -S
96,000 M ar 1 1931
gold ($1,000 oach)— c*&r\
1891 6 M -S
104,000 M ar 1 1931
I n t e r e s t on above mortgages payablo at U . S. M tg e . & Trust C o ., N . Y .
Income bonds, non-cum _____ 1880
6 M -N
250,000 M a y l 1920
R O A D .— Embraces 26-93 miles of single track.
E A R N I N G S .— Now included in those of Brooklyn Rapid Transit. The
Prospect Park & Conoy Island received as rental from Brooklyn Heights in
year ending D ec. 31 1912, $45,000; other income, $33,602; total, $78,602;
Interest, taxes, & c ., $79,920; deficit, $1,317.
VA N B R U N T S T R E E T & ER IE B A SIN R R .— A trolloy road.
O R G A N I Z A T I O N , & c.— Chartered Fob. 15 1861. Stock, $200 ,00 0, all
Issued; par, $10. Bonds, $75,000 1st m tge. authorized; $31,000 out.
Track, 2.78 miles, changed to electricity in 1898. 6 pass. cars.
For year
ending June 30 1913, gross, $39,949; not, after taxes, $6,906; other incomo,
$691; interest, & c., $1,950; balance, $5,650.
O F F IC E R S .— Pros., John F. M urphy; V .-P ., D . W . Sullivan; Sec. and
T reas., W yllys Terry. Office, 264 Van Brunt S t., Brooklyn, N . Y .

BUFFALO, N. Y.

[V o l . XCVIII

was leased to Buffalo & Lake Erie Trac. for 999 years. Stock $100,000
(V . 88, p. 748), all owned by B uff. & Lako Erio Trac. C o.
Has universal
transfers throughout city o f Buffalo through contract with Intcrnat. R y . C o.
In N o v . 1912 P . S. C om m , authorized $160 ,00 0 adiiitional bonds for
construction and im pts., to be sold at not loss than 80. These aro includod
in tho amount reported outstanding below. V . 95, p. 1471.
B ON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
1st mtgo, $ 1 ,5 0 0 ,0 0 0 , g old / 1908
5 g J-D
$1 ,1 6 0 ,0 0 0 Dec 1 1928
($1,000), g u a ra n te e d -,c tf 1Interest at New York Trust C o ., 'I’ rustce.
Bonds aro subject to call on or before Dec. 1 1913 at 110 and int. They
have no sink. fund.
Remaining bonds aro reserved for bettermonts and
extensions at 8 5 % of cost. Bonds guaranteed prin. and int. by Buffalo
& Lake Erio Traction C o. V . 90, p. 235.
R O A D .— Is a double-track road about 4 .98 miles long. Began operating
D ec. 22 1909.
O F F IC E R S .— Pros., R . E . Griscom; V .-P s ., M . D . Evans and M . W .
Dodge; Sec. & A sst. T reas., M . D . Evans; Treas. & Asst. Sec.. A . F Tides-

well.— V. 88, p .2 9 3 ,7 4 8 ; V. 90, p .2 3 5 ; V .9 5 . p. 1471.

BUFFALO & DEPEW R Y.— A trolley road.
O R G A N I Z A T I O N .— Incorporated on April 27 1897. Tho Independence
Trust Co. of Philadelphia owns about three-fourtlis of tho stock and tho
entire $350,000 bonds.
In June 1907 the Railroad Commission granted permission to the Buffalo
Genesee & Roch. R y. to build an extension from Depew to Rochester.
Certain amount of grading completed, but no track laid.
ST O C K A N D B O N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
___________
$305 ,00 0 ......................
Stock, $350,000 ($ 10 0 ) . ___________ _
B u ff & D 1st M , $ 3 5 0 .0 0 0 ____ 1901
5 J-J
350,000 Jan 119 3 1
Loans payablo D ec. 31 1 9 1 3 - - ____
___________
119,533 ------------------E A R N I N G S .— Year ending June 30 1912, gross, $18,338 ; deficit under
operation, $4,0 4 9 . In 1910-11, gross, $18,071 ; deficit under oper., $4,166.
R O A D .— Operates a double-track road from Buffalo to Depow, 13.59
miles of track; 60-lb. rail; 5 cars.
O F F IC E R S .— Pres., W m . L. N ovin; V .-P ., J. Ernest Richards; Sec.
and Troas., John T . M ooney. V . 79. p. 2695.

BUFFALO SOUTHERN RY. CO.— A trolloy road.
Receivership.— N . A . Bundy was appointed receiver Sept. 26 1913.
O R G A N I Z A T I O N .— Incorporated In New York on Aug. 26 1904 and is
a consolidation of tho Buffalo Hamburg & Aurora R y. and tho Buffalo
Gardonvillo & Ebonozer R y.
V . 79, p. 2146. Franchises porpotual. Has
trackago rights in Buffalo over tracks of tho International Traction C o.
ST O C K A N D B O N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
Stock, $2,000,000 ($1 0 0 )......................
....................
$547,200 _________ _
1st mtgo, $2 ,0 0 0 ,0 0 0 , gold/ 1904
5 g A -O 15
600,000 Oct 15 1934
($1,000) ............ ......... c * . n t f Int. at Seaboard N at. Bank, N . Y . , or at
l Fidelity Trust C o ., Buffalo, 'rrustoo.
B O N D S .— N o s. f ., but from $50,000 to $100,000 bonds aro subject to call
at 110 and int. on any int. date upon 3 m onths’ notice. $1,400,000 bonds
reserved for future extensions and equipment.
E A R N I N G S .— For cal. year 1913, gross, $ 79,902 . In 1912. gross,
$78,442 .
R O A D .— Operates from Buffalo to Hamburg, East Hamburg and Or­
chard Park, 1 5 K miles; also has a lino from Buffalo through Gardonvillo
and Ebenezer to Lion’s Park, 5 K miles. A n extension to East Aurora,
15 miles, is under construction, 5 K miles completed. 60-lb. T and 80-lb.
girder rail.
O F F IC E R S .— Pres., W m . M . Griffith, Now York; V .-P ., Goo. F . W olls,
East Aurora. N . Y .; Sec., II. M . Gear, Buffalo; Treas. & Gon. M g r .. N . A .
B undy, Buffalo.— V . 86. p. 419.

BUFFALO & WILLIAMSVILLE ELECTRIC RY.
O R G A N I Z A T I O N .— Chartered A u g .10 1891.
In M a y 1904 authorized
capital was increased from $75,000 to $3 ,5 0 0 ,0 0 0 , and in July 1904 a now
mortgage for $3,500,000 was made to provide for extension to Rochester.
ST O C K A N D B O N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
Stock ($3,500,000 au th o rize d )---------$75,000
1st mtge. $3,500 ,0 0 0 , gold/ 1904
5 g J-J
127,500 July 1 1944
($500 and $ 1 ,0 0 0 )..................[In t. at C om ’wealth Tr C o .. Buffalo, Trustoe
B onds.— Aro subject to call on any interest date at 105.
E A R N I N G S .— For cal. year 1913. gross, $ 44,242 . In 1912. gross,
$44,882 .
In 1911, gross, $42,839 .
R O A D .— 6.65 miles of track, Buffalo to W illlam syille. An extension
from Wllliamsville to Rochester, 60 miles, is contemplated; has been com­
pleted in village of Batavia, 4 .48 m . of track. Permission to build remain­
der has been granted by Railroad Commissioners. Rails 80-lb. 1 and 90lb. grooved girder.
O F F IC E R S .— Pres., L . L . Lowis Jr.; V .-P . and Gen. M g r ., L . L . Grove;
Sec., Godfrey M organ; T reas., L. IC. W arnick.— V . 84, p. 1306.

B U F F A L O & L A K E E R IE T R A C T IO N C O .— A trolloy road.
D e fa u lt.— The company having dofaidted on tho Int. due N o v . 1 1912 on
the 1st & ref. M . 5 % bonds (M a y & N o v . 1913 int. also defaulted), a pro­
tective committee requested tho bondholders to deposit their bonds with
Equitable Trust C o ., 37 W all S t ., N . Y . , as depositary, or tho Girard Trust
C o . of Phila. as sub-depositary.
The aforesaid committee also drew up a plan oi reorganization (see
V . 97, p. 297, but in D ec. 1913 tho plan was abandoned. Negotiations for
another plan are under w ay.
O R G A N I Z A T I O N .— Incorporated in Now York and Pennsylvania in
D ec. 1906 and is a consolidation of tho Hamburg R y ., the Dunkirk & Frodonia R R ., the Buffalo Dunkirk & Western R R ., tho Lako Erie Electric
Traction C o. and the Erie Rapid Transit C o. Leases tho Erio Electric
M otor C o . for 999 years, which company leases tho Erio C ity Passenger R y.
for 999 years from Oct. 1 1888 and tho Erie Reed Park & Lakeside Street
R y. for 999 years from M arch 1 1901. In 1909 leased tho Buffalo &
Lack. Trac. C o . for 999 years. V . 88, p. 1001. Also owns all tho stock
o f this com pany, and guarantees the bonds. Also owns all stock ($750,000,
I N T E R N A T IO N A L T R A C T IO N C O .— Trolloy (see M a p , p. 23).
all out) o f tho Dunkirk St. R y ., which company has a franchise In Dunkirk
and has built about 5 miles of track.
Tho United Gas & Electric Corp. (see statement of company under New
The Niagara & Erie Power C o. is controlled by the B uff. & Lake Erio York) owns over 5 0 % of Internat. Trac. C o. com . stock.
V. 94, p. 1383.
Trac. C o. and the Niagara Lockport & Ontario Power C o. interests, and
In Dec. 1912 tho Pub. Serv. Com m , approved tho reorganization plan,
its bonds are guar., p ., i. & sk. fd ., one-half oach, by these two companies.
calling for exchango of old coll, trust 4s, $ for $ , for now col. trust 4s of
Internat. Trac. C o. duo July 1 1949, and limiting the Issue to $ 18,335 ,­
ST O C K A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
The fow remaining
C om m on, $ 5 ,0 0 0 ,0 0 0 -........................................................$4,654,100 .......................... 000 Instead of tho $30,000,000 proposed. V . 96. P- 03.
.................... 2 ,500,000 ....................... bonds of 1890 which did not assent to plan were called lor payment on
Pref, 5 % , $ 2 ,500,000, cuml ........
July 1 1913 at 110 and int. V . 96, p. 1021.
from July 1909____________ /
1st and ref mtgo, $ 1 2 ,0 0 0 ,-/ 1906
5 g M -N
7,066,000 N o v 1 1936
O R G A N I Z A T I O N .— Organized on Jan. 18 1899 under N J laws and
000, gold ($ 1 ,0 0 0 )-------c * t f [Interest at New York Trust C o ., Trustee.
acqured all the electric railways connecting tho cities of Buffalo, Niagara
Erie El M 1st mtgo, $ 2 0 0 ,0 0 0 /
1889
6
g
J-J 148,000 Jan 11919 Falls, Lockport, North Tonawanda and Tonawanda, together with all the
($1,000), gold-------------- c t f [Central Trust C o ., trustee. Now York C ity.
street railway systems In all of said cities: also the electric railway connecting
Erie El M 2d m tge, $ 1 5 0 ,0 0 0 /
1892
6
g
J-J102,000 Jan11919 tho villages of Depow and Lancaster with Buffalo.
It also acquired the
($1,000), g o ld -.............. c t f [Central Trust C o ., Trustee, Now York.
Canadian Electric Railway, traversing tho entire length of the Queen Vic­
Erie El M 1st ref sink fu n d ,/
1901
5 g A-O
1,000,000 Apr
1 1941 toria Niagara Falls Park and connected it with the American system by the
$ 1 ,250,000, gold ($ 1 ,0 0 0 ).(Interest at Now York Trust C o ., Trusteo. acquisition of the steel arch bridgo at Niagara Falls and tho Suspension
Cannot bo called_____ c * t f [ Now York C ity.
Bridge between Queenstown and Lowiston, which bridges have beon
Hamburg Ry 1st M , $ 7 5 0 ,-/ 1906
4 g M -N
745,000 N o v 1 1926 equipped with trolley tracks. Owns entire stock and $■1,984,oOO bonds of
000, gold ($ 1 ,0 0 0 )---------- t f l l n t . at Equitable Trust C o ., N . Y . , Trusteo.
the International R y. C o. Has traffic agreement with Niagara Gorgo R R .
Dun & Fred ref M , $ 1 0 0 ,0 0 0 ,/ 1902
5 g J-J
39,000 July 1 1952 for tho operation of cars over tho latter’s 8-milo lino. Contract runs to 1941.
gold ($100, $500 & $1,000) [Fidelity Trust C o ., Buffalo, 'rrustoo.
trik e .— On April 6 1913 a strike was begun on tho company's lines, but
Niagara & Erie Pow 1st M , /
1911 5 J-J
510,000 Jan
1 1941 on SApril
12 1913 tho men returned to work under an agrooment by the com­
$ l,2 5 0 ,0 0 0 g ($ l,0 0 0 )g u p&i\Guaranty Trust C o ., Now Y ork, Trusteo.
to listen to all complaints and to arbitrate all differences. On M ay 1
B onds.— O f tho $12,000,000 new bonds, $ 2 ,100,000 are reserved to take pany
1913
agreement
was made settling all disputes with the A m al. Assn, of
up a like am t. of underlying liens. Theso new bonds are subj. to call on anv
int. date at 110 and int. Int. on the 1st and 2d mtgos. of tho Erio EL M otor Street & Elec. R y. Employees of A m . to contlnuo until M a y 1 1916 and
C o . Is paid by Kountze B ros., N . Y .
Tho Erie E l. M otor ref. bonds aro from year to year thereafter.
STOCK A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
secured by deposit of entire stocks of tho Erio C ity Pass. R y. and the Erio
Reed Park & Lakesklo St. R y. A sink. fd. o f 1 % ann. on theso bds. began Stock, common, $ 1 0 ,000 ,000..................................... $10,000 ,000 ......................
Apr. 1 1906 and will bo Increased to 1 )^ % In 1916. Tho Hamburg R y. Pref. 4 % cum . $5 ,0 0 0 ,0 0 0 .................................. - - - (See toxt)
bonds are no longer subject to call. Tho Dunkirk & Fredonia refunding Coll trust, $18,3 3 5 .0 0 0 _______ 1912
4 J-J
18,335,000 July 1 1949
mortgage bonds are subject to call on any interest date at 103. The Serial debenture notes, $ 5 0 0 ,-/1 9 1 3
6 F -A
450,000
See toxt
Niagara & Erie 1st M . bonds aro subj. to call, any or all. on any int. day
000 ($1,000), g o ld .............-_cf I n t .a t Chase N a t. Bank N . Y ., or Fidelity
Trust C o. of Buffalo. Trusteo.
at 105. Sk. fd. from Jan. 1 1916, 1 K % of bonds auth. Bonds aro guar.,
p ., I. & sk. fd ., by Buff. & Lako Erie Trac. and N iag. Lockp. & Ont
Car trust certificates N o 21 1906
4 K J-D 16
150,000
1914-1916
Power C o ., ono-half by each. V . 92, p. 530.
$600,000 ($ 1 .0 0 0 ).......... -c*/C om m ercial 'Irust C o ., Phila., Trustee.
6%
_
88,000
See toxt
R O A D .— Buffalo, N . Y . , to Erie, P a ., and Buffalo to Ham burg, N . Y . , Car trust certificates N o 31 1907
$250 ,00 0.................................... /Com m ercial Trust C o ., Phila., Trustee.
98.5 8 m .; leased lines (Dunkirk St. R y ., 4 .96 m .; Erio Elec. M otor C o .,
26.81 m .; Erie & Sub. R y ., 4 .6 3 m .; Buffalo & Lacka. Trac. C o ., 4.98 m .) ,
* Bonds a n d N o te s.— Tho dobenturo notes mature $50,000 annually be­
41.38 miles— total, 139.96 miles, o f which in N ew York (owned, 80.46 m .; ginning Feb. 1 1914. Callablo at 100 and int. on any int. date. Car trust
They fall duo in soml-annuai
leased, 9.94 m .) , 90.40 miles and in Pennsylvania (owned, 18.12 m .; loased, cortfs. N o. 2 aro secured by title to 150 cars.
26.81 m .: operated, 4.63 m .) 49.56 miles. Second track (owned, 16.34 m .; installments of $30,000 oach from D ec. 1906 to Juno 1916 inclusive. Car
leased, 16.25 m .; operated, 3 .53 m .) , 36.1 2 miles. Sidings, & c. (owned, trust certificates N o . 3 aro secured by titlo to 50 cars. They fall duo in
4 .34 m .; leased, 3.75 m .; operated, .94 m .) , 9 .03 miles. Total track op­ semi-annual installments of $12,000 M arch 1 and $13,000 Sept. 1 from
erated (owned, 119.26 m .; leased, 55.63 m .; operated, 10.22 m .) , 185.11 m . M arch 1 1908 to Sept. 1 1917.
D iv id e n d s .— As a result of the reorganization bringing about tho issuance
O F F IC E R S .— V .-P ., M . D . Evans; G en. M g r ., A . R . M yers; Sec. &
A sst. T reas., M . D . Evans; Treas. & A sst. Sec., A . F . Tidoswoll.— V . 8 8 . of now coll, trust bonds and tho settlement of tho International I t y .’s in­
debtedness to tho Traction C o ., a div. of 2 % on tho pref. stock was paid
p. 293, 1001: V . 92. p. 525; V . 95, p. 1121, 1206; V . 97, p . 297.
Fob. 1 1913: also an additional 4 % on account of accumulated dividends;
(1) B u ffa lo & L a ck a w a n n a T r a c tio n C o .
July 2 % and an add’ l 2 % on account of accumulated dlvs. In 1914, Fob.,
O R G A N I Z A T I O N .— Incorporated in New York in Juno 1906 to furnish 2 % and 2 % additional on account of accumulated dividends. Tho amount
an ontranco Into Buffalo for|Buffalo & Lake Erio Trac. C o. In April 1909 due on account of accumulations is 4 2 % (V . 98, p. 386. j




M a y,

1914. |




ELECTRIC RAILWAYS

23

ELECTRIC RAILWAYS

24

F r a n c h i s e s . — In June 1906 we were informed that the m ajority o f the
franchises in Buffalo are practically perpetual, none in Buffalo or other cities
and towns having then an unexpired term o f less than 40 years, excepting
only the Fillmore Avenue franchise, covering an extension of 6 >4
miles on the east side in Buffalo, which was limited to 25 years; also portions
of Franklin, Pearl, Genesee, W . Seneca, Morgan and W . Chippewa Sts.;
extension of M organ St. or Elmwood A v e ., in the Terrace and College Place.
C o n s o l i d a t i o n o f C o n s t i t u e n t C o m p a n i e s . — On Feb. 20 1902 the Interna­
tional Railway Com pany was incorporated in N ew York with $10,120 ,500
stock, and In A u g. 1902 this was increased to $17,000 ,000 , of which $ 1 6 ,­
320,500 has been issued (all owned by the International Traction C o .), as a
consolidation of the following companies, whose shares had previously been
held by the Traction C o .; V . 74, p. 427.
Buffalo Railway C o . (after Buffalo Traction and Buffalo Bellevue &
Lancaster had first been merged in the sam e).
Buffalo & Niagara Falls Electric Railway.
Buffalo & Lockport Railway (after Elmwood A v e. and Tonawanda Elec­
tric Railway had been m erged).
Buffalo Tonawanda & Niagara Falls Electric R R . C o.
Lockport & Olcott Railway.
Niagara Falls & Suspension Bridge Railway (after the Niagara Falls
Whirlpool & Northern R y . had been merged in it).
Niagara Falls Suspension Bridge C o.
The Buffalo Railway owned the $ 2 ,860,000 stock o f the Crosstown Street
R y . o f Buffalo, and this passed to the International Railway C o.
On July 1 1902 the International R y . C o. acquired by purchase the
Niagara Falls Park & River R y ., the Clifton Suspension Bridge C o ., the
Lewiston Connect. Bridge C o . and Queenston Heights Bridge C o. and in
D ec. 1912 merged the Electric C ity R y ., and in April 1913 the Crosstown
S t. R y . was also merged, thus leaving the International R a i l w a y C o. and the
Frontier E lec. R y . the sole operating companies and the International Trac­
tion C o. the holding company.
In D ec. 1912 the P . S. C om m , authorized the Railway C o . to make a
mortgage for $ 6 0 ,000 ,000 as below.
V. 95, p. 1608. On N o v . 20 1913 the
P . S. C om m , authorized $2,3 6 6 ,0 0 0 of these bonds in addition to amounts
previously issued. V . 9 7 , p . 1504.

ST O C K A N D BON DS—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity '
Stock, $200,000 (par $ 1 0 0 ) . . . ____
Q -F
$200 ,00 0 1 9 1 2 -1 3 ,8 %
30-year bonds, $ 5 0 0 ,0 0 0 .. . t f 1912
5%
3 50,000
1942
B o nds.— The remaining $150,000 bonds can only be issued with permis­
sion of Public Service Commission.
I lO A D .— Owns 12 miles o f track In city o f Burlington. Rails 5 0 , 60
and 75-lb. 1 . Owns 15 box cars, 18 open cars, 2 snow plows.
D iv id e n d s .— Previous to 1903 , 4 % yearly. From 1903 to 1912, 6 %
yearly. In 1912 and 1913, 8 % .
Y e ar eT $ - J u n e 30— Gross.
N e t.
Charges. D ie s .
C onst.
B a lance .
1 9 1 2 -1 3 ------------------- $126,185 $39,537 $14,000 $ 1 6 ,” 00 _______ su r.$9,537
1 9 1 1 - 1 2 . . ................. 122,153 55,838 13,401
12,000 $ 32,883 d e f.2,440
O F F IC E R S .— Pres., Elias Lym an; V .- P ., Jno. J. Flynn; T reas., W . F
Hendee; Sec., C . W . Brownell.— V . 94, p. 1185.

BUTTE, MONT.
B U T T E E L E C T R IC R A I L W A Y — Trolley.
This company was incorporated in W est Virginia In December 1899 a*
successor of the Butte Consolidated R y ., sold at foreclosure.
ST O C K A N D BO N D S—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Stock, $1,000,000 (par $ 1 0 0 )_______
M -N
$ 1 ,0 0 0 ,0 0 0 Oct ’0 6 . 2 %
1st M , $700 ,00 0, gold, $ 1 ,0 0 0 / 1900
5 g M -S
700,000 M ar 1 192&
each---------------------------- c*cp t)In te rest at W . A . Clark & B ro ., Butte.
B onds.— M a y be called for paym ent on M a r. 1 1915, or on any interest
day thereafter. S in k in g f u n d o f 1 0 % par value of bonds begins M ar. l 1916.
D iv id e n d s .— In 1905, 4 % ; in 1 9 0 6 , M a y , 2 % ; O c t., 2 % . N o div. since
to Feb. 1914.
R O A D .— Operates 33.3 miles o f track. 56-lb . T rails. 61 pass. cars.
E A R N I N G S .— Year ending D ec. 31 1913, gross, $535,749; expenses •
$524,740; balance, surplus, $ 1 1 ,0 0 9 . In 1912, gross, $464,532; exp ense8
$478,465; loss, $13,933 .
O F F IC E R S .— Pres., W . A . Clark, B utte; V . - P . . J . R . W harton; Sec. &
T reas., J. I I . Anderson, 20 Exchange Place, N . Y . — V . 7 2 , p . 190.

Liens of C onstituent and Owned Companies.

BON DS—
D a le .
In te r es t.
O u ts ta n d in g .
M a tu r ity.
Internet R y ref & Imp m tge) 1912
5 g M -N $10,420 ,000 N ov 1 1962
$60,0 0 0 ,0 0 0 , gold-------c*& r/Bankers Trust C o ., N ew Y o rk , Trustee.
5 g F -A
5 ,000,000 Feb 1 1931
Buffalo R y 1st con m tgef 1891
($1,000) $5,000,000,g , c *& r)In t. at C o .'s office, B u ff., E .W . Clark & C o .,
I Phila., or Bankers T r . C o ., N . Y . , Trustee.
oTonawanda St R R 1st M ,1 1892
6 J-J
60,000 July 1 1922
$250 ,0 0 0 ------------------------------- (Interest at com pany’s office, Buffalo.
oTonawanda Electric R R 1st) 1895
4 A -O
40,0 0 0 April 1 1917
m tg e ________________________ /Interest at company's office, Buffalo.
ftCrosstown St R y 1st m tge, g ) 1892
5 g M -N
62,974,000 M a y 1 1932
($3,00 0 ,0 0 0 ), gu p & i . . c * / I n t . at M etropolitan T r. C o ., N . Y . , Trustee.
Buffalo Traction 1st m tge,) 1898
5 g J -D
673,000 Dec 1 1948
$ 5 ,0 0 0 ,0 0 0 _________________ /i n t . at Metropolitan T r . C o ., N . Y . , Trustee.
Buffalo Bellevue & Lancaster) 1897
5 J -D
215.000 June 1 1927
m t g e ________________________ /Redeem able at par.
B uff & N iag Falls Elec R y— 1 1895 5 g J-J
750,000 July 1 1935
1st M , $750 ,00 0, gold____ c/Interest at Bankers Trust C o ., New York.
2d M , $250 ,00 0. g. s f, red) 1896
5 g J-J
45,0 0 0 July 1 1921
aft 1901 at 105 ( $ l ,0 0 0 ) .c /l n t . at Bankers Trust C o ., N . Y . , Trustee.
Buffalo & Lockport 1st m tge,) 1898
5 g J-J
500,000 July 1 1938
gold, $50 0 ,0 0 0 ......./Equitable
Trust C o ., N ew Y o rk , Trustee.
5 g J-J
800,000 July 1 1920
Lockport & Olcott R y 1st) 1900
" “0 0 ,0 0 0 , gold
' ' In t. at Guaranty T r . C o ., N . Y . , Trus.; also
mortgage, $1,0
at Buffalo. G uar., p. & I., b y Inter. Trac.
( $ 1 ,0 0 0 ) ................................ c*
Niagara
Falls
Suspension 1897
5 g J-J
300.000 Jan 1 1928
Bridge, Clifton Suspension Toronto General Trusts C o ., Trustee.
B r id g e ................................... __ In t. at American Exch. N a t. B ank, N . Y .
Lewiston Connecting Bridge 1898
5 g A -O
125,000 Oct 1 1928
C o,
Queenston
Heights Toronto General Trusts C o ., Trustee.
Bridge C o .................................. ..........
In t. at
.. American Exch. N a t. Bank, N . Y .
oN iag Falls & Susp Bridge R y . 1893
6 J-J
518,000 July 1 1923
aNIag Falls Whirlpool & N o R y 1894
6_ J-J
22,500 July 1 1923
a All owned by International Traction C o.
6 O f this $350,000 owned by International Railway C o.
B onds.— O f the Internat’l R y . ref. and im p. bonds, $11,021 ,500 are re­
served to retire prior lien bonds; remaining bonds m ay be Issued only for
add'ns, im pts., & c., with consent of the P . S. C om m . C oup, bonds in
denom. of $1,000 and $100 and reg. bonds of $1,000 and multiples. Red.
on any int. date at 110 and int. In t. payable at the office or agency of the
company in New Y ork. Sk. fd. began in 1912 and will provido by July 1
1949 sufficient funds to retire all outstanding underlying bonds, of a total
ar value of $ 1 2,651 ,500 . V . 96, p. 62. The Tonawanda E lec. R R . m tge.
ue April 11907 was extended until 1917. The Niagara Falls & Suspension
Bridge R y . bonds of 1893 and the N iag. Falls & Whirlpool Northern bonds
of 1894 given in the table above matured in 1903, but were acquired by the
International Traction C o. and extended ten years, and then deposited with
the Guaranty Trust C o . of Now York as additional security under the
International Traction C o. 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. & im pt. 5s of the Internat. R y .,
$60,000 Tonawanda St. R y . 1st 6s, $40,000 bonds of Tonawanda Elec. R R .,
$518,000 bonds of the Niagara Falls & Suspension Bridge and $22,500 bonds
of the Niagara Falls Whirlpool & Northern aro pledged as security for the
International Traction collateral trust loan . 9
E A R N I N G S .— For year ending D ec. 31 1913, gross, $ 6 ,6 9 4 ,4 4 3 ;, net
after taxes, $2,39 9 ,7 7 0 ; fixed charges, $1,60 4 ,9 2 2 ; sinking fund, am ort, of
disc, and prem. on debt, $129,803; surplus, $665,045.
R O A D .— Mileage Jan. 1 1914: Length of lino, 223.26 (owned, 198.25,
leased, 18.36, trackage, 6.6 5 ); total miles of track, incl. second track,
crossovers, sidings, & c., 382.19 miles. Gauge, 4 ft . 8 /4 in. Rail (steel),
45 to 140 J b s .
5 / E Q U I P M E N T .— Jan. 1 1914, 1,438 cars o f all classes, including 1,240
passenger cars; power furnished by Niagara Falls Power C o ., the Cataract
Power & Conduit C o . and the Tonowanda Power C o.
O F F IC E R S o f all operating companies.— Chairman Exec. C o m m ., G eo.
Bullock; P res., Edward G . Connetto; V .- P ., E . J. Dickson; Sec.. John A .
M cK en n a; T rea s., G eo. W . W ilson; A u d ., Charles A . Chavel.
“ O F F IC E R S o f International Traction C o.— P res., Rodman E . Griscom ;
V .- P ., E . G . Connette; Sec., John A . M cK enn a; T reas., G eo. W . W ilson;
A u d ., C has. A . Chavel.— V . 96, p. 63, 135, 2 85, 716, 1021; V . 9 7 , p . 1357,
1663; V . 9 8 . p . 155, 386.

§

BURLINGTON, IOWA.
BU RLIN GTON

R A I L W A Y & L I G H T C O . — A trolley road.

O R G A N I Z A T I O N .— Incorp. in 1912 In Delaware and acquired the Peo­
p l e ’s Gas & Elec. C o. and o ld Burlington R y . & Light C o . Does entire
municipal and commercial electric-lighting and power business in Burling­
ton and suburbs. Also owns steam-heating and gas plants. Railway
fra n c h is e s are perpetual, except for two suburban .extensions o f minor im­
portance. Other fra n c h is e s expire i n ,1927.
S T O C K S A N D B O N D S — D a te .
In te re s t.
O u ts ta n d in g . M a t u r it y .
Com m on. $ 3 .0 0 0 ,0 0 0 ......................................................
$2,000,000 _ ...............
P referred, $2.0 0 0 ,0 0 0 ____ ______ _
________
1,000,060 .................
First mortgage $7,5 0 0 ,0 0 0 . g / 1912
5 M -S
1,400,000 M ar 1 1932
$ 1 ,0 0 0 ), sinking f u n d ..c * lE q u it . Trust C o ., N . Y . . Trus. I n t .i n N .Y .
W B o nds.— Remaining bonds are for additions, betterments or extensions,
under certain restrictions, at 8 0 % of cost. Callable at 105 and int. on any
int. day on 3 m onths’ notice. Sinking fund of 5 % of gross earnings begin*
July 1914. V . 9 5 , p. 678.
E A R N I N G S .— For cal. year 1912, gross,r$320,240; net, $152,538; other
income, $8,395; total income, $ 1 60 ,93 3. In 1911. gross, $306,519: net,
after taxes, $141,340: other income, $10,428; total income, $151,768.
R O A D .— Owns and operates about 19/4?m iles of track in Burlington
and its suburbs. 66 to 85-lb. T rall.fi 62 passenger cars.
O F F IC E R S .— Pres., G eo. II. H lgbee;lSV .-P .,'E . C .'/W alsh;) Sec. & Treas.
& G en. M g r ., C . II. W alsh.— V . 95. p. 678,11039. i .

BURLINGTON,^VT.
B U R L I N G T O N i T R A C T I O N I C O — A ltr o ll e yl ro a d.




[Vol. XCVIII

CALAIS^ ME.
C A L A IS S T R E E T R A I L W A Y .— A trolley road.
O R G A N I Z A T I O N .— Stock, $ 50,000 com . and $ 5 0 ,0 0 0 pref.; first
mortgage, 1910 ( n t f ) , 5s, J-J, $100,000 due July 1 1930.
R E P O R T .— Year ending June 30 1913, gross, $36,002 ; net, $8,431:
nterest and taxes, $5,673; surplus. $ 2,758.
_ R O A D .— Calais Street R y ., lower wharf to upper bridge, Calais, 4 miles;
St. Stephen Electric R y ., M illtow n, N . B ., to St. Stephen, N . B ., 3 miles;
total, 7 miles. The St. Stephen Electric Street R y . is a separate corpora­
tion, but is owned entirely b y the Calais com pany. 9 cars.
O F F IC E R S .— Pres., George A . Curran; Sec., Treas. & G en. M g r .,
Benjamin Y . Curran; S u p t., O . F . Pray; all of Calais, M e .

CANTON, MASS.
B L U E H IL L S T R E E T R A I L W A Y .— A trolley road.
O R G A N I Z A T I O N .— F ra n c h is e perpetual.
STOCK A N D BON DS—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu rity .
Stock, $300,000 ($100).............. . . .
_ _ ...........
$ 3 0 0 ,0 0 0
................
First mortgage, $ 500 ,00 0, / 1903
5 g A -O
251,000 Oct 1 1923
l -------------------------------------- \Int. at Old Colony Trust C o ., Boston, Trus.
ds.— Subject to call as a whole at 115 and int. on any int. day.
E A R N I N G S .— For 12 m os. ending D ec. 31 1913, gross, $95,656; not,
after taxes, $28,887 ; interest, $ 22,018 : balance, $ 6,869.
R O A D .— Operates 19.5 miles o f track from M attapan, where connection
is made with tne Boston Elevated R y ., to Canton and Stoughton, at which
latter point it connects with the Brisfol & Norfolk Street R y . and the Bay
State Street R y . Standard gauge. 25 cars.
O F F IC E R S .— Pres., C . II. French; V .-P s ., A . S. Pratt and E . J. B .
Huntoon; Clerk, William T . Crawford; T reas., Henry B . Sawyer; G en.
M g rs., Stone & Webster M g m t. A ssn ., Boston.— V . 78 , p . 1906.

C

CAPE MAY, N. J.
CAPE M A Y D E L A W A R E B A Y & S E W E L L ’S P O IN T R A IL R O A D .
— An electric and steam road.
In M ar. 1912 Nelson Z . Graves o f Phila. acquired control. V .9 4 ,p .8 2 6 ,982.
O R G A N I Z A T I O N .— Organized under the general railroad laws o f Now
Jersey on Jan. 19 1893 by consolidation of the Delaware B ay & Cape M a y
R R . (owner of tho Cape M a y h Sewell’s Point R R .) and the Cape M a y &
Schellenger’s Landing R R . Uses electric power for passenger service and
steam power for freight.
STOCK A N D BONDS—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Stock paid in (par $ 5 0 )........................
.............$150,000 ____________
First mtge ($150,000) . . . c u r . 1893
5 F -A
150,000 Feb 1 1923
Other debts Doc 31 1912------------------------------391,449 ____________
In 1894 and 1895 but one interest payment was m ade, by mutual consent
of bondholders. Interest was reduced to 5 % for 5 years from Feb. 1 1896.
and remains at 5 % . Trustee is N . J. Trust & S. D . C o ., Cam den, N . J.
R O A D .— Operates 6.29 miles o f track extending to Cape M a y Point and
Sewoll’s Point, along tho beach front through city of Capo M a y .
E A R N I N G S .— For year ending D ec. 31 1912, gross, $27,322; expenses,
$32,991; def. from oper., $5,669; taxes, in t., & c., $10,202; total deficit.
$ 15,871.
O F F IC E R S .— Pres., Nelson Z . Graves, Philadelphia.— V . 72. p. 532
V . 9 4 , p . 826, 982.
_________

CEDAR RAPIDS, IOWA.
IO W A R A I L W A Y & L I G H T C O .
O R G A N I Z A T I O N .— Is a ro-Incorp. In 1912 o f the Cedar Rapids & Iowa
C ity R y . & L t. C o. and has acquired the properties formerly owned by the
following companies:
Marshalltown L t ., Power & R y . Co
Boone Electric C o.
Cedar Rapids & Iowa C ity R y . & L t. Perry E l. L t ., Pow. & H eat C o.
Tam a & Toledo Electric Power C o .
C o.
Tam a & Toledo R y . C o.
Marion Light, H eat & Power C o.
Owns and operates entire electric light and power properties in Cedar
Rapids, M arshalltown, Boone, M arion, P e rry,T am a, Toledo and Nevada:
inter, road between Cedar Rapids and Iowa C ity and Cedar Rapids and
ount Vernon; the local street railways in M arshalltow n, Boone, Tam a
and Toledo; tho gas plant in M arshalltown and tho heating properties in
Cedar Rapids, Boone, M arion and Perry. Interurban road is on private
right of w ay.
C o ntract w ith C ity .— For contract with C ity of Cedar Rapids for the con­
struction of a dam, & c ., see V . 98, p . 235.
In April 1913 the N evada (la .) Elec. C o. was acquired.
ST O C K A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
Common $ 3 ,0 0 0 ,0 0 0 ............................................................. $ 1 ,700,000
....................
Pref, $3,0 0 0 ,0 0 0 , 7 % cum ....................
....................
1,312,530 .......................
‘
‘
‘
1912
5 M -S
3 ,7 7 1 ,0 0 0 Sept 1 1 9 3 2
Harris T r . & Sav. B ank, Chicago, trustee.
1903
5 g J -D
249,000 June 1 1923
st M $2,000,000gold ($1,­ Illinois T r . & Sav. B k ., Chicago, co-trustee.
). , - . . - . . . ...............c * tf
...
In t. at Harris T r. & Sav. Bank, Chicago.
B onds.— O f the remaining 1st & ref. bonds, $249 ,00 0 are roserved for prior
lien and $5,9 8 0 ,0 0 0 are for extensions and additions at 8 0 % o f cost for ac­
quisitions, & c., under certain restrictions. Subject to call on any int. date
on or after Sept. 1 1915 at 103 and int. Sink. fd. 1 % per ann. of bonds ou t,
beginning M a r. 1 1916 to 1921; 1922 to 1 9 2 6 .2 % ; 1927 to 1 9 3 1 ,3 % . Sink,
fund to be used for redemption o f bonds or for extensions and better­
m ents. V . 9 5 , p . 7 5 0 .
On C ed. R ap. & Iowa C ity R y . & L t. 1st M . a s in k in g fu n d began April
1 1908 and bonds are subject to c a ll on or after June 1 1913 at 1 07/4 & Int.
See V . 77, p. 2279.
E A R N I N G S .— O f combined properties for year ending D ec. 31 1913,
gross, $ 1,011,273; net, after opor. e xp., taxes, m aint. and renewals, $421,062;
in t., $201 ,00 0; bal., $220,062.
R O A D .— Operates an interurban road 4 2 /4 miles long on private rightof-way substantially 100 ft. wide between Cedar Rapids and Iowa C ity;
also local street railways in Marshalltown, Boone, Tam a and Toledo and
Cedar Rapids and M oun t Vernon, an extension from M oun t Vernon to
Lisbon, 2 miles, is being constructed.

1
000

ELECTRIC RAILWAYS

M a y , 1914. j

A 4,5 0 0 b . p. turbo-generator having a generating capacity o f 15,000
h. p ., has been installed. A contract has been awarded for a new 2,100
h. p. turbine.
O F F IC E R S .— Pres, and Gen. M a n ., W illiam G . Dows; V .-P . and Troas.,
Isaac B . Smith: V .-P ., John A . Rood; Sec., O . S . W oodward, all of Cedar
Rapids.— V . 95, p. 7 50. _________

CEDARBURG,

W IS.

M IL W A U K E E N O R T H E R N R Y .— An electric road.
O R G A N I Z A T I O N .— Incorporated in Wisconsin in 1905. Operates in­
terurban system entirely on private right-of-w ay. F ra n c h is e 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 fra n c h is e expires
Jan. 2 1956. All others perpetual. Enters Sheboygan over tracks of She­
boygan R y. & Electric C o . under perpetual contract.
M a tu r ity
S T O C K A N D B O N D S —• D a te .
In te re s t. O u ts ta n d in g .
3 1 ,000,000 .......................
Stock, com m on, 3 1 , 0 0 0 , 0 0 0 - - ____
_________
400.000 M ar ’ 1 4 ,3 %
1st prof., 3 4 00 ,00 0, 6 % c u m . . ____
M -S
600.000 M ar T 3 ,3 %
2d prof, 3600 ,00 0, 6 % non-cum_____
M -S
1,595,000 Apr 1 191
1st m tge 34 ,0 0 0 ,0 0 0 g old / 1911
5 A -O
($500 and $ 1 ,0 0 0 )...........c t f tin t, at First Sav. & T r . C o ., M ilw .. Trusteo.
B o n d s.— Remaining bonds m ay bo issued only when net earnings are
twice int. charges, incl. bonds to be issued, at not exceeding 7 5 % o f cost
o f extensions, additions, & c. Subject to call at 105 and lnt.
V. 92, p . 725D iv id e n d s .— Dividends of 3 % paid s .-a . on 1st & 2d pret. from Sept. 1911
to M a r. 1913 (incl.). In Sept. 1913 3 % paid on 1st pref. and div. was
passed on 2d pref.
E A R N I N G S .— For year ending June 30 1913, gross, $344,350; net after
taxes, $157,090; in t., $75,000 surplus, $ 82,090 .
R O A D — W ill bo 120 miles long, running north from Milwaukee to Cedarburg whero it forks, one branch extending to Sheboygan via Port W ashing­
ton and the other to Fond du Lac. Operates 69 miles of track, including
% y. miles in Milwaukee, between M ilw aukee, Cedarburg and Sheboygan.
Is double-tracking the lino between Milwaukee & Cedarburg, 6 .04 miles
completed. Gauge, 4 ft. 8 'A in. 70-lb. T rail.
O F F IC E R S .— Pres., W in . A . Com stock; V .-P . and Gen. M a n ., F . W Walker; Sec. and T reas.. Henry A . Ilaigh.— V . 8 5 , p. 601; V . 92, p. 725.

C H A M B E R S B U R G , PA.
C H A M B E R S B U R Q & G E T T Y S B U R G E L E C T R IC R Y .
O R G A N I Z A T I O N .— Incorporated in Pennsylvania D ec. 4 1900.
ST O C K A N D BO N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
$225 ,00 0 ......................
Stock $225,000 ($50)....................................... ...................
1st m tgo, $225,000 (3 1 ,0 0 0 ),/ 1903
5 M -N
225,000 M a y 1 1933
not red., no sink. f u n d ..c * l Int. at N ortham pton T r. C o ., Easton, T rust.
E A R N I N G S .— For year ending Doc. 31 1913, gross, 339,237; not (d ef. ) ,
$232 ; other incomo, $3,145; charges and taxes, $11,914 ; deficit, $9,0 0 1 .
R O A D .— Operates 13.25 miles o f track between Ghambersburg, Stofferstown, Fayetteville, Greenwood and M t . Union. 60 to SO-lb. T and
girder rail. Gauge, 5 ft. 2 H in.
O F F IC E R S .— ’Pres., T . B . Kennedy; Sec. and T reas., W . L . Ritchey;
_______
Su pt., D . B . Fretz.

C H A M P A IG N , ILL.
IL L IN O IS T R A C T IO N C O — ( See M a p on page 26.)
A m a lg a m a tio n .— On N o v . 10 1913 the shareholders voted to increase tho
auth. common stock from 31O,O0O,0OO to 3 1 5 ,0 0 0 ,0 0 0 . in order to control
tho allied Wcstorn Railways Sc Light C o..w hich had outstanding $4,521,800
com . stk. and $ 3 ,1 6 9 ,0 0 0 prof. . Tw o shares of Railways Sc Light com . are
to be exchanged for one of Illinois Trac. com . The pref. stock of tho Itys.
& Light C o . will remain outstanding. See V . 97, p. 1426 and 1054.
O R G A N I Z A T I O N .— Incorporated in M aine on M a y 13 1904 and con­
trols tho following companies:
Bloomington Decatur & Cham p. R R Kansas R y . Sc Light C o.
Bloomington & Normal R y. & L t.C o . Madison County Light & Power C o.
Clinton (III.) Gas Sc Electric C o.
M ontezum a E l. L t ., Pow. Sc H tg . C o.
C olfax Electric Lighting C o. (Iowa). M onticello Electric Light C o.
Danvillo Cham . & D ec. R y. Sc L t.C o . Now Valley Junction W ater Sc L t. C o.
Danvillo & Eastern Illinois R y.
Oskaloosa Sc Buxton Elec. R y . C o .
Danvillo Sc Northern R It.
Oskaloosa Traction Sc Light C o.
Peoria Railway C o.
Danvillo Sc Southeastern R y. Co.
Danvillo Street Railway & Light C o. St. Louis Electric Bridge C o.
Danvillo Urbana Sc Champaign R y. St. Louis Electric Terminal R y.
Decatur Railway Sc Light C o.
St. Louis Springfield & Peoria R R .
Topeka Edison C o.
D es Moitios Electric C o.
Topoka Railway C o.
D es M oines Railway Sc Light C o.
Illinois Central Traction C o.
Urbana & Champaign Railway, Gas
Sc Electric C o.
Jacksonville Railway & Light C o.
Jacksonville R y .
Urbana Light, Heat & Power C o.
In April 1907 obtained a 50-year fra n c h is e on certain streets of St. Louis
and was also given authority by the U . S. Governm ent to build a bridge
across tho Mississippi River between Venice,111., and St. Louis, M o . This
bridgo was opened to traffic in N o v . 1910 and, with terminals in St. Louis,
represents an investment o f over $6,000 ,0 0 0 . V . 92, p. 259. On July 1
1911 began running express trains between St. Louis Sc Peoria, 174 miles,
with only two stops— at Springfield and Lincoln— tho running time being
54$ hours, or about 32 miles an hour (V . 93, p. 4 4 ). In A ug. 1911 the
com pany opened offices in Chicago, with the purposo o f securing freight
from points botween Chicago and St. Louis, though company has as yet
no direct entrance Into Chicago. V . 93, p. 527.
On Dec. 31 1913 the bonded indebtedness o f tho properties controlled
was $42,771 .000 .
STOCK A N D BON DS—
D a le .
In te re s t. O u ts ta n d in g . L a s t D iv ld .
Com m on, $15,000 ,000 ($100)......................................... $ 9 ,9 9 3 ,4 0 0 M a y T 4 , 54%
Prof 6 % cum $ 10,000 ,000 (5 100)------Q-J
. 7,1 3 5 ,5 0 0 A p r '1 4 , 14$
Stock.— ’Additional preferred stock can only bo issued when net earnings
are equal to 9 % on preferred stock out and tho amount proposed to bo
Issued. Preferred stock is listed on Montreal Stock Exchange.
D iv id e n d s .— 6 % per annum Is being paid on tho preferred stock. First
d iv . on com ., •),$%, paid M a y 15 1913; A u g. 1913, 5 4 % ; N o v ., 5 4 % . In
1914, F e b ., 5 4 % ' M a y 5 4 % .
R E P O R T .— For cal. years. Report for 1913 in V . 98. p. 1456.
Gross E a rn in g s —
1913.
1912.
1911.
1910.
Intorurban ____________ $ 3 ,055,520 $2,96 4 ,9 5 5 $ 2 ,864,793 $ 2 ,440,592
C ity linos............................. ’ 2 ,129,804
2 ,0 3 0 ,9 9 4
1,950,'880
1,896,587
G a s .........................................
4 66,450
428,977
383,324
357,315
Electric light and power 1,977,349
1,689,477
1,473,938
1,322,581
Steam boating................
247,530
219,170
197,737
174,822
M iscellaneous___________
71,445
82,074
3 1 ,5 4 8
26,141
Total gross oarnings-. $7,948,098
Operating oxponsos____ 1
Genoral Sc overhead e x p .($4,613,336
T a x es___________________ /

$ 7 ,415,647
$4,021,994
81 ,2 0 5
250,015

$6 ,9 0 2 ,2 2 0
$3,867,869
83,700
182,071

Total opor. oxponsos. $ 4 ,613,336

$ 4 ,353,214

$ 4 ,133,604

$ 3 ,665,628

N ot oarnings-----------------$3,334,762
Loss not oarnings o f Dos
Moines and Topoka
prop, prior to p u r c h ..
-----------

$3,06 2 ,4 3 3

$ 2 ,768,580

3 2 ,552,410

$3,334,762
Interest, & c.......... ................ $2,072,539
Dividends on preferred.
406,372
Dividends on com . ( 3 % )
224,805

$ 3 ,062,433
$1,975,969
3 4 4,547

$2,768,580
$1,885,221
318,276

$2,498,227
$1,536,687
273,286

$ 6 ,218,038
33 ,4 4 1 ,1 0 0
58,596
165,932

$54,183

$2,703,716 $ 2 ,320,516 $2,20 3 ,4 9 7 $1,80 9 ,9 7 3
S u rp lu s..................
$631,046
$741,917
$565,083
$688,254
During 1913 $1,343,489 was expended for m aint., renewals Sc bottorm’ts,
against $468,670 In 1912.
R O A D .— Tho intorurban linos comprlso 489.54 milos of track; city lines
comprlso 169.60 miles of track: total of all lines. 659.14 miles. In 1912
entered into a contract with W abash R R . for a physical connection and
"




2o

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 lines. Interurban lines have 150 passenger, 128 express and
750 freight cars; city lines have 210 motor cars and 149 others; 4 central
power stations and 40 sub-stations.
O F F IC E R S .— Pros., W . B . M cK in ley, Champaign; V .-P . and Gen. M g r .,
I I . E . Chubbuck, Peoria; V .-P . and T reas., G eo. AI. M a ttis, Champaign.
Sec-. T .
* M ? ? tr,ealA— v - 94, P982; V . 95, p. 172. 1542;
V . 9 6 , p. 62, 6 5 2 ,1 2 2 2 , 1365, 1423; V . 9 7 , p. 521, 1426; V . 98, p. 8 39, 139,
1456, 1528.
LO C AL ST R E E T R A IL W A Y S .
(1) B lo o m in g to n & N orm al R ailw ay & L igh t C o.
O R G A N I Z A T I O N .— Incorporated in Illinois on Feb. 23 1906 as a con­
solidation of the Bloomington & Normal R y ., Electric & Heating C o . and
the Consumers Light & Heating C o. of Bloomington. Does all local street
radway and commercial electric light and power business in Bloomington
and Normal and operates h o t-water and steam -heating system in Bloom ­
ington. Principal railway fra n c h is e in Bloomington expires in 1929. In
this franchise city reserves right to purchase plant at an appraised value
plus 1 0 % of same. Railway franchises in N orm al that are not perpetual
expire in 1922. Principal lighting franchises are perpetual.
STOCK A N D BO N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
Com stock, $1,200,000 ( $ 1 0 0 ) . ........
...............
$1,200,000
Pref. stock, $450 ,00 0, 6 % ........ .... ..............................
4 50,000
1st and gen m tge, $3,500,0001 1911
5 J-J
968,000 Jan T i 9 2 8
gold ($ 1 ,0 0 0 ) ...........-C*& rtf (Illinois Trust & Sav. B k ., Chicago, Trustee.
B Sc N R E & H 1st m tge.l 1902
5 g J-D
600.000 June 1 1927
$600,000 ($1,000) g, s f _ c * t f /In t. at III. Trust Sc Sav. B k ., C h ic., Trustee.
B onds.— O f tho $3,500,000 1st and gen. m tge. bonds, $600 ,00 0 are re­
served for prior liens and $1,932,000 for extensions and im pts. under care­
ful restrictions. Are guar. prin. and int. and s. f. by 111. Trac. C o. Int.
in N . Y . or Chicago. Callable as a whole or in part for s. f. at 1024$ and
m t. on any int. date. Sink. fd. 1% of bonds out annually. 1912 to 1919;
2 % 1920 to 1928. O f the bonds outstanding, $18,000 are in sink. fund.
V . 9 3 , p. 665. Th e R y ., Elec. Sc Heating C o . bonds are subject to call at
110 and int. Sink, f d ., $1 0 ,0 0 0 annually, began June 1908; $67,000 are
in sink, fund and included in amount outstanding.
R O A D .— Operates 20 milos of track in, around and between Bloom­
ington and N orm al. Rails 70 and 72-lb. Has 33 pass . and 6 misc. ca rs.—
V . 93, p . 665.
(2) S t . L o u is Electric T erm in al R ailw ay C o.
Owns extonsivo freight and passenger terminal stations costing about
$5,000,000; also valuabio real estate and a 50-ycar franchise giving "the Illi­
nois Trac. an outlet in St. Louis. Also owns theC itizons’ R y . C o . of Venice,
which operates 4 .8 8 miles of street railway in M adison, Granite C ity and
Venice. V . 91, p. 1769.
STO C K A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
C om m on, $ 1 ,0 0 0 ,0 0 0 _________
All owned by Illinois Traction C o.
Preferred 5 % ......................................................................
$1,000,000 ......................
1st M (tem porary), $3,500.-1 1909
4-5 F -A
1,724,000 D ec 1 1929
000, g ($1,000), guar p & i . t f /In t . at Merchants’ B k . of Canada, M ontreal.
B onds.— First M . (tem p.) bonds are subject to call at par on any interest
day. N o s in k in g f u n d . They are gu ar., p. & I., by Illinois Traction C o.
(8)
D anville C h am p a ign & D ecatu r R y. & L igh t C o.
O R G A N I Z A T I O N .— Incorp. in M aine M a y 14 1913. Is a holding
company and controls substantially all the electric, gas, street railway
and public-heating systems in Danville, D ecatur, Champaign and Urbana.
Franchises covering gas, electric and heating, with few exceptions, extend
many years beyond 1938. Street railway franchises expire at various dates
beforo 1938. tho laws of 111. not permitting long-time street ry. franchises.
ST O C K A N D B O N D S—
D a te .
In te re s t. O u ts ta n d in g .
A la t u r ity .
Stock. $ 3 ,700,000 ($100)_____ ______
________
S 3,688,000 ____________
Cons Sc ref coll tr $ 1 5 ,0 0 0 ,0 0 0 / 1913
5 g M -S
2,107,000 M ar 1 1938
g c*& r*, red at 104 and int,( Int. at Boston Safe Deposit Sc Trust Co
guar prin and interest___ t f l
Trustee. II. D . Heathfield also Trustee.
B o nds.— Secured by all tho stocks and bonds of constituent companies,
namely $675,000 D ec. R y . & L t. C o . Consol. & R ef. 5s; $541 ,00 0 Urbana
Sc C ham p. Consol. Sc Ref. debs.; $871,000 Danvillo St. R y. & L t. C o. Consol.
Sc R ef. 5s and $ 5,000 U rb. L t. H t. & Pow. C ons. & R ef. 5s. There are
$ 2 ,568,000 underlying bonds (maturing from 1914 to 1933) for payment
of which a liko amount o f cons. & ref. bonds is reserved. Romalninng
$ 1 0 ,0 2 5 ,0 0 0 m ay be issued for additions and impts. to constituent cos.
under certain restrictions. They are guar. p. Sc i. by 111. Trac. C o ., as are
also sub. co. bonds deposited under this m tge. All future issues of stocks
and bonds by constit. cos. m ust bo pledged under abovo coll, trust issuo.
V . 96, p. 1422. Coupon bonds in donom. of $1,000; regis. bonds $1,0 0 0 ,
$ 5,000, $10,000 or multiples of $1,000.
S in k in g f u n d will retire before maturity about 4 0 % of total bonded debt,
Incl. underlying bonds.
EARNINGS.— Of constituent cos. for cal. year 1913, gross, $1,746 ,4 8 0 ,
not,after taxes, $789,314; bond int., $248,750; balance, $540 ,56 4.— V . 9 6 ,
p. 1422, 1488; V . 98, p. 1155(a) D anville S treet R ailw ay & L ig h t.
Controlled by Danville Champaign & Decatur R y . Sc Light C o.
O R G A N I Z A T I O N .— Incorporated in D ec. 1899 as a consolidation of all
tho street railway, electric light, gas and steam-heating interests.
ST O C K A N D B O N D S—
D a le .
In te re s t. O u ts ta n d in g .
A la t u r ity .
______$1,438,000 ...................................
Stock, $1,500,000 ($100)_____ ______
Refunding mortgago, $700,-1 1900
5 g J-J
670,000 Jan 1 ’ 14-’25
gold ($ 1 ,0 0 0 )..................c* t f / Interest at N . W . Harris Sc C o.
Danvillo Sc Northern m ort-f 1904
5 M -S
17,000 Sept 1 1914
gage ($20 ,0 0 0 )-----------------tf/ln te re st at Second N at. Bank, Danville.
Consol and ref debs, $7,500.-1 1913
5 M -S
912,000 M ar 1 1938
000 ---------------------------------- tf/C en tral Trust C o. of 111., Trustee.
B onds.— R ef. bonds are duo $6,000 annually Jan. 1 1910 to 1924 inclusive
and remainder on Jan. 1 1925; $3 1,000 have been retired. Sinking fund of
$6,000 per year began Jan. 1 1910, bonds being drawn (at par and accrued
lnt.) in numerical order, beginning with N o . 1. M ortgago trustee is the
Illinois Trust & Savings Bank, Chicago. V . 70. p. 125. O f tho consol. Sc
ref. debs, of 1913, $912,000 are deposited under D . C . & D . R y. & L t . M .
$670,000 aro resorved to roplaco underlying bonds and $5,918,000 for cost
of now property.
COM PANY S
P R O P E R T Y .— Th e 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 sys­
tem of tho city, 16.37 miles of track, nearly all laid in brick pavement,
running to threo parks, tho fair grounds, cemetery and railway depots and
National Soldiers Hom e. Equipped with 50, 60 and 70-lb. Johnson T rails
with 26 motor cars (General Electric) and 12 others. Furnished electric
current at W estvillo, Georgetown, Ridgefarm, Indianola, Sidell and
Chrisman.
O F F IC E R S .— Same as those for Danville Urbana & Champaign Railway
C o.— V . 76, p. 1142, 1300.
(b) D ecatu r R ailw ay & L ig h t C o.
Controlled by Danvillo Champaign & Decatur R y. & Light C o.
O R G A N I Z A T I O N .— Incorporated in Illinois in Dec. 1903, to take over
tho property of tho Decatur Traction & Electric C o ., the Decatur Gas &
Electric C o. and tho Decatur Steam Heating C o ., owning all tho street rail­
w ay, gas and electric-lighting business and steam-heating plant in Decatur
and suburbs.
STOCK A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
A la t u r ity .
Stock, $1,375,000 ( $ 1 0 0 ) - .- .......................................
$1,375,000 ____________
Decatur Gas & Electric C ol
1899 5 M -N
240,000
See text
first mortgago___________t f /I n t . at M erch. L . & T r. C o ., Chic., Trustee.
Decatur Gas Sc Elec Co 2d M f
1899 5 J-J
90,000 Jan 1 1930
$400 ,00 0 ($ 3 0 0 ,0 0 0 roservodiInterest at M erchants’ Loan & Trust C o .,
for abovo ($1,000). gold t f l
Chicago, Trusteo.
Dec Trac & Elec 1st M $300.-1
1900 5 J-J
212,000 Jan 1 1921
000($500& $1,000 o a c h )c * tf/ln t. at Illinois T r. Sc Sav. B k .. C h ic., Trustee
Dec R y & Lt C o 1st Sc cons M 1
1903 5 g J-D
743,000 Dec 1 1933
$ 1 ,3 0 0 ,0 0 0 , g ($ 1 ,0 0 0 )-c * t f lin t.O ld C o l.T r .C o .,B o s .,1
T r. .fcagencyinN .Y .
Dec R y & Lt con Sc ref mtgoi 1913
5%
869.000 M ar 1 1938
$7,500,000 (red at 1 0 5 ). tf/C en tral Trust C o o f TIL. Trustee.
Bonds.— $542,000 Decatur Railway Sc Light C o. first and consols, are re­
served to retire an equal amount of prior liens as above. A sinking fund
of 10% of tho net earnings, or not less than 1 % of outstanding bonds, is
to lio invested in tho bonds. Am ount outstanding includes $75,000 bonds
held in sinking fund. These bonds aro subject to call at 1074$ and int.
on any interest date upon 60 days’ notice. O f tho Decatur Gas & Electric
C o . 1st M . bonds, $15,000 had to be redeemed on M a y 15 1910 at 105 and

26




ELECTRIC RAILWAYS

[V o l . XCVIII

May , 1914.]

ELECTRIC RAILWAYS

a like a m ou n t each ye a r th ereafter in num erical o rd e r . T h e se b o n d s
aro s u b je c t t o call a t 105 an d interest. T h e s e co n d m tg o . b o n d s o f the
D eca tu r G as & E lectric C o . aro red eem a b le a t a n y tim e at 105 and i n t . .
b u t thero is n o sinking fu n d o n these b o n d s. O f th e D e c . K y . & Lit. co n s o l.
& r e f. b o n d s , $8(59,000 are d e p o s ite d u n d e r th e D a n v ille C h a m p . & D e c . K y .
& L t . co n s o l. & ref. m tg o . $ 1 ,3 0 0 ,0 0 0 are reserved t o retire u n d e rly in g
b on d s an d $ 5 ,3 3 1 ,0 0 0 tor n ew c o n s tr u c tio n .
I iO A D .— O perates a b o u t 15 m iles sta n d a rd -g a u g e ro a d in D e ca tu r and
su bu rbs; 60 an d 7 2 -lb . T rails. 23 m o t o r cars an d 16 o th e rs.— V . 91. p . 38:
V . 92, p . 322 .
(c ) U r b a n a & C h a m p a i g n R a ilw a y , G a s & E l e c t r ic C o .
C on tr o lle d b y D a n v ille C h a m p a ig n & D e ca tu r K y . & L ig h t C o .
O R G A N I Z A T I O N .— A c o n s o lid a tio n in 1897 o f U rb an a & C h a m p a ig n
E lectric S treot, C h a m p a ig n E le c tr ic L ig h t & P o w e r, C h a m p a ig n & U rb an a
G as L ig h t & C o k e and W e s t E n d P a rk c o m p a n ie s. O w ns p erpetu al gas
an d steam ch a rter. T h e u n d e rly in g railroad ch arter is also p e rp e tu a l.
Franchise in 1901 ex te n d e d fo r 20 y e a rs.
STOCK AN D BO N D S—
D a te.
In terest.
Outstanding.
M a tu rity .
S t o c k , $ 7 0 0 ,0 0 0 -.......................................................... ..
$70 0,00 0 .......................
U & C K y G & E M $ 2 5 0 ,0 0 0 ] 1897
5 g J -D
138,000 Ju n o 1 1917
g sink fd $ 8 ,0 0 0 y r ly J u n e ] I n t. a t Illin ois T r . & S a v . B a n k , C h ic ,. T r u s .
1 1 9 0 0 & a f t ( $ l , 0 0 0 ) . c * . n t f I o r a t C h a se N a t . B a n k , N ew Y o r k C it y .
C on s ol m o r tg a g e , $ 5 0 0 ,0 0 0 ) 1899
5 g J-J
35-1,000 J u ly 1 1929
($ 1 ,0 0 0 , g o ld ________ c - n t f l i n t , a t P o rtla n d T r . C o . , P o rtla n d , A le .,T r u s
U & O K y G & E c o n s o l a n d f 1913
5 A l-S
6 8 0 .0 0 0 M a r 1 1938
r e f deb s $ 4 ,0 0 0 ,0 0 0 _____ t f \ C e n tra l T r u s t C o . , C h ic a g o , T ru s te e .
Vonds.— O f th e co n s o l, m tg o . b o n d s , s u ffic ie n t aro reserved t o retire fir s t
m ortg a g e b o n d s . T h e b o n d s aro s u b je c t t o ca ll o n a n y in te re st d a y a t 105
O f th e U . & C . K y ., G . & E . co n s o l, an d re f. d e b s ., $68 9,00 0 aro d e p o site d
under D . C . & D . K y . & L t . co n s o l. & r e f. M . , $ 5 0 0,00 0 aro reserved
to retiro o th e r b o n d s and $ 2 ,8 1 1 ,0 0 0 fo r a d d itio n s a n d im p ro v e m e n ts .
R O A D .— O p era tes 12.60 m iles o f tra ck in an d bo tw e o n C h a m p a ig n and
U rb an a.
H as 20 m o t o r ca rs an d 8 o th e rs.
(d ) U r b a n a L i g h t , H e a t & P o w e r C o .
C o n tr o ls th e electric lig h tin g an d ste a m -h e a tin g business o f U rb a n a .
E n tir o s to c k is ow n ed b y Illin ois T r a c tio n C o .
STOCK AN D BON DS—
D a te.
In terest. Outstanding.
M a tu r ity .
S to c k $ 1 5 0 .0 0 0 ..................................................... ................
$ 1 5 0 ,0 0 0 ............... ..
F irst m tg o $ 5 6 ,0 0 0 ( $ 5 0 0 )-C t f 1903
5 M -N
2 9 ,0 0 0
Seo te x t.
F irst con sol m tg o $200,0001 1909
5 J -D
9 2 ,0 0 0
Seo te x t.
($ 1 ,0 0 0 ) ........ ..................... tf\ C e n tra l T r . C o . o f 111., T ru s te e . I n t. in C h ic .
C o n s o lid a te d an d r e fu n d in g ! 1913
5%
10,000 M a r 1 1938
m o r t g a g e ________________ t f/C e n t r a l T r u s t C o . o f Illin o is, T r u s te o .
Vonds.— First m o r tg a g e b o n d s m a tu r e $ 2 ,0 0 0 to $ 4 ,5 0 0 a n n u a lly o n
M a y 1 until M a y 1 1920. $ 2 7 ,0 0 0 retired up to J a n . 1 1914. O f 1st co n s o l,
m t g e ., $ 3 6 ,0 0 0 a re reserved fo r p r io r b o n d s an d $ 7 2 ,0 0 0 aro fo r new c o n ­
str u c tio n . B o n d s m a tu re o n A la r . 1 y e a r ly fro m 1918 to 1927. T h e y
aro gu ar, b y Illin ois T r a c t io n C o .
V . 8 9 , p . 167. T h e entiro o u tsta n d in g
a m t. ($10,000) o f co n s o l. & re f. b o n d s are d e p o s ite d u n d er D a n v . C h a m . &
D e c . K y . & l it . m o rtg a g e .
O F F I C E R S .— P re s., w . B . M c K in le y ; S e c ., E . A . M a c N u t t ; T r e a s .,
G e o . M . M a t t is ; G e n . M a n ., M . II. C h u b b u c k .— V . 8 9 , p . 167.
(4) J a c k s o n v il l e R a ilw a y & L i g h t C o .
O R G A N I Z A T I O N .— I n c o r p o r a te d in A la in o in D e c . 1905 a n d is a c o n '
s o lid a tio n o f th e J a c k s o n v ille Ity . C o . a n d th e J a c k s o n v ille G a s L ig h t &
C o k e C o . F ranchise p e rp o tu a l.
STOCK AN D BO N D S—
D a le.
In terest.
O utstanding.
M a t u r it y •
................
$ ' 0 0 ,0 0 0 ....................
S t o c k , $ 5 0 0 ,0 0 0 ( $ 1 0 0 ) - ....................
J a ck R y & L t 1st c o n s A I , $ 1 , - / 1906
5 g J-J
5 7 3 ,0 0 0 Jan 1 1931
0 0 0 ,0 0 0 ,g u ,g ( $ l , 0 0 0 ) c * - t f (C e n tr a l T r u s t C o . , C h ic a g o , T ru ste e .
J a ck s on v G a s L ig h t & C o k o f ____
5 J-J
155,000 Jan 1 1931
C o fir s t m o r tg a g e _____ n t f \ l n t . a t M e r c h a n t s ’ L oa n & T r . C o . , C h ic a g o .
Bonds.— O f th o $ 1 ,0 0 0 ,0 0 0 1st c o n s o ls, $16 0 ,0 0 0 are reserved fo r p r io r
lion s. A ro g u a r ., p . & L , b y Illin ois T r a c . C o .
2 % o f bon d s o u t is p a y a b le
an n u ally t o a sin kin g fu n d . A r o s u b . to ca ll on a n y in t. d a te a t 105.
In t. a t
A lerch a n ts’ B a n k or C a n a d a , N . Y . $ 2 5 ,0 0 0 J a c k . G a s L . & C . r e tir e d .
R O A D .— O perates a b o u t 7 .6 5 m iles o f tra ck a n d also d o c s ele ctric lig h tin g
an d gas business in J a c k s o n v ille .
14 m o to r cars an d 9 o th e r s .— -V . 9 5 , p .
1542; V . 9 7 , p . 1733.
(5) P e o r ia R a ilw a y C o .— A tr o lle y r o a d .
O R G A N I Z A T I O N .— In c o r p o r a te d u n d e r gen eral r a ilro a d law s o f Illin ois
In 1906 a n d is s u ccessor to th o C e n tra l R a ilw a y C o .
lia s a c q u ir e d , ow n s
a n d c o n tr o ls all s tr e o t r a ilw a y lin es in P eoria an d o u t ly in g su bu rbs o f A v e r y v ille , Peoria H eigh ts an d E a s t P e o ria . T h e en tire s t o c k Is c o n tr o lle d b y
th o Illin ois T r a c t io n C o .
N . W . H a ls e y & (J o ., N o w Y o r k an d C h ic a g o ,
offe r e d tho 1st a n d r e f. b o n d s fo r sa le. V . 8 9 , p . 42.
Favorable D ec is io n .— O n O c t . 26 1911 th o Illin ois S ta te S u p rem e C o u r t,
reversing th o C ir c u it C o u r t , h o ld th a t th e C i t y C o u n c ils c o u ld n o t g ra n t a
fra n ch ise t o th o P eoria I t y . T e r m . C o . o v e r streets to w h ic h th e P e o ria R y .
a lrea d y h old a fra n ch ise .
V . 9 3 , p . 1535.
In D e c . 1912 in crea sed its s to c k fro m $ 1 ,0 0 0 ,0 0 0 t o $ 1 ,0 1 0 ,0 0 0 .
S T O C K A N D B O N D S — • D a te.
In terest.
O utstanding.
M a tu rity .
S t o c k , $ 1 ,0 1 0 .0 0 0 ..........................................................
$ 1 ,0 1 0 , 0 0 0 .......................
C en tra l R y firs t m o r t g a g e ,/ 1895
5 g A -O
570 ,0 0 0 A p r 1 1915
$ 7 5 0 ,0 0 0 , g (8 1 , 0 0 0 ) - C * . t f l l n t . a t N e w Y o r k T r u s t C o . , N . Y . , T r u s te o .
F irst & r o f m tg o , $ 3 ,6 0 0 ,0 0 0 ./ 1906
5 g F -A
2 ,3 9 4 ,0 0 0 Seo te x t.
g o ld ($ 1 ,0 0 0 )_________ c * t f( i n t e r e s t p a y a b le In N e w Y o r k .
G en eral m o r tg a g e ....................t f 1909
5%
8 1 3 ,0 0 0
1926
Bonds.— O f th o $ 3 ,6 0 0 ,0 0 0 firs t an d re f. b o n d s , $ 5 7 0 ,0 0 0 aro reserved to
r e tir e prior liens an d $ 2 7 6 ,0 0 0 fo r a d d itio n s and im p ro v e m e n ts a t 7 5 % o f
co s t: $36 0 ,0 0 0 h a v e been re tire d . T h e y a re g u a r ., p . & L , b y en d o rse m e n t
b y Illin o is T r a c . C o . T h o b o n d s aro secu red b y a firs t m tg e . u p o n all p ro p e r
ties and fra n ch ises o f th o P eoria R y . C o ., n ow o w n e d o r h e re a fte r a c q u ir e d ,
s u b je c t o n ly to tho $ 5 7 0 ,0 0 0 u n d e rly in g b o n d s o f th o C e n tra l R y . C o . T h o
tru steo is th e Illin ois T r u s t & S a v . B a n k , C h ic a g o , 111. T h o b o n d s ex p ire
on F e b . 1 as follow s: $ 2 5 ,0 0 0 In 1908, $ 3 0 ,0 0 0 in 1909, $ 3 5 ,0 0 0 in 1910,
$55 ,0 0 0 in 1911, $ 6 0 ,0 0 0 in 1912, $ 6 5 ,0 0 0 in 1913, $ 7 0 ,0 0 0 in 1914, $ 7 5 ,0 0 0
in 1915, $ 8 0 ,0 0 0 in 1916, $ 8 5 ,0 0 0 in 1917, $ 9 5 ,0 0 0 in 1918, $ 1 0 0 ,0 0 0 in 1919,
$ 1 0 5,00 0 in 1920, $11 0 ,0 0 0 in 1921, $ 1 1 5,00 0 in 1922. $1 2 0 ,0 0 0 in 1923,
$12 5 ,0 0 0 in 1924, $ 1 3 0 ,0 0 0 in 1925. an d tho rem ain in g $ 7 5 0,00 0 in 1926.
T h e y aro s u b je c t to ca ll on a n y in te re st d a t e a t 105 and In te re st. See
V . 8 3 , p . 3 8 . 436; V . 8 9 , p . 42: V . 90, p . 560.
R O A D .— O w ns an d o p e r a to s 52 m iles o f s ta n d a rd -g a u g e tr a c k , 90 m o to r
ca rs, 40 o th e r ca rs. A lso ow n s v a lu a b le p r o p e r t y n oar th o c o n t r o o f c it y an d
con s id ora b lo oth er real e sta te , Inclu din g soveral am u se m e n t park s, estim a ted
to b o w orth $ 5 0 0 .0 0 0 — V . 90, p . 560; V . 92, p . 1500; V . 9 3 , p . 1535.
(6) T o p e k a R a il w a y C o .
O R G A N I Z A T I O N .— I n c o r p . u n d e r go n e ra l ra ilw a y law s o f K a n sas in
1892; in 1903 a b s orb e d th e V in o w o o d P a rk I t y .. an d m a d e a n ew m tg e . fo r
$ 1 ,2 5 0 ,0 0 0 . O n Ju n o 4 1903 o b ta in e d a now 3 0 -y e a r fra n ch ise, ru n n in g fro m
th a t d a te , w ith th e p ro v isio n th a t $ 4 0 0 ,0 0 0 b o e x p e n d e d w ith in 3 y e a rs on
th e s y s tem . A ls o has secu red franchises in p e r p e tu ity o n c o u n t y ro a d s n ow
o c c u p ie d , w ith p riv ile g e o f h au ling fre ig h t. C it y agrees n e v e r t o re d u ce
rates to w here c o m p a n y w ill earn less than 1 0 % o n s t o c k . T h e c it y Is to
r ecelv o 1 0 % o f earnings rem ain in g a fter 10% has been ea rn ed . U p o n e x ­
p iration o f fra n ch ise c it y has t h o rig h t t o a cq u ire th o p r o p e r ty , b u t n o t
b e fo r e . V . 76, p . 866 , 1302.
, ,
K an sas R y . & L ig h t C o . (h o ld in g c o m p a n y ) has $ 1 ,4 3 6 ,0 0 0 t e m p o r a r y
b o n d s o u t , d u o 1935. V . 92. p . 1243.
STOCK AN D BO N DS—
D a te.
In terest.
Outstanding.
M a tu rity .
$ 1 ,2 5 0 ,0 0 0 f . p . _ ...............
S t o c k , $ 1 ,2 5 0 ,0 0 0 ($ 1 0 0 ).................................. ............
F irst m tg o, $ 1 ,2 5 0 ,0 0 0 , g o ld ? 1904
5 g J-J
1 ,160.000 Jan 1 1930
( 5 1 ,0 0 0 )............................ c * t f l I n t. a t C e n t . * C o m m . T r .* S .B .,C h ic .,T r u s .
B onds.— R em a in in g b o n d s aro re served fo r 8 0 % o f c o s t o f now p o w e r h ou so an d for b etterm e n ts an d a d d itio n s . F ifte e n b o n d s per an n u m , b e ­
gin n in g w ith N o . 1, can b o ca lled a t 105 an d in terest u n til Jan . 1 1915, w hen
en tiro issue is s u b je c t to ca ll a t th a t p r ice . $ 9 0 ,0 0 0 h a v e been re tire d . A
sin kin g fu n d b eg a n Jan . 1 1910, w h ich is s u ffic ie n t to retire $ 1 5 ,0 0 0 p er
ann um a t 105 and interest.
„ ,,
R O A D .— O w ns 33 m . o f tr o lle y ; 70, 75 an d 8 0 -lb . rail. O perates 30 ca rs,
O F F I C E R S .— P r e s ., W . B . M c K in le y , C ham paign,111.; V . - P . , C h a s!
Z llly , C h a m p a ig n ; S e c ., E . A . M a c N u t t , M o n tr e a l; T r e a s ., G . A I. A la ttis.
— V . 8 1 , p . 728; V . 8 2 , p . 101; V . 9 0 , p . 915 , 978
IN T E R U R B A N R O A D S .
(7) B l o o m i n g t o n D e c a t u r & C h a m p a i g n R R .
O R G A N I Z A T I O N .— -In co rp o ra te d in Illin ois o n N o v . 29 1910 as a c o n ­
s olid a tion o f th o C h ic a g o B lo o m in g to n & D e ca tu r R y . an d S t. L o u is D e ca tu r
& C h a m p a ign R y . O p era tos on p riv a te rig h t o f w a y e x c e p t th ro u gh cities
a n d tow n s (8 m iles) w h ere fra nchises exten d to o r b e y o n d 1953.




27

STOCK AN D BO N DS—
D a te.
In terest.
O utstanding.
M a tu rity.
C o m m o n , $ 3 ,0 0 0 ,0 0 0 - - ....................................... .........
$ 3 ,0 0 0 ,0 0 0
................
6 3 7 ,5 0 0 .......................
P referred 5 % ($ 6 3 7 ,5 0 0 )...............................................
1st & r e f m tg e , $ 1 5 ,0 0 0 ,0 0 0 , g ] 1910
5 g A I-N
1,5 0 0 ,0 0 0 N o v 1 1940
($ 1 ,0 0 0 c o u p & $ 1 ,0 0 0 o r j In te re st a t Illin o is T r u s t & S av in gs B a n k ,
m u ltip ro g .) g u p * i . c * * r * t f 1 C h ic ., T r u s te e , o r C h a se N a t . B a n k , N . Y .
G en eral m o r tg a g e ...................... / 1910
5 M -N
1.390,000 N o v 1 1940
[C e n tr a l T r u s t C o . o f Illin o is, T r u s te e .
Stock.— O f th e $ 6 3 7 ,5 0 0 p r e f. s to c k o u t , $ 4 1 2 ,5 0 0 is Series “ A ” an d
$ 2 2 5 ,0 0 0 is Series " B . ”
B on ds.— O f th o $ 1 3 ,5 0 0 ,0 0 0 " 1 s t & r e f .” b o n d s reserved fo r variou s p u r­
p o se s, $ 6 ,7 5 0 ,0 0 0 are reserved fe r a c q u isitio n s o f tw o c o n n e c tin g in teru rb a n
roa d s (D a n v ille U r b a n a * C h a m p a ign a n d Illinois C e n tra l T r a c .) ,$ 1 ,1 5 9 ,0 0 0
to redeem th e general m tg e . b o n d s. $47 2 ,0 0 0 to re p la c e g en eral m tg e . b o n d s
issu ed in th e fu tu re an d $ 5 ,0 1 6 ,0 0 0 fo r 8 0 % o f cash c o s t o f a d d itio n s an d
im p ro v e m e n ts . T h e s e $ 5 ,0 1 6 ,0 0 0 b o n d s , e x ce p tin g $ 5 0 0 ,0 0 0 (issu ab lo a t
a n y tim e fo r 8 0 % o f c o s t o f a d d itio n s a n d im p ro v e m e n ts , w ith con sen t o f
N . \V. H alsey & C o .) ca n b e issued o n ly w hen th e p re ce d in g 12 m o n th s ’
gross earnings h a v e e q u a le d fiv o tim es a n d net earnings I K tim e s th e inter­
est ch a rg o o n all b o n d s o u ts ta n d in g an d th o s e p ro p o s e d t o b e issu ed.
B on ds
aro u n co n d itio n a lly g u a r ., p . & i . , b y Illin ois T r a c . C o . T h e y aro redeem a­
b le a t 105 on a n y in t. d a te . V . 9 2 , p . 25 9 . I n t . o n general m tg e . b o n d s is
p a y a b le at o ffic e o f A le r c h a n ts ’ B a n k o f C a n a d a , N e w Y o r k .
R O A D .— O w n s an d o p era tes 97 m iles o f track (89 m iles, m ain lin o; 8
m iles sidin gs) e xte n d in g fro m B lo o m in g to n th ro u gh D e ca tu r t o C h a m p a ign
an d U rb an a. 60 and 7 0 -lb . rails. S tan d ard g a u g e .
187 cars an d 2 lo c o ­
m o tiv e s .
(8) D a n v ille U r b a n a & C h a m p a i g n R y .
O R G A N I Z A T I O N .— In c o r p o r a te d in Illin ois u nd er th e railroad law on
J u ly 28 1902. O w ns th o D a n v ille P a x to n & N o rth e r n R y . A lo s t ly p riv a te
rig h t o f w a y .
STOCK A N D BON DS—
D a te. In terest.
O utstanding.
M a tu rity.
S to c k $25 0 ,0 0 0 .................................... - ..........................
$ 2 5 0,00 0 ------------------F irst in o rtg a g o $2 ,0 0 0 ,0 0 0 1 1903 5 g A I-S
2 ,0 0 0 ,0 0 0 A lc h . 1 1923
g o ld $ 1 ,0 0 0 ) g u a ra n te e d ] In terest a t A g e n c y o f B a n k o f A lo n t r e a l.N .Y .
c * t f ------------------------------------ ( N o rth e rn T r u s t C o ., C h ic a g o , T ru stee.
S e co n d m o rtg a g e $ 5 0 0 .0 0 0 ( 1905 6 g J -J
2 9 2 ,0 0 0
See te x t,
g o ld ($ 1 ,0 0 0 ) se ria l— c * t f / I n t . a t A g e n c y A le r c h a n ts ’ B k . o f C a n ., N .Y .
6%
7 0 0 ,0 0 0 ____________
G eneral m o r tg a g e b o n d s . . t f ____
Bonds.— T h o first 5s h a v e n o s in k , f d ., b u t a r o s u b j. to call on a n y in t. d a te
u p o n 90 d a y s ’ n o tice at 105 & in t. T h o b o n d s aro g u a r ., p . * L , b y en d . b y
D a n v . S t. R y . & L t . C o . an d U rb an a & C h a m p a ig n R y ., G as & E le c . C o .
V . 81, p . 264 . T h o 2d 6s m atu re $50 ,0 0 0 on Jan . 1 1908 an d $ 5 0 ,0 0 0 each
Jan . 1 th ereafter. T h e $ 5 0 ,0 0 0 d u o on Ja n . 1 1908 an d $ 50 ,000 d u o Jan . 1
1909, as w ell as $ 4 2 ,0 0 0 o f th e $ 5 0 ,0 0 0 d u e Ja n . 1 1911. w ere ex te n d e d ,
$20 8 ,0 0 0 h a v e been re tire d . T h e y are s u b je c t to call a t par on 30 d a y s
n o tico . A r o g u a r ., p. & i., b y 111. T r a c . C o . T ru ste e s are M o n tr e a l T r . &
D e p . C o . an d T h o s . F y slie .
_ _ _ _ _ _
R O A D .— O peratos 70.1 m iles o f track o v e r p riv a te rig h t o f w a y , c o n n e c t ­
ing th e cities o f D a n v ille , U rb an a an d C h a m p a ig n , w ith bran ch es fro m D a n ­
v ille to G e o rg e to w n an d R id g e F a rm ; D a n v ille t o C a tlin an d O gd en t o
H o m e r. 7 0 -lb . rails. H as 23 m o to r ca rs, 10 ele ctric lo c o m o tiv e s an d
164 m iscella n eou s cars.
O F F I C E R S .— P r e s ., \V. B . A IcK in le y ; S e c ., E . A . A la c N u t t ; T r e a s .,
G e o . M . M a t t is .— V . 8 1 . p . 264; V . 83, p . 435; V . 8 4 , p . 338; V . 8 8 , p . 563 .
(9)
I ll i n o i s C e n t r a l T r a c t i o n C o .— A trolley r o a d .
O R G A N I Z A T I O N .— In c o r p o r a te d in Illin ois in 1903 u n d e r general
railroad law s. M o s t ly p riv a te rig h t o f w a y .
STOCK AN D BO N DS—
D a le. In terest.
O utstanding.
M a tu r ity .
S I , 100,000 ------------------S to c k $ 1 ,1 0 0 ,0 0 0 ................. ..........................................
1st m tg o , $ 2 ,0 0 0 ,0 0 0 ($ 1 .-1 1903 5 g J -D
1,469.000 D e c 1 1 9 3 3
000) g o ld , g u a r ---------- c * t f J I n t. at O ld C o lo n y T r . C o . , B o s to n , tru stee.
T e m p o r a r y general m o r t
t f ____
5 * 6
7 4 6 .0 0 0 1 9 2 9 * 1931
B onds.— A ro s u b je c t to call o n a n y in terest d a te on 60 d a y s ’ n o tico at
1 0 7 'A an d in t. A r o gu a ra n te e d , p . & i ., b y Illin ois T r a c tio n C o . V . 8 2 ,
p . 804 . A sinking fu n d o f 1 0 % o f n et earnings b e ca m e o p e r a tiv e D e c . 1
1908, b u t n o t t o b o less th an 1 % o f b o n d s o u ts ta n d in g . $ 8 4 ,0 0 6 held in s . f d .
" r O A d .— O peratos 4 5 .5 m iles o f track fro m D e ca tu r to S p rin g field , w ith
an extension fro m B u ffa lo to A lech a n icsb u rg; 7 0 -lb . rails. H as 11 m o to r
cars, 1 ele ctric lo co m o tiv e an d 53 m iscellaneous cars.
O F F I C E R S .— P res., W . B . A IcK in le y ; S e c ., E . A . A la c N u tt; T r e a s .,
G e o . M . A lattis; G e n . A lg r ., M . E . C h u b b u c k .
V . 8 2 , p . 804; V . 8 4 , p . 3 3 9 .
(10) S t . L o u i s S p r i n g f ie l d & P e o r ia R R .
O R G A N I Z A T I O N .— In c o r p o r a te d in Illin ois D e c . 1 1909 as a co n s o lid a ­
tio n o f the S t. L ou is & S p rin gfield R y ., th e S t. L o u is & S ta u n to n I t y ., th e
T r i-C it y T r a c . C o . an d the S t. L o u is & N o rth e a ste rn R y . O perates on
p riv a te rig h t o f w a y e x ce p t th ro u gh cities an d to w n s (a b o u t 17 m ile s ), w here
fra n ch ises e xten d t o o r b e y o n d 1953. In 1911 a cq u ire d th e S p rin gfield
In 1912 acq u ire d the P eoria L in coln & S p rin gf. R y . C o . , th o P e o ria B lo o m .
& C h a m p a ign T r a c . C o . , th e T erm in al P o w . C o . a n d th e S p rin gfield &
N o rth e a ste rn T r a c tio n C o . (acqu ired N o v . 1 1913).
lia s lo n g -tim e c o n tr a c ts fo r use o f b rid ge an d term inals o f S t. L o u is E le c ­
tric B rid g o C o . a n d S t. L o u is E le ctric T erm in al R y ., e n ab lin g it t o op era te
d ir e ctly in to S t. L o u is.
__
_
STOCK A N D B O N D S D a te .* In terset."“ ' Outstanding.
M a tu rity:
C o m m o n $ 6 ,0 0 0 ,0 0 0 ($ 1 0 0 )............................. .........
$ 6 ,0 0 0 ,0 0 0 ......................
P ro f. $ 2 ,5 7 2 ,0 0 0 ($100) 5 % .............- .........................
2 ,5 7 2 ,0 0 0 .......................
1st & r o f m tg o $ 1 5 ,0 0 0 ,0 0 0 g f 1909
5 J -D
4 ,6 5 3 ,0 0 0 D e c 1 1 9 3 9
($ 1 ,0 0 0 c o u p & $1,0 0 0 o r ] Illinois T r u s t & S av B k , C h ic a g o , trustee
m u ltip les r e g .) -------c * * r * t f [in te r e s t in N e w Y o r k , C h ic a g o o r L o n d o n .
St L o u is & S prin gfield 1st M l 1903
5 g J -D
451 ,0 0 0 D e c 1 1933
($1,000) s f g o ld gu ar c * - t f ) In terest a t C it y T r u s t C o . , B o s to n , tru stee.
S t L S p & P gen M $ 1 5 ,0 0 0 ,0 0 0 t f ____
5%
4 ,1 5 7 ,0 0 0
1939
S prin gfield & N o rth e a s te r n ] 1906
5 g J -D
145,000 D e c 1 1936
T r a c tio n 1st m tg o $ 1 ,5 0 0 ,- ] I n t . at a g e n c y A le rch . B a n k o f C a n ., N . Y .
000 ($ 1 ,0 0 0 ) g o ld _______c * [
C en tral T r u s t C o . o f Illin o is, T ru stee.
P eo ria B lo o m in g to n & C h a m ] 1906
5 g A I-N
2 80 ,000 N o v 1 1936
T r a c 1st M $ 3 ,0 0 0 ,0 0 0 g o ld ] In t. at a g e n c y A le rch . B k . o f C a n d a a , N . Y .
( $ 1 , 0 0 0 ) ______________ c * t f [
C en tral T r u s t C o . , C h ic a g o , T ru stee.
B on d s.— -Of th o $ 1 0 ,3 4 7 ,0 0 0 1st & re f. b o n d s reserved fo r v ariou s p u rp oses,
$14 5 ,0 0 0 aro reserved fo r S pringfield & N o rth e a ste rn T r a c t io n C o . b o n d s ,
$ 7 1 5 ,0 0 0 t o rotire p rio r lion s, $ 2 ,2 5 0 ,0 0 0 t o redeem a lik e a m o u n t o f g eneral
m o rtg a g o b o n d s an d $ 7 ,2 3 7 ,0 0 0 fo r 8 0 % o f cash c o s t o f a d d itio n s an d ex­
te n sio n s. T h o $ 7 ,2 3 7 ,0 0 0 an d tho $ 2 ,2 5 0 ,0 0 0 fo r r e d e m p tio n o f g en . m tg e .
b o n d s (to ta l $ 9 ,4 8 7 ,0 0 0 ), e x ce p tin g $ 5 0 0 ,0 0 0 (issu ab lo a t a n y tim e fo r 8 0 %
o f c o s t o f a d d ’ns & im p ts .) can b e issued o n ly w h e n , fo r th e p re ced in g 12
m o n t h s , g ross earnings h a v e equ a led fiv e tim es an d n e t earnings I K tim es
th o in terest ch a rg o o n all b o n d s ou tsta n d in g a n d th ose p ro p o s e d t o b e issu ed.
R e d e e m a b le a t 105 o n a n y Int. d a te . B o n d s are u n c o n d itio n a lly g u a r .,
p . & L , b y Illin ois T r a c . C o .
V . 90, p . 304; V . 9 5 . p . 177. A re listed on
C h ic . S to c k E x c h . S t. L o u is & S pringfield 1st A I. b o n d s are s u b j. t o call
on a n y in t. d a to o n 60 d a y s ’ n o tico at 1 0 7 K & In t. A r e g u a r ., p . & L , b y
111. T r a c . C o .; $ 8 6 ,0 0 0 o f b o n d s held In s. f.
P eoria B lo o m . & C h a m . T r . 1st AI. b o n d s are g u a r ., p . & L . b y 111. T r a c ,
C o . T lio y aro su b je c t t o c a ll.o n any.Interest. d a te a t 105 on ,3 0 d a y s ’ n o tice .
E a rn in g s.— F o r 12 m o n th s e n d . J u ly 31 1912, g ro s s , $ l,3 7 8 ,2 6 7 ;_ n e t a fter
ta x e s , $ 4 8 8 ,2 0 9 ; in te re st, $ 2 7 5 ,6 5 0 ; su rp lu s, $ 2 1 2 ,5 5 9 .
R O A D .— -E xtends fro m V en ice, o p p o s ite S t. L o u is , to P eoria an d B lo o m ­
in g t o n , w ith b ran ch es fro m S ta u n ton t o H illsb o ro . T r a c k a g e , 2 1 0 .4 9 m iles;
m ain tr a c k , 10.1 0 m iles b e lt lin e , 0.2 9 m iles se co n d t r a c k , 23 .0 6 m iles o f s id ­
ings a n d tu rn o u ts an d 7 .5 9 m iles o f in du stria l tracks; to t a l, 2 51 .53 m iles.
S tan d ard g u a g o . O w ns 411 cars and 4 lo co m o tiv e s a n d leases 52 ca rs.—
V . 9 4 , p . 1120; I V . 95, p . 177, )237; V . 9 8 ,/p . 6 9 1 . ^
O T H E R P R O P E R T I E S A N D R O A D S U N D E R jC O N S T R U C T I O N . <_
(11) D a n v ille & E a s te r n I ll i n o i s R y .
S to c k , $ 1 2 5 ,0 0 0 . T e m p o r a r y b o n d s t o th o a m o u n t o f $ 5 0 ,0 0 0 ( 5 % ) are
o u tsta n d in g , d u o 1927.
(12) D a n v ille & S o u t h e a s t e r n R y . C o .
O R G A N I Z A T I O N .— In co rp o ra te d in Illinois on J a n . 14 1909'*J
STOCK AN D BON DS— .
Date.'' Interest.
O utstanding.**■•: M a tu rn u .
-4
S t o c k __________________________ A ll ow n e d b y Illin ois T r a c tio n C o .
First m o rtg a g o $10 0 ,0 0 0 g o l d ,) 1909 5 g J-J
$60 ,000 J u l y 1 1 1929
($ 1 ,0 0 0 )........ ........... .. c & r t f / l n t . a t C en tral T r u s t C o . , C h ic a g o , tru stee.
B on ds.— S u b je c t to ca ll at 105 and in t. on a n y in t. d a te . G u a ra n teed ,
p . & L , b y Illin ois T r a c tio n C o .
sm
R O A D .— O perates 7 m iles o f road fro m D a n v ille C it y I im its Ito „G ra p e
C reek co a l d is tric t. 7 0 -lb . rails.
.
O F F I C E R S .— S am o as th o s e fo r Illin o is C e n tra l T r a c t io n ..C o.

*8

ELECTRIC RAILWAYS

(13) Des M o i n e s 'C e n t r a l Iowa Electric Co.— A h o ld in g c o m p a n y .
O R G A N I Z A T I O N .— C o n tr o ls th o I o w a s u b s id ia ry p ro p e rtie s o f th e
Illin ois T r a c tio n C o . , w h ic h in clu d o th e e le ctric-lig h t and p o w e r c o m p a n y ’s,
s ervin g D e s M o in e s , O sk a loosa , C o lfa x , N o w V a lle y J u n ctio n , N e w S h a ron .
P rairie C it y an d M o n te z u m a an d th e street railw ays in O sk a lo o sa . C o n ­
trols th e D e s M o in e s E le c t r ic C o . an d th e O sk aloosa T r a c tio n & L ig h t C o .»
T h e b on d s o f th is c o . are secu red b y p le d g e o f § 2 2 6 ,0 0 0 gen . m tg e . 6 %
b o n d s o f t h o D e s M o in e s E le c . C o . (to ta l o u t) a n d all th e c o m m o n and p ro f,
s t o c k o f th e sam e c o . A ls o $ 1 7 ,0 0 0 g e n . m tg e . b o n d s an d all th o s to c k o f
t h e O sk a loosa T r a c t io n & L ig h t C o .
STOCK AN D B O N D S—
D a te.
In terest. O utstanding.
M a tu rity .
S t o c k , $ 1 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) -------— A ll o w n e d o r c o n tr o lle d b y 111. T r a c . C o .—
S k f d g o ld b o n d s, $ 1 0 ,0 0 0 ,0 0 0 ( 1913 6 g M -S
$ 1 ,1 5 0 ,0 0 0 S ept 1 1937
($ 5 0 0 Sc $ 1 ,0 0 0 ) red a t 105] In te re st a t F irst N a tio n a l B a n k , N e w Y o r k ,
& in t g u ar p & I an d s f b y 1 o r tho C e n tra l T r u s t C o . o flllin o is ,T r u s t e e ,
en d b y Illin ois T r a c C o ..c * I
D e s M o in e s E le c 1st M $5,-1 1908
5 M -N
1 ,9 0 7 ,0 0 0 N o v 1 1938
0 0 0 ,0 0 0 ($ 1 ,0 0 0 ) s f -------t f/I n t e r e s t a t A m e rica n T r u s t C o . , B o s to n .
O sk T & L t C o b d s $30 0,0001 1903
5 g J -J
2 4 5 ,0 0 0 Jan 1 1923
($ 1 ,0 0 0 ) g o ld sink fu n d ..c * U n t . a t U . S. M t g e . & T r u s t C o . , N . Y .,T r u s .
Bonds.— A d d itio n a l sin k in g fu n d g o ld b o n d s can o n ly b e issued fo r 8 0 %
o f th o c o s t o f im p ro v e m e n ts , & c ., t o the su b c o s ., a n d certa in o th e r r e s tric ­
t io n s . A n n u a l sin kin g fu n d o f I A % o f b o n d s o u t b egin s S e p t. 1914.
D e s M o in e s E le c . C o . 1st M . b o n d s are s u b je c t t o call a fte r N o v . 1 1914
a t 105. Sinking fu n d , 1 % o f b o n d s N o v . 1 1914-21; l 'A % 1926-31: 2 %
1 93 1-3 7. O sk aloosa T r a c . & L ig h t b o n d s h a v o sin k in g fu n d o f $ 5 ,0 0 0 to
b e d e liv e red t o trustee a n n u a lly . V . 9 8 , p . 8 3 9 , 1536.
(14) Madison C oun ty Light & Power Co.
Is a c o n s o lid a tio n in 1906 o f th o E d w a r d s v illo L ig h t & P o w e r C o . an d 'h e
G ra n ite C it y -V e n ic e E le c tr ic C o .
S u p p lie s lig h t a n d p o w e r to E d w a rd sv llle , G ra n ite C it y , V e n ic e an d B r o o k ly n . In D e c . 1912 Increased its s to c k
fr o m $ 1 0 0 ,0 0 0 t o $ 3 3 5 ,0 0 0 . S to c k a ll o w n e d b y Illin o is T r a c tio n C o .
STOCK AN D BO N DS—
D a te.
In terest. O utstanding.
M aturity
S to c k $ 3 3 5 ,0 0 0 ____ _______ __________
___________
$3 3 5 ,0 0 0 .
1st m tg o $ 1 ,0 0 0 ,0 0 0 ($ 1 ,0 0 0 ) / 1906
5 g J -D
5 3 1 ,0 0 0 D e c 'Y ? 9 3 6
g o l d -------------------------------c * t f j l n t . a t a g c y . M e r ch a n ts ' B k . o f C a n a d a .N .Y
l C e n tra l T r u s t C o . o f Illin o is, T ru s te e .
Bonds.— G u a r. p . an d i. b y Illin ois T r a c tio n C o . C a n b o ca lled on
fo u r w e e k s ’ n o t ic e o n a n y in t. d a y a t 105. N o sin kin g fu n d .

(15) St. Louis Electric Bridge Co.
O R G A N I Z A T I O N .— In c o r p o r a te d in Ja n . 1907. O w n s a b r id g e fro m
S a lisb u ry S treet, S t. L o u is , to V e n ic e , 111. In A p ril 1909 c o m p a n y in ­
creased c a p ita l s to c k fro m $ 2 ,5 0 0 to $ 1 ,0 0 0 ,0 0 0 .
V . 8 8 . p . 946 . S to c k all
o w n e d b y Illinois T r a c t io n .
F o r fra n ch ise p ro v is io n s , see V . 8 5 . p . 100.
C on s tr u c tio n w as sta rted in O ct. 1907 a n d b r id g e w as fo rm a lly o p e n e d
o n N o v . 10 1910.
V . 8 5 , p . 100: V . 8 8 , p . 946: V . 9 1 , p . 1328.
F irst m tg o . gold ( 5 % ) , a u t h . , $ 3 ,5 0 0 ,0 0 0 ( $ l,0 0 0 ) t f ;o u t s t a n d i n g ,$ 2 ,5 9 2 ,000 ; d a te 1913. E . B e n tle y H a m ilto n , P e o r ia , tru stee. T h is m tg e . re­
places th e old (tem p ora ry ) m tg o . o t 1909. V . 9 8 , p . 74.

(15) T opeka Edison Co.
O R G A N I Z A T I O N .— O n M a r . 1 1910 Illin o is T r a c . C o . pu rch ased p r o p ­
e r t y . O p erates ele ctr ic -lig h t an d s te a m -h e a t p la n t in T o p e k a , K a n . B on d s
a u t h ., $ 1 ,2 5 0 ,0 0 0 ; o u t , $ 8 2 0 ,0 0 0 : d a te d 1 9 0 5 ,d u e S e p t . 1 1 9 3 0 ;in t. ( 5 % ) t f .
J .-J . a t C o n t . & C o m m . T r . & S a v . B a n k , C h ic a g o , tru stee. Sinking fu n d
$ 1 5 ,0 0 0 p e r a n n u m , p a y a b le D e c . 15. $ 6 0 ,0 0 0 h a v o been retired .

WESTERN RAILW AYS & LIGHT CO.
In N o v . 1913 w as taken o v e r b y th o Illin ois T r a c tio n C o . , w h ich ow ns all
th e c o m m o n s to c k . See p lan o f exch a n g e o f s to c k u n d er “ Illin ois T r a c ­
tio n C o . " and in V . 9 7 , p . 1426, 1504.
O R G A N I Z A T I O N .— I n c o r p o r a te d M a r c h 1907 in M a in e an d ow n s all the
c a p ita l s to c k o f th e follow in g :
A tc h is o n R y . L t. & P o w e r C o .
J e ffe rso n C i t y B r id g o & T r a c . C o .
C a ir o C it y G as C o .
Jefferson C it y L t ., l i t . & P o w e r C o .
C a ir o E le c tr ic Sc T r a c tio n C o .
M o u n d C it y L ig h t Sc AVater C o .
C a iro & S t. L ou is R y . C o .
M arseilles AVater & L ig h t C o .
C h ic a g o O tta w a & P eoria R y . C o .
N o rth e rn Illin o is L ig h t & T r a c . C o .
C itiz e n s ’ L t g . C o . o f L a Salle & P eru O sk a lo o sa L ig h t & F u e l.
G a lesb u rg E le c . M o t o r & P ow er C o O m a h a & L in c o ln R y . Sc L ig h t.
G a lesb u rg G as & E le c . L ig h t C o .
P e o p le ’s T r a c tio n C o .
G a lesb u rg R a ilw a y & I.ig h t C o .
Q u in cy R a ilw a y C o .
G a lesb u rg R y . , L ig h t Sc P o w e r
W ich ita R R . & L ig h t C o .
W esten i R a ilw a y s & L ig h t, w ith th e Illin ois T r a c t io n , w ill furnish through
s e r v ic e betw een C h ic a g o an d S t. L o u is w h en C h ic a g o co n n e c tio n is c o m ­
p le te d . V . 90. p .2 3 8 .
STOCK AN D BON DS—
Rate.
O utstanding. Dividends.
C o m m o n ($ 1 0 0 ).......... ...............................................
$ 4 ,5 2 1 ,8 0 0
P r e f., $ 3 ,5 0 0 ,0 0 0 ($100) c u m .........................6 Q -J
3 ,1 6 9 ,0 0 0
See te x t.
D e b e n tu r e b o n d s ________________________ t f _____
1,6 4 5 ,0 0 0 ____________
Stock.— B efo re a u th . a m o u n t o f p r e f. s to c k can b o in crea sed , surplus earn­
ings a b o v e expenses a n d in t. fo r p re v io u s y e a r m u st b e equa l to 9 % o n all
p r e f. 6 tock issued a n d t o b e issu ed. V . 9 0 , p . 238.
D ividends h a v e b een p a id o n p r e f. s in ce o rg a n iz a tio n .
R E P O R T . — O f c o n tr o lle d co m p a n ie s fo r ca le n d a r y e a rs. R e p o rt fo r
1913 In V . 9 8 , p . 1457.
E arn ings—
1913.
1912.
1911.
1910.
I n t e r u r b a n _______________ $ 5 4 8 ,7 4 6
$ 4 3 0,67 9
$ 3 7 3,92 0
$35 3,19 8
S treet ra ilw a y ......................
9 4 2 ,4 3 2
9 19 ,569
925 ,105
839 ,956
G a s---------------------- -------------3 5 0 ,4 6 2
354 ,7 0 3
3 40 ,659
210,859
E le c t r ic ligh t and p ow er..
6 5 9 ,3 6 4
528 ,942
3 62 ,052
251,878
S tea m h e a t, w a te r, & c__
4 0 ,6 8 0
3 3 ,3 6 7
27.619
23,810

[Vol. XCVIII

R O A D .— O p e ra te s 9 m iles o f track in C a ir o , to g e th e r w ith th o ele ctric
lig h tin g an d p o w e r p la n t. 24 ca rs. F u rnishes c it y w ith 119 a rc a n d 196
n c a n d e sc e n t ligh ts; also su p p lies 40 co m m e rcia l a rcs .— V . 8 8 , p . 29 3 , 37 4 .
(3) C a ir o & S t . L o u is R y .
O R G A N I Z A T I O N .— In co rp o ra te d in Illinois O c t . 1908 to c o n s tr u c t a
lin e fro m C a iro t o E a s t S t. L o u is . H as a 5 0-year fra n ch ise in C a ir o , M o u n d
C it y an d M o u n d s .
STO CK A N D BO N DS—
D a le.
Interest.
O utstanding. M a tu r ity .
S t o c k , $ 3 0 0 ,0 0 0 ................................................................
$ 2 5 0,00 0 - ............. - - ­
F irst m tg o , $ 2 5 0 .0 0 0 ,g -C & r tf / 1908
5 g M -N
2 50 ,000 N o v 1 1938
„
J
^
.
.
l P o r t l’d (M o .)T r .C o .,T r u s .,& F .D .L u n t ,P o r tl’d
B on d s.— C o u p o n b o n d s aro in $ 1 ,000 pieces an d registered in a n y d esired
a m o u n t. I n t . a t P o r tla n d ( M e .) T r . C o . N o s. f. and n o t s u b je c t t o c a ll.
R O A D .— 11.37 m iles o f tra ck c o m p le te d an d in o p e ra tio n ; 8 c a r s .— V .
8 8 , p . 293 .
(4) G a l e s b u r g R a il w a y & L i g h t .
In J a n . 1914 it w as r e p o rte d th a t th o G alesbu rg R y ., L t g . Sc P o w e r C o
h a d arran ged to ta k e o v e r th o p r o p e r t y . V . 9 8 . p . 155. See th o la tte r .
O R G A N I Z A T I O N .— In c o r p o r a te d in M a in e in 1904, an d is a c o n s o lid a ­
tio n o f th o G alosbu rg E le c tr ic M o t o r & P o w e r C o . an d th e G a le sb u rg G as Sc
E le c . L ig h t C o . Franchises oxpiro in 1920. In 1910 a new gas fra n ch ise
w as g ra n te d fo r 30 years.
STOCK A N D BON DS—
D a te.
Interest.
Outstanding.
M a tu rity .
S to c k , $ 1 ,5 0 0 ,0 0 0 ($ 1 0 0 )..............................................
$ 1 ,0 0 0 ,0 0 0 ........ ..............
N e w m o rtg a g o , $ 1 ,5 0 0 ,0 0 0 ,? 1904
5 g J-J
1,150,000 J u ly 1 1934
g o ld ($ 1 ,0 0 0 )............... .. c t f l i n t , a t P ortlan d T r . C o . , P o r tl’d , M e ., T r u s .
G alesbu rg G as & E le c L t fir s t ! 1899
5 g A -O
3 5 0 ,0 0 0 A p ril 1 1919
m tg e ,$ 3 5 0 ,0 0 0 ($ 1 ,0 0 0 ) - c t f l i n t , at P o rtla n d T r . C o . . P o r t l'd , M o ., T r u s .
Bonds.— T h e now $ 1 ,5 0 0 ,0 0 0 issue is s u b je c t t o ca ll o n a n y in t. d a te at
105 an d int; n o sinking fu n d ; $35 0,00 0 is reserved fo r th o p rio r lions.
R O A D .— H as 17.57 m iles o f tra ck . 41 cars. O w ns p o w o r -h o u so , g e n ­
eratin g cu rren t fo r b o th tho street ra ilw a y and e le ctr ic -llg n t p la n t, a n d also
do e s steam h eatin g. Sup plies 200 co m m e rcia l ca rs. 4 ,4 8 8 gas m e te rs in
u se.— V . 78, p . 238 4.
(5) Q u in c y R a ilw a y C o .
O R G A N I Z A T I O N .— I n c o r p . in Illinois in 1912 as su ccessor to th o Q u in cy
H o rso R y . Sc C a rry in g C o . V . 94, p. 1628.
D o e s en tire (e le ctric) streot railw ay businoss in Q u in cy .
P r in c lp a l/r a n chise is u n lim ite d , gran ted in 1865, an d e xclu sive ly fo r 50 y e a rs. O th or
fra n ch ises m a tu re fro m 1922 to 1937.
S T O C K A N D B O N D S —■ D a te.
Interest.
O utstanding. M a tu r ity .
S to c k , $ 1 ,0 0 0 ,0 0 0 .......... ........... .....................................
(?)
B o n d s , $ 1 ,0 0 0 .0 0 0 ............ .. t f 1912
5%
$ 9 5 5,00 0 F o b ? 1 1932
R O A D .— O perates 18.45 m iles o f tra ck ; 51 ca rs .— V . 94, p . 1628.
(6) W i c h i t a R a il r o a d & L i g h t . — T r o lle y .
O R G A N I Z A T I O N .— C h artered M a y 1 1900 fo r 30 years. S tre e t r a il­
w a y fra n ch ise oxpires 1933, ligh tin g in 1919. In 1910 ontorod in to a c o n ­
tr a c t, exten din g fo r 20 years, fo r p u rch ase o f po w o r fro m K ansas G as & E le c .
C o.
STOCK AN D BON DS—
D a te.
Interest.
Outstanding.
M a tu rity
S to c k , $ 1 ,5 0 0 ,0 0 0 ($ 1 0 0 )..............................................
$30 0 ,0 0 0 ................. ..
F irst
m o r tg a g e ,
$ 3 0 0 ,0 0 0 / 1900
5 g A -O
300 ,0 0 0
O ct 1919
($ 1 ,0 0 0 ), g o ld _______c . . t f l l n t . at P ortlan d T r . C o . , P o r tl’d , M o ., T r u s .
N e w m t g e .,$ 1 ,5 0 0 ,0 0 0 ,g o l d , t f 1907
5 g A -O
1,031,000 O c t 1 1932
Bonds.— 1st M . b o n d s are s u b je c t to call a t 105 o n 6 m o n th s ’ n o tico .
R O A D .— O w ns 32 m ilos o f tro lle y tra ck in AVichita, K a n ., Inclu din g
d o u b le -tra ck brid g e o v e r th o A rkansas R iv e r and exten sion s t o AVondorland
P a rk an d F a ir G ro u n d s; 75 ca rs .— V . 9 3 , p . 9 4 1 , 1192.
(7) C h i c a g o O t t a w a & P e o r ia R a il w a y C o .
O R G A N I Z A T I O N .— B o u g h t o u trig h t in 1909 th e Illin ois V a llo y R y .
O perates largely on p riv a te rig h t o f w a y . F ran ch ises In v a r io u s tow n s
m a tu re m o s tly a fte r 1950.
STOCK A N D BON DS—
D a te.
Interest.
Outstanding.
M a tu rity .
S t o c k ___________________________ A ll o w n e d b y AVestorn R y s . & L ig h t C o .
F irst co n s an d r e f m tg e , g u a r ,/ 1907
5 g J -D
$ 2 ,7 2 3 ,0 0 0 D e c 1 1938
$ 5 ,0 0 0 ,0 0 0 ($ 1 ,0 0 0 )____ t fI C e n t r a l T ru s t C o . o f Illin o is, T ru ste o .
Illin ois Val 1st M , $ 2 ,0 0 0 ,0 0 0 / 1905
5 g M -S
1 ,269,000 S e p t 1 1935
g ($500& $ 1 ,0 0 0 ),g u a r c - t f \ I n t . a t Irv in g N a t . B a n k , N . Y . C it y .
Bonds.— C h . O tt. Sc P e o . 1st M . b o n d s aro g u a r ., p . Sc 1., b y AVestorn R y s .
& L t . C o . $ 1 ,5 0 0 ,0 0 0 are reserved fo r p rio r lions. T h e y aro s u b je c t to call
on a n y in t. d a y on 30 d a y s ’ n o tico a t lO o. In t. a t M e r ch a n ts ’ B a n k o f C a n ­
ad a in N . Y . C it y . Illin ois V a lley b o n d s h a v o a sin kin g fu n d o f 1 H % per
ann um o f a m o u n t o u t; m tg e . w as o rig in a lly $ 2 ,0 0 0 ,0 0 0 , b u t on m erger w ith
C h ic . O tt. & P eoria th e $50 0,00 0 unissued w as c a n ce le d ; $ 2 3 1 ,0 0 0 h a ve
since beon retired . B o n d s aro g u a r ., p . & L , b y W estern R y s . & Lfc.
P o rtla n d (M o .) T r u s t C o . is tru stee. A r o s u b je c t t o ca ll a t 105.
E A R N I N G S .— F o r calen d ar ye a r 1912, gross, $ 37 3,87 4; n e t, $ 1 1 8 ,3 5 2 .
In 1911, gross, $31 9,38 0: n o t, $6 4 ,5 1 9 .
R O A D .— O perates fro m P r in c e to n , 111., v ia P e r u , L a Salle, U tic a , O t­
taw a, M arseilles, S eneca an d M o r ris t o J o lie t, a b o u t 107 m ., w ith bran ch es
fro m S pring V a llo y to L a d d an d fro m O tta w a t o S tre a to r, 16 m .; to ta l,
a b o u t 123 m .
R o a d fro m M o rris t o J o lie t w as p la c e d in o p e ra tio n in D e c .
1911; 85 cars.— V . 87, p . 812; V . 9 2 , p . 1374; V . 9 7 , p . 520 . 594.

(8) N o r t h e r n I ll i n o i s L i g h t & T r a c t i o n C o .— A tr o lle y r o a d .
O R G A N I Z A T I O N .— In co rp o ra te d in Illinois an d w as su ccessor in J u ly
1903 to the O ttaw a R y ., L ig h t & P o w e r C o ., sold u n d er fo re clo su re . F ra n ­
chise p erpetu al fo r lig h tin g a n d until M a rch 1924 fo r r a ilw a y .
H as c o n tr a c t
G ross e a r n in g s ............... $ 2 ,5 4 1 ,6 8 4 $ 2 ,2 6 7 ,2 6 0 $ 2 ,0 2 9 ,3 5 5 $1,679,701
T o t . n et r e v .a ft .t a x ,S e c .. $ 9 5 6 ,1 4 8
$ 8 7 3,00 1
$ 7 7 3,91 3
$62 0,11 9 fo r c it y lig h tin g . AVestorn R y s . Sc L ig h t C o . ow n s all th o s to c k .
O th er i n c o m e ____________
In S e p t. 1913 increased c a p . s to c k fro m $25 0,00 0 t o $ 7 5 0 ,0 0 0 . V . 97,
3 1 ,3 1 6
_______
_______
_______
p . 729.
T o t a l n e t in c o m e ........... $987,46-1
$873,001
$ 7 7 3,91 3
$620,119
STO C K A N D BON DS—
D a te.
Interest.
O utstanding.
M a tu r ity .
In te r e s t on b o n d s, & c _ ... $62 0,56 1
$ 5 3 6,39 9
$474,691
$356,488
S to c k , $ 7 5 0,00 0 ($ 1 0 0 )_____________
________
$ 2 5 0 ,0 0 0 .......................
P referred d iv id e n d s ______
190 ,140
160 .035
142,260
134.700
First m tg e , $ 1 ,2 0 0 ,0 0 0 , g o ld ? 1903
5 g J-J
*6 6 8 ,0 0 0 J u ly 1 1923
($500 and S l , 0 0 0 ) - - c * _ . t f l l n t . a t A m e rica n T r . C o . , B o s t o n , T r u s te e .
B a la n ce , su rp lu s............. $17 6 ,7 6 3
$17 6 ,5 6 7
$ 1 5 6,96 2 $128,931
♦All b u t $ 2 6 5,00 0 o f these b o n d s aro g u a r ., p. Sc I., b y e n d o r s o m o n t, b y
D u r in g 1913 $36 4,08 1 w as e x p e n d e d fo r m a in t ., renow als & b ottorm on ts. W estern R y s . Sc L ig h t C o .
. . .
,
B on ds.— N o sinking fu n d an d b o n d s ca n n o t b o c a lle d . R em a in in g b o n d s
R O A D .— C it y lines co n s titu te 93.36 m iles o f tr a c k , interu rb an lines c o m ­
prise 103.02 m iles; to ta l o f a ll lin es, 196.38 m iles o f tr a c k . C it y linos h a v e aro fo r a d d itio n s , extensions an d now p roperties.
173 m o to r an d 52 o th e r ca rs. In teru rban lines h a v o 45 m o t o r and 45
R O A D A N D P L A N T .— O perates 6 .5 m iles o f lin e, c o v e r in g tho p rin cip a l,
o th e r cars. O n D e c . 31 1911 co m p a n ie s w ere su p p ly in g 798 a rc an d 119,367 streets o f O tta w a , an d also runs o u t o f th e c it y t o E llis P a rk , a ploasure
In can d escen t ligh ts. 9,7 2 5 gas m eters w ere In use. 8 p o w e r h ou ses, with resort o n th o Illinois R iv e r . A lso has extensions fro m O tta w a to C h a u ta u ­
33 g en era tors, to ta l c a p a c ity 12,340 k . w .
q u a P a rk . E q u ip m e n t, 8 m o to r an d 3 o th er cars.
H as b o th s te a m an d
O F F I C E R S .— P r e s ., AV. B . M c K in le y , C h a m p a ig n ; V .-P r e s ., G e o . F . w a te r-p o w e r p lan ts fo r gen erating p o w e r, w h ich ca n b o o p e ra te d in d e p e n d ­
D u n c a n , P o r tla n d , M e .; V .- P . an d G e n . M g r ., I I . E . C h u b b u c k , P eoria, e n tly ir necossary. Is s u p p ly in g 167 en closed a rc ligh ts und er c it y c o n t r a c t
111.; S e c ., E . A . M a c N u t t , M o n tr e a l; T r e a s ., E d w a rd AVoodm an, P o rtla n d . an d 107 fo r c o m m e rcia l lig h tin g .
M e .; A sst. T r e a s ., AV. I I . C a rn a h a n , C h a m p a ig n .— V . 8 7 , o .8 1 4 ; V . 90, p .
E A R N I N G S .— F o r calen d ar y e a r 1912, gross, $ 1 8 9 ,0 2 0 ; n e t, $ 9 0 ,4 8 5 .
238 ; V . 94, p . 280: V . 95. p . 233; V . 9 6 , p . 1223; V . 9 7 , p . 7 3 0 , 1428, 1505,
In 1911, gross, $12 1,59 3; n e t, $ 6 1 ,5 6 7 . V . 97, p . 729.
1665; V . 9 8 , p . 1394, 1457.

(1 ) A t c h i s o n R a il w a y , L i g h t & P o w e r C o .
O R G A N I Z A T I O N .— Su ccessor In 1895 o f th o A tch is o n R y . E le c . L . Sc P .
C o . C o n tr o ls electric r a ilw a y , ligh tin g an d gas pro p e rtie s o f A tc h is o n .
In A p ril 1912, tb o rates fo r ligh tin g h a v in g been s a tisfa c to r ily adju sted
b etw een th e c it y an d th o c o m p a n y , th e p ro p o s e d b o n d e le ctio n fo r the erec­
tion o f a m u n icip a l pla n t w as re scin d e d . V . 94, p . 982.
STO C K AN D BON DS—
D a te.
Interest. O utstanding.
M a tu rity.
S t o c k , $ 1 ,5 0 0 ,0 0 0 ($ 1 0 0 ).....................................
(?)
.............
F irst m tg o $ 1 ,5 0 0 .0 0 0 .......... t f 1910
5%
$ 7 5 0 ,0 0 0 N o v
1935
R O A D .— O perates 9 .8 4 m iles o f tra ck . 23 ca rs. Sup plies c it y w ith
104 arc ligh ts and 135 in ca n d e s ce n t lam ps; also 14 arcs fo r co m m e rcia 1
ligh tin g; 2,557 natural gas m eters In u se.— V . 91, p . 1024, 1094, 1628; V . 94.
p . 982 .
(2) C a ir o R a ilw a y & L i g h t C o .— A tr o lle y r o a d .
O R G A N I Z A T I O N .— In c o r p o r a te d on O ct. 5 1908 In M a in e to tak e o v e r
th e p rop e rties o f th e C a iro E le c . & T r a c . C o . an d th e C a ir o C it y G as C o . V.
8 8 , p . 293 , 37 4 . T h e C a iro E le c . Sc T r a c . w as a c o n s o lid a tio n o f th e E g y p t
E le c tr ic C o . an d th e C a iro E le c . L ig h t Sc P o w e r C o .
STO C K AN D BON DS—
D a te. Interest. O utstanding.
M a tu rity.
S t o c k , $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )--------- A ll ow n e d b y AVestern R y s . Sc L ig h t C o .
C a iro R y & L t M $ 1 .0 0 0 ,0 0 0 g n t f 1908 5 g J -D
$77 5 ,0 0 0 D e c 1 1 9 3 8
C E & T 1st M , $ 3 0 0 ,0 0 0 , g n t f /1 9 0 3 5 g J -D
150,000 Ju n o 1 1923
($500 and $ 1 ,0 0 0 )-------------e n t f l i n t , a t C en tral T r u s t C o ., C h ic , T ru ste e .
C a iro C it y G a s C o $ 7 5 ,0 0 0 g old 1903
5 g J -D
7 5 ,0 0 0 Ju n e 1 1923
Bonds.— C . E . & T . b on d s s u b j. to ca ll o n a n y in t. d a te a ft. 10 y r s . at 105.




(9) C e n t r a l L i g h t i n g C o .
O R G A N I Z A T I O N , & C .— S to c k a u th . and o u t , $ 2 5 0 ,0 0 0 ($ 1 0 0 ); all
ow n e d b y AVestern R y s . & L ig h t C o . C o ll, trust b o n d s a u th . an d o u t ,
$25 0,00 0 g o ld ($1,000) n t f .
D a te 1902, d u o J u ly 1 1922.
I n t . (5 g
J .-J .) p a y a b lo a t P o rtla n d T r u s t C o . , P o rtla n d , M o ., tru stee.
(10) M a r s e ille s W a t e r & L i g h t C o .
O R G A N I Z A T I O N , & C .— I n c o r p . in Illin ois in 1910 as su cce sso r o f C o n s .
AVater Sc L t . C o . S to c k o u t , $52 ,0 0 0 . M a r . AV.& L t. b o n d s, ( n t f) $20 ,0 0 0
5s, du e A p ril 1924. C o n s o l. AVater & L t . b o n d s ( n t f ) , $30 ,000 5s, d u o D e c . 1925.
(11) J e f f e r s o n C i t y L i g h t , H e a t & P o w e r C o .
O R G A N I Z A T I O N , Sec.— Sup plies gas a n d e le ctr ic ity t o J e ffo rso n C it y ,
M m , an d furnish es cu rren t fo r o p e ra tio n o f th o s treot ra ilw a y. lia s
$20 0,00 0 5 % b o n d s o u tsta n d in g , c p t d u e M a y 1925.
,
25 1913 re ce iv e d perm ission fro m tho M isso u ri P . S . C o m m , to
issuo $ 2 0 0,00 0 p re f. s to c k an d $20 0 ,0 0 0 b o n d s fo r th o p u rch aso o f th o s t o c k
o f th o J efferson C it y B r id g e & T ra n sit C o . See V . 97, p . 1666.
(12) P e o p le ’ s T r a c t i o n C o . — A tro lle y r o a d .
- O n R e c - 22 1913 sh areholders v o te d to increase th o b o n d e d d o b t t o § 3 0 0 .­
000 an d to m ak e a m tg e . to secu re th e now b o n d s.
V . 9 8 , p\ 7 4 , 156. T h o
s to c k w as increased in Jan . 1914 to $ 3 0 0 ,0 0 0 .
V . 9 8 , p . 156.
M e rg er .— I t is u n d e rs to o d th a t tho G alesbu rg R y ., L t g . Sc P o w e r C o .
(see a b o v o ) w ill tak e o v e r the p r o p e r ty . V . 98, p . 155.
O R G A N I Z A T I O N .— In c o r p o r a te d in Illin ois o n M a y 23 1901.

C A R P .E N T E R S V IL L E

T o B e lv id e re — J

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Clarks

C O N N E C T IN G W I T H

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ELECTRIC RAILWAYS

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Baldmound

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M O N T G O M E R Y

may ,

1914.j

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Worth, o
WolfsR*'
Lemont
y OR

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Norm:

. /^ S T A T I O N '" .'

L IN E S

fVOL. XCVIII.

ELECTRIC RAILWAYS

30

STOCK AND BONDS— D a t e .
In ter es t.
O u ts ta n d in g .
M a tu r ity .
Stock 3300,000 (3100)..............................................
$150,000 ...................
First mortgage $150,000 gold/ 1902
5 g M-S
149,700 Mar. 1 1922
($100)___________ c*&r_ t f { I n t . at Farmers’ & Mech. Bank, Galesburg.
B o n d s . — Subt. to call after 10 years at 105.
L. A. Townsend is trustee.
$300 have been retired.
EARNINGS.— For cal. year 1912, gross, $14,143; net, $10,859.
ROAD.— Operates 1243 miles of track from Galesburg to Abingdon.
Standard gauge. 60-lb. T rail.— V. 96, p. 1425; V. 98, p. 74, 156.
(13) G a le s b u r g Ry., L t g . & P o w e r C o . — Incorp. in 111. In the interests
of the Illinois Traction Co. with preliminary capital of $50,000. Increased
Its stock to $350,000 and has arranged to take over the Galesburg Ry. &
Lt. Co. (see under Western Rys. & Lt. Co. below); the Galesburg Gas &
Elec. Lt. C o., the Knoxville Elec. Lt. & Pow. Co. and the Abingdon Lt.
Sc Power Co. See V. 98, p. 155.
(14) O s k a l o o s a L i g h t & F u e l C o .

ORGANIZATION.— Incorp. in Michigan. Com. stock out, $150,000.
Bonds auth., $200,000 ($1,000 & $500), c*tf; out., $115,000, dated 1 9 0 6 , duo
Jan. 1 1921, int. (5% g.) J. & J. at Heald-Stevens C o., Grand Rapids.
Michigan Trust C o., trustee. Red. at any int. date at 105.
(15) O m a h a & L i n c o l n R a ilw a y & L i g h t C o .

Purchased in Aug. 1913 by Illinois Traction Co.
ORGAN IZATION .— Incorp. in Nebraska in July 1913. In March 1914
filed a mortgage to the Central Trust Co. o f Illinois (auth. amount, $2,­
250,000) as below. The proceeds will be devoted largely to extending
the lines from Omaha to Lincoln. V. 98, p. 913. Stock, $750,000.
STOCK AN D BONDS— D a t e .
In ter es t.
O u ts ta n d in g .
M a tu r ity .
First intge, $2,250,000 ($1,-| 1913
5 g A-O
$125,000
Oct 1 1938
000) no sinking fund___ c*\Int. at Central Tr. Co. of 111., Chic.,Trustee.
B o n d s . — Subject to call on any interest date at 105 and interest.
ROAD.— Operates from South Omaha to Papillon, 11.5 miles. Is
building an extension from Omaha to Lincoln. In March 1914 it was
reported that 17 miles of this were in operation. V. 98, p. 913.

C H A R L E S T O N , S. C.
C H A R L E S T O N C O N S O L ID A T E D R A IL W A Y & L IG H T IN G C O .
O R G A N I Z A T I O N .— In c o r p o r a te d in S o u th C a ro lin a o n A p ril 19 1910.
Leases fo r a p eriod o f 99 years fro m June 21 1910 th e C h a rle sto n C o n s . R y .,
G a s & E le c . C o . L ea se gu ar. 6 % c n pref. an d 4 % t o J u ly 1 1911. 5 % to
Jan . 1 1913 an d 6 % th ereafter on c o m . s t o c k ; also in t. o n ou tsta n d in g
b on d s o f th e C h a r. C o n s . R y ., G as & E le c.
R ates.— A s a result o f a co m p ro m is e w ith th e c it y , ch e a p e r ga s, e lectric
lig h t a n d p ow er rates w ere p u t in t o e ffe c t N o v . 1 1912. V . 9 5 , p . 1206.
STOCK—
P a r.
A u th o rized . O utstanding. D ividends.
C o m m o n ...........................................
$50
$ 1 ,5 0 0 ,0 0 0 $ 1 ,5 0 0 ,0 0 0
(7)
P re fe rre d ....................
50
5 0 0 ,0 0 0
5 0 0 ,0 0 0
(7)
O F F I C E R S .— P r e s ., P . I I . G a d sd e n ; V . - P . , W a lto n C la rk ; V .-I* . &
G e n . M g r ., G . I I . W a r in g ; S e c ., G . W . C u rran ; T r e a s ., L ew is Lillie;
A s s t. S ec. Sc T r e a s ., C . M . B e n e d ic t.— V . 9 0 . p . 1101; V . 91, p . 21 4 , 1327:
V . 9 5 , p . 297 . 419 . 1206; V . 9 6 , p . 862.
(1) C h a r le s t o n C o n s o l i d a t e d R y ., G a s & E l e c t r ic C o .
O R G A N I Z A T I O N .— O rga n ized F e b . 21 1899 as a co n s o lid a tio n o f th e
C h a rleston C it y R y . an d C h a rleston Sc S eash ore R R . u n d e r S pecial A c t o f
S o . C a r. L egislatu re, g ran tin g perpetu al ch arter a n d gas Sc e le c, ligh t po w e rs.
In O c t . 1912 sold to Jam es S o ttile the Seash oro d iv isio n , in cl. w h a rf p r o p ­
erties, fe rr y b o a ts , th e railroad lin e from M t . P leasant t o th e Isle o f P a lm s,
w ith its e q u ip m e n t, an d th e p o w e r hou se on S ullivan Isla n d . Sale w as a u th .
b y an A c t o f th e L egislatu re a p p ro v e d F e b . 12 1913 an d fo rm a l transfer
was m a d o M a r . 15 1913. V . 9 6 , p . 86 2 . See C h a rle sto n Isle o f P alm s
T r a c t io n C o . b e lo w .
Franchises are p erp etu a l. A ls o ow ns th e c a p ita l s to c k o f th e C h arleston
G as L ig h t C o . ($6 9 8 ,1 5 0 ) an d th e C h a rle sto n -E d iso n L ig h t & P o w e r C o .
($ 1 0 0 ,0 0 0 ), and thus c o n tr o ls th e w h ole fie ld o f ligh t an d tra n sp o rta tio n
In C h a rleston .
V . 9 2 , p . 88 0 .
O n M a r c h 18 1914 sh areh olders au th o riz e d th e issue o f $ 5 0 0 ,0 0 0 n ow c o m ­
m o n s t o c k . B . 9 8 , p . 9 9 9 , 610 .
M a tu rity .
STOCK A N D BON DS—
D a te.
Interest. Outstanding.
$ 2 ,5 0 0 ,0 0 0
See te x t.
Q -J
S t o c k , c o m , $ 3 ,0 0 0 ,0 0 0 ($ 5 0 ).............
5 00 .000
See te x t.
P r e f 6 % c u m , $50 0 ,0 0 0 ($ 5 0 )_______
Q -J
738 .0 0 0 Jan 1 1923
C h a rleston C it y first m tg o l 1898
5_g J -J
($ 1 ,0 0 0 ), $85 0 ,0 0 0 g o l d c t f / T a x free. I n t . a t M e r c . T r . & S. D . C o ..B a it .
C o n s o l m t g e , g o ld , $ 2,500.-1 1899
5 g M -S
1 ,762,000 M a r 1 1999
000 , c o u p o n ($ 1 .0 0 0 ) - - * t f / I n t e r e s t a t B a ltim o re T r u s t C o . , T r u s te e .
H olders ca n also c o lle c t c o u p o n s at C a ro lin a S a v in gs B a n k an d P e o p le ’s
N a tio n a l B a n k , C h a rle s to n , if presen ted b e fo r o th e 10th o f th e m o n th .
Bonds.— O f th e co n s o lid a te d 5s, $73 8 ,0 0 0 are reserved t o retiro a like
a m ou n t o f C it y R y . firs t 5s.
D iv id en d s.— See d iv id e n d s g u aran teed u n d er lease a b o v e .
R O A D , & c .— O w ns 3 5 .6 m iles o f e lectric ro a d in C h a rle sto n . T h e c o m ­
p a n y has co n s o lid a te d its tw o po w e r s ta tio n s; b o th railw ay an d ligh t and
p ow er d iv ision s are b ein g op e r a te d fro m sam e s ta tio n s.
O F F I C E R S .— P r e s .. P h ilip I I . G ad sd en ; S e c. & T r e a s ., C lia s. J . B e n d t,
b o t h o f C h a rle s to n . O ffic e s , N o . 141 M e e tin g S t ., C h a rle sto n . V . 88,
p . 504; V . 9 0 , p . 1101, 1169; V . 9 2 , p . 5 9 3 , 880; V . 9 5 . p . 1122; V . 9S, p .
6 1 0 , 999 .
C H A R L E S T O N -I S L E O F P A L M S T R A C T I O N C O .
O R G A N I Z A T I O N .— I n c o r p . in S. C . J a n . 9 1913 w ith a u th . ca p ita l o f
$ 1 ,0 0 0 ,0 0 0 , to bu ild railroad s, steam or e le ctr ic , stre e t ra ilw a ys, & c .,
op e ra to s te a m b o a ts , an d t o tak o o v e r w h a t w as fo rm e rly th e S eashoro
d iv ision o f th e C h a rleston C o n s o l. R y ., G as & E l. C o . A ls o do e s e lectric­
ligh tin g business.
R O A D , & c .— O w ns 10 m iles fro m M t . P leasant (co n n e c tin g b y ferry w ith
C h a rleston ) t o S u lliv a n ’s Island and Isle o f Palm s, a pleasure resort on
the A tla n tic C o a s t, in c l. lan d at Isle o f P a lm s, fe rr y , p o w e r h ou se on
S u lliv a n ’ s Isla n d an d s u b -s ta tio n a t M o u n t P le a sa n t, & c. O w ns an d o p e r­
a tes 19 pass, an d 3 fre ig h t cars an d 2 fe rry b o a ts .
O F F I C E R S .— P r e s ., Jam es S o tttlc; C h ie f E n g ., W . W . F u ller; C h arles­
t o n .— V . 9 6 . p . 201 , 862 .
_

C H A R L O T T E , N. C.
C H A R L O T T E E L E C T R I C R A I L W A Y C O .— A tr o lle y r o a d .
O R G A N I Z A T I O N .— O n J a n . 1 1911 th e S ou th ern P o w e r C o . t o o k p o s­
session o f th e C h a r lo tte E le c . R y ., L t . & P o w . C o .
V . 91, p . 1511. T h e
la tte r c o m p a n y ch a n g ed Its n a m e t o th e a b o v o titlo an d the gas business was
transferred to th e C h a r lo tte G as & E le c. C o . an d th e e le ctric ligh t and p o w e r
business t o th e C h a r lo tte P o w e r C o . T h e b o n d s in the ta b le be lo w w ero
Issued b y th e C h a r lo tte E le c . R y ., L t . Sc P o w . C o ., an d th erefore c o v e r the
ra ilw a y, electric and gas p ro p e rtie s. T h e C h a r. E le c tr ic R y ., L t . Sc P o w .
C o . was a c o n s olid a tion in Ja n . 1896 o f all th e o lectric ligh tin g an d street
railw ay in terests o f C h a r lo tte . A fte rw a rd m erged th e C h a r lo tte G as L igh t
C o . S treet r a ilw a y , g a s , ele ctric ligh tin g an d p o w e r fra nchises are u n lim ited
as t o tim e. .
STOCK AN D BO N D S—
D a te.
In terest.
O utstanding.
A la tu rity.
................
$20 0,00 0 ____________
S to c k (p a r $ 5 0 ).........................................
C h a r E lec R y , L & P 1st M l 1899
5 g J-J
355 ,0 0 0 July 1 1929
$ 5 0 0 ,0 0 0 ,g ( $ l ,0 0 0 ), s f c * n t f / In t. at M e r c . T r . & D e p . C o ., B a lt., T ru ste e .
C h a r E lec R y , L Sc P r e f Sc estl 1906
5 A -O
486 ,000 A p ril 1 1936
M $ 2 ,0 0 0 ,0 0 0 g ( $ l ,0 0 0 ) c * t f /I n t . at M e r c . T r . Sc D e p . C o ., B a lt ., T ru ste e .
Bonds.— O n th e 1st M . b o n d s a sin k, fu n d is p r o v id e d , o p e r a tiv e J u ly 1
1900, o f 1 % o f b on d s o u t , to b e in vested in b o n d s draw n b y lot at 10746 and
In t., if n o t o b ta in a b le at low er figu re in o p e n m ark et; $45 ,000 h a v e been
c a n celed . O f th e ref. and e x t . m tg e . b o n d s , $ 3 8 0,00 0 are to re tire prior
liens, $ 1 ,1 1 5 ,0 0 0 for a d d itio n s an d im p ts . u n d e r ca ro fu lly g u arded re stric­
tion s. Sink, fu n d o p e r a tiv e A p ril 1907 o f 1% o f b o n d s issu ed, for p urchase
o f b on d s at 10746 and in t ., if ob ta in a b le ; o th e rw ise , such in vestm en ts as
trusteo deem s p rop er.
V . 8 8 , p . 1252. $ 1 9 ,0 0 0 h a v e been re tir e d .
R O A D .— O perates 19.31 m iles o f tra ck an d 46 cars.
E A R N I N G S .— F o r 12 m o s . en din g D e c . 31 1910 (in c l. gas bu sin ess),
gross, $29 0,79 9; n o t, $ 13 0,58 1; in t. an d sk . f d ., $4 2 ,2 1 3 ; su rplu s, $ 8 8 ,3 6 8 .
i n 1909, gross, $26 8,03 2; n e t, $12 1,02 7; in t ., $ 3 5 ,2 7 5 ; s u r .. $85 ,7 5 2 .
I N D E X . — V . 8 3 , p . 890; V . 8 8 , p . 252; V . 9 1 . p . 1511.
P IE D M O N T T R A C T IO N C O .
Is c o n tr o lle d b y S ou th ern P ow er C o . in terests an d is o n e o f the D u k e
tr a c tio n lines in N o r t h an d S o u th C a ro lin a . U p o n c o m p le tio n o f its line




a n d th e lino o f th e G re e n v ille S p a rta n b u rg Sc A n d e r s o n R y ., it is p r o p o s e d
t o m erge b o t h c o s . in to on e c o m p a n y — the P ie d m o n t & N o rth e r n R y . T h e
G re e n v ille S p a rta n b u rg & A n d e rso n d iv isio n , p r e v io u s ly in o p e r a tio n be­
tw e e n G re e n v ille & G re e n w o o d , & c ., 79 m iles, w as o p e n e d a b o u t M a r . 1
1914 fr o m G re e n v ille t o S p a rta n b u rg , 32 m iles.
V . 9 8 , p . 1461.
It w as r e p o r te d in N o v . 1913 th a t th e 3 5 ,0 0 0 ,0 0 0 c a p ita l s t o c k o f th e
Piedm ont & N orth ern Ry. w as t o b o in crea sed to $ 1 5 ,0 0 0 ,0 0 0 : this w o u ld
su g g e st th a t th e new c o m p a n y had been fo rm e d as oxp la in cil a b o v e , b u t
in M a y 1914 it w as s ta te d th a t th e pro p e rtie s h ad n o t y e t been m e rg e d .
T h e P ie d m o n t Sc N o rth e r n R y . has issued n o b o n d s.
V . 98, p . 1461O R G A N I Z A T I O N .— I n c o r p . in N o rth C a ro lin a . A u th . s t o c k , $ 1 ,5 0 0 ,
000 .
H as 6 0 -y e a r fra n ch ise in C h a rlo tte .
R O A D .— Is co n s tr u c tin g a b o u t 37 m iles o f ro a d betw een C h a r lo tte and
K in g s M o u n t a in , passing th ro u gh M o u n t H o lly , L ow ell an d G a s to n ia .
A b o u t 24 m iles c o m p le t e d , w h ich w ere p la ce d in op e ra tio n d u rin g 1912.
C o n te m p la te s b u ild in g an exten sion fro m A n d erson to A tla n ta , G a .
O F F I C E R S .— P r e s ., J . B . D u k e , N . Y . ; V .- P . , W . S. R eo, C h a r lo tte ;
T r e a s .. E . T h o m a s o n , C h a r lo tte .— V . 9 2 , p . 1500; V . 97. p . 1584; V . 9 8 .
I). 1461.
_

C H IC A G O , ILL.
A U R O R A E L G I N & C H I C A G O R R — T h ird -ra il ele ctric (see M a p on
page 2 9 ).
O R G A N I Z A T I O N .— Is a co n s o lid a tio n in A p ril 1906 o f th e A u ro ra E lg in
& C h ic a g o R ailw ay, th e E lgin A u ro r a & S ou th ern T r a c tio n C o . and the
C o o k C o u n t y Sc S ou th ern R R .
V . 8 2 , p . 279 , 69 1 , 1155. C h a rte re d in
Illinois u n d er law a p p lv in g t o steam railroad s.
Pres. L . J. W o lf, in it letter
d a te d M a y 20 1909 ( V . 8 8 , p . 161 8), stated th at sy ste m is “ in th e m ain on
p r iv a te rig h t o f w a y o r p r o te c te d b y 5 0 -y e a r fra n ch ises o r gran ts w ith o u t
lim it .”
D o e s fre ig h t and express as w ell as passenger bu siness. V . 8 3 ,
p . 49 0 .
H as e x clu siv e c o n t r a c t w ith th e M e tr o p o lita n W e s t S id o E le v a ted
to o p e ra te o v e r its track s.
S to ck h o ld e rs v o t e d O ct. 18 1910 t o p u rch ase th e ChiC. W h e a to n & W e s t­
ern I t y ., w h ich runs fro m W e st C h ic , t o G e n e v a , a b t . 10 m iles. V . 9 1 . p .5 1 7 .
STO C K A N D BON DS—
D a te.
In terest. Outst'd'g. D iv.& d u c date.
C o m m o n , $ 3 ,1 0 ,000 ( $ 1 0 0 ) - . ____
Q -J
$ 3 ,1 0 0 ,0 0 0 A p r ’ 14.M %
P re f $ 3 ,1 0 0 .0 0 0 (3 1 0 0 ) 6 % c u m ____
Q -J
3 ,1 0 0 ,0 0 0 A p r ’ l l , 146
5 g J-J
3 ,0 7 9 ,0 0 0 J u ly 1 1946
F irst and refu n d in g m o r tg a g e f 1906
$ 1 5 ,0 0 0 ,0 0 0 , g o id ($ 1 ,0 0 0 ) {ln t . at C it . S a v . Sc T r . C o ., C lo v e ., and also
See t e x t -----------------c * & r * t f {
in N . Y . T r u s te e , N o rth . T r . C o ., C h ic .
A E & C R y firs t m o r tg a g e ! 1901 5 g A -O 15
2 ,8 5 0 ,0 0 0 A p r 15 1941
$ 3 ,0 0 0 ,0 0 0 ($ 1 ,0 0 0 ), g o ld jA m e r . T r . Sc S a v . B a n k , C h ic a g o , T r u s te e .
ca n n o t b o c a lle d ............... t f (In te re st p a y a b le In C h ic a g o and N ow Y o r k .
E lgin A u ro ra Sc S outhern fir s t ! 1901
5 g J -D
2 ,0 0 0 ,0 0 0 Ju n e 1 1916
m tg e , $ 2 ,0 0 0 ,0 0 0 ( $ 1 ,0 0 0 ){ I n t . a t A m e r. T r . Sc S a v . B a n k , C h ic a g o ,
g o ld , sinking fu n d ____ c * t f l T r u s te o , an d First N a t . B k ., N . Y . C it y .
Stock.— P re f. s to c k w as 5 % c u m . until A p ril 1 1909; sin ce 6 % c u m .
Bonds.— O f th e $1 5 ,0 0 0 ,0 0 0 (o rigin a lly $ 2 5 ,0 0 0 ,0 0 0 , bu t re d u ce d in 1910)
1st Sc r e f’g b o n d s, $ 3 1 6,00 0 are in tre a s., $ 4 ,5 3 8 ,0 0 0 reserved fo r p rior liens
an d th e ba la n ce fo r im p ro v e m e n ts , exten sion s an d se lf-su p p o rtin g a cq u isi­
tio n s, u nd er rig id re strictio n s. T h e y are n o t s u b je c t t o call n ow .
See V .
8 8 . p . 1618. O n th e A u rora E lgin & C h ic . R y . a s. f. o f $50 ,000 per ann um
began on A p ril 15 1911- See V . 7 4 , p . 726 . $15 0,00 0 h a v o been r o tiro d .
O n th o E lgin A u ro ra Sc S o u th , b o n d s a sin kin g fu n d Is $17 ,000 per a n n . first
5 years an d $25 ,000 a n n . th ereafter; $ 3 5 4 ,0 0 0 h a v e been pu rch ased an d are
n ow held in sin k in g fu n d .
D ividends.— F irst d iv id e n d on p r e f.— 1 4 4 % — p aid J u ly 1906 (V . 8 2 , p .
143 6), and th o sam e a m o u n t q u a rte r ly sin ce then u p t o and in clu d in g
A p ril 1909. July 1909 d iv id e n d in crea sed t o 1 46 % and sam e a m o u n t paid
q u a r. sin ce. O n c o m m o n , first d iv id e n d — H % — O c t . 7 1907. In 1908 to
1912, in c l., 3 % y e a r ly .
In 1913, J a n .. U % ; A p ril. J 4 % ; J u ly , % % \ O c t ..
H%.
In 1914, J a n .,
A p r ., U % R E P O R T .— F o r y e a r e n d in g Ju n e 30 1913 in V . 97, p . 1580.
Y ear ending
Gross
N et (after Other Interest D ividends B alance,
June 30—
E a rn in g s.
T a x es). In co m e. Paid.
(9 % ).
Su rplus.
1 9 1 2 -1 3 ..................$ 2 ,0 1 3 ,0 3 0 $ 7 7 4 ,3 8 8 $ 1 ,8 1 4 $ 3 9 5,22 3 $ 2 7 9,00 0 $ 1 0 1,97 9
1 9 1 1 -1 2 ............... - 1 ,8 9 2 ,3 8 8 7 5 5 ,2 1 6 8 ,2 4 0
386 ,1 2 7 2 7 9 ,0 0 0
98,3 2 9
R O A D .— O perates fro m 5 th A v o . s ta tio n in C it y o f C h ic a g o , o v e r tra ck s
o f M e tr o p o lita n W e s t S ide E le v . r o a d , t o 52d A v o ., C h ic a g o ; th e n ce o n its
ow n lino to W h e a to n , w ith lines fro m W h e a to n t o E lg in , B a ta v ia , G e n e v a
an d A u ro ra ; also fro m E lg in t o C a rp e n te rsv illo , D u n d e e , S t. C h a rle s,
G e n o v a , Y o r k v ille a n d B ris to l, and a lino fro m W h e a to n th ro u gh W e s t C h i­
c a g o t o G e n o v a . T o t a l sin gle t r a c k , 166 m iles. T h ir d ra il, sta n d a rd T ,
100 lb s.; tra ck rails, 80 lbs.; in teru rb an an d c it y lines, 6 0 -9 5 -lb . T an d gird er
rails; 114 passenger cars; 2 express cars; 6 s n o w -p lo w s an d sw eepers; 5 oth er
cars; to ta l cars, 127.
O F F I C E R S .— P r e s ., L . J. W o l f, C le v e la n d ; V .- P . , M . J . M a n d o lb a u m ;
V .- P . a n d G e n . M g r ., E d w in C . F a b e r, W h e a to n , III.; S e c. a n d T r e a s .,
I f. C . L a n g , C le v e la n d ; A sst. S e c. and T r e a s ., A . B o rn .
E x e cu tiv e o ffic e s .
N e w E n gla n d B ld g ., C le v e la n d , O h io .— V . 92, p . 1563; V . 9 3 , p . 1105,
1530; V . 9 5 . p . 817 , 1201; V . 9 7 , p . 727 , 1580.

CHICAGO CITY & CONNECTING RYS.— A co lla te ra l tru st.
F o rm e d In 1910 u nd er a trust a gre e m e n t, to take o v e r th o s to c k o f th e
C h ic a g o C it y R y ., to ge th e r w ith th e secu rities o f tho C a lu m e t & S ou th
C h ic a g o R y ., th e S ou th ern S treet R a ilw a y , th o H am m on d W h itin g & E a st
C h ic a g o R y . and th e C h ic a g o & W e ste rn . T h e se properties co m p ris e a p ­
pro x im a te ly 4 58 .45 m iles o f stre e t ra ilw a y in sou th orn d ivision o f C h ic a g o
and v ic in ity . See ou tlin e o f plan in V . 90, p. 558, 625 . T h o trustees are
E . II. G a r y . A . J. E a rlin g and S. M . F e lto n .
Favorable D ecisio n .— A s to d ecision o f 111. S u p rem e C o u rt In su it o f C lar­
en ce H . V en n er, a ffirm in g th a t o f the S u p erior C o u r t o f C o o k C o u n t y ,
w h ich h eld v a lid th e agreem en t cre a tin g th o C h ic a g o C it y Sc C o n n . R y s.
c o ll, tru st, see V . 9 6 , p . 1364.
S T O C K A N D B O N D S — D a te. Interest.
Outstanding.
M a tu rity.
C o m p art certs 150,000 s h a r e s . ____
s-a
150 ,000 shs.
See te x t.
P r o f p art ce rts 250 ,0 0 0 s h a r e s - ____
s-a
250 ,0 0 0 shs. Jan 14,32.25
C o ll trust m tg e $22,000,0001 1910 5 A -O
$22 ,0 0 0 ,0 0 0
Jan 1 1927
g o ld sinking fu n d c * & r * t f / l n t . a t 1st T r .& S .B .C h ic ., T r u s or In N .Y .
P articipation C ertificates.— P referred p a rticip a tio n shares h a v e no par
va lu e b u t are en title d to preferen tial cu m . (livs. aggregatin g $ 4 .5 0 ; also,
a fter c o m . p a rtic. shares snail h a v o re ce iv e d $4 in .any year ,the rem ain ing
su rplu s, n o t e xceed in g in a n y y ear $ 1 ,0 0 0 ,0 0 0 , shall bo paid ra ta b ly , 46 to
p ro f, an d 46 t o c o m ., b u t In n o case w ill tho pref. ce rts, bo e n title d to m ore
than $7 each per ann um ; also h a v e p referen ce u p on d istrib u tio n o f trust
fu n d to th o a m o u n t o f $ 1 0 0 each an d a ccu m u la te d d ivid e n d s.
Bonds.— C o u p o n b o n d s in d e n o m . o f $ 1 ,0 0 0 ; registered b o n d s $1,000 or
m u ltiples. A sin k , fu n d p ro v id e s fo r re d e m p tio n , begin . M a rcli 1 1915 ,of
$10 5,00 0 o f b o n d s p . a ., th e y b ein g red eem , fo r th o s. f ., or as a w h olo ,at
105 an d int. In case o f purch ase o f p r o p e r ty o f tho C h ic a g o C it y R y . b y
C it y o f C h ic a g o , o r te rm in a tio n o f tru st a greem en t o f Jan . 1 1910, then
b o n d s are redeem able at par an d a ccru e d interest. Seo V . 90, p . 558, 625.
B o n d s are listed on N . Y . S to c k E x ch a n g o .
V . 94, p . 1118.
Stocks and Bonds D ep osited to Secure the Coll. T r . Bonds (J a n . 1914).
Slocks (p a r ) .
a Bonds (p a r ) .
C h ic . C it y R y ., v alu e $200 per $ 1 0 0 s h .$ 1 6 ,9 7 1 ,9 0 0 N o n o
C a lu m e t & S ou th C h ic a g o R y __________ 1 0 ,0 0 0 ,0 0 0
-----------S outhern S treet R y ____________________ *2 ,4 0 0 ,0 0 0
-------­
H a m m o n d W h itin g & E a st C h ic . R y - - *1 ,0 0 0 ,0 0 0 * 1 ,0 0 0 ,0 0 0 now 1st 5s
C h ic a g o & W e s te rn ...............................
* 7 2 ,0 0 0 _____*74,000
T o t a l .............................................
$3 0 ,4 4 3 ,9 0 0 $1,074,000
* E n tire issue.
a U n der p ro v isio n s o f th e trust m o rtg a g e these re sp e ctive issues o f b on d s
each as an en tire ty m a y b o co n v e r te d in to c a p ita l s to c k o f th o re sp e ctive
c o m p a n ie s t o an equal a m o u n t.
,
D ividends.— O n prof. p a rt. c tfs . $ 2 .2 5 p er sh. has been p aid se m l-a n ,
since Jun e 1910 to and in cl. Jan . 1914. O n c o m . p a rt. ctfs . $1 p er sh . w as
p a id se m l-a n n . fro m Jun o 1910 t o an d in cl. J u ly 1912. N o n o paid s in ce .
R E P O R T .— F o r calen d ar years; V . 9 8 , p . 452.
Bond
G en. l a x D ivs. on
Surp.
C a l . ----------------- In com e----------------Y r.
D ie s .
In t.
G ross.
Interest. E x p .
es.
Part Shs.
In c.
S
S
-S
S
$
s
s
1 9 1 3 ..2 ,2 2 8 ,0 5 0 73,7 7 6 2 ,3 0 1 ,8 2 6 1 ,0 9 9 ,4 8 8 4 6 ,7 3 9 12,419 1,1 2 5 ,0 0 0 18/180
1912. .2,36 4,1 81 7 3 .0 0 9 2 .4 3 7 ,2 5 0 1 ,1 0 0 ,0 0 0 -— 51,0 0 7 ------ 1,2 7 5 ,0 0 0 11.243
B O A R D O F D I R E C T O R S .— C h a irm a n , Ira M . C o b e ; Jam es B . F o rg a n ,
Joh n J . M itc h e ll, Sam uel Insull, Joh n A . S p o o r , B . E . S u n n y , Ila rrls o n ,
B . R ile y , E . K . B o is o t an d L . A . B u s b y .
.
O F F I C E R S .— S e c. & T r e a s ., W . W . C r a w fo r d .— V . 90. p . 53, 108. 558,
625. 848 , 1675; V . 91, p . 1629. 1710: V . 93, p . 345: V. 94, p . 34 9 , 1118:
1683, 1744; V . 9 6 . p . 419 , 1555, 1772; V . 9 8 . p . 45 2 , 610.

may,

1914.

ELECTRIC RAILWAYS

(1) C h i c a g o C i t y R a il w a y .— A n e le ctric r o a d .
U n ified O peration o f Surface L in e s .— See C h ic a g o R a ilw a y s sta te m e n t fo r
d eta ils o f u n ific a tio n . O rd in a n ce u n d e r w h ich th e lines o f this co m p a n y
a re o p e ra te d jo in t ly w it h th o se o f th e C h ic a g o R a ilw a y s C o . as a sin gle s y s­
t e m un d er th e c o n tr o l o f a Joint B o a rd o f O p e ra tio n .
O R G A N I Z A T I O N .— -In co rp o ra te d in F e b . 1859, a n d has e x te n siv e sur­
fa ce ro a d privileges in th e so u th d iv isio n o f C h ic a g o . In Jun e 1908 entered
in to a c o n tr a c t w ith th e C o m m o n w e a lth -E d iso n C o ., b y w h ich th e C h ic a g o
C it y R y . agrees t o b u y all o f its e le ctric p o w e r fro m th a t c o m p a n y until
Ju n e 1918. T h e r a ilw a y has a b a n d o n e d its p r o d u c in g pla n ts b u t retain s
its d istrib u tin g plan ts. V . 8 7 . p . 1010.
N ew O rdinances and F ran ch ises.— O n F e b . 4 1907 th o C it y C o u n c il passed
ord in a n ces p r o v id in g fo r a se ttle m e n t o f th e fra n ch ise q u e s tio n . T h e se
ord in an ces w ere a p p ro v e d a t th e c it y e le ctio n o n A p ril 2 1907 an d fo rm a lly
a c c e p te d b y th e c o m p a n y ’s b o a r d o f d ire cto rs o n A p ril 15 1907. S u it t o
set aside fra n ch ise w as dism issed In A p ril 1912. V . 9 4 , p . 1118. A n e x ­
ten d ed ou tlin e o f th ese ord in a n ce s, o n e t o th e C h ica g o C it y R a ilw a y C o .,
a n d c o v e r in g th e lin es o p e ra te d b y th a t c o m p a n y , andf th e o th e r t o th e C h i­
c a g o R y s . C o ., an d c o v e r in g th e lines o f th e fo rm e r C h ic a g o U n io n T r a c tio n
C o . (n o w th e C h ic a g o R a ilw a y s C o . ) , w as g iv e n in V . 8 4 , p . 1123. T h e valu e
o f th e ta n g ib le an d in ta n g ib le p r o p e r ty o f th e C h ic a g o C it y R y . a t d a te o f
th e ord in a n ces w as fix e d a t $ 2 1 ,0 0 0 ,0 0 0 . T h e c it y o r a n y c o m p a n y a u ­
th oriz ed b y it Is g iv e n th e rig h t o n F e b . 1 o r A u g . 1 o f a n y y e a r , o n six
m o n th s ’ n o t ic e , to p u rch ase th e en tire p r o p e r ty o f th e tw o system s, o r eith er
o f th em , a t their v a lu e a t d a te o f o rd in a n ce , p lu s “ th e c o s t o f re h abilitation
a n d extensions, in c lu d in g fa ir a llow an ces fo r co n s tr u c tio n , p r o fit and
b r o k e r a g e ” . B u t i f th e p rop erties are a cq u ire d fo r o p e ra tio n b y a pri­
v a t e c o r p o r a tio n , fo r its ow n p r o fit , th e p u rch ase p rice is to b e Increased
2 0 % — barring th e ca se o f a p r iv a te c o m p a n y w h ich m ig h t b e w illin g to
turn o v e r t o th e c it y all p r o fits a b o v e 5 % o n th e c o s t o f th e in vestm en t.
T h o c om p a n ies aro lim ited d u rin g th eir o p e ra tio n t o an Interest return
o f 5 % u p o n th e a greed va lu e p lu s th e c o s t o f re h a b ilita tio n an d e x te n ­
sion s. A ll n et p r o fits a b o v e this are t o b e d iv id e d o n th e basis o f 5 5 %
t o th e c it y a n d 4 5 % t o th o c o m p a n ie s , b u t a d e fic it in a n y y ear is t o be
m a d o g o o d o u t o f th e p r o fits o f su b se q u e n t years. A fte r A p ril 15 1910 the
com p a n ies aro requ ired to se t aside 6 % o f th e gross receip ts fo r m ain ten an ce
an d repairs an d an a d d itio n a l 8 % o f th o gross receip ts t o c o v e r renew als
an d d e p re cia tio n . W h a te v e r p o r tio n o f th o tw o fu n d s is n o t used rem ains
in th e fu n ds an d passes t o th o c it y or its licensee u p o n pu rch a se . B u t if
th e tw o fu n d s are n o t s u fficie n t fo r th e pu rposes n a m e d , th e c o m p a n ie s
are ob lig a ted to s u p p ly ad d itio n a l fu n ds.
Freo transfers are req u ired o v e r all c o n n e c tin g lin es w ith in th e c it y lim its
c o v e r e d b y th e C h ic a g o R a ilw a y s C o m p a n y , th e C h ic a g o C it y R a ilw a y
a n d th e Southern Street R a ilw a y (e x ce p t te rrito ry b o u n d e d b y T w e lfth
S tr e e t, sou th a n d m ain bran ch es o f C h ic a g o R iv e r an d L a k e M ic h ig a n ,
u n til su b w a y s are in op e r a tio n , w hen transfers w ill b e g iv e n a t all inter­
s e c t io n s In tho s u b w a y s ), p r o v id e d th e passenger has p a id a flv e -c c n t
fa re a n d is travelin g In a n y o n e general d ir e ctio n .
C e rta in exten sion s
aro p r o v id e d , and th e C h ic a g o C it y C o m p a n y agreed t o co n s tr u c t in a d ­
d itio n the eq u iv a len t o f eigh t m iles o f single tra ck a n d th e C h ic a g o R a il­
w a y s system tho eq u iv a len t o f tw elve m iies o f single tra ck . In e a ch yoar
a fter th e th ird y ea r. T h e c o m p a n ie s also a gre e , u p o n d e m a n d o f th o c it y ,
t o fu rn ish fu n d s n o t e x ceed in g $ 5 ,0 0 0 ,0 0 0 In th e a ggrega te fo r th e co n s tru c­
tion o f a cen tra l d o w n -to w n s u b w a y t o b e b u ilt an d o w n e d b y th e c it y ,
t w o -fifth s c f th o c o s t t o b e b o rn e b y th o C h ic a g o C it y R y . an d th re e -fifth s
b y th e C h c a g o R a ilw a y s . S e ctio n 25 o f C h ic a g o C it y R y . o rd in a n ce fixes
th e c a p ita l in v e s tm e n t lim ita tio n o f th e c o m p a n y as fo llo w s : " T h e c o m ­
p a n y shall n o t b e req u ired o n a c c o u n t o f a n y extensions o r su b w a ys o r on
a c c o u n t o f u n d erg rou n d tro lle y s , o r o n a c c o u n t o f a n y exten sion s o f its
street ra ilw a y s , o th e r th an tho exten sion s p r o v id e d fo r in e x h ib it 'A ', an d
In S ection 36 o f this o r d in a n ce , a n d fo u r (4) m iles o f d o u b le o r o igh t (8)
m iles o f singlo track p er an n u m , as in S e ctio n 3 h e re o f p r o v id e d , t o increase
its to ta l ca p ita l In vestm en t t o su ch an e x te n t th a t th e return thereon o v e r
an d a b o v e th e in terest ch a rg e o f 5 % th ereon b y this o rd in a n ce au th o riz e d
w ou ld b e re d u ce d t o an in a d e q u a te o r u n re a so n a b ly sm all a m o u n t .”
T h e fra n ch is e s g r a n te d b y th e o rd in a n ce s run u n til F e b . 1 1927. T h e
c it y reserves th e rig h t a t a n y tim e t o c o m m u te a sum n o t ex ce e d in g tho
c it y ’s share o f th e n et r eceip ts fo r th e p re v io u s y ear in to a r e d u ctio n o f th e
rates o f fa ro.
Calum et & South Chicago O perated.— U n d e r an o p e ra tin g a greem en t en ­
tered in to in 1908, op erates the C a lu m e t & S ou th C h ic a g o R y . an d w ill also
d ir e ct th e w ork o f its r eh a b ilita tio n .
Southern St. R y. O perated.— U n d e r o r d in a n c e w h ich w e n t in to fo r c e
A p ril 1 1909, op era tes th e S o u th ern S t. R y . a n d w ill c a r r y o n w o rk o f th e
reh a b ilita tion o f th a t r o a d .
O n J a n . 29 1912 C it y C o u n c il passed an o rd in a n ce p r o v id in g fo r th e a c­
q u is itio n b y C h ic a g o C it y R y . o f c it y lin es o f th e C h ic a g o & S ou th ern T r a c .
C o.
V . 9 4 , p . 3 4 9 , 6 2 9 . T h o la tte r w as so ld a t fo re clo su re In F e b . 1912.
T h e lines ou ts id e th e c it y w e re tak en o v e r b y th e C h ic . & In te ru rb a n R y .
in th o in terest o f th o Ila m m o n d W h itin g & E a s t C h ic a g o R y .
W ages.— See u n d er C h ic a g o R a ilw a y s .
STO CK AN D BO N DS—
D a te.
In terest. O utstanding. L a stD iv.,& c.
S ee te x t.
S to c k . $ 1 9 ,0 0 0 ,0 0 0 ($ 1 0 0 ).................... T e x t Q -M 3 0 $ 1 8 ,0 0 0 ,0 0 0
1st m tg o ($ 1 ,0 0 0 ) g . . c * & r * t f / 1907
5 g F -A
3 0 ,4 5 0 ,0 0 0 F e b 1 1 9 2 7
\First T r u s t & S a v . B k ., C h ic a g o , T ru s te e .
Bonds.— T h e re Is n o lim it to th e a m o u n t o f b o n d s th a t m a y b e issued
u n d er th e a b o v e m o r tg a g e . U n d e r th e C h ic a g o c it y o r d in a n ce , in case o f
p u rch ase b y th e c it y or its lice n se e , a n d o n ly in such ca s e , th e b o n d s m a y b e
ca lled as a w h o le , fo r p a y m e n t a t p a r an d int... o n a n y in t. d a te b e fo r e m a­
t u r it y .
V . 8 4 , p . 148 8, 1550. B o n d s aro listed o n C h ic a g o S to c k E x ch a n ge
( V . 9 8 , p . 3 8 6 ).
D I V I D E N D S .— U su a lly 1 2 % : w e re in 1893 2 4 % : 1894-1900, 1 2 % : in
1901. 1 0 H % ;i n 190 2-0 9, 9 % : in 1910, 1 6 % : in 1911, l l H % : i n 1912. 1 1 % :
in 1913, M a r ., 2'A % ', J u n o , 2 ) 3 % ; S e p t., 2 ) 4 % : D e c ., 2 X % a n d X % e x t .
In 1914, M a r ., 2 & % .
•
R O A D , & c. (in ch S ou th ern S t. R y . ) . — C o m p a n y ow n s 3 2 8 .5 4 m iles o f
single tr a c k , all n ow o p e ra te d b y e le ctr ic ity . S ystem c o v e r s th e S ou th Side
o f C h ic a g o , exten d in g fr o m the c e n tre o f th e business d is tric t so u th t o 79th
S treet an d betw een tn o S ou th B ra n ch o f th o C h ic a g o R iv e r a n d th o L a k e .
975 d o u b lo -tru ck ca rs, 522 sin g le -tru ck ca rs , m is c e l., 203: to t a l, 1 ,700.
R E P O R T .— F o r 12 m o n th s ending J a n . 31 1913. See V . 9 8 , p . 905 .
1914.
1913.
1914.
1913.
$
$
$
$
C o . ’s p r o .( 4 5 % ) 81 1 ,6 7 5
791.171
P a ss . r e c ts .,ln c l.
S o. S t. R y ..1 1 ,2 8 9 ,0 3 7 10.838,714 I n t . o n c a p — x 2 ,3 05 ,151 x 2 ,217 ,266
O th er r eceip ts
4 4 6 ,4 0 6
4 05 ,267
I n c .fr o m o p . 3 ,1 1 6 ,8 2 6 3 ,0 0 8 ,4 3 7
T o t a l r e c ts ..l 1 ,7 3 5 ,4 4 3 11,243,981
O th er in com e..
2 20 ,799
O p . e x p .,t a x .,
2 60 ,172
r e n ., in t . on
N e t in co m e 3 ,3 3 7 ,6 2 5 3 ,2 6 8 ,6 0 9
c a p . in v . and
S o . S t. R y .
1,40 9 .5 4 9
n et earnings.. 9 ,9 3 1 .7 2 1 *9 ,4 8 5 ,8 2 3 I n t . o n b d s —
1,286.102
D iv s . (1 0 % ).. 1 ,8 0 0 ,0 0 0
1,80 0 ,0 0 0
N e t earnings 1 ,8 0 3 ,7 2 2
1 ,758,158
C i t y ’s p r o p o r ­
B a L .s u r p ..
128,076
182,507
tion ( 5 5 % )..
9 9 2 ,0 4 7
9 66 ,987

31

Is m a d o p rio r t o F e b . 1 1927. W ith an a d d itio n o f 2 0 % in p r ic e , c it y m a y
a ls o p u rch ase fo r th o p u r p o s e o f tu rn in g p r o p e r ty o v e r t o o th e r p a rtie s ( if
p u rch a sed fo r C h ic a g o C it y R y . o n ly 1 2 % a d d itio n a l n e e d b e p a i d ) , b u t
th is a d d itio n a l su m n e e d n o t b o p a id w h ere th e s e o th e r p a rtie s ag re e to p a y
o v e r t o th e c it y ail o f th e p r o fits a b o v e 5 % o n th e p u rch a se p rice .
V . 86,
p . 1223. O n J a n . 31 1914 c e r tifie d v a lu e o f p r o p e r ty an d a d d itio n s th e re to
w as $ 9 ,8 2 0 ,3 6 5 .
Operating A g reem en t with Chicago City R ailw ay C o.— O n J u n e 29 1908 C h i­
c a g o C it y C o u n c il a p p r o v e d a g re e m e n t b y w h ich C h ic a g o C it y R y agrees to
o p e r a te C a lu m e t & S o u th C h ic a g o R y . C o . ’s s tre e t r a ilw a y s y s te m , a n d to
)la ce In o p e r a tio n th e z o n e s y s te m o f tra n sfe rs, as d e s c r ib e d a b o v e . T h e
a tto r c o m p a n y agrees t o p a y a c tu a l c o s t o f this o p e r a t io n , a n d jo in t co sts
are t o b o p a id b y b o th co m p a n ie s in p r o p o r tio n t o gro ss r e ce ip ts o f e a c h ,
w ith ce rta in e x c e p tio n s . I n a d d it io n . C a lu m e t & S ou th C h ic a g o R y
w ill p a y C h ic a g o C it y R y . X o f th e a ctu a l s a v in g in o p e r . e x p . resu ltin g
fro m jo in t o p e r a tio n , su ch s a v in g to b e d e te rm in e d b y a b o a rd o f engineers.
S ee V . d 7 , p . 224 .
STOCK AN D BO N DS—
D a te.
In terest. Outstanding.
M a tu rity .
$ 1 0 ,0 0 0 ,0 0 0 ............. ..
S to c k , $ 1 0 ,0 0 0 ,0 0 0 ($ 1 0 0 ).......................................
F irst m o r tg a g e r e h a b ilita tio n / 1908
5 g F -A
5 ,1 7 5 ,0 0 0 F e b 1 1 9 2 7
($ 1 ,0 0 0 ) g o ld , n o s f c * & r t f l i n t , a t F irst T r . & S a v . B k ., C h ic ., T r u s te e .
Bonds.— T h e Issue o f 1st m tg e . b o n d s is In d e te rm in a te , a m o u n t t o b e
lim ited to a m o u n t o f new w o rk d o n e o n p r o p e r ty . T h e y are s u b je c t to
c all a t a n y in t . d a t e b e fo r e J u ly 1 1912 a t 105 a n d in t .; th e r e a fte r o n ly in
c ase c it y sh all p u rch a se p r o p e r t y a t p ar a n d in t . on a n y i n t . d a te . N o s. f d .
E A R N I N G S .— F o r y e a r e n d . J a n . 31 1914 (jo in t p artn ersh ip a c c ’ t ) ,
g ro ss, $ 1 ,3 0 8 ,4 9 5 : n e t , $4 2 9 ,6 8 2 : in t . o n in v e s t ., $47 2,49 5: d e f. d u e c o .
fr o m th e n e t o f su c c e e d in g y e a r , $ 4 2 ,8 1 3 . F o r y e a r e n d . Jan . 31 1914 (in ­
d iv id u a l a c c ’ t ) , in t . o n c a p ., $4 7 2 ,4 9 5 : o th e r in c o m e , $ 5 7 ,4 2 5 : in t . on
b o n d s , $2 3 2 ,9 8 6 : su rp lu s, $ 2 9 6 ,9 3 4 .
R O A D .— O w n s a n d o p e r . 119.23 m iles o f tra ck r e a ch in g S o u th C h ic a g o ,
P u llm a n , W e s t P u llm a n , A u b u rn P a rk , B u rn sid e a n d M a n h a tta n B e a c h .
A ls o ex te n d s fro m J a c k s o n P a rk to 106th S t. a n d th e In d ia n a S ta te lin e ,
alo n g L a k e sh o ro a n d b o t h sidos o f C a lu m e t R iv e r . 7 0 , 7 5 , 83 a n d 8 5 -lb .r a ils .
O F F I C E R S .— P r e s ., L . A . B u s b y ; V . - P . , W . W . C r a w fo rd ; S e c . & T r e a s .,
« u c k . — V . 9 0 , p . 5 3 . 1044, 1483; V . 9 1 . p .
1628. 1710: V . 9 2 , p . 794 , 8 8 0 .1 0 2 6 ; V . 9 3 , p . 345 . 6 6 6 , 1599; V . 9 4 , p . 629 .
1311; V . 9 6 . p . 108 8, 142 0, 1627; V . 9 8 , p . 1070, 1243.

f

(3 ) S o u t h e r n S t r e e t R a il w a y C o . — A t r o lle y r o a d .
O R G A N !Z A T I O N .— I n c o r p o r a t o i ln Illin o is as a r e o rg a n iz a tio n o f th e
C h ic a g o G e n e ra 1 R y . , w h ich w as b id in a t fo re cls o u re sale o n S e p t. 3 0 1907
b y th e S ou thern S tre e t R a ilw a y C o . V . 8 5 . p . 863 .
v
O perating A greem en t with Chicago City R y. C o.— O n A p ril 1 1909 the
o rd in a n ce b y w h ich th e C h ic . C it y R y . o p e ra te s th e p r o p e r ty w e n t in to ef­
fe c t w h en th o C it y C o m p a n y t o o k possession and b e ga n o p e r a tin g w ith 25
new ca rs , retirin g an equ a l n u m b e r o f o ld o n e s . T h e $ 8 0 0 ,0 0 0 1st 5s o f 1904
w ere all retired a n d tru st d e e d relea sed . T h e n e w b o n d s Issued t o p r o v id e
fo r re h a b ilita tio n req u ire m e n ts a n d fo r re fu n d in g o f o ld ls ts h a v e also sin ce
be e n r e tir e d .
C h ic a g o C it y R y . o p e r a te s t h e p r o p e r ty an d th e in c o m e
th erefrom (a fte r a llo w in g 5 % retu rn o n th e in v e s tm e n t) is d iv id e d betw e en
th o c it y an d th e S o u th e rn c o m p a n y u n d e r t h e term s o f th e o r d in a n c e , as in
V . 8 8 , p . 1003, 5 5 % g o in g t o th e c it y a n d 4 5 % t o th e S o u th e rn .
STOCK—
D a te.
In terest. Outstanding.
M a tu r ity .
S to c k , $ 2 ,4 0 0 ,0 0 0 ($ 1 0 0 )..............................................
$ 2 ,4 0 0 ,0 0 0 .......................
Bonds issued u n d e r 1st m tg e . o f 1909 w e re fro m tim e t o tim e ca n c e le d
an d s to c k issu ed in e x ch a n g e . N o b o n d s now o u t .
E A R N I N G S .— I n clu d e d In s ta te m e n t o f C h ic a g o C it y R y .
R O A D .— In c lu d e d in C h ic a g o C i t y R y .
O F F I C E R S .— P r e s ., L . A . B u s b y : V .- I ’ ., W . W . C r a w fo rd : S e c. & T r e a s .;
F . D . H o ffm a n n ; A u d ., J n o . J . D u c k .— V . 9 1 . p . 1631, 1712.
(4)
H a m m o n d W h i t i n g & E a s t C h i c a g o R a il w a y C o .— A t r o lle y r o a d .
A ll secu rities aro o w n e d b y th e C h ic a g o C it y & C o n n e c tin g R y s .
O R G A N I Z A T I O N .— In c o r p o r a te d in In d ia n a In Jan . 1910 as s u ccessor
t o H a m m o n d W h it in g & E a st C h ic a g o E lectric R y . Fran ch ise expires in
1954. P o w e r is fu rn ish ed b y th e C a lu m e t & S o u th C h ic a g o R y .
STOCK —
D a te.
In terest. O utstanding. D ividends.
S to c k $ 1 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) . . ............................................
$ 1 ,0 0 0 ,0 0 0 .......................
F irst m tg o , $ 5 ,0 0 0 ,0 0 0 , g o l d / 1910
5 g F -A
1 ,0 0 0 .0 0 0 F e b 1 1930
($1 ,0 0 0 ) .......................c & r t f l i n t , a t F irst T r u s t & S a v . B a n k , C h ic .,T r u s t .
Bonds.— S u b je c t t o ca ll a t 105 a n d in t . E . K . B o is o t is also tru stee.
R O A D .— O w ns 2 8.017 m iles o f tra ck , e xte n d in g fro m S ta te line betw een
Illin ois a n d In d ia n a a t I 0 8 th S t ., C h ic a g o , t o W h itin g , E a s t C h ic a g o an d
H a m m o n d in In d ia n a , a n d ODOrates in c o n n e c tio n w ith C a lu m e t & S o u th
C h ic a g o R y . t o 6 3 d S t. a n d M a d is o n A v e ., in C h ic a g o .
18 d o u b le -tru ck
m o t o r cars; 1 sin g le -tr u c k a n d 11 se rvice cars; t o t a l, 3 0 ca rs . S tan d ard
gauge; 8 0 -lb . T ra il.
O F F I C E R S .— P ro s ., L . A . B u s b y ; V .- P ., J . L . M a ts o n ; S e c . & T r e a s ..
F . I ). H o ffm a n n ; A u d ., W . W . H ill; G e n . M g r s ., A . L . D ru m & C o '
76 W e st M o n r o e S t ., C h ic a g o .— V . 7 9 . p . 103.

CHICAGO & INTERURBAN TRACTION CO.
O R G A N I Z A T I O N .— I n c o r p . in Illin ois F o b . 14 1912 t o ta k e o v e r th e
p r o p e r ty o f th o C h ic a g o & Sou th ern T r a c . C o . (so ld a t fo re clo su re ) o u tsid e
th e c it y lim its, th e lines w ith in th e c it y h a v in g been acq u ire d b y C h ic . C it y
R y . V . 94, p . 697 . U n der th e term s o f an o rd in a n ce passed Jan . 29 1912
an op e ra tin g a g reem en t betw e o n th e C h ic . C it y R y . a n d th e C h ic . & In te r ­
u rban p ro v id e s th a t th e in teru rb an cars o f th e la tte r c o m p a n y shall run to
a d o w n to w n term in u s a t H arrison S t.
STOCK A N D BON DS—
D a le.
In terest.
Outstanding.
M a tu rity.
S to c k , $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )____________
________
$ 1 ,0 0 0 ,0 0 0 .............
F irst m tg o , g o ld ($ 1 0 0 , $ 5 0 0 ,/ 1912
5 g J-J
1,350,000 Jan 1 1932
$ 1 ,0 0 0 ), n o s f _________ c * t f l i n t , a t F irst T r . & S a v . B k ., C h ic .. T ru ste e.
Bonds.— T h e a u th . a m o u n t o f 1st M . b o n d s is n o t lim ite d . B o n d s are
s u b je c t t o call in w h o le o r In p a r t, begin n in g w ith low est n u m b e r, a t 102
o n a n y interest d a y . T h e re are also $ 1 3 9 ,0 0 0 b o n d s in treasu ry.
E A R N I N G S .— F o r y e a r e n d in g F e b . 28 1914, gross, $ 29 0,81 1; o th e r in c .$2 ,2 0 0 ; to t a l, $29 3,01 1; n e t, $15 5,59 7; in t . & taxes, $79 ,123 ; su rplu s, $ 7 6 ,­
474.
R O A D .— C on sists o f 48 m iles o f lino b e tw e e n 119th S t. an d V in cen n es
R o a d , C h ic a g o , t o K a n k a k e e , 111. Stan d ard g a u g e . 7 0 -lb . T rails.
O F F I C E R S .— Pros. & M g r ., Jo h n L . M a ts o n ; V .- P ., C h a s. R . M o o r e :
S e c ., W . W . C r a w fo rd ; T r e a s ., E d g a r H . P a n k .— V . 9 4 , p . 697; V .9 5 ,p .9 6 8 .

C H I C A G O & M I L W A U K E E E L E C T R I C R R — A tr o lle y r o a d .
Receivership and Sale.— R eceivers w ere a p p o in te d Jan . 28 1908. A t the
foreclosu re sales o n S e p t. 25 1912 th o properties w ere b id in b y J a c o b N e w ­
m an o f the re organ ization c o m m itte e a t $ 1 ,6 0 0 ,0 0 0 fo r th e W ise. D iv . and
$1 ,6 5 0 ,0 0 0 fo r th o Illin ois D iv . T h e sale o f th e la tte r, h o w e v e r, w as set
aside b y J u d ge L a n d is In th e U . S. D is t. C o u rt o n J a n . 2 1913, o n th e g r o u n d
th a t bid d in g h ad been suppressed an d th a t th e p rice o b ta in e d w as m u ch
be lo w th o true v a lu a tio n . V . 9 5 , p . 817; V . 9 6 . p . 6 2 . 135.
H e also c r iti­
* In clu d es c o n tin g e n t rese rve fu n d o f $ 6 0 ,0 0 0 t o a p p ly o n a c c o u n t o f In­ cized th e plan o f re o rga n iza tio n , sa y in g it w o u ld cre a te " a gro a t m ass o f
crease o f w ages o f train m en an d ba rn m e n fro m A u g . 1 1912 to F e b . 1 1913. securities w hich represent no in ve stm e n t w h atever b y a n y b o d y a t a n y t im e .”
x T h e “ interest on ca p ita l in v e s t m e n t," $ 2 ,2 1 7 ,2 6 6 , is th a t ce r tifie d b y V . 9 6 , p . 135. O n Jun o 6 1913 th e U . S. C ircu it C o u rt o f A p p ea ls a ffir m e d
b o a r d o f su p ervisin g en gin eers, as p r o v id e d b y th o ord in a n ce o f F e b . 11 1907. 2 th e order o f Ju d g e L andis se ttin g aside the sale o f th e Illin ois D iv .
V . 96.
O F F I C E R S .— C h a irm a n E x . C o m .. Ira M . C o b e : P r o s ., L e o n a rd A . p . 1700. O n F e b . 27 1914 Ju d g e G eiger in t h o U . S. D is t. C o u r t ordered
B u s b y ; V . - P . , I I . B . F lem in g; S e c. a n d T r e a s ., F . D . H o ffm a n ; A u d ., Joh n the re-sale o f th e W isco n s in D iv . a n d d en ied th e p e titio n o f a s to ck h o ld er
J . D u c k .— V . 9 4 . p . 3 4 9 , 629 , 8 2 6 , 9 7 8 , 1118; V . 9 5 . p . 1683, 1744: V . 9 6 , p. t o in terv en e t o b e c o m e a p a r t y t o th o suit t o p re v e n t th e re organ ization
6 2 , 101 5, 1364, 1555, 1627: V . 9 7 , p . 1732: V . 9 8 , p . 155. 3 8 6 ,9 0 5 ,9 1 1 ,1 2 4 4 . c o m m itte e fro m b e in g p erm itte d t o b id at th e n e x t sale. J u d ge L a n d is has
a n n o u n ce d th a t h e w ill sot a d a te fo r th e sale o f th e Illin o is D iv ., w h ich w ill
(2) C a lu m e t & S o u t h C h i c a g o R y .— E le c tr ic .
c o in cid e w ith th a t w h ich m a y b e n a m e d b y J u d g e G eiger fo r th e sale o f
O R G A N I Z A T I O N .— Is a co n s o lid a tio n fo rm e d in 1908 o f th e C a lu m e t th o W isco n sin D iv . V . 9 8 , p . 762.
T h o n ow re organ ization c o m m itte e (V . 9 4 , p . 206) c o m p o s e d o f represen ta­
E le ctric Street R y . a n d S o u th C h ic a g o C it y R y . in a c c o r d a n c e w ith th e
term s o f ord in a n ce passed b y th e C it y C o u n c il M a r . 30 1908. L ines tiv es o f b o th tho W iscon sin an d Illin ois D iv . bon d h o ld e rs in Jan . 1912 p r o ­
a re lo ca te d In th e sou th d iv isio n o f th e C it y o f C h ic a g o . T h e o rd in a n ce posed a plan o f re organ ization ca llin g fo r tho fo rm a tio n o f a now c o m p a n y
g ra n ts fra nchises u n til F o b . 1 1927 an d p ro v id e s th a t th e c it y is to r e c e iv e w ith $6 ,0 0 0 ,0 0 0 s t o c k , $10 ,0 0 0 ,0 0 0 1st M . 5 % bo n d s (p resent issue $ 4 ,5 0 0 ,­
5 5 % o f n e t receip ts a fte r allo w in g fo r op e ra tin g expen ses, taxes an d d e ­ 0 0 0 ), c o v e rin g en tire p r o p e r ty , $ 4 ,5 0 0 ,0 0 0 1st 4 % n o n -c u m . In com e b o n d s
p re cia tio n an d 6 % o n p rese n t v a lu e , to g e th e r w ith a m o u n ts ex p e n d e d fo r (a 2d m tg e . o n 111. D iv .) an d $ 6 ,0 0 0 ,0 0 0 2 d n o n -c u m . in co m e s (a 2 d m tg o.
D e p o sita rie s,
im p ro v e m e n ts an d exten sion s. In te rch a n g e o f transfers w ith C h ic a g o C it y on th e 16 m iles o f W ise . D iv . an d 3d m tg e . o n 111. D i v . ) .
R y . b y establish in g fo u r transfer zon es is p r o v id e d , b u t in th ree o f these C h ic a g o T it le & T r u s t C o ., C h ic a g o , a n d N a tio n a l T r j s t C o ., L t d ., T o r o n t o
zon es fre o transfers c a n n o t b o c o m p e lle d unless n e t earnings fo r p rece d in g See V . 94, p . 630 , 1249.
y ea r w ere equ a l to 5 % on th e in v e s tm e n t an d th e c o m p a n y ’s sh a re o f th e
O R G A N I Z A T I O N .— I n c o r p o r a te d un d er th e general ra ilroa d law s o f
net earnings a m ou n ts t o I X % a d d itio n a l. C it y m a y p u rch a se p r o p e r t y on Illin ois a n d W isco n s in and has th e sam e p rivilege as steam ro a d s .
T h is
F e b . 1 o r A u g . 1 o f a n y y e a r u p o n six m o n th s ’ n o t ic e fo r p re se n t v a lu e , c o m p a n y w as su cce sso r b y p u r c h a s e o n D e c . 31 1 9 0 2 o f th e C h ic a g o & M il­
w h ich Is fix e d a t $ 5 ,0 0 0 ,0 0 0 , plus a m o u n ts e x p e n d e d fo r Im p ro v e m e n ts , w au kee E le ctric Railw ay C o .
D o e s a freigh t business. F ran ch ises, e x ce p t
a d d itio n s an d e x ten sion s, b u t o n ly fo r m u n icip a l o p e r a tio n , w h ere pu rch ase fo u r , are said t o b e p erp etu a l: serves 25 cities and tow n s.




32

ELECTRIC RAILWAYS

In M a y 1913 U . S. D is t . J u d ge L a n d is m a d e an ord e r p e r m ittin g R e c e iv e r
J o h n son t o p u rch ase th e p r o p e r ty o f th e W a u k e g a n F o x R iv e r & W estern
E le c tr ic R^It. (con sistin g o f 1 m ile o f tra ck in W a u k e g a n ) fo r $ 5 6 ,0 0 0 .
In D e c . 1913 J u d g e L a n d is in stru cted R e c e iv e r Joh n so n to p a y th e s .-a .
in t. d u e in J a n u a ry o n th e $ 1 ,0 8 0 ,0 0 0 5 % Railw ay b o n d s . V . 9 7 , p . 1897.
Old S ecurities.
STOCK AN D BON DS—
D a le .
Interest.
O utstanding.
M a tu rity
S t o c k , $ 5 ,0 0 0 ,0 0 0 ................................ ..
...............
$ 5 ,0 0 0 ,0 0 0
C & M E Ry 1st M , $ 1 ,5 0 0 ,0 0 0
1899
5 g J-J
1 ,0 8 0 ,0 0 0 J u ly 1 1919
g ($ 1 ,0 0 0 each )
m a y bo I n t. a t S ta n d a rd T r u s t C o . , N .Y .,a n d C le v e ­
c a lle d a n y in terest d a y at
la n d T r u s t C o . , T r u s te e s , C le v e la n d T r u s t
105 an d in teres t__________ c
C o . an d R o y a l T r u s t C o . , C h ic a g o .
C & M E R R 1st M , $ 5 ,0 0 0 ,­
1902
5 g J -J
4 .0 0 0 .0 0 0 J u ly 1 1922
0 0 0 , g o ld ($ 1 ,0 0 0 ).............. c I n t. a t M e r ch a n ts ' L o a n & T r . C o . , C h ic a g o ,
T r u s te e , o r N a t . B k . o f C o m m e r c e , N . Y .
W iscon sin D iv is io n , 1st M ,
1905
5 g J -J
1 0 ,0 0 0 ,0 0 0 Jan 1 1925
g u a r,
g o ld ,
$ 10 ,000 ,00 0 In t. a t W e s te rn T r . & S a v . B k ., C h ic ., T r u s .,
(S 1.000)
o r U . S . M o r tg a g e & T r u s t C o . , N o w Y o r k .
R e c e iv e r ’s certifs ($ 1 ,0 0 0 )____ 1908
6 M - N 11
1,0 3 6 ,0 0 0 N o v 5 1911
T h e r e ceiv er’s c ertifica te s are a p r io r lien only t o th e $ 1 0 ,0 0 0 ,0 0 0 W is c o n ­
sin D iv is io n 5s d u e 1925.
V . 86, p. 85 6 . 1159, 1223.
E A R N I N G S .— F o r calen d ar years:
Other
Interest
Calendar
Total
Net (after
Balance,
In c o m e.
Receiver.
Y ear—
R evenues.
T a x es).
Surplus.
$7,3 9 5
1913......................... $96 5 ,6 1 9
$30 2 ,7 0 0
$64 ,4 3 0
824 5,66 5
1912........................ 9 8 2 ,5 8 8
3 2 3 .9 6 0
5,3 7 6
67,501
261 ,825
R O A D .— O perates 170 m iles o f tra ck fro m E v a n s to n (w here c o n n e c tio n
is m a d e w ith C h ic a g o ) th ro u gh W a u k e g a n , K e n o sh a an d R a cin e to M il­
w au k ee, in clu d in g exten sion to L ib o r ty v ille .
P r a c tica lly all tho road Is
b u ilt on p riv a te r ig h t-o f-w a y an d ro a d is d o u b le -tra ck e d th ro u g h o u t
R a ils . 65 a n d 8& -lb.
V . 6 7 , p. 900.
O F F I C E R S .— P r e s ., A . C . F ro st: V .- P . , G o rd o n A . R a m sa y : S e c .,
Pierre G . B ea ch ; T r e a s ., W . O . K llm a n .— V . 94, p . 67. 206 349 487 5 5 9 ’
630 , 91 0 , 1249, 1762: V . 95, p . 3 6 1 .6 7 9 , 817; V . 96. p . 6 2 . 135, 1156 1364
1700; V . 9 7 , p . 1897: V . 9 8 . p . 7 3 , 762 . 1155.
'
C H I C A G O R A I L W A Y S C O .— A n e lectric ro a d ( See M a p on page 3 3 ) .
P rop osition to U nite Surface and Elevated L in es.— See rem arks u nd er
C h ic a g o E le v a to d R y s .
U n ified O peration o f Surface L in es.— U n d er tho title o f C h ic a g o S u rface
L in es the prop erties o f th e C h ica g o R a ilw a y s C o . an d the C h ic a g o C it y
R a ilw a y C o . are n o w be in g o p e ra te d as a sin gle sy s te m u nd er th o c o n tr o l
o f a jo in t b oa rd o f op e ra tio n in a c c o r d a n c e w ith an a g reem en t b etw een tho
t w o com p a n ies a n d th o u n ifica tio n o rd in a n ce w h ich b e ca m e e ffe c tiv e
F e b . 1 1914.
W hile u n d er the term s o f this o r d in a n ce an d th e agreem en t
th e ow n ersh ip o f th e p rop erties rem ain s e n tire ly se p a ra to a n d d is tin c t, the
co m b in e d earnings are t o b o d iv id e d u p o n an agreed basis. F o r th o tw o
years en d in g Jan . 31 1916 th e C h ic a g o R y s . C o . w ill re ce ive as its sliaro
5 9 % o f th o in com e rem a in in g a fte r th o p a y m e n t o f all o p e ra tin g expenses,
in clu d in g ta xes an d m a in te n a n ce ; an d b e g in n in g w ith F e b . 1 1916, and
u n til th o e x p ira tio n o f its fra n ch ise in 1927, tho C h ic a g o R y s . C o . w ill
receiv e 6 0 % o f the s o -ca lle d ‘ ‘ resid u e r e ce ip ts . " T h e plan p ro v id e s fo r a
5 -c e n t fa re th rou g h ou t th e c it y on s u rfa ce lin es, also th ro u g a r o u tin g o f cars
fr o m on e d iv ision o f the c it y t o an o th e r. F o r “ O p e ra tin g B o a r d ,” see V. 98,
p . 3 0 3 . V . 9 6 , p . 1421; V . 9 7 . P . 1023, 1114, 1357, 1503, 1897; V . 9 8 . P . 3 0 3 .
O R G A N I Z A T I O N .— In c o r p . in Illinois in O e t. 1903 an d on Jan . 25 1908
a cq u ired at foreclosu re sale th o p r o p e r ty o f tho o ld C h ic a g o U n ion T r a c tio n ,
com p risin g th o lines o f th e N o rth an d W e s t C h ic a g o S treet R R . T h o pur­
ch ase w as m a d e under a m o d ifie d plan o f reorgan ization and re a d ju stm e n t
d ated O c t . 15 1907 an d ou tlin e d in V . 8 5 , p . 1269; seo also p . 1576 (V . 95,
p. 1402) and issued $22 ,5 5 4 bon d s t o c o v e r c o s t.
In D e c . 1912 pu rch ased 6 m iles o f th o Sub u rban R R . insido tho c it y lim its
(V . 95, p . 1402) an d issued $22,554 b o n d s t o c o v e r c o s t.
Fran ch ises.— O n F eb . 5 1907 the C it y C o u n c il passed ord in a n ce s p ro v id in g
for a settlem en t o f th o rela tion s b etw een tho c it y and tho street railw ay
co m p a n ie s .
V . 8 4 , p . 33 8 , 390. T h o fra n ch ises gran ted b y th o ordin an ces
exp ire F e b . 11 1927 an d w ere a p p ro v e d a t the p o p u la r ele ctio n held A p ril 2
1907.
O n O ct. 10 1910 supplem en tal o rd in a n ce w as passed e xpirin g F eb .
1927, c o v e r in g lines o f C h ic a g o C o n s o l. T r a c . pro p e rtie s.
V . 91, p . 1025.
In th e rem arks con cern in g the C h ic a g o C it y R y . on a precedin g page o f this
p u b lica tion w ill bo fo u n d a b rie f su m m a ry o f th o m ain term s, requirem en ts
and c o n d itio n s o f these ordin an ces. A v e r y e xten d ed ou tlin e o f the sam e
w as p rin ted in th o “ C h ro n ic lo ” o f M a y 11 1907, pages 1123, 1124 an d 1125,
to w h ich the reader is referred fo r d etailed in fo rm a tio n .
T h e ord in a n ce fo r the C h ica g o R y s . C o . pro v id e s th at the v a lu ation o f the
p rop erties acq u ired shall b o d eem ed an d con sid ered to b e $ 2 9 ,0 0 0 ,0 0 0 (th o
valuo fix ed b y a b oa rd o f expert engineers a ctin g fo r the c it y ) plus $1,7 7 9 ,8 7 5
fo r expen d itu res fro m tho d ate o f the v a lu a tio n on Jun o 30 1906 to F e b . 1
1907, m a k in g to ta l v a lu a tio n o f p rop erties as re co gn ize d b y o rd in an ce
$ 3 0 ,7 7 9 ,8 7 5 as o f F e b . 1 1907. W ith th o expen d itu res a lread y m a d e , the
v a lu a tion o f r o a d , e q u ip m e n t an d franchises in A p ril 1914 (in clu d in g tho
p roceed s t o b o d eriv ed fro m an a d d itio n a l issue o f $ 3 ,0 0 0 ,0 0 0 b o n d s then
ju s t m ade) w as c o m p u te d a t $ 8 3 ,7 3 4 ,8 7 4 .
V . 8 7 , p . 677; V . 88, p . 504;
V . 9 5 , p . 236 an d 419 .
A ll expen d itu res fo r re co n stru ctio n and extensions are b ein g m a d e u nd er
the d irect su pervision o f a b o a rd o f su pervisin g engineers h ead ed b y M r .
B ion J . A r n o ld , and th e c o m p a n y is re q u ire d , u nd er co n s e rv a tiv e restric­
tion s, t o a d v a n c e m o n e y s fo r tho co n s tru ctio n o f su b w a y s b y th e c it y .
T h e expen d itu res fo r re co n stru ctio n and extensions, in clu d in g a n y c o n tr i­
b u tion s for su b w a y s , a fte r F ob . 1 1907 are to bo add ed to th e va lu e o f the
properties recogn ized b y th o ord in a n ce , togeth er w ith 5 % o f such exp en d i­
tures fo r brok era ge. A s co m p en sation fo r its services In co n stru ctio n
th e c o m p a n y will receive an a dd ition al 15 % o f all expen d itu res fo r re co n ­
stru ction and exten sion s, exclu sive o f am ou n ts co n tr ib u te d fo r su b w a ys.
T h e c o m p a n y agreed t o low er an d re co n stru ct the tunnels u nd er the
C h ic a g o R iv e r at W a sh in g to n , L a Satlo an d Van B uren streets. T h e
ord in a n ce requires th ro u gh routin g o v e r certain lines o f th e C h ica g o
C ity R y . C o . and th o exchange o f transfers w ith that c o m p a n y . T h o lines
o f th e C h ic a g o C it y R y . C o . co v e r w hat is kn ow n as tho S ou th SIdo o f C h i ­
c a g o , and th e lines o f th e C h ica g o R y s . C o . th e N orth and W est Sides.
Right to Purchase by City.— U nder th e term s o f th o fra n ch ise, th e c o m p a n y
agreed to w a iv e all rights under previou s gran ts, and g a v e th e c it y an
o p tio n t o p urchase all o f its p ro p e rty fo r m unicipal operation at any tim e
rior to th o expiration o f tho 2 0-year fra n ch ise granted th e co m p a n y
y th e ord in a n ce. T h e prico t o b e paid b y th e c ity to b o $30 ,7 7 9 ,8 7 5 .
th o valu ation o f th e properties F eb ru ary i 1907. as a b o v o m e n tio n e d ,
plus all expend itures a fter th at d a te fo r r e co n stru ctio n , extensions and a d d i­
tion s to th e p rop erties, in clu d in g a n y am ou n ts a d va n ce d t o the c it y for
th e con stru ction o f su bw ays in th e d o w n to w n business d is trict.
In case
th e p ro p e rty shall n ot b e pu rch ased, as a b o v o s ta te d , prior to 1927, tho
expiration o f th o fra n ch ise, tho c ity co v e n a n ts that it will n o t then gran t
a fra n ch ise to any oth er co rp o ra tio n for th e op e ra tio n o f a co m p e tin g system
in th e c o m p a n y ’s territory unless such o th e r co rp o ra tio n shall purchase
th o p ro p e rty o f th o co m p a n y at said p rice . T h e c ity also has the op tion
o f requ irin g th o c o m p a n y to sell its p r o p e r ty t o a n y o th e r licensee c o r p o r a ­
tion o f th e c it y , or o f purchasing th e p ro p e r ty itself for m u n icipa l ow nersh ip
(w ith no requirem en t as to m unicipal o p e r a tio n ), at a n y tim e du rin g tho
life o f th e franchise; b u t in caso o f such p urchase b y th e c it y or a licensee,
th o price to be paid shall b o 2 0 % m o r o than th o price a b o v o m en tion ed:
b u t th e licensee shall n o t be requ ired to p a y th o a dd ition al 2 0 % if it shall
agree to p a y o v e r to th o c ity all p ro fits in excess o f 5 % on the in vestm en t
In a n y e v e n t. (1) the purch ase p rice m u st b e paid in cash and the first
m ortg a g e bond s o f th o c o m p a n y will a tta ch t o such cash as a first lien in
th e even t o f such purchase; o r (2) such pu rch ase (if m ade w ithin said 20
y e a r s ), m ust bo con su m m a te d expressly s u b je c t to the lien o f tho 1st m tge.
b on d s, b u t if m ad e at th e expiration o f said 20 years, the a m o u n t th ereof
m u st also bo paid in cash.
Com pensation to C ity.— T h e c o m p a n y is en titled to a straigh t 5-cent fare,
w ith universal transfers.
In turn, p rovision is m ad e for special c o m p e n sa ­
tion to th e C ity o f C h ic a g o , hut this com p en sa tion is p a y a b le o n ly o u t o f
the surplus earnings o f the c o m p a n y a fte r p a y in g or p r o v id in g for all o p ­
era tin g expenses, in clu d in g tho charges fo r m ain ten an ce and depreciation
prescribed in the ord in a n ce and 5 % u p on th o valuation o f the co m p a n y 's
p rop erty at w hich it m ay bo purchased b y th o c it y fo r m unicipal o p era tion ,
as a b o v e s ta ted . O f th e surplus earnings s o rem ain in g , the C ity o f C h ica g o
receives 5 5 % and the co m p a n y 4 5 % .
Control by Trustees.— T h e trust in den tu re secu rin g th e p articipation
c ertifica tes p rov id es th at until A u g. 1 1912 and t o th o full exten t thereafter
w hich m ay be perm itted b y law until all o f the co n s o lid a te d m o rtg a g e b on d s
o f th o c o m p a n y shall be fu lly paid and d isch a rg e d , th o d ire cto rs o f tho
c o m p a n y shall be elected b y M essrs. A . C . B a rtle tt, C h a u n ce y K ee p , C harles
II. H u lb u rd , A lbert A Sprague and C h arles G . D aw es o f C h ic a g o , and p r o ­
vision Is m a d e in th e trust deed securin g th e 1st m tg e . b o n d s for th o a p p o in t­
m en t o f a perm an en t fin a n ce c o m m itte e , co m p o s e d o f M essrs. IJonry A .
B ia ir, C h a u n cey K eep an d B . A . E ck h a rt o f C h ic a g o .

C




[Vol. XCVUI.

A cqu isition o f Chicago Consolidated Traction P rop erties.— O n D e c . 27 1910
J u d g e G ro sscu p co n firm e d th e sale o f th o C h ic . C o n s o l. T r a c . C o . an d its
c y 11 k 11? u eri^,.Pg com p an ies o n N o v . 30 1910 to A n d r e w C o o k e a n d th e
saJ?rcP^ntlie / ^ fct£r,
a l*rP/PPerties w ithin th e c it y lim its to th e C h ic a g o R a iln r t S in °i'n n ' f f i ' iP '
1? 5 3 , 1511). p u rsu an t t o an o r d in a n c e passed
c n n n iim J lacing v alu ation a t $ 4 ,0 2 1 ,9 8 2 ), like in te n o r, a m e n d a to r y
an d su p p lem en ta l t o o rd in a n ce o f F e b . 11 1907 ( V . 91, p . 1025. 1159)
P lan . V . 9 ° . p . 1613; V . 91, p 37. T h e iPnesoutsid e th e
yv,th e C o u n t y T r a c tio n C o . (n o w th e C h ic a g o & W es t
o1
110 c o n n e ctlon w ith th e C h ic a g o R a ilw a y s C o s .
O n N o v . 1 1910 a d e p o s it agreem en t w as en tered in to b y th e h o ld e rs o f th e
securities o f th e C h ic a g o C o n s o lid a te d T r a c tio n and its su b sid ia ries, p r o k® e* c t e n g e t h e said sceu rities for C h ic a g o R y s . C o . P u rch a se
M o n e y 4 % to 5 % b o n d s an d A d ju s tm e n t In c o m e 4 % b o n d s b o t h d a te d
m pVphl n1troanp«IvatotrlnS o s ’, 1 19? 7 ’ F o r d e s crip tio n o f b o n d s an d term s
o i exch a n g e , see V . 9 1 , p . 1384, an d c o m p a re V . 90, p . 1 6 1 3 -V 91 n 214
„
f ° r P ow er.— O n J u ly 30 1909 reach ed agreem en t w ith th e C o m .'
E d ison C o . fo r p o w e r fo r a p e rio d o f 6 years fro m F e b . 1908 V 89 d 348
W age A greem en t.— O n A u g . 31 1912 th e e m ployees o f th e C h ic a g o S treet
railw ays re je cte d th o p ro p o se d w age a greem en t (see V . 9 5 , p . 618) an d th o
m atter w as referred t o a b o a rd o f arbiters w h ich han ded d o w n its’ fin d in g s
on M a r . 29 1913, aw a rd in g th e m en an a p p ro x im a te increase o f 2 c p er h ou r
e ffe c tiv e A u g . 1 1912.
Favorable D ecisio n .— In O c t . 1912 th o U . S. C ircu it C o u rt o f A p p ea ls
a ffirm e d th e d ecision o f J u d g e K o h ls a a t. dism issing th e su it bro u g h t t o h a v e
the co m p ro m is e fra n ch ise o f 1907 a n n u lle d .
V . 9 5 , p . 1206.
Settlement o f Yerkes S u it.— I t w as re p o r te d in A p ril 1914 th a t th e c o m ­
p a n y h ad a rran ged a se ttle m e n t o f th e su it b r o u g h t b y th o Y erk es esta te
o n th e g u a r a n ty o f th e b o n d s o f th o C h ic a g o C o n s o lid a te d T r a c tio n C o . b y
th o U n ion T r a c t io n C o .
V . 9 8 , p . 1155.
S T O C K A N D B O N D S —• D a te.
In terest. O utstanding.
M a tu r ity ,
________
Seo te x t .
Seo tex t.
S to c k , $ 1 0 0 ,0 0 0 ________________ ______
F irst m o r tg a g e (see t e x t ) .
/ 1907
5 F -A
$ 5 2 ,9 5 5 ,0 0 0 F o b 1 1 9 2 7
($1,000) g o l d ---------- c & r t f { l n t . at H arris T r u s t & S a v . B k ., C h ic ., T r u s .
_
,
. ,
1 o r a t H arris, F o rb e s & C o . , N o w Y o r k .
C o n s o l m tg e , g o l d . —
— t f 1907
5%
S eo te x t. F e b 1 1 9 2 7
Bonds Covering City L in es o f Form er Chicago C onsol. T raction.
PU/r.Crh« ? lo n Sy. ^ ^ t 0 0 0 •°°i). 5 / 1? 10
4-5 J -J
$ 4 ,0 7 3 ,0 0 0 F e b 1 1 9 2 7
($500 and $ 1 ,0 0 0 )- - - - c * t f (Illin o is T r . & S a v . B a n k , C h ic ., T r u s te e .
AdAU,ntn i1SrnIn;?,2 ’5 0 0 ’00^ g?[cj ( ! R10
4 8 M ay
2 ,5 0 0 .0 0 0 F e b 1 1 9 2 7
($100& $500) (n o n -cu m )c * t f 1 C e n tra l T ru s t C o . o f 111., C h ic a g o , T ru stee.
Stock. -T h e ca p ita l s to c k o f the c o m p a n y , w h ich is ssued in th o n o m in a l
a m o u n t o f $ 1 0 0 ,0 0 0 , has been m a d e th e s u b je c t o f a trust a g re e m e n t, d a te d
A u g . 1 1907 an d ex e cu te d Ja n . 25 1908, b y an d betw een th o C h ic a g o R a il­
w a ys C o . an d M essrs A d o lp h u s C . B a rtle tt, C h a u n ce y K e e p , C h arles I I .
H u lb u rd .A lb e r t A . S prag u e an d C h arles G . D a w e s, as d e p o sita ries, and
C en tral T r u s t C o . o f N e w Y o r k as cu s to d ia n . U nder this agreem en t
th o s to c k serves as a basis fo r th e Issue o f tho participation certificates,
representin g in all 265 ,100 equal p arts. Series 1 consists o f 30 800 parts
Scries 2 o f 124,300 p arts, Series 3 o f 6 0,000 parts and Series 4 o f 50 000 parts
Series 1, 2 and 3 are e n title d , in th e ord er o f p rio rity n am ed to cu m u la tiv e
d iv id e n d s o f $8 fo r each p a r t, b e gin n in g w ith y ear ending A u g ’ 1 1908 an d in
th o d istrib u tio n o f ca p ita l to $100 fo r each said p a rt. Series 4 is entitled
to a n y rem ain ing p ro fits o r ca p ita l d is trib u te d ,
v . 8 5 , p . 1269
D iv id e n d s on p a rticip a tio n ce rtifica te s S er. 2 are lim ited t o $4 on e ach cer­
tifica te so lo n g as m o re than 5 0 % o f Series C bon d s rem ain o u tsta n d in g
and thereafter t o $5 per c e r tific a te until tho rem ain der o f Series C b on d s
h a v e been re d e e m e d . Series 2. h o w e v e r. Is en titled to u np aid a ccu m u la tion
on a c c o u n t o f its $8 per c e r tific a te (b e g in n in g w ith th o y ear en din g A u g 1
1908), b u t o n ly w hen ea rn e d , and a fte r p a y m e n t o f all accu m u la tion s o f
sin kin g fu n d and o f d iv id e n d s on Series 1.
Bonds.— F irst m tg e . b o n d s are issued o n ly to p r o v id e fu n ds fo r reh a b ili­
ta tio n , e xten sion s, & c. T h e y m a y bo redeem ed at par and a ccru ed interest
on a n y in terest d a y . T h o b on d s h a v e a first lien on th o entire p ro p e rty
right la n d franchises o f th e c o m p a n y . T h o a u th orized issue is lim ited to’
th o a ggregate o f th e am ou n ts a p p ro v e d fro m tim e to tim e b y th o b oa rd o f
su pervisin g engineers. O f th o b o n d s re p o rte d o u tsta n d in g , $ 5 0 0,00 0 are
held b y trustees as se cu rity again st a n y ju d g m e n t w h ich po ssib ly co u ld be
re co v e re d in v ariou s litigation s g o in g o n .
Seo full particu lars o f b o n d s,
p r o p e r ty , & c ., in V . 8 6 , p. 545; V . 8 8 . p . 1436. 1619; V . 90, p . 302; V . 93. p .
162. B o n d s are listed on th e N . Y . S to c k E x ch a n ge .
T h e co n s o l, m tg e . b o n d s as o f J a n . 1 1914 con sist o f th o fo llo w in g :
Series A , issu ed, $ 1 7 ,4 0 3 ,8 0 0 , o f w h ich $ 1 ,0 0 6 ,0 0 0 are in th o treasury and
can b o issued o n ly fo r acqu isition o f a d d itio n a l p ro p e rty ; Series B , $ 1 7 ,1 0 4 ,­
475 , and Series C , $ 1 ,9 2 7 ,3 3 6 . Series C b on d s h a v e sinking fu n d o f $ 25 0,­
000 per a n n u m , if earned, w hich began A u g . 1 1908, b u t c u m u la tiv e until
p a id . $ 1 ,1 9 6 ,0 0 0 Series A b o n d s h a v e been retired . See particu lars,
V . 8 6 , p . 1223: V . 93, p . 1724. O f th o rem ain ing Series B . b o n d s, $ 4 ,000 are
in treasu ry. O f th o rem ain ing Series C b o n d s, $75 ,000 are in treasu ry. $ 2 ,­
072 ,664 Series C h a v o been retired b y sin kin g fu n d and ca n ce lla tio n . B on d s
o f three series b o r e in t. a t 4 % until F e b . 1 1912; th ereafter, 5 % .
Purchase M o n ey M tg e. b o n d s bear in t. at 4 % per an n . d u rin g first 5 y r s .,
thereafter 5 % per an n . T h e y are re d . a t par and in t. on a n y in t. d a te.
A d justm ent Incom e M tg e. b on d s are red at par and in t. on a n y in t .d a t e .
In te re st is p a y a b le o n ly i f earned an d is n o t c u m u la tiv e . P a y m e n ts h a ve
been as fo llo w s : 4 % on M a y 1 1913 a n d 4 % M a v 1 1914.
In te re st o n b o th p u rch a s e -m o n e y m o r tg a g e an d a d ju s tm e n t in c o m e
m o rtg a g e s p a y a b le a t c o m p a n y 's o f fic e o r a t a g e n c y o f co m p a n y in C h ica g o
D I V I D E N D . —-A n in itial d iv id e n d o f $4 w as p aid N o v . 15 1908 on
Series 1 p a rticip a tio n ce r tific a te s . O n S e p t. 1 1909 $8 w as paid on Series l
c e r tific a te s .
N o n e to O c t . 1912. w hen $6 w as p a id . In F e b . 1913. $6:
M a y , $6; J u ly , $6; A u g ., $4. In 191 4, F e b ., $ 4 . In F e b . 1914 in itial
d iv id e n d o f $2 per share w as p a id o n Series 2.
R O A D .— C om p rises 4 8 9 .1 7 m iles o f tr a c k (in c lu d in g 128 m iles o f th o
fo rm e r C h ic a g o C o n s o lid a te d T r a c t io n lin e s ), se rv in g the d o w n to w n as well
as tho en tire n o rth and w est sid es o f th e c it y .
O ver 397 m iles o f tra ck la id
w ith g ro o v e d rails w eigh in g 129 lb s. t o th e y a r d .
E Q U I P M E N T .— O porates 1,693 d o u b le -tru ck " p a y -a s -y o u -e n te r ’ ’ cars.
R E P O R T .— T h o ann ual r o p o r t fo r ye a r en d in g Jan . 31 1914 w ill b e fou n d
in V . 9 8 . p. 1389.
Passongers ca rried y e a r e n d in g Ja n . 31 1914, re ven u e,
3 8 5 ,4 5 1 ,4 5 9 ; tra n sfe r. 2 7 3 ,4 5 6 .2 0 5 ; t o ta l, b 5 8 ,907 ,6 6 4 .
In com e A cco u n t fo r Y ears ending Jan . 31.
Cross
N et
I n t .. 5 %
Balance —— O f W hich to------ In co m e.
In co m e.
on I n t .
D ivisib le. City '5 5 % . C o .,4 5 % .
1913-14— 1 9 ,6 7 4 ,7 1 5 7 .3 0 2 ,9 1 1 3 ,9 2 8 .5 8 0 3 ,374,331 1,865,882 1,5 1 8 ,4 4 9
1 9 1 2 -1 3 ...1 8 ,0 7 6 ,7 7 7 6 ,3 4 8 ,2 7 5 3 ,7 7 8 ,4 4 9 2 ,5 6 9 ,8 2 6 1,413,404 1 ,156,422
In com e Statement (N on -P artn ersh ip A cco u n t) fo r Years ending Jan. 31.
1913.
1914.
1914.
1913.
$
,
$
S
1,121
C h ic . R y s . .4 5 % .1 ,5 1 8 ,4 4 9 1,1 5 6 ,4 2 2 M isce lla n e o u s __
5 % on in v e stin ’ 1 3 ,9 2 8 ,5 7 9 3 ,7 7 8 ,4 4 9 S k . f d . res. acct.. 2 5 0 ,0 0 0
250,000
M Is c. I n t e r e s t.. 4 3 0 ,2 1 3
2 1 4 ,2 6 8 C o r p .e x p .& ad j.. 157,297
120,574
G ross in c o m e , all
s o u r c e s _______5.8 7 7 ,2 4 1 5 .1 4 9 ,1 3 9
D educt—
T o t . Int. on b d s .4 ,4 7 2 ,4 3 6 4 ,3 0 3 ,4 8 9

T o t a l d e d u c..4,880,854 4,674,063

N o t...................

996,387 ” 475,076.

O F F I C E R S .— C h airm an o f B o a rd o| D ire cto rs and P re s., H e n ry A . B lair;
V Ice -P re s'ts, S e y m o u r M o rris an d J . E . W ilkie; G en . M g r ., W illiston Fish
S e c ., F . L . H u p p ; T r e a s ., M . B . O rd e; C o m p ., F . E . S m ith , all o f C h ic a g o .
I N D E X . — V\ 9 2 . p_. 5 9 . 2 6 0 ^ 3 2 1 .^ 1 0 2 :

V . 9 3 , ^ 1 6 2 , 229 , 796,_ 1190.

618.
1421.
1203,
C H IC A G O & W E S T T O W N S R A IL W A Y C O .
O R G A N I Z A T I O N .— In co rp . in Illin ois In 1913 as a c o n s o lid a tio n o f the
C o u n ty T r a c tio n C o . an d th o S u b u rban R R .
STOCK AN D BON DS—
D a te.
In terest.
O utstanding.
M a tu rity.
C o m m o n , $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 ).......................................
$ 1 ,0 0 0 ,0 0 0 .......................
P r e f (c u m ), $ 1 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ____
6%
1 ,000,000 .......................
B on d s. $ 7 5 0 ,0 0 0 , g o ld , r e d / 1913
6 g M -S
556 ,0 0 0
1918
a t 101................................c U f l In t. a t H arris T r . & S. B k ., C h ic a g o , T r u s te e
R O A D .— O w ns a n d op e ra te s 70 m iles o f tr a c k , sorvin g th o su bu rbs w est
o f C h ic a g o .
O F F I C E R S .— P r e s ., W illard M . M c E w e n ; S e c ., C h a s . F . P r o p s t; G e n .
M g r ., F . L . B u t k r . V . 97, p . 4 4 3 . 666.




34

E V A N ST O N R A IL W A Y C O .
. O R G A N I Z A T I O N '. — I n c o r p . S e p t . 2 0 1913 In I ll i n o i s t o t a k e o v e r t h e
lin e s in E v a n s t o n , II I., f o r m e r l y o w n e d b y t h e C o u n t y T r a c t i o n C o . ( n o w t h e
C h ic a g o & W e s t T o w n s R y .)
Franchise.— T h e c o m p a n y w a s g r a n t e d a n e w 2 0 - y e a r fr a n c h is e .
STOCK A N D BON DS—
Date.
Interest. Outstanding. iMaturity.
S t o c k , $ 5 0 0 ,0 0 0 ( $ 1 0 0 ) ...................... ..
.................
* 5 0 0 ,0 0 0 _____________
F i r s t m t g e b o n d s , g o l d ------- c * j 1 9 1 3
6 g F -A
1 0 1 ,1 0 0
1933
R e d e e m a t 1 0 3 a n d i n t ------- / I n t . a t M e r c h . L o a n & T r . C o . , C h i c . , T r u s .
Bonds.— S in k in g f u n d o f 3 % o f o u t s t a n d i n g b o n d s f r o m 1 9 1 7 .
E A R N I N G S .— F o r 6 m o n th s a n d 24 d a y s e n d in g F e b . 28 1914: G r o s s ,
§ 7 6 , 5 7 2 ; o p e r . e x p . , $ 4 7 ,9 1 9 ; t a x e s , $ 3 ,5 0 0 ; i n t . & r e n t a l s , $ 3 ,7 8 1 ; C i t y
o f E v a n s t o n ’ s c o m p e n s a t i o n , $ 6 , 0 2 0 ; s u r p lu s , $ 1 5 ,3 5 3 .
R O A D . — T h e e n t i r e s y s t e m is u n d e r r e - c o n s t r u c t i o n . L e n g t h o f s in g le
t r a c k , 9 . 7 6 m ile s .
8 5 - l b . r a il.
G a u g e 4 f t . 8 > * in .
O F F I C E R S . — P r e s . , C l e m e n t C . S m i t h . M il w a u k e e ; V i c o - P r e s ., & G e n .
M g r . , C h a r le s F . S p e e d ; S e c . , G e o r g e A l l is o n ; T r e a s . , J . J . L e w i s , E v a n s ­
ton .
C H I C A G O E L E V A T E D R A I L W A Y S . — A v o l u n t a r y a s s o c ia t i o n s im ila r
t o M a s s a c h u s e t t s E l e c t r ic C o m p a n ie s (See M a p , page 3 5 ) .
Proposition to M erge Surface and Elevated Lines and Construct Subwags.—
O n F e b . 13 1 91 3 A t t o r n e y W illia m G . B e a l s , r e p r e s e n t in g t h e B l a i r i n t e r e s t s ,
p r e s e n t e d t o t h e T r a n s p o r t a t i o n C o m m i t t e e o f t h e C h i c a g o C i t y C o u n c il a
p l a n f o r t h e m e r g e r <‘ f t h e s u r f a c e a n d e l e v a t e d lin e s a n d t h e c o n s t r u c t i o n
o f s u b w a y s s u b s t a n t i a l ly a s o u t l in e d in t h e " C h r o n i c l e ” o f M a r . 1 1 9 1 3 ,
page 651.
O n A p r i l 2 8 1 9 1 3 t h e C i t y C o u n c il a d o p t e d r e s o lu t i o n s s u s p e n d ­
in g n e g o t i a t io n s .
V . 9 6 , p . 1361.
F o llo w in g t h e b r e a k i n g o f f o f n e g o t i a t io n s f o r g e n e r a l m e r g e r o f s u r f a c e
a n d e l e v a t e d r o a d s , t h e c o m p a n y e x p r e s s e d it s w illin g n e s s ( w h e n n e c e s s a r y
r ig h t s s h o u ld b e g r a n t e d b y t h e c i t y ) t o t h r o u g h - r o u t e n o r t h a n d s o u t h e le ­
v a t e d t r a in s , u s in g t h e L o o p f o r t h a t p u r p o s o , a n d t o e s t a b lis h tr e e t r a n s fe r
s t a t io n s b e t w e e n s a id t r a in s a n d tr a in s o f M e t r o p o l i t a n a n d O a k P a r k c o m ­
p a n ie s b y O c t . 1 1 9 1 3 .
S ee V . 96, p . 1364, 1627.
O n J u ly 28 1913 C it y
C o u n c i l p a s s e d a n o r d i n a n c e p r o v i d i n g f o r t h r o u g h r o u t in g a n d a t m id n ig h t
N o v . 2 1 9 1 3 t h e p la n w e n t i n t o e f f e c t .
O n A p r . 2 7 1 9 1 4 t h e C i t y C o u n c il
p a s s e d a r e s o lu t i o n d i r e c t i n g t h e lo c a l T r a n s p o r t a t i o n C o m m i t t o c t o r e s u m o
n e g o t i a t io n s l o o k in g t o a n o p e r a t i v e m e r g e r o f t h o e l e v a t e d a n d s u r f a c o
t r a c t i o n lin e s a n d f o r t h o c o n s t r u c t i o n o f s u b w a y s t o r e lie v e t h o c o n g e s t io n
o f th e s e lin e s in t h e l o o p d i s t r i c t .
I t w a s r e p o r t e d in M a y 1 9 1 4 t h a t a s t h e p r o j e c t f o r u n i t in g u n d e r o n e
c o n t r o l t h e e l e v a t e d r a i lw a y a n d s u r f a c e r o a d s o f C h i c a g o h a d n o t b e e n c a r ­
r ie d o u t , t h e C o m m o n w e a l t h E d is o n C o . m ig h t p u r c h a s e o n o r b e f o r e
J u l y 1 1 9 1 4 f r o m t h e s y n d i c a t e w h ic h u n d e r w r o t e t h e p r e f . s h a r e s 2 0 ,0 0 0
s h a r e s o f C h i c . E l . c o m . s t k . f o r $ 6 , 0 0 0 , 0 0 0 in a c c o r d a n c e w it h t h e t e r m s
■of a n a g r e e m e n t s a i d t o h a v e b e e n e n t e r e d i n t o in 1 9 1 1 . V . 9 8 , p . 1 5 3 6 .
A s t o v a l u a t i o n s b y c i t y 's a n d c o m p a n y 's e x p e r t s , s e e V . 9 4 , p . 1 5 0 7 .
O R G A N I Z A T I O N . — O r g a n iz e d In 191 1 t o a c q u l r o s t o c k s , b o n d s a n d
O t h e r s e c u r it ie s o f t h e M e t r o p o l i t a n W e s t S id e K i e v . I t R . , N o r t h w e s t e r n
E l e v . U K . a n d t h e S o u t h S id e E l e v . R R . ($ 2 1 ,2 0 2 ,3 1 2 b e in g o f f e r e d f o r t h e
5 3 6 2 9 1 ,9 0 0 s t o c ic o f t h e s e c o m p a n i e s ) ; a l s o , i f i t s o e l e c t s , t h e s t o c k s o t t h e
U n io n C o n s o l . E l e v . R R . , C h i c a g o fc O a k P a r k E l e v Ry., C h i c a g o & O a k
P a r k E l e v . lilt, a n d C h i c a g o & E lm h u r s t R y . , w h ic h c o m p a n i e s a r e c o n ­
t r o lle d b y t h e a f o r e - m e n t i o n e d c o m p a n i e s .
T h o so roa d s op era to a b ou t
1 8 7 .5 1 m ile s o f t r a c k .
T h e p h y s ic a l p r o p e r t ie s w e r e v a l u e d a t a b o u t
$ 9 0 ,0 0 0 ,0 0 0 . e x c l u s iv e o f fr a n c h is e v a lu a t io n s ; t h e m o r t g a g e d e b t p r e c e d in g
t h e n o t e s a g g r e g a t e d $ 3 2 ,3 7 2 ,2 6 2 , l e a v i n g a n e q u i t y o f $ 5 7 ,5 0 0 ,0 0 0 .
See
p l a n . & c . . in V . 9 2 , p . 1 4 9 8 , 1 4 3 5 ; V . 9 3 . n . 1 04 .
S t o c k h o l d e r s o f t h e M e t r o p . W e s t S id e E l o v . R R . , N o r t h w e s t e r n E l e v .
R R . a n d S o u t h S id e E l e v . R R . w e r e g i v e n t h o o p t i o n o f t w o r f f e r s f o r d e ­
p o s i t in g t h e ir s t o c k s ; o n e t o r e c e iv e f u ll c a s h f o r t h e ir h o l d i n g s , a n d t h o
o t h e r t o r e c e iv e p a r t c a s h a u d p a r t s t o c k o f t h e C h i c a g o E l o v . R y s .
See
o f f e r s in V . 9 2 , p . 1 4 9 8 .
P r a c t i c a ll y a ll t h o s t o c k s h a v e b e e n t u r n e d I n , a
s m a ll r e m n a n t c r N o r t h w . L p r e f . b e in g b o u g h t in A u g . 1 9 1 3 . V . 9 7 , p . 7 2 8 .
I n J u l y 1911 t h e N a tio n a l C i t y B a n k o f f e r e d t h e $ 3 0 ,0 0 0 ,0 0 0 g o l d n o t e s
( V . 9 3 . p . 1 0 4 ). t h o p r o c e e d s o f w h ic h , t o g e t h e r w it h $ 1 6 ,0 0 0 ,0 0 0 f r o m s a le
o f p r e f. s to ck , w e re u se d t o p a y fo r s t o c k s a c q u ir e d u n d e r th e p u rch a s e
o f f e r d a t e d M a y 2 2 1 9 1 1 . t o r e t ir e $ 1 8 ,0 0 0 ,0 0 0 N o r t h w e s t e r n E l e v . 1 st 4 s
w h ic h m a t u r e d S e p t . 1 1 9 1 1 , p a y f l o a t i n g d e b t s o f a ll c o m p a n i e s a u d p r o v i d e
a m p l e w o r k in g c a p i t a l .
Transfer Suits.— O n J u n o 2 5 1 9 1 2 t h e c i t y b r o u g h t s ix s u it s in t h e M u n i c i ­
p a l C o u r t to e n fo r c e th e o r d in a n c e p a sse d b y th o C it y C o u n c il M a y 2 0 1 91 2,
a p p r o v e d b y t h e M a y o r o n M a y 21 1 9 1 2 a n d e f f e c t i v e J u n o 4 1 9 1 2 , r e q u ir in g
t h e e l e v a t e d r o a d s t o is su e t r a n s fe r s .
V . 9 4 , p . 144o: V . 9 5 , p . 110.
On
J a n . 2 4 1 91 3 J u d g e B a ld w i n in t h e C i r c u i t C o u r t m a d e p e r m a n e n t t h e t e m ­
p o r a r y i n ju n c t i o n h e g r a n t e d In J u l y 1 9 1 2 , r e s t r a in in g t h o e n f o r c e m e n t o f
s a id o r d i n a n c e .
V . 96, p. 359.
O n N o v . 2 1 9 1 3 t h o c o m p a n i e s v o l u n t a r i ly
e s t a b lis h e d fr e e t r a n s fe r s b e t w e e n a ll t h o c o m p a n i e s in t h e l o o p d i s t r i c t .
Suit against Controlled Companies.— O n J u n o 16 1 9 1 3 S t a t e A t t o r n e y
I l o y n e fil e d q u o w a r r a n t o p r o c e e d i n g s in t h o S t a t e C i r c u i t C o u r t a g a in s t
t h e M e t . W e s t S id e , S o u t h S id e a n d U n io n e l e v a t e d r a ilr o a d c o s . , c la im in g
t h a t t h e y v i o la t e d t h e ir S t a t e c h a r t e r b y is s u in g w a t e r e d s t o c k .
V . 97, p.
1772.
O n N o v . 17 1 9 1 3 J u d g e S c a n la n in t h o C i r c u i t C o u r t d is m is s e d t h o
p r o c e e d i n g s b e c a u s e o f a t e c h n i c a l d e f e c t in f a il i n g t o c h a r g e f r a u d in t h e
i s s u a n c e o f t h e a lle g e d " w a t e r e d s t o c k . ”
A n a p p e a l w a s a l lo w e d d i r e c t t o
th o S u p rem e C o u rt.
V . 97, p . 1425.
O n A p r . 2 4 1 91 4 t h o S u p r e m e C o u r t
a f f i r m e d t h e d e c i s io n o f J u d g e S c a n l o n o f t h o C i r c u i t a n d d is m is s e d t h e s u it
a g a in s t t h e e l e v a t e d r o a d s .
Wage Settlement.— A t h r e a t e n e d s t r ik e w a s s e t t le d A p r i l 17 1 91 3 b y t h e
b o a r d o f a r b i t r a t o r s , s o m e 4 , 0 0 0 m e n r e c e iv i n g I n c r e a s e s o f f r o m 2> * t o
5 cen ts an h ou r.
V . 9 6 . p . 1156.
, , , ,
Heating o f Cars.— O n N o v . 4 1 9 1 3 t h e A p p e ll a t e C o u r t h e ld t h a t t h o c i t y
c a n n o t c o m p e l t h o m a n a g e m e n t t o k e e p it s c a r s h e a t e d , t h e c i t y o r d i n a n c e
r e q u i r in g h e a t i n g o f c a r s n o t a p p l y i n g t o t h o e l e v a t e d r o a d s . V . 9 7 , n . 1 3 6 3 .
Plans for Refunding .— F o r p r o p o s e d p la n s f o r r e t ir in g t h e $ 3 0 ,0 0 0 ,0 0 0
3 -y e a r g o ld n otes d u e J u ly 1 191 4, see V . 9 8 , p . 1536.
STO C K A N D BON DS—
Dale.
Interest. Outstanding. Maturity.
C o m m o n , 2 5 0 ,0 0 0 s h a r e s ______ _______
_________
2 5 0 ,0 0 0 s h s . _____________
P r e f , 1 6 0 . 0 0 0 s h a r e s . 6 % c u m . _____
Q -M
1 6 0 ,0 0 0 s h s .
See te x t.
3 - y r g o l d n o t e s , 8 3 0 .0 0 0 .0 0 0 ? 1911
5 J -J
3 0 , 0 0 0 .0 0 0
J u l y 1 191 4
( $ 1 . 0 0 0 ) ___________________ t f l l l l i n o i s T r u s t & S a v . B a n k . C h i c . . T r u s t e e .
Slock.— C o m . a n d p r o f , s h a r e s o f t h e p a r v a l u e o f $ 1 0 0 e a c h . T h e p r e f .
s t o c k is r e d e e m a b l e a t $ 1 0 0 a n d a c c r u e d d i v i d e n d s .
Notes a r e r e d e e m a b l e o n a n y in t e r e s t d a t e o n 3 0 d a y s ’ n o t i c e a t p a r a n d
in t.
I n t . p a y a b le in N . Y . o r C h i c a g o .
T h e y a re s e cu re d b y p le d g e o f
$ 2 5 ,0 0 0 ,0 0 0 1st M . b o n d s o f N o r t h w e s t e r n E l e v . R R . a n d a ls o b y d e p o s i t
o f a ll t h e a c q u ir e u s t o c k s .
V'. 9 3 . p . 4 1 . 1 04 .
Dividends.— O n p r e f ., in it ia l d l v . — 1 J * % — p a id D e c . 1 1 9 1 1 . I n 1 9 1 2
a n d 1913, 6 % .
i n 1 9 1 4 , M a r . , 1 1j % .
„ r
E A R N I N G S . — C o m b i n e d e a r n in g s o f M e t r o p . W e s t S id e , N o r t h w e s t e r n
a n d S o u t h S id e c o m p a n i e s f o r y e a r e n d i n g J u n o 3 0 1 9 1 3 , g r o s s , $ 8 , 6 3 7 ,0 2 7 ;
n e t . $ 4 ,0 8 3 .8 2 0 ; f ix e d c h a r g e s . $ 3 ,1 6 2 ,8 0 0 ; d i v s . , $ 1 ,0 9 8 ,5 7 5 ; d e f . , $ 1 7 7 ,5 5 6 .
O F F I C E R S . — I’ r e s . o f c o n s t it u e n t c o s . , B r i t t o n I . B u d d ; S e c . , T h o s . A .
R e y n o l d s ; A s s t . S e c . , W . V . G r i f f i n : C o m p . . E d w a r d A . B r lm i.
T R U S T E E S . — H e n r y A . B l a i r , F r a n k A . V a n d e r lip a n d S a m 'l M c R o b e r t s .
E X E C U T IV E
C O M M I T T E E . — S a m u e l I n s u ll. Ira M . C o b o a n d
H e n ry A . B la ir.
G O V E R N I N G C O M M I T T E E . — S a m u e l I n s u ll. H e n r y A . B l a i r , I r a M .
C f 'b e , F . A . V a n d e r li p , S a m u e l M c R o b e r t s , E d w a r d W . H a r d e n a n d F r e d c
A . D e la n o . — V . 9 5 . p . 4 7 , 1 1 0 . 7 4 9 . 8 8 9 . 1 6 0 7 : V . 9 6 , p . 3 5 9 6 5 1 , 7 1 5 , 1 1 5 6 ,
1 29 6, 136 4, 1772; V . 9 7 , p . 7 2 8 , 1363, 1425; V . 9 8 , p . 1 53 6.
(1 ) M e t r o p o l i t a n W e s t S i d e E l e v . R y . — A n e l e c t r i c r o a d .
(See map,
page 3 5 ) .
O R G A N I Z A T I O N . — O r g a n iz e d in I llin o is J a n . 16 1 8 9 9 .
Su ccessor on
F e b . 3 1 8 9 9 (p e r p la n in V . 6 7 , p . 1 2 6 ) t o t h o Railroad C o. s o l d u n d e r f o r e ­
c lo s u r e o n J a n . 4 1 8 9 9 .
F r a n c h is e e x p ir e s A p r i l 7 1 9 4 2 .
STO CK AN D BON DS—
Date.
Interest. Outstand'g. Maturity .A c.
C o m m o n , $ 7 , 5 0 0 , 0 0 0 __________ _______
_________
$ 7 ,4 6 3 ,9 0 0
S ee te x t.
P r e f , 5 % n o n - c , $ 9 ,0 0 0 . 0 0 0
_____
Q -S
8 ,7 0 7 ,9 0 0 M a r . T 4 . I X
F ir s t m o r t g a g e , $ 1 0 ,0 0 0 . 0 0 0 ( 1 8 9 8
4 g F -A
1 0 .0 0 0 .0 0 0 A u g 1 1 93 8
( $ 1 , 0 0 0 ) , g o l d _________ c * t f ( C e n t . T r u s t C o . , N . Y . , a n d G . S h e r m a n . T r .
In t. a t C e n t. T r u s t C o . , N . Y . a n d C h ic a g o .
Ext
m o rtg a g e ,
$ 5 , 0 0 0 . 0 0 0 ! 1901
4 g J -J
« 5 , 0 0 0 ,0 0 0 J u l y 1 1938
($ 1 ,0 0 0 ), g o ld , re d a t 105 N o r th e r n
T ru st C o .,
C h ic a g o , T r u s te e ,
o n a n y in t e r e s t d a y o n 4 [ I n t e r e s t a t c o m p a n y 's o f f i c e in C h i c a g o , o r
w e e k s n o t i c e ---------------- c * t f ' ,
C e n tra l T r u s t C o ., N o w Y o r k .
a $ 5 6 7 ,0 0 0 in c lu d e d in t h is a m o u n t is h e ld b y C h i c . E l e v . R y s . c o l l , t r u s t .
T h o e x t e n s io n m o r t g a g e o f 1901 c o v e r s t h e e x t e n s io n a s a fir s t lie n ,
a ls o 6 8 c a r s , a 3 ,5 0 0 h . p . e n g in e a n d t h e n o w d o w n - t o w n t e r m in a l; t h o
b o n d s a ls o c o v e r t h o r e s t o f t h e p r o p e r t y a s a s e c o n d lie n , s u b j e c t t o t h o
$ 1 0 ,0 0 0 ,0 0 0 fir s t m t g e .
V . 7 2 . p . 1080; V . 7 5 . p . 29; V . 8 6 . p . 1160.
H a s g u a r a n t e e d $ 4 5 3 ,0 0 0 b o n d s o f U n io n C o n s o li d a t e d E l e v a t e d .
R E P O R T . — F o r v o a r s e n d in g J u n e 3 0 1 9 1 3 , 1 9 1 2 a n d 1 9 1 1 .
R e p o r t in
1 9 1 0 Is f o r y e a r e n d i n g D e c . 3 1 .




[Vol . XCVIII.

ELECTRIC RAILWAYS
1912-13.
- 5 6 ,2 8 2 ,6 4 9
- $ 2 ,8 1 4 ,1 3 2
140,319

1911-12.
5 5 ,2 9 1 ,8 3 9
$ 2 ,8 4 2 ,4 4 7
134,552

1910-11.
5 6 ,1 2 5 ,0 7 5
$ 2 ,8 8 2 ,7 1 7
135,610

1910.
5 7 ,2 2 9 .8 8 6
$ 2 ,9 3 6 ,9 9 9
132,956

- $ 2 ,954,451
O p e ra tin g e x p e n se s___ 1,426,812

$ 2 ,9 7 6 ,9 9 9
1,396,981

$3,0 1 S ,3 2 7
1 ,5 4 4 ,1 2 5

$ 3 ,0 0 9 ,9 4 5
1 ,5 5 6 ,0 1 5

- $ 1 ,5 2 7 ,6 3 9
14,279

$ 1 ,5 8 0 ,0 1 7
14,182

$ 1 ,4 7 4 ,2 0 2
8 ,5 3 /

$ 1 ,5 1 3 ,9 3 0
8 ,7 7 0

- $ 1 ,5 4 1 ,9 1 8

$ 1 ,5 9 4 ,1 9 9

$ 1 ,4 8 2 ,7 3 9

$ 1 ,5 2 2 ,7 0 0

$30 9,96 8
($3 1 1 ,5 7 9
196,924
\ 191,129
-)
616 ,2 6 5
1 6 03 ,116
. (6 % ) 5 2 3 .092 (4 X )3 7 0 ,083

$31 7,71 3
180,312
578,351
(3 )2 6 1 ,2 3 7

$32 3 ,1 8 6
180,252
576.531
(3 )2 6 1 ,2 3 7

Passengers c a r r ie d ___
Passen ger e a rn in g s___
M is c e lla n e o u s ________

T o t a l ____
D educt—
R e n t a l s ____
T a x e s , &C-.
In te r e s t____

-1

B a la n ce ------------------ d e f .$10 4,33 1 s u r .$11 8 ,2 9 2 su r .$ 1 4 5,12 6 su r.$ 1 8 1,49 4
D I V I D E N D S .— First d iv . o n p ro f, s t o c k , 2 > * % , F e b . 28 1900 (o u t
o f earnings fo r y e a r e n d in g F e b . 28 1900); then 2 % A u g . 31 1900; 1 A %
F o b . 1901; A u g . 31 1901, 2 % ; F e b . 28 1902, 1 % ; A u g . 30 1902, 1 4 * % ;
F ob . 28 1903, 1 4 * % : in 1907, M a r . 3 0 , X%\ J u n e 2 9 . ?-*% ; S e p t. 30. X%\
n on e to M a r c h 1910, w hen X % (Q .) w as p a id ; Ju n e, X%\ S e p t., X % ;
D e c ., X % .
In 1911, M a r c h , X % ; J u n o . X % : S o p t., X % .
In 1912,
M a r c h , 1 4 * % ; Ju n o. 2 % ; S e p t ., X%1 D e c ., 2 4 * % .
In 1913. M a r c h ,
1 4 1 % ; J u n e , 1 4 1 % ; S e p t., 1 4 * % : D e c ., 1 4 * % In 1914. M a r c h , 1 4 * % .
A n in itia l d iv . o f 3 -1 0 o f 1% w as p a id on c o m . s to c k D e c . 31 1912.
In
D e c . 1913 1 2 -1 0 % w as p a id .
R O A D .— F rom term inal s ta tio n a t 5th A v e . w e ste rly a b o u t 64* m iles,
w ith b r a n d ie s ; to ta l len gth o f ro a d (in c lu d in g D o u g la s P a rk bra n ch a n d
exten sion and G a rfie ld P ark b r a n c h ), 19.63 m iles. M ile s o f sin gle tr a c k ,
o w n e d , 4 3 .7 9 ; u nd er c o n t r a c t, 6 .53; to ta l o p e r a te d , 5 0 .3 m iles o f t r a c k ,
exclu sive o f 7 .1 9 m iles o f sid e tra ck s.
R ig h t o f w a y is o w n e d in fee.
E q u ip m e n t Jan . 1 1913 co n siste d o f 225 m o t o r ca rs, 161 co a ch e s an d 101
c o n tr o l-c o a c h e s an d 18 m iscella n eou s. G a u g e , 4 ft . 84* In.
O n M a r c h 11 1905 th e cars o f th e A u ro ra E lgin & C h ic a g o R y . began
o p e ra tin g o v e r this c o m p a n y 's lines to th e 5th A v e . term in al u n d or a t r a ffic
a g reem en t, th o M e t . W e s t S ide, in tu rn , secu rin g th e rig h t to th e te rritory
w est o f the 52d A v e . term in al o n th e G a rfie ld P a rk line as fa r as th e D es
Plaines R iv e r , a b o u t 3 .3 m iles o f d o u b le tr a c k .
V . 7 9 , p . 1704.
O F F I C E R S .— P res., B . 1. B u d d ; S e c. & T r e a s ., W . V . G riffin ; A u d .,
T . B . M a c R a e ; G e n . M g r ., E . C . N o o . O ffic e , 160 W e s t J a ck so n B o u l . ,
C h ic a g o .— V . 91, p . 336; V . 92, p . 396 , 4 5 6 , 1436; V . 9 3 , p . 469.
(2) N orthwestern Elevated R R . (See m ap on page 35.)
O R G A N I Z A T I O N .— 'R o a d w as fo rm a lly o o e n e d fo r busin ess on M a y 31
1900. V . 7 0 . p . 1 0 4 9 .
In S o p t. 1901 tho U n ion E lo v a te d R R . w as a cq u ir e d . T h o C h ic a g o E le ­
v a te d R y s. p r o v id e d the cash t o take up the $ 1 8 ,0 0 0 ,0 0 0 N o rth w estern
E lo v a te d 1st 4s w h ich m atu red S e p t. 1 1911.
O n A u g . 21 1911 s to ck h o ld e rs a u th . $ 2 5 ,0 0 0 ,0 0 0 1st M . 5s. N o n e o f th e
b on d s has been s o ld , b u t th e y are used as p art co lla te ra l fo r C h ic . E le v .
R y s . n o te issuo.
V . 9 3 , p . 527.
Suit.— A s to su it ch a rg in g th a t th e $ 2 5 ,0 0 0 ,0 0 0 w ore issued to th o C ld c .
E l. R y s . for $ 2 0 ,0 0 0 ,0 0 0 an d seekin g to r e c o v e r th e d iffe re n ce o f $ 5 ,0 0 0 ,0 0 0 ,
see V . 9 5 , p . 818.
STO C K A N D BON DS—
D a te.
Interest.
Outstanding.
M a tu r ity .
S to c k , $ 5 ,0 0 0 ,0 0 0 .....................................
...............
$ 4 ,9 4 7 ,1 0 0 .......................
P re f s t k , 5 % n -c , $ 2 5 ,0 0 0 ,0 0 0 .............
M -S
4 ,9 4 4 ,4 0 0 M a r '1 2 ,2 %
__
See te x t
30 years
First
m o rtg a g e ,
$ 2 5 ,0 0 0 ,-? 1911
5%
0 0 0 .................................. t f/I ll. “T r u s t &
‘ S a v . B a n k , C h ic a g o , T r u s te e .
6%
.8 0 ,0 0 0
See te x t.
E q u ip m en t; n o t e s ________ tf
N o tes.— '"Equipm ent n o te s p a y a b le in in stallm en ts; In 1913, $ 30 ,000 ; in
1914 to 1918. $ 1 6 ,0 0 0 a n n u a lly .
, J
R E P O R T .— F or yoars e n d in g Ju n o 30; P a ss, ca rried In 1912-13, 4 4 ,6 8 5 ,­
582, agst. 4 4 ,5 7 7 ,8 3 5 in 1 9 1 1 -1 2 :4 4 ,4 7 1 ,5 6 6 in 1 9 1 0 -1 1 ,4 2 ,8 1 5 ,1 3 2 in 1909­
10 an d 10,955,795 in 1908-09.
.
T,
June 3 0 .
Gross
N et
Other
In terest,
D iv i- Balance,
Y ea r—•
In com e.
E a rn in g s. In co m e. T a xes, & c . dends. S u rp lu s.
1912-13..........$ 2 ,5 8 0 ,3 3 4 $ 1 ,2 3 5 ,6 1 6 $6 0 6 ,2 4 8 $ 1 ,8 4 0 ,9 9 1 - - - - - - „ $873
1911- 12_____ 2 ,5 3 9 ,7 0 6
1,225,312 637 .5 0 9
1 ,7 4 5 ,0 6 5 $ 9 8 ,8 8 8 $ 18 ,867
D ividends.— A n initial d iv . o f 1% w as p aid o n p re f. O c t . 18 1909; in 1910,
J a n ., 1 % ; A p ril, 1%,; J u ly . 1 % ; O c t ., 1 % ; in 1911, J a n ., 1 % ; A p ril, 1 % ;
n on e thereafter t o M a r c h 1912. w hen 2 % w as p a id . N o n e sin ce.
R O A D .— M ile s o f sin glo track: O w n e d , m ain lin e, 3 8 .0 7 m . an d s id e ­
track , 5 .7 2 m .; to ta l o w n e d , 4 3 .7 9 m .
R ig h t o f w a y is all o w n e d In fee
e x ce p t a t street crossin gs.
U nder an o p e ra tin g a g reem en t w ith th e C h ic a g o M ilw a u k e e & S t. Paul
R a ilw a y C o . m a d e in 1907, this c o m p a n y ’s s e rv ice w as e xten d ed M a y 16
1908 to E v a n sto n o v e r tho E v a n sto n D iv isio n o f th o fo rm e r r o a d , w h ich
has been ele ctrifie d . E x te n sio n to W ilm e tte o p e n e d A p ril 1912. A ll tra ck
o p e r . (in cl. lo o p ), 60.4 3 m iles. 348 ca rs , 80 -Ib . T rails.
O F F I C E R S .— P r e s ., B ritto n I . B u d d ; S ec. & T r e a s ., W . V . G riffin ; G en •
M g r ., E. C . N o o : A u d ., T . B . M a c R a e . V . 9 0 , p . 1171, 1240: V . 91. p . 791 •
8 6 6 , 1768; V . 92, p . 262 , 1436, 1701; V . 93, p . 108, 527 , 66 7 , 796, 1 0 1 8 ­
V . 9 5 , p . 818 .
(a ) U n io n E le v a t e d R a il r o a d .
Is used b y all th o C h ic a g o e leva ted ro a d s , an d rece ivo s y y c. for each p a s­
senger c a rrie d , b esid es a ll oxpenses fo r o p e r a tin g , repairs an d ta xes. F ra n ­
chise expires in 1945.
BON DS—
D a te.
Interest. Outstanding.
M a tu rity.
I s t M .$ 5 ,0 0 0 ,0 0 0 ,g O T l,0 0 0 )c p t 1S95
5 g A -O
$ 4 ,4 7 2 ,0 0 0 O ct 1 1945
Interest a t C h a se N a t. B a n k . N . Y . , a n d 111. T r u s t & S a v . B a nk, C h ic a g o .
Bonds.— O f th o $5 ,0 0 0 ,0 0 0 b o n d s Issued, $52 8 ,0 0 0 aro held b y N o r th w . E l.
R O A D .— 'T h e lo o p is 2.0 2 m ilos in le n g th , d o u b lo -tra ck e d (8 0 -lb . rails)
and runs on L a k e S t. to W abash A v e ., to V an B u ren S t ., to F ifth A v e ., to
Lako S t.
R o a d o p e n e d O c t . 10 1897. T r a in s o f th e C h ic a g o & O ak P ark ,
M e tro p o lita n W e s t S id e , N o rth w e ste rn E le v a te d R R . and South Side
o p e ra te o v e r th e lo o p . N o rth w e ste rn E lo v . also o w n s .15 m ile o f d o u b le
track fro m c o n n e c tio n w ith lo o p a t Van B u ren & S ta te streets to c o n n e ctio n
w ith S o u th S id e E I. R R ., w hich is leased to th e la tte r .
V . 9 7 , p . 522.
(3)
S o u t h S id e E le v. R R . — ( " A l l e y E le v a t e d ” ) .— A n ele ctric elova ted
ro a d .
(See m ap page 3 5 .)
O R G A N I Z A T I O N .— S uccessor Ja n u a ry 1897 to C h ic a g o & S ou th S id o
R . T . R R . (fo re clo se d p er p lan V . 6 3 , p . 1158). J u ly 31 1000 th e A p peU a te
C o u rt sustained th e v a lid ity o f th e fo re clo su re (V . 71, i>. 236) , and on F e b .
21 1902 th at d ecision w as c o n cu rre a in b y th o S ta te S u p rem o ( o u r t.
V. 74.
p . 477- F ram h ise expires M a r c h 26 1938. L eases th e C h ic a g o J u n ction
R R .. w hich seo b e lo w .
„
,,
,
STO C K A N D BO N DS—
D ate.
In terest. Outstanding.
M a tu rity.
Q -M
$ 1 0 ,2 3 1 ,4 0 0 M a r '1 4 , 1 4
S to c k , $ 1 0 ,2 3 1 ,4 0 0 ................................
First m o rtg a g e , $S ,000.000,1 1904
44* g J-J
8 ,0 0 0 ,0 0 0 J u ly 1 1924
g o ld ($ 1 ,0 0 0 )................. c * t f ( I n t . a t 111. T r . & S a v . B a n k , C h ic ., 1’ rusteo.
Bonds.— A ro s u b je c t to call a t 105 an d in terest.
D ividends.— First d iv id e n d o f 1 % (o u t o f earnings fo r fo u r m on tn s ending
A p ril 30 1899) w as paid M a y 1 1899; then S e p t. 1 , 1 % ; D e c . 3 0 . 1 % .
In
1 9 0 0 .3 % .
In 1901. 3 4 * % .
In 1 9 0 2 to 1907. in clu s iv e . 4 % y e a r ly .
In
'0 8 , M a r .. X % ; n o n e until Ju n e '1 0 . w hen 4 * % w as p aid; S e p t ., 4 * % ; D o c .,
4* % . In 1911. M a r c h , •?•*%: Ju n e, 4 * % : J u ly , extra d iv . o f $5 .9 0 .
(V . 9 3 .
p. 164 ). In 1912, M a r c h , 1 4 * % ; J u n e . 2 4 * % : S e p t., 1 4 * % : D e c .. 1 4 * % .
In 1913, M a r ., 1 4 * % : Ju n o. I i * % : S e n t.. i 4 * % .
In D e c . rate w as in­
creased and 1 4 * % p a id .
In 1914 M a r ., 1 4 * % R E P O R T .— F o r years en d in g Ju n e 3 0 .
P assengers carried in 191 2-1 3,
4 7 ,6 3 5 ,6 2 0 . again st 4 7 ,0 9 5 .4 8 9 in 1911-12.
June 3 0 .
Gross
N et
Other
Interest,
D id Balance,
Y ea r—
In co m e.
E a rn in g s. Incom e. T a x es ,A c . dends. Sur. o r D e f.
1 91 2- 13..........$ 2 ,4 7 0 ,6 6 4 $ 1 ,3 4 8 ,4 9 6 $ 1 1.019 $ 8 5 8,16 0 $57 5,48 2 d e f .$ 7 4 ,0 9 8
191 1-1 2_____ 2 ,4 4 3 .5 8 7
1 ,338,018 20,432 8 4 0 ,3 4 0 4 2 2 ,0 2 0 s u r .9 6 ,090
R O A D .— O w ns e lo v a te d road in o p e ra tio n In C h ic a g o u p on a pu rch ased
r ig h t-o f-w a y fro m C on gress S t. to J a ck so n P ark an d to E n g le w o o d . E lec­
tr icity w as in tro d u ce d as m o tlv o p o w e r late in A pril 1898. O perates 370
m o to r, 30 trail an d 15 m lsc. ca rs. O n 16.24 m iles o f s tru ctu re has a total
o f 36.5 0 m iles o f sin glo track m ain line, in cl. 6.22 m . leased. A lso has
10.56 m iles o f sid o -tra ck , m akin g to ta l track 4 7 .0 6 m ilos.
O F F I C E R S .— P res., B ritto n I. B u d d ; S e c. & T r e a s ., W . V . G riffin
A n d ., T . B. M a c R a e ; G e n . M g r ., E . C . N o o . O ffic e , 1001 R o y a l In s u r .
B ld g ., C h ic a g o .— V . 8 8 , p . 296, 371, V . 90, p . 304, 367, 373 , 978, 1 4 2 6 ;
V . 9 2 , p . 264 , 320, 597. 1437; V . 93. p . 164. 528 .
(a) C h i c a g o J u n c t i o n R R . — (See M a p , page 3 5 ) .
O R G A N I Z A T I O N .— O rganized in the in terest o f the S o u th Sklo E lo v a te d
R R . to bu ild linos to c o n n e c t th a t c o m p a n y ’s track w ith th e S to ck Y a rd s .
O n ly a nom in al a m o u n t o f s t o c k has been issued ($ 5 0 ,0 0 0 ), w h ich is held In

ELECTRIC RAILWAYS

X* LINDEN JWeJ lWJLME^TEx
■j *c\
j\TERWI^ALs

^ C H I C A G O ELEVATED RAILW AYS
central ave.

NOYES ST.
' FOSTER ST.

4 -1

SYSTEM

*?HURCH ST.
)Cewfst/: r«st.

CALVARY STA.

Calvati Cemetery

HOWARD AVE.
CITY LIMITS

BRYAN AVE

HAYES'AVE;

DEVON AVE.
CITY LIMITS

GRANVILLE AVEt>

N. LCGEWATER STA.

EDGEWATER POWER HOUSE
CITY LIMITS

BRYN MAI

CGEWATER STA.

Bohemian
'Cemetery
argyle avetA;

| LAWRENCE AVE,

NORTHW
ESTERN
IRVING PARK BOWL.

I bUEN^AVE.
°< _ ^ r\'celVno\av{

=lRVINGpBA

"x+

ADDISON
E.ECUL.
.1

S.HEmDAN
-ADDISON ST.

xv7 c?cuest7

JL=BEl;MOHT-AVE^

.RIGhTWOOO AVfc$

TJALERT.ON.AyE.

GRAND

IWEBSTERvAVE.
►
rCENTERn
w’ill w

LaRMIT.AGE_A.VE..O—L
tj-

6

JfP8.fi

NORTJjJVV.E;

SCHILl
.DIVISION-SI
_CHICAGO_AVE.

CHICAGO
MADISON ST.

f # 'l \
pi

XHLQAGj

>CHICAGO!'.AVE.

L..RASD A'

ELATED

RY.ILAKE STo
MADISON.

Ji.HARRlSOr. ST.
12th STj ___
CITY LIMITS

1=31STi3SjJ4^Ti

'SOUTHside

EXCHANGE^Vt

43RO^ST.< it

44TH ST.ti f .

E.

CHICAQO &. JOLIET




I NCETONi

SCUTHSIDE

SOUTHSIDE
lOaAu’ootf
Cemetery

ELECTRIC RAILWAYS

36

tru st fo r th e S o u th S ide E le v a te d in ca se th a t c o m p a n y s h o u ld a t a n y tim e
w ish t o a b s o r b i t .
Is leased t o th e S o u th Side E le v a te d fo r 50 y e a rs (w ith
rig h t t o p u rch a se a t c o s t w ith in 2 0 y e a r s ), ren tal be in g in te re st o n b o n d s ,
taxes, & c. Fran ch ises are w ith o u t lim it.
STOCK A N D BO N DS—
D a te . In terest.
Outstanding.
M a tu rity .
S t o c k _________________________________
__________
See te x t.
1st m t g e . $ 2 ,3 2 7 ,0 0 0 , g o ld ! 1905 4 g M -S
$ 2 ,3 2 7 ,0 0 0 M c h . 1 1945
f $ l ,0 0 0 ) , g u a r p & i ____ c * (F lr s t jT r u s t & S a v . B a n k , C h ic a g o , T r u s te e .
B on ds.— A r e s u b je c t t o ca ll a t 105 a n d in t . i n e v e n t or c o n s o lid a tio n w ith
S o u th S ide E le v ., th is issu e o f b o n d s is t o b e re tire d .
V .8 0 ,p .8 7 1 . B on ds
are g u a r ., p . & i ., b y C h ic . J u n e . R y s . & U n . S tk . Y d s . C o . See V . 8 2 , p . 568.
R O A D .— C on sists o f an e le v a te d r o a d (fr o m ju n c t io n w ith S o u th Side
“ L ” a t 40 th S treet) t o th e S to c k Y a r d s , a n d a lo o p a r o u n d th e s a m e , 3 .7 5
m iles. W a s c o m p le te d in M a y 1908.
O F F I C E R S .— P r e s ., J o h n A . S p o o r ; V .- P . & S e c ., H . E . P o r o n t o ; T r e a s ..
R . B . T h o m s o n ; A s s t . T r e a s . & S e c ., S . A . B ra ck e n ; A u d ., O . O . C h a c e .—
V . 8 7 . p. 346 .
_______

CHICAGO & OAK PARK ELEVATED R R .— (See m ap page 3 5 .)
R eceivership.— O n N o v . 13 1911 J u d g e K o h ls a a t a p p o in t e d Sam uel
In s u ll rec e iv e r fo r th e Railroad. V . 9 3 , p . 138 6. O n D e c . 29 1911 re ­
c e iv e r w as a u th o riz e d t o issue $ 2 , 0 0 0 ,0 0 0 r e c e iv e r ’s ce r tific a te s fo r im p r o v e ­
m e n ts .
V . 9 3 , p . 1785. In J a n . 1912 F ra n cis V . D o b b in s o f R a h w a y ,
N . J . , w as a p p o in te d r e ce iv e r fo r th e R ailw ay C o . V . 9 4 , p . 123.
F oreclosure.— J u d g e K o h ls a a t in th e U . S . D is tr ic t C o u rt a t C h ic a g o , on
J u ly 17 1913, or d e r e d th e fo re clo s u re sale o f th e ra ilro a d . T h e a m o u n t
fo u n d t o b e d u e is $ 5 ,0 8 0 ,9 8 4 . U p t o M a y 1 1914 r o a d h a d n o t been s o ld .
Sale o f S ecurities.— O n Ju n e 20 1912 G e o . I I . C h u rch b id in fo r $256,000
th e fo llo w in g secu rities fo rm e r ly o w n e d b y th o C h ic . & O ak P a rk E le v . R y.:
$ 8 5 9 ,0 0 0 L a k e S t . E le v . R R . 5 % in c . b o n d s ; d e m a n d n o te s o f C h ic . &
O a k P a rk E le v . I t R . v a r io u s ly d a t e d fro m A p ril 23 1904 t o Jun e 15 1910,
a g g r e g a tin g $ 1 ,9 8 9 ,5 2 8 ; $ 5 ,8 5 0 L a k e S t. E le v . R R . in c . b o n d s s crip . A t
S h e r iff’s sale in N e w Y o r k o n Jan . 26 1912, M r . C h u rch b id In fo r $ 2,000
a ll title o f t h e R y . C o . in th e fo re g o in g b o n d a n d n o te s , also som e $ 4 7 3 ,0 0 0
a d d itio n a l n otes o f th e R a ilr o a d C o ., a n d in c e rtifica te s fo r 91,651 17-40s h a res o f C h ic . & O a k P a rk E le v . R R .
V . 9 4 , p . 1763.
T h e C h ic . & O a k P a rk E le v .
w as in c o rp . in N e w J ersey o n A p ril 22
1904 t o h o ld th e s ecu rities o f th e C h ic a g o & O ak P a rk E le v a te d
C o . , fo rm e r ly th e old L a k e Street E le v a te d R R . , reorgan ized p o r pla n in
V . 7 7 , p . 1874; V . 7 8 , p . 1392. N o rth w e ste rn E le v a te d ow n s 5 1 % o r s t o c k .
expires in 1930.
STOCK A N D BO N DS—
S t o c k .........................................................
$ 1 0 ,0 0 0 ,0 0 0 ......................
L a k e S t E l 1st M , $ 5 ,0 0 0 ,0 0 0 ,7 1893 5 J -J
4 ,4 3 2 .0 0 0 J u ly 1 1928
gu a r b y N W E l _________ t f 1A m e rica n T r u s t & S a v . B a n k , C h ic a g o , and
I C e n tra l T r u s t o f Illin o is, C h ic ., T ru stees.
I n c o m e m t g e , $ 1 ,0 0 0 ,0 0 0 ....................
5%
128,600 ......................
E q u ip m e n t n o t e s ................
189,000 ......................
R e a l estate m tg e s ........ ............................
7,4 6 2 ........ ..............
R e c e iv e r ’s c e r tfs , $ 2 , 0 0 0 , 0 0 0 . . ........
3 20 .000 ......................
B onds.— F irst m o r tg a g e b o n d s assen tin g t o re organ ization w ere s ta m p e d
s u b je c t t o call a t 105 an d in t . o n a n y Interest d a te . T h e o ld in c o m e b o n d s ,
w ith th e e x c e p tio n o f $ 1 2 8 ,6 0 0 , are h e ld in tre a su ry o f th e ra ilw a y c o m p a n y
R O A D .— O w ns a d o u b le tra ck e le v a te d ra ilw a y fro m F ifth A v e n u e a n d ’
L a k e Street t o 52d S t. a n d L a k e S t ., w ith sp u r d o w n M a r k e t S t . t o M a d is o n
S t. T ra in s b eg a n ru n n in g a ro u n d th e lo o p in O c t . 1897.
C h ic a g o &
H a rlem fo rm s an exten sion co m p risin g 4 m iles m o re o f d o u b le t r a c k . T o t a l
sin gle tr a c k , 2 2 .5 1 m iles.
R E P O R T . — F o r y ea rs e n d in g Ju n e 30 fo r Railroad C o .
1912.
1909.
1910.
1911.
P a ssen ger ea rn in g s______
$ 83 5,50 5
$802,581
$81 2 ,9 5 5
786 ,600
O th er ea rn in g s__________
3 9 ,916
3 7 ,7 9 8
3 3 .8 8 5
38,853
T o t a l ea rn in g s________
$ 84 0,37 9
$87 5,42 1
$ 84 6,84 0
$825,453
O p era tin g e x p en ses____
6 68 ,349
6 1 1 ,0 7 4
63 9 .2 3 4
517,010
N e t ea rn in g s__________
$ 2 0 7 ,6 0 6
$27 2 ,0 3 0
$26 4 ,3 4 7
$30 8,44 3
O th er in c o m e ___________
3 ,3 6 7
3 ,5 1 5
T o t a l in c o m e __________
$21 0 ,9 7 3
$ 26 7,86 2
$ 27 2,03 0
$308,443
F ix e d c h a r g e s ----------------* 506 ,396
44 4 ,5 5 5
4 74 ,187
4 50 ,735
$
29
5,42
3
D e f i c i t .............................
$17 6 ,6 9 3
$202,157
$142,292
* F ix e d ch arges In 1910-11 in c l. in t . o n flo a tin g d e b t , w h ich Is n o t n o w
b e in g p a id .
R E C E I V E R . — Sam uel In s u ll.— V . 9 2 , p . 1435: V . 9 3 p . 4 0 7 , 6 6 6 , 939 ,
138 6, 1785; V . 9 4 , p . 123, 2 0 6 , 2 7 8 , 1763; V . 9 7 . p . 175.

Ry.

Franchise

Railroad

Date. Interest. Outstanding. Maturity.

U N IO N C O N S O L I D A T E D E L E V A T E D R Y .
O R G A N I Z A T I O N .— F o r m e d in 1896 a n d b u ilt fro m U n io n E le v a te d a t
5 th A v e . w est t o M a r k e t S t .; th e n ce t o M e tro p o lita n W . S E l .; to t a l,
1-5 m ile o f tr a c k ; is o p e ra te d b y th e M e tro p o lita n W e s t Side E l
Fran chise
expires O c t . 7 1945.
STOCK A N D BO N DS—
D a te . In terest.
Outstanding.
M a tu rity .
S t o c k _________ ______ - ..............- ............................ ..
$ 1 ,0 0 0 ,0 0 0 .
Series “ A ” 1st m t g e , g o ld ,\ 1896 5 g M - N
4 5 3 ,0 0 0 N o v I 1936
g u p & l b y M o t W S J E l-c p t f O . S h erm an , V .- P . C e n . T r . C o . , N .Y .,T r u s
M o r t g a g e $ 1 ,0 0 0 ,0 0 0 , o f w h ic h $ 5 0 0 ,0 0 0 series “ A . ”
V . 6 3 , p . 1065O f th e $ 5 0 0 ,0 0 0 Series “ A ” b o n d s , $ 4 5 3 ,0 0 0 are o u tsta n d in g ( o f w h ich $46 ,­
0 0 0 h eld b y C h ic a g o R y s . C o ll. T r u s t ); $ 4 5 ,0 0 0 are in treasu ry a n d $ 2 ,0 0 0
u n issu ed .
O F F I C E R S .— P r e s ., S am uel In su ll; V . - P . , G ilb e r t E . P o r te r ; S e c . and
T r e a s ., W . V . G r iffin .

CINCINNATI, OHIO.
C I N C I N N A T I & C O L U M B U S T R A C T I O N C O .— A tr o lle y r o a d .
R eceivership.— T h e U n io n S a v . B a n k & T r u s t C o . o f C in c in n a ti, tru stee
o f b o t h m o r tg a g e s , w as on A p ril 12 1913 a p p o in te d re c e iv e r o f c o m p a n y ,
flo o d * a n d in a b ility t o m e e t m atu rin g b o n d issues be in g assigned as th e
ca u s e .
V . 9 6 , p . 1156. I n t . on 2 d M . b o n d s is in d e fa u lt.
O R G A N I Z A T I O N .— I n c o r p . Jan . 21 1903. F ranchises e xp ire In 1930.
F o r decision o f U . S . Su p rem e C o u rt h a n d e d d o w n o n N o v . 11 1912, h o ld ­
in g th a t th e B . & O . Sou th w estern an d th e N o r fo lk & W e stern (steam )
roa d s c a n n o t b e c o m p e lle d t o g ra n t p h y sica l c o n n e c tio n w ith th e c o m a p n y .
see V . 9 5 , p . 1402.
S T O C K A N D B O N D S — • D a te .
In terest. O utstanding. M a tu rity .
------------$ 9 7 9 ,5 0 0
..................
C o m m o n , $ 1 ,2 5 0 ,0 0 0 ( $ 1 0 0 ) - - ------P f 5 % c u m $ 1 ,2 5 0 ,0 0 0 ($ 1 0 0 ).....................................
9 2 5 ,5 0 0
....................
F irst m o r tg a g e , $ 6 0 0 ,0 0 0 ,
/ 1905
5 g J -J
6 0 0 ,0 0 0 J u ly 1 1913
g o ld ........ ..............- ................c * ( I n t . a t U n io n S a v . B k . & T r . C o . , C in .,T r u s t .
S e con d m tg e n o t e s , $ 2 5 0 , 0 0 0 / -------, 5 %
148,000 Jan
1 1914
l i n t , a t U n io n S a v . B k . & T r . C o . , C in cin n a ti.
Bonds.— T h e d en om in a tio n s o f th o firs t m o rtg a g e b o n d s a re, re s p e c tiv e ly ,
6 $ 5 0 ,0 0 0 ; 30 $ 5 ,0 0 0 ; 100 $ 1 ,0 0 0 ; a n d 100 $ 50 0.
T h e y ca n b e ca lle d at
a n y tim e a t p a r . B o n d s o rig in a lly m a tu re d J u ly 1 1909 b u t w e re exten d ed
fo r
yea rs. V . 8 9 , p . 102, 7 2 0 . O n J a n . 1 1912 th e y w e ro again ex­
t e n d e d 18 m o n th s . S e co n d m tg e . n o te s fell d u e J u ly 1 1912 b u t w e re
ex ten d ed fo r 18 m o n th s t o J a n . 1 1914.
E A R N I N G S .— F o r 12 m o s . e n d in g D e c . 31 1912, g ro ss, $1 1 7 ,5 9 8 ; n e t,
$ 4 3 ,4 0 7 . 191 1, g ross, $1 1 8 ,3 3 7 ; n e t , $43 ,1 5 5 .
R O A D .— O p erates 54 m iles o f tr a c k betw eon C in cin n a ti an d H illsb o ro ,
p u t in co m p le te o p e ra tio n in F e b . 1906. Stan d ard g a u g e , 7 0 -lb . T rail.
O F F I C E R S .— P r e s ., H . H . H o ffm a n ; V . - P . , L ew is S ea son good ; 2 d V . - P . .
H a r ry J . G ib s o n ; S e c ., W illia m T o p io ; T r e a s ,, O . J . G o ld b e r g — V 94
p . 278 ; V . 9 5 . p . 1402; V . 9 6 . p . 116 6.
B
V '

CINCINNATI GEORGETOWN & PORTSMOUTH R R .— Steam and
e le ctric.
In J u ly 1911 c o n tr o l o f ro a d ch a n ge d han ds a n d In S e p t. 1 9 1 1 en tered in to
a m an a gem en t a g reem en t w ith th e F e licity & B eth el R R . and th o O h io
R iv e r & C o lu m b u s R R . (a ste a m r o a d ) . V . 9 3 , p . 796 .
O R G A N I Z A T I O N .— F o rm e rly a n a rro w -ga u ge ste a m r o a d , b u t n o w
o p era ted b y b o t h ele ctr ic ity a n d s te a m . U n d e r O h io law rom ain s a steam
r o a d . Franchises p erp e tu a l.
F a re D ec is io n .— O n F e b . 17 1914 th e O h io Su p rem e C o u rt su stained th e
rig h t o f th is c o m p a n y a n d th o In te ru rb a n R y . & T e r m in a l C o . t o charge
10 cen ts fr o m C in c in n a ti t o C a lifo rn ia (O h io ) a n d C o n e y Isla n d (O hio)
b o t h n o w fo rm in g p a r t o f C in cin n a ti. V . 9 8 , p . 610.




[ V o l . XCV1II.

STO CK A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
................
$ 1 ,5 0 0 ,0 0 0 .......................
S to c k , $ 1 ,5 0 0 ,0 0 0 ................. ..................
1st m tg e , $ 1 ,0 0 0 ,0 0 0 , g o l d /
1902 5 g J -J
1 ,0 0 0 ,0 0 0 Jan 1 1 9 3 2
($ 1 ,0 0 0 ) ................. ..............c * l l n t . a t U n ion S a v . B k .& T r .,C in .,T r .,& in N .Y
P el & B o th 1st M * 1 0 0 ,0 0 0 , g (
1905 5 g A -O
1 0 0 ,0 0 0 O ct 1 1 9 3 5
( $ 1 ^ 0 0 ) . n o t ca lla b lo — c * |Iut. at U n ion S a v . B k . & T r ., C in ., T r u s te e .
O h io
M . g o l d ,/
1903 5 J -J
50 0 ,0 0 0 Ju n e 1 1933
$ 1 ,0 0 0 ,0 0 0 ($500, $ 1 ,0 0 0 ) c ( l n t . a t U n ion S avin gs & T r . C o . , C in e ., O h io .
, J ^ R N I N ^ ? A T ? ,° ,r
y ear 1911. Sross, $18 5,44 1; n e t . $ 3 4 ,1 9 0 .
In
1910, g ro s s , $ 17 4,01 1; n e t . $ 2 4 ,4 4 8 .
R O A D .— O perates 49 m iles fro m C in cin n a ti s o u th e a s te rly t o R u s se ll
ville . In clu din g b r a n c h y o f 3 .5 m . t o B a ta v ia an d 1.5 m . t o C o n e y Isla n d .
T h e F e licity & B e th e l has 8 .5 m . o f tra ck betw eon th e p o in ts n a m e d in its
title . T h e O h io R iv e r & C o l. exten ds fro m R ip le y t o S ardin ia, 24 m iles.
O F F I C E R S .— P r e s .. A . J . Siegel. S t. L o u is; V . - P . , E . G . I I . K essler.
S t. L o u is; S e c . & G e n . M g r ., C h a s . J . F in g e r.— V . 9 3 , p . 2 2 9 . 796; V . 9 8 .
p . 610 .
„ C IN C IN N A T I L A U R E N C E B U R G & A U R O R A E L E C T R IC S T R E E T
R R .— A tr o lle y r o a d .
Receivership. — O n J u n e 23 1913 J u d g e W a rn e r a t C in cin n a ti a p p o in te d
F . B . S h u tts o f F lo rid a rece iv e r o n a p p lica tio n o f P re s . J . O . H o o v e r , w h o ,
it is s ta te d , loan ed th e c o m p a n y $ 1 2 5 ,0 0 0 . T h e c o m p a n y su ffe re d d a m a ge
fro m th e r e c e n t f lo o d . V . 9 6 , p . 1839.
O R G A N I Z A T I O N .— In c o r p o r a te d in N o v . 1898. Franchises exp ire in
1924 and 1925.
STOCK A N D BO N DS—
Date.
Interest. Outstanding. Maturity.
C o m m o n , $ 7 5 0 ,0 0 0 ..........................................................
$ 75 0,00 0 ......................
P r e f, 6 % c u m , $ 2 5 0 ,0 0 0 .........................
Q -J
5 8 ,9 0 0 ......................
F irst m o r tg a g e . $ 7 5 0 ,0 0 0
J 1899
5 g J -J
75 0 ,0 0 0 J u ly 1 1919
($ 1 ,0 0 0 ), g o l d ____________ .(I n t e r e s t a t U n . S a v . B k . & T r . C o . , C in ., T r .
S T O C K .— P re f. s to c k w as Issued fo r m o n e y assessed o n c a p ita l s t o c k .
N o in terest has been p a id .
E A R N I N G S ,— F o r y e a r e n din g J u n e 30 1913, g ro s s , $1 0 9 ,1 7 9 ; n e t , $ 3 7 ,­
864; fix e d c h a rg e s , $ 4 3 ,8 8 4 ; d e f ., $ 6 ,0 2 0 .
R O A D .— O perates 38.1 4 m iles o f tra ck fro m A n d e r s o n ’s F e r r y , a t C in ­
c in n a ti, t o A u r o r a , H arrison a n d L a w re n ce b u rg .
O F F I C E R S .— R e c e iv e r , F . B . S h u tts; P r e s ., J . C . n o o v o n , H a m ilto n ,
O .; T r e a s . a n d G e n . M g r ., C . E . H o o v e r ; A u d ., E . M . G u m p f.— V . 78,
p . 2 0 1 1 , 2 3 8 3 ; V . 9 6 , p . 1839.
C IN C IN N A T I M IL F O R D & L O V E L A N D T R A C T IO N C O .
O R G A N I Z A T I O N .— In c o r p o r a te d in O h io in S e p t. 1902 an d pu rch ased
franchises a n d rights o f th e C in cin n a ti M ilfo r d & E a stern T r a c tio n C o .
Strike.— C o m p a n y s u ffe re d fr o m a strik e la stin g fro m S e p t. 1913 t o M a y
1914.
STOCK A N D BO N DS—
Date.
Interest. Outstanding.
Maturity.
C o m m o n , $ 1 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) . . ........................ .......
$ 1 ,0 0 0 ,0 0 0 ................. ..
P r e f, $ 6 5 0 ,0 0 0 , 6 % c u m - - - - - - - - - .................
6 49 ,425 N o d iv . y e t .
F irst m o r tg a g e , $ 5 0 0 ,0 0 0 , g / 1905
5 g J -J
4 41 ,000 J u ly 1 1925
($ 5 0 0 )........ .............................c * ( I n t . a t P r o v . S a v . B k . & T r . C o ., C in ..T r u s t .
Bonds.— A r e s u b je c t t o call a t a n y tim e a t 110. Seo V . 8 1 . p . 264 .
R O A D .— O perates 37 m iles o f tra ck fro m C in cin n a ti t o B la n ch ester.
G a u g j, 5 f t . 2 in .; 7 0 -lb . rails. E n ters C in cin n a ti o v e r th e tra ck s o f th e
C in cin n a ti T r a c t io n C o .
O F F I C E R S .— P r e s ., B . H . K ro g e r ; S e c ., J . N e v in R o b e r t s ; A u d ., A . O .
W e n z e l.— V . 8 1 , p . 264 .
I N T E R U R B A N R Y . & T E R M I N A L C O .— A tro lle y r o a d .
O R G A N I Z A T I O N .— In c o r p o r a te d In O h io o n N o v . 3 1902 a n d is a c o n ­
so lid a tio n o f th e C in cin n a ti & E a stern E le c tr ic R y ., th e R a p id R a ilw a y C o .
an d th e S u b u rb a n T r a c tio n C o . In J u ly 1907 o b ta in e d a u th o r ity t o issue
$ 1 ,0 0 0 ,0 0 0 p r e f. s t o c k , o f w h ich $90 0 ,0 0 0 w as in e xch an g e fo r an equal
a m o u n t o f 1st m tg e . b o n d s d a te d 1903. V . 8 5 , p . 221 , 4 6 9 . T h e 1903
b o n d issue h as been e n tirely ca n c e le d . In 1908 a new m tg e . m a d e , as b elow .
STO CK A N D BO N DS—
Date.
Interest. Outstanding. Maturity
C o m m o n , $ 2 ,5 0 0 ,0 0 0 ($ 1 0 0 ).......................................
$ 2 ,5 0 0 ,0 0 0 ......................
P r e f $ 1 ,0 6 0 ,0 0 0 ($100) 5 % - - - ............... - - - - 1 .0 0 0 .0 0 0 .......................
F irst m o r tg a g e , $ 1 ,6 5 0 ,0 0 0 ./ 1908
5 J -J
m
See te x t.
1928
g o ld
- - t f ( I n t . a t C in cin n a ti T r u s t C o . , T r u s te e .
Bonds.— O f th e $ 1 ,6 5 0 ,0 0 0 1 st m tg e . b o n d s , a sm all p o r tio n has been sold;
th e rem ain der is be in g used as collateral fo r loan s.
E A R N I N G S .— F o r calen d ar y e a r 191 2. g ro ss, $ 3 3 0 ,6 4 3 . In 1911, gross.
$3 2 9 ,4 8 7 . I n 1910, g ro ss, $3 1 9 ,1 7 3 .
R O A D .— C o m p ris e s 22 m iles o f tra ck betw e e n C in cin n a ti an d N e w R ic h ­
m o n d . 33 m iles betw e e n C in cin n a ti a n d L e b a n o n an d 28 m iles fro m C in ­
cin n a ti t o B e th e l. T h e la tte r s e ctio n w as leased in A u g . 1906 t o th e U nion
G as & E le c . C o . o f C in c in n a ti, b u t lease ca n ce le d A u g . 31 1907. G a u ge.
5 f t . 2 X In. A ls o ow n s term in al sta tio n on S y ca m o re S t ., C in cin n a ti.
C ars enter C in cin n a ti o v e r th e track s o f th e C in cin n a ti T r a c tio n C o . 7 0 -lb .
a n d 9 7 -lb . T ra il. T o t a l tr a c k , 101 .4 m ile s, all o p e ra te d .
F F I C E R S .— P r e s .. G e o . I I . W o r th in g to n ; V . - P . , W a rre n B ick n e ll; S e c.
an d T r e a s ., J . M . H u tto n .— V . 8 5 , p . 2 2 1 ,4 6 9 , V . 8 6 . p . 285; V . 9 5 , p . 1331.
O H IO T R A C T IO N C O .
O R G A N I Z A T I O N — I n c o r p o r a te d in O h io o n M a y 22 1905 an d ow ns
p ra ctica lly th e e n tire c a p ita l s to c k o f th e C in cin n a ti I r a c . C o ., th e C in cin ­
n a ti Z o o lo g ica l C o . a n d C in cin n a ti C a r C o . , besides a largo Interest in th e
c o m . an d p r e f. s to c k o f th o C in cin n a ti D a y t o n & 1 o le d o T rac. C o . O n J u ly 6
*■*•*•’ W U iJ /M U J

" “ 'J —*

w h ich w e n t in to liq u id a tio n .
^
A
„
A greem ent with C ity .— O n M a r . 22 1013 plan m ade, to b u ild a m unicipal
rapid tran sit lo o p a n d w ill b e s u b m itte d t o th e C it y C o u n cil and the
c o o sh areh olders, a n d , i f a p p ro v e d b y th e m , t o th e c it y e lectors. T h e
agreem en t co n te m p la te s : (1) Surrender b y th e C ncin n ati S treet R y . o f its
present fra n ch ise; ( 2 ) a c c e p ta n c e o f an in d eterm in a te gran t w ith 6 tickets
fo r a q u a rter o n th e C in cin n a ti sy s te m , an d rig h t t o c it y to b u y th e p rop erty
a t th e end o f 5 years; ( 3 ) d iv isio n o f earnings w ith c it y ; (4) o p era tion a t 5 %
ren tal o f ra p id tran sit lo o p t o b o b u ilt b y c it y a t c o s t o f a b o u t $ 7 ,0 0 0 ,0 0 0 .
F o r fu rth er d etails see V . 9 6 , P- 948.
Tax D ecisio n .— O n O c t . 24 1912 J u d g e K in k e a d In th e C o u rt o f C o m m on
Pleas h eld t h a t th o c o m p a n y m u st p a y an excise tax u p o n th e earnings
d e riv e d fro m su b sid ia ry c o m p a n ie s , alth o u g h those su bsid iary co m p a n ies
them selves p a id th e S ta te oxclso ta x .
V . 9 5 , p . 1473. A n app eal has been
tak en t o th e C o u rt o f A p p e a ls .
STOCK—
D a te.
Outstanding.
Last D iv .
C o m m o n , $ 1 0 ,0 0 0 ,0 0 0 ($ 1 0 0 ).............
$8,65 5 ,0 0 0 See text.
8,80(b000 M a y T 4 , 1 J*
P r e f, $ 1 0 ,0 0 0 ,0 0 0 , 5 % c u m - - - - ­
F irst m tg e , $ 2 ,5 0 0 ,0 0 0 . g o l d ,/ 1911
sinking fu n d ’ l l .*000) J l-™ - ( I n t ."a t F id e lity T r u s t C o .,’ P h lla ., T ru stee.
Stock.— F u rth e r issues o f s t o c k c a n o n ly b e m a d e fo r acq u irem en t o f
o th e r pro p e rtie s a n d a d d itio n s t o th o p rosen t p rop ortlos.
B on ds.— F irst m tg e . co v e r s h o ld in g s o f s to c k o f th e C in cin n a ti T r a c tio n
C o . a n d C in cin n a ti C a r C o . o w n e d an d co n tr o lle d b y O hio T r a c . an d all
o th e r p r o p e r ty an d fra n ch ises e x c e p tio n ir a c t i o n c o s . ow n ersh ip o f s to c k in
O . D . & T . T r a c . C o . a n d C in cin n a ti Z o o lo g ica l C o . B o n d s are redeem able
as a w h ole o n an d a fte r M a r . 1 1916, o r In p a rt fo r sinking fu n d o n M a r . 1
1912 o r a n y In t. d a to th e re a fte r a t 103 and in t. Sinking fu n d p r o v id e s fo r
retirem en t o f b o n d s a t m a tu r ity . V . 9 2 , p . 726.
D ivid en d s.— F irst d iv . o n p r e f. s to c k — 1 J* % — w as p a id A u g . 1 1905:
1
has be e n p a id q u a r. sin ce t o an d in cl. M a y 1914. O n c o m ., fir s t d iv .
— 1 % — p aid N o v . 1 1909. , I n ,1910, O c t ., 1 % . i n 1911, J u ly . 1 % ; O c t .,
1 % . In 1912, J a n ., 1 % ; A p r il, 1 % ; J u ly , 1 % ; O c t .. 1 ^ ; D o c . , 1 % . In
1913, A p ril, 1 % . N o n o s ln c o .
’
O F F I C E R S .— P r e s ., W . K e s le y S ch o e p f; 1st V . - P . , C h a s . P . T a ft : 2nd
V . - P . , D a n a S teven s; 3rd V . - P . a n d S e c ., W a lte r A . D ra p e r; A s s t. S e c .,
D . J . D o w n in g ; T r o a s ., W . H . M a c A llls te r ; A u d ., I I . L . Sanders; G e n . M g r .,
T . F itz g o ra ld .— V . 9 2 . p . 4 6 2 , 726 : V . 9 4 , p . 1696; V . 9 5 . p . 818 , 1473; V . 9 6 .
p . 948 . 1157, 1365; V . 9 7 . p . 5 0 .

(1)

T he C incinn ati T raction Co.

O R G A N I S A T I O N .— I n c o r p o r a te d in O h io o n F e b . 19 1901 w ith an a u th .
ca p ita l s to c k o f $ 2 ,0 0 0 ,0 0 0 (w h ich , all e x c e p t 1 1 shares, is o w n e d b y th o
O h io T r a c . C o . ) , t o ta k e o v e r un d er lease th e C in cin n a ti Street R y . C o .
See V . 7 2 , p . 391 .
.
F ranchise B ill.— A bill t o r e v o k e th o c o m p a n y ’s 5 0 -y e a r fra n ch ise w as
passed b y th e H o u s e a t C o lu m b u s o n A p ril 11 1913, b u t th o S enate C o m ­
m itte e o n M u n ic ip a l A ffa irs refu sed t o r e p o r t th o b ill. V . 9 8 , p . 1166.

M ay , 1914.

ELECTRIC RAILWAYS

In A p ril 1913 th e O h io L egisla tu re passed a bill g iv in g th e c it y o f C in cin ­
nati th e p ow er t o p u rch a se th e c o m p a n y s p r o p e r ty “ u p o n p a y in g th erefor
ju s t c o m p e n s a tio n ” (b u t o n ly i f a p p ro v e d a t c it y e le c t io n ), an d in th e m ean ­
tim e t o g iv e th o c o m p a n y an in d e te rm in a te g ra n t t o o p e r a te . Soo also
rem arks under “ O h io T r a c tio n C o . ” an d in V . 9 6 . p . 1364.
Strike.— A strike w as begu n o n th e c o m p a n y 's lines o n M a y 10 1913, b u t
on M a y 20 tho m en retu rn ed t o w o rk , an ag re e m e n t h a v in g beon reach ed
See V . 96. p . 1488.
D ec is io n s .— O n D o c . 27 1911 J u d g e Ilo ffh e im o r in S u p erior C o u r t d e cid e d
th a t c o m p a n y is a c c o u n ta b le t o c it y fo r 6 % o f gross earnings fro m all tra ffic
w ith in c it y lim its, in clu d in g th e p a r t o f it re ta in e d b y in teru rb an ro a d s .
N OTES—
D a te.
In terest.
Outstanding.
M a tu rity
E q n o te s “ A ’$ 20 0,0 0 0 g ( $ l ,000) 1908
6 g A -O
$ 9 0 ,0 0 0 See te x t.
E q u ip n otes Ser “ B " $ 3 6 0 ,0 0 0 / 1910
5 g J -J
2 3 4 .0 0 0 See te x t.
g o ld ($ 1 ,0 0 0 )____________ c * l l n t . a t ’ F id e lity T r u s t C o . , P h ila ., T ru ste e .
E q u ip n o te s , Sories “ G ,” f 1911
5 g J -J
165,000 Seo to x t.
$ 2 2 0 ,0 0 0 , g o ld ( $ l,0 0 0 ).c * \ F id e l l t y T r u s t C o . , P h ila d e lp h ia , T ru ste e
E q u ip n o to s , Series “ D , ” j 1912
5 g A -O
3 0 6 ,0 0 0 Seo to x t.
$34 0 ,0 0 0 , g old ( $ 1 ,0 0 0 ) .c * (F id e lit y T r u s t C o . , P h ila d e lp h ia , T ru ste e .
E q u ip n otes Series “ E ” $20 0,-1 1914
5 g M -S
2 0 0 ,0 0 0
See to x t
0 0 0 g o ld ( $ 1 ,0 0 0 )_______ c * \ F id e lity T r . C o . , P h ila ., trustee.
Ser. " A " are 1st M . o n 50 new cars. T h e y m atu re $ 10 ,000 o v e r y six m o s .
fro m O c t . 1 1908 to A p ril 1 1918, in cl. Ser. " B " are a i s t M . o n 100 now
cars a n d m atu re $ 1 8 ,0 0 0 e v e r y 6 m o s . fro m J a n . 1 1911 t o 1920, in c l.
V . 91,
p . 154. Series “ O ” n otes are 1st m tg o . o n 50 now ca rs. T h e y m atu re
$ 1 1 ,0 0 0 h a lf-y e a rly fro m J a n . 1 1912 t o J u ly 1 1921. V . 9 3 . p . 526 . Series
“ D ” are a 1st M . o n 76 now cars an d m atu re $17 ,0 0 0 h a lf-y e a rly fro m A p r. 1
1913 t o O c t . 1 1922, in c l. V . 9 5 , p . 8 8 9 . Series “ E ” c o v e r s 60 n o w d o u b le ­
tr u c k cars and m a tu re $ 1 0 ,0 0 0 so m i-a n n u a lly fro m S e p t. 1 1914 t o M a r
1924. V . 9 8 , p . 689 , 999 .
R E P O R T . — F o r 12 m os . e n d in g D e c . 31 1913, gross, $ 5 ,1 6 4 ,7 8 4 ; in 1912,
gross, $ 5 ,2 5 1 ,3 9 9 ; in 1911, g ro ss, $ 5 ,0 8 7 ,1 4 9 ; in 1910, gro ss, $ 5 ,0 0 1 ,5 1 0 .
R O A D .— T h o C in cin . S t. R y . co m p rise s 227 .2 3 m iles o f tr a c k in th o c it y
o f C in c in n a ti, O h io , ex ten d in g also t o a d jo in in g su b u rb s . T h e last ca b le
lino w as c o n v e r te d to e le ctr ic ity in Ju n o 1902. G a u g e , 5 f t . 2M in.
O F F I C E R S .— C h a irm a n E x e c u tiv e C o m m , a n d P r e s ., W . K e slo y
S c h o o p f; V .- P ., D a n a S tovon s; Y . - P . a n d S e c ., W a lte r A . D ra p er; A s s t.
S e c ., D . J . D ow n in g ; T r e a s ., W . I I . M a c A llis te r ; A u d ., I I . L . Sanders;
G o n . M g r ., T . F itz g era ld ; S u p t. T r a n s p ., A . J . O ste n d o rf; C h ie f E n g .,
T ito s . E llio t t ; P u r . A g t ., C . B u r c k m y e r .— V . 9 1 , p . 154, 1327; V . 93, p .
526 ; V . 9 4 , p . 206 ; V . 9 5 , p . 8 1 7 , 889; V . 9 6 , p . 1156, 1364, 1488; V . 9 8 ,
p . 6 8 9 ,9 9 9 .
(a) C incinnati Street Railway. — E le c tr ic .
W a s leased on F o b . 21 1901 t o th o C in cin n a ti T r a c tio n C o . fo r th o u n e x plrod term o f the fra n ch ise g ra n te d b y th o C it y o f C in cin n a ti o n A u g . 13
1896, a n d all su ccessive renew als an d exten sion s o f th o sa m e. T h o ren tal is
Intended t o p ro v id o d iv id en d s o f 5 H % fo r th o fir s t y e a r, 5 K % fo r th o sec­
ond, 5 3
/ i % fo r th o th ird an d 6 % fo r th e fo u r th y e a r an d th e re a fte r. V . 7 2 ,
p . 136. F ran ch ises, it is c la im e d b y c o m p a n y , m atu re A p ril 22 1946.
O R G A N I Z A T I O N .— I n c o r p o r a te d Ju n o 21 1880 an d in 1896 p u rchased
M t . A d a m s & E d e n P a rk a n d M t . A u b u r n ro a d s.
S T O C K A N D B O N D S — ■ P a r.
Interest. Outstanding. Last div.,<&c.
S to c k , $ 2 0 ,0 0 0 ,0 0 0 .. - ............... $50
6 Q -J
$ 1 8 ,5 1 1 ,9 5 0 Seo to x t.
D ivid en d s.— -To an d in clu d in g A p ril 1901, 5 % p er a n n u m ; J u ly 1 an d
O c t . 1 1901 and Ja n . 1 an d A p ril 1 1902, 1 .3 1 2 5 % ea ch ; J u ly 1 1902, O ct. 1
1902, Ja n . 1 1903 an d A p ril 1 1903, 1 .3 7 5 % each ; J u ly 1 an d O c t . 1 1903
a n d Jan . 1 an d A p ril 1 1904. each 1 .4 3 7 5 % ; J u ly 1904, l\ i% \ O c t . 1904.
IM % .
D iv id e n d s sin co h a v o boon a t th o ra te o f 6 % p er an n u m and w ill
s o c o n tln u o t o th o on d o f loase an d its ron ow als.
O F F I C E R S .— P r o s ., J oh n K llg o u r ; Y . - P . , E d w a r d G o o p p e r ; S ec. &
T r e a s ., A . J . B o c h t.— V . 8 3 , p . 1523; V . 8 4 , p . 1551; V . 9 1 , p . 1446; V . 9 7 .
p . 364 .
(2) C incinnati & Hamilton T ra ction .— A tr o lle y road.
O R G A N I Z A T I O N .— T h is c o m p a n y w as org a n ize d in A u g . 1902 as a
co n s o lid a tio n o f tho M ill C reek V a lley Street R y . an d th o H a m ilto n G lon d ale
& C in cin n a ti T r a c tio n .
V . 75, p . 497 . O n S e p t. 30 1902 w as leased to tho
C in cin n a ti Intoru rban C o . (V . 7 5 , p . 9 0 6 ), b u t o n J u ly 6 1905 loaso w as
assigned to the O h io T r a c tio n C o . an d th o C in cin n a ti In teru rban C o . p laced
in liq u id a tion . R o n ta l, y ea r begin n in g O c t . 1 1902-03, $55 ,0 0 0 ; 1903-04,
$ 60 ,500 ; 1904-05, $66 ,0 0 0 ;
1905-06, $7 1 ,5 0 0 ;
1906-07 a n d 1907-08,
$ 77 ,000 ; 1908-09 a n d 1909-10, $82 ,5 0 0 ;
1910-11, $ 88 ,000 ;
1911-12,
$ 93 ,500 ;
1912-13 t o 191 4-1 5, $99 ,0 0 0 ; th e re a fte r, $10 0 ,0 0 0 .
O n A p r . 27 1914 th o c o m p a n y file d a su it in th e U . S . D is t . C o u rt t o h a vo
d ecla red illegal th o o r d in a n ce passed b y th o C it y C o u n c il a n d signed b y
M a y o r Spiegel o n th e sam o d a y , w h ic h p r o v id e d fo r a 5 -ce n t instead o f a
1 0 -cen t fa ro fro m C in c in n a ti t o C a rth a g o an d H a rtw e ll. Seo V . 9 8 , p . 1392.
STOCK AN D BON DS—
D a te.
In terest.
O utstanding. L a st D iv.
S to c k , c o m , $ 1 ,1 0 0 ,0 0 0 ( $ 1 0 0 ) ------Q -J
$ 1 ,1 0 0 ,0 0 0 A p r '1 4 ,1 %
S t o c k , preferred , $ 1 , 1 0 0 , 0 0 0 ( ____
Q -J
1 ,1 0 0 ,0 0 0 A p r '1 4,1 V,
($ 1 0 0 ), 5 % , c u m u la tiv e ___ j
D ividends.— 5 % p er ann um is be in g p a id o n th o p r o f, s t o c k . T h o firs t
d iv . o n th e c o m . o f H % w as p a id Jan . 1 1904 a n d \ i% w as again p a id on
A p ril 1, J u ly 1 and O c t . 1 1904. In 1905, 1 % ; in 1906, 1 H % ; in 1 9 0 7 ,2 % ;
in 1908, 2 % ; in 1909, 2'A % -, in 1910, 2 K % ; in 1 9 i l an d 1912, 3 % ; in
1913, 4 % ; in 1914. J a n ., 1 % ; A p r ., 1 % .
R O A D .— O w ns an d op era te s 3 1 .3 2 m iles o f tra ck fro m th o " Z o o ” in C in ­
cin n a ti t o H a m ilton a n d 15 m iles fro m C in cin n a ti to L o c k la n d .
G auge,
5 ft. 2 H in . O perates o v o r tra ck s o f C in cin n a ti T r a c t io n C o . f r o m " Z o o ’;
to F o u n ta in S qu are in C in cin n a ti.
O F F I C E R S .— P res., II. II. H o ffm a n ; V . - P . , B . L . K ilg o u r ; S ec. &
T r e a s ., A . J . B o c h t, all o f C in c in n a ti.— V . 7 5 , p . 29 0 , 4 9 7 , 906; V .9 8 , p .l3 9 2 »

CLEVELAND, OHIO.
CLEV ELA N D R A IL W A Y CO .
C om pany R esum es P ossession .— T h e receivers o f th e M u n ic ip a l Traction
C o. h a v in g boon disch arged an d th o d e b ts o f th a t c o m p a n y p r o v id e d fo r ,
th e C le v e la n d H allw ay C o . on M a r . 1 1910 resu m ed possession o f its linos
u nd er ord in a n ce (seo bolow ) o f D e c . 1909. V . 9 0 , p . 62 6 . T h o loaso t o th e
M u n ic ip a l Traction C o. w as ca n ce le d o f re co rd .
N ew Franchise O rd inance.— T h o “ s e c u r ity ” fra n ch ise o rd in a n ce g ran ted
A p ril 27 1908 n o t b ein g ra tifie d (V . 8 7 , p . 1089) a n d th o S c h m id t ord in a n ce
b oin g d e fe a te d at a referen d u m e le ctio n A u g . 3 1909 ( V . 8 9 , p . 3 4 8 ), a new
fra n ch is e ord in a n ce (V . 8 9 , p . 1667) w as passed in D e c . 1909 b y th o C it y
C o u n c il, an d a c c e p te d b y tho ra ilw a y c o ., based u p o n th o v a lu a tio n o f the
c o . ’s p r o p e r t y as fix e d b y J u d g o T a y lo r . T h o o rd in a n ce gran ts franchises to
op era te on existing road s t o M a y 1 1934, s u b je c t t o th e rig h t o f th o c it y to
p u rch ase th o p r o p e r ty .
In case th o c it y shall purch ase an d ta k o o v e r th o
p r o p e r ty o f th o c o m p a n y , as is in this o rd in an ce p r o v id e d , th en it shall p a y
fo r tho sam o ttio c a p ita l v a lu o o f said p r o p e r ty , as fix e d b y S ec. 16, plus
1 0 % o f so m u ch o f th o ca p ita l va lu e as is represen ted b y c a p ita l s t o c k ,
th o c it y a t tho tim o o f s u ch p u rch ase assum ing an d agreeing t o p a y ,
in a d d itio n th eroto, all th o o b lig a tio n s , in debtedn ess an d liab ilities
o f said c o m p a n y , a n d ail liens o th e r than b o n d e d in d ebted n ess u p o n its
p r o p e r ty then existin g, w h ich b o n d e d In debtedness th e c it y shall, a t th o
tim o o f a n y such p u rch a so, p r o v id o fo r b y a ssu m ption if th o law au th orizin g
such purch aso p erm its, o r b y p a y m e n t i f th o law so auth orizes a t th o tim o
and u n d er tho p rov is ion s o f th o b o n d s th e y are c a lla b lo , o r b y tak in g th o
p r o p e r ty s u b je c t th eroto i f th a t b o th o m o d e p ro v id e d b y law fo r dealing
w ith su ch existing b o n d e d in d eb ted n ess in m a k in g such pu rch aso. O n and
a fter Ja n . 1 1918 th o c it y m a y d esign ate a p u rchaser o r licenseo in p la ce o f
th o c it y on p a y m e n t o f sam e a m o u n t. O n F e b . 17 1910 a t a referen d u m elec­
tion th o electors ra tified th o o rd in a n ce ( V . 8 9 , p . 1667; V. 90, » . 167, 502)
O n J u iy 10 1911 C i t y C o u n c il passed an o r d in a n c e am en d in g th a t o f D ec.’
1909 p r o v id in g , a m o n g o th e r th in gs, fo r a d d itio n s to c a p ita l a s requ ired and
p a rticu la rly fo r th o im m ed ia to ex p e n d itu re o f $ 2 ,5 0 0 ,0 0 0 fo r im p ts ., oxten s.
and e q u ip t. T h o o r d in a n ce also p ro v id e d th a t th o rig h t o f th o c it y to p r o p o s o e x te n ., b e tte r m ’ ts o r im p ts . shall te rm in a te w h e n e v e r th o u n oxp ired
term o r a n y ronow al th e r e o f is loss th an 15 y e a rs, an d also th a t du rin g such
p eriod th o c o m p a n y m a y o p e r a te a t th o m axim u m ra te o f fa re a n d fix th e
sch ed u les s u b je c t to th o p o lic o p o w e r o f th o c it y . P ro v isio n is also m a d o fo r
th o uso o f surplus e arnings du rin g th is 15-yr. p e r io d , eith er in t h o p a y m e n t o f
flo a tin g d e b t o r th o crea tion o f a s. f. t o p u rch ase securities an d red u co
ca p ita l v a lu o. A t a referend um election o n N o v . 7 1911, th o e lectors ra tifie d
th o or d in a n c e am en d in g th a t o f D e c . 1909.
V aluation.— J u d g o T a y le r p la c e d th o v a lu e o f th o p h y s ic a l p r o p e r ty o f th o
C le v e la n d E le c . R y . C o . a t $1 7 ,5 1 1 ,8 5 6 an d th o fra n ch iso va lu e a t $ 3 ,6 1 5 ,­
844; to t a l, $21 ,1 2 7 ,7 0 0 ; agreed v a lu o o f p r o p e r ty p u rch a se d fro m F orest
C it y R y . C o ., $ 1 ,8 0 5 ,6 0 0 ; to ta l v a lu a tio n , $ 2 2 ,9 3 3 ,3 0 0 . T o th is is a d d e d
$ 1 ,1 5 8 ,3 0 0 interest o r ron tal a c c r u e d , m ak in g th o on tiro " c a p ita l v a lu o ”




37

$ 2 4 ,0 9 1 ,6 0 0 . T h o b o n d e d d e b t o f $ 8 ,1 2 8 ,0 0 0 a n d flo a tin g in d e b te d n ess
as o f J a n . 1 190 8, $ 1 ,2 8 8 ,0 0 0 , o r $ 9 ,4 1 6 ,0 0 0 in a ll, is d e d u c te d , le a v in g
$ 1 4 ,6 7 5 ,6 0 0 . T h e v a lu a tio n is t o b e in crea sed fo r th e p u rp o s e o f fix in g th e
p r ico a t w h ich th o c it y o r its n o m in e e m a y p u rch a se th e p r o p e r t y b y th e
a m o u n t o f fu tu r e re q u ire m e n ts, in clu d in g c o s t o f n o w p a y -a s -y o u -e n te r cars
a n d 7 5 % o f th e c o s t o f r e m o d e lin g o ld cars as p a y -a s -y o u -e n te r cars.
F a res.— A n exp e rim e n ta l fa r e o f 3 c ., w ith l c . extra fo r tran sfers w ith o u t
re b a te , h a d t o b e t rie d to see If it w o u ld y ie ld th e a u th . in t . o n ca p ita l v a l.—
5 % o n b o n d s, 6 % o n flo a tin g d e b t a n d c a p ita l s t o c k . O n Ju n o 1 1911 a u th o r ­
ities o rd e re d th e fa r e r e d u ce d t o 3 c . cash fa r e , l c . e xtra fo r tra n sfe r, b u t th e
la tte r t o be r e b a te d w h en ta k en u p . V . 9 2 , p . 1498; Y . 9 3 , p . 1190. U nder
th o o r d in a n c e , fa r e t o E a s t C le v e la n d is sam e as c it y fa r e . F a re fo r o th e r
su b u rb s 5s. o r 11 t ic k e ts fo r 5 0 c ., a c c o r d in g t o c o n t r a c ts . T h e c o m p a n y ’s
sch ed u les an d ro u te s a re s u b je c t t o t h e su p e rv isio n o f th e c it y a n d th e
rates o f fa re t o b o fix e d s o as t o n e t a retu rn o f in te re s t as s ta te d a b o v e
o n th o ca p ita l v a lu e o f th e p r o p e r t y a n d p e rm it o f th e m a in te n a n ce a t all
tim es o f a s o -ca llo d in te re st fu n d o f a t least $ 5 0 0 ,0 0 0 . V . 8 9 , p . 1667.
O n D e c . 14 1912 th e C o u n c il o f C le v e la n d passed an o r d in a n c e g iv in g the
c o m p a n y th e rig h t t o tra n sp o rt fre ig h t w ith in th o c it y lim its in in teru rb a n
cars a n d t o ch a rg e th e in teru rb a n c o m p a n ie s 25c. p e r c a r m ile .
A s t o d e cis io n s o f b o a r d o f a r b itra to r s o n J u n o 19 1913 o n p o in ts in d isp u te
r e g a rd in g o p e r a tio n , a llo w a n ce s , & c ., seo V . 9 7 , p . 364 .
I t w as r e p o r te d in F e b . 1914 th a t th e c it y a u th o ritie s a n d th e c o m p a n y
h a d a greed t o raise th o fa re o n J u ly 1 1914, a ch arge o f 1 c e n t t o b o m a d e fo r
tran sfers in a d d itio n t o th e cash fa r o o f 3 c e n ts .
V . 9 8 , p . 522 .
O R G A N I Z A T I O N .— In 1908 ch a n g e d n a m e fr o m th e C le v e la n d E l e c ­
tric R a ilw a y C o . (w h ich h ad in 1903 ta k en o v e r th e C le v e la n d C i t y R y .)
t o C le v e la n d R a ilw a y C o . , a n d a u th o riz e d new s to c k t o th e a m o u n t o f $ 3 5 ,­
0 0 0 ,0 0 0 . T h o o ld s t o c k o f C le v e la n d E le c tr ic R y . w as g iv e n a v a lu a tion
o f $55 p e r sh are, o r $ 1 2 ,8 7 0 ,0 0 0 (th e s t o c k h a v in g fo rm e r ly been $ 2 3 ,4 0 0 .­
0 0 0 ) , w h ich v a lu a tio n w as agreed u p o n a fte r e x te n d e d c o n fe re n ce , an d
w h ich w as p a id in n ew s t o c k issu ed b y C le v e la n d R a ilw a y a t a p a r ($100)
v a lu a tio n . T h o F o r e s t C it y R y . (w h ich h a d fir s t a b s o r b e d th e L o w F a re
R y .) w as pu rch a se d fo r $ 1 ,8 0 5 ,6 0 0 s to c k o f C le v e la n d R y ., th e s h a r e s o f th e
F o r e s t C it y R y . b e in g a c c e p te d a t th eir p a r ($100) v a lu e .
E a r ly in 1912 m a d e a c o n t r a c t w ith th o C le v e la n d E le c tr ic Illu m in a tin g
C o . fo r th e p u rch a se o f p o w e r.
In F e b . 1912 en tered in to an a g re e m e n t w ith th e N o r t h R a n d a ll R y . to
o p e r a te cars o v e r an e le ctric railro a d b u ilt b y th a t c o m p a n y fro m th e B r o a d ­
w a y lin e o n M ile s A v e . t o th e N o rth R a n d a ll r a c e -tr a c k a n d fa ir g ro u n d s ,
3 K m ile s. T h e ro a d w as p la c e d in o p e r a tio n J u ly 29 1912. T h e N o rth
R a n d a ll R y . gu aran tees th o c o m p a n y a ga in st loss.
A fte r p a y m e n t o f all
expen ses, in c lu d in g in te re st, th e su rplu s earnings a re t o b o e q u a lly d iv id e d
b etw een th o tw o c o m p a n ie s.
O n S e p t. 16 1912 th o O h io P . U . C o m m . a u th . th e issu an ce o f $ 3 ,0 1 4 ,9 2 0
a d d itio n a l s t o c k fo r ex te n sio n s, b e tte rm e n ts a n d im p ro v e m e n ts , a n d to p a y
p a r t o f b o n d s d u e M a r . 1913. V . 9 5 . p . 236 , 480 . O n J a n . 20 1913 th e
d ir e cto r s a u th o r iz e d , an d o n F e b . 20 1913 th e P. U . C o m m , a p p r o v o d .a
fu rth e r $ 3 ,6 1 7 ,9 0 0 to b e issued a t p a r to p r o v id e fu n d s to re tire b o n d s w h ich
M a t u r e d M a r . 1 1913. V . 9 6 , p . 789.
O n D e c . 27 1913 th o d ir e cto r s a u th o riz e d $ 2 ,1 4 1 ,0 0 0 m o re s t o c k at par.
E a r ly in A p ril it w as a n n o u n ce d th a t $ 2 ,0 0 0 ,0 0 0 h ad been su b scrib ed
fo r e x te n sio n s, b o tte r m e n ts a n d im p ts . V . 9 8 , p . 7 3 , 155; V . 9 7 . p . 1897.
STO CK AN D BON DS—
D a te. In terest.
O utstanding.
M a tu r ity .
Q^J
$ 2 3 ,4 1 1 ,8 0 0 A p r ’ 1 4 . 1 &
S to c k $ 3 5 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ....................
F irst m o r tg a g o $ 3 5 ,0 0 0 ,0 0 0 g\ 1911 5 M -S
5 ,4 9 5 ,0 0 0 M c h 1 1931
( $ 1 , 0 0 0 ) -----------------------c * t f j In te re st in N e w Y o r k C it y o r C le v e la n d .
B on ds.— O f th e firs t m o r tg a g e o f 1911, $ 5 ,0 0 0 ,0 0 0 a u th . m a y b o issued for
8 5 % o f cash c o s t o f exten sion s, b e tte r m e n ts , & c ., a n d rem ain in g b o n d s fo r
5 0 % o f su ch cash c o s t , w h en n e t e a rn in gs fo r p re vio u s 12 m o s . shall h a v o
e q u a le d a t least tw ic e th e in t. ch a rg e , in clu d in g b o n d s p ro p o s e d t o b o issu ed.
B o n d s a re re d . o n a n y in t. d a t e a t 105 an d in t . C itiz e n s ’ S a v in gs & T r u s t
C o . , C le v e la n d , a n d B a n k e rs T r u s t C o . , N . Y . , trustees. V . 9 2 . p . 659.
R E P O R T .— F o r ca le n d a r y e a r; V . 9 8 , p . 522.
Calendar
Gross
N et
Other
I n t ., Taxes A Balan ce,
Y ear—
D arnin gs.
E a rn in g s. In co m e.
6 % D iv .
D eficit.
1913.......................... $ 7 ,1 4 9 ,7 8 9
$ 1 ,6 7 0 ,1 3 2 $ 4 0 ,9 7 7 $ 2 ,0 0 9 ,5 2 9
$ 2 9 8,41 9
1912..................
6 ,6 4 8 ,7 5 6 1 ,713,182 3 1 ,0 1 7
1,7 8 3 .1 3 4
3 8 ,9 3 5
D ividends.— F irst d iv .— 1 1 4 % — u n d er n ew fra n ch ise o r d in a n ce o f D e c .
1909 p a id A p ril 1910 a n d 1 H % q u a r. s in ce t o an d in c l. A p r . 1914.
R O A D .— .O perates o v e r 260 m iles o f t r a c k . M o s t ly 8 2 , 9 5 . 103 a n d
141 -lb. sta n d a rd ; 103 -lb. gird e r rails.
O F F I C E R S .— P r o s ., J . J . S ta n le y ; V .P s ., C . F . E m e r y a n d R . A . H a r­
m a n ; S e c . & T r e a s ., H . J . D a v ie s ; A s s t. T r e a s ., f f m . J . M e a d ; G e n . M g r ..
G . L . R a d c liffo ; A u d ., T h o s . P . K ilfo y le .— V . 93, p . 28 6 , 1190; V . 9 4 , p .
350; V . 95, p . 175, 236 , 48 0 , 749 , 968; V . 96, p. 62, 2 0 1 ,2 8 4 , 41 9 , 7 8 9 , 1228;
V . 9 7 , p . 3 6 4 , 1897; V . 9 8 , p . 7 3 , 155, 522 , 610 , 689 , 1315.

C L E V E L A N D S O U T H W E S T E R N & C O L U M B U S R Y . — A tr o lle y r o a d
In M a y 1913, s to ck h o ld e rs a n d O h io P . U . C o m m , a p p ro v e d a plan w h ich
p ro v id e s fo r : ( 1 ) a u th o riz in g $ 2 , 0 0 0 ,0 0 0 6 % cu m . p r e f. s to c k t o b o k n o w n
as 1st p r e f., presen t issu e to b e $ l , 500 ,0 0 0 ; d iv s . Q .-J . ( N o . l . J u l y 1 191 3).
R e d . o n a n y d iv . d a te , o r u p o n in v o lu n ta r y liq u id a tio n , a t 110 a n d d iv s .,
o r in c a s e o f m erger a t 105 a n d d iv . (2) T h o c la ssifica tio n o f th e present
>ref. s to c k as 2 d p r e f. (presen t p re f. t o b e e xch a n g ed fo r n e w 2 d p r e f.. share
I’o r sh are, th o h old ers o f presen t s to c k w a iv in g a ccu m u la te d d iv s .) a n d fix in g
th o d iv s . t o a ccu m u la te th ereon a t 4 % fo r 1914, 5 % fo r 1915 an d 6 % fo r
1916 a n d th e re a fte r.
(3) A u th o riz in g a m tg e . to C itiz e n s ’ S a v . & T r u s t
C o . , as trustee, to secu re an issu e o f $ 2 5 ,0 0 0 ,0 0 0 5 % b o n d s d a te d F o b . 1
1913, d u o F e b . 1 1943, in t. F . & A . , and au th o riz e th e issue o f $ 5 ,1 0 3 ,0 0 0
b o n d s th ereu n d er fo r th e p a y m e n t o f ce rta in o f th e b o n d e d an d flo a tin g
d e b t a n d t o re tire u n d e rly in g b o n d s . Seo V . 95, p . 1607; V . 9 6 , p . 94 7 ,
1296, 1556.
O R G A N I Z A T I O N .— In c o r p o r a te d in O h io o n M a r c h 4 1907 an d is a
co n s o lid a tio n o f th o C le v e la n d & Sou th w estern T r a c tio n C o . , th e C le v e la n d
A sh la n d & M a n s fie ld T r a c tio n C o . an d th e O h io C en tral T r a c tio n C o .
F or
term s o f oxch a n g o seo V . 8 3 , p . 1590. A ls o o w n s th o N o rw a lk G a s &
E le c tr ic C o .
In 1907 a cq u ire d $ 5 0 5 ,0 0 0 o f th e $(550,000 c o m m o n s t o c k o f
th o M a n s fie ld R a ilw a y , L ig h t & P o w e r C o . , a n d in N o v . 1912, It is s ta te d ,
h ad n e g o tia tio n s u n d e r w a y fo r th o p u rch a so o f a d d itio n a l s t o c k w hen th e
a p p o in tm e n t o f a r e ce iv e r fo r th a t c o m p a n y w as o rd e re d . See be lo w .
In J a n . 1913 th o E ly ria G ra fto n & S ou th ern R y . re d u ce d its c a p ita l s to c k
fro m $ 1 0 0 ,0 0 0 t o $ 1 ,0 0 0 , an d th o N o rw a lk G as & E le c . C o . fro m $ 1 2 5,00 0
to $ 1 ,2 5 0 . In M a r c h 1913 th o C le v e la n d S o u th w . & C o l. re d u ce d th o
a u th o riz e d a m o u n t o f co m m o n s to c k fro m $ 7 ,5 0 0 ,0 0 0 t o $ 4 ,2 3 6 ,0 0 0 .
STOCK AN D BON DS—
D a te. In terest.
O utstanding.
M a tu r ity .
C o m m o n $ 4 ,2 3 6 ,0 0 0 ( $ 1 0 0 ) ..........................................
$ 4 ,2 3 6 ,0 0 0 .......................
P r o f $ 2 ,5 0 0 ,0 0 0 5 % c u m ( $ 1 0 0 ) .................... ............
2 ,4 1 2 ,0 0 0 ____________
F irst gen eral co n s o l m o r tg a g e ! 1907 5 A -O
9 4 5 ,0 0 0 A p ril 1 1927
$ 1 0 ,0 0 0 ,0 0 0 ($ l,0 0 0 )g c * & r c p t j I n t . a t C le v e la n d T r . C o . , C le v e ., T r u s te o .
C le v e la n d & E ly ria fir s t m o r t-f 1895 6 M -N
2 0 0 ,0 0 0 M a y 1 1913
;age o n 18 m iles ($500) In te re st a t C itiz e n s ’ S av in gs & T r u s t C o . ,
S u b je c t t o c a ll_________ c p t
C le v e la n d , T r u s te e ,
E ly r ia & O b e rlin fir s t m o rt­
1897 6 F -A
100 ,000 A u g 1 1917
g a g e on 9 m iles ($500) g o ld In te re st a t C le v e la n d T r u s t C o . , T r u s te e .
S u b je c t to c a l l_________ c p t
C Io v B e r E ly r & O b erlin con s
1899 5 g M -S
127,000 M c h . 1 1919
M $ 5 0 0 ,0 0 0 g ($ 1 ,0 0 0 e a c h ); In te re st a t C le v e la n d T r u s t C o . , T ru ste e .
S u b je c t to c a l l _________ c p t /
C le v e la n d E ly r ia & W estern ' 1900 5 g F -A
1 ,073,000 A u g . 1 1920
fir s t m o rtg a g o $ 1 ,5 0 0 ,0 0 0 I n t . a t C le v e . T r . C o . , C le v e ., T r u s te e , o r at
( $ 1 ,0 0 0 ) g o l d _______ c & r c p t
N a t . B a n k o f C o m m e r c e in N . Y . , M a y b e
ca lled a t 1 0 0 .
E ly„ r ia G ra fto n & Sou th ern , 1902 5 g J -J
100 ,000 J a n . 1 1922
R y firs t m o r tg a g o g u a r -jI n t e r e s t a t C le v e la n d T r u s t C o . , C le v e la n d ,
a n tc e d b y C E & W ($ 1 0 0 .T r u s te o , a n d T r u s t C o . o f A m e r ic a , N . Y . .
000 ($ 1 ,0 0 0 ) g o ld -------c * c p t l
C a n b o ca lled a t p a r.
N o rw a lk G as & E le c tr ic f ir s t / 1900
6 A -O
110,000 A p ril 1 1920
m tg e , $11 0 ,0 0 0 ($ 5 0 0 ), g . { l n t . a t-G u a rd ia n S. & T r . C o .. C le v e la n d .
S u b je c t t o c a l l -------------c p t l
T r u s te e , o r C h ase N a tio n a l B a n k , N . Y .
C le v e la n d & S o u th w e s te r n / 1903
5 g F -A
$ 1 ,4 0 0 ,0 0 0 F e b 1 1923
firs t a n d co n so l m o r t g a g e /I n t . a t G u a rd ia n S a v . & T r . C o . , C le v e la n d ,
$ 3 ,0 0 0 ,0 0 0 ($ l ,0 0 0 ) g c & r c p t ( T r u s te e , o r E q u ita b le T r u s t C o . , N . Y .
O h io C T r a c fir s t m o r tg a g e ! 1899
5 g J -D
150,000 Ju n e 1 1919
S 1 5 0 ,0 0 0 ($ l ,0 0 0 ),g o ld c * n t f | I n t . N . H a v e n T r . C o . , N . H a v ., C o n n ., T r .
O h io C e n tra l T r a c tio n c o n s o l - [ 1903
5 g M -S
250 ,0 0 0 M a r 1 1923
id a to d m o r tg a g o $ 4 0 0 ,0 0 0 {I n t . a t’ C le v e . T r . C o ., C le v e la n d , T r u s te e , or
($ 5 0 0 ), g o l d -------------- c * c p t (
a t N a tio n a l B a n k o f C o m m e r c e , N . Y .
Bonds.— O f th o $ 1 0 ,0 0 0 ,0 0 0 new b o n d s, $ 3 ,5 1 0 ,0 0 0 are reserved fo r prior
liens an d $ 5 ,5 4 5 ,0 0 0 fo r exten sion s, im p ro v e m e n ts , & c. T h o y are s u b ­
je c t t o ca ll a fte r 10 years a t 105 an d a ccru e d interest. T h o C le v e la n d
& South w estern b o n d s o f 1903 are s u b j. t o ca ll on a n d a fte r F e b . 1 1913 at
105 an d in t. $ 1 ,6 0 0 ,0 0 0 o f this issue are reserved t o retiro ce rta in u nd er­
ly in g b o n d s.

38

ELECTRIC RAILWAYS

O f th e C le v e la n d B ere a E ly r ia ft O berlin 5s d a te d M a r c h 1 1899, $30 0,00 0
rem ain in reservo fo r the retirem en t at o r b e fo ro m a tu r ity o f th e division al
6 s t o a lik e a m o u n t.
O f the $ 1 ,5 0 0 ,0 0 0 C le v e la n d E ly r ia & W estern now
5s, $42 7 ,0 0 0 aro reserved to retire p rio r liens. T h e O h io C e n tra l T r a c . C o .
c o n s o l, b o n d s m a y b o c a lle d u p o n 30 d a y s ’ n o tlco a t 105 a n d In t.; $15 0,00 0
o f c o n s o ls, are reserved to rotire a like a m o u n t o f firs t 5s. F irst m o rtg a ge
w as o rig in a lly $ 2 0 0,00 0 a u th o riz e d , b u t $ 5 0 ,0 0 0 c a n ce le d su b s e q u e n tly .
E A R N I N G S .— F o r ca le n d a r ye a rs ( V . 9 8 , p . 9 1 1 ):
_
,
Y ea r—
Gross.
N et.
Other I n c . I n t. A T a xes.
Surplus.
1 9 1 3 ............... $ 1 ,2 5 5 ,2 3 6
$ 1 9 5,84 9
$217
$ 3 8 2 ,1 4 8
£ 1 1 3,91 8
1 9 1 2 ............... $ 1 ,1 8 2 ,0 2 2
$48 8 ,5 9 2
$ 1 ,2 1 0
$3 7 3 ,1 1 3
$11 6,68 9
R O A D .— O perates 209 m iles o f tra ck ( o f w h ich 132 m iles are on p rivate
rig h t o f w a y ) in an d fro m C le v e la n d t o B e re a , E ly r ia , O b e rlin , N o rw a lk ,
M e d in a , W e llin g to n , N o r t h A m h e r s t, L o r a in , C r e s to n , C h ip p e w a L a k e,
S ev ille, W o o s te r, L in n d a lc, P u ritas S prin gs, G a llo n , B u cy ru s , M a n sfie ld
a n d A s h la n d . 60 an d 7 0 -lb . rails. S ta n d a rd g a u g o . O p erates 70 cars.
A ls o d o e s freig h t an d express bu sin ess. C o m p a n y o w n s I u n ta s Springs
a n d S eccaiu m P a rk and reaches C h ip p e w a L a k e . A ls o ow n s a n d operates
e lectric-lig h tin g pla n t in N o rw a lk .
O F F I C E R S .— P r e s ., F . E . M y e r s ; 1st V . - P . , F . H . G in n ; 2 d V , - P . , L . J .
W o lf; G e n . M g r ., E . F . S ch n eider; S e c. ft T r e a s ., J . O . W ilson ; A u d i­
to r , II. B . C a v a n a u g h . G eneral o ffic e , C le v e la n d ;— V . 8 4 , p . 569 , 748 , 995,
1113; V . 85, p . 283; V. 8 8 . p . 294 , 504; V . 9 0 , p . 913; V . 92, p . 260; V . 94.
p . 982; V . 9 5 , p . 1607; V . 9 6 , p . 947 , 1296, 1556; V 9 8 , p . 4 5 2 , 911.
(1) M a n s f ie ld R a il w a y , L i g h t & P o w e r C o .— A tro llo y ro a d .
In 1907 c o n tr o l p assed t o th e C le v . S o u th w e ste rn & C o lu m b u s R y . C o .
R eceivership.— O n N o v . 25 1912 J u d g e E d w in M a n s fie ld o f th e C o m m o n
P leas C o u rt ord ered th o d isso lu tio n o f th e c o m p a n y , th e a p p o in tm e n t o f a
receiver a n d th o sale o f th o p r o p e r ty . S . N . F o r d w as a p p o in te d receiver
O n D e c . 30 1912. A p p lic a tio n w as m a d e b y several h old ers o f p r e f. s to c k
w h o o b je c te d t o fu rth er p u r c h . o f c o m . s to c k b y C . S. W . & C . R y . a n d w h o
a lleg ed th a t th e p r o p e r ty w as b ein g h a n d le d in th e interests o f th a t c o m p a n y .
N o d i v s . o n p ref. s t o c k h a v e be e n p aid sin ce 1907. V . 95. p . 1542; V . 96, p.63.
O R G A N I Z A T I O N .— S u ccessor in A p ril 1903 t o th e C itize n s ’ E le c tr ic
R a ilw a y , L ig h t & P ow e r C o . , w h ich in turn w as su ccessor to th e M a n s fie ld
E le c tr ic S treet R y . O w ns en tiro street ra ilw a y a n d e le ctric-lig h t syste m s
in th o c it y . C it y fra n ch ise runs till 1925.
S T O C K A N D B O N D S — • D a te.
In terest. Outstanding.
M a tu rity .
C o m m o n , $ 6 5 0,00 0 ($ 1 0 0 ).......................................
$ 6 5 0,00 0 .................... P r e f, $3 5 0 ,0 0 0 ($ 1 0 0 ), 6 % cu m
...........................
3 5 0 ,0 0 0
1 9 0 7 ,6 %
C itize n s ’ first m tg o ($400,-1 1901
5
2 0 0 ,0 0 0 A p ril 1 1923
000) ($500)
........................./ In terest a t C le v e la n d T r u s t C o ., C lo v e ., T r .
M a n s R y L t & P g e n m t g o $1,-1 1903
5 g A -O
7 4 2 ,0 0 0 A p ril 1 1918
0 0 0 ,0 0 0 ($500 & $ 1 ,0 0 0 )- c * j U n io n S a v . B k . & T r . C o ., C in ., T r u s te e .
Bonds.— In terest o n th o now b o n d s o f th e M a n s fie ld R a ilw a y L ig h t &
P o w e r C o . is p a y a b le a t U n io n S av in gs B a n k & T r u s t C o . , C in cin n a ti.
$ 2 0 0 ,0 0 0 o f tho new b o n d s aro reserved t o retire th e b o n d s o f the o ld C iti­
z en s ’ C o m p a n y an d $ 5 8 ,0 0 0 fo r fu tu re acqu isition s a n d im p ro v e m e n ts.
A reserve fu n d o f $ 1 0 ,0 0 0 per a n n u m is m a in ta in e d , t o bo used fo r exten s.
a n d im p ts . N o t s u b je c t t o c a ll. See V . 7 6 , p . 81 0 .
E a rn in g s.— F o r c a l. y e a r 1913, gro ss, $23 9 ,4 0 6 ; n e t, a fte r ta xes, $ 57 ,567 ;
b o n d in t ., $ 4 7 ,1 0 0 ; su rp lu s, $ 1 0 ,4 6 7 . In 1912, gross, $23 1 ,1 7 9 ; n e t , a fter
ta x es, $80 ,4 1 2 ; b o n d in t ., $47 ,1 0 0 ; su rp lu s, $ 3 3 ,3 1 2 .
R O A D .— O w ns a n d op erates 9 m iles o f track in M a n s fie ld an d an inter­
u rb a n lino o f 12 m iles t o S h e lb y; 60 an d 7 0 -lb . T rail. 40 ca rs .— V . 7 8 , p .
2 44 2; V . 8 3 , p . 1291; V . 8 5 , p . 284; V . 9 5 . p . 1542; V . 0 6 , p . 63.

[Vol . XCVIII

E A R N I N G S .— F o r calen d ar ye a r 1913, g ro ss, $ 2 0 3 ,8 1 6 ; n o t , a fte r ta x e s ,
$ 7 5 ,0 0 4 ; in t ., $ 3 8 ,1 6 0 ; su rp lu s, $ 3 6 ,8 4 4 . In 191 2, g r o s s , $ 1 9 5 ,2 2 6 ; n e t,
$ 7 5 ,6 2 9 ; ch a rge s, $ 4 7 ,6 8 4 ; su rp lu s, $ 2 7 ,9 4 5 .
R O A D .— O perates 40 m iles o f tra ck fro m C le v e la n d t o C h a r d o n , B u rton
a n d M id d le fie ld , O h io . S tan d ard ga u g e. 6 0 -lb . T rails, l ia s a b a n d o n e d
p o w e r plan t an d pu rchases p o w e r fro m C le v e la n d E le c tr ic Iliu m . C o .
O F F I C E R S .— P r e s ., I I . P . M c In to s h ; V .- P ., C la rk F o r d ; S ec. and
G e n . M g r ., R o b t . D . B e a tty ; T r e a s ., C . A . T a y lo r . O ffic e , 701 E le c tr ic
B ld g ., C le v e la n d , O .— V . 9 1 , p . 154. 336 .
CLEVELAN D YO U N G STO W N & EASTERN R Y . CO .
O R G A N I Z A T I O N .— In c o r p o r a te d in O h io on Ju n o 1 1906
On M a r. 1
1910 a cq u ire d th e C le v e . & C h agrin F alls R y . (in c o r p o r a te d F e b . 18 1910
t o ta k e o ver the C le v . & C h a g . D iv . o f th e E a s t. O h io T r a c .. sold F e b . 5 T O ).
STOCK A N D BO N DS—
D a te.
Interest. Outstanding.
M a tu r ity •
S t o c k , $ 1 5 2,50 0 ( $ 1 0 0 )..........................................$ 1 5 2,50 0 ....................................... ..
C le v & C h Falls 1st M $ 3 0 0 ,- ( 1910
6 g J-J
251 ,900 Jan
1 1930
000 g ($100 & S 5 0 0 ) ___ c * \ I n t . a t G u ard ian S a v . ft T r . C o ., C le v .. T ru s.
6 g J-J
,£ 2 .0 0 0 Ja p
l , 1915
C lo v Y & E R y m t g $ 5 2 ,0 0 0 / 1910
g o ld ($ 1 ,0 0 0 ) see t e x t .. - C * l I n t. a t C itize n s S a v . & I r . C o . , C lo v ..T r u s .
Bonds.— C le v . & C h a g . F alls b o n d s s u b j. t o call a n y o r a on a n y in t.
d a te at 102 H an d in t.; $ 4 8 ,1 0 0 are in tre a su ry. O . Y . & E R y b on d s
s u b j. to ca ll, a n y or all, a t p a r an d in t. T h e y are 1st M . on line betw een
C h agrin Falls an d G a rre tts v illo an d 2 d m t g o . on lino b etw een C le vela n d
an d C h agrin F a lls.
...
.
.
E A R N I N G S .— F or ca le n d a r y e a r 191 3, g ro ss, $ 1 1 5 ,6 5 9 ; n e t , a fte r ta x es,
$ 2 ',1 1 8 ; i n t ., $18 ,2 3 4 ; su rp lu s, $ 1 0 ,9 5 4 .
In 1912, g r o s s , $11 1 ,4 4 2 ; n e t ,
$ 3 4 ,4 8 9 : c h a rg e s, $ 23 ,706 ; su rp lu s, $ 1 0 ,7 8 3 .
,
. „ ,,
,
R O A D .— O perates 37 m iles o f lin e b etw een C le v e la n d , C h a grin F a lls an d
G a rrettsvillo
S tan d ard g a u g e . 6 0 an d 7 0 -lb . T rail.
O F F I C E R S — P r e s ., I I . P . M c In to s h ; V .- P ., H . C la rk F o r d ; S e c . & M g r .,
R o b t . D . B e a tty ; T r e a s ., C . A T a y lo r .

LAKE SHORE ELECTRIC R Y .— (See M a p on page 39.)
O R G A N I Z A T I O N .— T h e L a k e Shore E le c tr ic R y . w as in c o rp o ra te d on
S e p t. 25 1901 u nd er law s o f O h io as a c o n s o lid a tio n o f th e L o ra in & C le v e ­
lan d R y ., th o S an d u sk y ft In teru rban R y ., th o S a n d u sk y N o rw a lk ft S o u th ­
ern R y . and th e T o le d o F re m o n t & N o rw a lk R R .
V . 7 3 . p 78 4 . A b o u t
h a lf th o ro a d is b u ilt o n p r iv a te r ig h t-o f-w a y ; fra n ch ises fo r th o rem ain ing
halt! w ere in 1908 sta te d t o h a v e an a v e ra g e life o f 15 y e a rs. C o m p a n y has
t r a ffic agreem en t b y w h ich It enters th o cities o f C le v e la n d a n d T o le d o
o v e r th e tra ck s o f th o lo ca l stre e t railw ay s y s te m s. In Ju n o 1911, th rou gh
s e rv ice w as in a u gu ra te d b etw een C le v e la n d an d L im a v ia S an d u sk y an d
F r e m o n t, a d is ta n c e o f 165 m ile s . A ls o th ro u gh se r v ic e be tw e e n C lev ela n d
a n d D e tr o it, 180 m iles.
C o n tro ls th e L o ra in S tre e t R R . an d th e S a n d u sk y F re m o n t & S ou th ern
R y ., w h ich see b e lo w .
In 1907 m a d e c o n tr a c t to s u p p ly p o w e r t o th e
T o le d o F in d la y & F o s to ria an d several o th e r ro a d s.
V . 8 5 , p . 1646.
In 1910 ch arter w as a m en d ed s o as t o tran sform th e then existing 5 %
cu m . p re f. s to c k o f $ 3 , 0 0 0 ,0 0 0 in to $ 1 ,0 0 0 ,0 0 0 6 % c u m . 1 st p re f. and $ 2 ,­
0 0 0 ,0 0 0 5 % n o n -c u m . 2d p re f. s t o c k ; V. 90. p . 698 . A t th o sa m e tim e
a ccu m u la te d d iv id e n d s on th e o ld p r e f. s to c k (p a rt o f w h ich had been
issued later th an th e rest) w ere a d ju s te d . V . 90, p . 1170, 1296; V . 9 1 , p .7 9 0 .
D u rin g 1912 a c o n tr a c t w as m a d o fo r th e pu rch ase o f th o en tire o u tp u t
o f th e S an d u sk y R iv e r P o w e r C o . , w h ic h is installing near th e F rem on t
p la n t a h y d r o -e le ctr ic p la n t o f 4 ,9 5 0 k . w . c a p a c ity .
O n J u ly 27 1912 O h io U tilities C o m m . a u th . c o m p a n y to sell $ 1 1 6,00 0
a d d itio n a l g e n . m tg e . b o n d s .
V . 9 5 , p . 297 .
I h ese h a v o been issued an d
aro h eld In tre a su ry.
STOCK AN D BO N D S—
D a te.
In terest. O utstanding.
M a tu r ity .
CLEVELAND PAINESVILLE & EASTERN RR —
C o m m o n , $ 4 ,5 0 0 ,0 0 0 (par $ 1 0 0 )------^ 0 0 .0 0 0 AV V . i Y i I 7
O R G A N I Z A T I O N , & c.— In c o r p o r a te d in O h io o n A p ril 25 1895. R o a d
Q -J
o ’ nnrVnon
m l4
1 st p f $ l , 0 0 0 ,0 0 0 (3 1 0 0 )6 % c u m ------c o m p le te d in J u ly 1908. F ranchises expiro fro m 1920 t o 1935. In Juno 2 d p f $ 2 ,0 0 0 ,0 0 0 ($ 1 0 0 )5 % n - c - - - - ? ’ c 2 n ’ nnn ? ° d iV & 6a-i
First, pons mtcro
000 .0 0 0 f 1903
o S «J—
J
l»u90*00u Jo«n 1 19<-3
1906 a cq u ired c o n tr o l o f th e C lo v . P a ln e sv. & A s h . R R . V .8 2 , p .1 3 2 2 , 1379
(SI 000) g o ld '
'
c* tf| I n t. a t C itiz e n s ’ S a v . & T r . C o . , C le v e la n d .
STO C K A N D BON DS—
D a te.
Interest. O utstanding.
M a tu rity
)
T r u s te e , o r T r u s t C o . , o f A m e r ic a , N . Y .
( $ i ,u u u ; , g o a -------------$ 2 ,5 0 0 ,0 0 0
S t o c k , $ 3 ,5 0 0 ,0 0 0 (par $ 1 0 0 ) . . ................................
1903
5 g F -A
2 ,2 5 5 ,0 0 0 F e b 1 1933
m tg o ,
$ 7 ,0 0 0 ,0 0 0 /' 1903
F irst m o rtg a g e ,
$ 5 0 0 ,0 0 0 , ( 1 8 9 6
5 g A -O
_ 5 00 ,000 A p ril 1 1916 G eneral
g o ld ( $ 1 , 0 0 0 e a c h ) . c * . c p t In terest a t M o r to n T r u s t C o .,
( $ 1 ,0 0 0 ) , g o ld ............... c * t t I“n t . "a t C itiz e n s ’ S a v . f t T r . C o . , C le v e la n d ,
T r u s te o , o r c o m p a n y ’s a g e n c y In N . Y .
C le v e la n d T r u s t C o ., C le v ., T ru stee.
1897
5 g J -J
7 5 0 ,0 0 0 J u ly 1 1927
1898
5 A -O
1 ,131,000 O ct 1 1918 L orain & C le v e la n d 1st, g o ld
C o n s o l, m o r t. (clo s e d ) $ 1 ,­
( $ 1 ,0 0 0 ) , $ 1 ,0 0 0 ,0 0 0 -------t f In te re s t a t C itiz e n s ’ S a v . ft T r u s t C o . ,
631 ,0 0 0 ($ 1 ,0 0 0 ), g o l d .c p t I n t . a t C itiz e n s ’ S a v . & T r . C o ., C le v o .,
C le v e la n d , or c o m p a n y ’s a g e n c y in N . Y .
T r u s te e , o r T r u s t C o . o f A m e r ic a , N . Y .
1920
N 1st
SII , 500
000 g
5 g J-J
1 ,500,000 Jan
1 19:
1908
5 g M -N
717 ,0 0 0 M a y 1 1948 T F & N
R e f an d exten sion m tg e , $ 5 ,­
1st M
M S
5 00 ,000
g f 1900
($500 $ 1 0 0 0 )
c * t f l l n t : a t U n io n T r u s t C o ., D e tr o it , T ru stee.
0 0 0 , 0 0 0 , g o l d ( $ l , 0 0 0 ) c * c p t I n t. a t C le v e l T r u s t C o . , C le v e la n d , T ru ste e ,
l o r c o m p a n y s a g e n cy in N o w Y o r k .
(.— O f th e $4 ,0 0 0 ",0 0 0 first co n s o ls, $ 2 , 2 5 0 ,0 0 0 are reserved t o retire
f o’onds.Bon ds.— $50 0 ,0 0 0 co n s o ls aro reserved t o retire u n d e rly in g liens. I t is p rio r liens; $ 6 0 ,0 0 0 h a v o been ca n ce le d ; $ 4 ,0 0 0 ,0 0 0 o f th o general m ortg a g e
p ro v id e d in new refu n d in g an d e xten sion m o r tg a g e th a t rem ain in g con sols 5 per cen ts are reserved to retire th o fir s t c o n s o ls in d $ 7 4 o ,0 0 0 ( o f w h ich
ca n n o t b o issu ed . T h e m tg e . w as clo se d a t $ 1 ,6 3 1 ,0 0 0 .
I t w as orig in a lly $17 9,00 0 h a v e been c e r tifie d b y th e trustee an d arei in treasu ry) fo r exten ­
a $ 2 ,0 0 0 ,0 0 0 m t g o ., b u t th e b a la n ce w as c a n ce le d . O f th e refu n d in g and sio n s and im p ts. at 8 0 % o f c o s t . N e ith e r issuo is ^ i b j . to c a ll. A s in lm o
exten sion b o n d s, $ 7 5 ,0 0 0 are in treasu ry, $ 1 ,6 3 1 ,0 0 0 are reserved t o retiro fu n d retiring 3 10 ,000 o f first c o n so ls per an n u m co m m e n ce d J a n . 1 1909 and
u n s until 1914. F rom 1920 to 1922, in c L , $ 3 0 ,0 0 0 b o n d s per ann um are to
p rior liens, an d $ 2 ,5 7 7 ,0 0 0 aro reserved fo r fu tu re extensions an d im p ro v e ­
m en ts, t o b e issued o n ly w hen n e t earnings fo r precedin g 1 2 m o n th s h a ve b e ca n ce le d . T h o L . & C . b o n d s can b o c a lle d a fte r J u ly l *9 17 at par and
been n o t less th a n 2 5 % in excess o f in terest charges o n o u tsta n d in g b o n d s in t. T h o T . F . & N . b o n d s can b o called a t 110 a n d ta t. on a n y Int- d a te
In clu din g th oso t o b o issu ed. S u b je c t t o ca ll M a y 1 1938 or on a n y Interest u p o n 90 d a y s ’ n o tice . A sin kin g fu n d o n th e T . 1 . & N ? , } 9 (P,0.0
per ann um co m m e n ce d in 1905 an d runs t o 1909 , tael J j o m lO lO t o 1914,
d a te th erea fter a t par an d interest o n 30 d a y s n o tice .
R O A D .— O w ns roa d fro m E u c lid , O h io , t o P a in esvillo an d F a irp o rt. $ 20 ,000 per a n n .; 1915 t o 1919, $ 3 0 ,0 0 0 p er a n n .; $ 1 5 6 ,0 0 0 b o n d s aro held In
2 4 .0 2 m iles ( “ M a in L in e ” ) , an d uses C le v e la n d E le c tr ic R y . fro m E u clid
to P u b lic S qu are, C le v e la n d , 10 m iles; also o w n s “ Sh ore L in e ," exten din g SltlS - ' T h e T F ft N . b o n d s aro a firs t lien on th e d iv is io n b etw ee
fro m W illo u g h b y t o G le n v ille , O h io , 14.89 m iles, an d uses th e C levela n d T o le d o and N o rw a lk ; th o L . f t C . b o n d s aro a first lien on V,1? r ° a d betw een
E le c tr ic R a ilw a y C o . ’s track fro m G le n v ille to th o P u b lic S qu are, C le ve la n d , C le v e la n d an d L orain ; an d th o 1st co n s o L b o n d s a first lien o n all oth er
lm n .
5 m iles. T o t a l tra ck o p e ra te d (in clu d in g 4 H m iles o f d o u b le ), 4 6 H m iles. lines and also a s e co n d m tg e . o n th e £ lvi),i1</ nc3
D ividends.— In itial d iv . o n 1 s t p r e f., 1H % • Pa id 0 c t - l 1910, sam e
W ith th o C le v e . P a ln e s v . & A s h ta b u la fo rm s a co n tin u o u s lino fro m C le v e ­
land to A s h ta b u la . 46 m o t o r cars an d 8 o th e r cars. P o w e r-h o u se is at a m o u n t q u a rte rly sin ce t o and Inclu din g A p r . u h R E P O R T .— F o r years e n d in g D e c . 31 ta o t tael. L orain S treet R R . nor
P a in esvillo. C a r-h ou se s a t W illo u g h b y , P a in esvillo and N o ttin g h a m .
S an dusky F re m o n t ft Sou th ern R y .
S ^ r e p o r t in V . 9 8 , P ^ 6 0 4 ^
R E P O R T .— F o r yea rs en din g D e c . 31:
N et (after
Balance
Calendar
Gross
Operating
N et
Interest
In c o m e.
Interest.
1st P r e f. Surplus.
Taxes) .
Year—
Gross.
Surplus
Year—
E a rn in g s.
E xp en ses.
E a rn in g s.
and T axes.
$
2 5 ,0 0 0 $32 4 ,6 9 6 $ 6 0 ,0 0 0 $89,011
$44 8 ,7 0 7
1 ,1 1 9 ,3 1 2
$ 6 3 ,9 4 2 1913...............$
1 9 1 3 ..................$ 4 2 5,92 4
$ 2 0 9,73 6
$21 6 ,1 8 8
$15 2,24 6
__________
_______
2 5 ,0 0 0
322 ,701
6 0 ,000
89,754
_ 1,052,518
447
,4
5
5
191
2________
58,1 7 5
205 ,2 2 6
196,962
138,787
1 9 1 2 .................. 4 0 2 ,1 8 8
R O A D __ O nerates 172 m iles, ex te n d in g fro m C le v e la n d t o T o le d o and
O F F I C E R S .— P r e s ., E . W . M o o r e ; V . - P . , I I . A . E v e r e tt; V .- P . ft, G en
S
in
.h
isk
v
'
an
d
0
from
S
an
d
u
sk
v
t
o
N
o
rw
a
lk
;
also
c
it
y
linos
in
San
du sky;
M g r ., J . J o rd a n ; T r e a s ., E . V . Ila le ; S e c ., F r e d . S. B o r t o n ; A s s t. S e c. an d
T h ro u g h lino fro m C lo v . to T o le d o was
T r e a s ., J oh n P . W itt , C le v e la n d , O h io .— V . 8 8 , p . 37 4 , 1313, 1615; V . 90, stan dard gauge- 70 t o 1 0 M b . rails
■■'> achilition ow ns th e S an du sk y
p . 621; V . 9 2 . p . 26 0 , 391; V . 9 3 , p . 1785; V . 9 4 , p . 6 9 2 ; V . 9 6 , p . 3 5 9 , 553; o p e n e d fo r business a b o u t A u g . 26 1902.
F re m o n t ft S o u th e r n , 20 m iles, an d th ® k o r a t a Street R R ., i 24.77’ m iles,
V . 9 8 , p . 522 , 1315.
m ak in g a total o f 216 .77 m iles. 72 p assenger, 5 b a g g a g o , 17 w ork and 47
(1) C le v e la n d P a in e s v i l lc & A s h t a b u l a R R .— A tro lle y r o a d . E n ­ freigh t cars. T o t a l , 141.
.
. „
tirely o v e r p riv a to rig h t o f w a y , e x ce p t th rou gh s o m o o f th e v illa g e s, w hero
O F F I C E R S .— P re s., E . W . M o o r e , C le v e la n d an d N . Y ; V . - P ’s ., H . A .
fra n c h is e s expire in 1927.
E v e re tt an d \V H P rice C le v e la n d ; V . - P . an d G e n . M g r ., F . IV . C o e n ,
O R G A N I Z A T I O N .— In c o r p o r a te d in O h io in 1902.
S an d u sk y, O .; S e c. & T r e a s ., J n o . P . W R t . C io v e la n d .— V . 91. p . 790: V .9 2 .
p . 262 , 457; V . 9 4 , p . 413 ; V . 9 5 , p . 297; V . 9 6 , P- 3 6 0 , 550; V . 9 8 , p .3 8 7 , 604.
STO C K A N D BON DS—
D a te.
Interest. Outstanding.
M a tu rity
S t o c k , $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )........ .....................................
$ 1 ,0 0 0 ,0 0 0 ......................
(1) L o r a in S t r e e t R a il r o a d C o .— A tro lle y r o a d .
F irst m ortg a g o $1,000.000 1 1902
5 g J-J
9 90 ,000 J u ly 1 1922
O R G A N I Z A T I O N — In c o r p o r a te d in O h io on A u g . 3 1906 and is a c o n ­
g o ld ($ 1 ,0 0 0 )_______c * . c p t j l n t . a t C le v e la n d T r u s t C o ., C lo v e ., T ru steo
Bon ds.— $14 0 ,0 0 0 b o n d s are in tre a su ry. N o sinking fu n d an d b o n d s so lida tion o f th e L orain S t. R a ilw a y an d th e A v o n B e a ch & Southernr R R .
E n tiro s to c k and $ 5 0 0,00 0 now con sols ownedi b y th e L a k e S hore E le c . R y .
c a n n o t b e ca lled . Seo V . 75, p . 549 .
O perates on p r iv a to r ig h t-o f-w a y o x c e p t th ree m iles in L orain an d E ly r ia ,
R E P O R T .— F o r years e n d in g D e c . 31:
o n w h ich franchises ru n u n til 1919.
Y ears—
G ross.
N et.
In t. & T a xes.
Balance.
S T O C K ft B O N D S — P a r. D a te.
In terest.
Outstanding. M a tu r ity .
1 9 1 3 ...................... .................. $14 3 ,1 0 6
$ 4 2 ,5 5 9
$67 ,912
d e f.$ 2 5 ,3 5 3
1 9 1 2 ............... .......................... 145,768
S to ck $2 000 000
$ 1 0 0 ------3 9 ,5 1 6
6 6 ,7 5 2
d e f.2 7 ,2 3 6
------------$ 2 ,0 0 0 ,0 0 0 ______
L o r S t R y . ’ 1st ' M j 1,000 1894
6 J-J
200 ,000 Jan 1 1915
R O A D .— O perates a b t . 30 m iles tra ck b e tw e e n P a in e s v ille a n d A sh ta b u la
3 2 0 0,00 0
t f (In te re s t at G u ardian T r u s t C o ., C le v e la n d , T ru stee.
P u t in fu ll op era tion on J u ly 30 1901. 7 0 -lb . T and girder rail u sed. T r a c k
5 8 M -N
650,000 N o v 1 1949
stan d ard ga u g e. C on n e cts at P a in esvillo w ith th e C levela n d P a in esville & L o r St R y c o n M , $750,-1 1,000 1899
000, g, $ l , 0 0 0 - c * - t f ( l n t e r e s t a t G u a ra n ty Trust C o ., N . Y . . T ru s te e .
E a stern R I t . an d a t A sh ta b u la w ith th o P en n sylva n ia ft O h io R y .— V . 82
F irst con sol m tg o , $ 2 , - [ 1,000 1999„ . , , ° g
,
500 ,000 J u ly 1 1936
p . 1332, 1379; V . 8 6 , p . 337; V . 8 8 , p . 374; V . 9 2 , p . 322; V . 9 8 , p . 386
0 00 ,000 , g o ld , gu ar In te re st at C itizen s Savings & T r u s t C o ., C lo v o c * t f I la n d , T r u s te o , o r A g e n c y In N o w Y o r k .
C L E V E L A N D & E A S T E R N T R A C T I O N C O .— A tro llo y r o a d .
Bonds.— O f th e $ 2 ,0 0 0 ,0 0 0 n ow b o n d s , $75 0,00 0 aro reserved fo r prior
O R G A N I Z A T I O N .— In c o r p o r a te d in O h io on M a y 18 1910 t o su cce e d liens and $ 7 5 0,00 0 fo r exten sion s, & c.
I h o y aro g u a r ., p rin . an d In t., b y
th e C levela n d & E astern divisio n ( V . 90, p . 1613) o f th e E astern O h io T r a c ­ en dorsem ent b y th o L a k e S h o ro E le c tr ic R y .
tion C o . p e r plan In V . 8 9 , p . 1511. 1596.
R E P O R T .— F o r ca le n d a r years ( V . 9 8 , p . 6 0 4 ):
In 1913 ap p lied t o O h io S ta te U tilities C o m m , fo r p erm ission t o Issuo $54 .
Gross
E xp en ses and
A et
In terest
B alance,
000 1st M . b o n d s , $ 3 2 ,4 0 0 p re f. an d $ 2 7 ,0 0 0 c o m . s t o c k fo r im p ts. ( V . 9 6 , p. Calendar
Year—
In co m e.
T axes.
E a rn in g s.
P a id .
Su r. or D e f.
1 2 9 6 ), b o n d s t o b e sold a t 80 an d t o b o a c c o m p a n ie d b y 6 0 % in p re f. s to ck
1913.............. $ 1 9 6 ,9 4 8
$11 8 ,2 1 7
$78 ,731
$ 6 4 ,5 0 0
su r.$ 14,231
an d 5 0 % in c o m m o n . P e rm ission w as n o t g ra n te d .
1912............... 179,249
105,624
7 3 ,625
6 4 ,5 0 0
su r. 9 ,1 2 5
STOCK A N D BO N DS—
D a te.
In terest. Outstanding.
M a tu rity
R O A D .— O perates 24 .7 7 m iles o f track b etw een E ly r ia , L orain and
C o m m o n , $ 6 0 0,00 0 ($ 1 0 0 )............................................
$38 1,60 0
B e a ch P a rk . S tan d ard g a u g o . 24 cars.
P r e f, $50 0 ,0 0 0 , 5 % n -c ($ 1 0 0 )------------------465 .8 6 5
__________
F irst m ortg a g o, $ 1 ,0 0 0 ,0 0 0 ,/ 1910
5 g J-J
764 ,0 0 0 J u ly 1 1 9 3 0
(2) T h e S a n d u s k y F r e m o n t & S o u t h e r n R y .
g o ld ($ 1 ,0 0 0 )____________ c * ( I n t . at G u ardian S a v . ft T r . C o ., C le v ., Trus.
O R G A N I Z A T I O N .— In co rp o ra te d • In O h io In A p ril 1906. Is o p era ted
Bonds.— R em a in in g b o n d s reserved fo r exten sion s, & c. B o n d s su b je ct
to ca ll, a n y or all, on any in t. d a y , a t 103 and in t.; began to draw in t. from as p a rt o f m ain line o f L a k o S h ore E le c tr ic R y . be tw e e n C le ve la n d and
T o le d o . L a k e S hore E le c . R y . ow n s en tiro s t o c k . P r iv a to rig h t o f w a y .
and a fter Ja n . 1 1912. V . 9 1 , p . 336 .




May, 1014.)

ELECTRIC RAILWAYS

ST O C K L A N D B O N D S —
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Stock, $ 2 ,0 0 0 ,0 0 0 _____________ — Ownedjby the Lake Shore Electric R y .—
First mortgage, $2,000,000,1 1906
5 g J-J
$645,000 July 1 1936
gold ($1 ,0 0 0 ), guar___ c * t f { I n t . at Citizens Sav. & Trust C o ., C leve.,
\ Trustee, or at Agency in New Y ork.
B onds.— Are guaranteed, prin. and in t., by endorsement, by the Lake
Shore Elec. Ity .; not subject to call. See V . 8 3 , p. 1099.
R E P O R T .— For calendar years (V . 9 8 , p. 6041:
C a lend ar
Gross
Expenses a n d
Net
In te re s t
B a lance ,
Y e ar—In c o m e .
Taxes.
E a rn in g s .
P a id .
D e fic it.
1913________ $ 75,724
$ 48,676
$27,048
$32,500
$5,202
70,116
44,1 3 3
25,983
32,250
6,267
1912________
R O A D .— Operates a line from Sandusky to Frem ont, 20 miles. 14 cars.
— V . 83, p . 9 7 , 1099.
________
_
________

CLINTON, IOWA.
C L IN T O N S T R E E T R Y .— Operates 15 miles o f track In cityfof C linton.
M ain line f r a n c h i s e perpetual; others limited to 25 years frohHMar. 1913,
72 to 80-lb. T rail. Stock $600,000 ($100), of which $599,800 is outstand­
ing. Funded debt consists o f $400,000 ($1,000) auth. and out. 5 % 1st M .
bonds (c&r), dated 1906, due M a r. 31 1926, int. A . & O . at 111. T r. & Sav.
B ank, Chicago, Trustee. Subject to call at 105. Earnings for 1913, gross,
$164,814; net, $ 72,880 . In 1912, gross, $152,500; net, $67,840.
O F F IC E R S .— l ’res., C . II. Young: V .-P ., D . Langan; Sec., A . L .
Schuyler; T reas., C . C . Coan; Gen. M g r ., Bernard Bohnsen.

COFFEYVILLE, KAN.
T H E U N IO N T R A C T IO N C O .
O R G A N I Z A T I O N .— Incorporated Sept. 28 1906 in Kansas. Franchises
expire 1957. Road is on private right of way except in Coffeyviile, I n ­
dependence, Cherryvaie and Parsons.
STOCK A N D BONDS—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y '
Stock, $50 0 ,0 0 0 .......... .............................. ...............
$500,000 See text.
First m tgo, $1,000,000, gold/ 1907
5 J-J
983,000 Jan 1 1937
($1,000), sinking f u n d ., t f l Warren (Pa.) Trust C o ., Trustee.
6%
100,000
Oct 1 1921
Second mortgago____________ t f 1911
Bonds.— 1st M . bonds aro red. ann. by lot at 105 and Int., beginning Jan.
1912, through s. f.; $17,000 have been retired. S. f. of 10% of not earnings
annually began In 1911. Int. at N a t. C ity B k ., N . Y .; Commercial N a t.
Bank, C hic., and Tradesmen’s N at. B ank, Phila. See V . 8 8 , p . 1003.
D iv id e n d s .— 6 % is being paid on the stock.
R O A D .— Operates 67 miles of road, o f which 9M m . in C offeyviile, 7
miles In Independence and 5 0 K miles o f interurban road between C offeyvillo. Independence .Cherryvaie and Parsons. 70-lb . T rails.
O F F IC E R S .— Pros., D II. Siggins, W arren, P a .; Sec., II. A . Siggins;
Treas., Sam. Q. Smith.— V . 90, p . 1172; V . 91 , p . 590; V . 92, p . 120;
V . 93. p. 591, 1727; V . 95, p. 4 9 . 1474; V . 97, p. 1428.

COLORADO SPRINGS, COL.
CO LO RAD O

S P R IN G S &

IN T E R U R B A N

RY.

O R G A N I Z A T I O N .— Incorporated In A u g. 1902 as a consolidation of the
Colorado Springs Rapid Transit R y . and the Colorado Springs & Suburban
R y. Tho consolidated company has issued $1,500,000 stock, of which
*500,000 pref. Bonds ($1,000, 5. M .- S ., due Sept. 1932, Central Trust C o .,
N . Y . , trustee) au th ., $1,500,000; issued, $1,000,000; $500,000 reserved for
underlying bonds. Other information refused— “ is a close corporation and
has neither stocks nor bonds on the m arket.” Facts below relate solely to the
old C olorado S p rin g s R a p id T ra n s it R y.

C o lo r a d o S p r in g s R a p id T r a n s it R y .
S T O C K & B O N D S — M ile s . D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity .
$500,000 f .p .............. ..
Stock (par $ 1 0 0 )__________________ _______________
1st M , $1,000 each_cp t
1890
6 A -O
338,000
Sco text.
6 g A -O
162,000
Apr 1 1921
Consol M . $1,000 each ./27 1891
for $500 ,00 0, g o k L cp tl
Central Trust C o ., New York. Trustee.
In te re st is payable at Chemical National Bank, N ew York C ity.
C onsolidated m ortgage limited to $500,000 by cancellation of $250,000 of
tho bonds: $338,000 reserved for 1st m tge. First m tge. bonds matured in
1910 but were not retired, and are held presumably by friends of the co.
R O A D .— Owns 38 miles of track.
O F F IC E R S .— Pres., D . II. Rico; V .-P ., W . Lennox; Sec., W m . L lovd;
T reas., C . S. Chamberlin.— V . 70, p. 75. 175, 328.

COLUMBIA, S. C.
C O L U A 1 B IA R A I L W A Y , G A S & E L E C T R I C C O .
O R G A N I Z A T I O N .— Does the entire street railway, electric lighting,
ower and gas business in Colum bia, S. C .— N am e changed from Columbia
llectric Street R y ., Light & Power to the abovo on M a y 15 1911. V . 92,
p. 1374. Is a consolidation on July 1 1905 of the Columbia Electric St. R y .,
L t. & Pow. C o . and the Columbia W ater Pow. C o. The first-mentioned
was organized In So. Caro. Jan. 6 1892 and was a consolidation of the Colum ­
bia Elec. & Suburban R y. C o. and the Congaree Gas & Electric C o. A c­
quired the Columbia & Eau Claire Electric R y. Owns all the stock and
bonds of the Columbia Gas Light C o ., which is also leased. Operates under
rights granted by State of So. Caro, (which owns the city streets), expiring
D ec. 16 1941. Gas fran chises^granted by State and city franchises covering
all departments are without limit of time.
In Juno 1912 acquired Parr Shoals Power C o. (stock $ 2,000,000 com ., all
owned, and $300 ,00 0 p rof.), which is building a dam and a hydro-electric
plant (initial capacity 18,000 h. p.; ultimato capacity 24,000 h. p.) on tho
Broad Rlvor, near Alston, S .C .. 27>4 miles northwest of Colum bia, to supply
tho requirements of the controlling co. V . 95, p. 1122. See also V . 98, p.
154. O f tho 18,000 h. p ., 10,800 h. p . was to have been ready for delivery
soon after April 1 1914 and the remainder will be ready about July 1 1914.
V . 98, p. 1070.
ST O C K A N D BON DS—
D a le .
In te re s t.
O u ts ta n d in g .
M a tu rity ’
Com m on. $2,000,000 ( $ 1 0 0 ) - . ................................
$ 2,000,000 ....................
Prof., $1,00 0 ,0 0 0 , 6 % c u m . ) ------Q-J
831,600 A p r ’ 1 4 ,l H
( $ 1 0 0 ) .................. .....................|
First mortgage, $ 7 ,5 0 0 ,0 0 0 ,1 1911
5 J-J
2,554,000 July 1 1936
gold ($l,d O 0)-------------- c * t f i l n t . at c o .’s office or at Its agency in N . Y .
IColumbia-Knickerbocker T r .C o ..N .Y ..T r u s .
Parr Shoals P p f d s t k $300,000 ____
7%
3 00,000
Parr Shoals P 1st mtgo, $ 3 ,- / 1912
5 g A -O
3 ,000.000 Apr 1 1952
000,000 ($1,000), gold o * t f l Columbia-Knickerbocker Trust C o. Trusteo
Col Canal Co m tg, $200,000 t f ------6%
200,000 Sco text. ’
B onds.— O f the outstanding first m tge. bonds of 1911. $60,000 are deposi­
ted to guar. int. on Canal C o. 6s. O f unissued bonds, $200,000 aro reserved
to retire Canal C o . bonds and $4,816,000 for improvements, additions, ac­
quisitions, & c ., under certain restrictions. Bonds are subject to call on any
int. date at 105 and int. Since July 1 1912 an amount equal to 1 % of bonds
out must be expended for im pts., & c., against which no bonds m ay there­
after be issued, and beginning D ec. 15 1915 a further 1 % for retirement of
bonds. See V . 93, p. 229. Columbia Canal C o. bonds mature $100,000
Jan. 1 1918 and $100,000 Jan. 1 1919. Parr Shoals Power bonds are guar.,
p . & i ., by en d., by the Columbia Ity ., Gas & Elec. C o . S in k in g f u n d o f
H of 1 % semi-annually of bonds out from 1918 to Jan. 1 1952, inclusive.
They are subject to call at 105 and int. on 60 days’ notice. In t. payable in
N ew Y ork.
D iv id e n d s .— First div. on nref.— 3 % — paid July 1 1906; Jan. 1907, 3 % .
Subsequent divs. passed (all surplus being put into property) until July
1911. when 1
was paid; same amount quar. since to and incl. A p r. 1914.
E A R N I N G S .— For cal. year 1913, gross, $721,594; net, after taxes, $ 333 ,­
647; int., $133,851; surplus. $199,695. In 1912, gross, $601,991; net,
after taxes, $300,977; int. charges. $132,506; surplus, $168,471.
R O A D .— Operates 23.16 miles of track; 50 cars. Owns 2 power plants
with a total capacity of about 14,000 h. p.
O F F IC E R S .— Pres, and T reas., E . W . Robertson; 1st V .- P ., Henry P a r­
sons; Sec., R . Charlton W right; Gen. M g r ., G uy K . D ustin.— V . 81, p. 507,
974; V . 84, p. 931; V . 92, p . 1108, 1374; V . 93, p. 229; V . 94, p . 206; V . 95,
p. 1122; V . 96. p. 1020; V. 97, p. 1024; V. 98. p. 155! 1070-S

§

COLUMBUS, GA.
C O LU M B U S E L E C T R IC CO.
O R G A N I Z A T I O N .— Incorporated in M aine on Feb. 6 1903 and owns all
the securities o f the Gas Light C o. of Columbus; the entire common stock
and^$121,300 o f tho pref. stock (out of $350,000) of the Columbus Power




39

C o ., and all tho stock and $370,000 of the 1st M . bonds (out of $ 450 ,00J)
of the Columbus Railroad C o ., which companies do the entire street
railway and lighting, gas and power business of Colum bus and the adjoining
towns of Phoenix and Girard. F ra n chise s perpetual. The freight lines
are leased to the Seaboard Air Lino R v. for 50 vears from O ct. 17 1901 at
a rental of $7,500 per annum. $100,000 pref. stock is held by the Public
Service Investment C o.
ST O C K A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
C om , $1,5 0 0 ,0 0 0 ($100).................................................
$ 1 ,500,000 ....................

“'a s i f i S o o t S i A i . 1! ~ ~

jj

‘ ■2oo'oo° ,“ - i4-3ss

lst,®c,olL ^ * S I *500,000. gold! 1903
5 g A-O
758,000 April 1 1933
($1 000) -------------------- c * n tf lin t , at Old Colony T r . C o ., Boston, Trustee.
3' ^ n / / o^ A ? V 0i ),°vSSPgoId' / 1911
5 J-J
1 ,000.000 July 1 1914
($100, $500 & $ 1 .0 0 0 )_ n tf (in t . at Commonwealth T r . C o ., D ost..Tru st.
CoJV?AbnnnR K ,i st^ 0^ ? ge- | , 1898
5 A -O
53,000 Oct 1 1 9 3 7
$450 ,00 0, gold ($ 1 .0 0 0 ). t f l Int. at W est End Trust C o .. Phila., Trustee
N otes payablo M ar. 31 1914-- __________ ________
6 8 0 ,0 0 0
. . . _______
B onds.— Tho $ 1 ,500,000 new bonds of the Colum bus Elec. C o. are subject
to call as a whole at 105 & int. $ 80,000 are reserved to retire a like amount
of Columbus R R . bonds. The remaining $370 ,00 0 Colum bus R R . 1st M .
bonds are owned by the Colum bus Elec. C o . An “ Improvement fu n d " of
2 % per annum o f outstanding bonds commenced in 1905. Th e 3-yr. notes
are callable as a whole or in part on any int. da y on 60 d a y s’ notice at 101
and int. V . 93, p. 163.
D iv id e n d s .— First div. on pref. stock, 3 % , was paid Jan. 1907; 3 % has
been paid semi-annually since to and including Jan. 1914.
R O A D .— Operates 25.9 miles of track, of which 5 miles leased to Sea­
board Air Line. 54 cars; 2 steam locomotives (leased to S . A . L . R y .).
Standard gauge.
E A R N I N G S .— For 12 months end. D ec. 31 1913, gross. $608,636; net.
after taxes, $313,983: other income, $35,849; interest, $232,504; sinking
and improvement funds, $40,175; pref. divs. ( 6 % ) . $72,000 ; surplus. $ 5,153.
O F F IC E R S .— Pres., Charles F. Wallace: V .-P ., Harry H . Hunt: Sec.,
Alvah K . T odd; T reas., Henry B. Sawyer; G en. M g rs., Stone & Webster
M g t. A ssn ., B oston.— V . 82 . p. 509; V . 8 3 , p. 1590; V . 93, p. 163.

(1) Columbus Power Co.

O R G A N I Z A T I O N .— Is a consolidation In March 1906 o f the Columbus
Power C o ., the Coweta Power C o. and the Chattahoochee Falls C o .
Entire
com . stock and nart o f the pref. is owned by the Colum bus Electric C o.
STOCK A N D B O N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
Com m on, $ 1,500,000 ($100).......................................
S l.5 0 0 .0 0 0 _
_
Pref, $1,5 0 0 ,0 0 0 ($100), 6 % )
'
.......................

non-cum, re fa t i 0 5 . . ..........I ____

1st m tge, $ 4 ,0 0 0 ,0 0 0 , gold.)

1906

________
5 g A -O

350,000
2 .4 5 6 .0 0 0 Apr 1 1936.

guar.............................. c tfl Int. at Commonw.Tr. C o., Boston, Trustee
Bonds.— O f the $ 4 ,000,000 authorized, $ 1,5 0 0 ,0 0 0 are reserved for future
purposes. A s in k in g fu n d o f 1 % o f bonds ou t began A p r. 1 1912. $44,000
purchased for sk. fd. and canceled. Bonds sub j. to call as a whole (or in
part for sk. fd.) at 110 and int. on any int. date. Bonds are guar. p. & I
and s. f. by Colum bus Electric C o.

P L A N T .— Controls b y ownership or lease developed water power on
C hattahoochee River aggregating 7,500 h . p . Also owns steam p la n to f
3,000 h. p. in C ity o f Colum bus. Proposes to have an ultimate hydraulic
developm ent o f 75,000 h. p .— V. 82, p. 512.

COLUMBUS, IND.

INDIANAPOLIS COLUMBUS & SOUTHERN TRACTION CO.
Lease.— In D ec. 1912 was leased for 999 years to the Inter-State Public
Service C o ., a subsidiary o f the M iddle W est Utilities C o ., at a rental of 5 %
on the capital stock, or $92,000 a year above all taxes. V . 95. p. 680. See
Inter-State Public Service C o. in V . 95, p . 1745; V . 9 6 , p. 1157.
O R G A N I Z A T I O N .— Formerly the Indianapolis Greenwood & Franklin
R R ., which company was incorporated in Indiana in 1895. N am e changed
as above in Jan. 1903. In Sept. 1912 increased Its auth. stock to $ 1 ,8 4 0 ,0 0 0
S T O C K A N D B O N D S .—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
Stock, $ 1 ,8 4 0 ,0 0 0 ------------------ ------------------- -----------$1,8 4 0 ,0 0 0 .......................
Fhvt mortgage. $ 1 ,0 0 0 ,0 0 0 / 1903
5 g F -A
9 32,000 Feb 1 1 9 2 3
gold ($1,000)---------------c * t f (Int. at Trust C o. oi N or. A m ., Phila., Trust.
B onds.— Cannot be called. $68,000 are reserved for exten. and im pts.
at not exceeding $15,000 per mile. See V . 76, p. 654: V . 8 2 , p. 1212.
E A R N I N G S .— For year ending D ec. 31 1912, gross, $429,755; net after
taxes, $184,483. In 1911. gross, $426,394; net, after taxes, depreciation.
& c.. $167,547; interest, $39,100; surplus, $128,447.
R O A D .— Operates 62.38 miles o f track between Indianapolis, Franklin
and Columbus and Seymour, of which 3.86 miles belong to Ind. Trac. & Ter.
C o. Standard gauge. 60-lb. T rail. M ostly privato right-of-way. It
connects with Indianapolis & Louisville E lec. R y ., thus forming a through
line from Indianapolis to Louisville.
O F F IC E R S .— Pres., W m . G . Irwin; V .- P ., L . I. Sweeney; Sec. & T rea s.,
H ugh Miller; all o f Columbus, Ind.— V . 7 7 , p . 823; V . 78, p. 1446; V . 8 2 .
p. 928, 1212; V . 86, p . 421; V . 95. p. 680.

COLUMBUS, OHIO.
C O L U M B U S R Y . & L I G H T C O .— Trolley and electric light.
R E O R G A N I Z A T I O N A N D M E R G E R .— Late in 1913 tho plan of
reorganization (V . 96 , p. 1839) which had been under consideration for
some time, was declared operative, with modifications, as follows: The
Columbus Railway, Power & Light C o ., formerly tho Columbus Traction
C o ., took over tho Columbus Railway C o . (stockholders sold property
Jan. 9 1914, seo V. 9 8 , p. 235), and Columbus Edison C o. (sold Jan. 13
1914, V . 98, p. 2 3 5 ), exchanging its stock as shown in V . 96, p. 1839. The
leases, contracts, & c ., of these companies formerly held by the Columbus
Railway & Light C o. were transferred to the Columbus Railway, Power
& Light C o. Tho Columbus Light, Heat & Power C o . was to have been
merged also, but not enough stockholders of tho Light, Heat & Power
C o. would sanction tho merger. Tho plan was then modified (see V . 97,
p . 1425, 1662) and the Columbus Railway & Light C o . was kept alive
to retain tho lease of the Light, Heat & Power C o ., the Columbus Rail­
w ay, Power & Light C o. controlling it under an operating agreement.
The Columbus Railway & Light C o. will have in its treasury $3,0 0 0 ,0 0 0
full-paid common stock of the Columbus R y ., Pow. & L t. C o ., and in due
course its affairs will be wound up and the $3,000,000 distributed among its
stockholders.
V. 96, p. 1839: V. 97. p. 950, 1425. 1662, 1732. 1897.
On Feb. 1 1914 the Columbus R y ., Power & Light C o . took title to the
several leased properties, excepting only the Columbus L t ., H t. & P o w .C o .
O R G A N I Z A T I O N .— Incorporated in um o on M a y 12 1903 and acquired
under lease the Columbus R y. C o. and the Columbus Edison C o. (merged
in 1913 in the Columbus R y ., Lt. & Pow. C o.— seo below) at a rental of
guaranteed divs. at the rate of 5 % per annum on the pref. stock of the
former and 6 % per annum bn the pref. stock of the latter, and 5 % per an­
num on tho common stock of each, the divs. on the common of each com­
pany to commence Sept. 1 1903. Leases have been assigned to the Colum­
bus R y ., Power & Light C o . See V . 76. p. 1142.
On M arch 4 1907 leased for 50 years the Columbus Traction C o . (now the
C ol. R y ., Pow. & L t. C o .), which is the successor to the Central M arket
Street R y .; for terms of lease see that company below.
On Sept. 14 1908 stockholders ratified lease of tne Columbus Light, Heat
& Power C o ., after the latter had acquired the property of the Columbus
Public Service C o.— see statement below. V . 8 7 , p. 740.
Assessm ent.— Stock was only 2 0 % paid In, but in D ec. 1913 the directors
called for tho payment o f $20 per snare in conjunction with the merger
ilan (see above), payable in two installments of $10 each: the first by
)ec. 30 1913 and tne second June 30 1914. V . 97, p. 1732.

f

Date.

Interest. Outstanding. Dividends.

STOCK—
/
$5,000,0001
Quar.
(2 0 % paid in. j See text
Stock, $5,000,000 ($100)......................
Notes $1,000,000 g ($1,000)1 1911
5 g J-D
600,000 June 1 1914
guar p&i by Col I t y & L t .t f /T ru st C o . o f N or. A m e r., Phila.. Trustee.
Notes are subj. to call at 101 and int. Int. is payable at office of E . W ,
Clark & C o ., Phila. Notes are secured by deposit o f 4 ,0 0 0 shares C ol. Ry
com ., 2 ,000 shs. C ol. E d . com . and 3 ,250 shs. C ol. T rac. pref. V . 93, p. 345*
E A R N I N G S .— O f Columbus R y . & Light C o . for cal. year 1912, gross,
$2,944,052: net, $1,347,837; charges and depreciation, $1,272,823; sur­
plus, $75,014. In 1911, gross, S2.824.489; net, $1,321,432; charges.
$1,233,012; surplus. $88,420.

O F F IC E R S .— P res., Samuel G . M cM een ; 1st V .- P ., G en. M g r. & T reas.;
E . K . Stewart; 2d V .- P ., O . M . Clark; Sec. and Auditor, P . V . Burington;
Asst. Sec. and A sst. A u d ., Herbert M . Burington.— V . 9 1 , p . 8 70, 1095,
1766: V . 92, p . 260; V . 93 , p . 345; V . 9 4 , p . 278, 1249; V . 95, p . 2 9 7 . 4 1 9 .
V . 9 6 . p . 359, 652, 1700; V . 9 7 . p. 8 02, 950, 1732; V . 9 8 , p . 155.
(1) C o lu m b u s R a ilw a y , Pow er & L ig h t C o .— A trolley road.
O R G A N I Z A T I O N .— Incorporated In Ohio on D oc. 26 1906 and Is suc­
cessor to the Central M arket Street R y ., sold under creditor’s bill In Feb­
ruary 1906. subject to the $500,000 bonds. Successor company at first
known as the Columbus Traction C o ., but In 1913 name changed to present
title as part of the plan for merging all the various properties as noted In the
remarks further above. In pursuance of the plan the Columbus R y ., Pow.
Sc L t. C o. took over the Columbus Railway C o . and the Colum bus Edison
C o ., Issuing its stock (see plan, V . 96, p. 1839) In exchango for the stock of
the two companies merged. F ra n c h is e provides that tlckots shall be sold
8 for 25 cents and that a 5-cent cash transfer be issued to all linos entering
or using the Columbus London Sc Springfield R y . C o . Interurban loop.
STOCK AN D B O N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r it\
$ 6 ,3 4 0 ,0 0 0 A p r '1 4 , 1 >
C om m on, $ 6 ,3 4 0 ,0 0 0 _________ ______
1.143.500 Apr ’ 14. 1)
“ A " prof, $ 1 ,143,500
4 .0 6 6 .5 0 0 Apr ’ 14, 1)
“ B " pref, $ 4 ,066,500
5 g J-J
425,000 Jan 1 192
Cent M a r ls tm tg e , $ 5 0 0 ,00 0,' 1902
gold ($1,000)______ c * _ n tf Interest at i f . Y . Trust C o ., N . Y ., Trustee.
Col St R y 1st, $ 3 ,0 0 0 ,0 0 0 ,
1892
5 g J-J
3,000,000 July 1 1932
gold_________________c * . n t f Interest at E . W . Clark & C o ., Philadelphia.

C ol.-K n ick . Trust C o ., N . Y ., Trustee.

Crosstown 1st m tge, gold, 1893
5 g J -D
572,000 June 1 1933
gu, prin & int______ c * . n t f C ol.-K n ick . Trust C o ., N . Y ., Trustee.
C ol R y 1st consol m tge, $ 7 .­
1899
4 Q-J
3.428,000 Oct 1 1939
000,000 ($1,000), g , c * .n t f Interest at Union Savings Bank & Trust C o.
Bonds are redeemable after
o f Cincinnati, Trustee, at E . W . Clark Sc
O ct 1 1914 at 105 and lnt.
C o ., Philadelphia, or at com pany’s office.
Col Elec 1st m tge, g .g u a r .t f .............
g M -N
450,000 N ov 1 1922
C ol
. n t f ____
-------------5 g A -O
300,000 April 1 1929
„ E d, E l 1st
„ m
. tge, g , g u
B onds. — C ent. M a r . 1st m tge. s in k in g f u n d o f 5 % o f gross receipts began

6

after 5 years. Entire issue is subject to call after 5 years at 110 and interest.
$75,000 have been retired.
T h e Crosstown Street R g. first m ortgage, is for $2,000,000, o f which
$572,000 are outstanding; the rest have been cancolod. Prin. and lnt.
o f the Crosstown bonds were guar, by the old Colum bus St. R y . C o .
O f the $7,000,000 m tge. o f 1899 o f the Colum bus R y ., $1,500,000 were
issued in paym ent for the Columbus C ent. R y . property; $3,000,000 will
bo held In trust to retire the Colum bus St. R y. bonds, $572,000 to retire the
Crosstown m tge. bonds and $300,000 to take up unsecured 4 % notes o f the
Columbus St. R y .; $1,628,000 was reserved to be used hereafter frcm tim e to
time in making extensions. Improvements and additions— $628,000 upon
a 2-3 vote o f directors, the other $1,000,000 only on a vote o f stockholders.
T his covers the whole $7,000,000. In the table above we report as outstand­
ing $3,428,000. T his includes $1,500,000 issued In paym ent for the C olum ­
bus Central R y ., $300,000 issued under the clause providing for the retire­
ment o f 4 % notes and $1,628,000 under the clauses concerning lm pts.
D iv id e n d s . — An Initial d iv. o f 1 )4 % was paid on the Series " A ” pref.
stock A pril 1 1914. On Series “ B ” initial d lv. o f 1 U % paid in April 1914.
On com m on Initial d lv . o f 1)4 % was paid In April 1914.
R O A D .— 13.3 miles o f track all in city o f C olum bus.— V . 96, p. 1228,
1422, 1839; V . 97, p . 1425, 1662, 1897; V . 98, p . 235, 452, 1316.
O F F IC E R S .— Same as old Columbus R y . & L t . C o . (see a bov e).
& P ow er
Lease.— Leased to Columbus Railway Sc Light C o. for 60 years from 1908.
with renewal privileges. Lease provides for 6 % on outstanding bondsand
preferred stock of com pany, and dividends on com m on beginning In 1909
at 3 % , 1910 4 % , 1911 and thereafter 5 % , payable quar. V . 87, p . 547,
O R G A N IZ A T IO N .— Incorporated A ug. 1 1908 in O hio, and acquired
the property o f Colum bus Public Service C o . per plan In V . 87, p . 346, 547.
STOCK A N D BONDS—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y
C om m on, $750,000 ($100)....... ........ .......................
$210,500
See text
Pref 0 % , $1,250,000 ($100)________
________
516,300
See text
Gen m tge, $1,000,000 ($100,1 1908
6 F-A
690,000 Feb 1 1924
$500 and $1,000), gold _ _tf)S ta te Sav. B k . & T r. C o ., C olum bus, Trustee
Stock a n d Bonds. — T h e preferred stock is redeemable since Jan. 1 1912.
Interest on gen. m tge. bonds Is guar, b y the Columbus R y . & L t. C o .;
$750,000 bonds are to be used to take up like amount o f C ol. Public Service
C o . bonds, the greater part having already boon exchanged. $250,000 are
reserved for improvem ents and extensions.— V . 87, p. 346, 547, 1481:
V. 98, p . 239.
O F F IC E R S .— Pres., Ohas. L . K urtz; V .-P r., E . W . Swisher; Sec. &
T reas., W . H . Sharp.
______

(3) Columbus Light, Heat

Co.

OHIO ELECTRIC RAILWAY CO.

O R G A N IZ A T IO N .— Incorp. M a y 16 1907 in Ohio. On A u g. 31 1907
purchased the Lima & Toledo Traction C o ., which owned the line from Lima
to T oled o, and leased the Lim a E lec. R y . & L t. C o . (this co. being pur­
chased on D ec. 31 1909), which operates In the city o f Lim a, and the F t.
W ayne Van W ert Sc Lima T ra c., with a line from Lim a, O ., to F t. W ayne,
Ind. Also acquired b y lease tho Indiana C ol. Sc E ast. T ra c., which com ­
pany assigned to it tho leases o f C ol. N ewark & Zanosvllle E lec. R y. and
D ayton & Western T ra c. On F eb. 1 1908 purchased the Cine. Northern
T rac. (subsequently dissolved) and acquired from that com pany Its loaso
o f Cine. D ay. & T oledo Traction.
Including city lines in Zanesville, N ew ark, Lim a, Hamilton and other
points, operating mileage is 617.42 miles, extending from Zanesville on
tho east via Newark to ColumDus (including line from Colum bus to Orient
and B uckeye Lake and Newark to Granville branches), thence through
Springfield to D a y to n , and from D ayton to;Union C ity , where connection Is
m ade with Indiana Union T rac. for M uncie, Anderson and Indianapolis,
In d ., and from D ayton to R ichm ond, In d ., whore connection Is m ado with
T . H . I. Sc E . T ra c. to Indianapolis. Extending north from Springfield
through Urbana and Bollofontalno to Lim a, and from Lima to Dofianco; to
T oled o, O ., and F t. W ayne, Ind.; also from D ayton to Cincinnati, including
Germantown, M t. Healthy and Collego Hill branches. Electric light and
power business is conducted In cities o f Zanesville, Lim a and W est Alex­
andria and steam-heating plant In Lim a.
In M a y 1913 was granted authority to Issue $3,500,000 2d m tge. bonds,
provided $5,000,000 o f outstanding stock was retired. This was accord­
ingly done. V . 96, p. 1305, 1840; V . 97, p . 299.
STOCK A N D BONDS—
D a te . In te re s t.
O u ts ta n d in g .
D iv id e n d .
$8,000,000
C om m on, $8,000,000 ($100)...................................
referred, $6,000,000 5% non'
3,00 0 ,0 0 0
See text.
cum ( $ 1 0 0 ) ____
1st & ref. m tge. $15,000,000
1910 5. g
_ J-J
4,20 0 ,0 0 0 Jan 1 1930
gold ($ 1 ,0 0 0 ) ____________ c* In t. at Fidelity Trust C o ., Phila., Trustee.
2nd & gen mtge $ 5,000,000,
1913 5 g J -D
1.830,200 Juno 1 1943
gold C$100) ($500) ($1,000) In t. at Fidelity Trust C o ., Phila., Trustee.
Equip notes Series “ A $160,­
1910 5 g J-J
104,000
See text.
000 gold ( $ 1 ,0 0 0 ) .............c* Int. at Fidelity Trust C o ., Phila., Trustee.
Equip notes Series ’ ’B ” $ 130 ,- 1911 5 g J-J
97,000
See text.
000 gold ( $ 1 ,0 0 0 ) .............c* In t. at Fidelity Trust C o ., Phila., Trustee.
Equip
notes Series “ O
$120 ,- 1912 5 g J -D
--------------------------_ ” _____
102,000
Soe text.
000 gold ( $ 1 ,0 0 0 ) .............c*| Int. at Fidelity Trust C o ., Phila., Trustee.
Stock.— Preferred is red. at 105 on 30 days’ notice.
Bonds.— $3,250,000 1st Sc ref. bonds are reserved to retire prior lions
($1,250,000 bonds of Lim a E l. R y . & L t. C o. and $2,000,000 bonds of
Ft. Wayno Van W ert & Lima Trac. C o.) and $7,550,000 for additions,
betterments, & c. Entire issue is subj. to call on or after Jan. 1 1915 on
any int. day at 105 and int. on 60 days’ notice. N o sinking fund. The
2nd & gen. m tge. issue is subj. to call on any lnt. dato for payment In cash
or for substitution o f 1st Sc ref. m tge. bonds o f 1910 exchangeable at par
on 8 weeks’ notice. Bonds to be delivered for purposes of im pts., as ap­
proved by Public Sorvlco Commission o f Ohio or other governmental
authority. N o sic. fd . M ortgage covers all properties and loasohold
estate, subj. to underlying lien. Sorles “ A ” equip, notes mature $8,000
seml-ann. commencing Jan. 1 1911. Sorios “ B " equip, notes are 1st
m tge. on 26 cars. They maturo somi-ann. ($7,000 Jan. 1 and $6,000 July 1)
from Jan. 1 1912 to July 1 1921, inch All Issues of equip, notes are guar.,
p. & L, by end. o f Ohio Elec. R y . Series “ O ” equip, notes are 1st m tge.
on 43 cars and mature $6,000 seml-ann. beginning D ec. 1 1912.




[Vol.

ELECTRIC RAILWAYS

40

XCVIII

E A R N I N G S .— For cal. year 1913, gross from railway, $ 3,507,255; light
and power, $304 ,77 9; miscellaneous, $15,912 ; total gross, $ 3 ,8 2 7 ,9 4 6 . In
1912, gross from railway, $ 3,425,682; light and power, $280 ,90 1;m isc.,
$33,123; total gross, $3,7 3 9 ,7 0 0 .
O F F IC E R S .— Pres., W . Kesley Schoepf; V .-P ., D ana Stevens; V .- P .,
v .'l l S

f.

f

l

“ d38:T»

.

pF - A

V I!-. S: H P r- “ •»•23* v- «•

1365’ 1557' 1840:

(1) C o lu m b u s In te ru rb a n T erm in al C o .

Entire stock owned by Ohio Elec. R y., which guar, bonds.
O R G A N I Z A T I O N .— Incorp. In Ohio on M a y 24 1910. Owns and
operates since Jan. 1 1912 passenger and freight terminal stations in O olum b.

s t ^ i f ^$1,0f0i0 ,0f 0f0 ^gold!
. . 1910
D°'.e- IntM
5 g J -D

0ut3ToSS- Maturitv-

433’, 000 June 1 1935
($500) guar p Sc1............... c*JIn t. at Olt. Tr. ScSav. B k ., C olum bus, Trust,
B onds.— Remaining bonds reserved for acquisition of additional real

estate, additional stories on present bldg, and other Impts.
to call.

Not subj.

O F F IC E R S .— Pres., D ana Stevens; V .P s ., J . B . Foraker Jr. and W .H .
McAlister; S e e .* T reas., F. A . H ealy.— V . 92 , p . 1564; V . 9 3 . p. 1532, 1599.

(2) T h e I n d ia n a C o lu m b u s & E a s te r n T r a c t io n C o .— A tro lle y road.

Leased to the Ohio Electric R y. Aug. 31 1907. Latter company guaran­
tees interest on bonds and 5% dlvs. on pref.[stock and owns entire com. stk.
O R G A N I Z A T I O N .— Incorporated In Ohio on April 14 1906 and has ac­
quired the D ayton Springfiold & Urbana E lec. R y ., the Columbus London
& Springfield R y ., the Columbus Grove C ity Sc Southwestern I t y ., tho
Urbana Bellefontalne <& Northern R y ., the Springfield & Western R y ., the
Dayton Sc Northern Traction C o. and about 12 mllos o f the D ayton Sc
Muncie Traction C o ., extending from Greenville to Union C ity on the
Indlana-Ohlo State line.
Has also acquired the Columbus & Lake Michigan
R R ., a steam road operating between Lim a and D efiance, which has been
converted into electricity.

Leases the Dayton & Western Traction Co. and the Columbus Newark Sc
Zanesville Elec. R y., which latter company had previously absorbed the
Columbus Buckeye Lake ScNewark Traction Co. and tho Zanosvllle R y. Lt.
& Power Co. These leases were assigned to the Ohio Eloc. Ry. Aug. 31 1907.

The new general and refunding mortgage bonds were listed on the Phila­
delphia Stock Exchange In February 1907. V . 8 4 , p . 3 39. See description
of bonds, property, & c.. In V . 8 3 , p. 37 .
STOCK A N D B ON DS—
D a te . In te re s t.
Outstanding. M a tu rity .
Com m on, $ 3 ,025,000 ( $ 1 0 0 ) . . ................................
$3,025,000 .......................
Preferred, $1,000.000 ($ 100)...............
5%
---- o
'#
1,000,000
See text.
Gen and ref m tge (see text)
1906 5 g M -N
6 ,150,000 M a y 1 1926
gold ($ 1 ,0 0 0 )...................... c* Int. at Pa.Co.for Ins.on L.& G .A .,P hila..T rus.
C ol Lon & Spg 1st m tge, $ 1 ,­
1900 5 g A -O
500,000 Oct l 1920
500,000, gold ($ 1 ,0 0 0 )--C * In t. at N . Y . Trust C o ., N ew Y ork, Trustee.
D ay Spg Sc U rb 1st mtge,
1898 .5 g M -N
750,000 N o v 1 1928
$750,000, gold ( $ 1 ,0 0 0 ) ... Interest at N .Y . Trust C o ., N . Y . , Trustee.
Bonds.— The gen. and ref. m tge. was originally for $12,000 ,000 but auth.
amount has been reduced to $ 10,000 ,000 . O f the remaining bonds $ 500 ,­
000 are treas. bonds deposited with trustee and aro available for extens. Sc
Impts. when net earns, aro equal to 1)4 times int. charges on bonds out
ana to be issued; $1,250,000 aro held to rotlro tho underlying lions given
In table above. Tho remaining $2,100,000 areroserved for futuro better­
ments, Improvements and extensions, and can only be Issued as follows:
$1,100,000 when not income is equal to 1 H times lnt. charges on all bonds,
Including those to bo issued, and $1,000,000 when not Is equal to twlco lnt.
charges, Incl. lnt. on bonds to bo issued. These bonds are subject to call in
whole, but not in part, at 105 and Int. The Columbus London Sc Spring­
field bonds m ay be called at 110 and int. A sinking fund on those bonds
of 5 % o f gross earnings began with year onding Sept 30 1900. See V . 71,
p . 903.
$102,000 in sink, fund Jan. 1 1914. Tho D a y . Springfield Sc Ur­
bana bonds are subj. to call at 110 and Int. A sink, fund of 6 % o f gross
earnings began In 1903. $100,000 in sinking fund Jan. 1 1914.
R O A D .— Columbus to Orient, Columbus through Springfield to D a y ­
ton, Dayton to Union C ity and Richmond, In d ., Springfield to Lim a,
through Lima to Defiance, O . Total miles of track (electric) owned, 252.99;
leased, 127.08; total operated, 380.07. Standard gauge. 5 power houses.
231 cars.
O F F IC E R S .— Pres., D ana Stevens; V .-P s ., D . G . Edwards and W . A .
Draper; Sec. and Treas., F . A . H ealy; A sst. Sec. Sc A sst. T reas., D . J.
Downing.— V . 85 , p . 600; V . 8 6 . p . 721; V . 87 , p . 37.
(a) D a y to n & W e ste rn T r a c tio n .— Trolley road.
O R G A N I Z A T I O N .— Incorporated on June 26 1898. W as leased on Juns
15 1906 to Ind . C olum . & East. (V . 82, p. 1437). For term s, see below.
STOCK—
Div. Period. Outstand’g. L a s t Dividend.
Q-J
$747,500
Soe text.
Com m on, $900,000 ( $ 1 0 0 ) ......................
Pref, $850,000 ($100) 5 % cum ...............
Q-J
850.000
Soe text.
Dividends.— Lease taking effect June 15 1908 provides for 5 % per annum
on pref. stock and 5 % on com . stock In 1900 and 1907, 5)4 % in 1908 and
0 % thereafter.
R O A D .— D ayton, O ., to Richmond, Ind ., with branch from N ew W e stvllle to New Paris, 36.87 miles. A t Richmond connection is made with
Terre Haute Ind. & East T rac., thus making a through lino from Indian­
apolis, via D ayton to Columbus, a distance of 184 miles.
V. 82. p. 1437:
V . 83, p. 36, 9 4 . 379.
O F F IC E R S .— Pres, and T reas., Valentino Winters; V .-P ., J. H . Winters;
Sec., R . R . Dickey; Asst. Sec. and T reas., F . A . Funkhousor, all o f D ayton.
(b )

C o lu m b u s N e w a r k & Z a n e s v ille

Electric R y . C o . — A t r o ll o y r o a d .

O R G A N I Z A T I O N .— Incorporated in Ohio on July 2 1902, and in April
1904 absorbed the Newark & Granvlllo Street B y . In Juno 1906 acquired
the Columbus Buckeye Lake Sc Newark Traction C o ., the proforrod share­
holders boing given $500,000 in pref. stock for their holdings. Also took
over the Zanosv. R y . Light Sc Power C o. and was then leased on June 23
1906 to the Indiana Colum . Sc E a st. Trac. C o. for length at franchise and
ronowals thereof. Rontal Is Interest on bonds, an amount oqual to 6 % on
the preferred stock and $500 for organization oxponsos. V . 83, p. 625.
Private right o f way from Newark to Zanesville; franchises on other linos
expire 1925 to 1928. Entire common stock is owned by Ohio Elec. R y . C o.
STOCK A N D BONDS—
Date. Interest. Outstanding. Maturity.
Com m on, $ 1,525,000 ($100)...............
' o ..................
P f, 0 % cum, $500,000 ($100).............
6 Q-J „
„ 500.000 _ S e e toxt.
1,250,000 M ch 1 1924
1st mtgo, $ 2,000,000, gold 1904 5 g M -S
In
t.
at
C
ol.-K
n
ick
.
T
r
.
C
o.
N
.
Y
. , trustee.
($1,000) ................................c*
1,207,000 M a y 1 1926
Gen & ref m tge, gold, $ 6 ,­ 1906 5 g M -N
250,000 ($ 1 ,0 0 0 )................c* In t. at Girard Trust C o ., Phila., Trustee.
1901 5 g M - N
1,243,000 N o v 1 1921
O B L Sc N 1st m tgo, $ 1 ,5 0 0 ,­
000, gold ($ 1 ,0 0 0 ).............c* Int. at C ol.-K n ick. T r, C o. N . Y . , trustee.
750,000
See text.
Zanesville R y , L t Sc Pow 1st 1902 5 g M -S
cons mortgage, $1,000,000 In t. at Cent. T r. & S. D . C o ., C ine., Trustee.
or Trust C o. of America, New York.
($500, $1,000), gold-------c*
Registrar, Guardian Trust & Safe Doposit C o ., Zanesville, Ohio.
Zanosv Elec 1st mtgo, $300,- f 1899 4 g F -A
250,000 Fob 1 1919
0 00, gold, subject to callilntorost at International Trust C o ., Boston,
after 1903, $1,000 e a c h ..c l
Trustee.
B onds.— O f the $6,250,000 gen. Sc ref. bonds, 33,497,000 are reserved to
retire prior liens and $1,546,000 for bqttormonts and extensions. They are
subject to call after 5 years at l0 5 and int.
Under torms of this m tge., none
of the $750,000 1st mtge. bonds unissued can now be issuod. Tho entire
Issue of Col. N ow . & Zanesv. 1st 5s can bo called at 110 and int. on any lnt.
dato. V . 80, p. 1234. Tho C ol. Buck. L . & N ow . bonds are subject to
call on any lnt. dato at 110 and lnt. on 3 months notico. Zanesville I t y .,
L t. & Power bonds fell duo O ct. 1 1912 but were oxtondod to M ar. 1 1924.
$250,000 reserved to retlro underlying bonds.
R O A D .— Operates 90.21 mllos of track from Columbus to Zanosvllle,
Including the city linns in Zanosvillo, Newark and Granville and a branch
to Buckeye Lako. Operatos lighting and power plants in Zanesville,
Standard gauge; 60 and 70-lb. T rail and 90-lb. girdor. Also owns amuse­
ment park on Buckeye Lake. Owns and oporatos Its Hebron powor plant
with its own natural gas.
•
O F F IC E R S .— Pres., D ana Stevens; V .- P ., W . A . Drapor; Sec. and
Treas., F , A . Healy.— V. 8 7 , p . 37: V . 95, p . 47 , 890, 1039.
(3) Lim a Electric R ailw ay & L ig h t.— A trolloy road.
Acquired by purchase by Ohio Electric R y . D ec. 31 1909.

May, 1914.]

ELECTRIC RAILWAYS

O R G A N I Z A T I O N .— The company Is a consolidation completed A u g . 1
1900 of the Lim a R y . (Incorporated N o v . 5 1896) and the Lima Electric
Light & Power C o. W as leased July 1 1905 to the Lim a & Toledo Traction,
which lease was assigned to Ohio Electric R y . A u g. 31 1907.
STO C K A N D B O N D S—
D a te . ■ In te re s t.
O u ts ta n d in g . M a t u r it y .
Stock, $5,000 ( $ 1 0 0 ) ....................................................
$5,000 -------------------

Lima Railway,
first m tg e ,/ 1898 5 g J-D
105,000 D ec 1 1910
$200,000, gold ($500)___c*\Int. at Citizens’ Savings & Trust C o ., C love.,
ITrustee; also at Fourth N a t. B ank, N . Y .
Lima Elec L t & Power, gold, ( 1900 5 g J-D
20,000 June 1 1917
1st M . $85,000 ($1,000) -C* ,Int. at Cleveland Trust C o ., C leve., Trustee.
Lima Electric R y & Light, 1900
5 g J-J
260,000 July 1 1916
gold,
rirst consol
consoi mortgage,
m ortgage, In t. at Cleveland Trust C o ., C leve., Trustee,
old, first
$500,000
($500)_________ c*
v500,000 ($500)..................c*
d consolm
ortgage, $850,000,1
2d
mortgage,
$850,000,

or Standard Trust C o ., New Y o rk.

1902 5 g A-O
350,000 A pr 1 1925
gold ($1,000)___________ c * (I n t . at Fidelity Trust C o ., B uffalo, Trustee.
Lima Elec R y & Light, r e f/ 1905
5 g M -S
515,000 Sept 1 1925
mortgage, $1,250,000, gold \ ln t. at Girard T r. C o ., Phila., P a ., Trustee.

Bonds.— O f the first consol, mtgo. gold 6s, $240,000 are reserved to retire
the abovo two prior liens. Th e Lima R y . bonds m ay bo called at par on 4
weeks’ notice. $10,000 retired D ec. 1 annually. Lima Elec. Light & Pow.
bonds m ay bo called on any lnt. day on 30 days’ notice. $5,000 retired
June 1 annually. O f the $850,000 2d consols, $500,000 are reserved to re­
tire a like amount of first consols. Those bonds are a lien on the electriclight and heating plant, as well as on the railway. Cannot be called before
m aturity. $735 ,00 0 refunding bonds are reserved to retire prior liens.
R O A D .— Owns 12 miles of track, also a steam-heating plant (franchise
perpetual, oporatod in connection with the electric-lighting plant). Con­
tract ordinance for city lighting expires April 1919.
O F F IC E R S .— Pres., Dana Stevens; V .-P s ., J. B . Foraker Jr. and W . II.
MacAllstor, Cincinnati; Sec. & Treas., F . A . H oaly, Cincinnati.— V . 8 1 ,
1 (4) Port W a y n e Van W e r t & Lim a T r a c tio n C o .— A trolley road.
O R G A N I Z A T I O N .— On M a r. 1 1906 was leased, until expiration of fran­
chises and ronewals thereof, to Lima & Tolodo Traction C o ., which guaran­
teed tho interest. V . 82, p. 691. Lease was assigned to Ohio Electric R y .
Aug. 31 1907. Tho latter company owns all tho common stock. Incorpor­
ated in Indiana and Ohio. Road is entirely on private right-of-way except
In towns, whore it has 25 or 50-year franchises.
STOCK A N D BON DS—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity
Com m on, $1,000,000 ( $ 1 0 0 ) - . ____
________
$1,000,000
Prof, $1,000 ,0 0 0 , 5 % n -c ( $ 1 0 0 ) ........
...............
1,000,000 ............. .........
First m tge, $2,000 ,0 0 0 , g old / 1905
5 g J-J
1,470,000 July 1 1930
guaranteed ($1,000)____ c*\Int. at Fidollty Trust C o ., Phila., Tru stee.
Bonds.— O f the $2,000,000 bonds, $530,000 are rasorvod for extensions
and improvements. V . 82, p. 691. Aro not subject to call.
R O A D .— 59.89 miles of electric track from F t. W ayno via New Haven
Monroeville, Van W ert, M iddlepolnt, Dolphos and Ellda to Lim a. Com ­
menced comploto operation N o v . 15 1905. Connects at F t. W ayne with
tho F t. W ayno & N or. Ind. Trac. and at Lima with the Ohio Elec. R y .,
and forms part of through lino from F t. W ayno to Toledo, D ayton and
Colum bus. Standard gauge, 70-lb . T rails.
O F F IC E R S .— Pras., Dana Stevens; V .-P ., W . A . Draper; Sec. and
Treas., F . A . Iloaly.— V . 82, p . 691, 804; V . 8 3 , p. 37.
(5) C in cin n a ti D ayton & T o le d o T r a c tio n C o .— Trolley road.
Leasod to tho Ohio Electric R y. C o .; see terms below.
O R G A N I Z A T I O N .— Incorporated in Ohio on M a y 19 1902, and is a con­
solidation o f tho Southern Onio Traction C o ., tho Cincinnati & North­
western R y ., tho M iamisburg & Germantown Traction C o. and tho H am il­
ton & Lindcnwald Elec. Trans. C o . V . 74, p . 8 84, 1037. F ranchises aro
for 25 to 50 years.
Lease.— W as leased to tho Cincinnati Northern Traction C o. M a y 1 1905
for length of franchise and renewals thereof. Lease transferred to Ohio
Electric R y . C o . Feb. 1 1908. After the Ohio floods in 1913 a lease was on
Juno 23 1913, by agreement with Ohio Electric I ty ., modified (seo V . 96,
p. 1556 ,18 39) to provido for payments as follows; (o) June 24 1913, $92,000;
(6) for years ending June 30, respectively; 1913-14. $266,500; 1914-15,
$266,500; 1915-16, $276,500; 1916-17, $286,500; 1 9 1 7 -18 ,82 96,5 00; 1918­
19, $306,500; 1919-20, $310,500; 1920-21, $326,500; 1921-22, $346,500;
1922-23 and thereafter, $366,500 yearly. D lv s. on any pref. stock that m ay
bo Issued boyond the $250,000 outstanding at time of agreement are to be in
addition to these payments. Lessee also pays $1,000 per annum for
lessor's organization expenses and another $ 1,000 per annum to bo invested
by lessor to meet future oxpenses.
Under modified agreement o f lease o f Juno 23 1913, outstanding common
stock was reduced from $5,00 0 ,0 0 0 to $ 2 ,000,000— tho Ohio Electric R y.
surrendering tho $1,000,000 held by It and tho other shares being exchanged
two for one. V . 96, p. 1556.
On M ar. 6 1914 a certificate was filed reducing tho capital stock from
$ 5 ,2 5 0 ,0 0 0 to $ 2 ,2 5 0 ,0 0 0 , consisting of $ 2 ,0 0 0 ,0 0 0 common and $250 ,00 0
preferred. V . 98, p . 838.
------------aO
---------D ale.
In te re s t.
O u ts ta n d in g .
M a tu r ity .
S T O C K ----------AND B
N DS—
J-J
S2,000,000 See text.
Com m on, $2,00 0 ,0 0 0 ($100)-. ____
J-J
250,000 Seo text.
Pref, $250 ,00 0, 5 % cum($100: ____
5 g
____
_ J-J
2,700,000 July 1 1922
Cincin D ay & Tol 1st cons M , , 1902
$5,0 0 0 ,0 0 0 , g ( $ l ,0 0 0 ) -.c * (Interest at Cleveland Trust C o ., Trustee.
5 g M -N
1,350,000 M a y 1 1920
Southern Ohio Trac 1st cons 1900
$2 ,0 0 0 ,0 0 0 ($1,000), goldc* Int. at Cleveland Trust C o ., Trusteo, or at
Standard Trust C o ., New York.
6 g J-J
400,000 July 1 1918
CIn A H am Elec 1st g ($500), 1898
$500 ,00 0, not subj to call— Int. at C it. Sav. & T r. C o ., Clovo., Trusteo.
5 g J-J
250,000 July 1 1910
D ayton Traction 1st M , g, 1896
___ , . _______________
($1,000),
int guar_______ c* lin t , at Finance C o of Penn., Phila., Trusteo.
nam & LIndenwald E l Tran) 1901 5 g J-D
250,000 July 1 1922
1st M s f $250 ,00 0, g ( $ 1 ,-) Interest at Cleveland Trust C o ., Trusteo.
000), lnt guar-----------------c * (
M iam & Germ 1st guar ( $ 5 0 ,-/ 1901
5 g J-D
50,000 July 1 1922
0 0 0 ), gold ($ 1 ,0 0 0 ).......... c*\Interest at Cincinnati Trust C o ., Trustee.
B o n d s — Nono of tho issues is subject to call. O f tho $5,000,000 Ctn.
D a y . & T o l. Trac. Issue, $ 2 ,300,000 Is reserved to retire prior liens. See
V . 81. p. 154.
, ,
„
,
O f tho $ 2 ,000,000 South. Ohio Traction bonds, $650,000 aro reserved to
retire CIn. & H am . Electric bonds and D ayton Traction bonds. Issuo
listed on Philadelphia Stock Exchange.
T h e H am . & Lind. Elec. Tran, and M iam isb. & Germ, bonds originally
fell due D ec. 1 1911, but arrangements were mado at that time to extend
them to July 1 1922. V . 93, p. 1386, 1387. Annual s in k in g f u n d of 5 % on
H am . & Lind, bonds began D ec. 1 1906, Increasing 1 % each year up to 1911.
D iv id e n d s .— 5 % per annum Is paid on tho pref. stock. On com ., under
modified lease, dlvs. aro suspended until year beginning July 1 1915, when
4 % will bo paid, this increasing f4 % annually until tho year beginning
illy 1 1921 (after a dividend rate of 3 % lias been reached), when the increase
Is 1 % per annum, until 6 % is reached in tho year beginning July 1 1922.
R O A D .— Owns 67.22 miles of electric track, connecting Cincinnati with
D ayton, incl. Germantown, M t . Healthy and Colicgo Hill branches; also
including tho Ham ilton C ity lines. 54 cars; 1 locomotive. Carries freight
and express.
O F F IC E R S .— Pres.. Theobald Felss; V .- P ., C . I I . Rombold; V .-P .
W . A . Draper; Sec. & T reas., F . A . Ilealy; Asst. Sec. & A sst. Treas.,
D . J. Downing, all of Cincinnati.— V . 8 1 , p . 154; V . 96, p . 1556, 1839;
V . 98, p . 838.

&

C O L U M B U S D E L A W A R E & M A R IO N R Y .— A holding com pany.
R eceivership.— Appointment o f Ell M . W est as receiver was affirmed
by tho Circuit Court at Columbus in all respects.
On Fob. 4 1913 Judgo Satcr in tho U . S. District Court dismissed tho
petition of Robert W . Bingham (V . 95, p . 4 80, 297) for tho appointment of
a new recoiver and tho foreclosure of tho m tgo. by tho Federal Court,
holding that tho matter was one of which tho State Courts had jurisdiction.
V . 96, p .6 5 2 .
,,,
„
Int. due A u g. 1912 was paid in Feb. 1913: Feb. 1913 int. was paid A ug.
1913 and Aug. 1913 lnt. was paid In Fob. 1914. Fob. 1914 int. will proba­
bly bo paid In A u g. 1914.
Personal Ju d g m e n t.— On M a y 13 1912 tho Court of Common Ideas of
Green C o. gavo a judgment to Receiver W est against John G . W ebb for
$1,055,931 as balance duo In suit brought for an accounting. H o (M r.
W ebb) was also held to bo further liable to tho C ol. Del. & M ar. R y .in
ovent of tho guar, of that company being held valid on bonds of 3 sub. cos.,
viz., $500,000 C ol. M a r. & Bucyrus, $200,000 M a r. & Westorn Ity ., L t. &
Power and $250,000 M a r. & Suburban R y. V . 94, p. 1448.
On Juno l l 1913 tho Clark County Court of Appeals affirmed tho Judg­
ment granted on M a y 13 1912. V . 96, p. 1700.
On Apr. 28 1913 Judgo Kinkead auth. receiver’s certfs. for $25,650 to
pay for repairs necessitated bo damago done by floods. Tho certificates,
It is statod, will bo given second preference In claims against tho receiver.
V. 96, p. 1296.




41

O R G A N I Z A T I O N .— Incorporated in Ohio in O ct. 1904 and owns the
entire capital stocks of the Columbus Delaware & Marion Electric R R . ($1 ,­
000 ,0 0 0 ), tho Marion R y ., L t. & Power C o. ($300,000) and tho Columbus
Northern R y ., Power & Equipment C o . ($300,000 ).
ST O C K A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .

C om m on , $ 2 ,iOO,000 ($ 1 0 0 ) .....................................

$2 , 1 0 0 ,0 0 0

_______

Pref “ A , 6 % cum , $ 5 0 0 , 0 0 0 - - ____
Prof " B , ” 1-6 % cu m , $400,000 ___
' .............................................................
First ref int go, $2.500 .0 0 0 .7 1904
5 g F -A
" 920.66o A u g ' Y 1944
gold ($500 & $ 1 ,0 0 0 )-------c* (In t. at Bankers’ Trust C o ., N . Y . , Trustee.
, . . o , r _Th? P,r,e f- ' ‘A '' and pref. “ B ” shares were created In 1908 (V . 86,
p. 1284), and dividends on both aro cumulative: but those on the “ B ”
shares aro entitled to only 1 % the first year, with an additional 1 % for each
year thereafter until 6 % Is reached.
Bonds.— O f the new ref. m tge., $ 1 ,580,000 are reserved to retire the bonds
of tho C ol. N or. R y P . & E . C o ., tho M arion R y ., L t . & P . C o . and the
O . D . & M . Elec. RR.
F o r year end- Jun0 30 1911, gross, $385,345; net, $161 .­
965; in t., taxes & c ., $157,662; surplus, $ 4 ,3 0 3 . For year end. A u g. 6
1910, gross, $359 ,13 7; net, $152,752; in t., taxes, & c ., $148 ,46 9; surplus,
$4 i2o<i •
O F F IC E R S .— A u d . for Receiver, A . F . Elkins: Pres., John G . W ebb ;
V .-P ., O . M . Gotschall; Sec., Henry B . H ane; T reas., N . J. Catrow; Supt.,
J. H . Lahrmer.— V . 95. p. 297. 480. 1331, 1472; V . 9 6 , p . 6 52, 1296, 1700.
(1) C o lu m b u s D elaw are & M arion Electric R R .
Interest duo N o v . 1 1912 was paid M a y 1 1913. In t. duo M a y 1913 was
paid in N o v . 1913. Tho N o v . 1913 int. was paid on M a y 1914.
O R G A N I Z A T I O N .— Incorporated in 1901.
BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
1st m ort., $ 1 ,0 0 0 ,0 0 0 , g old / 1901
5 g M -N
$ 1 ,000,000 M a y 1 1921
( $ 1 ,0 0 0 ) _________________ c * { l n t . at Cleveland Trust C o ., Cleveland,
I Trustee, or N a t. Bank of C om m , in N . Y .
B o nds.— See V . 75, p . 76.
R O A D .— Operates an electric railway over private right of way from
Columbus to M arion, passing through Franklin, Delaware and Marlon
counties. Also 4 miles in the C ity of Delaware, a total of 57 miles. V . 80,
p . 117; V 91. p. 945; V . 93, p . 1190.
(2) C o lu m b u s N orth ern R y. Power & E q u ip m en t C o .
O R G A N I Z A T I O N .— Incorporated in Ohio on O ct. 24 1904 to erect a
power house at Delaware and sub-stations to supply electricity for power
and heat. Receiver of Col. D el. & Marion R y . was authorized to borrow
monoy to pay interest due Sept. 1 1909. V . 89. p . 592. Interest since
thon has boon paid to Sept. 1913. Th e M a r. 1914 coupon was not paid
when duo, but is oxpeetd to bo within tho 90 days of grace.
BONDS—
D a te . In te re s t.
O u ts ta n d in g .
M a tu r ity .
1st mortgage, $300 ,00 0,
gold / 1904 5 g M -S
$270,000 Sept 1 1 9 3 4
( $ 1 ,0 0 0 ) ---------------------------- c (I n t. at G uaranty Trust C o ., N . Y . , Trustee.
(3) M arion R a ilw a y , L igh t & Pow er C o .
O R G A N I Z A T I O N .— Incorporated in Ohio on June 24 1903 and is a
consolidation o f the Marion Street Railway C o . and tho Marion Electric
Light & Power C o . Jan. 1914 interest not yet paid.
B ON DS—
D a te . In te re s t.
O u ts ta n d in g .
M a tu r ity .
1st m tgo, gold ($ 1 ,0 0 0 )— c * / 1904
5 g J-J
$300,000 July 1 1924
(In t. at Guaranty Trust C o ., N . Y . , Trustee.
B o n d s.— N o sinking fund and bonds cannot bo called.
R O A D .— Six miles of track In M arion. Standard gauge. 60 and 80-lb. rail.
C O L U M B U S M A R IO N & B U C Y R U S R Y .
O R G A N I Z A T I O N .— Incorporated in Ohio in M a y 1913 as a reorganiza­
tion o f tho Columbus Marion & Bucyrus R R ., sold under foreclosure per
plan V . 96, p . 1488, 1839.
STOCK A N D BONDS—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
Stock, $ 3 5 0 ,0 0 0 ...............................................................
$350 ,00 0 ............... ..

F irst m tgo, $100,000_____t f 1914

0

% g

100,000

1934

G o n & R e f M , $350,000. gold t f 1914 Seo text.
250,000
1944
B o nds.— The 1st M . 6s are rod. at 1 0 2 and int. on any int. da y. The
interest on the gen. & ref. m tge. bonds is 3 % for tho 1st & 2d years, 4 %
3d & 4th years and 5 % thereafter. $100,000 reserved to retire 1st M . bonds
V . 96. p. 1488. 1839.
O F F IC E R S .— Pres., G eo. W hysall; V .-P . & T reas., C has. Gallinger;
Sec., E . C . Oswald.

M A R IO N & W E ST E R N R A IL W A Y . L IG H T & P O W E R C O .

D e fa u lt.— Interest has been in default since Sept. 1906. Up to M a y 1914
no receiver had been appointed. Suit has been brought in Federal Court
at Cincinnati against tho directors o f the company for an accounting of the
proceeds of bonds.
O R G A N I Z A T I O N .— Incorporated in Ohio on Sept. 26 1906 to purchase
tho Prospect Electric Light C o. and to build from Prospect to Richwood
Ohio, 7 miles.
STO C K A N D BONDS—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
Stock. $2 0 0 ,0 0 0 ............... .......................
...............
$200 ,00 0 .......................
1st mortgage, $200 ,00 0, gold / 1906
5 g A -O
200.000
1936
($500)______________________ (Interest at Cincinnati Trust C o ., Trustee.
B o nds.— Subject to call after 1912 at 110. Sinking fund of $5,000 per
annum after 1912.
O F F IC E R S .— Pres.. N . J. Catrow: V .-P ., J. G . W ebb ; Treas., G . n .
n o lzb og; Sec., J. S. W ebb.

M A R IO N & SU B U RB A N R A IL W A Y C O .
R eceivership-— Int. duo O ct. 1 1909 is In default. In Feb. 1910 G eo. W h y ­
sall was appointed receiver. Suit has been brought against the directors
for an accounting of tho proceeds of bonds. U p to M a y 1914 suit had
not been tried.
O R G A N I Z A T I O N .— Incorporated In Ohio Sept. 25 1906 to build the
necossary extensions of trackage to the local M arion C ity lines demanded
by tho C ity of M arion. l \ 4 miles completed; none In operation; no work is
being done.
STOCK A N D B ON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
Stock, $250 ,00 0........................... - ..................... ...........
$250,000 .......................
First mortgage, $259,000,7 1906
5 g A -O
250,000
1936
gold ($500)_________________ (Interest at Cincinnati Trust C o ., Trustee.
llo n d s .— Subject to call after 1912 at 110. Sinking fund of $5,000 per
annum after 1912.
O F F IC E R S .— Pres., Geo. n . Holzbog; V .-P ., J. G . W ebb ; T reas., N . J.
Catrow; Sec., I I . B . Hane.

C OLU M BU S N EW A L B A N Y & J O H N ST O W N T R A C T IO N C O .— A
trolloy road.
O R G A N I Z A T I O N .— Incorporated In Ohio on M a y 4 1899. In M ay
1905 canceled old mtge. for $200,000 and made the new mortgage in table
below. V . 80. p. 2390. F ranchises are for 25 years.
ST O C K A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
Com m on, $400,000 ( $ 1 0 0 ) - - . .....................................
$200,000 - ............... —
Preferred, 6 % cum , $ 2 0 0 ,0 0 0 / ____
________
200,000 ____________
($100)................. - ............... — t
First m tge, $450,000, gold/ 1905
5 g J-J
N one. Jan 1 1925
($500 and $ 1 ,0 0 0 )---------n tf(P ro v . Sav. Bank & T r . C o ., C in e., Trustee.
R E P O R T .— For year ending June 30 1913, gross, $55,783; net profit.
$12,099; taxes, $1,501: balance, $10,598.
R O A D .— Operates 8 .8 miles of track from Columbus to Gahanna, includ­
ing perpetual lease of 2.7 miles of tracks o f the Columbus R y . as terminal;
gauge, 5 ft. 2 in.; 65-lb. T rail.— V . 8 2 , p . 1211; V . 91, p. 1160, 1629; V . 92.
p. 1032, 1498.

S C IO T O V A L L E Y T R A C T IO N C O — Third rail.

O R G A N I Z A T I O N .— Incorporated in Ohio with a perpetual charter In
1904. Built on private right of w ay. Franchises extend beyond maturity
of 1st mtge. bonds. In 1908 canceled $2,000,000 m tge. of 1903 and made
now mtgo. for $ 4 ,000,000, which see below. Stockholders voted Sept. 22
1908, authorizing $50O,O0O now 5 % f ir s t preferred stock, which ranks
ahead of old preferred stock (V . 8 7 , p. 481 and 615).
In 1912 tho Columbus Depot C o. was incorporated in tho interest of the
company to build a terminal In Columbus.
STOCK A N D BONDS—
D a te .
In te re s t. O u ts ta n d in g . M a t u r it y .
Com m on, $1,800,000 ($100).......................................
$1,800,000 ............... .... .
1st pref, $ 5 0 0 ,0 0 0 ,5 % cum ..................
Q-J
300,000 A p r ’ 1 4 ,l ) i
Pref, $ 1 ,200,000, 5 % c u m ( ____
Q-J
1,200,000 Apr '14,1 M
($100)............... ......................... J
1st m ortg, $4,000 ,0 0 0 , gold/ 1908
5 M -S
1,600,000 Sept 1 1923
( $ 1 ,0 0 0 ) ______________ c * t f lin t, at Harris T r. & Sav. B k .,C h ic ., Trustee.
B o nds.— Tho remaining $2,400,000 of 1st m tge. bonds can only bo issued
for 7 5 % of cash expenditures, aud for permanent extensions and additions

ELECTRIC RAILWAYS

42

[V o l . XCVIII.

to property, and only when net earnings are twice tho Interest charge on
outstanding bonds and those to be issued. Bonds have a s in k in g f u n d of
1 % per annum on bonds out 1913 to 1917; thereafter 2 % per annum. They
are not subject to call. See particulars, bonds, property, & c., in V . 87,
p . 679.
.
D iv id e n d s .— Dividends on old issuo of prof, stock were to accruo from
O ct. 1 1905. but amounts due Jan. 1 1906 and April 1 1906 were rolinciuished
by shareholders, and 1st div. ( 1 % % ) was paid July 1906 and 1 * 4 % O ct.
1906. V . 82. p. 1440. From 1907 to 1913, incl., 5 % per aunum . In
1914, Jan ., 1 * 4 % ; April, 1 * 4 % .
„
E A R N I N G S .— For 12 months ending Juno 30 1913, gross, $464 ,23 6; not,
$202,619; hit. and taxes, $98,670; d ivs., $75,000; surplus, $28,949 .
R O A D .— Operates 72 miles of track from Columbus to Lancaster and
from Columbus to Chillicothe. Is operated by third-rail system . Standard
gauge, 70-lb. T rail. W ithin city limits of Colum bus, company operates
over tracks of Columbus Ity. & Light C o . undor operating agreement.
O F F IC E R S .— Pres, and M g r ., Frank A . D avis; V .-P res. and T rcas.,
Edwin R . Sharp; Sec., A . C . Moorhaus; Su p t., C . Skinner.— V . 8 1 , p. 32,
778. 1551. 1661; V . 8 2 , p . 101. 1158. 1440; V . 87. p. 4 81, 615, 679; V . 91,
p. 871.

ownership of securities of certain local companies. Franchises of subsidiary
companies expiro in 1922. See V . 8 4 , p. 157. Shareholders in July 1909
authorized an issue of $2,000,000 first pref. stock and it was sold in blocks
ot 10 shares of first prof, and 4 shares of com . for $925. V . 89, p. 224. For
decision on occupation tax on Dallas stroct railways, seo V . 8 9 , p. 41.
On N o v . 23 1912 Judge I oree in the 14th D ist. Court granted a temporary
injunction to the Dallas Consol. Elec. St. R y ., enjoining tho enforcement
of the ordinance as passed at the special referendum election on April 2
1912, and which provides for the salo of 7 tickets for 25 cents and for only
3-cent fares where passengers have to stand. V . 95 p 1541 1472, 113.
On June 14 1913 the Civil Court of Appeals of the Fifth District affirmed
the decision of Judge Foreo (seo abo ve). V . 96, p. 1772. On M a r. 4 1914
tho Texas State Supremo Court at Austin declined to grant tho city’s appli­
cation for a writ of error to reviow tho decision of tho Civil Court of Appeals
of tho Fifth D istrict. V . 9 8 , p . 839.
1
ST O C K A N D B O N D S—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Com m on, $3,000,000 ( $ 1 0 0 ) - - ------------------$2,846,900 ____________
First pref, $2,000 ,0 0 0 , 6 % cum
( $ 1 0 0 ) ......................................................
A -O
1,991,400 Apr '14, 3 %
2d p f $2,000,000 5 % n-c ( $ 1 0 0 ) ------A -O
1,994.600 Apr T 4 , 2*4

CONCORD, N. H.

First coll trust m tge, $ 4 ,0 0 0 ,-/ 1902
5 g A -O
3,542,000 April 1 1922
000,gold ($ 100, $ l ,0 0 0 ) c * t f lin t , at Old Colony T r. C o ., Boston, Trustee.
N otes, $ 3 ,500,000, gold ($ 5 0 0 / 1912
5 F -A
1,000,000 Feb 1 1917
and $ 1 ,0 0 0 )__________ c * t f (In t. at American Trust C o ., Boston, Trustee.
___________
7 6 3 ,0 0 0 ,------------------N otes payablo M a r 31 1914_________
Slock a n d B o nds.— Tho first pref. is redeemable on and after O ct. 1 1912
at 105 and accumulated dividends. S in k in g f u n d , 1 % per atm. of bonds out.
$458,000 were held in tho sinking fund in M a r - 1914. Bonds can be
called as a whole on any Int. date at 105 and Int. $25,000 of tho bonds aro
in denom. of $100, rest being $1,000 each. Notes of 1912 aro callable as
a whole at 100 and int. on any int. day on 30 days' notico. N o further
mortgage can bo placed on property without equally securing tho notes
with the other obligations to bo secured thereby.
V. 94, p. 416.
D iv id e n d s .— On prosent 2d pref. (formerly “ prof.” ), In 1905, 2 * 4 % : in
1906, 5 % ; in 1907, April, 2 1 4 % ; none to Oct. 1909, when 2 % was paid;
1910, April, none; O ct., 1 % .
In 1911 and 1912, 5 % .
In 1913, April,
2 * 4 % ; O ct., 2 1 4 % • In 1914, April, 2 1 4 % .
E A R N I N G S .— -For 12 m os. ending Dec. 31 1913, gross, $ 2 ,193,500; net,
after taxes, $913,443; interest, $267,696; sinking fund, $35,275 ; dividends.
$220,000; surplus, $390,472.
R O A D .— Owns and operates 64-6 miles of track in the city of D allas and
suburbs. 204 cars. Standard gauge.
O F F IC E R S .— -Pres., Marshall M . Phinney; V .-P s ., Robert T . Paine 2d,
Robert H aydock and B . A .Pratt; Treasurer, Henry B . Sawyer; Secretary,
Chester M . Clark. Gen. M g rs., Stone & Webstor M g t. Assn.— V . 89, p.
4 1 ,2 2 4 ,7 7 8 : V . 91, p. 945; V . 93, p. 871; V . 94, p. 416, 910; V .9 5 .P .1 1 3 ,
1472, 1541; V . 9 6 , p . 1772; V . 9 8 , p. 8 3 9 .

D a l la s E le c tr ic C o r p o r a tio n —

C O N C O R D S T R E E T R A I L W A Y .— A trolioy road extending from the
central wards o f Concord to Penacook. Comprises 12.71 miles of track.
In June 1901 control passed to the Boston & M aine R R ., and in 1903 the
N ew Hampshire Legislature authorized tho Concord & M ontreal R R .,
which is leased to the Boston & M aine, to purchaso tho property and to
issue stock and bonds to pay therefor.

CORNING, N. Y.
C O R N I NO & P A IN T E D P O S T S T R E E T R Y .— A trolley road.
O R G A N I Z A T I O N .— Incorporated D ec. 11 1894. Commenced opera­
tion N o v . 1 1985. Control changed hands in 1904. V . 8 0 , p. 162.
ST O C K A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a tu r ity .
Stock, $100,000 ($100)...................... - ..........................
$100,000 1 9 0 5 -0 6 ,4 %
1st mortgage, $1 0 0 ,0 0 0 ---------/ 1896
5 J-J
100,000 Jan 1 1916
1 Interest at Beacon Trust C o ., Boston.
E A R N I N G S .— For year ending Juno 30 1913, gross, $72,649; net, after
taxes, $ 1 4,742 ; other income, $591; in t., rents, & c ., $ 9,805; surplus, $5,5 2 8 .
R O A D .— Owns 5.9 miles of track from Corning to Painted Post; 19 cars.
O F F IC E R S .— Pres., J. L . Greatslnger, Brooklyn, N . Y .; Sec., K . V .
Dougherty, New York; Treas., D . W . Bigonoy, N ew York; C o m p t., C .F .
Crawford, New Y o rk.— V . 80, p. 62.

cortlandT n . y

.

C O R T L A N D C O U N T Y T R A C T I O N .— Trolioy.
O R G A N I Z A T I O N .— Is a reorganization on Juno 22 1901 of the Cortland
& Homer Traction, sold at foreclosure on A p r. 23 1901. In June 1905 ab­
sorbed the Cortland & Homer Electric C o ., previously controlled. In M a y
1914 was furnishing 242 arc lights to tho cities of Homer and Cortland and
also light to the public. Carries coal and freight as well as passengers.
STOCK A N D BONDS—
D a le .
In te re s t. O u ts ta n d in g .
M a t u r it y .
Stock, com , S320,000 ( $ 1 0 0 ) - - ____
________
$320,000 .......................
7 1901 4 g -A -O
180,000 April 1 1921
First m tge, $180,000 ($500), ICounty Sav. B k. & T r. C o ., Scranton, P a.,
gold______________________ c*j
Trustee. In t. at c o .’s office. N o sink. fd.
I Can be called on 6 m onths' notice.
New mortgage, $500 ,00 0,
g / 1905 5 g F -A
320,000 Aug 1 1935
($500 and $ 1 ,0 0 0 )__c(Interest
at Empire T r . C o ., N . Y . , Trustee.
1st & ref m tge, $ 2 ,0 0 0 , 0 0 0 - - - I 1907 5 J-D
105,000 Juno 1 1957
(In t. at Equitablo T r . C o ., N . Y . , Trustee.
B onds.— O f the $500,000 Issue of 1905, $180,000 aro resorvod to retire
prior liens. They are subject to call at 105.
R O A D .— Operates 15.92 miles of track (not including sidings and turn­
outs) between Cortland, Homer, Little York and Preble, and between
Cortland and M cGraw vllle. H as 33 cars.
E A R N I N G S .— For fiscal year ending June 30 1913, gross, $83,362; net,
after taxes, $23,480 ; other incomo, $19,879 ; in t., rents, & c., $29,441; sur­
plus, $ 13,918 .
O F F IC E R S .— Pres., D . W . Van Hoesen; V .-P ., Edw . II. Brewer; Sec..
G . H . Garrison: Treas. and Gen. M g r ., Edwin D uffey.— V . 81, p. 507.

COVINGTON, KY.

T E X A S T R A C T IO N C O .— A trolley road.
O R G A N I Z A T I O N — Incorporated in Texas on Sopt. 25 1906. Franchises
expire in 1956 on streets and highways; rest of road built on privato right
o f way.
On April 16 1911 tho Texas Traction C o. acquired all the properties of the
Denison & Sherman R y . C o ., consisting of an intcrurban railway between
Sherman and Denison and city lines in both those cities. V . 92. p. 463.
STOCK A N D BON DS—
D a te .
In te re s t.
O uts ta n d in g .
M a t u r it y .
Com m on, $ 2 ,000,000 ($ 1 0 0 )------------- .............
$2,000,000 ............... ..
P f. $ 1 ,0 0 0 ,0 0 0 , 6 % cum ( $ 1 0 0 ) -----------1.000,000 M a r T 4 ,1*4
First mortgage sinking fu n d ,/ 1907
5 g J-J
2,060,600 Jan 1 1937
$3,000,000 ($ l,0 0 0 )g c * & r tf(ln t. at Old Colony Trust C o ., Boston, Trus.
2d m tge, $500,000 ($ 1 ,0 0 0 )- t f 1911
8 A -O
400,000 Apr 1 1916
Den & Sher first m ortgage,/ 1902
5 J-J
310.000 July 1 1927
$350,000 ($ 1 ,0 0 0 )____ c * tf I Int. at Harris Trust & Sav. I lk ., C hic., Trus.
Den & Sher second m ortgage/ 1911
6 A -O
185,000 April 1 1916
$185,000 ($ 1 ,0 0 0 )_______t f i l n t . at Western T r . & Sav. B k ., C h ic., Trus.
B onds.— O f the $3,000,000 Texas Trac. 1st M ., $1,000,000 is reserved for
future im pts. and extensions. Bonds can be called at 110 and accrued int.
on any int. date upon 36 days' notico. A s in k in g f u n d of 5 % of gross earn­
ings began July l 1912, to bo used in tho purchase of bonds; $ 5 9,000 hold
in sink. fund. Texas Trac. 2d M . bonds can bo called on any int. dato at
par and int. D en. & Sher. 1st M . bonds are subject to call on July 1 1917,
or after, at 105 and int. A s in k in g f u n d began July 1 1905 of 2 % per an­
num of bonds out until 1913, when amount payable is 3 % por annum until
1917; from 1918 to 1922, incl., 4 % per annum; 1923 to 1926, inch, 5 % per
annum. $62,000 aro hold in s. f.
D iv id e n d s .— Initial div. on pref.— 1*4 % — paid M ar. 15 1911; July, 1*4 % :
N o v ., 1 * 4 % ; none since until M ar. 1914 when 1 *4 % was paid.
E A R N I N G S .— For year ending D ec. 31 1913, gross, $720,926; net, $ 297 ,­
432; in t., taxes, & c., $181,819; surplus, $115 ,61 3. In 1912, gross, $ 6 0 8 ,­
649; net. $234 ,95 4; in t., taxes, & c ., $178,692; surplus, $56,262 .
R O A D .— Operates an intcrurban line between Dallas and Donison, 79.84
miles, of which 3 .45 miles aro over tracks of Dallas Consolidated St. Ity .,
2d main track, sidings and turnouts, 5.76 miles, and local street car lines
in Shorman, Donison and M cK in n ey , T e x ., Incl., sidings, & c., 9.77 miles;
total mileage, 9 5 .3 7 . Gauge 4 it- 8*4 in. 70-80-lb . “ T ” rail. 56 cars.
O F F IC E R S .— Pres., J. F . Strickland; V .-P s ., Osce Goodwin, J. S.
Hoard, VV. It. Brents; T reas., II. I. Gahagau; Sec., Jas. P . Griffin; Gen.
M g rs., J. F. Strickland C o — V . 84, p . 627; V . 87, p. 98; V . 88, p. 824:
V . 92, p. 463. 1567; V . 9 3 , p. 1192, 1535.

C IN C IN N A T I N E W P O R T & C O V IN G T O N L I G H T & T R A C T IO N
C O .— A trolley road.
O R G A N I Z A T I O N .— Incorporated under tho laws of Now Jersoy on
M arch 11 1902 and purchased all tho stock of tho Union Light, Heat &
Power C o. of Covington and of tho Cincinnati Nowport & Covington R a il­
w a y. V . 74, p. 576. The latter was organized in 1892 to buy up and con­
solidate all the roads on tho Kentucky side of tho river opposite Cincinnati.
Lease.— The Union L t ., H t . & Power C o. and tho Cine. Now p. & C ov.
R y . (both controlled through stock ownership by tho Cine. N ew p. & C ov.
L t. & T r.) were leased from Apr. 1 1907 to Columbia Gas & Electric C o.
(incorporated in Ohio) for 45 years. Tho lessoo guarantees interest on
bonds and 4 *4 % per annum on preferred stock. On common, dividends are
to be 3 % for first year, Increasing *4 % each year until 6 % Is reached, which
Is to bo the rate thereafter. Seo V . 84, p. 449, 930; also torms in V . 84, p.
SOUTHERN TRACTION CO.— A trolley road.
1489, under Columbia Gas & Electric.
O R G A N I Z A T I O N .— Ineorp. on M a r. 27 1912 in Texas. A new line
Th e controlled Cincinnati Covington & Erlanger St. R y ., which was in
corp. Sept. 1899 with $250,000 stock (shares $50), to build an extension to from Dallas to W aco (about 100 miles) was put into regular operation on
Erlanger, 7 % miles (about 3 miles completed) has also beon leased to tho O ct. 18 1913 (V . 97, p. 1 2 0 5 ,1 1 1 6 ). Tho branch irom Dallas to Corsicana
(34 miles) was put in operation Jan. 1 1 0 1 4 .
Columbia Gas & Electric.
Has taken over tho W aco Streot R y . C o ., which company had acquired in
F ra n ch ise Assessment S u stained.— M otion by South Covington & Cincin­
1911 the Citizens' R y. C o. Owns and operatos ontiro streot railway busi­
nati St. R y. to enjoin increase in franchise assessment in 1912 from $710,373
ness in W aco
Also owns real estato in heart of business district of W aco.
to $4,19 5 ,8 5 0 was denied in Feb. 1914. Seo V . 9 8 , p. 838.
In Oct 19i2 acquired, freo of all lions, & c., tho Dallas Southern Traction
S T O C K A N D B O N D S —D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y - C o .. 31 miles, between Dallas and Waxahaclilo, placed in operation O ct. 3
C o m m o n . $5,000,000 ($100)------------Q-J
$ 5 ,0 0 0 ,0 0 0 Apr 15’ 14,1*4
1912.
V . 95, p . 968. The Southern Truction C o. then increased tho auth.
Prof. 4 1 4 % non-cum, $5,-1
amount of its first m tge. from $7,500,000 to $10J)0(),000.
000,000 ($100).........................J ------414 Q-J
4,500,000 Apr 15’ 14,114
On Feb. 1 1913 acquired physical properties of Corsicana lransit C o ., a
U n d e rly in g Bonds—
ile streot railway.
.
.
... . .
„
So Cov&Cin cons M $ 5 0 0 ,0 0 0 / 1892
6 g J-J
150,000 Jan
1 1 9 3 2 3*4-m
In M a y 1912 entered into a 50-year contract with tho Texas Power &
gold ($500, $ 1 ,0 0 0 )________ (Covington Sav Bank & T r. C o ., Trustee.
Light C o ., under which the latter company will supply all tho power for
Newp & D ay St R y 1st M ____ 1887
6 F -A
100,000 Aug 1 1917 the Southern Traction C o .’s lines.
V. 9 4 , p. 1567.
C in c in n a ti N e w p o rt A Covington—
In N o v . 1911 subscriptions wore received at $85 per $100 share for 7 %
1st consol m tge, gold. $ 3 ,- / 1892
5 g J-J
2.750,000 July 1 1922 pref. stock; payments to bo made 1 0 % on demand, o0 days after construe000,000 ($ 1 ,0 0 0 )___c* & r._ (Farmers’ Loan & T r. C o. of N . Y .. Trustee.
tlon has commenced, remainder in 1 0 % installments as called at least 30
2d mortgage, $1,000 ,0 0 0 , g / 1896
5 g J-J
600,000 July 1 1922
apart.
V. 93. p. 1464.
- , _ .
_ , .
($1,000 each)_____________ clFarm ers' Loan & Trust C o ., N . Y . , Trusteo. days
ST O C K A N D B O N D S—
D a le .
In te re s t.
O utsta n d in g .
M a tu r ity .
U n io n L ig h t, H e a t A Pow er C o.—
m on. $5,000,000 ($ 1 0 0 ).......................................
$5,000,000
( 1901
4 g M -N
1,608,000 M a y 1 1918 Com
Pf. $2,506.66bT$Y6oy (See text) - - - ------2,000,000 --------- --------1st mtge, $2,0 0 0 ,0 0 0 , gold/ Int. at N a t. Bank of Commerco, N . Y .; First First m tge, $ 1 0 ,0 0 0 ,0 0 0 , g old / 1912
5 g J-D 1
6,000,000 Juno 1 1942
($100. $500 & $l,0 0 0 ).c& r|
National Bank, Cincinnati, or at German
($ 1 ,0 0 0 )________________ C*ttl Int. at St. Louis Union Tr. C o ., St. L ., Trus.
( National Bank, Covington.
Second mortgage, $500,000 t f / 1912
5 J-D 1
500,000 Juno 1 1942
Bonds.— O f the f ir s t consolidated bonds of 1892 of the C . N . & C . R y .,
($1 000) _
_ -C * lin t , at St. Louis Union l r . C o ., St. L ., Trus.
$250,000 are deposited with the trusteo to retire all the underlying mortgage
Stock.— Pref "stock”fs 7 % cum. from one year after road is in operation.
bonds. Tho perpetual charters o f constituent companies are kept alive,
B onds.— Remaining $ 4 ,000,000 1st M . bonds aro for extens. and impts.
and their capital stocks aro deposited with tho trusteo as collateral for the
certain restrictions. Both 1st and 2d M tg s. subject to call at 102*4
first consols. Interest on those bonds is payablo at tho National Bank of under
Commerce, New Y ork, First National Bank, Cincinnati, and German N a t. and int. on any int. date on or after Juno 1 1J15 and also for sinking fund on
or
after
Oct. 1 1918 at same price. Bonds to bo hold alivo in sinking fund.
Bank, Covington. T h e Union Light, Heat & Power C o. bonds can be
called at 110 and interest. O f these, $392,000 aro available for improve­ S in k in g f u n d of 1% por annum of bonds out begins in 1918. V . 95, p. 421.
Interest is payablo at office of trusteo or In New York.
ments. additions or purchase of other companies at par for actual cost.
R O A D .— Owns and operates 163.5 nines from Dallas to W aco, T e x ., and
D IV I D E N D S .— On preferred 4 1 4 % is being paid. On common stock from Dallas to Corsicana, which Includes the lino from Dallas to W axafirst dividend of *4 % was paid July 15 1907 and * 4 % O ct. 15 1907.
In
haciiie,
31 miles. Also owns and operates tho following local lines: W axa190S, 3 * 4 % ; in 1909, 3 M % ; in 1910. 4 * 4 % ; in 1911. 4*4 % : in 1912. 5 * 4 % .
In 1913. Jan ., 1 * 4 % ; A p r., 1 * 4 % ; July, 1 * 4 % : O ct.. 1 * 4 % . In 1914. liachie, 3.7 miles; Corsicana, 3.3 nines; W aco, 20.4 miles; total owned and
operated, 190.9 miles. Rails, 70 and 80-lb. 1 rails. Cars, 22 interurb.
Jan., 1 * 4 % ; April, 1 * 4 % .
R O A D .— Connects Cincinnati, N ow port, Covington. D ayton, Bellevue passenger motors; 12 trailers, 6 express cars; 2 work cars; 39 city cars.
Ludlow, Bromley and Fort Thom as. Total in operation, 60 miles; laid To ta l, 81 cars. Operated by overhead trolioy; power furnished by Texas
Power & Light C o .
•
, ,r
„
with 80-lb. Johnston girder and 72-lb. “ T ’ rails.
O F F IC E R S .— Pres., J. F . Strickland; V .-P s ., Osce Goodwin, C . W .
t- O F F IC E R S .— Pres., James C . Ernst; V .-P ., James M . Hutton; Sec.,
and Treas., George M . A b bott.— -V. 83, p. 1228; V . 84, p. 449, 930, 1366, Hobson. J. Leo Penn, F . N . Drane, VV. J. Neale; Treas., it . I. Gahagan;
Sec., Jas. P. Griffin; A sst. Sec., W . H . Painter.— V . 94, p. 1187; 1567;
1488; V . 88, p . 824; V . 92, p. 1313; V . 9 4 . p. 350; V . 98, p. 838.
V . 9 5 . p. 4 2 1 .9 6 8 . 1274; V . 96. p. 286: V . 9 7 , p . 1116, 1205.

DALLAS, TEXAS.
D A L L A S E L E C T R IC COM PA N Y .— Trolioy.
The Dallas Electric C o. was ineorp. in M aine on M a y 3 1913 with
$ 7 ,000,000 auth. cap. stock, as a re-incorporation ot Dallas Electric Corpoporation. V . 96, p. 1422.
► O R G A N I Z A T I O N .— Ineorp. In New Jorsey in 1902. Does an electric
railway and electric lighting and power business in Dallas by virtue of the




DANBURY, CONN.
D A N B U R Y & B ETH EL ST R E E T R Y .
O R G A N I Z A T I O N .— Ineorp. M a y 7 1886 under tho laws of C onnecticut.
Has a perpetual special charter, tho only streot car company serving tht,
city of Danbury and town of Bethel. Its lines also oxtendjto the.D anbu ry
Fair Grounds and the ploasuro resort of Lake Kcnosia.

May, 1914.

ELECTRIC RAILWAYS

STOOIC A N D B O N D S — •
D a te . In te re s t. O u ts ta n d in g . L a s t D ie . , A c .
Stock, $623,000 (par $ 2 5 )-J-J
$320,000 .Tan T 2 , 2 %
First m tge, $200 ,00 0, g o l d - . .
1894 5 g M -N
200,000 M a y 1 1914
Consol mtgo, $300,000, gold!
J906 5 g M -N
100,000 M a y 1 1936
and $ 1 ,0 0 0 )_________ lin t , at American Trust C o ., Boston, Trustee.
ire bonds, $75,0001 1908
6 M -S
75,000 M ar 1 1918
($1,000 and $ 5 0 0 ) -........-.c \ I n t . at C ity National Bank of Danbury.
Debenture bonds, $ 1 5 0 ,0 0 0 -- 1911
------------75.000 Jan 1 1921
B o nds.— O f the $300,000 consol, m tge., $200,000 Is reserved to retire the
5s duo 1914. The 1908 debs, are red. at 105 on any int. date after duo no­
tice. O f the 1911 debs., $75,000 are reserved for like amount of debs, of
1908.
D iv id e n d s .— In 1896-97, 4 % : in 1897-98, 4 % ; in 1898-99, 2 % ; in 1899­
1900. 1 > 4 % ; in 1900-01, 1 ) 4 % ; in 1901-02, 3 % ; in 1902-03, 3 % ; in
1903-04, 1 ) 4 % : 1907 to 1911, inch, 4 % ann.; in 1912, Jan ., 2 % ; none
since to Jan. 1914.
R O A D .— Trolley road in Danbury, and from Danbury to Bethel, and to
Lake Kenosia, 15.031 miles in all; sidings, & c., 1.044 miles; total, 16.075
miles. 42 passenger and 7 other cars. Standard gauge.
R E P O R T .— For year ending June 30:
Gross.
N e t.
I n t. & T a x c s .
D ie s .
B a l.. s u r.
1 9 1 2 -1 3 _________ $139,533
$35,594
$31,910
_______
$3,684
1 9 1 1 -1 2 _________ 138,023
40,029
31,814
6.400
1,815
O F F IC E R S .— Pres. & G en. M a n ., John Sanders; Sec. & T reas., S . W . C .
Jones.— V . 86, p . 1159.

S

L3

E A R N I N G S .— For year ending Juno 30 1913, gross, $20,597; oper. exp .,
$20,833; d e f., $237; taxes. $ 1,635; total d e f., $ 1,872.
R O A D .— Operates 18 miles o f track from Delaware to M agnetic Springs
and Richwood.
O F F IC E R S .— Pres., W . M . Galbraith. Pitts.; V .-P . and T reas., C .
M agee Jr., Pitts.; Sec.. C has. J. Fifer. Richwood, O .— V . 83, p. 1228, 1469.

DENVER, COL.

DENVER TR A M W A Y CO.
O R G A N I Z A T I O N .— Incorp. in Colorado and on M a r. 31 1914 acquired
by purchaso all the railway properties and franchises of the Denver C ity
I ram way C o . (which previously took over the Denver Tram way Power C o.)
and the Denver Tram w ay Terminals C o ., and has assumed all the funded
debt and other obligations o f these companies, as per plan under caption
o f Denver & Northwestern R y .” in V . 98, p. 1156. Owns all tho $ 500 ,00 0
stock of the unbonded Consolidated Securities & Investing C o ., which in
turn owns all outstanding bonds and stock of the Denver & Inter-M ountain
R R ., which C o . see below. Tho Denver & Northwestern R y . owns $ 9 .­
0 0 0 ,0 0 0 o f the common stock o f this (the Denver Tram way) C o. V . 9 8 .
p . 1071, 1156.
F ra n c h is e s .— The general franchises under which The Denver C ity T ram ­
w ay C o . operates its lines within the C ity o f Denver aro a franchise author­
izing it to operate and maintain cable and electric railways granted F eb. 5
1885, covering ail its present lines within the city— substantially 202 miles.
DAYTON, OHIO.
Also operates under a 20-year grant, voted by tho tax-paying electors
o f tho city in M a y 1906, which authorizes it to maintain three-rail tracks,
C I T Y R A I L W A Y C O .— A trolley road.
O R G A N I Z A T I O N .— Chartered M a y 12 1893. Is a consolidation o f the gauges 3 ft. 6 in. and 4 ft. 8 )4 in ., over all its present lines within the city
D ayton Street H R ., the D ayton & Soldiers’ Home R R ., tho Fifth Street and permits tho construction of certain viaducts and extensions. See de­
R R . and tho Green line. Franchises run for 50 years from Feb. 8 1892 and cision in V . 8 4 , p . 2 20. Under decision of the U . S. Circuit Court o f A p ­
peal on N o v . 11 1912 the franchise of 1885 was held valid, the Court de­
A lln *A p riM 9 i l paid a special dividend of $9.09 1-11 per share on com . ciding that in view o f the franchise o f 1906 it was unnecessary to pass upon
stock, applicable at option of holder to purchaso of additional com . stock
the duration o f the older franchise at that tim e. The company claims tnat
its franchise is perpetual. See decision in V . 95, p . 1472.
V . 02, p . 1178.
O u ts ta n d in g .
M a tu r ity .
STOCK A N D BONDS—
D a te .
In te re s t.
STOCK A N D BON DS—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
$2,400,000 M a r. T 4 ,2 %
Q -M
. .$----Com m on, $2,400,000 ( $ 1 0 0 ) . . ------Com m on stock $ 1 0 ,0 0 0 ,0 0 0 ___
1 0------,0 0 0 --,0 0 0
Pref stlc $ 3 ,0 0 0 ,0 0 0 (7 % c u m )______
Preferred, $600,000 ($100)..................
6 Q -M
600,000 M a r. '14,1)4
See text
____________
C onv gold bonds $3,000,0001 1914
6 A-O
Bond issues have boon paid off.
2 ,5 0 0 ,0 0 0 Apr 1 1919
D iv id e n d s .— 6 % per annum is being paid on pref. On com m on, in 1900
($100, $500 & $ 1 ,0 0 0 )______)
5 g M -N
to 1903, inch, 6 % ; also 16 2 -3 % ($250,000 in now stock at par or in cash), D cnv & N W R y 1st & coll M f 1902
1.0 8 7 ,0 2 0 M a y 1 1932
g $ 6 ,0 0 0 ,0 0 0 ($500 a n d )In t. at Bankers Trust COn New Y o rk,
declared N o v . 1903, paid Jan. 1 1904; in 1904. 6 % ; in 1905, 0 H % ; 1906 to
$1,000) _________________ c*l
trustee;
"
~
1910, inch, 7 % per annum; in Feb. 1907 paid a special dividend of 5 %
trustee; also
office
of co. in Denver.
Red. at 105 and int. on 90 days’ notice.
(V . 83, p .1 5 9 0 ) ; in 1911, Jan., 1J £ % : April, 1J£’% and special div. of
$9.09 1-11 (seeabove); July, 1 * A % \ O ct., I H % ; in 1912, Jan., 1 ^ % .
In Den C ity T r Co 1st & ref M [ 1908
5 g M -N
1 1 ,010,000 N o v 1 1933
$ 2 5 ,0 0 0 ,0 0 0 g ($500 andOlnt. at Bankers Trust C o ., New York,
M ar. 1912 began paying divs. Q .-M . instead of Q .-J . and on M ar. 31 paid
$1,000) sinking f u n d .. c*tfl
trustee, and in Denver.
1 M % : Juno, 2 % ; Sept., 2 % ; D e c ., 2 % . In 1 9 1 3 ,8 % . In 1914. M a r ., 2 % .
D
env
C ity ™---------------Tram purchaso
1899 |
5 g A -0
2 3 )00,000 Apr 1 1 9 1 9
E A R N I N G S .— For calendar year 1912, gross, $659,844; In 1911, gross.
money mtge g 82 ,0 0 0 ,0 0 0 ) Int. at Central Trust C o. N . Y . , trustee.
$652,125; in 1910, gross, $633,565; in 1909, gross, $575 ,82 2.
($500 and $ l , 0 0 0 ) . . c * t f (
R O A D .— Controls and operates in all 3 6 .8 5 miles o f track, namely: Third D cnv Cons Tram cons m tge) 1893
5 g A -O
1,167,000 Oct 1 1933
Street Lino, Fifth Street Line, Green Lino, K am m cr A v o. Line and D ayton
$ 4 ,0 0 0 ,0 0 0 gold________ n t f } In t. a t B k r s T r .C o .,N .Y .,t r u s t e e * in Denver
& Soldier's Homo Lino. Gauge 4 ft. 8 Ys in.; rails 70 and 80-lb. T and D env Tr Pow 1st impt m tgef 1903
5 g A -O
1,217.000 Apr 1 1923
70 and 90-lb. girder; operating 42 G . E . 67 and 50 G . E . 800 motor equip­
$ 1 ,5 0 0 ,0 0 0 g ($1,000) gu ar)In t. at Internat. T r . C o ., Denver, trustee,
ments; 100 motor cars, 10 trailer cars and 3 sprinklers.
principal and interest___ t fl
or Guaranty Trust C o ., New York.
O F F IC E R S .— Pros., E . D . Grimes; 1st V .- P ., C . B . Clegg; 2d V .-P . D env Tr Term 1st m tge $1 ,-f 1910
5 g M -S
1,333,000
See text
E . J. Barney; 3d V .-P ., G . G . Shaw; Sec., M . H all; Gen. Supt. & Purcli.
50 0 ,0 0 0 g ($100 & $ 1 ,0 0 0 )(Interest at Bankers Trust C o ., N . Y . , trusA g t., T . E . Howell. Office, Western and Auburn A v c s ., D ayton .— V . 83,
guar prin & int________ c * tf (. tee, and in Denver.
p . 1590; V . 92, p. 1178. 1564.
Stock.— $ 9 ,0 0 0 ,0 0 0 common owned by Denver & Northwestern R y . and
$ 750 ,00 0 is held for conversion of D env. Tram way conv. bonds, the remain­
D A Y T O N C O V IN Q T O N & P IQ U A T R A C T I O N .— A trolley road.
ing $ 250 ,00 0 being set aside for expenses o f organizing Denver T r . C o .
O R G A N I Z A T I O N .— This was formorly known as tho D ayton & Troy Preferred stock is reserved for conversion of bonds.
Traction, but namo changed to tho abovo in A ug. 1901. Tho D . & T .
B onds.— C onv. bonds are red. at par and accrued int. on O ct. 1 1915 on
Traction was incorporated in Ohio in Jan. 1900 to build a street railway 90 days’ notice. Convertible on or after A p r. 1 1915 until Apr. 1 1918,
from Dayton to T roy, but routo was changed, and road constructed from but not thereafter, into an equal amount o f 7 % cum. pref. stock, accom­
D ayton to Covington and Piqua, about 38 milos. Com pany acquired tho panied by common in amount equal to 2 5 % of tho face value of tho bonds
right to use tho tracks of the People’s R y. in entering city of D ayton.
converted. Tho Denver C ity Tram way C o ., prior to the sale o f its prop­
On Jan. 11 1913 tho P . S. C om m , granted permission to issue $40,000 erties, executed a m tge. upon all its physical properties (other than those
1st M . 5 % bonds.
formerly belonging to tho Denver & Northwestern R y . C o.) junior to tho
lien of its F ir s t * R ef. S. F . M tg e ., as additional security for the [$6,000,000]
STO C K A N D B O N D S—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity .
Stock auth, $600,000 ($100).......................................
$600,000 ....................... First & Collateral bonds o f tho D env. & Northwestern C o ., tho payment
Pref. 5 % n-c, $550,000 ( $ 1 0 0 ) ...................... .........
550,000 - .................... of which Northwestern bonds tho Denver Tram way C o . has assumed.
Denver C ity T r . C o . 1st & R ef. bonds aro red. at 105 & int. after 1913
First mortgage, $550 ,00 0. g ( 1902
5 g A -O
490,000 April 1 1922
up to N o v . 1 1923; thereafter at 102)4 & int. on 60 days’ notice. S in k in g
($ 1 ,0 0 0 )____________ c * -n t f \ I n t. at Old Colony T r. C o ., Boston, Trustee.
f u n d of 1 % of bonds out begins N o v . 1 1914 until and incl. N o v . 1 1923;
Second mortgage, $ 6 0 ,0 0 0 -n t f ------6 g M -S
60,000 Sept 1 1919
thereafter 2 % of bonds out. Th e D env. T r . Pow. C o . 1st Im pt. M tgo.
B onds.— $100,000 1st mtgo. bonds aro roservod for extensions and im ­
bonds are subj. to call any int. date at 105 and i n t ., s in k in g f u n d of $5 0 ,0 0 0
provements; 2d mtgo. bonds are subject to call on any int. date at 105.
per annum, to retire bonds at 105 and in t., commenced in 1908, and $ 2 8 3 ,­
E A R N I N G S .— For year ending Juno 30 1913, gross, $146 ,91 2; not, 000 have been retired. In t. payable in N ew York and Denver. The re­
$57,158; interest and taxes, $38,336; surplus, $18,822.
maining D cnv. T ram . Term . C o . bonds are for im pts. They mature
R O A D .— Total track 38 miles. Standard gauge. 70-lb. T , 80 and 90- $ 6 0 ,0 0 0 annually Sept. 1 1916 to 1940. R ed. as a whole on any int. day
at 105 & int. on 30 days’ notice. V . 98, p . 1156.
lb. girder rails.
10 passengor cars, 2 express cars and 5 other cars.
E A R N I N G S .— O f com bined system before c o n s o lid a tio n for years ending
O F F IC E R S .— Pros., D . Dwyer; V .-P . & Gen. M g r ., Thos. T . Robinson
D ec. 31:
Su pt., T . J. Brennan.— V . 77, p. 146.
S in k .F u n d
*F ix e d
N e t . P o w .B o n d s. Charges.
G ross.
S u rp lu s .
D A Y T O N & T R O Y E L E C T R IC R Y .— A trolloy road.
1912......... ________ $3,422,372
S I ,708,472 $50,000 $ 1 ,127,040 $531,431
O R G A N I Z A T I O N .— Incorp. 1900. Is built on both public and privato 1911
....... ________ 3 ,421,854
5 0,000
1,094,943
1,687,153
542.210
right of way. Completed In D ec. 1901. Rails, 70-lb. T . Power house
5 0,000
1,015,834
670.073
1,735,907
locatod at Tippecanoe C ity, Ohio. Stock, $500,000 ($100) com . auth. and 1910......... ------------- 3 ,595,158
941,940
703,359
1,695,299
5 0,000
issued and $800,000 ($100) 5 % cum. pref. auth.; $645,400 issued. Ohio 1909......... ------------- 3,374,133
N o te .— On D ec. 14 1910 a destructive fire destroyed the main shaft and
Public Service Commission has granted permission to issue $300,000 5 %
cum . pref. stock ($145,200 issued) to pay outstanding bills for im pts. already workings of the Leyden mines, which were then producing 1,000 tons per
mado; V. 95, p . 1744. N o bonds contemplated. In M a y 1902 took over day. This resulted in a loss of all tho freight business and much passenger
M iam i Valley R y . under 99-year lease at a rental o f $ 9,600 per a nn., which is business during all tho year 1911. New fireproof shafts were placed in
operation, with largely increased capacity, on A p r. 22 1912.
applicable to stock of $ 3 0 0 ,0 0 0 , mortgage having been canceled.
* Fixed charges include taxes and franchise payments.
D iv id e n d s .— On tho prof, stock 5 % per annum is being paid. On com .,
Jan. 1 1904, 2 % ; in 1905. 6 % ; in 1906, 6 % ; in 1907, 2 % ; in 1908, none; in
(1) D enver & In te r-M o u n ta in R R .
1909. 5 % ; in 1910, 6 % ; in 1911, 5 % ; in 1912, M a r ., 1 \ i % . In 1913, Sept.,
Controlled by tho Consolidated Securities & Investing C o.
1 ) 4 % : D oc., 1 M % E A R N I N G S .— For calendar year 1913, gross, $298,514: net, $96,433;
O R G A N I Z A T I O N .— Incorporated in Colorado about O ct. 29 1907 as
deductions, $41,729; divs., $50,918: surp., $ 3,786. In 1912, gross, $ 286 ,­ Inter-M ountain R y ., but on April 2 1909 changed namo to prosont title.
935: net, $82,181: deductions, $30,146; divs., $36,5 0 0 ; surplus, $15,535 .
Private right of w ay. F ranchises in Denver and Golden are perpetual.
R O A D .— Owns and operates 36.41 milos of track (13.12 m . double, 18.25 Has passenger arrangements with Denver C ity Tram way for interchange of
miles single, 5.04 miles sidings) between Dayton and T roy. Leases the transfers on Denver C ity lines; also has contract for use o f tramway c o .’s
M iam i Valley I ty ., extending from Troy to Piqua and comprising 13.88 tracks in entering Denver. Has freight traffic agreements with Denver
miles of track. Total track, 50.29 miles.
& N . AV. R y .
O F F IC E R S .— Pres., H . P. Clegg; V .-P ., C has. B . Clegg; Sec.. L . O.
STOCK A N D BONDS—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Clegg; Treas. & Gen. M g r., R . A . Crume; A u d ., F. Sprague. Goneral Stock, $1,000,000 ($100)________ _
________
$1,000,000 .......................
office, Tippecanoe C ity, Ohio.— V . 94, p. 123; V . 95, p. 1744.
Inter-Mountain R y, 1st m ort-( 1908
5 g J-J
500,000 Jan 1 1938
gage, gold, $750,000 ($ 1 0 0 )Interest at Continental Trust C o ., Denver,
and $ 1 ,0 0 0 )___________c * t f l
Trustee, or Bankers Trust C o ., New Y o rk.
D A Y T O N S P R IN G F IE L D & X E N IA S O U T H E R N R Y — Trolloy.
Bonds aro callable at 105 on any interest day after 1913.
O R G A N I Z A T I O N .— Incorporated in 1909 as successor to tho D ayton &
Xenia Transit C o ., sold at foreclosure. Stock, auth. and outstanding,
R O A D .— Operates from Denver to Golden and from Barnum Junction to
$200,000 com . and $.300,000 pref. Par $100.
1st M . auth. and issued, and around Barnum Loop. M ain track, 15.25 miles; total track, inch 2d
$ 500 ,OO0. Earnings for year ondlng Juno $0 1911, gross, $149,383; not, and leased track and sidings, 24.13 miles. 40, 75 and 80-lb. T rail. Stand­
$37,877; Intorest and taxos, $33,334; surplus, $4,543.
ard gauge.
•
R O A D .— Owns and oporatos 40.47 milos of track from D ayton to X en ia
O F F IC E R S .— Pres. & Gen. M g r ., W m . G . Smith; V .-P . & Asst. Sec.,
and from D ayton to Spring Valley. Pros., C . J. Fornoding; V .-P ., T . A .
A . O . M ontgom ery; T reas., F . G . M o ffa tt.— V . 94, p . 207; V . 97, p . 1203;
Forneding; See. & T reas., H . L . Ferneding, all of D ayton .— V . 8 9 , p. 285. V . 9 8 , p. 1156.
O A K W O O D S T R E E T R A I L W A Y C O .— A trolloy road.
O R G A N I Z A T I O N .— Incorporated July 22 1870 in Ohio. F ra n c h is e ex
pires 1941. In Oct. 1909 tho Ohio Supremo Court held tho franchise valid
over tho objections o f the C ity Solicitor. Stock auth. and outstanding,
$500,000 (par $100). N o bonds. Operates 8 miles of track In D ayton anu
suburbs. Standard gauge. Pres. & Treas., Charles B . Clegg, D ayton;
G en. M g r ., Henry Gobhart, D ayton.

DELAWARE, OHIO,
C O L U M B U S M A G N E T IC S P R IN G S & N O R T H E R N R Y .
O R G A N I Z A T I O N .— Incorporated in Ohio on O ct. 15 1906. and is a
consolidation of tho Delaware & M agnetic Springs R y . and tho Richwood
& M agnetic Springs R y. Privato right of way oxcept in C ity of Richwood.
Road out or business from March flood to July 19 1913.
S T O C K A N D B O N D S —• D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
Com m on, $200,000 ($100)............................................
$130,000 .......................
Prof, 6 % n-c, $ 2 0 0 ,0 0 0 .................. ..
...............
100,000 .......................
C M S 4 N 1st M , $100,000, g f 1906
5 g M -N
250,000 N o v 1 1931
($1,000), cannot bo called,] Intorest at Colonial Trust C o ., Pittsburgh,
and no sinking f u n d ..c * t f I Trustee.




D E N V E R & N O R T H W E S T E R N R Y .— A holding com pany.
O R G A N I Z A T I O N , & c.— In M a r. 1913 a syndicate headed by Boettcher,
Porter & C o . of Denver acquired a controlling interest through purchase of
the stock (about $ 1 ,600,000) held by Marsden J. Perry of Providence,
this purchaso making its total holdings about a 7 5 % int. V . 96. p . 863.
This com pany, since the plan in V .9 8 , p . 1156. went into effect,, is simply
a holding company, practically its only asset being the $ 9 ,0 0 0 ,0 0 0 common
stock of tho Denver Tram way C o ., which is pledged as security for tho $ 6 .­
0 00,000 1st & C oll, bonds of this co ., and its only liability being $6 ,0 0 0 ,0 0 0
of its capital stock outstanding in the hands of tho public, tho payment of
its bonds having been assumed by tho Denver Tram way C o .
S T O C K A N D B O N D S .—
D a le . In te re s t. O u ts ta n d in g .
M a tu r ity .
Stock $ 6 ,0 0 0 ,0 0 0 ($100).........................
Q-J 10
$6 ,0 0 0 ,0 0 0 Apr T 4 , 1 %
First and collateral m tge (assumed by D env. Tram . C o .— see above).
D iv id e n d s .— Prior to July 1909 dividends were at rate o f 6 % per annum.
In July 1909 quar. div. was increased to 2 % and same amount paid quar­
terly to July 1913. In O ct. 1913 rate was reduced and 1 % was paid
(V . 97, p. 1115). In 1914. Jan ., 1 % ; A p r., 1 % .
I N D E X .— V . 94, p. 413. 1383. 1763; V . 9 6 , p. 1863. 1628; V . 97, p .2 3 6 .
2 98, 594, 1115; V . 98, p . 1071, 1156.

ELECTRIC RAILWAYS

44

DERRY, PA.
W E STM O R E LA N D C O U N T Y R A IL W A Y CO.
O R G A N I Z A T I O N .— Incorporated in Pennsylvania on D ee. 27 1904. Ia
a consolidation of the Bradenville & Derry Street Ity. and tho Blairsville &
Derry Street R y .
STOCK A N D BON DS—
D a te .
In te re s t.
O u ts ta n d in g .
M a t u r it y .
Stock, $500,000 ($ 5 0 )------------------------------------$ §00,000
First mortgage, $25 0 ,0 0 0 , g / 1905
5 g M -S
208,000 M ar 1 1935
( $ 1 0 0 ) ..“ _ _______________ c*\ In t. at East End Sav. & T r . C o ., P itts., Trus.
B o nds.— N o sinking fund, and bonds are not subject to call.
E A R N I N G S — For year ending Juno 30 1913, gross, $47,886 ; net.
$13,464; interest and taxes, $15,248 ; deficit, $1,7 8 5 .
R O A D .— Operates 7 miles of track.
O F F IC E R S .— Pres., John E . Potter; V .-P s ., F . W m . Rudell and J. A M cC om b ; Sec., (vacant); T reas., J. G . Vilsack, all of Pittsburgh, S u p t.,
S . F . Schwerdt, D erry.— V . 8 2 , p . 50.

DES MOINES, IOWA.

[V o l . XCVIII.

On April 7 1913 the citizens voted in favor o f an amendment authorizing
the city to acquire by purchase or condemnation or construction, and to
own and maintain and operate street railways and to issue bonds to pro­
vide for cost thereof. See V . 96, p. 1088.
Validity o f M u n ic i p a l O wnership A m en d m en t.— Seo "M ich ig an ” in "S ta te
and C ity ” D epartm ent, pago 405.
Tem porary A greem ent toith C ity.— On A u g. 8 1913 tho Com m on Council
rescinded the ordinance adopted O ct. 26 1909 fixing tho rental on lines on
which franchises had expired at $300 per d a y , and adopted tho recommen­
dation of M ayor M arx for a temporary agreement for the settlement of
existing differences, i. e. (V . 97, p. 443):
1. A rate of fare (put into effect A u g. 15 1913) of 7 tickets for 25 cents
on all city lines, 5 cents for single cash fares with right of transfer, working­
m en’s tickets (unchanged) at 8 tickets for 25 cents for two hours each
morning and ovening.
2 . Th e proposed crosstown line on or near Junction A v o ., to be construct­
ed; also connect the M ack A v e. and M yrtle A v e. lines, as proposed, and
other extensions (seo V . 97, p . 443).
3 . $75,000 to be paid to tho city for Fort St. lino privileges since July 24
1910; also to pay all back taxes. It is claimed by tho C ity Treasurer that
tho back taxes aggregate $500 ,00 0.
,
.
4. The company to be relieved of the payment of $300 per day in consider­
ation of the foregoing.
,
„
, „
. . ,
5. The existing rights of city or the railway shall not bo Impaired by this
temporary agreement. V . 9 7 , p. 4 43.
,,
N ew N o te s .— In Jan. 1914 the company sold $ 2 ,000,000 2-ycar 6 % notes,
to bo dated Feb. 5 1914, subj. to approval of M ich . R R . C om m . V . 98.

D E S M O IN E S C I T Y R A I L W A Y C O .— A trolley road.
In M arch 1911 N . W . Harris of Chicago acquired practically all tho
stock not previously owned by him of the Des Moines C ity R y . C o . and
of its allied corporation, tho Inter-Urban R y . C o . V . 92, p. 794.
O R G A N I Z A T I O N .— A consolidation in 1893 of tho D es M oines S t. R R . P 'B a ck T axes P a id .— On O ct. 14 1913 taxes aggregating $323,592 (incl.
C o . and tho D es M oines Suburban R y . C o . Is authorized to carry freight. $64,814 int. at 6 % ) were paid to tho C ity Treasurer in pursuance of tlio
F ra n ch ise D e c is io n .— On M arch 22 1913 the Supremo Court of Iow a, re­ recent settlement with the city (see above and V . 9 7 . p . 4 4 3 ).
1 he $7o,000
versing the decision of Judge Applegate of tho D ist. Court of Dallas CO. on for back rental on Fort St. was also paid. V . 97, p. 1115.
D ec. 2 1910 (V . 9 1 , p. 1574), held that the company’s franchises under the
W age A g reem en t.— For agreement ending difficulties with the m en, see
Turner ordinance of D ec. 10 1866 expired Jan. 1 1898, instead of being per­ V . 94. p .1 5 0 7 . Seealso V . 97, p. 1357.
„
, r ,
petual, as claimed by the company. Th e company has been granted two
STO C K A N D BON DS—
D a te.
Interest.
O utstanding.
M a tu r ity .
years within which to negotiate with the city for a now franchise or to dis- Stock, $12,500 ,000 ($100)............... ..
Q -M $12,500 ,000 June 14, 1)£
oso of its property. See V . 9 6 , p . 9 47. On Feb. 28 1914 tho Illinois Trust
st consol m tge. $ 2 5 ,000 ,000 , f 1902
4 ^ g J-J 14,586,000 Jan
11932
; Savings Bank of Chicago, as mortgage trustee, brought suit in tho U . S.
gold ($1,0 0 0 )____________ c*{ Guaranty Trust C o ., N . Y . , Trusteo. In t.
District Court to restrain the city authorities from ousting tho company
I at Agency Bank of M ontreal.
from tho streets on tho ground that the company is operating under a Coll gold notes $2,000,0001 1914
6 % F -A
2 ,000,000
1916
perpetual grant from tho city. V . 9 8 , p . 763.
.
,
red on 30 days at 102 & int. J
Guarantees the Inter-Urban R y . C o . 1st M . bonds, prm . and int. See
Detroit United R y . stock and bonds have been listed on tho Now York
below.
Stock Exchange.
. ,
Bon ds.— O f tho $ 25,000,000 first consolidated mortgage bonds authorized,
ST O C K A N D B O N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
$8,880,000 aro reserved to retiro underlying liens and $ 1 ,5 3 4 ,0 0 0 aro in
$ 1 ,055,000 ................. - ­
Com m on, $3 ,0 0 0 ,0 0 0 ($1 0 0 )...............
treasury. Entiro issue or any part thereof is subject to call at any time
Pr of, 6 % non-cum , $2 5 0 ,0 0 0 -------------------- - - ............. 250,000 . . . . — - - 6 g A -O
227,000 Oct 1 T 4 to at 105 and interest on 60 days noMce. See V . 73, p. 1111. Collateral
Des Moines Street R R 1st M , f 1889
gold ($1,000 each)...........n t f {
(See text)
Oct 1 1919 for tho notes of 1914 includo bond of tho company and of its subsidiaries
(Cont .&Com m .Tr .&Sav .BIc . , Chic.,trustee. aggregating $ 6 ,7 5 0 ,0 0 0 .
D etro it E lectric.
D e s Moines Sub R y 1st m tge, I 1890
6 g J-J
260,000
Jan 1921
gold ($1,000 e a c h )_ .c * .n tf{In te r e s t at Chemical N a t Bank, N Y C ity .
D a te.
Interest.
Outstanding.
M a tu rity .
1 Trusteo, Iowa Loan & Trust, Des M oines. Detroit R y 1st M , g ($1,000) f 1895
5 g J-D
$1,700,000
1914-1924
Des Moines C ity R y ______n t f 1893
6%
4,000 M a y 1 1923
on 56.34 miles________ c*& r(Interest at Cleveland T r. C o ., Trusteo.
Des M oines C ity R y rofund’g f 1901
5 g A -O
2,413,000 April 1 1921
Dotroit Electric con M , $ 2 .-[ 1896
5 g J-D
1,100,000 Juno 1 1916
m tge,
$3,0 0 0 ,0 0 0 ,
g o ld lln t. at Harris, Forbes & C o ., N . Y .; also
800 000. K ($ 1 .0 0 0 )--C * & rU n t. at Cleve. T r . C o ., Trustee. As to D ec.
($1,000) - .......... ......... c * - n t f {
Harris T r. & S. B k .. Chic. Trusteo, 111. T r .
’
’ 8
l
1897 interest, seo V . 6 5 . p . 1219.
I & Sav. B k . and W m . H . Honkle of Chic.
Bonds — First mortgage bonds of tho Detroit R y . numbered 1 to 600 m a­
Bonds.— O f tho refunding m tge. bonds of 1901, $496,000 are reserved ture in order of numbers at $50,000 por annum, beginning D oc. 1 1912;
to retire tho underlying 6s outstanding. O f tho $ 2 ,413,000 5s reported numbers 601 and abovo mature D ec. 1 1924; $100,000 have been retired.
outstanding, $135 ,00 0 are in the treasury and $5,000 have been deposited Detroit Electric consols for $1,700,000 aro reserved to retiro tho first
with Illinois Trust & Savings Bank to bo held in lieu of the $4,000 Des mortgage bonds as they mature.
Moines C ity R y . 6s still out. Bonds can be called on any int. date at 106
D etro it Fort W a y n e & B elie Isle,
and int. Sink. fd. $10,000 yearly on April 1 from 1906 to 1910, $15,000
st m tge, gold, $ 1 ,2 0 0 ,0 0 0 / 1898
5 g A -O
$1,200,000 April 1 1928
from 1911 to 1915 and $25,000 from 1916 to 1920. Tho remaining bonds
($1 000)
c*& r(N ow York Trust C o ., Trusteo. Subject to
m ay only be issued to pay for not exceeding 8 0 % of cost of extensions, pro­
’
I call at 105 and Int. on 60 days’ notice.
viding net earnings are 5 0 % in excess o f interest charges upon all bonds
Interest at K ean, Van Cortlandt & C o ., Now Y o rk.
outstanding, including those to bo issued. Tho D es Moines Street R R .
D etroit & N orth w estern R y.
1st M . 6s aro due $ 25,000 annually from O ct. 1 1914 to O ct. 1 1918 incl.
st mtge, $ 1 ,000,000, gold/ 1901
4 M B M -N
$855,000 M a y 1 1921
and $ 1 0 0 ,0 0 0 due O ct. 1 1919.
„
($100, $ 1 ,0 0 0 )....................c*(Interest at Union Trust C o ., Detroit, Trust.
R E P O R T .— For year ending M a r . 31 1914, gross, $1,317,143; net,
Bonds.— Aro guar., p. & L, oy Detroit United R y . by end. and aro sub­
after taxes, $ 3 93 ,93 4.
„ ^
,,
,,
R O A D .— Operates 95.1 5 miles o f track. 35 to 129-lb. rails. 137 ject to call at 105 and Int. on 60 days’ notice. See V . 7 3 , p. 494.
passenger and 17 service cars.
D etroit & P o n tiac R y.
O F F IC E R S .— P res., Em il G . Schmidt; Sec., O . I I . Bernd; T rea s., F . M .
st mortgage, $ 5 0 0 ,0 0 0 , g old / 1897
5 g F -A
$500,000 Feb 1 1 9 2 2
Harris; A sst. S e c., E . P . Sm ith.— V . 8 6 , p. 546; V . 8 8 , p. 1313; V . 8 9 , p . 224
( $ 1 ,0 0 0 ) ................................c * { Washington Trust C o ., N . Y . , Trustee.
V . 9 1 , p . 1574; V . 9 2 , p . 794; V . 93, p . 4 0 7 . 588; V . 95, p . 818; V . 96, p . 9 4 7 ;
[Interest at Peoplo’s State B ank, Detroit.
_______
1st con m tge, gold ($ 1 ,0 0 0 ),/ 1901
4M g J-D
600.000 June 1 1926
V . 98, p. 763.
$1,100,000 ___________c*& r\Int. at Washington T r . C o ., N . Y . , Trustee.
Bonds.— $500,000 consolidated m tge. 4 H % bonds aro reserved to retire
I N T E R -U R B A N R A I L W A Y C O .— A trolley road.
like amount of 1st m tge. bonds. Bonds aro subject to call at 105 and inter­
O R G A N I Z A T I O N .— Incorporated in Iowa to construct a system of est on 60 days’ notice after Juno 1 1911. Principal and interest of both
Intorurban roads connecting with Des M oines. T h o D es Moines C ity R y . issues guaranteed by Detroit United by endorsement.
C o . guarantees the bonds, principal and interest.
W y a n d o tte & D etroit River R y.
STO C K A N D BO N D S—
D a le .
In te re s t.
O u ts ta n d in g .
M a tu r ity .
1st consol, m tge, $ 4 2 5 ,0 0 0 / 1898
5 g J-D
$425,000 D ec 1 1 9 1 8
$1,160,000
Stock, $ 1 ,200,000 ($100)________ _________________
($1,000),
gold___________c*[Interest
at Union Trust C o ., Detroit, Trustee
1st mortgage, sinking fu n d ,' '1901
5“ g A‘ -O
'1.160,000 April 1 1921
D etro it & F lin t R ailw ay.
gold ($ 1 ,0 0 0 ), guaranteed C ont. & C om m . T r . & Sav. B k ., C h ic., Trus.
The Detroit & Flint Ity. was organized to acquire tho Detroit Rochester
p. & i. by Des M oines C ity In t. at Harris, Forbes & C o ., Now Y o rk, and
Romeo & Lako Orion, together with tho N or. D ot. Elec. R y . and tho D et.
Harris Trust & Savings B ank, Chicago.
R y ___________________c * . n t f
Utica & Romeo R y . Tho consol. M . is a 1st lion on those last two prop’ties.
V . 95, p. 818; V . 9 6 , p . 947.
D a te.
Interest. Outstanding.
M a tu r ity .
__________ $350,000 ($ _1 ,0 0 0 / 1913
6 J-J
$250 ,00 0 Jan 1 1923
Debentures,
D R R & L O R y 1st m tgo.f 1900
5 g J-D
$1,100,000 Juno 1 1920
and $ 5 0 0 ) ......................... n t f [ I n t . at Harris T r . & Sav. B k ., C hic., Trustee
sinking fund, gold ($1,000) ,/ Interest at American Trust & Savings Bank,
B onds.— Other bonds m ay bo Issued for acquisitions and extensions at
$1,500,000; unissued bonds I Chicago, Irusteo; also Guaranty Trust C o.
not over 8 0 % of cost and at not over $16,J00 per mile for new road, but only
hiivo hunn p.Tnpplpfl
fi* I N©\V YorK.
when net earnings equal 114 times all int. charges on bonds out and those to
Detroit & F l i n H s t ^ ‘s 3l M , / 1901
5 g F -A
$1,400,000 Aug 1 1921
bo issued. Bonds are subj. to call at 105 and int. A s in k in g f u n d of 5 %
g , $3,000,000 ( $ l , 0 0 0 ) --C * (I n t . at T r . C o of America, N . Y „ Trusteo.
of bal. of annual net earns., after payment of all charges, became operative
B onds.— O f tho consolidated m tge., $1,100,000 aro rreroved to retiro
April 1 1906, and bonds so purchased aro to be kept alivo for purposes of tho
fund; $ 1 1 ,0 0 0 is held in sinking fund,included in am t.outstanding above. bonds of like amount of tho D . R . R . Sc L a lm O .R y . and $500,000 have been
conceled. Consolidated bonds aro subject (;® bay aJ 190 and interest
Debentures aro red. on any int. date at 101 and int.
E A R N I N G S .— For year ending D ec. 31 1913, gross, $331,264: net, after on 60 days’ notice. Both issues are guaranteed by tho Detroit United
R y .; see form of guaranty in V . 76, P- 1^00. fws a,cltlitiona,l collateral
taxes, $ 9 5 ,8 2 7 . In 1912, gross, $299,819; net, after taxes, $84,3 0 0 .
R O A D .— Operates 74.7 6 miles of track (incl. sidings) connecting D es security” on tho Flint bonds 1st consol. 4 H % bonds of the Detroit United
M oines and C olfax, D es M oines and Perry, with branch to W oodward. are deposited, $ for $ , with tho Guaranty 1 ™ st Co 'o f Now Y o rk , and would
Standard gaugo; 60 and 70-lb . T rail. 12 pass., 132 freight, 5 service cars; be available in the event of default on the Dotroit & I lint bonds.
R E P O R T .— Annual report of tho Dotroit United R y . for tho year ending
4 locomotives; 2 express and 2 caboose cars.
Cars enter D es M oines over
tracks of Des M oines C ity R y .
D ec. 31 1913 was published In V . 9 8 , p. 682.
O F F IC E R S .— Pros., Em il G . Schmidt; S e c., O . H . Bernd; T reas., F . M . D etroit U nited R y .. R apid R y. S y s ., S a n d w . W in d . & A m h crstb . R y ..
Harris.— V . 7 4 , p . 680.
D et. M onroe & T o !. S h . Lino R v- » nd D e t. Jack. & C h ic.
1913.
1912.
1911.
1910.
Revenue
passengers____ 2 4 0 ,940 ,133 208,538 ,594 182,612,786 195,920,753
DETROIT, MICH.
Transfer passengers____ 74,83 0 ,2 8 5 H ’393.877 o 3,652,879 48,237,720
D E T R O I T U N IT E D R A I L W A Y .— (.See M a p p a g e :4 5 .)— Trolley.
Gross earnings__________$12,723 ,829 $ 11.69.>,530 $10,253,134 $9,345,219
8,694,231
7 ,730,40J
6,o80,042
5,981,065
O R G A N I Z A T I O N .— Incorporated in Michigan D ec. 31 1900 and took Operating expenses____
over franchises aud properties of the Detroit Citizens’ Street R y ., tho D e ­
N ot earns, from oper.. $4 ,0 2 9 ,5 9 8 $3,965,121 $ 3 ,673,092 $3,364,154
troit Electric I t y ., tho Detroit F t. W ayn e & Bello Isle and tho Detroit Sub­
251,937
2 0 8 ,8o7
178,813
152,768
urban. V . 72, p. 4 4 , 183. Embraces all tho street railway lines in Detroit. Inc. from other sources..
Later absorbed by purchase tho Detroit & Northwestern R y ., which Is
Inc. from all sources.. $4,28 1 ,5 3 5
173,978
851,905 $3,516,922
known as the Orchard Lake division, tho Detroit & Pontiac R y ., known
as the Pontiac division, tho W yandotte & Detroit River R y ., known as the Interest and taxes______ 2,1 5 1 ,0 5 8
,?.’ i o r ’ nnn
2,030,622
(5)625,000
(5)625,000
_______
W yandotte division, and the Detroit & Flint, formerly the Detroit Roches­ D ivid end s..........................(6 % )7 5 0 ,0 0 0
Deprec’n charged off.___
6 0 0,000
4 0 0,000
400,000
ter Romeo Sc Lake Orion R y ., and known as tho Flint division.
100,000
100,000
----------100,000
Owns entiro capital stock of tho Detroit & Port Huron Shoro Line (Rapid Contingent liab. reserve
Railway System); Sandwich Windsor & Amherstburg R y . (acquired in
Total deductions____ $3 ,5 0 1 ,0 5 8 $3,34 8 ,5 1 3 $ 3 ,148,398 $2,530,622
Aug 1901): Detroit M onroe & Toledo Short Lino R y. (acquired in Feb.
$780,477
$825 ,46 5
$703,507
$986 ,30 0
1906) and tho Detroit Jackson & Chicago R y . Tho last-named is a re­ Surplus incomo____
D IV I D E N D S .— First dividend of
Detroit U idtedstock was paid
organization of tho Detroit Ypsilanti Ann Arbor & Jackson Ity ., tho Jack­
son Ann Arbor & Detroit R y . and the Detroit Plym outh & NorthviUe R y ., M arch
‘
" '
...................
was :
which were acquired in Jan. 1907.
_ ,
.
.
m a r. i y u , wnen
In A ug. 1901 purchased 180 shares (all) of the stock of tho C ity Electric 1907, F e b .. 1 M % : M a y , 1 > £ % ; A U g., u r / ? ,
1 K % was paid; same amount quar. to and incl. Dec. 1912. In M arch
R y . and tho Peoplo’s Electric Light plant of W indsor, Ont.
1913 rate was increased to \ 'A % quar.; same am t. quar. to & incl. Juno 1914.
O rdinance D efeated.— A t referendum election on Jan. 23 1912, the pro­
R O A D — On Jan. 1 1914 operated 801.902 miles of track, as follows :
posed ordinance (V . 93, p. ll9 0 ) passed by tho Council Jan. 16 1912, looking
to tho settlement of all differences between tho city and tho com pany, Detroit U nited, Including W yandotte & D etroit River R y ., Detroit &
Northwestern, Detroit & Pontiac, Detroit & H in t, 441.597 miles; Dotroit &
was defeated. V . 94, p. 278.
F ra n ch ise D e cisio n .— On O ct. 2 1912 tho M ich. Supremo Court, in a deci­ Port Huron Shoro Line, 132.726 miles; Sandwich W indsor * Amherstburg
sion affirming that of tho W ayne C o . Circuit Court, held that tho com­ R y ., 39.931 miles; Detroit M onroe & Toledo Short Lino, 79.51 milos Detroit
pany lias no right to continue to operate its cars in Fort S t ., tho 30-year Jackson & Chicago R y ., 108.138 miles. Rails, 7 7 . 85 and 98 -lb . steel. Does
franchise originally granted having expired. Tho Court also holds, how­ an express service. lia s 1,405 closed passenger cars, 264 open passenger
ever, that the city m ay not fix an arbitrary rate of rental for tho uso of the cars, 254 freight and construction cars, 36 lino cars, 69 express cars, 16 mis­
street, but has the right to compel tho company to vacate streets upon cellaneous cars, 2 locomotives, 3,913 motors and 3,027 trucks. There are 11
which franchises have expired. Suit was remanded to lower Court for power houses, with a combined capacity of 6 7,290 h . p ., 2 storago batteries,
further proceedings. V . 95, p. 890. On April 26 1913 tho U . S . Supreme with a combined capacity of 4,500 amperes and 23 sub-stations with a
Court affirmed tho decision as outlined above. V . 96, p. 1556. 947.
combined capacity or 20,850 k.w .

S




1

1

1

1

M ay , 1914]

ELECTRIC RAILWAYS
M A P OF TH E

DETROIT UNITED RAILWAY SYSTEM
INCLUDING
D E T R O IT

& PORT

HURON

SH O R E L IN E

RY.

(RAPID RAILWAY SYSTEM)
SANDWICH, WINDSOR & AMHERSTBURG RY.
THE WINDSOR & TECUMSEH ELECTRIC RY. CO
DETROIT, MONROE & TOLEDO SHORT LINE RY.
DETROIT, JACKSON & CHICAGO RY.




vy

45

ELECTRIC RAILWAYS

46

OFFICERS.— Pres., J .O . Hutchins, Detroit; V.-Ps., Arthur Pack, De­
troit, E. W. Moore, Cleveland, and A. J. Ferguson, Montreal; Treas.,
George II. Russel, Detroit; Sec., A. E. Peters, Dotroit; Gen. M gr., F. W .
Brooks, Detroit. General offices, 12 Woodward Ave., Detroit.— V . 94, p.
123, 207, 278, 416. 485, 767, 1507; V. 95. p. 110, 890. 1683; V. 96. p. 419.
4 8 3 , 947,1088,1556,1628; V. 97, p. 443, 1115; V. 98. p. 235, 386, 452, 682 .
(1) D etroit & Port Huron Shore Line R y.— A trolley road.
Entire outstanding capital stock is now owned by the Detroit United Ry.
O R G A N IZA T IO N — Incorporated in May 1900. Is a consolidation of
the Rapid Railway Co., the Detroit M t. Clemens & Marine City lty. (the
purchaser of the properties of the M t. Clemens & Lakosido 1 raction Co. and
the Detroit & River St. Clair R y .), the Port Huron St. Clair & Marine City
R y., tho Connors Creek & Clinton Rivor Plank Road Co. and the City
Electric Ry. of Port Huron. The new company owns the capital stock of
each road. The consolidated company operates all the tracks in M t. Clem­
ens and Port Huron, and the through route from Detroit to I ort Huron
running through M t. Clemens, New Baltimore. Algonac, Marino City ana
St. Clair. Also owns the capital stock ($25,000) of the Detroit & Lake
St. Clair Ry.
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity.
$2,000,000 ---------------Stock, $2,500,000 ($100)_________ ____________
1st mtge, $2,500,000 ($1,000) / 1900
5 g J-J
1,897,000 Jan 1 1950
cannot be called, gold.c*&r{Union Trust C o., Detroit, Trustee.
/Int. at American Exch. Nat. Bank, N . Y .
Bonds.— Of the new 1st mtge, $603,000 is set aside to retire underlying
liens (namely the bonds of the Rapid Ry. and the Port Huron St. Clair &
Marine City R y.). Of the $1,897,000 bonds reported outstanding, $125,­
000 were on Doc. 31 1912 held in the treasury o f the Detroit United.
Rapid Railway.
BONDS—
Date.
Interest. Outstanding. Maturity.
5 M-S
$300,000 May 1 1915
First mortgage, $300,000 1895
($1,000).......................... c* Int. at Finance Co. of I’ enna., Phila., Trus.
5 g M -N
$300,000 May 1 1916
First Consolidated mortgage, 1896
_
_ Int. at Finance Co. o f Penna., Phila., Trust.
$600,000. gold................
c*
Of tho consol, mortgage bonds of 1896, $30",000 are reserved to take up
the outstanding first mortgage bond3.

EARNINGS.— For year end. June 30 1913, gross, $107,045; net, $24,474.
ROAD.— Operates 31 miles o f road between Doylestown and Easton.
Operates 8 cars.
OFFICERS.— Pres., A. H. Sickler, Phila.; V.-P., Amos Johnson; Sec.
W . S. Chambers, Doylestown; Treas., II. G. Rush, Lancaster.— V. 85, p .
470; V. 94, p. 699, 1057.
___________

DU BOIS, PA.
DU BOIS ELECTRIC & TRACTION CO.— A trolley road and electric­
lighting plant.
ORGANIZATION.— Tncorp. in New Jersey on Nov. 15 1901 as the Amer­
ican Town Light Co. and name changed later as above. Is a consolidation
of the Du Bois Elec. Co. and the Du Bois Trac. Co. V. 76, p. 972. Fran­
chises for both street railway and electric-lighting are perpetual and exclusive.
Tho United Traction St. R y. (which is a consolidation in 1908 of the
United Trac. St. Ry. and United Trac. Exten. St. R R .), with S200.000 of
5% bonds and $200,000 stock, which operates a line 14 miles from Du Bois
to Sykesville and Big Run, is controlled and owned by same interests that
control the Du Bois Elec. & Trac. Co.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock, $300,000 ($ 1 0 0 ).......................................
$300,000 ................ 5 g M -N
297,000 May 1 1932
Collat trust mtge, $300,000/ 1902
($500), g o l d ...................c*\Int. at Knickerbocker Tr. Co., N. Y ., Trus.
Bonds.—'No sinking fund, but subject to call at any time at 105 and int.
EARNINGS.— For year ending June 30 1913 (United Trac. St. R y.,)
gross, $46,563: net, $20,133; othor income, $819; charges and taxes, $11,­
494; surplus, $9,458.
ROAD.— Operates 19 miles (including United Trac. St. Ry.) in Du Bois
and extensions to Fall Creek, Sykesville and to Big Run, whero connection
is made with tracks o f the Jefferson Traction Co. Standard gauge; 60 and
70-lb. girder and T rail.
OFFICERS.— Pres., Austin Blakeslee; V .-P ., Walter Hatten; Sec. &
Treas., M . I. McCreight, all of Du Bois.— V. 89, p. 1667.

P o r t H u r o n S t. C la i r & A la r in e C it y R a ilw a y .

BONDS—
Date.
Interest. Outstanding. Maturity.
1st mortgage, gold, $300,0001 1900
5 M -S
$3,000 Mar 1 1920
($500 and $1,000)________ /Union Trust C o., Detroit, Trustee.
Tho remaining $297,000 bonds have been canceled.
D e t r o it & L a k e S t. C la i r R y . C o .

[ V o l . X C V III.

DUBUQUE, IOWA.

UNION ELECTRIC CO. IN IOWA.— Trolley.
ORGANIZATION.— Incorporated in Iowa in 1900 as a consolidation of
the Home Electric C o., the Dubuque Street Ry. and the Star Electric C o.,
which constitute the entire electric light and street railway properties of tho
city o f Dubuque, Iowa. Franchises mature 1927. Extension to Eagle
Park was made under a 25-year franchise dating from 1912, % mile. On
the two-mile extension on West Locust St., franchise is for 25 years from
1913.
STOCK AND BONDS—
Date.
Maturity•
Interest. Outstanding.
Common, $1,000,000 ($ 1 0 0 ) .-----4 Q-J
$805,000
See text
Preferred, $1,000,000 ($100)
See text
6% cum............ - - - .......... --.
- - - - monthly
807,000
----------First mortgage $980,000 gold/
1904 5 g M -N
875,000 May 1 1924
($1,000).......................c * tf (Int. at I. 'Ir. & Sav. Bk., Chicago, Trustee.
Bonds subj. to call at 105 and int. Sinking fund of $15,000 per annum
began April 30 1908. , $105,000 have been retired.
Dividends.— Monthly divs. of >*% on prof, have been paid since July
1907. On coni., first div., 1% , paid July 1911; same rate has been paid
quarterly since.
.
EARNINGS.—'For cal. year 1913, gross, $472,553; not, after taxes,
$192,923. In 1912, gross, $442,948; net, after taxes, $174,291.
ROAD.— Owns and oporates 19.7 miles of track on 14H miles of streot in
Dublinuo. West Dubuque and to Union and Nutwood parks, also to Eagle

BONDS—
Dale.
Interest. Outstanding. Maturity.
1st mortgage, $400,000, gold! 1900
5 g A-O
$390,000 April 1 1920
($1,000)________ ______ c*/Int. at Union Trust Co., Detroit, Trustee.
Bonds.— Tho bonds aro guaranteed, principal and interest, by the Detroit
& Port Huron Shore Line R y., the Rapid Railway Co. and tho Dotroit Mt.
Clemens & Marine City Ry. They aro not subject to call. Of tho $390,000
reported outstanding, $100,000 were held by the Det. Unit. Dec. 31 1913.
ROAD.— Total Det. & Port Huron System, 132.24 miles.
EARNINGS.— Now Included in report of Detroit United R y.— V. 77, p ­
34; V. 84. p. 338.
(2) S a n d w ic h W in d s o r & A m h e r s tb e r g R y . — Trolley.
ORGAN IZATION .— Incorporated under special charter from Province
o f Ontario. Owns entire capital stock ($100,000) of tho Windsor & Tecumseh Electric Ry. Entire stock of Sand.Winds. & Amh. is owned by Det. Un.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Stock, $350,000 ($100)................... ’ ..........
$297,000 ...............
Consol Mtgo, gold, $600,0001 1902
41* g J-D
490,000 Dec 1 1922
in i o i ‘> *vn#1 h n s nnnt.rafifc w it h t,hn nlfcv
curm iirim *
gold ($1.000)__________ c*/Natlonal Trust Co., Ltd., Toronto, Trustee. n - i - i .
Wind & Tec El, $300,000,1 1907
5 g M-S 2
189,000 Sept 2 1927
gold ($1,000) gu p & i__c*/National Trust C o., Ltd., Toronto, Trustee.
Bonds.— S. W. & Amh. bonds are subj. to call after Dec. 1 1912 at 105. m ilo on
Windsor & Tecum, bonds are guar., p. & 1., by Sand. Windsor & Amherstb. progress.
Ry. They are red. on and after Sept. 2 1917 at 105 and int. on 60 days’
O F F I C E R S — P res., F . D . S to u t, C h ic a g o ; V . - P . , D . D . M y e r s ; S ec. and
notice. Interest on both mortgages is payable at company’s office.
Tre-is
I R L in d s a v , R a ilw a y E x ch a n g e , C h ica g o ; G e n . M g r ., E . M .
ROAD.— Operates 38.28 miles of track in and between Windsor, Walker- W a l k e r . - V 71, P 264 3; V . 8 4 , p . 1553; V . 8 6 , p . 983.
villo. Sandwich and Amherstberg, including City Ry. o f Windsor (2.52
miles), operated under lease.— V. 75, p. 1303, 1400.

DULUTH, MINN.

(3) D e t r o it M o n ro e & T o le d o S h o r t L in e R y .

In Feb. 1906 entire stock was acquired by Det. Unit. Ry. V. 82, p. 392.
In Jan. 1914 tho remaining bonds of the $3,000,000 mtge. were sold.
V . 9 8 ,p.235.
ORGANIZATION.— Incorporated in Michigan on Dec. 11 1902.
Maturity.
STO C K AN D BON DS—
Dale.
Interest. Outstanding.
S t o c k , $ 3 , 0 0 0 , 0 0 0 _________ ________ __________________

ist

mortgage,

g o ld

$3,000,000,1 1903

5 g J-J

$ 2 , 5 8 1 ,0 0 0

3,000,000 Jan 1 1933

( $ 1 , 0 0 0 ) .........................c * / U n i o n T r u s t C o . , D e t r o i t , T r u s t e e .

Bonds.— Interest is payable in New York.
aro not subject to call.

No sinking fund and bonds

R O A D . — O p e r a t e s 5 0 m ile s o f r o a d f r o m T o l e d o t o D e t r o i t a n d 4 m ile s i f
r o a d f r o m M o n r o e t o L a k o E r ie ; c o m p l e t e d N o v . 5 1 9 0 4 .
A t T o le d o c o n ­
n e c t i o n is m a ilo w it h t h e L a k e S h o r e E l e c t r i c R y . f o r C l e v e l a n d .
Is o f
s t e a m r o a d c o n s t r u c t i o n , o n p r i v a t e r ig h t o f w a y ; s t a n d a r d g a u g e , la id w it h
7 < H b . T r a ils .
T o t a l t r a c k , 7 6 .7 0 m il e s .— V . 8 2 . p . 3 9 2 ; V . 9 8 , p . 2 3 5 .

(4) Detroit Jackson & C hicago Ry.
O R G A N I Z A T I O N . — A h o l d i n g c o . o r g a n iz e d In M i c h . In 1 9 0 7 b y D e t r o i t
U n it e d in t e r e s t s t o t a k e o v e r t h o D o t . Ypsil. A n n A r b o r & Jack. R y . , t h e
J a c k . A n n A r b o r & D e t . R y . a n d t h o D o t . P l y m . & N o r t h v lU e R y . , p a y i n g
t h e r e fo r $ 1 , 2 3 0 ,0 0 0 .
E n t i r e s t o c k o w n e d b y D e t r o i t U n it e d R y .
STO C K A N D BON DS—
Date.
Interest. Outstanding. Maturity
S t o c k , $ 2 5 ,0 0 0 ( $ 1 0 0 ) ...................... ..
.................
$ 2 5 ,0 0 0
F i r s t c o n s o l m t g e , $ 4 , 0 0 0 ,0 0 0
*1907
5g F-A
1,400,000 Feb 1 1937
( $ 1 , 0 0 0 ) , g o l d ------------------c * Int. at Security Trust C o., Detroit, Trustee
1st c o n s M D e t Y A A r& J a ck
1901
5g F-A
1,610,000 Feb 1 1926
$ 2 ,6 0 0 , 0 0 0 ( $ 5 0 0 ,$ l , 0 0 0 ) g c * Int. at Detroit Trust C o., Detroit, Trustee
D Y & A A r 1st M ( $ 6 0 0 ,0 0 0 )
1897
6g M -N
600,000 Nov 1 1917
g o l d ($ 5 0 0 o r $ 1 ,0 0 0 e a c h ) . Int. at Union Trust C o., Detroit, Trustee
1899
6 g F-A
330,000 Feb 1 1924
D e t Y p s & A n n A r c o n s 1st M
$ 1 , 0 0 0 , 0 0 0 , g ($ 5 0 0 & $ 1 . ­ Int. at Union Trust Co., Detroit, Trustee
0 0 0 ) s in k in g f u n d a n n u a lly
6 J-J
60,000 July 11919
Y p s i l a n t i & S a lin e 1st M

Of the new Det. Yps. & Ann Arbor & Jackson 1st M . of $2,600,000
$990,000 are reserved for underlying liens. First consols cannot be called
See V. 75, p. 666.
, ,
Bonds.— Bonds of Det. Jack. & Chic, aro subject
to call on any Interest
day at 105 and int. Guar., p. & i., by the Detroit United Rys.; enough
bonds are reserved to retire bonded debt of the Det. Yps. Ann Arbor Sc Jack.
R y. V . 85, P- 345. Of the amount reported outstanding, $520,000 were
on Dec. 31 1913 in tho Detroit United treasury.
R O A D .— Completed and in operation from Detroit (through Wayne and
Ypsilanti) to Ann Arbor and to Jackson; making mileage 100 miles, of which
40 miles over private right of way. Total track, 108.05 miles. Rails 70
and 75-lb. T girder. Does a freight businoss.— V . 79, p. 269; V . 81. p
1723; V. 84, p. 51, 450. _______ ______________

DOYLESTOWN, PA.
PHILADELPHIA & EASTON ELECTRIC R Y . C O .— A trolley road

DULUTH-SUPERIOR TRACTION.— Trolley.
O R G A N I Z A T I O N .— In c o r p o r a te d in C o n n e c tic u t in 1897. O w ns en tire
Stock o f tho D u lu th Street R y ., the L a k e sid e S treet R y . an d the S up erior
R in irl T ra n sit
T h o co r p o r a te existen ce o f th e D u lu th S treet R y . is m a in Gained, b u t a U o f i t f s t ^ k ($ 2 ,0 0 0 ,0 0 0 a u th o rize d $1 8 00 ,000 ou tsta n d in g)
is held b y th o D u lu th -S u p e rio r T ra ctio n .
I his latter c o m p a n y has n o
b o n d e d d e b t . T h o D u lu th Street R y . w as organ ized und er A c t o f M in n e ­
s o ta a p p ro v e d N o v . 17 1881 a n d possesses ‘ an exclu sive fra n ch is e” w h ich
runs until 1931. See d ecision w ith regard to franchises in Superior in V . 8 0 ,
p 1911. T h e D u lu th -S u p e rio r B rid g o betw een D u lu th , M in n ., an d Super­
ior W is is used b y the railw ay b u t is a separate co r p o r a tio n , and has issued
first m t g e .b o n d s fo r $ 6 5 0 ,0 0 0 an d se co n d m tg e . b o n d s fo r $ 3 0 0 .0 0 0 - s e e
bridge Item s. V . 63, p . 310 , 504 . In 1903 enterod in to c o n tr a c t w ith the
G rea t N o rth e rn P ow er C o . to s u p p ly s u fficie n t p o w e r to o p e ra to tho s treet
railw ays in b o th c itie s. T h o d e liv e ry o f p ow er w as bogun in 1908.
Reduced Rates Ordered.— I n N o v . 1912 th e
C o m m , ordered
th o D u lu th St. R y . to establish a rate o f 6 tick ets fo r 2 5 c. on its Superior
lines, in a d d itio n to the 5 -c e n t cash fa ro n o w in fo rc e .
V . 9 5 , p . 1472.
A n n.nnpT.1 has hpen ta k e n .
N o de cisio n up t o M a y 1914.
•Sir!?/?.— \ strik e o n lines o f th o D u lu th St. R y ., w h ich began o n S ept. 9
1912 w as d eclared o f f o n N o v . 6 , th e co m p a n y h a v in g w on o u t c o m p le te ly .
V . 95 p . 1206, 1331.

cosj r „ Ks'SoD« K ? f e ,
h fo

«

H

? >° S is

f S
a

g
s

apV

« "%
Zy ' t ' d

o H ° '° K r“ ™

d g o ld ($1,000) sk f d -- C * n t f \ I n t . a t C en tra l T“r . C o ., N . Y . , Ir u s te e .
Slock.— -B oth c o m . an d p re f. a r e listed o n N . Y . S to ck E x ch V 90, p. 848 .
Bonds.— T h o m tg e . o f 1900 co v e r s all th e m ileage o f the D u lu th Street R y .
th o p r o p e r ty o f th e L a k e s i d e S t . Ity . an d o f the Superior R a p id T ran sit
h a v in g first been c o n v e y e d to th© D u lu th S t. I iy . T h e gen . m tg e . b on d s are
s u b j. t o ca ll o n a n y in t. d a y a t 105 and in t. R e m a in in g b o n d s m ay bo
Issued fo r a d d itio n s , exten sion s, & c.
U,^r 'V<B,’ * ’ • b y D u l.-S u p .
'P rin t P n
v on n 1296: V . 9 1 , p . 276; V . 9 2 , p . 186.
1 Dividends.— O n th e p re f. s to c k 4 % p . a. is bein g pa id . O n c o m ., 1st d iv .
— 1 % — O c t . 1909. Sam o a m o u n t q u a r. toi andl in c l. J u ly 1910; in O c t .
1910, 1 K % .
S am e a m o u n t q u a r. t o an d inch A p ril 1913. In July 1913
re d u ce d t o 1 % ( V . 9 6 , p . 177 2); sam e a m o u n t q u a r. to an d in cl. A p r . 1914.
R O A D .— T h e sy ste m e m b ra ce s 8 2.47 m iles o f tra ck an d in clu d es all th e
lines in D u lu th an d S u p erior.
125 cars.
R E P O R T .— F o r ca le n d a r yea rs (re p o rt fo r 1913 In V . 9 8 , p . 90 6 ):
Cal.
G ross
N et
I n t . & P r e f D ivs. C om m on
Balance,
Y ea r
Earninas E a rn in g s. T a x es.
(4 % ).
D ivid en d s.
Sur o r D e f .
1 9 1 3 ." :.$ 1 M 3 914 5 5 3 5 ,7 5 0 $ 2 4 6 ,0 6 3 $ 6 0 ,0 0 0 ( 4 M )S 148,750 f u r .$ 8 0 M i
1912— - 1,083,259 4 5 3 ,0 7 2 2 1 9 ,2 9 5 6 0 ,0 0 0
(5) 175,000
d e f.1 ,2 2 4
In 1913 carried 2 5 ,3 3 5 ,6 0 4 r e v e n u e and 4 ,2 9 4 ,0 6 6 transfer passengers,
again st 21 ,1 3 2 ,0 0 3 re v e n u e a n d 3 ,7 1 6 ,0 1 9 transfer in 1912.
O F F I C E R S .— P re s ., C . G . G o o d r ic h ; V .- P . A . E . A m e s; V .- P . & G e n .
M g r ., H e rb e rt W arren ; S ec. & T r e a s ., S. L . R e ich e rt; A sst. S e c ., E d m u n d
Z a ch e r.— V. 92, p. 186, 876; V . 93, P; 666; V . 94, p. 345; V . 95, p . 1206,
1331, 1472; V . 9 6 , p . 716 , 1224, 1700, 1772; V . 98 , p . 522, 906.

Receivership. — On April 5 1912 Judge Ryan in Bucks County Court ap­
pointed A . H . Sickler (Pres, of Co.) and Godfrey Schmidheiser of Phila.
receivers. V . 94, p. 699, 1057. Plans of reorganization are in progress.
O R G A N IZ A T IO N .— Organized in 1907 as successor to the Philadelphia
EAST LIVERPOOL, OHIO.
& Easton Ry. (formerly the Doylestown & Easton Street R y .), sold at
TRI-STATE RAILWAY & ELECTRIC CO.
trustee’s sale M ay 31 1907.
Receivership.— O n M a r . 18 1913 receivers w ere a p p o in te d b y Ju d g e D a y
S TO C K A N D BONDS—
Date.
Interest. Outstanding. Maturity
Common, $265,000 ($50).....................................
$258,800 --------- --------- o f th e F ed era l C o u r t in C le v e la n d , o n a p p lica tio n m a d e b y th o B a n k ers’
Pref, $365,000, 5 % n o n -c u m .------------------354,800 ................... T r u s t C o . f m o r tg a g e tru ste e . V # 9 6 . p . 864.
1st M , $1,000,000 ($1,000,1 1907
5 g M -S
911,000 Sept 1 1927
O R G A N I Z A T I O N .— I n co rp o ra te d in O h io . Is a co n s o lid a tio n o f the
$500 and $100), g old--.c*\In t. at Girard Trust C o., Phila., Trustee
fo llo w in g co m p a n ie s (V . 93. p . 165):
B e a v e r C o u n t y (P a .) L ig h t C o .
S teu ben ville W ellsb u rg & W eirton
Stock.— Preferred shares have no voting power.
R v . C o . fw. V a .) .
Boonds.— The new $1,000,000 bonds are not subject to call and no sinking ! M id la n d (P a .) E le c. L t. & P o w . C o .
S te u b e n v .& W e lls b . T r a c . C o . (O h io ) |W e lls b . E l. L t ., l i t . & I\ C o . (W . V a .)
fund. Interest was 4 % to Sept. 1 1911; is now 5 % .




May . 1914.

47

ELECTRIC RAILWAYS

Bonds.— Northamp.-East. Sc Wash. Trac. bonds are callable, in whole or
Leases for 999 years the East Liverpool Trac. & Lt. Co. and the Steuben­
ville & East Liverpool Ry. & Lt. Co. (Ohio) and controls the Ohio River in part, on or after M ay 1 1915 until 1925 at 110; theraefter until 1935 at
Passenger Ry. Co. through leaso to Steubenv. Wellsb. & Weirton Ry. for 90 107M; thereafter until maturity at 105 and int. Mtge. is closed. Sink,
years. The leases of the Steubenville & East Liverpool Ry. & Lt. Co. and fund 1% annually of avge. amount of all bonds out from 1915 to 1925;
the Ohio River Pass. R y. may bo terminated on conditions expressed in to 1940 and 2% thereafter. Bonds are unconditionally guar., p. & i.,
leases. The earnings of the leased companies, afterpaying all fixed charges, by Northamp. Trac. Co. (V. 92, p. 726).
There are deposited to secure the Northamp.-East. & Wash. 1st M . 5s
are distributable on stock of Tri-State Ry. & Elec. Co., on an agreed basis,
prior to distribution on stocks of leased companies. The combined com­ the following bonds o f the Northampton Traction Co.: $44,000 1st M .,
panies own and operate electric railways, electric lighting and power plants $100,000 2d M . (entire issue) and $81,500 gen. M . (entire issue).
along the Ohio River in Ohio, Penna. and West Va., and the railway suspen­
EA R N ING S.— Included in Northampton Trac. C o.’s statement.
sion bridgo between East Liverpool and Chester, W . Va., and control,
ROAD.— Operates 17 miles of track from Phihipsburg, N . J., to Wash­
through stock ownership, the railway bridge between Steubenville and ington, N. J.
Middlo Ferry, W. Va. Territory served extends from Wcllsburg, W. Va.,
up tho Ohio River to Rochester and Reaver, Pa., a distance or 60 miles.
E A S T ST. L O U IS , ILL.
At Rochester connects with electric railway serving that territory and at
EAST ST. LOUIS & SUBURBAN CO.— Trolley. (See map on page 4 8 .)
Wellsburg with lino running to Wheeling and other West Virginia points.
REORGANIZATION, &C.— As per plan in “ Chronicle” of Dec. 26
Franchises range from 25 years to perpetual.
In July 1911 Municipal & General Securities Co., Ltd., London, offered 1913, p. 1822, this company was re-incorporated Jan. 7 1914 in Delaware.
a block of 1st M . and coll, trust bonds at 95% , with a bonus of 20% com. In place of tho $7,000,000 pref. and $7,606,000 com. stock outstanding
of the old company, tho new capitalization was made: 6 % 5-year con­
stock. V. 93, p. 165. Pref. stock was sold at $90 per $100 sharo.
vertible bonds. $2,000,000; 5% cum. prof, stock, $6,000,000; common
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
stock, $6,000,600. The $2,060,000 bonds (part of an issue of $3,006,000)
.............
$2,000,000 ................... aro convertible up to July 1 1918 into an equal amount of 6 % cum. pref.
Common, $2,000,000-.....................Pref, $1,000,000 ($100) 6 %
- ...........
575,800 - - - - - - - - - ­ stock and also 33 1-3% common stock. The 5% pref. shares may be ex­
First and coll trust mtgo, $2,-1 1911 6 A-O................. 668,000 Apr 1 1950 changed half into 6 % cum. pref. (taking precedence over the 5 % pref.)
500,000, gold, sinking fund/lnt. at Bankers Tr. Co..N .Y .,Trus.,or Lond. and half into common stock. See also V. 97, p. 1822; V. 98, p. 155,304.
Underlying bonds (about)___ _____
— -—
1,500,000 ---------------The old East St. Louis & Suburban Co. in April 1906 absorbed the Alton
Slock.— Preferred stock dividends are cumulative from Jan. 1 1913.
Granite & St. L. Co. It owned all tho stock except directors’ shares and all
Bonds.— Of tho unissued 1st Sc coll, trust bonds, $332,000 are for corporate bonds of East St. Louis Ry. C o., the St. L. Sc East St. L. Elec. Ry. Co.
purposos and $1,500,000 for impts., extensions, &c., under certain restric­ and the East St. Louis & Suburban R y. Co.; all the stock of the Alton
tions. Subject to call on or after April 1 1916 at 105 and int. on 60 days Granite & St. L. Tr. C o., tho Alton Gas & EL C o., tho East St. L. Lt. & P.
notice. Sinking fund of 1% per annum of bonds out, begins Dec. 1 1915. C o.; also all the bonds or St. L. Sc Belleville EL Ry. Co. These companies
Bonds aro listed on London Stock Exchange. V. 94, p. 69.
own and operate all electric railway lines in East St. Louis and Alton and
ROAD.— Combined properties consist of about 115 miles of standard interurban lines to Belleville, Edwardsville, Collinsville, Caseyville, O’Failon, Lebanon, Brooklyn, Venice, Madison, Granite City and Alton, and the
gaugo single track.
only electric lino across tho Eads Bridgo— the latter under a 50-year exclus­
OFFICERS —'Pros., .1. II. Pardee, Now York; V .-P ., Edward M cDon­ ive contract from 1902 to operate cars over this bridge. Through arrange­
nell East Liverpool; Treas., Ii. B. Marchant, Now York; Sec., T . W. ment with Illinois Trac. Co. tho interurban cars from Alton are run Into
Mof’fattTNow York; Gen. M gr., W . R. W. Griffin.— V. 93, p. 165; V. 94. their terminal In St. Louis. The East St. Louis Lt. Sc Pow. Co. does entire
p. 69; V. 90, p. 864.
electric lighting and power business in East St. Louis and has a contract
with tho city for municipal lighting until 1920. Alton Gas & Elec. Co. does
(1) East Liverpool T raction & Light.
entire electric light, power and gas business In Alton and has a contract for
Lease.— Is leased to Tri-State Ry. Sc Elec. Co. for 999 years. V. 93, p. municipal lighting. A large coal business Is also carried on.
163. As to operation by receiver, see above and V. 96, p. 864. Horatio
Franchises in East St. Louis, Edwardsvillo, Collinsville, Caseyville,
G. Lloyd is receiver.
O rallon, Belleville and Lebanon expire in 1947, 1948 and 1952, with the
The Alton railway
ORGANIZATION.— Incorporated In Ohio on Sept. 30 1905 and is a exception of five miles In Belleville expiring in 1919.
electric-light and power franchises expire in 1948; the Alton gas franchise Is
consolidation o f tho following companies (see Vu81, p. 1791):
perpetual; Granite City and Madison franchises oxpiro in 1925; Venice
Glasgow RR.
Ceramic City Light Co.
franchise in 1920, Brooklyn franchise in 1921. Tho interurban line to Al­
Chcstor Light & Power Co.
Island Run Coal Co.
ton, outside of city limits, is entirely on private right of way. County
East Liverpool Ry.
People’s Light & Power Co.
franchises covering remaining suburban lines expire from 1919 to 1948,
East Liverpool Bridge Co.
United Power Co.
Electric light and power franchise in East St. Louis oxpires 206s.
East Liverpool Sc Rock Spgs. St. Ry. Wollsvillo Electric Light Co.
Of the stocks and bonds owned, the following have been deposited with
Eastern Ohio RR.
|Tho Rock Springs Park.
St. Louis Union Trust Co. as collateral for the East St. Louis & Subur­
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. tho
ban
Co. collateral trust bonds.
Common, $2,500,000 ( $ 1 0 0 ) - .____
- - .........
$2,500,000 ...................
------------- Slock------------------------ Bon ds------------- Pref., 5% n.c..$500,000 ($ 1 0 0 )___
- ...........
500,000 ...................
Issued.
Pledged.
Issued.
Pledged.
First mtgo.,
$3,000,000,
gold!
1905
..............................
,
5 g M -N
2,850,000 Nov 1 1925 East St. L. Sc Sub. Ry. C o ..$3,850,000
$3,824,300 $3,900,000 $3,834,000
($1,000)------------------------ c/In t. at Union Trust C o., Pittsburgh, Trustee East
Louis Ry. C o______ 1,889,700 1,805,500 1,889,000 1,799.000
East Liverpool Ry first m tgo............
5%
150,000 June 1 1917 St. L.St.
Sc E. St. L. El. Ry.Co.
500,000
499,500
500,000
500,000
Bonds.— Of tho $3,000,000 first mortgago of 1905, $150,000 aro reserved St. L. Sc Bcilev. El. R y .C o ,.
750,000
750,000
750,000
to rotire like amount of East Liverpool Ry. bonds. Aro subject to call on East St. L. L t.& Power C o. _ 976,500
732,000
573,000
...........
any interest date at 105.
Power.— Early in 1913 made contract with Mississippi River Power Co.
ROAD.— Owns and operatos 35.85 miles of track In and between East for suppiy of hydro-electric power from Keokuk for street railway, light
Liverpool and Wellsvillo. Standard gaugo, 73-lb. girdor and T rail. At and power purposes.
The capitalization of the East St. Louis Sc Suburban Co. is as follows:
Wellsvillo connects with tho Steubenville Sc East Liverpool Ry. Sc Light Co.
and at East Liverpool with tho Ohio River Pass. Ity. By traffic agree­
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity,
ments with these two companies operates a through line between Steubon- Common, $6,000,000 ($100).
$6,000,000
villo, O., and Beavor, Pa. 55 cars.
First prer, 6 % cum_________ _____
____
__________
See text
6.000.
000 M ay’ 14. 1
OFFICERS.— Pres. Sc Treas., Edward McDonnell, East Liverpool; Pref, $6,000,000 ($100) 5 % 1 ......................
V. -P ., C. A. Smith, Chester, W. Va.; Sec., Geo. II. Faulk; Gen. M gr., W. cum_____________________ 1
6 J-J
_____________
2.000.
000 Jan 1 1919
R. W. Griffin.— V. 81, p. 1791; V. 82, p. 804; V. 90, p. 1490; V. 93. p. 163. Convert bonds $3,000,000( 1914
($1,000, $566 Sc $l60)c*ntfi Penna. Co. for Ins. 011 L. & GrT Ann., Phila."
(2) Steubenville & East Liverpool Railway & Light Co,
I trusteo. Int. at office of company.
Lease.— Is leased for 999 years to Trl-Stato Ry. Sc Elec. Co. V. 93, p.165. Collateral trust mortgage $8 ,-1 1902
5 g A-O
8,000,000 April 1 1932
As to operation by receiver, seo above and V. 96, p. 864. Horatio G.
000.000 gold ($l,060).c* tf{ Interest at St. Louis Union Tr. C o.. Trustee,
Lloyd is receiver.
. ^ „ „ ,
, „
„
l or at E. W. Clark & C o.. Philadelphia.
2,483,000 Aug 1 1944
ORGANIZATION.— Incorp. in Ohio April 1906 as successor to tho Stou- A G & St Louis Trac Co 1st (1904 5 g F-A
consol M , $3,000,000 gold/Int. at Illinois State Tr. C o., East St. Louis,
benvillo Trac. Sc Light Co., which in Jan. 1901 had taken over tho Steubon($1,000)------------------- c * t f ( Trustee, or at National City Bank, N . Y .
villo Gas & Elec. Co. and the Steubenville Trac. Co. Owns tho Pleasant
5 g A-O
250,000 Oct. 1 1915
Heights lino. Light franchises perpetual: street railway franchises oxpiro Alton Ry & Ilium first mtgo) 1895
$250,000 g ($1,000)..c *n tf/In t. at Bankers Tr. C o., N. Y ., trustee.
1925 to 1928. Bonds listed on tho Philadelphia Stock Exchange.
Alton
Ry
Gas
&
Electric
C
o(
1899
5
g
A-O
250.000 Oct. 1 1939
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
mtgo $500,000 ($ l,000 )(ln t. at Equitable Tr. C o., N. Y ., trustee.
Stock. $3,000,000 ($100)............ . .
..............
$3,000,000 ...................
g o l d . ... — . - - - -----c*n tf I No sinking fund; bonds cannot be called.
2,216,666 Jan 1 l627 East
First mortgago, $3,660,0001 1907 5 J-J
St L Lt Sc Pow 1st M l 1910 5 g J-D
733,000 June 1 1940
($1,000) .gold___________ c jln t. at Commercial Tr. Co., Phila., Trusteo.
g, guar p & 1 ($1,000) c*tf/ Int. at Mercantile Tr. Co., St. Louis. Trustee
Steuben Trac Sc Lt 1st mtgo.t ___
5 g M -N
790,000 May t 1926
and at office of co. in East St. Louis.
$1,660,000 ($1,000), g -_ c* /In t. at Metropolitan Tr. C o., N. Y ., Trusteo . Stock. The 5% cum. pref.l may
be exchanged at any time for 50% of
Bonds.— Of tho now $3,000,000 bonds, $790,000 are reserved to retire 6 % cum. pref. and 50% com. stock. Tho 6 % pref. takes precedence both
prior Hons. Cannot bo called. Steubenville Trac. & Light bonds aro as to dividends and assets over the 5% pref. and the common stock.
guaranteed, principal and interest. by American Gas Co.
Bonds.— Coll, trust bonds aro redeemable on any Int. day at 105 and
ROAD.— Owns and operatas 41.04 miles of track in and between Steu­ Int. on 4 weeks’ notice. See V. 76. p. 382. The convertible 5 s are convertbenville and Toronto, thence to Wellsvillo. 85-lb. rail. 17 closed and 14 lb.e any time before July 1 1918 into an equal amount of 6 % cum. Dref.
open cars. Also electric-light and gas plants and pleasure park of 85 acres. stock and in addition 33 1-3% in new common stock. The remaining SI 000,000 may be issued at any time. Of the S500.000 Alton R y., Gas & El.
OFFICERS.— Pres. & Treas., Edw. McDonnell; Sec., Geo. II. Faulk; Co.
bonds, $250,000 are reserved for prior dens. The remaining ($517,000)
Gen. M gr., W. R. W. Griffin.— V. 93. p. 165.
Alt. Gran. & St. L. Tr. 1st consols are reserved for impts., extensions, &c.
Thoy aro also a lien on tho property of tho Alton Gas & Electric C o.,
(3) Ohio River Passenger Ry.
which was owned by the Alton Granito & St. Louis Traction Co., when tho
Lease.— Is leased to tho Steubenvlllo Wellsvillo Sc Weirton Ry. Co. for mtgo. was made. No sinking funds, but bonds are subject to call on any
90 years.
int. date at 110 and Int. upon 90 days’ notice. East St. L. Lt. & Pow. bonds
aro guar., p. & L, by end., by East St. Louis & Sub. Co., callable at 105 and
ORGANIZATION.— Incorporated in Pennsylvania.
on 30 days’ notice. Auth. Issue unlimited, but additional bonds are
STOCK AND BONDS— Date.
Interest. Outstanding. Maturilj. int.
issuable only for 80% of the cost of add’ ns and imp'ts, and then only when
Stock, $1,000,000 ($50).....................
.............
$1,000,000 __________ net
earns, are at least I fi times int. charge on bonds out as well as those to
First mtge, $1,000,000, g o ld .. 1907
5 J-J
1,000,000 Jan 1 1957 be issued.
ROAD.— Connects Rochester and Beaver, Pa., and East Liverpool O
Dividends on Old Stock.— 5% per annum was paid quarterly on pref. from
Longth of lino, 22.48 miles.
its Issue May 1 1906 up to and Including Feb. 1914. On new pref. \
OFFICERS.— Pres, and Treas., Edw. McDonnell; Sec., A. Bacon; paid May 1914.
REPORT (of operating companies).— For year ending Dec. 31 1913,
Gen. Mgr. W. R. W. Griffin, all of East Liverpool.
gross, $2,664,219; not, after taxes, $1,096,563; int., &c., $589,134; surplus,
$507,429. Passengers carried in 1913 (revenue passengers only), 38,797,-

E A S T O N , PA.

NORTHAMPTON TRACTION CO.
ORGANIZATION.— Incorp. In Penn. Oct. 3 1902 as a consolidation of
tho Easton & Nazareth Ry. and Easton Tatamy Sc Bangor Street Ry.
Owns practically all the stock ($1,250,000) of tho Northampton Easton &
Washington Trac. Co. (seo that company below). Franchises perpetual.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Stock, $500,000 ($ 5 0 )--..................
.............
$500,000 ___
First mortgago $400,000
1 1903
5 g J-J
349,500 Jan 1 1933
g o ld ------------------------- c*tf Jlnt. at Northampton Tr. Co.(Easton), Trus.
Ref Sc cons mtgo------------------- 1 9 1 2
5%
300,000 Jan 11942
Bonds.— A sink, fund of 10% of net earns, Is nowoper. on Northampton
Trac. 1st AI. bonds, but bonds cannot be called.
EARNINGS.— Combined earnings of Northampton Trac. Co. .and
Northampton-East. Sc Wash. Trac. for year end. Dec. 31 1913, gross, $188,­
880; net, $84,149.
ROAD.— The Northampton Trac. Co. operates 25 miles of track from
Easton to 3 atamy and from Tatamy to Nazareth and Bangor, chiefly on
private right-of-way. Standard gauge; 65, 70 and 80-lb. steel rail.
OFFICERS.— Pres., David King; Treas., Wm. L. Doylo; Gon. M gr..
W. O. Hay.— V. 92, p. 726; V. 94, p. 1384.
(1) Northam pton-Easton & W ashington T raction 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.
Stock $1,250,000 ($100).................................. .......... $1,250,000 ____
1st M $5,000,000 g ($100,1 1910
5%
544,000 M ay 1 1950
$500, $1 ,000) ___ s f c*tf\Bankers Trust C o., New York, Trusteo.
Refund & consol mortgagor 1912
5%
200,000 Jan. 1 1942
$1,000,000______________ \Easton Trust C o., Trustee.




ltOAD.— Operates 192.105 miles of single track (of which 38.35 oper. un­
der trackage agreement). Has 178 passenger cars, 830 coal cars, 4 express
cars, 30 work cars and 3 snow sweepers. 2 electric and 2 steam locomotives.
OFFICERS.— Pres., C. M . Clark: V .-Ps., H. L. Clerk, W . B. Kurtz
and E. W . Clark 3d; Sec. Sc Asst. Treas., G. L. Estabrook; Treas., C. A.
Pearson Jr.; Asst. Sec., T . W . Gregory. Office of Suburban Co., Camden,
N. J., operating company at East St. Louis.— V. 92. p. 1032, 1242; V. 94.
p. 1311; V. 96, p. 417; V. 97, p. 238, 1822, 1898; V. 98, p. 73, 155, 304. 452.

E A U C L A IR E , W IS .
CHIPPEWA VALLEY RAILW AY, LIGHT & POWER CO.
Change in Control.— On Feb. 19 1914 Kelsey, Brewer & C o., operators of
tho American Public Utilities C o., Grand Rapids, M ich., announced that
they had taken over and will operate all the trolley properties of this com­
pany. V. 98, p. 610.
ORGANIZATION.— Incorporated in 1898 under the laws of Wisconsin.
Owns tho Chippewa Valloy Elec. R R ., in which tho Eati Claire Light Sc
Power Co. has been merged. Company has surrendered Its Eau Clair
lighting franchise and operates under Indeterminate permit as to lighting.
Still holds railway franchise.
On Jan. 1 1911 acquired the Chippewa Falls Water Works Sc Ltg. Co. and
on July 1 1911 purchased tho Menominee El. Lt. & Pow. (V. 92, p. 186).
In Nov. 1912 purchased the Spring Valley Light & Power Co.
In April 1914 took over tho Ellsworth Heat Light & Power Co. and the
Inter-County ‘ Light & Power Co.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
.................$1,100,000 Apr. 14. 2 %
Common. $1,500,000 ($100).............
Pref, 7% cum, $500.000($ 1 0 0 )-----7 Q-M
165,000 June 14,1 %
First mortgago, $2,000,600/ 1907
5 J-J
1,455,000 July 11924
($1,000) gold__________ c*\Int. at Harris Tr. Sc Sav. Bk., Chicago, T ru t.




May , 1914.

E L E C T R IC R A IL W A Y S

Bonds.— Of tho now $2,000,000 bonds, $200,000 may be issued for 75%
of cost o f extension to Menominee; remainder can be issued for 75% of
cost o f other permanent extensions, additions and improvements,provided
net earnings for preceding year havo been twico annual interest charges,
including interest on bonds to bo issued. Are subject to call on and after
July 1 1913 at 105 and interest, $750 prior liens remain outstanding, but
as sufficient proceeds have been set aside from salo o f outstanding bonds to
retire these, we omit them from the statement. Sinking fund begins 1913.
V. 85, p. 1461.
Dividends.— Dividends o f \*A% each are paid on pref. quarterly. On
com ., first dlv.— 2% — paid Sept. 1909. In 1910, M ay, 6 % % . In 1911,
Jan., 5% . In 1912, Jan., 7% ; M ay, 2% ; July, 2% ; Oct., 2 % . In 1913,
8 % . In 1914, Jan., 2% ; April, 2% .
EARN INGS.— For year ending Dec. 31 1913, gross, $439,595; net, after
taxes, $237,073; bond interest, $72,164; deprec’n & sinking fund, $35,745;
balanco, $129,164.
ROAD.— Operates 22H miles o f road In Eau Claire and Chippewa Falls,
Including an Interurban line between them. Owns all the water powers
on Red Cedar River and does all electric lighting and power business in
Eau Claire, Chippewa Falls, Menominee, Elk Mound and Altoona, Ells­
worth, Spring Valley, Elmwood, Cedar Falls and Rusk; also furnishes
current over 40-mile transmission line to Redwing Gas & Electric C o ., which
serves Redwing, Lake City and Wabasha, M inn., and furnishes current to
Bloomer Electric Light Co. and Cadott municipal plant.
OFFICERS.— Pros., O. II. Ingram; V.-P., John S. Owen; Sec. and Gen.
M gr., Geo. B. Wheeler; Treas., B. A. Buffington; Asst. M gr., A . E. Pierce
Jr.— V. 85, p. 1209, 1461; V. 90, p. 697; V. 91, p. 1327; V. 92, p. 186, 321.
V . 98, p. 610. 999, 1155.________

49
EUREKA, CAL,

HUMBOLDT TRAN SIT CO.
ORGANIZATION.— Incorporated In California July 31 1903.
—
Date.
Interest. Outstanding. Maturity.
Stock $1.000,C00 ($100)...........................
$500,000
1st mtge $1,000,000 ($1,000)1 ____
5 g A-O
193,000 Oct " l 'l 9 3 4
--------------.c & r .n t f/U n io n Trust Co. o f San Fran., Trustee.
subj. to call. A sk. fd. of 2% of bonds out began Oct. 1910.
n n ? S IN n S-~ ^ or caJ- y^ T 1913’ *87,480; in 1912, gross, $86,455.
13
mIIes of track in city of Eureka. 45-60-lb
OFFICERS.— Pres., Wm. Butterworth; V.-P., O. P . Pomeroy; Sec. and
Treas., Horace R . Hudson; M gr., F. O. Morrison.

EVANSVILLE, IND.

EVANSVILLE RAILW AYS CO.
,, ORGANIZATION.— Incorporated in Indiana in August 1907 to control

L n " . f f ® L b a o ‘ a f g R u‘T % l» ? (“‘ ^ ? r

Tr“ - ° ° -

i 9 n iVugthe Evansville Henderson & Owensboro R y. was incorp.
in Indiana (com. stock auth. and out., $50,000—ail owned by Evansv.
Rys., pref., $250,000 auth., $150,000 out.) to build a line from Evansville
to Henderson and ultimately to Owensboro. New company has leased
6>4 miles of Illinois Central tracks between Evansville and Henderson and
has electrified same. Lino was placed in operation from Evansvillo to
Henderson July 28 1912. V. 93, p. 730.
ELMIRA? N. Y.
In April 1913 increased its auth. common stock from $1,000,000 to $2.­
ELMIRA W ATER, LIGHT & RAILROAD CO.— Controlled by the
United Gas & Elec. C o.— See United Gas & Elec. Corporation under N. Y . 000,000. V. 96, p. 1156­
In 1913 the Indiana P. U. Comm, granted permission to sell or hypothe­
ORGAN IZATION .— Incorp. in New York M ay 26 1900 as a consolida­
tion of all tho water, lighting, power and streot railway properties in Elmira. cate (a) $273,000 5-year 6% notes at not less than 75% , to pay floating
Owns entiro capital stock o f Elmira & Seneca Lake Trac. Co. (also all bonds debt of $204,732, &c.
of this co.) Rorlck's Glen Park Assn., and majority o f stock of West Water
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
St. R R . The latter company operated under 999-year leases. In April Common $2,000,000 ($100)...............................
$1,164,000 .............
1913 it was stated that all franchises havo at least 72 years to run, while Pref., $500,000, 6% cum...................
J-J
354.900 ...................
some of them aro perpetual. In Feb. 1910 was auth. to acquire all stock First and refunding mort-T 1913
5%
See text.
1953
of Montour Falls Electric Light Co.
gage $5,000,000---------- tf/Pittsburgh Trust C o., Pittsburgh, Trustee.
New Financing.— On March 17 1914 the stockholders authorized an in­
crease in stock, which was subsequently approved by the P. S. Commission,
ao
by tho creation of $3,000,000 7% cum. first pref. stock and tho Issuance of
nn?i°«i$nnrw°i°’
rntV? 6 American Trust & Sav. C o., Evans(1) $850,000 o f the now first pref. stock; (2) $317,000 5% 2d pref. stock
and $1,000 (closed M )c * tf I ville or Pittsburgh Trust C o., Trustee.
(formerly pref. stock) and (3) $617,000 consolidated mtge. 5s. Tho Evans & Mt V Elec Ry 1st M\ 1905 5 pt A-O
350 00ft Ort i iqok
$307,000 Chemung County Gas 1st 6s and tho $1,250,000 6 % dob. notes „ $350,000 gold ($1,000) c n f/I n t . at Amer. Tr. & Sav. Co. .Evansv Tms
wero then retired. V. 98, p. 1392.
Evansv Term Ry 1st mtgef 1908 5 J-J
300 000 Jan i u r n
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
$300,000 gold ($1,000). -t fl Int. at Am. Tr. & Sav. Co!, Evansv., Trus.
Common $1,000,000 ($100)----------.................SI,000,000 M ar.’ 14,1%
gu p & 1 by Evans Rys C o. } and Ills. Tr. & Sav. Bank, Chicago.
1st pf, $3,000,000 (7% cum)----------Q-J
850,000 .............. ..
Stock and Bonds.— Pref. stock can be called at any time at par. Of the
2d pref 5% cum $1,000,000________
5 M -S
1,000,000 M ar.’ 14,2H $5,000,000 mtge. bonds of 1913. $1,331,500 aro set aside to retire underly­
West Side RR gold first mtgo 1894 5 g A-O
355,000 Oct. 1 1914 ing issues, $2,868,500 for future requirements and $800,000 aro immediately
(81,000) (closed M ) .c .n t f Int. at Chemung Canal Tr. C o., Elmira, Tr. available, of which $273,000 were authorized in Sept. 1913 by the Indiana
Chemung Co Gas Co 1st M (To bo called July 1 1914)
P. S. Commission. See V. 97, p. 802. Of the 6% notes, $273,000 auth.,
(closed M )--------------- c pt - 6 % , ..
307,000 July 1 1923 $270,000 had been certified up to M ay 1 1914.
Thoy aro secured by
Elmira W .L & R R 1st M ___
1900 5 g J-J
1,661.000 Jan. 11949 $800,000 1st & ref. bonds. Of the Evansville & Eastern Electric Ry. bonds,
gold ($1,000 and $500) Int. at U, S. M tg. & Tr. C o., N. Y ., Trustee. $51,000 aro reserved for ext. & impts. at 85% of cost. Are subject to call,
(closed M ) __________ c*tf
Subject to call at 105 and interest.
in wholo or in part, at 105 and interest on any interest day upon 90 da vs'
Elmira W, L & RR 1st con M ' 1906
5 g M-S
2,984,000 Sopt 1 1956 notice; $2,500 is payable annually to a sinking fund from 1910 to 1920:
$5,000,000 ($1,000) -g c * tf Interest at New York Trust C o.. Trustee. from 1921 to 1936 $5,000 per annum; $10,000 bonds were held in sinking
STOCK.—
First
pref.
is
roc
----- -- - .
---------------- J. at option o f co. at 115 and dlv.
fund Jan. 1914. Sinking fund of $10,500 per annum began Oct. 1 1910 on
Bonds.— Of Elmira W ., Lt. & RR. 1st cons. M . o f 1906. $2,016,000 are Evansv. & M t. Vor. Elec. R y., to bo invested in ten bonds ann. at 105.
reserved for prior Hens and $617,000 for ext., imp., &c. V. 83, p. 893; V. 86. Subject to call at any int. period at 110. Evansv. Term, bonds are rod. at
p. 720. Chemung Co. Gas Co. 6s are to bo called July 1 1914.
105 and int. on any int. day at 60 days' notice. Sink, fund begins 1912.
Dividends.— On prof., 2f6 % paid somi-ann. from Sept. 1907 to and lncl.
March 1914. On com., 1st dlv.— 1%— paid Oct. 1910. In 1911, 1912 ^ E A R N m G S .-F o r year ending Dec. 31 1913, gross. $252,825; net,
$101,232;
bond, int., $65,950; surplus, $35,282. In 1912, gross. $223,247and 1913, 4 % . In 1914, March, 1%.
ROAD, &c.— Comprises 45 m. o f single track In Elmira and connecting not, $89,845; Int., $64,110; surplus, $25.7,35.
the suburban towns o f Elmira Heights, Southport and Horseheads, from
ROAD.— The Evansville & Eastern road consists of 31 miles of track
Ilorseheads to Watkins, via Millport and Montour Falls, to Seneca Lako. from Nowburgh (from which point it enters Evansville over tracks of the
95 cars. 75 and 90-lb. girder rails. Owns Itorick Glen Park.
Evansville Terminal R y., 10 miles) to Grandview, including a 4-mile branch
Water Department.— Includes reservoir, cap. 5,000,000 gall., 2 storage to Richland. Tho Evansville & M t. Vernon road consists of 20 miles of
reservoirs, filter and pumping station, cap. 16,500,000 gall. About 94 miles track from Evansville to M t. Vernon. Evansv. Henderson & Owensboro
of water mains with 8,075 services and 566 fire hydrants.
comprises 10)4 miles of track from Evansville to nendorson. Total length
Gas Department.— Supplies nat. and art. gas. Art. gas dept, consists of of lines, 71 Vi miles-. First two roads do an interchange car-load freight
coal gas plant with daily generating capacity o f 150,000 cu. ft. and 200,000 service with steam roads.
cu. ft. holder capacity and 32 miles of mains.
OFFICERS.— Pres., W. n . McCurdy; V .-P „ W . A. Koch; Sec. & Treas.,
Electric Dept.— Two 5,250 k.w. turbines and four 750 h.p. boilers. Old
II. Battin; Gen. M gr., W . A. Carson.— V. 90. p. 1362; V. 93, p. 730;
power station has 4,250 k.w. capacity, with new 823 h.p. boiler and three O.
V. 96, p. 1156, 1488; V. 97, p. 594, 802.
800 k.w. step-up transtormers
(1)
Henderson T ra ction .— Street railway.
EARNINGS.— For cal. year 1913, gross, $1,015,052; net, after taxos,
$418,008; interest, $250,000; balance, surplus, $168,008.
Acquired by Evansville Rys. In M ay 1913. V. 96, p. 1488.
OFFICERS.— Pres., Ray Tompkins; V.-I’ r., S. J. Dill; Soc. and Treas.,
ORGANIZATION.— Incorporated in Kentucky Feb. 22 1907 as a suc­
O. A. Kolstad; Acting Gen. M gr.. F. II. Hill; Asst. Sec., Henry Morgan,
to tho Henderson City R y., sold at foreclosure on Fob. 18 1907. The
61 B ’way, N. Y .— V. 87, p. 778; V. 92. p. 397; V. 95, p. 176; V. 96, p. 1156 cessor
old railway had a 30-year franchise granted in Oct. 1886, and also controlled
V. 97. p. 802; V. 98. p. 1392, 1459.
________
’V
’ the
Henderson Ferry C o., which has since been sold. V. 84, p. 508.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
EL PASO? TEX aT
s.
$149,800 — . . .
Stock,$150,000 ($100)..............................................
EL PASO ELECTRIC CO.— Incorporated In New Jersey and owns the First mortgago, $150,000/ 1907
5 g A-O
105,000 A pr.15 1927
securities of the El Paso Elec. R y. Co. and the El Paso & Juaroz Trac. C o.,
($1,000, $500, $100) gold tf\lnt. at Ohio Bkg. & Trust C o., Henderson.Tr
comprising practically all the electric lighting and tho entire streot railway
Bonds.—$127,000 bonds issued but $22,000 held in treasury. Ilomaining
business of El Paso, Tex., and Juaroz, Moxico. Railway franchise in El $23,000 are roserved for extensions and improvements. Subject to call on
Paso expires In 1951; In Juaroz in 1988. Lighting franchise in El Paso ex­ April 15 1917 and 1922 at 105. No sinking fund.
pires in 1952; In Juaroz in 1915. In 1909 increased prof, from $500,000 to
ROAD.— Operates 6 miles of street railway. V. 90, p. 1363.
$1,000,000. V. 90, p. 109. $112,500 com. stock Is owned by Pub. Sorv.
Invest. Co.
(2) Ow ensboro C ity Railroad.— Street railway.
On Jan. 15 1913 the directors voted to offer stockholders $250,000 com­
Acquired by Evansville Rys. In M ay 1913. V. 96, p . 1488. An exten­
mon stock at par at close of business Feb. 1. V. 96, p. 202.
sion
down the Ohio River is contemplated. V. 90, p. 1364.
On March 9 1914 shareholders authorized an increaso in the authorized
ORGANIZATION.—Chartered In 1886. Franchise runs till 1936 and
amount o f common stock from $2,000,000 to $3,000,000. V. 98, p. 839.
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity. gives exclusive rights to operate street railway in said city.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Common, $3,000,000 ($100).--------Q-M
$2,375,000Mar’ 14,2H %
Common. $75,000 (par $50).....................................
$75,000f.p..................
Pref $1,000,000 6% n-c ($100)
6 J-J
1,000,000 Jan ’ 14, 3%
l8t mtRO.. $200,000. gold} 1902
5 g J-J
200,000 Jan. 11932
Oollat trust mtge $1,000,0001 1902
5 g J-J
1,000,000 Jan 11932
($1,000), c&r, not re d ., tf/Interest at Louisville Trust C o.. Trustee.
(81,000) gold________ ctf/In t. at State St. Trust Co., Boston, trusteo.
Gonoral mortgage,$200,000tf/ 1910
6 M -N
200,000 May 1 1933
Bonds.— Collateral trust bonds cannot be called and no sinking fund.
_ .
„
, \Amer. Tr. & Sav. Co., Evansv., Ind., Trustee
Dividends.— First dlv., 3% , on prof, stock, was paid Jan. 12 1903; also 3%
on July 13 1903; 1094 to Jan. 1914, incl., 6% per ann. On com., 1st dlv., .E A R N IN G S .— For fiscal year end. Juno 30 1913, gross, $73,669; net,
2% , Mar. 1910; Sept., 2; in 1911, 5% ; in 1912, Mar., 3% Sept., 3 & % ; in $21*2 Jo•
ROAD.— Owns 12Id miles of street railway in Owensboro and suburbs;
1913, Mar., 3 >4%: in Juno 1913 bogan to make quar. dlvs. and paid 2% ;
also Sept., 2% ; Dec., 2% ; In March 1914 increased rato, and 234 % was 56 and 70-lb. rail; 25 motor cars, double G. E. 800; 5 trailers; 25 10-ton
and 6.25-ton coal cars. Power house 600 k. w. capacity. V. 90, p. 1364.
paid.
EARNINGS.— Of combined companies for 12 mos. end. Dec. 31 1913
EVANSVILLE SUBURBAN & NEWBURGH R Y .
gross, $886,880: net, after taxes, $408,521; othor income, $9,235; interest’
$48,015; prer. dlvs., $60,000: com. divs., $181,198; surplus, $128,542 ’
ORGANIZATION.— Incorporated In Indiana in Dec. 1888, with a perROAD.— Operates 47.6 miles of track In and betwoon El Paso, Tex
notual charter. Pass, business hauled by electricity and freight by steam.
and Juaroz, Mexico; 77 cars; standard gauge. Will build, it is reported’ Does a car-lot freight and express business. Has private right-of-way.
from El Paso to Fabens, 35 miles.
’
STOCK AND BONDS—■ Dale.
Interest. Outstanding. Maturity.
OFFICERS.— Pres., Marshall M . Phinney; V .-P ., Joseph Remlck and
$500,000 ($100)..............................................
$307,400 ...........
Guy L. Weymouth: Treas., Henry B. Sawyer: Sec., Chester M . Clark- Stock,
mortgago, $500,000, gold [ 1904
5 g J-J
490,000 July 11934
Gen. Mgrs., Stone & Webster M gt. Assn.— V. 94, p. 659; V. 95. p. 616­ 1st($500
and
$1,000)------c*tf/Interest
at
Evansville
Trust & Sav. Co.,
V. 96, p. 135, 202, 1556; V. 98, p. 610, 839.
’
,
. , ,,
, ,
l Trustee, or Nat. Bank of Commerce, N .Y .
Bonds.—A sinking fund of $2,500 per annum commenced July 1 1910
ESCANABA, MICH.
which will retire bonds at 105. All or any part of bonds redeemable
ESCANABA TRACTION CO.
cater 15 years at 105. $10,000 have been retlrod. V . 96, p. 1365.
ORGANIZATION.— Reorganization in Aug. 1909 o f Escanaba Electrl
EARNINGS.— For yr. end. June 30 1913, gross. $123,296: net, $40,419.
St. Ry. and Escanaba Power Co. Does electric light and power business in
fROAD.— Operates 25 miles of track from Evansville to Newburgh, with
Escanaba, Gladstone and Wells, Mich. Is allowed to carry freight.
a branch off tho main line through Stevens Station and Chandler to BoonSTOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. ville; has also 6 miles of side-track; total, 30 miles. 70-lb. T rails.
Stock $500,000...........- ................. ...........................
$500,000 . .
OFFICERS.— Pres., F. \V. Cook; V.-P. & Treas., Lee Howell; Sec. &
1st <& rof mtgo $600,000 gold} 1909...........5 J-J
365,000
See text Gen. M gr., Gus Mulhausen.— V. 83, p. 271; V. 96, p. 1365.
($1,000).................. c * -c p t/In t. at First Sav. & Trust C o., Milwaukee.
Second m ortgage..............................
.................
200,000 .............. .
FAIRMONT. W. VA.
Bonds.— Of 1st & ref. bonds, $225,000 are for additions and impts. at 80%
AlONONGAHELA VALLEY TRACTION CO.
of cost, nndor restrictions. Bonds maturo $10,000 annually from 1914 to
1933 incl., remainder in 1934. Thoy aro subject to call at 103 and int. on
ORGANIZATION.— Organized In W . Va. on May 18 1912. Is a con­
any int. date. Michigan Trust Co., Grand Rapids, trustee. V. 92. p. 1564. solidation of Fairmont & Clarksburg Trac. C o., Fairmont & Northern
EARNINGS.— For year onding Dec. 31 1913, gross. $122,642: not. Trac. Co. and Clarksburg & Weston Elec. Ry. Owns and controls entire
$59,835; int., $33,300; surplus, $26,535.
’ B
’ •4" * 0* * noc* street railway business in Fairmont and Clarksburg (incl. entire electrioROAD.— Owns and operates streot railway in Escanaba and an intor- llght and power business in Fairmont) and an Interurban road connecting
urban road to Gladstone, which was placed in operation in July 1910. Power the two cities, with branches extending to various cities and towns. Fran­
lant capacity, 1,300 h. p. A new dam on Escanaba River, providing chises in Fairmont are perpetual. In other cities and towns extend for 60
,000 additional h. p., was completed in summer of 1912.
years, the shortost expiring in 1952. Interurban are on private right of
OFFIOI5RS.— Pres., J. K. Stack; V .-P ., J. O. Kirkpatrick; Sec. & Gen
way. Franchises over county roads and bridges in Marlon and Uanrison
M gr., P. L. Utley; Treas., M . N . Smith, all o f Escanaba.— V. 92, p. 1564.
counties are perpetual.

,‘SIi

S




!? -

aMSij

i&§

50

[Vol.

ELECTRIC RAILWAYS

On Feb. 1 1911 the Fairmont A Clarksburg Trac. took over the Fairmont
A Mannington Trac. Co. (16 miles), and has acquired 7,600 shares of stock
(76%) and $529,000 of total issue of $600,000 1st M . 5% bonds of said co.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity.
Common. 35,000,000-...................- .....................
$5,OOO,00OMarT4,l )$%
Pref, 5% (cum.), $2.500,000...........
F-A
2,016,300 Feb 14, 2 M
First A ref M , $15,000,000, g\ 1912
5 J-D
2,500,000 Juno 1 1942
($500 A $l,000)-.c*A r* t f IFidelity Tr. C o., Balt., Trus. Int. in N .Y .
Fairm A Clarksb 1st M , $2,-1 1903
5 g A-O
2,500.000 Oct 11938
500,000, g ($1,000)--C*ntfJInt. at Guaranty Trust C o., N. Y ., Trustee.
Bonds.— Of the 1st (A ref.) bonds, $2,500,000 are reserved to retiro prior
liens and $10,000,000 are for add’ns and cxtens. under certain restrictions.
Red. at 105 and int. on any int. day on or after Juno 1 1922. See V . 94,
p. 1508. Fairmont A Clarksburg 1st mtgo. bonds subject to call, beginning
Oct. 1913, at 105 and Int. Listed on Philadelphia Stock Exchango.
Dividends.— 5% is being paid on tho prof, stock. Initial div. on com­
mon— 2% — paid Jan. 1913; July 1913, 1)3% ; Oct., 1)3% . In 1914, M ar.,
1)3% .
EARNINGS.— For year ending Dec. 31 1913, gross, $960,269; net,
$565,136; interest, $250,000; balance, $315,136.
ROAD.— Operates street railways in Fairmont, W . V a., and in Clarks­
burg. W . Va., and an interurban lino of 25 miles connecting the two with
various small branch lines; also lines from Fairmont to Fair view, 14 m .,
Clarksburg to Bridgeport, 7.6 m ., and Clarksburg to Weston, 24 m.; total,
track in operation, 108 miles. Other extensions aro contemplated. Fair­
mont & Mannington operates 16 miles. Standard gauge. 80-lb. T rail.
OFFICERS.— Pres., S. L. Watson, Fairmont; V .-P ., C. W . Watson,
Baltimore, M d.; Sec. A Treas., Walton Miller, Fairmont; Gen. Mgr.,Jas
O. Watson, Fairmont.— V. 94, p. 827, 912, 1384, 1508. 1627; V. 95. p. 176;
V. 96, p. 1840; V. 97, p. 1115.

XCV III

Bonds.— Bonds aro subject to call at 105 on 6 weeks’ notice.
R E PO RT.— For calendar years:
.
Balance,
Calendar
Cross
Operating
Net
Taxes
Fixed
Year—
Earnings. Expenses. Earnings. Accrued. Charges. Surplus.
$27,253
$203,346 $128,690
$74,656
$7,878S39.525
1913.......
20,930
1912_____
196,105
128,993
67,172
7,35638,886
ROAD.— Owns 46 miles of road— 18.5 miles to Oshkosh, 26.5 miles of
Interurban raod running from Oshkosh to Neehah and to Omro and 1 mile
in Neenah.
OFFICERS.— Pres., H. F.•Whitcomb; V .-P ., Clement C. Smith; Sec. A
Treas., II. F. Whitcomb Jr., all of Milwaukee.— V. 87, p. 348, 481; V. 88,
______
p. 1255; V. 98, p. 1001.

FORT DODGE, IOWA.
FORT DODGE DES MOINES & SOUTHERN R R .— See “ Railroad and
Industrial” section.

FORT SCOTT, KAN.

THE FORT SCOTT GAS & ELECTRIC CO.
Plant is being entirely rebuilt.
ORGANIZATION.— Incorporated in Kansas in 1900, and is successor
to the Fort Scott Electric Light A Power C o., Citizens' Electric Street R y.,
Fort Scott Steam Heating Co. and Fort Scott Gas Co. Franchise expires
April 23 1922.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $350,000 ($100).......................
------$350,000
1st mortgage $250,000 gold) 1903
5 g A-O
185,000 April 1 1922($500). sinking fund___ c*JInt. at Chicago Title & Trust C o., Trustee.
6%
289,000 - - - - - - - - - New mortgage, $350,000----- j -----($ 5 0 0 )-............................... Jlnt. at Vandeventer Tr. C o., St. Louis, M o.
FARGO, NORTH DAKOTA.
Bonds.— Of the $250,000 1st M . auth., $50,000 are reserved for extensions
FARGO & MOOREHEAD STREET RAILW AY CO.— A trolley road. and $15,000 havo been rotired. The following amounts aro payablo annu­
ally to a sinking fund: In 1908 and 1909, $3,500 per annum; in 1910 and
Stock is all owned by Consumers’ Power Co. of Minnesota.
ORGANIZATION.— Incorporated 1902 in North Dakota. In June 1912 1911, $4,000 per annum; in 1912 and 1913, $4,500 per annum; in 1914 and
new 25-yoar franchises were granted in Fargo, Moorehead and Ditworth. 1915, $6,000 per annum; in 1916 and 1917, $7,000 per annum; and from
,
Stock $300,000 ($100) issued. Bonds authorized and outstanding, $200,000 1918 to 1921 inclusive, $10,000 per annum.
EARNINGS.— For calendar year 1910, gross, $65,000; net, $33,000.
($500) 20-year 5% 1st mtge. and $100,000 ($500) 6% 20-year 2d mtge.;
both issues due 1925; int. J.-J. and subject to call after 5 years at 105; prin­
ROAD.— 7 miles of track in Fort Scott. Gaugo, 4 ft.; 45 to 80-lb. T rails.
cipal and int. payable in gold, 1st mtgo. bonds at Stato Bank of Chicago,
OFFICERS.— Pres., J. E. McKinney, St. Louis; \ ,-P., R. E. L. Winter,
trustee; 2d mtge. bonds at Northwestern Trust C o., St. Paul, Minn., trus­
tee. Operates in Fargo, N. D ., and Moorehead, M inn., and an interurban St. Louis; Sec.-Treas. & Gen. M an., F. D. Martin, Ft. Scott.—'V.77,p .1294.
to Dllworth, M inn., a total of 15 miles. Standard gauge. 70-lb. T rail.
EARNINGS.— For 12 mos. ending Dec. 31 1913, gross, S122.818; net,
FORT SMITH, ARK.
$48,881.
_______ _____________
FORT SMITH LIGH T & TRACTION CO.
Standard Gas A Elec. Co. (V. 93, p. 1327) owns $949,900 coin., $798,709
FISHKILL-ON-THE-HUDSON, N. Y.
pref. stock, $150,000 1st M . bonds and $300,000 dob. 6s of the company.
FISHK1I.I. ELECTRIC RAILW AY C O — A trolloy road.
ORGANIZATION.— Incorporated in Arkansas on April 13 1903 as a con­
Leases the Citizens’ St. R R „ L. A P. at a rental of $8,255 per annum.
solidation of the Ft. Smith-Van Buren Light A Transit Co. and the T . Smith
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity- Trac Lt. & Pow. Co. Owns all physical property, contracts, rights and
------850,000 T-.-----Stock.$50,000....................................
franchises of Van Buren Fuel A Light Co. (now dissolved). Docs the entire
First mortgage, $50,000_____1S95
6 J-J
oO.OOO July
1915 electric-light, gas and street railway business of tho city, and the clectricEARNINGS.— For year ending Juno 30 1913, gross, $61,753; net, $21,­ light and gas business of Van Buren; operates an interurban lino botween
Ft Smith and Van Buren. Street railway and electric-light franchises
231; charges, $17,526; surplus, $3,705.
in Ft. Smith expire in 1955; gas in 1953. Gas and electric light franchises
ROAD.— Owns4H and leases 3 miles. Total, 7 ).( miles.
OFFICERS.— Pros., John T . Smith; V .-P ., W . J. Conklin; Sec., W . H. ‘ " c i t y C ouncil^oc! 16 Vo 12 fixed the price of gas at 25c. per 1,000 cu. ft.,
Southard; Treas., G. W. Patterson.
but company obtained a court injunction, and subsequently tho ordinance
was rescinded.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
FITCHBURG, MASS.
Common. $1,500,000 ($100)......................
*
FITCHBURG & LEOMINSTER STREET RY.
' ’ .•et $5,000,000 ($100) 7% cum,
.Vvnn'nnn MnrS i i o v
In April 1905 absorbed tho Leominster Shirley & Ayer Street Ry. through
" t ($500 a"i^$I?00 O?:^ - - c *j InC.at IlS&ta Trust A S a ? C Bank, Chic.*!
exchango of stock, sharo for share. V. 80, p. 1478. _ ,[Pn9nl){'6v °Jno Tnno‘
Si i^ouu anu si.uoo;
Trustee, or at agency of co. in N .Y . or Bos.
IIR. Commission sanctioned increase in stock from $450,OUU to $iuu,uuu,
6 M -N
300,000 May 1 1918
new stock to be issued at 110. Company then petitioned Commission to Debenture notes, $300,000— 1913
allow stock to be Issued at 100 (V. 85, p. 722) but in Sept. 190S Commis­
Stock and Bonds.— Pref. stock is red. at any time after 3 years from issue
sion denied application. V. 87, p. 812.
at 110 and accrued div. Remaining 1st M . bonds « n _ o n £ bojbgw d tor
STOCK, BONDS, .See.—
Date.
Interest. Outstanding. Maturity.
Stock $700 000 fS 1001
$450,000
See text.
Fitch & Leo 1st mtge ($500) ,1 1897 5 A-O
150,000 April 1 1917
vearVv ^OlVto m s * 1'2% year 1y ‘ 19 {9*"to“l923" and'such"amounts thereafter
$1 50 000
__________ cl Interest at First National Bank, Boston.
V. 92. p.
Fitch A Leo con mtgo, $350,-1 1901 4)3 F-A
150J100 Feb 11921 1 "b‘y^Ju?y *1 *1935 ivi'll imake totalVk. fd. 40% ot bonds certified
i0.
Bonds are listed on N . V . Stock Exchange. V. 91, p. l<-7 ooo ($1 000)
______ lint, at Boston Safe Dep. & It. Co., Trusteo.
1905 5 g F-A
100,000 Feb 1 1921
L S & A 1st mtge, $100,000
Dividends.— Pref. Is cum. from Jan. 1 1912. 1st div. °)V Pref.’~ 1 K
gold ($1 000) ...............c*( Int. at Boston Safe Dep. & I r. Co., Trustee. paid April 15 1910; July, 1% % : Oct., 1% % and 1H % ouar. since to and
goiu u i , w
(ouar. p. & i. by Fitch. & Leom. Street Ry.
April 1913; none since.
8572 959’ net after
Current liabilities June 30 1913--------------------------806,156 ---------------- including
E A R N I N G S . — For year end. Dec. 31 1913, gross , 8 0 / z .uou.neo, ai ter
Bonds.— Of tho new consol, mtgo. $150,000 arc reserved to retiro the taxes, $200,819; int., $153,663; pref. div. (7 % ). $24,675, sur., $2-,481.
Owns and operates 31 miles of
sfifh ^ T n ii1/ ^ f c a r - ?
^^Dhddends.— For many years up to and including 1900-01, 8% ; from then Ft.ROAD.—
Smith and suburbs. Standard guage. 60-lb.and 80-lb. 1 rail. 58 cars.
on to 1912-13, 6% per annum.
Owns a park ot 110 acres. Also gas works tor d
h ^hrhtinJr nlanf1 '
ROAD.— Owns 40.85 miles of track. Road extends to Leominster, ficial gas, with 61 miles of mains, and electric power and gl .it Pjant
Lunenburg, Shirley and Ayer. 30 closed passenger cars, 25 open passenger generating capacity, 5,350 horse-power and pole lino of .about i u miles.
cars, 3 express cars and 5 snow plows.
OFFICERS.— Pres., A. S. Iluey; V .-P ., H.
SGarrisonBrizzolara; Gen. M gr., H. C . H o a g l a n d ; Treas. & Aud., N. I. Garrison,
EARNINGS.— For years ending June 30 1913 and 1912:
Mgrs., H. M . Byllesby & Co.. Inc.— V. 88, p. 505. V . 90. p. 236, 303 372,
1912.
1913.
1912.
’1913.
914;
V.
92,
p.
881,
956,
1032,
1178,
1636;
V.
94,
p.
487,
V
.
95,
p.
47, V. 97,
Gross.....................$319,963 $305,140 Dividends paid-- $27,000 $27,000
________ [ _______
p. 298, 1733.
N e t ....................... 111,247 109,540 Balanco, surplus
for
year_______
10,023
11,403
Int., taxes, A c . . - 74,224
71,137
FORT WAYNE, IND.
OFFICERS.— Pres., Supt. and Purch. Agont, W. W . Sargent: V .-P .,
If. I. Wallace; Clerk and Counsel, C. F. Baker; Treas., R. N. Wallis, all of
FT. WAYNE & NORTHERN INDIANA TR AC . CO.— A trolley road.
Fitchburg.— V. 80, p. 1478’ V. 85, p. 468, 722; V. 87, p. 812.
Con'rolled by same interests as the Ohio Electric Ry. and the Terre
Haute Indianapolis & Eastern.
.
..
FOND DU LAC, WIS.
ORGANIZATION.— Incorp. In Indiana on Feb. 13 1911 to take over the
Ft.
Wayne
&
Wabash
Valley
T
r
a
c
.
C
o
.
per
plan
in
V.
92.
p.
391,
o94.
EASTERN WISCONSIN RAILW AY & LIGHT.— Trolley.
The Ft. Wayne A Wabash Valley Traction Co. haoI previously acquired
ORGANIZATION.— Incorp. in Wisconsin on Sept. 23 1903 as a consoli­
consolidation or purchaseithe follow4ng comp 1 •
dation of the Fond du Lac St. Ry. & Lt. Co. and the Fond du Lac A Oshkosh through
Lafayette Street Ry.
Elec Ry. Co. Comprises tho entire street railway, electric-lighting and Ft. Wayne illuffton A Marion Tr.Co. Logansport Railway Co.
gas plants In Fond du Lac. Franchises expire in 1947 and 1951. Owns all Ft. Wayne El. Lt. A Power Co.
Logans. Itoch. A Nor. Trac. Co.
Ft.
Wayne
A
Southw.
Trac.
Co.
W a b a s h - Logansport Traction Co.
tho stock and guar, bonds of the Wisconsin Elec. Ry. V. 88, p. 1252.
Ft. Wayno Traction Co.
Wabash River Traction Co.
STOCK AND BONDS.—• Date.
Interest. Outstanding. Maturity. Lafayette A Logansport Trac. Co.
. , .
Stock $500,000 ($100)........... - - - - - - — - f —
*500.000 In 1913 6%
Furnishes electric light in Ft. Wayne,
^ ^ V a v n ^ w h lc h ^ o ^ m o r i
Fond du Lac St Ry & L mtge\ 1899 5 g J-J
187,500 July 11924 franchises
extend to 1935 and 1998. except in Ft. Wayno, which tor more
$250,000 ($500) g -r& c* n tf/In t.a tN a t. Exch. Bank:, Milwaukee.
than 3
A of street railway are perpetual . the balance'bein^orhutl^ng exten­
1st mortgage $1,500,000 gold! 1903 5 g A-O
1,190,000 Oct 1 1923 sions and extending to 1937. L i g h t i n g /rancMses in 11. W
(SI 000)
___c*tfj Int. at First Sav. &Tr. Go., Milw., Trustee.
Bonds.—3207,000 1st M . bonds are reserved for prior liens and $103,000
are in treasury. Bonds are subject to call on any int. date at 103 and int.
upon 6 mos.’ notice. The Fond du Lac St. Ry. & Lt. bonds cannot bo com. stock of the Ft. Wayne A Nor. Ind. Trac., uoiuers oi pret. received
called. They are guaranteed p. A i. by the Eastern W is. Ry. & Lt., Co.
$ for $, but had to pay $17 50 per share in cash.
Dividends.— 4% per annum has been paid from 1907 to 1912 incl. In
Interest. yOutstanding.
Maturity.
STOCK AND BONDS—
Date.
Interest,
™ ..™
1913, 6% .
$4,000,000 ($100).......................... ^•099.9)0
ROAD.— Operates 27 miles of track in Fond du Lac and botween Fond Common,
Q-M
2.500.000
See text
Pref,6
%
(cum),$4,000,000($100)
­
du Lac and Oshkosh. 704b. T rails.
1.195.000 Mar 1 1931
5%
1st A ref mtge $15,000,000- tf 1911
5 g M-S
1.200.000 Mar 2 1919’
REPORT.— For calendar years:
,
Calendar
Gross
Operating
Net
Taxes
Fixed
Balance, C°dl00) red a t E
O
30 Cenhal Trust C o.. New York, Trusted
Year—
Earnings.
Expenses. Earnings. Accrued.
Cargos. Surplus.
$190,714 $129,704 $16,218 $o8,970 $54,516 Ft*W A W Val'TrYst'cons'Ml 1904
1913......... --.$320,418
5 S VI-S
6,966,000 Mar 1 1934
1912.............. 305,422
175,708
129,714
12,643
55,347 61,721
$7,500,000 g ($1,000) _c*tf JInt. at Commercial Ir. Co., Ihila., trustee.
OFFICERS.— Pres., II. F.Whitcomb, Milwaukee: V .-P., J. F. Pritchard
Ft W A W Vail Tr car trusts—
,
.
17 non
a , ,
Series “ A” ($1,000).........t f ------5 F-A
47,000
gee text
Manitowoc, Wis.; Sec. & Treas., If. F. Whitcomb Jr.. Milwaukee; Gen.
Series " B ” ($1,000).........tf - - - 5 M-S
19.000
See text
M an.. J. P. Pulliam.— V. 87, p. 346; V. 88, p- 1252; V. 98, p. 999.
Wabash Riv Tr Co 1st mtge I 19 0 1
5 g F-A
275 000
1931
(1) W isconsin Electric R y.— A trolley road.
$350X00 ($1,000) g --* n t f( Int. a tN . Haven 1r- C o- N . Haven, trustee
ORGANIZATION.— Incorporated Aug. 16 1908 in Wisconsin and Ft Wayno Tr mtge $1,500,-/ 1899
48A
0
1 192 J
succeeded tho Winnebago Traction C o., sold at foreclosure Aug. 6 1908
as per plan in V. 85, p. 655. Latter company was a reorganization of
Citizens’ Traction Co. in 1900. Eastern Wisconsin Ry. & Lt. Co. owns
stock and guarantees bonds of the Wisconsin Elec. Ry. V. 88, p. 12o5
l*af & Log Tr 1st M $1,000.-/ 1906^ Og r y
J u u v iiv o v 000 g ($1,000) gu p A ic* tf <Int. at Guar. Tr. A S. D. Co., Phlla., rnjstee
Franchises expire Jan. 1 1932.
5 g J -/
400.000 July 1 1935
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. Ft W B A M 1st i\I $400,000) 1905
gold (S1.000) guar p A i . tf (in t. at Guar. Tr. A S. D. Co.,1 *>9a-- t1ru.s(J|2
S t o c k $350 000
____________
_________
$350,000 -------------------&
trustee
1st ' mtgo $1,500,000 gold) 1908
5 F-A
801,000 Aug. 1 1938 Ft; W Power Co mtge.........t f) ^ 9 0 ^ ^
($500 and $ l,000)- .c * t f Jlnt. at Wisconsin Trust C o., Milw.. rrustoe




May 19 4.]

Stock.— B o t h corn , and p ro f, s to c k s aro listed o n P h ila . S to c k E x c h .
V . 91, p . 820.
B onds. - - O f th e 1st & r e f. m t g o ., $ 8 ,8 0 7 ,0 0 0 aro reserved t o ro tiro u n d er­
lyin g b on d s an d rem ain der fo r a cq u isitio n s .exten sion s and a d d itio n s . S u b j.
t o call as a w h ole o n a n y h it. d a y on or a fte r M a r . I 1910 a t 105 and Int. O f
tho F t . W a y n o & W a b . V a l. co n s o l, m tg o . fo r $7,5OO,O0O, $53 1 ,0 0 0 aro re­
served to retiro u n d e rly in g lien s. See V . 78, p . 2011.
In a d d it io n to
b o n d s n o te d a b o v e , thero are $ 3 ,5 0 0 lo st b o n d s o f the L o g a n s p o rt R y . o u t
sta n d in g , d u e S ep t. I 1929. T h e F t . W . & \V. V. co n s o ls o f 1901 aro n o t
s u b je c t to call b e f o r o m a tu r ity . T h e y aro listed o n I’ liila. S to c k E x c h . T h e
W a b . R iv . T r a c . O o . 5s o f 1901 are s u b j. t o call at a n y tim e a t 105 & in t.
L a fa y o tto & L og a n sp o rt 1st M . is clo se d ; n o m o ro b o n d s ca n bo issu ed.
T h o L a fa y o tto S t. R y . 1st M . 6 s w en} e x te n d e d fo r 10 years t o Ju n o 1
1923 at 5 > i% interest.
C a r trusts aro g u a r ., p. <fe 1., b y e n d . b y F t . W a y n e & W abash V a il. T r a c .
Co
T h o Penn. O o . fo r Ins. on L ives & G ra n tin g A n n u ities is trustee.
T h o n otes o f 1011 aro secu red b y $ 2 ,0 0 0 ,0 0 0 1st & r e f. 5 % b o n d s o f tho
c o m p a n y . A n a d d itio n a l $ 5 0 0 ,0 0 0 o f n o te s m a y bo issu ed, b u t o n ly w ith
th e a p p ro v a l o f tho C o m m issio n a n d u nd er th e term s o f th o m o rtg a g e
secu rin g the b o n d s p le d g e d as c o lla te ra l. V . 9 8 , p . 1156.
D ivid en d s.— O n p r o f., I A % q u a r .. fro m orga n iza tion to S ep t. 1912. In
M a y 1913 a scrip d lv . o f 3 % w as p a id , c o v e r in g d iv s . p a y a b le D e c . 1912
and M a r . 1913. See sta te m e n t in V. 9 6 , p . 1422. N o n e sin ce,
I t O A D .— O perates 209 m . m ain track c o n n e ctin g F t . W a y n o , H u n tin g ­
to n , W a b a s h , P eru , L o g a n s p o rt, D e lp h i, L a fa y e tte an d B lu ffto n ; also local
lines In F t. W a y n o , W a b a sh , P e ru , L o g a n sp o rt and L a fa y e tte .
1 o tal tra ck ,
220 m ilas. A t L o g a n s p o r t, P eru, W abash a n d B lu ffto n c o n n e c tio n is
m ad e fo r In dia n a p olis o v e r track s o f Indian a U n ion T r a c t io n C o .
In M a y
1906 began th rou gh sc r v ic o b etw een F t. W a yn o an d In d ia n a p o lis o v e r
tracks o f U nion T r a c tio n C o . o f In d . See V . 82, p . 1101.
R a ils, 6 0 , /0 ,
72 80 and 90-Ib.
O w ns 2 p o w e r h ouses an d 4 pleasure p a rk s. O w ns
180 pass, cars and 60 o th e r cars. C o n tr o ls en tiro e le ctric ligh t an d p o w e r
business o f F t. W a y n e .
R E P O R T .— F o r calen d ar years en din g D e c . 31:
Calendar
Gross
N et (after
Other
In terBalance,
Y ear—
E arn ings.
T a xes).
In com e.
est.
Su rplus.
.. $ 6 9 6,50 7 $2,9 3 4 $ 5 2 7,18 2 $17 2,25 9
1 9 1 3 .................................. $1,8...........
1 4 ,6 4 3
648 ,493
4,223
5 09 ,790
142,926
1 9 1 2 _______ - ................... 1 ,708,875
O F F I C E R S .— C h airm an o f B o a rd , J . L o v e rin g Jo n e s; P re s ., Jam es M .
B a rrett, F t . W a y n e ; V .-P . & T r e a s ., H e n ry C . P a u l, F t . W a y n e ; S e c .,
I I . E . V ord orm a rk , F t. W a y n o ; A sst. S e c ., H en ry R a in e v , P liila .— V 92.
p . 594 , 794; V . 9 4 , p . 82 6 , 982 ; V . 9 6 , p . 1296, 1422; V . 98, p . 1071, 1156,
1241.
F O R T W A Y N E & S P R I N G F I E L D R A I L W A Y C O .— A tr o lle y r o a d .
R eceivership.— O n S e p t. 14 1912 passed in to th e hands o f a r e ce iv e r.
Up
t o d a te o f receiversh ip m o rtg a g e in terest w as paid.
On F e b . 3 1914 J u d g e E d w a r d O ’ R o u rk e , a t F o rt W a y n e , ord e re d tho
salo o f the p r o p e r t y , th e m in im u m b id to be $ 2 0 0 ,0 0 0 .
O R G A N I Z A T I O N .— In c o r p o r a te d J u ly 2 1903 In In d ia n a . V . 8 6 , p.
1012.
P riva te rig h t o f w ay b etw een F t. W a y n o & D e ca tu r. Franchise for
50 years in D e ca tu r, 28 years In F t . W a y n o . Seo V. 8 9 . p . 162.
S T O C K A N D B O N D S — ■ D ale.
Interest.
O utstanding.
M a tu rity .
C o m m o n $ 1 ,0 0 0 ,0 0 0 ( $ 1 0 0 )---- ---------F -A
$67 6 ,3 0 0
See text
First m ortg a g e $1,000,000 1 1910
5 g A -0
2 09 ,000 A p ril 1 1930
gold ($ 5 0 0 )______________ c* j In t. at C le v e la n d T r u s t C o ., C lo v e ., T ru ste e .
Bonds.— A re s u b je c t to call a t 105 on a n y interest d a y .
D ivid en d s.— In 1907, 2 % ; in 1908, 4 % ; in 1909, 4 % ; in 1910, ( 7 ).
E A R N I N G S .— F o r y ear e n d in g D e c . 31 1913, gross, $53 ,3 8 9 ; n e t, after
taxes, $ 2 ,1 1 5 .
R O A D .— O perates 2 1 .6 m iles b etw een D e ca tu r an d F t . W a y n e .
T ota
tra ck , 23 .7 m iles. 7 0 -lb . T rail; g a u g e , 4 f t . 8 '£ in . A n exten sion fro m
D e ca tu r t o B ern e (12 m iles) is being co n s tr u c te d .
O F F I C E R S .— Pres. * M g r ., W . 11. F ledderJohann; V .- P ., B . A . F le d d e rJohann; S e c ., J oh n H . K o e n ig ; T r e a s ., O has. D ir k s o n .— V. 8 6 , p. 1042;
V . 8 9 , p . 162; V . 9 0 , p . 1101; V . 9 8 , p . 522.

STO C K A N D BON DS—
D a te.
In terest. O utstanding.
M a tu rity.
C o m m o n $ 8 5 0 ,0 0 0 ..............................................................
$ 7 0 1 ,3 0 0
..................
P rof $40 0 ,0 0 0 5 % n o n -c u m —
____
___________
150,000 ------------------F reeport R y L t & P 1st m t g e f 1903
5 g M -N
3 2 2 ,0 0 0
See tex t
$ 3 5 0 ,0 0 0 g ($ 1 ,0 0 0 )--------c * l A m e rica n T r . & S a v . B k ., C h ic a g o , tru stee.
Freep R y & L t m tg o $ 2 ,0 0 0 .- / 1910
5 M -N
2 3 0 ,5 0 0 N o v 1 1 9 3 5
000 g ($ 1 0 0 , $500 & $ 1 ,0 0 0 ) I I n t . a t C o n t. & C o m m . T r . & S . B ., C h .,t r u s .
B on ds.— In t. o n F . I t ., L . & P . b o n d s is p a y a b le a t o ffic e s o f R u d o lp h
K le y b o lt e C o . , I n c . , in N . Y . , C in . a n d C h ic . A r o s u b . t o call a fter M a y 1
1913 b y lo t a t 105 & in t. S 28 .00 0 h a v e b e e n re tire d . M a t u r it y o f b on d s is
as fo llo w s : $ 5 ,0 0 0 d u o in e a ch o f th o ye a rs 1910. 1912 an d 1913 an d $ 5 ,0 0 0
a n n u a lly fro m 1915 t o 1921 in c l., th o rem a in d er in 1922. A sk. fd . p r o v id e s
fo r th e p a y m e n t o f $2,0 0 0 p er a n n . fo r firs t 10 y r s . and $ 5 ,0 0 0 per a nil, th e r e ­
a fte r. O f tho F re e p . R y . & L t . b o n d s , $ 3 5 0 ,0 0 0 aro reserved fo r prior liens
an d $ 7 0 ,5 0 0 (in a d d itio n t o a m o u n t sh o w n in ta b le ) are h e ld in th e trea s­
u ry .
T h e y aro s u b je c t t o call a t 102 A o n 30 d a y s ’ n o tico in 1915. Sinking
fu n d b egin s in 1915. V . 9 1 , p . 716.
E A R N I N G S .— F o r c a l. y e a r 1913, g ro ss, $16 3 ,3 7 5 ; n e t, $48 ,6 9 8 .
R O A D .— O perates 9 m . o f tra ck ; 60 a n d 9 0 -lb . T rail. S ta n d a rd g a u g e .
— V . 91, p . 716; V . 9 5 . p . 480 .

FRESNO, CAL.
F R E S N O T R A C T I O N C O .— A tr o lle y r o a d .
In 1910 S ou th ern P a c ific assu m ed c o n t r o l.
O R G A N I Z A T I O N .— I n c o r p . in C a lifo rn ia in 1903 t o b u ild 1 9 6 m . o f e le c ­
tric ra ilw a y , in clu d in g lines fro m F resn o t o W a w o n a , 79 m .; F re sn o t o S elm a,
F re sn o t o T r im m e r 's Springs a n d F re sn o t o C e n tra l an d W a s h in g to n C o l ­
on ies. S to ck h o ld e rs in 1904 a u th . a m tg o . t o se cu re $ 5 ,0 0 0 ,0 0 0 b o n d s .
V . 78, p . 1222.
STOCK AN D BON DS—
D a te.
Interest. O utstanding.
M a tu rity.
$ 5 ,0 0 0 ,0 0 0 ....................
S to c k $ 5 ,0 0 0 , 0 0 0 .- - ............... ........................................7 5 0 .0 0 0 J u ly 1 1944
M o r tg a g e $ 5 ,0 0 0 ,0 0 0 .................. 1901
128.000 J a n
1 1922
F resn o C it y R y first m t g e f 1902 _ 6 g5h
$15 0 ,0 0 0 g o ld ($ l,0 0 0 )--C * \ U n io n T r u s t C o . , San F r a n cis c o , T r u s te e .
B on ds.— F resn o C it y b o n d s h a v e a sin kin g fu n d o f $ 3 ,0 0 0 p er an n u m fo r
firs t 2 years, $5,0 0 0 per an n u m fo r n e xt 5 y e a r s an d $ 7 ,5 0 0 per ann um fo r
n ext 10 yea rs, co m m e n cin g Ja n . 1 1905. B o n d s c a n n o t b e c a lle d . I n ­
terest p a y a b le in N ew Y o r k and San F ra n cisco .
C O M B I N E D E A R N I N G S .— In c l. F rosn o C it y R y . Y e a r en din g Ju n e
30 1 9 1 3 .gross, $ 21 4,22 1; o p e r. e x p .,I n t ., t a x e s ,& c ., $22 7 ,9 5 2 ; d o f ., $13 ,7 3 1 .
R O A D .— In clu d in g th o o ld F resno C it y R y . (w h ich th e F re sn o T r a c tio n
op e ra te s u nd er le a s e ), has 31 m iles o f tra ck in an d a b o u t F r e s n o . Stan d ard
ga u g e , 7 5 -lb . T rail.
O F F I C E R S .— P re s., W . F . n e r r in ; S o c .. F . C . A m b r id g o , F resno: G e n .
M g r ., F . W . W e b s te r.— V . 76, p . 1192; V . 7 7 , p. 1746; V . 7 8 , p . 1222.

GADSDEN, ALA.
ALABAM A C IT Y G AD SDEN & A T T A L L A R Y .
O R G A N I Z A T I O N .— In c o r p o r a te d u nd er a sp e cia l ch a rte r fro m the S ta te
o f A la b a m a . O p erates, besides street r a ilw a y , a lig h t p la n t, an ice p la n t
and a c o a l y a r d .
ST O C K A N D BO N DS—
D a te.
Interest. O utstanding.
M a tu rity.
S to c k $50 0 ,0 0 0 ($ 1 0 0 ).......... ..
....................................
$33 0 ,0 0 0 ......................
N o w m o rtg a g e $30 0,00 0 g o ld j 1906
5 g M -N
2 9 8 ,0 0 0 N o v 1 1936
( $ 1 ,0 0 0 ) _________________ t f (In te r e s t a t T r u s t C o . o f A rn e r., N . Y . , T r u s t .
Bon ds.— T h o unissued b o n d s aro re se rv e d fo r fu rth er a d d itio n s at 9 0 %
o f c o s t . N e w b o n d s are s u b je c t t o c all o n a n y in terest d a te a t 105.
R O A D .— O perates 11 m iles o f tr a c k , c o n n e c tin g th e p o in ts n am ed in th e
t itle . S tan d ard gau g e. 4 0 -lb . T rail. E a rly in 1910 b e g a n o p era tin g a
2 -m ile exte n sio n t o p la n t o f S ou th ern Iro n & Steel C o .
O F F I C E R S .— P r e s ., E . T . S ch u ler, G a d s d e n , A la .; V .- P . & T r e a s .,
G . II. S ch u ler, J a ck s o n v ille , F la .— V . 8 3 , p . 817 .

FORT WORTH, TEXAS.
N O R T H E R N T E X A S E L E C T R I C C O .— A h old in g c o m p a n y .
O f th o c o m m o n s t o c k , $3 5 0 ,0 0 0 is o w n e d b y P u b . S cr v ico In v e s t. C o .
O R G A N I Z A T I O N .— I n c o r p o r a te d in M a in e N o v . 16 1905 and o w n s the
entiro s t o c k an d p a rticip a tin g b o n d s o f tho N o rth e rn T e x a s Traction C o .,
w h ich d oes all th o o le ctric-ra ilw a y business in Fort W o rth an d o p e ra te s an
in teru rb an lino betw een th a t c it y an d D a lla s , 33 m iles. E n ters D allas o v e r
its ow n track s. Seo V . 8 9 , p . 411.
On Jun o 29 1911 tho F o rt W o r th S ou th ern T r a c . C o . w as in c o rp . in T e x a s
(au th . s to c k $ 1 ,5 0 0 ,0 0 0 ; o u t ., $ 1 ,0 0 0 ,0 0 0 — all o w n ed b y N o rth e r n T e x a s
E lectric C o . ) , t o ow n an d o p e ra te an in teru rb an railw ay 28 m iles betw een
F o rt W orth an d C le b u rn o . Franchises o f N o rth e rn T e x a s T r a c . C o .
in F t. W o r th exp iro in 1973; in D a lla s in 1920 and 1953; o th e rs be tw e e n
1945 and 1950; has p riv a te r ig h t-o f-w a y o u ts id o o f citie s.
F t . W o rth So.
T r a c . C o . in F t. W o rth an d C le b u rn o exp ire in 1936; betw een these cities
has p riv a te r ig h t -o f-w a y , o x co p t in to w n s, & c ., in w hich cases its rig h ts e x ­
piro in 1961.
V . 92, p . 1243. R o a d was c o m p le te d in A u g . 1912 and began
o p era tion in S ep t. 1912.
.
,
„
On F ob . 24 1913 sh areh olders v o te d to Increaso a u th . p re f. s to c k fro m
$ 4 ,5 0 0 ,0 0 0 t o $ 5 ,0 0 0 ,0 0 0 and th o c o m . fro m $ 2 ,5 0 0 ,0 0 0 t o $ 5 ,0 0 0 ,0 0 0
(V . 96, p . 488 , 6 5 4 ), and h olders o f b o th classes o f s to c k w ere g iv e n tho right
t o s u b s crib e for $ 6 5 0,00 0 now c o m m o n s to c k a t par.
V . 96. p . 790 .
STOCK A N D BO N DS—
D ate. Interest. Outstanding. Last D iv.
C o m m o n $ 5 ,0 0 0 ,0 0 0 ($ 1 0 0 )...............
Q -M
$ 3 ,1 5 0 ,0 0 0 J u n o ’ 14, 1 M
P ref 6 % n -c $ 5 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ------M &S
4 ,0 0 0 ,0 0 0 M a r ’ 1 4 ,3 %
C oll trust M $ 1 0 ,0 0 0 ,0 0 0 g o ld
1910 5 g J-J
3 ,0 6 3 ,0 0 0 Jan 1 1940
sink fu n d (seo to x t)c * & r * t f ( I n t . a t C o m m o n w e a lth l r. C o ., B o s t ., T r u s t.
N o T e x Trac 1st M $ 2 ,5 0 0 ,0 0 0 ( 1903 5 g J-J
2 ,5 0 0 ,0 0 0 Jan 1 1933
($ 1 ,0 0 0 ) g o ld — no sin k in gl In t. at C itize n s S a v . & T r . C o . , C l o v . , T ru s .
f u n d __________________ c * t f l o r a t C h ase N a t. B a n k . N e w Y o r k .
N o T e x Trac p a r ticip a tin g M . . ------------------* 2 ,0 2 4 ,0 0 0 ____________
* A ll d ep o s ite d as p a r t co llateral fo r th e collateral tru st 5s o f th e N o r t h
T e x a s E le c tr ic C o .
,
,
.
___
_
Stock.— 'Tho p rof, s to c k is re d e e m a b le a t 110. V . 9 4 , p . 1449. B o th
classes o f s to c k are listed on the B o sto n S to ck E x ch a n ge .
Bonds.— O f th o c o ll, trust b o n d s, $ 2 ,5 0 0 ,0 0 0 aro reserved to rotiro N o r t h ­
ern T e x a s T r a c . 1st M . b o n d s; $ 3 1 4,00 0 in treas.; $62 ,0 0 0 h a v e been re tire d .
C o u p o n b on d s aro in d e n o m . o f $ 1 ,000; rogis. b o n d s, $ 1 ,0 0 0 , $ 5 ,0 0 0 and
S 1 0 .0 0 0 . O allablo as a w h ole o r in p a rt, fo r sin k. fd . o n ly , at 105 and in t. on
an y Int. d a te . Sinking fu n d o f 1% o f b o n d s o u t b egan N o v . I 1911. B o n d s
are secu red b y d e p o s it o f all th o s t o c k o f th o N o r t h . T e x a s T r a c . C o .
V. 90,
p . 37 3 , 1239. T h e N o rth e rn T e x a s Traction C o . b o n d s are s u b je c t t o call
as a w h ole on a n y in terest d a y a t 105 an d interest.
D I V I D E N D S .— F irst d iv . on p r e f. ( 1 % ) p a id M a r c h 1 1906 and 2 %
S ep t. 1 1906: 1907 to 1913 ( i n d .) , 6 % per a n n u m .
In 1914, M a r c h , 3 % .
F irst d iv . on c o m ., 2 % , p aid S e p t. 1 1909; in 1910, 5 M % ; in 1911 and
1 9 1 2 ,0 % ; in 1 9 1 3 ,M a r c h , \ X
A % \ Ju n o, \ A %\ in S e p t, ra to w as increased
t o 1 f i % q u a r.; D e c ., l % % \ in 1914, M a r c h , 1 % % ; J u n e , 1 M % R E P O R T .— O f th e co m b in e d co m p a n ie s fo r th e 12 m o n th s ending
D e c. 31 1913, g r o s s , $ 2 ,1 3 2 ,2 0 0 ; n e t, after taxes, $ 95 2,25 9: ch a rge s, $ 2 6 7 ,­
780; sin k , fu n d , $19 ,1 3 8 ; p r e f. d i v .. $ 24 0,00 0; c o m . d i v ., $19 4 ,9 0 4 ; su rplu s,
$23 0 ,4 3 7 .
R O A D .— S u b sid . c o s . o p e ra to 145.78 m iles o f tr a c k ,s ta n d a r d gau g e; 187
passenger an d 16 oth er cars.
O F F I C E R S .— P r e s ., M a rsh a ll M . P h inn ey; V .- P s ., W ilb u r A . C a rter
and G u y L . W e y m o u th ; S e c ., C h o s tcr M . C lark ; 'I r o a s ., H en ry B. S a w ye r;
G en . M g r s ., S ton o & W ebster M g t . A s s n ., B o s to n .— V . 94. p. 1449; V. 95,
p . 680; V . 9 0 , p . 48 8 , 654 . 790; V . 9 7 , p . 444; V . 9 8 , p . 1157.

FREEPORT, ILL.
F R E E P O R T R A IL W A Y & L IG H T C O .
In A u g . 1912 c o n tr o l w as acq u ire d b y M id d le W est U tilities C o ., w h ich
seo in ou r “ R a ilw a y & Industrial S e c tio n .’
O R G A N I Z A T I O N .— In c o r p . In Illinois on A u g. 20 1910 as a co n s o lid a ­
tion o f the F reep ort R y . L ig h t & P o w e r C o . and tho F reeport R y .& L ight
C o . (th o h old in g c o m p a n y ).
Franchises exp ire M a rcli 1 1923.
Has tr a ffic arran gem en t fo r 50 years
w ith tho R o ck fo rd & Interu rban R y . C o ., allow ing ears o f th a t c o m p a n y
t o on tcr F re e p o rt. A ls o has c o n tr a c t fo r c ity ligh tin g.




51

ELECTRIC RAILWAYS

.

GAINESVILLE, GA.

G A IN E S V IL L E R A IL W A Y & P O W E R C O .
O R G A N I Z A T I O N .— Irtcorporated in G e o rg ia in J u ly 1909.
Is successor
t o th e G ain e sv ille E le ctric R y ., so ld at fo re c lo s u r e .
V . 8 9 , p . 103.
ST O C K A N D BO N DS—
D a te.
I n terest.
Outstanding.
M a tu rity.
S t o c k . $ 1 5 0 .0 0 0 (5 1 0 0 )________ ______
___________
$ 1 3 0 ,5 0 0 ............... ..
M o r tg a g e ,
$ 1 5 0 ,0 0 0 ,
g o ld ! 1909
6 g J -J
130 ,500 Ja n . 1 1 9 3 0
( $ 5 0 0 ) _________________ c * tf| Int. a t C en t. B k .& T r .C o r p .,A tla n ta ,G a .,T r u s .
Braids.— R e m ain in g b o n d s are fo r e x ten sion s an d b e tte rm e n ts . S u b je c t
to call a fte r 1914 at 105.
E A R N I N G S .— F or calen d ar y ear 1913, g ro s s , $ 3 4 ,8 0 6 .
In 1912, g ross,
$ 3 5 ,3 0 4 .
In 1911, gross, $26 ,0 2 9 .
R O A D .— O perates 6 m iles be tw e e n G ain e sv ille a n d N e w H o lla n d an d to
C h a tta h o o c h e e P ark . Stan d ard g a u g e , 7 0 -lb . T rail.
O F F I C E R S .— P res.. W . A . C a rlisle; V . - P . . W . I I . S la ck ; S e c .. O p h elia
M e r c k .— V . 8 9 . p . 103.
_________

•

GALVESTON, TEXAS.

G A L V E S T O N -H O U S T O N E L E C T R I C C O .— A h o ld in g c o m p a n y .
O R G A N I Z A T I O N .— In c o r p . in M a in e o n M a y 8 1907. C o n tro ls
th ro u g h ow n e rsh ip o f s to c k the G a lv e sto n E le c tr ic C o . a n d the H ou ston
E lec. C o . , w h ich co m p a n ie s d o th e en tiro ele ctric railw ay a n d p a rt o f th e
e le ctric ligh tin g and p o w e r business in G a lv e sto n and the en tire e le ctric
ra ilw a y business in H o u s to n .
A lso o w n s s to c k ot G a lv .-H o u s . E lec. R y ..
an in teru rb an ro a d b etw een G a lv e sto n a n d H o u s to n , 4 4 .5 m iles, and g u a r­
a n tees its b o n d s , p ., i. an d s. f . F ranchises exp ire in G a lv e sto n in 1950, In
H o u s to n , 1935. T h o interu rban Is o n p r iv a te r ig h t-o f-w a y . $ 1 5 0 ,0 0 0
c o m . s to c k is ow n e d b y P u b lic S e rvice I n v e s tm e n t C o .
On O ct. 6 1913 tho s to ck h o ld e rs a u th o riz e d an in crea so in th e ca p ita l
s to c k fro m $ 4 ,0 0 0 ,0 0 0 c o m m o n a n d $ 3 ,0 0 0 ,0 0 0 p re f. to $ 5 ,0 0 0 ,0 0 0 c o m m o n
an d $ 4 ,0 0 0 ,0 0 0 pref. Seo V . 9 7 , p . 80 2 . 1024.
Shareh olders w ere o ffe r e d a t p ar on o r b e fo r e F e b . 25 1914 $ 1 ,0 0 0 ,0 0 0
new c o m m o n . V . 98, p . 522. T h is issue retired th e c o n v e r tib le 6 s w h ich
fell d u o A p ril 1 1914 a n d p r o v id e d fo r fu tu re c a p ita l requ irem en ts, & c.—
V . 9 8 , p . 386 .
STO C K A N D BON DS—
D a te. ■In te re s t. O utstanding.
Last D iv .
C o m m o n , $ 5 ,0 0 0 ,0 0 0 ($ 1 0 0 )________
M -S 15 $ 3 ,9 8 3 ,6 0 0 M a r ’ 14, 3 X
A %
Prei $ 4 ,0 0 0 ,0 0 0 6 % cu m ( $ 1 0 0 ) ------M -S 15
3 ,0 0 0 .0 0 0 M a r ’ 14, 3 X
A %
G a lv E le ctric 1st M $ 2 ,5 0 0 ,-1 1905
5 g M -N 1 ,413,000
M a y 1 1940
g o ld ($ 1 ,0 0 0 )_________ c * t f j l n t . a t O ld C o lo n y T r u s t C o ..B o s t o n , T r u s [ te e , or a t c o m p a n y ’ s a g e n c y in N ew Y o r k .
G a lV -lIo u s E l R y 1st M $5,-1 1909
5 g A -O
2 ,9 7 4 ,0 0 0 O c t . 1 1954
0 0 0 ,0 0 0 g g u a r _______c & r t f j l n t . a t O ld C o lo n y T r . C o . , B o s t ., T ru stee.
H ou s E lec C o 1st M $2,500,-1 1900
5 g F -A
2 ,0 8 9 ,0 0 0 A u g . 1 1925
000 g ($1,000) sk d . . c * t f j l n t . a t I n te r n a l. T r u s t C o . , B o s t ., T r u s te e .
Stock.— P rel. is c a lla b le a t 120 a n d a c c u m . d lv . B o th p r e f. an d c o m .
are listed on B o s to n S to c k E x ch a n g e . U nissu ed p r e f. ($9,500) is reserved
fo r e x ch a n g o o f an e qu a l a m o u n t o f p re t. o t G a lv e s to n E le c tr ic C o . an d
H ou ston E le ctric C o .
Galveston Electric C o.— O f th e b o n d s , S I ,0 2 6 ,0 0 0 reserved fo r a d d ition s
an d im p ts. at 8 0 % o f c o s t an d $ 6 1 ,0 0 0 h a v e been r e tir e d . A sinking fu n d
o f 1 'A % o f b o n d s c e rtifie d b e g a n J u ly 1 1906, if ea rn ed , an d o n J u ly 1 1 9 1 1
b e ca m e a fix e d ch a rge . B o n d s aro s u b je c t t o call as a w h o le o r in p art for
sinking fu n d on a n y in t. d a te a t 1 1 0 an d in t. o n 30 d a y s ’ n o tico . Seo V . 8 1 ,
p . 975.
G alceston-IIouston E lectric R y.— O f th o rem ain in g $ 2 ,2 5 0 ,0 0 0 b o n d s,
$2 5 0 ,0 0 0 aro h eld in trust fo r b e n e fit o f c o m p a n y and b a la n co is reserved
fo r a cq u isitio n s a n d im p ts . D e n o m ., c o u p ., $500 an d $ 1 ,000; r e g ., $1,0 0 0
an d $ 5 ,0 0 0 . S u b je c t t o call o n a n y in t. d a y in w h olo or in p a r t ,, fo r sinking
fu n d , at 105 a n d in t. S in k, fu n d o f 1 % o f b o n d s F o b . 1 1910 t o 1914; th ere­
a fte r 1 X
A% .
F irs t fiv e p a y m e n ts w a iv a b le .
B o n d s are g u a r ., p ., i. and
s. f . , b y G a lv .-H o u s . E le c . C o . Seo V . 90, p . 697 .
H ou ston Electric C o .— E n tire issu e , b u t n o t a n y p a rt, ca n b e ca lled at
1 0 7 'A a n d in t. S inking fu n d o f l ' A % o f b o n d s o u ts ta n d in g p a y a b le on
A u g . 1 ea ch y e a r. See V . 74, p . 680 . $ 4 1 1,00 0 o f b o n d s not reported
o u ts ta n d in g w as held b y tiris fu n d o n D e c . 31 1913.
D I V I D E N D S . — O n c o m m o n , 1 A % sem i-a n n . sin ce S e p t. 1909 t o and
in cl. M a r . 1912. a m o u n t th en increased an d p aid 2 % in S e p t. 1912. In
M a r . 191 3 in crea sed t o 2 A % , in S e p t, t o 3 % and in M a r . 1914 t o 3 A % •

ELECTRIC RAILWAYS

52

[Vol. XCVIII.

E A R N I N G S .— O f th o c o m b in e d c o m p a n ie s fo r 12 m o s . e n d in g D o c . 31
191 3, gross, $ 2 ,3 7 3 ,0 6 5 ; n o t , a fte r ta x e s , $ 1 ,0 2 0 ,6 9 2 ; c h a rg e s, $36 3 ,3 0 4 :
s in k , fu n d s , $ 5 7 ,9 0 8 ; p r e f. d i v . ( 6 % ) . $ 1 6 9 ,6 2 6 ; c o m . d iv . (5 )4 % ) , $16 5 ,0 0 0 ;
s u rp lu s, $ 2 6 4 ,8 5 2 .
O F F I C E R S .— P r e s ., M a rsh a ll M . P h ln n e y ; V . - P . , G . L . W e y m o u t h ;
S e c ., C h e s te r M . C la r k ; T r e a s ., I lo n r y B . S aw yer: G e n . M g r s ., S to n e &
W e b s te r M g t . A ssn .— V . 9 5 , P. 679 ; V . g 6 , p . 4 1 9 , 652; V . 9 7 , p . 6 6 6 ,
8 0 2 ,1 0 2 4 ; V . 9 8 , p . 155, 3 8 6 , 522 .

O F F I C E R S .— P re s., P o w e ll E v a n s , P h ila .; S e c. & T r e a s ., J . A .M c K e e ,
P h ila .; A s s t. S e c. & T r o a s ., C h a s. E . H an n a, B a la , P a .; G o n . M g r ., VV. S .
L e ib , P o t ts v illo .
V . 8 0 , p . 1729; V. 8 2 , p . 1157; V . 8 7 , p . 286 .
(1) S c h u y l k i l l T r a c t i o n C o . — A tr o lle y r o a d .
O R G A N I Z A T I O N .— C h artered S e p t. 26 1892, in p o r p o t u it y , u n d o r t h o
M o t o r T r a c tio n A c t o f M a r c h 22 1887.
R o a d o p o n o d J u n o I 189 3. O n
J a n . 6 1893 leased fo r 999 years tho M a h a n o y C it y S h e n a n d o a h G ir a r d v illo
& A sh la n d Street R y . O n O ct. 5 1893 leased fo r 999 ye a rs th e A s h la n d
L o c u s td a lo & C on tralia E le c . R y . O w n s all th o s t o c k o f these t w o r o a d s ,
w h ich is p le d g e d under th o first m o rtg a g o . O n A p ril 27 1900 leased fo r 999
yea rs th o L a k esid e R y ., w h ich c o n n e cts th o t w o en ds o f th o c o m p a n y ’ s
GARY, IND.
rou tes fr o m M a h a n o y C it y t o S h on an d oah an d p u rch a se d 2 ,6 0 0 o f th o 5 .0 0 0
G A R Y & IN T E R U R B A N R R .
shares o f th o c a p ita l s t o c k . O n J a n . 24 1901 leasod th o S h e n a n d o a h &
T h o C h ic a g o -N e w Y o r k E le c t r ic A ir L in o R y . (in c o r p o r a te d in M a in e , P o tts v illo S tre e t R y . fo r 999 yoa rs (in c o r p o r a te d A u g . 1 1 9 0 0 ), a n d fro m
$ 1 2 ,0 0 0 ,0 0 0 s t o c k ); Is u n d e rs to o d t o h o ld $ 2 ,6 0 0 ,0 0 0 G a r y & In te r u r b a n R R * P o tts v illo t o S h on an d oah . 13 m iles, an d b o u g h t all its c a p it a l s t o c k . T h o
L a k e sid e S h en an d oah & P o tts v illo s t o c k is p lo d g e d u n d o r c o n s o l, m tg e .
s t o c k in its trea su ry . See V . 9 7 , p . 950 .
S T O C K & B O N D S — M ile s . D a te.
In terest. O utstanding.
M a tu r ity .
O R G A N I Z A T I O N .— I n c o r p . J a n . 28 1913 In In d ia n a as a c o n s o lid a tio n
1893
5 g A -O
$500,000’ A p ril 1 1943
o f th e G a r y & I n te ru rb a n R y ., G a r y C o n n e c tin g R y s ., V a lp a ra iso & N o r t h ­ 1st M , $ 5 0 0 ,0 0 0 . g ,$ 5 0 0 2 2 K
& $ 1 , 0 0 0 , s f , $ 1 0 ,0 0 0 I n t . is p a id a t E q u ita b lo T r . C o ., T r u s te o , P h ila .
ern R y . a n d th o G o sh e n S ou th B o n d & C h ic a g o R I t .
V . 9 6 , p . 1422.
y
’ly
a
fte
r
A
p
r
.
'98..C*
B o n d s m a y b o pu rch ased fo r sin k in g fu n d a t 105.
P r io r t o c o n s o lid a tio n th e la s t-n a m e d h a d o w n e d all th e s t o c k o f th e G a r y
1893
4 g M -N
150 .000 N o v 1 1923
C o n n e c tin g R y s ., 5 1 % o f th e s to c k o f th o V a lp a ra iso & N o rth e r n R y . an d 1st M . L a k esid e R y , g , 5 )4
$ 1 5 0 ,0 0 0 , g u a r 'd b y In te re st a t E q u ita b lo T r u s t C o . , P h ila d e lp h ia
a b o u t 4 0 % o f th o G a r y & In te ru rb a n R ailw ay s s t o c k , th e fo u r c o m p a n ie s
T r u s te e .
S ch u y lk ill T r a c t i o n . h a v in g been o p e r a te d u n d er jo in t c o n t r a c t.
co n so l m tg o , s e e l ------1901
4 ) 4 g J -J
1 0 5 ,0 0 0 J u ly 1 1951
Franchises o f o ld G a r y & I n te ru rb a n R y. exp ire as fo llo w s - I n G a r y , 1957. N otw
e x t ($ 1 ,0 0 0 ), g ___ c * /I n t e r e s t a t F id e lity T r u s t C o . , P h ila ., T r u s te o .
T o lle s to n , 1959; E a s t C h ic a g o & In d ia n a H a r b o r , 1949; H a m m o n d , 1939.
P ow e r-h o u s o m o r tg a g e _______ ______
________
5 ,0 0 0 ____________
STO CK A N D BO N DS—
D a te .
In terest. O utstanding.
M a tu r ity .
Bonds.— A u th . a m o u n t o f co n s o l, m tg o . w as 8 2 ,0 0 0 ,0 0 0 , b u t m tg o . has
$ 3 ,7 0 7 ,8 0 0
C o m m o n $ 4 ,0 0 0 ,0 0 0 ($ 1 0 0 )___ ______
________
been c lo s e d w ith $ 1 0 5 ,0 0 0 o u t . O f th o o u ts ta n d in g b o n d s $ 3 6 ,0 0 0 aro h o ld
1
,0
0
0
,0
0
0
P r e f 6 % n o n - c $ 1 ,0 0 0 ,0 0 0 (8 1 0 0 )................................
In tho tre a su ry . S u b je c t t o ca ll a t 105 an d in te re st. Sinking fu n d o f 1 %
Gary & Interu rb an Ry—
o f b o n d s o u t b e ca m o o p e ra tiv e A u g . 1 1907.
1 Xauw
1930
R e fu n d in g a n d fir s t m o r tg a g e r 1910
5 J -J
*1 ,,1
j.5 3 .0 0 0 J u ly x
R O A D .— S ch u ylkill T r a c tio n D iv is io n , 2214 m iles o f tr a c k , b o g in n in g a t
8 1 0 ,0 0 0 ,0 0 0 g o ld (8500 a n d /l n t . in N . Y . o r C h ic ., o r th ro u g h L a w re n ce
L o c u s td a lo , th e n ce th rou gh A sh la n d , H olm osvillo t o G ir a r d v illo . fo r m in g
$ 1 , 0 0 0 ) - . ........................... .......I B a rn u m & | C o .,W o s t.T r .& S a v .B k .,O h .,T r .
th ere a Y , o n e b ra n ch ru n n in g th rou gh L o s t C ro o k t o S h o n a n d o a h an d th o
C o n v n o tes $ 3 5 0 ,0 0 0 g o l d / 1912
6 g M -S
3 5 0 ,0 0 0 S e p t
l 1915
o th e r b ra n ch t o M a lz o v illo , G ilb o r to n an d M a h a n o y C it y .
L a k e s id o D i v i ­
(8500 an d $ 1 ,0 0 0 )............. c* \ B a ltlm o r o T r u s t C o m p a n y , T r u s te o .
s io n , 514 m iles. T o t a l, 28 m iles. 60 an d 7 0 -lb . T r a il. E x te n sio n s o f 43
Gary C onnecting R ys.—
m iles p ro p o s o d an d ch arters o b ta in e d . O p oratos 51 m o t o r ca rs , 4 w o r k
F irst m tg o $ 4 0 0 ,0 0 0 g o l d / 1911
5 g J -D
4 0 0 ,0 0 0 Ju n o
11921
($500 an d $ 1 ,0 0 0 ) g u a r . .c * l W e s t e r n T r . & S a v . B a n k , C h ic a g o , T r u s te o . cars an d 2 s n o w sw eep ers. E x to n siv o im p ro v e m e n ts h a v e bo o n m a d o .— ■
V . 80. p. 1
7
2
9
. ___________ _
Valparaiso & N orthern R y .—
F irst m tg o $ 2 5 0 ,0 0 0 ($100) g / ---------5 g A -O
250 ,0 0 0 A p ril
11930
c a lla b lo a t 105-------------------c l l n t . a t M e t . T r . & S a v . B k ., C h ic ., T r u s te e .
GLOVERSVILLE, N. Y.
G oshen South Bend & Chicago R R .— ■
F O N D A J O H N S T O W N & G L O V E R S V I L L E R R . C O .— S to a m a n d
C o u p o n n otes $ 1 0 0 ,0 0 0 ($ 5 0 0 j 1913
6%
1 0 0 ,0 0 0 N o v 1 1915
ele ctric r o a d .— See sta te m e n t in “ R a ilw a y a n d In d u s tr ia l’ ’ S o c t io n .
a n d $ 1 , 0 0 0 ) (closed ) g u p & il
Stock.— A u th o r it y has been g iv e n t o increa se s t o c k t o $ 7 ,5 0 0 ,0 0 0 as r o q u ir e d .
P rof, s t o c k is t o share in d iv id o n d s _ o n sam o b asis w ith c o m m o n
GRAND RAPIDS, MICH.
a fte r la tte r has r e c e iv e d 4 % .
C O M M O N W EA LTH PO W E R , R A IL W A Y & L IG H T CO .
Gary & In teru rb an R y.— R em a in in g b o n d s m a y b o issued fo r 9 0 % o f c o s t
O R G A N I Z A T I O N .— In c o r p o r a te d in M a in o F o b . 19 1910 t o c a r r y o u t
o f ex ten sion s, Im p rov em en ts , & c ., u nd er ce rta in re strictio n s.
S u b j. t o call
at 105 an d in t. S k. fd . o f 1 % o f b o n d s o u t ea ch y e a r fro m 1915 t o 1920 an d th o plan o u tlin e d in V . 9 0 , p . 108, 4 4 7 , fo r a m a lg a m a tin g c o r ta in gas
2 % th orea ftor. V . 9 1 , p . 1385. C o n v e r tib le n o te s are se cu ro d b y d e p o s it e le ctr ic lig h t, p o w e r an d stre e t ra ilw a y enterprises in M ic h ig a n .
C o n tro ls th ro u g h s t o c k o w n ersh ip th o
o f $ 5 0 0 ,0 0 0 (en tire issuo) E a s t C h ic a g o R y . 1st M . 5s, d u o 192 8, a n d all o f
IS a g in a w -B a y C it y R a ilw a y C o .
its $ 5 0 0 ,0 0 0 s t o c k . C o n v . in to said b o n d s a t 90 an d in t. o n S o p t. 1 1915 C o n su m e rs P o w e r C o .
[C a d illa c W a te r & L ig h t C o .
u p o n 60 d a y s ’ w ritten n o tlco . T h o E . C h ic , b o n d s aro g u a r. p . & i. b y th e G ra n d R a p id s R y .
1G ra n d R a p id s H o lla n d & C h ic . R y .
G a r y & In ter. R y . T h o d eod o f tru st p r o v id e s th a t th e G a r y & In to r. R y . M ic h ig a n L ig h t C o .
S p rin g fie ld (O .) L t .. l i t . & P o w . C o .
a c q u ir e th o E . C h ic . R y . u p o n th o m a tu r ity o f th o n o te s , w h en an e qu a l M ic h ig a n R a ilw a y s C o .
I U n ion R a ilw a y . G as & E le c tr ic C o .
a m o u n t o f G a r y & In te r . R y . r o f. 5s, d u o 1930 w ill bo ro sorved fo r th o ro- Sagin a w & F lin t R y .
O n D e c. 31 1913 c o n s titu e n t c o m p a n ie s h a d o u ts ta n d in g in han ds o f
d e m p t lo n o f th o E . C h ic . R y . 1st M . 5s d u o 1928. V . 9 5 , p . 890 . N o te s
aro listed on B a ltim o re S to c k E x ch a n g o . T h o G osh on S o u th B e n d & C h i­ th e p u b lic $ 5 6 ,4 1 8 ,8 0 0 b o n d s a n d $ 1 1 ,3 9 2 ,0 0 0 p referred s t o c k .
T h o M ic h ig a n & C h ic a g o E le c t r ic R y . is c o n s tr u c tin g a lino be tw e e n
c a g o n otes are r e d . a t 102 a n d in t . on 60 d a y s ' n o t lc o . G u a r . n . & i. b y th o
G a r y & I n te ru rb a n R R . , th e V a lp a ra iso N o rth e r n R y . a n d G a r y & I n to r - G ra n d R a p id s an d K a la m a z o o in tho interests o f th o C o m m o n w e a lth P o w o r ,
R y . & L ig h t C o . an d w hon c o m p le te d w ill fo rm p a rt o f th o s y s to m . In
u rb a n R y .
V . 9 8 , p . 610 .
M a y 1913 lt w as a u th o riz e d b y th o M ic h ig a n R R . C o m m , t o Increaso its
Gary C onnecting R ys.— F irst m tg e . b o n d s aro s u b je c t t o call a t 105 a n d Int
I n t . a t L a w ron ce B a rn u m & C o . , N o w Y o r k . T h o b o n d s aro u n c o n d itio n ­ s t o c k fro m $ 3 ,0 0 0 ,0 0 0 t o $ 6 ,0 0 0 ,0 0 0 ($ 1 ,0 1 7 ,0 0 0 fo r c a s h ) , t o Issuo $ 3 ,2 6 0 ,­
0 0 0 b o n d s t o ta k e up a p r e v io u s ly a u th o riz e d issu e, an d la te r, w h on re ­
a lly gu a ra n teed b y th o G a r y & In teru rban R R .
qu ired , t o issu e $ 3 ,5 1 2 ,5 0 0 a d d itio n a l b o n d s fo r n o w c o n s t r u c tio n , & c.
E A R N I N G S .— O f G a r y & In te ru rb a n R R . fo r 5 m o s . e n d . Ju n o 30 1913J,
gross, $ 1 3 6 ,3 1 1 ; n o t, $ 3 8 ,2 4 2 .
O il ’ ivFay1 15 *1913 th o c o m p a n y a cq u ire d (th ro u g h e x ch a n g o o f n o w s t o c k
R O A D .— O perates loca l lines in G a r y a n d e xten sion t h r o u g h T c lle s t on o n basis sh o w n in V . 9 6 , p . 1296) th o o u ts ta n d in g ca p ita l s t o c k o f th o U n io n
t o H a m m o n d an d E a s t C h ic a g o (co n n e c tin g a t H a m m o n d w ith lines ru n n in g R y ., G as & E le c . C o . a n d th o S p rin g fie ld (O .) L ig h t C o . ( V . 9 0 . p . 1298)
t o cen tre o f C h ic a g o ), 22 m iles: an e xten sion .to In d ia n a H a r b o r , 13 m iles; a n d th o M ic h ig a n R a ilw a y s C o . an d fo r realizin g $ 7 ,1 2 5 ,0 0 0 cash th ro u g h
L a P o r to t o G o o d r u m , 22 m iles; G a r y t o G o o d r u m , 16 m iles; fr o m C h e ste r­ salo o f $ 7 ,5 0 0 ,0 0 0 5 -y c a r 6 % c o n v . b o n d s a t 9 5 . See p la n in d e ta il in V. 9 6 .
to n an d P o r te r , th ro u g h G o o d r u m t o V a lp a ra is o , 12 m iles; to t a l m iles o f P 1296
‘
'
Capitalization after Is su e o f A fo r e s a id Securities.
t r a c k , 8 5 . S ta n d a rd gau g e; 60 an d 8 5 -lb . T ra il.
STOCK AN D BON DS—
D a te .
I n terest. O utstanding.
M a tu r ity .
O F F I C E R S .— P r e s ., F . N . G a v it , W h it in g . 111.; V . - P . , A . O . M ille r , C h i
c a g ; S e c ., C . W . C h a s e , C h ic a g o ; T r e a s ., L . E . W o o d w a r d , V a lp a ra is o .—
C o m m o n ($100) .......................................
—
^R'RRR-RRR M a &
P re fe rre d ( 6 % cu m ) ( $ 1 0 0 )___ ______
Q -F
1 6 ,0 0 0 ,0 0 0
Soo te x t.
— V . 9 6 , p . 3 5 9 , 1422; V . 9 7 , p . 9 5 0 , 1426; V . 9 8 , p . 61 0 .
C o n v b d s , $ 1 0 .OOfLOOO ( $ 1 0 0 ,1 1 9 1 3
6 M -N
1 0 .0 0 0 .0 0 0 M a y 1 1918
$50 0 a n d $ l , 0 0 0 ) - . c * - - t f / I n t . p a y a b le in N o w Y o r k a n d P h ila d elp h ia

GENEVA, N. Y.

G E N E V A S E N E C A F A L L S & A U B U R N R A I L R O A D C O ., I N C .
O R G A N I Z A T I O N .— I n c o r p . M a y 28 1913 as su ccessor o f th o G e n e v a &
A u b u rn R y . so ld a t foreclosu re M a r c h 14 1913. P u b lic S e rv. C o m m is s io n
a u th oriz ed th o salo o f $ 52 4 ,0 0 0 b o n d s a t n o t loss th an 8 5 .
V . 9 7 , p . 298.
STOCK A N D BON DS—
D a te .
Interest. Outstanding.
M a tu rity
...............
$1 5 7 ,1 0 0 ------------------S t o c k . $ 2 0 0 ,0 0 0 .............................. ............
B o n d s , $ 5 2 4 .0 0 0 ------- ------------------- 1913
5%
4 7 5 .0 0 0 J u ly 1 1943
R O A D .— E x te n d s fr o m G e n e v a t o C a y u g a L a k e P a rk th ro u gh W a t e r lo o
a n d S en eca F a lls , 17 m iles; sid in gs, M m ile . R a ils 7 0 -lb . gird er a n d 6 0 -lb .
T ; tr a c k s ta n d a rd ga u g e .
O F F I C E R S .— P r e s ., R . R . Q u a y , P itts b u r g h , P a .; V .- P . & G e n . M g r .
W . B . A t w o o d , Sen eca F alls, N . Y . ; S e c ., L . G . H ask in s, G e n e v a , N . Y .>
T r e a s ., H . I I . H a r v e y , W ilk e s -B a rre . P a .— V . 9 6 , p . 1629; V . 9 7 , p . 298 .

GIRARD, PA.
CLEVELAND & ERIE RAILWAY CO.
O R G A N I Z A T I O N .— I n c o r p o r a te d in Ju n e 1909. Is su cce sso r t o C o n neau t & E rie T r a c t io n C o . , so ld a t fo re clo su re . O w ns all th o s t o c k an d
b o n d s a n d leases th o C o n n e a u t & E rlo T r a c t io n G i . o f O h io , w h ich ow n s
1.99 m iles o f tr a c k . F ranchises aro fo r 999 y e a rs.
S T O C K A N D B O N D S .—
D a te.
In terest. Outstanding.
M a tu rity .
S t o c k , $ 3 0 0 ,0 0 0 ........ .............. ..........................................
$30 0 ,0 0 0 ____________
F irst m t g o . $ 8 0 0 ,0 0 0 , g o ld ! 1909
5 J -J
5 0 0 ,0 0 0 J u ly 1 1929
($250 an d $ 5 0 0 )_________ c l l n t . at F id e lity T r u s t C o . , P h ila ., tru ste e .
In c o m e b o n d s $ 5 0 0 ,0 0 0 ($250\ 1909
5 J u ly
5 0 0 .0 0 0 J u ly 1 1929
a n d $ 5 0 0 ).__________________ / I n t . at F id e lity T r u s t C o . , P h ila ., tru steo.
B on d s.— R e m a in in g first m o r tg a g e b o n d s are reserved fo r e x te n sio n s,
b e tte rm e n ts , & c . T h o y aro s u b je c t t o call a t 105 an d in t. on 3 m o n th s ’
n o t ic e . I n t . o n In com o b o n d s is o n ly p a y a b le i f earn ed, a n d Is n o n -c u m .
T h e y are s u b je c t t o call a t p a r . B o n d s n a v o n o sin k in g fu n d . N o Interest
has been p a id o n in co m e s .
E A R N I N G S .— F o r 12 m o s . e n d in g Ju n e 30 1913, g r o s s , $ 1 1 8 ,6 5 6 ; n e t ,
$51 ,8 5 5 ; oth er in c o m o . $217; in t. .ta x e s a n d ro n ta ls, $38 ,6 8 1 ; s u r .. $ 1 3 ,3 9 1 .
R O A D .— O w n s 3 1 .2 9 m iles o f tr a c k . O perates b otw oen C o n n e a u t a n d
E r ie . S tan d ard ga u g e; 6 0 -lb . rail; 9 passenger an d 8 o th e r ca rs.
O F F I C E R S .— P r o s ., O . E . W illo c k , P itts b u r g h ; V . - P . , J . S . R illin g ,
E r lo , P a .; T r o a s ., J. R . M c D o n a ld , E rlo , P a .; S o c ., J . M . S m ith , G ir a r d ,
P a .; M g r ., R . VV. P a lm er, G ir a r d , P a .

GIRARDVILLE, PA.
SCHUYLKILL RAILW AY CO.

,

,

O R G A N I Z A T I O N .— In c o r p o r a te d In P e n n sy lv a n ia o n J u ly 20 1903 an d
pu rch ased th e p r o p e r ty o f th o S ch u y lk ill T r a c t io n C o . a n d th o L a k e s id e
R y . C o . V . 8 0 . p . 1729.
, ____ _
In Ja n . 1914 increased b o n d e d d e b t fr o m $ 1 ,4 5 0 ,0 0 0 t o $ 1 ,6 0 0 ,0 0 0 .
V . 9 8 . p . 238 .
STOCK AN D BON DS—
D a te .
I n terest. Outstanding.
M a tu r ity .
S t o c k , $-100,000 ($ 5 0 )...........................
................
$ 4 0 0 ,0 0 0 — ...............
F irst co n s o l m tg o , $1,450,000,1 1905
5 g A -O
6 4 0 ,0 0 0 A p ril 1 1935
g o ld ($500 an d $ l ,000)_ _ c * / I n t . a t F id o lity T r u s t C o . , P h ila ., T ru s te o .
Bon ds.— O f th o rem ain in g first c o n s o l, b o n d s , $76 0 ,0 0 0 aro reserved t o
rotire the u n d erly in g lions in sta te m e n t b e lo w an d $ 5 0 ,0 0 0 aro in troasu ry.
A r o s u b je c t t o call a t p ar a n d in terest.
E A R N I N G S .— F o r y ea r on d in g Ju n o 30 1912, g ro ss, 8 1 8 8 ,4 7 1 ; n e t , a fter
taxes, $ 7 8 ,6 2 2 ; in t ., & c .. $51 ,1 8 3 ; o th e r d o d u c ’n s, $ 1 ,9 1 7 ; s u r p ., $ 2 5 ,5 2 2 .




* U nder th o p la n , $ 2 ,5 0 0 ,0 0 0 a d d itio n a l c o m m o n s to c k is t o b e issued
M a y 1 1915 an d $ 3 ,0 0 0 ,0 0 0 M a y 1 1916*
P referred s t o c k is re d e e m a b le a t 1 0 5 a n d a c c r u e d d iv id e n d s .
Bonds.— T h e p ro ce e d s o f th o c o n v . b o n d s w o re u se d (1) t o r e t ir e 't h e
$ 2 ,0 0 0 ,0 0 0 n o te s m atu rin g Ju n o 10 1 9 1 3 : (2) fo r th e a c q u is itio n o f $ 2 ,1 0 0 ,­
000 p re f. s to c k an d a p p ro x im a te ly $ 1 ,5 0 0 ,0 0 0 n o te s o f ftlich ig a n R y s . C o .;
rem ain der w as a v a ila b le fo r c o m p a n y ’s p u rp o s e s .
B o n d s aro c o n v . (in
a m o u n ts o f $1 .0 0 0 or m u ltip les t h e r e o f) on or a fte r M a y 1 1910 Into an e qu a l
a m o u n t o f p referred s t o c k at p a r. an d u p o n c o n v e r s io n b o n d h o ld e rs w ill also
r e ce iv e c o m m o n s to c k e q u a l t o 3 0 % o f b o n d s s o c o n v e r t e d .
V . 96, p . 1296.
1556. B ankers T r u s t C o . , N e w Y o r k . Is tru ste e .
D ividends.— Q uar. d iv s . o t 1 ) 4 % o n p re f. h a v e been p a id sin ce o rgan iza­
tio n . F irst d iv . on c o m .— 1 % — p aid M a y 1 1913, A u g . 1 )1 3 , 1 % ; N o v .,
1 % . In 1914, F e b ., 1 % ; M a y , 1 % .
R E P O R T .— T h o ann ual r e p o r t fo r th e fisca l y e a r o n d in g D e c . 31 1913
w ill b o fo u n d in V . 9 8 , p . 4 5 0 .
, ,
v
**i
Condensed E a rn ings Statem ent f o r Y ears endimg D e c . 31.
[In cl. earnings fro m M a y 1 1913 o n ly on ^ stock s a cq u ire d th a t (late.)
E a rn in g s on s to c k s o w n e d In s u b . cos.. $ 2 ,0 8 3 ,0 2 0
M is c e lla n e o u s e a rn in g s_______________
3 2 0 ,6 7 0

$ 1 ,1 9 7 ,9 7 0
104,491

$ 1 ,0 7 3 ,0 9 6
6 6 ,765

G ro ss e a rn in gs________________________ $ 2 ,4 0 3 ,6 9 0
E x p en ses an d ta x e s____________________
$ 9 2 ,5 8 3
In te re st charcros
_
397*681
D iv id e n d s o n p referred s t o c k ________
* 7 6 0 ’0 0 0
D iv id e n d s o n c o m m o n s t o c k ( 4 % ) ___
5 8 5 ,0 0 0

$ 1 ,3 0 2 ,4 6 1
$ 7 8 ,o 8 7
o4*o24
3 6 0 ,0 0 0
-----------

$1,1 3 9 ,8 6 1
$57 ,4 2 9
—....
360 ,124
— ?—

T o t a l d e d u c tio n s — .................................$ 1 ,8 3 5 ,2 6 4
$49 3,41 1
$41 7,55 3
B a la n ce , s u r p lu s ______________________
$56 8 ,4 2 6
$ 8 0 J ,0 o 0
$ 7 2 2,30 8
* In clu d o s $ 4 0 0 ,0 0 0 t o c o v e r d iv id e n d req u irem en ts since M a y 1 1913 on
th e $ 1 0 ,0 0 0 ,0 0 0 o f a d d itio n a l preferred s to c k issued as o f th a t d a to .
C o m b in e d earnings fo r th o 12 m o n th s e n d . D e c . 3 1 1 9 L L gro s s t $ 1 4 ,2 4 5 ,­
230; n e t, a fte r ta x e s, $ 5 ,9 9 0 ,4 3 1 ; b o n d i n t ., & c . , $ 3 ,4 3 8 ,7 9 5 , b a l., $ 2 ,5 5 1 ,6 3 6 .
P R O P E R T Y , & c .— T h ro u g h its c o n s titu e n t c o m p a n ie s o w n s an d o p e r ­
ates e le ctric railw ays se rv in g 67 citie s a n d to w n s w ith 9 1 7 .0 8 m ilos o f single
t r a c k ; e le ctric p o w o r an d lig h t co m p a n ie s se rv in g 8 0 Cities and tow n s w ith
sales d u rin g th o y e a r e n d e d D e c . 31 1913 o f 1 9 3 ,3 4 6 ,o 7 o K. w . h .; 17 h y d r o ­
e le ctr ic p la n ts w ith an in stalled c a p a c it y o f 6 9 ,9 3 0 h . p . , 19 steam e le ctricp la n ts w ith an installed c a p a c it y o f 9 8 ,8 0 0 h . p .; h igh -te n sio n transm ission
lin es a ggre ga tin g 9 0 5 .3 6 m iles in lon gth ; ?<vs co m p a n ie s servin g 1 1 c itie s ,
w ith sales d u rin g th o y ear e n d in g D e c . 31 1913 o f 1 ,9 9 6 ,2 0 7 ,3 0 0 c u b ic fe e t.
O F F I C E R S .— P r e s ., A n to n G . H o d e n p y l; V . - P . , O . M . C lark ; V . - P . ,
G e o . E . H a rd y ; S e c. & T r e a s ., J a c o b H e k m a ; A sst . S e c . & A s s t. T r e a s .,
C . A . P earson J r.— V . 9 0 , p . 108, 4 4 7 , 6 2 6 . 9 1 6 , 976 ; V . 9 1 , p . 3 8 , 214:
V . 9 2 , p . 260 . 794: V . 9 3 . p . 1786; V . 9 4 . p . 707; V . 9 6 . p . 135, 1296, 142 2,
1556; V . 9 7 . p . 236 , 1426; V . 9 8 . P- 4 5 0 . 6 1 0 , 689 .
(1) M ic h ig a n R a ilw a y s C o .
TX .
,
.
I n c o r p . in M a in e in D e c . 1911 ( V . 9 4 , p . 6 8 ) .
U n d er p la n d a te d A p ril 26
1913 c o m . s to c k w as e xch an g ed fo r $ 2 ,0 0 0 ,0 0 0 in ce r tfs . o f th e C o m m o n ­
w ealth P o w e r , R y . & L ig h t C o . , ca llin g fo r d e liv e ry _ o f c o m . s t o c k o n M a y 1
1915.
C o m m o n w e a lth C o . also a cq u ire d $ 2 ,1 0 0 ,0 0 0 p r e f. s t o c k an d a p ­
p ro x im a te ly $ 1 ,5 0 0 ,0 0 0 n otes o f th o c o m p a n y .— V . 9 6 , p . 1 29 8, 1423.
a . M ic h ig a n U n it e d T r a c t i o n C o .
A ll th e s to c k is o w n e d b y th o M ic h . R y s . C o .
O R G A N I Z A T I O N .— I n c o r p . in D e c . 1911. S to c k $ 1 0 0 ,0 0 0 . L ea se
th o M ic h . U n ited R y s . fo r 999 y e a r s . O n M a r c h 18 1912 th o M ic h . I t y .
E n gin eerin g C o . w as in c o r p . in in te re s t o f M ic h . U n ite d T r a c . C o . t o take
ca ro o f its repair an d c o n s t r u c tio n w o r k .
V . 9 4 , p . 1317.
E A R N I N G S . — F o r y e a r e n d . N o v . 30 1913, g r o s s , $ 1 ,8 2 2 ,7 9 8 ; n e t. a fte r
axes, $ 74 2,35 6; in t ., $36 0 ,4 0 0 ; su rp lu s. $281.9563

May , 1914.]

ELECTRIC RAILWAYS

O F F I C E R S .— P r e s ., B . C . C o b b . N e w Y o r k ; V . - P s . t F ran k Sillim an J r . ’
P h lla ., a n d J oh n F . C o illn s , J a ck so n ; T r e a s ., J . W . G le n d e n in g , J a c k s o n ’
S e c ., G . B . D o b b in . J a ck s o n ; A s s t. S e c. & A s s t . T r e a s ., S. E . W o l f, N . Y "
— V . 9 4 , p . 631 . 698 . 1317.
(a) M ic h i g a n U n it e d R y s .— A th ird -ra il a n d tr o lle y s y s te m .
O R G A N I Z A T I O N .— I n c o r p o r a te d In M ic h ig a n o n M a r c h 31 1906 an d
on M a y 1 1906 t o o k o v e r th e M ic h ig a n T r a c tio n C o . , th e M ic h ig a n T r a c t io n
E x te n sio n C o . , th e Ja ck so n & B a ttle C re e k T r a c tio n C o . and th o L a n s in g &
S u b u rb a n T r a c t io n C o . T h e L a n sin g & J a ck so n R a ilw a y C o . has also been
d eed ed t o th o M ic h ig a n U n . R y s.. In O c t . 1907 th e L a n sin g S o . R y . w as
in c o rp o ra te d as a su bsid iary c o m p a n y t o b u ild t w o m iles o f e le ctr ic r a ilw a y
th rou g h M a s o n , M ic h . S to c k , $ 5 0 ,0 0 0 .
In 1908 p u rch a sed J a ck s o n C o n s o lid a te d T r a c t io n C o . Y . 8 4 , P . 1183,
an d V . 8 7 , p . 285 . L a tte r c o m p a n y 's fra nchises in Ja ck so n e xp ire in I96 0 .
T h e C i t y o f J a ck son has th e rig h t t o p u rch ase th e Ja ck so n C o n s o lid a te d
T r a c t io n a t an ap p ra ised va lu e in 1930 and e a ch 5 years th e re a fte r.
In A p r il 1911 leased fo r 5 years th e K a l. L a k e S hore & C h ic . R y ., w h ic h
op era tes a s team line b e tw e e n K a la m a z o o a n d S o u th H a v e n , a b o u t 54 m ile s,
an d (d u r in g th e su m m er o n ly ) fr o m S o u th H a v e n t o P a w P a w L a k e , 17 m .,
a n d w ill e q u ip it fo r e le ctr ic o p e r a tio n . I t is sta te d th a t r o a d w ill b e ex­
ten d ed t o B e n to n H a r b o r an d fa s t b o a t s e rv ice b etw een th a t c it y a n d C h i­
c a g o in a u g u ra ted . V . 9 2 , p . 1178.
STO CK A N D BON DS—
D a te .
In terest. O utstanding.
M a t u r it y .
C o m m o n . $ 6 ,0 0 0 ,0 0 0 ($ 1 0 0 ).............— $ 6 ,0 0 0 ,0 0 0
1 .0 0 0 ,0 0 0
See te x t
P r e f $ 1 ,0 0 0 ,0 0 0 ($100) 6 % c u
....
M -S
7 ,2...........
0 8 ,0 0 0 M a y 1 1936_
1st & r e f m tg e $ 1 2 ,5 0 0 ,0 0 0
1906
5 8 M -N
g o ld ($ 1 ,0 0 0 , $ 5 0 0 , 3 2 5 0 ,{ I n t . a t K n ic k e r b o c k e r T r . C o ., N .Y .,t r u s t e e ,
$ 10 0 a n d $ 5 0 ) ______c & r .t f
o r N a t . P r o v in c ia l B k . o f E n g ., L o n d o n .
M ic h T r a c 1st m t g o -------------- f 1901
5 g J -J
6 0 1 ,0 0 0 Jan
11921
$ 7 0 0 ,0 0 0 ($ 1 ,0 0 6 ) g c * .. n t f ( In terest a t N o w Y o r k T r u s t C o . , T r u s te e .
M ic h ig a n T r a c E x t 1st m t g e f 1903
5 g J -D
3 3 4 ,0 0 0 D e c 1 1923
$ 5 0 0 ,0 0 0 ($ 1 ,0 0 0 ) g - -..C .:t' f“ I n t. a t K n ic k e r b o c k e r T r . C o . , N . Y . , T r u s t.
Ja ck son & B a ttle C re e k first
1903
5 g J -J
1 .2 0 0 ,0 0 0 Jan 1 1 9 2 3
m o r tg a g o , $ 1 , 2 0 0 ,0 0 0 ( $ 1 .­ In te re st a t C itiz e n s ’ S a v in gs & T r u s t C o .,
0 0 0 ) g o l d ------------------ c * ..t f
C le v e ., T r u s te e , o r F irst N a t . B k ., N . Y .
J a ck son C o n s o l T r a c 1st m tg e
1904
5 g M -N
7 9 0 ,0 0 0 M a y 1 1934
$ 1 ,0 0 0 ,0 0 0 g o ld ($ 1 0 0 .3 5 0 0 In te re st a t G u a r d ia n T r u s t C o ., N o w Y o r k ,
a n d $ 1 . 0 0 0 ) __________c * t f
T ru s te e .
Bonds.— O f th e $ 1 2 ,5 0 0 ,0 0 0 1st & r e f. b o n d s , $ 3 ,1 9 0 ,0 0 0 are re s e rv e d
fo r p rio r liens, $ 2 , 1 0 2 , 0 0 0 re se rve d f o r a d d itio n s , b e tte rm e n ts a n d im ­
p r o v e m e n ts . A r e s u b je c t t o ca ll a fte r M a y 1 1916 a t 110. V . 8 2 , p .
1157. See also V . 8 7 , p . 167, 285: V . 8 8 , p . 1437. B o n d s aro lis te d In
London.
V . 9 0 , p . 914 . T h e y aro gu ar. p . & i. b y th e M ic h . R a ilw a y s
C o . a n d th e M ic h . U n . T r a c . C o . T h o J a c k s o n C o n s o l. T r a c . C o . b o n d s aro
s u b je c t t o ca ll on a n y in t. d a te a t 105. T h e y are g u a r ., p . & L , b y M ic h .
U n ite d R y s .
O n th o M ic h ig a n T r a c t io n C o . b o n d s a sin k in g fu n d o f 5 % o f g ro ss ea rn ­
ings c o m m e n ce d in 1903. t o b e u sed in b u y in g b o n d s a t n o t t o e x c e e d 1 1 0 ;
o th e r w is e t o b o in v e s te d in o th e r sta n d a rd secu rities. V . 7 2 , p . 391 ;
$ 7 7 ,0 0 0 M ic h . T r a c . 1st M . b o n d s an d $ 1 6 6 ,0 0 0 M ic h . T r a c . E x t . 1st M .
b o n d s w ore h old in sin k in g fu n d in D e c . 1913 an d are n o t in c lu d e d in th e
a m ou n ts a b o v e .
T h e J a c k s o n & B a tt le C r e e k b o n d s are s u b je c t t o ca ll in a n y a m o u n t
a fte r 10 y ea rs a t 105 an d Interest. V . 7 5 , p . 1147.
D ivid en d s.— 6 % is b e in g p a id o n preferred s t o c k .
E A R N I N G S .— In clu d in g J a ck so n C o n s o lid a te d T r a c t io n C o .:
D educt—
1912.
1911.
Y rs .en d .D e c . 3 1 . 1912.
1911.
G ross e a r n s . . $ 1 ,6 4 9 ,5 7 1 $ 1 ,5 0 0 ,5 8 0 I n t . & t a x e s . . $57 1 ,4 2 6
$ 4 4 9 ,4 4 0
O p er. expen ses
9 7 5 .5 2 8
849,361 P r e f. d iv s ____
6 0 ,0 0 0
6 0 ,0 0 0
N e t e a r n s . . $ 67 4,04 3
$65 1 ,2 1 9
S u rp lu s.........
$ 4 2 ,6 1 7
$14 1 ,7 7 9
R e v e n u e p assen gers ca rrie d in 1912, 2 1 .6 7 7 ,7 9 7 , a g st. 1 9 ,347,293 in 1911.
R O A D .— O perates all c it y lines in J a c k s o n , B a ttle C r e e k , K a la m a z o o
a n d L a n sin g a n d in teru rb an lin e s b e tw e e n J a c k s o n , B a ttle C re e k a n d K a la ­
m a z o o , a n d betw een J a c k s o n , L a n sin g an d S t. J o h n s, L a n sin g a n d O w o s s o ,
an d fro m Ja ck son t o G rass L a k e a n d W o lf L a k e; to ta l o p e r a te d , 2 5 6 m ile s .
T h ro u g h s e rv ice b etw e e n Ja ck so n an d L a n sin g b e g a n in N o v . 1909. O p ­
erates t h r o u g h s e rv ice t o D e tr o it o v e r D e tr o it U n ited R y . lines u n d e r t r a ffic
a g re e m e n t, c o n n e c tin g fr o m J a c k s o n . T h e exten sion o f th o P in o L a k o
line fr o m L a n sin g t o O w o sso (25 m ile s ), c o n s tr u c te d b y a llied interests,
w as p la ce d in o p e ra tio n In J u ly 1911. A n ew lin o is b e in g b u ilt betw e e n
G ra n d R a p id s an d K a la m a z o o , w h ic h w ill b e in o p e r a tio n , it Is s ta te d ,in
th e su m m er o f 1914. A ls o o p e ra te s th e lin o b etw een A lle g a n a n d B a tt le
C reek ; r a ilw a y , p o w e r a n d lig h t p rop erties in M a n is te e a n d w a te r p o w e rs,
d e v e lo p e d an d u n d e v e lo p e d , o n th e M a n is te e R iv e r a n d trib u ta rie s.— V . 8 8 ,
. 295 , 1437; V . 9 0 , p . 106. 914; V . 9 1 . p . 1026. 109 6, 1157; V . 9 2 , p . 1178.
$ . 9 3 . p . 1787; V . 9 4 , p . 6 8 . 207 ; V . 9 6 , p . 1423.

(2) Union Railway, Qas & Electric Co.

M e r g e r .— U n d er th e plan d a te d A p ril 26 1913, p r a c tic a lly all th o $ 5 ,2 5 0 ,­
0 0 0 p r e f. s to c k w as exch a n g e d fo r $ 5 ,2 5 0 ,0 0 0 n e w p r e f. a n d $ 5 2 5 ,0 0 0 n o w
c o m . s t o c k o f th o C o m m o n w e a lth P o w ., R y . & L t . C o . , an d th o $ 6 ,0 0 0 ,0 0 0
e o m . fo r an equ a l a m t. o f n ow c o m . or $ 1 ,5 0 0 ,0 0 0 p re f. a n d $ 4 ,5 0 0 ,0 0 0 c o m
O R G A N I Z A T I O N .— I n c o r p . in N o w Jersey Ju n o 29 1909 a n d a c
q u ired p r a c tic a lly all o f s to c k s o f S prin gfield (111.) R a ilw a y & L ig h t C o .
($ 3 ,0 0 0 ,0 0 0 s t o c k ), th o R o c k fo r d (111.) & In teru rban R a ilw a y C o . ($ 4 ,­
0 0 0 .0 0 0 s t o c k ), tho P e o ria L ig h t C o . ($ 2 ,5 0 0 ,0 0 0 c o m m o n a n d $ 1 , 0 0 0 ­
0 0 0 p re fe rr e d ), and th o E v a n sv illo L ig h t C o . ($ 1 ,5 0 0 ,0 0 0 c o m m o n and
$ 1 ,0 0 0 ,0 0 0 p r o f.), per plan in V . 8 8 , P, 1501; also all th o s t o c k a n d b o n d s o f
th o Ja n esv ille T r a c tio n C o . ($ 1 2 5 ,0 0 0 s t o c k , $ 5 0 ,0 0 0 b o n d s ), an d all th o
s to c k ($ 4 9 7 ,5 0 0 ) a n d all th o 1 s t re f. b o n d s ($ 3 8 2 ,0 0 0 ) o f th e D e K a lb -S y c a m oro & In teru rb a n T r a c . C o . T h e E v a n s v ille L ig h t C o . ow n s th o e n tire
$ 3 ,0 0 0 ,0 0 0 c o m m o n s to c k and $ 9 5 0 ,0 0 0 o f th e preferred s to c k o f th o P u b lic
U tilities C o . (in c o r p . Jun o 191 2), w h ich c o m p a n y m erged th o E v a n s v illo &
S o u th . I n d . T r a c . (see E le c . R y . S e c. o f M a y 191 2), E v a n s v ille G a s & E le c .
L t . C o . a n d E v a n s v . P u b . S e rv . C o . O n O c t . 14 1912 C ir c u it J u d g e W il­
liam B la k oy su stain ed th o dem u rrer o f th e P u b lic U tilities C o . in a su it
b r o u g h t t o d is s o lv e th o c o m p a n y , h o ld in g th a t th e co n s o lid a tio n w a s in a c ­
c o r d a n c e w ith th o sta tu te s ( V . 9 5 , p . 1 0 4 0 ), and in D e c . 1912 h o dism issed
th o s u it.
V . 9 5 , p . 1747. T h o P e o ria L ig h t C o . ow n s all th e $ 2 ,5 0 0 ,0 0 0
6 % c u m . p r o f, an d th o $ 6 ,0 0 0 ,0 0 0 c o m m o n s t o c k o f th o C e n tra l Illin ois
L ig h t C o . , w h ich w as in co rp . in A p ril 1913 an d t o o k o v e r th o p rop erties
o f th o P eoria G a s & E le c tr ic C o .. C itize n s’ G a s & E le c . C o . o f P e k in a n d
its su b s id ia r y c o m p a n y , th o P e k in L t ., H t. & P o w e r C o . , W a s h in g to n (111.)
L t . & P ow er C o . , E lm w o o d E le c . L t . C o ., F a rm in g to n L t . & P o w . C o . and
th o E le c . S ervice S y ste m . T h o U n ion I t y ., G as & E le c t r ic su b sid ia ry
c om p a n ies ow n a n d o p e ra te stre e t ra ilw a y p ro p e rtie s in S p rin gfie ld and
R o c k fo r d . 111.. E v a n s v ille , I n d ., a n d J an esv ille. W i s ., a n d in teru rb an
lines fro m R o c k fo r d t o F re e p o rt a n d B e lv id e ro , 111., th ro u gh B e lo it, W Is .,
t o J a n esv ille. W is ., fro m D o K a lb t o S y ca m o re , 111., an d fro m E v a n s v illo
t o P r in ceton an d P a to k a , I n d ., a n d also gas an d e le ctr ic p ro p e rtie s in
P e o ria . S p rin g field a n d P e k in , 111., an d E v a n s v illo , I n d ., a n d o le ctr ic plants
I n D e K a lb , S y c a m o r e , E lm w o o d , W a s h in g to n a n d o th e r sm aller pla ce s in
Illin ois.
In M a r c h 1913 issued $ 1 ,5 0 0 ,0 0 0 3 -y e a r n o te s t o p a y fo r se ve ra l sm all
a cq u is itio n s , im p rov e m e n ts , & c. V . 9 6 , p . 717 .
D a te.
In terest. O tdsiandbm .
STO CK A N D BON DS—
M a tu rity .
----------C o m m o n $ 6 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ----- --------$ 6 ,0 0 0 ,0 0 0
See te x t
P r e f $ 12.000,000cum ($100)..........
6 Q-J
6 ,2 5 0 ,0 0 0 Jan ’ 14. I K
C o lla tera l tru st m tg o , g o l d / 1909
5 J -J
4--------------.0 0 0 ,0 0 0 --------J u ly *1 1939
($500 a n d $ 1 ,0 0 0 ) . . . . c * . t f (C o m m e rcia l T r u s t C o . , P h lla ., T r u s te e .
G o ld n otes $ 4 ,0 0 0 ,0 0 0 ( $ 5 ,- f 1913
5 M -S
1 ,6 0 0 .0 0 0 M a r 1 1916
000 ) ................................c * ..t fjI n t e r e s t a t B ankers T r u s t C o . . N . Y . , T ru a ( te e , o r a t c o m p a n y ’s o ffic e .
Springfield B y. <& Light C o.—
„
S p rin gfield Ity & L t c o ll tr M / 1903
5 g J -D
3 ,0 7 5 ,0 0 0 Jun e 1 1933
$ 5 ,0 0 0 ,0 0 0 g ($ 1 ,0 0 0 ) c * .t f ( F l d e I i t y an d C o lu m b ia T r . C o . , L o u is v .,t r u s .
S prin gfield C o n R y c o n s o l / 1893
5 g J -D
$ 7 5 0 ,0 0 0 Ju n o 1 1933
m tg $ 7 5 0 ,0 0 0 g ( $ l ,000) c .t f lC o l u m b ia T r u s t C o . . L o u is v ille . T r u s te e .
Rockford & Interu rban R y. C o .—
R o c k fo r d & In te r - U rb a n - 1902
6 g A -O
1 .3 3 2 ,0 0 0 O c t
11922
m ortg a g es g o ld ($5 0 0 and In terest a t 1<irst N a t . B k ., N . Y . , o r a t C o n tin o n . & C o m . T r . & S a v . B k ., C h lc ..t r u s .
$ 1 ,0 0 0 ) $ 3 ,0 0 0 .0 0 0 ..c * ..n t f
R o c k fo r d & F re e p o rt first 1903
5 g M -N
5 92 ,000 M a y 1 1923
m tg e . $ 7 5 0 ,0 0 0 , g o ld , gu I h t. a t C o n . & C o m . T r . & S a v . B k ., C h ic a g o
T ru s te e .
p & I ($ l,0 0 0 & $ 5 0 0 )c * ..n t f
R o c k fo r d B el & Jan esville 1 s t / 1905
5 g A -O
1 .0 0 0 ,0 0 0 O c t 1 1 9 3 0
m tg o g ($ 1 ,0 0 0 ) s f _ _ c * .. t f / I n t . a t C o n t. & C o m . T r . & S a v . B k ., C h ic .,
T r u s te e , or F irst N a t . B a n k , N o w * Y o rk .




53

STO CK A N D BO N DS—
D a te.
In terest. O utstanding.
M a tu rity.
D e K alb-S ycam ore & Interu rban Trac. C o .—
D o K a lb -S y ca m o r e E le c t r ic / 1907
J -D
$10 6,00 0
1922
firs t m o r tg a g e ........ ......... n t f l i n t , a t C o n t. & C o m . T r . & S. B k ., C h ic ., T r.
Peoria Light C o.—
P e o r ia L t . C o . c o ll. tr . m t g e ./ 1906
5 J -J
2 ,5 0 0 .0 0 0 J u ly 1 1936
$ 5 ,0 0 0 ,0 0 0 g ($ 1 ,0 0 0 ) . c * . t f (B a n k e rs ’ T r u s t C o . , N e w Y o r k . T ru stee.
P e o ria G as & E le c . C o . 1st M . / 1903
5 J -J
2 ,5 0 0 ,0 0 0 Jan 1 1 9 2 3
$ 2 ,5 0 0 ,0 0 0 g ($ 1 ,0 0 0 ) . .c * t f (B a n k e rs T r u s t C o . , N e w Y o r k , T ru stee.
C itize n s G as & E le c tr ic 1st M / 1902
5 F -A 15
175 .000
1922
$ 2 0 0 ,0 0 0 -----------------------n t f ( I n t . a t M e r c h a n t s ’ L o a n & T r u s t C o ., C h ic.
Evansville Light C o .—
P u b U til C o 1st Hen & r e f M f 1912
5 J -J
2 3 ,0 0 0 J u ly 1 1942
$ 1 0 ,0 0 0 ,0 0 0 ($ 1 ,0 0 0 )-----t f l C o m m e r c ia l T r u s t C o , P h ila ., an d C h arles
_ ,
___ ____
l P . L in e a w e a v e r. T ru ste e s.
P u b U til p r e f $ 3 ,0 0 0 ,0 0 0 cu m ]
5 % J u ly 1913 t o Jan 1 9 1 5 , 1 .....................................
2 ,2 0 0 ,0 0 0 J a n ’ 1 4 .2 H %
6 % th e re a fte r......................... I
PuA V t/1i i 59 ? iiF n o t e s ®1-6 15 , - f 1913
6 g M -S
1 ,5 5 5 .0 0 0 M a r 1 1 9 1 6
0 0 0 ($ 5 ,0 0 0 ) g -----------c * . . t f j l n t . in N . Y . , P h ila . an d E v a n s v ille .
C a lla b le a t p a r & in t e r e s t .!
G u a r a n ty T r u s t C o ., N e w Y o r k , tru stee.
E v a n s v & S o I n d 1st c o n M / 1907
5 g J -J
4 1 .0 0 0 Jan 1 1937
$ 4 ,0 0 0 ,0 0 0 g ($ 1 ,0 0 0 ) . .c * t f (C o m m e r cia l T r u s t C o . . P h ila ., tru stee.
E v a n s v ille E l R y 1st m t g e / 1901
4 g M -N
1 ,2 0 0 .0 0 0 M a y 1 1921
$ 1 ,2 0 0 ,0 0 0 g ($ 1 ,0 0 0 ) . c * t f ( I n t . a t F a rm e rs’ L . & T r . C o .. N . Y . . tru stee.
E v a n s v & P rin ce 1st m t g e f 1903
5 g A -O
3 4 0 .0 0 0 A p ril 1 1923
$ 4 0 0 ,0 0 0 g o l d ( $ l,0 0 0 ) s i n k - il n t . a t C it. S a v . & T r . C o . , C le v e ., T r u s te e .
in g f u n d -------------------c & r ..t f ( o r a t F irst N a tio n a l B a n k . N e w Y o r k .
E v a n s v G as & E l L t 1st & r e f f 1902
5 J -D
1.24 0 ,0 0 0 Ju n e 1 1932
m o rtg a g o $ 1 ,2 5 0 ,0 0 0 g o l d { I n t . a t C o n t. & C o m . T r . & S a v . B k .. C h ic ..
( $ 1 . 0 0 0 ) ---------------------c * .. t f (
T r u s tc o , o r a t F irst N a t . B k ., N e w Y o r k .
Stock.— P r e f. s t o c k is s u b je c t t o call a t 105 a n d a c cru e d d iv id e n d s .
Bon ds.— T h o U n io n R y ., G a s & E le c . c o ll, tr u s t m tg e . is se cu red b y d e ­
p o s it o f p r a c tic a lly all s to ck s (c o m . & p r e f.) o f su b s id ia ry c o s . A d d itio n a l
b o n d s m a y b e issued o n ly u n d er rig id re strictio n s ( V . 8 9 , p . 2 2 6 ) . In terest
is p a y a b lo a t H o d e n p y l, H a r d y & C o .. N . Y . , a n d E . W . C la rk & C o ., P h ila .
B o n d s re d e e m a b le a t p ar & in t. o n 60 d a y s ’ n o t ic e . T h e y are c o n v e r tib le
in to p r e f. s t o c k a t p a r . Y . 8 9 , p . 226; V . 9 3 . p . 528 . T h e 3 -y e a r n otes
aro re d . as a w h o le , b u t n o t in p a r t , a t 1 0 0 a n d In t. o n a n y in t. d a te o n 30
d a y s ’ n o t ic e . A d d itio n a l n o te s m a y b o issu ed w ith c e r ta in re striction s.
See V . 96. p . 717.
S pringfield Railw ay & Light Securities.— O f th e S p rin g fie ld R a ilw a y &
L ig h t colla tera l tru st m o rtg a g o o f 1903. $ 5 0 7 ,0 0 0 are re se rve d for a d d i­
tion s a n d im p ro v e m e n ts t o c o n s titu e n t c o m p a n ie s a n d $ 7 5 0 ,0 0 0 fo r p rior
liens. T h o b o n d s are s u b je c t t o call o n 60 d a y s ’ n o tice a t 107 H an d
in t.
In terest is p a y a b le a t C o lu m b ia T r u s t C o .. L o u is v ille , an d a t H o d e n ­
p y l, H a r d y & C o . , N e w Y o r k , a n d E . W . C la rk & C o ., P h ila d e lp h ia .
In t.
o n S p rin gfield C o n . R y . b o n d s is p a y a b le a t F id e lity a n d C o lu m b ia T r u s t
c o s ., L o u is v ille , a n d a t H o d e n p y l, H a r d y & C o ., N e w Y o r k .
R ockford & Interu rban R y. Securities.— Sinking fu n d on R o c k fo r d &
In to r-U rb a n b o n d s o f 5 % o f gross receip ts c o m m e n ce d in 1908. $ 1 5 8 ,­
0 0 0 o f b o n d s in a d d ’n t o th ose r e p o rte d o u ts ta n d in g a b o v e aro h eld In th e
sin k . f d . A d d ’l b o n d s can b e issued fo r exten sion s a n d im p ro v e m e n ts at
8 5 % o f c o s t . T h e en tire issue is s u b je c t t o call a t 105 a n d Interest. T h e
R o c k fo r d & F r e e p o r t b o n d s are assu m ed, prin . & in t ., b y th e R o c k fo r d &
In te r -U r b a n R a ilw a y C o .; $ 3 3 ,0 0 0 are h e ld in s in k . fu n d . A sin k in g fu n d
equal t o 5 % o f gross earnings began in 1910. B o n d s are s u b je c t t o call
a t 105 an d in te re st. V . 7 8 , p . 1276. A sin kin g fu n d o n th e R o c k fo r d
B e lo it & J an esv ille b o n d s begins in 1915 o f 2 % o f gross earn in gs o f th a t
d iv isio n . T h e y are s u b je c t t o call a t 102H and in te re st. T h e y are guar­
a n te e d . p . & i ., b y th e R o c k fo r d & In te r-U rb a n .
Peoria Light C o. Securities.— $ 2 ,5 0 0 ,0 0 0 P e o ria L ig h t C o . b on d s are
reserved t o re tire a lik e a m o u n t o f P e o ria G as & E le c tr ic 1st m tg e . b o n d s.
T h e y are secu red b y d e p o s it o f all (e x ce p t d ir e cto r s ’ shares) th o s t o c k o f
C e n t. 111. L t . C o . B o t h P e o ria L t . C o . a n d P e o ria G a s & E le c , b on d s
aro s u b je c t t o ca ll a t 105 a n d in te re st. In te re s t on b o t h P e o ria L igh t
C o . an d P e o ria G a s & E l. C o . b o n d s is p a y a b le a t H o d e n p y l, H a r d y &
C o . , N o w Y o r k . P e o . G as & E l. b o n d s sin k, fu n d o f 5 % o f gross earnings
b e g a n J a n . 1 1910. S. f . m a y b e used b y c o m p a n y fo r ad d itio n s t o p r o p e r ty
aga in st w h ich n o b o n d s h a v e been issu ed. O f C itize n s ’ G a s & E le c tr ic
b o n d s , $ 2 5 ,0 0 0 h a v e b e e n re tire d th ro u g h sin k in g fu n d .
Evansville Light Co. Securities.— O f rem ain in g P u b lic U tilities C o . re f.
m tg e . b o n d s , $ 4 ,3 5 8 ,0 0 0 are reserved fo r p rio r liens a n d $ 4 ,7 0 0 ,0 0 0 are fo r
a d d ’ns and im p ts . $ 9 1 8 ,0 0 0 o f th e $ 9 4 2 ,0 0 0 b o n d s issued are p le d g ed t o se­
cu re P u b lic U tility n o te s . In terest a t H o d e n p y l, H a r d y & C o . , N e w Y o r k .
C a lla b le o n a n y in terest d a te a t 1 0 7 )/ a n d in terest. T h e E v a n sv ille
G as & E le c tr ic L ig h t C o . m u s t ca ll at 105 a n d in t . $ 1 0 ,0 0 0 a n n u a lly on
Ju n e 1 1913 t o 1922, in clu siv e , a n d $ 1 5 ,0 0 0 o n J u n o 1 1923 t o 1932, in clu ­
siv e . $ 1 0 ,0 0 0 h a v o been re tire d . T h e y aro s u b je c t t o ca ll a t 105 and
in terest. O f th o E v a n s v ille & Sou th ern In d ia n a fir s t c o n s o l, b o n d s, $ 1 ,­
6 0 0 ,0 0 0 aro reserved fo r p rio r lien s. T h o E v a n s v illo & P r in ceton first
5s h a v e a sin kin g fu n d o f $1 0 ,0 0 0 per an n u m , w h ic h b egan F e b . 1 1908,
said fu n d t o b e in ve ste d in th o b o n d s at 105 b e g in n in g w ith N o . 1. $1 0 ,0 0 0
h a v o be e n re d e e m e d . W h o le issue o f these b o n d s m a y b e ca lle d a t a n y tim e
a t 110 a n d in t . L . W . P r io r o f C le v e la n d is c o -tr u s te e o f th is m ortg a g e.
E v a n s v ille E le c . R y . b o n d s c a n n o t b e c a lle d . T h e E v a n s v ille P u b . S erv.
C o . has m a d e a m tg o . t o th e B a n kers T r u s t C o . , N . Y . , t o secu re an issue
o f $ 1 ,0 0 0 ,0 0 0 b o n d s . I t is s a id , h o w e v e r , th a t n o n e o f th e new b o n d s w ill
b e p la c e d o n th o m a r k e t. V . 9 6 , p . 1301.
D ivid en d s.— F irst d i v ., lJ-6 % . o n p r e f . p a id O c t . 1909 a n d sam e am ou n t
q u a r. sin ce t o a n d in clu d in g Jan . 1914. F irst d iv . o n c o m .— 1 % — paid
A p ril 1 1913; J u ly , 1 % ; O c t .. 1 % .
In 1914, J a n ., 1 % .
E A R N I N G S .— C o m b in e d earnings o f su b sld . c o s . fo r 12 m o s . ending
J u n o 30 1913: G ro ss, $ 4 ,5 4 5 ,5 7 5 ; n e r, after ta x e s, $ 1 ,9 8 1 ,6 1 1 ; in t ., & c .,
$ 1 ,1 4 0 ,9 3 2 ; p r o f, d i v ., $ 31 5,00 0; su rp lu s, $ 5 2 5 ,6 7 9 .
R O A D .— R o c k fo r d & In te r -U r b a n o p era tes 33 m iles o f t r o lle y in R o c k ­
fo r d , 13 m iles b e tw e e n R o c k fo r d a n d B elvid ero; a ls o 28 m iles o f R o c k fo r d
6 F r e e p o r t E le c tr ic R y . b etw een p o in ts n a m e d in title , an d 35 m iles b e ­
tw een R o c k fo r d , 111., a n d B e lo it an d J a n e sv ille , W is . T o t a l, 109 m iles.
S p rin gfie ld R y . & L t . C o . o p erates 4 2 .2 4 m iles in S p rin g fie ld . J a n esv illeT rac.
C o . o p erates 5 m . in Ja n esv ille, W is ., a n d D e K a lb -S y ca m o r e & In te r . T r a c .,
7 m ., c o n n e c tin g D o K a lb an d S y c a m o r e , 111. P u b lic U tilities C o . operates
a h t. 65 m . in E v a n sv ille an d b etw e e n E v a n s v ille , P r in ce to n an d P a t o k a ,In d .
O F F I C E R S .— P r e s ., A n to n G . H o d e n p y l, N e w Y o r k ; V . - P , C la ren ce
M . C la r k , P h ila .; V .- P . & S e c ., G e o . E . H a r d y , N . Y . ; T r e a s . & A s s t. S e c .,
J a c o b H e k m a , N . Y . ; A s s t. T r e a s ., C . A . P ea rson s J r .— V . 8 9 , p . 226, 780;
V . 9 2 , p . 628; V . 9 3 , p . 2 9 0 , 528: V . 9 5 , p . 1747; Y . 9 6 . p . 137, 717 , 1299.
(3) S p r i n g f ie l d (O .) L i g h t , H e a t & P o w e r C o .
O R G A N I Z A T I O N .— In c o r p o r a te d in M a in e in A u g . 1908.
STO CK A N D BON DS—
D a te .
In terest. O utstanding.
M a tu rity .
________
$1 ,0 0 0 ,0 0 0 ......................
C o m m o n s to c k ______________________
P referred s to c k ................. ........... ...........
...............
5 0 ,0 0 0 ____________
S p rin g L t , H & P gen & r e f M f 1913
5 A -O
See te x t A p ril 1 1933
$ 5 ,0 0 0 ,0 0 0 ($ 1 ,0 0 0 ). R e d ! In t . at N . Y . and L o n d o n . M ic h . T ru st C o .
a t 105 an d in te re st____ n t f I G ra n d R a p id s , a n d G e o . I le ffe r a n , T r u s t .
S p rin g L t , H t & P 1st M . . . t f 1909
5 F -A
75 0 ,0 0 0 F e b 1 1929
B onds.— S u fficie n t g e n . a n d re f. b o n d s are reserved t o re tire a t o r before
m a tu r ity th o o u tsta n d in g 1st M . b o n d s. V . 9 6 , p . 1298. A ll o w n e d b y
C o m m o n w e a lth P o w e r , R y . & L ig h t C o .
(4) G r a n d R a p id s R y .— T r o lle y .
AH th e c o m m o n s to c k is o w n e d b y C o m . P o w ., R y . ’1/ * L t / C o .
O R G A N I Z A T I O N , & C .— In c o r p . in M ic h , in A p ril 1900 as a successor
c o m p a n y t o th o C o n s o lid a te d S t. R y . O w ns all s treet ra ilw a y pro p erties o f
G ra n d R a p id s a n d v ic in it y . F ran ch ises ex p ire In 1921 a n d in 1929.
STO C K A N D B O N D S—
D a te.
In terest■ Outstanding
M a tu r ity ,
S to c k c o m $2 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ..A l l o w n e d b y C o m . P o w ., R y .
L t. C o .
Pref $ 2 ,0 0 0 ,0 0 0 cum 5 % ( $ 1 0 0 ) ____
Q -F
$ 1 ,500,000 M a y ’ 14, 1 X
G rand R a p R y C o 1st m tg e i 1900
5 g J -D
3 ,0 8 5 ,0 0 0 Jun e 1 1918
$3 ,5 0 0 ,0 0 0 g ($1 ,0 0 0 ) - c * t f ] In terest a t N ew Y o r k T ru st C o ., T ru stee.
B on ds. & c .— O f the new m o rtg a ge fo r $ 3 ,5 0 0 ,0 0 0 , $ 41 5,00 0 h ave been (r e ­
tired b y sin kin g fu n d . S in kin g fu n d b e ca m e o p e r a tiv e o n O c t. 1 1905,
p a y a b le 1 % o f b o n d s o u t u p to O c t . 1 1910, th en 2 % u p to 1915 (see
V . 7 0 , p . 1 1 4 9 ).
B o n d s c a n n o t be c a lle d . See V . 7 2 , p . 1187.
B on d s
are listed o n N ew Y o r k S to c k E x ch a n g e .
D ivid en d s.— D ivid e n d s on preferred s to ck are c u m u la tiv e and 1 H %
q u a rte rly has boon regu larly p a id u p t o a n d in clu d in g M a y , 1914.
R E P O R T .— F o r c a l. years.
Y ear—
G ross. N eti.a T t.T ax.) In teres .
'P r e f. D iv.
S u rp lus.
1 9 1 3 ......................$1 ,2 7 3 ,4 4 8
$47 6,89 7 $14 6, G43 (5 % )$ 7 5 ,0 0 0
$255,254
1912 .................... 1.233,588
5 32 ,206
174,073 ( 5 % ) 75,000
283,133

54

ELECTRIC RAILWAYS

R O A D .— O w ns anti op era te s G5.03 m ilos o f tr a c k , 13 m o t o r p a sse n g e r
cars a n d 15 trailers; 19 m iscella n eou s cars a n d 1 e le ctr ic lo c o m o t iv e .
O F F I C E R S .— 'P ros. & G o n . M g r ., B . S . H a n c h o tt, G ra n d R a p id s ; V . - P . ,
C . M . C la rk ; S e c . & A s s t. T r o a s ., L . J . D o L a m a rte r; T r o a s . & A s s t. S e c .,
G . L . E s ta b ro o k , P h ila d elp h ia . O ffic o , G ra n d R a p id s , M ic h .— V . 8 4 ,
p . 220 , 749; V . 8 5 , p . 40; V . 9 5 , p . 891 .
f* (5) S a g in a w -B a y C ity R a ilw a y C o .
[ /'E n t i r e s to c k (e x c e p t d ir e cto r s ’ sliaros) Is o w n e d b y C o m . P o w . , R y . « L t . L o
^ O R G A N I Z A T I O N . — Thl3 c o m p a n y Is a c o n s o lid a tio n o f the Saginaw
V alley T r a c tio n C o. a n d railw ay d e p t, o f th e B a y C ity T r a c tio n & E le c . C o.
Fran ch ise D efeated.— A t special fra n ch ise e le ctio n h e ld o n A u g . 20 1912,
an d again in O c t . 1912, th e p r o p o s itio n t o p e r m it th e c o m p a n y t o b u ild a
n u m b e r o f exten sion s w as d e fe a te d .
V . 95, p . 481.
STOC K A N D B O N D S—
D ate.
In terest.
O utstanding.
M a tu r ity .
S t o c k , 5 2 ,0 0 0 ,0 0 0 ....................... A ll o w n e d b y C o m m n n w . P r. R y . & L t . C o.
First an d refu n din g m ortg age) 1910
5 M -S
$ 1 ,1 5 0 ,0 0 0 M ch 1 1935
5 5 ,0 0 0 .0 0 0 (5 1 ,0 0 0 ) . _ c * t f f M ich igan T ru st C o ., G rand R a p id s . T ru stee
Sagin a w V a l.T r . 1st M, $ 8 5 0 ,-) 1899
5 g F -A
7 52 ,000 F e b 1 1 9 2 0
000 , g ($ 1,000 e a c h ) .c * n t f l I n t . a t B o s to n S a fe D e p . & T r . C o ., T rustee
B on d s.— O f the 1st & r e f. b on d s 885 0 ,0 0 0 are reserved to retire S ag. Val.
T r a c . b on d s; rem ain d er fo r 8 5 % o f c o s t o f a d d itio n s , & c. T h e y are re d . on
a n y Int. d a te a fter M a r. 1 1915 o n 80 d a y s ’ n o t ic e a t 105 and in t. I n t . at
H o d e n p y l, H a r d y & C o ., N . Y .
, _
A sin kin g fu n d o f $ 8 ,5 0 0 per a n n u m o n S a g . V a l. T r a c . b o n d s b egin s F e b .
1 1907 and runs fo r 5 y ea rs, a fte r w h ic h $ 1 7 ,0 0 0 p er ann um is p a y a b le , said
fu n d t o be in v ested In th e b o n d s a t n o t a b o v e 107 H an d in t. S in k in g fund
held on D e c . 31 1913 $87,000 o f b o n d s; $ 11 ,000 are also ow n e d b y C om ­
m on w ea lth P ow er, R y . & L ig h t.
E A R N I N G S .— F o r 12 m o n th s e n d in g D e c . 31 1913, gross, $64 2 ,6 8 0 ; n e ta fter taxes, $23 0 ,6 8 9 .
R O A D .— O perates a b o u t 63 m iles o f street ra ilw a y track in S ag in a w and
b a y C ity, ln cl. Interurban line b e tw e e n th e tw o citie s.
O F F I C E R S .— P r o s ., B . C . C o b b ; V .- P s ., H . T . W ick e s, J . E . D a v id s o n
a n d J . A . C lev ela n d ; S e c ., G . B . D o b b in ; T r e a s ., J . W . G len d en in g; A s s t.
S ec. & A s s t. T r e a s ., S. E . W o l f f . — V . 94, p . 983; V . 95, p . 298 , 481.
(6) M ic h ig a n L i g h t C o .
\11 th o co m m o n s to c k is n o w o w n e d b y C o m . P o w ., R y . & L ig h t C o .
O R G A N I Z A T I O N .— I n c o r p . in M a r c h 191 3, a n d as o f J a n . 1 1914 to o k
o v e r a n d co n s o lid a te d th e fo llo w in g c o m p a n ie s:
J a ck s on Gas C o.,
I S agin a w C ity Gas C o .,
P o n tia c L igh t C o .,
B a y C ity Gas Co.
F lint Gas C o .,
I
A t th o sam o tim o t o o k o v o r c o n tr o l o f th o K a la m a z o o G a s C o .
** S T O C K A N D B O N D S —
D ate.
Interest. O utstanding.
M a tu r ity .
C om m on $ 3 . o o o , o o o . . - ...................... ..
.................... $ 3 ,o o o ,o o o .... .....................
P referred 6 % c u m u la t iv e ____ ______
Q -J
2 ,1 4 4 ,0 0 0
S ee te x t
S ag C ity Gas 1st M , $ 1 ,0 0 0 ,-1 1901
5 g M -N
8 5 7 ,0 0 0 M a y 1 1916
000 , g ($500& $ 1 ,0 0 0 )c * » t f l i n t , a t M ich . T r . C o ., G rd . R a p ., tru stee.
B a y C ity Gas 1st M, $500,0001 1960
5 g J -D
375 ,000 Ju n e 1 1920
g ($500 & $ 1 , 0 0 0 ) ____ c * t f l In te re st at N ew Y o r k T ru s t C o ., tru ste e .
F lin t Gas Co 1st M , $ 5 0 0 ,0 0 0 / 1904
5 M -N
500 ,000 N o v
1 1924
($500 & $ 1 , 0 0 0 ) ____ c ’ n t f l l n t . at M ich . T r . C o ., G rd . R a p ., tru s te e .
5 A -O
350 ,000 A p ril 1 1937
J a c k s o n Gas Co m tg e, $ 3 5 0 ,-/ 1897
000 g old ($ 1 ,0 0 0 )
c ’ n t f ll l lt n o i s T r u s t & S a v . B a n k . C h lo ., tru ste e .
K al Gas Co 1st M , $ 4 5 0 ,0 0 0 / 1900
5 J-J
400 ,000 Jan
1 1920
($1,000) ........................ c * n t f l l n t . a t M ich . T r u s t C o ., G rd . R a p ., tru stee.
P o n tia c L igh t C o co n s o l m tg e ) 1902
5 J-J
209 ,000 J an
1 1927
[. $ 23 0,00 0, g. ($1,000) -C ’ t f l l n t . at M ich . T r u s t C o .. G rd . R a p ., trustee.
B on ds.— $ 1 2 5,00 0 b o n d s o f B a y C it y G a s 1st M . are issued in a d d itio n to
a m o u n ts sh ow n a b o v e a n d are o w n e d b y M ic h . L ig h t C o . B a y C it y an d
J a ck son b on d s are rod . a t 110 & in t. K a la m a z o o , P o n tia c , F lin t and Sag.
C it y issues are re d . a t 105 a n d in t .
I n t. o n J a c k s o n G as C o . b o n d s is
p a y a b le a t H o d e n p y l, H a r d y & C o . , N o w Y o r k .
E 4 .R N I N G S .— F o r 12 m o s . e n d . N o v . 30 191 3, g ro ss, $ 1 ,5 4 5 ,8 4 9 ; n e t,
$70 5 ,3 4 0 .
P R O P E R T Y .— C on stitu en t c o m p a n ie s o w n an d o p e ra te th e gas p ro p e r­
ties In J a c k s o n . K a la m a z o o . P o n tia c , F lin t, S a g in a w an d B a y C ity .
O F F I C E R S .— P r e s .. A n to n G . H o d e n p y l, N . Y . : V . - P . & S e c .. G eo. E .
H a r d y , N . Y . : V .- P . , C laude H a m ilto n , G rand R a p id s ; T reas. & A s s t. S e c .,
J a c o b H ek m a , N . Y .
(7) C on s u m ers ' P o w e r C o .
„
„ ^ „
A ll th e c o m . Is ow n ed b y C o m . P ., R y . & L t . C o.
O R G A N I Z A T I O N .— I n c o r p o r a te d In M aine In 1910. O wns all the com
s tock s o f C om m on w ea lth P o w e r C o ., G rand R a p ld s-M u sk e g o n P o w e r C o.
(o w n in g entire c o m . an d m a jo r ity o f p re f. o f G ra n d R a p id s E d ison C o .),
F lin t E le c . C o ., S agina w P o w . C o ., B a y C ity P o w . C o ., P o n tia c P o w . C o .,
C on su m ers P o w . C o . ( M i c h .) , E c o n o m y P o w e r C o . , A u Sable E le c . C e n t .
P o w e r C o . an d A u S a b le R iv e r p r o p e r ty an d rig h ts.
D ecision .— F or d ecision o f U . S . C ircu it C o u rt h o ld in g valid certa in p u r ­
chases b y the S ag in a w P ow er C o ., see V . 91, p . 1510. STOC K AN D B O N D S.
D a te.
Interest. Outstanding.
M a tu rity
C om m o n $ 1 0 ,0 0 9 ,0 0 0 _________ ______
___________ $ 1 0 ,0 0 0 ,0 0 0 ------------------P r e f $ 1 0 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) 6 % c u m ____
Q -J
5 ,5 0 0 ,0 0 0
S ee te x t
1st & ref M , $ 3 5 ,0 0 0 ,0 0 0 g o l d /
1911 5 J -J 1 1,782,000
Jan 1 1 9 3 6
( $ 1 , 0 0 0 ) ........................... c * t f { I n t . at H arris T r . & S a v . B k ., C h icago,
itru ste e ,
o r H arris. F o rb e s * C o ., N . Y .
C o m ’ w . P o w . 1st M , $ 4 ,0 0 0 ,- /
1904 5 J -D
1,222,000 D eo 1 1 9 2 4
000 g sink fd ($ 1 ,0 0 0 ). c * t f l l n t . at F irst T ru s t & S a v . 13k., C h ic., tru stee.
Gr R a p -M u sk P ow 1st M /
1906 5 M -S
808,000 M ch 1 1931
$ 7 ,5 0 0 ,0 0 0 g o l d _________ t f l I n t . at 1st T r .& S .B ., C h ic ., or ls t N .I 3 .,N .Y .
G ra n d R a p E d Co 1st m tg e g / 1902
5 M -N
763,000 M a y 1 1 9 1 6
■ ($1,000) sin k in g f u n d . c * t f ) I n t . at A m . T r . & S . B ., C h lo., tru stee.
Gr R p E d Co u n d e rly ’ g b o n d s . ____
___________
10,000
--------------S tock .— P ref. s to c k Is re d . o n and a fte r Ja n . 1 1920 at 105 and a c o d .d lv
B o n d s .— O f 1st & r e f. b o n d s, $ 2 ,8 1 7 ,0 0 0 are reserved to retire u n d e rly ­
in g b o n d s; rem a in d er are reserved u nd er ce rta in restrictio n s fo r exten sion s
and a d d ition s at 8 0 % o f c o s t . SubJ. t o call on J a n . 1 1916 or a n y in t. day
th erea fter at 105 and Int. S in k , fu n d o f 1 % o f b o n d s o u t (ln cl. prior liens)
a n n u a lly begins J a n . 1 1915. V . 9 2 , p . 465 , 526 , 1438.
D ividends on p ref. h a v e been p aid re gu la rly sin ce o rg a n iz a tio n .
E A R N I N G S .— F o r 12 m o s . e n d . N o v . 30 1913, g r o s s , $ 3 ,1 1 4 ,2 9 7 ; n e t,
$ 1 ,6 6 1 ,3 0 9 .
P R O P E R T Y .— C on stitu en t c o s . o w n an d o p e ra te e lectric ligh t and pow er
prop erties In G rand R a p id s , K a la m a z o o . J a c k s o n , F lin t, S ag in a w , B a y C ity,
P o n tia c . B attle C reek, M u skegon , A lb io n , O w osso and a n u m b e r o f Inter­
m ed ia te cities an d tow n s.
H y d r o -e le c tric p lan ts h a v e a b o u t 60,000 h . p
an d steam plants a b o u t 57,000 h . p . c a p a c it y . T o ta l g e n eratin g ca p a city
a b o u t 123,000 h . p .
• .
J ..O F F I C E R S .— P r e s .. W . A . F o o te . Jao k so n ; V .- P .. E . W . C lark. P h lla .;
V . - P . , G e o . E . H a r d y , N . Y . ; T r o a s . & S e e ., J a c o b H e k m a , N . Y . : A s s t.
T r e a s ., C . A . P ea rson J r ., P h lla .— 'V. 9 0 , p . 1680; V . 9 2 , p . 61, 465 , 526,
1438; V . 94, p . 354 , 1510; V . 9 5 , p . 1683; V . 9 8 , p . 304.
(8) C adillac W a te r & L ig h t C o.
C om m on w ea lth P o w e r , L igh t & R y . ow n s all th e capital s t o c k .
O R G A N I Z A T I O N .— In c o r p o r a te d In M ich igan In 1905.
r* S T O C K A N D B O N D S .
D a te.
In terest. O utstanding.
M a tu r ity .
S t o c k $ 2 0 0,00 0 ( $ 5 0 ) . ........................................................
$ 2 0 0,00 0 ......................
First m tg e. $20 0,00 0 ($500 & / 1905
5 M -S
132,000 S e p t 1 1925
$1,000) g o l d ---------------- c ’ t f l l n t . a t M loh . T r u s t C o .. G rd . R a p ., tru stee.
B o n d s .— SubJ. to call a t 102. S in k . !d . $4,000 per ann um began S e p t. 1
1906. $500 b on d s are ow n e d b y C om . P . R y . & L .. 5 18 ,000 are ow n ed
b y c o . and $ 32 ,500 h a v e been r e tire d .
’" 1 P R O P E R T Y .— O w ns e le ctric an d w ater p lan ts In C adltlao.
O F F I C E R S .— P res., B . O . C o b b , N . Y .; V . - P . , W . A . I-'ooto, J a c k s o n ;.
T rea s. & G en. M gr., G . D . W e s to v e r , C adillac; S e e ., VV. J . M c C o y , C a dlllao;
A s s t. S ee. <5e A s s t. T r e a s ., S . E . W o ld , N . Y .
(9) G r a n d R a p id s H o lla n d & C h i c a g o R y .
C o m . P o w . R y . & L t . C o . ow n s all th o p re f. an d p r a ctica lly a ll tho c o m .s t k
^ O R G A N I Z A T I O N .— In co rp o ra te d In M ichigan In J u ly 1904 an d is a r e ­
organ ization on A u g . 1 1904 o f the G rand R a p id s H ollan d & L a ke M ich igan
R a p id R y .
See V . 79, p. 627.
P ow er Is su p p lie d to c o m p a n y b y G ra n d
R a p ld s-M u sk egon P ow er C o ., b u t c o m p a n y m aintain s ow n sta tio n In readl
ness to op era te In case o f e m e rg e n cy . F ra n ch ises Jin c ity o f H o lla n d ac d
village streets ex p ire In 1928 to 1930; rem ain der o n p rlv a te .T Ig h tsJ of.w a y .[)




[Vol. XCVI1I

STOCK A N D BO N D S—
D a te.
Interest. O utstanding.
M a t u r it y .
C o m m o n . $ 5 0 0 ,0 0 0 .............................. .................................
$ 4 8 7 ,0 0 0
..........................
P r e f, $ 8 5 0 ,0 0 0 , 6 % .............. . ...............................................
8 3 6 ,8 0 0
.........................
1st m t g e , G r a n d R a p id s H o i) 1 9 0 0
5 g F -A
1 , 4 7 5 ,0 0 0
A u g 1 1920
& L a k e M ic h , $ 1 ,5 0 0 ,0 0 0 , ) l n t . a t A m e r i c a n T r . & S a v . B a n k , C h i c a g o .
g o l d ($ 5 0 0 a n d $ l , 0 0 0 ) _ n t f j
T ru s te e , o r a t G u a ra n ty T r u s t C o .. N . Y .
B on d s. — A sin kin g fund Is p r o v i d e d o f $ 5 ,0 0 0 p e r a n n u m f o r firs t 5 y e a r s ,
$ 1 0 ,0 0 0 p e r a n n u m f o r s e c o n d 5 y e a r s , $ 1 5 ,0 0 0 y e a r l y f o r t h ir d 5 y e a r s a n d
$ 2 5 ,0 ''0 p e r a n n u m f o r f o u r t h 5 y e a r s .
B o n d s a re n o t s u b j e c t t o c a l l.
R O A D — O p e r a t e s 7 7 m ile s o f t r a c k f r o m G ra n d R a p id s t h r o u g h H o ll a n d
t o M a c a t a w a a n d S a u g a t u c k . w it h s t e a m e r c o n n e c t io n a t H o lla n d f o r C h lo .
O F F I C E R S . — P r e s . & T r e a s ., B e n j. S . I l a n c h e t t , G r a n d R a p i d s ; V . - P . ,
W . I I . B e a c h , H o ll a n d ; S e c . & G e n . M g r ., C h a s . A . F l o y d , G r a n d R a p i d s ,
— V . 75, p . 1301; V . 78, p . 702 , 768; V . 79. p . 627; V . 96, p . 1422.

(1 0 ) S a g in a w & Flint R y .
P r a c t i c a ll y a ll t h e s t o c k a n d b o n d s o w n e d b y C o m m . P o w e r , R y .

& L t. C o .

O R G A N I Z A T I O N . — I n c o r p o r a t e d In M ic h , o n A u g . 2 0 1 9 0 8 . I s s u c c e s s o r
t o t h e D e t r o i t F l i n t & S a g in a w R y . , s o ld a t f o r e c l o s u r e . V . 8 7 , p . 6 7 8 ; V . 9 0 .
p . 1 6 8 . F ra n ch ises b e t w e e n S a g in a w a n d F lin t a r e p e r p e t u a l
H a s t e r m in a l
a g r e e m e n t w it h S a g in a w - B a y C i t y R y . a n d D e t r o i t U n it e d R y .
Fare D ec is io n . — I n N o v . 1 91 2 t h e G e n e s e e C i r c u i t C o u r t , in a s u it b r o u g h t
b y t ile c o m p a n y , h e ld t h a t t h o c o m p a n y m u s t p u t I n t o e f f e c t a 5 - c e n t f a r o
w it h in t h o e n t i r e c i t y lim it s a s e x t e n d e d b y t h e a n n e x a t io n o f a la r g e a m o u n t
o f t e r r it o r y .— V . 9 5 , p . 1 4 0 4 .
STOCK AN D BON DS—
D ate.
In terest.
O utstanding. M a tu r ity .
S tock ($ 1 0 0 )
$ 1 , 0 0 0 ,0 0 0
---------­
F ir s t m t g e $ 1 ,5 0 0 ,0 0 0 ($ 5 0 0 1 1 9 0 8
5 g F - A ................8 0 0 ,0 0 0 A u g . 1 193 8
a n d $ 1 ,0 0 0 ) g o l d ______ c U f / I n t . a t D e t r o i t T r u s t C o . , D e t r o i t , t r u s t e e .
B on d s. — U n is s u e d b o n d s a r e r e s e r v e d u n d e r r ig id r e s t r i c t io n s f o r e x t e n lo n s a n d Im p ro v e m e n ts .
S in k in g f u n d , b e g i n n i n g A u g . 1 1 9 1 5 , Is e s t im a t e d
to r e t ir e $ 1 ,3 0 0 ,0 0 0 b y m a t u r it y .
F u n d m a y b e in v e s te d b y p u rch a s e o f
b o n d s a t n o t e x c e e d i n g 1 0 3 a n d in t .
V . 90, p . 168.
R O A D . — O p e r a t e s 3 2 .0 3 m ile s b e t w e e n S a g in a w a n d F l i n t a n d a 5 .3 5 ­
" lie e x t e n s io n t o F r a n k e n m u t h .
T o t a l m ile a g e o w n e d , 3 7 .3 8 m il e s .— V .
9 0 . p . 168; V . 0 2 , p . 119; V . 95 , p . 140 4.

(11) A la n is t e e R a il w a y C o .
I n c o r p . i n M i c h , in M a r c h 1 9 1 3 .
S u c c e s s o r to M a n i s t e e L t . & T r a c .
C o . , sold at foreclosure in 1 9 1 2 .
G a s and electric departments were taken
over b y the Manisteo P o w . & L t . C o .
D o e s t h e s t r e e t r a i lw a y b u s in e s s in M a n i s t e o , F ilo r C i t y a n d P a r k d a l o .
Franchise 3 0 y e a r s f r o m 1 9 0 4 .
R O A D . — O p e r a t e s 7 .4 1 m ile s o f t r a c k .
G a u g e 4 f t . 8 )^ I n .
35 t o 1 0 0 l b . T a n d 8 5 - l b . g ir d e r r a ils .
28 ca r s .
O p era tes a 5 0 -a c r e p a rk o n L a k o
M ic h ig a n .— V . 8 5 , p . 864 ; V . 8 8 , p . 158.

UNITED LIGHT & RAILWAYS CO.— (See M a p , page 55.)
O R G A N I Z A T I O N . — I n c o r p o r a t e d In M a in e In J u ly 1 9 1 0 ,
V . 91
p . 96
H a s a c q u ir e d th e fo llo w in g c o m p a n ie s :

per

p la n

In

Io w a C it y L ig h t & P o w e r C o .
C adillac (M ich.) Gas L ig h t C o.
Io w a & Illin ois R y .
Cedar R a p id s (la .) Gas C o.
Cedar R a p id s & M arlon C ity R y . C o. L a P o r to (I n d .) G as & E le c . C o .
M a s o n C it y & Clear L a k o It It.
C h atta n ooga (T e n n .) Gas Co.
O ttu m w a ( la .) G as C o .
F ort D o d g e G as & E le c . C o .
G r. R a p . Gr. H a v . & M u sk. (M ich .) P e o p le 's O a s & E le c. C o . , M a s o n C 'y .
T rl-C lty R a ilw a y & L ig h t Co.
R y . Co,
T h e G rand R a p id s G rand H a ve n & M uskegon R y . w as a cq u ire d In Ja n .
1912. V . 94, p . 2 0 9 . T h e T r i-C ity R y . & L ig h t C o . w as taken o v e r In Jun e
1912; V . 9 4 , p . 769. T h o C e d a r R a p id s & M a r lo n C it y R y . C o . w as
a cqu ired in J u ly 1912.
. . „
„
In F e b . 1913 pu rch ased the P e o p le s G as & E le c tr ic C o . , th o M a s o n C it y
& C lear L a k o R R „ an d the Io w a C it y L ig h t & P o w e r C o . In 1913 also
acqu ired th o Io w a & Illin ois R y .
O P E R A T I O N S .— D o e s entire gas business in D a v e n p o r t , C e d a r R a p id s
(s u p p ly in g also S u b u rb s o f M a r io n an d K e n w o o d P a rk a n d in terv en in g
t e r r it o r y )? F t . D o d g e , Io w a C i t y ,M a s o n C it y , B e tte n d o r f, O ttu m w a and
M u s c a tin e , l a .: C a d illa c , M ic h ., L a P o r te , I n d .; R o c k Isla n d , M o lin e ,
E ast M o lin e , M ila n , S ilvis and W a te r to w n , 111.; an d C h a tta n o o g a , T e n n .;
entire e le ctr ic -lig h t an d p o w e r business in D a v e n p o r t , F t. D o d g e , Io w a
C it y , M a s o n C it y a n d M u s c a tin e . I a .; R o c k Isla n d , M o lin e an d E a st
M o lin e , 111., an d L a P o r te , I n d . H as h o t w a ter an d steam h eatin g systom
in D a v e n p o r t an d M a s o n C it y , l a . , an d L a P o r t e , I n d . O perates street
railw ays in C e d a r R a p id s , M a r io n , M a s o n C it y , M u s c a tin e an d D a v o n p o r t ,
l a ., an d R o c k Isla n d , M o lin e and E ast M o lin e , 111.; in teru rb a n railw ays
are o p e r a te d bo tw e e n C e d a r R a p id s an d M a r io n , l a .; M a s o n C it y and
C lear L a k o , l a .; D a v e n p o r t an d C lin to n , l a .; D a v e n p o r t an d M u s c a tin e ,
l a .; D a v o n p o r t, l a ., an d R o c k Isla n d , M o lln o an d Plast M o lin e , 111., G ra n d
R a p id s , G ra n d H aven an d M u s k e g o n , M ic h . M a jo r it y o f fra n ch ises
exten d to 1 9 2 9 ,1 9 3 0 o r later, an d so m e are p e rp e tu a l.
C h ild, H u lsw lt & C o . o f G rand R a p id s, w h o p ro m o te d the c o m p a n y In
A u g . 1910, offered the s to ck In b lo ck s o f 10 shares (par $100) 1st p re f. and
4 shares (par $100) c o m . fo r $ 1 ,0 0 0 . V . 91, p . 519; V . 92, p . 1110.
Tran sfer A g en cie s .— S to c k transfer agen cies aro m ain tain ed in N o w Y o r k ,
in C h ic a g o and in G ra n d R a p id s . S ee V . 9 7 . p . 1358.
Interest. O utstanding.
M a tu r ity .
STOCK AN D BO N DS—
D ate.
Q -M
$6,9 2 9 ,0 0 0
S ee to x t
C o m m o n $ 12 ,500 ,00 0 ( $ 1 0 0 ) . . ____
1st pref $ 1 2 ,500 ,00 0 ($100)1
7 ,7 0 7 ,0 0 0 A p r .’ 14, 1 H
Q -J
6 % c u m ____________________/ -------2d pref $5,0 0 0 ,0 0 0 ($100) 3 % )
Q -J
2 ,1 2 0 ,2 0 0 A p r .'1 4, X
c u______
m u la tiv ____
e . ______________
First & ref"M gold ($ 1,000___ J 1912 5g J -D
5,721,000 J u n e 1 1932
& $1,000 & m u lt .......... r ’ t f l N e w Y o rk T r u s t C o ., N . Y . .tru stee.
N o to
.......................1913
6%
220,000 Jan 1 1915
N o te
: : : : : : : : : : : : : : : : : : : 19 13
A
5 0 0 ,0 0 0 j an 1
m e
C a d G as L t C 1st M $100,0001 1905 5 F -A
100,000 F o b 1 1925
(ca ll a t 105 & i n t ) _______t f / l n t . at M ic h . T r . C o .. G ra n d R a p ., T ru s te e.
C h a tta n o o g a
Gas first m tg e f
1907
5 J-J
610 ,000 J an 1 1927
$1,5 0 0 ,0 0 0 g ($1,000) . c * t f ] In t. at C on . & C o m .T r . & S a v . B k ., C h icago,
I T ru stee, o r F irst N a t. B a n k , N ew Y o r k .
C h att Gas C o p f s to c k ($ 1 0 0 )...............
6 Q uar
500 .000 - - - - - - - - ­
Io w a C it y L ig h t & P o w e r ? 1912 5 M -S
400 ,000 Sept, 1 1932
refu n d in g m o rtg a g e $1 ,-l In terest a t C o n tin e n ta l & C o m m 1 I rust &
000 ,000 ($ 1 ,0 0 0 ).......... c * t f
S a v . B a n k , C h ic a g o , trustoo.
Iow a C it y G a s & E le c tr ic 1 st/ 1909
6 M -N
200 ,500 See te x t.
m o rtg a ge $ 4 0 0 ,0 0 0 .......... t f\ I n t . a t C h ic . T r . & S a v . B a n k , trustoo.
P eop le G as & E l 1st r e f M . . . 1 1901 5 A -O
119,000 A p ril 1 1916
$ 1 5 0 ,0 0 0 ................................t f / l n t . a t First T r . & S a y s. B k ., C h ic a g o .
P eop las G as & E l G en M t g o l 1906 6 A -O
^ 370 ,0 0 0 A p ril 1 1931
$ 5 0 0 ,0 0 0 ................................t f / l n t . a t C e n tra l T r . C o . . C h ic a g o . T r u s te e .
F o r secu rities covering railw ay properties see separate com panies below.
S tock.— 1st pref. s to c k Is re d . at 105 an d a c c r . d lv s . 2d pref. s to c k Is
c o n v . at o p tio n o f h old er Into 1st p f. o r c o m . s tk, share fo r share, (a) $835,000
O ct. 1 1913, (5) b a la n ce Jun e 15 1915. C o m . Is o n ly s t o c k w ith v o t in g
p ow er. V . 91, p . 96, 519; V . 92. p . 1110; V . 95. p. 421 .
B on d s.— I n t . on 1st & r e t. b on d s Is p a y a b le at o ffic e o f trustee o r C o n t. &
C o m m . T r . & S a v . B k ., C h ica go. A d d itio n a l b o n d s m a y b e issued fo r re­
fu n din g u n d e rlyin g b o n d s and fo r 7 5 % o f par va lu e o f p re f. s to c k o f u n d er­
lyin g co m p a n ie s redeem ed o r p u rch a se d , 7 5 % o f c o s t o f b etterm en ts,
lm p ts. & n d d ’ ns, and fo r 7 5 % o f co3t o f a d d itio n a l p r o p e r ty , u nd er certa in
restriction s. R e d . as a w hole o r In part on a n y in t. d a y a t 102 X & Int. on
60 d a y s ’ n o tice .
B on d s h ave a de p re cia tio n fund begin n in g 1917 o f 2 % on
all b o n d s o u t , b u t a p o rtio n o f tho earns, to this fu n d are now b oin g sot asid e.
See d e scrip tio n o f b o n d s in V . 95. p. 49. C h a tt. G as C o . b o n d s h a v o a
sinking fu n d o f $15,000 per an n u m fro m 1912 to 1926, ln c l., o n 1st $50 0,00 0
b o n d s and 2 % a d d itio n a l on a n y fu rth er b o n d s Issued. S u b je c t t o call a t
105 & in t. V . 84, p . 805.
O f tho Io w a C it y L t . & P . C o . b o n d s, $260,500 aro reserved t o retire
prior liens an d $334,500 fo r new c o n s tru ctio n at 8 5 % o f c o s t. T h o Io w a
C it y G as & E le c, b o n d s m aturo seria lly $4,000 to $9,000 a n n u a lly fro m M a y
1 1912 to M a y 1 1927, and $135,000 in 1928. SubJ. to call at 105 a n d in t.
on a n y in t. d a te a fte r M a y 1 1919. A d d ’ l b o n d s m a y b o issued fo r 8 0 % of
c o s t o f exts. and betterm en ts. T h e P e o . G a s & E le c. 1st re f. M . b o n d s are
retired $3,000 a n n u a lly b y sin kin g fu n d ; m a y b o ca lle d a t 105 a n d Int.
on a n y Int. d a y .
T h o tw o n otes d a te d 1913 fo r $22 0 ,0 0 0 and $ 5 0 0 ,0 0 0 aro t o b o rotired
from earnings and aro redeem able a t a n y tim e an d aro issued w ith o u t th o
d e p o sit o f collateral.
Sinking fund on C h a t t. G as b o n d s o f $ 1 5 ,0 0 0 per an n . 1912 t o 1920 on 1st
$50 0 ,0 0 0 Issued, and 2 % a dd ition al on fu rth er issue. S u b je c t t o call on
or a fte r Ja n . 1 1927 at 105 and interest.
D ividends o f \ Y i% and M % , r e s p e ctiv e ly , h ave boon p a id q u a r . on 1st
an d 2d p re f. since O ct. 1910 t o and lncl .'A p ril 1914. A s to s t o c k d iv . on
c o m m o n .[s e e V . 94. p . 1250.
Vn Initial d iv . o f 4 % on tho c o m m o n s to c k

May 1914]




ELECTRIC RAILWAYS

55

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SCALE OF MILES

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L in e s t o b e B u ilt in I9II-I9I2..______

M ay , 1914.

j

ELECTRIC RAILWAYS

w as d e cla re d p a y a b le In e qu a l q u a r. Installm ents b e g in n in g M a r c h 1913.
(S ee V . 9 6 , p . 4 8 8 ). A s t o c k d iv id e n d o f 1 % . p a y a b le In c o m m o n s t o c k , w as
p a id A p ril 1 1914 In a d d itio n t o tk o r e g u la r d iv id e n d o f 1 % p a id o n th e sam e
d a te.
V . 9 8 , p . 525 .
E A R N I N G S .— O f s u b sid ia ry c o s . fo r 12 m o s . e n d . N o v . 30 1913 (In cl.
fo r full p eriod th o P e o p le ’s G a s & E l. C o . , M a s o n C it y & C le a r L a k e U R .,
Io w a & Illin ois I ly . a n d Io w a C it y L ig h t & P o w e r C o . ) , g ro ss, $ 5 ,9 9 9 ,0 5 2 ;
n e t, a fter taxes, & c ., $ 2 ,4 2 1 ,9 4 2 ; In t., & c ., $ 1 ,2 0 5 ,6 8 5 ; n o t p r o fit , $ 1 ,2 1 6 ,2 5 7 .
E a rn in gs o f U n ited L t . & R y s . fo r y e a r e n d in g N o v . 30 1913, gross,
$ 1 ,4 4 8 ,0 1 8 ; expenses a n d i n t ., $ 4 5 8 ,7 8 5 ; n e t e arn in gs, $98 9 ,2 3 4 ; d i v . on
p re f. s t o c k , $ 5 1 0 ,6 9 8 ; su rp lu s, $ 4 7 8 ,5 3 5 .
•
O F F I C E R S .— P r e s ., F ra n k T . H u ls w it, G ra n d R a p id s ; V .- P s ., R ich a rd
S ch a d d elee, G ra n d R a p id s : J . F . P o r te r , D a v e n p o r t , l a .; S e c. & T r e a s .,
B e n j. C . R o b in s o n , G ra n d R a p id s ; A s s t . S ecs. & T r e a s ., L . I I . Ile in k o an d
C . M . I lu r d , b o t h o f G ra n d R a p id s . M a in o f fic e , C h ic a g o ; o p e ra tin g h e a d ­
q u a rters, G ra n d R a p id s . O p e ra tin g h e a d q u a rte rs fo r Io w a d is tric t, D a v e n ­
p o r t , l a . — V . 9 5 , p . 4 9 , 4 2 1 ,8 1 9 ; V . 9 6 , p . 421 , 48 8 , 5 5 5 ,1 4 9 0 ; V . 9 7 . p . 178,
3 0 0 , 1358; V . 9 8 , p . 238 , 3 8 8 , 525 .
(1) G r a n d R a p id s G r a n d H a v e n & M u s k e g o n R y .— E le c tr ic r o a d .
T h ir d -r a il s y s tem .
O R G A N I Z A T I O N .— In c o r p o r a te d in M ic h ig a n on M a r c h 6 1899. O w ns
an d op era tes an e le ctr ic ro a d o n fe n c e d rig h t o f w a y , co n n e c tin g tho three
citie s n am ed in th o t itle , a d ista n ce o f 39 m iles. F ran ch ises in all tow n s
th ro u g h w h ich it passes ex te n d t o 1929; oth erw ise p riv a to rig h t o f w a y .
STO CK A N D BON DS—
D a te.
In terest. O utstanding.
M a tu rity .
S t o c k , $ 1 ,2 0 0 ,0 0 0 ($ 1 0 0 )______
_________ _______ $ 1 ,2 0 0 ,0 0 0 .........................
1st m tg o , $ 1 ,5 0 0 ,0 0 0 ($1,000)1 1901
5 g J -J
1,5 0 0 ,0 0 0 J u ly 1 1 9 2 6
g o l d ____________________ c * t f / l n t . a t S tan d ard T r u s t C o ., N . Y . , T ru ste e .
Bonds.— T h o in terest o n o u tsta n d in g b o n d s w as gu a ra n te e d fo r 5 years
b y tho S ecu rity In v e s tm e n t C o . o f P itts b u r g h . See V . 7 6 , p . 479 .
R O A D .— E x te n d s fro m G ra n d R a p id s in a n o rth w e ste rly d ir e ctio n t o
M u s k e g o n , w ith a bran ch t o Spring L ake an d G ra n d H a v e n . C o n n e c ts a t
G ra n d H a ven w ith G o o d r ic h L in o o f stea m ers fo r C ld c a g o an d C r o s b y L ino
o f stoa m ors fo r M ilw a u k e e , w h ich are in o p e r a tio n all th o y e a r r o u n d . T o t a l
t r a c k , 4 7 .9 0 m iles; 7 0 -lb . T r a il. O p e ra te s 21 p assen ger, 12 express an d 6
w ork c a r s . A ls o d oes a fr e ig h t, m ail a n d A m e r ic a n E x p re ss bu sin ess.—
V . 9 4 . P- 207.
(2) T h e T r i -C i t y R a il w a y & L i g h t C o . — (See la p , page 5 8 ).
In J u n e 1912 c o n t r o l w a s a c q u ir e d b y th o U n ite d R y s . & L ig h t C o .
T r i -C i t y R y . & L t . c o m . s to c k h o ld e r s r e c e iv e d in exch a n g e fo r th eir shares
$31 16 2 -3 c a s h , $16 66 2 -3 U n ite d R y s . 6 % 1st p r e f. an d $12 50 2d p r o f.
3 % s t o c k . V . 9 4 , p . 768 .
O R G A N I Z A T I O N .— In c o r p o r a te d in C o n n e c tic u t M a r c h 3 1906 and
c o n tr o ls th rou g h s t o c k ow n e rsh ip th o fo llo w in g com p a n ie s:
T r b C lt y R a ilw a y C o .
|P e o p le ’s L ig h t C o .
M o lin e R o c k Isla n d & E a s t. T r . C o . D a v e n p o r t G a s & E le c t r ic C o .
M o lin e E . M o lin e & W a t o r t . R y . C o D a v e n p o r t & M u s c a tin o R y . C o .
P e o p le ’s P o w e r C o .
M u s c a tin o L ig h tin g C o .
M o lin e R o c k Isla n d M f g . C o .
C o n tr o ls all gas p la n ts , e le ctr ic -lig h tin g co m p a n ie s a n d stre e t ra ilw a y
lines in th o c itie s o f D a v e n p o r t , M u s c a tin o , B e t t e n d o r f an d R o c k in g h a m ,
l a . , a n d R o c k Is la n d , M o lin o , E a s t M o lin e a n d o th e r sm aller to w n s in
Illin o is, an d an in teru rb a n c o n n e c tin g M u s c a t in o an d D a v e n p o r t. P o p u ­
la tio n se rv e d , a p p ro x im a te ly 132 ,2 0 9 .
R a ilw a y fra n ch ises e x te n d t o 1930
an d 1935: e le ctr ic fra n ch ises t o 1935 a n d 1943 a n d gas fra n ch ises t o 1929,
1933 a n d 1943.
In A p ril 1913 lt w as r e p o r te d t h a t th o s u b s id ia r y P e o p le 's L ig h t C o . h ad
in crea sed its a u t h . ca p ita l s t o c k fr o m $ 1 ,5 0 0 ,0 0 0 t o $ 2 ,5 0 0 ,0 0 0 .
STOCK AN D BO N DS—
D a te .
In terest.
Outstanding.
M a t u r it y
C o m m o n $ 9 ,0 0 0 ,0 0 0 ($ 1 0 0 )................................ - ........... $ 9 ,0 0 0 ,0 0 0 ....................
P r e f $ 3 ,0 0 0 ,0 0 0 6 % c u m ( $ 1 0 0 ) ------6 Q -J
3 ,0 0 0 ,0 0 0 J a n .T 4 , 114
C o ll tr u s t fir s t lion m o r tg a g e ) 1906 5 g A -O
8 ,0 3 9 ,0 0 0 A p ril 1 1923
$ 9 ,0 0 0 ,0 0 0 s f ______c & r t f /I n t . a t N . Y . T r u s t C o . , N . Y . , T ru s te e .
1st & r e f m tg e $ 2 0 ,0 0 0 ,0 0 0 ) 1910
5 g J -J
4 ,7 8 7 ,0 0 0 J u ly 1 1930
g o l d ________________ c * & r * t f /I n t . a t C e n tr a l T r u s t C o . , N . Y . , T r u s te e .
T r i -C i t y R a ilw a y 1st M -------t f
1902 5 M -S
5 4 .0 0 0 S ept 1 1922
C itize n s R y & L t ($ 5 0 0 )..c * t f 1902
5 A -O
3 0 3 ,0 0 0 A p ril 1 1912
Stock.— P r e f. s t o c k Is red eem a b le a t 120 a n d a c c u m . d iv s . See V . 827
p . 1213. L isted on M o n t r e a l, T o r o n t o an d L o u is v ille S to c k E x ch an ges.
Bonds.— O f tho $ 9 ,0 0 0 ,0 0 0 c o ll, tr u s t b o n d s, $ 4 0 0 ,0 0 0 h a v o been retired
b y s in k . f d . S u b j. t o ca ll o n a n y in t. d a t e a t 105 and in t. A sink, fu n d
o f $ 5 0 ,0 0 0 per an n . fr o m J a n . 1 1908 t o 1913; $ 1 5 0 ,0 0 0 fo r su cce e d in g 5 y r s .;
th ou $ 2 5 0 ,0 0 0 per an n . t o m a t u r it y . C o u p o n b o n d s aro in d en om in ation
o f $ 1 ,0 0 0 an d registered b o n d s in $ 1 ,0 0 0 , $ 5 ,0 0 0 o r $ 1 0 ,0 0 0 and m u ltiples.
T h e y aro lis ted on N . Y . S to c k E x ch a n g e . O f th e 1st & re f. b o n d s, s u f­
fic ie n t are reserved fo r p r io r lien s, an d rem ain d er fo r 8 5 % o f c o s t o f a d ­
d itio n s an d im p ro v e m e n ts . S u b je c t t o call a t 105 an d in t . o n a n y in t. d a to .
S in k in g fu n d o f 14-5 % o f b o n d s o u t b egin s F e b . 1 1924. V . 9 3 , p . 1465.
C itiz e n s R y . & L t . C o . b o n d s s u b j. t o call on a n y in t. d a t o a t 110 and
in t.
I n t . a t C Iov o. T r u s t C o . , tru s te e , o r N a t . B k . o f C o m m ., N . Y .
D ivid en d s.— F irst d iv . o n p r e f., 1 4 5 % . p a id J u ly 1906, an d 1 45 % q u a r.
sin ce t o and in clu d in g J a n . 1914.
R O A D .— O p era tes o v e r 123 m iles o f s ta n d a rd -g a u g e t r a c k , co n n e c tin g tho
c itie s o f D a v e n p o r t , l a . , an d R o c k Isla n d , M o lin e an d E a s t M o lin o , 111.;
in clu d in g an exten sion t o M u s c a tin o p la ced in op e ra tio n in 1912. 8 0 -lb !
lrd er an d 60 t o 7 5 -lb . T ra il. A s t o o p e ra tin g c o n t r a c t w itli I o w a & Illinois
t y . , seo rem arks u n d er th a t c o m p a n y and U n ite d L ig h t & R y s . C o .
O F F I C E R S .— P r e s ., J . F . P o r t e r , D a v e n p o r t; V . - P . , R ich a rd S clia d d oleo, G ra n d R a p id s ; V . - P . , H . It. T o b e y , N . Y .; S e c ., J . E . W eek s; A sst.
S e c ., M . K . P a rk er; T r e a s ., F ra n k T . H u ls w it;1A s s t. T r e a s ., J . M . T h a y e r .
— V . 89, p . 780 , 919; V . 9 0 , p . 1041; V . 9 1 , p . 3 3 8 , 5 9 0 , 1448: V . 92, p . 8 8 2 ,
952; V . 9 3 . p . 1465; V . 9 4 , p. 28 0 , 48 8 , 768 . 1 3 8 4 , 1444; V . 9 5 . p. 818; V . 9 6 .
p . 1158.

f

(3)

C e d a r R a p id s & M a r io n C it y R y .

(4)

M a so n C it y & C le a r I.ake R a ilr o a d C o .

O R G A N I Z A T I O N .— I n c o r p . M a y 1891 in I o w a . Fran ch ise, in C e d a r
R a p id s expires 1941 and in d e te rm in a te o n in te ru rb a n .
STOCK AN D BO N DS—
D a te.
Interest.
Outstanding.
M a tu r ity .
StockSl.OOO.OOO ($ 1 0 0 )..........., ......................................
$ 6 5 0 ,0 0 0 ____________
F irst m tg o $ 2 5 0 ,0 0 0 ($ 1 ,0 0 0 ) / 1891
6 J -J
184 ,000 J u ly 1 1931
c .. n t f ( I n t . a t A m o r . T r . C o .. B o s t o n , T ru s te e .
R O A D .— O w ns roa d in o p e r a tio n , 28 .9 0 m iles in le n g th , exten d in g fro m
C e d a r R a p id s . Io w a , t o M a r io n ; secon d t r a c k , 2 .2 8 ; s id in g s , 3 .1 7 ; to ta l o f
a ll. 2 8 .9 0 m iles. R a ils, 4 5 , 60 an d 8 0 -lb . T .
In F e b . 1913 th o U nited L ig h t & R y s . C o . a c q u ir e d c o n t r o l.
O R G A N I Z A T I O N , E T C . — A tr o lle y r o a d . O p era ted sin co J u ly 1897.
O w n s rig h t o f w a y 33 fe e t w id e fro m M a so n C it y t o C lear L a k e , 9 m ile s.
L e n g th o f lin e w ith in a n d betw een th e tw o citie s, 18.6 m .
H andles all
fre ig h t c o m in g o v e r M in n . & S t. L o u is, C h ic . It. I . & P a c ., C h ic a g o & N o r t h
W e s t, a n d C h ic . G rea t W e s t, ra ilw a ys betw een M a s o n C it y an d C lea r L a k e .
Fran ch ises run u n til O c t . 31 1935.
STOCK AN D BON DS—
D a te .
Interest.
Outstanding. M a tu r ity .
S t o c k S l . 0 0 0 .0 0 0 - ...................................................... .........
$ 4 0 0 ,0 0 0 ....................
1st m ortg a g e $ 1 0 0 ,0 0 0 g o ld ! 1897
6 J -J 15
8 ,0 0 0 Ja n . 1 1917
($ 1 ,0 0 0 ) -----------------------c ..t f (I n t . a t 111. T r . & S a v . B k ., C h ic ., T r u s te o .
G en eral m ortg a g o $2,500,000 1 1912
6 g J -D
3 1 6 ,0 0 0 Ju n o 1 1932
g o ld ( $ 1 , 0 0 0 ) ---------------c * t f / I n t . a t F irst T r . & S a v . B k ., C h ic ., T ru s te o .
Bonds.— O f th o 1st m tg o . b o n d s, a sin k in g fu n d retires $ 3 ,0 0 0 y e a r ly at
103. $36 ,0 0 0 1st ref. b o n d s aro reserved t o rotiro o ld 1st M . b o n d s; re ­
m ain in g $ 2 ,1 7 0 ,0 0 0 b on d s aro fo r e x ten sion s an d b o tte rm e n ts a t 7 5 % o f
c o s t ,'p r o v id in g annual n et earn in gs aro 1 A tim es in t. ch arge (in cl. b o n d s
to bo is su e d ). R e d . a t 105 an d in t. on a n y Int. d a y . S in k in g fu n d o f 2 %
per an n u m began Ju n o 1 1913 t o p r o v id o fo r a d d itio n s a n d bo tte rm e n ts
o r for pu rch ase o f b o n d s.
V . 9 4 , p . 1764.
(5) I o w a & I ll i n o i s R y .— A tr o lle y r o a d .
In 1913 tho U n ited L ig h t & R a ilw a y s C o . a cq u ire d c o n tr o l.
O R G A N I Z A T I O N .— In c o r p o r a te d In I o w a in S eptem ber 190 1. Is an
ele ctr ic r o a d , w ith a steam ch a rte r. Franchises oxpiro in 1951.
H a v in g co m p le te d its fre igh t term inals in D a v e n p o r t , c o m p a n y in 1912
en tered in t o a fre ig h t c o n tr a c t w ith C h ic . & N o r t h W estern R y . for in ter­
ch an ge o f tr a ffic o v e r en tiro C h ic . & N o rth W estern s y s to m . V . 9 5 , p . 680.
In F o b . 1913 entered in to an agreem en t w ith th o D a v e n p o r t & M u s c a ­
tin o R y . (con trolled b y th o T r i-C it y R y . & L t . C o .) b y w h ich th o tw o c o m ­
pan ies h a v o establish ed th ro u gh s e rv ico b etw een C lin to n an d M u s ca tin o ,
via D a v e n p o r t. T r i-C it y R y . & L t . C o . furnishes p o w e r an d will install
a d d ition a l e q u ip . I t is c o n te m p la te d fu rn ish in g ele ctric-lig h t an d po w e r
alon g the rou te o f th o I o w a & Illinois R y .




57

STO CK A N D BON DS—
D a te.
In terest.
O utstanding.
M a tu r ity .
C o m m o n , $ 1 ,5 0 0 ,0 0 0 ( $ 1 0 0 )____ __________ _________$ 1 ,5 0 0 ,0 0 0 .........................
P r e f, $ 8 0 0 ,0 0 0 , 6 % cu m ($100)
..................................
5 5 4 ,2 0 0 ............. .........
1st m t g e , $ 2 ,0 0 0 ,0 0 0 , g o ld ! 1904
5 g J -J
1 ,0 6 3 ,0 0 0 J a n . 1 1 9 2 4
( $ 1 ,0 0 0 )________________ c * t f/I n t e r e s t a t G ira rd T r u s t C o ., P h ila .. T r u s te e .
Bon ds.— R e m a in in g b o n d s are reserved fo r a c q u ir in g s te a m o r o th e r rail­
w a y s an d t o p r o v id o fo r steam ra ilw a y term in a ls a n d e q u ip m e n t a t 8 0 % o f
c o s t . N o sin k in g fu n d , b u t s u b je c t t o ca ll on a n y in te re st d a te a t 105 and
in terest. Seo V . 8 2 , p . 100, 160.
R O A D .— O perates 46.91 m iles o v e r o w n e d a n d leased tr a c k s o n p r iv a te
rig h t o f w a y , c o n n e c tin g D a v e n p o r t an d C lin to n , l a .
7 0 -lb . T r a il. S ta n d ­
a rd g a u g e . H a s agreem en t w ith D a v e n p o r t & M u s c a tin e R y . fo r jo in t o p e r ­
a tio n b e tw e e n C lin to n a n d M u s c a tin e v ia D a v e n p o r t . A ls o has t r a ffic
a g re e m e n t fo r tran sferrin g passengers t o R o c k Isla n d a n d M o lin e , 111.
O F F I C E R S .— -P res., J . F . P o rte r; V .- P s ., P . P . C r a fts a n d F . W . E llis;
S e c. a n d T r e a s ., I I . E . W e e k s.— V . 8 2 , p . 100, 160; V . 9 5 , p . 6 8 0 .

GREEN B AY , WIS.
WISCONSIN SECURITIES CO.— A holding company.
O R G A N I Z A T I O N .— I n c o r p . in W isco n sin o n D e c . 12 1911 a n d is a
p u re ly fin a n cin g c o m p a n y .
( V . 9 4 , p . 632 .)
S to c k a u th . an d o u t . $ 1 ,0 0 0 ,0 0 0 . H as a cq u ire d c o n tr o l o f W isco n s in
I u b . S e rv . C o . an d ow n s $ 8 0 0 ,0 0 0 b o n d s o f th a t c o m p a n y p la c e d in e s c r o w .
O F F I C E R S .— P r e s ., C le m e n t O . S m ith ; V .- P s ., O liv e r C . F u lle r an d
W in . B ig e lo w ; S ec. an d T r e a s ., H o w a r d G re e n e .— V . 9 4 , p . 6 3 2 .
(1) W i s c o n s i n P u b l i c S e r v ic e C o .
O R G A N I Z A T I O N .— I n c o r p . in W isco n sin in J a n . 1912 as r e o r g a n iz a tio n
an d m erger o f th o G reen B a y T r a c t . C o . an d N o rth e r n H y d r o -E le c . C o .
O w ns an d op e ra te s entire c it y an d in teru rb an ra ilw a y sy s te m (e x c e p t a b o u t
1 m ile o f tra ck ) cen terin g a t G reen B a y , an d furnishes g a s, e le ctr ic lig h t an d
p o w e r t o G reen B a y an d s u b u r b s . O n Ja n . 1 1914 th e en tire p r o p e r t y o f
th o G reen B a y G a s & E le c t r ic C o . an d th e M in a h a n E le c t r ic C o . w as p u r ­
ch a s e d . T h o G reen B a y G a s & E le c t r ic C o . is o p e r a te d se p a r a te ly .
For
a rticu la rs o f th a t c o m p a n y see V . 8 2 , p . 573 , 63 1 , a n d V . 8 6 , p .1 7 2 .
treet ra ilw a y fra n ch ise is p e rp e tu a l an d e x clu siv e u n til 1918.
STOCK AN D BO N DS—
D a te .
In terest.
O utstanding. M a tu r ity .
.................... $ 1 ,0 0 0 ,0 0 0 ______________
C o m m o n , $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )...............
P r e f, $ 6 0 0 ,0 0 0 6 % cu m ( $ 1 0 0 ) ____
___________
6 0 0 ,0 0 0 N o d iv . y e t
1st m tg o . & re f. $ 1 5 ,0 0 0 ,0 0 0
1912
5 g J-J
2 ,4 3 8 ,0 0 0 J a n . 1 1 9 4 2
g o ld ( $ 1 ,0 0 0 ) ------------------ c * / I n t . a t W isco n sin T r , C o ., M ilw a u k e e , trus.
G re e n B a y G & E 1st & r e f M 1 1905
5 g M -N
4 6 8 ,0 0 0 M a y 1 1935
$ 7 5 0 ,0 0 0 , g ($ 1 ,0 0 0 )-------c * [ I n t . a t W isco n sin T r . C o ., M ilw a u k e e , tru s.
G reen B a y L ig h t & P o w f ir s t / 1899
F -A
3 4 ,0 0 0 F e b 1 1919
m o r t g a g e -----------------------------(F ir s t N a tio n a l B a n k o f M ilw a u k e e , T r u s te e .
Bonds.— W ise . P u b . S e r v . b o n d s a re s u b j. t o ca ll o n a n y in t. d a y at 105
an d in t . $ 1 ,1 0 0 ,0 0 0 b o n d s aro h eld in e scro w ( o f w h ic h $ 8 0 0 ,0 0 0 aro ow n ed
b y W ise . S cc u r . C o .) t o b e issu ed u n d e r c e r ta in r e s tric tio n s . R e m a in in g
b o n d s aro f o r a c q u is itio n a n d t o r e tir e u n d e rly in g b o n d s u n d er c e r ta in re ­
s tr ic tio n s . Seo V. 9 4 . p . 1697. T h o G re e n B a y G as & E l. b o n d s are s u b j. t o
call a t 105 u n til 1924; th e re a fte r at p a r ; $ 2 0 ,0 0 0 h a v o been p a id & ca n c e le d .
$ 3 4 ,0 0 0 G reen B a y G as & E le c tr ic b o n d s aro in h an d s o f a tru stee t o retire
th e G reen B a y L ig h t & P o w e r b o n d s.
E A R N I N G S .— O f co m b in e d p r o p e r tie s fo r y e a r e n d . Ju n o 3 0 1913:
gro ss, $45 2 ,4 1 8 ; o p e r . expenses an d ta x e s , $28 9 ,6 1 4 ; n o t , $ 1 6 2 ,8 0 4 .
R O A D , & C .— O w n s a n d op e ra te s all lines in th e c it y o f G reen B a y ; also
a lino fr o m G reen B a y t o D o P ere C it y , a n d b ra n ch t o D u c k C re e k a n d a
lino fr o m G reen B a y t o W e s t D e P e re , L ittle R a p id s , W r ig h ts to w n an d
K a u k a u n a ; t o ta l, 4 2 .5 m iles o f tr a c k . 70 and 8 5 -lb . “ T ” a n d gird er rail;
26 m o t o r cars; 4 trailers. G a s m eters, 3 ,3 0 0 ; e le ctric m e te rs, 2 ,5 0 0 .
O F F I C E R S .— P r e s ., C le m e n t C . S m ith ; V . - P . , L . P a tt o n ; S e c . an d
T r e a s ., H o w a r d G reen e; A s s t. S ec. a n d A s s t. T r e a s ., G e o rg e A llis o n , all
o f M ilw a u k e e .— V . 9 4 , p . 632 . 1697.

P

GREENFIELD, MASS.
MASSACHUSETTS CONSOLIDATED RAILW AYS.
O R G A N I Z A T I O N .— O rga n ized in B o s to n on N o v . 16 1911 as the M a s s a ­
ch u s e tts N o rth e r n R y s . In M a y 1913 n am e w as c h a n g e d t o th e M a s s a ­
c h u s e tts C o n s o lid a te d R a ilw a y s . Is a v o lu n t a r y a sso cia tio n m a n a g e d b y
a b o a r d o f seven tru ste e s. V . 9 3 , p . 1462, 1599, 1787. C o n tr o ls th ro u g h
s t o c k o w n ersh ip th o fo llo w in g c o m p a n ie s:
C o n c o r d M a y n a r d & H u d so n S t. R y . IM ille rs R iv e r S tre e t R y . (p r o p o s e d ).
C o n n e c tic u t V a lloy S tre e t R y .
/N o r th e r n M a s s a ch u s e tts S tre e t R y .
T h o sy sto m com p rises 114 m iles o f r o a d , se rv in g 20 c itie s a n d to w n s in
C en tral an d N o rth e r n M a s s a c h u s e tts . B o t h passenger an d express serv ice
aro p r o v id e d . R ig h ts o f w a y are b e in g secu red o n th e p r o p o s e d lin e fr o m
O range t o M illers F alls.
Shares—
O utstanding.
Last D iv .
C o m m o n $ 1 ,6 4 0 ,3 0 0 ($ 1 0 0 )............................................. $ 1 ,6 1 9 ,9 0 0 O c t . ’ 13, 45
P r e f $ 1 ,1 0 0 ,0 0 0 ($100) c u m (seo te x t) Q -F ............... ..
7 0 4 ,6 0 0 M a y ’ 14. I M
S T O C K .— A d d itio n a l p re f. shares o n ly t o be issu ed w hen n e t e a rn in gs fo r
12 m o s . e n d in g n o t m o re than 180 d a y s p rio r to d a t o o f issue shall h a ve been
1 45 tim es a m o u n t necessary t o p a y d iv . o n shares o u t an d ap p lie d fo r.
D iv s . o n p re f. aro 5 % t o N o v . 1 1914, in c l.; 5 4 3 % t o N o v . 1 191 7 ., I n c l.,
a n d 6 % th e re a fte r.
In case o f liq u id a tio n p re f. is en title d t o $11 0 p e r share
u p t o N o v . 1 1914, $115 t o N o v . 1 1917 and $120 t h e r e a fte r . V . 9 3 , p . 1599.
D ividends.— O n p r e f., 145 % q u a r. fr o m F e b . 1912 t o an d in c . M a y 1914.
O n c o m m o n , initial d iv id e n d o f A % w a s p a id O c t . 15 1913.
E A R N I N G S .— O f 5 s u b . c o s . fo r y e a r e n d in g Ju n o 3 0 1913, g r o s s ,
$53 1,63 9; n o t, $16 8,34 6; in t . & taxes, $ 10 3,77 0; p r e f. d iv s ., $ 9 ,4 5 0 ; c o m .
d iv s ., $23 ,468 ; ba la n ce , $31 ,6 5 9 .
O F F I C E R S .— S ec. & T r e a s ., D . P . A b e rc r o m b ie J r .; G re e n fie ld . M a s s .—
V . 9 3 , p . 1 4 6 2 , 1599, 1787; V . 9 4 .P .3 5 1 ; V . 9 6 , p . 1489; V . 9 7 , p . 3 6 5 , 9 5 1 .
(1) C o n n e c t i c u t V a lle y S t r e e t R y .— T r o lle y . T h o M a s s . C o n s o l.
R y s . ow n s 4,891 shares o f th o s t o c k .
O R G A N I Z A T I O N .— In c o r p o r a te d in 1899. C o m m e n c e d Ja n . 22 1900.
Is a co n s o lid a tio n on A p ril 1 1905 o f th e N o r th a m p to n & A m h e r s t S treet
R y ., th o G reen field & T u rn e r ’s Falls S tr e e t R y . an d th o G re o n fic ld D e e rfield
& N o rth a m p to n S tre e t R y ., as p e r plan in V . 8 0 , p . 1111.
STOCK AN D BON DS—
D a te.
Interest.
Outstanding.
M a tu r ity S to c k , c o m , $ 5 0 0 ,0 0 0 ($ 1 0 0 )........ ...................................
$ 5 0 0 ,0 0 0 F e b .’ 1 4 , % %
P re f,$ 1 2 0 ,0 0 0 (6 % cu m ) ( $ 1 0 0 ) ____
M -S
120 ,000 M a r '1 4 ,3 %
C o n n e c tic u t V alloy S t R y 1st f 1900
5 g M -S
120 ,000 S e p t. 1 1920
m o r t g o ld ($ 1 ,0 0 0 )..c * ..n t f l i n t , a t O ld C o lo n y T r u s t C o ., B o s t o n , T r u s t .
N o rth a m & A m h 1st m t g o .f 1900
5 g M -S
180 ,000 S e p t. 1 1920
$1 8 0 ,0 0 0 g ( $ l,0 0 0 )..c ..n t f In t. a t O ld C o lo n y T r u s t C o . , B o s t o n , T r u s t.
G reen field D e e rfie ld & N o rth
1903
5 g J -J
150 ,000 J u ly 1 1 9 2 3
firs t m o r t, $ 1 5 0 ,0 0 0 , g o l d - In t. a t M e rca n tile T r u s t C o ., B o s t o n , T r u s t.
($ 1 ,0 0 0 an d $ 5 0 0 )- . c * . . n t f ( N o sin k in g fu n d a n d b o n d s ca n n o t b e called
G reen field & T u rn e r ’s F a lls / 1896
5 g J -D
6 4 ,0 0 0 Ju n o 1 1916
firs t m tg e , g , s f.------------n t f (In te re s t a t B e a co n T r u s t C o . , B o s t o n .
G r e e n & T u r n F a lls co n s m $ 1 3 0 ,-/1 9 0 3
5 g J -D
6 4 ,0 0 0 Ju n o 1 1923
0 0 0 g ($ 5 0 0 , $ 1 ,000) c * . n t f (In te re st at B e a co n T r u s t C o . , B o s t o n , T r u s .
L o a n s p a y a b lo Jun o 30 1 9 1 3 .. ____
___________
125,000 ____________
Bonds.— G reen field & T u rn e r ’s F alls fir s t m tg e . (o rig in a lly $ 1 0 0 ,0 0 0 ) p r o ­
vid es fo r tho p a y m e n t o f S 2.000 an n u ally f ro m 1897 t o 1915, in c l., a t a p r e m ­
iu m . S u fficie n t o f th e c o n so ls is reserved t o retire th o 1st m tg e . b o n d s at
m a tu r ity . T h o N o rth a m p to n & A m h e rst b o n d s aro s u b je c t t o call a t 105
on 4 w eek s’ n o tice , as are th e b o n d s o f th e C o n n e c tic u t V a lley S tre e t R y .
T h o $ 1 2 0 ,0 0 0 C o n n e c tic u t V a lle y b o n d s w ere issued u n d er th o fir s t m tg e . o f
th e N o rth a m p . & A m h . S t . R y ., w h ich w as o r ig in a lly draw n fo r $ 3 0 0 ,0 0 0 .
D ividends.— O n p r e f., 3 % se m i-a n n . sin ce S ep t. 1910 t o an d in c l. M a r .,
1914. O n c o in ., in 1912, F e b ., 1 % : A u g ., 4 5 % . l u 1913, F e b ., 4 5 % ;
M a y , 1 % ; A u g ., H % ; N o v ., 4 5 % . In 1914, F e b ., % % .
E A R N I N G S .— F o r y e a r e n d . J un e 3 0 1913, gro ss, $23 7 ,0 5 1 ; n e t , $ 8 0 ,7 5 2 ;
in t. & taxes, $ 46 ,269 : p ro f, d iv s ., $ 7 ,2 0 0 ; c o m . d iv s ., $ 12 ,482 ; b a l., $ 1 4 ,8 0 1 .
R O A D .— O w n s a n d op e ra te s 47.0 5 4 m iles o f tra ck b etw een M ille r ’sF a lls ,
T u rm e r ’s F a lls, G re e n fie ld , N o r th a m p to n and A m h e r s t. 41 passenger
ca rs , 2 s n o w -p lo w s , 5 o th e r cars an d 134 e le ctric m o to rs .
O F F I C E R S .— P r o s ., F . E . P ie rce ; S e c. & T r e a s ., D . P . A b e rc r o m b ie J r .:
S u p t., J . A . T a g g a r t .— V . 9 5 , p . 297; V . 9 6 . p . 1290; V . 9 7 , p . 298; V . 98.
p . 1392.
(2) N o r t h e r n A la s s a c h u s e t t s S t r e e t R y . T h e M a ss a ch u s e tts C o n s o l.
R y s . o w n s all th o c o m m o n s to c k ($3 5 0 ,0 0 0 ) an d $50 ,000 o f th e p r e f. s t o c k .
O R G A N I Z A T I O N .— I n c o r p . In M a s s , o n J u ly 1 1894 as th e A th o l &
O range Street R y . N a m e ch a n g e d t o a b o v e on M a y 1 1913. In Jan . 1913

[Vol.

ELECTRIC RAILWAYS

6 8

th e p r o p e r ty a n d fra n ch ises o f th e T e m p le to n S treet R y . an d on
SAurchased
la r . 1 1913 a b s o r b e d th e G a rd n e r W e stm in ste r & F itc h b u r g Street R y
s a result o f these a cq u is itio n s , s to c k w as increased fro m $ 7 4 ,5 0 0 , all o f
on e cla ss, t o $ 5 0 0 ,0 0 0 , o f w hich $15 0,00 0 is 6 % c u m . p r e f. s t o c k .
S T O C K S A N D B O N D S — D a te.
In terest. O utstanding.
datu rity.
C o m m o n $ 3 5 0 ,0 0 0 ______________
$35 0,00 0 ____________
P re f 6 % c u m $ 1 5 0 . 0 0 0 . . . ...................................
150,000 .......................
ls t& r e fM $ 5 ,0 0 0 ,0 0 0 ($1 ,0 0 0 ) / 1913
5 g M -N
2 55 ,000 M a y 1 1043
r e d ’l o n 4 4 3 % in t b a s c * n t f l i n t , at A m e rica n T r u s t C o ., B o s t o n , T ru s te e .
A th o l & O ra nge first m t g e .n t f 1905
5 J-J
60,000 Jan 1 1915
G ard W estm & F itch b u rg lst\ 1900
5 F -A
185 ,000
F e b . 1 1920
m tg e ($ 1 ,0 0 0 ) g o ld . c * . n t f j l n t . a t O ld C o lo n y T r . C o . , B o s t o n , T r u s te e .
L o a n s p a y a b le Ju n e 30 1 9 1 3 . . ____
34 0 ,0 0 0 ____________
B on d s.— O f th e $ 5 ,0 0 0 ,0 0 0 1st & re f. b o n d s . $ 2 4 5 ,0 0 0 are rese rv e d t o
retire an e q u iv a le n t a m o u n t o f u n d e rlyin g b o n d s . N o sin k in g fu n d .
E A R N I N G S .— O f c o m b in e d co m p a n ie s fo r y e a r e n d in g J u n e 30 1913,
g r o s s , $ 2 2 1 ,0 3 7 ; n e t , $63 ,9 8 9 ; in t. ch a rg e s, $ 4 1 ,4 8 1 ; p r e f. d i v ., $2,250;
c o m . d i v ., $ 1 0 ,9 8 5 ; b a la n ce , su rp lu s, $ 9 ,2 7 3 .
R O A D .— 4 7 .7 m iles o f t r a c k .— V . 9 7 , p . 365 , 135 7.
(3) C o n c o r d M a y n a r d & H u d s o n S t r e e t R y . — A tr o lle y r o a d . T h e
M a s s . C o n s o l. R y s . ow n s 2,2 7 6 shares o f th e s t o c k .
O R G A N I Z A T I O N .— O rga nized In M assachusetts M arch 27 1901. A c ­
q u ired C o n co rd & C linton S t. R y . F e b . 1 1902. O n A u g . 25 1911 acqu ired
L ow ell A c t o n & M a yn a rd S t. R y . V . 9 3 , p . 1786. F ran ch ises p e rp e tu a l.
STOCK A N D BON DS—
D a te.
In terest. O utstanding.
M a tu rity.
S to c k , $ 23 5,00 0 ( $ 1 0 0 ) ................................................... $23 5,00 0 See earnings
1st m o r tg a g e , $ 25 0,00 0, g o ld ) 1902
5 g J -J
230,000 J u ly
1922
($1,000) _________ c & r . n t f J In terest a t A m e rica n T ru st C o ., B o s ., T ru s .
L o a n s p a y a b le Ju n e 30 1 9 1 3 . . ------------------4 0 ,0 0 0 ------------------R O A D .— O w ns 19 m iles o f tra ck betw e e n C o n c o r d , M a y n a rd , A c t o n ,
S to w a n d H u d s o n . A t C o n co rd c o n n e c ts w ith L e s . & B o s . an d a t H u dson
w ith W o r c e s te r C o n s o l, an d B o s . & W o r c e ste r .
E A R N I N G S .— F o r y e a r e n d in g Ju n e 30 1913, g ro ss, $ 7 3 ,5 5 1 ; n e t, $ 2 3 .­
604; in terest ch a r g e s , $16 ,0 1 9 ; b a la n c e , $ 7 ,5 8 4 .

(4) Millers River Street Ry.
R ig h ts o f w a y are bein g secu red on this c o m p a n y ’ s p ro p o s e d line betw een
M illers F a lls an d O r a n g e . ________________

GREENSBORO, N. 0.
NORTH CAROLINA PUBLIC SERVICE CO.
O R G A N I Z A T I O N .— Chartered In N orth C arolina In 1909. P u rchased
th e G reen sb oro E le c . C o ., G reen sb oro Gas C o . an d H igh P o in t E le c . P o w .C o .
In 1911 a c q u ir e d m a jo rity o f the s to ck o f S alisb u ry & S p e n ce r R y . C o .,
w hich c o m p a n y it also leases fo r 50 y e a rs. V . 9 3 , p . 1324. D o e s e n tire gas,
e lcc tr lc-llg h t an d p ow er and street ra ilw a y business o f G reen sb oro (and Its
su b u rb s o f P r o x im it y , R e v o lu t io n , W h ite O ak and P o m o n a ), S a lisb u ry,
S pen cer an d E a st S p en cer, en tire street railw ay and e le ctric business o f H igh
P o in t a n d m u n icip a l s treet ligh tin g and s treet railw ay business o f C o n co rd .
P o w e r Is p u rch ased from S ou thern P o w e r C o . In 1910 franchises h ad the
fo llo w in g n u m b er o f years t o ru n : G reen sb oro, 28 y r s ., H igh P o in t , 59 y r s .,
S alisbu ry an d S p en cer. 51 y rs, W in sto n -S a le m , 58 years; also has a 30-year
fra n ch ise In G u ilfo rd C o u n t y a n d to w n sh ip
Tn 1913 o b ta in e d a 60-year
fra n ch ise f o r a s treet r a ilw a y in L e x in g to n a n d T h o m a sv ille .
STOCK AN D BON DS—
Date.
Interest. Outstanding.
M atu rity.
$ 3 ,3 2 2 ,9 0 0 ..................
S to ck $ 3 ,5 0 0 ,0 0 0 i$ 1 0 0 ).................................................
First & re f. m tge. $ 3 ,5 0 0 ,0 0 0 ) 1909
5 A -O
1 ,8 29,600
A p r 1 1034
($100, $500 a n d l$ l,0 0 0 ) t f c / I n t . a t E q u it a b le T ru st C o .. N . Y . . trustee.
G reen sb E l C o g old m tges (21
Issues) ($500 & $ l , 0 0 0 ) c t f i ____
5%
203 ,500 ........................
Sallsb & S p en R y 1st M g f 1905
5 g M -N
516 ,000 M ay 1 1945
$ 1 ,0 0 0 ,0 0 0 ($1,000) __c* t f ( I n t . a t M ich . T r u s t C o .,’ G rand R a p id s,
l trustee, o r W . N . C oler & C o ., N . Y .
B o n d s .— O f th e 1st & r e f. m tg e ., $203,500 are reserved t o retire lik e
a m o u n t o f m ortg a ge b on d s o f G reen sb oro E le c . C o ., $6 4 ,4 0 0 are held in
treasu ry an d $1 ,4 0 2 ,5 0 0 are reserved fo r fu tu re Im p ro ve m e n ts an d ac­
q u isition s und er p rop er lim ita tio n s . V . 88, p . 1128; V . 94, p . 699
S u b je c t t o call o n a n y Interest d a te at 105 and Interest. S in kin g fund
o f 1 % per an n u m o f gross In com e J u ly 1915 t o 1920; 1 43 % J u ly 1920-1925
a n d 2 % 1925 t o m a tu r ity . O f rem ain in g S allsb. & S p e n . R y . b o n d s $29,000
are in treas. an d $ 45 5,00 0 are reserved fo r fu tu re exte n sio n s a n d Im prove­
m en ts. R e d e e m a b le a t 105 an d Interest.
E A R N I N G S .— F o r y e a r e n d . D e c . 31 191 3, g ro ss, $45 6,51 1; n e t, a ft e r
ta x es, $ 1 6 6 ,8 7 0 ; in teres t, $ 8 7 ,3 1 6 ; su rp lu s, $ 7 9 ,5 5 4 .
In 1 91 2, gross, $40 0,"
225; n o t, a fte r ta x e s , $ 1 3 6 ,8 6 3 ; in te re s t, $ 75 ,696 ; su rp lu s, $ 6 1 ,1 6 7 .
R O A D .— O w n s 2 7 .6 m iles o f tr a c k . 60 an d 7 0 -lb . T an d 9 0 -lb . girder
rails. S ta n d a rd g a u g e. 35 ca rs . C o n n e c tin g extensions b etw een th e
v a rio u s c itie s are p r o p o s e d . O w ns L in d le y P a rk a t G re e n sb o ro . E le c tr ic
plan ts c a p a c it y 2,8 0 0 h . p .
175 m iles transm ission lin es. G a s plan ts
c a p a c it y 3 6 2 0 ,0 0 0 c u . f t . , 68 m iles o f m ain s.
O F F I C E R S .— P re s ., B . S . C oler; V .- P ., & G en. M g r., J . p . C larke; V .- P .,
Z . V . T a y lo r ; S e c . & T r e a s .. L . I I . H o le J r .; A s s t. S e c ., E . B . C o le r; A sstT r e a s ., C . B . H o l e . — V . 9 4 . p . 699; V . 9 5 , p . 3 6 1 ; V . 9 6 , p . 790; V . 9 7 ,p ,5 0 .
■w e^^n
■■—

GREENVILLE, S. 0.
GREENVILLE'TRACTION C O — A trolley road.
I n S e p t. 1910 S ou th ern P o w e r C o . pu rch a sed c o n t r o l.
O R G A N I Z A T I O N — I n c o r p o r a te d In S o u th C a rolin a on S e p t. 7 1899.
P o w e r Is su p p lied to this c o m p a n y b y the G reen vllle-C arollna P o w e r C o .
fo r pa rticu la rs o f w h ich see V . 8 5 , p . 224 . O perates 15 m iles o f tra ck .
STOCK AN D BO N DS—
Date.
Interest. Outstanding.
M atu rity.
...............
$306,000 ......................
S to c k . $500,000 ($ 1 0 0 )...................... ..
First m tg e $ 25 0,00 0 c u r r e n c y ! 1901
5 F -A
250,000 F e b 1 1931
($ 1 ,0 0 0 an d $ 5 0 0 )_______ c * /I n t e r e s t at G irard T ru st C o ., P h lla ., Trustee
O F F I C E R S .— P r e s ., Z . V . T a y lo r : V .- P ., W . S . L e e ; S e c ., N . A . C ocke!
T r e a s ., E . T h o m a s o n .— V . 9 1 , p . 1511.

GREENVILLE SPARTANBURO & ANDERSON R Y. — A ft r o lle y road
Is co n tr o lle d b y S ou th ern P o w e r C o . in terests. It Is p r o p o s e d u p o n corn.!
p letlon o f th is c o m p a n y ’s line an d th e line o f th e P ie d m o n t (N . C.) T r a c . Co
t o m erge th e tw o com p a n ies Into o n e c o m p a n y t o b e k n o w n as th e P led!
m o n t & N o rth e r n R y . C o .
(See P ie d m o n t T r a c t io n C o . u n d e r C h a r lo tte .
O R G A N I Z A T I O N .— I n c o r p . In S ou th C a rolin a .a n d a cq u ire d th e A n d e r .
son T r a c tio n C o . , sold a t r e c e iv e r ’s sale O c t . 12 1909. A u th . s to c k is r e ­
p orted t o h a v e been Increased b y $2,50 0 ,0 0 0 t o $ 6 ,5 0 0 ,0 0 0 o r $ 7 ,5 0 0 ,0 0 0 in
1913.
• R O A D .— Is co n s tr u c tin g a line betw e e n G re e n w o o d an d S p a rta n b u rg ,
tou c h in g B e lto n , P elzer a n d G re e n v ille . H as In o p e ra tio n 61 m iles b etw een
G reen ville and G reen w ood an d a 10-m lle exten sion b e tw e e n B e lto n and A n ­
d erson .
A ls o operates 8 m iles o f tra ck in an d a rou n d A n d e rs o n . L ine
fro m G reen v ille a n d S p a rta n b u rg, 32 m iles, w as e x p e cte d to b e co m p le te d in
su m m er o f 191 3, b u t w ork d e la y e d b y litig a tio n in stitu ted b y a p r o p e r ty ow n er.
O F F I C E R S .— P r e s ., J . B . D u k e , N . Y .; V .- P ., W . S . L e e , C h arlotte.
N . C .; T r e a s ., E . T h o m a so n , C h arlotte, N . C .— V . 89, p . 1346;
V . 92,
p . 1499; V . 9 7 , p . 8 0 3 , 1583.

GULFPORT, MISS.
GULFPORT & MISSISSIPPI COAST TRACTION CO.
O R G A N I Z A T I O N .— I n c o r p o r a te d In M ississippi In 1905. P u rch a stu
th e B ilo x i E le c tr ic R y . & P o w e r C o. and th e G u lfp o r t D e v e lo p m e n t Co.
In 1907 in crea sed a u th . s to c k fro m $ 1 ,000,000 t o $ 2 ,0 0 0 ,0 0 0 .
STOCK AN D BON DS—
Date.
Interest. Outstanding.
M aturity.
S t o c k , $ 2 ,0 0 0 ,0 0 0 ($ 1 0 0 )................................................... $ 1 ,0 0 0 ,0 0 0
......................
1st m o r t ., $ 1 ,0 0 0 ,0 0 0 , g o l d ,! 1905
6 g A -O
1.000,000 S e p t. 30 ’ 35
( $ 1 ,0 0 0 ) ................................ t f / I n t . a t H ibern ia B k . & T r . C o ., N . O rl., T ru s.
S econ d
m o rtg a g e
g o l d ! 1907
6 g J-J
692,000 J u ly 1 1932
( $ 1 , 0 0 0 ) _______________c . t f/H lb e r n la B ank & T ru st C o ., T ru ste e .
B ll. El. R y . & P . 1st m t g e ., g l 1903
6 g J-J
170,400
Jan 1 1924
L • ($100, $500 $1,000) . . . t f / I n t . a t H ibern ia B k . & T r . C o ., N ew O rleans




XCVI1I.

B o n d s.— T h e bon d s o f 1905 are s u b je c t to call on O c t. 1 In a n y y e a r a t
105; no sinking fu n d .
In terest on 2d m tge. Is p a y a b le a t F irst N a t. B a n k ,
G u lfp o r t.
B o n d s h a v e n o s. f. a n d are n o t s u b je c t to ca ll. T h e B ilo x i
E le ctric R a ilw a y & P o w e r b o n d s are s u b je c t to call a t 106 an d Interest.
E A R N I N G S .— F o r y ear e n d . Jun e 30 1913. gross. $ 2 7 2 ,6 7 9 .
R O A D .— O perates 13 m iles o f tra ck fro m G u lfp o rt t o B ilo x i an d 11 m iles
fro m G u lfp o rt t o Pass C hristian; also 6 m iles o f track In B ilo x i; t o ta l. 30 m .
O F F I C E R S .— P re s ., J . T . J o n e s, G u lfp o rt: V .- P . a n d A u d .. R . E . P o w ­
ers, B u ffa lo , N . Y . ; S e c ., H . C. E ld e r; T r e a s ., F . V . O sb o rn e , G u lfp o r t; G en.
M g r., W . F . G oren flo, G u lfp o r t.— V . 83, p . 95.

HAGERSTOWN, MD.
THE HAGERSTOWN & FREDERICK R Y. CO.
O R G A N I Z A T I O N .— I n c o r p . A p r . 7 1913 n M a r y la n d as a c o n s o lid a ­
tio n o f th e F red erick R R ., F rederick G as & E l. C o ., M y e r s v h le & C a t o c tin R y ., H agerstow n R y ., H a g e rsto w n & B o o n s b o r o R l {
H agerstow n Sc
M y e rs v ille R R .. H agerstow n & N o rth e rn R R . an d F rederick & H a g e rs to w n
P o w e r C o . A u th . b y sto ck h o ld e rs on M a r . 21 an d 22. V . 96. p .9 4 7 . 1422.
I t w as re p o rte d in M a y 1914 th a t th e a u th o riz e d s to c k o f this c o . is t o
b e increased fro m $ 3 ,0 0 0 ,0 0 0 t o $ 4 ,2 0 0 ,0 0 0 .)
O utstanding.
STOCK AN D BON DS—
D a te.
In terest.
M a tu rity.
$2,000,000
C o m m o n , $2 ,0 0 0 ,0 0 0 ($ 5 0 )___ ______
635 ,000 ......................
P r e f, 7 % c u m , $ 1 ,0 0 0 ,0 0 0 ( $ 5 0 ) ____
____
u M
_____
See te x t.
M a y 1 1943
1913
5_ g
-N
F irst & r e f m tg e , $ 10 ,000 ,00 0
($1,000) sin k in g fu n d .c & r In te re s t a t B a ltim o re T r u s t C o ., T r u s te e .
1896
6 g Q -F
2 00 ,000 M a y 1 1916
H agerstow n R y
1st m tg e
$200,000 g o ld ......................... In terest a t K a v y L a n e & C o ., H a g e rs tow n .
1904
5%
120,000 Ju ly 1 1924
H ager & M yers R y , $125,000
H agers & B o >nsb R y 1st M
1902
5 F -A
110,000 F e b 1 1922
In t. at M aryland S . & T r . C o .,H a g e r s to w n
$120,000 ($500 & $ l,0 0 0 )o
H agers & N or R R 1st m tge? 1908
5 g F -A
2 00 ,000 M c h 1 1927
$ 2 0 0 ,0 0 0 gold ($ 1 ,0 0 0 , $ 5 0 0 /I n t . a t M aryland S. & T r. C o .. H a g e rsto w n .
and $ 1 0 0 )________________ c * j
T ru stee, W m . Jen n in gs.
Fred & H a g P o w 1st M _______ 1912
6%
30 0 ,0 0 0 A p r 15 1922
M y e r s v & C a t o c 1st M -------------- 1904 5 %
3 5 ,0 0 0 J u ly 1 1929
F rederick R R 1st & re f M $1,-1
1910 5 g M -S
1 90 ,000 M c h 1 1960
500,000 gold ($ 1 ,0 0 0 )____ /F id e lit y T ru st C o ., B a ltim o re , T r u s te e .
5 g J-J
2 5 0 ,0 0 0 D e c 1 1935
Fred & M id dletow n first m tg e ! 1905
$250,000 gold ($ 1 ,0 0 0 ). . . c j F i d e l i t y T ru st C o ., B a ltim o re , T ru ste e .
F red Gas & E lec 1st M $200,-1
1904 5 J-J
181,500 J u ly 1 1929
000 g ($ 5 0 0 & $ 1 ,000) g ,p & l,/I n t e r e s t a t W e st E n d T r u s t C o ., P h lladelb y Fred R R : n o t su b to call I p h la , tru stee.
.
M o n o c a c y V a lley R y f ir s t / 1908
5%
30,000
1925
m o r tg a g e ___________________ (S tein er S chley & L e o n a rd W a e s ch e o f F ro d er( ic k .- M d ., T ru stees.
Stock.— T h e p re f. s to c k is re d e e m a b le at p ar an d d iv id e n d s.
B on ds.— O f th e new $ 1 0 ,000 ,00 0 m t g e ., $1,515,000 aro reserved t o retire
p rior lien an d $ 1 ,785,000 to retire flo a tin g d e b t and fo r im p ts ., & c. Sinking
fu n d , b egin n in g Jan . 1919 t o J u ly 193 3,
% sem l-an n . o f all b o n d s issu ed.
T h e re a fte r , 43 % se m l-a n n . u n til m a tu r ity .
R e d . at 105, all or p a rt, b y lo t.
T h e H a ge rsto w n & B o o n e s b o r o R y . b o n d s are r e d eem able 1912 a t p a r. T h e
H agerstow n & N o rth e rn R R . b o n d s are s u b je c t t o call in 1917.
$280,000 o f th e F rederick R R . 1st & r e f. b o n d s are reserved t o retire a
like am o u n t o f p rior liens. B o n d s are s u b je c t t o call as a w h ole on an y in t .
d a te at 105. I n t. p a y a b le at c o m p a n y ’s o ffic e In F re d e rick . F r e d . Sc
M id d . b o n d s are s u b je c t t o call at 105 o n a n y in t. d a te .
F red. G as & E l.
bo n d s aro g u a r. p . & 1. b y F re d e rick R R . B a lt. T r u s t C o . , tru stee. T h e
M o n o c a c y V a lle y 1st M . b o n d s are secu red b y an e qu a l am o u n t o f b o n d s
o f th e F rederick R R ,
R O A D .— O perates a b o u t 81 m iles o f tr a c k .
O F F I C E R S .— P r e s ., E m o r y L . C o b le n t z , F re d e rick , M d . ; V .- P r e s .,
H e n r y H o lz a p fe l, H a ge rsto w n ; S e c ., M . P . M o lle r , H a g e rsto w n ; T r e a s ..
T h o m a s I I . H a lle r, F red erick ; A s s t . S e c. & T r e a s ., C . A . I fo a g , H agers­
to w n ; G e n . M a n ., W . J . H a r v ie — V . 9 6 , p . 947 , 1228, 142 2, 1488.

HAMPTON, VA.
N E W P O R T N E W S & H A M P T O N R Y ., G A S & E L E C T R I C C O .
O R G A N I Z A T I O N .— T h is co m p a n y w as o rga n ize d in 1914 as th e c o n s o ll
d a tlo n o f th e N o w p . N e w s & O ld P . R y . & E le c . C o . , C itiz e n s ’ R y ., L ig h t
& P o w e r C o . , H a m p to n R o a d s T r a c t io n C o . , N e w p o r t N e w s G a s C o . a n d
th e H a m p to n P h o e b u s & F o r t M o n r o e G a s C o r p o r a tio n .
STO C K A N D BO N DS—
D a te .
In terest. O utstanding.
M a tu r ity .
C o m m o n $ 1 ,2 5 0 ,0 0 0 _ ._ ............._ _ ................................... $ 1 ,2 5 0 ,0 0 0 .......................
P referred $ 1 ,2 5 0 ,0 0 0 ..........................................................
1 ,0 0 0 ,0 0 0 .................... ___________
2 ,4 7 9 ,0 0 0 ......................
F irst & r e f m tg e $ 7 ,5 0 0 ,0 0 0 ,. ( ____
(M a r y la n d T r u s t C o . o f B a lt ., tru stee.
T lio o u tsta n d in g a m o u n ts o f th e u n d e rly in g b o n d issues in th e fo llo w in g
ta b le are th e a m o u n ts p rio r t o th e c o n s o lid a tio n , an d aggregato $ 4 ,0 5 6 ,0 0 0 .
Sin ce th e c o n s o lid a tio n th ere h a v e be e n nu m erou s ch an ges and it is o ffic ia lly
sta te d th a t th e u n d erlyin g b o n d s o f th e N e w p o r t N e w s Sc H a m p to n R y . ,
G a s & E le c . C o . to ta l o n ly $ 2 ,2 2 5 ,0 0 0 — see V . 9 8 , p . 1460.
B O N D S p rior to M erg er (see a bove).
In terest.
Outstanding.
M a tu rity .
N ’p ’ t N e w s G a s C o b d s $75 ,000 ____
6%
$75 ,000
1927
H a m p to n R o a d s T r 1st m t g e .. 1906
4>3 J -J
7 00 ,000 Ju n e 1 1931
H am pt Ph
& F t M 1st ;M / 1909
5 J-J
125,000 J u ly 1 1929
$ 2 0 0 ,0 0 0 ___________________ (In te r e s t a t C itize n s ’ B a n k , N e w Y o r k .
N ew p o rt N ew s & Old P t. R y. & E l.—
1898
5 g M -N
900,000 N o v . 1 1938
F irst m o rtg a g e ,
$90 0,00 0,
g o ld ($1,000 e a c h ).......... _c* Interest a t A le x B row n * S o n s, B a lt., M d.
5 g M -S
1,456,000 M ch 1 1 9 4 1
G eneral m o rtg a g e , $ 4 ,0 0 0 ,­ 1901
000, g o ld ($1,000 e a c h )_ c * In t. a t A le x . B row n & S on s, B a ltim o re , M d .,
o r a t c o m p a n y ’s a g e n c y In N ew Y o r k .
5 g M -N
800 .000 M ay 1 1940
First m tg C itizen s R y , L & P 1900
M arylan d T ru st C o ., B a ltim o re , T ru s te e .
$800,000 ($ 1 ,0 0 0 ), g o l d .c *
G uaran teed prln and I n t .. Interest at A le x . B row n & S o n s. B a ltim o re .
S tock.— $25 0,00 0 p r e f. s to c k is in tre a su ry .
.
B onds.— O f th e $2 ,4 7 9 ,0 0 0 1st & re f. b o n d s issu e d , $17 5 ,0 0 0 aro in t h e
treas. T h e M a r y la n d T r u s t C o . , B a ltim o re , is tru stee o f b o th th o fir s t
and general m ortg ages o f the N e w p o rt N ew s Sc O ld P o in t R a ilw a y St
E lectric. T h e N e w p o rt N ews & O ld P o in t b o n d s o f 1808 are s u b je c t to
call a t 110 on a n y Interest d a y at 60 d a y s ’ n o tice . T h e C itizen s’ R a ilw a y ,
Light & P ow er C o . bon d s are s u b je c t to call at 110 on a n y Interest d a y at
60 d a y s ’ n o tice ; th e y are gu aran teed b y th e N e w p o rt N ew s & O ld P o in t R y .
& E le ctrlo . See V . 71, p . 84.
R O A D .— In clu d in g C itize n s’ R y ., L ig h t Sc P o w e r C o . an d n a m p t o n
R o a d s T r a c . C o .; o p era tes 42.9 8 m iles o f tr a c k .
O F F I C E R S .— P res., C. L o o m is A lle n , S y ra cu se , N . Y . ; V .- P ., E . F .
P e ck , S ch e n e cta d y , N . Y .; V .- P . & G en . M g r., J . N . Sh a n n ah a n , H a m p ­
to n ; S e c . & T r e a s ., W illia m S te w a rt, H a m p t o n .— V . 9 8 . p . 236, 767 1 46 0.

HANOVER, PA.
HANOVER & McSHERRYSTOWN STREET RAILW AY CO.
O R G A N I Z A T I O N .— I n c o r p . in P o n n a . in 1892. Its ch a rte r runs f o r
999 years. O w ns a ll th o ($ 1 0 0 ,0 0 0 ) s to c k o f th o H a n o v e r L ig h t H e a t &
P ow er C o .
STO C K A N D BO N DS—
D a te.
In terest.
O utstanding.
M a tu r ity .
S to ck 3 2 0 0 ,0 0 0 ($ 5 0 ).....................................................
$ 1 3 5 ,0 0 0 J a n .’ 14, 4 %
F irst m tg $ 5 0 0 ,0 0 0 g ($1,000)1 1908
5 g J -D
4 0 0 ,0 0 0 Jun o 1 1928
s u b je c t t o call a t 1 0 5 .-C * tf /In te r e s t a t Y o r k T r u s t C o ., Y o r k . P a ., T r u s .
Bonds.— O f rem ain ing b o n d s $ 1 0 0 ,0 0 0 are reserved fo r e x te n sio n s, & c.
, D ividends.— In J u ly 1894, 2 4 3 % ; in 1895. J a n ., 243; 1897-1902 re cord s
lo s t.
1903 an d 1904 n o n o . In 1905, J a n ., 6 % .
In 1900 an d 1907, n o n e ;
J a n . 1908 t o Jan . 1913, in c l., 6 % p er an n u m . In J u ly 1913 5 0 % s t o c k
d iv . p a id ; J a n . 1914 (re g u la r), 4 % .
E A R N I N G S .— F o r c a l. y e a r 1913, gross, $ 92 ,812 ; n e t, a fte r ta x e s , $ 4 3 ,­
621; in t., $21,138; d iv id e n d s . $ 5 ,4 0 0 ; su rplu s, $ 1 7 ,6 8 3 .
In 1912, g r o s s ,
$87,653; n e t, a fte r taxes, $ 4 0 ,6 0 0 ; in te re st, $ 2 0 ,9 0 6 ; d iv id e n d s , $ 5 ,4 0 0 ;
surplus. $19 ,6 9 4 .
R O A D .— O w ns 12.57 m iles o f tra ck In an d b o tw e e n H a n o v e r , M c S h e r r y s to w n , L ittle s to w n and C o n e w a g o C h a p e l. S ta n d a rd g a u g e . 6 0 -lb . T a n d
girder rails. A n exte n sio n t o N e w O x fo r d is u n d o r c o n s tr u c tio n ; a b o u t
1-3 o f a m ile is c o m p le te d an d in o p e r a tio n .
O F F I C E R S .— P res., J . W . S te a cy ; V .- P ., W . D . H im e s; S e c . & T r e a s .!
E llis S. L ew is; G e n . M g r ., R . E . M a n le y .— V . 9 8 , p . 1459.

M ay , 1914. J

ELECTRIC RAILWAYS
H A R R IS B U R G , P A.

H A R R IS B U R G R A IL W A Y S .
O R G A N I Z A T I O N .— I n c o r p . in P e n n , on N o v . 29 1912 and m erged
th e C en tra l P e n n s y lv a n ia T r a c t io n C o . (see “ E le c tr ic R a ilw a y ” Section o f
S e p t. 1912) an d its su b sid iaries. V . 9 0 . p . 202 .
O f tlio now b o n d s, $ 3 ,0 0 0 ,0 0 0 h a v e been issued, th e pro ce e d s o f w h ich w ill
retire o r p ro v id e for retire m e n t o f all u n d erlyin g b o n d s e x ce p t th e C itize n s ’
Passen ger fir s t m o r tg a g e 6 s . ' A ce r tific a te w as file d on Ja n . 6 1914 to
increase the d e b t fr o m $ 3 ,0 0 0 ,0 0 0 t o $ 3 ,1 6 9 ,0 0 0 . V . 9 8 , p . 155.
M a tu rity .
STOCK AN D BON DS—
D a te.
Interest.
O utstanding.
C o m m o n $ 3 ,0 0 0 ,0 0 0 -------------------------------------$ 3 ,0 0 0 ,0 0 0
P referred cu m $ 2 ,1 0 0 ,0 0 0 ---------------See te x t
2 ,1 0 0 ,0 0 0
1942
F irst & ref. in tge $ 1 0 ,0 0 0 ,0 0 0 1
1912 5 J -D
3 ,0 0 0 ,0 0 0
($ 1 ,0 0 0 and $ 5 0 0 ) ______t f (H a rrisb u rg T r u s t C o ., T r u s te e .
L in g & HI M t n m tg $12 5,0001
1905 5 A - 0
8 ,1 0 0 A p ril 1 1935
g o ld ($100 & $ 5 0 0 ) - - . c t f (In te re s t at H a rrisb u rg T r u s t C o . , T ru ste e .
H a r r & H u m 1st M $20 0,00 01
1905 d'A g M -N
17,000 A p ril 1 1935
g u a r prin a n d in te re s t. _t f /
„
C i t i z e n s 'Passenger fir s t m tg e j
1894 6 g M -N
7 5 ,0 0 0 M a y 1 1924
$ 7 5 ,0 0 0 g o l d _____ ______ __ / i n t . a t C o m ’w ’ th G u a r . T r . C o . . H a rrisb u rg.
S T O C K .— P r e f. s t o c k is cu m . a t 5 % u n til 1915 an d 6 % th e re a fte r.
R E P O R T ( o f m erged c o m p a n ie s ).— F o r fiscal y e a r e n d in g Jun e 30 1913,
gross, $94 4 ,0 4 5 ; n e t, $ 57 2,72 1; re n ta ls, taxes an d in t ., d iv s . an d b e tte r ­
m en ts, $ 48 4,93 3; su rp lu s, $ 8 7 ,7 8 8 .
R O A D .— O w ns an d op e ra te s 72.91 m iles o f line.
O F F I C E R S .— P r e s ., H . D . W a lb r id g e , N . Y . ; V . - P . & G e n . M g r .,
F . 11. M u sser, H a rrisb u rg; S e c ., Jas. O ’ C o n n e ll. O ffic o , H a rrisb u rg .—
V . 9 5 , p . 1745; V . 9 6 , p . 202; V . 9 8 , p . 155,
V A L L E Y R A IL W A Y S .
O R G A N I Z A T I O N .— I n c o r p o r a te d in P e n n sy lv a n ia in J u ly 1912 and in
S ep t. 1912, a fte r increasing its s t o c k fro m $ 1 0 ,0 0 0 t o $ 2 ,5 0 0 ,0 0 0 ( o f w h ich
$50 0 000 is 6 % cu m . p r e f . ) , pu rch ased c o n t r o l o f th e V a lley T r a c tio n C o .,
w h ich in turn c o n tr o lle d th e H a rrisb u rg & M c clia n ic s b u r g E le c , l t y .. W h ite
H ill & M c clia n ic s b u r g P ass. R y ., C a rlisle & M c clia n ic s b u r g S t. R y ., W e st
F a irv iew & M a r y s v ille E le c . S t. It y s ., H a rrisb u rg & R iv e r to n S t . R y .,
F a irv iow & R iv e r to n R y . an d th o U n ite d E le c t r ic C o .
STOCK AN D BON DS—
D a le.
In terest.
O utstanding.
M a tu rity .
$ 2 ,0 0 0 ,0 0 0
C o m m o n $ 2 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) - - ------5 0 0 ,0 0 0 ................. ..
6%
P r e f cu m $ 5 0 0 ,0 0 0 ($ 1 0 0 )----------------1,0 0 0 ,0 0 0 A u g 3 1952
5%
C ollateral tru st $ 1 .7 0 0 ,0 0 0 ..t f 1912
555 ,5 0 0 O ct 1 1933
5 g A -0
V a lley T r a c 1st M $70 0,00 01 1903
i An &
Pr $500)
ftI~\H\ - _ c^* n^t f (I
T*it
g o ld ($100
n t . natt F a rm e rs’ T r . C o . , C a rlisle, P a ., T rtis.
II & M 1st m tg c $224.0001 1894
6 g M -S
144,500 S ep t.
1914
g o l d ______________________ t f / I n t . a t o ffic o o f tru ste e , Ila rrisb u rg h T r . C o .
Bonds.— R em a in in g c o ll, tru s t b o n d s ($ 7 0 0 ,0 0 0 ) are re se rv e d t o retire
p rior Hens. V a lley T r a c t io n b o n d s are s u b je c t t o call a t 110. A sin kin g
und o f $ 5 ,0 0 0 p er a n n u m co m m e n ce d O c t . 1 1908.
R O A D .— O perates 44 m iles o f ro a d fr o m H a rrisb u rg t o M a r y s v ille and
t o C a rlisle.
O F F I C E R S .— P res. & G e n . M g r ., C . I I . B is h o p , L e m o y n e , P a .; S e c. &
T r c a s .. C . M . D a v id s o n . G en eral o ffic e s , L e m o y n e .— V . 9 6 , p . 64.

H A V E R H IL L , M ASS.

NEW HAMPSHIRE ELECTRIC RYS. .

„

O R G A N I Z A T I O N . — A v o lu n ta ry a sso cia tio n su cce e d in g th e N e w H a m p ­
sh ire T r a c t io n C o . o n A u g . 1 1905. O w ns a ll t h o c a p ita l s to c k o f th e f o llo w ­
ing com p a n ies; a ls o all th eir b o n d s e x c e p t $ 8 4 ,0 0 0 ot’ th o D o v e r S om ersw orth
& R o c h e s te r S t. R y ., $ 4 9 ,0 0 0 o f th o A m e s b u ry & H a m p to n S t. R y . C o .
an d $ 2 3 0 ,0 0 0 o f C itizen s E le c tr ic S t. R y . (seo b e lo w ) . In N o w H am psh ire
— D o v e r S om ersw orth & R o c h e s te r S t. R y . C o .; R o c k in g h a m C o u n ty L ig h t
& P o w e r C o .; G ra n ite S ta to L a n d C o .; in M a in o — K it t e r y E le c tr ic L t g . C o .;
in M a s s .— M a s s a ch u s e tts N o rth e a s te rn S t. R y . C o .
S T O C K AN D BON DS—
D a te.
In terest.
Outstanding.
L a stD iv
C o m m o n $ 4 ,0 0 0 ,0 0 0 ($ 1 0 0 )----- ---------------------$ 3 ,9 0 0 ,0 0 0 ------------------P r e f 4 % n - c . $ 4 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ____
J-J
3 ,4 0 0 ,0 0 0 Ja n . ’ M , 2 %
U N D E R L Y IN G L I E N S .
D o v e r Som ers & R o c h 1st M l
g $ 3 0 0 ,0 0 0 ($ 1 ,0 0 0 ) c* s fj- 1901
5 g J-J
See te x t. J u ly 1 1921
$ 5 ,0 0 0 per ann b egin s 1904; In te re st a t A m e rica n T r u s t C o . , B o s t o n .
b o n d s ca n n o t b e c a lle d -------j
A m e s b u ry & H a m p ton 1st M \ 1899
5 g A -O
See te x t. O ct 1 1919
g old $10 0 ,0 0 0 ($ 1 ,0 0 0 ) ___ ( in t . at B e a co n T r u s t C o ., B o s to n , T ru ste e .
C itiz e n s ’ E le c St R y fir s t! 1900
5 g J -D
2 3 0 ,0 0 0 D e c 1 1920
in tgo $23 0 ,0 0 0 g o l d ---------- /B e a c o n T r u s t C o . , B o s t o n , T ru s te e .
Bonds.— N ow Ila m p . E le c t. R y s . ow n s a ll th e $ 3 0 0 ,0 0 ° D o v e r S o m . &
R o c h . b on d s e x c e p t $ 8 4 ,0 0 0 a n d a ll th o $ 1 0 0 ,0 0 0 A m e s & I la m p . b o n d s
e x c e p t $ 4 9 ,0 0 0 .
E A R N I N O S .— F o r y ear e n d in g Ju n o 30 1913, g ro ss, $ 9 1 1 ,9 9 2 ; n e t,
$ 2 7 4 ,7 3 7 ; in t. & ta x e s. $ 8 9 ,3 8 0 ; su rp lu s, $ 1 8 5 ,3 5 7 .
In 1912, g r o s s ,
$ 8 9 8 ,2 0 8 ; n e t, $28 6 ,9 1 9 ; in t. & ta x e s, $76 ,2 7 7 ; su rplu s, $ 2 1 0 ,6 4 2 .
D I V I D E N D S .— C o m p a n y p a id 1 % each 6 m o s . on p re f. fro m J u ly 1908
t o an d in cl. J a n . 1910. F r o m J u ly 1910, 1 K % s e m l-a n n ., t o and in clu d .
J a n . 1912. J u ly 1912 an d th e re a fte r, up t o an d Inch Ja n . 1914, 2 % . s .-a .
R O A D .— C om p a n ies c o n tr o lle d op e ra te 140 m les o f tra ck c o n n e ctin g
N a s h u a P elh a m , L o w ell, L a w re n ce , M e th u e n , H a v e rh ill, S alem . M e r rim a c .
A m es b u ry S alisb u ry, N e w b u ry p o rt and S alisbu ry, S e a b ro o k and H a m p to n
b each es. D o v e r , S om e rsw o rth , R o ch e s te r an d E a st R och ester— all p o in ts
In N I f o r M a s s . C o m p a n y ow n s several p lcasu ro re so rts. A ls o do e s
electric-lig h tin g business. P o p u la tio n s e r v e d . 5 0 0 ,0 0 0 .
O F F I C E R S .— P r e s .. D . A . B o ld e n , H av e rh ill; V .- P . , M . N . B u ck n e r ,
N o w Y o r k ; S ec. and T r o a s ., F . J . H o rn e , N e w Y o r k .
V . 8 8 , p . 1500; V ,
9 0 . p . 237: V . 9 1 . D. 215; V . 9 4 , p . 1696; V . 9 5 , p . 4 7 , 236 , 298; V . 96,
p . 863; V . 9 7 , p . 803; V . 9 8 . p . 236 .

H A ZL E T O N , PA.
W IL K E S -B A R R E & H A Z L E T O N R R .
O R G A N I Z A T I O N .— In c o r p o r a te d in N o w J ersey M a y 1901 an d a cq u ire d
th o en tire ($ 1 ,5 0 0 ,0 0 0 ) ca p ita l s to c k and ($ 1 ,5 0 0 ,0 0 0 ) b o n d s o f the W ilkesB a rre & H a zleton Railway C o . (P e n n sy lv a n ia in co rp o ra tio n ) an d de p o site d
th o sam e, tog eth er w ith $ 1 4 0 ,0 0 0 (en tire issue) o f tho L eh igh T r a c tio n C o . ’s
5 % c ertifica tes o f in debtedn ess and $92 2 ,2 0 0 o f tho $ 1 ,6 0 0 ,0 0 0 s to c k o f
th e L eh igh T r a c tio n C o . as se cu rity fo r tho W ilk es-B a rre & H a zleton R a il­
road C o . issue o f first co lla te ra l trust m o rtg zg o 5 % g o ld b o n d s. V . 72,
p . 1281. Franchises aro 999 years in and a ro u n d Ila z lo to n an d perpetu al
fro m H a zleton t o W ilk cs-B a rro .
In terest in D efa u lt.— T h e interest d u o M a y 15 1914 o n th o co lla te ra l trust
m tg . o f 1901 d u o M a y 15 1914 w ill n o t b e p aid. In lieu o f p a y in g tho interest
b on d h old ers liav o been requ ested t o surrender th eir c o u p s ., d u o M a y 15 T 4 to
N o v . 15 1916, an d in return th o c o m p a n y w ill issuo n o n -in terest-bearin g
certifica tes fo r th o c o u p o n s as th e y b e c o m e d u o . Seo V . 98, p . 1539.
S T O C K A N D B O N D S — ■ D a te.
Interest.
O utstanding. M a tu rity .
C o m m o n $ 2 ,5 0 0 ,0 0 0 ($ 1 0 0 )......................... - ...........
$ 2 ,5 0 0 ,0 0 0 ......................
P r e f 6 % n on -cu in $ 7 0 0 ,0 0 0 .........................................
185,600 - .......... .........
C o llateral trust m ortg a g e .$2,-1; 1901 5 g M -N 15 1 ,9 0 0 ,0 0 0 M a y 151951
5 0 0 .000 g old ($ 1 ,0 0 0 )___ c * J I n t . a t G u a ra n ty T r u s t C o . . N . Y . , T ru stee
C o lla tera l trust m o rtg a g e $ l . - { 1905
5 g A -O
1,227,000 O ct 1 1945
5 0 0 .0 0 0 g o ld ( $ 1 ,0 0 0 )-------c / I n t . a t G u a ra n ty T r u s t C o . . N . Y . , T r u s te e .
Bonds and Stock.— O f th o au th orized Issuo o f$ 2 ,5 0 0 ,0 0 0 c o ll, trust b o n d s o f
19 0 1 , $ 6 0 0,00 0 aro reserved t o rotiro all b o n d s o f the L eh igh T r a c tio n C o . A
sin k in g fu n d o f $ 2 0 ,0 0 0 per a n n u m , w h ich began Jun o 1 1908, is t o b o in­
v e s te d in th o colla tera l tru st b o n d s o r in b o n d s p u rch asab le b y savin gs
ban ks in N ow Y o r k S ta to . S e o V . 7 2 , p . 1281; V . 7 8 , p . 289 . T h e co lla te ra l
tru st b on d s o f 1905 h a v e a sin kin g fu n d o f $ 1 0 ,0 0 0 per a n n u m , w h ich began
in 1910. B on d s can bo ca lle d a t 110. P referred s t o c k c a n , a t o p tio n o f
c o m p a n y b o c h a n g e d a t a n y tim o Into th e b o n d s o f th o c o m p a n y , a t p a r,
said b on d s t o bear n o t less th an 5 % , or m a y b o re d . at par in cash.
E A R N I N G S .— F o r c a l. y r . 1913 (in c l. allied c o m p a n ie s ), gro ss, $ 4 5 8 ,3 4 4 ;
n o t, $23 7,01 8; in t ., taxes an d renew als, $ 20 8,94 9; su rp lu s, $ 2 3 ,0 6 9 .
O F F I C E R S .— P res., A . M ark lo; V .- P . & G e n . M g r ., C . B . H o u c k ; S e c . &
T r e a s ., N . C . Y o s t .— V . 8 3 , p . 1292; V . 87, p . 679; V. 98, p . 1539.
(1) L e h ig h T r a c t i o n C o .— A tr o lle y r o a d .
O R G A N I Z A T I O N .— C h a rte re d N o v . 7 1892. Franchise p e rp e tu a l.
O w n s, con trols and leases fo r 999 years a t an annual ren tal o f $1 each tho
H a zleton & Sub u rban E le c tr ic R y ., c a p ita l $ 3 0 ,0 0 0 ; H a z le to n & S ou th
S id e E le c tr ic R y ., c a p ita l $ 7 5 ,0 0 0 ; Ila z lo to n & N o r t h Side E le c tr ic I l y . ,




59

c a p ita l $ 7 5 ,0 0 0 . T h e $ 1 4 0 ,0 0 0 c e rtifica te s o f in d ebted n ess an d $92 2 ,2 0 0
o f L e h igh T r a c t io n s t o c k are d e p o s ite d as se cu rity fo r th e W ilk e s-B a rre &
H a z le to n R R . b o n d s o f 1901.
,
STOCK AN D BON DS—
D a te.
In terest.
O utstanding.
M a tu rity.
________
$ 1 ,0 0 0 ,0 0 0 ____________
S to c k $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )____________
F irst m o rtg a g e $ 5 0 0 ,0 0 0 g o ld ) 1893
5 g J -D
5 0 0 ,0 0 0 Ju n e 1 1923
($ 1 0 0 , $ 5 0 0 , $ 1 ,0 0 0 )____ c * /M a r k l e B k g . & T r . C o . , H a z le to n , T ru stee.
________
140 ,000 ____________
C e rtifica te s o f i n d e b t e d n e s s ....____
H azle P a rk b o n d s , S 6 0 ,0 0 0 — - 1895
5 g A -O
6 0 ,0 0 0
1925
R O A D .— O perates 22 m iles o f tr a c k , n ew 5 8 -lb . steel T rails, oa k ties, w ell
b a lla s te d . R o a d e xten d s fro m H a z le to n to W e st H a z le to n , t o Y o r k to w n
(c o n n e c tin g w ith P e n n sy lv a n ia R I t . an d L eh igh V a lle y R R . ) , t o M c A d o o
(sou th ) and M iln e s v ille , L a tim e r M in e s and F reelan d (n o r th ).
O F F I C E R S .— P r e s ., A . M a r k le ; V .- P . , C . B . H o u c k ; S e c. an d T r e a s .,
N . C . Y o s t ; G e n . M g r ., C . B . H o u c k .
(2) W i lk e s - B a r r e & H a z le t o n R y .— A t r o lle y , ste a m an d th ird -ra il ro a d .
O R G A N I Z A T I O N .— C h a rte re d D e c . 13 1899 u n d e r G en eral R a ilroa d
L a w A c t o f A p ril 4 1868, S ta te o f P e n n s y lv a n ia . T h e W ilk e s-B a rre &
H a zle to n RR. o w n s th e en tire s t o c k and b o n d s.
STOCK AN D BON DS—
D a te.
In terest.
O utstanding. M a tu rity
S to ck $ 1 ,5 0 0 ,0 0 0 full p a id ___________
________
$ 1 ,5 0 0 ,0 0 0 ____________
F irst m o rtg a g e $1,500,000 1 1901
5 g M -N
1,5 0 0 .0 0 0 M a y 1 1951
g o l d _________________________ /In te r e s t a t G u a ra n ty T r u s t C o . , N . Y . , T r u s .
R O A D .— O w ns 27 m iles o f ro a d fro m H a z le to n t o W ilk e s -B a rre , a n d uses
fo r term in als 1 m ile L e h igh T r a c t io n C o . tra ck a t H a z le to n an d 2 m iles
W ilk e s -B a rre T e rm in a l R R . C o . tra ck a t W ilk e s -B a rre ; t o t a l, 30 m iles.
E n tire ro a d p la ce d in op e ra tio n M a y 1 1903. R a ils , 95 lbs.
O F F I C E R S .— P r e s ., A . M a r k le ; V .- P . an d G e n . M g r ., C . B . H o u c k ;
S e c. an d T r e a s ., N . C . Y o s t ; S u p t. o f T r a n s ., A . F . lla r g e r .
(a) W i lk e s - B a r r e T e r m i n a l R R .
O R G A N I Z A T I O N .— In c o r p o r a te d on O c t . 9 1 90 3. S to c k a u th orized
an d o u ts ta n d in g , $ 3 5 ,0 0 0 (par $ 5 0 ). B o n d s a u th o r iz e d , $ 6 0 0 ,0 0 0 (c& r );
D a t e 1905; d u e O c t . 1 1945. I n t . (5 g . A -O ) p a y a b le in N e w Y o r k .
R O A D .— 3 m ile s, b etw een W . B . T e r . R R . J u n e , a n d W ilk e s -B a rre.
R a lls , 9 5 -lb . T ; ga u g e , 4 f t . 8 A in . P r e s ., C . J . K irsch n e r; S e c .-T r e a s .,
N . C . Y ost.

H ELEN A, M ONT.
T H E H E L E N A L I G H T & R A I L W A Y C O — T r o lle y , e le ctric ligh t and
p o w e r , gas ligh t an d fu e l.
O R G A N I Z A T I O N .— In c o r p o r a te d in C o n n e c tic u t in S e p t. 1905 as su c­
cessor t o th e H elen a L ig h t & T r a c tio n C o . V . 8 1 , p . 1043. C o n tr o ls the
H elen a G as L ig h t & C o k e C o .; co m p rise s th o c i t y ’s e n tire s tr e e t railw ays
an d gas a n d e le ctric-lig h t p la n ts. Franchises ex p ire A p ril 4 1926.
D e c is io n .— T h e M o n ta n a S u p . C o u r t in F e b . 1913 h eld th a t c it y co u ld
n o t e n fo r ce an ord in a n ce w h ich re q u ire d the c o m p a n y t o lig h t its tra ck s
w ith in th e c it y lim its w ith o u t exp en se t o th o c it y — see V . 9 6 , p . 1422.
STO CK AN D BON DS—
D a te.
In terest.
O utstanding.
M a tu rity.
C o m m o n $ 9 0 0 ,0 0 0 ---------------------------Q"F^
5 Q -F
3 7 4 ,0 0 0 F e b . 14. I K
P referred $ 6 0 0 ,0 0 0 5 % cu m
F irst m o rtg a g e $1,500.0001 1905
5 g M -S
l,O O l,O 00 S ept 1 1925
g o ld ($ 1 ,0 0 0 )____________ c * / I n t . at K n ic k e r b o c k e r Tr. C o . , N . Y . , T ru st.
Bonds.— T h e 1st M . b o n d s aro s u b j. t o ca ll a t 105 a n d in t.; $ 4 0 4 ,0 0 0 are
re served fo r e x te n s. a n d im p ts ., a t 8 5 % o f c o s t . A sin k. fd . o f l f i % p e r
a n n . o f b o n d s o u t co m m e n ce d Ju n e 1 1908, w h ich w ill b e in crea sed t o 2 A %
p er an n u m Ju n o 1 1918; sa id fu n d t o b e used in r e tir e m e n t o f b o n d s a t n o t
h igh er th a n 105 a n d in t . Seo V . 8 1 . p . 1550. $ 9 5 ,0 0 0 h a v e been retired
b y sink. fd . t o d a te .
,
, , . . „
* . . .
D iv id e n d s — F iv e p e r c e n t p e r an n u m in q u a rte rly in stallm en ts is b ein g
p a id o n p r e f. s t o c k . F irst d iv id e n d o n c o m m o n , 1 % , p a id O c t . 31 1906.
In 1907, 3 % .
In 190 9, 3 % .
In 1910. 4 % . In 1911 an d 1912, 5 % .
In
1913, F e b ., 1 M % : M a y . 1 M . ,*
E A R N I N G S .— F o r 12 m o s . e n d . D e c . 31 1913: gro ss, $ 32 7,16 4; n e t,
a fte r ta xes, $ 95 ,256 ; in t. an d sin k in g fu n d , $ 68 ,142 ; su rp lu s, $ 2 7 ,1 1 4 . In
1912, gross, $ 33 3,77 3; n e t, a fte r ta x e s, $ 1 2 4 ,7 1 3 . tixed ch a rge s, $48 ,0 8 5 ;
sinking fu n d , $15,613; s u r ., $ 61 ,015 .
R O A D . — Operates 23.5 5 miles o f t r a c k .
, . _
O F F I C E R S .— P re s., P . G . G ossler; V .- P s ., J . I I . P a rd ee and A . C o p p ell;
S e c ., I I . S. C o lle tte ; T r e a s ., R . B . M a r c h a n t; A s s t. S ecs. & A s s t. T rea s s ,
T . W . M o f f a t (all o f N e w Y o r k ) and A . B . S ib le y , H e le n a . O p e ra ted u n ­
d er th e gen eral m a n a ge m e n t o f J . G . W h ite M g t . C o r p ., N e w \ o r k C it y .
— V . 8 8 , p . 1061; V . 9 1 , p . 1095; V .t 9 6 , p . 1422.

H O L Y O K E , M ASS.
H O L Y O K E S T R E E T R A I L W A Y .— T r o lle y .
O R G A N I Z A T I O N .— L ea ses th e M t . T o m (in clin e ) R R . u n til'J u n e 1 1922
at 6 % p er a n n u m o n th e $ 1 0 0 ,0 0 0 s t o c k y In 1907 purchased" th e H a m p ­
shire S tre e t R y . (p re v io u sly le a s e d ). V . 8 5 , p . 4 0 . .• In A u g . 1907 pu rch ased
the A m h e rs t & Sun derlan d S tre e t R y . ( V . 8 5 . p . 2 9 4 ), g iv in g a th rou gh
co n n e c tio n fro m H o ly o k e t o A m h erst an d Su n derlan d.
In Ju n o 1913 th e M a s s . R R . C o m m , a u th o riz e d th e c o m p a n y t o Issue
$ 4 7 6 ,5 0 0 o f a d d itio n a l s t o c k a t $115 p e r share fo r n ew e q u ip m e n t an d con
str u c tio n and to .p r o v id e fo r flo a tin g d e b t . V . 9 6 , p . 6 5 2 ,1 /1 6 , 1840.
D a te.
Interest. O utstanding. M a tu rity.& c.
STOCK—
$ 1 ,3 4 2 ,0 0 0 J a n .'1 4 , 4 %
S to ck ($ 1 0 0 ).....................................................
8J-J
D eb b d s ($5 0 0 , $ l , 0 0 0 ) c * . n t f 1895
5 A -O
250.000 A p ril 1 1915
D eb b d s ($5 0 0 , $ l , 0 0 0 ) c * - n t f 1899
5 A -O
85,000 O c t . 1 1920
D eben tu re b d s _____________ n t f 1903
5 A -O
265.000 A p ril 1 1923
Leased line rental M t T o m R R 1
100.000
s to c k 6 % ____________________ j _____
6
_______
.......................
In terest on all b o n d s p a y a b le at H o ly o k e N ation a l B a nk.
D ivid en d s.— In 1892 to Jan . 1914, In clu sive, 8 % y e a r ly .
R O A D .— H as 69.7 m iles o t tr a c k , Inclu din g M t. T o m (Incline) R R .*
4,900 feet lo n g , and c o n n e c tin g w ith th e W o r o n o c o S treet R y . to W e s tfie ld M ass.; w ith Springfield S t. R y . t o S prin gfield, M ass., an d w ith N o r t h a m p ­
ton S t. R y . to N o rth a m p to n , M ass., and d ire ct to C h ico p e e , C h icop ee Falls
S ou th H a d le y . A m h e rst an d S u n d erlan d . P assen ger cars, 120; o th e r ser­
v ice ca rs, 27; s n o w -p 'o w s , 10; o th e r veh icles, T e le ctr ic m otor;: 269.
E ' n N lN G S .— F o r y ear e n d . Ju n e 30:
I 1913.
1912.
1913.
1912.
G ross e a r n in g s ...$ 0 1 7 ,7 1 4 $578,206 B a la n ce fo r d i v s . $88,061
$81 ,895
N e t ........................... 183,614
176,530 D iv id e n d s p a i d . . (8 )8 5 ,8 8 8 (8 )8 5 ,8 8 8
I n t ., ta xes, & c ___
95,552
94,635 B a l. fo r y e a r ____ su r .2,173 d e f.3 ,9 9 3
O F F I C E R S .— P re s ., W m . S . L o o m is ; V .- P . & G en. M g r., L o u is D .
Pehisier; S ec. tc T r e a s ., S. D . N e v in , all o f H o ly o k e .— V . 86, p . 52; V .
96, p . 652, 716; V . 96, p . 1840.

rH O U G H T O N , M IC H .
HOUGHTON COUNTY TRACTION CO.— T r o lle y road
O R G A N I Z A T I O N .— O rga n ized In 1908 and to o k o v e r H o u g h to n C o u n ty
Street R y ., w h ich la tte r c o m p a n y w as In co rp o ra te d in 1899. F ran ch ises
in p u b lic streets exp ire In 1929, 1930, 1932, 1933 an d 1938. L a rg ely o n
p riva te rig h t o f w a y . $100,000 c o m . s t k . ow ned b y P u b . S erv. I n v e s t. C o .
STOC K A N D B O N DS—
D ate.
Interest. O u t s t a n d i n g M a t u r i t y ,
C o m m o n . $75 0,00 0 ($ 1 0 0 )....................
A -O
$75 0,00 0 A p r ’ 1 4 ,2 K
A -O
2 07 ,200 A p r ’ 1 4 , 3 %
P r e l.. 6 % cu m $500,000 ( $ 1 0 0 ) ________
1st co n so l m tge $1,600,0001 1 9 0 8 '" 5 g J-J
766,000 Jan 1 1937
($500 an d $1,000) g o l d . . t f / l n t . at O ld C o lo n y T ru s t C o ., B o s to n , T ru s t.
H o u g h C o St R y m tge $ 7 5 0 ,-J 1900
5 g J-J
349 ,0 0 0 J u ly 1 1920
000 g o ld ($ 1 ,0 0 0 )_____ c * t f \ l n t . a t B o sto n Safe D e p . & T r . C o ., T ru stee.
Slock and B on ds.— P r e f. s t o c k Is red eem a b le a t 110. $34 9,00 0 c o n s o l,
m tg e . b o n d s reserved fo r prior liens; $38,000 are In trea s.; $417,000 fo r fu ­
ture a d d itio n s a t 8 0 % o f c o s t ; th e y are s u b je c t t o ca ll as a w h o le o r in part
fo r sinking fu n d a t 105 and Int. S inking fu n d 1 A % o f o u ts ta n d in g b o n d s.
$30 ,000 h a v e been ca n c e le d . T h e H o u g h to n C o u n t y Street R y . b o n d s can
bo c a lle d as a w h o le o r in part a t 105 a n d Int. V . 87, p . 614
$400 000
h a v e been ca n ce le d .
D ivid en d s.— O n p r e f., 3 % s .-a . fro m O ct. 1908 t o A p r . 1914, Incl.
On
c o m m o n , 2 % O ct. 1909.
In 1910. A p ril, 2 j ^ % a n d sam e a m o u n t s .-a .
sin ce, t o an d Including A p r . 1914.
R E P O R T .— F o r 12 m o s . en d in g D e c . 31 1913, g r o s s , $ 29 6,85 3; n e t, a fte r
ta x e s, $11 6 ,5 9 3 ; c h a rg e s, $55 ,9 4 7 ; sin k , fu n d , $ 1 1 ,6 4 5 ; d iv s ., $49 ,9 3 2 ; b a l.
(d e fic it ), $93 1.
<
R O A D .— O w ns 32.2 m iles o f tr a c k . Inclu din g lines fro m H o u g h to n t o
H a n c o c k an d fro m H a n c o c k t o L a u riu m , R e d J a c k e t, L a k e L in d en an d
llu b b e ll, an d th e m in ing lo ca tio n s o f Q u in cy , O sce o la , W o lv e rin e , A llo u e y .
A h m e e k and M o h a w k ; 41 ca rs . S tan d ard gau g e.

60

ELECTRIC RAILWAYS

[Vol. XCVIII

O F F I C E R S .— P r e s ., F re d e rick P . R o y c e , B o s t o n ; V .- P s ., G u y L . W e y ­
m o u t h , B o s t o n , an d Jam es R . D e o , H o u g h t o n , M ic h .;S e c r e ta r y , A lv a h
K . T o d d , B o s to n ; T r e a s ., H e n ry B . S a w y e r, B o s to n ; M g r ., G a rd n e r
R o g e rs , H o u g h to n , M ic h .; G e n . M g r s ., S to n e & W e b s te r M g t . A s s n .,
B o s t o n .— V . 87, p . 614; V . 88, p . 1400; V . 80, p . 666; V . 0 4 , p . 1763.

D irecto rs.— R o b t . I . T o d d , R a n d a l M o r g a n , W . K e ls e y S c h o e p f, H a rry
S . N e w , J . J . A p p e l, J o s . A . M c G o w a n and E . B . P e c k .
V . 90, p . 1103,
1240. 136 4, 1491 1555; V . 01, p . 718; V . 92, p. 396 . 1375; V . 04. p . 209,
156 7; V . 9 5 , p . 892 ; V . 9 6 , p . 717; V . 98, p . 525 , 914.

HUDSON, N. Y .

(1) I n d ia n a p o lis T ra ctio n & T erm inal Co.
I n A p ril 1010 c o n tr o l w as acq u ire d b y th e T erre H a u te I n d ia n a p o lis A
E a stern T r a c t io n . V . 90. p . 1101, 1239.
S b l i e . — T h o s trik e w h ich b e g a n a t m id n ig h t O c t . 31 1913 a n d w as
a tte n d e d b y m u c h v lo le n c o , w as so ttle d o n N o v . 7 . S ee V . 0 7 , p . 1426.

ALBANY SOUTHERN RR.— Third rail, except In cities.
O R G A N I Z A T I O N .— In c o r p o r a te d In N ew Y o r k S e p t. 14 1000 an d Is a
reorga n iza tion o f th e A lb a n y A H u d s o n R R . C o . so ld u n d er fo re clo su re on
S e p t. 8 1000 (per plan V . 8 0 , p . 2 2 3 ). O n S e p t. 18 1000 m erged A lb a n y A
G reen bu sh B ridge C o. V . 8 0 , p . 7 2 0 . F ran ch ises are p e rp e tu a l.
D oes a
passen ger, freigh t an d exp ress business.
STOC K A N D BO N D S—
D a te.
Interest. O utstanding.
M a tu r ity .
C om m o n 81,3 7 5 ,0 0 0 (3 1 0 0 ).........................................
3 1 ,3 7 5 ,0 0 0 - ....................
P ref 3 2 ,1 0 0 ,0 0 0 5 % n -c ( $ 1 0 0 ) ____
F -A
2 ,0 2 9 ,0 0 0 A u g .’ l l , >4%
F irst m ortg a ge
$1,500,0001. 1000
5 g M -S
1 .3 0 2 .0 0 0 S e p t 1 1030
g o ld (3 1 ,0 0 0 )_________ c* t f j B a n k e rs T r u s t C o ., N ew Y o r k , T ru ste e .
B o n d s.— 3 1 .2 5 0 ,0 0 0 o f b o n d s w ere s o ld t o b an k ers, p ro ce e d s used In
a cq u irin g A lb a n y
& G reen bush B r id g e C o. a n d fo r straigh ten in g
an d d o u b le -tra ck in g r o a d , a n d to p a y fo r a p p a ra tu s th e r e to fo r e Installed.
R e m a in in g bon d s can be Issued fo r a d d itio n s a n d b e tte rm e n ts und er certain
restriction s.
R e c o r d in g ta x p aid o n th ese b o n d s, m aking them tax-exem pt in
N ew Y ork . S in k in g fu n d o f 1 J4% o f b o n d s a u th o riz e d fro m 1017 to 1022;
1022 t o 1020, 2 % ; 1020 t o 103O, 3 % .
B o n d s are s u b je c t t o call as a
w h ole a t 106 an d Interest o n a n y Interest d a y . V . 8 0 , p . 1140.
D I V I D E N D S .— In itia l se m t-a n n . d l v . o n p r e f., 1 > 4 % , p a id F e b . 1 1911
A u g ., H % ; n on e sin ce t o M a y 1014.
E A R N I N G S .— F o r 12 m o n th s e n d in g Ju n e 30 1013, gross, 349 7,26 6; net.
316 2 ,0 6 0 ; ln t., ta xes, A c ., 3 07 ,030 ; s u r p ., 365 ,0 3 0 .
In 1011-12, gross,
347 1,22 9; net, 311 4,05 1; ln t ., ta x e s, A c ., 592 ,362 ; s u r p ., 3 21 ,689 .
R O A D .— O perated b y th ird -rail s y s te m jfr o m H u d so n via R en sselaer to
A lb a n y .
C om prises 37 m iles o f m ain line and 9 m iles o f sidin gs, w ith 2
a d d itio n a l m iles o f o v e rh e a d tr o lle y ro a d In H u d s o n . T o t a l, 61 m iles o f
tr a c k . In F e b . 1000 m ad e c o n tr a c t g iv in g It p rivilege t o en ter A lb a n y o v e r
th e tra ck s o f th e U n ited T r a c tio n o f A lb a n y .
D o u b le -tra ck in g o f r o a d b e ­
tw een R en sselaer an d K In d e rh o o k L a k e c o m p le te d In 1010. O perates 30
passenger cars, 14 freigh t an d express cars, 2 s n o w -p lo w s a n d 3 ele ctric lo c o ­
m o tiv e s . R a lls 70 an d 8 0 -lb . steel; s ta n d a rd g a u g e . S u p p lies ligh t and
p ow er a lo n g ro u te . A ls o ow n s th e h igh w a y toll b rid g e o v e r H u d so n R iv e r
a t A lb a n y . A n exten sion fro m A lb a n y t o P itts fie ld Is p r o p o s e d .
O F F I C E R S .— P r e s ., W illia m L o e b J r .; S e c . & T r e a s ., I . W . D a y ; G e n .
M g r ., Jam es E . H ow es.— V . 8 0 , p . 72 0 , 1140, 1222, 1346; V . 0 2 , p . 183,
185; V . 0 4 , p . 122 . V , 0 7 , p . 1 5 0 0 .

TERRE HAUTE INDIANAPOLIS & EASTERN TRACTION.
O R G A N I Z A T I O N .— In c o r p o r a te d In In d ia n a on M arch 23 1007 and
a cq u ired b y p urchase (1) In d ia n a p o lis A Eastern R y .; (2) In d ian ap olis
C oal T r a c tio n ; (3) In d ia n a p o lis A W estern T r a c tio n ; an d (4) R ic h m o n d
Street A In teru rban R y .
On M arch 25 1907 leased th e T erre H aute T ra ctio n A L ig h t C o. fo r 999
years (see term s under th a t c o m p a n y b e lo w ), and in A p ril 1907 leased fo r
999 years th e Indian ap olis A N orthw estern T ra ctio n and th e In d ia n a p o lis A
M artinsville R a p id T ran sit (see term s u nd er resp e ctiv e c o m p a n ie s ).
In A p ril 1910 pu rch ased 4 6 ,717 o f tho 50,000 shares o f th e s to c k o f the
In d ia n a p olis T r a c . A T e r m . C o ., g iv in g Its o w n c o m m o n an d p re f. s to ck
In e x ch a n g e (V . 9 0 , p . 1103, 124 0); an d sin ce th a t tim e has a cq u ire d the
rem ain d er o f this s to c k e x c e p t d ir e cto r s ’ shares.
O n M a y 1 1912 leased fo r 999 years th e In d ia n a p o lis C raw ford svllle A
D a n ville E lec. R y . (see term s u n d er la tte r c o m p a n y b e l o w ) . V . 94, p . 1567,
F ra n ch ises.— I n a letter t o ban kers In M ay 1910, P re sid e n t o f the c o m ­
p a n y said: " T h e g reat m a jo r ity o f th e franchises u n d er w h ich th e system Is
op e r a te d ex ten d w ell b e y o n d the life o f these b o n d s [1st A r e f. m tg e .]. T h e
franchises In the c it y o f In d ia n a p o lis ex p ire In 1 9 3 3 .”
STOC K A N D B O N D S—
D a te.
Interest. O utstanding.
M a tu r ity ,
C o m m o n , 5 1 2 ,5 0 0 ,0 0 0 ( 5 1 0 0 ) ..................................
3 9 ,1 0 0 .0 0 0 ...............
P re fe rre d ,3 1 2 ,5 0 0 .0 0 0 ( 3 1 0 0 ) ..____
Q -J
9 ,1 0 0 ,0 0 0
See te x t.
1st A ref m ortg a ge 58,000,000 1 1910
5 A -O
6,5 0 0 ,0 0 0 A p r 1 1 9 4 5
g old (51.000) s f ________ c ’ J In t. a t F id e lity T ru s t C o ., P h lla ., T ru stee
In d A E a st 1st con s M ,31,000,-1 1902
5 g J -J
See t e x t J u ly 1 1927
000 , g o ld (5 1 .0 0 0 ), s f_ _ c * | I n t . a t M ercantile T ru st C o ., N . Y s, o r at
J Central T ru st C o ., In d ia n a p o lis , T ru stee
In d . A G reen. 1st M ., 3 3 0 0 .-f 1899
5 g J-J
171,000 J a n . 1 1929
000 (5 1 ,0 0 0 ), g o ld ---------c * ( I n t . at C lt. Savings A T ru st C o ., T r . C leve
l o r at First N ation a l B a n k , N ew Y o r k C ity .
S tock .—-P ref. s to c k Is 5 % cu m . a fte r J u ly 1 1910. S h o u ld c o m . a t a n y
tim e p a y 6 % , p ref. w ill p a y the sam e. V . 90, p . 1555
B o n d s .— R em a in in g 1st A r e f. b o n d s are reserved fo r a d d itio n s a n d Im­
p ro v e m e n ts u n d er ca refu l re strictio n s. C allable as a w h ole o n and a fte r
A p ril 1 1915 at 105 an d In t., o r In p a rt, fo r sinking fu n d o n ly , at 102 K
a n d ln t. on a n y in t. d a te .
5178,000 h eld In sin k in g fu n d J a n . 1 1914.
S . f. 5 5 5 ,0 0 0 p . a . first 5 years an d 310 6,67 5 p . a . thereafter; bon d s
acq u ired fo r s. f. to be held aliv e an d ln t. a d d e d to s. f.
V . 90, p . 1491.
O f th e 5 1 .0 0 0 ,0 0 0 I n d . A E a st, con sols a u t h ., 33 0 0 ,0 0 0 are reserved to
retire th e I n d . A G reenfield 1st 5s, 541 ,000 h a v e been ca n ce le d b y sink, fu n d
O f th e rem ain in g 565 9,00 0 o u t , 556 4,00 0 are o w n e d b y T erre H a u te I n d . A
E a st T r a c . A sin kin g Jund, 1 % o f b o n d s o u t . began J u ly 1 1908. F u n d Is
to be Invested In th e c o m p a n y ’s b o n d s If th e y can be b o u g h t a t n ot m ore
th a n 105 an d ln t.
B on d s c a n n o t be c a lle d . See V . 75, p . 342 . O n the
I n d . A G reenfield b o n d s. 5 12 ,500 Is p a y a b le y e a rly to a sin k in g fu n d begin ­
n ing O ct. 1 1904, w ith w h ich b o n d s b egin n in g w ith N o . 1 are being pur­
ch ased a t 105 an d a ccru ed ln t .; 312 9,00 0 h a ve been so p u rch ased .
D ivid en d s.— In itial d l v ., 1 14 % . on pref. paid O ct. 1910; sam e a m o u n t
q u a r . sin ce to a n d in c l. J a n . 1914. A p ril 1914 d iv . pa sse d . Soo V 98
p . 914 .
’
R E P O R T .— F o r entire system fo r ca le n d a r yea rs:
„
,
1913.
1912.
1911.
G ro s s earn in gs..................................................... 5 6 ,5 3 3 ,0 1 4 5 6 ,4 3 2 ,0 6 0 55,951 292
O p era tin g expenses a n d ta x e s...................... 3 ,9 6 4 ,8 6 4
3 ,8 1 4 ,4 2 8 3,4 9 7 ,1 6 2

B a l a n c e ...................................
In teres t o n T . H . I . & E . T . b o n d s _____
S in k in g fu n d o n T . H . I . & E . T r . b o n d s .

$ 2 ,5 6 8 ,1 5 0 $2,6 1 7 ,6 3 2 $ 2 ,4 5 4 ,1 3 0
$1,5 9 4 ,7 3 2 $ 1 ,532,673 $1,456,604
150,813
145,730
136,417
27,500
27,500
27,500
3
$ 7 9 5,10 5
—0
$ 3 2 5,00
5 5 ,000

STOC K A N D B O N D S—
D a te.
Interest. O utstanding.
L a st D ie
S t o c k , 3 5 ,000,000 ............... ..................
J-J
35,000 000 D e c .’ 13 1 1 1 %
1st m o r t., 55 ,0 0 0 ,0 0 0 , g o ld l 1903
5 g A -O
5 ,0 0 0 ,0 0 0
Ja n . 1 1033
(5 1 .0 0 0 ), s. f ____________ c * / l n t . at G u aran ty T r . A S. D . C o ., P h lla ., T r .
B onds.— A sin kin g fund p ro v id e s fo r th e p a y m e n t a n n u a lly o f 1 1 -5 % o
b o n d s o u tsta n d in g , in clu d in g th ose in th e sin k in g fu n d . See V. 76, p . 1085
B o n d s m a y bo d raw n fo r sin k in g fu n d a t 102>4 a n d in t. a n d are s u b /. t o cal
a t t h a t p r i c o . See V . 81, p . 264 . 561 8,00 0 h eld In sin k in g fu n d J a n . 1 1914
D iv id en d s.— F irst d iv id e n d o n s t o c k , 1 % , w as paid D eo. 31 1908: In
1 0 0 9 ,2 % ; in 1910, 2 % ; in 1911, 5 % ; in 1912, J u ly , 2 % ; D e c . , 2 % . I n
1913, J u n o , 2 % ; D e c . , 1 M % .
R O A D , A C .— H as co m p le te d 18.75 m iles o f sin gle tra ck an d ow n s 9 -s to ry
o ffic e a n d term in al b u ild in g , train -sh ed s an d 3 fre ig h t d e p o ts ce n tra lly
lo ca te d In In d ia n a p o lis; also real estate o n w h ich sam e are c o n s tr u c te d .
T h is term in a l Is used b y all Interurban roads (13 In nu m ber) e n terin g I n d i­
a n a p o lis. O w ns ele ctrica l an d steam e q u ip m e n t o f 7,0 0 0 k . w . c a p a c it y .
H a s 110 d o u b le -tru ck c lo s e d an d 35 d o u b le -tru ck o p e n c it y cars. A is o
eases th o In d ia n a p o lis S tre e t R y .
E A R N I N G S .— F o r calen d ar years:
Y ea r—
G ross.
N e t.
Charges.
1 9 1 3 ---------$ 3 ,3 2 1 ,0 8 8 $ 1 ,4 4 2 ,1 4 4 $ 1 ,3 7 1 ,2 0 0
1912 ............ 3 ,3 4 3 ,6 4 0 1 ,465,477
1,326,181
1911
3 ,2 4 2 ,7 8 4 1,5 4 8 ,1 0 2
1,292,848

S u rp lu s. D ivid en d . B alance.
$70,044 5 16 2 ,5 0 0 d f $ 91 ,556
139,296 2 0 0 ,0 0 0 d f 6 0 ,704
255 ,254 250 ,0 0 0
5 ,2 5 4

O F F I C E R S .— P re s., R o b t . I . T o d d : V .- P ., E . B . P e c k ; V .- P . , J o h n J .
A p p e l; See. & T r e a s ., W . F . M ilh o lla n d . V . 81, p. 264; V . 82 d 6 2 7 '
V . 83, p . 1411; V . 8 7 . p . 1664; V . 90, p . 1101, 1239; V . 9 4 . p . 2 0 7 ' V 97 '
p . 1426; V . 0 8 , p . 5 2 3 .
*
*

INDIANAPOLIS, IND.

S in k in g fu n d s , su b sid ia ry c o m p a n i e s - . II .
I n t . & s in k . fd . o n d lv is. b d s . o f this co _ _ .

O R G A N I Z A T I O N .— In c o r p o r a te d In In d ia n a on A u g 4 1002 w ith
350 0,00 0
ca p ita l, w h ich w as Increased In Ja n . 1903 t o 3 5 ,0 0 0 ,0 0 0 t o
lease th e In d ia n a p o lis S t. R y . a n d t o p ro v id e term in al facilities fo r all
Interurban ele ctric roads n o w e n terin g o r y e t t o enter IndlanaD olls
F ran ­
chise Is fo r 31 years, u n d e r th e te rm s o f w hich th e c o m p a n y Is t o 'p a v th e
c it y 4 cen ts p er car fo r th e first 11 yea rs, 6 cen ts fo r th e n e x t 10 years and 9
cen ts fo r th e rem ain in g 10 y e a rs. O n D e c. 29 1902 leased fo r 31 years th e
In dia n a p o lis Street R y . V . 7 5 , p . 1301.
y
8 ln e
In teru rban railw ays en ter th e c it y under agreem en ts b y w h ich th e y p a y
3 cen ts per passenger fo r all passengers carried In th e c it y lim its an d an
a d d itio n a l 1 ce n t fo r th ose usin g th e term inal sta tio n . V . 81, p . 264 .

$911,729
$32 5,00 0
55,000

$833,009
$209,136
55,917

(a) In dia n a p o lis Street Ry. — A tr o lle y system .
O R G A N I Z A T I O N .— In co rp o ra te d In In d ia n a M arch 7 1899. A f t e r
a cqu irin g th e C itizen s’ S treet R R . o f In dian ap olis and tho C ity R a ilr o a d
m ade a c o n tra ct w ith th e C ity o f In d ian ap olis agreein g to su rren d er t h e
rights and franchises o f b o th co m p a n ie s and a c c e p t a new fra n ch ise r u n n in g
o n ly th irty -fo u r years. T h e c o n tr a c t also p ro v id e s th a t cash fares are n o t
to e xceed five cen ts, w ith free transfers, and tick e ts are t o be sold at th e ra te
o f six for tw e n ty -fiv e cen ts and tw e n ty -fiv e fo r on e d o lla r.
T h e c o m p a n y also b in d s Itself t o p a y o v e r t o th e c it y (w h ich Is t o e x p e n d
It on th e p u b lic w ork s) th e sum o f $30,000 y e a rly from 1899 t o 192 5, an d
$50,000 yea rly from 1926 t o 1932, Inclu sive, the c o n tr a c t e x p ir in g In 1933 —
see V . 68, p a ge 723 . T h e c it y gets th e right t o p u rch ase th e p r o p e r ty " a t
a n y tim e w ith in tw o years and n o t later than on e y ear b e fo re th e e x p ir a tio n
o f this c o n t r a c t.” n oth in g t o be paid for tho va lu e o f th e fra n ch ise .
Law
sustained M ay 1902. V . 74, p . 936
A s t o th e th ree-cen t fare case, w h ich th e U . S . C o u rt o f A p p e a ls d e c id e d
In fa v o r o f th e C itizen s’ C o . In D e c. 1897, see S u p p lem en t o f N o v . 1 89 8, and
V. 64, p. 842 , 1180; V . 65, p . 51. 181, 1172.
G uarantees the ($400,000) b on d s o f B road R ip p le T r a c tio n C o ., an d ow n s
75 % o f Its s to c k .
Lease.— O n D e c. 29 1902 w as leased t o the In d ia n a p olis T r a c tio n A T e r ­
m inal C o. fo r 31 years. See V . 7 5 , p . 1301. Lease p ro v id e s fo r d iv id e n d o f
1 % Jan . 1 1003, then 3 % In sem i-ann ual Installm ents for first y e a r, 4 % fo r
s e co n d y e a r , 5 ^ fo r th ird y ear an d 6 % after J u ly 1906.
STOCK A N D B O N D S—
D ate.
Interest. O utstanding. M a tu r itv & c
Capital s to c k ( $ 1 0 0 ) ................................
J-J
55,0 0 0 ,0 0 0 J a n . ’ 1 4 , 3 %
Indianap olis S t. R y .
g e n .) 1899
4 g J-J 6 ,0 0 0 ,0 0 0
Jan. 119 3 3
M.
$ 8 ,000,000 ,
g o ld fln t e r e s t at
G uar. T ru st A S afe D e p o s it C o ..
(5 1 ,0 0 0 ), g u a r....................c ’ J
P h lla ., T ru stee.
C itizens' S t. R y . 1st M ..1 1893
5 g M -N
4 ,0 0 0 ,0 0 0 M a y 1 1933
$4,000,000 g . ($ 1 ,0 0 0 ) _c* t fJ
C entral T ru st C o ., N ew Y o r k T ru ste e .
E q u ip , certificates Series " A " 1 1909
5 M -N
110,000 See t e x t .
$200,000 ( $ 1 ,0 0 0 ) ................/F i d e li t y T r . C o ., P h ila d e lp h ia , tru stee.
E q u ip , certificates Series “ B " \ 1011
5 J-J
75,000 See t e x t .
5 1 0 0 .0 0 0 ----- --------------------- /F i d e li t y T ru st C o ., P h ila d elp h ia , trustee.
E q u ip , c e rtifica te s Series “ 0 ” \ 1913
5 M -S
9 5 ,000 S ee text
5 1 0 0 .0 0 0 .....................
(F id e lit y
T r u s t C o ., P h ila d elp h ia , trustoe.
E q u ip c e r tlfs , Series “ D ," \ 1913
6 J -D
100,000 S eo to x t
$ 1 0 0 ,0 0 0 ..................................../
Interest o n C itizen s’ con sols at F o u rtn S treet N a t. B a n k , P h ila d e lp h ia .
T h e m o rtg age o f 1899 w as for $7,0 0 0 ,0 0 0 , b u t $1,0 0 0 ,0 0 0 has been c a n ­
celed . N o b on d s reserved for th e C itizen s’ c o n s o ls. T h o c o m p a n y b in d s
Itself to p a y t o the Indian a T rust C o. a sum an n u ally s u fficie n t to redeem
at m a tu rity th e greater part o f th e entire Issue o f In d ia n a p o lis S treet R y .
bon d s: this p rovision Is gu aran teed b y the In dian ap olis T r a c tio n A T e rm in a l
C o . See V . 76, p. 542; $492,000 held In sinking fu n d J a n . 1 1914. E q u ip ,
ce rtifica te s Series " A ” m atu re $10,000 on M a y 1 a n d N o v . 1 each y ear until
paid In fu ll.
$90,000 h a v e boon re tire d . T h e y c o v e r p urchase o f 54 now
cars.
V . 88, p . 1499. Series “ B ” m atu ro $5,000 o n J a n . 1 and J u ly 1 in
each y ear until p aid in fu ll. S.10,000 lia v o boon re tire d . T h e y c o v e r p u r­
ch ase o f 25 new cars. Series “ C " m atu re 55,000 on M a r . 1 and S e p t. 1 each
y e a r until p a id in fu ll. T h o y c o v o r 25 now cars. $5,0 0 0 h a v o been r o tired .
Series “ D ’ m a tu ro $500 o n Ju n o 1 a n d D e c . 1 ea ch y e a r u n til p a id . C o v e rs
25 now ca rs.
S to c k an d b o n d s listed on P h lla . S to c k E x ch a n g e . V . 69, p . 851.
R O A D .— O perates 116.69 m iles o f tr a c k , w ith 350 ca rs.

9 0 -lb . rail.

O F F I C E R S .— P r e s ., H e n ry J am eson ; V .- P . , I I . S . N e w ; V . - P . , n . P .
H ib b o n ; S e c. & T r e a s ., J o s . A . M c G o w a n ; A s s t. S e c. & T r e a s ., \V. F .
M ilh o lla n d , In d ia n a p o lis.— V . 79, p . 151: V . 8 8 , p . 1499

(2) T erre H aute T raction & L igh t C o.
L eased.— In M arch 1907 was leased t o th e T e rre H a u te In dia n a p o lis A
E astern T r a c . C o. fo r 999 yea rs. T h e la tter c o m p a n y gu aran tees 6 % on
B a l a n c e ................................
541 5 ,1 0 5
3531,729 5478,550
the ou tsta n d in g p re f. s to c k and 2 % on c o m m o n fo r 1)4 yea rs, 3 % for
N o te .— In a d d itio n t o sin k in g fu n d s as sh o w n a b o v e , th re w as p aid as 1 y e a r, 4 % fo r 1 year, and 5 % th ereafter, and $ 1 ,0 0 0 per y ear fo r organ i­
in terest o n b on d s a lre a d y h old b y trustees In sin k in g fu n d w h ich w as zation exp en ses. V . 84, p . 750.
ap p lied t o th e p u rch a se o f a d d itio n a l b o n d s 3 6 0 ,5 4 0 in 1913, $94,255 in
T h e T erre H au te I n d . A E a st. T r a c . ow ns all th e c o m m o n s to c k e x c e p t
1912 a n d 539,185 in 1911, m ak in g to ta l re ce iv e d fo r sin k in g fu n d a c c o u n t d ir e cto r s ’ shares.
b y tru stees $278,853 in 1913, $26 2,48 5 in 1912 a n d $244,018 in 1911.
O R G A N I Z A T I O N .— Is a co n so lid a tio n In 1904 o f the T erre H aute E le c ­
R O A D .— O perates a m odern h igh -sp eed e le ctric ra ilw a y o ver lines tric C o. and the T erre H aute E lectric T r a c tio n C o. P rin cip al railw ay
w hich com p rise a con tin u ou s ro u te fro m and Inclu din g the c it y o f Paris in franchises exp ire 1952; p r in cip a l ligh tin g franchise perpetual; o th e r fra n ­
Illinois through the c it y o f T erre H au te an d tow n s o f B razil, G reen castle, chises a vera ge 30 years fro m Ja n . 1 1906. L eases T erre H a u te A W estern
A m o , C la y ton an d P lainfield, to the c lt y o f In d ia n a p o lis, an d thence through
R a ilw a y C o.
the tow n s of G reen field. K n lg h ts to w n , N ew C astle an d C a m b ridge C ity , to
STOCK A N D B O N D S—
D a te.
Interest.
the c it y of R ic h m o n d In In dian a; also a line ru n n in g sou th fro m In d ia n a p ­
Outstanding.
M a tu r ity ,
____
M -S
olis to M artinsville, I n d .; a line ru n n in g w est from In dian ap olis to D an ville, C o m m o n , $ 2 ,000,000 ($100)
$ 2 ,0 0 0 ,0 0 0
See t e x t .
M -S
I n d .; a line running n orth w e st fro m In d ia n a p o lis t o L a fa y e tte , w ith a P r e f., $1,000,000 ($100) 6 % c u ____
1 ,0 0 0 .0 0 0 M a r T 4 , 3 %
First co n s. m tg
5 Jg M -N
bran ch to C raw ford svllle; a line ru n n in g n o rth w e st fro m In dia n a p o lis d ire ct
_ e . $5,000,0001
.
.
, 1904
3 ,1 7 0 ,0 0 0 M ay 1 1 9 4 4
t o C raw ford svllle and from T erre H a u te a line n o rth to C linton, I n d ., an d a
g o ld ............................... ............../In te r e s t at S ta te S treet T rust C o ., B o s to n .
line sou th to S u lliva n , I n d . A ls o op erates th e c it y lines In In d ia n a p o lis, Terre H aute E lectric 1st m tg.1 1899
5 g J-J
1,500,000 J u ly 1 1920
$1,500,000 gold ($1,000) c 'J I n t . at B o sto n Safe D c p .A T r . C o ., B o s to n .
T erre H a u te and R ic h m o n d . T o ta l m iles In single tra ck : c it y lines, In d i­
a n a p olis, 132.87; T erre H a u te . 2 6 .3 9 ; and R ic h m o n d , 9 .71; to ta l, 168 9 7 '
B o n d s.— T h e U nion T ru st C o. o f In dian ap olis and th e B oston S afe D e p o s it
Interurban lines, t o ta l, 388 .
G rand t o ta l, en tire sy ste m , 556.97 m iles.
A T ru st C o. are Joint trustees o f th e T erre H au te E lectric m tge O f th e
O F F I C E R S .— P r e s ., R o b t . I . T o d d ; V .- P s .,I E .S B . P e c k an d Joh n J .
$5,000,000
co n so ls, $ 1 ,500,000 are reserved t o retire prior liens. T h o new
A p p e l: S ec. & T r e a s ., J os. A . M c G o w a n .
bond s are callab le as a w hole at 110 an d Int. o n a n y ln t. d a te . A sin kin g




M ay . 1914.J

ELECTRIC RAILWAYS

fund o f 1 % o f ou tsta n d in g bo n d s co m m e n ce d M ay 1 1906. $ 2 2 4 ,0 0 0 w as
held b y this fu n d J a n . 1 1914.
T h e U n ite d S ta te s T r u s t C o . o f T erre
H au te an d the S ta te S tre e t T ru st C o .o f B o s to n are trustees o f th is m tg e
See V . 7 8 , p . 2013.
E A R N I N G S .— F o r ca le n d a r ye a rs:
Year—
G ross.
N et,
O th .In c. D ed u c.
S ln k .F d .
B a lan ce.
$ 71 6,31 0 $ 1 ,0 0 0 $ 2 6 5 ,5 6 7 $ 31 ,813 $ 4 1 0 ,0 3 0
1 9 1 3 .- .......... $ 1 ,4 0 8 ,7 6 4
191 2------------- 1,311,772
685,902
1,000
2 61 ,030
3 1 ,5 3 0
394 342
191 1............... 1,224,582
6 39 ,827
1.000
255 ,664
3 0 ,6 1 7
3 5 4 ,5 4 6
R O A D .— E m braces 100.25 m iles o f track In T erre H a u te , In clu d in g line®
from T erre H aute t o W est T erre H a u te , C lin to n , B razil, S u lliva n In d .
an d P a ris, 111. R a lls, 60 t o 80 lb s. 95 cars.
O F F I C E R S .— P r e s ., (v a c a n t ;; ' V .- P ., R o b t . I . T o d d ; S e c. & T r e a s ..
Joseph A . M c G o w a n ; A s s t. S e c. & A s s t. T r e a s ., E . J . D a v is .— V . 84 n
750; V . 9 0 , p . 1555; V . 9 8 . p . 525 .
*
*P
(a) T e r r e H a u t e & W e s t e r n R y . C o .— A n ele ctric r o a d .
L ea sed t o T erre H au te T r a c tio n 6s L ig h t C o . fo r 999 years fro m N o v . 1907.
O R G A N I Z A T I O N .— In c o r p o r a te d In 1907 In Illin o is. R o a d e x te n d s
from th e In d ia n a S tate line near S a n d fo rd , I n d ., t o P a ris, 111., 11 .6 m iles.
B egan op era tion O c t . 25 1907
Is e n tire ly o n p riv a te r ig h t -o f-w a y .
E n tire
c o m . a n d p r e f. s to c k o w n e d b y T erre H a u te I n d . & E astern T r a c . C o.
STOC K A N D B O N D S—
D a te.
Interest. O utstanding.
M a tu r ity .
S to c k c o m m o n $ 2 0 0 ,0 0 0 ____________
________
$20 0 ,0 0 0
....................
P referred $ 1 5 0 ,0 0 0 ..................... ...........
...............
150,000 ..................
First m ortg a g e $ 25 0,00 0 g o ld l 1907
5 g M -N
25 0 ,0 0 0 N o v 1 1937
g u ar p & l ($ 1 ,0 0 0 )____ o * / I n t . a t N ew E n gla n d T r . C o ., B o s t o n . T r u s t.
B on d s.— A re guar. p . & 1. b y e n d orsem en t b y T erre H a u te T r . & L t . C o .
E A R N I N G S .— F o r ca le n d a r y e a r 191 3, g ro s s , $ 5 5 ,0 8 6 ; n o t , a ft e r ta x e s.
$25 ,8 9 9 ; o th e r in c o m e , $500; d e d u ctio n s , $ 1 2 ,5 0 0 ; su rp lu s, $ 1 3 ,8 9 9 . In
1 91 2, g ro s s , $58 ,936 ; n e t , a fte r ta x e s , $ 2 6 ,4 9 5 ; o th e r ln c o m o . $50 0: d e d u c ­
tio n s , $ 1 2 ,5 0 0 ; su rp lu s, $ 1 4 ,4 9 5 .
O F F I C E R S — P re s ., T . F . G ro v e r; V . - P . , F . T . O ’ H a ir: S e c
E J
D a v is; T r e a s ., J o h n E , L a m b .— V . 9 0 , p . 1555.
(3) In d ia n a p olis & N o rth w estern T ra ctio n C o .— A n ele ctrlo r o a d .
Lease.— In A p ril 1907 w as leased t o th e T erre H a u te In d ia n a p o lis &
Eastern T ra ctio n fo r 999 years. T h e la tte r c o m p a n y w ill p a y th e Interest
on th e b o n d s; also \ H % q u a r. or 5 % per a n n u m o n th e $ 4 5 0 ,0 0 0 pref.
s to ck an d $500 per y ea r fo r o rg a n iz a tio n . V . 8 4 . p 869 .
P
t
o o mm° n 8,t0£1
I i* e x c e p t d ire cto rs ’ shares, Is o w n e d b y the
T erre H a u te In d ia n a p o lis & E a stern T r a c tio n .
•— O rganized In 1902 In In d ia n a . O perates a m odern
n igh -speed ln teru rb an ra ilro a d , s tan d ard -gau ge, lo ca te d u p o n p riv a te right
?l
eu le ld e o f th e c it y c o rp o ra te lim its. E x te n d s n orth w esterly from
th e c it y o f In d ia n a p olis th rou gh th e cities o f L e b a n o n and F ra n k fo rt to the
c 't y o f L a fa y e tte , w ith a branch fro m L e b a n o n to C raw ford svllle, each o f
w hich cities Is th e c o u n ty seat o f Its re sp ective c o u n t y .
H as tra ck a g e
rights to th e business centres o f In d ia n a p o lis an d L a fa y e tte .
T h e fra n ch ises run fo r 31 t o 50 years fro m 1907 a n d p e r m it th e c a r r y in g
o f fre ig h t, exp ress an d m a ll, as w ell as passengers.
STOCK A N D BO N DS—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r it y .
C om m on , $2 ,5 5 0 ,0 0 0 .......................................................... $ 2 ,550,000
P r e f. ($ 1 ,0 0 0 ,0 0 0 ) 5 % c u m . .............
Q -J
4 50 ,000
See t e x t ’
1st m tg o ., $3,0 0 0 ,0 0 0 , g o ld ] 1903
5 g M -S
2 ,4 7 0 ,0 0 0 M ar. 1 1923
( $ 1 ,0 0 0 ) ................................c * J I n t. at K n ick e rb o ck e r T r . C o .. N . Y . , T r u s t ,
B o n d s .— T h e rem ain in g $53 0,00 0 fo r Im p rovem en ts. A c .,a t 5 0 % a n d 7 5 %
o l c o s t. N o s. f .. bu t bon d s can be called o n a n y ln t.d a te a t 110 a n d ln t.
E A R N I N G S .— F o r y e a r e n d in g D e c . 31 191 3, g ro ss, $44 5,97 2; n e t , a fte r
ta x e s , $ 1 6 3 ,1 9 8 ; o th e r ln c o m o , $500; b o n d In terest, $12 3,50 0; su rplu s.
$ 4 0 ,1 0 8 . In 1912, g ro ss, $4 4 1 ,4 6 1 ; n e t , a fto r ta x e s , $1 4 9 ,9 0 3 ; o th e r
In co m e , $500; b o n d In terest, $ 12 3,50 0; su rp lu s, $ 2 6 ,9 0 3 .
— E m braces 92.25 m iles o f tra ck betw een I n d ia n a p o lis , Zlon sv in e, L e b a n o n , F ra n k fort an d L a fa y e tte . Incl. a bra n ch fro m L e b a n o n to
C raw ford svllle. S ta n d a rd gauge; 7 0 -lb . T -r a ll. O perates 20 v e s tib u le
p 2 9 5 'V j 2 p ^ O *
P o w e r h ° use a n d c a r b a rn are a t L e b a n o n .
V . 88,
8.

O F F I C E R S .— P r e s ., R o b t . I . T o d d ; V .- P s ., C h a s . M u r d o c k a n d H a rry
N e w ; S e c . & T r e a s ., J o s . A . M c O o w a n .

(4 ) In d ia n a p olis & M artin sville R a p id T ran sit C o .
A n e lectrlo r o a d .
Leased.— In A p ril 1907 w as leased t o th e T erre H a u te In d ia n a p o lis &
E a st. T r a c . fo r 999 years. T h e la tte r c o . w ill p a y th e ln t. o n th e b o n d s; also
$500 per y ea r fo r org a n iza tio n
V . 84, p . 749 . T h e T erre H a u te I n d . &
E a s t, ow n s en tire Issue o f s to c k e x c e p t d ir e cto r s ’ shares.

O R G A N I Z A T I O N .— In co rp o ra te d In In d ia n a o n A p ril 24 190 1. O p erates
on p riv a te rig h t o f w a y e x c e p t In In co rp o ra te d to w n s.
STO C K A N D B O N D S—
D a te .
In te re s t. O u ts ta n d in g .
M a t u r lt v
S to c k , $750,000 ( $ 1 0 0 ) .....................................................
8750 0 0 0
M a t u r it y .
1st m tg e ., $750,000 ($1,000) f 1902
5 g J-J
75 0 ,0 0 0 J a n * ." l 'i 9 3 2
g o ld ..........
c* & r .]U n lo n T ru st C o. and S e cu rity T r . C o . o f I n ­
,
, , , .......„
, J d lan ap olis. T ru st. I n t . a t S e c. T r . C o ., I n d .
B o n d s .— N o sinking fund b u t bon d s are s u b je c t t o call a fte r 10 v ear* at
105 and Interest. See V . 78, p . 1223.
E A R N I N G S .— F o r ca lo n d a r year 1913, gross, $ 1 6 2 ,4 6 3 ; no t, a ft o r taxes
$52 ,114 ; o th e r in c o m e , $500; b o n d In terest, $37 ,500 ; su rplu s, $ 15 ,114
In
191 2, g ross, $ 17 3,13 4; n e t, a fte r ta x e s , $62 ,3 4 1 ; o th e r ln c o m o , $500: b o n d
In terest, $37 ,5 0 0 ; b a la n ce , $ 2 5 ,3 4 1 .
R O A D .— E m braces 30 m iles o f track fro m In dian ap olis t o M artin sville
c o m p le te d In M ay 1903. 70-Ib. rails: sta n d a rd g a u g e .
O F F I C E R S .— P re s ., R o b t . I . T o d d ; V .- P s ., H a rry 8 . N e w , C h a s . M u r ­
d o c k and Joh n J . A p p e l; S e c .. E . B . P e c k ; T r e a s ., J o s . A . M c G o w a n .
V . 84, p . 740.
(5) In d ia n a p olis C ra w fo rd s v ille & D an ville E lec. R y .
Lease.— O n M a y 1 1912 w as leased t o th e T erre H a u te In d ia n a p o lis &
E a stern T r a c . fo r 999 years. U nder the lease th e la tte r c o m p a n y guars
p . & I. on 1st M . b on d s, 5 % d iv s . o n $20 0,00 0 p re f. s to c k , and sem l-ann uai
d lv s . on c o m ., v iz .: V i% fro m N o v . 30 1912 t o M ay 31 1914; 1 % N o v 1914
t o M ay 1916; 1 H % N o v . 1916 t o M a y 1918 an d 2 % th ereafter.
O R G A N I Z A T I O N .— I n c o r p . In In d ia n a o n A p r . 20 1912 as su cce sso r
t o th e In d ian ap olis C ra w ford sv. & W e s t. T r a o ., so ld a t fo re c lo s u r e .
B u ilt
en tirely o n p riv a te r ig h t-o f-w a y .
In cities and to w n s has 5 0 -y e a r fr a n ­
chises w hich perm it th e ca rry in g o f fre ig h t, express and m all m a tte r.
S T O C K A N D B O N D S .—
D ate.
In te re s t.
O u ts ta n d in g .
M a t u r it y
C om m on $ 40 0,00 0 ($ 1 0 0 )......................
M -N
$ 40 0,00 0
S ee te x t
P ref $40 0,00 0 5 % cu m ( $ 1 0 0 ) ..........
J -D
20 0 ,0 0 0
S ee t e x t
F irst m tg e $ 2 ,5 0 0 ,0 0 0 g o ld ) 1912
5 g M -N
1 ,0 0 0 ,0 0 0 M a y 1 1 9 5 3
($1,000) g u ar p & 1 ------ c & r /I n t . at G irard T ru st C o ., P h lla ., tru ste e .
B on d s.— O f rem ain in g 1st m tg e . b o n d s, $1 ,0 0 0 ,0 0 0 are fo r exte n sio n s
and $ 50 0,00 0 to b e issued o n ly und er certa in co n d itio n s . SubJ. to call as
a w h ole b u t n o t In part a t 102 M an d in t. on a n y Int. d a y . S k . fd . o f $9 000
per ann . on Initial $1,00 0 ,0 0 0 b o n d s o u t c o m m e n cin g M ch . 1 1913. W h en
add I b on d s arc Issued fu n d shall b e Increased b y such a m t. as will retire
2-3 o f such a d d I b o n d s issu ed. $9,000 held a liv e in sin k in g fu n d .
E A R N I N G S .— F o r ca le n d a r y e a r 1913, g ro ss, $21 4,70 8; n o t, a fte r taxes
$50 ,097 ; o th e r in c o m e , $500; b o n d in te re st, $ 50 ,000 ; sin k in g f u n d , $ 9 ,0 0 0 '
d e fic it , $ 8 ,4 0 3 .
R O A D .— O perates 4 5 .1 0 m iles o f ro a d betw een In d ia n a p o lis an d C raw ­
fo rd s v llle . S ta n d a rd g a u g e . 70 and 8 5 -lb . T rails. A n e x te n s io n fro m
C raw ford svllle to w estern b o u n d a r y o f In d ian a east o f C ity o f D a n v ille
I n d ., Is p r o p o s e d .
*
O F F I C E R S .— P re s ., Jo h n J . A p p e l; V . - P . , R o b e r t I . T o d d ; S e c. & T r e a s .
J os. A . M c G o w a n ; G en , M g r ., R o b t . I . T o d d . V . 9 4 , p . 1 4 4 9 ,1 5 6 5 .1 0 9 5 .

IN D I A N A P O L IS & C IN C IN N A T I T R A C T IO N CO .
O R G A N I Z A T I O N .— In c o r p o r a te d In In d ia n a o n N o v . 17 1910 as s u cce s­
sor t o th e o ld In d ian ap olis & C incinnati T ra o . C o ., so ld a t fo re clo su re N o v . 10
1910.
V . 9 1 , p . 1385, 1025.
In 1911 a cq u ired th e In d ian ap olis & S o u th ea stern T r a o . C o . (all o f w h o s e
o o m . and $ 30 ,000 1st M . b o n d s th e o ld In d ia n a p o lis & C in cin n ati T r a o . C o .
h ad ow n ed a n d to w h ich c o m p a n y th e I n d . & Sou th ea stern w as leased) and




61

ca n ce le d its c o m . s t o c k . V . 92, p . 8 8 1 .9 5 6 .
P r iv a te rig h t o f w ay e x c e p t In
cities an d to w n s. C o u n ty fra n ch ises p e rp e tu a l. F ra n ch ises In cities and
tojy nu ? r<; ror„® ° y ears (th e o ld e st be in g d a te d 190 4), e x c e p t In In d ia n a p olis,
w hich Is fo r 34 years fro m 1900. H as c o n tr a c t w ith In d ia n a p o lis T ra ctio n
* £ exrv,'J?aJ * fi?r r ^ y e a r s allo w in g Its cars t o enter In dia n a p o lis.
n a w to n X i
J - * 9 ' k t e b t & P o w e r C o . w as in c o rp o ra te d w ith n om i­
nal ($900) c a p ita l s t o c k In th e in terest o f th e tr a c tio n c o . t o furnish ligh t
A Pi ? 'l Cr ,9°, P i coT
rmP un lt,es a lo n g th e c o m p a n y ’s r o u te ,
stn^ir rX o V to in
} ' &,,C - E le c tr ic R R . w as in c o rp . w ith $ 10 ,000 c a p ita l
m « drJjh tra ctio n c o s lines fro m R u s h v ille t o C in cin n a ti b y w ay
C in r in n a r iH a r r ^ o n
T r a c ^ ^ la te r b e m ° W d W lth th e
narrow vri L \ ? 1rnaHq ^ e d J<ontr»°1 of\ th e C in c in n a ti & W e s tw o o d R R . , a
c f f i S
8tn
t e n u J !f fro m W e s t w o o d , o n th e b o u n d a r y lin e o f
beHof t h A V h n n fi? ,hXrQ. w ith in th e c it y 5 1-3 m ile s, this be in g d o n e In the
o reach r h i
o f C in c in n a ti t o p e rm it th e ln teru rb an
0 rea cn t n e n ea rt o f t h a t c it y w ill g o th r o u g h . V . 9 6 , p . 1297.
STOCK AN D BO N DS—
D a te.
In ten
O utstanding.
M a tu r ity .
C o m m o n $ 2 ,0 0 0 ,0 0 0 .
*
$ 2 ,0 0 0 ,0 0 0 .................... ..
Pref $1 ,0 0 0 ,0 0 0 (see te x t) I I I I " "
" j '- j "
1,00 0 ,0 0 0 In 1 9 1 2 ,1 %
^OOOlHgold
W ’-T m o
5 J -J
1 ,4 0 0 ,0 0 0 J u ly 1 1940
1 &°S°E M ^tk sa n o i i o 7 i T S n ^ In te re s t ai C en tral T r u s t C o ., N . Y „ T r u s te e .

E

“ vK

oo\

hos

r e° «

a g is s i

s«fcsn«f“Sol*
I" “ *4$b8?-&TY'$»
M $500 000 g ($1,000) s f - _ J I n t . a t A m e r . T r . & S a v . B k ., C h ic a g o , T r u s .
Jnm im

& ? ln- T r ? 013 e n title d t o n o n -c u m . d lv s . o f 2 % u n til
91TnHth i “ J n 2 'eas,nJr 1 % y e a rly t o J u ly 1 1913; th e re a fte r 5 % p er

d iv id e n d d a te . S « V . W p ^ l W B ? m a “ e “ * 105 “ d aCCrUCd dlV> ° n a n y
B o n d s.— I n d . & CIn. T r a o . 1st M . Is d iv id e d in to 3 cla sses, A , B a n d C.
C lass B . $ 20 0,00 0, n o n e issu e d , a n d C lass O .
$3,350,000 ( o f w h ich $100,000 o u t s t ’g ) , reserved fo r e x te n s ., ir a p r o v e m ’ts .
E n tire series o f b o n d s o f ea ch class is s u b je c t t o ca ll o n o r a fte r J u ly 1
n r 1M.pt«i10n n ? IXJ,inTt ’ J A ? t o p r io rity o f d iffe r e n t series, see V . 9 2 , p . 956 .
O r th e $ 1 ,0 0 0 ,0 0 0 I n d . & 8 . E . b o n d s, $45 2 ,0 0 0 is reserved fo r p rio r liens.
T a y I F e,? ubj c c t ,t o 0311011 aQy in t . d a t e a t 105 a n d in t. O f t h e l n d . S h e lb y .
“
E . b o n d s, th e en tire issue m a y b e c a lle d o n a n y in t . d a te a t 110. A
sinking fu n d o n these b o n d s o f $ 10 ,000 p e r a n n u m b egan Jan . 1 1908. fo r
w h ich b o n d s ca n b e called a t 105, b egin n in g w ith lo w e st n u m b e r. $4 8 ,0 0 0
h a v e b een retired .
D ividends.— O n p re f. p a id In 1911, 1 J * % ; in 191 2, 1 % .
E A R N I N G S — F o r ca le n d a r y ear 1913, g ro s s , $44 3,91 3; n e t, $ 1 6 3 ,3 6 7 ;
,3A 4 U 1,ntel? s t,’ n,a,xos a n d d iv id e n d s o n I . & S . E . p r e f .,
$168,537, d o lic it , $ 3 ,8 2 3 . In 1912, gross, $ 45 4,73 1; n e t, $ 18 3,72 7; o th e r
in c o m e , $2,920; in terest, taxes a n d d iv id e n d s o n I . & s . E . p r e f $165 5 9 7 d iv id e n d s o n I. & O . T r . , p r e f., $10 ,0 5 0 ; s u rp lu s, $ 1 1 ,0 0 1 .
*
’
*
R O A D .— O perates 58 m iles o f tra ck fro m In d ia n a p o lis v ia R u s h v ille t o
C on n ersvllle an d 49 m iles o f tra ck fro m In d ia n a p o lis v ia S h e lb y v llle t o
C re cn sb u rg. T o ta l 105 m iles o f tr a c k . A n e x te n s io n fro m G reen sburg t o
H arrison , O ., is p r o p o s e d . 60 a n d 7 0 -lb . T rails. 20 passenger cars an d
4 express cars.
O F F I C E R S .— P re s ., C has. L . H e n r y , I n d ia n a p o lis ; V .- P ., T . F . R o s e ,
M uncie: S e o ., Jo h n J . A p p e l, In d ia n a p o lis; T r e a s ., J o h n F . W ild , In d ia n a p ^11S96 ° p f l l<297ndianaPOdS'— ^
V " 91 ’ D‘ 1 02 5’ 1385: V ‘ 9 2 ’ p ’ 322 , 881 ’ 9 5 8 :

IRON WOOD, MICH.
IRONWOOD & BESSEMER RAILW AY & LIGHT CO.
. u ° ? Gi £ N !;Z£ T I O r i : — ^Incorporated in W isc o n s in . Is a c o n s o lid a tio n o f
tire A sh lan d P o w e r C o . an d th e G o g e b ic & Ir o n C o u n tie s R y . & L t . C o .
C o n tr o ls th o e le ctric ligh t, p o w e r a n d stre e t r a ilw a y business in A s h la n d ,
I r o n w o o d , B essem er, H u rle y a n d G iles; th e gas business In A s h la n d , an d
th e w ater s u p p ly com p a n ie s in Ir o n w o o d a n d H u rle y . A ls o ow n s s o m e o f
th e m o s t v a lu a b le n atu ral w a te r p ow ers in W isc o n s in . T h e re are th ree
w a te r-p o w e r sta tio n s o p e ra te d b y th o c o m p a n y ; th e la st b e in g p u t in
o p e r a tio n in F e b . 191 4. F ranchises in I r o n w o o d a n d B essem er e xp ire in
I n .W is c o n s in o p e ra te s u n d er in d e te rm in a te fra n ch ise.
W isco n sin R R . C o m m , has a u tli. th e Issue o f $1 ,3 4 4 ,0 0 0 1st m t g e . b o n d s ,
o f w h ich $ 1 ,2 5 2 ,0 0 0 are o u ts ta n d in g .
In J a n . 1913 increased its a u th . p re f. s to c k fr o m $20 0,00 0 t o $ 4 0 0 ,0 0 0 ,
C o S ™
D00D
0 (fE 0 C .. ^
InteTeSt- ° 1 f 0a0n 0 0 T
M atUrUVP re f $40 0,00 0 ($100)i 6 % c u m .............
Q -M
200|000 S ee’ t e x V '
5 F -A
1 ,2 5 2 ,0 0 0 F e b . 1 1936
First m tg e $ 2 ,500,000 g o ld l 1911
A nr A ^ / ui ldJ,5 ^ " ^ p - e p t h n t . a t A m e r ic a n T r u s t C o ., B o s to n , T ru stee”
A sh L t , P & S t R y 1st m t g e f 1909
5 g J -J
504 .000 Jan
1939
$ 1 ,000,000
g
($1,000) . j I n t. a t C h icago S a v . B k . & T r . C o .. T ru stee
c & r .c p t l
(L e v e r e tt T h o m p s o n o f C h ic., c o -T r u s te e .)
, B o n d s.—-R e m a in in g Ir o n w o o d & Bessem er 1st M . bo n d s m a y bo Issued
fo r 7 o % o f c o s t o f new p r o p e r ty un d er ce rta in r e strictio n s. T h e y are s u b ­
je c t t o call o n a n y Int. d a te afte r F e b . 1 1915 a t 104 a n d Int. fo r sin kin g f u n d .
S in k in g fu n d p ro v id e s fo r retirem en t o f 1 % o f o u ts ta n d in g b o n d s begin n in g
w ith y e a r e n din g F e b . 1 1 9 1 6 . A sh lan d L t . , P o w . & S t. R y . b o n d s are su b ?
Ject t o ca ll o n a n y in t . d a y a t 104 in an d a fte r 1914. S in kin g fu n d o f 1 %
o f b o n d s o u t b egan in 1912.
'
D ivid en d s.— 6 % p er a n n u m Is b e in g p a id o n p re fe rre d . ■
R O A D .— O perates 7 H m iles o f line In A s h la n d a n d also a b o u t 7 M m iles
in ir o n w o o d , H u rle y a n d G ile; a lo ca l ro a d in B essem er a n d an ln teru rb an
lin o o f a b o u t 7 m iles betw e e n Ir o n w o o d a n d B e sse m e r, w h ich w as co m p le te d
III J u ly 1913.
1 . O F F I C E R S .- P r e s . , M . M . R e id , A sh la n d ; S e c ., G e o . F . M e r rill, A s h ­

la n d ; T r e a s .. W . L o u is W illia m s , B o s t o n .— V . 9 3 , p . 1260; V . 9 6 , p . 63.

ISHPEMINQ, MIOH.
MARQUETTE COUNTY OAS & ELECTRIC CO.—A trolley road.
In co rp o ra te d In M aine o n N o v . 19 1906 as reorf ^ l n s n r o t th e M arqu ette C o u n ty G as L ig h t & T r a c tio n C o ., so ld un d er
fS K S T S d

I .i m -m f c :

D” '

“ n ‘1 eleotrt°

pC avs

<"“ ' » « > ' » » * •

,nistw“ “ -

$200,000 o f d e b s, fo rm e rly o u tsta n d in g w ere a il ca n ce le d a n d a new Issue
o f p re f. s to c k w as m ad e.
nA X ? G
9
aT "
D a te‘
In terest. O utstanding.
M a tu r ity .
C o m m o n $750,000 ($ 1 0 0 )____ ______
________
$750,000 I n 1913 3 %
P ref 6 % cu m $250,000 ($ 1 0 0 ).......................... . . . Z
125,000 I n 1913 6 %
F1« t m tg e $ 1 , 0 0 0 ,0 0 0 g o ld ] 1910
6 J -J
361 ,000 Jan 1 19^0
( $ 1 , 0 0 0 ) .........................- c * t f / I n t . a t F irst T r . & S a v . B k ., C h ic ., T ru s te e .
B o n d s.— .F irst m tg e . b o n d s are reserved u n d e r ce rta in re strictio n s tor
lm p r ’ ts an d e x te n s. a t 8 5 % o f c o s t th e r e o f. S in k in g fu n d o f 1 % o f bon d J
o u t fro m 1913 t o 1915, In cl.. fro m 1916 t o 1929, ln c l., 2 % y e a r ly . R e d a t
105 an d ln t. o n a n y in t . d a y . V . 91. p . 1 7 6 7 .
1
« e a . at
E A R N I N G S .— F o r ca le n d a r y e a r 1913, g r o s s , $ 15 4,10 1; n e t , $53 ,172
ch a rg e s, $ 2 0 536; su rplu s. $ 3 2 ,6 3 6 . In 1912, g r o s s . $ 12 8,30 3; n e t . $44 757
c h a rg e s , $31 ,2 4 1 ; su rp lu s, $ 1 3 ,5 1 6 .
*
, / 0 '.
R O A D .— O perates 4.M m iles o f tra ck In a n d b e tw e e n N egau n ee and
Ishpem lnfc.
O F F I C E R S .— P r e s ., L . E . M y e r s ;
V .- P r e s .. M . J . In su ll; G en
M g r . A . C . H a rrin g to n , Ish p em in g; S e c. & T r e a s ., W . H . P . W e s to n . 1 1 1 7
M o n a d n o ck B ld g .. C h ic a g o .— V . 91, p . 1767; V . 9 4 , p . 279 3 5 1

ITHACA, N. Y .
ITHACA STREET RAILWAY.
Receiver thip^— O n J a n . 6 1 9 1 2 ,in an a c tio n b r o u g h t b y K n ic k e r b o c k e r T r .
C o . (n o w th e C o lu m b la -K n ic k e r b o c k e r T r . C o .) u n d er th e 1st c o n s o l m fe e
J o h n W . D w ig h t a n d R o g e r B . W illia m s J r ., w ere a p p o ln te d r“ elv“ rs t o r
th e I th a c a S t. I t y . V . 9 4 , p . 123. I n t . d u e J u ly l 1011 o n c o n s o l, m t g e .'

[Vol. XCVIII.

ELECTRIC RAILWAYS

r>2

L in d e fa u lt. C o u p o n s on all o th e r issues h a v e be o n paid to d a te . A
b o n d h o ld e rs ’ c o m m itte e has beon fo rm e d w ith El. \V. F itz , C h a ir m a n ,
P a w tu c k e t, It. I. T h e N . Y . A u b u rn & L a nsing R R . , an allied ste a m r o a d .
Is also in the han ds o f the sam e rece iv e rs. A plan o f re o r g a n iz a tio n , draw n
up b y th e c o m m it t e e , d a ted O c t . 2 1913. p ro v id e s th a t the su cce sso r c o m ­
p a n y , w h ich w o u ld ta k e o v e r tho A u b u rn C o . a fte r fo re clo su re sa le, sh all
lease th e su ccessor o f th o stre e t e a ilw a y c o . a n d shall b o a u tn . to issue
n ew secu rities as follow s:
..
....
(1) SI .450,000 cu m . pref. s to ck In exch a n g e , S fo r S, for su ch or tne $4 75.­
000 co n s o l. 5s o f the Ith a ca S t. R.v. an d the 5975.000 1st
b OTds o f th e
N . V A u burn & L ansing as shall assent t o th e plan .
(2) 51.000 000 c o m .
•tock to b e s o ld , alon g w ith J 1 ,000,000 npw b o n d s. (3) 54.000,000 1st & ref.
8 % b on d s, o f w hich § 1 ,0 0 0 ,0 0 0 w o u ld b e s o ld fo rth w ith (to take up receivers
c ertifica tes, c o v e r c o s t o f reo rg a n iza tio n , A c . ) ; $31 0,00 0 w ou ld b e reservedto retire at m a tu rity 5275,000 u n d e rlyin g b o n d s o* Ith a ca S t. K y . and 52 ,$690 000 w ou ld b e h eld for futu re exten sion s an d a d d itio n s . See v . 90, p .1 0 -2
V . 9 7 . p . 1115.
O R G A N I Z A T I O N .— Chartered N o v . 18 1884. In Ju n e 1908 acqu ired
the s to c k s of the C a yu ga L ake E le c. R y . an d Ith a ca & C a yu ga H eigh ts R y .,
w hich roads w ere form erly leased.
In Jun e 1907 the N ew \ ork R a d ro a d
C om m ission ers a u th orized a new m o rtg a g e fo r $750,000 as b e lo w .
F r a n c e s e s gran ted M ay 13 1908 are fo r 99 years and c o v e r d o u b le tracked
p ortion of r oa d . O ther parts o f system p riv a te rig h t o f w ay or fra n ch ises
p erp etu al.
ST O C K A N D B O N D S —
D ate.
Interest. O utstanding.
M a tu rity
S to ck , $325,000 (par $ 1 0 0 )..............................................
$32 5,00 0
190 8.4 /r
C on sol, m o rtg a g e , $750,000,1 1907
5 g J-J
4 7 5 .0 0 0 July 1 1 9 5 7
g o l d _______________ _ . c * - t f f l n t . a t K n ic k e r b o c k e r T ru st C o .. N . l ..T r u s
First m ortg a ge, $ 1 7 5 ,0 0 0 .. t f /
1892
6 J-J
175,000 July 1 19- 2
l i n t p a y a b le at Farm ers L. & I r . C o .. N . Y .
S econ d m ortg a g e, $ 7 5 ,0 0 0 ._ t f
1894
6 J-J
''5 ,0 0 0 J u ly 1 1 9 - C a yuga I.ake El 1st M g u . _ . t f
1894
6 J -D
25,000 Jun e 1 1922
B o n d s.— N o m ore b on d s o f 1907 can be Issued e x c e p t to retire prior liens.
T h ey are s u b je c t to call at 107. N o sin k in g fu n d . T h e y are g u a r ,, p . 4 1..
b y N . Y . A u b u rn & L ansing R R .
R O A D .— O w ns and op erates 8.29 miles o f tra ck .
Ralls 8 0 -lb . V . 94, p
123; V . 9 5 , p . 1207-i V. 9 6 . p . 1021; V . 07. p . 950 , 1115.

STOC K A N D B O N D S—
D a le.
Interest. O utstanding.
M a tu r ity .
$25 0,00 0 .......................
S to c k , $250,000 (par 5 5 0 )............................................
1st m ortgage $300,000 g o ld ! 1893
6 g J-J
300,000 Jan 2 192J
( 5 1 , 0 0 0 ) _________________c* j In t. at G u aran ty T ru s t C o ., N . Y . , T ru stee.
Current liabilities June 30 1913 ................................
1 ,058,987 ____________
E A R N I N G S .— F o r y ear ending Ju n o 30 1013, g ro ss, 523 9 ,0 7 0 ; n et
$ 18 ,877 ; o th e r In com e, $13 ,052 : c h a rg e s, $ 99 ,816 ; d e fic it , $ 6 7 ,8 8 7 .
R O A D .— O w ns 26.545 miles o f tra ck . 55 cars, 2 sw eepers.
O F F I C E R S .— P r e s ., A . N . B ro a d h e a d ; S ec. an d T re a s ., S. B. B roa d
head : G en. M g r., G . E . M a ltb y , all o f J a m e sto w n .
C H A U T A U Q U A T R A C T IO N C O .— A trolley ro a d .
O R G A N I Z A T I O N .— In c o r p o r a te d In N ew Y o r k on M arch 7 1903.
c o n tro lle d b y th e sam e Interests as the Ja m e sto w n S treet R y .
Strike.— See rem arks u nd er Ja m e sto w n S treet R a ilw a y .
STOCK A N D B O N D S—
D a te.
Interest. Outstanding.
M a tu r ity .
S t o c k , $300,000 ($ 1 0 0 )............................- - - - - - - $500,000 ------- -----------1st m o rtg a g e , $ 6 0 0 ,0 0 0 , g o ld l
1904 5 g A -O
600,000 A p r. 1 1934
( j l , 0 0 0 ) .................................. c j I n t . at T itle G uar. & T r. C o ., N . Y . . T ru stee.
— - — ...
568,733 -------------------Current liabilities Jun e 30 1913
B on ds.— N o sin kin g fu n d an d are n o t s u b je c t t o call.
E A R N I N G S — F o r y e a r en din g Ju n e 30 1913, g r o s s , $178 341; n et
$ 69 ,923 ; o th e r In co m e , $ 3 ,1 3 2 ; c h a rg e s. $99 ,2 7 0 , d e fic it , $ 2 6 ,2 1 5 .
H O A D .— O perates 26.73 m iles o f track fro m Lak. w o o d , w here c o n n e c ­
tion Is m ade w ith the Ja m e sto w n St. R y .. to M a y v llle , th ere co n n eotln g
w ith the P en n sylva n ia R R ., and t o W e stfie ld , N . V ..c o n n e c t in g there w ith
the L a ke Shore & M ich. S o . and the N . Y . C h icago & S t. L ou is R y
and
from W esttleld to B a rce lo n a -o n -la k e E rie. S tan d ard gauge, 8 0 -lb l rail.
O F F I C E R S .— P re s ., A . N B road h ead; V .- P . . W m . B ro a d h e a d ; I r e a s
S. B. B road h ead; S e c ., W . R . R e y n o ld s; M g r., G eo. E . M a ltb y , S u p t
A u stin A . H a rv e y .

J E R S E Y C I T Y , N . J.
P U B L IC S E R V IC E C O R P O R A T IO N .
See statem en t an d m aps under "N e w a r k , N . J .”

JO H N S T O W N , PA.
J A C K S O N , M IS S .
JA C K S O N L IG H T A N D T R A C T IO N CO.
C on trolled b y A m erica n P u b lic U tilities C o.
O R G A N I Z A T I O N .— I n c o r p . In M iss, in M ay 1912 t o c o m b in e lo ca l g a s
electric ligh t and pow er and street ra ilw a y pro p e rtie s.
H as c o n tr a c t for
c it y electric ligh tin g running to A p ril 1923. F ran ch ises ex te n d b e y o n d
A p ril 1 1922.
STOCK AN D BO N DS—
D ate.
Interest.
O utstanding.
M a tu rity
C om m on $ 1 ,0 0 0 ,0 0 0 (5 1 0 0 )..........................................
$1,0 0 0 ,0 0 0 ......................
P ref. 6 % cu m . $ 6 0 0 ,0 0 0 ..........
520.000 - - - - - - - - - ­
First m tge $ 2 , 5 0 0 ,0 0 0 g o ld ! 1912
5 A -O .................. 9 2 8 ,8 0 0 A p r 1 1922
( $ 1 0 0 ,5 5 0 0 ,5 1 ,0 0 0 ) s f .c * t ff C h lc . S av in gs B ank & I r . C o ., T ru stee
B on ds.— R em a in in g $ 1 ,5 5 2 ,2 0 0 b o n d s are fo r Im p ts., a d d ’ns and exten s.
u n d er certa in r es triction s . S u b j. to call o n a n y in t. d a te on or a lter
A pril 1 1914 at 105 and Int. S k . fd . o f 2 % o f b o n d s o u t begin s F e b . 1 1914.
$ 19 ,800 retired Ja n . 31 1914. I n t . In C h ic , an d a t N . Y . o ffic e o f P . W .
B r o o k s & C o . S ee V . 9 4 , p . 1566.
E A R N I N G S .— F or 12 m o s . e n d . J a n . 31 1914, g ro ss, $ 2 9 0 ,0 7 2 ; net,
$ 9 1 ,5 3 7 .
R O A D — O w ns 14 m iles o f tr a c k . S tan d ard g a u g e .
18 pass. ca rs.
— V . 9 4 , p . 1566; Y . 9 8 , p . 1244.

JACKSON, TE N N .
J A C K S O N R A I L W A Y & L IG H T CO.
O R G A N I Z A T I O N .— In c o r p o r a te d In T en nessee In July 1906, and Is s u c­
cessor to the Jackson & Sub u rban S treet R a ilro a d C o. F ran ch ise expires
In 1937.
A lso ow ns a park o f 15 acres. D oes ligh tin g and pow er business
In a d d ition to street railw ay.
STOCK A N D BO N DS—
D ate.
Interest. O utstanding.
M a tu rity .
C o m m o n $600,000 (5 1 0 0 )............................................
$450 040 ...................
P r e f 0 % c u m __________________ __
100,000 — -----------1st m tge $600,000- ("$ 1,000) 1 1006
5 g J-J
494 ,0 0 0 Jan 1 1937
No s f
R ed eem m 105 e iC o lu m b la T ru st C o ., L o u isville . T rustee
Stock and Bonds.— $150,000 c o m m o n a n d $6,0 0 0 b o n d s are h o ld in troas y .
E A R N I N G S .— F or ca le n d a r y e a r 1913, g ro s s , $10 9 ,5 7 8 ; n o t, $ 52 ,482 ;
fix e d c h a rg es, $ 24 ,882 ; su rplu s, $27 ,6 0 0 .
R O A D .— O perates 6.2 m iles o f tra ck . 6 0 -lb . rail.
O F F I C E R S .— P res., H arry W elssln ger; V .- P . and G en. M g r,, S . S . B u sh;
S e c . and T r e a s ,, G eo. VV. L ew is, all o f L ou isville, K y .— V . 83, p . 05

J A C K S O N V IL L E , F L A .
J A C K S O N V IL L E T R A C T IO N C O — T r o lle y .
O R G A N I Z A T I O N .— Is a rc-ln c o r p o r a tlo n In M ass. In M ch . 1911 (V . 92,
p. 881) o f the J a ck s o n v ille E lec. C o ., w hich w as a c o n s o lid a tio n o f th e J a ck ­
s on v ille S t. R y . C o ., the Main S t. R R . C o. and th e J a ck s o n v ille E leo. L t . C o.
S tock o f old c o m p a n y was e x c h a n g e d , share fo r share, fo r s to c k o f new c o m ­
pany.
R a ilw a y fra n ch ise expires In 1932.
D o cs en tire ele ctric railw ay bus­
iness In J a ck son v ille
5 3 3 0 .non c o m . stoek Is held h v P u b . S e rv. In v e s t. C o.
O n F eb . 28 1914 shareholders a u th o rize d 5 5 0 0,00 0 a d d itio n a l p re f. an d
8 5 0 0,00 0 a d d itio n a l c o m m o n , m a k in g $ 1 ,0 0 0 ,0 0 0 p r o f, an d $ 1 ,5 0 0 ,0 0 0
c o m m o n . V . 9 8 , p . 763 , 690 , 611.
STOCK AN D BO N DS—
D ate. Interest.
Outstanding
M aturity.
C m im o n $ 1 .5 00,000 ($ 1 0 0 )..................
Q -F
$999,200 M y ’ 14.1 H
P ref 6 % cu m $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 ) ____
6 Q -F
500.000 M a y l 4 , 1 H
First con s m tge $5,000,0001 1911
5 M -S
755,000 M ch 1 1931
($500 and $ 1,0 0 0 i____c* t f J In t. at S ta te S treet T ru st C o .. B o s to n , T ru s.
J a ck s o n v E lec 1st M $ 1 ,2 5 0 ,-t 1902
5 g M -N
1,245,000 M ay l 1927
000 gold ( $ 1 , 0 0 0 ) . . o ’ . n t f l i n t , at A m e rica n T ru st C o .. B o s to n , T ru stee.
2 -y r g old n otes, $ 50 0,00 0, gl 1913
6 J -D
500 ,000 Ju n e 1 1915
($500 & $ 1 ,0 0 0 ), red at 100) In t. a t S ta te S treot T r . C o . , B o s t o n , T ru s te e .
an d Interest___________c * t f j
___
,
,
Bonds.— O f the 1st c o n s o l, b o n d s, $ 1 ,2 4 5 ,0 0 0 are reserved to retire J a c k ­
son v ille E lec. 1st M .. $5,000 are in treasury an d $ 3 ,000,000 are fo r add i
t ons and Im pts. a t 8 0 % o f c o s t . S u b j. t o call as a w hole o r in part fo r sink,
fund at 105 and Int. Sink, 'u n i, 1 % per ann um o f b o n d s o u t. begins M a r . 1
1917. V . 92, p 1564. J a c k s o n v . E le c . C o . b o n d s are s u b j. t o call as a
w h ole at 105 and in t. on a n y in t. d a te . A sink, fu n d o f 1 % ann ually « f
b on d s o u t c o m m en ced M a y 1 1907, w h ich m a y bo used fo r e x te n . and im pts.
or in purchase o f b o n d s. $ 5 ,000 b o n d s h a v e been c a n ce le d .
D ividends.— O n old Elec. C o c o m . 6 % an n u ally fro m A u g . 1 1905 to
A u g . 1 1910, w hen rate was increased to 7 % an d sam e a m o u n t paid to Feb
1911. O n new 7’roc. C o . c o m . initial d lv .— 1 % — p aid in M a y 1911; sam e
rate qu a rterly since to and in ci. M a y 1914,
E M I N I N G S .— F o r 12 m o s . e n d in g D e c . 31 1913, gro ss, 567 9,62 2; net,
a fte r ta xes, $24 1,03 2; ch a rge s, 5 13 1,26 7; im p t. fu n d , $12 ,450 ; p re f. d iv s .,
$ 30 ,000 ; c o m m o n s t o c k , $ 56 ,000 ; su rplu s. $ 1 1 ,3 1 6 .
R O A D .— O perates 51.24 m iles o f tra ck . H a s 98 ca rs . G au ge 5 ft.
O F I 'I C K R S .— P res ., G e o . J . B a ld w in , S a v a n n a h , G a .; V .-P s ., C h a s. F.
W a lla ce, G u y L. W e v m o u th an d H arry II. H u n t; T r e a s ., H en ry B . S aw yer;
S e e., A lvah 1C. T o d d ; M g r ., H ard y C r o o m . Ja ck so n v ille , F la.; G en . M g r s ..
S to n e & W ebster M g t . A s s n ., B o s t o n .— V . 92, p . 881 , 1561; V . 97, p . 117;
V . 98, p . 611 , 690 , 763.

JA M E STO W N , N . Y .
JA M E S T O W N ST R E E T R A I L W A Y .— T r o lle y .
O R G A N I Z A T I O N . — In co rp o ra te d O ct. 18 1883. F ran ch ise runs till 1982
Strike.— On M a y 1 1913 the e m p lo y e e s o f this c o m p a n y and th o C h a u ­
tau qu a T ra ction C o . w ent on strike becau se o f c o m p a n y 's refusal to ernnt
an Increaso in w ages and o th e r m in or reasons; Ju n e 30 strike was d eclared
o f f , the m en returnin g to w ork on tho term s o ffe r e d b y th e c o m p a n y at the

beginning.




J O H N S T O W N T R A C T I O N C O .— A tro lle y r o a d .
O R G A N I Z A T I O N .— I n c o r p . In P e n n sylva n ia on F eb . 24 1910. W a s
In corp orated o rig in a lly to ta k e a lease for 18 years fro m J a n . 5 1910 o f the
Jo h n sto w n Pass. R y . fro m the A m e r. R y s. ( P h lla .).
In Ja n . 1914 the
J o h n sto w n P ass. R y . and th o J o h n sto w n T r a c . C o . w ere m erged und er tho
title o f tho J o h n sto w n T r a c t io n C o . , th e A m o r. Ity . C o . h a v in g sold Its
Interests. Franchises p e rp e tu a l.
K
, „
H olders o f the J o h n sto w n co lla te ra l 5s o f A m or. R y s. had th e p riv ile g e
(until Jan . 15 1914) o f exch a n g in g their b o n d s fo r the new 1st & re f. 5s o f
th is c o m p a n y (see A m e rica n R a ilw a y s u n d er “ P h ila d e lp h ia ” ; p r a c tic a lly
all a v a ile d o f th e p riv ile g e .
STOCK A N D BO N D S—
D a te.
In terest. Outstanding.
M a tu r ity .
C o m m o n , s‘ l , 0 0 0 ,0 0 0 , par $ 5 0 ................................
.......................
I’ f $1 0 0 0 ,0 0 0 7 % c u m ( $ 1 0 0 ) - -----------1,0 0 0 ,0 0 0 ------------------1st & re f M , $ 5 , 0 0 0 , 0 0 0 , s f\ 1913
5 g J -J
2 ,0 0 0 ,0 0 ° J u ly 1 1043
($500 51.000) c o l d - - c + n t f l L o g a n T r u s t C o . , P h ila d e lp h ia , T ru stee.
Joh n s Pass R y c o n M , $ 8 0 0 ,001)( 1899
4 g J -D
* ? 29
g ( $ l ,000) red a n y int d a y c * t f / I n t . at G u a r a n ty T r . C o
N Y
T r u s te e .
J oh n s Pass R y re f M , $ 2 ,0 0 0 ,- j 1901
4 g J D
1 ,601,000 D ap 1 1931
000 gold (SI ,000) c * - . n t f / I n t . at J o h n sto w n T r u s t C o . , T ru ste o
Bonds — O f th e 1st & re f. m tg e . $ 2 , 0 0 0 ,0 0 0 are reserved to retire J oh n s­
to w n P ass. Ity . 4s; th e rem ain der ($ 1 ,0 0 0 ,0 0 0 ) reserved fo r fu tu re exten ­
sions & c
R e d . a t 102 and in t.
Sinking fu n d o f 1 % a n n u ally from O ct.
1917 t o O ct. 1942, Incl. O f th e J o h n sto w n P a ss. m t g e . o f 19 0 1 , en tire issue
be called at a n y tim e at 105 u p on six w eeks' n o tice .
E A R N I N G S .— F o r ca le n d a r year 1913 (D e c . ost..), gro ss, 5 67 1,55 3; n e t,
after taxes 5 32 2,04 9; b o n d in t ., 5 18 0,00 0; su rp lu s, $ 1 4 2 ,0 4 9 .
In 1912,
gro ss, S605’.2 l0 ; n e t, a fte r ta x e s, 529 1,99 8; b o n d in t ., $18 0,00 0: su rplu s,
& C __ O w n s and op e ra te s u n d er perpotu al ch a rte r and franchises
th o entire street ra ilw a y sy s te m o f J o h n sto w n , P a ., an d v ic in it y . T o t a l
tr O F IH C E R S n— P r e s .. E . M . d u P o n t .— V . 9 0 , p . 698 , 819; V . 92, p . 187;
V . 9 7 , p . 1823; V . 9 8 , p . 155.

J O L IE T , I L L .
J O L IE T & S O U T H E R N T R A C T IO N CO.
R ec e iv e rs h ip __ O n F e b . 4 1911 J u d ge Carnes In K a n e C o u n ty C ou rt, on
a p p lica tion o f cre d ito rs, a p p o in te d H . A . Fisher (P res, o f c o .) and D aniel
P eterkin receivers V . 92, p . 395 . A b o n d h o ld e rs co m m itte e w as fo rm e d .
V 9 ’ p 1636 N o b o n d interest p a id sin ce re ce ive rsh ip . O n N o v . 23 1911
C o n t . '& C o m m . T r . & 9 a v . B k ., as tru steo, began fo re clo su re p ro ce ed in g s
in K a n e C o u n ty C ir c u it C o u r t . V . 93, p . 1191, 1532.
T h e n ro n e rtv w as to bo sold u nd er foreclosu re o f b o t h m o rtg a ge s o n F o b .
11 l u l l (See V . 9 8 , p . 155.) It w as e x p e cte d th at a fte r tho salo ea ch d iv i­
sion n am ely the J o lie t & S ou th ern 1 raction C o . and th o Jo lie t P lain field &
A u ro ra R R w o u ld bo o p e r a te d as a se p a ra te ra ilr o a d . U p t o M a y 15 1914
th o re o rg a n iz a tio n h ad n o t taken p la c e . T h e n am e p ro p o s e d to r th o new
c o m p a n y is th e J o lie t & E astern T raction C o ., b u t it Is n o t k n o w n w h other
th is n am e w ill b o s a n c tio n e d b y th o S tate D e p a r tm e n t.
STOCK A N D B O N D S—
D a te.
Interest. O utstanding
M a tu rity.
S to c k , $ 1 , 5 0 0 ,0 0 0 ( $ 1 0 0 ) - - - - - - - - ’?i0.°'Pnn - V W *
1st mtire
$ 1 5 0 0 .0 0 0 , g o ld l 1907
5 g F-A
1.211,400
See tex t.
(5100 $500 and $ 1 0 0 0 ) - 0 * J In t. a t C o n t. & C o m . 1 r. A S . Bk .,Cli lo ..T ru s
J o l P & A R R $400 000 , g o ld ) 1903
5 g F -A
397.000 A u g 1 1938
(51,000) .
- c * & r / l n t . at C o n t. & C om . T r . & S a v .B k .,C h .. T r .
F A R N I N G S __ F o r c a l e n d a r y e a r 1 9 1 1 , g r o s s , $ 1 0 8 ,0 3 8 ; n e t , $ 3 5 ,2 6 4

R O A D — O perates 45 m iles o f track be tw e e n J o lie t and A u rora and J oliet
inri C h ieav o ifpiizhts an d 2 m iles o f track in J o lie t,
I'orin s a c o n n e c tf n g im k b e c w e e n C h ic ^ g o & J o lie t E le c , an d A u ro ra E lgin & C h ic R R .
lia s
Indepen dent e n tran ce an d term in al a t J o lie t , and w ith a s u b -sta tio n o f its
ow n is g e ttin " its n ow er fro m th e E c o n o m y G o .
H as a lo n g -tim e c o n tr a c t
r a « W
l X
#" A u r o r a - , , 6 ^ b T rail; stan d ard g a u g e . - V . 02.
p. 395 , 1636; V . 9 3 , p . 1191, 1332; V . 9 7 , p . 803, V . 08, p. 15a.
B L O O M I N G T O N P O N T I A C & J O L I E T E L E C . R Y . — A tro lle y r o a d .
D efau lt.— In terest on 1st m tg e . b o n d s has n ever been paid.
O R G A N I Z A T I O N .— In co rp o ra te d In 1903. P riva te right o f w a y e x c e p t
In cities, w here franchises run 50 years.
ST O C K A N D B O N D S —
D a te.
Interest. O utstanding.
M a tu rity .

firVoii^jyo
%IIw;oo-».( i«s sva*
151:88 ssm a i
' g (M 0 0 . $a 0 6 and $ 1 .0 0 0 ). J lu t . a t A m e r. I r . & S a v . B k ., C ld c .. T ru stee.
B O N D S .— S u b . to call at 105 & in t. a n y Int. d a te . N o s. f . V . 90, p. 235.
R O A D __ H as u n d er c o n s tr u c tio n a line t o c o n n e c t the p o in ts nam ed In
t h e t it l e o f w h ic h 20 m ile s , b e t w e e n P o n t i a c a n d D w i g h t . Is In o p e r a t i o n .
10 m o r e m llM fr o m P o u t la b t o C h e n o a Is a b o u t 4 5 % c o m p le t e d .

O F F I C E R S .— P r e s ., F ran k J . B a k er; V . - P . , C h a s. A . M u n r o e : S e c .T r e a s ., Joh n II. G u lic k , all o f 72 W . A d a m s S t ., C h ic a g o . 111. O ffic e a t
P o n tia c , 111.— V . 85, p . 1004; V . 9 0 , p . 235, V . 96, p . 651.

K A N S A S C IT Y , M O.
K A N S A S C IT Y R A I L W A Y & L IG H T CO.
O R G A N I Z A T I O N .— In co rp o ra te d In 1903 In N ew Jersey and a cqulred the entire o u tsta n d in g ca p ita l
,9; *e. x^r<?P°Mt&n S treet R a il­
w ay o f K ansas C ity and the K ansas C ity E lectric L ight C o .
(P lan In V.
76 p. 1143.) T h ro u gh M etrop olitan Street R a ilw a y s to c k , the K ansas C ity
R a ilw a y & L ight C o. acquired th e sto ck o f the C entral E lectric R a ilw a y
C o. and p ra ctica lly all o f the s to ck o f th e K ansas C ity E le v a te d R a ilw a y
C o .,a n d , th rou gh the s t o c k o f th e K an sas C ity E lectric L igh t C o ..I t a c ­
quired the s tock o f the E dison E le ctric L igh t & P ow er C o . (o f K ansas
C it y ), the C on solidated E lectric L ight & P ow er C o ., the S tan d ard E lectric
L igh t Co. and the K ansas C ity E lectrical W ire S u b w a y C o m p a n y — e x c e p t ,
o f co u r s e , In each instance the qu a llllca tlo n shares held b y d lie c t o r s
C on trols all the street railw ay, e le ctric-lig h tin g and pow er business In cities
o f K ansas C ity, M o ., and K ansas C ity , K a n .

May , 1914.]

O w n s e n t ir e s t o c k o f th e K a n s a s C it y & W e s t p o r t B e lt R y . (a s te a m
r o a d , s in c e c o n v e r t e d t o e l e c t r i c i t y ) , w h ic h o n J u n e 16 1 9 0 6 a b s o r b e d the
I n t e r u r b a n S o u t h S id e R y . , b o t h h a v i n g p e r p e t u a l c h a r t e r s a n d b e in g o r ­
g a n iz e d u n d e r th e G e n e r a l R a ilr o a d L a w o f M is s o u r i; a is o a c q u i r e d c a p it a l
s t o c k o f the K a n s a s C it y H e a t lu g C o . , h a v i n g a fr a n c h is e w h ic h e x p l r e s ln
1935.
T h is la s t d is t r ib u t e s s t e a m In th e b u s in e s s c e n t r e o f th e c i t y .
Street Railway Franchises .— T h e fr a n c h is e s o f t h e r a ilw a y lin e s in K a n s a s
C i t y . M o . In w h ic h c it y t h e g r e a t e r p a r t o f s y s t e m Is l o c a t e d , w e r e r e v is e d
a n d c o n fir m e d In J u ly 1 90 2 a n d fr a n c h is e s g r a n t e d f o r e x t e n s io n s a n d v a lu
a b le t r a c k a g e rig h ts’ In n e w ly p o p u la t e d p o r t io n s o f t h e s h o p p i n g a n d
d e l iv e r y d is t r ic t s , a ll o f w h ic h fr a n c h is e s a r e o p e r a t i v e t o t h e u n if o r m d a t e
of Ju n e 1 1925.
T h e r a ilw a y f r a n c h is e s In K a n s a s C i t y , K a n ., In D e c . 190 2
w e re r e n e w e d , a n d a u t h o r i t y w a s g i v e n t o b u ild e x t e n s i o n s , all f o r th e
m a x im u m p e r io d f o r w h ic h t h e c i t y h a d p o w e r t o g r a n t t h e s a m e , n a m e ly
t o D e c . 19 1 9 2 2 .
B y t h e t e r m s o f t h e fr a n c h is e s t h e r a t e o f fa re Is d e fin it e ly
fix e d a t 5 c e n t s , t r a n s fe r p r iv ile g e s a re p r o v i d e d , a n d th e t a x e s p r a c t ic a l l y
lim it e d t o 8 % o f t h e a n n u a l g r o s s r e c e ip t s .
A s t o t h e v a l u a t i o n s o f t h e M e t r o p o li t a n Street. R y . p r o p e r t y m a d e b y
t h e c o m p a n y a n d t h e c i t y in c o n n e c t i o n w it h t h e n e g o t a i t io n s f o r a n e w
fr a n c h is e , s e e V . 9 6 , p . 5 5 3 .
Etectric Liohl Franchise .— T h e fr a n c h is e o f t h e K a n s a s C it y E l e c t r ic L ig h t
C o . Is p e r p e t u a l.
Receivership .— O n J u n e 3 1911 F e d e r a l J u d g e W . C . H o o k a p p o in t e d
R o b t . J . D u n h a m (C h . o f K . C . R y . & L t . b o a r d o f d ir e c t o r s ) o f C h ic , a n d
F o r d F . H a r v e y o f K a n s a s C it y r e c e iv e r s f o r t h e M e t r o p o lit a n S t . R y . ,
C e n t r a l E l e c . U y . a n d K a n s a s C i t y K ie v . R y . ( V . 9 2 , p . 1 5 6 4 ).
It w as
s t a t e d t h a t r e c e iv e r s h a d b e e n a p p o in t e d a t t h e in s t a n c e o f b a n k e r s t o c o n ­
s e r v e t h e p r o p e r t y u n t il s a t i s f a c t o r y fr a n c h is e r e la t io n s w it h t h e c i t y c a n b e
e ffe c t e d .
N o d e fa u lts h a v o o c c u r r e d .
V . 9 3, p . 1191.
See fo rm a l sta te ­
m e n t b y It J . D u n h a m a n d b a n k e r s c ir c u l a r in V . 9 2 , p . 1 5 0 5 .
P rotec­
t iv e c o m m i t t e e s h a v o b e e n f o r m e d c a l li n g f o r d e p o s i t s o f K a n s a s C i t y a n d
M e t r o p o lit a n b o n d s .
V . 92, p . 1565.
O n J u n o 14 1 9 1 2 s u it w a s b r o u g h t t o
f o r e c l o s e t h e M o t . S t . R y . c o n s o l id a t e d m o r t g a g o .
V . 9 4 , p . 1627; V . 95,

s o l id a t e d m t g o . o f 1 8 9 9 , a n d t h o N o w Y o r k T r u s t C o . , a s t r u s t e e u n d e r t h e
K a n s a s C i t y R y . & L t . C o . 1 s t lie n r e f. M . o f 1 9 0 3 , t o g o a h e a d w it h t h o
f o r e c l o s u r e s u it s p e n d in g t h o f r a n c h is o n e g o t i a t io n s .
V . 9 8 , p . 1 3 9 2 . I n v ie w
o f f o r e c lo s u r e p r o c e e d i n g s , a s t o c k h o l d e r s ' c o m m i t t e e h a s b e e n f o r m e d w it h
C o n t i n e n t a l & C o m m e r c ia l T r u s t & S a v in g s R a n k , C h i c a g o , d e p o s i t a r y .
V . 95, p. 176, 236 .
S e e t h a t c o m m i t t e e 's c ir c u l a r in V . 9 5 , p . 2 9 7 .
A
n o te h o ld e rs ’ p r o t e c tiv e c o m m it t e e h a s a ls o b e e n fo rm e d (O . M . T r a v is ,
24 B r o a d S t r e e t , N e w Y o r k , S e c r e t a r y , a n d N e w Y o r k T r u s t C o . , d e p o s i ­
t a r y ; O ld C o l o n y T r u s t C o . , B o s t o n , a g e n t o f d e p o s i t a r y ) , c a llin g f o r
d e p o s it o f K a n s a s C it y R y . & L ig h t 6 % n o te s .
V . 95, p. 420, 752.
lilt ,
o n t h e s e n o t e s w a s p a id S e p t . 1 1 9 1 2 .
V . 9 5 . P. 0 1 8 .
I n t . fr o m S e p t . 1
1 9 1 2 t o M a r . 1 1 91 3 a n d fr o m M a r . 1 191 3 t o S e p t . 1 1 9 1 3 . a t t h e r a t e o f 7 %
p e r a n n u m , w a s a ls o p a i d .
V . 96, p . 653.
T h o i n t . f r o m S e p t . 1 1 91 3 t o
A l a r . 1 1914 a t t h o r a t e o f 7 % w a s a ls o p a i d .
V . 98, p . 690.
Jud ge H ook
o n A p r . 3 0 1 91 4 a u t h o r i z e d t h o r e c e iv e r s (n o t w i t h s t a n d i n g t h o p r o t e s t o f
t h o c i t y ) o n a p p l i c a t i o n b y t h o m t g o . t r u s t e e t o p a y 1 % p e r a n n u m a l d it io n a l in t . o n t h o (1 ) M e t . S t . R y . 5 s o f 1 89 5 f r o m N o v . 1 1 9 1 3 , (2 ) C e n t r a l
E le c . R y . 5s o f 1899.
(3 ) F r o m N o v . 15 191 3 o n t h o S t . R y . ’ s p r o p o r t io n
o f t h o 5 % K a n s a s C i t y R y . & L t . C o . 1st r e f . b o n d s .
V . 9 8 , p . 1460.
In ­
t e r e s t o n t h o r e f. m t g o . 5 s p a id p r o m p t l y ; s e o V . 9 8 , p . 1 5 3 7 . O n J u n o 15
1 91 1 J u d g e H o o k in t h e U . S . C i r c u i t C o u r t a u t h o r i z e d t h o r e c e iv e r s t o p a y
p r in . & in t . o f o b l ig a t io n s o f M e t r o p . S t . R y . m a t u r in g in 1911 t o t h e a m o u n t
o f $ 9 8 4 ,6 4 0 f r o m e a r n in g s o f c o m p a n y , p r o v i d e d it w o u ld n o t u n d u ly h a m p e r
o p e r a t io n o f r o a d .
Seo“ V . 9 2 , p . 1 7 0 1 .
T h o c i t y in S e n t . 1 9 1 1 , h a v i n g p e ­
t it io n e d J u d g e H o o k t o r e q u ir e c o m p a n y t o liv e u p t o its fr a n c h is e o b l i g a ­
t io n s . S p e c ia l M a s t e r B r u m b a c h o n N o v . 24 1911 r e p o r t e d t h a t $ 8 ,2 7 4 ,8 0 0
w o u ld b e r e o u i r e d , p r o v i d e d it s h o u ld b e d e t e r m in e d b y la w t h a t t h o c i t y
O as t h e r ig h t t o e n f o r c e s u c h r e q u ir e m e n t s .
See V . 9 3 , p . 1532.
Central Electric Ry.— Deposits Requested— Interest Payment, &c.— A c o m ­
m it t e e (se o V . 9 8 , p . 8 3 8 ) r e q u e s t e d d e p o s i t s o f t h o $ 2 ,0 0 0 ,0 0 0 1 st m t g o . 5s
d u o M a y 1 1914.
V . 98, p . 838.
T h o co m m itte e a rra n g ed fo r th o p a y ­
m e n t o f t h e in t . d u o M a y 1 1 91 4 ( V . 9 8 , p . 1 3 1 5 , 1 3 1 6 ).
F e r m is s io n w a s
g r a n t e d b y t h e U . 8 . D i s t r i c t C o u r t o n A p r . 2 7 191 4 t o in c r e a s e t h o in t e r e s t
r a t o f r o m 5 % t o 6 % , p o n d in g n e g o t i a t io n s w it h t h e c i t y .
V . 9 8 , p . 1392.
O n M a y 2 1 91 4 t h o E q u i t a b l e T r u s t C o . o f N . Y . f il e d a s u it in t h o U . S .
D is t r ic t C o u r t a t K a n s a s C it y t o fo re c lo s e th o C e n tra l E le c . R y . m tg o . o f
1899.
V . 98, p . 1460.
STOCK A N D BO N D S—
Date.
Interest. Outstanding.
Maturity.
...................
C o m m o n , $ 1 2 ,5 0 0 ,0 0 0 ( $ 1 0 0 ) ........................................$ 9 ,5 4 3 ,0 8 0
P r e f ., 5 % , n . o . . $ 1 2 ,5 0 0 ,0 0 0 .

($100).................... .................... -

5 Q-M

9.407,500 M ch.’ l l 1H%

l i t lie n r e fu n d , M .. $ 2 0 ,0 0 0 ,- ) 1 90 3 5 g M -N 1 5 1 0 .2 0 0 ,0 0 0
M a y 1 5 , 191 3
0 0 0 g o l d ________________ c * & r ) N e w Y o r k T r u s t C o . . N . Y . . a n d H e n r y C
i
F lo w e r, T ru s .
I n t. at C o .’s a g e n c y N Y .
N o t e s , $ 5 ,5 0 0 ,0 0 0 ($ 1 ,0 0 0 ) . . 1 90 7
7 M -S
5 ,4 7 8 .0 0 0
See te x t

Underlying Liens.
O o rr lg a n C o n . S t . R y . 1 s t !
1886
5 g J -J
1 5 6 ,0 0 0
J u ly 1 191 6
M . ($ 1 ,0 0 0 ) g . , r e d . a t 1 1 0 / I n t . a t C e n tr a l T r u s t C o . . N . Y . T r u s t e e .
M e t r o p o lit a n S t . R y . c o n . l
1 89 5
5 g M -N
7 , 2 4 2 ,0 0 0
M a y 1 1913
m o rtg a g e
(S e e t e x t ) ) r n t . a t O ld C o l o n y T r u s t T r u s t e e . B o s t o n .
g o ld ( $ 1 , 0 0 0 ) ____ ______c * & r j In t e r e s t a ls o p a y a b le in N e w Y o r k .
d e n t . F le e . R v . 1st m o r t . , f
189 9
5 g M- N
2 . 000,000
M a y 1 191 4
$ 2 ,5 0 0 ,0 0 0 ( $ 1 ,0 0 0 ) g o l d , ( I n t . a t E q u i t a b l o T r . C o . , N . Y . , T r u s t e e ,
g u a r _______________________ c * l
-E a st S id e E l e c . U y . 1st M ..1 1901
5 g J -J
2 5 0 ,0 0 0
(S e e t e x t )
$ 2 5 0 ,0 0 0
g o ld
( 5 1 .0 0 0 ) ,) I n t . a t T ru st C o . o f A m ., N . Y ., T r u s te e ,
n o t g u a r ................................ c* J V V m . I lu t t t g o f K a n s a s C it y Is a ls o T r u s t e e

Controlled Companies.
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Kan. C . (c V V estp. 1st M ., ]
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5 0 0 ,0 0 0 J u l y 1 1 92 6
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( $ 1 , 0 0 0 ) .........................................J I n t e r e s t a t N . Y . T r u s t C o . , N . Y . , T r u s t e e

Bonds.— O f t h e $ 2 0 , 000,000 m o r t g a g e o f th e K a n s a s C it y R y . & L ig h t
G o ., $ 9 ,8 0 0 ,0 0 0 w e r e r e s e r v e d fo r u n d e r l y i n g lie n s .
T h ese b o n d s are b o th
c o u p o n a n d r e g is t e r e d , th e c o u p o n b o n d s b e in g In d e n o m i n a t i o n o f $ 1 ,0 0 0
a n d th e r e g is t e r e d b o n d s In d e n o m i n a t i o n s o f $ 1 ,0 0 0 , $ 1 0 ,0 0 0 a n d $ 5 0 ,0 0 0 .
T h e b o n d s a re r e d e e m a b le a t 105 a n d I n t . o n a n y I n t. d a t e . T h e M e t r o ­
p o lit a n S t . R y . . th e K a n . C it y E le c . L t . C o . a n d th e C e n t. E le c . R y . in M a y
1 94 3 n u d e t n t g e . n o t e s a g g r e g a t in g $ 1 0 ,5 0 0 ,0 0 0 , w h ic h w e r o d e p o s i t e d as
c o lla t e r a l u n d e r t h e K a n s a s C it y R y & L ig h t C o . m o r t g a g e ; t h e s h a r e
c a p i t a l a c q u ir e d o f t h e K a n s a s C it y E le c . L ig h t C o a n d t h e M e t r o p o lit a n
S t r e e t R y . w e r e a ls o s o d e p o s i t e d .
T h o 6 % n o t e s o f 1 90 7 w e ro d u o S e p t . 1 1 91 2 b u t w e ro e x t e n d e d a t 7 % .
T h e y c o n s is t o f $ 4 ,1 2 5 ,0 0 0 s c r ie s " A ” a n d $ 1 ,3 7 5 ,0 0 0 s eries ‘ B . "
They
a r o r e d e e m a b le o n e ig h t w e e k s ’ n o t i c e o n a n y i n t . d a t e a t 1 0 0 a n d a c ­
c r u e d I n t e r e s t.
T h e y a r e s e c u r e d b y p le d g e o f $ 3 ,7 2 1 ,0 4 3 n o t e s o f
M e t r o p o l. S t . R y . , $ 1 ,0 0 8 ,7 9 5 n o t e s o f K a n . C it y E le c . L ig h t C o . a n d $ 2 .
6 9 5 ,0 0 0
c o m . a n d $ 2 ,9 7 7 ,9 0 0 p r e f. s t o c k o f th e K a n . C it y R y . & L t . C o . , a n d
s u c h s e c u r it ie s o f s u b s id ia r y c o m p a n i e s as a r e p le d g e d u n d e r th e I n d e n t u r e
o f M a y 15 1 9 0 3 . s e c u r lu g th e 1st lien r e f. g o ld b o D d s .
T h e se rie s " A " n o t e s
a r e c o n v e r t ib le a t o p t i o n o f h o l d e r I n t o 6 9$ s h a re s o f c o m . a n d 7 s h a r e s o f
p re f. s to c k .
V . 85, p. 284; V . 85, p . 469; V . 86, p. 285.
$ 2 2 ,0 0 0 o f S e r.
“ A ” n o t e s a r e In t r e a s u r y .
M e t r o p o l. c o n s o l , m t g e ., o r ig in a ll y f o r $ 8 ,5 0 0 ,0 0 0 , fell d u e M a y 1 1 9 1 0 b u t
w a s e x t e n d e d f o r 3 y e a r s t o M a y 1 1913 a n d n e w b o n d s o f fe r e d In e x c h . fo r
o ld b o n d s .
S ee V . 9 0 , p . 1045.
M t g e . Is c lo s e d a n d lim it e d t o $ 7 , 5 0 0 ,0 0 0 .
R e m a in in g b o n d s a r e r e s e r v e d t o r e t ir e C o r r ig a n C o n . S t . R y . b o n d s .
V . 90 , p. 1044, 1363.
N o t s u b j e c t t o c a ll.
T h e b o n d s o f t h e K . C . & W e s t p o r t R y . a r e g u a r . p r ln . a n d i n t . b y t h e
K a n s a s C it y R y . & L ig h t C o . , a n d a r o s u b j e c t t o c a ll o n a n y I n te r e s t d a t e
a t 105 a n d I n t . o n 9 0 d a y s ' n o t i c e .
T h e E a s t S id e E l e c . R y . m t g e . o r ig in a ll y fe ll d u e o n J u l y 1 1 9 1 1 , b u t w a s
e x t e n d e d I n d e fin it e ly .
T h o C e n t . E le c . R y . m t g e . b o n d s fe ll d u o M a y 1 1 9 1 3 , b u t w e re e x t e n d e d
fo r o n e yea r to M a y 1 1914.
Kansas City Elevated R y . 1st M . p r e fe r e n c e 6s a r e g u a r a n t e e d , p r i n c ip a l
a n d I n t e r e s t, b y e n d o r s e m e n t b y t h e M e t r o p c d lt a n S t r e e t R y . ; s o a re t h e
2d M g e n e r a l 4 s.
T h e g u a r a n t y o n t h e l a t t e r w a s 3 % p e r a n n u m u n t il
J u ly 189 5 a n d s in c e t h e n 4 % .
F o r f o r m o f g u a r a n t y , see V . 7 3 . p . 1 1 6 0 .
D ividends. — F ir s t d l v . . 1 X % o n p r e f . s t o c k , w a s n a ld o n J u n e 1 190 4
a n d 1 ) i % q u a r . t h e r e a f t e r u p t o a n d i u c l. M c h . 1 1 9 1 1 .
N o n o s in ce .




63

ELECTRIC RAILWAYS

R E P O R T .— F o r y e a rs e n d in g M a y 3 1 .
P a s s e n g e r s c a r r ie d f o r r e v e n u e
In 1 9 1 1 -1 2 , 1 1 9 ,7 3 4 ,9 1 0 ; t r a n s fe r s , 4 8 , 6 1 1 , 5 4 0 .
R e p o r t f o r 1 9 1 0 -1 1 In
V. 9 3 , p . 1458.
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1 9 1 1 -1 2 .
1 9 1 0 -1 1 .
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. . $ 1 , 2 4 5 ,2 6 3
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R O A D . — C o m p r is e s 1 3 8 .6 4 m ile s o f r o a d a n d 2 6 5 .9 m ile s o f t r a c k . L l g h t n g (.M a y 31 1 9 1 2 ) e q u i v a l e n t t o 1 ,3 0 3 ,6 2 6 1 6 - c a n d l e - p o w e r I n c a n d e s c e n t
am ps.
O F F I C E R S . — P r e s ., J o h n M . E g a n ; V . - P . , F r a n k H a g e r m a n ; S e c . a n d
T r e a s ., J . A . H a r d e r ; C o m p ., R . J . C la r k .— V . 9 3 , p . 1 3 8 6 , 1 4 5 8 , 1 5 3 2 ,
1668; V . 9 5 , p . 176. 2 3 6 , 297, 361 . 4 2 0 , 618 , 6 8 0 , 75 2 , 1 2 0 7 , 168 4; V . 9 6 .
p. 5 53 . 653 . 789 , 1021. 1297, 1423; V . 9 7 , p . 4 9 , 175 , 4 4 3 , 594, V . 9 8 , p . 236.
6 9 0 ,8 3 9 ,1 3 1 6 ,1 3 9 2 ,1 4 5 9 .

K A N SA S C IT Y C L A Y C O U N T Y & ST. JOSEPH R A I L W A Y CO.
O R G A N I Z A T I O N . — I n c o r p . in M is s o u r i in 1 9 0 9 u n d e r a 2 0 0 - y e a r c h a r ­
ter.
I n J a n . 1 9 1 3 t h e lin o f r o m K a n s a s C i t y t o E x c e l s i o r S p r i n g s , M o . , w a s
o p e n e d , a n d o n M a y 5 1 91 3 o p e n e d f o r o p e r a t i o n i t s lin e b e t w e e n K a n s a s
C i t y a n d S t . J o s e p h , 5 2 K m ile s .
V . 96, p . 1423.
A l s o h a n d le s f r e i g h t .
STOCK AN D BON DS—
Dale.
Interest. Outstanding.
Maturity.
S t k . , c o m . , $ 1 0 ,0 0 0 , 0 0 0 ( $ 1 0 0 ) _____
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0 0 0 g o ld , s. f . , r e d . at 1 0 5 (E q u ita b le T r . C o . , N . Y . . a n d J . F . D o w n a ft e r S e p t . 1 1 9 1 5 _____c * t f :
in g , K a n . C y ., T r u s .
I n t . p a y a b le N . Y .
B on is .— O f t h o s s c r o w b o n d s , $ 3 6 5 ,0 0 0 m a y b e is s u e d f o r 8 0 % o f t h e c o s t
o f p e r m a n e n t a d d it i o n s a n d e x t e n s io n s t o t h e p r o p e r t y .
T h e r e m a in in g
$ 6 , 5 0 0 , 0 0 0 c a n o n l y b e is s u e d f o r 8 0 % o f t h e c o s t o f p e r m a n e n t a d d it i o n s
a n d e x t e n s i o n s , p r o v i d e d t h a t t h e n e t e a r n in g s o f t e r a ll o p e r a t i n g e x p e n s e s
( i n c l . t a x e s , i n s u r ., d e p r e c ’ n , & c . ) f o r t h e p r e c e d i n g 12 m o n t h s s h a ll h a v e
b e e n e q u a l t o a t le a s t 1 2 -3 t im e s t h e a n n u a l i n t e r e s t c h a r g e s o n a ll b o n d s
o u t s t a n d i n g , t o g e t h e r w it h t h o s e p r o p o s e d t o b o is s u e d .
Sinking fund o f
1 'A % o f b o n d s c e r t i f i e d , b e g in n in g S e p t . 1 1 9 1 7 .
E A R N I N G S . — F o r 10 m o n t h s e n d i n g F e b . 28 1 9 1 4 , g r o s s , $ 5 0 0 ,4 2 7 ; n e t ,
a f t e r t a x e s , 5 2 3 3 ,5 7 8 ; i n t . , $ 1 3 0 ,6 2 5 ; s u r p . , $ 1 0 2 ,9 5 3 .
R O A D . — O p e r a t e s 5 2 .5 5 m ile s b e t w e e n K a n s a s C i t y a n d S t . J o s e p h ,
M o . , a n d 2 5 .0 6 m ile s b e t w e e n K a n s a s C i t y a n d E x c e l s i o r S p r in g s , A I o . ,
t o t a l 7 7 .6 1 m ile s .
70 a n d 8 0 -lb . T -r a il; s ta n d a r d g a u g e .
P a ssen g er
e q u i p m e n t , 16 c a r s a n d 1 w o r k c a r .
O F F I C E R S . — P r e s . , P h ilip L . S a l t o n s t a l l, B o s t o n , M a s s . ; V . - P . , T h o s .
A . R e y n o ld s , N . Y . ; S e c ., J . D . H o o k ; T r e a s ., II. F . M a v e r : G e n . M g r .,
J . R . H a r rig a n , K a n s a s C i t y , A I o .; G e n . S u p t ., C . W . F o r d , K a n . C it y
A I o .— V . 9 6 , p . 1 4 2 3 ; V . 9 7 , p . 1 2 8 6 ; V . 9 8 , p . 5 2 3 , 1 1 5 7 .

K A N S A S C I T Y - W E S T E R N R A I L W A Y . — A tro lle y ro ad .
F o r m e r ly th e K a n s a s C i t y - L e a v e n w o r t h R a il r o a d a n d n a m e c h a n g e d to
K a n s a s C i t y - W e s t e r n R y . H a s l o n g - t i m e franchises In t e r r i t o r y s e r v e d .
STOCK AN D BO N DS—
Date.
Interest. Outstanding
Maturity.
S t o c k . $ 2 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ______ _______
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5 g M -S
1 ,6 5 0 ,0 0 0 S e p t 1 1 92 5
( c o u p , $ 1 ,0 0 0 ; r , $ 1 ,0 0 0 . H n t e r e s t a t G u a r a n t y T r u s t C o . , N e w Y o r k .
$ 5 , 0 0 0 , 8 1 0 , 0 0 0 ) ............. . t f i
tru stee.
Stock and Bonds.— $ 1 ,4 0 0 ,0 0 0 o f b o n d s w e r e Issu ed t u r e fu n d a l i k e a m o u n t
i f b o n d s o u t s t a n d i n g o f o ld c o m p a n y , a ll b u t $ 4 2 ,0 0 0 o f w h ic h h a v e b e e n
r e t ir e d , $ 1 0 0 ,0 0 0 fo r g e n e r a l c o r p o r a t e p u r p o s e s a n d $ 1 5 0 ,0 0 0 f o r I m p r o v e ­
m e n t s ; r e m a in in g $ 3 ,3 5 0 ,0 0 0 t o b e Issu ed fo r a c q u i s i t i o n s , e x t e n s i o n s a n d
I m p r o v e m e n t s u n d e r c u s t o m a r y r e s t r i c t io n s . E n t ir e o u t s t a n d i n g Issu e li
r e d . o n a n y I n t. d a t e a t 105 a n d I n t .
V . 8 9 , p . 1483.
R E P O R T . — F o r y e a r e n d in g J u n e 3 0 1 9 1 3 , g r o s s , $ 3 4 1 ,8 2 2 ; n e t , a ft e r
t a x o s , $ 9 2 ,1 6 2 ; f ix e d c h a r g e s , $ 8 2 ,5 0 0 ; s u r p l u s , $ 9 ,6 6 2 .
In 1 9 1 2 , g ro s s .
$ 3 4 8 ,9 0 0 ; n o t , a f t e r t a x e s , $ 9 8 ,1 4 7 ; f ix e d c h a r g e s , $ 8 2 ,5 0 0 ; s u r p l u s , $ 1 5 ,6 4 7 .
R O A D . — O w n s a n d o p e r a t e s 4 3 .7 5 m ile s o f r o a d , o f w h ic h a b o u t 18 m ile s
are w it h in t h e c i t y o f L e a v e n w o r t h a n d 25 X m ile s b e t w e e n F t . L e a v e n w o r t h
a n d K a n s a s C i t y . K a n . E n te r s K a n s a s C i t y , M o ., o v e r t r a c k s o f t h e K a n s a s
C it y V i a d u c t & T e r m in a l R y . , w h ic h o w n s a n d o p e r a t e s a ste e l a n d c o n ­
c r e t e v i a d u c t c o n n e c t in g K a n s a s C i t y , K a n . , w it h K a n s a s C i t y , M o .
H as
s e c o n d e n t r a n c e I n t o K a n s a s C i t y o v e r t r a c k s o f t h e M e t r o p o li t a n S t r e e t R y .
O F F I C E R S . — C . F . H o lm e s . P r e s .; C . F . H u t c h in g s . V . P . a n d G e n . A t ­
t o r n e y S . D . H u t c h in g s . S e c . a n d T r e a s .; J W . R i c h a r d s o n , G e n . S u p t . ;
W . M B on ar, A n d .
G en eral o ffic e , L e a v e n w o r t h , K a n .— V . 8 9 , p . 1483;
V . 90. p . 110. 3 6 8 .
________
M IS S O U R I & K A N S A S IN T E R U R B A N R Y .— K n o w n as " S t r a n g L in e .’
O R G A N I Z A T I O N . — I n c o r p o r a t e d In K a n s a s u n d e r G e n . R R . la w .
In
1 90 9 r c e e iv e r a p p o in t e d t h e p r e v i o u s y e a r w a s d i s c h a r g e d , a n d o l d c o m p a n y
re s u m e d c o n t r o l. V . 8 6 , p . 146 7; V . 8 9 , p . 128 1. M o t iv e p o w e r ch a n g e d
f r o m S t r a n g g a s o lin e c a r s t o e l e c t r i c it y in 1 9 0 8 . V . 8 7 , p . 6 1 4 . H a s p r i v a t e
r ig h t o f w a y a b o u t 8 0 „ f e c t w id e f r o m K a n s a s C it y t o O la t h e .
S T O C K A N I) B O N D S . —
Date.
Interest. Outstanding.
Maturity.
• R o c k , $ 1 ,0 0 0 0 0 0 ( $ 1 0 0 ) ........................................................$ 1 ,0 0 0 ,0 0 0
.........................
'a t m o r t g a g e $ 6 0 0 ,0 0 0 g o l d l 1 9 0 6
5 g J -J
6 0 0 ,0 0 0 J a n
1 1 95 6
( $ 1 ,0 0 0 ) —
_____o / F i d e l i t y T r u s t C o . , K a n s a s C i t y , t r u s t e e
E A R N I N G S .— F or
$ 1 0 4 ,8 0 8 .

c a l.

yr.

1912,

gross,

$ 1 0 8 ,4 6 3 .

In

1911,

gross-

R O A D . — O p e r a t e s 2 0 m ile s o f r o a d , fr o m K a n s a s C it y t h r o u g h S o u t h d d g e , M o r r is o n R i d g e , M tlb u rn P l a c e , O v e r la n d P a r k a n d L e n e x a t o O la t h e
E n te r s K a n s a s C it y o v e r t r a c k s o f t h e M e t r o p o li t a n S t r e e t R y .
7 0 - l b . r a ils .
H a s 13 c a r s . I n c lu d in g p a s s e n g e r a n d f r e i g h t .
O F F I C E R S . — P r e s ., \V. B . S t r a n g ; V . - P . , I I . C . B r e n t ; S e c . & T r e a s . ,
E . N . D a n ie ls ; G e n . M g r . , T h o s . R i l e y .
G e n e r a l o f f i c e s . O v e r la n d P a r k .
K a n s a s .— V . 3 7 . p . 6 1 4 ; V . 8 9 , p . 1 2 8 1 .

KENNETT, PA.
W ES T CHESTER KENNETT & W ILM INGTON ELECTRIC R Y .

Bonds .— D e fa u lt h a v i n g o c c u r r e d D e c . 1 1 91 0 o n 1st M . b o n d s , a ll t h e
h o ld e r s a s s e n t e d t o p la n o f m a n a g e m e n t p r o v i d i n g t h a t c o u p o n s d u e D e c . I
a n d J u n e 1 1 91 0 b e c a n c e l e d , a n d c o u p o n s t o J u n e 1 1 9 1 5 s t a m p e d p a y a b le
at ra te o f 4 % .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In P e n n s y lv a n ia o n M a y 24 1 9 0 $ .
a n d Is a r e o r g a n i z a t io n o f a c o m p a n y o f t h e s a m e n a m e s o ld u n d e r f o r e c lo s u r e
In A p ril 1 9 0 5 .
O n F e b . 26 1 90 8 a b s o r b e d t h e f o r m e r l y c o n t r o ll e d O x fo r d
W e s t G r o v e & A v o n d a l e S t . R y . , w h ic h w a s t o b u ild t h e e x t e n s i o n fr o m
A v o n d a le to O x fo r d .
See V . 86. p . 670.
S T O C K A N D B O N D S .—
Dale.
Interest. Outstanding. Maturity
C o m m o n $ 9 2 5 ,0 0 0 __________ . . _____
____________
$ 5 2 5 ,0 0 0
.................... .
P r e f ( $ 7 5 ,0 0 0 ) 6 % n o n - c u m . ..............................................
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5 g J -D
4 2 0 ,0 0 0 J u n e 1 1 9 3 5
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E A R N I N G S . — F o r y e a r e n d i n g J u n e 3 0 1 9 1 3 , g r o s s , $ 7 0 ,8 0 8 ; n e t , a f t e r
t a x e s , $ 2 4 ,0 0 4 .
R O A D . — A b o u t 2 0 m ile s o f t r a c k b e t w e e n W e s t G r o v e , A v o n d a l e , K e n n ett S q u a re an d
W i lm i n g t o n , c o n n e c t in g a t K e n n e t t fo r W e s t C h e s te r
T h e e x t e n s io n fr o m A v o n d a l e t o O x f o r d , 12 H m ile s , h a s b e e n c o m p le t e d as
fa r a s W e s t G r o v e , a n d Is In o p e r a t i o n t o t h a t p o i n t .
G a u g e , 5 f t . 2 X in .
6 0 a n d 7 0 - lb . T a n d g ir d e r r a il.
O F F I C E R S . — P res . G e o
K e ss le r . P h lla .: V . - p . . C la r e n c e L
H arper,
P h l l a . ; S e c . a n d T r e a s . , P h ilip E . G u c k e s , P h il a .; G e n . M g r . . I I . B a lu s s ,
K e n n e t t S q u a r e , I’ a . — V . 9 1 , p . 1 5 7 5 , 1 6 3 1 , 1 7 1 2 ; V . 9 4 , p . 8 3 1 ; V . 9 5 , p .1 7 7 .

KEOKUK, IA.
C E N T R A L MIS SI S SI PP I V A L L E Y E L E C T R I C P R O P E R T I E S —
O R G A N I Z A T I O N . — F o r m e d In I llin o is b y a t r u s t a g r e e m e n t d a t e d
D e e . 12 1 9 1 3 , u n d e r w h ic h t h e r e a r e d e p o s i t e d w it h t r u s t e e s a ll t h e c o m m o n
s t o c k o f t h o K e o k u k E l e c t r ic C o . (s e e b e l o w ) a n d a ll t h o c a p i t a l s t o c k s o f
F o r t M a d i s o n E l e c . C o . a n d D a ll a s C i t y L i g h t C o .
T h e s e c o m p a n ie s d o

64

t h e e l e c t r i c r a i l w a y , e l e c t r i c l ig h t i n g , p o w e r a n d g a s b u s in e s s in K e o k u k ,
l a . , t h e e l e c t r i c l ig h t i n g a n d p o w e r b u s in e s s In F o r t M a d i s o n , l a . , a n d
D a ll a s C i t y ,111., t h o e l e c t r i c r a i lw a y a n d l i g h t i n g b u s in e s s in H a m i l t o n
a n d W a r s a w , 111., a n d o p e r a t e s a n i n t e r u r b a n e l e c t r i c r a i lw a y b e t w e e n
K e o k u k , H a m ilt o n a n d W a rs a w .
T h o s t o c k w a s o f f e r e d in D e c . 1 9 1 3 in
b l o c k s o f 10 s h a r e s p r e f . ( p a r 5 1 0 0 ) a n d 3 s h a r e s c o m . f o r 5 0 0 .
Franchises.— T h e e l e c t r i c r a i lw a y a n d e l e c , l ig h t i n g f r a n c h is e s In K e o k u k
e x p i r e in 1 9 3 6 , t h e g a s f r a n c h is e in 1 9 2 8 .
T h e e l e c t r i c l ig h t i n g f r a n c h is e
In H a m il t o n e x p ir e s in 1 9 3 6 ; t h e i m p o r t a n t r a i lw a y f r a n c h is e in 1 0 3 1 .
T h e e l e c t r i c lig h t in g f r a n c h is e s in F o r t M a d i s o n a n d D a ll a s C i t y e x p i r e
In 1 9 3 8 .
S T O C K (No Bonds.)—
Date.
Interest.
C o m m o n 7 ,5 0 0 s h a r e s ( n o p a r / _____
_________
v a l u e ) -------------------------------------- \
6 Q .-M .
P r e f ( 6 % c u m ) 5 7 5 0 , 0 0 0 ( 5 1 0 0 ) .............
Preferred Stock.— R e d e e m a b l e a t 1 1 0 .

Outstanding.
1 7 ,5 0 0
(s h a r e s .
5 7 5 0 ,0 0 0

Dividends.
______________
M a r .1 4 .lH

. E A R N I N G S . — F o r c a l . y e a r 1 9 1 3 ( o n e m o n t h c s t . ) , g r o s s , 5 2 8 9 ,0 0 0 ,
n e t , a f t e r t a x e s , 5 1 0 7 .0 0 0 .
Dividends.— A n i n it i a l d i v . o f 1 H % w a s p a i d o n t h e p r e f . s t o c k M a r c h 2
1914.
V . 98, p . 610.
O F F I C E R S . — P r e s . , G e o . H ig g i n s o n J r . ; V . - P s . , C h a s . F . W a l l a c e a n d
B . A l c o t t P r a t t ; S e c . , J o s e p h L . V a le n t i n e , C h i c a g o 111.; T r e a s . , I I . B .
S a w y e r ; A s s t. S e c ., A lv a h K . T o d d ; G e n . M g r s ., S to n e & W e b s te r M g t .
R O A D .— M ile s o f t r a c k , 1 3 .3 5 .
C a r s , 2 2 .— V . 9 8 , p . 7 2 , 6 1 0 .
( 1 .) K e o k u k
E le c t r ic C o .
O R G A N I Z A T I O N . — I n c o r p . in 111. o n D e c . 5 1 9 1 1 a s s u c c e s s o r t o t h o
K e o k u k E l e c . I t y . & P o w . C o . ; K e o k u k G a s & E l e c . C o . ; H a m il t o n L t .
& P o w e r C o . , a n d K e o k u k & W e s t e r n E l e c . C o . , c o n t r o l o f w h ic h w a s
p u r c h a s e d in 1 9 1 1 b y S t o n e & W e b s t e r M g t . A s s n .
D o e s t h o e l e c t r i c r a i lw a v , e l e c t r i c l ig h t i n g , p o w e r a n d g a s b u s in e s s in K e o k u k , l a . ; t h e e l e c t r i c
r a i lw a y a n d e l e c t r i c l ig h t i n g b u n s ie s s in H a m il t o n & W a r s a w , III. a n d
o p e r a t e s a n in t e r u r b a n e l e c t r i c r a i lw a y b e t w e e n K e o k u k , H a m il t o n a n d
W arsaw .
STO CK AN D BON DS—
Date. Interest. Outstanding.
Maturity.
C o m m o n 5 6 5 0 ,0 0 0 ( 5 1 0 0 ) ..............................................
5615 000
P r e f . 5 2 5 0 .0 0 0 ( 5 1 0 0 ) 6 % c u m . _____
_________
2 5 0 ’000
"
K e o k u k E l K y & P o w 1 st M l 1901
5%
1 8 9 ,0 0 0
See‘ tex't‘.
( c l o s e d m t g e ) ...................... n t f /
C e n t. T ru s t C o . & II. E . A m b le r , T ru stees
K e o k u k G a s L t & C o k e 1st M l 1898
5%
150 ,0 0 0
1918
( c l o s e d m t g e ) .........................t f l
U n io n T r u s t C o . , S t . L o u i s , T r u s t e e .
H a m L ig h t & P o w e r 1 st M l 1902
6%
4 ,5 0 0
1922
( c l o s e d m t g e ) ------------------ n t f / C o n t . & C o m m . T r . & S a v . B k . , T r u s t e e .
Stock.— C o m m o n s t o c k is a ll o w n e d b y C e n t . M i s s . V a i l . E l e c . P r o p e r t i e s .
P r e f . s t o c k is r e d . a t 1 1 0 .
Bonds.— T h o K e o k u k E l e c . I t y . & P o w e r f ir s t m t g e . 5 s a r e d u e s e r ia lly
1914 t o 1 9 2 5 .
R e d . a n y In t. d a y a t 105 a n d in t .
E A R N I N G S . — F o r c a l . y e a r 1 9 1 3 , g r o s s , 5 2 5 1 ,4 7 4 ; n e t , a f t e r t a x e s .
5 9 5 ,5 8 5 ; i n t . , 5 2 2 ,6 0 4 ; s in k , f d . , 5 8 ,7 5 0 ; s u r p lu s , 5 0 4 ,2 3 1 .
O F F I C E R S . — P r o s . , H a r r y T . E d g a r ; V . - P s . , G e o . H ig g i n s o n J r . a n d
G u y L . W e y m o u th ; S e c ., A lv a h K . T o d d ; T r e a s ., H e n r y B . S a w y e r; G e n .
M g r s ., S t o n o & W e b s te r M g t . A s s n .— V . 9 3 , p . 1 7 2 5 ; V . 9 7 , p . 1 5 8 3 . 1 8 9 8 ­
V . 9 8 .P .7 3 .
______________

KEWANEE, ILL.
Q ALE SB U R Q & K E W A N E E ELECTRIC RY.
O R G A N I Z A T I O N .— In co rp o ra te d M a y 1902.
I s a r e o r g a n i z a t io n o f
t h o G a le s b u r g & O n e id a E le c . R y . C o .
STOCK AN D BON DS—
Date.
Interest. Outstanding. Maturity.
_____
___________
5 2 0 0 ,0 0 0
C o m m o n , 5 2 0 0 ,0 0 0 ( 5 1 0 0 ) ___
P r e f ., 5 4 0 0 ,0 0 0 (5 1 0 0 ) 6 % c u m
_____
___________
1 1 0 ,8 0 0
F ir s t m t g e , $ 4 0 0 ,0 0 0 , ( $ 5 0 0 &1
1906
6 g J .-J
4 0 0 ,0 0 0 J u l y ' 2 '1 9 2 6
5 1 , 000 ) . g ........... .................. c & r / I n t . a t C o n t . & C o m . T r . & S a v . B k . , C h t o . , Tx
Bonds.— A r e r e d . o n a n y i n t . d a y a t p a r a n d i n t . N o s . f .
E A R N I N G S . — F o r 12 m o s . e n d i n g J u n e 3 0 1 9 1 3 , g r o s s , 5 8 4 ,4 7 2 ; n o t .
5 2 0 ,9 3 9 ; i n t . a n d t a x e s , 5 2 3 ,5 8 8 ; d e f . , 5 2 ,6 4 9 .
R O A D . — H a s c i t y lin e in K e w a u e e & W e t h e r s fi e l d , a n d I n t e r u r b a n
b e t w e e n K e w a n e e a n d G a lv a .
T o t a l t r a c k o p e r a t e d 14 m ile s .
7 0 -8 0 -lb .
T a n d g ir d e r r a ils .
G a u g e 4 f t . 8 H In.
O F F I C E R S . — P r e s ., W . H . L y m a n ; V . - P . , H . W . C r a n e ; S e e . & T r e a s . .
F . M . L a y : G e n . M g r ., R . I I . H a y w a r d .

KEYPORT, N. J.
J E R S E Y C E N T R A L T R A C T I O N C O . — T r o l le y .
O R G A N I Z A T I O N . — C h a r t e r e d M a r . 2 6 1 8 9 1 , in N . J . , a s t h e K e y p o r t
Sf M a t a w a n S t r e e t R y . , a h o r s o lin e , b u t h a s b e e n o p e r a t e d a s a n e l e c t r i c
r a i lw a y s i n c e J u l y 1 9 0 1 , a n d n a m o c h a n g e d a s a b o v e In N o v . 1 9 0 1 .
C om ­
p a n y o w n s fr a n c h is e s f o r t h e c a r r y in g o f f r e i g h t a n d t r a n s p o r t s b r i c k , g r a v e l
& c . , f o r l o c a l in d u s t r ie s .
C o m p a n y a l s o o w n s 4 6 2 o f t h o 5 0 0 s h a r e s o f s t o c k a n d a ll o f t h e b o n d s
( 5 10 0 , 000 )
o f t h e M id d le s e x & M o n m o u t h E l e c t r ic L i g h t , H e a t & P o w e r
O o . , w h ic h s u p p lie s b o t h c i t y l ig h t i n g a n d p r l v a t o p o w e r a n d l ig h t i n g in
S o u t h A m b o y , K e y p o r t , M a t a w a n , K e a n s b u r g , B e l f o r d a n d o t h e r c it ie s
S T O C K A 1*D B O N D S —
Date. Interest. Outstanding.
M atu rtu .
s t o c k 5 1 . 600,000 ( 5 1 0 0 ) ......................................................... 5 1 .5 0 0 ,0 0 0
lylalurllu‘
1 s t m o r t g a g e 5 7 5 0 ,0 0 0 g o l d / 190 1
5 g M -N
2 3 0 ,0 0 0 N o v " Y I o 5 I
( 5 5 0 0 a n d 5 1 . 0 0 0 ) ...............t f ( I n t e r e s t a t C o l o n i a l T r u s t C o . , P h i l a . . t r u s t e e
G e n & r e f m t g e 5 1 .5 0 0 ,0 0 0 / 1904
5 g J -D
1 , 2 7 0 ,0 0 0 D e c 1 1 0 5 4
o l d (5 1 .0 0 0 )
c * t f ( I n t . a t F id o lit y T r u s t C o . , N e w a r k , tru stee.
ends. — O f t h o 5 1 .5 0 0 ,0 0 0 n o w b o n d s , 5 2 3 0 ,0 0 0 a r e r e s e r v e d t o r e t ir e
t h e f ir s t 5 s .
T h e n e w b o n d s a r o r e d e e m a b le a t 1 0 5 a n d i n t . D e c . 1 1 9 1 4
o r a n y In terest p e r io d th e r e a fte r .
R E P O R T . — F o r c a le n d a r y e a r 1 9 1 3 ( in c h M i d . & M o n . E l e c . L i g h t ) ,
g r o s s , 5 3 0 2 ,7 5 0 ; n e t , 5 1 4 3 ,3 8 1 ; t a x e s , 5 8 ,6 3 1 ; i n t . , 5 8 1 ,0 1 4 ; s u r ., 5 5 2 ,7 3 6 .
R O A D . — O w n s a n d o p e r a t e s 3 6 .0 9 m ile s o f r o a d f r o m S o u t h A m b o y ,
K e y p o r t a n d B e l f o r d t o R e d B a n k ; B e l f o r d t h r o u g h A t l a n t i c H ig h la n d s t o
H ig h la n d B e a c h ; F r e n e a u t h r o u g h M a t a w a n t o K e y p o r t , N . J .
S ta n d a rd
g a u g e 6 0 - l b . T a n d 7 0 - l b . g ir d e r r a ils .
N e a r l y a ll o v e r p r l v a t o r ig h t o f w a y .
32 p a s s e n g e r c a r s , 2 e l e c t r i c l o c o m o t i v e s , 29 f r e i g h t c a r s a n d 1 s n o w - p l o w .
A n e x t e n s i o n f r o m S o u t h A m b o y t h r o u g h M e c h a n i c s v il l o a n d o v e r t h e
R a r it a n R i v e r B r i d g e t o P e r t h A m b o y w a s c o m p l e t e d in 1 9 1 0 .
O F F I C E R S . — P r e s ., J a s . H . M o r r i s , M o r r i s B l d g . , P h il a .; V . - P . & G e n .
M g r . , G . I . B r o w n , R e d B a n k ; S e c . a n d T r e a s . , R . A . T a u s s ig , M o r r i s B l d g .
P h ila .; A s s t . S e c . & A s s t. T r e a s ., F . A . C a te r , K e y p o r t . N . J .— V . 7 6 .
p . 1 3 0 0 ; V . 9 2 . p . 4 6 1 . _____________ ____
*

f

KEY WEST, FLA.
K E Y W E S T E L E C T R I C CO.— A trolley ro ad .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In N e w J e r s e y In 1 89 8 a n d d o e s e n t ir e
e l e c t r i c -l ig h t a n d p o w e r b u s in e s s In a d d it i o n t o e n t ir e s t r e e t r a i lw a y b u s in e s s
o f t h e c i t y ; a ls o o w n s franchises f o r m a n u f a c t u r e o i g a s . Franchises e x p ir e
1997.
I n J u n e 1 90 4 a c q u i r e d t h e K e y W e s t E l e c t r ic L i g h t & P o w e r C o .
V . 78, p. 2334.
I n J u n e 1 9 0 6 w a s a c q u ir e d b y S t o n e & W e b s t e r o f B o s t o n
a n d r e -c a D lta llz e d a s b e l o w .
V . 82, p . 1496.
STOCK AN D BON DS—
Date.
Interest. Outstanding. M aturitu.
C o m m o n 5 5 0 0 ,0 0 0 ( 5 1 0 0 ) _____ _______
____________
5 5 0 0 .0 0 0
P r e f 5 3 5 0 ,0 0 0 ( 5 1 0 0 ) 6 % c u m ...............
Q -M
3 5 0 ,0 0 0 ..........................
F ir s t
m o rtg a g e
5 1 .0 0 0 ,0 0 0 / 1 9 0 6
5 g F -A
5 0 4 ,0 0 0 A u g 1 1 9 5 6
g o l d . . . ................. ................. _ t f ( I n t e r e s t a t S t a t e S t r e e t T r C o . B o s t o n , T r .
Pref. Stock.— O f t h o 5 3 5 0 ,0 0 0 p r e f . s t o c k r o p o r t e d o u t s t a n d i n g a b o v e
5 8 0 ,0 0 0
Is h e ld In t r u s t f o r t h e b o n e f l t o f t h e c o .
R e d . a t 110.
Bonds.— A r e s u b j . t o c a ll a s a w h o le o r In p a r t f o r s . f . a t 1 0 5 a n d I n t .a t
a n y t im e . A s in k , f u n d o f 1 % o f b o n d s o u t b e g a n D e c . 1 1 0 0 7 , i f e a r n e d ;
o n D e c . 1 1912 b e ca m e o b lig a t o r y .
5 8 8 ,0 0 0 in t r e a s u r y , n o t i n c l. in
o u ts ta n d in g a m o u n t.
E A R N I N G S . — F o r c a l . y e a r 1 9 1 3 , g r o s s , 5 1 4 2 ,9 5 8 ; n e t , a f t e r t a x e s
5 5 7 ,3 8 3 ; i n t . , 5 2 5 ,1 1 1 ; s i n k , f u n d , 5 5 ,8 7 0 ; p r e f . d i v . ( 6 % ) . 5 1 6 2 0 0 " s u r ­
p l u s . 5 1 0 ,2 0 2 .
R O A D . — O p e r a t e s 5 .4 m ile s o f t r a c k ; 10 c a r s .
G a u g e 5 f t . 2 H in .
O F F I C E R S . — P r e s . , G e o r g e J . B a l d w i n , S a v a n n a h ; 1 s t V . - P . , C h a r le s
F . W a l la c e ; 2 d V . - P . , H a r r y U . H u n t ; S e c . , A l v a h K . T o d d ; T r e a s . , H e n r y
B . S a w y e r; A c t in g M g r ., B . L . G r o o m s , K e y W e s t, F la .; G e n . M g r s .
to n o & W e b s te r M g t . A s s n ., B o s t o n .— V . 8 2 , p . 149 6; V . 9 4 , p . 150 8.

KINGSTON, N. Y.
K IN G S T O N C O N S O L I D A T E D R R .
O R G A N IZ A T IO N .— This Is a consolidation on Deo. 11 1901 of the Kings­
ton City R R . and the Colonial City Traotlon.




[Vol. XCVIII.

ELECTRIC RAILWAYS

STOCK AN D BON DS—
Date.
Interest. Outstanding.
Maturity.
C o m m o n , 5 2 0 0 ,0 0 0 ( 5 1 0 0 ) ....................................................
5200 000
. .. .
P r e f e r r e d . 4 % c u m 5 2 0 0 , 0 0 0 . . .........
......................
2 0 0 000 J a n ’ 1 1 . 4 %
F ir s t c o n s o l id a t e d m o r t g a g e / 190 1
5 g J -J
5 3 2 ,0 0 0 O c t . 9 1951
5 7 0 0 ,0 0 0
(S I ,0 0 0 ) g u i d e * t f l I n t . a t B a n k e r s T r u s t C o . , N . Y . . T r u s t e e .
S e c o n d m o r t g a g e , 5 2 5 0 .0 0 0 J 1 9 0 9
5 J -J
none
Jan
1 1939
($ 1 ,0 0 0 )
---------------- l i n t , a t B a n k e r s T r . C o . , N . Y . , t r u s t e e .
Kingston CUV R R .—
C o n s o l 5 1 5 0 .0 0 0 (5 1 ,0 0 0 ) n o t / 1 8 9 3
5 M -S
1 5 0 ,0 0 0 M c h . 1 1 9 2 3
s u b j t o c a ll b e f o r e m a t y t f l I n t . a t F a r m e r s ’ L o a n & T r u s t C o . . N . Y .
M o rtg a g e o n c a r b a rn . .
. . ------5 q u a r.
6 ,0 0 0
On dem and
Bonds. 5 1 5 6 ,0 0 0 o f t h e 5 7 0 0 ,0 0 0 c o n s o l id a t e d m o r t g a g e Is r e s e r v e d t o r e t lr e t h e K in g s t o n C i t y R R . u n d e r l y i n g H ens; 5 1 2 .0 0 0 h a v e b e e n c a n c e l e d .
w a s Pal<l y e a r l y o n p r e f . s t o c k s in c e c o n s o l i d a t i o n u p t o
1 9 0 8 , w h e n 2 % w a s p a id A u g . 1 .
N o n e to J a n . 1 191 1, w h en 4 % w as p a id .
N o n o s in ce th e n u p t o M a y 1 1 9 1 4 .
3

R O A D . — E m b r a c e s 8 m ile s o f t r a c k .
s n o w p lo w s .

R a l l s , 7 0 , 8 0 a n d 9 0 - lb

40 ca rs.

R E P O R T . — F o r y e a r e n d . D e c 31 1 9 1 3 , g r o s s , 5 1 5 4 ,2 8 7 ; n e t . 5 4 6 ,9 9 7 ;
i n t . , t a x e s , & c . , 5 4 6 ,0 7 4 ; s u r p l u s , 5 9 2 3 .; 1 9 1 2 , g r o s s , 5 1 5 6 ,0 5 8 ; n e t . 5 8 5 6 5 2 ;
I n t e r e s t , t a x e s , & c . , 5 4 6 ,4 3 4 ; s u r p l u s , 5 3 9 ,2 1 8 .
O F F I C E R S . — P r e s ., F r e d . T . L e y , S p r i n g f ie l d , M a s s .; V . - P . , H e n r y O
P a g e , W o r c e s t e r , M a s s .; S e c . , G . B . t e B o w , K in g s t o n ;
T rea s
Abm ’
H a s b ro u ck , N ew Y o r k .— V . 8 9 , p . 225 , 529 ; V . 9 0 , p . 3 0 3 .
‘

KNOXVILLE

KNOXVILLE, TENN.
& LIGHT CO.

RAILW AY

C o n t r o l l e d b y A m e r i c a n C i t i e s C o . (s e o u n d e r N o w O r l o a n s ) , w h ic h o w n s
a ll t h e s t o c k .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In T e n n e s s e e o n A u g . 5 1 9 0 5 a s a c o n ­
s o lid a t io n o f t h e K n o x v i ll e T r a c t i o n C o . a n d t h e K n o x v i l l e E l e c t r ic L i g h t &
P ow er C o.
D o e s a ll t h e s t r e e t r a i lw a y a n d a ll m u n i c ip a l a n d c o m m e r c i a l
e l e c t r i c -l ig h t in g a n d p o w e r b u s in e s s In K n o x v i l l e .
A l s o c o n t r o ls t h e
K n o x v i ll e P a r k A s s o c i a t io n , o w n in g t w o a m u s e m e n t p a r k s .
Franchises
are p e r p e t u a l , e x c e p t as t o 1 14 m ile s o f s t r e e t r a i lw a y , w h ic h la t t e r r u n u n t il
N o v . 28 1946.
I n 1 91 1 5 1 ,5 0 0 ,0 0 0 c o m . a n d 5 5 0 0 ,0 0 0 p r e f . s t o c k w a s a ll m a d e o n e c la s s
a n d In crea sed to 5 2 ,0 5 0 ,0 0 0 .
H a s f a v o r a b l e lo n g - t e r m c o n t r a c t w it h T e n n e s s e e P o w e r C o . f o r t h e p u r ­
ch a s e o f e le ctric p o w e r .
STOCK A N D B O N D S—
Date.
Interest. Outstanding.
MaturityJ -D
5 2 ,0 5 0 ,0 0 0 M a r ’ 1 4 , 2 %
S t o c k 5 2 ,0 5 0 ,0 0 0 ( 5 1 0 0 ) .........................
R e f & e x t m t g e 5 1 0 ,0 0 0 ,0 0 0 1 191 1
5 J -D
2 , 0 1 4 ,0 0 0 J u n e 1 194 6
(5 5 0 0 a n d 5 1 , 0 0 0 ) — c * c p t / I n t . a t G u a r a n t y T r u s t C o . , N . Y . , T r u s t e e
C o n s o lid a t e d m t g e 5 3 ,0 0 0 , 0 0 0 / 1 9 0 5
5 g M -S
1 ,1 7 3 ,0 0 0
S e p t . 1 1 94 5
g o ld >5 1 , 000 )
. c * i I n t i .a t S t a n d a r d T r u s t C o . , N e w Y o r k , T r u s t e e .
K n o x v i ll e T r a c 1st M 5 8 5 0 , - / 1 8 9 8
5 g A -O
8 2 3 .0 0 0 A p r il 1 1938
000 g t a x f r e e ( 5 1 , 0 0 0 ) - . o * U n t , a t B a lt i m o r e T r . C o . B a lt . T r u s .
Bonds. — O f t h e r e f . & e x t . m o r t g a g e , 5 3 ,0 0 0 ,0 0 0 a r e r e s e r v e d f o r p r io r
lie n s a n d 5 4 ,9 8 6 ,0 0 0 a r e f o r a d d it i o n s a n d i m p r o v e m e n t s u n d e r c e r t a in
r e s t r i c t io n s . O f t h e b o n d s r e p o r t e d o u t s t a n d i n g , $ 1 6 ,0 0 0 a r o in t r e a s u r y
B o n d s a r e r e d e e m , a t 105 a n d i n t . o n 0 0 d a y s ’ n o t i c e o r m a y b e p u r c h a s e d
In o p e n m a r k e t a t a p r ic e t o n e t n o t less t h a n 4 H % . A n n u a l s in k in g f u n d
b e g in n in g O c t . 1 1 9 1 5 , e q u a l t o H o f 1 % o f t o t a l a m o u n t o f b o n d s o u t
Of
t h o 5 3 ,0 0 0 ,0 0 0 c o n s o l s , 5 8 2 4 ,0 0 0 a r c r e s e r v e d t o r e t ir e K n o x v i l l e T r a c C o
b o n d s a n d 5 4 2 8 ,0 0 0 h a v o b e e n r e t ir e d .
B o n d s a r c r e d e e m a b le a t 1 0 7 H a n d '
in t . o n 6 0 d a y s ’ n o t i c e .
S i n k . f d . a n n u a lly o f H o f 1 % o f a ll b o n d s o u t
( in c l . K n o x v i l l e T r a c . b o n d s ) b e g a n S e p t . 1 1 9 1 0 . a n d a f t e r s y e a r s is In­
c r e a s e d t o l % a n n u a l ly .
5 2 9 ,0 0 0 o f o u t s t a n d i n g b o n d s w e re h e ld In s in k fd
on J a n . 1 1913.
T h e K n o x v . T r a c . C o . fir s t m t g e . b o n d s a r o n o t s u b j e c t
t o c a l l.
$ 2 7 ,0 0 0 h a v e b e e n c a n c e l e d .
Dividends.— F ir s t d i v i d e n d o n c o m m o n — 2 % — J u n e 2 9 1 9 0 7 , 1 % w a s
p a id S e p t . 1 90 7 a n d 1 % D e c . 1 9 0 7 ; in 1 9 0 8 , 4 % ; in 1 9 0 9 , 7 % ; in 1 9 1 0 , 8 % in 1 9 1 1 . 1 0 % . T h e n s t o c k a ll m a d e o n e c la s s a n d In J u n e 1 9 t 2 p a I d 3 H % :
D e c ., 3 H % .
In 19 1 3 , J u n e , 2 H % : D o c ., 5 %
In 19 1 4 , M a r ., 2 % .
R E P O R T .— F o r ca le n d a r y e a rs .
P a s s , c a r r ie d In 1 9 1 2 , 1 0 ,9 6 0 ,3 4 4 .
Year —
Gross.
Net after Taxes. Interest, &c.
Surplus
$ 3 8 2 ,4 3 0
$ 1 9 7 ,7 9 3
$ 1 8 4 ,6 3 7
1 9 1 3 ................................... $ 8 8 2 ,8 0 2
1 9 1 2 ................................... 7 2 8 ,0 3 5
3 3 9 ,6 5 4
1 8 1 ,4 1 0
1 5 8 .2 4 4
1 9 1 1 ........................
7 0 9 ,6 0 4
3 5 2 ,9 6 2
1 6 0 ,8 6 6
1 9 2 .0 9 6
1 9 1 0 ................................. 7 1 6 ,1 1 0
3 6 5 ,0 5 4
1 4 0 ,3 7 1
2 2 4 683
1 9 0 9 ................................... 6 1 3 ,5 2 0
3 0 2 ,4 8 6
1 3 8 ,0 3 8
1 6 4 (4 4 8
R O A D . — O n D e c 31 1 9 1 3 o w n e d 5 2 .4 5 8 m . o f t r a c k , i n c l. 1 1 .1 4 8 m ile s
o f d o u b le t r a c k ; s t a n d a r d g a u g e : 7 0 - l b . a n d o v e r T a n d g ir d e r r a il.
H a s 65
o p e n c a r s , 82 c lo s e d c a r s a n d 11 w o r k c a r s ; t o t a l , 1 5 8 .
O w ns on o park and
le a s e s a n o t h e r .
O F F I C E R S — P r e s . & G e n . M g r . , O . I I . I l a r v o y ; V . - P . , W . S . S h ie ld s ;
S e c . & T r e a s . , C . J . F l e m in g ; A u d . , G e o r g e C o o p o r . — V . 8 3 , p . 3 8 ; V . 8 5 .
p . 3 45 , 4 0 5 , 793; V . 88, p . 1620; V . 96, p . 716, 1021.

KOKOMO, IND.
INDIANA RAILWAYS & LIGHT CO.
O R G A N I Z A T I O N . — I n c o r p . In I n d i a n a o n D o c . 7 1 9 1 2 a s a c o n s o l id a ­
t io n o f t h e K o k o m o M a r io n & W e s t e r n T r a c . C o . , K o k o m o F r a n k fo r t <&
W e s te rn T r a c . C o . a n d K o k o m o P u b lic U tilit y C o .
C a r r ie s o n a n I n t e r ­
u r b a n a n d s t r e e t r a i lw a y , l i g h t i n g , p o w e r a n d h e a t i n g b u s in e s s .
S treet
r a i lw a y franchises e x t e n d t o 1 9 5 3 ; e l e c t r i c - l ig h t in g , p o w e r a n d s t e a m -h e a t in g
fr a n c h is e s a r e l im i t e d t o 2 5 y e a r s ( s u b j . t o r e n e w a l) a n d e x t e n d t o 1 9 3 2 o r
beyond.
STOCK AN D BON DS—
Dale.
Interest. Outstanding.
Maturitu
C o m m o n , $ 2 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) .................................................$ 2 ,0 0 0 ,0 0 0 ..................
P r e f c u m $ 1 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ....................
6 Q -M
3 5 0 ,0 0 0
S e o text".
1st & r e f M s k fd $ 5 ,0 0 0 ,0 0 0 / 1912
5 g J -J
„ 1 ,1 8 0 ,0 0 0 J a n
1 1943
($ 5 0 0 a n d 5 1 , 0 0 0 ) , g c * - t f \ U n i o n T r u s t C o . o f I n d i a n a p o li s , T r u s t e e .
K o k M a r & W 1st M $ 1 ,0 0 0 ,- / 1903
5 g J -J t
6 5 0 ,0 0 0 J u l y 1 1933
0 0 0 g ($ 5 0 0 & $ 1 , 0 0 0 ) c * n t f ( I n t e r e s t a t S e c u r i t y T r u s t C o . , I n d . , T r u s t e e .
Stock.— P r e fe r r e d s t o c k is n o n - v o t i n g . S u b j . t o c a ll a t 1 0 5 .
B onds— O f t h o l s t & r o f . b o n d s , $ 6 5 0 ,0 0 0 a r o r e s e r v e d t o r o t ir e t h e K . M .
& W . b o n d s , $ 5 0 ,0 0 0 f o r c o r p o r a t e p u r p o s o s a n d $ 3 ,1 2 0 ,0 0 0 f o r a d d it i o n s ,
b e t t e r m e n t s , & c . , u n d e r c e r t a in r e s t r i c t io n s .
R o d . o n a n y in t. d a te a t 10 5 .
S k . f d . 1 % b e g in n in g J a n . 1 1 9 1 7 .
I n lie u o f r e t ir e m e n t o f b o n d s , c o m p a n y

V . 95, p . 1684.
K . M . & W . 1 s t M . b o n d s a r o s u b j . t o c a ll a t 105 a n d in t
See V . 7 6 , p . 1143; V . 7 7 , p . 4 5 1 .
Dividends.— 6 % Is b e i n g p a id o n t h e p r e fe r r e d s t o c k .
E A R N I N G S . — F o r y e a r e n d . D e c . 3 1 1 0 1 3 , g r o s s , $ 4 0 7 ,1 2 8 ; n o t , $23 1 3 2 8 ; I n t ., t a x e s , d e p r o c ’n , p r e f . d i v . , & c . , $ 1 4 2 ,3 1 9 ; s u r p lu s , $ 8 9 ,0 1 0
In
1 9 1 2 , g r o s s , $ 3 4 1 ,6 8 4 ; n o t , $ 1 8 5 ,8 0 6 ; i n t . , t a x e s , d o p r e c n , p r e f . d i v
&c
5 1 0 6 ,7 7 8 ; s u r p lu s , $ 7 9 ,0 2 8 .
'
R O A D . — O p e r a t e s 3 0 H m il e s o f t r a c k in K o k o m o a n d f r o m K o k o m o t o
M a r io n a n d 2 5 H m ile s o f t r a c k , i n c l. s id in g s , b e t w e e n K o k o m o and F r a n k ­
f o r t ; t o t a l m ile s o f t r a c k , 0 2 .
I s c o n n e c t in g lin k b e t w e e n t h o T e r r e H a u t e
I n d . & E a s t . T r a c . C o . a n d t h e U n io n T r a c t i o n C o . o r I n d i a n a .
S ta n d a rd
g a u g e . 7 0 l b . T r a il. O n S e p t . 1 1 91 3 h a d 3 ,3 2 2 l ig h t a n d n o w . c o n s u m e r s .
O F F I C E R S . — P r e s . , G o o . J . M a r o t t ; V . P „ £ . j . K ir k p a t r i c k - S e c
T r e a s . & G e n . M g r . , T . C . M c R e y n o l d s ; A s s t . G e n . M g r . P H P a lm e r A u d . & A s s t . S e c . , O . C . T r e e s . — V . 9 5 , p . 1 6 8 4 ; V . 9 6 , p . 4 8 6 .'
’

LACONIA, N. H.
LACONIA STREET R A I L W A Y .
In N o v . 1 9 0 6 c o n t r o l c h a n g e d h a n d s , a n d t h e n e w I n te r e s ts a ls o a c q u i r e d
c o n t r o l o f t h e L a c o n ia E l e c t r ic L i g h t i n g C o .

O R G A N I Z A T I O N . — Formerly tho Laconia & Lakeport Street R y , hut
n a m e changed to above In 1894.
S T O C K , & c .—
Date.
Interest. Outstanding.
M aturity
C o m m o n , $ 1 0 0 ,0 0 0 (p a r $ 5 0 ) - - -----------------------$ 1 0 0 ,0 0 0
P r e f ., 6 % c u m . , $ 4 0 ,0 0 0 ( $ 1 0 0 ) _____
____ _______
40 000
F ir s t m t g e , $ 9 1 ,0 0 0 ( $ 1 , 0 0 0 ) . / 1 8 9 9
5 M -N
9 1 ,0 0 0 M a y ’ i ' i o i o
1 I n t e r e s t a t A m e r ic a n T r u s t C o . B o s t o n .
Second
m o rtg a g e .
$ 4 0 ,0 0 0 / 1 90 4
5 M -N
4 0 .0 0 0 M a y 1 1 91 9
( $ 1 , 0 0 0 ) -------------------------- — J I n t e r e s t a t P e o p le ’ s N a t io n a l B a n k . L a c o n ia .
Dividends.— I n 1 8 9 3 -0 4 . p a id 5 % ; In 1 8 9 4 -0 5 , p a id 4 % ; n o n e s in c e .

R O A D . — O w n s 8 .8 7 m ile s o f t r a c k f r o m
gauge.
11 p a s s e n g e r a n d 2 o t h e r c a r s .

L a c o n ia t o W e i r s .

S ta n d a rd

May , 1914.]

ELECTRIC RAILWAYS

E A R N I N G S .— F o r y ea rs
1911.
G ro s s ..............................$ 3 6 ,2 0 0
..............................
9 ,9 1 5
N et
O F F I C E R S .— P r e s ., H .
M u n s e y ; T r e a s ., H a r r y G .

e n d in g J u n e 30:
1910. I
1911.
1910.
$ 3 4 ,2 9 3 I n t . a n d t a x e s . . . . $ 9 ,6 3 1 $ 1 0 ,6 4 0
9 ,5 0 3 |B a l. f o r y e a r ________s u r . 2 8 4 d f . 1 ,1 3 7
L . P i e r c e , L e o m i n s t e r , M a s s .; S e c . , G e o . P .
Low e.

LA C R O S S E , W IS .
W IS C O N S IN R A IL W A Y . L IG H T & P O W E R C O .
O R G A N I Z A T I O N . — I n c o r p . In W i s c o n s i n o n J a n . 16 1 9 1 3 a n d h a s a c ­
q u i r e d a n d n o w o w n s In f e e a ll t h e p r o p e r t y f o r m e r l y b e l o n g i n g t o t h e L a
C r o s s e W a te r P o w e r C o . , th e L a C ro s s e C i t y I t y . a n d th o W in o n a ( M in n .)
R y . & L t . C o . D o e s e l e c . - li g h t & p o w e r b u s in e s s In W i n o n a , M i n n . , a n d
O n a la s k a , W i s . , a n d o p e r a t e s s t r e e t r a i lw a y s in W i n o n a a n d L a C r o s s e .
A l s o o p e r a t e s u n d e r c o n t r a c t t h e L a C r o s s e & O n a la s k a S t . R y . , a n I n t e r ­
u r b a n lin o a b o u t 3 m ile s l o n g , c o n n e c t in g t h e c it ie s n a m e d .
O wns h y d ro­
e l e c t r i c p l a n t a t H a t f i e l d , W i s . , w it h t r a n s m is s io n lin e s t o L a C r o s s e a n d
W i n o n a , a t w h ic h c it i e s i t a ls o h a s s t e a m r e s e r v e p la n t s .
STOCK AN D BO N DS—
Date.
Interest. Outstanding.
M aturity.
C o m m o n , $ 1 , 2 3 0 , 0 0 0 .................................................................$ 1 ,2 3 0 ,0 0 0
............... .............
F i r s t & r e f, M $ 1 0 ,0 0 0 ,0 0 0 / 1 9 1 3
5 F -A
2 ,0 0 0 ,0 0 0 F e b 1 1933
( $ 1 , 0 0 0 ) , g o l d ................ c * t f ( F i r s t S a v in g s & T r . C o . , M i l w . , T r u s t e e ,
L a C r o s s e C i t y R y 1 s t M l 1 90 9
5 g J -J
2 2 0 ,0 0 0 J u l y 1 1 9 2 9
(c l o s e d M ) ( $ 1 , 0 0 0 ) _____c \ I n t . a t W i s c o n s i n T r . C o . , M i l w . , T r u s t e e .
Stock.— E n t i r e s t o c k p l a c e d in e s c r o w f o r 5 y e a r s u n d e r a v o t i n g t r u s t

B onds __ O f t h e $ 2 ,0 0 0 ,0 0 0 1 s t & r e f . b o n d s o u t s t a n d i n g , $ 8 0 0 ,0 0 0 h a v e
b e e n d e p o s i t e d w it h t r u s t e e b y o w n e r s , u n d e r a n a g r e e m e n t w 'h ic h p r o v i d e s
t h a t w h ile s o in e s c r o w , t h e y s h a ll b e s u b o r d i n a t e a n d j u n i o r in e v e r y
r e s p e c t t o $ 1 , 2 0 0 ,0 0 0 b o n d s s o l d t o t h e b a n k s .
S u ch escrow b o n d s can b o
r e le a s e d f r o m e s c r o w o n l y in l o t s o f $ 5 0 ,0 0 0 o r m u l t i p l e s t h e r e o f , u n d e r
c e r t a in r e s t r i c t io n s .
T h e m t g o . p r o v i d e s t h a t $ 2 ,2 2 5 ,0 0 0 m a y b e is s u e d a t
p ar fo r corp o ra te p u rp oses o f th e c o m p a n y .
B o n d s in a d d i t i o n t o t h e
$ 2 , 225,000 m a y b e is s u e d a s f o l l o w s : $ 2 2 0 ,0 0 0 t o r e t ir e L a C r o s s e C i t y
b o n d s a n d $ 7 5 ,0 0 0 t o r e t ir e a lik e a m o u n t o f b o n d s w h ic h m a y b e is s u e d f o r
c e r t a in a d d it i o n a l p r o p e r t y : r e m a in in g b o n d s a r c I s s u a b le a t p a r ( a ) t o
r e d e e m a t p a r a n y u n d e r l y i n g b o n d s o r a n y m t g e . d e b t e x is t in g a g a in s t
a n y p r o p e r t y a c q u ir e d , n o t e x c e e d in g , h o w e v e r , a t p a r , th e r e a s o n a b le
v a l u e o f s u c h p r o p e r t y ; a n d (6 ) f o r n o t e x c e e d i n g 7 5 % o f c o s t o f a n y a d d i ­
t io n a l p r o p e r t y , w i t h c e r t a in r e s t r i c t io n s .
B o n d s re d . o n a n y in t. d a t e a t
Sinking fund, 2 % p e r a n n u m , b e g i n n i n g 1 9 1 8 . I n t . p a y a b l e
105 a n d In t.
a t o ffic e o f tru ste e o r a t o ffic e o f c o m p a n y o r its N e w Y o r k a g e n c y .
R O A D . — 2 4 m ile s o f t r a c k .
O F F I C E R S . — P r e s . , C l e m e n t C . S m i t h . O p e r a t io n s w il l b e d i r e c t e d f r o m
P r e s i d e n t ’ s o f f i c e in M i l w a u k e e in c o n n e c t i o n w it h t h e o p e r a t i o n s o f t h e
W i s c o n s i n P u b l i c S e r v i c e C o . a n d o t h e r W i s c o n s i n p r o p e r t ie s . V . 9 8 , p .0 9 2

L A K E CHARLES, L A .
L A K E C H A R L E S R A I L W A Y . L IG H T & W A T E R W O R K S C O .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In L o u is ia n a In 1 9 0 9 .
In J u n e 1909
t h e c o m p a n y a c q u i r e d t h e L a k e C h a r le s S t r e e t R y . C o . , o p e r a t i n g a n e l e c t r i c
r a ilw a y In L a k e C h a r le s a n d L a k e C h a r le s I c e , L i g h t & W a t e r w o r k s C o . ,
w h ic h o p e r a t e s a n Ic e p l a n t , e l e c t r i c - l ig h t a n d p o w e r d e p a r t m e n t a n d
w a ter s y s te m .
Franchises e x p i r e : s t r e e t r a i lw a y , 1 9 4 1 ; e l e c t r i c l ig h t a n d p o w e r , 1 9 2 6 ;
w a t e r w o r k s , 1 9 1 6 , s e l f- r e n e w i n g e v e r y 5 y e a r s t h e r e a f t e r u n le s s c i t y b u y s
p la n t.
STOCK AN D BO N D S—
Date.
Interest. Outstanding.
Maturity
$ 2 0 0 ,0 0 0 ................. ..
S t o c k , $ 2 0 0 ,0 0 0 ......... ....................................................................
F ir s t m o r t g a g e , $ 5 0 0 ,0 0 0 g l 1 9 0 9
6 g F -A
2 4 0 .0 0 0
See text
($ 5 0 0 a n d $ 1 , 0 0 0 ) .............. c * \ I n t e r - S t a t e T r u s t & B k g . C o . . N e w O r l . , T r .
Bonds .— R e m a i n i n g b o n d s a r e f o r I m p r o v e m e n t s a n d e x t e n s i o n s o n b a s is
o f $1 In b o n d s f o r e a c h $1 3 3 o f I m p r o v e m e n t s , & c .
B o n d s m a t u r e $ 1 5 ,0 0 0
s e m l- a n . f r o m A u g . 1 1 9 1 2 t o F e b . 1 1 9 2 2 , b o t h I n c lu s iv e ; b u t r e d e e m a b l e
o n a n d a f t e r A u g . 1 1 9 1 4 o n a n y I n t . d a y o n 3 0 d a y s ’ n o t i c e . I n t . Is p a y a b le
a t o f f i c e o f t r u s t e e o r a t C h ic a g o S a v in g s B a n k & T r u s t C o . , C h ic a g o .
$ 6 0 ,0 0 0 h a s b e e n r e t ir e d .
R O A D c o n s is t s o f 9 m ile s o f t r a c k .
6 0 - l b . r a ils .
O F F I C E R S . — P r e s . . J . A . L a n d r y ; S e c . . P . O . M o s s .— V . 8 9 . p . 9 1 9

LANCASTER, PA.
L A N C A S T E R C O U N T Y R A IL W A Y & L IG H T .
C o n t r o l l e d b y t h e U n it e d G a s & E l e c . C o r p . — S e e u n d e r N e w Y o r k .
O R G A N I Z A T I O N . — I n c o r p o r a t e d o n J u n e 15 1 90 1 In N e w J e r s e y . O w n s
a n d c o n t r o l s t h e f o ll o w i n g r a i lw a y , g a s a n d e l e c t r i c p r o p e r t ie s , w h o s e s t o c k s
a re p la c e d u n d e r th e m o rtg a g e o f 1901:
C o n e s to g a T r a c tio n C o .,
I E d is o n E l e c t r i c C o .
L a n e . G as L ig h t & F u e l C o .,
|
A l s o c o n t r o ls t h e C o n e s t o g a R e a l t y C o .
Franchises a r e p e r p e t u a l . D o c s a ll t h e g a s a n d e l e c t r i c lig h t i n g In c it ie s
o f L a n c a s t e r a n d C o l u m b i a , a n d p r a c t ic a l l y a ll In L a n c a s t e r C o u n t y .
STOCK AN D BO N D S—
Date.
Interest. Outstanding.
M aturity.
S t o c k c o m $ 1 , 3 5 0 ,0 0 0 ( $ 5 0 ) .................
Q -M
$ 1 ,3 4 5 ,0 0 0 I n 1 9 1 3 ,1 2 %
P r e f $ 1 , 5 0 0 ,0 0 0 (3 5 0 ) 5 % c u m . ------Q -M
1 ,0 0 0 ,0 0 0 I n 1 9 1 3 , 5 %
M o r tg a g e ,
$ 1 , 0 0 0 ,0 0 0
g o ld )
190 1
5 g J -J
1 , 0 0 0 .0 0 0 J u l y 1 1951
($ 5 0 0 a n d $ 1 ,0 0 0 ) . . . c * n t f l I n t e r e s t a t L a n c a s t e r T r u s t C o . , T r u s t e e .
Securities of Lines Controlled—
4 J -J
1 ,2 7 7 ,5 0 0
J a n 1 1950
C o n e s t . T r a c 1 st M $ 2 , 0 0 0 , 0 0 0 ' '1 9 0 0
( $ 1 0 0 , $ 5 0 0 * 5 1 , 0 0 0 ) _ . c * t f I n t . a t P r o v . L i f e & T r . C o . , P h ll a . , T r u s t e e .
1890
5 g A -O
1 6 0 ,0 0 0 A p r . 1 1 92 0
L a n c a s t e r C it y R R 1 s t M
($ 1 0 0 a n d $ 5 0 0 ) ----------- c * t f I n t . a t M e t r o p o li t a n T r . C o . , N . Y . , T r u s t e e .
1891
5 M -N
2 2 5 ,0 0 0 M a y 1 1921
W E S t R y 1 s t M $ 2 2 5 ,0 0 0
($ 1 0 0 a n d $ 5 0 0 ) ------- c * t f I n t . a t M e t r o p o li t a n T r . C o . , N . Y . , T r u s t e e .
1 89 3
5 A -O
2 2 5 ,0 0 0 A p r . 1 1 92 3
L a n c a s . T r a c 1 st M ($ 1 0 0 .
$ 5 0 0 & 5 1 , 0 0 0 ) _____c * t f I n t . a t L a n c a s t e r T r u s t C o . , L a n e ., T r u s t e e .
3 0 ,0 0 0
.........................
C o n e s t o g a T r a c c a r t r u s t s e p t ...................................
1895
5 J -J
3 0 0 ,0 0 0 J a n 1 1 0 2 5
L a n e G L & F 1 s t M $ 300,000
( $ 1 , 0 0 0 ) ________________ c n t f I n t . a t L a n c a s t e r T r u s t C o . , L a n o ., T r u s t e e .
1906
5 J -J
1 0 0 ,0 0 0
J a n 1 1036
S e c o n d m o r t g a g e $ 4 0 0 ,o o o
(5 1 ,0 0 0 ) ______________c * t f I n t . a t L a n c a s t e r T r u s t C o . , L a n e ., T r u s t e e .
1911
J -J
1 0 0 ,0 0 0
J a n 1 1036
T h ir d m t g o $ 1 0 0 ,0 0 0 g o ld
(8 1 ,0 0 0 )
c * t f / I n t . a t L a n c a s t e r T r u s t C o . . L a n e ., t r u s t e e .
C o lu m b ia G a s C o 1 st i n t g e ] 1911
5 - J -J
7 5 ,0 0 0
J a n 1 1941
$ 2 0 0 ,0 0 0 ( 3 1 ,0 0 0 ) . . o ’ t f l i n t , a t F a r m e r s ’ T r . C o . , L a n c a s t e r . T r u s t e e .
E d is o n E l e c C o 1 s t & r e f M l
1913 5 F -A
1 ,0 0 0 ,0 0 0 F e b 1 1 9 4 3
$ 5 , 000,000 ------------------------- t f ( L a n c a s t e r T r u s t C o . , L a n c a s t e r , T r u s t e e .
E d is o n E l e c I li u m C o l s t f
1895 5 J -J
3 0 0 ,0 0 0 J u l y 1 1 9 2 5
M $ 3 0 0 ,0 0 0 ( $ 1 0 0 , $ 5 0 0 / I n t e r e s t a t L a n c a s t e r T r u s t C o . , L a n c a s t e r ,
a n d $ 1 ,0 0 0 ) ----------c & r t f l
T ru stee.
C o l E l L , H & I> 1st M g o l d l
1 9 0 5 5 M -N
1 2 5 ,0 0 0 M a y 1 1 9 3 5
$ 1 2 5 ,0 0 0 ($ 1 ,0 0 0 ) . c & r t f / I n t . a t P e o p l e ’ s T r u s t C o . , L a n c a s t e r , T r u s t .
C o n e s t o g a R e a l t y C o 1st M l
1 90 8 5 M - N
2 6 5 ,0 0 0 M a y 1 1 9 5 8
$ 500 , 0 0 0 s l n k i n g f u n d g c - . t f l n t . a t L a n c a s t e r T r u s t C o . , L a n e ., T r u s t e e .
Bonds .— O f C o n e s t o g a T r a c . 1 st M . b o n d s $ 6 1 0 ,0 0 0 r e s e r v e d t o r e t ir e
p r io r lie n s ,
$ 1 1 2 ,5 0 0 r e s e r v e d t o b e u s e d f o r t h e r e d u c t io n o f r e n t a l s .
Of
L a n o . G a s L t . & F u e l 2 d M . $ 3 0 0 ,0 0 0 a r c r e s e r v e d t o r e t ir e 1 st M . b o n d s .
L a n o . G a s L t . & F u e l 3 d M . b o n d s a r e r e d e e m a b le a t 1 0 5 a n d I n t . o n a n y I n t.
d a te on 3 n io s ’ n o t ic e .
C o lu m b ia G a s C o . b o n d s a r e r e d . o n a n y I n t . d a t e a t
10 5 a n d I n t . o n 90 d a y s ’ n o t i c e . $ 1 2 5 ,0 0 0 r e s e r v e d f o r f u t u r e I m p ’ ts a t
8 5 % o f c o s t th e r e o f.
O f E d is o n E l e c t r i c C o . 1 st & r e f . b o n d s . $ 4 2 5 ,0 0 0
r e s e r v e d t o r e t ir e u n d e r l y i n g b o n d s ; $ 3 ,5 7 5 ,0 0 0 h e ld In t r e a s u r y f o r I m p ’ ts,
e x t e n . . & c . , a t 8 5 % o f c o s t t h e r e o f. C o lu m b ia E l c o . L t . , H . & P . b o n d s a re
r e d . a t 11 0 a n d I n t . o n a n y I n t . d a t e .
T h e b o n d s are g u a r , b y th e L a n o.
C ou n ty R y . & L t. C o.
C o n e s t o g a R e a l t y C o . b o n d s a r c r e d . a t p a r a n d In t.
o n a n y In t. d a t e o n o r a f t e r J a n . 1 1 9 1 5 , u p o n 3 m o s . ’ n o t i c e .
S in k in g fu n d
a n a m o u n t s e t u p m o n t h l y s u f fi c ie n t t o r e t ir e b o n d s a t m a t u r it y .
Dividends .—