The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Electric Railway
SECTION
O TH
F
E
C ommercial & F inancial ^ hronicle.
Copyrighted In 1918accordIng to Act of Congress, by WILLIAM B.DANA COMPANY, In office of Librarian of’Congress, Washington, D .C.
Vol. 106.
N EW YO RK, M A Y 25, 1918.
E lectric R ailway S ection .
The Electric Railway Section, Issued three times a year, in January,
M a y and September, i furnished w ith o u t ex tra c h a r g e to every annual
s
subscriber of. tho Commercial & Financial Chronicle.
The Railway and Industrial Section, Issues throo times a year on tho
last Saturday of February, Juno and October, i also furnished w ith o u t
s
e x tra c h a r g e to every annual Chronicle subscriber.
Tho Railway Earnings Section, issued monthly, containing tho sworn
returns of earnings and oxponses filed each month with tho Intor-Stato
Commorco Commission, i likewise furnished w ith o u t e x tra c h a r g e to ovcry
s
annual Chronicle subscriber.
Tho State and City Section, issued semi-annually on the last Saturday
of M a y and November, I also furnished w ith o u t e x tra c h a r g e to every
s
aunual subscriber of tho Chronicle.
Tho Bank and Quotation Section, Issued monthly, i also furnished
s
w ith o u t e x tra c h a r g e to overy annual subscriber of the Chronicle.
Tho Bankers’ Convention Section, issued yoarly, giving tho detailed
proceedings of tho annual convention of tho American Bankers’ Associa
tion, i likewise furnished w ith o u t e x tra ch a r g e to Chronicle subscribers.
s
Terms for tho Chronicle, including tho six supplements above named,
aro Ton Dollars por annum within tho United States, Thirteen Dollars
(which includes postago) in Europe, and SI 1.50 in Canada.
File covers for tho Chronicle aro sold at 80 cents each (which includos
postago). File covers for Supplements can bo had at samo price.
C H I C A G O OFFICE.— 39 South La Sailo Street.
L O N D O N OFFICE.— Edwards & Smith, 1 Drapers’ Gardens, E. C.
WILLIAM
B. D A N A C O M P A N Y , Publishers,
Front, Pino and Dopoyster Streots, N o w York.
E X P L A N A T IO N S OF TERMS A N D
TIONS USED.
A BB R E V IA
The following is an explanation of the terms and
abbreviations used on succeeding pages in the pre
sentation of the statements of the different com
panies:
“S T O C K A N D B O N D S . ”— Under these words aro shown—
The amount of stock a u th o r iz ed immediately follows tho word
“stock,” and against this i tho par value of single shares. For oxamplo,
s
“Stock, $200,000 ($100),’ means stock, total issuo authorized by charter
’
or by Act of Legislature, $200,000, divided into shares of $100 each; “f p."
.
following tho amount given as outstanding means “f l paid.”
ul
“Prof.” means “preferred stock.” “Prcf. 6 % cum.” moans preferred
stock entitled to dividends of 6 % per annum, such dividends i not paid
f
accumulating, a l dividends duo and unpaid to bo paid in f l for eacli
l
ul
and overy year before tho common stock receives anything. “Prof. 6 %
non-cum.” means simply that tho stock i entitled to 6 % por annum i
s
f
earned, but that i unearned in any year tho dividend for that year w l
f
il
not bo paid subsequently. “Div.” means dividend. Tho last dividend
paid i shown under tho column headed “ M a t u r i t y . ”
s
“ B o n d s .” — “Mort.,” “intgo.” or “M . ” moans mortgage. “Consol.” or
“con. M . ” means consolidated mortgago. “Gen. M . ” means goneral
mortgago. “Kef. M . ” means refunding mortgago. “Coll, tr.” moans
collateral trust. Tho amount next following i tho total authorized
s
amount that can bo issued under tho mortgago. Tho denominations in
which tho bonds aro Issued usually follow in parentheses. Tho word
“gold” i usually spelled out, but in some instances i contracted to “g.,”
s
s
while “cur.” means currency.
“Conv.” means convertible into stock. “S. f ” moans sinking fund,
.
“c.” moans coupon; “c*” moans coupon but may bo registered as to prlncipal; “r” means fully registered (no coupons); “r*” moans registered,
convertible into coupon bonds; “c*&r*” means roglsterable in either form
and convertible from registered to coupon or tho reverse; and “c*&r” means
that registered certificates without coupons as well as coupon bonds are
outstanding. Tho lottors “p.m.” mean per mile, so $15,000 p.m. means
that tho Lssuo of bonds i restricted to $15,000 for each mile of track.
s
“ Guar.” moans guaranteed, and “guar. p. & i (end.)” means guaranteed
.
as to principal and interest,’ tho guaranty being ondorsod on each bond.
“Bed.” moans redoomablo. “Trus.” or “t . means trustee of tho mort
r”
gago.
“ S to c k .
”—
No. 2761.
T A X E X E M P T I O N . — Where there i a provision in bond or mortgage
s
which would seem to make the interest free from the Federal income tax,
wo indicate tho fact in black-faced letters— t , meaning tax-free. The
f
Federal Act approved Oct. 3 1917 provides, however, that only one normal
2 % incomo tax shall bo deducted at the sourco and that a l further Federal
l
incomo taxos shall bo met by the recipient of tho incomo. See terms of Act
in V. 105, p. 1373. Whero there L no tax covenant we insert the letters
s
ntf, meaning n o t tax-free, tff means free from normal Federal income
tax up to 4%. Whero we have no knowledge other than that the company
has assumed or i paying the tax, we insert tho lottors cpt, which means
s
that c o m p a n y p a y s t a x , a t lea st f o r th e p r e s e n t
Until the courts have passed
both upon tho various features of tho tax and tho effect of the several tax
clauses in tho bonds and mortgages, i i impossible to givo more definite
t s
information.
“D A T E . ”— The date of Issue on the face of the bonds i indicated
s
under tho word “ D a t e . "
“I N T E R E S T . ”— Under this heading i given the rate per cent yearly
s
of tho interest payablo on tho bonds or ( f guaranteed) of the dividend
i
payablo on tho stock; also tho months when tho interest or dividend i
s
payablo; thus “0 J-J” means 6 % per annum payable January and July;
correspondingly “F-A” i used to mean February and August; “M - S ”
s
means March and September, and so on; while “Q-J” means quarterly
beginning in January, and “Q-F” quarterly beginning in February. (The
day when the interest payment i due can generally be determined by
s
noticing when the loans mature, the day of tho month there given being
in most cases the samo as for one of the interest dates.) “S.-a.” means
semi-annual.
“R O A D . ”— The word “track” means in street railway parlance a l
l
tracks, whether main l n , siding, switch or second track. “Rails are
ie
80-lb. girder” means that each r i weighs 80 pounds to the yard, “k.w.”
al
means kilowatts and “h.p.” means horsepower, “k.v.a.” means kilo-voltampercs. “P-A-Y-E cars” means pay-as-you-enter or prepayment cars.
“i
$xts., add’ and impts.” means extensions, additions and improve
ns
ments. “Auth.” means authority or authorized. “Oth. inc.” means
other income. “Cal. year” means calendar year.
R E F E R E N C E S T O “C H R O N I C L E . ”— This supplement i expressly
s
intendod for use in connection with the investment news and o f
f icial reports
published from week to week in the "Chronicle.” Frequent reference i
s
therefore made to the volume and page of tho “Chronicle” (as V. 106, p.
000), whero fuller information may be found. Following also each state
ment i given a reference to tho latest news item in the “Chronicle” re
s
specting the company. As every such item contains a reference to tho
last preceding item, the reader can run back at pleasure. Annual reports
aro in black-faced figures.
M A P S A PP E A R IN G
IN
T H IS ISSU E.
For the purpose of showing in a graphic way the
location of their lines, a few of the more important
systems described in this issue of the “Electric Rail
way Section” are accompanied by maps. The fol
lowing furnishes a list of these maps, together with
the pages on which they appear.
L I S T OF M A P S .
Page.
Brooklyn Rapid Transit System___________________________
14
Cumberland County Power & Light C o _________________ 105
Detroit United Railway System_____________________________38
Georgia Light, Power & Railways_________________________ G4
Illinois Traction System____________________________________ 20
Now Orleans Railway & Light C o _______________________ 7G
Now York Municipal Railway Corporation_____________
15
Pacific Gas & Electric C o _______________________ __________114
Public Servico Corporation of New Jersey_______80 and 81
United Gas & Electric Corporation_______________________ 84
United Light & Railways C o -------------------
48
Electric R ailways.
SECURITIES AND REPORTS
This is one of our six Sections or Supplements. In using the series it is to be remembered that they are inter-dependent
as a whole. If utilized together, and with the fresh items of news the “ Chronicle” oontams from
week to week, the investor will have all the information he needs in seeking a safe and remunerative lodgment for his m oney.
A full Index showing where each company will be found is given in the closing pages of the book._____________
DubUoat'ons Complete only
STOCK A N D BONDS—
D a te
In terest.
O u tsla m lv n g .
M a t u r it y .
1st M Can & N P, $1,000.0001 1903
6 K F-A
565,000 Feb 1 1923
gold (S1.000)______c*.tf IInt. at Am. Ln. Sc Tr. Co.. Boston, Trustee.
B o n d s .— O f the $2,500,000 consolidated bonds, $1,243,000 are pledged
under N.
e . mtgo., and $290,000 are resorved for
stock of the Northern Ohio Trac. & Lt. Co. Also controls the Kent Wator and Imp. O. T. & L. 1st & r f Reed Anthony. Boston, i also trustee. oxtens.
at 8 5% ofeost. 8.
s
V.91,
D. 1628. 1765. Neither issue i subjoct to c l . Tho Canton-Now Phila
s
al
& CAPrri°LIZATION. 75,000 shares of common stock (no par value)
—
delphia bonds may be called as a whole at 105 and Int. on 3 mos. notice.
$6,000,000 6 % cum. pref. stock (par $100) prof, as to assets and divs.;
:
D iv id e n d s . — Pref. stock was issued ln 1911 and dividends of 114% quar.
callable at 105 and divs.; dlv3. payablo Q.-M. Dividends on pref. stock,
are regularly paid. Dividends on com. were begun bn 1900 by the declara
WeHodeiwlMlIardV & C o . Inc.. N. Y.. and E. W . Clark & Co.. Phlla.. tion of 2%, payable in quar. installments of 14% from Juno 15 1906.
,
under whose direct supervision and management the properties are oper V. 82. p. 1213. In 1907 2 % was again declared, Payablo in quar. In,
ated, brought out the $6,000,000 pref. stock in Oct. 1916 on the basis of •tallmonts from June 15 1907. In 1908, June, & ^ 8eI^•’K/ft’
In 1909, 1 H % . In 1910. 214%. In 19H. 3H%.„,In 1912, 4 M % - In
10 shares of pref and 5 shares common stock for 31,000.
1913 to 1916, 5 % per annum. In 1917. March, 11£%: M a y , 114%: Aug.,
E A R N I N G S . — Of constituent companies for calendar years:
1 y . % - Nov., 114%- Practically a l of tho common stock being owned by
l
Surplus
C h arges
Y ear—
G ross.
E xp en ses
'
N et
Ohio Electric Corp., dividends aro no longer reported.
1917...... $5,236,399 $4,524,275 $2,444,760 SI.522,919 $921,841 the NorthernLine extends from Cleveland through Akron, Canton, M a s
PL A N T . —
1,414,270 1.121,093
1916
- 6,469,035 2,701,036
2,535.363
sillon and N e w Philadelphia to Uhrichsvllle in Tuscarawas County. with
L a te s t E a r n in g s — Three months ondod March 31:
S421.819 $152,628 branches to Ravenna (via Kent), to Wadsworth (via Barberton) and to
1917
... -$1,680,690 $1,106,243
$574,447
218,288 East Greenville from Massillon. On Dec. 31 1917 operated 246.ol miles of
375.292
1916
. 1,512,629
919,049
593,580
track, and operated 5 miles under trackage rights affording an entrance Into
V.ToT.'p. 362. 664, 1703; V 106, p. 396, 1127.
Cleveland. Owns Lakeside Park In Akron and Meyers Lake Park In
Canton. Also owns 1,011 acres of coal land in Noble County. Rails.
Over 99%' of^tho*com ! stock isowned by the Northern Ohio Electric Corp. 70 to 114-lb., standard gauge. 84 interurban, 265 city and 37 miscel
O R O A N I Z A T I O N . — Incorp. in Ohio in Doc. 1902 as successor to the laneous cars. Does tho exclusive commercial olectric light and power
Northern Ohio Traction Co., having exchanged i s securities for the com business in Akron and supplies energy, directly or indirectly, to 9 other
t
mon and pref. stock of the latter per terms in V. 75. p. 733. In 1906 communities. 3 generating stations with an aggregate Installed capacity
arnulred control of the Canton-Akron Consol. Ry., ancf guarantees that of 52,875 k.w.; 17 sub-stations. A n additional 20,000 k.w. turbine was
company’ $2,500,000 consol. 5s, prin. and int. V. 83, p. 435, 849. Also to havo been placed in operation on M a y 1 1918. A 4-story oftice building
s
owns entire capital stock of Akron Wadsworth & Western Trac. Co. and and passenger terminal in Akron was to havo been ready lor occupancy
guarantees i s oonds^prin. and int. C o m m o n stock listed on N. Y. Stock on M a y 1 1918.
t
, ,
r
011_,.
R E P O R T . — For calendar years (1917 report in V. 106, p. 2117).
EmnchisM.— Th?el«:tric light and power properties are operated under C a le n d a r
G ro s s
N et
I n t e r e s t , I r e f. LHv. C o n i.D i o . B a la n c e ,
rights without specified limit as to duration. City ra way franchises oxpiro
Y ear— •
E a r n in g s .
E a r n in g s . T a x e s , & c
(6%).
(5%). S u r p lu s .
as follows: Akron, 1924: Canton, 1928: Massillon. 1932. 55 % of tho inter 1917-.... S6?389,609 $2,101,638 $981,860 $290 196 $'177,752 $4lf 129
urban trackage i on private right-of-way or subject to franchises without 1916______ 5,170,442 2,272,604 887,661 271.106 450,000 663,837
s
time limit; franchises for remaining interurban mileage expire from 1919
OFFICERS.— Pros., B. O. Cobb. N. Y.; V.-P.. 1. A. lConnoy, N. Y.
V.-P., Treas. Sc Gon. Mgr., A. C. Blinn; Sec., Ohas. I . Lahr: Asst. Sec. Sc
I
t0On3Oct 19 1915 tho Ohio Supreme Court held that the franchise granted Asst. Treas., S. E. Wolff and G. H. Bourno; Gon. Aud., Jas. Swoeney.
for an Indefinite period by tho Stark County Commissioners in 1892 (cover — V. 105, p. 2366, 2273, 2456; V. 106, p. 86, 396, 608 , 2011, 2117.
ing about 4 'A mllos between Canton and Massillon outsido the city limits)
was not perpetual as claimed by the company— see V. 101. P* 13m . The
company appealed to tho U- S Supremo Court, and on Jan 28 1918 a de
ALBANY, N. Y.
cision In I s favor was rendered. V. 106, p. 608.
t
UNITED TRACTION COA1PANY,
In Oct 1917 renewed for 5 yoars a contract for lighting city of Akron.
Entiro stock (except 4 shares) i owned by The Delaware & Hudson Co.
s
Shareholders Jan. 24 1914 sanctioned increase in auth. amount of prof,
stock to $5,000,000 for financing further additions, extensions. &c. V . 98. V. 81 P. 1552; V. 82. p. 160. ThelD. & U. also owns tho ontlro stock of tho
p. 74 . On Oct. 2 1916 auth. amount of pref. stock was further increased Troy & N e w England RR. and tho Plattsburg Traction Co. and a half
interest ln tho Schenectady Ry.. the N o w York State Itys. owning other half.
O R G A N I Z A T I O N . — Chartered Doc. 30 1S99 as a consolidation of the
0 On°ADrii°14)
i914! after extended negotiations, conveyed to city or Akron
Albany R y .(chartered In 1850), tho Watorvliet Turnpike & R R . (chartered
certain Cuyahoga River water rights for $348.00(L
In M ar 1918 the co . appoaled to tho Supromo C ourt from a decision of ln 1862) and tho Troy City Ry. (chartered In 1850). See V. 69. p. 1147.
tho C ourt o f Appoals which held that tho co. must operate its Interurban 1300- V 70 p. 77. Operates under leases to tho constituent companies,
cars within city limits tho samo as city cars, charging tho samo faro and the Troy & Cohoes RR., Lansingburgh & Oohoos RR., Waterford Sc Cohoes
RR., Cohoes Ry. and the Capitol Ry. Owns 9 7% of the stock of the
iSSEan I n c r e a s e ? — In Sept. 1917 filod a new schedule of Interurban passenger nudson Valley Ry.. 7 1% of tho Waterford & Cohoes RR.. 8 0 % of the
re
rates with tho Ohio P. U. Commission, raising the rates generally to 2c. a Forest Park Ry. and a l tho capital stock of tho Capitol Ry.. Cohoes Ry.
l
and Groat Western Turnpike Road.
, ,
^ W a o 7 i n c r e d s e i — In*Nov. 1917 tho men wont out on strike for about a
The Cohoes City Ry. was sold at foreclosure in 1904 and reorganized as
week but finally accepted tho increase of 5 cents per hour originally offered Oohoos Ry. Co., with $120,000 stock and $84,000 bonds; all of tho stock
and bonds are deposited with tho Central Trust Co. of N o w York as security
thFaiiing to find a market at 85 for $1,532,000 1st lien & ref. 5s authorized for bonds of the Albany Ry.
„_
,
.
, .
,.
.
bv the Ohio P. U. Comm., the Co m m . auth. and in Dec. 1917 the co.
A c q u is i ti o n o f H u d s o n V a lle y .— In Doc. 1906 acquired a majority of the
issued $1,000,000 secured serial 7 % gold bonds at par, to pay for lmpts. stock and bonds of the Hudson Valley Ry. Co. and increased i s own stock
t
from $5,000,000 to $12,500,000 to finance the purchase. V. 84, p. 52.
m s T O O K 9 N i ? B O N D S — ’ 1 Date. 2^Interest, Outstanding. Maturity.
A
0
F r a n c h is e s perpetual excopt that of tho Oapltoi Ry. (a short lino on the
.....
Stock, com. $10.000.000($100) — - ----« 8??1 nn An^'ls 1 K outskirts of Albany), which oxpires in 1951.
t? t
T r a f f ic A g r e e m e n t s .— lia s , traffic agroomonts with the Albany Southern
» » 5gJ F-A
*4^43’000Aug 1 1 9 $ RR., Schenectady Ry. and Hudson Valley Ry. by which cars of the f r t
,
is$500 $ 1 0 0 ™ “ c ) c4r*.’ mt. payable in N. Y. or Cleveland.
.
named road are run into Albany from Rensselaer, cars of the Schenectady
N o r t h e r n Ohio Trac. mortf 1899 5 g J-J
2.995.000 July 11919 Ry. into Albany, Troy and Watervliot, and cars of tho Hudson Valley Ry.
N g.$3 .
g 1 3 000,
000 OlHJ (SI 0M)c*Afv Qr oltlzen8. Sav. & Truat CN.Y., Trustee, into Troy from Waterford aud in Albany.
0M isi.wim- -m {Interest at Central Trust Co.. o . Cleveland.
_
___
,
Electric power I furnished under contract by Adirondack El. 1 ow. Corp.
s
Northern Ohio Traction
1903 43c5 g J-J
3,220.000 Jan 1 1933
FareS._In M a y 1917 a petition was filod with the P. 3. Comm, request
Light 1st consol ($1,000), Int. at Cit.8av.ATr. Co. Cleve., Trustee, ing auth. to charge 6 conts local faro. S i l.pending. Other applications for
tl
cold 1 7 500 000
_c*-tf l or at First Nat. Bank, N e w York.
faro increases on company’ lines also ponding.
s
Ak°Wads & Weet mortgage, j 1900
5g
See text July 1 1933
STOCK A N D BONDS—
D a te .
I n t e r e s t . O u ts ta n d in g .
M a tu r ity .
Stock (par $10()) $12.500,000_____
4 J-J
$12,500,000 See text
8ecured°sedaH)onds^S 1 5 f -i 1917 7 g J-D
l,
1,000.000 See text
M f f i
l i S o f f i o l d 1901
414 g M - N
456,000 M a y 1 1919
5 000 bds ($l.000)goldL.c*{Guaranty Trust Co.. N o w York, Trusteo.
-*
- -i*>
($1,000).......... r-ntf Int. at National Commercial Bank. Albany.
S tock — Of the common stock, $9,000,100 i outstanding, in addition to
s
1904
414 g J-D
Juno 1 2004
which $999,900 has been subscribed for but not yet issued. The pre Cons mtge, $6,500,000, gold int. at Central Trust2,620,000 Y.. Trustee.
___ _
_
Co.. N.
($1.000)........ ---c* tf
ferred stock i redeemable, a l or part, at 110 and div. on any div. date after Albany Ry cons M ($500,000/ 1890
s
l
6 g J-J
428,000 Jan 1 1930
Anril 1 1919. Is pref. as to div. and assets and has fu l voting power.
l
gold ($1 000)
- -c*.ntflint, at Contral Trust Co., N. Y., trustee.
V 92. p. 956; V. 95, p. 48: V. 97, p. 1116.
, ,
., x
,
$750.000 1897
5 g J-D
496.000
Bonos . Additional 1st lien and r f bonds may be issued a) par for par, Albany Ity gen M _____ tfllnt. at Central Trust Co., N. June1 1947
—
e.
__
Y., trustee.
for refunding or acquiring tho $9,632,000 underlying bonds; (b) for 85%
Watervllet Turnpike & R R — \ 1889
6 M-N
^.a r ^ 1919
3
of cost of new construction, additions, betterments and extensions and
1st M guar
......ntf/Boston Safe Don. Sc Tr. Co., Trustee.
( ) for 85% of cost or replacement value of additional properties, under
c
2d M { p & hit guar!__ ntf f 1890
6 M-N
150 000 M a y 1 1919
conservative restrictions. Tho bonds are secured by mortgago on entire
\
Trust Co.. N. Y.. Trustee.
property, subject to underlying l ens, and by deposit of $4>000 of 5s and Troy City 1st con M , gold.l MetropolitanA-O
i
1892
5g
2,000.000 Oct 1 1942
El $76 000 of 4s of Nor. Ohio Trac. Sc Lt. bonds of 1933, $1,243,000 Canton$2 000 000
______ c*&r JInt. paid by Trustee. Contral Trust Co..N. V.
Akron consol 5s of 1933, $200,000 Akron Wads. & West. 5s, $5,000 Nor.
B o n d s . — Of the consol, mtgo. or 1904, $3,880,000 i reserved to retire prior
s
Ohio Tract lst 5s of 1919, $5,000 Canton-Akron 1st 5s of 1922. $10,000 Can- liens. N o sk.fd. and bonds aro not subj. to call. Directors may fix rate of
ton-Massillon 1st 5s of 1920. Redeemable as a whole, or in part, on any in . int. on unLssued bonds butnotoxcoeding6%; prosont issuei at 414 %• Pho
t
s
date at 105 and interost. Tho mtgo. provides for a maintenance and debs, may bo called on any int. dato on 3 moa._ notice at a 5 % Int. rate for
depreciation fund of 2 0 % of gross earnings for malnt. and replacements, the unexplred term as calculated in standard Int. tables.
V. 73, p. 1113.
or for additions and botterments, against which no bonds may be issued;
The Albany Ry. general
also provides for an insurance reserve for damago claims, &c., of 4 % of $254,000 was reserved, but mortgage of 1897 was for $750,000. of which
consolidation made reservation inoperative.
gross earnings until $100,000 i reached, at which figure the fund i to bo
s
s
The Troy City leased roads include Troy Sc Cohoes, stock $50,000. divs.
maintained. Trustees are N e w York Trust Co., N. Y., and Citizens Savs.
c
6 Trust Co ,Cleveland. V. 103, p. 1210. Tho Northern Ohio Trac. 5s of under lease, 7%; Lansingburg 3 Oohoos, stock, $15,000: divs. under lease.
1899 were listed on the Phlla. Stock Exch. in Oct. 1901. Of the $7,500,000 7%. The Waterford & Cohoes RR. $25,000 stock receives 7 % yearly
Northern Ohio Trac. & Lt. consols. $3,000,000 aro resorved to retire the under leaseN D S . — First quar. dly.. 1>4 %. was paldMay 1 1900; same rate
DIVIDE
North. Ohio Trac. bonds. $996,000 aro 5s. a l outstanding; the rest 4s.
l
A 9?0
^ A T w?a t „ ° n
i
V
Tho serial bonds or 1917 aro secured by deposit or $1,500,000 1st Lien & continued up to aud incl. July 1905. $5,000,000
Dec.
from
Ref. Mtge. 5 % bonds. As the bonds aro paid off. 1st Lien & Rer. Mtge. made 31 1906 stock was Increased% paid July 1 to $12,600,000 anil divs.
semi-annual (J-J) and 2
1907. 2 % Jan. 1 1908
bonds may bo withdrawn to not over 133 1-3% of the retired bonds. They and 2 % each six months thereafter to and incl. Jan. 1915. Nono since.
mature Dec. 1 as follows: 1919, $25,000; 1920, $50,000; 1921, $100,000;
R O A D . — Operates 62-82 miles of first main lino track, of which 48.98
1922 to 1925. incl. S150.000; 1926, 5 22 5 ,
,
000. $450,000 additional bonds
l 112.15 miles
l
may be issued ($225,000 maturing Dec. 1 1927 and $225,000 maturing miles are owned, and oporates in aTroy, Cohoes, of track, of which 93.84
connecting Albany.
Rensselaer, Watorvliet,
Dec. 1 1928), providing the amount of 1st Lion & Ref. Mtge. bonds do- miles owned, Greon Island, Waterford, 3tc. Rails, 47 to 141-lb. Glrdor
Lansingburg,
posited i Increased in proportion. Red. a l or part upon 30 days notice and T
s
l
Standard gauge. Has 494 cars, including 14 snow-plows, 12
at 101 and int. V. 105, p. 2456.
.
.
..
.
,
, T
__
On Jan. 24 1914 stockholders approved action of directors in providing sweepers and 22 service cars.
for tho payment of Federal income tax upon the various issues of the com y E A R N I N G S.-ForsCal. * » » 1917 a M 191P, a n d ^ r s cmilng June 30:
pany’ bonds.
s
C A N T O N - A K R O N C ONSOLIDATED RAILWAY.
1916'.......S2,444,’
05l S472.’
387 $155"627$640‘5i0 --.-MI
S12I496
STOCK A N D BONDS—
D a te .
I n t e r e s t . O u ts ta n d in g .
M a tu r ity ,
1915II6'.... 2 391 082 351 667
155,960 607,627 ......
133,907
Consol M $2,500,000. gold.( 1906
5«J-J
$867.000 Jan 1 1033 i9i4M 5 i::::: 2 :
452:300 070:034
235,503 727,594 $250,000
65,997
guar p & i by North Ohlollnt. at Citizens Sav.Sc 1rust Co..Cleveland,
OFF
E R S — Pres., L. F. Loreo, N. Y d
I
N.Y.:
Trac & LI«ht(Sl 000)c*-tfl Trustee, or First Nat. Bank, N e w York. V.-P., I C P. Gutellus, Albany; V.-P., H. B.V--P..W. I . Williams,V.-P. &
F.
Weathorwax. Albany;
Canton-Akron l?t mortgage;I 1902
5 > M ;g
1,145 000 Mar 1 1922 Asst, to Pres., W. B. Schofield; Asst, to V.-P., G. I . Parker, N. Y.; Sec. &
I
$2 000 000 g($l 000)c*.tf \In*, at Columbia Tr.Co.,N. Y., Trustee
Atherton, Albany. Com,,.,
OantoTrCl^illon 1st mortf 1900
5 g M - N j 840.000 M a y 1 1920 Aud., W. H. Eider; Troas.. H. F. Reynolds, Albany. PrincipalW. H.
office.
$1,000,000. K ($1,000) ..tf|Interest at Cleveland Trust Co., Trustee, or Davies, N. Y.: Act. Gon. Mgr., A. E. V. 101, p. 010; V, 103, p. 1413.
Albany.— V. 100, p. 310. 1350, 1834;
*
l at Guaranty Trust Co., N e w York.
AKRON, OHIO.
NORTHERN OHIO ELECTRIC CORPORATION.—A holding co.
Incorp. in N e w York on Oct. 18 1916 and owns over 99%of the common
Ma y , 1918.]
E L E C T R IC R A IL W A Y S
( Hudson Valley Railway.
1)
In Dec. 1906 the United Traction Co. of Albany acquired control through
purchase of a majority of the capital stock.
O R G A N I Z A T I O N . — Incorp. Aug. 14 1901 as a consolidation o r __
Glons Falls Sandy I 1 1 & Fort Edward Street Ry., Warren County Ry..
I1
Stillwater & Mechanlcvllle Street Ry., Groenwich & Scfauylervllle Street
Ry.. Saratoga Traction Co. and Saratoga Northern Ry., the capital stock
of these roads being exchanged for stock In the new company. V. 73, p.391.
Owns all tho stock ($200,000) and all the bonds ($200,000) of the North
River Ry., a road operated In Saratoga by this co. F r a n d ii s e s perpetual.
F in a n c ia l R e a d ju s tm e n t. — A readjustment of the company’ finances was
s
effected In 1906 without foreclosure as per plan In V. 82. p. 100, 1040. In
March 1906 $2,500,000 5 % non-cum. prof, stock was created to provide for
tho convertible features of tho debenture “B ” bonds. V. 82, p. 751.
T r a f f ic A g r e e m e n t s . — Has traffic agreements with the United Trac. Co.,
and Greenwich & Johnsonville Ry., by which cars of tho Hudson Valley
Ry. Co. aro run over the lines of the United Trac. Co. from Waterford
to Troy and also In Albany, and cars of this company are run [over ,th
Greenwich & Johnsonville at Thomson. N. Y.
'
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
______
S2.978.300 _________
Common, $3,000,000, par $100___
Preferred ($2,500,000 (seef...
......
See text
_________
text), 5 % non-cumulatlve.I
First consolidated mortgage/ 1901
5 g J-J
2.222,000 July 1 1951
$4,000,000 (denomination/Interest at Manufacturers' Nat. Bk., Troy.
$1,000 gold)------- c*tf [May be called at 110 & lnt. on any Int. date
Dob “A" Income. $700,000-. 1906
5g
474,000 Jan 1 1951
Deb “B ” Income. $2,500,000. 1906
2g
2,500.000 Jan 1 1951
U n d e r ly in g L i e n s —
G F 8 H & F E 1st M (no opt) 1 1891 6 J-J
100,000
Past due
($500 and $1,000) gold— c/Central Trust Co., N e w York, Trustee,
do
2d M ($500) gold.c/ 1893
6 J-J
50.000
past due
[Int. at Merchants’ Nat. Bank, Glons Falls,
do
3d M ($150.000)ntff
1901 0 A-O
82,000 April 1 1921
„ .. .
.
[May be called at 100.
S i l & Mech first mortgage../
tl
1893 6 A-O
47,500
past due.
,
[Bankers Trust Co., N o w York, Trustee.
consol mtge-.l 1898
6 A-O
202,500
past duo.
do___do
$250.000-------------- /Glens Falls Trust Co., Glons Falls, Trustee.
B o n d s .— Of the $4,000,000 M .of 1901, $182,000 are set aside for prior liens
and $1,290,000 have been deposited as c l , for temporary Ioaus. The dob.
ol
“B bonds were conv. Into prof, stock at par to March 1 1917. Int. on
tho deb. “A ’ and “B" bonds I nolther cumulative nor obligatory. N o int.
s
has been paid on either class. Tho G. F. S. I . & F. E. 1st M. f l duo
I
el
July 1 1911. but was extendod and I now past duo; 2d M . f l duo July 1
s
el
1913. Both Issues of Stillwater & Mechanlcvllle bonds f l duo April 1 1913.
el
O th er
EARNINGS—
O p e r a tin g N e t (.after
In terest
B a la n ce
In com e.
Y e a r E n d in g —
R ev e n u es .
T a x e s .)
& R en ts . D e f i c i t
Dec. 31 1916......... $888,340 $275,502 $26,653 $313,449 $11,294
27,475
Juno 30 1916......... 787,330 216,103
312,113
68,536
R O A D . — Main lino extends from Troy northward along the Hudson
through tho villages and towns of Waterford, Mechanlcvllle, Stillwater,
Schuylervillo, Thomson, Fort Edward, Sandy Hill, Glens Falls and Caldwoll to Warrensburg. The Saratoga Division, which branches off tho
main line at Mechanlcvllle, provides a line from Troy to Round Lake,
Ballston Spa and Saratoga, with a branch from Saratoga Springs to Glens
Falls, which branch was completed In Juno 1903. Thoro L also a branch
s
lino from Saratoga Springs to Kaydeross Park on Saratoga Lake and an
other from Thomson to Groenwich. Total first track, 116-09 miles; second
track, 12.01 m.; sidings, 8.61 m.; making a total of 136.71 miles of track,
of which 124.24 miles aro owned. Ralls, T, girder and grooved, 48 to 141
lbs. Standard gauge; 70% on private right of way. Operates 98 passenger
cars, 8 freight cars, 11 sorvice cars, 8 snow plows, 2 electric locomotivos and
9 express cars. Company owns Kaydeross Park, at Saratoga Lako, and
Ondawa Park, between Groenwich and Thomson.
OFFICERS.— Samo as for United Traction Co.— V. 89, p. 286.
A L B A N Y S O U T H E R N RR.— Third r i , except In c t e .
al
iis
O R G A N I Z A T I O N . — Incorporated In N o w York Sept. 14 1909 and I a
s
reorganization of the Albany & Hudson RR. Co. sold under foreclosure on
Sept. 8 1909 (per plan V. 89, p. 223). On Sept. 18 1909 merged Albany &
Greonbush Bridge Co. V. 89, p. 720. F r a n c h is e s aro perpetual. Does a
passenger, freight and express business and supplies light and powor
along route.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity •
$1,375,000 .
C o m m o n $1,375,000 ($100)............ .
Pref $2,100,000 5 % n-c ( $ 1 0 0 ) ____
F-A
2,029.000 A n g 'lT .K %
First mortgage $1,500.0001 1909
5 g M-S
1,451.000 Sept 1 1939
gold ($1,000).....__c* tf/Bankers Trust Co., N o w York. Trustee.
B o n d s . Recording tax paid, m a k in g th em ta x -e x e m p t i n N e w Y o r k .
—
Sink*
fund of 144% of bonds authorized from 1917 to 1921; 1922 to 1928. 2 % ‘>
1929 to 1938, 3%. 849,000 in sink, fund April 1 1918. Callable as a
whole at 106 and lnt. on any int. day. V. 89, p. 1140.
.
D I V I D E N D S . — Initial semi-annual dlv. on pref., 144%, paid Feb. 1
1911. Aug., 44%: none since.
R E P O R T . — For year ending Dec. 31:
F isca l
G ro s s
N e t ( a ft e r
In terest,
B a la n c e ,
3
ALLENTOWN, PA.
LEHIGH POWER SECURITIES CORPORATION.
O R G A N I Z A T I O N . — Incorp. July 19 1917 in Del. and has acquired:
(a ) All the stock of the Lehigh Navigation Electric Co. (formerly con
trolled by the Lehigh Coal & Navigation Co., which see in V. 105, p. 720),
and through such acquisition control of the Harwood Electric Co. and other
subsidiaries; ( ) a substantial majority of both classes of stock of the Lehigh
b
Valley Transit Co., and through such acquisition control of the Lehigh
Valley Light & Power Co.; ( ) approximately a l the pref. and com. stocks
c
l
of companies formerly controlled by the Northern Central Co. Tho con
trolled companies supply electric light and power to 31 cities and towns:
gas service to 13 cities and towns, and have charter rights in 70 townships;
17 townships are served by interurban railways. F r a n c h is e s generally, in
the opinion of counsel, aro free from burdensome restrictions, and a very
substantial part of them i perpetual. For fu l description of properties,
s
l
&c., see V. 105, p. 498, and Lehigh Valley Transit Co. below.$gSee also
V. 105, p. 290 and 818.
L e h ig h N a v ig a tio n E l e c tr ic C o . B o n d s . In connection with the acquisition
—
of control of this co. by the Lehigh Power Securities Co., the mortgage of
the Lehigh Navigation Electric Co. was closed, the Lehigh Coal & Navi
gation Co. retaining ownership of the $3,000,000 Series “A ” bonds issued
thereunder, but giving the Securities Corp. an option on the purchase ’
of
the same running to 1921.
S T O C K A N D BONDS.—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
Stock 605,000 shs (no par val). ......... ..... 305.000 s h s ..... ...
Secured gold notes. S50,000,-1 1917
6 g F-A
See text Aug 1 1927
OOO($lOO,S5O0&$l,OOO)c*tf/Int. in N. Y. Guar. Tr. Co., N. Y., trustee.
B o n d s o f C o n tr o lle d C o m p a n ie s i n H a n d s o f P u b li c a s o f J u n e 30 1917—
N o r th e r n C e n tr a l G ro u p —
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Northumb. Co. Gas & El. Co.—
1st M . s f bds., cal . 105) 1911
. .
l
5 g M-S
SI,139.000 Sept 1 1940
any int. date........ f Int. at office of Henry & West, Phila.
Gold notes call at par any] 1913
5 g J-J
35,100 July 1 1918
lnt. date
Int. at office of El. Bond & Sh. Co., N. Y. C.
Hagerstown L. & H. Co. o ' 1912
f
5 g F-A
291,000 Aug 11962
Wash. Co. 1st M . call at Int. at office of El. Bond & Sh. Co., N. Y. O.
at 103 any int. date______
Nor Cent Gas Co 1st Sc Ref 1912
5 g F-A
775,000 Aug 1 1962
$4,000,000, call at 105 any Int. at office of El. Bond & Sh.Co., N. Y.O.
int. date______________
Williamsport Gas Co 1st M__ f 1899
5
g
F-A400.000Fob1 1939
lInterest at Girard Trust Co., Phila.
Columbia & Montour E L Co.—
1st M call 105 any int date( 1913
5
g
F-A577,200
Feb11943
2d M call 105 any int date./ 1913
5
g
F-A567,500Feb11943
/Int. at officeof El. Bond &Sh. Co., N. Y. C.
Other Issues______________ ____
5 g var
20.300
1922-32
L e h ig h N a v ig a tio n E le c tr ic G ro u p —
Leh N El Co ($10,000,000) 1st M:
“A" call 107 44 any lnt date. 1913
6 J-J
3,000.000 July 1 1943
“B ”call at 100 any lnt date. 1913
6 J-J
1,033,000 July 1 1943
Harwood Electric Co.—
1st M call 10744 any Inti 1909
5 J-J
769,700 July 1 1939
date--------------- /Interest at Girard Trust Co., Philadelphia.
1st & Ref M ($10,000,000)1 1912
6 M-S
2,226,000 M ar 11942
callable at 10744______/Interest at Girard Trust Co., Philadelphia.
Stroudsburg El L & P 1st M ......
5 J-J
25,000 Dec 15 1920
Schuylkill Gas & El 1st M . _ ......
6 A-O
106.740 April 1 1943
Hazel ton Steam ll’
ting C o l ___
5 M-N
3,000 Nov 1 1929
1st M callable at 100____ /Int. at Hazleton (Pa.) Rational Bank.
L e h ig h V a lle y T r a n s i t G r o u p — See Lehigh Valley Transit Co. below.
V o tin g T r u s te e s f o r S to c k . — Irving W . Bonbrlght, Bonbright & Co., Inc.;
George H. Frazier, Brown Bros. & Co.; S. Z. Mitchell, Pres. Elec. Bond&
Share Co.; Lewis E. Pierson, Chairman of Bd. of Irving Nat. Bank, N. Y.;
S. D. Warriner, Pres. Lehigh Coal & Nav. Co.; G. M . Dahl, V.-P. Chase
Nat. Bank, N. Y.; Alexander J. Hemphill, Chairman Guaranty Tr. Co.,
N. Y.; Thomas Newhall, Edw. B. Smith & Co.; Daniel E. Pomeroy, V.-P.
Bankers Trust Co., N. Y.. and William West, Henry & West, Phila.
N o t e s . — $18,000,000 notes were subscribed for. The terms of subscrip
tion provide that 40% be paid upon allotment and the remainder as called
by tho co. on written notice of at least 20 days, the subsequent installment*
to bo at least 30 days apart, and no one of said installments to be for more
than 10% of tho amount subscribed. Subscribers have the right to antlciate a l or any part o f their subscriptions at any time. The Electric
l
lond & Share Co. will deliver to each subscriber 4 shares of the Securities
Corp. 6tock with each $1,000 of notes when subscriptions have been paid
In f l . The stock may be deposited in a voting trust.
ul
The collateral for the notes includes (a) the entire capital stock of the
Lehigh Navigation Electric Co.; ( a substantial majority of the stock of
6)
tho Lehigh Valley Transit Co.; ( ) tho bulk of the outstanding stock issues
c
of the Northern Central Gas Co., Columbia & Montour Electric Co., and
Northumberland Co. Gas & Elec. Co., as shown in V. 105, p. 818. It I
s
expected that tho corporation from time to time will s l part or tho securities
el
deposited under such trust agreement, the proceeds to be used for the pur
chase, redemption and cancellation of the notes, by purchase at the lowest
rlco, or at 101% and l t., by l t Notes are red., a l or part, on any lnt.
n
o.
l
ate at 101 and int. Pennsylvania 4 mills tax refunded. V. 105, p. 818, 498.
E A R N I N G S . — Of combined properties for 12 mos. ended June 30 1917
(inter-group charges eliminated); Gross from oper., $6,277,526; other In
come, $240,422; total, $0,517,948; oper. exp., taxes, maint., & depletion
charges, S3,891.937; net, $2,626,011; deprec. allowance, $327,928; int. and
disc., $1,433,979; proportion of earnings accruing to stocks held by public,
$134,796; surplus, accruing to Lehigh Power Securities Corp., $729,308.
P r o p e r l y , & c . — Generating plants have a present capacity of 98,675 k. w.I
328 miles high-voltage transmission lines (over 6,600 volts); gasholder
capacity, 1 ,
266,000 cu. f . 160 miles gas mains; 216 miles street and inter
t;
urban railway l
ines.
M a n a g e m e n t . — The company l under the management of the Electric
s
Bond & Share Co.— V. 105, p. 498, 720, 818, 1208, 2365; V. 106, p. 611.
S
S
Y ear—
E a r n in g s .
T a x es ).
R e n ta ls . A c . S u r p lu s .
1917.................. $574,655
$129,378
$101,596
$27,782
1916-.................. 529,814
142,524
99,595
42,929
1915................... 511.216
149,849
91.355
58!494
R O A D . — Operated by third-rail system from Albany via Ronssolaor to
Hudson. Comprises 37 miles of main line and 9 miles of sidings, with 2
additional miles of overhead trolley road In Hudson. Total, 01 miles of
track. In Feb. 1900 made contract giving I privilege to enter Albany over
t
tho tracks of tho United Traction of Albany. Double-tracking of road be
tween Renasolaor and Klnderhook Lako completed In 1910. Operates 19
passongor cars, 6 freight and 2 express cars, 2 express t ailers, 2 snow-plows
r
Lehigh Valley Transit Co.—
and 2 electric locomotives. Rails 70 and 80-lb. steel; standard gaugo.
Also owns tho highway t l bridge over Hudson River at Albany and a largo
ol
C o n tr o l. — In July 1917 the Lehigh Power Securities Corp., which see
amusomont park at Klnderhook Lako.
above, acquired a substantial majority of both classes of this company’
s
stock on tho basis of $28 per share of com. and $48 per share of pref. stock.
OFFICERS.— -Pres., William Loeb Jr.; V.-P., Richard Sutro; Sec. and V. 105, p. 606.
Troas., Irvin W. Day; V.-P. and Gen. Mgr., James E. Howes; and., James
A. Connell.— V. 101, p. 845, 1010; V. 103, p. 575; V. 105, p. 714.
O R G A N I Z A T I O N . — Incorp. In Pa. on Nov. 3 1905 and I a reorganiza
s
tion under foreclosure of the Lehigh Valiev T r a c tio n Co., the Pblladelhla & Lehigh Valley Traction Co., the Allentown & Slatington and tho
loplay Egypt & Ironton Street Ry., as per plan in V. 79, p. 733, 1402.
ALBIA, IOWA.
In Oct. 1911 purchased the Montgomery Trac. Co. (V. 93, p. 940), a l of
l
ALBIA LIG H T & RAILW AY CO.
whose bonds and stock are deposited under the Lehigh Valley Transit ref. St
.O R G A N I Z A T I O N . — Incoro.In Delaware June 1916 as a reorganization Imp. mtge. of 1910: reconstruction of Mont. Trac. completed Dec. 12 1912.
of the Southern Iowa R. & Light Co. as per plan in V. 103, p. 939. Doos cutting down running time betwoen Allentown and Philadelphia (City Hall)
tho light, heat, power, railway and gas business of Albta, Hocking, llito- from 444 to 244 hours. An 8-mIle cut-off on this division was completed in
man and community serving a population of 12,000. Also supplies power 1914 and the running time between Allentown and 09th St. Terminal.
s
for'the operation of 12 miles of tho Centrevillo & Albla Ry, Co. N o w powor Philadelphia, i now 1 hour and 58 minutes.
In April 1913 purchased controlling Interest in stock of Easton Consoli
units and 22 miles of transmission linos with contracts to furnish powor for
4 large coal mines were placed In operation about March 15 1918. F r a n dated Electric Co. (V. 90, p. 1022). On June 20 1913 shareholders author
ized an Issue of collateral notes to pay for the purchase. V. 96. p. 1489.
c h is e s oxplro in 1942.
1772. Also has half Interest in Norristown Transit Co. F r a n c h is e s perpet.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
On Dec. 31 1915 purchased the franchises and property of the QuafcerC o m stock $400,000 ($100).
$400. obo
town Trac. Co. (formerly leased) for tho sum of $1 and the concellation of
Pf 6 % non-cum$100,000 ($10). . . I I
* 6— p "
100 000 F e h M s ' i 144 I s indebtedness, a l of which was owned by tho Lehigh Vail. Transit Co.
t
l
1st M 3500,000 gold ($1,000/ 1916
5 g J-J
350,000
lo li
Under agreement made In July 1907 the Lehigh Valley Transit has I s
t
and $100).......c&r.cptl lnt. at Empire Trust Co., N. Y., trustee
Philadelphia terminal In the Philadelphia Rapid Transit station at Chestnut
Hill. V. 85, p. 99. Late In 1912 made a contract for express service with
B o n d s . Of tho bonds reported outstanding, $100,000 were Issued to cover
—
now extensions. Remaining bonds aro for oxtonsions and additions. N o Adams Express Co. Conducts through freight service between Allentown
sinking fund and not subject to c l .
al
and Philadelphia.
D iv id e n d s .
Regular quarterly divs. of 144% on prof, stock were begun
L ig h t a n d P o w e r . — In March 1913 the Lehigh Valley Light & Power
Aug. X 1U1»
.
Co. was organized as a consolidation of the Allentown Electric Light &
Powor Co.
l
by
E A R N I N G S . — Year ending Dec. 31 1917, gross, $83,397* net after the Transit and numerous smaller companies, a l previously ownedout
Company. Stock authorized, $850,000 (par $100);
taxes, $28,650: interest on bonds, $15,000; surplus, $13,050.
’
standing, $491,100, a l owned by the Transit Co.
l
Does entire lighting
R O A D * — Operates 11 miles of street railway connecting Hocking, Albla and power business In Allentown, Bethlehem, South Bethlehem, Slating
ton, Oatasauqua. Emaus and adjacent territory; power l also wholesaled
s
and Hltcman. 00 and 70-lb. T r i ; standard gauge.
al
to Macunglo and to soveral municipalities along the Transit Co.’ line.
s
™ 0 P J £ E R S ,Y~i>
c'?Y> Alb, L *J°?C,e; , * l * Merle R. Walker; Sec., Including Coopersburg, Sellersville. Souderton and North Wales. In
ert
v -'.
M. A. Day, a l of 61 Broadway, N. Y. City; Treas. & Gen. M g r Ralph Aug. 1913 the company closed a contract to supplyjelectricity to the Phil
l
W . Boyer. Albla.— V. 103, p. 939; V. 105, p. 496.
P
adelphia Suburban Gas i t Elec. Co., a subsidiary of tho Amer. Gas Co.
S
4
E L E C T R IC R A IL W A Y S
V. 97, p. 521.
Also has numerous municipal street-lighting contracts.
perpetual.
P. U. Co m m , a now faro sched
ule, effective Juno l 1918, providing for increases in local and limited
passengor fares on tho Philadelphia and Slatington divisions, and increases
In a l commutation ratos on a l divisions. V. 106, p. 2123.
l
l
Owns the following stocks:
„
F r a n c h is e s , with one minor exception, are
F a r e s . — In M a y 1918 filed with the Penn.
C a p . S tock .
N a m e o f Com pany—
O io n ed . T o t. i s s u e .
Lehigh Valley Light & Power Co. (common)-------- $491,100 $491,100
Allentown Bridge Co____________________________ 292,100 292,100
Rlttersvllle Hotel Co_________________________ _
100,000 100,000
Easton Consolidated Electric Co. (50% paid).......1.498,8001.500.000
-------12,000
24,000
Norristown Transit C o _____________ .—
Miscellaneous stocks___ _________.______ ...---- - 10,200 160,000
Leases Bethlehem & Nazareth Passenger Ky. for 999 years at 5 % on stock
and bonds.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
Common, $3,000,000, par $50--------$2,997,350 - - — ---Pref, $5,000,000. par $50-.-\___
Q-F
4.979.687
See text
5 % ,cum after Nov 3 1910.1
„,
_
„
_
First mortgage, $5,000,0001 1905
4-5 g M-S 4,994,000 Dec 1 1935
gold ($1,000)_______ ctf/Guaranty Trust Co., N o w York, Trustee.
Consol, mtge, $7,500,000,1 1905
4-5 g J-D
353,000 Dec 1 1935
gold ($1,000)________ tf[Commercial Trust Co., Phila., Trusteo.
Ref & Imp mtge $15.000.000\ 1910
5 g J-D
5,115,000 June 1 1960
gold ($500 and $1,000) c*tf(Lehigh Valley Trust Co.. Allentown. Trustee
[Vol. 106
R O A D . — Embraces practically the entire street railway system of Easton
and West Easton. Pa., and Phllipsburg, N. J., with lines from Easton to
Bethlehem, South Bethlehem, Nazareth, and Phillipsburg, N. J.
total track, 54.389 miles, a l standard gauge; operates through cars from
l
Easton to Bothlehom, South Bethlehem and Allentown. 93 passenger
and 12 service cars.
. „
_ _
OFFICERS.— Pres., H. R- Fehr. Allentown, Pa.; Vice-P., S. H
Hackett; Sec. & Treas., F. A ’ Ilazzard; Asst. Sec. Sc Asst. Treas., S. H.
Sargent.— V. 97, p. 53. 301. 311; V. 98. p. 838; V. 99. p. 1300.
A L L E N T O W N & R E A D I N G T R A C T I O N CO.— A trolley road.
O R G A N I Z A T I O N . — Incorporated April 25 1898 and leased tho Allen
town Sc Reading Electric Street Ry. for 290 years from June 4 1898. On
Feb. 6 1902 leased for 290 years the Kutztown & Fleetwood Street Ry.
Controls the Kutztown Light, Heat Sc Power Co. Connects with United
Traction Co. tracks from Reading, thus forming a through line from Allen
town to Reading.
_
,
,
Notice of an increase in faro from 5 to 6 cents, excopt between Reading
and Itosedalo, effective Jan. 1 1918, was filed with tho P. S. C o mm, in
Dec. 1917.
S T O C K A N D BONDS.
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$250,000 .........
Stock. $750,000 (par $50)..................
Allont& Kutz 1st MS250,0001 1900
5 g J-J
3250,000 July 1 1930
g, $100.$500 & $ 1,000-cpt Itnterost as Fidelity Trust Co., Phila., trustee
First M Kutztown & Fleetw'dl 1902
5 g J-J
200,000 Jan 11932
$200,
000,guar p & I cptj
__
First consol mtge. $750,0001 1902
5 g J-J
300,000 July 1 1932
g ($500* $1,000) c &r.cpt/lnt. at Integ. Tit. Ins. Sc Tr.Oo., Phila.,trus
1 50 .00 0
5 % guar
-----------B e th . & N a z a r S t R y S to c k ---- --------5 M-N
163,000 M a y 1 1937
150 .0 0 0 M a y 1 1929 Second consol mtge $300,0001 1907
B o n d s ($ 1 5 0 ,0 0 0 )...............t f _____
5 M -N
($500 & 31,000)___ c&r.tf(Berks Couuty Trust Co., Reading, trustee.
1 50 .00 0 F e b 1 1942
N o rris t o w n T r a n s it C o . l s t M . ____
5 F -A
B o n d s . — Of tho $750,000 of now consols, $460,000 are reserved to retire
1 5,0 0 0 O ct 1 1929
So B e th E L C o 1 st M c a ll a t l ____
5%
prior liens. They are subjoct to call at par sinco July 1 1917; no sinking
105 a t a n y in t d a t e ________/
is
2 1 8 .0 0 0 J u l y 1 1942 fund. The f r t mortgage bonds are redeemable at par.
A lle n to w n B rid g e 1st M ($ 50 0 f 1912
5 J-J
E A R N I N G S . — For year ending Juno 30 1916, gross, $183,825: net.
& $1,000) call at 105 any) Guar. p. Sc i by Lehigh Valley Transit Co
.
$86,401; other income, $14,463; in rontals, &c., $77,682; surp.. $23,182.
t.,
int. date________ lint, at co!s officeor Brown Bros.& Co..Phila.
R O A D . — Operates 39.60 miles main line, 7.50 miles sidings— total,
Lehigh Val L & P mortgage! 1913
5 g A-O
604,500 April l 1943
_ _ _
. „
$2,000,000 ($1,000, $500
Lehigh Valley Trust Co., Allentown,Trustee. 47.10 miles; 43 cars.
O F F I C E R S — Pres.. H. E. Ahrens. Reading: V.-P.. W. D. Mohn; Sec..
$100) gold_________ c*tf (int. at co's officeor Brown Bros.& Co., Phil.
Coll trust bonds, $925,0001 1913
6 g J-J
924,259 July 1 1923 8 . K. HofTman. Hamburg; Treas.. Geo. B. Shaffer, Reading; Supt.. W . J.
Bear, Kutztown.— V. 81. p. 1492; V ^ 2. p. 216.
($1,000,$500,$100) gc*ntf/Int. at Girard Trust Co., Phila., Trustee
Equip trust “Ser A ”______t f ___
5%
46,750 -------ALLIANCE, OHIO.
Equip trust “Sor B " _______ ____
5%
90,000 --------Equip trust “Ser C ”------- ---5%
200,000 ------- S T A R K E L E C T R I C RR.— An electric railroad.
B o n d s . Of tho $5,000,000 f rst mtge., $2,770,000 bear 4 % interest and
—
i
O R G A N I Z A T I O N . — Incorporated in Ohio and i a consolidation I Dec.
s
d
aro a l out, and $2,224,000 are 5s. Int. at tho company’ office and Brown 1902 of the Alliance Electric Ry. and the Stark Electric Ry.
l
s
Bros. & Co., Phila. Tho 1st M . bonds are redeemable on any int. date, tho
In Juno 1917 a general wage incroaso of 5c. an hour was grantod.
4s at 105 and tho 5s at 110. Of tho consols, $2,500,000 4s wero outstanding,
S T O C K A N D BONDS.
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
but $2,147,000 have been exchanged for ref. & impt. bonds. Int. on consol, Stock, $1,500,000 ($100)........
Q-J
SI,250.000
See text
bonds i payable at office of company or Brown Bros. & Co., Phila. Those First mtge. $1,000,000. goldf 1903
s
6 g J-J
866.000 Jan. 1 1928
bonds aro not subject to c l . Of tho $15,000,000 re . & impt. bonds
al
f
($1,000) sinking fund. call-iCitlzene’Sav. & Tr. Co., Cleveland, trustee.
$5,000,000 aro reserved to retire 1st M . bonds; $569,000 for consol, mtge.
able at 105_________ ctf (Int. at United Bank & Sav. Co.. Cleveland.
bonds ($353,000 to take up bonds shown in tablo and rest for bonds previ
B o n d s . — Sinking fund of 1 % per annum from Jan. 1 1911 to Jan. 1 1915
ously taken up): $3,334,000 for improvements and $101,000 for general and 2 % per annum thereafter. $134,000 havo been retired.
purposes; $881,000 are in treasury. Bonds aro red. at 105 and int. on or
D iv i d e n d s . First div., H %. paid July 1908: H % paid quar. to and lncl.
—
before June 1 1920, and 110 and int. thereafter. V. 92, p. 187; V. 94, p. Jan. 1916. In April 1916,1%; same rate quar. to and lncl. Apr. 1917: none
698, 982; V. 95, p. 750. Int. i payable at offico of company or Brown since. In April 1910 also a stock dividend of 25%. V .90, p. 448, 700.
s
Bros. & Co., Phila. Bonds are listed on tho Phila. Stock Exchango. Tho
E A R N I N G S . — For years ending Dec. 31:
„
,
c
oll, trust notes of 1923 aro redeemable at par and int. on any int. day.
Y ear—
G ro s s .
N et.
I n t .& T a x e s .
D iv s .
S u r p h is .
Equip, trust “Series A ” are payable $4,250 semi-annually, and “Series B ’ 1917
3396,185
$156,476
$68,685
$12,500
$75,291
$5,000 semi-annually.
1916........ 350,900
160,426
65,446
50,000
44,980
Lehigh Valley Lt. & P. bonds are subject to call on any Int. date at 105
R O A D . — Operates 34 miles of track from Canton to Salem, Including
and interest. V. 97, p. 365.
Alliance City linos. Standard gauge. 67 and 70-lb. T r ils and 70 ana
a
D iv id e n d s . — Initial div. on pref., 1%. paid Nov. 10 1911- In 1912, 90-lb. girder r i s
a l . Total mileage, including double track, 36 miles. An
1913 and 1914, 2%. In 1915, 3 H % - In 1916 and 1917, 5%. In 1918. extension from Alliance to Marlborough and N o w Baltimore and eventually
Feb., U 4 % . M a y div. omitted (seo V. 106, p. 2123). Total accumulated to Akron I to be constructed: lino partly graded.
s
. . „
„
OFFICERS.— Pres., W. I . Purcell; V.-P., W. I . S. Wood; Sec., K. S.
I
I
^ * A R N U N G S . For yrs. end. Nov. 30 (1917 report In V. 106, p. 597.
E
—
Cook: Treas., S. L. Sturgoon; Aud., O. K. Ayers Gen. Mgr., F. L. Mowry.
F is c a l
O p e ra tin g
N e t a ft e r O th er
In terest,
P r e fe r r e d
B a la n c e .
— V. 86,p. 1468; V. 90, p. 448, 700, 1171; V. 102,p. 977; V. 104, p. 2553.
Y ear.
R even u es.
T a xes.
In com e.
R e n ts ,A c .
D iv id e n d s .
S u r p lu s
1916-17 .$2,875,074 $920,428 $144,756 $611,646 (5%)S248.983 $204,555
AMSTERDAM, N. Y,
1915-16 - 2,471.872 953,761 145,210
630,494 (5%) 248,983 219.494
F O N D A J O H N S T O W N & O L O V E R S V I L L E R A I L R O A D CO.—
1914-15 - 2,056,875 852.4S9 136,145
665,246 (3H) 174,288 149,100 Steam and electric road. See statement In “Railway & Industrial Sec.
1913-14 - 1.869.006 718.351 122,948
633.178
(2%)
99,593108,528
R O A D . — Operates 163.65 miles of railway, of which 151.47 miles owned
ANDERSON, IND.
and 12.18 miles leased. Tho road connects Allentown, Bethlehem, South
U N I O N T R A C T I O N CO. O P INDIANA.— A trolley road.
Bethlehem, llellertown, Nazareth, Siegfried, Northampton, Coplay, Cata. — Incorp. on M a y 13 1912 as a consolidation of the
sauaua, Egypt, Emails, Macungio, Slatington, Quakortown, Perkaslo, Lans- oldO R G A N I Z A T I O NCo. of Indiana (incorp. M a y 28 1903) and the Indiana
Union Traction
dalo, Norristown, Ambler and Phila. 80, 95 and 105-lb. T and 96 and 116-lb. Union
(Incorp. June 9 1903), per
1119. 1185: V.
girder r i s Owns a large amusement park about midway between Allen 95, p. True. Co.as a result of which capitalplan In V .94, P.reduced. The
al.
819:
was materially
town and Bethlehem. Owns 188 passenger cars, 14 frolght and 37 service legality of and consolidation was upheld In a decision by the Supreme
the
cars. A 2,650-foot bridge between Allentown and South Allentown was Court or Indiana in the f l of 1915. Tho Indiana Union Traction Co.
al
built by the controlled Allentown Bridge Co. (auth. stock $300,000) and had previously acquired the Indiana Northern Traction Co. (V. 81, p.
was formally opened Nov. 14 1913. See V. 97, p. 1426,1428; V .98, p. 154. 1848), Muncie Sc Union City 'Fraction Co. (V. 83. p. 96) and Muncie
OFFICERS.— Chinn, of Bd.. Col I . O. Trexler; Pres.. Harrison K
f
Hartf.
869. 1041).
Fehr V.-P., E. M. Young; Sec. and Treas., Chas. N. Wagner; And., F. A. leased & Ft. W. Ry. (V. 82. p. 805, at a rental (The latter company was
to the Indiana Union Trac.
In addition to operating
Ilazzard.— V. 05, p. 1802; V. 106, p. 86, 296, 396, 597, 2011, 2123.
exp.. Int. on bonds, &c.), equivalent to5 % on Mun. Hartf. & Ft. W. Ry.
(1) Easton Consolidated Electric.
,
stock; V. 83, p. 96. T
o M Union Trac.
In April 1913 tho Leilgh Valloy Transit Co. acquired a controlling in $500,000 cum. pref.or the Union Trac. Co. h eIndiana (Incorp.Co. of Indiana
was
In June 1899).
terest in the stock and has since acquired a l stock except (24) directors and a consolidation Northern Trac. Co. of
l
the Indianapolis
(incorp. in April 1902). Leases
the Broad Ripple Natatorium Co. and owns $7,000 of i 5 % bonds.
ts
Dividend payments were: July 1900, 314% on $10 paid In; Sept. 1901
Also owns
and $49,500
and March and Sept. 1902, 3 % on $15 paid In; March 1903 (paia In July) stock of tho the $100,000 1st M. 6soutstandinga one-fourth of the $50,000
Traction
intorost in
and Sept. 1903, 4 % on $16 paid In. In Dec. 1905 declared a dividend of Unitod Tractions CoalLight & Power Co. andloasos valuable coal landstho
Co., which owns and
to
$2 50 and at same time catlod an assessment of S5 per share on the stock; insure tho co. an adequate coal supply. (Seo Shirley Realty Co. of Ind
the dividend was credited on tho assessment, making the stock 5 0% pain I
n.
,
„ _
V 81 d . 1791. Cash dividends resumed In Oct. 1906 with tho payment of in V. 104, p. 1805.)
Vne Indianapolis Northorn Traction assumed
2 H % . V. 83, p.687 ; 244% again paid April 1 1907 and 2 H % Oct. 1 1907; Int. of half ($200,000) of the bonds of the Broadpayment of the prln. and
Ripple Traction Co. (see
then dividends wero passed until Nov. 1911, when 2 % was paid. In 1912
under Indianapolis).
ana 1913, 4%; in 1914, May. 2%. Beginning with June 1914 began paying
Leases Indianapolis Newcastle
25
1-3 of 1 % monthly (V. 99, p. 300). Dividends no longor reported, as 1912. Lease modified on Aug. Sc East. Trac. Co. for 99 years from Oct.tho
21 1914 and'com. & prof, stocks of
entire stock I owned by Lehigh Valley Transit Co.
s
Ind. New. & E. 'Frac. Co. formerly held wero transferred in satisfaction
O R G A N I Z A T I O N . — Consolidation by stock ownership of the Easton
Transit Co., the Edison Illuminating Co. of Easton, and the Phllllpsburg of obligations Incurred in leasing that company and acquiring that stock,
l n , and in
(N. J.) Horse Car RR. Co. (name changed to Phillipsburg Transit Co.). and in building tho Muncle-Newcastle ii ofor that consideration of further
for
ii s
i
Incorporated in N o w Jersey March 11 1899. Owns a l the stock of the advances (V. improving power fac l t e modified l ne, a total of about
l
$521,000
100, p- 975). Lease again
as of Juno 30 1916 Ih
tho
& Portland Traction Co. to the
1 °C orisolU lation °of S u b s id ia r ies . On Jan. 3 1908 the (old) Easton Transllt connection with the lease of Co., Muncioseo below.
—
Nowc. & Eastern Trac.
which
Co. the Easton & Bethlehem Transit Co., the Easton Palmer & Bethlehem Ind. r e s . In Dec. 1917 tho Ind. P. S. Comm, denied tho co. an increase
—
Street Ry. aud the Northampton Central Street Ry. wore merged into the in F a from 5 to 7 cents on tho Broad Ripplo lino boyond Fairfield Ave. and
faro
(new) Easton Transit Co. (V. 85, p. 1461) and In 1909 the Easton & South increases to 6 cents on tho local l t e in Anderson. Muncie, Marion and
iis
Bethlehem Trans. Co. was also merged into the (new) Easton Transit Co. Elwood, but permitted i to increaso tho rato for mileage books on i s linos
t
t
Stock, $2,150,000; a l owned by Easton Consolidated Elec.
l
For decision of the Northampton County Court at Easton, Pa., on Dec. to 2 cents per mile, commutation tickets to 1/4 conts per mile (from 1 Vi
y 1918 applied
28 1914 favorable to the Edison Illuminating Co. (a subsidiary),see Lohigh conts) and school passengers to 1 1-5 conts a milo. In M amilo. Early in
for permission to increaso fares from 2 to 2J/ conts per
Valloy Transit Co. in V. 100. p. 140.
,
S T O C K A N D B O N D S . — The collateral trust 6s were in Jan. 1900 listed 1918 was auth. to incroaso freight ratos.
O u ts ta n d in g .
M a tu r ity .
STO CK a n d BO NDS.
D a te .
In te r e s t.
on the Philadelphia Stock Exchange.
„ ,
C o m m o n , $ 5 ,0 0 0 ,0 0 0 — ----------------- - - - — - . $ 5,0 0 0 ,0 0 0
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
See text
1.000,000
1st p ro f, $ 1 ,0 0 0 ,0 0 0 . 5 % c u m ---------A -O
Stock $1,500,000 (par $50)..Stock (50% paid in) a l ownod by L. V. T. Co.
l
3,0 0 0 ,0 0 0
Soe te x t
J - J 10
Collateral trust $1,300,000 g( 1899 5 g M - N
$1,201,000 M a y 1 1949 2d p re f. $ 3,0 0 0 ,0 0 0 (see t e x t )---------1,6 2 0.0 00 J u l y 1 19 33
In d U n T ra c t io n 1st M $ 5,-1 1903
5 g A -O
($1,000 and $500)___ c*tf (Interest at Girard Trust Co.. Phila., trustee.
000 .00 0 ($ 1,0 0 0 ) g o ld ., t f [ ln t o re s t a t G ir a r d T r u s t C o ., P h ila ., tru ste e .
Pennsylvania Motor Co lstj 1891 6 A-O
60.000 Apr 1 1941
4 ,4
Ju
1
Co of (nd 1st gen Ml 1899
6 g J-J
mort. (cannot be called) tf(Lack. Tr. & Safe Dep. Co., Scranton, trustee Union Tr 000g($l,000)c<Scr*tf/Equitable Tr. Co N e w 50 .00 0, truly e 19 19
Y o rk
ste
$5 .
000.
Eas Palmer & Beth 1st gold! 1899 5 J-J
200,000 Jan 1 1919
150 .0 0 0 J u l y 1 1919
6%
Collateral trust notos______
$200,
000,cannotbecalledntf 1Int. at U. S. Mtg. & Tr. Co.. N. Y., trustee.
......................
75 .0 0 0
Car trust c t f s S e r io s A ..... ......... ----Eas&So Beth Tr 1st M $500,-/ 1906 5 g J-J
427.000 July 11936
____
_ g_J-D
4 2 ,0 0 0 D e c 1 1927
Cltizens’St Ry (Mun) 1st M l 1897
6„
000 guar gold ($1,000) c*tflGirard Trust Co., Philadelphia, trustee.
$250,000 s fsub to call 105- In te re s t a t G u a r. T r u s t Sc S afe D e p o sit C o .
T
B o n d s . — The coll, bonds have no s f and are not subject to c l . Of tho
. .
al
P h ila d e lp h ia , trusteo .
($500 and $1 ,
000)----- c*
total of a 1.300,000. $60,000 I reserved to retiro the Penn. Motor bonds,
s
6 g
$2,000 in treas. and $1,000 roserved for small amt. of outstanding scrip of Marlon City 1st M $400,000 E 1895a b le T r Ms-tNC o ., N3e2 8 ,0 0 0r kM a y 1 1919
u
w Y o , truste e .
gold ($1 ,
000)..... ...ctf q u it
Ed. 1 1 Co. Issue I secured by pledge of $2,150,000 stock (entiro issue) of
1.
s
5 g J-J
5 ,0 0 0 ,0 0 0 J u ly 1 1932
Indianapolis North Trac 1st 1902
(new) Easton Transit Co.. 12.317 shares (entiro issue) of Edison Ilium,
mtge $5,000,000 g ($1,000) E q u it a b le T r u s t C o .. N e w Y o r k , truste o .
stock and 2.400 shares (the entire issue) of Penn. Motor stock. Int. on
guar p & I by Un Trac.c* tf
_
Easton & So. Beth. Transit bonds i payable at orfico of Edw. B. Smith &
s
1903
5g A-O
500,000 Oct 1
Co.. Phila., or at company’ office. They are guar. p. & I by endorsement Indiana North Trac 1st mtge Interest at Trenton (N. J,) Trust & 1933
s
.
$600,000 gold ($100, $500
Safe
by the Easton Consol. Elec. A sinking fund of $5,000 o. a. commenced
c*tf
Deposit Go., trustee.
June 1 1908:349.000 have been retired. Bonds aro subject to call at lOo and M and $1,000) guar....c u m . _ ___
H Sc Ft W pref stock
5%
500,000
B e e text
Int. V. 83. p. 323: V. 104, p. 2553.
do do
f r t mtge $1,-1 1905
is
5 g J-J
919,000 Jan 11935
R E P O R T . — For calendar years.
„
,
000,000 gold ($1.000) -c* tf/Int. at Guard. 8av. Sc Tr. Co.,Clov., trustee.
C a len d a r G ro ss E a r n . N e t I n c . N e t I n c . T o ta l E . B on d I n t . D i v s . B a la n c e ,
Muncie & Un 0 i t $925,000 1906
v
5 g J-J
925,000 July 1 1930
Y e a r — — R a ilw a y D e p t . —
E d .l ll .C o . C o n .E l. T a x . . A c . P a id .
S u r p lu s .
guar gold ($1,000) --.c*tf/lnt. at
191 6 .... $653,262 $206,160 $18,803 $224,963$67,545 $60,000 $97,418 B roa d R ln p leN a ta torlu m lstM \ ___ Fidelity Trust Co.. Phila., trusteo.
6 M-S
38.000 Mar 1 1931
1916..... 534,644 133,029 19.833 152,862 67,806 60,000 25,056
Guar, bv Un.Tr.Co.of Ind. jInt. at Security Tr. Co., Indlanap., trusteo.
1914 --- 476.611
126.907 24.057 150.964 67.577 69.950
13.437
S to ck . — Divs. on 2d prof, stock are cum. from 1% semi-annually In
L a te s t E a r n in g s .— Tho surplus earnings of tho Easton Consolidated Elec
1913. scaling upward to 3 % semi-annually In July 1918 aud thereafter.
trie Co. for the year ending Nov. 30 1917 wero $159,709.
5
E L E C T R IC R A IL W A Y S
Ma y , 1918. J
B o n d s . — Of the Ind. D. Trac. bonds of 1903. $3,380,000 were reserved
for extens, and lmpts., but under terms or consolidation agreement of 1912
these bonds have been canceled. $436,000 are held alive In the sinking fund.
Sinking fund, 1\ i % per annum of outstanding bonds, became operative
on July 1 1904. Fund i to be Invested In the bonds at not above 105 and
s
lnt., and bonds m a y bo drawn at 105 and int. on any int. date. S167.000
Union Trac. Co. of Ind. Gen. M. bonds are In treasury, including 5150,000
nled"od to secure tho collateral trust notes; remaining bonds are reserved
for underlying bonds. Soo V. 71, p. 1013. Bonds are l
isted on Phila.
Stock Exert. Tho Indiana Northern Trac. bonds are subject to ca l at
l
105 and int. on six weeks’ notice. They are guaranteed "principal and
interest by Indiana Union Traction Co. V. 82, p. 805. Tho Muncie
Hartford <cFt. Wayne bonds can be called Jan. 1 1925, or after, at par. A
S
s ln k in a fu n d on those bonds of 2V$% of gross earns, per ann. began July 1
1905 See V. 80. p. 1059. $81,000 have been retired. The Mun. & Union
City bonds are subj. to call at 105 and guar., p. & I , by Ind. Un. Trac. The
.
Marlon City 1st M . bonds originally matured M a y 1 1915, but were ex
tended to M a y 1 1919. Tho c l , trust notos were issued to refund a like
ol
amount of Anderson Elec. St. Ry. bonds which matured in 1912. They
f l duo July 1 1917, but were extended to July 1 1919. They aro secured
el
by 5150,000 Un. Trac. Co. of Ind. Gen. M. bonds.
D iv id e n d s . — 5 % was paid on f r t pref. stock to April 1914. None since.
is
Dlvs. on second pref. stock havo not boon paid since July 1912.
R E P O R T . — For cal. year, incl. Muncio-Portland line from July 1 1916:
C a le n d a r
C ross
N e t (a f t e r
O ther
B ond
S in k in g
B a la n c e ,
Y e a r — E a r n in g s .
T a xes').
In com e.
I n t .,& c .
Fund.
S u r p lu s .
1917___ $3,066,467
5900,268 516,531 $874,657 559,791 dof517,649
1916___ 2,789,341 1.036.910
16,983
865.148 56.518
132.227
Passongors carried in 1917, 19,683,276, against 18,489,915 in 1916.
R O A D . — Owns tne following l
ines: Muncio-Andorson-lndianapolls,
56H miles; Anderson-Marion-Wabash, 53>$ miles: Alexandria-ElwoodTipton, 20 miles: Indlanapolis-Kokomo-Logansport, 80 miles; KokomoPoru 19H miles; Muncie-Union City, 33 miles; Anderson-Middletown,
g u miles; also 10 miles of city lines in Anderson; 14>$ miles in Marion;
16 miles in Muncle, and 4 miles in ISlwood; total, 272 miles of interurban
and 44H miles of city lines. Also leases Muncie-Hartford CIty-Bluffton
line, 42 miles; Indianapolis-Newcastle-Muncie line, 624$ miles, and MunciePortland line, 32 miles; grand total, 453 miles. Through cars are run be
tween Indianapolis and Fort Wayne in conjunction with the Fort Wayne &
Nor. Ind. Trac. Co. Provides p a c k a g e fre ig h t s e r v ic e between Indianapplis
and Muncie and Indianapolis and Logansport and Peru, and to a l other
l
points on the system. Operates througn freight service between In
dianapolis and Fort Wayne. By contract until Nov. 1933 cars are run
over tracks of Indianapolis Street Ry. in Indianapolis. Carries e x p r e s s
matter per contract with Wells, Fargo Express Co.
A large central
power station, with necessary storage batteries at Anderson, operated on
a three-phase system, with 19 sub-stations, likewise equipped with storage
batteries, operatos entire system.
„ .
E Q U I P M E N T . — Jan. 1 191S. 95 city cars, 53 suburban, 93 Interurban,
30 freight and 89 service cars; total, 360.
OFFICERS.— Pros.. A. W. Brady, Anderson; V.-P.. Philip Matter,
Marion. Sec. & Treas., W m . I . Forso Jr., Anderson; Gen. Mgr., I . A.
I
I
Nicholl. General offices, Anderson, Ind.— V. 104, p. 1046; V. 105, p. 499;
V. 106, p. 87, 1681.
(1) Indianapolis Newcastle & Eastern Traction Co.
Leased to Union Traction Co. of Indiana on Oct. 25 1912 for 999 years.
The lease provides for the payment of a l taxes, interest on bonds, a sum
l
equivalent to 5 % on the pref. stock, and a definite annual payment of
$1,050 on the com. stock. A further amount, up to 510,420 a year, l
a
payable under certain conditions. Compare V. 100, p. 975.
Leases the Muncio & Portland Traction Co. for 999 years from June 30
1916: see terms below.
O R G A N I Z A T I O N . — Incorp. In Indiana on June 10 1912 as successor to
the Indianapolis Newcastle & Toledo Elec. Ry., sold at foreclosure. Has
private right-of-way minimum width 66 f . excopt in corporate limits,
t,
where shortest f r a n c h is e expires Apr. 7 1933. Under favorable contract
with Ind. Trac. & Term. Co. extending to 1933, operates through city into
Indianapolis Interurban terminal.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a t u r it y .
3500.000 Seo text.
C o m m o n $500,000 ($100)---...............
, 500 000 See text.
Pref $500,000 5 % cum ($100)......... .....
First mtgo $1,500,000 gold! 1912 6 g J-D
1,200.000 June 1 1919
$1,000......... ___c*tfjlnt. at Fidelity Trust Co., Phila.. Trustee.
B o n d s . — Of remaining 1st M. bonds, $100,000 may bo issued upon ful
filment of certain covenants and balance for 7 5 % of cost of extensions,
lmpts., betterments or acquisition of unencumbered properties. Red. as a
whole (but not le s on any int. date on 8 weeks’ notice at 1014$ and i t
s)
n.
V. 94, p. 1695. N o sinking fund.
,
R O A D . — Included in Union Traction Co. of Indiana.— V. 94, p. 1565.
1626. 1695; V. 96, p. 135; V. 100, p. 982; V. 102, p. 2341.
(a) The Muncie & Portland Traction.— A trolley road.
O R G A N I Z A T I O N . — Incorporated July 1905 in Indiana. F r a n c h is e s in
cities and towns 50 years; in counties perpetual.
_
l
t
Lease.— Was leased as of Juno 30 1916 for 999 years to tho Indianapolis
Newcastle & Eastern Trac. Co. In connection therewith tho co. s capital
ization was changed from $1,000,000 stock, a l of one class, to 8500,000
l
preferred and $500,000 common. The lease provides for the payment or
a l taxes, a sum equal to 5 % on the pref. stock, a definite annual payment
l
of $4,530 and tho payment of a further amount up to $17,370 a year con
tingent upon certain conditions.
_ ^
„
OFFICERS.— Pres., E. B. Ball; V.-P., W . O. Ball? Sec.. G. A. Ball;
Treas., F. O, Ball, a l of Muncie. Ind.; Asst. Sec.. W. H. ForseJr., Anderl
on, Ind.— V. 82, p. 1438; V. 102, p. 2342; V. 106, p. 1037, 1901.
ANNISTON, ALA.
ANNISTON ELECTRIC & CASCO.
„
.
„ _
Morged in March 1915 with the Alabama Powor Co., a subsidiary of the
Alabama Trac., Lt. & Pow. Co., for statement of which seo our “ Ry. &
Industrial Section.”
_____________
ASBURY PARK, N. J.
A T L A N T I C C O A S T E L E C T R I C RY.— Trolioy.
O R G A N I Z A T I O N . — Incorporated in N e w Jersey on Dec. 8 1905 as suc
cessor to the Atlantic Coast Electric Railroad Co., sold under foreclosure of
the general mortgage of the latter. Leasos the Seashore Electric Ry. of
Asbury Park until Juno 6 1937 at $10,000 per year and owns $150,000 of the
$200,000 total capital stock of that company (making not rental $2,500),
and owns a l of the stock of the West End & Long Branch Ry. and of the
l
Asbury Park & Sea Girt IIR,; tho former i leased from Aug. 3 1896 until
s
July 17 1945 at a nominal rental, and tho latter for 99 yoars at 6 % on stock
from Aug. 27 1898; both stock and bonds of Asb. Park & S. G. aro ownod.
Also entire stock ($100,000) of the Atlantic Coast Electric Light Co., which
supplies tho electric lights of Asbury Park, Allenhurst, Belmar, Ocean
Beach, Co m o and Spring Lake. The Seacoast Trac. Co. (capital $100,000),
running from Belmar to Spring Lake, 2 miles, has boon ieasod to the Atlantic
Coast Elec. Ry. for 99 years; i s stock and bonds aro ownod. F r a n c h is e in
t
Belmar expires in 1947; in Asbury Park In 1937: in Long Branch, some ex
- • ‘~
’ -“--m
---- tual; In Sea
iperpetual.
_
___________ _
ot aside an
order of tho Board or P. U. Co m m , requiring tho company to give transfers
in Asbury Park and Bradley Beach, holding that tho utility board cannot
violate a contract between the company and tho city by imposing addi
tional burdons or lowering rates, unless the company consents.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $1,000,000 ($100)..................
$1,000,000
Seo text
First mortgage gold $1,000
1895
5 M-N
800,000 M a y
1945
000_______________ ntf/Int. at Columbia Trust Co., N. Y., Trustee.
General mortgage $1,000,0001 1906
5 g J-J
1,000,000 July 1 1945
gold ($1.000)_______ ctf/Interest at Central Trust Co., N.Y..Trustee.
Seashore Electric R y stock—
___
5
200,000
----Seashore Electric R y f r t 1892 6 g J-J
isl
200,000 Jan. 1919
mortgago $200,000--- tfJlnt. at Seacoast Nat. Bk..Asbury Park, N. J.
Atlantic Coast Electric Light f ___
5 J-D
198,000 June 1 1945
f
irst mortgage $500,0001 Int. at Asbury Park & Ocean Grove Bank,
K0lj_______________ ntf l Asb.Pk. Morton Tr. Co., N.Y.,Trustee.
Neptune Electric C o ------- ---6%
40,000 ------ —
B o n d s . — Of the $1,000,000 1st 5s, $200,000 are rosorvod to retire a like
amount of Seashore Ry. 6s Tho latter are subject to call at 105. Thoy
.
f i duo originally in Jan. 1917, but were extended to Jan. 1 1919. Entire
ol
bonds ($50 000) and stock ($100,000) of tho Asbury Park & Soa Girt and
entire bonds and stock of tho Seacoast Traction Co. ($100,000 each) ar
deposited under tho new general mortgago.
D iv i d e n d s . In 1906 and 1907, 6%.
—
In 1908 to 1916, 3%; none since.
R O A D . — Belt line in Asbury Park, 5.85 miles; Asbury Park to Pleasure
Bay and North Long Branch. 14.60 miles; Asbury Park to Manasquan,
14.16 miles; total track, 36.08 miles. Connects at Pleasure Bay with the
N e w York & Long Branch Steamboat Co.
R E P O R T . — Years ending Dec. 31:
„„„
1917.
1916.
1915. * 1914.
1913.
1912.
Gross earnings..$424,934 $420,708 $409,007 $428,763 $437,856 $427,883
Oper. expenses.. 373,711 273,299 255,872 248,953 236,783 225,683
Net earnings
from oper.. $51,224 $147,409 $153,135 $179,810 $201,073 $202,200
In 1917 misc. income $20,891 fixed charges, SI07,685; deficit, $35,570.
OFFICERS.— Pres., S. F. Ilazelrigg: Sec. & Treas., G. B. Cade; Supt..
C. E. Hereth.— V. 81, p. 974. 1435, 1722.
ASHTABULA, OHIO.
A S H T A B U L A R A P I D T R A N S I T CO.
„
„
In Feb. 1907 control of this road was acquired by L. A. Robison, Pres,
of tho Ponn. & Ohio Ry.. and associates.
O R G A N I Z A T I O N . — Chartered Oct. 7 1890.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
- -___________
$500,000
....
8tock, $500,000 ....
1st mtge, $75,000,
goldT 1891 6 g J-J
75,000 July 1 1921
($1,000)_________ c*&r Jlnt. at Central Trust Co., Trustee, N. Y. O.
2d mtge, $500,000.........(1907 5 M-S
307,000 Sept 15 1927
ICltizens S. & T. Co., Cleveland, trustee.
B o n d s . — $75,000 2d mtge. Donds are reserved for prior liens. 1st M .
bonds originally matured July 1 1911 but were extended 10 years to July 1
1921.
E A R N I N G S . — Years ending Dec. 31:
, „
C a l. Y e a r s —
G ross.
N et.
T a xes.
In terest.
B a l., S u r p .
1917_________ $104,242
$22,270
$6,898
$23,866
def.$8,494
1916_________ 100,195
32,720
6,751
23,217
2,752
22,733
--------1915... ...... 80,711
R O A D . — Operates 5 miles of track on 5J$ miles of street.
OFFICERS.— Pres., L. A. Robison. Pittsburgh: Sec. & Treas.. W y n B.
Morris, Pittsburgh; Supt., Robert Hughe Ashtabula.— V. 98, p. <61.
s,
P E N N S Y L V A N I A & O H I O RY.— A trolley road.
The same Interests control the Ashtabula Rapid Transit Co.
On June 16 1917 Judge Roberts of the C o m m o n Pleas
Court at Conneaut. O., appointed Supt. Palmer Wardman receiver, on
application of the Citizens’Savings & Trust Co., mortgage trustee. Press
dispatches stated that “the action came about through efforts of Conneaut
stockholders to defer the payment of interest now due. V. 104, p. 2553.
O R G A N I Z A T I O N . — Incorporated March 17 1898STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock ($100), $1,600,000 auth....
......
w—
First mtge, $600,000, gold.I 1901
5 g M-S
600,000 Mar 15 1921
$500 each___________ c*/Int. at Citizens’Sav. & Tr. Co., Clev.. Trus.
Jefferson Division ($500). 11902
5 g M-S
100,000 Mar 151922
$100.000..... ... .... (Int. at Citizens’Sav. & Tr. Co.. Clev.. Trus.
E A R N I N G S . — For calendar year 1917, gross, $116,027; net, S20.759. In
1916, gross, $119,576; net, $37,328.
„
0 „
..
R O A D . — Owns and operates the Conneaut city line, 3 miles, and has
built westward from Conneaut to Kingsville & Ashtabula, 13 miles, and
south from Ashtabula to Jeffersoa. 10 miles; total, 26 miles.
OFFICERS.— Rocoiver, Palmer Wardman; Pres., L. A. Robison. Pitts
burgh; Sec. & Treas., W. B. Morris, Pittsburgh. Office at Ashtabula.—
V. 82, p. 929. 987; V. 104, p. 2553.
R eceiv ersh ip .
—
ATLANTA, GA.
G E O R G I A R A I L W A Y & P O W E R CO.
O R G A N I Z A T I O N . — Incorp. In Georgia on Oct. 16 1911 to take over
the following properties (V. 93, p. 1191, 1725):
Atlanta Hydro-Elec. Power Co.
IInter-State Power Co.
Atlanta Water & Elec. Power Co.
Savannah River Power Co.
Georgia Power Co.
. 1South Carolina Power Co.
In June 1916 purchased the Gainesville Ry. & Power Co. (see p. 45 of
”E1. Ry. Section” for M a y 1916) for about $180,000. V. 103, p. 144.
In Jan. 1917 the company acquirod a l the interests of the Franklin Light &
l
Power Co., Broad River Power Co. and the J. B. McCrary Co. at Hart
well, Ga.
Also leases the Georgia Railway & Electric Co. (see below).
In July 1917 issued $2,500,000 6 % collateral gold notes to provide in
part for improvements and now construction estimated to cost S4,830.000.
See V. 105, p. 606; V. 106, p. 1569.
W a g e I n c r e a s e . — V. 105, p. 1998.
,
.
,
.
.
R a le s . On Apr. 7 1918 a committee of stockholders in an advertisement
—
published in tho Atlanta “Constitution”, urged that tho company bo per
mitted to increase rates in a l departments so that the work on i s new water
l
t
power plants may be speedily completed, thus f l i g ono of the most vital
iln
needs of tho community and aiding the country in winning the war. The
officers of the company havo been directed to apply to the Georgia RR.
Comm, for the desired increases. V. 106, p. 1688.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Common. $15,000,000 ($100)......... ----- S15.000.000
. . . . . . . .
1st pf$2,000,000 6 % cum($100)--Q-J
2,000.000 See text
2d pf$10,000.000 4%n-c($100) — - - - - - 10.000.000 - - - - -
1st & rer mtge $30,000,000 g 1914 5 g A-O
12,167,000 Apr 1 1954
See text sinking fund.-.c*Jlnt. at Fidelity Tr. Co.. Phila.. Trustee.
Atlan Wat & El P 1st M l 1903
5 J-J
1,400,000 Jan 1 1943
(closed) g ($1,000)-_c*cptJlnt. at Columbia Trust Co.. N. Y., Trustee.
Collateral gold notes $2,500,-1 1917
6 g F-A
2.500,000 Feb 1 1920
000 ($1,000)________ tfJInterest at Drexel & Co.. Phila., trustee. .
S tock . After the 2d pref. and common stocks havo both received 4 %
—
per annum for 3 successive years, the 2d pref. stock becomes com. stock.
B o n d s .— O t the S30.000.000 1st & ref. mtge. bonds. $11,917,000 are
reserved to retire prior liens, $8,334,000 are pledged as security for the
collateral gold notes, and balance i for future additions, &c., under pro
s
tective restrictions. Subject to call at 1021$ and int. on April l 1919 to
1923. and thereafter at 105 and int. after 56 days’ notice. Bonds are
callable for sinking fund at same rates and dates. Annual sinking rund
payments are as follows: 1919 to 1924, $75,000; 1925 to 1928. $100,000;
1929 to 1953. $125,000. Coupon bonds $1,000 or £205 15s. 3d. and $500
or £102 17s. 7d. Of the $1,100,000 outstanding Blue Ridge Elec. Co. 1st
mtgo. bonds, duo July 1 1940, $863,500 were stamped and purchased by
tho Georgia Ry. & Power Co. as per agreement made by Georgia Power Co.
dated Oct. 1 1916. Remaining bonds were called for payment July 1
1917 at par and interest. Both Savannah River Power mortgages were also
called for payment in 1917. The Atlanta Water & Elec. Power bonds are
subj. to call at 105. The issue was originally for $1,500,000 but has been
closed at $1,400,000. Sk. fd. Jan. 1 1908 to Jan. 1 1917, in l , $5,000 per
c.
ann.; thereafter until maturity, $10,000 per ann. See V. 102, p. 1540.
$72,000 in sink. fd. Collateral notesfof 1917 aro secured by deposit or
$3,334,000 1st & Ref. M. bonds. Callable after Aug. 1 1918 at par and int.
in amounts not less than $500,000. They are free of any tax other than
inheritance tax, which the company m ay be required to withhold.
D iv i d e n d s . An i i i l div. of $4 70 per share was paid Jan. 20 1913 on the
—
nta
1st pref. stock, covering the 9 2-5 months since i was issued (March 1912).
t
In Jan. 1917 paid 3 % on account of accumulations (24%). .In April 191 <
paid 1'A % regular and H % extra on account of accumulations. In July
1917 paid l ' A % regular and 1)4% extra account of accumulations; i now
s
paying quar. 1)4% regular and 1 % extra on account of accumulations.
R E P O R T . — Of combined properties (1917 report In V. 106. p. 1569):
C a le n d a r
Y ear—
G ro s s
E a r n in g s .
N e t (a ft e r
T a x es ).
O ther
In com e.
I n t . . R e n ta ls . B a la n c e .
S k . F d s . , & c . S u r p lu s .
$7,807,039 $2,915,597 $189,271 $2,485,242 $619,626
1917...
1016......... 6.985,709 3,076,929
120,359 2,383,681
813.607
1916
6.507.657
2.795.576
75.340 2.378.742
492.174
Passengers carried (on city system) in 1917, 72,076,392, against 66,
520,050 in 1916.
P R O P E R T Y . — Total miles single track, 247.706. Standard gauge.
70, 80 and 90-lb. r i s Owns water power sites in Northeastern Georgia
al.
capable of an ultimate development of over 577,900 h. p.; present develop
ment, 160,800 h. p. Transmission and distributing lines aggregate 6<6.85
miles. The interurban line from Atlanta to Stone Mtn. was completed in
Nov. 1913. The hydro-elec, plant at Tallulah Falls was placed in operation
April 1 1914. The sixth and last unit of 12,000 k. w. of this development
i expected to be ready for service in the summer of 1918.
s
6
E L E C T R IC R A IL W A Y S
OFFICERS.— Chair, of Board, I . M. Atkinson; Pros., P. S. Arkwright,
I
V.-P. & Gou. Mgr., G. W. Brino; V.-P. & Oper. Mgr., W. I . Glenn;
I
Sec., W . H. Wright; Troas., I S. Mitchell Jr.; Aud., I . Flynn; a l of
.
t
l
Atlanta.— V. 105, p. 1998; V. 106, p. 710, 1461, 1563, 1688.
(1) Georgia Railway & Electric Co.
L e a s e . On Jan. 30 1912 the stockholders of the Georgia Ry. & Elec. Co.
—
approved the 999-year lease from Jan. 1 1912 to the Georgia Ry. Sc Power
Co.jwhlch provides that the latter company guarantee a l the fixed charges
l
9n Pr) ' stock and divs. of 8 % on com. stock, the holder of oach
£f
$100 com. having received, as additional consideration for the lease, S3.12H
in 1st pref. and $125 in 2d prer. stock of Georgia Ry. & Power Co.. V. 94.
p. 982, 1119. The shares of the Atlanta Gas Light Co. and of the Atlanta
Northern Ry. are not included in the premises demised under the lease,
but the lessor assigned and transferred to the lessee, for and during the term
of the lease, the Income arising from any and a l of the said shares.
l
.«9,PQ A N I Z A T ION.— Incorp. In Georgia on Jan. 28 1902, and on April 1
took over the Atlanta Ry. & Power Co., the Atlanta Rap. Tran Co.,
the Georgia Electric Light Co. and the Atlanta Steam Co. F r a n c h is e
for the greater part perpotual; others 50 years from August 1899. C o m
prises the street railway, electric-light, gas, power and stoam-heating
interests of Atlanta and Fulton County. By terms of tho ordinance per
mitting consolidation, the company paid tho city of Atlanta $50,000 in
cash, and agreed to pay a tax on gross receipts of 1 % for f r t 3 years, 2 %
is
for tho noxt 20 years and 3 % thereafter. V. 74, p. 397, 727. In Oct. 1902
both pref. and com. stock were listed on Boston Stock Exch. V. 75, p. 849.
They are also listed on the Louisville Exchange.
„ I n June 1903 acquired the entire capital stock ($600,000 6 % prof, and
$1,014,625 com.) of the Atlanta Gas Light Co., comprising the gas business
of Atlanta and vicinity, by exchange of stock, $ for $. V. 76, p. 1406.
Ihe gas company, howover, maintains a separato organization. Also owns
’
entma capital stock of the Atlanta Northern Ry.
„ STOCK A N D BONDS—
D a te .
In terest.
M a tu r ity .
O u ts ta n d in g .
Q-F
C o m m o n ($100)__________ ____
See text
$8,514,600
Preferred 5 % non-cumulatlvel___
5 Q-J
See text
2,400,000
$2,400,000 (par $100).... /
Ref & tap mtge $20,000,000| 1909
5 g J-J
.......... .....
4.336,000 Jan 1 1949
gold ($1,000)-------- c*(Int. at Amer. Trust Co., Boston, Trustee.
First cons mtge $11,000,000 .1902 5 g J-J
5,760,000 Jan 11932
gold sink fund ($l,000)..c* Int. at Old Colony Trust Co., Boston, Trus.
Atlanta Street Railroad f r t 1890
is
6 g J-J
225,000 July 1 1930
mortgage gold (par $1,000) Int. payable In N. Y. at Fourth Nat. Bank.
Central Trust Co., N. Y., Trustee.
Atl Cons St Ry 1st consM$2,- 1899 5 g J-J
1,900.000 Jan 1 1939
500,000 g($l,000each) — c* Int. payable in N. Y. at N. Y. Trust Co. and
at Merc. Tr. < Dep. Co. of Balt., Trustee.
&
Georgia Elec Light Co 1st M ,,1900
mn
J
5 g J-J
1,350.000 July 1 1930
$2,000,000, gold, subject to{Interest at Old Colony Trust Co., Boston,
call at 105___________ c*i Trustee.
Atlanta Gas-Light Co, 1st M f 1897
5 g J-D
1,150,000 June 1 1947
$1,150,000, g ($1,000)--C*(lnterest at N e w York Trust Co., Trustee, or
„ ,
.
.
Bank of Scotland, London. Eng.
B o n d s . — Of the $11,000,000 Georgia Railway & Electric Company bonds
(closed mtge.) of 1902, $3,500,000 are reservod to retire underlying Hens;
balance has been retired. Rod. on any int. date at 110 and int. A
s in k in g f u n d became operative In 1907 which retires $10,000 of bonds
each year from 1907 to 1911, inclusive; $25,000 per annum from 1912 to
1916, inclusive, and $50,000 per annum thereafter. See V. 74, p. 629. 727.
A sinking fund of $6 60 per $1,000 bond on the Atlanta Gas Lt. Co. bonds
i operative; $231,000 bonds In fund. Atl. Consol. St. Ry. bonds are red.
s
M ?„ykole at 107H, but $25,000 In Jan. of each year for sinking fund at
at 105- Of tho re . Sc impt. mtge. bonds, $11,230,000 are reserved to retire
f
prior liens (Including tho $400,000 Atlanta & Northern bonds) and re
mainder Tor extensions and Improvements up to 75% of actual cost. Bonds
are subjoct to call on 50 days' notice at 105 and I t ; a sinking fund of
n.
1 % of bonds out bogan in 1910. $195,000 retired by sinking fund.
D i v i d e n d s . Dividends are now paid under lease (seo above). For record
—
of dividends paid prior to leaso, seo this section for January 1917.
E A R N I N G S . — Included In report of Georgia Ry. Sc Power Co. abovo.
R O A D . — Owns 210.555 miles of track (single-track basis). 70, 80 and
904b. r i s 357 passenger and 22 other cars. 2 power stations.
al.
OFFICERS.— Pres., Frank E. Block; V.-P., T. K. Glenn; Sec. Sc Treas.,
W. H. Wright.— V. 98, p. 304, 386; V. 99, p. 1528; V. 100, p. 733; V. 106,
p. 710.
(a) Atlanta Northern Railway Co.— A trolley road.
O R G A N I Z A T I O N . — Entire stock i owned by the Georgia Railway Sc
s
Electric Co., which guarantees the bonds.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $100,000.........................
$100,000 .........
P1^ t ort:g;''^0 1400,000 guarl 1904
-J5.
5 g J-J
400,000 July l 1954
($500 and $1,000) gold..c*j Int. at Old Colony Tr. Co., Boston, Trustee.
B o n d s . — Are guar., p. Sc I , by end., by the Ga. Ry. Sc Elec. Co. Are sub
.
ject to call on any Int. date at 110 and int. A s i n k , f u n d of $5,000 per ann.
began In 1909; $49,000 bonds are held alive in sink. fund.V. 79, p. 680,
E A R N I N G S . — For years ending Dec. 31:
Y ear—
G ross.
N et.
T a xes. I n t ., A c .
B a la n c e .
1916................$126,207 $27,932 $5,528 $27,503 def.$5,0991915................ 122,634 27,277 ---- 31,748--- dof. 4,471
1914
........ ... 133,422 30,970 ---- 30,869--- sur. 101
R O A D . — Operates 18 miles of track from Atlanta to Marietta, 15.2 miles,
which are owned and mostly on prlvato right of way. Has arrangements
with Ga. Ry. & El. Co. for terminals and trackage rights Into tho city of
Atlanta, pStandard gauge; 7 cars. Commenced operation July 17 1905.
ATLANTIC CITY, N. J.
ATLANTIC C IT Y & SHORE CO.
— Incorporated In 1909 In Delaware. Owns 2,995 of
the 3,000 shares of tho Atlantic Sc Suburban Ry. Co. stock and a majority
or the stocks of the Central Passongor Ry. Co. (.$40,000 bonds) and Atlantic
City & Shore R R . Co. Also owns a l of the $591,100 outstanding 1st mtge.
l
bonds of Atlantic Sc Suburban Ry.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity
Stock, $1,000.000......... .............
$995,500 .......__
Coll trust $591,100......tf 1910
4%
591.100
See text
Tho collateral trust 4s are secured by $591,100 Atl. & Sub. 1st mtge
bonds and 2,995 out of 3,000 shares of stock of that company. They f l
al
due Feb. 1 1928 or Fob. 1 1940.
OFFICERS.— Pres., Harry E. Kohn; Sec., L. R. Isenthal; Troas..
I L. Stone.
.
(1) Atlantic City & Shore RR.— An electric road.
D e f a u l t — R e c e iv e r . — Int. due Dec. 1 1915 was defaulted, due largely to
losses caused by jitney buses. Judge Clarence L. Cole was appointed re
ceiver. Tho following bondholders’ committoe was organized; Goo.BurnErank 1L Bachman. Tilghman Johnson and John Mcllhenny.
V. 101, p. 1884.
O R G A N I Z A T I O N . — Incorporated In N o w Jersey Oct. 21 1905 with a
perpetual charter. Leases Atlantic City Sc Ocean City RR.— soe terms
below— and owns $218,500 of the common stock of tho Atlantic City &
Ocean City C o m p a n y , which holds a l tho stock and bonds of tho Atlantic
l
City & Ocean City RR. V .85, p. 158. Cent. Pass. Ry. i operated under
s
traffic agreement.
C o n tr a c t w ith W e st J e r s e y A S ea S h o re R R . — An agreement has been
entered Into with the West Jersey & Sea Shore RR. by which tho
Atlantic Avo. line of the lattor road, running from Atlantic City to Longport, 8 A miles. I operated by this company.
s
F a r e I n c r e a s e s . — On Nov. 5 1917 tho Bd. of P. U. Comm, of N. J. auth.
the co. to raiso tho round-trip faro betweon Ocean City and Atlantic City
from 50 to 60 cents, or doublo the existing one-way faro. In M a y 1918
was auth. to increase tho faros betweon Atlantic City and Pleasantvillo
2 cents and to increase rates in a l other zones affected 1 cent for every fare
l
collected, tho sale of strip tickets at 6 for 60 cents to be continued. V. 106,
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $1,000,000 ($100).................
$1,000,000 .....
cod trust deed! 1905
5 g J-D
950,000 Dec 1 1945
$1,000,000 ($1,000) g.c*tf/In*. at Girard Trust Co., Phlla., Trustee
Bonds.— N o sinking fund, but can bo called at any time at 110 and lo .
t
R O A D . — Operates 47.45 miles of track in and around Atlantic City, in
cluding a road through Pleasantvillo, Linwood and Somers Point, to Ocean
( ity, the latter two points being connected by 2 miles of trestle and bridgo
<wned by the Atlantic City Sc Ocean City RR.
E A R N I N G S . — For cal. yoar 1915, gross. $452,678; deficit after doductng taxes, rentals, and int., $60,128. In 1914, gross, $632,728: not. after
axes and rentals. $66,392; int., $47,500; surplus. $18,892. N o earnings
lisned since appointment of receiver.
[Vol. 106.
OFFICERS.— Pres., I H. Silverman; V.-P., Charles Evans; Sec., J. M.
.
Campbell; Troas., I L. Stone: Gon. Supt., A. J. Purinton.— V. 86. p.
.
1099; V. 88, p. 685; V. 90, p. 1424; V. 101, p. 1806, 1884; V. 106, p. 2122.
(n) Atlantic City & Ocean City Company.
rho Atlantic City Sc Ocean City C o m p a n y was organized In Delaware
and owns the entire ($180,000) stock and a l tho ($180,000) bonds of the
l
Atlantic City & Ocean City RR., and bas piodgod them as security for tho
collateral trust bonds below. Of the common stock of the Atlantic City &
Ocean City C o m p a n y . $218,500 I owned by the Atl. City & Shore RR. Tho
s
latter leases the Atl. City & Ocean City RR. for 999 years, tho rental be
ing $19,500 per annum, and an additional contingent sum oqual to 33 1-3%
of the net surplus, but not to exceed $25,000 per annum.
S T O C K A N D B O N D S — ■ D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$220,000
_
.
Common, $350,000......................
Prof 5 % non-cum $250,000................
175,000 .........
Collateral trust gold $500,-1 1907
5 M-S
350,000 Mar 1 1947
CW)0 redeemable 110 & Int tfjGirard Trust Co., Philadelphia, Trustee.
S to c k . — The pref. stock i redeemable at par.
s
R O A D . — The Atlantic City Sc Ocean City RR. owns 2.61 mllos of road
from Somers Point, across Great Egg Harbor Bay, on bridge and trestles.
Ocean City. Ralls, 85 lbs. V. 85. p. 153; V. 87. p. 165.
OFFICERS.— Pros., Penrose Kleishor; Sec., J. M . Campbell; Treas.,
Iivin L. Stone.
(2) Atlantic & Suburban Ry.
O R G A N I Z A T I O N . — Incorporated In N e w Jersey Dec. 7 1908 as a re
organization of tho Atlantic City Sc Suburban Traction Oo.fsold under foraclosure of 1st mtge. V. 87. p. 1237. 1532.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity ,
Stock, $750,000 ($o0)._____ _____
______
$150,000 ......
Pl^ f J S ? rtgaS0> 5650,0001 1909
c
,
4 g F-A
591,100 Aug 1 1929
, (51.000)
e*tf( Int. at Cambridge Tr. Go., Chostor, Pa., Tr.
Prior len M JtOO OOO. guarl--5%
10(5.000 Fob 1 1925
p < 1 by A C Sc S Co __ tf1
S ,
B o n d s . — Bonds havo no sinking fund.
V. 87. p. 1237.
E A R N I N G S . — For calendar year 1917, gross. $84,536: not, $22,155;
other nc.. $3,036; Interest, taxes, &c., $37,812; l ss, $12,621.
o
_R'O AD.— Operates 16 .13 miles of track from Atlantic City to Ploasantp0,n* and Absecon. Standard gauge. 80-lb. T r i .
al
OFFICERS.— Pres.. Harry E. Kohn; Sec., J. M. Campbell; Treas.,
Irvin L. Stone.— V. 87. p. 1299, 1532; V. 88, p. 881; V. 90. p. 1424.
AUGUSTA, GA.
AUQUSTA-AIKEN R Y. & ELEC. CORPOR AT ION.
O R G A N I Z A T I O N , — Chartered In March 1908 undor laws of South
Carolina as Augusta Sc Columbia Ry. Co.; name changed to abovo in April
1911 anil I a consolidation of the following companies:
s
Augusta-Alkcn Ry. & Elec. Co.
I Augusta Ry. & Elec. Co.
Augusta Sc Aiken Ry. Co.
| North Augusta Elec. & Impt. C o
Owns and operates entire railway systems of Augusta, Ga.. and North
Augusta, S. O,, and a lino from Augusta to Aiken, S. O. Also furnishes
entire eloctrlc light and power service In Augusta and i s suburbs and owns
t
valuable real estate In central part of Augusta. Railway fr a n c h is e In
Augusta expires 1939: electric-lighting f r a n c h is e runs until 1939 or longer.
1 on Private right of way. V. 92. p. 1177. Also owns
9
the $500,000 com. stock of Georgia-Carollna Pow. Co., Incorp. In So. Caro,
to construct the hydro-elec, plant on Savannah River, which was placed in
operation Feb. 6 1914 with an initial installation of 14.000 h. p., ultimate
capacity about 2 8 , 0 0 0 h. p. Operation of thLs plant was taken ovor hv the
Augnsta-Alken Ry. & El. Corp. on July 1 1914. The company guarantees
prin. and Int. and sink, fund on tho Ga.-Carollna Pow. Co. 1st M.5s.
Early in tho f l of 1916 disposed of I s holdings In tho North Augusta Hotel
al
t
Co. and North Augusta Land Co.
On June 23 1915 tho stockholders authorized an Increase In tho 8 % cum.
pref. stock from $1,500,000 to $2,250,000, the now stock being Issuod In
for th« 5750.000 pref. stock of tho Oeorgla-Oarollna Invest. Co.
(a holding co. formerly controlling tho Ga.-Caro. Powor Co.), which has
boon dissolved. V. 100. p. 1830; V. 101, p. 283.
. ! 'arf s- On Mar. 1 1918 Increased fares from Augusta to Aikon, S. O.,
—
from 25 conts to 40 conts, with tho approval of tho S. C. RIt. Commission.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $2,2o0.000 ($100)
... ...... .
$2,250,000
W
000 (*■
■■—
— -M
■—
—
Prof 6 % cum $2,250,000 ($100)___
Q
2.250,000
Soe text.
P1” t raft 57.500,000 goldf 1910 5 g J-D
,
3.100.000 Dec 11935
($1,000) - - - - - - - c*&r*tf[Central Trust Co., New York, Trustee.
Augusta R y Sc Elec 1st M g 1900 5 g J-D
1.000.000 Juue l 1940
$1,000,000 ($1,000) -c*ntf(Int. at M ot.Tr. & Dep. Co.. Balt ?Vusteo
Oa-Caro Pow 1st M $5,000,-1
000 g ($500 and $ 1 ,0 0 0 ) - - .) 1912 5 J-J
2.750,000 July 1 1952
guar — ..— ------c*tflCentral Trust Co., N e w York, Trustoe.
57,500,000 1st mtge. bonds, $80,000 are in treasury,
in sink- RL (both i c . in amount roported outstanding);
nl
$967,000 are reserved to retire Aug. Ry. & Elec, bonds and balance I for
s
additions. See. SuoJ. to call as a whole (or in part for sink, fd.) at 105 and
‘
nt- on an7 hjt. day on 30 days’ notice. Interest i payable at Redmond
s
^ or'‘ Sinking fund began in 1916, providing for payment of
c
$25,000 per ann. 1st 5 yoars, Increasing to S40.000, $50,000 aud $65,000
for oach successive period of 5 yoars until maturity of bonds.
V. 92, p.
1177. Augusta Ry. & Elec, bonds can bo called in 10, 20 or 30 yoars from
date at 105 and int. on 6 months’ notlco; sinking fund of A of 1 % began
Juno 1 190.) for 15 yoars, 1 % for next 10 yoars and 2 % or remaining 10
years i ^$91,000 (inch In amount outstanding) was held in sinking fund
Tho Ga.-Caro. Pow. bonds are subj. to c l as a wholo, or in part, for
al
sk. fl at 105 and int. $53,000 are in treasury and $14,000 in sink, fund
i.
(not included in amount reported as outstanding). Sk. fd. beginning with
1918 wi l be sufficient to retire a l the bonds ar maturity. They .are guar
l
l
p., i Sc s f , by Aug.-Alken Ry. & Elec. Corp. V. 95, p. 179.
.
. .
"
D iv id e n d s . Initial dividend on preferred— I A % — paid Doc. 30 1911.
—
same rate quarterly to and Inch Juno 1914. None since;
R E P O R T . — For years onding Doc. 31. 1917 report In V. 106, p. 2116.
C a le n d a r
,X,eLlr —
G ro s s ( A l l
§9},tr t 3 ) :
-c
N e t a fter
T a xes.
I n t. on C o. In t. on
O th er
B on ds.
S u b .C o .B d s. I n t . , A c .
B a la n ce
S u r p lu s .
}9}7 -..... ’§2§.524
I
3402,424 $193,189 $137,500
$9,781 .861,954
1916------$838,456$408,735$195,492 $137,500 $15,682 358.061
L a te s t E a r n in g s . — For 12 mos. ended Mar. 31:
1917- 1S... 3977,139
5449,169 $192,427 $137,500
$8,310 $110,932
1916-17---- 793.465
404,336 194,974
137,500
15,343 50,519
R O A D . — Owns and operates 53.2 miles of track, of which 28.92 miles
?re. ™ y.
i
an(1 24.28 miles Interurban between Augusta and Aiken, 60
to 100-lb. 4 r i s Standard g3Uge. Owns Lake View Park on Lake
al.
uimsteaa.
OFFICERS.— Pres.. F. Q. Brown; V.-P., J. H. Pardeo and J. K. Choate;
So<k. o < r }
’. n ?rT,2£s”
H. Thomas; Mgrs., J. G. Whlto Mgt. Corp.— V. 103.
p. 318; V . 104, p. 1898. 2338; V . 106, p. 1343, 2010, 2117.
AUSTIN, TEX.
AUSTIN STREET RY .— A trolley road.
^ ? ^ G*
A1^yZ Electric 7rInco^poraJe 1 ,n Texas on Jan- 3 1911 as successor
<
to the Austin ^ T I? ^ ’
Ry. F r a n c h is e expires In 1912.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
?o°’
x o iPrenx( 1
!!S0).................
t
$560,000 Soe text.
Kl0^*5 0' ? (5100) 6 % n-c— ............
^ 0!0
250,000 Soe text.
S1,500’
000) 1911 5KJ-3
734,000 Jan 11936
gold ($1,000)
c*tf JInt. at Equitable Trust Co.. N. Y.. trustee
Bonds.— $714,000 1st & ref. bonds are rosorved for additions, &c. Thov
are subject to caU on any Int. date at 102W. Annual sinking fund of 2 %
v - “ • "• IS5: v ' « • »•
'»
D iv id e n d s .
Prior to 1915 paid 0 % on pref. and 4 % on common stock.
N o later Information.
E A R N I N G S . — For yoars ending Doc. 31:
A Y~a r
G ross.
N et.
I n t . A T a x . S in k . F d . D e p r e c .
S u rp .
19}7......... S£57.363 597,712 $59,536 $15,720 $17,(354 $4,8(52
19t>-— tY ””7 *
^,V
x ——— 269,09*1 106,020
51.717
15,783
(7)
(?)
22 miles of track. 55 and 72-lb. r i s 45 cars.
al;
OFFICERS.— Pres., W. J. Jonos; V.-P., F. H. Watriss; Soc., D. A.
£ USi wii
)
^ eX’ rA sst’ Sec., G. P. Gannett, Augusta, Me.; Treas.
: T
‘
AssR. Treas., G. E. Macomber, Augusta, Me.— V. 93, p.
ozo, 14oi, 1531.
ELECTRIC RAILW AYS
MAY, 1918.1
AYEE, MASS.
R y ., and associates acaulrod con trol.
O R G A N IZ A T IO N .— Incorporated in Massachusetts In 1903.
STOCK AN D BONDS—
Date.
Interest.
SKf S W f f i v
gold ]
3* “ *
R O A D __ M iles o f track. 414; cars, 2,073; gauge, 5 ft . 4H Inch. R alls,
70db.A and 9-in. and 124H-lb. girder. Capacity of (4) generating sta
T
tions, 42,155 k .w .; capacity of (6) sub-stations. 40,500 k.w.
REPORT for the year ending D ec. 31 1917 In V . 106^1). 1 6 ,9 :1914
^ ^ S S ^ ::::2 | ^
-w
oe l i w im ’ f « ® “» " ‘i'ii>S
S ra ? S - V e v e n u ^ : : : : $ f ^ : M o : | t
pe
gaSBggSar.*5:::::
Ifc g fc ffi
f i l l
s | :o | :i|
924^ 4
$9,203,839
909J44
N et oper. incom e------ $3,685,676
Other incom e...............
96,101
D M d 'm d s .-m 1916. 2 % ; 1917, 6 % .
D iv id e n d s .
S u r p lu s .
Cal. Y e a r - G r o s s - $1, 778
$13,750 (6 % )$1 6 .5 0 0 $ 1 6 3 0
i 9 i 6: : : : : : : 58.278
2 0 .4 7 2
1,764
13 ,750 (2 % ) 5 .5 00
2.986
R O A D .— Operates 14 miles between N orth C helm sford, a
Lowell and tho village o f A yer, with a spur running from N orth C helm s
ford to’ W estford; connects at N orth Chelm sford with B a y -V a t o S t . I
lly.
and at A yer vrlth Fitchburg & Leom inster St. R y . Has 11 passenger
Cao F F I O E R s l—
-I?res.f W !*W^Sargent; V .-P .. O . F Baker; Sec. & T re e s ..
R . N . W allis, all or Fitchburg, M ass.
BALTIMORE, MD.
.
Street railways o f Baltimore pay a park tax o f from 1 % to 9 %. ° f ? ro2!
!;
from lines within City Limits, except on turnpikes and private rights o f way, and
are required to pave between tracks and two feet on each side.
U N ITE D R A IL W A Y S & E L E C T R IC C O . O F B A L T IM O R E . T rolley.
O R G A N IZ A T IO N .— Incorporated at Annapolis M arch 4 1899. C om
prises all the passenger railways in Baltimore C ity and Baltknore C ounty
and linos extend Into Anne Arundel C ounty and Howard C ou n ty. Through
the present and previous consolidations, embracos the foilowm gBalttmoro Catonsvllle Sc E ll i c o t t s Central ~ ”
‘ ’ Railway C o.
~~
G w ynn’s Falls R ailw ay o f Baltimore
Mills Passenger R R .
C ity.
Baltimore C ity Passenger R y . C o.
M aryland T raction.
Baltimore Consolidated R y . C o.
Pimlico & Pikesvllle R R .
Baltimore Sc Curtis B ay R y.
B ait. Gardensrllle & Belalr E lec. R y . Shore Line E lectric R y .
laltimore k N orthern J'.mc R y . v/u.
Baltimore « jNorwiorn Elec ivy. C o. W albrook Gw ynn-Oak Sc , owhatan.
Also owns all tho stocky and holds a lease o f the Baltimore Sparrows
P°A liifd ComptmT-— In A u g.°i906 tho M aryland E le e .R y ., wh,cb ^ d agreed
to provide funds for needed Improvements and acquisitions o f the Unitea
R y . Sc E lec. C o ., was consolidated with the B alt. & Annapolis Short Line,
thus form ing tho M aryland E lec. R ys. See statement o f that co. below
Power Contract.— In Feb. 1911 entered Into a 15-yoar con tract with Penn
sylvania W ater & Power C o. for supplying pow er in conjunction witn
United Railways C o. for operation o f cars. V. 92, p . 407.
_
Favorable Tax Decision.— On June 29 1909 the C ourt o f Appeals o f M ary
land held that the park tax o f 9 % on gross earnings o f Unes within ' ity
c
limits was Intended to bo In lieu o f all othor taxes, and that no furthor tax
on tho intangible property can bo levied without express JoffeJ^ive nnthor
ity . Tho easements In 14 miles o f turnpikes in annexed districts were hold
tOIn0AprU m 3 Judge B ond in the C ity C ourt at Baltim ore decidwl that the
com pany must pay cost o f repaving streets between tracks and 2 ft . on
either side
Seo V. 96, p. 1090. On A ug. 5 1913, the C ourt o f Appeals of
M aryland reversed tho ruling and unanimously held that com pany s obli
gation with respect to tho track aroa was to repair and not to re-Pay o . l n
F ob. 1916 tho same court again hold that co . Is required moroly to keep
U*In J m iV l9 l4 t h e M aryland C ourt o f Appoals, reversing the lower C ou rt,
hold that the State Roads Comm ission cannot recover from the eJe^rtc
railway com panies tho cost o f changing and re-locating tracks in building
the system o f State highways. V . 98. p . 1995.
Wage Increases.— V. 103, p. 1413; V . lOo, p. 1421; V . 106, P- 1345.
STOCK AN D BONDS—
Date.
Interest. Outstanding. D iv.orM a t.
C om m on, $35,000,000 ($50).............. 4 Q-J 15 $20,461,200 A p r ’ 18.1%
J-D
____
P ref, cum , $14,000,000 ($50) — . . .
—
4. J-D
23,000 D oc 17 2 %
1949
4 g J-D
13.977,000
Inc ’ mtgo, g, 514,000,000, f 1899
lo v u
i k
lo.v ii.u u y
cum "Maryland Tr Co,(Payable
Trus ($1 000) _____c ’ n tflln t. at
1st con mtgo, g, $38,000.0001 1899
1 ($1,000): Continental Tr (Interest
i| it f
at option o f co. after March 1 1949.
Alex. Brown & Sons, Baltimore.
4 g M-S 26,450,000 Mar 1 1949
at Alox. Brown & Sons, Baltimore
$3,855,559 $3,550,363 $3,512,261
92,000
S.333
2 4 ’ ' 21
T otal net i n c o m e .. .. $3,781,777
Int. on bonds, rents, & c. $2,347,111
Int. on incom e bds. (4 % )
559,080
Preferred divs. ( 4 % ) —
920
C om m on divs. ( 4 % ) - - 818,448
$3,947,559 |3 .558,696 |3 >f3|'9|2
S2.280.355 ^2.180,248 v ..,lo 8 ,.
559,080
559.080
559.080
920
920
92U
818,448
818,448
8 i 8 '448
$56,218
$288,756
N one
N one <
Surplus for year..........
O F F I C E R S — Pre3. & Chairman o f tho board, ^ ° “ ^s.f V q ^ O
SSw iliH m
J. Pem broke T h om ; V .-P . & Gen. M g r., James R . P ratt, Sec., W i liam
Early; T reas., J. T . Staub; A u d ., N . E . Stubbs.— V . lOo, p . 910, 1105.
1421, 1523; V . 106, p. 819, 1345. 1578, 1679.
(1) B a ltim o re S p a rro w s P oin t & C h e sa p e a k e R y.
O R G A N IZ A T IO N .— In Jan. 1903 was leased fo r 9 99 y ears to the U n.
Rys. & Electric Co. of Baltimore, which g u a ra n ty the bonds below both
as'to principal and Interest, and also owns all of the stock. See V. 79, p.
2643. Has 33.541 m . o f single track, Including a line 22 miles long connecting
Baltimore with the Maryland Steel Works at Sparrows Point, ^“ ^ extend
ing beyond along the shore of Chesapeake Bay, where summer resorts have
been established.
M aturity.
Interest. Outstanding.
Date.
STOCK A N D B O N D S—
$400,000
Stock, $2,000,000
f ir s t m tg0: r w . w . 6o 6 : g o ld ] 1903
i l T s F -A 2,000!000 M
l 1953
(51 000) guaranteed, p rln-(F id elity Trust C o ., B altim ore, Iru -te e .
clpal and niteceet____c* t f (Interest at A lex. Brown & Sons, B altim ore,
R E P O R T .— Operations Included In United R y s . & E lec. V . 80, p . 221
(2) B a ltim o re H a le th o r p e & E lk rld g e R y .
TVYo-r,iar,ri
qtnok
O R G A N IZ A T IO N .— Incorp. on D o c. 26 1905 In M aryland. S tock.
$100 000; outstanding, $10,000. Has m ad ea $300,000 m tg. ( n t p to Fidelity
T ru s tC o . o f Baltim ore, trustee. 20-year 5 % bonds prin. and Int ..p a y able
at Alexander Brown & Sons. B alt.; not guar, b y United R ys. &^EIto. c o .
N one out. Owns 3,051 miles o f road, which is operated by United R ys. &
E lec. C o .— V . 87. p. 543.
_______
THE MARYLAND ELECTRIC RAILWAYS CO.
O R G A N IZ A T IO N .— In 1906 the charter o f the M aryland E lec. R y . was
acqu 1red by Intereota friendly to the United R ys & K ern for the purpose,
among others, o f using that com pany to finance the needs or the United R ys.
& Elec. C o . for additional property, and charter amended
!?tVire. u
lQOfl to ailaDt It to that purpose. In A ug. 1906 was consolidated with the
Baltimore A Annapolis Short L ine, which latter line has
fled. T he M aryland Electric R ys. then acquired car-barn sites, terrnlnats.
&c and Is erecting buildings, constructing extensions, purchasing equip
m ent. & c., which Is leased to the United R y . & E lectric C o - for an annual
rental o f 6 % upon the actual cost o f the property. A t m aturity o f the
its 000 000 b o n is of T ho M aryland E lec. R y s., the United obligates Itself
re p u r e ^ T h e p r o p i t y so leased at a sum sufficient to retire the bonds.
Roe nlan in full In V . 83. D. 150- There la no guaranty endorsed on bonds,
but the terms are such that rental will be m ore than sufficient to pay Inter
e s t . Stock listed on Baltimore Stock Exchange in F eb. 1908.
STOCK A N D BON DS—
Date.
Interest.
Stock. $1,200,000 ( 5 5 0 ) - - - - - - - - - -----H ’ o m ’ non o ^ t 1 1931
First m tge. $8,000,000. gold ! ,1 9 0 6
5 g A -O „ 4
®■ a 9 c t . I/,41
00(?
BaHlmiire'& it^ M p o l ^ C
flwtTAi9 r Dt 5 g F-A D e T,000;6(WaAugT l U19uj
(W
__ a sinkina fund o f 1 H % on M aryland Elec. R y . 1st m tge..oonds
ou t bagan M a r 30 1910. S629.000 (incl. in am ount outstanding) held in
con sink fund Jan. 1 1918. Bonds aro redeem able at 110 and int. on any
f n T d a t e upon 90 d ays’ notice. Int. payable at office o f A lex. Brown &
S° 'D i v i d e n d s fir s t <Uvki00(1 ’(1 H % ) was paid in Jan. 1907 and 2 % was
°
Incomo fdg fronds ( $ m « 0 0 j 1906
5 g J-D
3,920,000 June 1 1930 paid July 1 1907. In 1908. Jan.. 1 % ; July, 1 % ; none since.
* SI 000) $3 920,000. -c t f (Maryland Trust C o., Trusteo.
R O A D .— Operates 25 3 miles o f track from Baltim ore to Annapolis, which
O d d notoa,' *2 J 5 0 .0 0 0 (8 1 - 1916 5 F-A
1.244.000 Feb. 1 1921 has boon converted to electricity. 'Fho co . also owns a good deal or track
0(101 rod all or part, at 10l( Int. at Alox. Brown & Sons, Baltimore.
age which has been built for and leased to the United R ys. & E lec. C o.
& Int on 30 days noticec*tf\Safe Deposit & Tr. C o.. Balt., Trustee.
O F F IC E R S .—
John W ilson B rown; Pres.,
. N.
Conv gold notes. $5.750,000/ 1917 5 & 6 % F-A $4,506,000 Aug 15 1922 qjiannahan- V .-P .Chairman o f b oard, & T reas., Austin M cL anahan,J Gen.
T . O . Cherry; Sec.
(S100 $500, $1,000)____c * (ln t. at Alox. Brown & Sons, Baltimore.
M ^r. (L D . Porter; A ud.,& A sst. T reas., G . S. Storrs.— V . 98, p . 1608.
U N DERLYIN G SECURITIES.
1694,’ 1767; V . 105, p . 1419.
Baltimore Tract— 1st mtgo; [1 8 8 9
5 M -N
1,500,000 N ov ? 1 1929
rn^on 000) Trusteo Mercan Interest at Merchants-Mechanics
First
tlle T r * Deposit C o .c n t fl Nat. Bank, Baltimore.
,
, , n<„
*
BANGOR, ME.
N R Dlv 1st ($1,000) 5 s.g ;{ 1892
5 g J-D
1,750,000 June 1 1942
TrusMerTr&DepCo.cntf (Int. at M orch.-M ech. First Nat. Bk, Balt.
* BANdOR RAILWAY & ELECTRIC CO.
City & Suburban l ly Bonds— ( 1892
5 g J-D
3,000,000 June 1 1922
ORGANIZATION.—Incorp. Feb. 16 1905 in Maine and Is a consolida
istm tge g ($1,000)____t flln t . at Alex. Brown & Sons, Baltimore. tion of the Bangor Orono Sc Old Town Ry., Bangor Hampden & \Vinteristm tge. g » i w
- ‘■ safe Deposit Sc Trust C o., Balt., Trustee.
‘
nort Rv Public Works Co.,
Electric Co., Brewer Water Co.
Lake Roland Elevated— 1st! 1892
5 g M-S
1,000,000 Sopt 11942 wd Penobscot Water & PowerOld TownFeb. 1 1907 purchased the Bangor
Co. On
consol
mortgage,
gold] Interest at Alox. Brown & Sons, Baltimore. k Northern RR. V. 82, p. 333. Owns the entire capital stock of the
($1.000)__________ c*&r tf l Baltimore Trust C o., Trustee.
Bangor Power Co., the Orono Water Co. and (with the exception of one
Central Rg— Consol mortgage ( 1892
5 g M -N
700,000 M ay 1 1932 sharo) of the Bar Harbor & Union River Power Co. Owns and operates
*700 000 gold (Sl.OOO)ntfJInt. at Morch.-Moch. First Nat. Ilk., Balt. tho eloctric railway lines In Bangor and Brewer and t h e Vinos M n n e r t l n g
5/uu.uuu. gom i w .w w m {Mercantile Tr. Sc Dep. Co. o f Balt., Trustee. Bangor with Brewer, Hampden, Old Town, Charleston and inter
Ext and imp 1st mtge.l 1897
5 g M-S
600,000 Mar 1 1932 mediate towns. Also tho entire electric lighting a
.n^. p0A err,!?usl w ^ ™
T
$600 000. g ($1.000) -ntf(Baltim ore Trust C o., Baltimore, Trustee. Bangor, Old Town, Milford. Bradley, East Corinth, O r o n o .
{in t. at Merch.-Moch.First Nat. Bk.. Balt. Hampden, Veazie, Kenduskoag and Orrlngton, with the exception of the
Stock.— The preferred stock roported above as outstanding Is all that municipal lighting in Bangor, and furnishes tho water supply to Veazie.
romalns of tho original Issue of $14,000,000, tho rost having been converted Old Town, Stillwater, Milford and Brewer. In addition to the above the
into incomo bonds. Authorized amount o f common stock was increased company, through its controlled companies, docs the entire electric lighting
from $24,000,000 to S35,000,000 In Sept. 1917 to provide for conversion and power business in Ellsworth, Blue Hill, Bar Harbor. Seal
'
foaturo o f notes o f 1917. Common stock listed on Baltimore and Phila AlsoP furnishes the water supply to Ellsworth and Orono. Population
delphia Stock Exchanges. V. 96, p. 1631; V. 97, p. 667.
served estimated at 65.000 (incl. controlled cos.). , , _ __ ___ . o .
^ B o n d s . — Of tho $38,000,000 of 1st cons<)l. bonds $29,450,000 have been
Franchises.—Franchise for about 8 miles of track in Bangor e^P'res in
issuod (of which $3 ,000,000 are in treasury): *8.550.000 set aside to retire un 1937- franchise covering operation of 2 miles of track in the city of Brewer
derlying securities. $23,000 income mtge. 4s are hold by trustee to retire expires in 1940. All others are perpetual.
tho outstanding prof, stock. Incomo funding bonds are red. on any Int.
STOCK AND BONDS— D a t e
In terest.
AfM u r lttt.
date at par and accrued int. $48,660 aro hold by trustcos. All bonds are Common. $2,000,000 ($100)------- .
Q-F
$2,000,000 May 18.H /»
listed on Balt. Stock Exchango and tho 1st Consol. 4s and $14,000,000
Incomo 4s aro listed on the Phila. Stock Exchange. $8,000 Contral Ry.
w { 1905 5 g J-J
2 :0 0 0 :0 0 0 Ju V l 1935
1st cons. 5s aro in U. Rys. & El. C o.’s treasury.
l («£nn "xi
Trust
In Fob. 191* issued $2,750,000 5% 5-yr. notes to retire the *500,000 Balt. Pub Wks CoOOO) S2'^ 'c * tf(Guaranty R A-O Co.. New York. Trustee.
1st gold.SeOO.-( 1899 5
m 599,000nApril 1 1929
Oatonsrlllo * Kllicott’s Mills 1st M . 5s duo July 1 1916 and the $1,004 J)00
a(ia /erHf) *ci ()(V
)) c*ntf flnt. at Old Colony Trust Co., Boston, Trus.
5% coll. tr. notes due Juno 1 1916, called for payment Mar. 13 1916, and to
r i l l i n RPowCo1stL 1907 6 M-S
Sept 1
nrovldo for certain capital impts. during tho 5 years following. No now n °JT . $2.000.000<$1.000;c* tf\/ Commercial Trust Co. 606.000TY^tee. 1936
ref
Phila..
mtgo. can bo created upon prosent property during life of notes without nQ 11urhor K
P
iftrtpk* T
.tght Col 1901 4H M-N
giving notes equal security with bonds issuod under such new mtgo. V. B 1st M $100,000 ($500) C ntfjlnt. at Portland Nat. luu,UuU iviay i Me.
Portland.
102 p. 523, 610. $1,506,000 had boon exchanged for conv. 5% gold notes n^ngnr Pi,w t Co 1st mtge,t 1911
o
See text
1,319,001) Sept I 1931
duo Aug. 15 1922 as of Jan. 1 1918.
. .
$2 500.000 ($1,000)—
Guaranty Trust Co., N-Y..Tru3tee
C o n v e r tib le N otes. — Convertible at tho option of tho holder into com. stock
4H J-J
at $30 per sharo within one yoar after Aug. 15 1919, at $33 during the next Orono Water Co, first mort-f 1905 Portland (Me.) Nat. Bank. rrninn
gage, $60,000 goki, not (Int. at
Union
voar and at $36 thereafter until Fob. 15 1922. $3,000,000 bearing 6 % int.
subject to call ($500).cntf ( Safo Dep.& Tr. Co.. Portland. Me.. Trus.
wore issuod for now equipment, extensions, &c., stockholders being given
B o n d s .—Tho first consol, bonds aro secured by deposit iof all
shocks
preferential subscription rights; remaining $1,250,000, bearing int. at 5%
for oxchango, par for par, for tho 5% 5-yoar gold notes duo Feb. 1 1921. (except 1 share of prof.) and $386,000 1st & ref. mtge. bonds of the Ba
ace V. 105, P- 820, 910, 1523. $1,506,000 had boon so exchanged up to Harbor & Union River Power Co. They are subject to call on 60 days
Van 1 1918. Redeemable (subject to tho right of conversion) at par and
? ^ e atZ W
int on 30 days’ notice. Safe Deposit & Trust Co., Baltimore, trusteo.
D IV ID E N D S . — Dividends of H of 1% were paid In Juno 1899 and 2 H % .
in Dec 1899. and 2% each six months after that to and including Dec. 1903, Bar Harbor & Union River Power Co. bonds have been 1 e<
f-u
on both the Incomo bonds and tho prof, stock, the payment on the stock 8386 000 are deposited under Bangor Ry. & Elec. 1st cons. M., 4’1
$16,000 are
(but not on the bonds) being subject to a deduction of j i o f 1% for taxos. held in special funds by that company and $606,000 in ha“ ds of tiie pub
None thereafter until Juno 1911, coupons boing funded. On Juno 1 1911 lic. Of the remainder, $100,000 are reserved to retire the Bar.Harbor
paid 2 % on both Income bonds and prof, stock and 2% has been paid each Electric Light bonds and $892,000 for extensions, &c., at 85% of cost or
£ months since. On com. 1st div.— 1 H % — paid May 1912; N ov., 1 H % . S i They are guar ,p. At., by Bangor Ry. & Elec. Co. and are subject to
In 1913 and since, 4% per annum.
8
ELECTRIC RAILW AYS
-
call
& *n*'- on any int. date on 60 clays’ notice. In t. at trustee o
im .
M errill v '-‘H:"*''**“ * T r.•C o ., B angor; ii»u a wJ. & W . ouugman cc vjo., N . Y . Trustee o
, also at .cn . >y Seligman & C o .,
B ar H arbor E lec. Light C o. bonds Is Union Safe D eposit & Trust C o .,
Portland, M e. O f Bangor P ow . C o. 1st M . bonds. $750,000 Series A (all
o u t), bore int. at 4 % to Sopt. 1 1916; boar 4 )4 % to Sept. 1 1921 & 5 % there
after to m aturity. Series B , S I .750.000 auth. (in t., 5 % ). $569,000 issued
Ing, and $1,181,000 reserved for extensions, betterm onts, <&o.,
at 8 5% o f cost o f sam e. In t. payablo at offico o f trustee and at office in
B angor. S ubj. to call at 105 & int. on any Int. date on 60 d a ys’ notice.
N o s. f. B oth series assumed b y B angor R y . & E l. C o.
~
5 % Per annum paid on the old stock (all or one class) from
O ct. 1 1905 to O ct. 1909, when l f $ % (quar.) was paid, which rate was con
tinued to O ct. 1910. In 1911, 7 % . In 1911 stock was Increased and now
pref. stock was created, on which l X % has been paid quar. from Jan. 1912
t0 and incl. A p r. 1918. On common initial d lv. o f V$% was paid M a y 1 1914
and 4$ % has been paid quar. since to and incl. M a y 1918.
R E P O R T .— For years ending D ec. 31:
CalGross
Net (.after Interest,
Pref.D io. Balance,
- n Kear~
Earnings.
Taxes).
A c.
(7 % ).
Surplus.
------------------------------------ $ 886,120 $384,067 $228,442 $105,000 $50,625
1916---------------------------- 829,988
369,111
214,916
105,000
4y,iU 5
49,195
R evenue passongers carried in 1917, 7,001,884; transfer and non-revenue
passengers, 579,426. In 1916, rovenuo pass., 6,480,418; transfer and
non-revenue pass., 709,654.
. R O A D .— Operates 66.46 miles o f singlo-trcak equivalent. R alls, 48
to 90-lb. girder and T standard gauge. 57 pass, and 21 freight cars, 3 gravel
? o rS;-,7.sn0'v7pJ0 'ys ,1 sprinkler and 5 m isc. 3 hydro-electric plants with
i’
l-,2 o O k .w . (o f which 1,525 k.w . can bo operated either b y steam or water)
ca p a city and 1 steam station developing 600 k.w .
O F F IC E R S .— Pros., E . C . R yder: V .-P .. Frank Silliman Jr.; V .-P . &
C on. M g r., E. M . Graham; Clerk & T reas., H oward C om ings; A u d ., C . A .
1160SOn’ Jt> Under m anagem ent o f E . W . Clark & C o .— V. 106, p . 497,
BARRE, VT.
MONTPELIER & BARRE LIGHT & POWER CO.
O R G A N I Z A T I O N .- I n c o m .t o M ass, on N o v . 12 1912 and owns 91%
o f the stock o f the Barro & M ontpelier T rac. & Power C o. A lso owns
all the stock o f the Consolidated Lighting C o .. Vermont Power & L tg. C o .,
M o ily s la lls Elec. L t. & Pow. C o ., and W aterbury Lt. Sc Pow . C o .; also
assets o f C orry-D eavitt-F rost E lec. C o. Supplies electric light, heat and
power in Barro and M ontpelier and in practically all o f W ashington C ounty.
V t. Franchises are perpetual.
Fare Decision .— In N o v . 1914, the Verm ont Supreme C ourt held that the
Barro & M ontpelier T ra c. Sc Pow . C o. is obliged to maintain a fare n o t to
exceed 5 cents within the city limits o f Barro and M ontpelier and give
transfers so long as the franchise Is in force. V. 99, p . 1528.
STOCK A N D BON DS.
Date,
Interest. Outstanding.
M aturity.
Common $1,000,000 ($100 ).................................. $1 ,0 0 0 ,0 0 0
Pref $3,810,000 ($100) cu m _________
6%
'1.337,500 A p r ’ 18114
lst^ ^ u? d»,m„tK0 §2 ,5 0 0,00 0 / 1914 5 g A -O
479,500 O ct. 1 194?
($100 & $ 1 ,0 0 (B ---C * & r * tflln t. at A m or. Trust C o .. B oston, Trustee.
B « T o o ^ ° ^ n I rac l 8 t M K ! r 1897
5 g M -N
100,000 N o v 1 1937
$100,000 ($500 each), n o t /I n t . at American T r . C o ., B oston , trustoe.
subject to c a ll_______ t fc * l
Consolidated Lighting C o ...................’ 5 J-J
700.000 Jan 1 1926
Verm ont Pow er & Ltg C o ____ ______ 5 M -S
400.000 M a r 1 1927
6 M -S
115,000 M a r 11930
C orry-D eavitt-F rost El C o ................
W aterbury Light & Power C o ............
5 M -N 94.000
See text
Stock. $2,473,900 prof, stock Is reserved for conversion o f 1st rof
[Vol . 106.
m it e . A lso owns the entire stock and $300,000 o f tho $600,000 1st M . bonds
or tho Beaum ont .Traction C o ., doing tho entire eiectric railway business in
Beaum ont. V . 96. p. 1629. Light and power franchises in Beaumont
expire in 1963; in P ort A rthur in 1943; railway franchise in B eaum ont oxplres In 1961; Interurban railway alm ost ontiroly on private right-of-w ay.
’ T ho notos duo D ec. 1 1918 were Issued to retire a like am ount o f 3-year
6 % notes due July 1 1916. but called for paym ent Jan. 1 1916. V .lO l.p .1 9 7 2 .
In A pr. 1917 sold $600,000 additional 1st M . coll, trust 5s to provide for
th e p a y m e n t o f floating d eb t, am ounting to $90,000; tho installation o f a
5,300 h. p . turbino at P ort Arthur and the construction o f a 3 3,000-volt
transmission line from P ort A rthur to B eaum ont.
Proposed M erger.— In July 1917 it was voted to consolidate tho various
subsidiary com panies under tho namo o f tho Jefferson C ounty (T ex.) T rac
tion C o .
STOCKS AND BONDS.
Date.
Interest. Outstanding.
M aturity.
J-J
$1,400,000 J an ’ 18, 244
C om m on, $2,000,000 ($100).................
P ref cum $2,000,000 ($ 1 0 0 )..
-----6 J-J
1.400,000 Jan’18, 3 %
1st m ortgage collateral trust/ 1912
5 g M -N
1.423 500 N o v 1 1942
„ gold ($ 50 0 & $l,00 0 )c*& r*tf\ ln t. at State St T r . C o .; Boston trustee
Co^ ? 2 2 n
«°-,^ ^ 1>000'0 00 go ld l 1915
6 g J -D
500,000 D ec. 1 1918
($100.$500 & $ l,0 0 0 )c* _ t f |lnt. at Staoe S t. T r. C o ., B oston, trustee.
Beaumont Traction 1st MV 1903 5 g A -O
274,000 A n r i 1943
$600,000 (call, at 105). . t f / I n t . at I n te s ta te T r. & Bank. C o . Trustee.
Stock. -Pref. stock is callable at 110. $50,000 held in trust for benefit
o f com p a n y (in addition to am ount shown a b o v o ).
Dividends.— 6 % is boing paid on the prof, stock. Initial d iv . on co m .
— 2 % — paid July 1916. In 1917, 5 % ; in 1918, Jan., 2 44 % .
Bonds .— Authorized am ount o f bonds not limited. Additional bonds m ay
bo issued for 75% o f cast o f acquisitions, im pts., a d d ’ns, & c., under certain
restrictions. Callable as a wholo (or In part for sk. fd .) at 105 and int.
Sinking fund 1% yearly o f bonds out, began N o v . 1 1917. $16,500cancelled.
C oupon bonds in denom ination o f $1,000 and $500 and registered bonds o f
55.000 and multiples. V . 95, p. 1745. T ho 3-year coupon notes are redeem
able, aa a w hole, at 100 and int. on 30 d ays’ notice D oc. 31:
E A R N IN G S .— F or 12 m onths ending D o c. 3 1 :
. T «ar—
Gross. N et(aft.tax.) Oth.Inc. Interest.
Skg.Fd.
Surplus.
I 9 } 7 ............-$938,074 $421,082 $19,818 $122,081 $15,039 $303,780
1916............... 826,313
381,891
---------105,965
1,733 274,193
P R O P E R T Y A N D P L A N T S .— C om bined capacity o f powor stations
at Boaum ont and Port Arthur, 9,100 k .w .; power is also supplied to P ort
A rthur T ra c. C o . C apacity o f ice plant at Port A rthur, 75 tons por da y.
Miles o f equivalent single track, 29.79; trackage, 2.0 4 , standard gauge:
3 -) pass, and 4 other cars. T ho 20-m ilo electric railway between B oaum ont
and P ort A rthur was form ally opened on D ec. 15 1913. V. 97, p. 1822.
O F F IC E R S .— Pres., Marshall M . Phinney; S ec., Hollis T . Gleason;
Treas., II . B . Sawyer; G en. M grs., Stono & W ebster M g t. Assn.; M g r.
A . F. Tow nsend.— V. 97. p. 49. 1822: V. 101, p . 1972; V. 102 o 251
1 8 1 i, 2254; V. 104, p. 1591; V. 106, p . 3 95, 821.
’ P
’
BENTON HARBOR, MICH.
BENTON HARBOR-ST. JOE RAILWAY & LIGHT CO.
O R G A N lZ A T iO N .— incorporated in M ichigan in Jan. 1906 and Is a con
solidation o f the Benton H arbor & St. Josoph E lectric R y . & Light C o .
and the S t. Joseph R iver T raction C o .
STOCK AND BONDS.
Date.
Interest. Outstanding. M aturity.
C om m on ($100)..............................................................
$800,000 _
Preferred, $400,000 ( $ 1 0 0 ) - - . --------6
P-A
400.000
SeeText
Rt l mW
S
’000 8old , 19()9 5 g M -N
489,500 N o v 1 1939
($500 and $t,0OO)------------c Interest at Colum bia T r. C o ., Loulsv..trust.
ls t cons M . S . ,000.000, gold■ 1 9 0 6
I
„
•
5 g M -N
825,000 N o v 119 3 5
mortgage bonds. Tax-free in Massachusetts.
($500 and $1,000)_______ c
Bonds.-—' he above bonds o f light and power com panies are assumed B H & S J E l R y & L 1st M , Int. at C olum bia T r . C o ., L ou lsv., trustoe.
T
1900 5 g M -S
130,000 Sept 1 1920
b y the M on tpelier & Barre Light & Power C o. $250,000 o f the 1st ref.
$200,000. gold ($ 1 .0 0 0 )-.- In t. at A m . T r. & S av. B ank. C h ic., trustee.
bonds becam e con vertible at holders’ option into pref. stock at par on M a r. 1
Bonds.— O f tho $1,000,000 1st consolidated bonds, $130,000 aro re'
1916. A s o f M a y 8 1918 $27,600 had boon so converted. $257,000 addi
to
prior
T hey are
to
on any”int. day \it
tional bonds will becom e convertible into p rof, stock at par on M a r. 1 1921. served T heretire o f the lions. . after 1910 subject sk. call o f $10,000 per ann.
105.
bds.
old co
fd .
R ed . as a whole at 105 and int. on any int. date on 4 weeks’ notice. $1,149 - but bonds cannot be called. See V. 71. phave a V . 72, p . 282. O f the ref.
. 1268;
° 2 9 . * i nds al]e ,roserved to rotiro underlying bonds and $844,000 for bonds, $1,000,000 are reserved for prior liens.
additions and Im provem ents at 7 5% o f cost.
$185,000 C onsol.
Dividends.— P ref. d lvs. at rate o f 6 % per annum are being paid.
L tg. C o. bonds and $84,000 Verm ont Power Sc L tg. C o. bonds aro hold In
E A R N IN G S .— F or years ending June 30:
sinking funds (incl. in amts, reported outstand.). T h o W aterbury L t. &
June Z0
Oper.
N et (after Other
Interest, P f.D ivs. Balance.
£ • .9 ° ; bonds m aturo $6,000 yearly to N o v . 1 1921; thon $7,000 yearly to
J
Revenues.
Taxes). Incom e. Rents,&c,
N o v . 1 1931. T ho Barro & M ontpelier T ra c. 1st M . 5s originally fell duo . r.Y™ r (6 % ).
Surplus.
$468 S91.039
1916-17................$486,051 S132.833
N o v . 1 1917 but wero extended for 20 years.
$24,000 $18,262
24,000
6,059
19i>ri*6r5---- r\~~~ »2 2 ’.°/?or*
*890
7,083
79,914
24.UUU
Dividends.— A d lv . o f $2 50 was paid on the p ref. stock A p r. 1 1913
R O A D .— Operates 10.36 mllos o f singlo track in St. Josoph and Benton
5 m onths from date o f organization on N o v . 12 1912 to A pril 12
1913; SI 50 paid July 15 1913 and $1 50 quar. since to and Incl. April 1918. Harbor with extensions o f 25 mllos through E au Claire to Dow agiac and
11.33 miles to W atervliot: also operates 4.73 miles second track, 5 .7 mllos
E A R N IN G S .— For fiscal years ending Juno 30:
sidings, & c., and 3 miles o f leased line, making total miloago operated, 60.12
Yrs.— Gross Earns.
Tot. Net In c.
Int. A Rents. Bal. for Div.
6Q 7,9, and 73-Ib. girder and T rails. 44 passenger and 34 other cars.
.1
1916—
17----------------- $387,o58
$212,771
S100.834
S i l l 036
O F F IC E R S .— Pres., C . K . M inary. Benton H arbor, M ich .; V .-P ., Hen
1 915-16-------- --------- 377,237
211,376
100,658
110J18 ning Chambers, Louisville, K y .; S ec., L . W . B otts, Louisville.— V.82,p.333.
P R O P E R T Y .— Power plants have an aggregate capacity o f about 14,775
h .p ., and 4,000 h .p . in addition is availablo b y contract; 11,450 h .p . is
BIDDEFORD, ME.
water pow er. T ho steam plants, under normal conditions, are heldlargoly
BIDDEFORD & SACO R R .— A trolley road.
as a res or vo ;1 ,30 m iles o f transmission lines; undeveloped water power o f
a bou t 4,000 h .p . ca p a city .
T ho Barre & M ontpelier T ra c. Sc Power C o.
O R G A N IZ A T IO N .— Incorporated F eb. 19 1887.
owns 9.75 m iles o f track between Barre and M ontpelier. 68-lb. T rail
BONDS
Date.
Interest. Outstanding. M aturity.
Gauge 4 ft. 844 in.
A-O
$100,000 A p r ’ 18 5 %
Stock ($50) S100.000...........................
io P f r Fir>°E.R
£ h •o f B d ; o f Directors, C . II. Tenney:*Pres , II. F . Sands* l 8L r rt* *ri00’0,°2 JSLOOOH 1900
i g J -D
150.000 June 1 1 9 4 0
^ • - P ; ’ A - % Tenney; Clerk, II. P. W oods; Treas., E . A . Bradley; A sst!
g0..d i : . ’
f but can b «iIn terest at Fidelity Trust C o ., Portland.
called In 1920.....................tf ( M e ., trustee.
ir T a n n ir 8! Hall; A ud ., H . A . Gidney. Under management o f Charles
II. Tenney & C o ., B oston.— V . 104, p . 2015; V . 105, p . 1999.
g , f > ? ^ rfs’“ ,]C urlng years end. June 30: 1906, 4 % ; 1907-09, 5 % : 1910,
i
i
7 H % (changed t o s .-a .): 1911 and 1912. 5 % : 1913 and 1914, 6 % ; 1915, 8 % :
1916; 10% and special d iv. o f 2 0% on A ug. 1 1916. In 1917, 10% . In
BATON ROUGE, LA.
iy io » A pril, o % .
BATON ROUQE ELECTRIC CO.
E A R N IN G S .— F or calendar year 1917 and years ending Juno 30:
' ~ I2 S, ; -r
S
In t., A c .
Dividends.
Surplus.
R A T I O N , & c.— Organized In Louisiana; does entire electric i „ L w r
‘$24,661
$8,446
$10,000
$6,215
railway, electric-lighting, power and gas business in Baton R ouge. Rail- }9 } 7 ......................... 585,417
.................... 74.584
20.162
7,849
10.000
2,313
^ f r a n c h i s e expires 1940; gas 1942, electric-lighting and power, 1988.
1914-15 .................... 72,222
20,037
8,116
8,000
3,921
STOCK A N D BON DS.
Date.
Interest. Outstanding.
Maturity. O r c h a r d ° B e ^ erateS 8 mI168 ° f track between Saco. B iddeford and Old
lnn0 is?nA^««*0 )................
- -I)
$300,000 D occ *17 .4 %
x*rer, 5250,000 (5100) 6 % „ ------------J- - - - - - 200.000 D e ’ 1 7 3 %
O F F IC E R S ;— President. O . H . P rescott, B iddeford; Secretary and
l3fcfor?n^tgag1 ^ 5 2 * 000» * o ia l 1909
ei
5 F -A
505.500 Fob 1 1939 Treasurer. E . F . L ord .— V . 70. p . 1048: V . 73, p. 494.
($600 and $ 1 ,0 0 0 ).. c * t f lin t , a t Old C olon y Trust C o .. Boston .trustee
nnmS' ?3 0 0 ’000’ i ^
« A'0 ,
^ 0 ,0 0 0 Jan 1 1920
BINGHAMTON, N. Y.
($o00 & 51,0 00 )----------------- / In t. at Old C olon y T r. C o ., H ost., trustee.
S C R A N T O N & B IN G H A M T O N R Y .
S
r D n n n P™f -,,s cum ulative from June 1912. Redeem able at 110.
w
Bonds. $7.000 bonds, not in cl. in am ount outstanding, are In treasury o f o O R G A m Z A T I O N .- I n c o r p . in Dolaware O ct. 15 1910. Owns entire
com pany: remaining bonds m ay bo issued at not to exceed 8 0% o f cost o f st
°o th0 Scranton & Bingham ton RR. and has assumed Its bonds.
rh o Scranton& Bingham ton RR. owns 99% o f tho stock o f the Bingham
r.fn/ni0IiS ?i?d im provem ents. M a y be called, in whole (or In part for sink,
fund) at 10o and int. on any int. d a y. Sinking fund o f 1 % per anil of ton R y ., the entire stock o f Scranton & Binghamton T raction C o ., a con
bom** out began Feb. 1 1914. $19,500 canceled. T he 2-year notes a?e trolling Interest In theNort&ern Electric R y . and over one-half o f the bonds
callable as a wholo at par and int. on 30 d a ys’ notice.
o f the Northern E lectric Street R y . (whoso stock Is owned by tho Northern
p rof" 3 % s.-ch. from D ec. 1911 to and incl. D o c . 1917. Electric R y .). T he Northern E lectric Street R y . is.leased for 900 years
from July 1 1910 to the Scranton & Bingham ton T raction C o ., which has
In *1917* 8 7 2 % ° n C° m ‘ pa d D e c ’ 1915‘ In Juno 1916, 3 % : D ec .. 4 % . assumed the form er s bonded d eb t.
E A R N IN G S .— F or 12 months ending D ec. 31:
io i7 ~
« o £ r°nir Nei\afLerZ axes- Interest. Sink. Fund Surplus.
.
1917------------------- 8231.965
$112,551
$37,676
$5,060
$69,815
1J16------------------- 211,694
110,830
36,846
5,157
68,833
R O A D .— Operates 6.23 mllos or track In form o f a singlo belt through
B aton R ouge, 9 cars; standard gauge. Power station cap acity, 1.500 k.w .
O F F IC E R S .— Pres., H arry H . H unt; V .-P ., E dw . G odchaux: Sec
* r V? h .K . T od d : T reas., Henry B . Sawyer; Gon. M g rs., Stone & W ebster
M g t. A ssn.; M g r., I . M axw ell S tover.— V . 101, p. 1S06; V . 104, p. 1488.
BEAUMONT, TEX.
EASTERN TEXAS ELECTRIC CO.
. - . 9 K p ‘^ N I ?A.TIJ?N ~ In corp. In M aine In D ec. 1911 and owns the stocks
J.n o P ° ndr*0^ *be Beaum ont E lectric Light & Power C o ., Port A rthur Light
P| A rtbur Ice & Refrigerating C o ., which d o tho entire
0rt
electric-lighting and power business in Beaum ont and P ort Arthur and the
ng ? ndr.refrl.gerat,ng business in tho latter city , and also o f
urhanf/ w t H ^ a n nty Traction C o ., which In D ec. 1913 coraplotod an inter
urban electric railway between Beaum ont and Port A rthur, a distance of 20
D ate‘
Interest-
Outstanding.
M aturity.
Scr0 ? ;
S10.000.000V 1910
6 J -D "
2.000!000 Ju'neT ioO O
g ( S l .000. $500 & $ 1 0 0 )-.c * /I n t . at Anthracite S. B k ., W ilkos-Barre, trus.
N o rth e m tile c St R y $1,200.-1 1907
5 J-D
1.200.000 Juno l 1957
«9 9 ^'^j 9 a and SI •609)--C* JInt. at A n th ra cite s. B k ., W llkos-Barro.trus.
cra_
n^°p & Binghamton R R . bonds aro callablo since Juno i
1915 at lOo and int. Northern E lec. St. R y . bonds are rod. at 105 and Int.
Sinking fund o f $10,000 per annum began D ec. 1 1912.
E A R N I N G S .- O f t h e com binod properties for 12 raos. ending June 30
$348 116OSS’ 3 ^’®99.614; not, $374,717. In 1916, gross, $886,742; not,
P ’T 4, “ JS?8 ',n operation botween Scranton and M ontroso, with a
6
ton N *£■ — V 5 Joon0pa ’ i 8 3 3 ° road 113 Projected will oxtend to BinghamW B in g h a m to n R a ilw a y C o .— A trolloy road.
T ho Scranton & Binghamton RR. owns 9 9% o f tho stock.
r r *n iA £ h » £ T ,I l NA ^
i
-—
consolidation Sept. 30 1901 o f tho Bingham ton
R R . C o . (chartered A ug. 11 1892 as a consolidation o f all streot railways in
Lef^terehlre & Union R R . Principal franchises grantod
by special A cts or Legislature, and are perpetual and practically exclusive.
Ma y , 1918.1
ELECTRIC RAILW AYS
STOCK A N D BONDS—
Date.
Interest.
Outstanding. M aturity.
S tock, $1,150,000 ($100)------------4
F-A
$978,995
See text
Bingham ton B it C o m tg e/
1893 5 g J-J
502,000
See text
$900,000, g ($ l,0 0 0 ) - .c * t f l i n t , at M etrop ol. T r. C o ., N . Y . , Trustee.
B ing Lest & Un 1st M $250,- ( 1895 5 g J-D
147.000 June 1 1925
000 gold, principal andj Interest at M etropolitan T ru st, N ew Y ork
Interest g u a r___________ t f ( Bingham ton Trust C o ., Trustee.
Bing B y 1st consol m tge, $ 2,-)
1901 5 g M -N
1,684,000 N o v 1 1931
500.000 gold ($1,000) c * t f t in t . a t Fidelity T rust C o ., B uffalo, Trustee.
( or Seaboard N ational B ank. N ow York.
E qu ip trust cortif ($ 9 0 ,0 0 0 ).. 1915
6 F -A
72.000
See text
Bonds.— The bonds o f 1893 mature $5,000 yearly 1910 to 1917; 310.000
yearly from Sept. 1 1918 to 1922 and balance Sept. 1 1923. O f the Bing
ham ton B y . 1st consol, m tg e., enough aro reserved to retire underlying
bonds and the remainder for acquisitions, extons., & c., under careful
restrictions. T h ey are subject to call at 110 and int. E xem pt from N . Y .
State, cou nty and m unicipal personal property taxes. See v . 73, p. 13i2;
V . 78, p. 701; V. 88, p. 748. The equipm ent trust certificates o f 1915
m ature $5,000 semi-annually. T h ey aro secured b y 20 doublo-truck cars,
costing $118,503.
Dividends.— 2 % was paid Jan. 31 1902; 2 % M a r. 3 1903; 2 % April 11
1904 and 2% April 10 1905. A scrip dividend o f 20% was paid April 18
1905. In 1906 to 1910 incl., 2 )4 % yearly. In 1911, S ept., 3 % . In 1912
and 1913, 4 % . In 1914, Feb . 2 % . N one since.
R O A D .— Operates 49.25 miles o f track. C onnects Bingham ton with
Johnson C ity , H ooper, E n d icott, Union and P ort D ickinson. Standard
gauge, 60-lb. to 103-lb. T and girder rial; 75 m otor cars and 27 trail cars
K A B N IN G S .— For year ending D ec. 31:
Year—
Gross.
N et.
Int. & Taxes.
Surplus.
1 9 1 7 ..
- ...........................$705,030
$242,925
$160,953
$81,972
1 9 1 6 .. . ...................
651,527
244,872
142,337
102,535
1915---------546,300
210,020
130,261
79,759
O F F IC E B S .— Pres., F. L . Fuller: V .-P .. B . W . D a v : V .-p . & G en. M g r.
C . S. Banghart; Sec., IV. II. H ecox: Treas., E . M . W hite. O frice, B ing
ham ton, N . Y\— V. 99, p. 269; V . 100, p. 980; V . 106, p . 2122.
BIRMINGHAM, ALA.
13IRMINQHAM R Y. LIGH T & POWER.
Controlled b y the American Cities C o. (see under “ N ew Orleans” ) which
owns 89.62% o f the com m on and 79.35% o f the preferred stock.
’
O R G A N IZ A T IO N .— Consolidation on June 13 1901 o f the Birmingham
Gas C o ., the Consolidated Electric Light C o. and the Birmingham B y .
Light & Power C o. Owns and operates the entire street railw ay, gas!
electric-light and power and steam heat business o f Birm ingham and all the
principal near-by citios and towns, including Brighton, Bessemer, Boyles an
Irondalo; an imertirban lino about 12 miles o f which is in operation, from
East Lake to Ensley and Pratt C ity; does the city lighting in Birmingham
Bessemer and Brighton. Franchises covering gas, electric-light and power
business and street railway lines aro, w ith some unim portant exceptions,
stated to bo perpetual. Has a con tract with the A labam a Power C o . by
which the latter furnishes electricity for operating the railways and also for
light and power servlco In Birm ingham . Under this con tract the com p a n y’s
steam station Is held as a reserve plant. V . 98, p . 1691.
In April 1917 acquired the stock o f the BIrm ingham -TIdowater B y . In
consideration o f the guaranty o f that com p a n y's bond issuo, principal and
Interest. V. 104, p. 1590.
STOCK A N D BONDS—
Date.
Interest. Outstanding.
Maturity.
Com m on w ,i> w ,w v -. — ~ ----------- ($100), $3,900,000..............
J-D
$3,900,000
See text.
Pref(SlOO), $3,500,000 6 % c u m -----J-D
3,500,000 D ec 17, 3 %
Birmingham B y < El 1st M g f 1894
&
5 g J-J
849,000 July 2 1924
$1,250,000 ($1.000)____ c* Int. at Central T rust C o ., N . Y . BirmingNot subject to call.
ham T r. & Sav. C o .. Birm ingham . T ru s.
Gen M . ref, $10,000,000, 1904
4)4 g A -O 8,720,000 April 1 1954
gold ($1,000).....................c* {I n t . at Comm ercial-Germ ania T r. <c S av .B k .,
s
N ew O rl., T ru s., or at N .Y . T r . C o ., N .Y .
B e f & exten M $25,000.0001 1907
6 g M -N
4,734,000 M a y 1 1957
($1,000) gold sink. fu n d .c*{In terest at Old C olon y Trust C o ., Boston,
Not subject to call.
I Trustee, and N . Y . agency o f com pany.
N otes $2,000,000 ( $ l,0 0 0 ) ..c * 1917
6 A -O
1.312,000 A p r 1 1919
Bonds.— O f the new $25,000,000 bonds, $9,580,000 are reserved for prior
Hens. $1,200,000 for the cost o f now power house if first lien on same, and
$9,485,000 for 8 0% o f the cost o f additions If the not earnings aro 114
times the Int. on all bonds outstanding, incl. those to be Issued, and provided
10% o f gross earnings have been expended for m aintenance within previous
12 m onths. T he directors m ay make the rate o f Int. on succeeding install
ments not to exceed 6 % . Sinking fund o f K o f 1% o f bonds out commences
Sept. 1 1918. Bonds purchased to bo held alive and Int. thereon re-invested.
For details o f bonds, property, & c.. see V . 87, p. 1603. O f the goh. M . o f
1904, no more bonds can be issued. Sinking fund o f K o f 1 % o f bonds out
begins A ug. 1 1924. The bonds are sub. to call at 105 & int. on any Int.
day on 60 days’ notice.
For 1st 5s o f 1894 $12,500 per ann. Is pay: Into
a sinking fund; $401,000 havo been canceled. T he 2-year notes aro red. at
1 0 0 '2 and int. on 30 days’ notice. Interest payablo in N ow York. R e
m aining notes aro reserved for oxts., im provem ents, &c. V. 104, p. 1144.
Dividends.— First d lv . on pref. stock, o f 3 % , paid In Jan. 1902, and 3 %
s.-a . thereafter to and Incl. D ec. 1914: In Juno 1915, nono; D o c ., 3 % . In
June 1916, 3 % and 1% on acct. o f arrears: D e c ., 3 % ; June 1917, 3 % and
1% on account o f arrears; D ec., 3 % . On com . stock in 1903, 3 % ; in 1904
4%1 in 1905, 4 % ; in 1906, 5 % ; in 1907 and 1908, none; 1909, 2 % ; 1910’
5 % ; 1911, 7 % ; 1912, 8 % ; 1913 and 1914, 6 % : none since.
R E P O R T .—
Gross
Year—
Earns.
J 9 1 7 --.........................$3,655,894
1910------------------------ 3,404,104
N et after
Taxes.
$1,300,441
1,191,770
Interest and
Surp.,for
Oth. deductions, renew..etc.
$830,088
$476,353
811,412
380,358
R O A D .— Operatos over 150.81 m. o f single track In cities o f Birmingham
Bossemer and in Jefferson C ounty. It is reported that the co . will build
a lino connecting Vinesvillo and Fairfield. Standard gauge. All but 20
miles 70 to 100-lb. T girder rails. Owns 250 passonger, 58 freight and 25
miscellaneous cars. T otal, 333.
O F F IC E R S .— Pres. & Q on. M g r., J. S. Povear, B irm ingham : V .-P ., Lee
C . Bradley: Sec. St T reas., J. P. Ross; A sst. Sec. & A sst. T rea s.. N II
H a w k in s— V. 104, p. 802, 1144. 1488; 1590, 1700; V . 106, p. 818.
B ir m in g h a m -T id e w a tcr R a ilw a y C o.
O R G A N IZ A T IO N .— A reorganization In 1917 o f tho Birmingham Ensley
& R essgper R B - as per plan N o. 1 In V. 101, p. 1013. T he com p a n y’s
$325,000 stock was transferred to tho Birmingham R y ., L t. & Pow er C o . in
consideration or the latter’s guaranty o f the payinont o f prin. and Int. o f
this com pany s bonds.
BONDS—
Date.
Interest. Outstanding.
Maturity.
M f t 000 « oId ) 1916
5 g J-J
$1,500,000 Jan 1 1946
($500 and $ 1 , 0 0 0 ) -------- c * /I n t . at E m pire Trust C o ., N . Y ., trusteo.
V 1? b? n(! s are red. on any Int. dato at 101 and Int. T h ey aro guar.,
,
p . & 1., b y tho B lrm . I i y ., L t. & Power C o. V . 104, p . 1700.
„ R O A D .— Owns and operates 19.162 miles o f 1st main track, 12.145 miles
2d main track, 0.805 miles sidings, & c., 0.676 miles m lsc.; total, 32.788
miles. 85-lb. steel rails; standard gauge. Has 25 P -A -Y -E steel coaches.
26 dum p cars 3 flat cars, 8 raise, cars, 1 Baldwin locom otive and 1 ten-ton
crane. V. 104, p . 1700.
BLUFFTON, IND.
M A R IO N & B L U F F T O N T R A C T IO N C O .— A trolley road.
O R G A N IZ A T IO N .— Incorp. In Indiana June 1914 as a reorganization
o f tho old M arlon B luffton & Eastern T ra c. C o ., sold under foreclosure In
F eb. 1914. T he old com i)any was placed In receivership as a result o f
n head-on collision on July 7 1912 In which four persons wore killed and 60
or m ore Injurod (V . 95, p . 297).
Fares.— In Feb. 1918 applied to tho Indiana P. S. C om m , for auth.
toliucroaso fares from 2 cents per mile to 2 A cents por m ile. A uth. to
discount round-trip faros to tho extent o f 5 % o f the total chargo both ways
was also requested. Under tho now schedulo tho chargo for com m utation
books would bo 2 cents per mile.
9
STOCK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
Stock $216,000 ($100)...............................................
$216,000 ....................
1st M gold $504,000 ($ 1 ,0 0 0 )/ 1914
5 g J-J
504.000 July 1 1934
S in k .fd . 1% per annum. (In t. at Fletcher Sav.& T r. C o ., In d ia n a p .,T r.
E A R N IN G S .— F or cal. year 1915, gross, $111,254; net, $35,304.
R O A D .— Operates 32 miles o f track between M a rlon , where con nection
Is m ade with Union T ra c. C o . o f Indiana lines and Ind. R ys. & L igh t C o .,
and B luffton, In d ., connecting there with F ort W ayne & N orthern Indiana
T rac. and Union T ra c. C o . o f Indiana. Standard gauge. 70-Ib. T rail.
O F F IC E R S .— P res., James W . Sale; V .-P ., A bram Sim m on; Sec. & A ct
ing Gen. M g r., James S. Clark: T reas., J. S. G illiland.— V. 99, p. 196.
B L U F F T O N G E N E V A & C E L IN A T R A C T IO N
consisting o f 19 mdes o f track on private right o f way
and Geneva through Vera Cruz and Linn G rove, was
sale on O ct. 13 1917 to T hos. Fiinn for $118,000. A t
dismantling o f the line was under way.
CO — This road,
between Bluffton
sold at receiver’ s
last accounts the
BOISE CITY, IDAHO.
BOISE VALLEY TR AC TIO N CO.
C ontrolled through stock ownership b y the Id aho Pow er C o . (V . 104, p.
1148), all o f whose com m on stock except directors’ shares is in turn owned b y
tho N ational Securities C orp . (V . 100. p. 1673, 2010). T he T ra c. C o . owns
in fee all the railway property o f tho old Idaho R y ., L t. & Power C o . except
the Boise R R . C o ., L td . (now the B oise R y ., V . 105, p. 715). There
remains outstanding against the property the follow ing issuo o f bonds:
BONDS—
D ate.
Interest. Outstanding.
M aturity.
Boise & In t 1st M $5,000,0001 1906
5 g A -O
$1,020,000
1946
g ($ l,0 0 0 )s f& sub to ca ll.c& r/In t. at C olonial Trust C o ., P ittsb ., Trustee.
R O A D .— 69 miles single track equivalent o f interurban lines and 11 miles
o f city lines; tota l, 80 m iles.
BOSTON, MASS.
BOSTON ELEVATED R A ILW A Y .
O R G A N IZ A T IO N .— Charter granted In 1897 provides fdr an extensive
system o f free transfers.
On April 29 1903 leased from the Old C olon y Street R y . (now merged in
the B ay State St. R y .) all that com pany's tracks in the city o f B oston,
amounting to 23.753 miles. T he lease Is for 99 years and provides that
besides paying taxes the Elevated C o . will pay 6 )4 % o f replacem ent value
(appraised at $353,979, less the rental o f certain short pieces o f track
appraised at $13,866) o f the property leased as o f date F eb. 16 1903, and
4 % on th cost o f all additions and betterm ents.
Lease o f West End.— T he W est End Street R y . Is leased until June 10 1922.
Consolidation with West End Street Ry.— In July 1911 Massachusetts
Legislature passed an A ct (signed b y the G overnor on July 21 1911) super
seding that approved M a y 28 1908 (V . 86, p . 917, 1342), perm itting the
consolidation o f B oston E lev. and W est End St. R y . at the expiration o f
tho present lease, on June 10 1922. 8 % cu m . 1st pref. stock o f B ost. E lev.
(having the ordinary voting powers, but n ot “ entitled to participate in any
Increase or issue o f new stock , com . or p ref.” ) . to be Issued, $ for $. for W est
End pref. and 7 % cum . (or 8 % If arbitrators so decide) 2d pref. (having
all voting powers without exception) for com . stock o f W est E n d . A fter
the Issue or the new pref. shares no other stock to be issued "p rior or equal
to such 1st pref. and 2d pref. stock without the consent o f two-thirds o f the
holders o f such stocks, respectively.” T h e A ct also provided that the Street
R y . forthw ith sell to the E levated C o . all unused real estate, the proceeds
not exceeding $1,500,000 to be Invested as a special trust fun dan d to accum
ulate until June 10 1922. Thereafter the annual incom e thereof shall be
applied to cancellation o f 2d pref. stock. W hen all the 2d pref. has been
retired then said fund shall be applied b y the E levated R y . C o . to any
purpose for which stock and bonds can legally be issued. See terms o f A ct
In V . 93, p . 344. Shareholders o f both the B oston E lev. and W est E nd St.
R y . approved the A ct; the form er on A ug. 24 1911 and the latter on S ept. 6
1911. V . 93, p . 666. H olders o f W est End com . and prof, stock m ay on
or before June 10 1922 exchange their stock a t par for Elevated R y . com m on .
A fter June 10 1922 holders o f B ost. E lev. 1st or 2d p ref. m ay exchange
their stock for an equal am ount at par o f B ost. E lev . com m on.
On S ept. 5 1911, In a suit brought to test the constitutionality o f the
M erger A ct, Judge C olt In U . S. D istrict C ourt sustained the dem urrer o f
the W est End St. R y . and dismissed the suit to prevent the merger. V . 95.
p. 618- N ew suit brought b y a W est End shareholder in France on D ec. 31
1913 (V . 98. p . 74) also dismissed.
Subways.— in D ec. 1896 the W est End Street R y . leased the right to use
the Trom ont St. subway In B oston. See terms under W est End Street R y .
On D ec. 24 1904 the East Boston tunnel (under Boston H arbor) was
leasod b y the Boston Elevated R y . until June 10 1922 for a rental o f % o f 1 %
o f earnings o f all lines ow ned, leased or operated. T he com pany also co l
lected a toll o f l c . per person, which went to tho city , but tolls were a bol
ished F ob. 8 1916 b y an A ct permitting the city to assume them each year
b y act o f the C ity Council appropriating sum sufficient to cover int. and
skg. fd . requirements for the year. T he tunnel was opened D ec. 30 1904.
It extends from the main land to East B oston , 1.4 m iles, and cost $3.500,000.
On June 28 1902 W ashington Street Subway Dill became a law. T he city
constructed a tunnel for elevated trains and leased same to the B oston
Elevated R y . for 25 years at an annual rental o f 4 A % o f total cost o f co n
struction, which was $7,901,700 net. V. 88, p. 98. Proposition was ratified
by voters at D ec. 1902 election. V . 75, p . 28, 496, 1315; V . 77, p. 2097:
V . 82, p. 217. T he W ashington Street tunnel began operation N o v . 30
1908. V . 87, p . 1477.
In June 1906 the M ass. Legislature passed a law perm itting the Boston
E lev. to construct tw o subways In Cam bridge, and to issue stock or bonds to
meet the cost. A t the end o f 20 years the city o f Cam bridge is to have the
right to purchase these subways by paying their cost plus 7% in t., less d iv i
dends. V . 83, p . 93. On Jan. 4 1912 the first through train was run in the
now subway; It was opened for public travel M a r. 23 1912. V. 94. d . 1185.
New Construction o f Subways and Old Contracts Extended.— In July 1911
M ass. Legislature passed an A ct (accepted b y the city and Boston E lev.
In Sept. 1911) providing for the construction b y the city o f three additional
subways, v iz ., Dorchester Tunnel, B oylston S t. Subway and East Boston
Tunnel extensions, and the extension o f all existing contracts until July 1
1936, tho dato to which contracts for now lines are to run. Annual rental
after expiration o f old contracts to be as follows; Trem ont St. Subway
(see under W est E n d ), 4 )4 % on net cost; East B oston tunnel (now expiring
Juno 10 1922), 4 )4 % on net cost (provision for tolls from passengers using
the tunnel eliminated for extension period); W ashington St. tunnel (now
expiring N o v . 30 1933). 4 )4 % on net cost. Annual rental for new lines:
Cam bridge connection, for first 20 years, 4 )4 % on net cost; thereafter 4 )4 %
on net cost; Dorchester and B oylston tunnels and East B oston tunnel ex
tension, 4 )4 % on net cost. T h e A ct also provides that all contracts are to
continue after July 1 1936 until terminated b y a two-years' notice b y either
p arty. T h e various new leases and extensions o f old leases were signed by
the parties thereto on D ec. 7 1911. V. 93. p. 1785.
T ho new B oylston St. rapid transit subway on which work was begun
M ar. 8 1912, was opened for traffic O ct. 3 1914 from the Trem ont St. sub
way, near Charles S t., and the Public Gardens, westward toward B rook
line, 1 J4 miles. T he subway cost the city about $4,500,000 (V . 99, p .1213).
T he extension o f the East Boston Tunnel, on which construction was begun
N ov. 29 1912, was opened M arch 18 1916. perm itting an 18-mlnute schedule
from Central Square, Cam bridge, to M averick Square, East B oston. Esti
mated expenditure on this project. $2,400,000. V . 102, p . 1058. C onstruc
tion o f the Dorchester Tunnel, which Is to be an extension o f the Cam bridge
subway, was begun on M a y 30 1912. T ho operation o f cars to the Broad
way Station in South Boston was begun on D ec. 15 1917 and it is expected
that the com pleted tube will be in operation before tho end o f 1918. On
April 4 1915 trains began operating to W ashington Station, last east o f the
Summer and W inter stations o f tho W ashington Street Tunnel, and on
D ec. 3 1916 to South Station U nder, at D ew ey Sq. and South Term inal
R It. station. C ost o f thjs tunnel without equipm ent Is estimated at up
wards o f $9,800,000.
Everett Elevated Extension.— T ho E verett elevated extension and bridge
in connection therowitli in April 1918 were expected to bo com pleted within
a year.
Damages by N oise.— In A ug. 1902 Judge M ason. In the Superior C ourt
at B oston, held that the com pany Is liable for damages from noise caused
b y the operation o f trains. V . 75. p. 496. This was affirm ed April 1903
o y Massachusetts Supreme C ourt. V . 76. p. 809.
ELECTRIC RAILWAYS
10
Wage Increases.— For wage increaso effective M a y 1 1916, seo V . 103,
p. 320. On Feb. 28 1918 increased carm en’s wages 2 cents per hour,
follow ing threat o f a strike. V . 106, p . 1569.
Partial Relief Granted.— T he co . having issued bonds in am ount equalling
tho par value o f its capital stock plus paid in premiums (526,586,828) .u nder
M ass, law no now bonds cou ld bo issued until additional stock had boon
put out. (Up to M a y 1918 the com pany had done addition and im prove
m ent work costing about 83,000,000 in excess o f stock and bonds author
ized.) N ew stock, how ever, cannot bo issued below par and the stock has
for some timo been ruling considerably below par in the market. In ordor
to re-establish its credit, thereforo, the co . asked for permission to increase
fares from 5 to 6 cents. Following G ov. M cC a ll’s message o f M a y 23
1916 to tho Legislature (V . 102, p. 2076), a special recess com m ittee was
appointed to report on tho advisability o f the State’s taking action to
enable the co . to obtain net rovenue adequate for its corporate purposes.
This com m itteo subm itted a bill which was passed b y the Legislature in
M a y 1917, providing partial relief as follow s: (a) T he 5500,000 guaranty
fund maintained b y the railway to be returned to it b y the State and be
applicable to capital purposes on ly . [This was done. V . 105, p . 908.)
(b) T ho co . m ay, subject to the approval o f tho C om m ., issue bonds or notes
to an am ount not exceeding 2 0% o f tho cash paid in b y the stockholders to
buy new cars, to replace or retire equipm ent, and to provide for tho first
three years’ rental o f tho Dorchester tunnel. Such bonds or notes must bo
retired within 15 years o f their issue date, (c) A bolition in part o f special
com pensation tax.— V. 104, p. 2450.
In Feb. 1918 tho M ass. P. S. C om m , and tho Streot Railway Investigation
Comm ission appointed b y the Legislature subm itted their reports in the
m atter o f affording further relief. T ho plan o f tho form er provided for
Governm ent operation with privato ownership while that o f tho latter was
a “ service at cost” plan. See Y . 106, p. 714. On April 12 1918 tho joint
C om m ittee o f Street Railways and M etropolitan Affairs o f tho Legislature
subm itted a “ Public C ontrol-Service at C ost” bill which includes tho fol
lowing provisions: (a) management and control o f operation o f the Elevated
to be vested in a board o f five trustees, three to bo appointed b y tho Gover
nor and tw o b y tho M a yor o f B oston, to servo for ten years and to bo paid
annual salaries b y tho com pany o f 85,000 each; (5) for the purpose o f im
proving tho road tho stockholders aro to bo assessed for 82,000,000 pref.
stock; (c) stockholders must establish a reserve fund o f 81,000,000, this
fund to servo as a barom eter for tho determ ination o f the proper rate o f fare;
(el) the rate o f faro must be such as to guarantee dividends to tho stockhold
ers o f 5 % for tho first tw o years, 5 }4 % for tho next tw o years and 6 % there
after. V. 106, p. 1688. Press reports state that this bill passed tho House
on M a y 10 1918, and that it went through tho Senate without change on
M a y 17 1918.
On M arch 1918 G overnor M cC all addressed a special message to tho
Legislature recomm ending imm ediate action on authorizing tho P . S.
C om m , to grant tho co. just, reasonable and equitable rates o f fares. V .
106, p. 1036.
N ew Equipment— Investment in Properly 1911-1916.— See V . 104, p . 862.
On N ov . 5 1917 the stockholders authorized an issue o f 82,000,000 15year bonds, notes or other form o f indebtedness, interest rate, & c., to bo
determined later.
STOCK AN D BONDS—
Date. Interest.
Outstanding. M aturity.
S tock, 823,950,000 (5100).............. ..
Quar
$23,879,400)
Seo text.
D ebentures, gold ____ c & r .n t f / 1905 4 g M -N
8,500,000 M a y 1 1035
[O ld C olon y Trust C o ., B oston. Registrar.
D e b en tu res,gold ______ c & r .n t f 1907 44S A -O
4,800,000 Oct 1 1937
D eb en tu res,gold ____ c * & r * .n t f 1911 4 .4 M -N
5,000,000 N o v 1 1941
Debentures, g old ____c * & r * .n t f 1912 5 J-D
8,286.000 D e c 1 1942
Notes payable. M a y 1 1918_______
________
3.204,000 ___________
Bonds.— T h e coupon bonds are in denominations o f $500 and S I.000
(except 1911 issue, which are for $1,000 o n ly ), and registered bonds o f all
Issues are in denom inations o f $1,000. $5,000, $10,000 and $50,000.
In D ec. 1908 the Massachusetts Railroad Comm ission sanctioned
$6,650,000 additional stock (raising stock to $19,950,000) at $110 per share,
to defray the cost o f the Cam bridge subway and for the construction o f the
East Cam bridge and W est End elevated lines. V . 87, p . 1662; V . 88, p.
1372. In D ec. 1912 increased its stock from $19,950,000 to $23,950,000
and offered stockholders the right to subscribe for new stock at $105 per
sharo. V. 95, p. 1272; Y. 96, p. 61.
Dividends.— Iflrst d iv ., 2 M .%. was paid A u g. 15 1898. In 1899 , 5 4 % ;
in 1900. 4 4 % : In 1901, 5 4 % : in 1902 to 1913 inclusive. 6 % yearly; In
1914 rate was reduced and in Feb. 2 % was paid. In July 1914 it was d e
cided to pay dividends quarterly (V . 99. p. 341) and in Aug. 1 4 % was paid;
N o v ., 1 4 % . In 1915, 5 4 % . In 1916, 5 % . In 1917, F ob ., 1 4 % : M a y .
4 % . A u g., 1 4 % : N ov . d iv. passed (V . 105, p . 1897).
R E P O R T .— Report o f Boston Elevated R y . for year ending D e c. 31
1917. in V 106, p. 1569. Fiscal year changed in 1917 by Legislature to end
Dec. 31.
Year end. 6 M os. end. —Years ending June 3 0 Dec. 31 17. Dec. 31 ’ 16.
1916.
1915.
Revenue miles run.......... 59,455,693 29,835,503 58,572,308 57,805,695
Earnings—
$
P a ssen g er______________ 19,008,052
M ails, rents, a d v ., & c._
134,482
$
9,444,521
353,359
$
18,126,247
560,725
$
17,269,034
529,574
T o t a l ________________ 19,142,534
N et earnings___________
6,186,752
M isc. interest, & c______
84,531
9,797,880
3,167,154
43,764
18,686.972
6,606,976
94,256
6,271,283
3,210,918
6,701,332
438,970
290,136
159,794
82,786
93,292
726,580
4,590
35,249
531,719
33,094
178,032
35,480
49,400
35,525
104,361
4,649
S67.196
536,871
343,813
158,801
184,687
1.453,160
9,180
69,825
1,064,625
65,053
355,568
68,057
28,357
71,008
207,515
13,846
819,792
546,793
371,107
151,289
183,929
1,430,323
9,180
65,993
963,619
86,166
355,488
04,838
B O ST O N S U B U R B A N E L E C T R IC C O M P A N IE S .— A trolley system .
O R G A N IZ A T IO N .— This com pany Is a voluntary association form ed In
N ov. 1901 on the same lines as the M ass. Electric C om panies. C o n
trols through stock ownership the M iddlesex & Boston Street R y . (into
which the N atick & C ochltuate St. R y ., the W estboro & H opkin S t. I ty .,
the N ew ton Sc B os. St. R y .. the N ewton St. R y . and the Lex. & Boston S t.
R y. have been m erged). In 1902 purchased N orum bega Park and Lexing
ton Park. In 1908 Massachusetts R R . C om m , sustained action increasing
fares on several o f the subsidiary lines from 5 to 6 cent*. V. 87, p . 345.
Has acquired freight rights in several o f the towns along Its lines.
S T O C K .— Shares have no par value, but in case o f liquidation tho pre
ferred shareholders will bo entitled to $100 per share, with accrued dividends,
the com m on shares participating pro rata in the remaining assets. (Soe
V . 73. p. 1159, 1263.) In 1904 15,635 shares o f preferred and 15,635 shares
c f com m on were offered to shareholders at $66 67 for one sharo o f pref. and
one share o f com m on Jointly. Listed on Boston Stock E xcli. in A pr. 1905.
On M a y 22 1913 the stockholders authorized the cancellation o f tho 32,387
shares o f cum . pref. stock outstanding and tho issue o f notes In place o f
sam e, holders having the option o f taking cash or notes for their stock.
V . 96. p 1487.
„
, ,
Fare Increase.— See M iddlesex & B oston Street R y . below .
Date. Interest. Outstanding.
M aturity.
C om m on stock _______________ _____ ____________ 50,296 sh. — - -----------
Preferred s tock , $4 per sh , cu m -----Q-J
3 1,387 sh .
Soe toxt
C oupon notes, $2,000,0001 1909 4 J-D
$1,100,800
Apr 1 1919
($100. $500 and $ 1 ,0 0 0 ) ... I Interest at Boston Safe Doposit & Trust C o .
----------------85.000
---------- - - - Dem and and tim e loans---------- --------Notes.—'T he 1909 notes aro not specially secured, but are sim ple obliga
tions o f the association, subject to call on any interest date on 60 d ays'
notice at 1 0 2 }$ . V . 89, p. 1068.
R O A D .— Companies owned and controlled operate In the aggregate abou t
131 miles o f track from Needham on tho south to Lowell on the north, and
connecting at five points with the tracks o f tho Boston Elovated R y . A t
W estboro connection Is m ade with the W orcester Consolidated.
Dividends.— First o f $1 on preferred paid April 1902: also $1 July 1902
and $1 O ct. 1902. In 1903, $4: in 1904, $2 50; in 1905. $2; In 1906. $2 75;
In 1907, $3
Jan .. April and July 1908 d iv . passed. In O ct. 1908 divs.
resumed, and paid 75 cents. In 1909, $3. In 1910 to 1913. incl., $4. In
1914, $350. In 1915. S3. In 1916. $3. In Jan. 1917, 5 0c.; A pril, 50c.
N one since. Arrears o f dividends, 816 50.
R E P O R T .— For years ending D ec. 31 1917, Juno 30 1916 and 6 m os.
ending D ec. 31 1916:
. .
Divs.
Surp.
Exp. & Ini.
Period—
Inc. from Securities.
831,203
$24,556
859,194
Year ond. D ec. 31 1 9 1 7 ............114,952
$31,203
36,009
$25,227
6 m os. end. D ec. 31 1916............$62,440
93,793
2,252
50,288
Y ea r end. June 30 1916--------------146,333
--------.
.
O F F IC E R S .— Pres.. Adams 1). Olaflin: V .-P ., Sydney H arwood; T reas..
Chas. W . Smith; Sec.. A . A . Ballantine: Asst. T reas., G . M . C o x .— V . 102,
p. 152; V . 103, p. 60,1209; V. 1 0 1. p. 2640; V. 105, p. 2542; Y. 106, p . 818.
6,598.566
928,500
554,106
326,397
In Jan. 1917 issued $2,700,000 5 % 5-year bonds to refund a like am oum
o f 30-year 4 % bonds duo F eb. 1 1917. Y. 104, p . 363. In A ug. 1917
Issued $1,581,000 7 % 3-year bonds to refund a like am ount o f serial deben
ture bonds due A ug. 1 1917. V . 105, p. 499.
On A pr. 2 1917 11.694 shares additional com m on stock were sold at auc
tion in 8 lots at prices ranging from 5 1 4 to 5 2 4 * V. p. 104. 1389.
In Jan. 1918 tho M ass. P. S. C om m . auth. tho issuo o f 8375,000 bonds
to repay the Boston E lev. R y . in part for purchase o f 50 now cars and
equip., costing 3402,367. V . 106, p. 398. Thoso bonds wero issued
and the co . can now obtain no further capital until it m ay bo possiblo to
dispose o f additional capital stock at not loss than par.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
Maturity •
$14,029,850 A p r ’ 18, 3 4
7 A-O
Com stock (850) $14,029.850............
6.400.000 D o c ’ 17. 4 %
Preferred ($50) $6.400,000................
8 J-J
2.600.000 M a r 1 1944
5% bonds o f 1914..........................1914 5 M -S
2.700.000 Fob 1 1922
Bonds ($1,000) ......................... 1917 5 F-A
6.709.000 Aug 1 1932
Bonds
($1,000)............. c * . n t f 1902 4 F-A
700.000 Jan 1 1923
Bonds
($70 0 ,0 0 0)-— c & r .n t f 1908 4 4 J-J
1.604.000 July 1 1930
Bonds
($1,000).......... c & r .n t f 1910 4 4 J-J
600.000 N o v 1 1932
B onds........................................ n t f 1912 5 M -N
1.581.000 Aug 1 1918
Serial deb bonds_______________ 1915 5 F -A
815.000 M a y 1 1919
Bonds ______________________ 1916 5 M -N
1.581.000 A ug 1 1936
Bonds (81,000)............
1916 5 F-A
1.581.000 Aug 1 1920
B onds ($1,000)_____ c* & r_ n tf 1917
7 g F-A
570.000 Sopt 1 1947
B onds________________________ 1917 7 M -S
375.000 Feb 1 1919
B on d s_______________________ _ 1918
7 F -A
Bonds.— Interest on all Issues is payablo at American Trust C o ., B oston,
except on the 3-year bonds o f 1916 and 1917, which is payablo at Old C olony
Trust C o .. B oston. T he bonds o f 1917 aro callable on and after A ug. 1
1919 at 102 and interest.
O F F IC E R S .— Pros., Joseph B . Russell; T reas., Parlcman D exter.—
V . 104, p. 1491, 2120; V . 105, p. 291, 499, 1105; V . 106, p . 398, 711.
(2) S o m erville H orse R R ,
. _
,
„
Owns 8.03 miles o f track. Leased to W est E nd Street R y . for $9,180
yearly— 6 % on $153,000 stock. Dividends aro payable M . & N . in B oston.
17,798,608
6,510,624
87,9*12
T o t a l ________________
fUDeductions—
Int. on West End d e b t ..
Taxes, West E n d . . ___
Taxes, Boston Elevated
Taxes on earnings______
Rental o f subw ay______
D ivs. on West End stock
D ivs. on Som. Horse R y.
M iscell. lease rentals___
Int.on B os.El .fund.debt
Int. on unfunded d e b t -W ash’ ton St. tunnel rent
East Boston tunnel rent
do
do
ext. rent
C am br’ge C onnec. rentBoylston St. subw. ren t.
M iscellaneous__________
183,958
1,483,857
9,180
71,366
1,087,041
87,531
356,622
71,366
99,608
71,105
210,840
12,299
Total deductions____ 5,553,777
B a la n ce________________
717.506
D iv id en d s____________ (344)835,779
70,859
150,382
4,538
2,803,657
5,497,562
5,274,347
407,261
1,203,770
1,324,219
(3)716.382 (5) 1,193,970(5M) 1313367
Surp Ins or d eficit____ def.118,273 def.309.121
sur.9,S00 su r.10,852
Road Dec. 31 1917 (“ R " Stands for Rapid Transit Track)
M iles.
M iles.
M ain 1st track (14.852 " R ” ) .247.756 Owned b y W est E n d _________428.252
M ain 2d track (14.632 " R " ) .213.322 Leas es,trkge.,&c. (39.48 l ‘ ‘ R ” ) 103.920
Sidings, &e. (10.000 “ R ” ) . — 71.094
Total (incl. 39.484 " R ” ) . . 532.172
T o t a l(in c l. 39.484 “ R ” ) . . 532.172
f W eight o f girder rails is 70 to 150 lbs. Cars, 3,723; horses, 214; electric
m otors, 8,081; snow-plows, & c., 281; snow sleds, 620; m isc., 664.
O F F IC E R S .— Pres., M atthew C . Brush; V .-P ., Charles S. Sergeant!
Treas,, Henry L . W ilson; Sec., Henry S. Lyons; V .-P . and Gen. A u d .,
J. Henry N eal.— V . 105, p . M 2; V . 106, p . 188, 394, 710, 714, 828, 1036,
1343, 1569, 1688.
Companies Controlled by Boston Elevated Railway Co.
(1) W est End S tr e e t R a ilw a y .— A trolley rood.
O R G A N IZ A T IO N .— Leased to Boston E levated R y . until June 10 1923
at 7 % on com m on and 8 % on preferred in addition to the paym ent o f
rentals, Interest and other charges. Elevated assumed possession Jan. 1
1898. See terms in V . 65, p . 1223. Consolidation authorized with tho
Boston E levated R y . See particulars under latter com pany.
In D ec. 1896 leased the right to use the Tretnont Street subway at 4 H %
o f Its net cost, stated approxim ately as $5,786,000 In Sept. 1898, when tho
third and last section was opened. Entire length Is 1 2-3 miles, with a
trackage o f about 5 miles. See V . 63, p. 1065, 1117; V . 67, p . 528. See
B ost. E lev. for extension o f contract and new construction.
[Vol. 106
(1) M id d lesex & B o sto n S tr e e t R y .— T rolley.
O R G A N IZ A T IO N .— Organized In 1907 and took over tho South M iddle
sex Street Ity ., sold at receivers’ sale July 1 1907, and has since acquired
and merged the W estborough & H opkinton St. R y ., tho N atick & C ochituate St. R y. (V . 87, p. 1420). the N ewton St. R y. (into which W altham St.
R y . had been m erged, and which had acquired Com m onwealth A ve. St. R y .
and W ellesley & Boston St. R y .). V . 89. p. 778. and the N ew ton & Boston
St. R y . (V . 89, p. 993). On M ay 9 1912 M ass. R R . Comm ission granted
ermisslon to absorb by consolidation tho Lexington & Boston S t. R y . and
sue $525,000 stock in exchange $ for $ for stock o f absorbed com pany;
S
Fares.— In A ug. 1917 tho co . accepted to t a trial period o f 6 months a
m odified fare schedule establishing 6, 7 and 8 cent faro units. Those rates
proving insufficient to meet its needs, tho co . on M ar. 18 1018 filed a now
soiledulo with tho M ass. P. S. C om m , eliminating 6-cent faros and establish
ing a 1-cent charge for transfers from)a 7-cent to an 8-cent lino, froo transfers
to bo issued from an 8-cont to a 7-cent lino. Tho now schedule would also
abolish strip tickets o f 20 rides for $1 20. Comparo V . 99, p . 1366.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
M aturity.
S tock. $ 1 .9 8 7 .0 0 0 ---.................................................
$1,987,000 l n ’ 1 7 .1 H %
First and ref M . $5,000,000/ 1912
4 H g J-J
1.483.000 Jan 1 1932
gold ($1.000)____________ c\Int. at Boston Safe D ep . & T r. C o ., trustee.
Lex & B ost 1st M . $500,000./ 1900
4)4 g A-O
500,000 July 1 1 9 2 0
g ($1,000). callable 1 0 5 --c* l Interest at Beacon T rust C o .. B oston, trustee
Current liabilities D ec. .31 1917-----------------------------265.755 ------ ---------Bonds.— Remaining Hrst and refunding bonds are roserved for additions,
extension and Improvements. Callablo on any interest date on 30 days
notice as follows: Jan. 1 1917 to July l 1921, Inclusive, at 10714 and lut.;
Jan. 1 1922 to July 1 1926, Inclusive, at 105 and Int.; Jan. 1 1927 to
I July 1 1931, inclusive, at 10214 and Int. V . 9-1, p. 351.
! E A R N IN G S .— For year ending D ec. 31 1917, gross, $1,074,099; n et,
after taxes, 3185,928; interest, & c., $154,915; divs. (1 1 4 % ), 829,805; su r..
$1,208.
i R O A D .— Owns 95.904 miles o f track in N ew ton, W altham , W ater
tow n, N atick. W ellesley. Framingham. H opkinton. Neadham W estboro,
S borbum , W ayland, Belm ont and Ashland, connecting with the W orcester
Consolidated Street R y ., the Boston Elevated R y . (at 4 p oints), & c.
Forms a link in a through line from Boston to W orcester. Also own* 32.356
' miles o f track, leases 0.745 mile; total. 33.101 miles, extending from Arling
ton Heights (terminus o f Boston Elev. system ) through Lexington and Bed
ford to Billerica, whero care go through to Lowell without change, and also
to the Sullivan Square. Charlestown, station o f tho Boston E lev. R y .. with
I branches to W altham and to C oncord. T otal track owner!, 128.254 miles.
| 264 pass, and 14 work cars; 20 snow plows. 60 to 75-lb. T . and 95-lb.
girder rails.— V . 99, p. 120, 343, 1366, 1598; V. 101, p . 2071; V . 105, p. 607
j
M A S SA C H U S E T T S E L E C T R IC C O M P A N IE S .— Stree* railways.
O R G A N IZ A T IO N .— Formed In Juno 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. T he trust runs for 21 year*, or until
June 29 1920, at which tim o the affairs o f the Association are to bo liqui
dated (the pref. shares having a first claim upon the asset* for $100 per share
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 share* then out
standing shall vote to continue Its existence. V . 97, p. 1823. Messrs. E .
Ma y , 1918.]
ELECTRIC RAILW AYS
Rollins Morse & Br. and Tucker, Anthony * Co. of Boston, who pro
moted the combination. In June 1899, In offering some of the stock for pub
lic subscription ($1,000 of prof, and $500 com. was offered for $1 050)
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 soprate properties, but through consolidation there la now only one operating
company, namely, the Bay State St. Ry.. whose entlro common stock la
owned by the Massachusetts Electric Cos. The Hyde Park Electlc Lt Co
formerly owned, was sold on Jan. 3 1912 to Edison Elec. Ilium. Co. of Bos-*
n ^ ar> 1912 the Bay State St. Ry. bought back the power station.
The system comprises electric street railway lines In 22 cities and 70
towns in Eastern Massachusetts and Rhode Island, covering the greater
part of the street railway mileage north Dr. 1 T>! - as farxas Newburyport and
n Iononefon A nec onri oAiifVi »
/T
nn of Boston
1 ~
i -r_ . . , n
__
11
L e a s e .— Ini 1903 the Boston Elevated Ry. leased all of the track of the
former Old Colony Street R y. (now a part of the Bay State St. R y.) In
the city of Boston for 99 years. The lease provides for the payment o f all
taxes and also 6 4 % on replacement value (appraised at $353,979. less the
rental of certain short pieces or track appraised at $13,866) of property
leased as of date Feb. 16 1903, and 4% on all additions and betterments.
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, Methuen, Middletown and North Andover.
In Sept. 1912 signed a contract b y which the B oston Elevated brings the
com pany s express cars into Boston over the form er's dines to a freight
terminal. V . 95, p . 1123.
U . S . G ov er n m e n t M a k e s A d v a n c e s .— I n Nov. 1917 work was begun on
additional track to take care of the increasing traffic in Quincy, due to the
expansion of the Bethlehem;Shipbuilding plant. The cost will be $175,000,
which (will befadvanced fromjtho War Dept. Emergency Fund and will be
repaid to the Govt, at the rate o f 1 cent from each fare collected.
D e c i s i o n r e g a r d in g c a r r y in g c h ild r e n f o r h a l f -f a r e .— In M ay 1912 the full
bench of Mass. Supreme Court sustained the constitutionality of Chap. 576
Acts of 1911, providing that streot railways shall carry school children un
der 16 yoars of age for half fare. V. 94. p. 1507.
F a v o ra b le D e c i s i o n . — For decision in Fall River rate case see V.105.P.2455.
F a r e I n c r e a s e s . — On July 3 1917 the Mass. P. 8. Comm, authorized
a be. fare, effective July 13 1917, on the company’s entire system in the
State of Massachusetts for a period of 6 months. Commutation tickets
at the rate of 20 for SI are provided, these tickets to bo accepted in any
single-fare limit, leading out of the centre o f every city where the 5-cent
rare now Is In effect, but may not bo used on Sundays, holidays or after
I j} -!1 . on Saturdays
?
V. 105, p. 72. Compare V. 104, p. 2336. In Aug
191/ the Rhode Island P. S. Comm, denied tho application of the company
to charge a oc fare in the State of Rhode Island. V. 105, p. 817
In
April 1918 the Mass. P. S. Con»m. suspended until June 1 1918 the re
ceiver s petition to increase fares through the establishment of a zone
system. V. 106, p. 1795. Compare V. 105, p. 1522; V. 106, p. 1460, 1688.
Investigation.— In April 1918 the House in the Mass. Legislature rejected
a motion requesting the postponement of further investigation of the c o .’s
frfairs by the Mass. P. S. Comm, pending action by tho General Court.
V. 106, p. 1576.
Wages.— V. 100, p. 2166; V. 106, p. 497.
„ STOCKS A N D BONDS— D a t e . I n t e r e s t .
O u ts ta n d in g . L a s t d iv ..& c
as Scollay Sq. under a 99-year lease.
Tho American Gas Coal Co. was incorp. in Dec. 1917 in Penna with
$200,000 auth. capital stock to take over certain coal lands of the
Elec. Co. s subsidiary, the New England Fuel & Transportation Co.
P a y m e n t o f A c c r u e d D i e s , o n P r e f . S lo c k .—On Jan, 5 1912 pref, share
holders were offered $3,649,000 In negotiable warrants for additional pref.
stock, to represent accrued dividends of 1 7 * 4 % on pref, shares. Now pref,
shares issuod July 1 1912, V. 93, p. 1462; V. 94, p. 68
1
W a g e s .— F o r award by arbitration board in June 1915 see V. 100. p. 2167.
Slock, a n d B o n d h o ld e rs O rg a n iz e f o r P r o t e c tio n .—Deposits of the various
securities outstanding have been called for by tho following protective
committees:
P r e fe r r e d S tock h old ers' C o m m itte e .— Chairman, Rob’t C. Morse- II II
Crapo, 8. II. Fessenden, Hon. Frederic A. Fisher. Alfred D.’ Foster.
Francis R. Hart. Geo. Wigglesworth. Sec’y, Philip M. Reynolds. De
positary, Old Colony Trust Co., Boston. V. 105, p. 2184. Deposit
receipts listed on Boston Stock Exchange. V. 106, p. 2014
C o m m o n S tock h old ers' C o m m itte e .—Galen L. Stone, F. L Hieeinson .T
r
and John C. Kiley. Depositary. Old Colony Trust Co., Boston: V. 105,
p.2272. Deposit receipts listed on Boston Stock Exchango. V 106 n 2014
C o m m itte e f o r 5 % N o t e s . — Chas. G. Bancroft, Chairman; Geo. H. Stuart’
J. C. Neff, Arthur C. Raymond, Roger W. Babson and E. Elmer Foye
all of Boston. Tyler, Corneau & Earnes, counsel. Depositaries Intorna
tional Trust Co.. Boston, and Girard Trust Co. Phila. V 105 n W t
2365. A majority of the notes havo been deposited.
"
"
A committee consisting of H. II. Holder, Roger W. Babson, Robert O. Stock com m on (par $100)____ _____ ______
$20,517,200 June’16.>4%
F-A
Morse and Gordon Abbott was also appointed, to confer with the manage 1st pref ($100) 6% c u m ...................
4.014,300 Feb ’17. 3%
____ _
ment and secure information regarding tho company’s finances. For roDort Serial notes. $2.000.000c.ntf/ 1912 5 F-A
1,814,000 _______
See text
by this committee in March 1918, see V. 106, p. 1036.
_
1Interest at American Trust C o.. Boston.
Ono-year notes...................... c 1917
5%
850,000 Mar. 15 ’ 18
STOCK AND BONDS.—
-The share capital Is represented by certificates
of participation which give the owners a proportionate lnterost in the shared gquipt notes, $ i,308.000 g ------1917 6 g F-A
1,308,000
See text
held by tho trustees. Both classes of shares are reported exempt from taxa
Norrefjntga_,$15,000,-1 1904 4 g J-J
8,083,000 July 1 1954
tlon in Massachusetts. Com. stock and stamped prof, stock listed on , 000. gold ($1,000) .c*_ntf Int. at American Trust C o., Boston, Trustee.
Boston Stock Exchange. T h e b a la n c e s h e e t o f th e c o n tr o lle d B a y S ta le S t. Ru Lynn & Boston 1st mtge, g, ,1894 5 g J-D
3,723,000 Dec 1 1924
showed funded debt June30 1917,$23,456,500, and notes for amounts due „ $5,379,000 ($1,000) c*.ntf Int. at Old Colony Tr. Co., Boston, Trustee.
G R & I 1st mtge ($1,000), ,1900 5 g J-D
Mass. Elec. Cos., $650,000.
180,000 June 1 1920
D a le .
R a te .
O u ts ta n d in g .
D iv id e n d e .
T $180,000, ? ............ ............. Interest at City Trust C o., Boston, Trustee.
Tv i ^ ’ r g v gold.............ntf
Common stock, par $100 ........................ $14,293,100
u 4.1
1?.t “ ‘ S ?- - 7,------ n t f 1899
5
35,000 M ch 1 1919
($14,293,100).............
Tho M ystic Valley St. R y. has out $60,000 gold 5s, due Jan. 1 1919.
Prof, stock, par $100 4 % ___ 4 J-J
24,130,315 See text
Lowell Lawrence & Haverhill.
cum ($24,206,400)___ _
Coll trust coupon notos, gold 1915 5 g A-O 3,000.000 April 1 1918. r BO,Nps—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
($1,000) $3,500,000.c*c pt/Old Colony Trust Co., Boston, Trustee.
Lowell Lawrence & naverhlll f 1893 5 g J-D
$607,000 June 1 1923
The 1915 coupon notes are secured by $12,265,800 common stock of tho
I*1 ratgo. $1,900,000, goid./SubJ. to call for the sink, fund at 105 & Int.
Bay State Streot Ry. V. 100, p. 733.
$ 1.,000. c«_ntf IInt. at American Trust Co., Boston, Trustee.
REPORT.—For years ending Sept. 30 (1917report in V, 105, p. 2361):
Peoples St Ry, West New-) 1898 5 J-J
64,000 Jan 1 1928
Y e a r e n d in g D i v s . o n
In i. on
T o ta l
I n t e r e s t , P r e fe r r e d
S u r p lu s
bury 1st M, assumed._ntf llnterest at State Street Trust Co„ Boston.
S e p t. 30— S to ck s. N o t e s , & c . I n c o m e . E x p s . , & c . D iv id e n d s ,
or D eficit
1916-17...
$14,706$21,023 $35,729 $165,599
def.$129,870
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 .
1915-16...
111.259 48,368 159,627 164,365
d<rf!$4 738
BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
1914-15...
513.06S 78.489 591.557 192,079 (2)$484.128 dof.84 650
$6,780,000 July 1 1954
1913-14.--1,077,291 77.552 1.154,843 177,693 (4)963.256 sur.8 894 Refmtge, $10,000,000. gold.l 1904 4 g J-J
i l l .000)------- --------c*.ntf|lnt. at Old Colony Tr. Co., Boston, Trustee.
Total profit and loss surplus Sept. 30 1917. $2,434,273.
689,000 Oct 1 1924
DIVIDENDS.—
-First dlv. on prof, stock, 2%. was paid Dec. 1 1899; also Brockton (Consol) St Ry 1st) 1894 5 g A-O
inort. $750,000. gold...ntf/lnt. at State Tr. Co., callable at 105 & Int.
2% June 1 1900. Div. period then changed to J&J and 2 1-3% paid Jan.
oston Milton & Brockton! 1899 5 J-J
100,000 July 1 1919
1901; July 1901, 2%; In 1902, 1903 and 1904, 4%. None to Jan. 1909.
1st mtge. $100.000-----ntf/lnt. at Internet. Tr. Co.. Boston. Trustee.
when 1% paid; July. 1>*%. Soo V. 79. p. 2642, 2456: V. 85. p. 1646; V. 87.
$325,000 Jan 1 1920
p. 1420, and V. 89, p. 1597. Inl910,3J<%. In 1911.4%. In 1912, 4%. N B^ford M’dleboro &Brock) 1900 5 g J-J
1st M, $325,000 ($1,000), lint, at American Tr. Co., Boston, Trustee,
(Soo above for paymont of accruod divs. of 17H % - ) In 1913 and 1914, 4%.
gold— ....................... ntfj
In 1915. Jan., 2%. Tho July 1915 div. was omitted. Soe V. 100, p. 1832.
Of the $10,000,000 Old Colony St. Ry. ref. mtge., $2,204,500 are reserved
Nono slnco.
OFFICERS.—Pros., Gordon Abbott; V.-F., Charles E. Cotting; Sec. for prior liens. Remaining bonds can only be issued for 50% of cost of
Everett W. Burdett; Treas., J. H. Goodspeod; Gen. Mgr., P. F. Sullivan; additions & impr’ts. These bonds are not subject to call. V. 93. p. 1784.
Gen. Auditor, H. II. Read. Executive Committee: Philip Dexter, Chair
Globe Street Railway Securities.
man; Gordon Abbott, Charles Francis Adams, Galen L. Stone, Percy
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Parker, Philip L. Saltonstall and Charles E. Cotting. Office. 84 State St.
Prov & Taunton St Rv 1st gl 1898 5 g M-S
$150,000' Sept 1 1918
Boston.—V. 105, p. 2365, 2456, 2543; V. 106, p. 86, 499, 1036, 2014.
($l,000),auth,$200.000.ntfj American Trust Co., Boston, Trustee.
(1) Bay State Street Ry.—An electric road.
South Shore & Boston Street Railway Securities.
R ec e iv e r .—On Dec. 12 1917 Judge Frederick Dodge In the U. S. Circuit
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Court at Boston appointed Wallace B. Donham receiver on petition of
$335,000 Aug 1 1919
Archibald McNeil. Sons & Co. of Bridgeport, Conn., holders of a claim of Bonds. IstM ($1,000). gold.l 1899 5 F-A
$1.000,000----------------ntf/lnt. at American Trust Co., Boston, Trustee.
$19,000 for coal. V. 105. p. 2364.
Norf Cent 1st M, gold. $100.- 1898 5 g J-J
27,500 July 1 1918
R e c e iv e r ’s C e r t ific a te s .— I n te re s t a n d R en ta l P a y m e n ts .—All underlying
000, subject to call-----ntf/lnt. at Internal. Trust Co.. Boston. Trustee.
interest and rontals, due Jan. 1 1918, were paid except the rental duo the
Nashua Street Ry., tho lease of which was not adopted by tho receiver. On
S lock a n d B o n d s . —$377,000 Bos. & Nor. and Old Colony St. Ry. bonds
Jan. 4 1918 tho Court auth. tho receiver to Issue certificates for the payment were held in Bay State St. Ry. Dec. 1 1917. By tho terms of purchase
of taxes duo tho State and Interest on tho Ref. 4s of tho Bos. & Nor St of Old Colony by Boston & Nor. the pref. stockholders of both cos. became
Ry. and Old Colony St. Ry. Tho bondholders’s commtttoo, however’ 1st pref. stockholders of the Bay State St. Ry. Pref. stock is subj. to call at
considered it inadvisable to consent to tho issue of receiver’s certificates 120. Tax-exempt in Mass., incl. State income and normal Fed. income tax.
for tho payment of taxes and arranged for tho advancement of tho Jan 1 Listed on Boston Stock Exch. Of the $15,000,000 Bost. & Nor. bonds, $4,
1918 lnterost on the deposited bonds through tho depositary. V 106 481,000 are reserved to retire prior liens. Remaining bonds can be issued
p 606. Int. duo Fob. 1 1918 on the equip, notes was paid. In March only for 50% of cost of add'ns and impts. These bonds have no sinking
1918 Judge Dodge auth. tho receiver to discontinue the operation of 12r Bu»d and are not subject to call. V.93, p. 1784. Of the $5,379,000 1st M.
>
miles of unprofitable lines in his discretion, with tho stipulation that tho bonds of the Lynn & Boston RR. RR., $1,656,000 have been canceled.
public be given sufficient notice. V. 106, p. 1125.
The remaining coupon notes of 1912 mature on August 15th as follows:
C o m m itte e f o r B o s to n < N o . S t. R y . a n d O ld C o lo n y S t. R y . 4s.—John R
&
1918, $57,000; 1919. $64,000: 1920, S72.000; 1921, $S0.000; 1922,
Macomber, Chairman; Jamas Doan, Frederick II. Eckor, Wm. L. Garrison $88,000; 1923, $97,000; 1924, $106,000: 1925, $116,000; 1920, $126,000;
Jr., John E. Oldham, Philip Stockton, Frcdoric B. Washburn and W 1927, $136,000; 1928, $148,000; 1929. $160,000; 1930, $174,000; 1931.
Eugotm McGregor, Sec. Depositary, Boston Safe Dep. & Tr. Co., Boston. $188,000; 1932, $202,000; V: 95. p. 618. $186,000 have been retired.
The 1-year notes of 1917 are secured by $1,417,000 Bos. & Nor. and Old
Colony St. Ry. bonds.
'C o m m it t e e 'f o r 'L y n n & B o s to n 1st M l g e . 5s.—Roland F. Gammons, Ola
Olson, Chester B. Humphrey and Samuol II. Hollis; Leroy D. Peavey Sec.
The equipment notes were issued to provide, in part, for the payment of
and Coolidgo & Ilight, counsel. Depositary. First National Bank, Boston, 200 now semi-conv. P-A-Y-E cars, costing $1,631,000. Notes are due
V. 105, p. 2455; V. 106, p. 188.
$131,000 annually Aug. 1 1918 to 1926, incl.. and $129,000 Aug. 1 1927,
C o m m itte e f o r H o ld e r s o f U n s e c u r e d N o t e s . —J. Howard Leman, Chairmanbut callable on any int. date at 100 and int. on 6 week's notice. Int. at
Albert H. Beck, I'rancis E. Frothingham, Albert L. Riploy, Bernard W.’ OM Colony Trust Co., trustee. V. 105, p. 908.
Trafford, Thos. H. West, Jr., Arthur II. Gilbert, Sec., 35 Congress St
DIVIDENDS.—6% was
pref. from
and incl. Feb. 1917;
Boston, and Choate, Hail & Stewart, counsel. Depositary, First National Aug. 1917 div. was passed. paid on div. on Bay1908 toSt. Ry. com.—3%—
Initial
State
liamc, i(oscon. v . mo, p , 821»
paid Dec. 30, 1911; in 1912. June, 2%; Dec., 3%; in 1913, June, 2 >4%;
O R G A N IZ A T IO N .— This was the Lynn&Boston RR, (Incorp. in Mass. Dec.. 3%. In 1914. June. 2 4 % ; Dec.. 2 4 % .
June 1916, 4 % .
Apr I 6 1859), but on July 23 1901 name changed to Boston & Northern
INCOME ACCOUNT.—Fiscal year has been changed to end Dec. 31.
St. R y . and on A ug. 8 1911 name was again changed to present title. The
Y e a r e n d in g ---------- Y e a r s e n d in g J u n e 30---------following companies have been absorbod from time to time. The latest of
D e c . 31 T6.
1915-16.
1914-15.
1913-14.
these absorptions was in Juno 1911. when the Bos. * Nor. took over tho
Old Colouy and issuod 7,767 sharas of prof, and 80.041 shares of com. In Gross earnings----------- $10,413,618 $9,996,484 $9,538,407 $9,614,153
Net earnings.................. S2.440.817 $2,231,603 $2,640,655 $3,186,290
exchange lor like amount of Old Col. Street Ry. stock.
Bevorly & Danvers.
Other income________
62,43 1
62,812
66,459
81,096
Mystic Valley.
Boston Milton & Brockton.
Needham & Boston.
Braintree & Weymouth.
>
Gross Income............. $2,503,248 $2,294,415 $2,707,114 $3,267,386
Now Bedford Middiob. & Brockton
Bridgovv. Whitman & Rockland.
Int., taxes, rentals. &c. $1,969,094 $1,949,441 $2,004,564 $1,952,115
Norfolk Central.
Brocktou Bridgew. & Taunton.
Common dividends.. (>4%)102.586 (>4)102,586(2>4)512,930(4>4)1077153
Norfolk Suburban.
Brockton & East Bridgewater.
First prof. divs. (6% )..
175,952
164,916
164,916
164,916
North Woburn.
Dlghton Somerset Sc Swansea.
Old Colony Street Ry.
East Side Brockton Sc Holbrook.
Balance, surplus........ $255,616
$77,471
$24,704
$73,202
Providence * Taunton.
Georgetown Rowley & Ipswich.
R es u lts in 1917.—Net, after cost of operation and fixed charges, amounted
Quincy * Boston.
Globe Street Ry,
to $436,881 for the 10 mos. end. Oct. 31 1917, against $806,409 for the
Reading & Lowell.
10 mos. of 1916.
Gloucester Essex & Beverly.
Roading Wakefield & Lynfield.
Gloucester & Rockport.
Rockland & Ablngton.
ROAD, &c.—The Bay State St. Ry. owns 875.37 miles and leases 72.35
Gloucester Street Ry.
Rockport Street Ry.
miles, a total of 947.72 m. of main line: owns and operates 2,130 passenger
Hanover Street Ry.
Salem * Wakefield.
and 264 express cars. Power capacity 49 engines, 43,775 h.p., and 62
Haverhill Sc Andover.
South Shore & Boston.
generators. 29.755 k.w.; 11 turbtnos, 22,500 h.p. and 15,100 k.w.
Haverhill Georgetown Sc Danvers.
Taunton & Brockton.
OFFICERS—Pres.. Patrick F. Sullivan, Boston; V.-P., R. B. Stearns;
IIIngham Streot Ry.
Taunton Streot Ry.
V.-P. & Treas., C. R. Rockwell; V.-P. & Gen. Mgr., R. S. Goff.—V. 106.
Lawrence* Reading.
Wakefield & Stonoham.
p. 295, 497, 606, 821, 1125, 1460, 1576, 1688, 1795.
Lowell & Woburn.
West Roxbury & Rosllndale.
Lowell Lawrence & Haverhill.
Whitman Street Ry.
(a) Boston & Chelsea RR.—Owns 4.37 miles of main track. Leased
Lowell & Suburban.
Woburn & Reading.
to Lynn Sc Boston Street Ry. Co. at $7,260 per annum, equal to 6% on
Middleton & Danvers.
$121,000 stock, payable A. & O.
12
ELECTRIC RAILWAYS
(6) B o sto n & Revere E le c tr ic S tre e t R y .
ORGANIZATION.—Incorp. June 24 1889. Owns 3.78 miles of main
track. Leased from July 1 1895 for 99 years to Lynn Sc Boston (now Bay
State Street Ry.), which guarantees Interest on the $50,000 mtge. of 1908
and dividends on $50,000 stock from July 1 1898 at 5% per annum.
STOCK AND BONDS— D a t e .
I n terest.
O u ts ta n d in g .
M a tu r ity .
Stock (par $100)___________ ____
5 J-J
$50,000 See text
Boston & Revere Elec St Ry \ 1908 5 g M-3
50,000 Sept 1 1928
$50,000 gold ($1,000)__ c*/lnt. at American Trust Co., Boston, Trustee.
B o n d s .—No sinking fund, but bonds may be called on any Interest date
on six weeks' notice.
(c) E a s t M iddlesex S tre e t R y .
ORGANIZATION.—Owns 19.35 miles of main track. Leased May 1
1893 to Lynn Sc Boston (now Bay State St. Ry.) for 99 years at a rental till
May 1 1896 of $18,000 yearly In addition to fixed charges; then till May 1
1901 $24,000 yearly; and for remainder of lease $30,000 yearly. Eight
per cent divs. had been paid, but on May 1 1901 were Increased to 10%.
STOCK AND BONDS— D a t e .
In terest
O u ts ta n d in g .
M a tu r ity
$297,700 See text
10
Stock ($100).$300,000........... ........
Plain bonds, int. guar. (end.). 1898 5 M-S
120.000 Sept 1 1918
Plain bonds, int guar (end) . . 1902 4 J-J
100.000 Jan 1 1922
Interest at Old Colony Trust Co., Boston.
The lessee 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.
id)
[Vol. 106
S to c k .—Preferred stock Is redeemable at option of company at 115.
S e c u r itie s O w n e d ( S to n e
W e b s te r P r o p e r t ie s ) D e c . 31 1917.
Blackstone Val. G. Sc E l..*$518,900|Tampa Electric Co______ b$233,800
Cape Breton Elec. Co____ *500,0001 Galv. Houston Elec. Co___ *500,000
Jacksonville Traction C o ..*350,000 Northern Texas El. Co___ *500,000
Houghton County El.L. Co.*500,000 Pug. Sd. Tr.,L.& Pow.Co* 1,460,800
Houghton County Trac. Co.*100.000 Key West Electric Co____ a222,000
Columbus Elec. Co______ a ll5 ,000 Key West Electric Co........ *374,100
El Paso Elec. ___________*525,000 Cash & notas receivable___ 86,432
x
Co________ __
* Common stock, a Preferred stock, b Capital stock.
See statements of these companies (except the Blackstone Valley Gas
& Electric Co. and the Houghton County Electric Light Co.) on subse
quent pages.
D iv i d e n d s .—On pref. 134% quar. since Aug. 1909 to and Including May
• J Y /o~mEtJ J. 1. 1910; Aug., l/4 70 -_ In 1911.
--- . L
“
L 1
1918. _On com., 1st div.—134%—Feb. _ lyiU i iUlK'i A74 % • XU 1VU .
3%. In 1912, 334%. In 1913 and 1914. 4%. In 1915. Feb.. 2%.
None since.
INCOME.—Years ending Dec. 31:
S u r p lu s o r
P r e f .D i v s .
C o m .D i v s .
C a le n d a r
T o ta l
E x p en ses
D eficit.
Y ear—
In com e.
& T a xes.
(2 % ) .
(6 % ).
$150,000
sur.$25,049
$9,096
1917_______ $184,145
sur.24,285
150.000
1916............. 179,858
5,573
def. 8,863
150.000
$50,000
1915............. 197.981
6.844
DIRECTORS.—Henry G. Bradlee, Russell Robb, Chas. A. Stone,
Edwin S. Webster, Eliot Wadsworth (Pres.), John W. Uallowell, Dwight
P. Robinson.—V. 95. p. Ill; V. 97. p. 1119. 1289, 1734: V. 101. p.292.
W in rilsim m e t (Street) R R .
ORGANIZATION.—Owns 2.08 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.
(e) N ew p o rt & F a ll R iv e r S tre e t R y .
ORGANIZATION.—Organized by special Act on Peb. 23 1898. July 1
1900 consolidated with Newport St. Ry. Has also consolidated with Newort Illuminating Co. Embraces 21.74 m. of main track In and between
Tewport and Fall River; also electric lighting. Was leased on July 1 1901
for 99 years to the Old Colony St. Ry. (since merged In Boston Sc Northern,
now the Bay State St. Ry.) for a rental of 6% per annum and int. on bonds.
The Mass. Elec. Companies disposed of Its holdings in Peb. 1902.
In Oct. 1915 issued $50,000 additional stock and $123,000 bonds In ac
cordance with lease to Bay State St. Ry.
STOCK, BONDS. ETC.— D a t e .
I n t e r e s t . O u ts ta n d in g .
M a tu r ity .
Stock, par $100___________
J-J
$1,050,000 See text.
Newport Sc Fall River 1st 1 1898 5 P-A
240.000 Aug 1 1918
mortgage......................t f / ‘American Trust Co.. Boston, Trustee.
'
Consol mortgage. $1,000,000, 1904 4>4 J-J
690,000 July 1 1954
gold ($1.000)_____ c*&rtf Int. at Am. Trust Co.. Boston, Trustee.
Newport Illuminating Co 2d---------------------------------„ ------6g
63,500 Oct 11925
mortgage, gold_______ tf/Central Trust Co., New York, Trustee.
B o n d s . —Remaining consol, mtgo. bonds are reserved to retire prior liens.
Not redeemable. V. 79. p. 213, 501, 1462.
S
BOSTON & WORCESTER ELECTRIC COMPANIES.
ORGANIZATION.—This Is a voluntary association organized under a
trust agreement dated Dec. 29 1902. Its property consists of the en
tire common stock, $60,000 preferred stock, $181,200 First Mortgage
bonds and $70,000 "notas payable” of the Boston & Worcester Street
Ry. It has issued 33,936 4% cumulative pref. shares and 34,614 common
shares, no par value; but in case of llqudiation prof, shares recolve $100
each before the participation of common. In Jan. 1905 was listed on Bos
ton Stock Exchange. Stock was increased to present amount by the Issue
in July 1906 of 6,000 shares common and 6,000 pref,, which was offered to
shareholders at $105 for a block of one preferred plus ono common share.
R E P O R T .— For calendar year 1917 and years ending June 30.—■
F is c a l
D iv s . o n
Y e a r — B .& W .S t k .
O ther
In com e.
1917-------- $54,237
$12,650
T o ta l
In com e.
P r e fe r r e d
D iv id e n d s .
$66,887
$67,872
E xp en ses
& T a xes,
S u r p lu s
or D e f i c i t .
$3,757 d of.$4,742
1916-17-- 50,625 16,907
67,531
67,872
2,808 def. 3,149
1916-16— 75,937 15,636
91,573
84,840
1,773 sur. 4,960
DIVIDENDS.—First div. on pref. stock, $2. paid July 1 1904: 1905 to
1903. Incl., $4: In 1909, $2; in 1910, Jan., $1; 1911. none; 1912, to 1915.
inch, S2. In 1916, $2 50. In 1917, $2. In 1918, Jan., SI.
OFFICERS.—Pres., William M. Butler; V.-P..A. E. Childs; Soc..J. P.
Bacon; Treas., A. E. Stone.—V. 103, p. 60, 2075; V. 105, p. 1305, 1308.
Boston & Worcester Street Ry.—Trolley.
ORGANIZATION.—Incorporated In Massachusetts on Nov. 15 1901.
perpetual. Owns the Framingham Union Street Ry., Fram
ingham Southborough & Marlborough Street Ry. and the Marlborough
Sc Framingham St. Ry.
In March 1907 Mass. RR. Commission granted
right to do an express and freight business over entire line.
On Feb. 21 1911 Mass. RR. Comm. auth. an issue of $397,200 6% cum.
($100) p r e f . stock (auth. by stockholders Feb. 2 1911), of which $297,000
was used to retire like amount of common Issued In 1910 (V. 90, p 625) and
remainder to fund floating debt. V. 92. p. 394. 525, 659, 724
In Nov. 1912 made a contract with the Boston Elevated Ry. for the
operation of express cars over that company’s tracks to the freight express
terminal on Harrison Ave.
Franchise
Fare Increase.— In 1909 single fare unit raised from 5c. to 6c. On Oct1 1917 adopted with the approval o f the M ass. I*. S. C om m , a schedule
based on a rate o f 2 cents a mile with a minimum o f 6 cents for a single fare.
V . 105. p. 1308.
On Nov. 24 1916 there were Issued 600 additional shares pref. stock at
$100 and $60,000 1st 4Hs at par for paying off floating debt incurred for
Improvements and for equipment.
In May 1917 the P. S. Comm. auth. the issue of $270,000 additional pref.
BRATTLEBORO, VT.
TWIN STATE GAS & ELECTRIC CO.
ORGANIZATION.— Incorporated in Connecticut on Aug. 20 1906 and
acquired the Brattleboro Street R y ., the Brattleboro Gas Light C o., the
Dover Gas Light C o.(V . 83, p. 562), the Bennington Eloctric Co. and the
Hooslck Falls Illuminating Co. In Oct. 1913 acquired the St. Johnsbury
Eloctric Co. and in April 1914 the Cascade Lt. & Power Co. and the Berlin
Elec. Co. Furnishes gas, electric light and power to Dover, N. H ., and
Bennington and Brattleboro, Vt.; also electric light and power to Rochester,
Salmon Falls, Rollinsford, Somersworth, Berlin, Milan, Gorham and Hins
dale, N. H.; St. Johnsbury, St. Johnsbury Center, Passumpsic, Danville,
West Danville, North Bennington, Bonnington Centre, West Brattleboro
and Nowfane, Vt.; Berwick, North Berwick, South Berwick and Lobanon,
M e., and Hooslck Falls, N. Y ., and operates the Brattleboro St. Ry.
Pres., Samuel Insull, in a letter dated Mar. 25 1916, said, “ all the principal
fr a n c h is e s were granted by the State Legislature and have been construed b y
counsel as perpetual.” Control Is held by the National Light. Heat Sc
Power C o., control of which was in turn acquired by the Middle West Utili
ties Co. In Oct. 1912. V. 95. p. 1750.
STOCK AND BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Common, $2,500,000. ($100)---------------------------- $1,250,000 ...................
Pref(5%cum)$2,500,000 ($100)____
5 Q-M
l,500.000Mar’ 18 134 %
1st & ref M $10,000,000 gold/ 1913 5 g A-O
1.940.500 Oct 1 1953
($1,000, $500 & $l00)c*cpt\Guaranty Trust O o „ N. Y ., Trustee.
1st ref M . $1,500,000 g ($5001 1906 434 A-O
794.000 Oct 1 1926
Sc $1.000)___________ c*tf|Iut. at Columbia Trust C o.. N. Y ., Trustee
5-year debentures $325.000----------5
300.000 .....................
Sec notes, $300,000 g ($100.1 1918 6 g J-J28
300.000 Jan. 28 1919
$500 & $1 ,000 )______c*tf/M etropolitan Trust Co., N. Y ., Trustee.
Dover Gas Light con mort-l 1905
5
105,000 Sept 1 1925
gage, $500,000 ________ tf [Union Safe DepJ Sc Trust Co., Trustee.
Brattleboro Gas L Co m tg .n tf 1903
5
$66,000 FeD 2 1923
Hooslck Falls Illuminafg O of .............................
71,000
1935
$150.000_______________tf/Colum bla TrustCo., N . Y .. Trustee.
65.000
1930
Hooslck Falls Electric C o l ____ - ......... —
$75,000............................ tf/OId Colony Trust C o., Boston, Trustee.
_____________
64,0001923
Bennington Water Power
& Light Co $100.000
ntf/American Loan Sc Trust C o., Trustee.
Bennington Water Power &l .............................
12,5001929
Light Co $30,000____ n tf/O ld Colony Trust C o., Boston, Trustee.
Bennington Eloct Co $ 1 7 5 ,-1 -------------------80,5001935
0 0 0 ______ ______ - ......... tf [Columbia Trust C o., N . Y ., Trustee.
St Johnsbury El Co 1st M __tf 1909 5 M-S
80,000 Mar 11929
Cascade Light Sc Power C o_ 1905 ________
_
40,000 April 1 1925
Cascade Electric Light
1921 ...............
13,500 Apr 1 1921
Power C o________________ /Union Safe Deposit Sc Trust C o.. Trustee.
B o n d s . — $1,158,000 1st & rcL 5s are reserved to retire underlying bonds.
Additional bonds may be Issued for lmpts. and acquisitions at 80% of cost,
provided net earns, are at least 134 times the Int. charges on all bonds out
standing, lncl. those to be certified. 1st & ref. 6s are red. on or aftor Oct. 1
1923 at 105 and int. A depreciation reserve fund of 5% of gross earns,
commences Dec. 31 1918. V. 102, p. 1988.
N o t e s .— The notes of 1918 are a direct obligation of the co. and are
secured by pledge of 1st & Ref. Mtgo. 5s in an amount 20% in excoss o f
the notes. Red., all or in part, at 100 and int. on any int. dato. Interest
payable in N. Y. without deduction for normal Federal income tax up to
2 % . V. 106, p. 716.
D iv i d e n d s . — 5% yearly has boon paid regularly on pref. stock since 1907.
EARNINGS.— For cal. year 1917 and years ending June 30:
Y ears—
G ro s s .
( N e t ( a fte r T a x .)
B ond In t.
S u r p lu s .
1917-...................... $714,745
$266,606
$152,986
$113,620
1916-17.................. 672,951
288,733
138,174
150,559
1915-16................ - 570,123
270,801
139,942
130,859
ROAD, &c.— Operates 5 miles of track in Brattleboro. Owns hydro
electric plants at Gorham, Brattleboro, Bonnington, St. Johnsbury and
Hooslck Falls and a steam turbine plant at Dovor.
OFFICERS.— Pres..Samuel Insull; V.-Pr., II. L. Olds; Soc.,11. H. Bech
tel; Treas., C. A. Forrest. Gen. offices, Brattleboro, Vt.— V. 95, p. 1750;
V. 98, p. 156; V. 102, p. 1988; V. 106, p. 608, 716, 1037, 1127.
stock and $40,000 additional 1st M . bonds (not issued up to M a y 1918).
STOCK AND BONDS— D a t e . I n t e r e s t . O u ts ta n d in g . M a t u r i t y .
Stock, com ($100)...........................................
$2,025,000 Dec’ 17, I X
Pref. $457,200 ($100) 6% cu m .___
M-S
457,200 Mar’18, 3%
Bost & Wor 1st mortgage, $2,-1 1903 4M g F-A 2,460,000 Aug 11923
500,000, gold ($l,000)c*tf(Interest at American Trust Co., Bos., Trus.
5
60,000 Jan 1 1919
Fram So & Marl 1st mtg . t f / ___
/Interest at American Trust Co., Bos., Trus.
Notes payable Dec 31 1917............................ ..... *120,000 _________
* Of which $70,000 is held by B. & W. Electric Companies.
D iv id e n d s . —On pref. 3 % semi-ann. since Issued. On com. paid 3 %
July 1904: also 3% semi-ann. until Dec. 1908, when 1H% was paid. In
1909, June. 1>*%: In 1910, Jan., 1 X % : in 1911, Dec., 1%; in 1912, June.
134%: Dec., I X % - In 1913. 234%- In 1914.3%. In 1915.234%.
In 1916, 3M%. In 1917. June, 134%: Dec.. 134%.
REPORT.—For calendar year 1917 and years ending Juno 30:
F is c a l
T o ta l
N et
In t. &
P r e f .D i v s .
C om m on
B a la n c e •
Y e a r s — R ev e n u e.
R ev e n u e.
T a xes.
(6%).
D iv id e n d s .
S u r p lu s .
1917-----$855,629 $258,601 $174,992 $28,032 (234)350,625 $4,952
1916-17. 806,180 264,274 170,552 26,832 (2H) 50,625 16,265
1915-16. 801,254 312,921
170,946 23,832 (3 34) 75,938 42,205
1914-15. 738,797 307,671
170,025 23,832 (234) 55,688 58.120
1913-14. 692,477 251,859 167.362 23.832 (234) 55,688
4,977
ROAD.—Owns and operates 83.23 miles of track, a considerable portion
over private right of way, between Boston and Worcester, including an
extension to Natick. Rails. 75-lb. Has 91 cars.—V. 104, p. 1700. 1800.
V. 105, p. 290. 1305, 1308; V. 106. p. 85.
P U B L I C S E R V I C E IN V E S T M E N T C O .
ORGANIZATION, &c.—Organized in Maine in 1909 to hold and to deal
in stocks, bonds, notes and other securities. On Oct. 30 1913 stock was
increased from $2,000,000 each of prof, and common to $3,000,000 each.
V. 97, p. 1289.
STOCK—
A u t h o r i s e d . P a r . D i v . P e r i o d . O u ts ta n d ’g .
L a st D iv .
Common.................$3,000,000 $100..................$2,500,000 Seo text.
Pref. 6% cum......... 3,000,000 100 Quar.-Feb. 2,500.000 May’ 18, 134
BRISTOL, CONN.
T H E B R IS T O L & P L A IN V IL L E T R A M W A Y C O .
ORGANIZATION.—Incorp. Sept. 21 1893 in Conn. F r a n c h is e s per
petual. Road first opened Aug. 12 1895; merged with Bristol Eloctric Co.
Mar. 31 1897; steam heating plant installed In 1902; Torrvvillo branch
opened In 1903, Woodland St. branch opened iu 1906; gas plant installed
In 1906; underground system Installed In 1916. In addition to railway
service, furnishes electric light and power in Bristol, Forestvillo and Torryville; gas in Bristol. Forestville and Plalnvlllo, and steam hoat In Bristol.
In August 1908 a stock dividend of 50% was doclarod, increasing out
standing amount to $375,000. V. 87, p. 96. 414.
In Oct. 1914 stock was increased from $375,000 to $562,500, now stock
being issued May 1 1915. In Oct. 1916 stock was furthor increased to
$618,800, and stockholders were offered the right to subscribe for new
stock pro rata at par. V. 103, p. 1687.
STOCK AND BONDS— D a t e . I n t e r e s t . O u ts ta n d in g . M a t u r i t y .
Stock. $1,000,000 ($100)................
Q-F
$618,800 May 18, 2%
1st mortgago $600,000, gold/ 1905 434 gM-N
510,000 Nov 1 1945
(S500&$1,000)______ ntf/Tntorost at Bristol National Bank, Bristol'
Subject to call at par_____ /Treasurer of State of Connecticut, Trustee.
D iv i d e n d s .—In 1899 to 1909, lncl., 6% per annum; 1910. 7%; 1911 to
1913, lncl., 8%: 1914,10%; since. 8% per annum.
EARNINGS.—For cal. yoar 1917 and years onding Juno 30:
R a ilw a y
R a ilw a y
G a s < E le c .
%
I n te r e s t
Y ea r—
G ro s s .
N e t.
N et.
& T a xes.
D iv i d e n d s . S u r p lu s .
1917---8148,512
$50,170
$85,640
$54,489 $49,502 $35,234
1916-17-.142.919
41,610
94,307
39,707
47,250
48.960
1915-16--119.311
40,464
54,728
30.500
45,000
19,692
1914-15-.105,317
30,901
53,614
38,602
30.000
15,943
ROAD, &c.—Oporates 13.74 miles of track laid with 56.60 and 72-lb.
T-rail connecting Bristol with Forestville, Plainville, Lake Oompounce and
Terryville. Standard gauge, 34 cars, 3 snow plows and 1 work car.
OFFICERS.—Chairman of board, Chas. II. Tennoy; Pros., A. B. Tonnoy; V.-P., D. E. Manson; Sec.-Treas., Morris L. Tiffany, Bristol, Conn.;
Asst. Treas., E. A. Bradloy. Gonoral Managers, Chas. U. Tenney & Co.,
Boston, Mass.—V. 97. p. 1662; V. 98, p. 154, 1535; V. 103, p. 1687.
I
Ma y , 1918.]
ELECTRIC RAILWAYS
BRISTOL, TENN.
13
$8,373,234, and for add’ns, exts. & impts. o f existing lines, 830,458,769'
a total o f 849,981,311. T ho 3d track on the Fulton St. lino between
.Manhattan Jet. and N ostrand A ve. was placed in operation D ec. 27 1915
On D ec. 23 1916 the entire third-tracking o f the Broadway Elevated was
placed in operation between M a rcy A ve. and M anhattan Jet. Operation
o f the Liberty A ve. elevated extension was begun Sept. 25 1915. On M a y
27 1917 the elevated extension to Jamaica was placed in operation between
Cypress Hills and R ichm ond H ill. Operation o f the M etropolitan A ve
trolley lino extending from D ry H arbor R oad, Queens, to Jam aica A v e .’
was begun Sept. 25 1917. T he new Culver rapid transit line is expected
to be put into operation about July 1 1918. T he N ew Y o rk M unicipal
R y . Corp. was granted an extension o f tim e to July 27 1918 within which
to com plete construction and begin oper. o f additional tracks on the Fulton
St. line.
See N . Y.. M unicipal R y . C orp .— organized to carry out com p a n y’s
agreement with city— on a subsequent page.
As to financing o f the new construction work b y the B . R . T . see Secured
BROOKLYN, N. Y.
G old Notes In table below , and text relating thereto, and also V . 94 n 1694
Remaining $20,000,000 notes were sold in O ct. 1915. V . 101. p. 1188.
**
B R O O K L Y N R A P ID T R A N S IT — ( See M a p s, pages 14 and 15).
, T h e B r o o k ly n C ity R R . C o . Is held under a 999-year lease dated F eb. 14
1893, guaranteeing all fixed charges, organization expenses, taxes and 10%
O R G A N IZ A T IO N .— Organized Jan. 18 1890, per plan in •'C hron icle”
V. 60. p . 1145. to succeed to the property o f the old Long Island Traction d iv . on $12,000,000 o f stock (par $10). T he lease is nom inally to the Bklyn
C om pany, foreclosed, a syndicate headed b y the late ex-G overnor Flower Heights R R . C o ., but the Brooklyn R apid Transit C o . owns the entire cap
having then bought con trol. Is not a railroad corporation, but woe or ital stock o f the B rooklyn Heights C o . In 1898 the Heights C om pany
ganized under the Business C orporation law o f N ew York to hold the stocks leased the Brooklyn Queens C ounty & Suburban R R . T he lease was re
and bonds o f railroad com panies and to aid In tho construction and equip newed year by year, rental being fixed charges, taxes and organization ex
ment o f railroads. On June 7 1917 G o v . W hitm an signed the Thom pson penses. On July 1 1901 the B . Q . C . < S. began operating separately again
&
b ill, m aking possible tho consolidation o f tho holding com pany and its On April 1 1899 the Heights C om pany tem porarily leased the Nassau E lec
various subsidiaries into a single public utility corporation. V . 104, p.2342. tric R R . Later permanent leases were m ade, but on June 30 1904 presuma
A SS E T S.— The following is a statement o f the stocks and bonds owned bly in consequence o f a decision (V . 79. p . 102) com pelling the Issuance o f
transfers, the lease o f the Nassau E lectric R R . was canceled.
b y the Brooklyn R apid Transit system D ec 31 1917.
T h e Brooklyn Heights R R . in April 1899 leased for the period o f 999 years
S tocks*
*200 000 tho Prospect Park & C oney Island R R ., tho New Y ork & C oney Island R R
Entire capital stock B rooklyn Heights ItR . C o . (p a r)__________
Entire capital stock B kln. Q’ns C o . & Suburban R R . C o . (p a r)- 2 000 000 and the Prospect Park & South B rooklyn R R ., but the leases o f these co m
Entire com . stock o f the Nassau Electric R R . C o ., par_____
8'500 000 panies wore assigned in M arch 1907 to South Brooklyn R y..w hich had been
acquired b y purchase in Feb. 1902. V . 74, p . 479. In July 1912, how ever
63,943.75 shares out o f 65,000 shares o f the 4 % cum ulative pref”.
’
’
stock o f Nassau E lec. R It. C o ., par__________________________ 6 394 375 the South B rooklyn R y . acquired 495 out o f 500 shares o f P . P . & So
B klyn. stock and 820 ou t o f 1,000 shares o f N . Y . & O . I. (Y . 95 p 4 7 )
47.859.85 shares out o f 50,000 shares o f the 5 % non-cum ulative
’ ' ’
pref. stock o f the N ew Y ork Consolidated R R . C o ., par____ 4.786.985 and In O ct. 1915 was auth. to purchase the P . P . & C . I. R R . ( v ’ 101 n ’
1464). In M a y 1918, how ever, this transaction was still pending. T he
134.308.31 shares out o f 139,000 shares o f the com m on stock
o f the N ew York Consolidated R R . C o ., p a r________________
13 43 0 831 South B rooklyn R ailw ay owns the double-track road extending from N ew
Entire stock o f Coney Island & Gravesend R y . C o ., par______ I "
’350 000 Y ork B ay, near 38th S t., B rooklyn, to 38th St. near 9th A v e ., B rooklyn
and in June 1907 increased its stock from $150,000 to 8500.000
*
647.87 shares o f Brooklyn R apid Transit C o ., par____________ “
«4 787
E ntire capital stock o f South B rooklyn R y ., par_______________”
500 000 P u r c h a s e o f C o n e y I s la n d A B r o o k ly n R R .— I n D ec. 1913 the subsidiary
C oney Island & Gravesend R y . received permission from the P . S. Com m
9,800 shares out o f 10,000 o f the American Railway T ra ffic Co”.
’
(owned b y Transit D evelopm ent C o .), par____________ _____
gan 000 to purchase $2,637,000 o f the $2,983,900 outstanding stock o f the C oney
&
*
600 000 Island < B rooklyn R R . V. 90, p. 1020, 1088: V . 97. p . 1897.
Entire capital stock o f tho Transit D evelopm ent C o ., par_____ I I
On M a y 21 1904 the Brooklyn Heights Railroad C o . signed an agree
600 shares o f the Bridge Operating C o ., par_________________
50 000
2,0 0 0 shares o f N . Y T M unicIpal C orp .l p a r I I . I I I _ I . I I I .......
200 000 ment with the city for operation o f trolley cars over tho new W illiamsburg
Surfaco cars began to cross this
925 shares out o f 1,000 shares o f N . Y . & C oney Isl. R R . C o . I I
92i500 B ridge. See V. <8, p . 2013, 2386.
560 shares out o f 500 shares Pros. 1’ark & South B k ly n .R R .C o _
50.000 Bridge in N o v . 1904. V . 79, p. 2084. Later the Bridge Operating C o
26,840 sharos out o f 29,839 shares C on . Isl. & B klyn. R R _____
2.684,000 was form ed, with $100,000 capital (o f which one-half is owned by the N ew
500 shares B klyn. & N orth R iver R R . C o _____________________
50.000 York R ys. C om pany) to operate local service on the bridge. See V 79
lOO shares D eK alb A ve. & N o . B klyn. R R . C o ________________
10,000 p. 626. T hrough elevated train sorvice over the Williamsburgh Bridge "was
2,500 inaugurated Sept 16 1908. On A ug. 31 1915 tho c o n tr a c t! between the
? § « ? re8 C oney Island & B rooklyn Term inal C o _______________
100 shares B ’w ay Subway & H om o B or. C ar A d v . C o __________
10.000 com panies operating over the W illiamsburgh Bridgo and the city , nam ely
B r ^ k ly n Heights R R ., the Bridge Operating (So., the C oney lsland l
27 shares Prospect Park and C oney Island R R . C o .____________
2,700
B rooklyn R R . and the N ew Y ork R ailw ays, as assignee o f tho N ew York
_ _ _ _ __ .
B o n d s.
$40,857,678
C ity Railways were terminated b y Bridge Coram . K racko, but operations
•1st M 5 % bonds B klyn. Queens C o. & Sub. R R . (p a r)_________ $2,000,000 aro being continued at the request o f the city under temporary Derm its
1st con M B klyn. Q’ns C o. & Sub.(ow ned by B klyn. H ’ ts C o .) .
50.000 pending negotiations for a new contract. On N o v . 15 1912 the Appellate
• lstm ortgage 6 % bonds B rooklyn C ity R R . (p a r)______________ 1,027,000 Division o f the Supreme C ourt, First D ep t., affirm ed the order o f the P S
•Refunding gold m tge. 4 % , Brooklyn C ity R R ________________
925,000 from mission reducing the faro charged over the Williamsburgh Bridge from
♦Gold 5 % 'bonds Brooklyn Rapid Transit______________________
30,000 3 to 2 cents, or three tickets for 5 cents. V . 95, p. 1402 1471
R e f m tg 4 % bonds B rooklyn R apid Transit C o ________________ 21,089,000
D e c i s io n i n S u it A g a in s t B r o o k ly n C ity R R .— On June 8 1912 the A ppellate
1 701 000 D iv . o f N . Y . Supreme C ourt, 2d D ep t., handed down a unanimous decision
R ef m tg 4 % bonds B . It. T . (owned by Nassau E l. R I t .) _____
Consol m tg 4 % bonds Nassau Elec ItR _______________________
1.161.000 affirm ing, to the extent o f $1,740,258 principal (w ith int. from M arch 3
Consol m tg 4 % bonds Sea Beach R y __________________________
050,1X10 1910, amounting to $1,616,680: total. $3,350,938), tho judgm ent awarded
Jam aica & Brooklyn m tge. bonds____________________________
8 000 by the lower C ourt (V . 90. p . o58; V . 80, p .1 1 7 4 ; V . 7 0 , p. 841) in the suit
N . Y . M unicipal R y . C orp ora tion ____ ___________________H I 57,736,’oOO (begun In April 1900) o f Brooklyn Heights R R . against the B rooklyn C ity
Coney Island & Brooklyn first consol, m ortgage_______________
13,000 R R . to recover m oneys which the Heights C o . claimed should have been
C oney Island & Brooklyn consol, m ortgage_________________
732.000 expended b y the lessor in fulfilm ent o f the terms o f the lease o f Feb 14 1893
Brooklyn C ity & N ewtown m ortgago........................................ H U
7l000 but m odiflod tho judgm ent o f the lower C ourt by excluding Interest le a v e r
■ 1 "—
S87 788 000 the am ount o f the m odified judgm ent S I.740.258. V . 94 0 1565 1625*
•The entire amount o f B . Q. O . & Sub. R R . 1st 5s and B klyn. C ity R R . B oth parties to the litigation then appealed to the C ourt o f Anneals’
1st 5s: also $125 000 out o f the $925,000 B . O . R R . ref. 4s held, and $25,000 B rooklyn C ity R y . in July 1910 reduced its dividend to 2 % quar l 4 o f 1%,
being retained quarterly and set asido in a special fund. V . 91 d 93
ou t o f the $30,000 B . It. T . gold 5s and $250,000 B . R . T . ref. m tge. 4s hold
com poso guaranty fund for perform ance o f B rooklyn C ity R R . C o .’s lease’ O ct. 23 1913 agreement o f settlement was executed by the Brooklyn ’ll eights
R R . and the Brooklyn C ity R R . providing for the paym ent o f $1 650 000
New Subways and Extensions.— An agreement was reached In M a y 1912
he
as to how tho routes o f the new dual subway system in lower M anhattan o f which S900,000 was paid in cashf on N o v . 1 1913 a n d t 5 % balance w m
quarterly installments o
int.
should be apportioned between the Interborough and B klyn. R apid Transit, payable in year ending June 30 1914 $50,000 with 348). at Paym(see annual
for
in Y.
ents how
and tho C ourt o f Appeals at A lbany having on June 29 1912 affirm ed the reportwere anticipated and the last 8200,000 99, p.paid during the 6 m onths
were
decision or Justice Biackmar (V . 94. p. 1057) holding to be constitutional ever.
the terms o f the proposed contracts with the Interborough and B . R . T .
fuB lO ^ d iv id e n d 15
In July
the c o ’ resum cd tho paym ent o f the
.oi-Hial contraeta were drawn up b y the P. S. C om m , and were signed on
The T
C o . was organized
under the
M ar. 19
v * 96, p . 862. See caption “ R apid Transit in N ew York Business r a n s it D e v e lo p m e n,t with $25,000 capital, in April 1903 exclusively
Corporation Law
and is owned
P 1384, 1449, 1568: V . 95, p . 48, 111, 237, 1040: V . 96,
_"
the interest o the Brooklyn
to
p. 63, 136, 488, 716, 864. T h e new subway lines, built and to bo built Inanufacture andf sell power andRapid oTransit C o . It is a ith o rS e d On
m
to d general contracting work
jo in tly b y the B rooklyn R apid Transit and tho city , aro as follows:
M arch 1 1907 special arrangement was m ade by which the com pany furnishes
Subway line traversing the Borough o f M anhattan from the Battery power and takes charge o f the maintenance and repair o f all the railway
to 59th s t ., m ostly on B roadw ay, and connecting b y tunnel under the East properties in the Brooklyn Rapid Transit system , including their ermlnRiver with subway lines in B rooklyn, with rights over the B rooklyn M an ment V. 84. D. 569. In June 1907 capital s t!c k was i n c r S to $ 5 0 ® L
hattan, W illiamsburg and Queensboro bridges. (The Board o f Estim ate in T h e Transit D evelopm ent C o . In p e c . 1913 acquired a tract o f about
July 1915 decided to make tho connection with the Queens lines b y tunnel 90 acres in the Gravesend section o f C on ey Island. V 98 d 72
T he
under the river in s tea d ofov erth oQ u oon sb oroB rid g e.com . V . 101 p . 1554. requirement to supply a power-generating plant for the operation o f rapid
C ontract for tunnel awarded in Sept. 1910. V . 103, p. 1033. It is ex transit lines having been suspended b y the city , arrangements have been
pected to bo com pleted in 1919. V . 106, p. 1795. Operation o f the m ade with tho Interborough R apid Transit C o . and with the Transit D e
new Broadway Subway from Union Squaro, M anhattan, to C oney velopm ent C o . for purchasing power in M anhattan and B rooklyn, respec
Island via tho Canal Street subway and Fourth A vo. subw ay, B rooklyn
tively. The Transit Developm ent C o . is accordingly largely increasing
was begun on Sept. 4 1917. V . 105, p. 998, 1616. Operation o f the its generating capacity.
6
Special Franchise Tax Settlements.— For decision allowing for obsolescence
S n 'j a n . 5
U19l8y. V 10A P ^ f 001 rlmCS SC,Uar° 10 *t0Ct0r S t’ was In fixing special franchise tax, see V . 91. p. 1511. For settlement o f taxes
(6) Centre St. loop, connecting the different bridges and extended through for years 1907-1912, inclusive, see V . 102, p. 1162.
Nassau and Broad S ts., M anhattan, to a connection with tho lower East
U n iv e r s a l T r a n s fe r s .— On M a r. 27 1914 Public Service Comm ission issued
K,y^ra i'unn^Vancl tf?°, 4th A ve. subway in B rooklyn, with extensions to an order providing for a universal system o f transfers am ong surface
80th St. and Coney Island. T w o tracks in the Centre St. loop were placed linos in B rooklyn, and this was accepted b y the several operating com panies
in operation A ug. 4 1913 (V . 9 7 , p . 297) and tho other tw o were placed in In tho B rooklyn Rapid Transit System , and became effective June 1 1914
operation from 11mo to tlino during tho year 1914-15. T ho reconstructed T he now o^der made a total o f 1,008 transfer points, as against 721 before
Sea.
A
10„ITa's P*ac® In operation M a y 1 1916 from Sixty-first Street tho order becam e effective. V . 98, p. 911, 1070, 1692. In M a y 1917
d
and Third Avenue to C oney Island. The Fourth Avenue Subway was application was m ade to the P . S. C om m , for a m odification o f this order
form ally oprned June 22 1915 to S ijty -flfth Street. Tho extension and for auth. to charge a m oderate sum fo r transfers Issued on the com
to 86th St. was placed in operation Jan. 15 1910. On Juno 24 1916 tho panies’ lines, except in the case o f continuation tickets. See V 104 p 2341
N ew Utrecht A ve. elevated branch o f tho Fourth A ve. subway was placed
Application to Issue Securities.— In Feb. 1918 applied to the’ Capital
in operation as far as 62d S t.; on July 29 1916 lino was extended to 25th Issues Com m ittee at W ashington, D . C ., for auth. to issue securities to
A v e . and to Coney Island connection on July 21 1917. Sinco early in meet tho $57,735,000 secured notes which mature in July 1918. V . 106,
1918 trains over both tho W est E nd and the Sea Beach lines aro run from p . 828.
Times Square at 4_d Street all tho way to C oney Island.
A d v e r t i s in g . — On the expiration o f Its contract with the Inter-C ity Car
(C) Subway line extending from 0th A vo. and 14th S t., M anhattan
Advertising C o. on April 30 1915, the com pany decided to handle the adver
across M anhattan, under tho East R ivor, to N orth 7th S t., B rooklyn , and tising, vending and news privileges Itself, and on M a y 21 1915 the B road
thenco part subway and part elovated through the Eastern d istrict b y M et way Subway and H om e Boroughs Car Advertising C o. was incorporated to
ropolitan, Bush wick, Johnson and W y ck off Aves. to Join tho Cypress Hills carry out tho plan. Joseph P . D a y is Pres. V. 100. p. 1831
lino. Contract for tunnel under East Rivor was signed Feh. 29 1910.
A t l a n t i c A v e . F r a n c h is e .— In Feb. 1910 M ayor M Itchel refused to sign the
Construction is oxpected to bo com pleted in 1919. V . 106, p 1795
franchise for a line on Atlantic A v e ., Insisting upon the paym ent o f the
Brighton B ^ h R R .n B rooklyn connecting M anhattan Bridge with tho franchise tax from which the co . wished to be absolved. Differences also
arose over the Initial paym ent and tho duration o f the franchise
In add ition to tho a b o v o , tho co. agreed to build several extensions (see V . 101, p . 772).
as well as third track and m ako additions and improvem ents to its then
F a o u r a b l e D e c i s i o n . — On O ct. 2 1915 Supreme C ourt Justice Erlanger
oxistlng linos, most o f which work has already boon com pleted.
See dismissed the city s suit against the B rooklyn Queens C ounty & Suburban
report for year ending^ Juno 30 1917 In V. 105, p. 399; also under “ R apid R R ., seeking to collect $S29.578 for the operation o f tho c o .’s lines in B rook
Transit in Now York, In V . 104, p. 257; Y . 106 p 87 296 1169
'I'lm lyn and over the B rooklyn and Queensboro bridges, being 5 % (8361 75.31
cost o f £ °a®)£uction to tnr?6Cli yci°f ,Im,us *n tbo Dual Rapid Transit Systom o f the com p any’s earnings during 1901 to 1907, plus a penalty o f $467’ 258
under contracts Nos. 3 and 4 (Inc), both tho Intcrboro and II. R. T . sec on tho ground that the city is not entitled to m ore than its franchise revetion s), now under construction, was originally estimated at$ 164,294,079 nucs and bridgo tolls.— V 101, p . 1271. This decision was affirmed b y
(not incl. allowances for tho expenses o f tho l*. S. C o m m .), and tho total tb « Appellate D ivision. Case is now pending in tho Court o f Appeals.
cost o f construction and equipment to the B . R . T . at $65 000 000 hiit,
W a g e I n c r e a s e s . — V. 103, p. 843; Y. 105, p . 2271.
11
bccauso o f additions to the work and increased costs duo largely to war
M o r e C a rs O rd er e d . — See under “ Equipm ent’ ’ below.
conditions these amounts will bo exceeded. T ho total cost o f the whole
M o r tg a g e s o f C o n s titu e n t C o m p a n ie s to S e c u r e A d v a n c e s b y B r o o k ly n R a p id
undertaking was1 estimated. at,$330,000,000 but is now expected to run up
to about 8400,000,000. On tho B . R . T . systom about 99 miles o f now T r a n s i t . In M a y 1907 the N ew York State R R . C om m , consented to tho
track had been added up to Jan. 1918 to tho 115 miles in operation In Sea Beach R y ., the Canarsie R R . and the South B rooklyn R y making
m o r tK a g e fi o f $2,000,000, $2,000,000 and $4,000,000. respectively, to secure
1913, tho new facilities representing an investment o f over 884 000 000
issued b those com panies to the
o f which 854,000.000 b y tfio city and 330,000.000 b y tho to . S’oo u f f i certificates o f indebtedness advanced yfor additions, betterments Brooklyn
& c. In
“ R apid Transit in N . Y . in V . 106, p. 296, 1345, 179,5
As o f Juno 30 Rapid Transit for m oneys
June 1907 Brooklyn Union Elevated authorized a m tge. for $20 000 000
1 91 /, the N Y . M unicipal R y . C orp. had expended in contribution to
$5,000,000 for same
city-ow ned lines 811,119,308; on account o f equip, o f city-ow ned lines. and the Nassau Electric fordenied application for purpose: but inf July 1908
Public Service Commission
the approval o these latB R IS T O L T R A C T IO N C O .
Sold.— B . L . D ulaney, form er President o f the road, and his associates
on Sept. 17 1917 purchased the property at foreclosure sale for $70,000.
Operation o f the city linos was discontinued and it is reported that tho cars,
tracks and other equipment will bo disposed of. It is said that the llolston
Valley line, however, will continue operations. V . 105, p. 1801. The
following bonds were outstanding against tho property:
BON DS—
Date. Interest.
Outstanding.
M aturity.
M ortgage $300,000 ($1,000)1 1911 5 A -O
5192,500 Sept. 15 "41
callable at 105____________ JU. S Trust C o .. W ashington. D . O .. Trustee
P R O P E R T Y .— 15.3 miles standard-gauge electric line in Bristol and
between Bristol and Big Creek Bark, on tho llolston R iver. 11 passenger,
1 freight and 1 flat car.— V . 104, p. 1590: V. 105, p . 715, 1206, 1801.
14
ELECTRIC RAILWAYS
[Vol . 106
ELECTRIC RAILWAYS
— y*' Schuy Ur
^
.Uw^.
• toT
f
Throgs J 'eek
S
IP R ;
NOT
WEST F R S
AM
Little B ay
Crotona.
(orris Cove
J rtm
la ol.l
vMTSOE
WIEtN
Powell
yOLGiO N
CLEEPi T
' r a wySu
B o dn'u
8 BOHR
. RTE
t0Tx
3,w
f l u s h in g
[A0I8
RNAUM
'
Bowery
VtAO
RtM^
R H 1B A H
X' E Q v
W ° S 1.
A0 8
,
**
LJidv'r
7^
Cedar drove
Ty C w *
L V
4 £ iP $
( O O AH IHS
CRN EGT
JMIA
AAC.
^'aowav^
RT
EMUS'
LHRT
' R AWY
B O CA
'QtNc
'LEfJ
NEWTOW
^ e»Mui v S
j V lM l j J J | f
|' R V N W O
.AE3OO
FO E T H L S
R S IL
sUEW.
^UTNS. \ / O L V O
ASI T
fETT
lES.
tooi*
voso'
jWOODSIOEo^
>vT4 - | I
AN_, 7 i
^WINFI L , /
ED/"
/vA J N T O
UCIN
9 frf5~~
*4
\Culvaxy y
OUNTON
R CH O NQ^hTV
I M.
l
/Si.Jthus C
t
NSA^EGT
ASUHIHS
HUNT R P I T
E S ONi
\«sf^r'V ,/
V
iAPT
MSEH
^MORRIS P R '
AK
'Lutheran Can.
^fWOODMAVEf
^REPIT
GENON
SozoneX park
/ i o \N
/t
//IfCarm Ct
J
tl
;p5lE
«TfS
: WLIMBR
- ILASUG
'QEUT
AUDC'
. illiamsburg
W
- ■
jlA v v
fOO ^
[PAWy
SQ04j
'OK
YR
SulTNS.
O T
J ALNI,
TATC
'jrr--"
j
6VB
0ET
PABS;
LTUH
..Pro spent
1
CNRI
AASE
/SCx,
^EGN
BRE
^BEa'h^
c
Greenwood
Cemetery
KNIGO
ESNTN
'
clatlanos
Little y \
T
horough
f7P R —
AK
PHVLE
AKIL
PIT
ON
'apleton
m
ROE
lG
NEW
BIHO
RGTN
S.ERE
TGOG
S E P H A B)
HESED A
JUFORTH
"AITN
HMLO
0’ f £ rcT8’6
, -V
—
HURStJ
-R V 8 N
GAFEO
rW A
SALTI
TPEO
MANHATTAN B A H
EC
GAEED
RVSN
' BAH
v EC
Jtockaivay Pt.
'RGTN B AH
BIHO EC
CITN
LFO
ROS
EBANK
FO T WADSWORTf
R
M A P
B’
orton Point
arrochar'
S H O W I N G
S UTH 8 A H
O
EC
RAPID TRANSIT
LINES
THE BROOKLYN RAPID TRANSIT SYSTEM
16
ELECTRIC RAILWAYS
ter two mortgages. See particulars V. 87, p. 224. N o bonds will be Issued
under any of these mtges., 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 f
irst refunding mtge. V. 84, p. 1181. 1246, 1550.
F a r e s . — In Mar. 1918 traction Interests of N. Y. State headed by T. S.
Williams, Pres, of this co., and Theo. P. Shonts of tho Interborough
Rapid Transit Co., submitted to Gov. Whitman for approval a proposed
b l fixing a 6-cent faro on traction lines throughout the State, beginning
il
April 1 1918 and continuing 6 mos. after tho war. The proposed b l
il
would give tho P. S. Com m . auth. to review such fares after they were
fixed. See under “Rapid Transit in N. Y.” in V. 106, p. 1345. Seo also
V. 106, p. 2 1 2 2 .
S tock I n c r e a s e . — On Jan. 3 1913 Increased i s auth. stock from $45,000,000
t
to $90,000,000. The new stock was Issued from time to time up to July 1
1914. exclusively for the conversion of 4 % bonds of 1902. V. 96. p. 61.
In Feb. 1917 applied to P. S. C o m m , for auth. to Issue $299,643 addi
tional Brooklyn Queens Co. & Suburban RR. bonds.
N e w M o r tg a g e P r o p o s e d . In view of tho impossibility of further financ
—
ing by means of 4 % bonds and the approaching maturity of the secured
5 % gold notes, to provide for which i m a y bo desirable to have available
t
additional bonds for collateral to any extension thereof or for any loans
negotiated for payment thereof in whole or in part, a special meeting was
called for M a y 23 1918, at which stockholders were to vote on authorizing
a new mortgage for 3150,000,000 to take tho place of tho present 1st & re .
f
mtge. of 1902, to which i will be generally similar in amount, character and
t
scope. It i proposed to uso tho new bonds as follows: ( ) S7,OOO,0OO for
s
a
retirement of bonds issued under B. R. T. mortgage of Oct. I 1895:
( ) $53,033,000 for taking up, exchanging or retiring bonds of constituent
5
cos.; (c) $27,007,000 to replace B. R. T. refunding 4s; and (d) $62,960,000
for other corporate purposes. Interest rate and redemption privilege
for new bonds will bo fixed at time of issuance. Such of the bonds as may
be determined by the directors may bo made convertible into tho com
pany’ stock. For further details see V. 106, p. 1900.
s
STOCK A N D BONDS—
D a te . In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $90,000,000 ($100).
Q-J
$74,455,159 Jan T 8 . 1 k
Brook Ran Tr 1st rof ratge.f 1902
4 g J-J
z3,159,000 July 1 2002
$150,000,000, gold-c*&rtfi Central Trust Co., N. Y., trustee. Coupon
I bonds ($1,000): registered ($1,000. $5,000)
Brook Rap Tran gold mtge./ 1895 5 g A-O
16,970,000 Oct 1 1945
$7,000,000--------c*ntf(d Int. at Central Tr. Co., N. Y., trustee.
B R T secured notes $60,000.-1 1912 5 g J-J
57,735,000 July 1 1918
000 ($1,000), gold___ c*tf(Interest at Central Trust Co.. N. Y., trustee
Brooklyn City RR—
Refund mtge, $6,925,000/ 1906
4 g F-A
*925.000 M a y 1 1956
($1,000)--------- ntflLong Island L Sc Tr Co, Bklyn, trustee.
1st consol M.$6.000,000ntf 1891 5 J-J
t/4.373.000 July 1 1941
Brooklyn Heights R R first/ 1891 5 A-O
250,000 Apr 1 1941
mortgage, $250,000 --- tfllnt. at People’ Tr. Co.. Brooklyn, trustee.
s
Brooklyn Queens Co & Sub/ 1894
5 g J-J
el,500,000 July 11941
first M, $3,500,000 .ntflGuar. Trust Co., N e w York, trustee.
First consol M , guar p & i 1894
f
5 g M - N m2.834,000 July 11941
(end), $4,500,000__ ntflCentral Trust Co., N e w York, trustee.
Jamaica & Brook R R first/ 1889 5 g J-J
/232.000 Jan 1 1930
mortgage, $240.000__ tflCentral Trust Co., N e w York, trustee.
Brooklyn Union Kiev 1st M,/ 1899 5 g F-A
16,000,000 Feb 11950
guar. $163)00,000_____ tf(lnt. at Central Tr. Co., N. Y., trustee.
Kings Co Elev f
irst mtge,/
1899 4 g F-A
7,000,000 Aug 11949
$7,000,000($l,000).g(gu)ntfllnt. at Central Trust Co., N. Y., trustee.
Nassau El R R Co cons M ( 1898
4 g J-J p 10.347,000 Jan 1 1951
bonds ($1.000),$15,000,-1 Guaranty Trust Co., N. Y., trustee. Bonds
000__________ c*&rtf Iguar. by end. by Bklyn. Heights RR.
First mtge bonds (closed) tf| 1894 F A-O
660,000 Apr 11944
1Hamilton Trust Co., N. Y., trustee.
Atlantic Ave. gen mortgage/ 1891 5 g A-O
c2,241,000 Aor 1 1931
gold (closed)______ntflBrookiyn Trust Co,, trustee.
Atlantic Ave Improvement,/
1894 5 g J-J
220,000 Jan 11934
gold (closed)_______tflCentral Trust Co., N e w York, trustee.
B. B. & W. E. general/ 1893 5 g A-O
121,000 Oct 11933
gold, $121,000______tf (Franklin Trust Co.. N. Y.. trustee
N Y M u n Ry Corp 1st Mtgef
1912 5 g J-J
n2,205.OOO Jan 1 1906
$100,000,000 ($1,000 andjlntcrest at Central Trust Co., N e w Vork,
$500) gold-------c*&rtfl Trustee.
Coney I l Sc Bklyn 1st consol/ 1898 4 g J-J
s
sl,987,000 July 1 1948
M $2,000,000 gold--- ntf (Mercantile Trust Co., N e w York, Trustee.
Consol mortgage $10,000,-/ 1904 4 g J-J
*1.500,000 Jan 1 1955
000 gold ($1,000)___ c*tf (Mercantile Trust Co., N e w York, Trustee.
Bklyn City & Nowtown/ 1889 5 J-J
hi,993,000 July 1 1939
1st M $2,000,000__ ntf (Mercantile Trust Co., N e w York, Trustee.
Real estate mortgages____ ____
5%
438,062 _________
R en ta l p a y m e n t s i n a d d itio n to p a y m e n t o f f i x e d c h a r g e s —
Brooklyn City RR. stock. $12,000,000, 10% Q.-J. 15, 999 yrs.$l,200,000
Prospect Park & Coney Island R R .. yearly rental_____________
45,000
c Atlantic Avenue general mortgage 5s of 1931 wero subject to call In
1909. but many of them (how many I not known) have beon stamped,
s
releasing them from the liability to c l .
al
d The Central Trust Co. of New York was trustee of this mortgage until
Oct. 1903, when the Colonial Trust Co. (since consolidated with the Trust
Co. of America—the latter being mergod into Equitable Trust Co.) was
substituted.
e Not Including $2,000,000 hold by Brooklyn Rapid Transit Co.
/ Not Including $8,000 owned by B. R. T. Co.
f Not including $7,000 held In treasury.
t
k Not including $732,000 owned by B. R. T. Co.
1
Not Including $30,000 owned by B. R. T. Co.
m Not Including $50,000 owned by B. R. T. Co.
n Not Including $57,735,000 owned by Brooklyn Rapid Transit Co.
p Not Including $1,161,000 owned by B. R. T. Co.
s Not including $13,000 held In treasury.
x Entire amount owned by Brooklyn Rapid Transit Co.
y Not including $1,627,000 owned by B. R. T. Co.
i Not including $22,850,000 owned by B. R. T. Co.
S to c k . In the reorganization of the Long Island Traction, the old $30.
—
000,000 stock paid an assessment of $10 per $100 share, the old stock being
reduced to $20,000,000, and $7,000,000 of 5% bonds being authorized,
against $3.000,OoO of Bong Island Traction.
D iv id e n d s . — First div., 1%, paid April 1 1909: July, 1%: Oct., 1%.
In
1910. 4)4%: In 1911 and 1912, 5%; In 1913, Jan.. 1>*%: Apr.. l X % ; In
July Increased rato to 1)4%: same rato quar. to and incl. Jan. 1918. April
1918 div. deferred (Seo V. 106, p. 1125, 1576).
I n t e r e s t o n B o n d s . W h e r e P a y a b le . — Interest on the Brooklyn Rapid
Transit mortgage of 1902 for $150,000,000 and the two Elevated Issues I
s
payable at the Central Trust Co.; on the Brooklyn City RR. refunding bonds
at company’ office; on the Nassau Electric bonds. Including Atlantic Avos
nueand West Endlssues, at the Central Tr. Co., N. Y.; on the Brooklyn
Queens County & Suburban mortgages and the Jamaica Sc Brooklyn f r t
is
mortgage at tho Brooklyn Trust Co., Bklyn. On the B. R. T. secured
notes of 1912 and on N. Y. Mun. Ry. Corp. 1st M . bonds at Central Trust
Co. Int. on a Coney I l & Bklyn. bonds I payable at Central Trust Co.,
ll
s.
s
N. Y. On Bklyn. Heights RR. 1st M . at Peoples’Trust Co., Bklyn.
S ec u r e d N o t e s . — Tho notes are secured by pledge of equal amount of
1st M . 5s of tho N e w York Municipal Ry. Corp. and $10,000,000 B. I . T.
t
conv. 4 % rof. bonds. Proceeds of notes are deposited as socurlty for notes
until expended. The notes were conv., $ for $, Into 1st M . 5s of the Munici
pal Ry. prior to Jan. 1 1916, slnco which dato thoy are red. at co.’ option
s
at 101 and Int.on any Int.day on 90 days’ notice. $2,265,000 of the notes
were converted Into N. Y. Municipal Ry. Corp.'s 5 % bonds. See V. 94. p.
1964, and V. 101, p. 1188. A special mooting was called for M a y 23 1918
at which tho directors hoped to bo ablo to presont a plan for taking care
of theso notes at maturity. V. 106, p. 1900.
M o r tg a g e f o r $150,000,000.— Stockholders authorized March 20 1902
f
irst refunding 4 % gold convertible bonds for $150,000,000. $59,179,000
are reserved to retire bonds issued, or to bo issued, under mortgages of
constituent companies and tho $7,000,000 Brooklyn Rapid Transit 5s,
and the rest for improvements, additions and acquisitions, as needed
from timo to timo. Tho mortgago provides that a fund of $5 ,
000,000
In bonds or their proceeds bo at a l times at tho disposal of tho company
l
for tho purposes mentioned. Seo V. 74, p. 377. As this fund i re
s
duced for any of the purposes authorized, more bonds m a y bo authenticated
by trustee and delivered to the company on I s order. These bonds were
t
convertible into stock, par for par, before July 1 1914, and $29,619,000 were
so converted. They are subject to call on any Interest day until the year
2000 at 110 and Interest: after that at par and interest. See listing applica
tions In V. 81, p. 1856,1857, for l s or securities pledged for tho bonus; also
it
listing applications In V. 82, p. 517: V. 83, p. 1122: V. 85, p. 1523: V. 86.
p. 923: V. 90, p. 786.
[Vol. 106
B o n d s . — Of the $7,000,000 50-year gold 5s of the Brooklyn Rapid Transit.
$3,000,000 went to stockholders for assessment. For description of prop
erty covered by the mortgage, see V. 62, p. 1138. See also V. 67. p. 904.
Brooklyn City RR. mortgage of 1891 I for $6,000,000 and i a r r lien
s
s i st
on the old Brooklyn City road and a consolidated lien on the lines acquired
by consolidation In 1890. Of the $6,000,000 Issued. $4,373,000 are In the
hands of the public and the balance I held In the guaranty fund. The
s
bonds are subject to c ll.
a
Stockholders of the Brooklyn City RR. July 10 1900 authorized a new
mortgage for $6,925,000 to provide for refunding. V. 82, p. 1437. These
bonds are subject to call at 11 0 and Interest.
Tho total authorized Issue of f rst consolidated mortgage gold 5s of the
i
Brooklyn Queens County Sc Suburban RR. I $4,500,000, of which $1,616.
s
000 are reserved for extensions, on which they will bo a f r t lien. Of the
is
$2,884,000 outstanding, $2,255,000 In 1898 were endorsed with the guar
anty of the Brooklyn Heights RR. Co. as to prin. and Interest, and In Jan.
1899 provision was made for guaranteeing the remainder upon the payment
of $10 per bond. Both B. Q. O. & 8 .loans are subject to call from 1916.
The $650,000 Sea Beach Ry. 4 % bonds due Sept. 1 1916 wero taken up
at maturity by tho B. R. T. V. 103, p. 843. The B. B. & W . E. 1st 5s,
duo April 1 1917, were also taken up by the B. R. T. at maturity.
Tho Nassau El. 1st cons. M . bonds are guar, (by end. on each bond)
by the Brooklyn Heights RR. Besides covering tho mileage directly owned
they are a lien by a supplemental agreement upon tho stock of tho Coney
Island Sc Gravesend Ry. and will become a direct lien on this line should I
t
bocome merged In the Nassau Electric. Of the total of $15,000,000 bonds
authorized, the unissued remainder ($3,242,000) I for prior lions. See
s
listing application In V. 72. p. 342.
C o n e y I s la n d & B r o o k ly n B o n d s . — Of the $10,000,000 bonds auth. by
mtge., $4,000,000 are reserved for prior liens and $3,768,000 are reservod
for ext. and imps. N o sinking fund, and bonds cannot bo called.
M I L E A G E . — The system Includes:
Name—
F ir s t
________.
T rack
Brooklyn Heights R R ____________. 3.036
Brooklyn City R R _______
..106.901
.106.901
Bklyn. Queens Co. & Suburban RR... 29.712
Nassau Electric R R _____________ . 69.323
Coney Island Sc Gravesend R y ____ . 3.950
South Brooklyn Railway_________
"
.459
Prospect Park & Coney Island R R __. 9.549
..
Coney Island Sc Bklyn. R R ________ 22.887
N e w York Consolidated RR. and
N o w York Municipal Ry. Corp___. 56.522
Trackage on N. Y. Sc Brooklyn Bridge—
Rapid transit lines____________ . 1.762
Surface lines__________________. 1.802
Trackage on Wllllamsburgh Bridge—
Surface lines__________________ 1.741
N. Y. Mun. Ry.— Lessee City of N.Y. 15.504
.
S econ d
T rack.
S id in g s ,
T o ta l
M ile s .
1.851
101.941
28.987
67.564
3.188
.459
8.920
22.198
< e.
!e
f
0.198
23.076
3.223
7.507
.348
3.301
8.460
7.039
5.085
231.918
61.922
144.394
7.486
4.219
26.935
52.124
56.491
37.776
150.789
1.762
1.707
.231
3.755
3.509
1.741
15.504
—
.218
16.173
3.700
47.181
.323.148 312.319 107.550 743.017
E Q U I P M E N T , June 30 1917.-1,885 cars. Closed cars, 1,590; open
cars. 1,178: convertible, 669; semi-convertible, 892; miscell., 056; total,
4,885. On Dec. 14 1916 tho P. S. Comm, ordered tho co. to provido by
not later than Feb. 1 1918, 250 now surfaco cars of the centre-entrance,
stepless typo, with seating capacity for 58. V. 103, p. 2340. Tho com
pany protested and a ro-hearing before the P. S. Comm, in Fob. 1918
resulted in a compromise agreement for tho immediate purchaso of 100
large subway and elevated cars and 50 surfaco trailer cars and tho con
version of 100 centre-ontranco cars for multiple-unit operation, at a total
cost of more than $3,000,000. V. 106, p. 714. Proceedings to compel
f l compliance with original order were adjourned until Oct. 1918, the
ul
Commission reserving a l i s rights.
l t
R E P O R T . — The annual report for 1910-17 will bo found In V. 105, p. 386
399. O p e r a tio n s o f C o n e y I s la n d <s B r o o k ly n in c lu d e d f r o m J a n . 1 1914
S
IN C O M E
ACCOUNT
BROOKLYN
R A P ID
T R A N S IT
AND
CON
S T I T U E N T C O M P A N I E S — Y E A R S E N D I N G J U N E 30.
1917.
1916.
1915..
Passengers carried---- 760,519,397 728.465.567 689,822,507
R even u e—
Transportation.... -.-$28,992,111 $27,557,279 $26,096,265
Miscellaneous...... .
511,908
391,493
331,421
Total---- ---$29,504,019 $27,948,772 $26,427,686
E xp en ses—
Maintenance of way... $2,505,288 $2,485,421 $2,391,815
Maint. of equipment... 2,496,349 2,508,370 2,401,841
Operation of power plant 2,041,617
1,725,308
1,553,178
Operation of cars.... . 7,583,622
6,942,972
6,532,265
Damages & legal expense 1,040,685
925,121
922,260
General oxponscs----768,991
797,652
819,754
Freight & mail expenses
304,666
302,103
338,414
Amor. Ry. Traf. Co.exp.
199
6,961
854
Taxes...... ........ 2.351,104
1,837,683
1,700,035
Total.............$19,092,521 $17,531,591 816.060,410
Net earnings---------$10,411,498 S10,417,181 $9,767,270
Other income........
427,815
438,706
438,715
Total income....... $10,839,313 $10,855,887 $10,205,985
Fixed charges (net)--- 5,644.074
5.244,055
4.693,424
Surplus........... $5,195,239 $5,611,832 $5,512,501
Dividends ( % ) ...... 4.467,318
6
4,467,318
4.467,318
Balance..........
$727,921 $1,144,514 $1,045,243
L a test E a r n in g s . — For 3 months ending Sept. 30:
1914.
659,147,381
$25,246,453
311,797
S25.558.250
dm
$2,021,647
2,315,990
1,463,284
6,216,155
828,742
822,857
325,055
823
1,752,880
$15,747,433
$9,810,817
451,772
$10,262,589
4,946,884
$5,315,705
3,660,048
$1,655,657
3 M o s .—
. G ro s s .
N et.
O th er I n c .
C h a rges.
B a l., S u r
1917......... $8,180,338 33,209,732 $107,170 $1,558,368 $1,758,534
1916.... ..... 7,719,324 3,003,948 125,709 1,401,837 1,727,820
OFFICERS.— Pros. Timothy S. Williams; Chairman of Board, Nicholas
F. Brady; V.-P. & Treas., C. D. Moncely; V.-P., John J. Dempsey: See.,
J. I . Bennington: Comp., Howard Abel. Offices, 85 Clinton St., Bklyn.
I
— V. 106, p.828, 924,1 125, 1229,1348, 1462,1576, 1795, 1900, 2010, 2122.
C O M P A N I E S C O N T R O L L E D B Y B R O O K L Y N R A P I D T R A N S I T CO.
( N e w York Consolidated RR.
1)
O R G A N I Z A T I O N . — Incorp. at Albany on Nov. 30 1912 as a consolida
tion of the Brooklyn Union Elevated RR., Sea Boach Ry. and Canarsle
RIi. V. 95, p. 1608. Brooklyn Rapid Transit owns or controls $13,430,
831 out of tho $13,900,000 commoa stock and $4,785,985 out of the $5.
000,000 preferred stock.
Owns a l the outstanding stock of the N. Y. Municipal R y .Corp. (which
l
holds the contracts made with the City of N e w York in 1913 for the opera
tion of subways, &c.) and guar. I s bonds, p. Sc 1 , jointly with B. R. T.
t
.
L e a s e . — All rights, &c., of the N, Y. Municipal Ry. Corp. under I s con
t
tract with the city have been leased and assigned to tho N o w York Consoli
dated RR. For terms, see statement of N. Y. Municipal Ry. Corp. below.
The N e w York Consolidated In 1915 leased for 999 yoars tho Nassau
Electric RR.’ terminal at Coney Island, the consideration being $226,000
s
upon delivery of lease and $100 per annum from Aug. 1915 which tho N ow
York Municipal Ry. Corp. was authorized to charge against tho cost of
construction under the dual system contracts. Seo V.101,p.447. Con
tract for construction of new terminal was let in March 1916. T w o tracks
are in operation from Sheepshead Bay to Culver Terminal. It i believed
s
that tho entire terminal will bo ready for uso lato in tho summer of 1918
with the exception of tho connection with tho city-built Culver l n . Tho
io
latter I oxpected to bo put in operation by July 1 1918 and bids for tho
s
extension or tho lino from Ave. X to Coney Island wero opened April 15 1918
F a v o ra b le D e c i s i o n . — In April 1918 tho Appellato Division of tho Supreme
Court upheld tho decision ot Supremo Court Justico Erlangcr In April 1916,
holding that under tho contract with tho city, dated March 19 1913, tho
company was relieved from the obligation of paying t l s for tho operation
ol
of cars over tho Williamsburgh Bridge. V. 106, p. 1576.
D iv i s io n o f E a r n in g s w ith C ity . — As the N o w York Consolidated holds,
undor assignment and lease, a l tne rights acquired by the N e w York Munici
l
pal Ry. Corp. In the latter’ contracts with tho city, a l the earnings will
s
l
accrue to i . The division of earnings will be on the following basis:
t
1
.
To the company, $3,500,000, as representing tho net earnings of the
existing railroads which are to form part of tho now rapid transit system.
Out of this reservation the company pays Interest charges on capital In
vestments prior to Mar, 19 1913 In the existing railroads.
Ma y , 191S.]
2. To the company, 6 % on I s new Investment in construction and equip
t
ment prior to the beginning of permanent operation and thereafter Interest
and 1 % sinking fund.
3. To the city. Interest and 1 % sinking fund on i s investment in cost of
t
construction.
.,
„
,,
,, „
, ^
„
4. Any surplus remaining, after making provision for a moderate contin
gent reserve fund, L to bo divided equally between the company and the
s
city. The company's preferential payments are to be cumulative.
R es u lts o f T e m p o r a r y
O p e r a tio n s o f L i n e s U n d e r C o n tr a c t w ith th e C i t y .
6 M o s . e n d . Y e a r e n d in g A u g . 4 ’
13to
D e c . 31 ’
17. J u n e 30 '17. D e c . 31 '17.
Total rovenues
____ __________SO,340,886 $11,371,282 $44,007,230
Total deductions... .... -...... $3,868,731
$7,012,831 $27,011,128
2,583,100
4,608,823 18,144,330
Company’ preferontials_________
s
Total_______________________ $6,451,831 $11,621,654 $45,155,458
Deficit In company's preferontials—
$110,945
$250,372 $1,148,222
Interest paid by city on i s cost of con
t
struction of property placed in op
eration plus sinking fund of 1 % —
1,390,000 2,238,516
4,947,244
T o t a l d e f i c i t __________________________ v - - $ 1 , 5 0 0 , 9 4 5
$ 2 ,4 8 8 ,8 8 8 * $ 6 ,0 9 5 ,4 6 6
♦ E x c lu d in g 8 1 ,0 0 0 ,0 0 0 c i t y ’s 'i n t e r e s t a n d s in k in g fu n d a c c r u e d to
D e c . 3 1 1 9 1 7 , b u t n o t r e p o r t e d b y le s s e e .
D o f i c i t s in c i t y ’s c h a r g e s d u r i n g t e m p o r a r y o p e r a t i o n s t o b o a d d e d t o
t h e c a s t o f c o n s t r u c t i o n o f c i t y - o w n e d lin e s .
C o m p a r e V . 1 0 6 , p . 1 3 4 8 ,1 7 9 5 .
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m stock, $13,900,000 ($100)--Q-M
$13,900,000 July’
182)4
Pref stock, $5,000,000 ($100).....
Q-M
5.000,000 July'182)4
Bklyn U n El 1st M , $16,000.-1 1899 5 g F-A
16,000,000 Feb 11950
000 gold, 4 % t l 1905,(Interest at Central Trust Co., N o w York,
il
since 5 % ($1,000)_____tf l Trustee.
Kings County El 1st M.gold,/ 1899 4 g F-A
7.000,000 Aug 1 1949
$7,000,000 ($l,000).c*ntflint, at Central Trust Co.. N. Y.. Trustee.
B o n d s . Bonds o f the Brooklyn Union and Kings County Elevated HR.
—
companiai are guar. p. & i by Bklyn. Heights RIt., guaranty to bestampod
.
upon bonds upon presentation. In Fob. 1902 began stamping bonds with
guaranty. Certain days each month are designated for stamping. See
V 106 p. 188. Both Issues are listed on N. Y. Stock Exchange. The
$650,000 Sea Beach Ry. 4 % bonds due Sept. 1 1916 were taken up at m a
turity by the Brooklyn Rapid Transit Co.
D I V I D E N D S . — The f r t div., of 2%. on the old Bklyn. Union Elevated
is
RR. prof, stock was paid June 29 1901; in 1902 and 1903, 3%: in 1904,3)4 %
In 1905. 4%; in 1906. 4)4%: in 1907 to 1911, incl., 5 % per annum: in 1912
June 214%: Doc., 6 %. On com., 1st div., 5%. paid June 10 1910: Dec..
2 )4 %. In 1911, 5%. In 1912, Juno, 2)4%; Dec., 6 %.
. .
.
In Nov. 1912 became part of the N. Y. Consol. RR. Divs. on both
classes of stock of the latter have been as follows: In 1913. June, 5%;
Sept., I K ; Dec., I K . In 1914. 8)4%. In 1915 and since, 10%.
R O A D . — Embraces 197.970 miles of rapid transit track, of which 47.181
miles are leased. Tho N e w York & Brooklyn Bridge has 3.755 miles of
track in addition. When a l the lines embraced in contract with tho city
l
have boon completed, will consist of approximately 285 miles of track, in
cluding trackage rights over tho Astoria and Corona (Queens County) lines
enjoyed mutually with tho Interborough Rapid Transit Co.
OFFICERS.— Pres., John II. Hallock; V.-P. & Treas., O. D. Meneely;
Sec., J. H. Bennington; Comp., Howard Abel.— V. 103. P. 884.
(a) N e w York Municipal Railway Corporation. ( S e e M a p p a g e 15.)
O R G A N I Z A T I O N . — Incorp. in N. Y. on Sept. 27 1912 to operato the
enlarged transit system (elevated roads and subways) covered by the agree
ment between the company and the city, and to construct and own such
parts of the system as are scheduled for private rather than public owner
ship. V. 95, p. 818. The lines to be constructed by the city are to be
leased to tho company for a period of 49 years from Jan. 1 1917 and are to
be operated by the company in connection with the existing railroads of the
N e w York Consolidated RR. Co. (os enlarged and extended) as one system,
and for a singlo fare. Tho city-constructed lines may bo recaptured by the
city after 10 yoars upon payment to the company of a fixod percentage of
tho latter's investment in construction and equipment (115% at tho end of
10 years and a gradually diminishing amount in succeeding yoars), so that
the company will rocoivo an amount which, with the accumulations of i s
t
sinking fund, will at loast make good i s investment.
t
In March 1913 tho P. 3. Commission approved a contract with the Brook
lyn Heights RR. for tho use of the Lutheran Comotery line. This line was
elevated and was placod In operation Fob. 22 1915. V. 100, p. 732.
L E A S E T O N. Y. C O N S O L . RIt.— On Mar. 20 1913 the P. 8 . C o mm,
sanctioned the lease and assignment to the N. Y. Consol. RR. of a l rights
l
under the contract with tho city respecting now rapid transit linos. (See
V 90 p.360,'947). The 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 RR. regarding tho Lutheran Cemetery lino. The lease calls for
0 % dividends on the N. Y. Municipal Ry. Corp. stock.
The Municipal Ry. Corn, agrees to furnish a l tho money necessary to
l
carry out tho terms of tho dual system contracts and has tho option of doing
a l tho construction work and acquiring a l the equipment, or of requiring
l
l
tho Consolidated Co. to do so on reasonable notice.
In August 1913 tho P. S. Commission granted authority to issue $400,000
additional stock, of which $100,000 was Issued in April 1915. U p to M a y 1918
only 3200.000 stock out, a l owned by N e w York Consolidated RR.
l
In March 1910 tho co. applied to P. 8 .Co m m , for auth. to issue $697,500
additional stock to reimburse tho B. R. T. for commissions and fees for
counsol paid out in connection with tho dual subway system financing.
S i l ponding.
tl
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
Stock, $2,000,000 ($100).... ..... All owned by N. Y. Consol. RR.---- First mortgage, 3100,000,000/ 1912
6 g I-I
$2^265,000 Jan i 1906
($1 .
000& $500) g.c*&r.tf lint, at Central Trust Co.. N. Y.. Trustee.
,
B o n d s .— Guar., p. & 1 , by B. R. T. and N. Y. Consol. RR.$ 60,000,000
.
wore issued and pledgod as security for B. R. T. secured notes. $2,265,000
of said notes wore converted into bonds or this issue. Right of conversion
terminated Jan. 1 1916. Semi-annual sinking fund after July 1 1918
(minimum, .3175%; maximum, )4% ) • Bonds are subject to call as a
whole, but not in part, except for sinking fund, at 107 J4 on 90 days' notico.
Seo V. 101. p. 2072. Listed on N. Y. Stock Exchange In Juno 1910. V.
10 2 ,p. 2255.— V. 90. p.360.863, 947. 1773; V. 101. p. 2072; V.102, p. 2255.
(2) Nassau Electric Railroad.— A trolley road.
.
O R G A N I Z A T I O N . — Chartered Mar. 13 1893 under the laws of N e w
York. Oponed in July 1895 and In April 1896 leased tho Atlantic Avenue
RR., dec. As statod abovo, tho Rapid Transit Co. owns or controls a l
l
of the $8,500,000 common stock of the Nassau Electric and $6,394,375
out of tho $0,500,000 preferred stock.
,
Was formerly loasod for 999 years from April 1 1900 to Brooklyn Heights
Railroad, but, coincldontly with a decision compelling tho issuance of
transfers from one leased line to another (V. 79, p. 102), the lease was ter
minated on Juno 30 1904. For order requiring universal transfers, effective
Juno 1 1914. seo “Brooklyn Rapid Transit Co. further above.
For lease of Oonoy Island terminal to tho N. Y. Consol. RR., seo remarks
under that company abovoand under Brooklyn R. l.Co.in V. 101, p.447.
STOCK A N D BONDS—
D a te .
In terest.
O u ts U m d in g .
M a tu r ity .
C o m m o n stock, $8,500,000__ ____
_______ $8,500,000
_______
Preferred 4 % cum, $6,500,000 ___
M-N
6,500,000
»ee text
B o n d s . For dotails seo Rapid Transit statement above.
—
R O A D . — Embraces 144.394 miles of single track.
Atlantic Avenue RR. (now part of Nassau Electric) owned the double
track steam road (since converted to electricity) from Jamaica to Flatbush
Avenuo Station in Brooklyn, 9)4 miles (19 miles of track), which l leased
s
for 99 years from Juno 1 1877 to the Long Island RR. Co., affording that
company entrance into tho city of Brooklyn— rental, formerly a percentage
of receipts, was changed In 1895 to $60,000 yearly. V. 61. p. 828. Liti
gation lias arisen with Long Island RR. regarding the use of Atlantic
Avenue. Seo V. 74, p. 1139. In Oct. 1910 N.Y. Court of Anpoals decided
that tho city had tho right to tear up r i s but city has takon no action
al,
looking to the oxorciso of tho right.
D I V I D E N D . — First div. on pref. under lease was paid Doc. 31 1900, 4%.
1901 to 1907 i c 4 % por annum; in 1908, Nov., 2%; In 1909. Nor.2%.
n l.,
in 1910 and 1911,4%; in 1912, May, 2%; Nov., 2 % rog. and 4 % on account
of arrears. In 19ld. May, 2%; Nov., 4%; in 1914 and since, 4%.
( Coney Island & Brooklyn RR.
3)
In Dec. 1913 the Coney Island & Gravesend Ry. (subsidiary of the Bklyn.
Rap. Transit) received permission from tho P. S. C o m m , to acquire 26,370
17
ELECTRIC RAILWAYS
shares of the stock of this company. Bklyn. Rap. Tran. Co. owns $625.
000 consol, mtge. bonds of 1904.
O R G A N I Z A T I O N . — Chartered Dec. 10 1860. Cars commenced run
ning over the Brooklyn Bridge Feb. 15 1898. See V. 66, p. 383.
Brooklyn City & Newtown was leased In Nov. 1897 for 999 years. In
1900 acquired a l the stock of that company, but legal proceedings com
l
pleting merger with Coney Island & Brooklyn were not effected until 1910.
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 i v . & c .
Stock, $3,500,000 (par $100)___
6
Q-M
$2,983,900 M a r '18, 1H
First consolidated mortgage/ 1898 4 g J-J
zl,987,000 July 1 1948
$2,000,000, gold_____ ntf l Mercantile Trust Co., N e w York, Trustee.
Consol mortgage,$10,000,000J 1904 4 g J-J
j/2,125,000 Jan 1 1955
gold ($1,000)_______c*tf 1 Mercantile Trust Co., N e w York, Trustee.
Brooklyn City & Newtown/ 1889 5 J-J
21,
993,000 July 1 1939
f r t mort $2.000,000_ntflMercantile Trust Co.. N. Y., Trustee.
is
Real estate mortgages__________
5%
288,062 _________
z Not including $13,000 held in treasury.
y Not including $107,000 held in treasury,
z Not including $7,000 owned by O. I & B. R. R. Co.
.
B o n d I n t e r e s t . — Int. on a l above bonds payable at Cent. Tr. Co., N. Y.
l
B o n d s . — Of the $10,000,000 consol, mtge. bonds of 1904 auth. by mtge..
$4,000,000 are reserved for prior liens and $3,768,000 are reserved for exts.
and impts.; $107,000 In treasury. N o sinking fund and bonds cannot be
called.
R O A D . — First track, 22.887 miles; 2d track, 22.198 miles; misc. track,
7.039 miles; total oper.. 52.124 miles. 460 passenger and 26 service cars.
D I V I D E N D S . — In 1895, 6 %: in 1896. 5%; in 1897, 6 %; in 1898. 8)4%;
V. 67. p. 955. In 1899 and 1900, 10%; in 1901, 13)4%: in 1902, 1903 and
1904, 16%; In 1905, 10%: in 1906. 8 %; In 1907. Fob., 2%. None there
after to Jan. 1914, when 6 % was paid. In 1915, Jan., 6 %; June, 1>4%Doc.. 3%. In 1916 and 1917, 6 %. In 1918, Mar., 1)4%.
OFFICERS.— Pres., J. J. Dempsey; V.-P. & Treas., C. D. Meneely;
Sec., J. I . Bennington; Comp., Howard Abel.— V. 98, p. 235, 303, 386;
I
V. 99. p. 1214; V. 106, p. 924.
( ) Prospect Park & Coney Island RR.
4
O R G A N I Z A T I O N . — In Oct. 1915 the P. S. C o m m . auth. the South
Brooklyn Ry. (controlled by B. R. T.) to purchase at $200 per share the
1,768)4 shares owned by the L. I RR. and the minority holdings from time
.
to time i s offered. V. 101, p. 1464. In M a y 1918 this transaction
t
was s i l pondiug. Road has been operated under lease at an annual rental
tl
of $45,000. In consideration of a guaranty by L. I RR., annual int. on
.
tho greater part of Prosp. Pk. & O. I ' bonded debt was reduced from 0 and
.s
7 % to 4)4%. See V. 56, p. 42; V. 62, p. 187. Ail tho 2d M. 6s $202,850
.
of income 6s and $80,000 of 1st M . 6s are owned by L. I RR.
.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu tity .
Stock, $100........................... —
$250,000 .........
Second mortgage, now fi s / 1886 4)4 F-A
rt
340,000 Feb 1 1926
($1,000each)....... c*&r\ 1886 6 F-A
160,000 Feb 11920
Third mortgage, now second,/ 1891 4)4 g M-S
96,000 Mar 1 1931
104,000 Mar 1 1931
gold ($1,000 each)__ c*&r\ 1891 6 M-S
I n t e r e s t on above mortgages payable at office of Treasurer of Penn. RR.,
N. Y. City.
Income bonds, non-cum____ 1880
0 M-N
250,000 M a y 1 1920
R O A D . — Embraces J.549 miles of first track 8.926 m. second track
8.460 m. sidings, &c.; total, 26.935 miles.
E A R N I N G S . — N o w included in those of B. R. T.— V. 101. p. 1371.
M A N H A T T A N B R I D G E T H R E E - C E N T LINE.
O R G A N I Z A T I O N . — Incorp. in N e w York. Began operat’ in Sept. '12.
g
Franchise to operate from Flatbush Avo. (Brooklyn) to Manhattan ap
proved by the P. S. C o mm, on Aug. 14 1912.— V. 94. p. 912; V.95.P. 420.
For two decisions handed down by tho Appellate Division of the Supreme
Court favorable to the co., see V. 97, p. 1733. Seo also V. 106, p. 1797.
S T O C K . — Authorized, $1,000,000; outstanding, $450,000.
D iv i d e n d s . — Initial quar. dividend of 1 ) % paid Mar. 1914 (V. 98. p.523);
4
same rate quar. to and incl. March 1916. None since.
R O A D . — Operates 4.14 miles of track from Canal St. and Bowery,
N. Y., over Manhattan Bridge, through Flatbush Ave. extension to Ful
ton St., Bklyn. 19 cars.
V ear en d .
G ro s s
N et
O th er T a x e s .R e n t s .
J u n e 30— E a r n in g s . E a r n in g s . I n c o m e . A m o r t . , & c .
D iv id en d s.
B a la n c e ,
S u r .o r D e f.
1916-17— $134,741 $42,409 $1,655 $20,146 -------- sur.$23,918
16,962
2,070
24,136 (4)4)20,250 def. 25,354
1915-16__ 128,670
1914-15... 136,498
42,959
5,126
22,889 (6%)25.977 def.
781
Total surplus June 30 1917, $6,465. Passengers carried during 1916-17.
5.168.421. against 4.908,477 in 1915-16 and 5.215.728 in 1914-15.
OFFICERS.— Pres., Fred’ W. Rowe; V.-Pres., Frederick D. Mackay
k
and Chas. J. Edwards; Sec., Walter Hammitt; Treas., Ed. T. Horwlli.—
V. 96, p. 285, 1557, 1840; V. 97, p. 1733; V. 98, p. 523; V. 106, p. 1797.
V A N B R U N T S T R E E T & ERIE BASIN RR.— A trolley road.
O R G A N I Z A T I O N , &c.— Chartered Feb. 15 1801. Stock, $200,000, al
Issued; par. $10. Bonds, $75,000 1st mtge. authorized; $31,000 out.
Track, 2.32 miles, changed to electricity in 1898. 6 pass. cars. For year
ending Juno 30 1917, gross, $67,462; net, after taxes, $19,144; other incomo, $434; interest, &c., $1,950: surplus, $17,628.
OFFICERS.— Pres., John F. Murphy; V.-P., D. W. Sullivan; Sec. and
Treas., Wyllys Terry. Office. 264 Van Brunt St., Brooklyn, N. Y.
BUFFALO, N. Y.
B U F F A L O & L A K E ERIE T R A C T I O N CO.— A trolley road.
On application of the N e w York Trust Co., mortgage
trustoo. Justice Brown in the Supreme Court at Buffalo on July 7 1915.
appointed Geo. Bullock receiver. V. 101, p. 129.
D e f a u l t . — Tho company having defaulted on the int. due Nov. 1 1912 on
tho f r t and re . M . 5 % bonds (subsequent coupons also defaulted),
is
f
a protective committee requested the bondholders to deposit their bonds
with Equitablo Trust Co., 37 Wall St., N. Y., as depositary, or the Girard
Trust Co. of Phila. as sub-depositary.
The aforesaid committee also drew up a plan of reorganization (see
V. 97, p. 297. but in Dec. 1913 the plan was abandoned.
•
O R G A N I Z A T I O N . — incorporated in N e w York and Pennsylvania In
Doc. 1906 and i a consolidation of the Hamburg Ry., the Dunkirk & Fres
donia RR., the Buffalo Dunkirk & Western RR., the Lake Erie Electric
Traction Co. and the Erie Rapid Transit Co. Leases the Erie Electric
Motor Co. for 999 years, which company leases the Erie City Passenger Ry.
for 999 years from Oct. 1 1888 and the Erie Reed Park & Lakeside Street
Ry. for 999 years from March 1 1901. In 1909 leased the Buffalo &
Lack. Trac. Co. for 999 years. V. 88, p. 1001. Also owns a l the stock
l
of this company, and guarantees the bonds. Also owns a l stock ($750,000.
l
a l out) of the Dunkirk St. Ry., which company has a franchise in Dunkirk
l
and has built about 5 miles of track.
The Niagara & Erie Power Co. l controlled by the Buff. & Lake Erie
s
Trac. Co. and tho Niagara Lockport fc Ontario Power Co. interests, and
I s bonds are guar., p., I & sk. fd., one-half each, by these two companies.
t
.
A p p l i c a t i o n to A b a n d o n P o r tio n o f R o a d . — On April 19 1918 the receiver
applied to tho N. Y. P. S. Comm, for auth. to abandon the 28 miles of
lino between Fredonia and tho Pennsylvania State l no, unless the co.
i
bo given permission to increase fares. Efforts are being made to effect
an agreement with tho communities affected.
Tho receiver has boon authorized by the County Court at Erie, Pa., to
issuo $1,244,200 receiver's certificates to provide funds for improvements
and extensions, of which $646,000 were Issued and outstanding Jan. 1 1918.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Common, $5,000,000----------------- $5,000,000
*
~
Pref, 5%. $2,500,000. c u m l .............
2.500.000
from July 1909________ /
1st and ref mtge, $12,000,-/ 1900
5 g M-N
7,066,000 N ov 1 1930
. .
000, gold ($1,000)___ c* tf(Interest at N e w York Trust Co., Trustee.
Erie El M 1st mtge. $200,000/ 1889
6 g J-J
148.000 Jan 11919
($1,000), gold_______ctf (Central Trust Co., trustee. N o w York City
1892 6“ g J-J
102,000 Jan 1 1919
Erlo El M 2d mtge. $150,000 --*’
.............
($1 ,
000) gold.......ctf Central Trust Co., Trustee, N e w York.
,
5 g A-O
1,000,000 Apr 11941
Erie El M 1st ref sink fund, 1901
$1,250,000, gold ($1 ,
000) Interest at N e w York Trust Co., Trustee.
.
N e w York City.
Cannot bo called____c*tf
745,000 N ov 1 1920
Hamburg R y 1st M , $750, 1906 4 g M - N
000,gold ($1 ,
000)..... tf Int. at Equitable Trust Co., N. Y., Trustee.
5 g J-J
39,000 July 1 1952
Dun & Fred ref M, $100,000, 1902
gold ($100, $500 & $1,000) Fidelity Trust Co., Buffalo, Trustee.
i»„.u u
,
1911
5 J-J
522,000 Jan 11941
Niagara & Erio Pow 1st M
$l,250,000g($l,000)gu p&i\Guaranty Trust Co., N e w York, Trustee.
6%
646,000 --------Receiver’ certificates___________
s
R e c e iv e r s h ip . —
18
ELECTRIC RAILWAYS
[Vol. 106
B o n d s .— Of the $12,000,000 new bonds, $2,034,000 are reserved to take retiring tho $5,000,000 4 % cum, prof, stock, with .accumulated divs.
up a like amt. of underlying lions. These new bonds are subj. to call on any thereon (42%) by an Issue of new 7 % cum. prof, stock, share for share.
lnt. date at 110 and lnt. Int. on the 1st and 2d mtges. of the Brie El. Motor $4,468,000 of the stock was so exchanged and In June 1916 the accumulated
Oo. I paid by Kountzo Bros., N. Y. The Erie El. Motor ref. bonds are divs. (42%) on the unexchanged stock were paid In cash. V. 102, p. 2166.
s
In April 1916 Issued $1,050,000 Serial 6 % secured gold notes to retire
secured by deposit of entire stocks of the Erie City Pass. Ry. and the Erie
Reed Park & Lakeside St. Ry. A sink. fd. of 1 % ann. on these bds. bogau floating dobt and pay the accumulated divs. on the old 4 % pref. stock un
Apr. 1 1906 and was Increased to 144% In 1916. The Hamburg Ry. exchanged.
bonds are no longer subject to c l . The Dunkirk & Fredonla refunding
al
N e w L i n e . The P. S. Comm, has auth. tho sale of $3,870,000 Interna
—
mortgage bonds are subject to call on any Interest date at 103. The tional Ry. r f and Impt. 5 % bonds, of which $3,702,000 have been Issued,
e.
Niagara Sc Erie 1st M. bonds are subj. to cal , any or a l on any lnt. day to provide for the construction and equip, of the high-speed Interurban line
l
l,
at 105. Sk. fd. from Jan. 1 1916, 144% or bonds auth. Bonds are guar., from Buffalo through Tonawanda and North Tonawanda to Niagara Falls,
p., 1 Sc sk. fd., by Buff. & Lake Erie Trac. and Nlag. Lockp. & Ont. 16 miles, over private right of way. V. 103, p. 1032.
.
Power Co., one-half by each. V. 92, p. 530.
O u ts ta n d in g .
M a tu r ity .
D a te .
In terest.
STOCK A N D BONDS—
E A R N I N G S . — For year end. June 30 1917, gross earnings, $1,720,408;
$10,000,000
Seo toxt
net, after taxes, $515,982; deficit, after deducting a l Interest charges (inch Stock, common, $10,000,000
l
Q-M
4.468,600 Apr ’
18.15*
Pref 7
lnt. on Buff. & L. E. Trac. 5 % bonds and sinking funds), &c.,$123,837. Pref 4 % cum $5,000.000--531.400 Apr '18.1%
Q-M
% cum.. ....... .
.
R O A D . — Buffalo, N. Y., to Erie, Pa., and Buffalo, N. Y., to Hamburg, Coll trust, $18,335.000.... 1912
16.395,000 July 1 1949
4 J-J
N. Y., 98.52 m.; leased linos— Dunkirk (N. Y.) St .Ry., 4.21 m.; Erie (Pa.) Serial debenture notes, $500,. f1913
_
250,000
See text
6 F-A
-___
Electric Motor Co., 27.85 m.; Erie (Pa.) & Suburban Ry., 4.63 m.; Buffalo
c Int. at Chase Nat. Bank. N. Y.,or Fidelity
l
000 ($1 ,
000) gold — ,
(N. Y.) & Lackawanna Trac. Co., 3.90 m.— 40.59 m.; operated under
l Trust Co. of Buffalo, Trustee.
trackage rights (International Ry., Buffalo, N. Y.), 52 m.; total, 139.63 m., Serial secured notes $1,050,-, 1916
6 A-O
850.000
Seo text
of which In N e w York (owned, 81.27 m.; leased, 8.11 m.; operated under
000 ($1 ,
000)gold_ c*cnt Central Trust Co., N e w York, Trustee.
_
trackage rights, .52 m.). 89.90 m., and in Pennsylvania (owned, 17.25 m.; Coll trust gold notos, $5,000. 1917
6 g F-A
1.700,000 Aug 11920
leased. 32.48 m.), 49.73 m. Second track (owned, 16.78 m.; leased, 21.04
Int. at Bankers Tr. Co.. N. Y., Trustee.
000 ($1 ,
000)......... c*
m.), 37.82 m. Sidings, &c. (owned, 5.74 m.; leased, 3.48 m.), 9.22 m.
B o n d s a n d N o t e s . — $18,335,000 col , trust bonds were Issued, but $t,940,l
Total track operated (owned, 121.04 m.; leased, 65.11 m.; operated under
000 have been re-acqulred, and are pledged as collateral to the Serial 8 %
trackage rights, .52 m.), 186.67 miles.
secured notes. The debenture notes of 1913 mature $50,000 annually
OFFICERS.— Receiver, Geo. Bullock: Pres, (vacant); V.-P. & Sec., beginning Feb. 1
$250,000 have been retired. Gallablo at 100 & lnt.
M. D. Brans: Gen. Mgr., A. R. Myers; Treas. Sc Asst. Sec., A. F. Tideswell. on any Int. date.1914. notes of 1916 are secured by $1,940,000 c ll, trust
The
o
— V. 103, p. 1117; V. 101, p. 1488; V. 105, p. 1206; V. 106. p. 1796.
4 % bonds duo July 1 1949. They mature $100,000 annually on April 1
from 1917 to 1925 Inch, and $150,000 on Apr. 1 1926, to be retired either
(1) Buffalo & Lackawanna Traction Co.
of tho pledged
O R G A N I Z A T I O N . — Incorporated In N e w York In June 1906 to furnish through earnings or by sale l or part, at 101 bonds at not less than 65.
Callable, a l
and
an entrance Into Buffalo for Buffalo & Lake Erie Trac. Co. In April 1909 $200,000 retired. Pennsylvania State tax refunded. int. on any int. date on
V. 102, p. 1436. Coll,
was leased to Buffalo & Lako Erie Trac. for 999 years. Stock, $100,000 30 days’notice.
trust notos of 1917 are callable at 101 and lnt. on Feb. 1 and Aug. 1 1918,
authorized, of which $55,000 I outstanding and owned by Buff. & Lake and 10044 and i
s
nt. on any int. date thereafter. Secured by doposit of
Erio Trac. Co. Has universal transfers throughout city of Buffalo through $2,667,000 Int. Ry. Ref. & Impt. Mortge. 5 % gold bonds. Co. pays
contract with International Ry. Co.
normal Federal Income tax to not exceeding 4%. v. 105, p. 497.
BONDS—
D a te.
In t e r e s t . O u t s ta n d in g .
M a t u r it y .
D
old 4%pref.stock was paid Fob. 1 1913;
1st mtge, $1,500,000. gold/ 1908
5 g J-D
$1,160,000 Dec 11928 alsoiv id e n d s . — First dlv. of 2 % on of accumulated divs.; July, 2 % and 2 %
an additional 4 % on account
($1,000), guaranteed-.ctf (Interest at N e w York Trust Co., Trustee’
add’. In 1914, Fob.. 2 % and 2 % add'l; July. 2%. In 1915, Feb.. 2%:
l
B o n d s are subject to call at 110 and lnt. They have no sink. fund. Re
In
In
maining boads are reserved for betterments and extensions at 8 5 % of cost. July, 2%.with Oct. 1916 new 7 % pref. stock was offoredtho oxchango for
old stock
of
stock
Bonds guar. prin. and lnt. by Buffalo <cLake Erie Trac. Co. V,90, p. 235. exchanged andaccum. divs. thereon.% All but $531,400 unoxchangedwas so
S
In Juno 1916 the 4 2 accum. divs. on
stock
R O A D . — 3.90 miles owned and .52 miles leased and used Jointly with were paid In cash. 4 % i now regularly paid on the old pref. stock. N e w
s
Int. Rys. Co.; total, 4.42 miles. Began operating Dec. 22 1909.
7 % pref. stock I cumulative fx-om Nov. 15 1915, and a dlv. of 44% was paid
s
OFFICERS.— Pres., I . E. Griscom; V.-Ps.. M . D. Evans and M . W. theroon Jan. 15 1916; In March 1916 paid 144% and same rato quar. since.
t
Initial dlv. on com.— 144%— paid Juno 30 1916; Sept., 1%; Dec., 144 % Dodge; Sec., M . D. Evans; Treas., A. F. TIdeswell.— V. 95, p. 1471.
In 1917, March, 1%; Juno, 1%; Oct., 1%. Jan. 1918 dividend passed.
F r a n c h is e s . — Nearly four-fifths of the mileage In Buffalo, Excluding a l the
l
B U F F A L O & D E P E W RY.— A trolley road.
m
i
s
t s
O R G A N I Z A T I O N . — Incorporated on April 27 1897. W m . B. Cutter most Important l nes, I maintained. I i stated, under franchises In perof Buffalo, N. Y., owns about three-fourths of the stock and the entire potuity or upon property directly owned, only 47 miles of minor trackage
being operated under franchises having l s than 25 years (from 19101 to
es
*3|(rt*e?-dDpOTatlons were suspended from Nov. 15 to Dec. 18 1915, Inc. run. Tho franchises of tho lines outside of Buffalo are either for various
long-term periods or are without time limit.
STOCK A N D BONDS—
D a te.
In t e r e s t . O u t s ta n d in g .
M a t u r it y .
C o n s o lid a tio n o f C o n stitu e n t C o m p a n ie s . — On Feb. 20 1902 tho Interna
$305,000 ------- —
Stock, $350,000 ($100)............... ......
Buff Sc D 1st M , $350,000--- 1901
5 J-J
350,000 Jan 11931 tional Railway Company was Incorporated In N e w York with $10,120,500
E a r n in g s . — For cal. year 1916, gross, $15,073; loss from operations, stock, and in Aug. 1902 this was Increased to $17,000,000, of which $18.
707,500 has been Issued ( l owned by the International Traction Co.), as a
al
$10,724. In 1915, gross, $15,084; loss from oper., $9,984.
R O A D . — Operates a double-track road from Buffalo to Depew, 13.59 consolidation of the following companies, whose shares had previously been
held by the Traction Co.; V. 74, p. 427,
mllos of track; 75-lb. r i ; 5 cars.
al
OFFICERS.— Pres., W m . B. Cutter; Treas., R. A, Pilklngton; Sec.,
Buffalo Railway Co. (after Buffalo Traction and Buffalo Bellevue <c
S
Percy Eaton.— V. 79, p. 2 6 9 5 . _____
Lancaster had f r t been merged In the same).
is
Buffalo & Niagara Falls Electric Railway.
B U F F A L O S O U T H E R N R Y. CO.— A trolley road.
Buffalo Sc
R e c e iv e r s h ip . — Int. on bonds having been defaulted, N. A. Bundy was tric Railway Lockport Railway (after Elmwood Ave. and Tonawanda Elec
had been merged).
appointed receiver Sept. 26 1913.
Buffalo Tonawanda & Niagara Falls Electric RR. Co.
In Oct. 1917 the P. S. Comm, for the 2d DIst. of N. Y. ordered various
Lockport & Olcott Railway.
improvements to bo mado. Involving an expenditure of $20,000. .Mortgage
Niagara Falls Sc Suspension Bridge Railway (after the Niagara Falls
foreclosure proceedings were thereupon brought against the co., i boing
t
merged In i )
t.
claimed that the road's earnings are not sufficient to warrant the expendi Whirlpool Sc Northern Ry. had been Oo.
Niagara Fails Suspension Bridge
ture.
On July 1 1902 the International Ry. Co. acquired by purchase the
O R G A N I Z A T I O N . — Incorporated In N e w York on Aug. 26 1904 and I Niagara Falls Park < River Ry.. the Clifton Suspension Bridge Co., the
s
&
a consolidation of the Buffalo Hamburg Sc Aurora Ry. and the Buffalo Lewiston Connect. Bridge Co. and Queenston Heights Bridge Oo. and In
Gardenville & Ebenezer Ry. V. 79, p. 2146. F r a n c h is e s perpetual. Has Dec. 1912 merged the Electric City Ry.
In April 1913 tho Crosstown
trackage rights In Buffalo over tracks of the International Traction Co.
St. Ry. was also merged, thus leaving tho International R a ilw a y Oo. tho sole
S tr ik e . — The strike begun on M a y 24 1916 was called off Sept. 1 1916. operating company and the International Trac. Co. tho holding company.
V. 103, p.1031.
L ien s o f C o n s tit u e n t a n d O w n e d C o m p a n ie s .
STOCK A N D BONDS—
D a te.
In t e r e s t . O u t s ta n d in g .
M a t u r it y .
BONDS—
D a te .
I n te r e s t.
O u ts ta n d in g .
M a tu r ity .
Stock, $2,000,000 ($100) — -.......... -.....
$547,200 ........
1st mtge. $2,000,000, gold] 1904
5 g A-O 15
600.000 Oct 15 1934 Internal R y ref Sc Imp mtge\ 1912 5 g M - N $16,662,000 Nov l 1962
$60,000,000, gold___ c*&r Bankers Trust Co., N e w York, Trustee.
($1.000)____ ____ c*.ntf(Int. at Seaboard Nat. Bank, N. Y., or at
Buffalo Ry 1st con mtge 1891
5 g F-A
5,000,000 Fob 1 1931
I Fidelity Trust Co., Buffalo, Trustee.
s
($1,000) $5,000.000.g,c*&ri Int. at Co.’ office, Buff., E.VV. Clark & Co.,
B O N D S . — N o s f . but from $50,000 to $100,000 bonds are subject to call
. .
Fhila., or Bankers Tr. Oo., N. Y., Trustee.
at 110 and Int. on any lnt. date upon 3 months' notice. $1,400,000 bonds
aTonawanda St R R 1st M . 1892
6 J-J
60,000 July 1 1922
reserved for future extensions and equipment.
(closed)--------------- Interest at company’ office, Buffalo.
s
E A R N I N G S . — For cal. year 1917, gross, $95,699. In 1916, gross,
1895
6
40,000 April 1 1927
$59,426 (operation suspended from Juno 1 to Sept. 1 1916 on account of aTonawanda Electric R R 1st iu t ioou au A-O
luv&v
j
---- ----------- Interest at v.uuiyaujr a umou, uuiuuu.
v
mtge
company’ office, Buffalo.
s
strike). In 1915, gross, $86,377. In 1914, gross, $85,470.
ftCrosstown St Ry 1st mtge, g\ 1892
5 g M-N
62,974.000 M a y 1 1932
R O A D . — Operates from Buffalo to Hamburg, East Hamburg and Or
(closed) gu p Sc 1------c*/Int. at Metropolitan Tr. Co., N. Y., Trustee.
chard Park, 1544 miles; also has a line from Buffalo through Gardenville Buffalo Traction 1st mtge.f 1898
5 g J-D
673,000 Dec 1 1948
and Ebenezer to Lion’ Park, 544 miles. A n extension to East Aurora,
s
(closed)-------------- /Int. at Metropolitan Tr. Co., N.Y., Trustee.
16 miles, i under construction, 544 miles completed. 60-lb. T and 80-lb. Buffalo Bellevue & Lancaster). 1897
s
5 J-D
215,000 June 1 1927
girder r i .
al
mtge (redeemable at par)./Int. at Buffalo Trust Co., Buffalo.
OFFICERS.— Pres., W m . J. Wheeler, Bklyn.. N. Y.; V.-P., A. S. MIII- BufT & Nlag Falls Elec Ry—
1895
5 g J-J
750,000 July 1 1935
digg, Bklyn.: Sec., D. K. Harrington, Orchard Park, N. Y.; Troas. Sc Gen.
1st M . $750,000, gold___ c Interest at Bankers Trust Co., N e w York.
Mgr., N. A. Bundy, Buffalo.— V. 86,p. 419; V. 103, p. 1031.
2d M , $175,000, g, s f red 1896
.
5 g T-J
5,000 July 1 1921
aft 1901 at 105 ($l,000).c Int. at Bankers Trust Co., N. Y., Trustee.
B U F F A L O & W I L L I A M S V I L L E E L E C T R I C RY.
Buffalo Sc Lockport 1st mtge, 1898
5 g J-J
500,000 July 1 1938
O R G A N I Z A T I O N . — Incorporated in N e w York July 1 1891. In M a y
gold. $500,000— ....... Equitable Trust Co.. N e w York, Trustee.
1904 auth. capital was Increased from $75,000 to $3,500,000, and In July Lockport Sc Olcott R y 1st 1900 5 g J-J
800,000 July 1 1920
1901new mtge. for $3,500,000 was made to provide extension to Rochester.
mortgage (closed), gold Int. at Guaranty Tr. Co., N. Y.. Trus.: also
In M a y 1914 Batavia Traction Co. purchased the tracks, rolling stock,
at Buffalo. Guar., p. Sc 1 , by Inter. Trac.
.
($1 .
000) ............ c*
property, t e c . , of this company In Batava. V. 99, p. 269.
Niagara Falls Suspension 1897
5 g J-J
300.000 Jan 1 1928
Bridge, Clifton Suspension Toronto General Trusts Corp., Trustee.
STOCK A N D BONDS—
D a te.
In t e r e s t . O u t s ta n d in g .
M a t u r it y .
Bridge_______________ Int. at American Exch. Nat. Bank, N. Y.
Stock ($3,500,000 authorized)...
........
$75,000 ..... ...
5 g A-O
125.000 Oct 1 1928
1st mtge. $3,500,000, gold/ 1904
5 g J-J
168.500 July 1 1944 Lewiston Connecting Bridge 1898
Co, Queenston Heights Toronto General Trusts Oorp., Trustee.
($500 and $1,000)— c*&r*\Int. at City Trust Co.. Buffalo, Trustee.
Bridge Co_____________ Int. at American Exch. Nat. Bank, N. Y.
B o n d s . — Are subject to call on any Interest date at 105.
aNIag Falls & Susp Bridge Ry. 1893 6 J-J
--518.000 July 1 1923
E A R N I N G S . — For fiscal year end. June 30 1917, gross, $40,434; in aNtag Falls Whirlpool St No Ry 1894
6 J-J .
22,500 July ! 1923
1915-16. gross, $36,859: in 1914-15. gross, $35,848.
Real "estate bonds' and mort-f ....
6 M-N
2501000
"1919
R O A D . — 6.65 miles of track, Buffalo to Wllllamsville. Ralls 85-lb. T.
gages-----------------(Int. at Fargo & Cary Estate, Buffalo.
Gauge 4 f . 844 Inches.
t
a All owned by International Traction Co.
OFFICERS.— Pres., L. L. Lewis Jr.; V.-P. and Gen. Mgr.. L. L. Grove:
Sec., Godfrey Morgan: Treas., L. K. Warnlck.— V. 99, p. 269.
6 Of this $360,000 owned by International Railway Oo.
B o n d s . Of the International Ry. refunding and Improvement bonds,
—
INTERNATIONAL TRACTION CO.
.
$11,001,500 are reserved
$2,667,000 are pledged
The United Gas Sc Electric Corp. (see statement of company under N e w as security for the notesto retiro prior lien bonds andmay bo Issued only for
of 1917; remaining bonds
York) owns over 6 0 % of Internal.Trac. Co. com. stock. V. 94, p. 1383.
add’
ns. lmpts.. S ee., with consent of the P. 8 . C o m m . Coup,
O R G A N I Z A T I O N . — Organized on Jan. 18 1899 under N. J. laws and denom. of $1,000 and reg. bonds of $1,000 and multiples. Rod. onbonds In
any Int.
acquired a l the electric railways connecting the cities of Buffalo, Niagara date at 110 and int. Int. payablo at office or agency of tho company In
l
Falls, Lockport, North Tonawanda and Tonawanda, together with a l the
l
Exempt
N. Y.
Sk.
street railway systems In a l of said c t e ; also the electric railway connecting N e w York. 1912 and from provideState, county and municipal taxos. retire
l
iis
began In
by July 1 1949 sufficient funds to
the villages of Depew and Lancaster with Buffalo. It also acquired the fd.except $641,000 of will
l
Canadian Electric Railway, traversing the entire length of the Queen Vic a l$12,641,500. The the outstanding underlying bonds to a total par value
bonds are secured by a 1st M. on about 43 miles of
toria Niagara Falls Park and connected I with the American system by the of
t
ic.
Buffalo) and by a
on
acquisition of the steel arch bridge at Niagara Falls and the Suspension track ( n l 1544 m. In They will also be mtge. M. remaining property, subj.
on the
Bridge between Queenstown and Lewiston, which bridges have been to divisional bonds. Falls. V. 96, p. 62:a 1st p. 1032. now line betweon
Buffalo and Niagara
V. 103,
Tho
equipped with trolley tracks. Owns entire stock and $4,984,500 bonds of Eloc. RR. 1st 4s due originally on Apr. 1 1907, woro extonded asTonawanda
4s to Apr. 1
the International Ry. Co. Has traffic agreement with Niagara Gorgo RR. 1917 and
again extended
Nlag. Falls
for the operation of cars over the latter’ 8-mlle lin . Contract runs to 1941. Sc Suspen.In 1917Ry. bds. of 1893to April 1 1027 at 6 %. Tho Nor. bonds
s
e
Bdgo.
and Nlag. Falls Sc whirlpool
In Juno 1917, purchased the Queenstown Coal Co. of East Brady, Pa., for of 1894 given In the tablo above matured In 1903, but wero acquired by the
$150,000 in the Interest of the United Gas & Elec. Corp. V. 104, p. 2641.
and extended
In Doc. 1912 the Pub. Serv. C o m m , approved the reorganization plan, International Traction Co.of N e w York ten years, and then deposited with
Trust Co.
as
under the
calling for oxchange of old col , trust 4s, $ for $, for new col. trust 4s of the Guaranty Traction Co. collateral trust additional securitywero again
l
International
mortgago. These
Internal. Trac. Co. due July 1 1949, and limiting the issue to $18,335, extended, maturity now being July 1 1923 and bearing Interest at 6 %. All
000 Instead of the $30,000,000 proposed. V.96.P.63. The few remaining the outatandlng stock and $4,344,000 r e t . Sc Impt. 6s of the Internal. Ry.,
bonds of 1890 which did not assent to plan were called for payment on $60,000 Tonawanda St. Ry. 1st 6s $40,000 bonds of Tonawanda Eloc. RR.,
,
July 1 1913 at 110 and lnt. V. 96, p. 1021.
$518,000 bonds of the Niagara Falls Sc Suspension Bridge and $22,500 bonds
N e w P r e fe r r e d S to c k . On Oct. 16 1915 company filed an amendment to of the Niagara Falls Whirlpool Sc Northern are pledged as security for the
—
I s charter permitting the consummation of tne plan (V. 101, p. 627) for International Traction collateral trust loan.
t
REPORT.
19
E L E C T R IC R A IL W A Y S
Ma y , 1918. J
For fiscal y e a r l i n g D e m S l
^
19U.
Total Income..... .... $8,255,279 $7,818,677 $6,839,974 §6.760,580
Operating expenses____ $4,765,267 $4,030,282 $3,480,543 $3,601,800
Taxes-------....... 637,890
535,156
425,484
420,632
Operating Income.... $2,852,122 $3,253,240 $2,933,946 $2,435,148
Int., rents, sink. fds.,&c.$l,901,700 $1,862,709 $..,866,960 $1,823,380
Renewals, &c., reserve- $293,323
$522,708
$396,582
$359,244
7 % pref. stock dividend- 312,802
312,452
38,657
-----
4 % preferred dividends__
21,256
21,456
177,910
200,000
C o m m o n dividends__( %)300.000 ( 34)425,000 ---- ----- ----- ----3
4
Balance, surplus_____
$23,041
$108,914
$453,837
$352,524
Earnings of International T r a c tio n Co. for cal. year 1917: Income from
International Ry. stock, $1,127,756; other income, $344,982 total income,
$1,472,738; surplus applicable for note intorcst, $769,718.
ROAD.&c.— Length of line,224.359miles (owned, 199.516;leased, 18.196;
trackago, 6.647); total mllos of track, incl. second track, crossovers, sid
ings, &c., 403 miles. Gauge, 4 f . 8 A In. Rail (steel), 45 to 145 lbs.
t
1,038 car*, of a l classes. Including 851 passenger cars. Greater part or
l
electrical energy used I purchased from tne Niagara Falls Power Co. and
s
I s allied co., the Buffalo General Electric Co.
t
_
,„
O F F I C E R S of International Railway Co.— Pres., Edward G. Connette,
V.-P., E. J. Dickson; Sec. & Troas., Goo. W . Wilson; Aud., Charles A.
.
CANTON, MASS.
B L U E H I L L S T R E E T R A I L W A Y . — A trolley road
On Nov. 1 1917 Mlchaol A. Cavanaugh of Roxbury. Mass.,
purchased the holdings of Stone & Webster (former Managers).
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
8tock, $300,000 ($100)—
S300.000 ---------
First mortgage, $500,000, I 1903
6 g A-O
250,000 Oct 1 1923
gold _
____________ \Int. at Old Colony Trust Co., Boston, Trus.
BondsT— Callable as a whole at 115 and Int. Non-taxable In Mass.
E A R N I N G S . — For years ending Dec. 31:
„
_
.
.
Y ear—
G ross.
E x p .& T a x e s .
N et.
I n t .,& c .
D eficit.
........ $88,474
$81,518
$6,956
$21,498 $14,542
1917
1916........... 92,962
74,611
18,351
19,890
1,539
R O A D . — Operates 19.7 miles of track from Mattapan. where connection
l made with the Boston Elevated Ry., to Canton and Stoughton, at which
a
latter point i connects with the Bristol & Norfolk Street Ry. and the Bay
t
State Street Ry. Standard gauge. 26 cars. F r a n c h is e perpetual. Power
station capacity, 487 k. w.; also purchases power from Bay State Street R y .
OFFICERS.— Pres, and Gen. Mgr., Michael A. Cavanaugh; Y.-P. and
Treas., Rav C. Cavanaugh; Clerk, James P. Dunn, Taunton, Mass.—
V. 106, p. 85.
M ______
\
N e w C o n tr o l .
—
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 ’ POINT RAILROAD.
S
O F F i C E R S of International Traction C o — Pres., Rodman E. Griscom,
In Dec.
S. Navy took over the physical
V.-Ps., E. G. Connette and A. P. Forbes; Sec. & Treas. Geo. W. Wilson: and of the1917 the U. Passenger Ry., extending from properties of this co.
Ocean St.
Aud., Chas. A. Chavel.— V. 104, p. 2118, 2338, 2641; V. 105, p. 497. 2272. Sewell’ Point, 7 miles, which had been sold for junk Cape M a y Point to
s
at receiver’ sale in
s
April 1917. V. 105, p. 1616, 2271.
BURLINGTON, IOWA.
BURLINGTON
R A IL W A Y & L IG H T CO.
O R G A N I Z A T I O N . — Incorn. In 1912 in Delaware and acquired the Peo
ple’ Gas & Elec. Co. and o ld Burlington Ry. & Light Co. Dora entire
s
municipal and commercial electric-lighting,and power business In Burling
ton, Delta, Martinsburg, Fremont, Mediapolis, Wapello, What Cheer,
West Burlington, Sigourney, Hedrick, 'lhornburg,
infield, Milton and
Morning Sun, a l in Iowa. Also owns steam-heating and gas plants.
l
Railway franchises aro perpetual, except for two suburban extensions of
minor importance. Lighting franchises In Burlington expire in 1927.
S T O C K S A N D B O N D S — D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Common, $3,000.000-..... .....
-----—
$1,500,000
Preferred *2,000,000 6 % cum
--6 J-J
i iSaS
First mortgage. *7,500,000, gl 1912
6 M-S
1,731,000 Mar 1 1932
(SI 000) sinking fd
c*tf I Int. at Eqult. Tr. Co., N. Y., Trustee.
B o n d s . — Remaining bonds are for additions betterments or extensions,
under certain restrictions, at 80% of cost. Callable at 105 and Int. on any
Int. day on 3 months’notice. Sinking fund of 5 % of gross earnings began
CEDAR RAPIDS, IOWA.
I O W A R A I L W A Y & L I G H T CO.
O R G A N I Z A T I O N . — Is a re-Incorp. in 1912 or the Cedar Rapids & Iowa
City Ry. & Lt. Co. and has acquired the properties formerly owned by the
following companies;
^
Boone Electric Co.
[Nevada (Iowa) Electric Co.
Cedar Rap. & IowaCy. Ry. & Lt.Co. Perry Elec. Lt., Pow. & Heat Co.
Marion Light. Heat & Power Co.
Tama & Toledo Electric Power Co.
Marshalltown Lt., Power & lty. Co.|Taina & Toledo Ry. Co.
Owns and operates entire electric light and power properties In Cedar
Rapids, Marshalltown, Boone, Marlon, Perry, Belle Plaine, Blairstown,
Chelsea, Tama, Toledo and Nevada, aud supplies more than 50 towns
through I s high-tension lin s Interurban road between Cedar Rapids and
t
e;
Iowa City and Cedar Rapids, Lisbon and Mt. Vernon; the local street rail
ways In Marshalltown, Boone. T a m a and Toledo; the gas plant In Mar
shalltown and tho heating properties in Cedar Rapids, Boone, Marlon and
Perry, Interurban road I on private right of way. Also does a freight
s
business, exchanging freight with four steam'roads.
3Un M d l n d s . ^ % ’ Is’being paid on preferred stock.
C o n tr a c w ith C i t . For contract with
—
E A R N I N G S . - F o r year^endin^Dec. 31. ^
m 4
1913. structlontof a dam,y&c., see V. 98, p. 235.City of Cedar Rapids for the con—
_
Also has a contract with the Iowa Electric Co. (V. 100, p. 2171) an allied
Gross revenue----- $431,580 $427,285 $405,352 $400,818 $366,614
ompany, for the Interchange of power.
jjnf (after taxes)
176*124
186*703
182,o08 182,3<3
1/7,343
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
R O A D -Owns'and operates about 23 miles of track In Burlington
anH i * snhirrhs 66 to 85-lb. T r i . 62 passenger cars.
t
al
pommon $3.000.000................. ----$1,700,000
See text
OFFICERS.— Pres., Geo. H. nigboe; V.-Ps., E. O. Walsh and M. A. 1 ref, $5,000,000. 7 % c um.......
Q-M
3.432.654 Mar. 18,1
Walsh; Sec.. Treas. & Gen. Mgr.. O. I Walsh.— V. 95. p. 6(8, 1039.
I.
Oed Rap & Iowa Cltv R & Lf 1903 5 g J-D
189.000 June 1 1923
1st M $2,000,000 gold (SI.-(Illinois Tr. & Sav. Bk.. Chicago, co-trustee.
000)
__ c*tfl Int. at Harris Tr. & Sav. Bank, Chicago.
BURLINGTON, VT.
1st & ref mtge $10,000,000 gf 1912 5 M-S
4.724.000 Sept. 1 1932
($500 and $1.000)___ c*tf lHarris Tr. & Sav. Bank. Chicago, trustee.
RlIR I IN G T O N T R A C T I O N C O .
2-year notSs, $2,000,000 g.j 1917 6 g F-A
825.000Aug 15 1919
RTOOK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g . M a t u r i t y .
($500 & $l,000)c*_______(Harris Tr. & Sav. Bank, Chic., Trustee.
Stock *^0.W0(paV$l()0).......
Q-F
5200,000 Feb.’ 2 &
18.
B o n d s . or the remaining 1st & ref.bonds, $189,000 are reserved for prior
—
30°vear bonds, $500,0(X) -- tf 1912
5%
350,000 ,
1942
B o n d s _The remaining $150,000 bonds can only be Issued with permis lien, $1,146,500 aro pledged as security for the 2-year notes and remaining
bonds are for extensions and additions at 80% of cost for acquisitions. &c.,
sion of Public Service Commission.
under certain restrictions. Subject to ca l on any interest date at 103 and
l
D lv i a e n d s . Previous to 1903 , 4 % yearly. From 1903 to 1912, 6 %
—
yearly. In 1912. 1913 and 1914. 8%.
In 1915. Feb., 2%; May. 244%; interest. Sinking fund 1% per annum of bonds out, Mar. 1 1916 to 1921:
1922 to 1926, 2%; 1927 to 1931, 3%. Sink, fund to be used for redemption
and same rate quar. since to and i cl. Feb. 1918.
n
of bonds or for extens. and betterments. V. 95, p. 750. Notes are call
Y e a r e n d in g J u n e 30—
G ross.
N et.
C h a rg es.
D ie s .
S u r p lu s .
....... $152,261 $61,434 $17,500 $20,000 $23,934 on 30 days’notice at 101 and int. prior to Aug. 15 1918 and at 100H and
1916-17
s
1915-16 " 1 ........... 147.690 62,435
17,500
20,000 24,935 int. thereafter. Interest i payable in N. Y. or Chicago. Secured by
140,539
59,107
17,500
17,000 24,607 pledgo of SI ,146,500 1st & Ref. Mtge. bonds, the notes being issued on the
1914-15 I........... —
R O A D . — Owns 12 miles of track in city of Burlington. Kails 60, 70 basis of 7 2% of the face value of bonds pledged. Remaining notes may be
l
and 75-lb. T. Owns 15 box cars, 18 open cars, 2 convert, cars, 2 snow plows. Issued as add’ 1st & Ref. Mtge. bonds are pledged in the foregoing ratio.
On Ced. Rap. & Iowa City Ry. & Lt. 1st M . a s in k in g f u n d began April
OFFICERS.— Pres., Elias Lyman; V.-P. & Treas., Juo. J. Flynn; Sec.,
1 1908 and b o n d s a r e s u b je c t to c a ll at 107A & Int. See V. 77, p. 2279.
O. W . Brownell.— V. 94, p. 1185.
D iv i d e n d s . — 7 % I being paid on pref. stock. On common, in 1911 to
s
1914 2 % per annum.- In 1915. 4%; since at the rata of 6 % per annum.
E A R N I N G S . — Of combined properties year ending Dec. 31 1917.
BUTLER, PA.
gross, $1,806,721; net, after oper. exp., taxes, maint. and renewals, $595,
BUTLER RAILW AYS CO.
671; annual int. charge ( n l notes), $287,500.
ic.
. x
—
O R G A N I Z A T I O N . — Incorp. July 1 1917 in Penn. as. successor to
R O A D . — Operates an interurban road 4 5 A miles long on private rightthe Butler Passenger Ry., tho City Division of the Pittsburgh & Butler of-way substantially 100 f . wide between Cedar Rapids, Iowa City and
t
Ry. (tho Interurban Division of which was sold under foreclosure M a y 9 Lisbon; also local street railways in Marshalltown, Boone, Ta m a and
1917—
see Pitts. Mars & Butler Ry., successor co., under Pittsburgh).Toledo and Cedar Rapids and Mt. Vernon. 42 pass. cars. 30 freight
Tho property of the Butler Pass. Ry. was takon over by the holders of misc., 8; total, 80 cars. Capacity of steam generating plant, 19.000 k. w.
$500,000 1st mtge. 5 % bonds duo 1936 and reorganized.
In the f l of 1917 completed the Installation of a 2,000 k. w. automatically
al
controlled hydro-electric plant at Cedar Rapids, the f r t of I s kind to be
is
t
ST O C K A N D BONDS.—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $300,000 ($50)-................ $250,000
5 g J-J
250,000 Jan 1 1948 PU0FFHJERS?— Pres.and Gen. Man., William G. Dows; V.-P. and Treas.,
First mortgago $300,000 gold 1918
ll
($500 & $1,000)— c*&r.tf Int. payable at Butler Co. Trust Co., trustee Isaac B. Smith- V.-P.. John A. Reed; Sec.. O. S. Woodward, a of Cedar
Rapids.— V. 103. p. 1508; V. 105, p. 716, 818; V. 106, p. 602.
Butler, Pa.
B on ds.
Not subject to call and no sink. fd.
R O A D . — Operates 13.28 miles of track In Butler. Rail (girder, except
CEDARBURG, WIS.
2>4 miles T), 65-lbs. Gaugo, 6 f . 2 I .
t
n
M I L W A U K E E N O R T H E R N RY.— An electric road.
OFFICERS.— Pros., A. L. Relber; V.-P., Peter Duffy; Sec.-Treas. and
Gen. Mgr., I . E. Spronklo.
t
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-way. F r a 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 f r a n c h is e expires
BUTTE, MONT.
Jan. 2 1956. All others perpetual. Enters Sheboygan over tracks of She
B U T T E E L E C T R I C R A I L W A Y . — Trolley.
This company was Incorporated in West Virginia In December 1899 as boygan Electric Co. under perpetual contract.
successor of the Butte Consolidated Ry.. sold at foreclosure.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Interest duo on Mar. 1 1915 was paid Sept. 1 1915 and subsequent cou Stock, common. $1.000,000-*1.^0,000 ---------
pons duo March 1 and Sept. 1 1915 and March 1 1916 were paid 6 months 1st pref.. $400,000. 6 % cum.......... ----------- 400,000 Apr ,17.3%
after thoy became duo. Subsequent coupons paid when duo.
2d Dref $600 000. 6 % non-cum.___
M-S
600,000 M ar 13.3%
S trik e S e ttle m e n t.— I n Aug. 1917 a strike on the co.’ lines was sottled by
s
lstP mile $4^000 000 gold! 1911
5 A-O
1.595.600 Apr 1 1931
tho adoption of a new wages scale of 4714 cents, 50 cents and 5314 cents
($500 and $1.000)____ ctf\Int. at First Sav. & Tr. Co., MUw.. Trustee.
per hour for men In tho co.'s employ for one, two or moro years, respec
B o n d s . Remaining bonds may be issued only when net earnings are
—
tively, representing an Increase of 1214% over former wages.
twice Int. charges, Incl. bonds to be issued, at not exceeding 7 5 % of cost
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
of extensions, additions. S ee. Subject to call at 105 and Int. V. 92,0. 725.
Stock. $1,000,000 (par $100)_____
M-N
$1,000,000 Oct ’ 2 %
06.
D iv i d e n d s . Dividends of 3 % paidIs.-a. on 1st pref. from Sept. 1911 to
—
lit M . $900,000, gold. $1,000/ 1900
6 g M-S
900,000 Mar 11925 Mar. 1914 (in l ) None to Jan. 1916. when I A % was paid. InMayl916
c..
each_____________ c*cpt\Interest at W . A. Clark & Bro., Butte.
A % and A % each month thereafter to Oct. 1916. In Dec. 1916 paid
B o n d s . — M a y be called for payment on Mar. 1 1915, or on any Interest 3 %
In April 1917, 3%. N o later information. O n 2d pref. paid 3 %
day thereafter. S in k in g f u n d of 10% par value of bonds began Mar. 1 1916 s.-a. from Sept. 1911 to Mar. 1913, incl. None since.
D iv i d e n d s .— In 1905. 4%; la 1906, May, 2%; Oct., 2%; none since.
E A R N I N G S . — For years ending June 30:
„
_
,
E A R N I N G S . — Years ondtng Juno 30:
,
Y ear—
G ross.
E xp . A T ax.
N et.
In terest.
S u r p lu s .
Y ear—
G ross.
N e t ( a ft . T a x e s ) . D e p r ' n .
In terest.
B a la n c e .
1916-17 ..... *359.589
*197.465
$162,124
9 7 9 .7 7 5
*82.349
1916-17.....$722,357
$106,097
$51,435
$42,687 snr.$ll,974 1915-16____ 332.336
185,240
147,096
79,775
67.321
1915-16.... 650,037
100,686
63.288
43,459
sur. 3.939 1914-15 .... - 334.563
192,383
142.180
79,750
62,430
1914-16.... 456,936
26,325
53,478
41,481
dof.68.634
R O A D . — Will be 120 miles long, running north from Milwaukee to CedarPassengers carried In 1916-17, 16,138,657, against 12,494,722 In 1915-16, burg, where i forks, one branch extending to Sheboygan via Port Washing
t
and 10,511.829 in 1914-15.
ton and the other to Fond du Lac. Operates 69 miles of track, including
R O A D . — Operates 38.98 miles of track. 66-60-80-lb. T r i s
a l . 61 6 A miles In Milwaukee, between Milwaukee, Cedarburg and Sheboygan.
passenger and 4 work cars.
Is double-tracking the line between Milwaukee & Cedarburg, 10 miles
O F F I C E R S — Pres., W . A. Clark, Butte; V.-P-. W . A Clark, Jr.; Sec. & completed. Gauge, 4 f . 8 A In. 70-lb. Trail.
t
__
Treas., J. H. Anderson, 20 Exchango Place, N. Y.— V. 100. p. i078,1661
OFFICERS.— Pres., W m . A. Comstock; V.-P. and Gen. Man., F . W .
Walker; Sec. and Treas., Henry A. Haigh.— V .85, p. 601; V . 92, p. 725.
CALAIS, ME.
CAL A I S 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 *50,000 pref.; f r t
is
mortgage. 1910 (ntf). 5s. J-J, *100,000 duo July 1 1930.
„„„ ,
R E P O R T . — Year ending Juno 30 1917, gross, $42,411; net, *8,773; Int
and taxes, *5,791; dividends, *2,500; surplus for year, $482.
R O A D . — Calais Street Ry., lower wharf to upper bridge, Calais, 4 miles;
St. Stephen Electric Ry.. Mllltown. N. B., to St. Stephen, N. B.. 3 miles;
total. 7 mllee. The St. 8tephen Electric Street Ry. I a separate corpor*s
tlon, but I owned entirely by the Calais company. 9 cars.
s
OFFICERS.— Pres., George A. Curran; Sec., Treas. & Gen. Mgr.;
Benjamin Y. Curran; Supt., O. F. Pray; a l of Calais, Me.
l
CENTERVILLE, IOWA.
O H G A N I Z A T W N . — (Organized Maine in 1905as the Centerville Light
& Traction Co. Own* and operates without competition the street rail
way serving Centerville, and interurban, passenger and freight electric
railways extending from Centerville to Albia, Iowa, with about 32 mills of
interurban track. Has also acquired a l the property of Moulton Elec. Co.,
l
Leon Elec. Co., Mt. Ayr Lt. & Pow. Co., Lenox Elec. Co.. Clearfield Elec.
Co. and Blockton Lt. & Pow. Co., thus owning a l the public utility proper
l
ti s serving more than 27 communities, with an estimated population of
e
20
E L E C T R IC R A IL W A Y S
w
s c
1
V
[Vol. 106
N
o
N
A
Galena
Harvart
~o
Freeport °
K
E
Waukegan <
jRoekford
Wlnncoago °
Belvidere
COLFAX
4
(IOWA)
Savanna
De Kalbo
■Roi
Dixon
^
,,
Sterling 0
- O
MONTEZUMA
^
(IOWA)
\
\
'V
\
C, Mendota. O
%
Si »■ i. 4
*
% %
K^\
%
*
a
*
«
, 1 V
* 5 |S i tlH W a n d X
•
oli
!jThornton
" IGieijwood
- -. - * '
_- •a * *
v
^Joieij------ N
JcHl'c
^CHICAGO HEIGHTS
g f St«*{
w AOe.'
r,.
:
*
v ' iSiS c * ,r a ^ o Kewanee
— —•
»-*.wHICAG0,^bj iJU/A &
PAC. « > I g o & f a ' S f i O
■
i
4 7 / ""> 7s^ 0 °
B Grand Ridge
-vnoB l
il
Braldwocd
. iS T R E A T O R
Pontiao
p h J ?™
i 0 ,t a
} Knoxville
/Abingdon
- o
p
(IOWA)
- o
(IOWA)
° Havana
OSKALOOSA
Papineauj
M r l ntn |
a t i on
n
Mart t oj
P is v o I
i tt o d
Gilman o Wa Ts ^Ka
jfdVMNCY
— -® -
SO. O M A H A
fv V
CISS/I
NGTOf
Oxford
Cbatlcrton
Winthrop
Kickapo
* ‘T 3 LE R O Y
‘
- --r j U VVlLLl'
tJD
CLINTO
k >
v
Igpur
JIaroa
Emery _
1o
!y
J StoncblulT
V c" a * vV E E SB R
EDR UC
« lYeddo
W<^*o».5 Kingman
JcAVot 5 Tangier
o e c 4 Jolsyt^
(N e b ,)
- o
LOUISVILLE
(n e b .)
SPRINGFIELD
Woodsid
vvoodsida^^r^^ol
•&
JAC K SO N V ILLE
Auburn#^
Auburn
Thayer M §
W
-L u 4
“o ^
‘ jocan { /
• Norton preekj
<JVTaylorvUle
« : >
i
c l p f e ^SjseechGr0^
< « » >
Gillespie g £
STAU NTO N
(KANSAS)
If
j
.o jX /'
/a l t a m ' n t
o
Loogootee)
-M
^ c y tJ}
Greenville
Robinson
f St.Peter
Olney o
JE FF E R S O N
CITY
^Brubaker
•• • * ,
NORTH*
missour,
TR N ISSIO S T . L O I
A SM
N
L E
IN S
MISSOURI
P R YC N E
ER E TR
rR N F R
A KOD
N WL N O
E ODN
.ville> U . y ^ .O
•
—K '
Belleville
Centwdla
oWaterl
C ity P r o p c t lie s - c o n t r o lle d
by th e H JIn oiiS isT raction C o .
o Sparta
S r e !Rai w y
tet l a
3'Du Quoin
,
St
O
Eeti b g t
lcrc i h
9
■
A
)(
Sre R
t e t ailway & E e t i L g t
lcrc i h
S r e R i w y E e t i L g t and Heat
t e t a l a , lcrc i h
S r e R i w y E e t i L g t and Gas
te t a l a , lcro i h
S r e R i w y E e t i L g t Gas and Heat
t e t a l a , lcrc ih,
A
Chester
Murphysboro
E e t i L g t and Gas
lcrc i h
□
E e t i Current Sold t L cal Companies
lcrc
o o
X
T j --f-
OF
j Orahura
2
sJordatl
/Hawkins
/.Mayvlllo
/Thomas
SniwIu II
fOSandy Hook
f Rogers
Decker
Munden
Fa,r" eW
Kenneth
•>•
i iMOUNT VERNON
J Carvel
■
;
j Bonnie
Ina
c McLeansboro
iWhittington
i Cabool
Carnti <
BENTON
\Johnston City
olsplllertown
Moi
<I
Eldorado
o ,1 MARIO N
xi
° j Hudgens
0)
* Gorevllle
aumar
Omar
E e t i L g t Gas and Heat
lcrc i h ,
MAP
Asitboro
k SA E C I
S LIN ITY
v - iKel River 1
New
Sclav City
Pittsburg ) Coal City
ULLtVAN f5J Rtibbcll
-j iJonu )to\i ii
!Paxton
OJWelch
Klllston
$C r i l
alse
zv Pluuimer
, _„ ! Oaktown 3yw„ ler
2 3 Lester
«WASHINGTON
E e t i L g t and W c e
lcrc i h
ftr
T
Lawrencevlllo^
I SALEM
! Cartter
Kell
Nashville
!E r i h
hlc
Vumlalla
• /& IBusseron QJSl i k r
5
iiad
- SKlnora
j / Em I o
)
sn
I llyatt
/Kinmundy
(MISSOURI)!
IHarpers
\
Yeung ieVwtf
T ‘
^
St. James
_(k a n s a s )
^
(McClelland
I^
8 Comptoti
Ellswfcrili'J^a^^S 1 Lane
Dewey 0 « e."^ BRAZIL
TERRE HAUTl*/
' (Eureka
JM’ t o
aan
Sprln^TlIllL
/st.ElmoJ
° Vandal
v
^ l ^ S ^ K p ‘k
l
TOPEKA
otter creek 1 L
jc v
5 •Mocasin
Benld
bvford/3 * '3
Keelers! g r$ ^
T2vans Lane!
^
o Charleston
M Holland /
J
Jerseyylllo
WICHITA
Baxter Mattoon
Clarksburg
|Mode
■
CARLINVILLEy
7
Coxville
!I c° xvi
o SKosedalo
3 A CO B FF
AL LU
K K ° * ***<
0 , -* Y
KihvoodI
ATCHISON
(KANSAS)
1 W e s t Union ,
^ o g e VJJuv M I W e st Melcher]
o 4
?
jv
Vlrden
Girard H fi:
mfteedhouse
.M
.J V w ^ \'PERCY
0V>i
,
A *0"
Sherman “ **
RALSTON
(NEB,)
I
Wapella
W lllianisville,#^
Shelbytown
Petersburg
*
/
^Hudson
a
Heyworth]
A
iSr/™ Beardstown
(NEB.)
/
t v
fliee£.
PAPILLON
/
»A f5 s ,4
*»
L IN C O L N
(IOWA)
^
^NP'J v .
Q o;
Mindale;
Hopedale
"
Richmond
Union]
Prairio City
DES MOINES
c.
>rSf^
lSt.Augustine
GLENWOOD
r f
’*
.! ?
Jfo
Hzeo
a l t n Blackburn
cl M l e ,
ilr
z *Patokn / Hosmer
<| — . / L t l
it e
u j ’l i u o r Massey
lr i c t n
O <Cc /
i j / ° V I King /OAKLAND CITY
/Oudgel
Iiosubud
Elbcrreld
zElot
/lit
Iglc-hart
St.George
'straight Line Jo.
H i v e r % ^ o Henderson
EXPLANATION
Itrra Lns
neubn ie
E e t i L g t Transmission L n s
tcfc i h
ie
TH E
ILLINOIS TRACTION SYSTEM
CHICAGO. OTTAWA & PEORIA RAILWAY
SHOWINQ CONNECTIONS WITH
CHICAGO a EASTERN ILLINOIS RAILROAD
CHICAGO, ROCK ISLAND a PACIFIC RAILWAY
T E R R . I T O R Y IN ILLINOIS
Marion
I t r r a R ilway and Transmission S r l o
neubn a
evc
^ S r e R i w y E e t i L g t G s Heat and I e
tet a l a , lcrc ih, a ,
c
rA» S r e R i w y E e t i L g t Gas and I o
te t a l a , lcrc ih,
c
u
K
Y
may,
1918.)
21
E L E C T R IC R A IL W A Y S
55,000, including Albia, Centerville, Moulton, Moravia, Allorton, Leon,
Mt. Ayr, Clearfield and Lenox. F r a n c h is e s run beyond l f of bonds and
ie
contain no burdensome restrictions.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n stock $1,000,000—
-------$580,000 --------Pref stock 7 % $500.000
-----360,000 -------
Serial debenture mortgage..... .... 6 % --------- 200,000
Serially
1st M $2,500,000 sk fd soldi 1916 6 g A-O
898.700 Oct 1 1933
($100, $500 A $1,000) c*.tf(Int. In N. Y. or Chicago. Central Trust Co.
c
redeem at 105 and interest), of Illinois, trustee.
Bonds assumed___________ ____
________
10,000 --------B o n d s . — A direct first mtge. upon the properties, &c., now ownod and
hereaftor acquired. Additional bonds may be Issued up to 8 0 % of cost of
permanent extens., A
cc., when net earnings are twico tnt. charges on a l
l
bonds outstanding, including those proposed. A minimum maint. charge
for railway properties of 17% of gross earnings from railway operations, i
s
provided. Sinking fund beginning March 1 1919, of 10% of not earnings
for the previous year, but not less than 14$% of the average amount of
1st M . bonds outstanding during the year to retire bonds or for permanent
improvements. V. 104, p. 73. The debenture bonds are secured by mort
gage, subject to the first mortgage bonds.
E A R N I N G S — For year ending Dec. 31 1917, gross, $375,019; not, after
taxes, $109,120; int. on bonds, &c., $61,747; dividends, $24,500; surplus,
$22,873.
P R O P E R T I E S . — A steam plant at Centerville with 240 miles of high"
tension transmission lines steam heating systems at Contorvillo and Leon;
;
a gas generating and distribution system at Centerville; a short street rail
way in Centerville, also electric railroads on private right-of-way connect
ing Centerville with Albia and Mystic, which do a freight and express busi
ness and are connected with transcontinental railway l nes.
i
OFFICERS.— Pres., D. C. Bradley; V.-P., John C. Meiners, Milw.;
Sec L. W . Bernhard. Milw.; Treas. & Gen. Mgr., Frank S. Payne; Aud.,
G. E. Peck.— V. 104, p. 73.
______
CHAMBERSBURG, PA.
CHAMBERSBURQ & GETTYSBU RG ELECTRIC R Y .
O R G A N I Z A T I O N . — Incorporated in Pennsylvania Dec. 4 1900.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $225,000 ($50).......... ......
$225,000 .... ....
1st mtge, $225,000 ($1,000) . I 1903
5 M-N
225,000 M a y 1 1933
not red., no sink. fund._c*\Int. at Northampton Tr. Co., Easton, Trust.
E A R N I N G S . — For calendar yoars:
Y ear—
Gross.
N et.
O th . I n c . I n t . & T a x e s .
D eficit.
1917________ $38,653
S9.073
$232
$11,733
$2,428
1916........ 38,098
8,396
304
11,667
2,967
1915........ 35,930
5,509
195
11,896
6,192
R O A D . — Operates 13.25 miles of track between Chambersburg, Stofferstown, Fayetteville, Groonwood and Mt. Union. 60 to 80-lb. T and
girder r i . Gauge, 5 f . 21$ i
al
t
n.
OF F I C E R S . — Pres.. T. B. Kennedy; Sec. and Treas., W . L. Ritchey
Supt., D. B. Fretz.— V. 105, p. 2271.
CHAMPAIGN, ILL.
ILLINOIS TRACTION CO.— (See M a p lp n page 20.)
O R G A N I Z A T I O N . — Incorporated in Maine on M a y 13 1904. On
Nov. 10 1913 increased the auth. common stock from $10,000,000 to
$15,000,000, in order to acquire control of the allied Western Railways Sc
Light Co. T w o shares of Railway A Light com. were oxchangod for one
c
of Illinois Traction com., $4,510,400 of the $4,521,800 stock outstanding
being so acquired. The pref. stock of the Railways A Light Co. remains
c
outstanding. See V. 97, d . 1426.1504. Controls the following companies:
Jacksonville Railway A Light Co
c
•Atchison Ry., Lt. A Power Co.
c
Bloomington Decatur & Champ. R R Jacksonville Ry. Co.
Bloomington A Normal Ry. A Lt.Oo. •Jefferson City Lt., Ht. Sc Pow. Co.
c
c
Madison County Light & Power Co.
•Cairo City Gas Co.
•Cairo Electric & Traction Co.
Mills County Lt. & Power Co.
•Cairo Ry. A Light Co.
c
Montezuma El. Lt., Pow. A Htg.Oo.
c
•Cairo S St. Louis Ry. Co
c
Monticello Electric Light Co.
•Chicago Ottawa A Peoria Ry. Co. •Mound City Light A Water Co.
c
c
•Oitizons’Ltg. Co. ofLa Salle.
N o w Valley Junction Water A Lt. Co.
c
Citizens Pure Ice Co., Jacksonville. •Northern Illinois Light A Trac. Co.
c
Clinton ( i . Gas A Electric Co.
lt)
c
Omaha A Lincoln Ry. A Lt. Co.
c
c
Colfax Electric Light Co. (Iowa).
Oskaloosa A Buxton Elec. Ry. Co.
c
•Consumers Wator A Light Co.
c
Oskaioosa Traction A Light Co.
c
Danville Cham. A Dec. Ry. A Lt.Oo. Peoria Railway Co.
c
c
Danville S Eastern Illinois Ry.
c
•Quincy Railway Co.
Danville & Northern RR.
St. Louis Electric Bridge Co.
Danville A Southeastern Ry. Co.
c
St. Louis Electric Terminal Ry.
Danville Street Railway A Light Co. St. Louis Springfield A Peoria RR.
c
c
Danville Urbana A Champaign Ry. Topeka Railway A Light Co.
c
c
Decatur Railway A Light Co.
c
Topeka Edison Co.
Des Moines Electric Co.
Topeka Railway Co.
Des Moines S Cent. Iowa Elec. Co. Urbana A Champaign Railway, Gas
c
c
•Galesburg Ry.. Lighting A Power.
c
A Electric Co.
c
Galva ( 1 . Electric Light Co.
11)
Urbana Light, Heat A Power Co.
c
Illinois Central Traction Co
•Wichita RR. A Light Co.
c
Companies marked with • formerly comprised Western Rys. A Lt. Sys.
c
In April 1907 obtained a 50-year fr a n c h is e on certain streets of St. Louis
and was also given authority by the U. 8. Government to build a bridge
across the Mississippi River botween Venice,HI., and St. Louts, Mo. This
bridge was opened to traffic in Nov. 1910 and, with terminals in St. Louis,
represents an investment of over $6,000,000. V. 92, p. 259. On July 1
1911 bogan running express trains botween St. Louis A Peoria, 174 miles,
c
with only two stops— at Springfield and Lincoln— the running time being
64$ hours, or about 32 miles an hour (V. 93. d . 44). In Aug. 1911 the
company opened offices In Chicago, with the purpose of securing freight
from points between Chicago and St. Louis, though company has as yet
no direct entrance Into Chicago. V .93, p. 527.
F a r e I n c r e a s e s . — On Dec. 4 1916 tho I.-S. O. C o m m , approved a schedule
of faro between St. Louis, Mo., and Venice, Madison and Granite City, 1 1
1.
which increased the averago receipts per passenger from 5 to 7.2 cents. In
Jan. 1918 the Illinois P. S. Com m , authorized the company’ subsidiaries to
s
charge 2 cents a mile for passenger service instead of tho fixed rates within
zonos, effective Feb. 111918.
A p p l i c a t i o n f o r F a r e s a n d F a te I n c r e a s e s . On Jan. 31 1918 the 13 subsidi
—
ary companies named below appliod to tho Illinois P. U. C o mm, for auth.
to increaso rates for railway, electric lighting and gas servico. A straight
5-cont faro i asked for in every community served by tho railways except
s
hi Jacksonville and Cairo, where a 6-cent rato i requested. Tho elimina
s
tion of a l books and reduced rato tlckots i also asked. Tho increases
l
s
asked for electric lighting service vary from 6 % to 20%, while tho proposed
increases in gas servico rango from 5 to 25 cents per 1,000 cu. f . The
t
companies joining in this application are: Tho Peoria Ity., Quincy Ry.,
Urbana A Champaign Ry. Gas A Elec. Co., Urbana Light, Heat A Power
c
c
c
Co., Clinton Gas A Eloc. Co., Cairo Elec. A Trac. Co., Bloomington A
c
c
c
Normal By. A Lt. Co., Danvillo St. Ry. A Lt. Co., Decatur Ry. A Lt.
c
c
c
Co., Jacksonville Ry. A Lt. Co., Galesburg Ry. Ltg. A Power Co., North
c
c
ern Illinois Light A Trac. Co. and tho Madison County Lt. A Pow. Co.
c
c
Subsidiary co.’ bonds in the hands of the public Jan. 1 1918 amounted
s
to $54,615,500.
Interest. Outstanding. LastD ivld.
STOCK A N D BONDS—
Date.
Common, $15,000,000 ($100).....
$12,331,000 Seo toxc
" o - r ■■ 7,289,500 Apr ’
Pref 6 % cum $10,000.000($100)--18. 14$
3.000,000 Feb 1 1925
5%
Debenture gold bonds---------U ,500,000 Jan 1 1926
l 62.000 Apr 1 1927
Western Railways A Light Co .—
Q-J
Pf cum 6 % $3,500,000 ($100).....
3.169.000 See text
Debenture gold bonds-----t f --6%
1.645.000
Stock.— Additional preferred stock can only bo Issued when net earnings
are equal to 9 % on preferred stock out and the amount proposed to be
issued. Preferred stock I listed on Montreal Stock Exchange.
s
Dividends.— 6 % per annum I being paid on the preferred stock. First
s
div. on com., K % . paid M a y 15 1913; same rato quar. to and incl. Fob.
1918: M a y 1918 div. omitted (V. 106, p. 1231). Dividends have been paid
on Western Rys. A Light Co.’ pref. stock sinco organization.
c
s
___
R E P O R T . — Of combined properties for calendar years.
Gross E a r n in g s .
—
1917.
1916.
1915.
_„^^14.
Interurban lines....... $4,609,896 $3,993,836 $3,559,028 $3,626,636
City linos___________
3,198,050
3,110,811 2,871,035 3.021,859
Gas................
1,035,169
923,642
905,703
877,982
Electric____________
4,295,501
3,689,852 3,325.411 3,002,378
Heat, water A miscell—
c
1,322,786
848,307
526,818
583,999
Total gross earnings_$14,461,408 $12,566,447 $11,187,995 $11,112,854
Oper. exp. and taxes__ 9,149,176
7,489,797 6,657,569 6,587,462
Net earnings________$6,312,232
Interest on bonds, Acc._ 3,719,541
Pref.dividends (6)____
432,750
C o m m o n dividends___ (3)368,732
$5,076,650 $4,530,426 $4,525,392
$3,603,418 $3,268,607 $3,290,787
428,130
428,130
428,130
(3)367,584 (3)367,539 (3)367,390
Total deductions___ $4,521,023
$4,399,132 $4,064,276 $4,086,307
S791.209
$677,518
$466,150
$439,085
Surplus____________
From the balance as above in 1917 there was deducted $650,705 for de
preciation and $82,140 for bond discount, against $505,565 and $65,283.
respectively, in 1916, leaving a surplus of $58,364 in 1917 against $106,670
in 1916.
L a te s t E a r n in g s . — For 3 mos. ending Mar. 31 1918, gross, $3,611,597
(for interurban. $1,087,536; city properties, $2,544,061); expenses, $2,441'
227; taxes, $168,904: net. $1,001,466. In 1917 gross, $3,307,064; net.
$1,260,598.
R O A D . — The interurban lines comprise 625.61 miles of track; city lines
comprise 270.22 miles of track; total of a l lines, 895.83 miles. In 1912
l
entered into a contract with Wabash RR. for a physical connection and
general Interchange at Decatur. Has working agreement with a l steam
l
roads in i s territory that can be of service, except the Pennsylvania and
t
N. Y. Central lines. Interurban lines have 197 passenger, 124 express,
1,085 freight cars and 34 misc. cars, and 35 locomotives; city lines have
425 motor cars and 201 others; 4 central power stations and 40 sub-stations
on interurban lines.
OFFICERS.— Pres., W . B. McKinley. Champaign: V.-P. and Gen. Mgr..
H. E. Ohubbuck, Peoria: V.-P. and Treas.. Geo. M . Mattis. Champaign;
Sec., T. B. Macaulay, Montreal.— V. 103, p. 145, 406, 1301, 1980, 2340,
V. 104, p. 73. 863, 2447; V. 05, p. 2094; V. 106, p. 86, 1126, 1231.
P R O P E R T I E S C O N T R O L L E D B Y T H E ILLINOIS T R A C T I O N CO.
(1) A tc h is o n R a ilw 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 . — Successor In 1895 or the Atchison Ry. Elec. L. A P.
c
Co. Controls electric railway, lighting and gas properties of Atchison.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $1,500,000 ($100)................ ...
-.... — First mtge $1,500,000.... tf 1910
5%
750,000 N o v
1935
R O A D . — Operates 9.84 miles of track. 26 cars. Supplies city with
104 arc lights and 135 incandescent lamps; also 14 arcs for commercial
lighting; 2,289 electric and 2,539 gas meters In use.— V. 94, p. 932.
(2) B lo o m in g to n D e c a tu r & C h a m p a ig n R R .
O R G A N I Z A T I O N . — Incorporated in Illinois on Nov. 29 1910 as a con
solidation of the Chicago Bloomington A Decatur Ry. and St. Louis Decatur
c
A Champaign Ry. Operates on private right of way except through cities
c
and towns (8 miles) where fr a n c h is e s extend to or beyond 1953.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Common, $3,000,000.....................
$3,000,000 .........
Preferred 5 % ($1,137.500)......-..........
1.137.500
5 g M-N
1,500.000 N o v 1 1940
1st A ref mtge, $15,000,000, g' 1910
c
c
($1,000 coup A $1,000 or Interest at Illinois Trust A Savings Bank,
c
Chic., Trustee, or Chase Nat. Bank, N. Y .
multip reg.) gu pAcl.c*&r*tf
5 M-N
890,000 Nov 1 1940
General mortgage_________ 1910
Central Trust Co. of Illinois, Trustee.
S to c k . Of the pref. stock, $912,500 i Series “A ” and $225,000 I
—
s
s
In March 1916 Issued $500,000 5 % Ser. A pref. stock to retire a like
amount of General Mortgage bonds.
..
,
B o n d s . — Of the $13,500,000 “1st A ref.” bonds reserved for various pur
c
poses. $6,750,000 are reserved for acquisitions of two connecting Interurban
roads (Danville Urbana A Champaign and Illinois Central Trac.) ,$1,262,000
c
to redeem the general mtge. bonds, $472,000 to replace general mtge. bonds
Issued in the future and $5,016,000 for 8 0 % of cash cost of additions and
improvements. These $5,016,000 bonds, excepting $500,000 (issuable at
any time for 80% of cost of additions and improvements, with consent or
N. W. Halsey A Co.) can be issued only when the preceding 12 months
c
gross earnings have equaled five times and net earnings I K times the intere f charge on a l bonds outstanding and those proposed to bo Issued. Bonds
sc
l
are unconditionally guar., p. & i vby Illinois Trac. Co. They are redeem
.
able at 105 on any int. date. V. 92, p.259. Int. on general mtge. bonds I
s
payable at office of Merchants’ Bank of Canada, N e w York.
R O A D . — Owns and operates 106 miles of track (96 miles, main line; 10
miles sidings) extending from Bloomington through Decatur to Champaign
and Urbana. 60 and 70-lb. r i s Standard gauge. 248 cars and 6 loco
al.
motives.— V. 102, p. 65.
(3) Bloomington & Normal Railway & Light Co.
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 A Normal Ity., Electric A Heating Co. and
c
c
the Consumers Light A Heating Co. of Bloomington. Does a l local street
c
l
railway and commercial electric light and power business in Bloomington
and Normal and operates hot-water and steam-heating system in Bloom
ington. Principal railway fr a n c h is e in Bloomington expires in 1929. In
this franchise city reserves right to purchase plant at an appraised value
plus 10% of same. Railway franchises in Normal that are not perpetual
expire in 1922. Principal lighting franchises are perpetual. Minor fran
chises in Bloomington for lighting and for steam and hot water heating
°X?n Jan.11917*the authorized capital stock was increased from $1,650,000
to $1,900,000. V. 104. p. 255. In Dec. 1917 the Illinois P. U. C omm,
auth. tho company to issue $53,000 additional pref. stock and $66,000
bonds (not incl. in amounts reported outstanding).
R a te s . See Illinois Traction Co., above.
—
STOCK A N D BONDS—
Date.
Interest. Outstanding.
Maturity *
$1,200,000 .........
C o m stock, $1,200,000 ($100).....
558.000
Pref. stock, $700,000, 6 % c u m --Q-F
1st and gen m tge. $3,500,0001 1911
5 J-J
1,200,000 Jan 1 1928
gold ($ 1 ,0 0 0 )............ c*Acrtf [Illinois Trust A Sav. B k .. C hicago, Trustee.
c
B A N R E A H 1st m tge.l 1902
c
c
5 g J-D
600,000 June 1 1927
$600,000 ($1,000) g . s f . c * t f [In t. at III. Trust Ac Sav. B k .. C h ic.. Trustee.
S to c k . — The pref. stock Is red. at 105 and accrued d iv . and Is guar. p . A d .
c
(end.) b y tho Illinois T raction C o . Tax exem pt in C o n n .. N ew H am p
shire, Illinois, Sec.
,
______
B o n d s . — O f tho $3,500,000 1st and gen. m tge. bonds. $600,000 are re
served for prior liens and $1,700,000 for extensions and lm pts. under care
ful restrictions. Are guar. prin. and int. and s. f. b y 111. T ra c. O o . In t.
in N . Y . or C hicago. Callable as a whole or in part for s. f. at 1024$ and
int. on any Int. date. Sink. fd . 1% o f bonds out annually. 1912 to 1919;
2 % 1920 to 1928. O f the bonds outstanding, $70,000 are in sink. fun d.
V . 93. p . 665. T he R y .. E lec. A Heating C o . bonds are subject to call at
c
110 and Int. Sink, fd ., $10,000 annually,bogan June 1908; $122,000 are
In sin k.fu n d and Included In amount outstanding.
R O A D .— Operates 19 miles o f track in, around and between B loom
ington and N orm al. Ralls 70 and 72-lb. Has 31 pass, and 5 m isc. rars.
Power station has 3,300 k. w . ca p a city .— V . 102, p . 1058; V . 104, p . 255.
( 4) C a iro R a ilw a y & L ig h t C o .— A trolley road.
O R G A N IZ A T IO N .— Incorporated on O ct. 5 1908 In M aine to take over
the properties o f the Cairo Elec. A T ra c. O o. and the Cairo C ity Gas C o . V .
c
88, p. 293, 374. T h e C airo Elec. Ac T ra c. was a consolidation o f the E gy p t
Electric C o . and the Cairo Elec. Light A Power O o.
c
R a le s . — See Illinois Traction C o ., above.
STOCK A N D BONDS—
D a te . In terest.
O u ts ta n d in g .
M a tu r ity .
S tock, co m ., $1,000,000 ($100) All owned b y Western R ys. A Light C o .
c
Prof, stock, $366,000________ ,
do
do
do
Cairo R y A L t M $ 1 .000.000 g n tf 1908 5 g J-D
c
$850,000 D e c 1 1938
Q E A T 1st M . $.300,000. g n tf [1903 5 g J-D
c
150.000 June 1 1923
($500 and $1.0 00 )..............e n t f l i n t , at Central T rust C o ., C h ic, Trustee.
C a iroO ity Gas C o $75,000 gold 1903
5 g J-D
75,000 June 1 1923
B o n d s . — O . E . A T . bonds subj. to call on any int. date aft. 10 yrs. at 105.
c
R O A D .— Operates 9 miles o f track In C airo, together with the electric
lighting and power plant. 24 cars. Furnishes city with 119 arc and 196
Incandescent lights; also supplies 40 com m ercial arcs.— V . 88. p . 293, 374.
22
E L E C T R IC R A IL W A Y S
[Vol. 106.
(5) Cairo & St. Louis Ry.
to be Invested In the bonds. Amount outstanding Includes $179,000 bond®
. O R G A N I Z A T I O N . — Incorporated in Ill n i Oct. 1908 to construct
.
ios
held In sinking fund. These bonds are subject to call at 1 0 7 and Int.
line from Cairo to East St. Louis. Has a 50-year f r a n c h is e i Cairo, Mound on any interest date upon 60 days’notice. Of the Decatur Gas Sc Electric
p
City and Mounds.
Co. 1st M . bonds, $15,000 must be redeemed on M a y 15 1910 at 105 and
a like amount each year thereafter In numerical order. These bonds
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
are subject to call at 105 and Interest. The second mtge. bonds of the
Stock..$300,000........... ....
......
$300,000 ____
u.
First mtge, $250.000,g-C&rtf/ 1908
5 g M-N
250,000 N o v 1 1938 Decatur Gas & Electric Co. are redeemable at any time at 105 aud t t ,
s
„ ,
„
lPortrd(Me.)Tr.Co.,Trus.,&F.D.Lunt,Portl'd but there i no sinking fund on these bonds. Of tho Dec. Ry. & Lt. consol.
f
B o n d s . Coupon bonds are in $1,000 pieces and registered In any desired & re . bonds, $1,454,000 are deposited under the Danv. Champ. & Doc. Ry.
—
L.
amount. Int. at Portland (Me.) Tr. Co. N o s f and not subject to c l . & . t cousol. Sc ref. mtge. $1,225,000 are reserved to retire underlying
. .
al
tor new construction.
R O A D . — 11.37 miles of track completed and In operation; 10 cars; 1 bonds and—$4,821,000 about 15 miles standard-gauge road In Decatur and
R O A D . Operates
englno.— V. 88, p. 293.
suburbs; 60 & 72-lb. T r i s 35 motor cars Sc 4 others.— V. 108, p. 85.
al.
(6) Chicago Ottawa & Peoria Railway Co
(c) Urbana & Champaign Railway, (las & Electric Co.
Controlled by Danville Champaign & Decatur Ry. & Light Co.
O R G A N I Z A T I O N . — Bought outright In 1909 the Illinois Valley Ry.
Operates largely on private right of way. F r a n c h is e s In various town,
O R G A N I Z A T I O N . — A consolidation in 1897 of Urbana Sc Champaign
mature mostly after 1950.
Electric Street, Champaign Electric Light & Power, Champaign Sc Urbana
Gas Light & Coke and West End Park companies. Owns perpetual gas
STOCK A N D BONDS—
D a te .
I n te r e s t.
O u ts ta n d in g .
M a t u r it y .
and steam charter. The underlying railroad charter i also perpetual.
s
Slock— $1,540,000 outstand’ — All owned by Western Rys. & Light Co
.
a
e
First cons and ref mtge. guar. 1907
5 g J-D
$2,918,000 Dec 1 1937 F r Rn c hsis— Iu 1901 extended for 20 years.
a te .
See I linois Traction Co. above.
l
ni.
Sh.OOO.OOO ($1,000)--- tflCentral Trust Co. of Illi o s Trustee.
In Dec.
Illtaois Val 1st M.J2.000.000/ 1905
5 g M-S
1.118.000 Sept 1 1935 additional 1917 the Illinois P. U. Comm, authorized tho issuanco of $136,000
stock (included in amount reported outstanding).
g C>oOO& $1.000),guarc . tf(Int. at Irving Nat. Bank. N. Y. City.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
B o n d s . — Cb. Ott. Sc Peo. 1st M . bonds are guar., p. & 1 , by Western Rys.
.
Stock, $836.000............... .
......
$836,000 _________
& Lt. Co. $1,500,000 are reserved for prior liens. They are subject to c l
a l 0o, ^ L . mort8a«e- 5500.000/ 1899
5 g J-J
354,000 July 1 1929
°3 aPy iP6\?ay on 30 (laya’notice at 105. Int. at Merchants' Bank of Can
($1,000, gold------c.ntf lint, at Portland Tr. Co., Portland, Me.,Trus
ada in N. Y . City. Illinois Valley bonds have a s in k in g f u n d of 134% per U & O Ry G & E consol and/ 1913
5 M-S
1,074.000 Mar 1 1938
annum of amount out; mtge. was originally $2,000,000. but on merger with
ref debs 34,000.000----tf l Central Trust Co.. Chicago. Trustee.
Chic. Ott. & Peoria the $500,000 unissued was canceled: $382,000 held i
n
B o n d s . Of the consol, mtge. bonds, sufficient aro reserved to retire f r t
—
is
sinking fund. Bonds are guar., p. Sc i. by Wostorn Rys. & Lt., Portlaud mortgage bonds. The bonds aro subject to call on any Interest day at 105
.
(Med Trust Co. I trustee. Are subject to call at 105.
s
Of the U.&G. Ry., G. &E. consol, and re . dobs.. $1,074,000 are deposited
f
R O A D . — Operates from Princeton, 1 1 , via Peru. La Salle, Utica, Ot under D. C. Sc D. Ry. Sc Lt. consol. & re . M., $354,000 are reserved
1.
f
tawa. Marseilles. Seneca and Morris to Joliet, about 117 m., with branches
bonds and $2,572,0OO for additions and improvements.
from Spring Valley to Ladd and from Ottawa to Streator, 10 m.; total,
R O A D . — Operates 12.60 miles of track in aud between Champaign aud
^cout 123 r
n. Road from Morris to Joliet was placed in operation in Dec. Urbana. Has 32 motor cars and 5 others.— V. 105, p. 2544.
1911; 108 cars; 3 locomotives.— V. 92, p. 1374: V. 97, p. 520 , 594.
(d) Urbana Light, Heat & Power Co.
Controls the electric lighting and steam-lioating business of Urbana.
(7) Consumers Water & Light Co.
s owned
l i o s Traction Co.
O R G A N I Z A T I O N . Sec. — Incorp.in Illinois in 1913 to succeed the M ar Entiresstock I Ill n i by I l n i Co. abovo.
R a te . — See
i o s Traction
s
eilles Water Sc Light Co. (successor in 1910 to the Consol. Wat. & Lt. Co.)
In Dec. 1917 the Illinois P. U. Comtn. auth. tho company to Issue
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
$35,000 additional stock ( n l In amount reported outstanding)
ic.
Stock___________________ _
__
_
ssnn nnn
ST CK A N D BONDS—
D a te .
I
ts ta n d in g
M t u r it .
6 j-D'"
‘
754)00 Dec’1‘1938 StockO$185,000........... ........n t e r e s t . O u$185,000 . ...a....y.
First & ref M 3500.000..... 1913
_.....
Marseilles W & Lt bonds(ntf)....
5%
5,000 April 1924
First mtge $56,000
M13,500
See text.
Consol W & Lt bonds (ntt).......
6%
30.000
Dec 1925 Second mortgage ($500).ctf 1903 5 J-DN
$200.000f 1909 5
92,000
See text.
(8) Danville Champaign & Decatur Ry. & LisJht Co.
($1,000)------------ tflCentral Tr. Co. of I I , Trustee. Int. in Chic.
I.
5%
10,000 Mar 1 1938
O R G A N I Z A T I O N . — Incorp. in Maine M a y 14 1913. Is a holding Consolidated and refundingl 1913
mortgage----------- tf/Centra! Trust Co. of I l n i , Trustee.
lios
company and controls substantially a l the electric, gas. street railway
l
B on d s. ’
— First mortgage bonds mature $2,000 to $4,500 annually on
and public heating systems in Danville, Decatur, Champaign aud Urbana
Franchises covering gas, electric and heating, with few exceptions, extend M a y 1 until M a y 1 1920. $42,500 retired up to Doc. 31 1917. Of second
many years beyond 1938. Street railway franchisee expire at various dubou mtge.. $13,500 are reserved for prior bonds and $94,500 aro for new con
before 1938, the laws of I I not permitting long-time street ry. franchises. struction. Bonds maturo on Mar. 1 yearly from 1918 to 1927. They
I.
are guar, by Illinois Traction Co. V. 89, p. 167. The entire outstanding
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
amt. ($10,000) of consol. Sc r f bonds are doposlted under Danv. Cham. &
e.
Stock. $3,700,000 ($100)... ......... .....
S3.688.000 _____
Dec. Ry. Sc Lt. mortgage.
Prof. 0 % cum, guar ($100)...... .
6 Q-M
730.000
See text
OFFICERS.— Pres., W. B. McKinley: Sec., E. A. MacNutt; Treas.
Cons & ref colitr $15,OOO.OOO/ 1913 5 g M-S 3,618,0flQ Mar 1 1938
s
gc*&r* red at,104 and int.(Int. at Boston Safe Deposit & Trust Co Geo. M. Matt I ; Gen. Mgr., H. E. Chubbuck.— V. 105, p. 2462.
( ) Danville & Eastern Illinois Ry.
9
guar prin and interest...tf 1 Trustee. I . D. Hoathfield also Trustee.
I
Stock, $125,000. Temporary bonds to the amount of $50,000 (5%) are
b l o c k . — Pref. stock i red. as a whole at 110 and div. Cumulative divs.
s
at the rate of 6 % and also $100 a share In the ovent of iuvoluntary liquida outstanding, due 1927.
tion or dissolution (and $110 per share otherwise),are guar, by endorsement
(10) Danville & Southeastern Ry. Co.
by the Illinois Traction Co. V. 103. p. 406.
O R G A N I Z A T I O N . — Incorporated in I l
l inois on Jan. 14 1909.
Bonds — Secured by a l the stocks and bonds of constituent companies
l
STOCK A N D BONDS—
D te
I
t.
ts ta n d in g
namely $1,454,000 Dec. Ry.&Lt. Co. Consol, tc Ref. 5s: $1,074,000 Urbana Stock-------------------Alla ownedn te re sIl i oO uTraction .Co.M a t u r i t y
by l n i
s
& Champ. Consol. & Ref. debs.; $1,400,000 Danville St. Ry. Sc Lt.
,I .
Kage51000008°ld' 1909 5 g J-J
l
$60,000 July 11929
Co. Consol.& Ref. 5s and $10,000 Urb. Lt. Ht. Sc Pow. Cons. Sc Ref. 5
s. Fl^ t 5 ^ t
($1,000)...------ c&rtf(Int. at Central Trust Co., Chicago, trustee.
lhere are $2,330,500 underlying bonds for payment of which a like
B o n d s . Subject to call at 105 and Int. on any int. date.
—
Guaranteed,
amount of cons. & ref. bonds i reserved. Remaining $12,660 500
s
& L, by Illinois Traction Co.
may be Issued for additions and improvements to constituent companies
ROA
of
under certain restrictions. They aro guar. p. & i by 1 1 Tree. Co., as are Creek D . — Operates 2.82 milesl . road froin'Danvllle City limits to Grape
.
1.
coal district. 70-lb. r i s
a
also sub. co. bonds deposited under this mtge. All future issues of stocks
OFFICERS.— Same as those for Illinois Contral Traction Co.
and tods by wmstlt. cos. must be pledged under above c l , trust issue
ol
(11) Danville Urbana & Champaign Ry.
nod P«io4ooo Coupon bonds lu denom. of $1,000; regls. bonds $1,000.
$5,000, $10,000 or multiples of $1,000.
.
— ’
Incorporated In I
llinois under the railroad law on
S in k in g f u n d will retire horore maturity about 4 0 % of total bonded debt, July 28 1902. Owns the Danvlllo Paxton & Northorn Ry. Mostly private
incl. underlying bonds; $67,000 now in sinking fund.
right of way.
.In P° c- 1917 the Illinois P. U. Comm, authorized tho company to Issue
E A R N I N G S . — Of constituent cos. for 12 mos. ending Dec. 31 1917
$5o0,000 preferred stock.
gross, $2,255,979; net, $911,890; interest, $293,399; surplus, $618,491.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
(a) Danville Street Railway & Light.
C o m m o n stock $250,000____ ____
. ..
$250,000 _____ ______
Controlled by Danville Champaign Sc Decatur Ry. & Light Co.
”
Preferred stock$550,000___
550,000 ........
O R O A N M A T H D N . Incorporated in Dec. 1899 as a consolidation of a l First mortgage $2,000,000/ 1903 5 g M-S—
l
________ __ 1
2,000,000 Mch._ 1923
the street railway, electric light, gas and steam-heating Interests.
Rolu $1,000) guaranteed]
of Bank of Montreal,N.Y.
„ I” Dec. 1917 the Illinois P. U. Com m . auth. the company to issue $129, _ c* u -----------------( Interest at AgoncyCo., Chicago, Trustee.
Northern Trust
000 additional bonds (not incl. In amount reported outstanding)
Second mortgage $500,000V 1905 6 g J-J
92,000 See text.
F a r e s — In Feb. 1918 was auth. by the I I P. U . Comm, to eliminate
I.
gold ($1,000) serial._.c* tfjlnt. at Agency Merchants’Bk. of Can., N.Y.
t c c t fares.
iie
General mortgage bonds..tf 1910
6%
700,000 Nov. 1930
R a te s . — See Illinois Traction Co., above.
*e
?
have no sink. fd.tbut are subj. to ca l on any int. date
l
„ STOCK A N D BONDS—
D a te .
I n te r e s t
upon 90 days notice at 105 & int. The bonds are guar., p. Sc i , by end. by
.
O u ts ta n d in g .
M a t u r it y .
Stock, $1,500,000 (S100).......
$1,438,000 .......
JrSy*
& Lt. Co. and Urbana Sc Champaign Ry.# Gas & l i e . Co.
flc
Refunding mortgage, $700,-. 1900
„g„
5 _ J-J
646.000 Jan 1 ’
19-'25 V. 81, p. 264. The 2d 6s mature $50,000 on Jan. 1 1908 and $50,000 each
gold ($1,000)-------c* tf/interest at N W. Harris Sc Co.
at N.
• an- 1 thereafter. The $50,000 due on Jan. 1 1908 and $50,000 due Jan. 1
f
Consol and ref debs, $7,500,
^,19 1 3
5 M-S
1,400,000 Mar 1 1938 1909, as well as $-42,000 of the $50,000 duo Jan. 1 1011, were extended,
000 1
.
„
n
, i r - --- tf (Central Trust Co. of III. Trustee.
$108,000 have been retired. They are subject to call at par on 30 days'
B o n d s .— R e t . bonds aro due $6,000 annually Jan. 1 1910 to 1924 Inclusive notice. Are guar., p. Sc 1 . by 1 1 Trac. Co. Trustees are Montreal Tr. Sc
.
1.
®3c
Jj^£lna nd®r on Jan. 1 1925; $54,000 have been retired. Sinking fund of Dop. Co. and Thos. FysIIe.
$6,000 per year bogan Jan. 1 1910, bonds being drawn (at par and accrued
R O A D . — Operates 76.16 miles of track over private right of way, con
t/V* | numerical order, beginning with No. 1
i
n
. Mortgage trustee I the necting tho cities of Danville, Urbana and Champaign, with brandies from
s
Illinois Trust & Savings Bank, Chicago. V. 70, p. 1257 Of the consol *
Danville to Georgetown and Ridge Farm; Danville to Gatlin and Ogden
f^iirenn of l913, $1,400,000 are deposited under D. C. Sc D. Rv. Sc Lt. M. to Homer. 70-lb. r i s Has 20 pass, cars, 23 express cars, 175 freight
al.
3646,000 are reserved to replace underlying bonds and $5,451,000 for cost cars. 11 locomotives and 7 miscellaneous cars.
or now property.
OFFICERS.— Pres., W. B. McKinley; Sec., E. A. MacNutt: Treas.
eo. M. Mattls.— V. 83. p. 435: V. 84. p. 338; V. 88, p. 563; V . 106, p. 85 .
C O M P A N Y ’ P R O P E R T Y . — The company owns the following: 1 . O m
S
unf spedal Charter and a perpetual franchise. 2. An
. ior
(12) Des Moines & Central fowa Electric Co.— A holding company,
electric-light plant I operated under a 99-year franchise; also has dynamos
s
■ Controls the Iowa subsidiary properties of the
—
remf nJf,»?fPOYfr ° s(
^
4
,
roet Fallway- 3. Tho entire street railway sy»- Illinois Traction Co., which Include tho electric-light and power companies
£0
,,™i°f
,AU0. Ity’ 1 6 ? 7 ? ! L1o2 °f track. nearly a l laid in brick pavement/
£
l
Dea
Valley Junction. N o w Sharon.
running to three parks, tho fair grounds,cemetery and railway depots and wrving CityMoines, Oskaloosa. Colfax, N o w railways in Oskaloosa. Con
and tho
Nationai Soldiers Home. Equippod with 50. 60 and 70-lb. Johnson T r i s Pralrio Des anti Montezuma Co. and street
al
the
Moines Electric
^ ‘ *> motor cars (General Electric) and 12 others. Furnishes electric trols bonds of this co. are secured by tho Oskaloosa Traction & Light Co.
tji
1 he
pledge of $433,000 gen. mtge. 6 %
Chris?nar?f Westvill°. Georgetown, Ridgefarm, Indlanola, Sldell and bonds of the Des Moines Elec. Co. (total out) and a l tho common and prof,
c
l
$127,000
l
OFFICERS.— Same as those for Danville Urbana Sc Champaign Railway stock of the same co. Also Light Co. gen. mtge. bonds and a l tho stock of
the Oskaloosa Traction &
v^o.— v . lOo, p. 80.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
(b) Decatur Railway & Light Co.
C o m stk, $14)00.000 ($100)-.A11 owned or controlled by Ill n i Trac. Co.
ios
Controlled by Danville Champaign & Decatur Ry. & Light Co.
Pref stock, $150.000______
do
do
do
do
O R G A N I Z A T I O N . — Incorporated In I l
l inois iu Dec. 1903, to take over 8k « gdd bond^o.ooO.OOOf W13
6 g M-S
$1,454,500 Sept 1 1937
tho property of the Decatur Traction & Electric Co., the Docatur Gas Jk
($500 Sc $1,000) red at 105] Interest at First National Bank, N o w York,
Electric Co. and the Decatur Steam Heating Co., owning a l the street r i
l
al
* Int guar p Sc 1 and s f by | or the Central Trust Co. oflllinola.Trusteo.
waJ >8as .and electric-lighting business and steam-heating plant In Decatur
end by Illinois Trac Co..c*l
a l i suDurns.
ir
51 *5- ( 1908 5 M - N
2.516,000 Nov 1 1938
„
P eCl, 19l7 (ho IllinoisP.U. C o m m , authorized the issuance of $180,000
000.0)0 ($1,000) s f--- tflInterest at American Trust Co., Boston.
standing^ s^oc^ and SCO,000 m bonds ( n l in amounts reported outic.
r&
Co I L $300.000( 1903 5 g J-J
xs
226,000 Jan 1 1923
($1,000) gold sink fund..c*l Int. at U. S. Mtge. & Trust Co.. N. Y. Trus.
R a le s . See Illinois Traction Co., above.
—
B o n d s . Additional sinking fund gold bonds can only bo Issued for 80%
—
of the cost of Improvements, S ec., to the sub cos., and certain other restrica
—
D a te .
In terest.
O u ts ta n d in g
M a tu r ity .
tlons Annual s in k in g f u n d of 1 H % of bonds out began Sopt. 1914.
Stock, $1.5o5.000 ($100)____ ____
______
*1,5 5 5 000
Des M o I
boi Elec. C o . 1st M . bonds are subject to call after Nor. 1 1914
Decatur Gas & Electric Col 1899
5 M-N
180.000
See text
S/nMnS fund, 1 % of bonds Nov. 1 1914-21: U 4 % 1926-31; 2 %
f r t mortgage
is
tf lint, at March. L. Sc Tr. Co.. Chic., Trustee
1931-37. Oskaloosa Trac. & Light bonds have sinking fund of $5,000 to
Decatur Gas Sc Elec Co 2d M / 1899
5 Jj
-'
S-lOOvOOO ($300.1)00reserved IInterest at”Merchants' Loim < JTrust C ck ! bo delivered to trustee annually. V. 98, p. 839. 1536.
&
for above ($1 ,
000) goldtf
,
E a r n in g s . Of sub. cos. of tho Des M . & C. I. E. Co. for 12 mos. end,
—
Chicago. Trustee.
Dec Trac & Elec 1st M $300
Dec-31 1917, gross, $1,171,515; net. $488,670; Int.. $160,197; surplus,
1900
5 J-J
000($50CI & $ 1.000 each)c*tf (int .at IlUnofa Tr. * Sa^.Bk^Chim. Trurt^ $328,475.
”
Dec Ry & Lt Co 1st & cons M l 1903
5 g J-D
743.000 Dec 1 1033
(13) Qalesburg Railway, Lighting & Power Co.
$1,300,000,g ($l,000).c*tf(Int.01dCol.Tr.Co..Bos.,Tr.,&agencylnN.Y.
OR
ON.
Sept. 10 1913
Dec Ry Sc Lt con & ref ratgel 1913
5%
1 454 000 Mar 1 lots burg G A N I Z A T I Co., — Incorp.in HI. Gas Sc Eloc. and took over the Gales
Ry. & Lt.
the Galesburg
Lt. Co., tho Knoxville
$7,500,000 (red at 105). tf(Central Trust Co of IlL, TreTtee
Elec. Lt. & Pow. Co. and tho Abingdon Lt. Sc Pow. Co.
B on d s.
$l ,22o,000 Decatur Railway & Light Co. f r t and consols, are r is
e
R a te s . See I l
—
l inois Traction Co. abovo.
slr7n(i t0/®?ire an °<iual amount of prior liens as above. A sinking fund
/j; M a y
of 10% of the net earnings, or not le s than 1 % of outstanding bonds, i $4,000,000. 1917 auth. capital stock was .{increased from $3,500,000 to
s
s
E L E C T R IC R A IL W A Y S
Ma y , 1918. j
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Consol^ref %tgo? ( f i & 0 0 0 l 1910
f
sT j
'-D" *3'876^00 "OctYl934
(SI 000) red at 105_-C*&rf Iut. at Merchauts Bank of^Canada, N. Y
Galosh R y & L t 1st cons...................
7 S I ,000 --- °
SufflcIen^consoL" re .
f ”mtge.'bonda"are rosorv^ for prior Ilona
and ^remainder for additions, < c . Bonds are guar., p. & 1 , by Western
Sc
.
Kys & Light Co. The Old Colony Trust Co., Boston, i trustee.—
s
V. 104, p. 2117.
Illinois Central Traction Co.--A trolloy road.
O R G A N I Z A T I O N . — Incorporated In I l
l inois In 1903 under general
railroad laws. Mostly private right of way.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
l
sfc°mtge!°$2^0.000 *($l.-I 1903 5'gJ-D- Si’
.
460.000 Dee" l"l983
tru*^.
000) gold, g uar---- c*tf[lnt. at Old Colony Tr. ^o*.
Tomnorarv tenoral mort-_-tf ---— 5 & 6
746.000
& i /oi
.
(lands.— Are subject to call on any Interest date on 60 days notice at
107 '4 and int. Are guaranteed, p. & 1 . by Illinois Traction Co. V. 82,
.
p 804. A sinking fund of 10% of net earnings became
1908 ,but not to ho less than 1 % of bonds outstanding. S169.000 held In s.fd
R O A D — Operates 45.5 miles of trade from Decatur to 8pringfield, with
an extension from Buffalo to Mcchanicsburg, 70-Ib. r i s Has 12 pass.
al.
cars,0 express cars, 171 freight cars, 4 electric locomotives and 2 misc. cars.
OFFICERS.— Pres., W. B. McKinley; Sec.. E. A. MacNutt; Treaa.,
Geo. M . Mattls; Gen. Mgr., M . E. Ohubbuck. V .82, p. 804; V. 84. p. 330.
23
1920 $110 000 in 1921, $115,000 in 1922, $120,000 In 1923. $125,000 In
1924! $130,000 in 1925, and the remaining $750,000 in 1926. They are
subject to call on any int. date at 105 and int. See V. 83, p. 38, 436,
^ * R O A D O wns^and*operates 54 miles ofstandard-gauge track, 12 2 motor
cars 23 other cars. Also owns valuable property near the centre or city ana
considerable other real estate.including several amusement Parks, estimated
to be worth $500.000.— V. 100, p. 643, 902, 1079, V. 101, p. 213.
(20) Q u in c y R a ilw a y C o .
O R G A N I Z A T I O N . — Incorp. In Illinois In 1912 as successor to the Quincy
G<Does*mtkeG(electric)G tree^railway business in Quincy. Principal/ranc h ise I unlimited, granted in 1865, and exclusively for 50 years. Other
s
fr a n c h is e s mature from 1922 to 1937.
R a te s . See Illinois Traction Co., above.
—
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
<i non n o n
t
- $1 ,
000,000 ---------
I S
SI 5007006:::::::-tf 1912
5 % ______ 599.000 Feb. 1 1932
Quincv Horse Ry. & O. Coj 1898
_5 %
400.000 Oct 1 1918
($550,000) ___________ 1Portland Trust Co., Trustee.
R O A D . — Operates 22.85 miles of track; 51 cars.— V. 94. p. 1628.
(21) S t. L o u is E le c tr ic B rid g e G o.
O R G A N I Z A T I O N . — Incorporated In Jan. 1907. Owns a bridge from
(Salisbury Street, St. Louis, to Venice. 1 1 In April 1909 company In
1.
creased capital stock from $2,500 to $1,000,000. V. 88.p. 946. Stock a
ll
owned by I l
l inois Traction. For franchise provisions, see V.85.p. 100.
Construction was started In Oct. 1907 and bridge was formally opened
on N ov 10 1910. V. 85, p. 100; V. 88,p. 946; V. 91, p. 1328.
First mtge. gold (5%).auth..$3,500,000 ($1.000)tf:outstanding.$2,592.
(15) Jacksonville Railway & Light Co.
. _ „„„
O R G A N I Z A T I O N . — Incorporated in Maine In Dec. 1905 and i a con 000: date 1913; duo Dec. 1 1929. E. Bentley Hamilton, Peoria, trustee.
s
solidation of the Jacksonville Ry. Co. and the Jacksonville Gas Light & This mtge. replaced the old (temporary) mtge. of 1909. V . 98, p. 74.
Goko Co. F r a n ch is e perpetual.
(22) S t. L o u is E le c tr ic T e rm in a l R a ilw a y C o .
R a te s . — See Illinois Traction Co. above.
Owns extensive freight and passenger terminal stations costing about
M a tu r ity
STOCK A N D BONDS—
Date.
Interest. O u ts ta n d in g .
S5 090 000: also valuable real estate and a 50-year franchise giving the I l
li
$100,000
Stock, $500,000 (SI00)
nois Traction an outlet In St. Louis. Also owns and operates city cars over
Jack Ry&Lt 1st cons M, 51,-7 1900
5 g J-J
573.000 Jan 1 1 9 3 1 about 18 miles of street railway in Madison, Granite City and \ enlce.
000,000.gu,g ($l,000)0*-tfjCentral Trust Co.. Chicago, Trustee.
F a r e I n c r e a s e . See under Illinois Traction Co.
—
,
,
J a c k s o n v G a s Light
o k e / ___
1 2 0 .UUU
Jacksonv Gas - L i g h t & C o k e ) --- _ 5 J -J
J-J
._
126,000 Jan i 1 9 3 1
1
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
J°Co first mortgage____ntf lInt. at Merchants Loan 3 Tr. Co.. Chicago. Common. $1,000,000....... All owned by I l
c
l inois1 Traction Co.
______
$1,000,000 --------PfPril
rlorx
- ___
B o n d s .— O r the $1,000,000 1st consols. $126,000 are rosorvod for prior
4-5 F-A
1,724.000 Dec 1 1929
liens. Are guar., p. & I , by IllinoisTrac. Co. 2 % of bonds out i payable Firstrntge .$3.500,6657gold! 1909
.
s
($1 000) Suar p 3 1 _ tf/Int. at Merchants Bk. of Canada. Montrea..
c _
annually to a s in k in g fu n d . Aresub. to call on any int. dateat lOo. Int. at
B o n d s . First M . (temp.) bonds are subject to call at par on any Interest
—
Merchants’Bank of Canada, N. Y. 574.000 Jack. Gas L. & O. retired.
.
R O A D . Operates about 7.65 miles of track and also does electric lighting day. N o s in k in g f u n d . They are guar., p. & 1 . by Illinois Traction Co.
—
and gas business in Jacksonville. 14 motor cars and 9 others.— V. 95, p.
(23) S t. L o u is S p r in g fie ld & P e o ria R R .
1542; V. 97. p. 1733, V. 99. 1748.
O R G A N I Z A T I O N . — Incorporated in Illinois Dec. 1 1909 as a consolida
tion of the St. Louis & Springfield Ry., the St. Louis & Staunton Ry.. the
(16) Jefferson City Light. Heat & Power Co.
Co. and the St. Louis & Northeastern Ry. Operates on
O R G A N I Z N , &C.— Owns majority of stock of Jefferson City Bridge A Trl-Clty Trac. way except through cities and towns (about 17 miles) .where
private
Transit Co. V. 97, p. 1666. Supplies gas and electricity to Jefferson City, fr a n c h is right of
e s extend to or beyond 1953. In 1911 acquired the Springfield
Mo., and furnishes current for operation of the street railway. In Nov.
1915 made a 9-vear contract with city for street lighting. Has $200,000 B
Ry. Co., the
common stock, $120,000 pref. stock. $200,000 1st M . 5 % bonds (cpt) due St °(n 1912acquired the Peoria Lincoln St Sprlngf.Co. and the Peoria Bloom.
Champaign Trac. Co., the Terminal Pow.
Springfield <c
S
M a y 1925 and $189,000 1st & r f bonds outstanding.
e.
Northeastern Traction Co. (acquired Nov. 1 1913).
Has long-time contracts for use of bridge and terminals of St. Louis Elec
rc
t
Iscoii” olf<UBmH, 906 of the^fidw^dsville Light & Power Co. and <he t i Bridge Co. and St. Louis Electric Terminal Ry., enabling i to operate
"\t
<t
U ih?'March* 1916'G^/ed $1,090,000 Ser. “A ” 5 % pref. stock to retire a like
amount of Gen. Mtge. bonds.
F a r e I n c r e a s e . See Illinois Traction Co. above.
—
and Williamson, and furnishes gas to Oarlinvillo. T w o of the principal
STOCK A N D BONDS—
D a te .
In terset.
O u ts ta n d in g .
M a tu r ity
f r a n c h is e s are perpetual; none expires earlier than 1956, except the easement
under which the co. operates in Granite City, which expires In 19 . . In C o m m o n $6,000,000 ($100)...............
2»
.........
Dec. 1912 increased i s stock from 8100.000 to $335,000. C o m m o n stock i Pref. S3,572,000 ($100) 5 % — - ---- -------t
s
Tw"Vi555
Int 3c rof mtee S15 6o6 090 gf 1909 5 J-D
5.045,000 Dec 1 1939
a l owned or controlled by I l n i Traction Co.
l
lios
(I1.0M
* '$17000 or Illinois Trust & Bar Bk. Chicago trustee
Rales— See Illinois Traction Co. above.
multiples reg.)___ c*3cr* tf (Interest In N e w York, 0 h|cagoor London.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
8t Louis 3 Springfield 1st M l 1903 5 g J-D
c
451,000 Dec 1 1933
-------S & . O M -------C o m m o n stock, $335,000--- ---($1,000) sfgold guar c* tf)Interest at City Trust Co.. Boston, trustee.
n ' f t r d Qfoplf
too'n
__
___ ___
_
OO |UU9 -- _____
„ 5%
2.765,000
1939
1st mtgeil,0007666T$r.060)j 1906
5 gJ;D
636,000 Doc 11930 StLSp&P g e n M $15.000.000tf ---5 g J-D
145,000 Dec 11930
gold
- __„c* tf1Int. at agey. Merchants Bk. of Canada.N .V. Springfield St Northeastern/ 1906
Traction 1st mtge *1,500.- Int. at agency Merch. Bank of Can.. N. Y.
» u
^ Central Tr. Co. of Illinois. Chic.. Trustee.
000 ($1 000) gold_____c*
Central Trust Co. of Illi o s Trustee.
ni,
B o n d s . Remaining bonds are for exts. and add'ns. Sink, fund of I! %
—
4
&
280,000 Nov 1 1930
of bonds previously certified began Oct. 1 1910: bonds retired to be canceled. Peoria Bloomington < C h a m f 1906 5 g M - N
Trac 1st M $3,000,000 gold] Int. at agency Merch. Bk. of Oandaa, N. Y.
Guar. p. & i (end.) by Illinois Traction Co. Can bo called on four weeks’
.
($1,000)__________ C*tfl Central Trust Co.. Chicago, Trustee.
notlco on any Int. day at 105.
B a n d s .— O t the $9,955,000 1 st & ref.bonds reserved for various purposes,
F a r n s C a l. Y r .
1917.
1916.
1915.
1914.
191.3. 1912.
c
Gross earnings-.$258,646 $219,191 $179,321 $154,234 8137.859 $114,741 $145,000 are reserved for Springfield 3 Northeastern Traction Co. bonds,
Not after taxes. 896 429 $85,599 $08,496 $64,173 $57,610 $49,788 $564,000 to retire prior Hens, $2,765,000 to redoem a like amount of general
mortgage bonds and $6,481,000 for 8 0% of cash cost of additions and ex
Bond i
nt., &c-- 29,860
27,200
26.550
27,790 --- N o t s ta te d --tensions. The $6.481.000 and the 5 2 .705.000 for redemption of gen. mtge.
P r o n e r tu . Reserve electric power plants in Edwardsvillo and OarUnvIlle;
—
bonds (total $9,246,000). excepting $500,000 (Issuable at any time for 80%
a gas plant and gas-distributing system In the latter city; high-tension of cost of add’ 3 impts.) can be Issued only when, for the preceding 12
transmission linos, sub-stations. &c. The company purchases, under a months, gross ns c
earnings have equaled five times and net earnings l A times
contract oxtending until 1947, electricity generated in the power station f h Interest charge on a l bonds outstanding and those proposed to be issued.
co
l
at Venico, controlled by the Illinois Traction Co.
Redeemable at 105 on any int. date. Bonds are unconditiona1 guar.
ly
,
p. 3 1 , by Il i o s Trac. Co. V. 90, p. 304; V. 95. p. 177. Are listed on
c .
lni
(18) Northern Illinois Light & Traction Co.— A trolley road.
Chic. Stock Exch. St. Louts 3 Springfield 1st M . bonds are subj. to call
c
O R G A N I Z A T I O N . — Incorporated In I l
l inois and was successor In July on any Int. date on 60 days’notice at 1 0 7 & int. Are guar., p. &
by
1903 to the Ottawa Ry., Light & Power Co., sol under foreclosure. F r a n t l Trac. Co.; $167,000 of bonds held In s f
i.
. .
c h ise perpetual for lighting aud until 1930 for railway. Has contract for
Peoria Bloom. 3 Cham. Tr. 1st M . bonds are guar., p. 3 L. by 1 1 Trac.
c
c
1.
oitv lighting. Western Itvs. & Light Co. owns a l the stock.
l
Co. They are subject to call on any interest date at 105 on 30 days notice.
in Sept. 1913 Increased stock from $250,000 to $750,000. V. 97, p. 729.
R O A D . — Extends from Venico. opposite St. Loul^ to Peoria and Bloom
R a te s . See Illinois Traction Co. abovo.
—
ington .with branches from Staunton to Hillsboro. Trackage 210.49 miles,
O u ts ta n d in g .
M a tu r ty .
STOCK A N D B ONDS—
D a te .
In terest.
main track, 10.10 miles belt line. 0.29 miles second track. 23.06 miles oT sid
$398,000 ---- ---Com. stock, $750,060 ($100)-.-------ings and turnouts and 7.59 milos of Industrial tracks, total, 251.53 miles.
216,000
I referm l stock— ---- ---- ---’
-----Standard gauge. Owns 64 passenger cars, 56 express &ars 488 freight cars
*668,000 July 1 1923 9 locomotives, 13 miscellaneous cars. V. 102, p. 68; v . 103, p. 1302.
First mtgo, $1,200,000, gold! 1903
5 g J-J
.
($500 and *1,000)--C*__tf lint, at American Tr. Co., Boston, Trustee.
General M ($1.000,000).........
6%
84,000
1938
(24) T o p e k a R a ilw a y & L ig h t C o .
♦All but $265,000 of these bonds are guar., p. & L, by endorsement, by
O R G A N I Z A T I O N . — Incorp. In Maine and owns the Topeka Ry. Co.
Wostorn Rys. & Light Co.
(see below) and the Topeka Edison Co. (V. 92, p. 730). .Aho^own and
B o n d s .— ’
No sinking fund and bonds cannot bo called. Remaining bonds operate without competition the street railway, commercial eloctrlc light
are for 80% of cost of additions, extensions and now properties. lunior con and power and steam-heating properties in Topeka and Oakland, Kansas,
servative restrictions.
Population served (1915 State Census), about 50,000. F r a n c h is e s , with
E a r n in g s . For year ending Dec. 31 1917, gross, $213,821: net, after one minor exception, extend beyond Feb. 1 1933
—
M a tu r ity .
O u ts ta n d in g .
STOCK A N D BONDS—
D a te .
In terest.
taxes, $72,474. In 1916, gross, $334,221; net, after taxes, $119,375.
------- $1,500,000 .........
R O A D A N D P L A N T . — Oporatee 0.5 miles of line, covering the principal C o m m o n stock--- -------- ---584.0)0 ..... ...
-----—
stroots of Ottawa, and runs out of the city to Ellis Park, a pleasure Preferred stock----------- ---s. lion & ref i i sn,ou:;,uuu 5 \ laiu « g.F-A
r
s
v
_ 1.283,000 Feb. 1 1933
resort on the Illinois River. Also has extensions from Ottawa t o Chautau 1st non < ret MJ$7.509.(WP ki 1916 .5 »
($100. $500. S1.
000.&c)c*&r*/Int. in N. Y . N e w York Trust Co.. Trustee
.
qua Park. Equipment, 8 motor and 8 other cars. Also does entire elec
C3o mortgage / 1905
5 J-J
MS?,?
tric light and power business In Ottawa and wholesales power to local Topeka Ed Ison'
SI 250.000 __________ tf (Int. at Oont.3cOomm.Tr.&S.B., Onic.,Trus.
utility companies In La Salle, Utica, Sonoca, Morris, and to the Chicago
5 g J-J
i,100,000 Jan. 1 1936
Ottawa St Peoria Ry. At Marseille? owns a hydro-eloctrlc plant with steam Topeka Ity mtge (see that co)_ 1904
auxiliary, having a capacity or 8,000 h. p.— V. 97. p. 729.
B o n d s . The l«t Hen and re . bonds are secured by pledge of the entire
—
f
capital stocks and, excepting $1,889,000 underlying Issues, a l the bonds
l
(19) Peoria Railway Co.— A trolley road.
of the subsidiary cos. $2,080,000 are reserved to acquire or retire unaerO R G A N I Z A T I O N . — Incorporated under general railroad laws of Ill n i Ivlng bonds, and remaining $4,119,010 may bo issued to the extent of 8 0 %
ios
In 1906 and I successor to the Central Railway Co. Has aoqulred. owns of cost of additions and imi»ts. to the properties of tho sub. cos., but only
s
aud controls a l street railway linos la Peoria and outlying suburbs of Avery- when annual not earnings are 1 % time? the annual Int. c hargos, 1 ncl.th e
l
v l o Peoria Heights aud East Peoria. The entire stock I controlled by bonds proposed and aU underlying bonds held by public. They are guar.,
ll,
s
the I linois Traction Co. F r a n c h is e s In Peoria expire in 1926 and those In p. 3 1 7 by the I I Traction Co. and aro red., a l or part, on any Int. date
l
c .
I.
l
adjoining districts in 1924.
at 105 and int. S in k in g f u n d began Aug. 1 1917 of 114% per ann. to
and lncl. 1929 and 1 % thereafter of tho total amount of bonds outstanding
F a v o ra b le D e c i s i o n . — On Oct. 20 1911 the Illinois State Supreme Court
nl
reversing the Circuit Court, held that the City Councils could not grant a (l c . underlying bonds), less amounts paid on account of sink. fund, re
quirements of underlying mtge*?. (It I estimated 3 2% of the $3.2o0,000
s
franchise to the Peoria Ry. Term. Co. over stroots to which the l’
eorla Ry
outstanding bonds will thus be retired Feb. 1 1933.) $18,000 in sinking
already held a franchise. V. 9 3 p. 1535.
..
fund Mar. I 1918. Bonds in fund are held alive. The Topeka Edison
R a te s . See Illinois Traction Co. above.
—
Co. bonds have a sink, fund of $15,000 per ann., payable Dec. 15 $135,000
M a t u r it y
O u ts ta n d in g .
STOCK A N D BONDS—
D a te .
In terest.
have been retired. Beginning with the 2-year period ending M a y 31 1918,
$1,010,000 .
Com. stock. 31,010,000---- --------and during each 2-year period thereafter, there must bo set aside for
Preferred stock___________ ____
______
_ 505,000
„
maintenance and depreciation an amount averaging 1 2 % of the combined
First St ref mtge, $3,000,000,1 1900
5 g F-A
2,559.000 See text.
annual gross earnings of the subsidiary cos. V. 104, p. 74.
gold ($1,000)_______c*tri Interest payable In N e w York.
EARNINGS.— Year ending Dec. 31 1911. gross, $894,862; net, after
General mortgage........tf 190
5%
813.000
1030
taxes, $328,772: i t., $160,916. In 1916, gross, $803,196; net, after
n
B o n d s . Of the $3,600,000 f r t and rof. bonds, $291,000 are reserved
—
is
maintenance and taxes, $332,493.
for additions and Improvements at 7 5 % of cost; $055,000 have Iwon retired.
PR O P E R T I E S . — 39 miles of electric street railway, largely 70 to 79- b.
They are guaranteed, p. St 1 , by endorsement by the I l
.
l inois Traction Co.
r
The bonds are secured by a f r t mortgage upon a l properties and fran Trails; 51 double and single-truck motor cars. 28 t ailers; power-plant, gen
is
l
chises of the Peoria Railway Co. now owned or hereafter acquired. The erating capacity, 5.893 h.p.; 255 miles of power and Hght-dlstrlbuting lin«s
and 8.300 meters: exhaust steam system for heating purposes: miscellaneous
trustee i the I l n i Trust & Savings Bank. Chicago, I I Remain
s
lios
I.
i ' bonds mature on Feb. 1 as follows: S100.000 in 1919, $105,000 In real estate.— V. 104, p. 74.1
n'
24
E L E C T R IC R A IL W A Y S
(a) Topeka Railway Co.— Controlled by Topeka Ry. & Light Co.
I O N . Incorp. under general railway laws of Kansas In
—
absorbed the Vlnewood Park Ry., and made a new mtge. for
*1,250,000. On June 4 1903 obtained a now 30-yearf r a n c h i s e , running from
that date, with the provision that 5400,000 bo expended within 3 years on
the system. Also has secured fr a n c h is e s in perpetuity on county roads now
occupied, with privilege of hauling freight. City agrees never to reduce
rates to where company will earn less than 10% on stock. The city i to
s
receive 10% of earnings remaining after 10% has been earned. Upon ex
piration of fr a n c h is e city has the right to acquire the property, but not
before. V. 76, p. 866, 1302. On June 26 1916 authorized capital stock
was increased from $1,250,000 to $2,250,000. V. 103. p. 62.
,
Dec. 1917 tho Kansas P. U. Co m m , granted auth. to issue $81,001
1st & ref. mtgo. bonds for the purpose of paying off outstanding obligations
and for extensions and betterments.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, 52,250,000 ($100)____ ____
______
$1,250,000 f.p.__.....
51.250.000, gold? 1901 5 g J-J
1,100,000 Jan 1 1930
($1,000)
_
--- c* tn Int. at Cont.& Comm.Tr.& S.B.,Chic..Trus.
First & Refunding bonds--- 1 1916
5%
See text. Feb 1 1933
_ .
_
,,
(New York Trust Co., Trustee.
B o n d s . — Remaining bonds are reserved for 8 0 % of cost of now power
house and for betterments and additions. Subject to ca l at 105 and int.
l
$150,000 have been retired. A s in k in g f u n d began Jan. 1 1910. which I
s
sufficient to retire $15,000 per annum at 105 and interest. $120,000 bonds
of 1916 are deposited as collateral with the Topeka Ry. & Lt. Co.
E A R N I N G S . — For year end. Dec. 31 1917, gross, S457.781; not, $164,
211; int., $61,750; surplus, $102,461. In 1916, gross, $422,395; net, $158,
669; interest, $56,683; surplus, $101,986.
R O A D . — See Topeka Railway & Light Co. above.
OFFICERS.— Pres., VV. B. McKinley, Champaign, 1 1 ; V.-P. & Treas.
1.
Champaign; Sec., E. A. MacNutt, Montreal.— V. 81, p ‘
728; V. 82, p. 101; V. 90, p. 915, 978; V. 103. p. 62; V. 104, p. 74.
(25) Wichita Railroad & Light.— Trolley.
O R G A N I Z A T I O N . — Chartered M a y 1 1900 for 30 years. Street rail
way f r a n c h is e expires 1933, lighting In 1919. In 1910 entered into a 20-year
contract for purchase of power from Kansas Gas & Elec. Co.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Comstock, $1,500,000 ($100)....
....... . $300,000
__
300 000
Pref. stock ($100)_________ ____
First mortgage, $300.0001 1900
5 g A-O
300,000
Oct 1919
($1,000), gold.....c. - tf (Int. at Portland Tr. Co., Portl’ Me., Trus.
d,
Rof.&cons.M.,$1,500,000,g.tf.1907
5 g A-O
1,193,000 Oct 1 1932
B o n d s . — 1st M . bonds are subject to call at 105 on 6 months’ notice.
R O A D . — Owns 32 miles of trolley track in Wichita, Kan., Including
double-track bridge over the Arkansas River and extensions to Wonderland
Park and Fair Grounds; 90 cars.— V. 93. p. 941, 1192.
.
CHARLESTON, S. C.
C H A R L E S T O N C O N S O L I D A T E D R A I L W A Y & L I G H T I N G CO.
O R G A N I Z A T I O N . — Incorporated in South Carolina on April 19 191o!
Leases for a period of 99 years from June 21 1910 tho Charleston Cons. Ry..
Gas & Elec. Co. Loase guar. 6 % on pref. and 4 % to July 1 1911, 5 % to
Jan. 1 1913 and 6 % thereafter on com. stock; also int. on outstanding
bonds of the Char. Cons. Ry., Gas & Elec.
R a te s .— A s a rosult of a compromise with the city, cheaper gas, electric
light and power rates were put into effect Nov. 1 1912. V. 95. p. 1206
A p p l i c a t i o n f o r R a te I n c r e a s e . In Mar. 1918 applied to tho City Council
—
for authority to increase gas rates from $1 to $1 10 per 1,000 cu. f . It i
t
s
stated that this company has also applied for an increaso from 5 cents to
6 cents in railway fares.
W a g e I n c r e a s e . — V. 105, p. 2093.
STOCK—
P a r.
A u t h o r i z e d . O u ts ta n d in g . D iv id e n d s .
C o m m o n ................
$50 $1,500,000 $1,500,000
None
Preferred................
50
500,000
500.000
None.
T OFFICERS.— Pres., P. H. Gadsden; V.-P., Walton Clark; V.-P., Lowts
Lilho; V .-P. & Asst. Sec., C. M. Benedict; Sec., G. W. Curran; Treas. I
.
[Vol. 106.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g . M a t u r i t y .
Stock, $1,500,000 ($100)..............
$1,500,000 See text.
Secured notas, $450,000 ($l,-\ 1918
6%
$450,000July 15 1918
000), gold------------- JSafo Deposit & Trust Co., Balt., Trustee
Uan Val Tr 1st M, $2,000,0001 190b
5 g J-J
1.000,000 Jan 1 1
1946
($1,000) goldc------- tf lInt. at Fidelity Trust Co., Phila., Trustoe.
B o n d s . — Payment of prin. and int. of tho Kanawha Val. Trac. Co. bonds
has boon assumed by tho Charleston Interurban RR. $600,000 of the
bonds havo been deposited as security for tho notes issued by tho Charleston
Interurban RR.
N o t e s . — Secured by doposit of $600,000 Kanawha Valloy Traction Co.
1st M. bonds. At maturity the co. may, at i s option, issue an equal
t
amount of similar notes each consecutive 4 mos. over a maximum period
of 1 year from Mar. 15 1918, but noteholders aro under no obligation to
renew boyond the date specified in the note i s l , unless thoy so desire
tef
Red. at 100 and int. as a wholo on any 4 mos.’maturity dato upon 10 days’
notice. V. 106, p. 1125.
N e t (a fte r
E A R N I N G S — G ross.
B o n d . <& .
c
B a la n c e .
C a l. Y e a r —
E a r n in g s .
T a x es ).
In terest.
R e n ta l.
S u r p lu s .
1917........ .$418,855
$156,202
$95,523
$20,000
$40,699
1916......... 326,149
162,602
88,812
20,000
53,790
1915. ........ 245,168
________
111,447
....
..............
55,710
15,000
40,737
R O A D . — Operates 38 miles of track betweon St. Albans and Cabin
Creek. Line I to be extended to Montgomery, about 10 miles further on.
s
70, 80 and 100-lb. T and girder r i . Standard gaugo. 34 passenger cars
al
(26 of P-A-Y-E type),5 freight cars and 2 trail r . Power i obtained from
es
s
tho Virginian Power Co. under favorablo long-term contract.
OFFICERS.— Pres., VV. A. MacCorkle: V.-P.. J E. Chilton: Sec. and
.
Treas., F. M. Staunton.— V. 100, p. 228, 1917; V. 105, p. 1208; V. 106, p.
1125.
.
CHARLOTTE, N. C.
SOUTHERN PUBLIC UTILITIES CO.
Allied with the Southern Power Co., which see in our “Railway and In
dustrial" Section.
ORGANIZATION. ‘
— Incorp. In July 1913 in Maine as a consolidation
of tho Charlotte Electric Ry.. Charlotte Gas & Eloctric Co. and Charlotte
Power Co. (these three forming prior to Jan. 1 1911, tho Charlotto Eloctric
Ry., Light & Power Co., which company issued tho bonds shown in the
table.— See “Electric Ry." Sec. for M a y 1915); Groonvillo (S. O.) Gas &
Eloctric Light & Power Co.; Groonvillo Traction Co.; Fries Mfg. & Power
Co., Winston-Salem, N. O.; Winston-Salem Power Co.; Andorson (S. O.)
Water, Light & Power Co., Chester (S. O.) Power Co., Thomasville (N. O.)
Power Co., Greer (S. O.) Light & Power Co. and Thornton Light &
Power Co. (Hickory, N. O.). Owns entire $250,000 common stock of
the Greonville-Carolina Power Co. (there i also $200,000 6 % cum. pref.
s
stock outstanding) which owns and operates a 3,500 h. p. hydro-electric
plant near Greenville. The Charlotte Elec. Ry. in M a y 1915. through an
amendment in i scharter, reduced i scapital stock from $1,250,000 to $1,000.
t
t
F r a n c h is e s with one minor exception are oither unlimited in time or run
beyond July 1943.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $5,000,000 ($100)..... .............
$5,000,000 ___ _
1st & ref M $30,000,000 gold! 1913
5 g J-J
3,953,000 July l 1943
($1,000,$5,000,&c.)c*&r*.tf/Int. at Farmers’L. & Tr. Co., N Y., Trustoe
U n d e r ly in g B o n d s —
Char Elec Ry, L & P 1st M l 1899
5 g J-J
325,000 July 1 1929
$500,000 g ($1,000) sfc*ntf lint. at Merc. Tr. & Dop. Co., Balt., Trustoo.
Char Elec Ry, L & Pref & ext\ 1906
5 A-O
466,000 April 1 1936
M $2,000,000g ($l,000)c*tf/lnt. at Merc. Tr.& Dop. Co., Balt.,Trustee.
Fries Mfg & P 1st ” gold!' 1900
M
5 g J-J
'“
^
- -489,000 Jan 1 1940
($1,000) optional at 110__ (Int. at Equitable Tr Co., N. Y., trustee.
Anderson Water Lt & P Co_______
______
382.500 ........
Winston-Salem Power C o ___ ____
______
54,000 .........
B o n d s o f C o n tr o lle d , & c . , C o s .
—
Greenv-Caro Power 1st M gl 1905
5 g M-N
_ _______ _ 1
_
_
278,000 M a y . 1935
($1,000) ------------ tf/Int. at Old Colony Tr. Co., Boston, trustoo
B o n d s . — Of the 1st and r f bonds, $1,567,500 aro rosorvod for prior liens;
e.
remainder issuable for 70% of cost of oxtonsions and acquisition of othor
properties. Redeemable in whole or In part at 105 and Interest. Tho
Charlotte Electric Ry., Light & Power 1st M . bonds have a s in k in g f u n d ,
operative July 1 1900, of 1 % of bonds out; to bo invostud in bonds drawn
by lot at 107><J and i t., i not obtainable at lower figuro in open markot;
n
f
$45,000 have been canceled. The re . and ext. mtge. bonds have a s in k in g
f
f u n d operative April 1907 of 1 % of bonds issued, for purchaso of bonds at
10713 and i t., i obtainable: otherwise, such investments as trustoe deems
n
f
propor. V. 88, p. 1252. $19,000 havo boon retirod. A s in k in g f u n d of
1 % on the Greonville-Carolina Power Co. bonds bogan M a v 1 1910.
E A R N I N G S . — For years ending Sept. 30:
1914-15.
1915-16.
Gross income............................. .$1,554,837 $1,740,199
Net, after taxes.............................
568,229
686,026
Interest on $5,520,500 outstanding bonds__________________
279,070
°- °- T » leK A ““ - c "“ - '• ■ « < •
>»>•
(1) Charleston Consolidated Ry., Gas & Electric Co.
^.
v OI?G ^ NI^ T iPN - Paganized Feb. 21 1899 as a consolidation of the
—
Charleston City Ry. and Charleston & Seashore RR. under Special Act of
8°. Oar. Legislature, granting perpetual charter and gas & elec, light powers.
In Oct. 1912 sold to James Sottlle the Seashore division, incl. wharf prop
erties, ferryboats, the railroad line from Mt. Pleasant to the Isle of Palms,
with I s equipment, and the power house on Sullivan Island. Sale was auth.
t
by an Act of the Legislature approved Feb. 12 1913 and formal transfer
was made Mar. 15 1913. V. 96. p. 862. See Charleston-Isle of Palms
Traction Co. below.
Surplus... .............. ........................ $406,956
F r a n c h is e s are perpetual. Also owns the capital stock of the Charleston
Earnings of tho four street railway systems for tho year end. Sopt. 30
Go- (3698,150) and the Charleston-Edlson Light & Power Co.
1917 were gross, $641,448; net, after taxes, $187,669.
In Charleston**^ yhUg2 C0ntyg^ tho whole field of light and transportation
P R O P E R T Y . — Operates 70 miles of streot railway; 60, 70 and 90-lb. T
al;
t
On March 18 1914 shareholders authorized the Issue of $500,000 new com and girder r i s gauge, 4 f . 813 in. Power and light primary linos aggre
gating 1,644 miles and sorvlng 16 communities; 2 gas plants, sorvlng Char
mon stock. V. 98. p. 999. 610.
lotte and Greenville with 87.5 milos of mains; water plant sorvlng Andorson
„ STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a t u r it y .
with 26 miles of mains. Leases Savannah Powor Oo/s plant near Anderson;
Stock, com, $3,000,000 ($50).___
Q-J
$3,000,000 See text.
capacity, 3,000 h.p. Total capacity of plants oporatod, 24,000 h.p., of
Pref 6 % cum, $500,000 ($50).....
Q-J
500.000 See text.
which 19,000 h.p. I hydro-olectric generation. Also has favorable con
s
Charleston City f
irst rntge^ 1898
5 g J-J
710.000 Jan 1 1923 tract with Southern Powor Co. for the purchase of additional power.
($1,000), $850,000 goldctf (Int. at Merc. Tr. & 3 . D. Co..Balt.
OFFICERS.— Pres.. Z. V. Taylor; V.-P., A. V. Uarrill; Soc., W. O.
Conso1 mtge, gold $2,500.-1 1899
5 g M-S
1,759,000 Mar l 1999 Parker; Treas., E. C. Marshall: Gen. Mgr., E. F. Taylor.— V. 97, p. 241.
000. coupon ( $ 1 . 0 0 0 ) (Interest at Baltimore Trust Co., Trustee 180; V. 101. p. 1886; V. 104, p. 1046.
P
Holders can also collect coupons at Carolina Savings Bank and People’
s
National Bank. Charleston, i presented before tho 10th of tho month.
f
PIEDMONT & NORTHERN RY.
B o n d s , -Of the consolidated 5s, $710,000 are reserved to retire a l k *
—
if
T
Feb. 24 1911 In
on
amount of City Ry. first 5s. Charleston City 1st 5s have a sink, fund of orO R G A N I Z A 1 I O N . — Incorp. on properties of thoSouth Carolina, andCo.
about July 1914 took over the
Piedmont Traction
n? ^ xceed n? 37,350 per ann. for the purchaso or redemption of said bonds and the Greenville Spartanburg & Anderson Ry. Co. Tho system as pro
.
at lOo and Interest.
Jected I to extend from Durham, N. O., to Greenwood, S. O., 320 milos.
s
D iv i d e n d s . See dividends guaranteed under lease above.
—
Power I obtained from Southern Powor Co., which I controlled by the
s
s
ROAD,&c.— Owns 37.51 miles of electric road In Charleston. The com 1same Interests.
pany has consolidated I s two power stations; both railway and light and
t
h°(ver dlvisions are being operated from same station.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
OFFICERS.— Pres., Philip H. Gadsden; V.-P., Theo. W. Passailaigue; Stock $15,000,000 ($100)... ............. $8,581,600 ..........
Sec. & Troas., Chas. J. Bendt; Asst. Sec.-Treas., M . C. C. Tossier, a l or Fi«l; mortgage S50.000.000/ 1914
l
5 g J-J
40,500 July 11954
($1,000), gold-----c* ntfl Int. at Farmors’Loan & Tr. Co., N. Y., trus.
Charleston. Offices, No. 141 Meeting St., Charleston.— V. 105, p. 1707.
1st
$ 8 . 5 0 0 . 0 0 0 j 1914
5 g J-J
6,286,900 July 1 1919
g ($1,000 & $100) not Interlint, at Farmers' Loan & Tr. Co., N. Y., trus.
C H A R L E S T O N - I S L E O F PALAIS T R A C T I O N CO.
S to c k . — $1,415,400 additional stock I hold in treasury.
s
•
— U lcorp. In S. O. Jan. 9 1913 with auth. capital of
B o n d s . — $10,000,000 aro piedgod as socurity for the $8,500,000 notes.
$1 ,
000,
000, to build railroads, steam or electric, street railways, « c ,
&.
operate steamboats, and to take over what was formerly the Seashore Rod. at option of co., in whole or part, any int. dato sinco July l 1914 at
105
Of tho notes $500,000 aro plodged as collateral and
division of the Charleston Consol. Ry., Gas & El. Co. Also does electric aro and int. treasury: those roportod outstanding, l i stated, $1,713,100
held in
t s
havo boon
lighting business.
_ ® O A D , &c.— Owns 10 miles from Mt. Pleasant (connecting by ferry with taken Drivately by tho subscribers to tho road.
E A R N I N G S . — For cal. years (1916 report in V. 105, p. 2366):
Charleston) to Sullivan’ Island and Isle of Palms, a pleasure rosort on
s
C a l.
G ro ss
N e t (a ft e r
O th er
In terest, .
B a la n c e ,
the Atlantic Coast, incl. land at Isle of Palms, ferry, power house on
Y ear—
E a r n in g s .
T a x es ).
In com e.
& c.
S u r p lu s .
Sullivan s Island and sub-station at Mount Pleasant, &c. Owns and oper
ates 19 pass, and 3 freight cars and 2 ferry boats.
1916.... $1,224,159
$5i8,595
$9,653
$346,023
$182,224
398,287
11,073
346,749
62,611
OFFICERS.— Pres., James Sottlle: Chief E5g., W. W. Fuller; Charles 1915 .... . 1,010,547
ton.— V. 96. p. 201, 862.
R O A D . — Owns and operates 2313 milos from Charlotte to Gastonia,
89.90 milos Spartanburg to Greenwood, S. O., with branches from Bolton
to Anderson, 11.30 milos, and from Belmont Jet. to Belmont, 3.19 miles
(oponod March 1 1916). total rniloago of track operated, incl. spurs and sid
CHARLESTON, WEST VIRGINIA.
ings and 9.50 miles operated under contract, 201.58. A contract has beon
let for the building of a 2-rnilo spur from Spartanourg to C a m p Wadsworth.
C H A R L E S T O N I N T E R U R B A N RR.
Equipment consists of 23 motor-drlvon passenger cars; 8 trailers, 2 obser
O R G A N I Z A T I O N . — Incorp. in 1909 with $100,000 capital stock which vation
and express cars, 158 froight cars, 3 street
was Increased on Nov. 10 1914 to $1,500,000 in part for the purchase of cars, 12parlor cars, 8 2 baggageengines and 10 work cars.
electric and stoam
the Charleston Traction Co., a line from St. Albans to South Charleston
OFFICERS.— Pros., J. B. Duke. N. Y.;
V.-P. &
taken over as of that date, and In part as a stock dividend, a l earnings for Gon. Mgr., E. Thomason; Sec., N. A. Cocko; V.-P., VV. S. Lee; L. Black,
l
And. & Treas.. T.
four years having gone into extensions and betterments.
a l of Charlotte.— V. 104, p. 1490, 2006; V. 105, p. 2366, 2453.
l
L e a s e . Leases the Kanawha Valley Traction Co. (whose $500,000 capital
—
stock I owned by the Ohio Valley Electric Ry.) for 99 yoars from Jan. 1
s
1910 at an annual rental beginning with $10,000 tho f r t year and In
is
CHARLOTTESVILLE, VA.
creasing to $20,000 In 1916 and thereafter, and has assumed that company’
s
CHARLOTTESVILLE & ALBEMARLE RY.
1st M. bonds.
O R G A N I Z A T I O N . — Organized In Virginia and formed by an agreement
F r a n c h is e of the Traction Co. in the city of Charleston expires In 1954; of consolidation dated Nov. 24 1913 between the Rodland Power Corpora
interurban lines are operated almost entirely on private rights of way.
tion and the Charlottesvlllo & Albemarle Ry. A lighting and power com
In Mar. 1918 issued $150,000 4 mos. secured notes to rotiro $300,000 pany with a short Interurban railway as an adjunct. Light and power f r a n
3-year notes duo M a y 1 1918, and to fund other indebtedness. V. 106, c h is e s are porpotual; County Ry. franchises aro pcrpotual, whllo city fran
p.1125.
chise expires In 1944.
Ma t , 1918.]
E L E C T R IC R A IL W A Y S .
F a r e I n c r e a s e .— O n Apr. 16 1918 was auth. by tho Va. Corporation Comm,
to eliminato f n O-for-a-quartor tickets and to increase workingmen’ and
co
s
school children’ tickots from 2 1 4 cents to 3 cents. V. 106, p. 1688
s
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
C o m m o n stock $500,000 ($100)......... ....
$500,000 Dec T7 2 “
J-D
122,700 Dec ’ 3
17
Prof stk 7%cum$200,000($100)___
First mortgage $750,000 soldi 1915 6 g A-O
376,000 April 11943
($1.000)........... c*cpt/Interest payable In Baltimore, $ d
B o n d s . — Additional bonds may bo Issued only for 8 5 % of cost of impts
and oxts. and only whon not earnings for the past 12 months aro equal to
twice the Interest charges on the bonds outstanding and those to bo issued
A special depredation and reserve fund I provided out of gross earnings
s
for maint., &c. $24,000 (not incl. In amount outstanding) aro held in
tho treasury. lied, at 105 and int. on 60 days’ notcc . V. 100, p. 1436.
D iv i d e n d s .— 7 % per ann. I Doing paid on prof, stock. O n common f rst
s
i
25
B o a rd o f Operation.— Chairman Henry A. Blair, Leonard A. Busby.
FrZk*0° wYtmo’
roVal aC0 Heckman- Harrison B. Riley, John M. Roach.
k X U ? % £ f nm H te e -— ^
^ f
a * r d A - Busby, Chairman; Henry A. Blair.
OFFICERS.— Pres.. L. A. Busby; Sec. & Asst. Treas., F. D. Hoffman*
Treas., M . B. Orde; Gen. Aud.. Jno. J. Duck.
man’
C O N N E C T I N G RYS.— A collateral trust.
Formed in 1910 under a trust agreement, to take over the stock of the
Chicago City R y . together with the securities of the Calumet & South
,
Chicago Ry., the Southern Street Railway, the H a m m o n d Whiting & East
Chicago Ity. and the Chicago & Western. These properties comprise ap
proximately 503.5 miles of street railway in southern division of Chicago
T MoV& Trust C o 6 0UtUne of plan In V. 90, p. 558, 625. Trustee. Chicago
On April 19 1913 the 1 1 Supreme Court affirmed the decision of the
1.
u?e
£
Cook County
Clarence H. Venner
SV
iM7??n£2>&?5te.?»1s!” ,U” 1916'
U" ' 1916
'2V‘ % which u Coortof the agreementIn the suit brought bycreating the Chicago
held valid
dated Jan. 1 1910,
E A R N I N G S . — For years ending Dec. 31:
City and Connecting Rys. Collateral Trust (V. 96, p. 1364, 1627). An
Y ear—
G ross.
N et.
O th er I n c .
C h gs.
P r e f . D i v . S u r p lu s
appeal was taken to the U. S. Supreme Court, but in Nov. 1914 suit was
1917 .— $120,120
$60,279
$264
$29,236
$8 589
$22719
dismissed. See “Chic. City Ry.’ n V. 99. p. 1527.
M
1916--- 114,819
63,600
495
28,072
8 589
27434 P r o p o s i t io n to U n it e S u r fa c e a n d E lev a ted L i n e s . — See “Chicago Elevated
1915--- 103.383
55,232
643
26:603
6 567
22705
Rys. below and statement by Chairman Riioy in V. 104, p. 72.
cn? P ArP’_:¥ne' of tFack’ 3.45; standard gauge. Rails, 83-lb. girder and
'
s
S T O C K A N D B O N D S — D a te . In terest.
O u ts ta n d in g .
50-lb. T. 12 cars. 1 power station.
M a tu r ity .
s-a 150,000 shs.
OFFICERS.— Pres., Frederick C. Todd: V.-P., John L. Elvers; Sec. & C o m part certs 150,000 shares.___
See text.
Pref part certs 250,000 shares.___
s-a 250 000 shs’
Treas., W. R. Morton.— V. 103, p. 2428; V. 106, p. 606, 1688.
Jan’
18,$14i
Coll trust mtge $22,000.000f 1910 5 A-O
$21,456,000
s
Jan , i ,*,
1 1927
gold sinking fund c*&r*tf/int. at 1st Tr.&S.B.Chic., Trus., or InN. Y
/a r t ic ip a t io n C e r tific a te s . — Preferred participation shares have no par
CHICAGO, ILL.
A U R O R A E L G I N & C H I C A G O RR.— Third-rail electric and trolley. value but are entitled to preferential cum. divs. aggregating $4.50; also,
. 9-5,°A N A. l O N ITT1^ consolidation In April 1906 of the Aurora Elgin after com. partic. shares shall have received $4 in any year, the remaining
,
r
& Chicago R a ilw a y , the Elgin Aurora & Southern Traction Co. and the surplus not exceeding in any year $1,000,000. shall be paid ratably, V. to
X *° com., but
no
certfs. be entitled to
Cook County & Southern RR. V. 82, p. 279, 691, 1155. Chartered In RTef’ $7 each per annum;inalsocase will the pref. upon distribution of more
have preference
trust
Illinois under law applying to steam railroads. Pres. E. J. Wolf, in a letter than
fund to
dated M a y 20 1909 (V. 88. p. 1618), stated that system I “In the main on Chicago the amount of 8100 each and accumulated dividends. Listed on
s
Stock Exchange.
private right of way or protected by 60-year fr a n c h is e s or grants without
tlonds.— Coupon bonds In denom. of $1,000; registered bonds $1,000 or
Itl.
RtG
JJoes freight ana express as well as passenger business. V. 83.
p. 490. Has exclusive contract with the Metropolitan West Side Elevated multiples. A sink, fund of $105,000 of bonds p. a. began Mar. i 1915.
Bonds are redeem, for the s f , or as a whole, at 105 and int. $544,000 re
. .
to operate over i s tracks.
t
Stockholders voted Oct. 18 1910 to purchase tho Chic. Wheaton & West deemed as of Feb. 1 1918. In case of purchase of property of the Chicago
R y Cl, o f Chicago, or termination of trust agreement of Jan. T
ty
ern Ry.. which runs from West Chic, to Geneva, abt. 10 miles. V. 91, p.517
F a r e s . — On Feb. 1 1918 tho 1 1 P. U. Comm. auth. an increase in faro of 1910, then bonds are redeemable at par and accrued int. See V. 90, p. 558.
1.
'exchanges. V.94,p.1118
5 cents on the co. s lines between Aurora and Chicago and botween Aurora 625. Bonds aro listed on N. Y. and Chicago stock ’
S tock s a n d B o n d s D e p o s i t e d to S e c u r e th e C o ll. T r . B o n d s .
and Batavia, and a straight 5-cont faro within tho city limits of Aurora
„
S tock s ( p a r ) .
and Elgin. Iho question of eliminating a l 6-for-25c. and 7-for-25c
l
a B o n d s (p a r )
Chic. City Ry.
------------- $16,971,900
tickets was loft for later decision. V. 106, p. 714.
None
Calumet & South Chicago R y ...... *10,000,000
STOCK A N D BONDS—
D a te .
In terest.
O u ts t'd 'g . D i v . A d u e d a te
Southern Street R y ______________ *2,400 000
Common, $3,lO EOOO ($100)-----Q-J
$3,100,000
Soo text.
H a m m o n d Whiting & East Chic. Ry._ *1,000,000
*1.000,000 1st 5s
Pref $3,100,000($100) 6 % c u m --Q-J
3,100,000
See text
*72,000
First and refunding mortgage/ 1906
5 g J-J ’ 3,079,000 July 1 1946 Chicago & Western_______________
$15,000,000, gold ($l,000){lnt. at Clt. Sav. & Tr. Co., Clovo., and also
Total,— -.....................$30,443,900 $1,000,000
See text------- c*&r*tfI In N. Y. Trustee, North. Tr. Co.. Chic
* Entire issue.
Coll trust notes$800,000 red. 1 1915
6 g Q-M
800,000 Juno 1 1918
a Under provisions of the trust mortgage these respective Issues of bonds
at 101-10044-------- -/Oitizons’Savings & Trust Co., Clove.. Trus
each as an entirety may be converted into capital stock of the respective
A E * ° R y f r t mortgage/ 1901 5 g A - 0 15 2,649,000 Apr 15 1941 companies to an equal amount.
ls
$3,000,000 ($1,000), goldjAmer. Tr. & Sav. Bank, Chicago*, Trustee
D iv id e n d s . O n pref. part. ctfs. $2.25 per share was paid seml-an.
—
cannot be called------tf (Interest payable In Chicago and N e w York
from June 1910 to and i c . July 1914. In 1915.
l
50. In 1916
Elgin Aurora & Southern first/ 1901
5 g J-D
1,546,000 June 1 1919 In 1917, Jan., $2 25 (V.n 104, p. 72); July, $1 50.$2In 1918. Jan.,’ 81 75
SI 5o!
mtgo, $2,000,000 ($1,000){Int. at Amer. Tr. & Sav. Bank Chicago On common participating certificates $1 per share was paid semi-annually
gold, sinking fund--- c*tf t Trustee, and First Nat. Bk. N. Y City
from June 1910 to and including July 1912. None since.
S to ck . — Pref. stock was 5 % cum. until April 1 1909: sinco 6 % cum
R E P O R T . For calendar year (V. 106, p. 497):
B o n d s . — Of tho $15,000,000 (originally $25,000,000, but reduced In 1910) C a l. ------ I n c o m e - ------B ond
B on d
O th er D iv s . o n S u r p .
1 st & ref g bonds, $1,599,000 areintreas..$4,195,000resorvedforprlorliens
D iv s .
O th e r .
G ross.
I n t e r e s t . R e d e m p . D e d . P a r t .S h s . I n c .
and tho balance for Improvements, extensions and self-supporting acoulsb Y r .
$
■
S
S
S
g
j
?
e
tions, under rigid restrictions. They are not subjoct to call now
See V
88, p. 1618. Collateral trust notes aro secured by deposit of $1 067 000 1st 1917.1,916,831 124,020 2,040,851 1,078,315 105,000 81,346 750 000 26 190
1»]«-1.079.751 120.918 2.100.669 1,087,209 105.000 71.938 812,500 24.022
and ref. mtge. 5 % bonds. Int. payable In N. Y. and Cleveland V 100
P- 811. These notes originally f l duo Mar. 1 1918, but wero oxtonded to 1915-1,704,352 110.811 1.815,163 1,094,750 105,000 58.114 500,000 57.299
el
C om rn itte e . Chairman, Harrison B. Riley, S. M . Felton, James B. For—
Juno 1 1918 with option of further extension to Sept. 1 1918 On tho
Aurora Elgin & Chicago Ry. a sinking fund of $50,000 per annum began on gan, John J. Mitchell. Samuel Insull, John A. Spoor. B. E. Sunny. E. K.
April 15 1911. See V 74 p. 726. $351,000 have been retired The E E Boisot and L. A. Busby.
OFFTCEKS.— Sec. & Treas., W . W. Crawford; Aud., W . W. Hill.—
gin Aurora & South bonds originally matured Juno 1 1916, but wero o x
tended to Juno 1 1919 unless sooner red. by co. at .$1,005 per bond; remain V. 105, p. 2455; V. 106, p. 188, 497, 924.
ing $454,000 held in sinking fund.
( ) Chicago City Railway.— An electric road.
1
, , P ^ Uten(i s -n ~ F lr a t dIv,d0Ild on pref.— 144%— paid July 1900 (V. 82. p.
U n ifie d O p e r a tio n o f S u r fa c e L i n e s . — S e e “Chicago Surface Lines” for
1436), and the same amount quarterly up to and Including April 1909
details or unification ordinance under which the lines of this company
July 1909 dividend increased to 114 % and same amount paid ouar to are operated jointly with those of the Chicago Railways Co. as a single Sys
Aug. 1 1915. Oct. 1915 div. omitted/#. 101, p. 1012) Z i n ^ n e pal since tran under the control of a joint Board of Operation. For plan to unite the
On common, first dividend— % % — Oct. 7 1907. In 1908 to 1913 inH
surface and elevated lines see “Chicago Elevated Rys.”
O R G A N I Z A T I O N . — Incorporated in Feb. 1859, and has extensive sur
V
1
(V. ft/'/soY1 968), and nouo paid 1/
90, p. 894, $ 8 sinco. July. M % ; O c t f f l *
face road privileges in the south division of Chicago. In June 1908 entered
into a contract with the Commonwealth-Edlson Co., by which tho Chicago
R E P O R T . — For year ending Dec. 31 1917 (V. 106, p. 1571):
t y vJ,,
oagr£<3 to J uy a 1 of i s electric power from that company until
,r
?
1
t
“.n®
u ,
• The railway has abandoned i s producing plants but retains
t
Y e a r e n d in g
E a r n in g s . Nf a x e s ) ? I n c o m e . l i o n s '
d ead 's.
fo r Y ear
i s distributing plants. V. 87. p. 1010.
t
N e w O r d in a n c es a n d F r a n c h is e s . On Feb. 4 1907 the City Council passed
—
Nono sur.114,589 ordinances providing for a settlement of tho franchise question. These
Juno 30 1916-- 1,950,510 651,008
257 489,210
Nono sur. 162,955
June 30 1915-- 1,968,137 608,790 1,091 443,438 186,000 dof.19,557 ordinances were approved at the city election on April 2 1907 and formally
s
Juno 30J914-. 2,094,157 697,365 2,027 418,759 219,000
sur.1,033 accepted by the company’ board of directors on April 15 1907. Suit to
,
^ ’ Operates from 5th Ave. station in City of Chicago, over tracks set aside franchise was dismissed ln April 1912. V. 94, p. 1118. An ex
of Metropolitan West Side Kiev. road, to 52d Ave., Chicago; thonco on i s tended outline of these ordinances, one to the Chicago City Railway Co.,
t
own line to Wheaton, with lines from Wheaton to Elgin, Batavia Genova and covering the lines operated by that company, and the other to the Chi
and Aurora; also from Elgin to Carpentersvillo, Dundee, St. diaries cago Rys. Co., and covering tho lines of the former Chicago Union Traction
0-(n ? the Chicago Railways Co.), was given in V. 84. p. 1123. The value
<w
Geneva, Yorkvillo and Bristol, and a lino from Wheaton through West Chl- G,
or the tangible and intangible property of the Chicago City Ry. at date of
t0 Genova. Total single track. 169 miles. Third r i , standard T
al
100 l
bs.; track r i s 80 lb . interurban and city lines, 60-100-lb. ’ and girder the ordinances was fixed at $21,000,000. The city or any company aual.
s;
1’
t a
r i s 142 passenger cars; 7 express cars; 6 snow plows and sweepers4 7 misc tnorlzed by I l given the right on Feb. 1 or Aug. 1 of any year, on six
al;
months notice, to purchase the entire property of the two systems, or either
caS?i,3 ZJ^0,
Kht cars; total cars, 2 10 .
of them, at their value at date of ordinance, plus “the cost of rehabilitation
OFFICERS.— Pres., E. J. Wolf, Cleveland; V.-P„ M . J. Mandelbaum;
and extensions. Including fair allowances for construction, profit and
V.-P. and Gen. Mgr.. Edwin O. Faber, Wheaton, 1 1 ; Sec. and Treas.
1.
f
H. O. Bang, Cleveland: Asst. Sec., A. Born; Asst. Treas., II. ,. Manning’ brokerage . But i the properties are acquired for operation by a pri
T
t
s
Executivo offices^Guanlian Bldg., Cleveland, Ohio.— V. 105. p. 2454; vate corporation, for i s own profit, the purchase price i to bo Increased
2 0 % — barring the case of a private company which might be willing to
turn over to the city a l profits above 5 % on tho cost of the Investment.
l
C H I C A G O .SURFACE LINES:
The companies are limited during their operation to an interest return
Under the ti l of Chicago Surface Elnes tho properties of tho Chicago or 5 % upon tho agreed value plus the cost of rehabilitation and exten
te
Railways Co. and the Chicago City Railway Co. aro now being operated sions. All net profits above this are to be divided on the basis of 55%
as a single system under the control of a joint board of operation in accord to the city and 4 5% to the companies, but a deficit In any year I to be
s
ance with an agreement between tho two companies and tho unification mado good out of the profits of subsequent years. After April 15 1910 the
ordnance which became effective Feb. 1 1914. While under tho terms of companies are required to set aside 6 % of the gross receipts for maintenance
this ordinance and the agreement the ownership of the properties romains and repairs and an additional 8 % of the gross receipts to cover renewals
entirely separate and distinct, the combined earnings are divided upon an and depreciation. Whatever portion of tho two funds I not used remains
s
agreed basis. For the two years ending Jan. 31 1916 tho Chicago Railways In the funds and passes to the city or i s licensee upon purchase. But i
t
f
Co. received as I s share 59% of tho Income remaining after tho pay- the two funds are not sufficient for the purposes named, the companies
t
H
™ P uns* including taxes and maintenance, thO other aro obligated to supply additional funds. The franchises granted by the
es’
41/6 of the incomo going to the Chicago City Ry. Co., including tho
Feb. 1 1927. Purchase prlco of the property Jan. 31
Calumet & South Chicago Ry. and the Southern Street I
iy., and, bogin- 1J11 «pOut l O|uUU•
41
U/
YYP aim unt. tho e^pRatlon of i s franchise la 1927, the
t
On Jan. 29 1912 City Council passed an ordinance providing for the ac
Railways Co. will receive 6 0 % of tho so-called "residue receipts," quisition by Chicago City Ry. of city lines of the Chicago & Southern Trac.
aad the Chicago City Ry. (including tho Calumot & South Chicago and
iV# 94.P.349. 629. The latter was sold at foreclosure in Feb. 1912.
,
tho Southorn Street Ry.), 40%. Tho plan provides for a 5-cout fare The lines outside the city were taken over by the Chic. & Interurban Ry.
D e c i s i o n a s to R e g u la t i o n . — See “Chicago Surface Lines.”
nur?«l
inn0nf Yhn
nosA also through routing of cars from one
division of the city to another. See details of tho ordinance and the
P. U. Com m , has auth. tho co. to issuo $2,000,000 additional bonds for
agreement for unified operations under date of Doc. 1 1913 in V. 98, p. impts., &c.
1®93. An order permitting the State Attorney to f l quo warranto proie
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g . L a s t D iv ., A c .
M^Z?19*15 <1UV 10 0 ^ 10 1078 ty
unification ordinance was denied In Stock $18,000,000 ($100)---- TextQ-M30 $18,000,000 M a r ’
18,2%
1st mtge ($1,000) g..c*&r*tf/ 1907
5 g F-A
33,900,000 Feb 11927
c S o St e a t e d S t l i v f e ^ e a"d K lev a led “ n e s . - S e o remarks under AT .
’
., T o,
(First Trust & Sav. Bk.. Chicago, Trustee.
_______
1,200,000 _________
A p p l i c a t i o n to C a rr y f r e i g h t .
—
under "Chicago Elevated Rys.” - Notes payable Jan 31 1918__ ____
B o n a s . — Tbere i no limit to the amount of bonds that may bo issued
s
.
,
ttP h P i
h
-V17 th° ln- Supreme Court uphold tho right of under the above mortgage. Under the Chicago city ordinance, in case of
tho Stato 1 ubdc Utilities Com m , to regulato street car service in Chicago purchase by the city or i s licensee, and only In such case, tho bonds may be
t
rogardlcss of the provisions of tho contract ordinances of 1907 botween tho
a
Chicago City Council and tho surface lines. Pursuant to this opinion a called as V.whole, for payment at par and int., on any int. date before maurlty.
84,
decree was entered bv tho Circuit Court of Cook County in favor of tho \V •uo, p. ooo).p. 1488,1550. Bonds are listed on Chicago Stock Exchange
Comm., which was affirmed by the 111. Supremo Court. An appeal taken
to tho ( . S. Supremo Court i s i l pending.
J
s tl
11
,«S.I V I D E N D S - In 1893, 24%; 1894-1900. 12%; in 1901, 1 0 H % : In
—
1902-09, 9%; in 1910,16%: in 1911. 1 1 H%: in 1912, 11%; in 1913, 1044%.
R E P O R T . — Of entire system for years ending Jan. 31*
>7 *
9)4%; in 1917, 8 % and J4 %lextra in
Y e a r e n d in g
C r o s s O p e r a tin g
R e s id u e
-------- O f W h i c h t o --- D c c ^ / i 19 L / M a r * ’ ‘' ’ **
•fan. 31—
E a r n in g s .
E xp en ses.
R eceip ts. C h ic .C .R y
C h ic R us
R O A D . &c.’ l c . Southern St. Ry.).— Company
1917-18....*35,114,633 $23,101,696 312,01^.937 $4,805,175 $7.207 762 slnglo trach, a l( n l operated by electricity. System owns 348.08 miles of
l now
covers the South Side
191®-17..... 3-l.789.636 21.743.523 13,046,113
5,218,445 7,827,668
extending from the centre
1915-16---- 31,690,761 21,041,356 10,649 405
4 3G6 256 6 283 149 of Chicago,between the South Branch of tho business district south to 79th
of the
and the Lake
1914-15.... 31,960.048 19,889,275 12.076,773
E O S ! # ? 7:125.290 Street and . — For 12 months ending Jan. 31 Chicago River106, p. 1223.
REPORT
1918, see V.
E L E C T R IC R A IL W A Y S
26
The combined results of the "Chicago Surface Lines under the Unifica
tion Ordinance, which went into effect Feb. 1 1914. were: Gross, $35,114,
638: operating expenses, 323,101,696: residuo receipts, 312,012,937.
I n c o m e A c c o u n t C h ic a g o , C U y R a il\ ^ 1 7 _
1915_10.
Proportion of residue recolpts______*34,805,175 *35,218,445 *34,366,256
Joint acc’ exp. int. on cap. inv. and
t
South St. By. net earnings______ 3,661,806
3,616,0-3 3,500,467
Net earnings____________ -___ 81,143,369 31,602,422
3865,789
loi’
non
gaq’ t f
fOi
City’ proportion (55%) — -......
s
Company’ proportion (45%)......
s
514,olC
721,090
'n ’
| 7 qns
Interest on capital.x____________
2,623,510
2,558,167 2,507,908
Income from operation-------- 33,138,026 $3,279,257 $2,897,513
58,358
88,244
81.582
Other income...................
Net income__________________ i>3,196,384 $3,367,501 $2,979,095
Interest on bonds_______________ 31,695,000 $1,617,791 Sl,o65,555
Dividends..... .......... . (8&) 1,575.000(9 H ) 1665000 (8)1.440.000
Balance_____________ ________ def.$73,615 sur.384,710 def.$26,460
* Representing 4 0 % of residue receipts in 1917-18 and 1916-17, against
^x °The "interest on capital investment” i that certified by board of
s
supervising engineers, as provided by tho ordinance of Feb. 11 1907.
OFFICERS.— Chairman fix. Com., and Pres. L. A. Busby; VicoPres., H. B. Fleming: Sec. & Treas.. F. D. Hoffmann: Aud., John
J. Duck.— V. 105, p. 1103, 1208, 2455: V. 106, p. 601, 924, 1223.
(2) Calumet & South Chicago Ry.— Electric.
„ ,
U n if i e d O p e r a tio n o f S u r fa c e L i n e s . — See "Chicago Surface Lines for
details of Unification Ordinance of 1914, under which the lines of this com
pany are operated jointly with those of tho Chicago Railways Co. as a sin
gle system under tho control of a joint board of operation.
O R G A N I Z A T I O N . — Is a consolidation formed in 1908 of tho Calumet
Electric Street Ry. and South Chicago City Ry. in accordance with the
terms of ordinance passed by the City Council Mar. 30 1908. Lines
are located in tho south division of the City of Chicago. The ordinance
grants fr a n c h is e s until Fob. 1 1927 and provides that the city i to recoivo
s
65% of not receipts after allowing for operating expenses, taxes and de
preciation and 5 % on present valuo. together with amounts expended ror
improvements and extensions. Unification ordinance of 1914 establishes
a 5-cent fare and universal transfers. City may purchase property on
Feb. 1 or Aug. 1 of any year upon sLx months’ notice for present valuo.
which i ftxod at $5,000,000, plus amounts expended for improvements,
s
additions and extensions, but only for municipal operation, where purchase
i made prior to Feb. 1 1927. with an addition of 2 0 % in price, city may
s
also purchase for the purpose of turning property over to other parties ( f
I
purchased for Chicago City Ry. only 12% additional need bo paid), but
this additional sum need not be paid where these other parties agree to pay
over to the city a ll of the profits above 5 % on the purchase price. V. 86,
p. 1223. On Jan. 31 1918 certified value of property and additions thereto
was 310,885,515
STOCK A N D BONDS—
D a te . In te re s t.
O u ts ta n d in g .
M a tu r ity .
------*1 9*900.000 . . . . . . . . . .
Stock. $10,000,000 ($100).
First mortgage rehabilitation ( 1908 5 g F-A
0,355,000" Feb l 1927
($1,000) gold, no s fc*&rtf lint, at First Tr. & Sav. Bk.. Chic.. Trustee.
NovCs payable. Jan. 31 1918------t -- ,j
500.000 — ------B o n d s . Tho issue of 1st ratge. bonds I indeterminate, amount to be
—
s
limited to amount of new work done on property. They are subject to
call at any int. date before July 1 1912 at 105 and i t ; thereafter only in
n.
caso city shall purchase property at par and Int. on any int. date. N o s id.
.
E A R N I N G S . — For years ending Jan. 31:
4
Y e a r e n d in g
* In t. on
O ther
T o ta l
B on d
D ie s .
B a la n c e ,
J a n . 31—
C a p ita l.
In com e.
In com e.
In terest.
Raid.
S u r p lu s .
87,742
1917-18____ $535,682 $13,310 $548,992 $266,250 8275,000
1916-17.... 518.869
25,864
544,733
266.250
250,000
28,483
♦ Representing company s proportion of 4 1 % of Chicago Surface Linas
residue recolpts pursuant to unification ordinance effective Feb. 11914.
R O A D . — Owns and oper. 123.10 miles of track reaching South Chicago,
Pullman. West Pullman, Auburn Park, Burnside and Manhattan Beach.
Also extends from Jackson Park to 106th St. and the Indiana State lino
along Lake shore and both sides of Calumet River. 70,75, 83 and 85-lb.ralis.
OFFICERS.— Pres.. L. A. Busby; V.-P.. W . VV. Crawford: Sec. & Treas-.
F. D. Hoffman; Aud., John J. Duck.— V. 98, p. 1243,1603- V. 100, p. 1831.
(3) Southern Street Railway Co.— A trolley roacL
U n if i e d O p e r a tio n o f S u r fa c e L i n e s . — See “Chicago Surface Linos
for
details of Unification Ordinance of 1914. under which tho linos of this com
pany are operated Jointly with those of the Chicago Railways Co. as a sin
gle system under the control of a Joint board of operation.
O R G A N I Z A T I O N . — Incorporated in Illinois as a reorganization of the
Chicago General Uy., which was bid in at foreclsoure sale on Sept. 30 1907
by tho Southern Street Railway Co
V.85,p 863.
Stock outstanding (par $100) $2,400,000. B on d s issued undor 1st ratge.
of 1909 wore from time to time canceled and stock issued In exchange. No
bonds now out.
.
_ _
_
„
E A R N I N G S . — Included In statement of Chicago City Ry.
R O A D . — Included In Chicago City Ry.
„
„ ,„
. m
OFFICERS.— Pres ,L. A. Busby; V.-P.. W. W. Crawford: Sec. & Treas
F. D. Hoffmann; Aud., Jno. J. Duck.— V .91, p. 1631, 1712.
(4) Hammond Whiting & East Chicago Railway Co.— A trolley road.
A H securities are ownod by the Chicago City & Connecting Rys.
O R G A N I Z A T I O N . — Incorporated In Indiana In Jan. 1910 as successor
to H a m m o n d Whiting & East Chicago E le c tr ic Ry. F r a n c h is e oxpires in
1954. Power I furnished by the Calumet & South Chicago R y .
s
STOCK—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
Stock SI.000.000 ($100)_____ ____
______
$1,000,000 -------First nltge, $5,000,000, goldf 1910
5 g F-A
1,000.000 Feb 11930
($1,000)
______c&rtf lint, at First Trust A Sav. Bank, Chic.,Trust
B o n d s . Subject to call at 105 and Int. E. K. Boisot I also trustee
—
s
R O A D . — Owns 30.60 miles of track, extending from State lino botween
Illinois and Indiana at 108th St.. Chicago, to Whiting, East Chicago and
H a m m o n d in Indiana, and ODerates in connection with Calumet A South
Chicago Ry. to 63d St. and Madison Ave., in Chicago. Standard gauge'
80-lb T r i .
al
OFFICERS.— Pres., O. G. Talmadgo: V.-P., Chas. L. Lawrence; Sec. A
Treas., F. D. Hoffman; Aud., W. W . Hill.— V. 79. p. 103.
In July 1917 issued $885,000 6 % serial notes to reimburse the company
for capital expenditures mado or to be made subsequent to July 11 Jib.
F a r e I n c r e a s e .— In Nov. 1917*his co. was auth. by tho I tnois P. U.
I
Com. to Increase certain rates of fare and to change I s tare schedule from
t
a zono system to a mileage basis. See V . 105, p. 1897.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
SUnelr *100 000
- -________ 8ee text
--------First M $lb,06b',o65*g'($l,-7 1916
5 g J-J
$4,060,000 July 1 1936
000, $500 A 5100)--- c*tflIntorest payablo In N. Y. or Chicago.
Gen’ M $1,500,000 gold--- - 1916 5 %
l
480,000 Aug. 11936
Equipment notes gold ($1,-7 1917 6 g J-J
l^m?00 See text
000 and $500)__ _____ c*(lnt. at Chicago Northern Tr. Co., Trustee.
Serial gold nota^ $885,000 1917 6 g J-J
885.000 See text
($100 $500 SI 000) c*tf iCont. & Oom m . Tr. & Sav. Bk., Ohlc., rrus.
Sine*.— Tho capital stock i In the nominal sum of $100,000. which has
s
been mado tho basis or the following participation certificates of no par
value: ( ) 50,000 Illinois part, cortfs., bearing $5 dividends a year, cumu
a
lative. i earned, from Jan. 1 1918. tho dlv. on these cortfs, having priority.
f
(b ) 58,000 Wisconsin part, certfs.. bearing $5 dlvs. a year, cumulative, i
r
earned, from Jan. 1 1918; (0 62,000 common part, certfs., bearing such
dividends as may bo earnod and declared. The stock will bo hold by George
M. Reynolds, Samuel Insull and I . Floyd Clinch as voting trustees. I<or
I
basis of exchange of bonds of old co. for certificates, see V . 103, p. 664.
B o n d s . — The 1st M . bonds are secured by a f rst lion on a l the property
i
i
owned and by pledge as additional security or the entiro capital stock of the
Chicago A Milwaukee Electric Ry. of Wisconsin, which owns the ter
minal facUitice in Milwaukee. $940,000 have been Issued and are pledged
as security for tho two and three-year notes; remaining $5,000,000 may be
issued at par for not exceeding 8 5 % of the cash cost of betterments, &c.
Tho mortgage provides for a maintenance, replacement and depreciation
fund of 12% of annual gross Income for f r t 5 years, 14% for second
is
5 yoars, 1 6% for third 5 years and 18% for tho last 5 years, to be ex
pended for maintenance, Ac.. or for retirement of 1st mortgage bondsThe 1st M. bonds are caUablo as a wholo or part on any Int. date at 105 and
int. Continental A Commercial Trust Sc Savings Bank, Chicago. I trus
s
tee V 103 p. 1031. $240,000 Gon. M. bonds have been canceled and
$480,000 are in treasury. Tho equip, notes mature $8,500 s.-a. July 1 1917
to Jan. 1 1927; secured by 15 steel passongor cars costing $200,000. Rod.
as a wholo or in part at 100)4 and Int. on any Int. date on 30 days notice.
Tho sorial notes are dated July 1 1917. Due: $180,000 July 1 1918,
$345,000 July 1 1919: $360,000 July 1 1920. Int. payablo In N. Y. or Chi
cago. Denom. $1,000, $500 and $100 (1918 maturity in 51,000 denom.
onlv). Call, a l or part, upon 30 days’ notice, tho ono-year notes at 100
l
and int., tho two-yoar notes at 100)4 and int. anil tholthree-yoar notes at
101 and int. for tho f r t two years of their l f and at l6oH and int. there
is
ie
after Tho ono-yoar notes aro unsecured; tho others secured by deposit
of $940,000 0. N. S. A Mil. UR. 1st M. bonds. V. 105, P. 388.
E a r n in g s . — For year ending Doc. 31 1916, gross, $l,lo7,191, not (aftor
taxes).$376,266; other inc., $16,789; not income available for Int. charges,
depreciation: Ac.. $393,055. In 1915. gross. $911,669; not (after taxos).
$247,843; other inc., $39,664; net income available for int charges, depre
ciation, &c„ $287,507.
. _
R O A D &c.— Owns ana onorates tho electric railroad connecting Evans
ton 1 1 , and Milwaukeo, Wis., with a branch lino oxtending from Lake
1.
Bluff 1 1 to Area, 1 1 , embracing 8 1 5 1 miles of road and 167.60 miles
1.
1.
-.single track equivalent. Tho principal communities served are Evanston.
Wiltnotte, Wiqnetka, Glencoe, Highland Bark, Lake forest, North Chi
cago, Waukegan and Zion City. I I , and Kenosha, Kac no and Milwaukee,
I.
Wis • also Fort Sheridan and Groat Lakos Naval Iraining Station. 11motor. combination, buffet, trailer, baggago and express cars, and 153
freight cars, 8 service cars, 2 electric locomotives and 1 work motor.
OFFICERS.— Chairman of the Board, Samuel Insull; l rra.. Rrttton I
.
Budd; V.-P., R. Floyd Clinch; Sec.-Troas., W. V. Griffin.— V. 103, p, 664,
1031. 1687; V. 101. p. 301. 1044, 2342; V. 105, p. 388. 1897.
CHICAGO & INTERURBAN TRAC TION CO.
O R G A N I Z A T I O N . — incorp. In Illinois Feb. 14 1912 to take over the
property of the Chicago A Southern Trac. Co. (sold at foreclosure) outside
the city limits, the lines within the city having been acquirod by Chic. City
Ry. V. 94. p. 697.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
Stock. $1,000,000 ($100)--- - ---------V " ■ TSSo
T
First mtge, gold ($100, $500.7 1912
5 g J-J
1,350,000 Jan 1 193$1,000), n o s f _____ c*tf\lnt. at First Tr. A Sav. Bk.. Chic.. Trustee
B o n d s . The auth. amount of 1st M. bonds i not limited. Bonds are
—
s
subject to call In whole or in part, beginning with lowest number, at 102
on any Intereat day. There are also $378,000 bonds in treasury
E A R N I N G S — For years ending Dec. 31:
, ._
_
.
Y ear—
G ross.
E xp en ses.
N et.
I n t .& T a x e s . S u r p lu s
1917....... $338,158
$212,370
$125,788
894,769
$31,019
1916.... ... 333,603
190.209
143,394
87,828
55,o66
R O A D . — Consists of 50 milos of line botwoon 119th St. and Vincennes
Road. Chicago, to Kankakoo. 1 1 Standard gaugo. 70-lb. T r i s
1.
al.
OFFICERS.— Pres. A Mgr., O. G. Talmadgo; Sec. & Treas., W. W
Crawford.— V. 100, p. 1167; V. 104, p. 1387; V. 106, p. 1577
CHICAGO NORTH SHORE & MILWAUKEE RR.
O R G A N I Z A T I O N . — Incorp. In 1 1 In Juno 1916 and acquirod the prop
1.
erties of tho Chicago A Milwaukee Electric RR., sold at foreclosure M a y 1
1916 (V. 102, p. 1718, 2077). V. 103, p. 664, 1687.
F r a n c h is e s . Owns right of way in Wisconsin as far as the city limits of
—
Milwaukee; franchise in Milwaukee oxpires Dec. 31 1934. Owns right of
way in Illinois outside of corporate limits and to a considerable extont within
corporate limits; the remainder i covered by municipal franchises, sovorai
s
k6V*/J at Co n t— t i Nov. 1917 the I l
i
i
l inois P. U. Com m , determined the f i
ar
value of the co.’ physical property in I l n i to bo not less than $5,100,000.
s
lios
The original cost of the property in both Ill n i and Wisconsin as shown by
ios
the books was $13,918,862, but tho original cost of tho Il i o s section alone
lni
could not bo accurately ascertained. V. 105. p. 1897.
[Vol 106.
,
C H I C A G O R A I L W A Y S CO. ...
U n if i e d O p e r a tio n o f S u rfa c e L i n e s . — See "Chicago Surface Lines
for
details of Unification Ordinance of 1914, under which the lines of this
company are operated jointly with those of the Chicago City Ry. as a
single system under the control of a Joint board of operation. As to plan
for unification of surface and elovated lines, see Chicago Llevated Rys.
O R G A N I Z A T I O N . — Incorp. in Illinois in Oct. 1903 and on Jan. 25 1908
acquired at foreclosure sale the property of tho old Chicago Union Traction,
comprising the lines of the North and West Chicago Street l l . IHo pur
it
chase was made under a modified plan of reorganization and read ustment
dated Oct. 15 1907 and outlined in V. 85. P. 1269; soo also p. 1670.
In Dec. 1912 purchased 6 miles of the Suburban RR. inside the city limits
(V. 95. D. 1402) and issued $22,554 bonds to cover cost.
F r a n c h is e s . — On Feb. 5 1907 the City Council missed ordinances Providing
for a settlement of the relations botweon the city and the street railway
companies. V. 84. p. 338, 390. The fra n c h is e s grantod by tho ordinances
expire Feb. 11 1927 and were approved at tho popular election held April 2
1907. On Oct. 10 1910 supplemental ordinance was passed expiring Feb.
1927, covering lines of Chicago Consol. Trac. properties. Y.,91. p. 1025.
In the remarks concerning tho Chicago City R y .on a preceding pago of this
publication will bo found a brief summary of the main terms .requirements
aud conditions of these ordinances. A very extended outline of the same
was printed in the "Chronicle of M a y 11 1907, pagos 1123, 1124 and 112o,
to which tho reader i referred for detailed Information.
s
The ordinance for tho Chicago Rys. Co. provides that Revaluation ofthe
properties acquired shall be deemed and considered to be $29,000.000 (the
value fixed by a board or export engineers acting for tho city) plus $1,7 j9,875
for expenditures from tho date or tho valuation on Juno 30 1906 to Feb. 1
1907, making total valuation of properties as recognized by ordinance
*30.779.875 as of Feb. 1 1907. With the expenditure already mado, tho
valuation of road, equipment and franchises on Jan. 31 1918 was computed
at AM expenditures for reconstruction and extensions are being made under
the direct supervision of a board of supervising engineers hoadod by Mr.
Bton J. Arnold, and the company i required, under conservative restric
s
tions, to advance moneys for tho construction of subways by the city.
The expenditures for reconstruction and extensions, including any contri
butions for subways, after Fob. 1 1907 are to bo added to the value of the
properties recognized by the ordinance, together with 5 % of such expendi
tures for brokerage. As compensation for I s servlcos in construction
t
the company will rocoive an additional 15% of a l expenditures for recon
l
struction and extensions, exclusive of amounts contributed for subways.
Tho company agreed to lower and reconstruct the tunnels, under the
Chicago River at Washington. La Sallo and Van Buren streets.
R ig h t to P u r c h a s e b y C i t y .— Undor tho torms of the franchise, tho company
agreed to waive a l rights under previous grants, and gave tho city an
i
option to purchase a l of i s proporty for municipal operation at any time
l
t
prior to the expiration of the 20-yoar franchise granted tho company
by the ordinance. The price to be paid by the city to bo 530,779,875,
the valuation of tho properties February 1 1907. as above mentioned,
plus a l expenditures after that date for reconstruction, extensions and addi
i
tions to the properties. Including any amounts advanced to the city for
the construction of subways in the downtown business district. In case
the property shall not be purchased, as above stated, prior to lJ-7, the
explratiou of the franchise, tho city covenants that I will not then grant
t
a franchise to any other corporation for the operation of a competing system
In tho company’ territory unless such other corporation shall purchase
s
the proporty or the company at said price. Tho city also has the option
of requiring the company to s l I s property to any other licensee corpora
el t
tion of the city, or or purchasing tho property i s l for municipal ownership
tef
(with no requirement as to municipal operation), at any time during the
l f of the franchise; but in caso of such purchaso by the city or a licensee,
ie
the price t o be paid shall bo 20% more than the price above mentioned;
but the licensee shall not be required to pay the additional 20% i i shall
f t
agree to pay over to the city a l profits iu excess of 6 % on the investment
l
In any event, (1) the purchase price must be paid In cash and the f r t
is
mortgage bonds of the company will attach to such cash as a f rst lieu In
i
the event of such purchaso; or (2) such purchaso ( f made within said
i
v, must be consummated expressly subject to tho lien of tho 1st ratge.
, but I made at the expiration of said 20 years, tho amount thereof
f
must also be paid In cash.
.
, .
,,
%
«.
C o m p e n s a t io n to C i t y .— Provision I mado for special compensation
s
to the City of Chicago, but this compensation i payable only out of
s
the surplus earnings of tho company after paying or providing for a l op
l
erating expenses, including the charges for maintenance and depreciation
prescribed in the ordinance and 5 % upon tho valuation of the company s
property at which i may be purchased by tho city for munidnal operation,
t
as above stated. Of tho surplus earnings so remaining, the City of Chicago
receives 55% and the company 45%» (See V. 99, p, 1831 for dispute with
aq
r p f n i jincnnntsl.
»r..n
B
M
a y
,
1918.]
C o n tr o l b y T r u s te e s . — T h e tru st Indenture s e cu rin g th e p a rtic ip a tio n
cer tifica tes p rov id es th a t u n til A u g . 1 1912 a n d t o th e fu ll e x te n t th erea fter
w h ich m a y be p erm itted b y law u n til all o f th e co n s o lid a te d m o rtg a g e b o n d s
o f th e c o m p a n y shall b e fu lly p a id a n d d isc h a rg e d , th e d ire cto rs o f th e
c o m p a n y shall bo oloctod b y M e s sr s. H a rriso n B . R llo y , W illia m O . N ib la c k , A b e l D a v is , F ra n k G . G a rd n e r a n d H e n r y J . T a n s le y , a n d p ro v is io n
Is m a d e in th e tru st d e e d secu rin g th e 1st m tg o . b o n d s fo r th e a p p o in tm e n t
o f a p erm a n en t fln a n co c o m m itte e , c o m p o s e d o f M e s s r s . H e n r y A . B la ir,
S eym ou r M o r r is an d B . A . E ck h a rt o f C h ic a g o .
A c q u i s i t i o n o f C h ic a g o C o n s o lid a te d T r a c t io n P r o p e r t i e s . — O n D e c . 27 1910
J u d ge G r oss cu p c o n fir m e d th e sale o f th e O h io . C o n s o l. T r a c . C o . an d it*
eigh t u n d erlyin g com p a n ies o n N o v . 30 1910 t o A n d re w C o o k e and th *
■ale b y th e la tter o f all p rop ertie s w it h in th e c it y lim its t o th e C h ic a g o R a il
w ays C o . ( V . 9 1 , p . 9 45 . 1253, 1 5 1 1 ). p u rsu a n t t o an o rd in a n c e passed
O c t . 10 1910 (p la c in g v a lu a tio n a t $ 4 ,0 2 1 ,9 8 2 ), like In te n o r , a m e n d a to ry
a n d su p p lem en ta l t o o rd in a n c e o f F e b . 11 1907 ( V . 9 1 , p . 1025. 1159)
See r e o r g a n iz a tio n p la n , V . 9 0 . p . 1013; V . 9 1 , p . 3 7 . T h o linos o u t s id e th e
c it y w ere a cq u ired b y th e C o u n t y T r a c t io n C o . (n o w th e C h ic a g o & W o o l
T o w n s R y . ) , w h ich h as n o co n n e c tio n w ith th e C h ic a g o R a ilw a y s C o .
O n N o v . 1 1910 a d e p o sit a gre e m e n t w as e n tered Into b y th e h o ld e rs o f th e
securities o t th e C h ica g o C o n s o lid a te d T r a c t io n an d Its sub sid iaries, p ro
v id in g fo r th e exch a n g e o f th e said securities fo r C h ic a g o R y s . C o . P u rch ase
M o n e y 4 % t o 5 % b o n d s a n d A d ju s t m e n t In c o m e 4 % b o n d s , b o t h d a te d
J an . 1 1911 a n d m a tu rin g F e b . 1 1927. F o r d e sc rip tio n o f b o n d s a n d term s
o f e x c h a n g e , see V . 9 1 , p . 1 384, a n d c o m p a r e V . 9 0 , p . 1013; V . 9 1 . p . 2 14 .
F a v o r a b le D e c i s i o n .— In O c t. 1912 th e U . S . C ir cu it C o u r t o f A p pea ls
a ffirm ed th e d ecis ion o f J u d g e K o h ls a a t, dism issing th o s u it b ro u g h t t o n a v e
th e c o m p ro m is e fra n ch ise o f 1907 a n n u lled .
V . 9 5 . p . 1206.
S e ttlem e n t o f Y e r k e s S u i t . — In A p ril 1914 th o c o m p a n y a rra n g ed a a e ttle m en t or th e s u it b r o u g h t b y th e Y erk es es ta te o n th e g u a r a n ty o f th o b o n d s
o f th e C h ic . C o n s o l. T r a c . C o . b y th o U n io n T r a c . C o .
V . 9 8 , p . 1155.
D e c i s i o n a s to R e g u l a t i o n . — See ' ‘ C h ic a g o S u rfa ce L in o s .”
T h e p - U . C o m m , h as a u t h . th o c o . t o Issue 8 2 ,2 3 0 ,0 0 0 a d d itio n a l 1st M .
5 % b o n d s f o r im p t s ., & c .
STOCK A N D BON DS—
D a le .
In te r e s t.
O u ts ta n d in g .
M a tu r ity
S to c k , $ 1 0 0 ,0 0 0 ---------------------------------------------See te x t .
See te x t .
F9£ t, IJJ££fgaKe. i see t e x t>.
1907
5 F -A
$ 5 5 ,0 8 1 ,0 0 0 F e b 1 1 9 2 7
($ 1 ,0 0 0 ) g o l d ----------c & r t f { I n t . a t H arris T r u s t & S a v . B k ., C h i c ., T r u s .
_
„
1 o r a t H arris, F o rb e s & C o . , N e w Y o r k .
C o n s o l m tg e . g o ld .................... t f 1907
5%
See t e x t . F o b 1 1 9 2 7
I
B o n d s C o v e r in g C i t y L i n e s o f F o r m e r C h ic a g o C o n s o l . T r a c t io n .
Pu,ri !k:J?10ney M 5 0 .0 0 0 ,0 0 0 g f 1910
5 J-J
4 ,0 7 3 ,0 0 0 F e b 1 1 9 2 7
($500 a n d $ 1 .0 0 0 )-------c * t f { I l l i n o i s T r . & S a v . B a n k , C h i c ., T ru s te e .
^ W.SOO.OOO g o l d / 1910
4 g M ay
2 ,5 0 0 .0 0 0 F eb 1 1 9 2 7
($100& $500) (n o n -c u m )c * t f l C en tra l T ru st C o . o f III., C h ic a g o . T r u s t e a
S to c k . — T h e c a p ita l s to c k o f th e c o m p a n y , w h ich Is issued In th o n om in al
a m o u n t o f $ 1 0 0 ,0 0 0 , has boon m a d e th e s u b je c t o f a tr u s t a g re e m e n t, d a te d
A u g . 1 1907 an d e x ec u ted J an . 25 1908, b y an d b etw een th e C h ic a g o R ail
w ays C o . a n d M e s sr s. A d o lp h u s O . B a r tle tt, C h a u n c e y K e e p , C harles H .
H u lb u r d . A lb e r t A . S pragu e and C h arles G .D a w e s , as d e p o sita rie s, and
C en tral T r u s t C o . o r N e w Y o r k as cu sto d ia n . U n d e r this a greem en t
th o s to c k servos as a basis fo r th e issue o f th o p a r t ic ip a t io n c e r tific a t e s ,
rep resen tin g in all 2 05 ,10 0 eq u a l p a rts. Series 1 co n sists o f 3 0 ,8 0 0 p a rts.
Series 2 o f 124,300 part3, Series 3 o f 0 0 .0 00 parts and Series 4 o f 6 0 ,0 0 0 p a rts.
Series l , 2 a n d 3 are o n titled . In th e ord e r o f p rio r ity n a m e d , t o cu m u la tiv e
d iv id en d s o f $8 fo r ea ch p a rt, b egin n in g w ith year en d in g A u g . 1 1908. a n d In
th e d istrib u tion o f c a p ita l t o $100 fo r each said p a r t. S eries 4 Is e n titled
t o a n y rem a in in g p rofits o r ca p ita l d is trib u te d ,
v . 8 5 , p . 1269.
D iv id en d s o n p a rtic ip a tio n ce r tifica te s S e r. 2 are lim ite d t o $4 o n ea ch c e r
tific a te so lo n g as m ore than 5 0 % o f Series C b o n d s rem a in o u ts ta n d in g ,
an d th erea fter t o $5 p er c e r tifica te u n til th e rem a in d er o f Series C b o n d s
h a v e boon r e d eem ed . Series 2 , h o w e v e r, Ls e n titled t o u n p a id a ccu m u la tio n
on a c c o u n t o f Its $8 p er c e r tific a te (b e gin n in g w ith th e y e a r e n d in g A u g . 1
1 9 0 8 ), b u t o n ly w hen oa rn od , a n d a fte r p a y m e n t o f all a c c u m u la tio n s o f
sinking fu n d a n d o f d iv id e n d s on Series 1.
B o n d s . — F irst m tg o . b on d s a re Issued o n ly to p r o v id e fu n d s fo r reh ab ili
t a t io n , exten sion s, & c . T h o y m a y b e red eem ed a t p a r a n d a ccr u e d Interest
on a n y Interest d a y . T h e b o n d s h a v e a first lien o n th o o n tiro p ro p e rty
rights and fra n ch ises o f th e c o m p a n y . T h e a u th o riz e d Issue is lim ite d to
th e a gg rega te o f th e a m ou n ts a p p r o v e d fro m t im o t o tim o b y th o b o a rd o f
su p ervisin g engineers. $ 2 ,2 7 6 ,0 0 0 aro h eld in tre a su ry .
S ee fu ll p a rtic u
lars o f b o n d s , p r o p e r t y , & c ., in
8 6 , p . 5 45: V . 8 8 , p . 1436; 1619;
90
p . 3 02 ; V . 9 3 , p . I b 2 . B o n d s aro liste d o n N . Y . S to c k E x c h . V . 103, p . 238.
T h e c o n so lid a te d m o rtg a g e b o n d s co n sist o f th e fo llo w in g : Series A
issu ed ,1 $ 1 7.4 0 3 ,8 0 0 , o f w h ich $ 1 ,0 0 6 ,0 0 0 aro In th e tre a su ry an d can b e
issued o n ly fo r a cq u isitio n o f a d d itio n a l p r o p e r ty : Series B S17 164 4 7 5 . an d Series O . $ 9 0 3 ,3 3 0 . Sorios O b o n d s h a v e s in k in g fu n d 6 f $250 0 00 p er a n n u m , i f oa rn od . w h ich began A u g . 1 1908, b u t cu m u la tiv e untU
p a 11
' ,: $ y ? 0 .O O O S e r i « A b o n d s h a v e been re tire d . See p a rticu lars.
V . 8 0 , p . 1223; V . 9 3 , P - 1724. O f th e rem ain in g Series B . b o n d s , $ 22 8 ,0 0 0 are
In trea su ry. $ 3 ,0 9 6 ,6 6 4 Series O b o n d s h a v e been r o tire d b y sin k in g fun d
a n d ca n c e lla tio n . B o n d s o f th re e s e n e s b o re in t . a t 4 % u n til F e b . 1 1912t h e r e a fte r 5 % .
P u r c h a se M o n e y M t g o . b on d s b o re in t . a t 4 % p e r a n n . d u rin g firs t 5 y r s ..
n ow o % p er a n n . T h e y are rod . at par a n d in t. o n a n y in t . d a te .
A d j u s t m e n t I n c o m e M t g e . b o n d s are red . a t par a n d in t . on a n y I n t .d a t e .
I n te re s t is p a y a b le o n ly If earned a n d Is n o t c u m u la tiv e . P a ym e n ts o f
4 % each w ere in a d o on M a y 1 in 1913 t o 1918 Inclu sive.
In terest on b o th p u rc h a se -m o n e y m o rtg a g e a n d a d ju s t m e n t In co m e
b ,0 .ai6 C
f°7iF a,nX,s
o r a t fw o n c y o f co m p a n y in C h ic a g o .
D I V I D E N D .— A n Initial d iv id e n d o r $4 was pa id N o v . 15 1908 on
,S0P,S- 1 1909 * * was pa id o n S eries 1
c e r tific a te s . N o n e ^ O c t . 1912. w h en $6 w as p a id .
In F e b . 1913, $0:
M a y . $8, J u ly , $6, A u g ., $ 4 . In 1914, F e b ., $4; A u g ., $ 8 . b e in g ta ll p a y -
V
.
V
.
°u
^
S2
I n p S l '\ o i 7 “ 2 . ^ ' ° f 3 2
1 ld ° ° a o r l" 2 '
“
R O A D .— C o m p r is e 5 8 2 .45 m iles o f tra ck (In clu d in g 128 m iles o f the
fo r m e r C h ic a g o C o n s o lid a te d T r a c tio n L in a s ).
— O perates *
d o u b le -tr u c k " p a y -a s -y o u -e n t e r " ca rs.
« R 2 P O R T . ^ h e a n n u a I r e p o r t f o r y e a r en d in g J a n . 31 1918 w ill b e fo u n d
In V . 100, p . 1568. T h e co m b in e d rosu lts o f th o " C h ic a g o S u rfa ce L in e s ’ ,
resid u e re^ Ip T s
* 12 0 1 ? .9 3 7 . ’
' '
° p e r a tla g e x P °a se 3 ' * 2 3 .1 0 1 .0 9 0 ;
I n c o m e A c c o u n t f o r Y e a r s e n d in g J a n . 3 1 .
Share o f
• A d ju s tI n t., 5 % .
B a l a n c e , ------- O f w h ic h to -------R es. R ed s.
m en ts.
on In v .
D i v i s i b l e . C i t y ,5.5% . C o . 4 5 % .
n
Ml
1,039
,740
,331
Ino eS le e i Nn a e h Acut
cm ta mn o -Prtnrs ip con
(
) fo r Years ending J a n . 3 1 .
C h ic a g o R a ilw a y s , 4 5 % .............................. $ 1 ,0 8 9 ,6 3 9
6 % on In v estm en t
.............................. 4 ,4 1 8 .1 3 6
M is cella n eou s in te r e s t..............................
146 ,58 5
g r o s s l n c ° m e .............- .............................$ 5 ,6 5 4 ,3 6 0
T o t a l in teres t o n b o n d s ........ ..................... $ 4 ,7 6 5 ,5 8 4
S in k n g fu n d reserv e a c c o u n t ..............
2 5 0 ,0 0 0
F e d 1 in c o m e ta x o n in t. c o u p o n s ------6 0 ,0 0 0
C o r p o r a t io n ex p e n d . & a d ju s t m e n ts .
168 ,80 0
$11
,447'.740
4 .3 1 9 ,7 8 3
190 ,84 6
$ 5 ,9 5 8 ,3 6 9
$ 4 ,7 4 6 ,7 8 6
2 5 0 ,0 0 0
3 0 ,0 0 0
1 53 ,56 8
$914i331
4 ,2 3 0 ,9 7 5
168,247
$ 5 ,3 1 3 ,5 5 3
$ 4 ,6 2 5 ,9 5 0
2 50 ,00 0
17,828
89,2 03
V ic e -P re s id e n ts , S ey m ou r M o r ris a n d J. E . W ilk ie ; S o c ., F . L . H u p p ;
T r o a s ., M . B . O r d e .— V . 105, p . 1208, 1801; V . 106, p . 6 01 , 1461, 1583.
C H IC A Q O * W E3T TO W N S R A H W A Y CO.
O R G A N IZ A l IO N .
I n c o r p . in Illin ois in 1913 as a co n s o lid a tio n o f ttwi
C o u n t y lr a c t l o n C o . a n d th e S u b u rb a n R R .
S erves th e co m m u n itie s o f
O a k l’ a r k . R iv e r F o re s t, M a y w o o d , C ic e r o , B e r w y n , F o re s t P a rk , L y o n s ,
R iv o r s id o , B r o o k fie ld , L a G ra n g e a n d o th e rs , h a v in g an e s tim a te d p o p u la
t io n o f o v o r 135,000. f r a n c h i s e s c o n ta in n o b u rd o n so m o re s trictio n s a n d
ex te n d b e y o n d 1920. A b o u t 10.5 m iles o f tra ck on p r iv a te r ig h t-o f-w a y .
F a r e I n c r e a s e .— I n F o b . 1918 w as a u th . b y th o III. P . U . C o m m , t o in
crease ch a r g o for 6 0-rid o m o n t h ly ” t ic k e t fr o m $3 t o $4 20 a n d t o ch arge
$1 50 fo r 2 o-rid o bearer t ic k e t in sto a d o f $1 50 fo r 30-rIdo tic k e t. C ash
fares u n ch a n g ed .
STOCK A N D BONDS—
D a te.
In te r e s t.
O u ts ta n d in g .
M a tu r ity.
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 6 0 .0 0 0 ( $ 1 0 0 ) ------6%
1 .0 0 0 ,0 0 0 _____________
F irs t m o rtg a g e $ 1 ,0 0 0 ,0 0 0 ? 1918
7 M -S
7 5 0 ,0 0 0 S e p t 1 1920
($500 a n d $ 1,0 00 ) g o ld ..c * \ H a r r is T r u s t & S a v . B a n k , C h ic a g o , tru stee.
27
ELECTRIC* RAILWAYS
R e m a in in g b o n d s m a y b e issu e d fo r 7 5 % o f e x ts . a n d en la rg e m e n ts
w ith ce r ta in re s trictio n s . C a lla b le o n th e 1st d a y o f a n y m o n t h a t 101
a n d in 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 1 917, gr o ss , $ 5 8 7 ,2 9 2 : n e t,
a fte r ta x e s, $ 1 7 3 ,6 9 5 : in te re s t a n d re n ta ls, $ 3 9 ,7 9 9 ; s u rp lu s, $ 1 3 3 ,8 9 6 .
In 1916, gro ss, $ 5 6 6 ,6 7 5 ; n o t, a fte r ta x e s , $ 1 8 9 ,0 2 1 . I n 1915, gr o ss , $ 5 0 5 ,
061; n e t, a fte r ta x e s, $ 1 5 9 ,5 8 1 .
.— O w ns 7 2 .1 3 m iles o f t r a c k , o f w h ic h a b o u t 5 m iles le a se d fo r
o p e ra tio n b y C h ic a g o R y s . C o ., a n d o p e ra te s a n a d d itio n a l 0 .9 5 m ile
u n d er lo n g -te r m lease.
O F F I C E R S .— P re s ., W illa r d M . M c E w e n ; S e c. & T r e a s ., C h a rle s N .
H e b n e r; G e n . M g r ., F . L . B u t le r .— V . 108, p . 715, 1126, 1230.
Ra
od
E V A N S T 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. 20 1913 In Illin o is t o tak e o v e r the
lines in E v a n s to n , 111., fo r m e r ly o w n e d b y th e C o u n t y T r a c t io n C o . (n o w the
C h ic a g o & W e s t T o w n s R y .)
— T h e c o m p a n y w as g r a n te d a n e w 2 0 -y e a r fra n c h ise .
STO CK A N D BON DS—
S to c k , $ 5 0 0 ,0 0 0 ($ 1 0 0 ).......................................... ..
$ 5 0 0 ,0 0 0 .......................
F irst m tg e b o n d s , g o ld ------- c * / 1913
6 g F -A
2 9 9 .5 0 0
1933
R e d e e m a t 103 a n d in t ____ J In t. a t M e r c h . L o a n & T r . C o ..C h i c . , T r u s .
G en era l m o rtg a g e b o n d s _______ ______
________
1 1 0 ,4 0 0 ___________ — S in k in g fu n d o f 2 % o f o u ts ta n d in g b o n d s b ega n 1917.
E A R N I N G S .— F o r ye a rs e n d . D e c . H :
F nh e
ra c is.
Bns
od.
YDcnin
e re d g
ae.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
r s x r.,&. rn ste u ns
a e
Ernog. Ee.,-TxsENt. et. r- S rpc.
aG ss Dp ae, ae In Blalu,
in p c
s
31—
$ 52 ,8 6 3 $ 2 1 ,8 9 5
$ 3 0 ,9 6 8
1 9 1 7 ..................................... $ 1 7 4 ,2 0 7 $ 1 2 1 ,3 4 4
191 6 ....................................... * 1 65 ,27 8
118,246 4 7 ,0 3 2
2 1 ,6 5 4 2 5 ,3 7 8
R O A D .— L ength o f sin gle tra ck , 10.34 m iles. 85-Ib. rail. G a u g e , 4 ft.
8 H in.
O F F I C E R S .— P re e ., C le m e n t C . S m ith , M ilw a u k e e : V ic e -P r e s .. & G e n .
M g r ., C h a rles F . S p e e d , E v a n s to n ; S e c ., G e o . J . C h a ffe e , M ilw a u k e e ;
T r e a s ., T . F . K a a p ; C o m p t r o lle r , C h a s . C . M a j o r , M ilw a u k e e .
C H IC A G O
ELEVATED
R A I L W A Y S .— A
v o lu n t a r y
a s s o cia tio n
Uific tio o Srfaea dE vte L e a dCntr c no S b as c
n a n f u c n lea d ins n os utio f uwy&.
sim ilar t o M a s sa ch u se tts E le c tr ic C o m p a n ie s .
— T h e C h ic a g o T r a c t io n and S u b w a y C o m m iss io n , co n sistin g o f W illia m
B a r c la y P arson s an d R o b e r t R id g w a y o f N e w Y o r k and B io n J . A rn o ld
o f C h ic a g o , in D e c . 1910 r e p o rte d a p la n (V . 103, p . 2 2 3 7 , 2 4 2 8 ), in ten d ed
t o fo r m t h e b asis o f an e n a b lin g o r d in a n c e , w h ic h p ro v id e s :
(1) U n ified o p e ra tio n u n d er o n e m a n a g e m e n t o f all t h e c i t y ’s lo ca l tra n s
p o r t a tio n fa c ilit ie s , u n d er c i t y c o n tr o l, b u t g iv in g a B o a r d o f R e g u la tio n
a n d C o n t r o l t h o b ro a d e s t p o ssib le p o w e r s as t o re g u la tio n o f ca r s e r v ic e ,
d e v e lo p m e n t. & c.
(2) A n e xte n s ive c o n s tr u c tio n p ro g ra m , in v o lv in g t h e ex p e n d itu r e d u r
in g th e n e x t 9 years o f $ 9 8 ,2 7 3 ,0 0 0 (w h ich will increase t h e ra p id tra n s it
fa cilitie s t o 2 H tim e s t h o p resen t “ ru sh h o u r " s c h e d u le ), a n d o f a m in im u m
b y 1950 o f $ 2 7 5 ,0 0 0 ,0 0 0 .
(3) T h e c i t y ’s p resen t tr a c t io n fu n d t o b e used fo r t h e c o n s t r u c tio n o f
■ u b w a ys, w h ich shall b e o w n o d b y th e c i t y fr o m t h o s ta r t , an d its share o f
t h o fu tu r e d iv isib le n e t r e c e ip ts t o b e a p p lie d in su ch a w a y as t o fa c ilita te
th e a c q u isitio n o f th e p ro p e rtie s b y t h e c it y .
(4 ) A p p lic a t io n o f I n c o m e .— T h e c i t y an d th e n ow co r p o r a tio n o w n in g
a n d o p e ra tin g t h e c o n s o lid a te d c o s . w ill each re c e iv e th e cu rre n t r a te o f
Interest u p o n th o n e w ca p ita l fu rn ish ed b y th e m fr o m tim e t o tim e t o d e
v e lo p t h e s y s te m , an d t h e c o r p o r a tio n w ill r e c e iv e 6 % u p o n th e t o ta l v a lu a
t io n o f th e existin g p ro p e rtie s a t th e t im e o f th e c o n s o lid a tio n . A n a m o r ti
z a tio n fu n d t o b e esta b lish ed 5 years a fte r t h e b e gin n in g o r u n ifie d o p e ra tion p, s ta r tin g w ith H o f 1 % a n d in creasin g
o f 1 % e v e r y 5 yea rs t o 1 % .
T h e residue t o b e d iv id e d 5 5 % t o th e c it y an d 4 5 % t o th e c o m p a n y , tn e
c o . ’s sh a re, h o w e v e r, n o t t o be less th a n 1 % o f gross in c o m e .
(T h is p la n ,
th e C o m m iss io n s ta t e , w o u ld m ak e it p o ss ib le fo r t h e c i t y t o o w n t h e e n tire
s y s te m , re p re se n tin g $ 4 9 0 ,0 0 0 ,0 0 0 , in 196 0 .)
D iv is io n o f earnings b e tw e e n
th e s u rfa ce a n d e le v a te d co m p a n ie s w ill b e le ft t o th e m s o fa r as s u ch a d
ju s tm e n t d o e s n o t in terfere w ith th e rig h ts o f th e c it y .
(5) E x istin g tran sfer a rran gem en ts t o b e m a in ta in e d . A ch a r g e o f 2
ce n ts w o u ld be m a d e fo r transfers b e tw e e n s u rfa ce a n d e le v a te d lin es, th is
t o bo re d u ce d a n d e lim in a te d w h en th e fin a n cia l s ta tu s o f th e c o r p o r a tio n
will p e rm it.
In co n n e c tio n w ith th e p la n , th o C o m m iss io n p la c e d a v a lu a tio n o f $ 7 0 ,
4 00 ,91 6 o n th e e le v a te d lin os, a n d th e s u rfa ce lines w ere v a lu e d as o f J u n e
3 0 1910, in a c c o r d a n c e w ith th e 1907 o rd in a n c e , a t $ 1 4 7 ,4 7 5 ,5 0 1 , m a k in g
r o u g h ly a to ta l v a lu a tio n o f $ 2 2 0 ,0 0 0 ,0 0 0 .
(T h is is a lso th e t e n ta tiv e
fig u r e a rriv e d a t b y th o s u b -c o m m it te e o n tra n s p o r ta tio n o f th e C it y C o u n
c il in its e s tim a te . V . 106, p . 2 1 2 2 ). F o r fu r th e r d e tails see V . 103,
p . 2 23 7 , 2428; V . 104. p . 5 59. O n A p r . 19 1917 th e 111. S u p re m e C o u r t
u p h eld th e rig h t o f th e S ta te P u b . U tilitie s C o m m , t o re g u la te s tr e e t c a r
s e rv ice in C h ic a g o regardless o f th e p ro v is io n s o f th e c o n tr a c t o rd in a n c e s
o f 1907, b e tw e e n th e C h ic a g o C it y C o u n c il a n d th e s u rfa ce lines.
T h e p h y sica l fea tu res o f th e p r o p o s e d ra p id tra n sit p la n s, it is s t a t e d ,
h a v e b e e n t e n t a t iv e ly , a d o p te d . T h e {tr a n s p o r ta tio n c o m m itte e h as be en
d ir e c te d t o p re p a re a n o r d in a n c o 'o m b o d y in g v a rio u s re v ise d fra n c h ise an d
fin a n cia l p r o v is io n s (see V . 106, p . 2122) w ith ,w h ic h , h o w e v e r , it is u n d e r
s t o o d .that th e c o m p a n ie s a re n o t in a c c o r d .
A t m id n ig h t N o v . 2 1913 b ega n th ro u g h -r o u tin g n o rth a n d so u th e le v a te d
tra in s, usin g th e L o o p f o r t h a t p u rp o s e , a n d e s ta b lish ed fre e tra n sfe r s ta
tio n s b e tw e e n said tra in s a n d train s o f M e t r o p o lita n an d O a k P a rk c o s .
A s th e p r o je c t fo r u n itin g u n d er o n e c o n tr o l th e e le v a te d ra ilw a y a n d su r
fa c e ro a d s o r C h ic a g o w a s n o t ca rr ie d o u t b y J u ly 1 191 4 . th e C o m m o n
w ealth E d is o n C o . p u rch ased fro m th e s y n d ic a te w h ic h u n d e rw ro te th e
p re f. shares a p p ro x im a te ly 200 .00 0 shares o f C h ic . E l. c o m . s tk . fo r a b o u t
$ 6,0 00 ,0 0 0 in a c c o r d a n c e w ith th e term s o f an a gre e m e n t said t o h a v e been
entered in to In 1911.
.— I n F e b . 1918 th e e le v a te d a n d s u r fa c e
lines a p p lie d t o th e C h ic a g o C it y C o u n c il fo r a u th . t o c a rr y o v e r th eir c it y
lines fre ig h t w h ich m a y b e b r o u g h t .t o th e m fr o m In teru rban lines su rro u n d
in g th e c it y .
V . 106, p . 821.
O R G A N I Z A T I O N .— O rga n ize d In 1911 t o a c q u ir e s to c k s , b o n d s a n d
o th e r secu rities o f t h e M e t r o p o lita n W e s t S id e E le v . R y . , N o rth w e s te rn
E Iov. R R . an d th e S ou th S id e E le v . R R . ($ 2 1 ,2 0 2 ,3 1 2 b e in g o ffe re d fo r th e
$ 36 ,2 9 4 ,9 0 0 s to c k o f th ese c o m p a n ie s — see o ffe rs in V . 9 2 , p . 1498. A ll
th o s to c k s h a v e been tu rn e d in , a s m a ll re m n a n t o f N o r th w e s t L p r e f. b e in g
b o u g h t in A u g u st 1913; V . 97, p . 7 2 8 ); a ls o , i f it s o e le cts , th e s to c k s o f th e
U nion C o n s o l. E le v . R y . . C h ic a g o & O a k P a rk E le v .
C h ic a g o & O a k
Park E le v .
a n d C h ic a g o
E lm h u rs t R y . , w h ich c o m p a n ie s a re c o n
trolled b y t h e a fo re -m e n tio n e d co m p a n ie s . T h e s e ro a d s o p e r a t e a b o u t
189.54 m iles o r tra ck .
In J u ly 1914 th e N a tio n a l C it y B a n k o ffe r e d th e $ 14 ,0 0 0 ,0 0 0 g o ld n o te s
(V . 9 8 , p . 1 9 9 2 ), th e p ro ce e d s o f w h ic h , to g e th e r w ith th e sale o f $ 7 ,0 0 0 ,0 0 0
10-y r. 0 % d e b e n tu re s a n d $ 1 2 ,5 0 0 ,0 0 0 b o n d s o f th e N o rth w e s te rn E le v .
R R . w ere u sed t o retire th e $ 3 0 ,0 0 0 ,0 0 0 3 -y r . n o te s w h ich m a tu r e d J u ly 1
1914, a n d t o p r o v id e w o r k in g c a p ita l.
.— O n A p r . 24 1914 th e S u p rem e C o u r t a ffir m e d t h e d e cis io n o f
J u d g e S ca n lo n o f t h e C ir c u it C o u r t ( v . 9 7 , p . 1425) a n d dism issed t h e s u it
o f S ta te A tt o r n e y H o y n e a ga in st th e M e t . W e st S id e , S o u th S ide a n d U n io n
ele va te d ra ilroa d c o s ., a lleg in g th a t t h e y v io la te d th eir S ta te ch arte r b y is
s u in g w a tered s to c k .
STOCK A N D BONDS—
C o m m o n , 2 5 0 ,0 0 0 s h a re s.
2 5 0 .0 0 0 s h s. ____________
■ re f, 160,’000 sh a re s , 0 .% c u m . I . . I
. .
Q -M
P
160 .00 0 sh s. See t e x t .
3 -y r g o ld n otes (clo s e d Issue)
1914
0g _
_ J-J
$ 1 4 ,0 0 0 ,0 0 0 J u ly 1 1919
($ 1 ,0 0 0 ). $ 1 4 .0 0 0 ,0 0 0 ..
'
Illin o is T r u s t & S a v . B a n k , C h i c ., tru ste e.
D eb en tu res $ 7,0 00 ,0 0 0 ($100
1914
6 g J-J
7 .0 0 0 ,0 0 0 J u ly 1 1 9 2 4
an d $ 1 ,0 0 0 ).................... _ c * t f I n t . a t N a tio n a l C it y B a n k , N e w Y o r k .
E q u ip tr ce r tfs g o ld Ser " A "
1914
5 g F -A
1 .7 4 3.00 0 See t e x t .
do
do
Ser " B ”
-------------------5 5 0 ,0 0 0
See t e x t .
gu aran teed b y e n d o rs e m ’ t . C o m m e rc ia l T r . C o . o f P h lla .. T ru s te e .
N o te s p a y a b le ------------------------.............................................................. 1 ,3 0 0 .0 0 0 ........
— C o m . an d p r e f. shares expressed a t p a r v a lu e o f $100 e a ch . T h e
p r e f. s to c k U re d e e m a b le a t $100 a n d a ccr u e d d iv id e n d s .
.— P e n d in g th e fo r m a tio n
a c o n c r e te p la n fo r th e u n ific a tio n o f
s u rfa ce an d e le v a te d lines an d a p p rq p r ia te m u n icip a l a ctio n in th e m a tte r ,
th o h old ers o f $ 1 3 ,6 0 1 ,0 0 0 o f th e $ 14 ,0 0 0 ,0 0 0 5 % n otes d u e J u ly 1 1916
c o n se n te d t o e x te n d in g s a m e t o J u ly 1 1919 a t 6 % in te re s t, w ith a cash
p a y m e n t o f $15 in r e s p e ct o f ea ch $ 1 ,0 0 0 o f e x te n d e d n o te s (t o p r o v id e w h ic h
th o trustees b o r r o w e d $ 1 ,3 0 0 ,0 0 0 , g iv in g th eir n o te t h e r e fo r ). In a d d it io n ,
th e v a lu e o f th e s e cu rity f o r th e n otes w as m a te ria lly increased a n d an a gree
m en t m ad e w ith th e C o m m o n w e a lth E d is o n C o . w h e re b y all cla im s fo r
p o w e r s u p p lie d t o th e ra ilro a d c o s . a fte r Ju n e 3 0 1916 a n d u n til m a tu r ity o f
th e e xte n d e d n o te s w ill b e assigned t o a tru stee a n d w ill b e p a id o n ly If a n d
fi
Ap a nt Crr F ig t
plic tio o a y re h
R.
R
R..
y
&
Dc io
eis n
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
.c*
S c.
tok
Nte
os
o
t
as o th e r flo a t in g d e b t o f s u b sid ia r y c o s . (e x c e p t c a p ita l d e b t) is n o t In creased.
I n ca se o th e r co lla te r a l s ecu rities p le d g e d fo r th e e xte n d e d n o te s s h a ll u p o n
sale p r o v e In s u fficien t t o p a y s u ch e x te n d e d n o te s In f u ll, th e said p o w e r
cla im s th en u n p aid w ill b e p la c e d o n a p a r ity w ith th e e x te n d e d n o te s . V .
102, p . 2 34 1 ; V . 1 03 , p . 5 78 . T h e n o te s are n o w se cu re d b y p le d g e o f s u b
s ta n tia lly all o f t h e s t o c k o f th e N o rth w e s te rn E le v . R y . , th e M e t . W e st
S id e E le v . R y . a n d t h e S o u th S id e E le v . R R . , h a v in g a t o ta l p a r v a lu e o f
$ 3 6 ,2 9 2 ,5 0 0 , a n d n o te s a n d cla im s a g a in s t th ese c o m p a n ie s a gg re ga tin g
$ 1 ,0 7 0 ,0 0 0 .
R e d e e m a b le a t p a r a n d in t. o n a n y in t. d a te o n 3 0 d a y s n o
t ic e . i n t . p a y a b le in N . Y . o r C h ic a g o . I n t . a t ra te o f 5 % h as b een
p a id o n th e u n e x te n d e d n o te s .
. , ^ .
. . .
_
D e b . n otes a re r e d . , a ll o r a n y p a r t , w h e n d r a w n b y lo t a t p a r
In t. o n a n y
In t. d a te u p t o a n d In cl. J u ly 1 1919, a ft e r th a t a t 1 0 2 H o n 4 w eek s n o tic e .
V . 9 9 , p . 1 95. T h e e q u ip , tr u s t as a b o v e Is jo in t o b lig a tio n o f th e M e t r o p .,
N o rth w e s te rn a n d S o u th S id e E le v . c o s . a n d n o t o f th e C h ic a g o E le v a te d
R v s . T h e Series “ A ” c e r tific a te s are d u e in sem i-a n n u al Installm en ts fr o m
F e b . 1 1917 t o A u g . 1 1 926, $ 102,000 ea ch F e b . 1 a n d $ 1 0 3 ,0 0 0 e a ch A u g . 1.
T h e y are g u a r , b y e n d . o n e a ch c e r tif. b y th e M e t . W is t S id e S i e v e ., N o r t h
w estern E le v . a n d t h e S ou th S id e E le v V . *00, p .
n< v7*^ l82? rie i o o o "
S eries “ B ” m a tu r e $ 1 1 0 ,0 0 0 s e m i-a n n u a lly fr o m F o b . 1 1927 t o F e b . 1 1 929.
O n p r e r .. Initial d iv .— 1 H % — p a id D e c . 1 1911.
I n 1912
a n d 1 91 3 , 6 % .
I n 1 91 4 , M a r c h . 1 H % : J u n e , 1 H % - N o n e s in ce .
R E P O R T .— F o r y e a r e n d in g Ju n o 3 0 1 91 7 , in V . 105, p . 2 26 9 :
).
30
—
1 9 1 6 -1 7 -$ 9 ,2 8 9 ,9 1 3 $ 4 ,4 6 5 ,4 2 7 $ 1 5 1 ,5 8 9 $ 3 ,2 4 9 ,9 9 6 $ 1 ,1 7 6 ,3 4 5 $19 0 ,6 7 5
1 9 1 5 -1 6 - 8 ,4 3 5 ,0 0 8 4 ,0 9 9 ,9 4 7 135,693
2 ,9 6 9 .5 2 2
1 ,1 3 5 ,5 4 3
130.575
1 9 1 4 -1 5 - 8 ,0 4 5 .2 6 4
4 .1 7 4 .9 5 8 1 17 .90 5
2 .8 8 8 ,6 5 2
1 .1 0 5 ,3 7 3
298 .83 7
&
Didns
iv e d.—
o bse a g (In t rmay ret,ta Dd-te a ne
rn e teh n e ls M
s r-C
u
Jua Cmind EEinins Inoo.pTteRnc dedc d Brpc.
Ynr Inrm. aNtg. Oe e Inxss&. Ds S lalu,
ee Cos
c e rn
o
c m ae,
e . u s
n
o e c ov y s
s
Gosa xeeoste l fend rp
Cl.r. Dcmscmnreft. h aoole.te Rprst&rPTesd. Sa.
a InidnAcuto CicgcEse d In. Clla arerut. u
iv
d. ete
Ya iv e-InoIn s Inrm Etene. Didrres Bl.,
e
1
................ $123,801
$ 1 ,3 7 2 ,4 7 5 $ 1 ,2 4 8 ,6 7 4
1916 — $ 1 ,2 1 8 ,9 9 1
$ 1 5 3 ,4 8 3
________
6 ,4 1 7
1,1 4 6,21 3
1 ,1 5 2.63 0
1915 - - 1 .0 2 7 ,0 4 5
125,585
4 ,6 9 8
1 ,3 4 3,35 1 $ 4 8 0 ,0 0 0
1 ,8 2 8 ,0 4 9
1914 - - 1 ,1 0 9 .7 9 8
718 .25 1
O F F I C E R S .— P r e s , o f c o n s titu e n t c o s ., B r itt o n I . B u d d ; S e c .. W . V .
G r iffin ; C o m p ., E d w a r d A . B r io n .
T R U S T E E S .— W illia m G . B e a le , S am u el In s u ll a n d S a m 'l M c R o b e r t s .
E X E C U T I V E C O M M I T T E E .— S am u el I n s u ll, W . A . F o x an d J . H .
G u lic k .
G O V E R N I N G C O M M I T T E E .— S am uel In s u ll, G ilb e r t E . P o r t e r ,
B r itt o n I . B u d d , J . I I . G u lic k a n d W . A . F o x .— V . 106, p . 821.
(1 ) M e t r o p o l i t a n W e s t S id e E le v . R y .— A n e le ctric r o a d .
O R G A N I Z A T I O N .— O rga n ized in I llin o is J a n . 16 1899. S u cce sso r o n
F e b . 3 1899 (p e r p la n In V . 6 7 . p . 126) t o th e
so ld u n d e r fo r e
clos u re o n J a n . 4 1899. F ra n c h ise expires A p r il 7 1942.
STOCK A N D BONDS—
C o m m o n , $ 7 , 5 0 0 , 0 0 0 - - ...............................................
$ 7 ,4 6 2 ,8 0 0
See t e x t .
8 ,7 0 7 ,5 0 0
See te x t .
P r e f, 6 % n o n -c , $ 9 , 0 0 0 , 0 0 0 - .....................................
1898
4 g F -A
1 0 ,0 0 0 ,0 0 0 A u g 1 1938
F irs t m o r t g a g e , $ 1 0 ,0 0 0 ,0 0 0
($ 1 ,0 0 0 ). g o l d ................ c * t f C e n t . T r u s t C o . , N . Y . t a n d G . S h e rm a n , T r .
I n 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 .
1901
4 g J-J
a 5 ,0 0 0 ,0 0 0 J u ly 1 1938
E xt
m o r tg a g e ,
$ 5 ,0 0 0 ,0 0 0
($ 1 ,0 0 0 ), g o ld , red a t 105 N o r t h o m T r u s t C o . , C h ic a g o , T r u s te e .
o n a n y in teres t d a y o n 4 In te re st a t c o m p a n y ’s o ffic e in C h ic a g o , or
___ ______________________ f
C e n tra l T r u s t C o . , N e w Y o r k .
w eeks n o t ic e _______ — c * t__
E q u ip m e n t tru st cer tific a te s — S ee u n d e r C h ic a g o E le v a te d R a ilw a y s ,
a $ 5 6 7 ,0 0 0 In clu d ed in th is a m o u n t Is h e ld b y C h ic . E le v . R y s . c o ll, tru s t.
T h e ex ten sion m o r tg a g e o f 1901 c o v e r s th e exte n sio n as a firs t h e n ,
also 68 c a r s , a 3 ,5 0 0 h . p . e n g in e a n d th e n ew d o w n -to w n term in al; th e
b o n d s a lso c o v e r th e rest o f th e p r o p e r t y as a s e c o n d lie n , s u b je c t to th e
$ 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 as g u a ra n teed $ 4 9 8 ,0 0 0 b o n d s o f U n io n C o n s o lid a te d E le v a te d .
L A T E S T E A R N I N G S .— See jo in t s ta te m e n t u n d e r C h ic . E le v . R y s .
RilrodC.
a a o
Dte In ret. Ots n’g Mtu ,&.
a . te s u tad . a rity c
N spra rpr nwmd fo t es bid rycmaie.
o e a te eots o ae r h us ia o pn s
D I V I D E N D S .— F o r d iv id e n d r e c o r d s e e " E le c t r ic R a ilw a y ” S e c tio n fo r
M a y 1916. D iv id e n d s n o t n o w r e p o r t e d a s a ll th e s to c k is o w n e d b y
C h ic a g o E le v a te d R y s .
R O A D .— F ro m term in al s ta tio n a t 5th A v e . w e s te rly a b o u t 6 H m ile s,
w ith b ra n ch es; tota l len g th o f ro a d (in clu d in g D o u g la s P a rk b ra n ch and
exten sion a n d G a rfie ld P a rk b r a n c h ), 2 3 .6 5 m ile s. M ile s o f sin gle tr a c k ,
o w n e d , 4 5 .2 9 ; u n d er c o n t r a c t , 6 .5 3 ; to ta l o p e r a te d , 5 1 .8 2 m iles o f t r a c k ,
e x c lu siv e o f 7 .7 7 m iles o f s id e tr a c k s . S ta n d a rd g a u g e . R ig h t o f w a y Is
ow n e d in fe e . 286 m o t o r c a rs , 283 c o a ch e s a n d 15 m is ce lla n e o u s .
O n M a r c h 11 1905 th e ca rs o f th e A u ro ra E lg in & C h ic a g o R y . began
op e ra tin g o v e r this c o m p a n y ’s lines t o th e 5th A v e . term in al u n d e r a tr a ffic
a g re e m e n t, th e M e t . W e s t S id e , In tu rn , secu rin g th e rig h t t o th e te rrito ry
w es t o f th e 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 e s
P la in es 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 .— C h a ir m a n o f B o a r d , S am u el In s u ll: P r e s ., B . I . B u d d .
S e c. & T r e a s ., W . V . G r iffin ; A u d ., T . II. M c R a e : G e n . M g r .. E . O . N o e .
O ffic e , 72 W e s t A d a m s S t.. C h ic a g o . V . 9 3 , p . 4 69 ; V . 105, p . 2 27 2 .
(2) N o rth w e ste rn E le vate d R R .
F nh e
ra c iss
O R G A N I Z A T I O N .— I n c o r p . in Illin o is .
R o a d w as fo r m a lly o p e n e d
fo r business on M a y 31 1900. V . 7 0 . p . 1049.
e x te n d b e y o n d
th e m a tu r ity o f th e b o n d s .
. .
__ ____ _
_
In S e p t. 1901 th e U n io n E le v a te d R R . w as a c q u ir e d . T h e C h ic a g o E le
va ted R y s . p r o v id e d th e cash t o tak e u p th e $ 1 8 ,0 0 0 ,0 0 0 N o rth w e s te rn
E le v a te d 1st 4s w h ic h m a tu r e d S e p t. 1 1911.
__ ______
„
,
O n A u g . 21 1911 s to c k h o ld e r s a u th o riz e d $ 2 5 ,0 0 0 ,0 0 0 1st M . 5s ( V . 9 3 .
p . 5 2 7 ). N o n e o f th ese b o n d s s o ld a t th e tim e , b u t in J u ly 1914 $ 1 2 ,5 0 0 ,
0 00 w ere sold ( V . 9 8 , p . 1920) t o a s y n d ic a t e o f ban k e rs a n d s u b se q u e n tly
d isp o s e d o f b y th e m .
STOCK A N D BONDS—
$ 4 ,9 4 6 ,4 0 0 .......................
C o m m o n s t o c k , $ 5 .0 0 0 .0 0 0 ___ ______
________
4 ,9 4 4 ,4 0 0
See t e x t.
P r e f s t k . 5 % n -c , $ 1 5 . 0 0 0 , 0 0 0 .------M -S
1 2 ,5 0 0 ,0 0
p
1st M $ 2 5 ,0 0 0 ,0 0 0 red as a f 1911
5 g M -S
___________0 S e . t. 1 1941
w h o le a t 102 & Int on 301111. T r .
S a v . B k ., tru s te e , u n d e r m tg e .
d a y s ’ n o tic e ( $ 1 . 0 0 0 ) .c * t f [C e n tra l T r . C o . , N . Y . , tru s te e u n d . s u p . M .
E q u ip m e n t n o t e s __________t f
-------6%
16.0 00 N o v 1 1918
E q u ip m e n t tru s t ce r tific a te s o f 1914— See u n d e r C h ic a g o E le v a te d R ailw a y s
T h e 1st M . b on d s are an a b s o lu te firs t lie n , s u b j. o n ly t o th e U n io n E le v .
R R . 1st M . os; a lso secu red b y d e p o s it o f $ 5 2 8 ,0 0 0 U n io n E l. 5s. T h e re
m ain in g $ 12 ,5 0 0 ,0 0 0 N o rth w e s te rn b d s . m a y b o issued o n ly fo r ca sh c o s t o f
b e tte rm e n ts , ex ten sion s an d a d d ’ns a cq u ire d a fte r J u ly I 1914 u n d e r certa in
c o n d itio n s .
S i n k i n g f u n d o f 1 % o u ts ta n d in g b o n d s p a y a b le a n n u ally
b eg in n in g S e p t. 1 1919.
L A T E S T E A R N I N G S .— See Joint sta te m e n t u n d er C h ic a g o E le v . R y s .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
&
N spr te rpr nwmd fo t es bid ry cmaie.
o eaa eots o ae r h us ia o pn s
D i v i d e n d s . — A n in itia l d lv . o f 1 % w as p a id o n p r e f. O c t. 18 1909 a n d 1 %
q u a r . t o A p r il 1911; n on e th erea fter t o M a r c h 1912, w h en 2 % w as p a id .
D lv s . n o t n o w r e p o r t e d , as en tire s to c k Is o w n e d b y C h ic a g o E le v a te d R y s .
R O A D .— M ile s o f sin gle tr a c k : O w n e d , 4 0 .6 4 m .; o p e ra te d u n d e r c o n
t r a c t , 16.64 m .: t o t a l, 5 7 .2 8 m . ( o f w h ic h 7 .6 2 m . sid e t r a c k ). R ig h t o f w a y
Is all ow n e d in fee e x c e p t a t str e e t crossin gs.
U n d er an o p e ra tin g a g re e m e n t w ith th e C h ic a g o M ilw a u k e e & S t. P aul
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 x te n d e d M a y 16
1908 t o E v a n s to n o v e r th e E v a n s to n D iv is io n o f th e fo r m e r r o a d . Ser
v ic e o n n ew tr a c k e le v a tio n t o elim in ate gr a d e crossin gs w as co m m e n ce d
J a n . 6 1916 o n this d iv is io n . E xte n sio n t o W ilm e tte o p e n e d A p ril 1912.
A ll tra ck o p e r . (in c l. l o o p ) , 6 1 .2 8 m ile s . 8 0 -lb . T . ra ils. 230 m o t o r ca rs .
2 02 c o a ch e s a n d 4 m is cella n e o u s ca rs .
O F F I C E R S .— S a m e as f o r M e t r o p o lita n W e s t S id e E le v . R y . — V . 9 8 ;
p . 1920; V . 9 9 , p . 1131; V . 100, p . 2 3 0 , 3 9 9 , 1079, 1350; V . 105, p . 2 27 3 .
(a) U n io n E le vate d R a ilr o a d .
Is used b y all th e C h ic a g o e lo v a te d r o a d s a n d Is o w n e d b y N o rth w e s te rn
E le v a te d R R . ; rec eiv es H e . f o r e a ch pa ssen ger c a rr ie d , besid es all expenses
fo r o p e r a tin g , rep airs a n d ta x e s.
expires In 1945.
BONDS—
ls t M .$ 5 .0 0 0 ,0 0 0 ,g ( f l , 0 0 0 ) c p t 1895
5 g A -O
$ 4 ,4 7 2 ,0 0 0 O c t 1 1945
a t C h a s e N a t . B a n k . N . Y . , a n d I l l . T r u s t & S a v . B a n k , C h ic a g o .
— O f t h e $ 5 ,0 0 0 ,0 0 0 b o n d s Issu ed , $ 5 2 8 ,0 0 0 are d e p o s ite d as s e
c u r ity fo r th e $ 1 2 ,5 0 0 ,0 0 0 N o rth w e s te rn E le v . 5s.
Inns
r
Btee.t
o ds
F nh e
ra c is
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
R O A D .— T h e loop Is 2.00 miles in length, double-tracked (80-lb. rails),
and runs on L a ke S t. to Wabash A v e ., to V an Buren S t., to F ifth A v e ., to
L a k e S t. Road opened O ct. 10 1897. Tra in s of the Chicago Sc O ak P a rk ,
Metropolitan W est Side, Northwestern Elevated R R . and South Side
[Vol. 106
ELECTRIC -RAILWAYS
28
o p e ra te o v e r t h e l o o p . N o rth w e s te rn E le v . also ow n s .15 m ile o f d o u b le
tra ck fr o m c o n n e c t io n w ith lo o p a t V an B u re n & S ta te streets t o co n n e c tio n
w ith S o u th S id e E l. R R . . w h ic h is leased t o th e la tt e r . V . 9 7 . p . 5 22 .
(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 e le c tr ic e le v a ted
r° O R G A N I Z A T I O N .— S u ccessor J a n u a ry 1897 t o C h ic a g o & S o u th S id e
R . T . R R . (fo re clo s e d p e r plan V . 6 3 , p . 1 1 5 8 ). J u ly 31 1900 t h e A p p e lla te
C o u r t su sta in e d th e v a lid it y o f th e fo re clo s u re ( V . 7 1 , p . 2 3 6 ). a n d o n F e b .
2 1 1 9 0 2 t h a t d e cis io n w a s c o n cu rr e d in b y th e S ta te S u p re m e C o u r t .
V . 74.
p . 477.
exp ires M a r c h 26 1938. L e a se s th e C h ic a g o J u n c tio n
R R . , w h ich see b e lo w .
STOCK A N D BONDS—
Q -M
$ 10 ,2 3 1 ,4 0 0
------
S to c k , $ 1 0 ,2 3 1 ,4 0 0 ____________ ______
F irst m o r t g a g e , $ 8 ,0 0 0 ,0 0 0 ,1 1904
4 H g J-J
8 ,0 0 0 ,0 0 0 J u ly 1 1924 ■
g o ld ($ 1 3 )0 0 )_________ c * t f / I n t . a t 111. T r . & S a v . B a n k . C h i c ., T r u s t e e .
E q u ip m e n t tru s t c e r tfs .— See u n d er C h ic a g o E le v a te d R y s .
.— A r e s u b je c t t o c a ll a t 105 a n d In te re st.
. .
.
.— See " E le c t r ic R a ilw a y ” S e ctio n fo r M a y 1916. D iv id e n d s
n o t n o w m a d e p u b lic , as e n tire s to c k is o w n e d b y C h ic a g o E le v a te d R y s .
R E P O R T .— See jo in t s ta te m e n t u n d er C h ic a g o E le v . R y s . N o s e p a ra te
re p o rts n o w m a d e fo r su b sid ia ry c o s .
,
,____ .
R O A D .— O w n s e le v a te d ro a d in o p e ra tio n In C h ic a g o u p o n a p u rch a sed
r ig h t-o f-w a y fr o m C o n gre ss S t. t o J a c k so n P a rk a n d t o E n g le w o o d . E le c
tr ic ity w a s in tr o d u c e d as m o tiv e p o w e r la te in A p r il 1898. O p e rate s 430
m o to r ca rs , 52 c o a ch e s a n d 14 m is c . ca rs . O n 16.24 m ilos o f s tr u ctu re has
a t o ta l o f 3 6 .5 0 m iles o f sin gle tr a c k m ain lin e in c l. 6 .2 2 m . le a se d . A ls o
has 9 .6 6 m ilos o f s id e -tr a c k , m a k in g to ta l tra ck 4 6 .1 6 m ile s.
O F F I C E R S .— S am e as fo r M e t r o p . W e s t S id e E le v . R y .— V . 9 3 , p . 528;
V . 105, p . 2 27 3 .
(a) C h i c a g o J u n c t i o n R R .
O R G A N I Z A T I O N .— O rga n ize d in th e in te re s t o f th e S ou th S id e E le v a te d
R R . t o b u ild lines t o c o n n e c t th a t c o m p a n y ’s tra ck w ith th e S to c k Y a r d s .
O n ly a n o m in a l a m o u n t o f s to c k has been Issued ($ 5 0 ,0 0 0 ), w h ich is h e ld in
trust fo r th e S o u th S id e E le v a te d In case th a t c o m p a n y s h o u ld a t a n y tim e
wish t o a b s o r b i t . Is leased t o th e S o u th S id e E lo v a te d fo r 50 yea rs (w ith
rig h t t o p u rc h a se a t c o s t w ith in 20 y e a r s ), re n ta l b e in g Interest o n b o n d s ,
tax e s, & c .
are w ith o u t lim it.
STO CK A N D BON DS—
S to c k
___ ____ _ _ _ _ _ _ _ _ _
Sod to x ti
—
1st m tg e ,"* $ 2 ,*327.000, g o l d ] 1905 4 g M -S
$ 2 ,3 2 7 ,0 0 0 M c h . 1 1946
S a v . B a n k , C h ic a g o , T r u s t e e .
f $ l 0 0 0 ), gu a r p & I____ c * I F irst T r u s t
.— 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 o f co n s o lid a tio n w ith
S o u th S id e E le v ., this issue o f b o n d s is t o b e r e tire d . V . 8 0 , p . 8 71 . B o n d s
are g u a r ., p . & L , 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 . 5 68 .
R O A D .— C o n 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 S ide
“ L ” a t 4 0 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 ., A . E . R a w s o n ; V . - P ., H . E . P o r o n t o ; S e c ., T h o r n
h ill B r o o m e ; T r e a s . & A s s t. S e c ., J . W . A u s tin ; A s s t. T r e a s ., F . D . O C o n
n o r ; A u d ., C . C . C h a c o .— V . 8 7 , p . 3 4 6 . •
F nh e
ra c is
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bivde d
oid
Dnsns
F nh e
rac iss
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S
c
Bns
od
C H IC A Q O & O A K P A R K E L E V A T E D R R .
.— O n N o v . 13 1911 J u d g e IC ohlsaat a p p o in te d S am u el
In s u ll re c e iv e r fo r th e
9 3 , p . 1386. O n D e c . 29 1911 re
ce 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 c e 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 re c e iv e r fo r th e
C o.
V . 9 4 , p . 123.
.— J u d ge ICohlsaat in th e U . S . D is tr ic t C o u r t a t C h ic a g o , on
J u ly 17 1913, o rd e re 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 w as $ 5 ,0 8 0 ,9 8 4 . U p t o M a y 15 1918 r o a d h a d n o t been s o ld .
.— O n Ju n e 20 1912 O e o . H . C h u r ch b id in fo r $ 2 5 6 ,0 0 0
th e fo llo w in g secu rities fo rm e rly o w n e d b y th e C h ic .
O a k P a r k E le v .
$ 85 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 . A
O a k P a rk E le v . R R . v a r io u s ly d a te d fro m A p r il 23 1904 t o J u n e 15 1 91 0 .
a gg re ga tin g $ 1.9S 9.52S ; $ 5 ,8 5 0 L a k e S t. E le v . R R . in c . b o n d s s c r ip . A t
S h e r iff’s s a le in N e w Y o r k o n J a n . 26 1912, M r . C h u r ch b id in fo r $2,0 00
a ll title o f th 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 , a lso s o m e $ 47 3,000
a d d itio n a l n o te s o f th e R a ilro a d C o ., a n d in ce r tific a te s fo r 9 1 ,6 51 1 7-40shares 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 ie v .
w as in c o r p . in N e w Jersey o n A p r il 22
1904 t o h o ld th e secu rities o f th e C h ic a g o
O a k P a rk E le v a te d
C o ., fo r m e r ly th e o ld L a k e S tre e t E le v a te d R R . , re o rga n ize d p e r p lan in
V . 7 7 , p . 1874; V . 7 8 . p . 1392. N o rth w e s te rn E le v a te d ow n s 6 1 % o f s to c k .
expires in 1930.
STOCK A N D BONDS—
S to c k
—-—
-------$ 1 0 ,0 0 0 ,0 0 0 - —
—
L a k e s F E f l s t S l $ 5 r6b 0, 000, ( 1893 5 J -J
'
4 .4 3 2 .0 0 0 J u ly 1 1928
gu ar b y N W E l_________ t f i A m e r ic a n T r u s t
S a v . B a n k , C h ic a g o , an d
.............
« \ c e n t r a l T r u s t o f Illin o is , C h i c ., T ru s te e s .
gu ar u y is yy
I n c o m e m t g e , $ 1 ,0 0 0 ,0 0 0 ----------------6%
------------------E q u ip m e n t n o t e s -------------------------------------------189 ,00 0 ------------------R e a l e sta te m tg e s ------------------------------- --------------0 ,8 6 2 ----------- -------R e c e iv e r ’s c e r tfs , $ 2 , 0 0 0 , 0 0 0 - - ........
...........—
1 .1 4 2 .0 0 0 ----------------- -.— F irst m o rtg a g e b o n d s a ssen tin g t o r e o r g a n iz a tio n w ere s ta m p ed
s u b je c t t o call a t 105 a n d in t. o n a n y in te re st d a t o .
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 iu 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 lo v a te d ra ilw a y fr o m F ifth A v e n u e an d
L a k e S treet t o 52d S t. a n d L a k e S t ., w ith s p 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 ega n ru nning a ro u n d th e lo o p in O c t . 1897. C h ic a g o &
n a r le m fo rm s an e x ten 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 ota l
sin gle tr a c k , 22. 51 m ile s.
186 passen ger ca rs .
„
R E P O R T .— F o r yea rs e n d in g J u n e 30 fo r
C o.
Rcivrs ip
ee e h
Rilrod V
a a. .
Rilwy
aa
Freloue
o c sr
Sleo Sc ritie
a f eu s
S
c
R.
y
F nh e
ra c is
S
c
R.;
y
Rilrod
a a
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S
c
r,i
Bns
od
Ya
e r—
1916-17
Gos
r s.
a
Nt. Oilrod Ca e. Dfic
e Re In hrgs e it.
t r ac.
h
$ 93 8 ,2 8 8
$ 2 5 9 ,1 2 2
$ 4 ,4 9 6 $484,221 $220,603
1915-16
8 7 3 .2 6 7
222,310
4 , 19 s 449.997 223,459
1914-15 ............................ 8 4 3 .6 8 2
2 4 0 .2 8 8
4 .3 6 2
4 3 3 ,8 4 5
189,195
1913-14 ............................ 8 7 8 ,8 0 5
2 4 9 ,2 2 4
3 ,7 1 4
4 3 0 ,7 4 9
177.811
1912-13 ............................ 8 6 2 .7 3 7
2 2 9 .3 2 8
4 .3 1 3
3 9 9 .9 5 6
166 ,31 5
R E C E I V E R .— S am uel In s u ll.— V . 9 9 , p . 9 69 , 1213; V . 105, p . 2271.
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 fr o m U n io n E le v a te d a t
6 th A v e . w e st t o M a rk e t S t.; th e n c e t o M e tr o p o lita n W . S . E l.; to ta l,
1-6 m ile o f tra ck : Is o p e ra te d b y th e M e tr o p o lita n W e s t S id e E l.
expires O c t . 7 1945.
. .
O n J u ly 7 1914 J u d g e W ln d e s In th e C ir c u it C o u r t h e ld th a t S ta te A t t o r
n ey H o y n o s h o u ld b e p r e v e n te d fro m p ro c e e d in g a ga in s t th e c o m p a n y on
th e g r o u n d o f o v e r c a p ita liz a tio n . See ite m u n d e r c a p t io n o f “ C h ic a g o
E le v a te d R y s .” in V . 9 7 . p . 1 4 2 5 , a n d a lso see V . 9 9 , p . 199.
STO CK A N D BON DS—
S to c k „ ................................................................................
$ 1 ,0 0 0 ,0 0 0 .......................
Series “ A " 1st m tg e , g o l d .l 1896 5 g M - N
4 5 3 ,0 0 0 N o v 1 1936
g u p &1 b y M e t W S E L c p t f G . S h erm a n , V . - P . C e n . T r . C o . , N . Y . , T r u s t
M o r tg a g e $ 1 ,0 0 0 ,0 0 0 , o f w h ich $ 5 0 0 ,0 0 0 series “ A . "
V . 6 3 , p . 1 06 5 .
O 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 ts ta n d in g ( o f w h ic h $ 4 6 ,
000 hold 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 trea su ry a n d $ 2 ,0 0 0
F nh e
ra c is
Dte in ret. Ots nin. Mtu
a , te s u tad g a rity
O F F I C E R S .— P res ., S am uel In su ll; V . - P . , G ilb e r t E . P o r te r ; S e c . an d
T r e a s ., W . V . G r iffin .— V . 9 9 . p . 199.
CINCINNATI, OHIO.
Rcivrs ip
ee e h .
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 .
— T h e U n ion S a v . B a n k & T r u s t C o . o f C in c in n a ti, tru s te e
o f b o th m o rtg 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 s an d in a b ility t o m eet m a tu rin g b o n d issues bein g assigned as th e
ca u s e.
V . 9 6 , p . 1 1 5 6 . In terest o n b o th m ortg a g es is in d era u lt. O n
D e c . 19 1916 M a s te r C o m m iss io n e r R ic h a r d O . S w in g o ffe r e d th e c o m p a n y ’ s
a ssets fo r s a le , b u t r e c e iv e d n o b id s . T h e p r o p e r t y Is a p p ra ised a t $ 8 5 0 ,0 0 0 .
O R G A N I Z A T I O N .— I n c o r p . J a n . 21 1903.
exp ire in 1930.
F o r d ecis ion o f U . S . S u p rem e C o u r t h a n d ed d o w n o n N o v . 11 1912. h o ld
ing th a t t h e B .
S ou th w estern a n d th e N o r fo lk & W estern (s tea m )
roa d s c a n n o t b e com p e lle d t o g ran t p h y sica l co n n e c tio n w ith th e c o m p a n y .
SO
c.
F nh e
rac iss
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
8e8T O O K I n d B O N D S—
$ 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 % cu 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 .
J 1905
5 g J -J
6 00 .0 0 0 J u ly 1 1913
g o ld _______________________ c * f l n t . a t U n io n S a v . B k .
T r . C o ., O ln .,T r u s t .
S e co n d m tg e n o te s , $ 2 5 0 . 0 0 0 / ------5%
148 ,00 0 Jan
1 1914
l i n t . a t U n io n S a v . B k . & T r . C o . , C in c in n a ti.
S
c
29
ELECTRIC RAILW AYS
MAY, 1918.]
Bns
od
— T h e d en om in a tion s o f th e firs t m o rtg a g e b o n d s a re , r e s p e c t iv e ly ,
8 S 50 .0 0 0 ; 30 5 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 a t
a n y tim e a t p a r . B o n d s orig in ally m a tu r e d J u ly 1 1009 b u t w ere e xte n d e d
f 0Py a u y e a rs . V . 8 9 , p . 102, 7 2 0 . O n J a n . 1 1912 th e y w ore a gain e x
te n d e d l l m o n t h s .
S e co n d m tg e . n o te s fe ll d u e J u ly 1 1912 b u t w e r e
I
S
D e c . 31 1917, g r o s s . $ 1 5 0 ,5 7 1 ; n e t,
51 R O A D .— O peratear54Sm U ^ o ^ t r 'a c k * b e t w e e n ' C in c in n a ti a n d H ills b o r o ,
p u t In c o m p le te o p era tion In F e b . 1906. S ta n d a rd g a u g e , 7 0 -lb . T r a il.
D O F F I C E R S .— P r e s ., I I . H . H o ffm a n ; V . - P ., C . .1. G o ld b e r g ; A u d .,
H E S - V
. 9 6 , p . 1156; V . 103, p . 6 65 , 1980; V . 104, p . 7 2 .
a g e , In cl. s e c o n d , m a in , s id in g s, & c ., 77 m ile s . O p e r a te d tr a c k a g e , ln cl.
tr a ffic arran gem en t in C in cin n a ti, 89 m iles.
G a u g e , 5 f t . 2>3 In. O ars
en ter C in cin n a ti o v e r t h e tra ck s o f th e C in cin n a ti T r a c t io n C o . 7 0 -lb .
a n d 9 7 -lb . T rail.
O F F I C E R S .— P r e s .. G e o . H . W o r th in g to n : V . - P ., J . M . H u t t o n ; S e c.
a n d T r e a s ., M . A c k e r m a n n .— V . 102, p . 522; V . 105, p . 2272; V . 106, p . 9 2 9 .
O H IO 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 o r a te d In O h io o n M a y 2 2 1905 a n d ow n s
p r a ctica lly th e e n tire ca p ita l s to c k o f th e C in cin n a ti T r a c . C o . , th e C in c in
n a ti Z o o lo g ic a l C o . an d C in cin n a ti C a r C o . , b esides an Interest In tn e
c o m . a n d p r e f. s to c k o f th e C in cin n a ti D a y to n & T o le d o T r a c . C o . O n J u ly 6
1905 lea se o f th e C ln . & H a m ilto n T r a c . C o . w as assigned t o this c o m p a n y
b y th e C ln . In te ru r b a n C o . an d th e la tte r c o m p a n y p la c e d In liq u id a tio n .
C I N C I N N A T I G E O R G E T O W N St P O R T S M O U T H R R .
T h is c o m p a n y also a cq u ire d th e p r o p e r t y o f tn e T r a c t io n B u ild in g C o . ,
O R G A N I Z A T I O N .— F orm e rly a n a rr o w -g a u g e s te a m r o a d , b u t n o w
w h ich w e n t in to liq u id a tio n .
op e ra te d b y b o th e le ctricity an d s te a m . U n d er O h io la w rem ain s a ste a m
STOCK—
r o a d . H a s n o f r a n c h i s e lim ita tio n s a n d Is lo c a te d o n p r iv a t e r ig h t -o f-w a y .
$ 8 ,6 5 5 ,0 0 0 See t e x t .
I n S e p t. 1911 en tered In to a m a n a g e m e n t a g re e m e n t w ith th o F e lic ity & C o m m o n , $ 1 0 ,0 0 0 ,0 0 0 ($ 1 0 0 )----------8 .5 0 0 .0 0 0
See t e x t .
P r e f, $ 1 0 ,0 0 0 ,0 0 0 , 5 % c u m ..................
B e t h o l R R . a n d th e O h io R iv e r & C o lu m b u s IIR. (a s te a m r o a d ) . V . 9 3 .
2 .5 0 0 .0 0 0
1936
d . 796.
O n J a n . 1 1914, h o w e v e r , m a n a g e m e n t c h a n g e d a n d th e O h io F irst m tg e , $ 2 ,5 0 0 ,0 0 0 , g o l d , / 1911
sin k in g fu n d ($ 1 ,0 0 0 )______ t i n t , a t F id e lity T r u s t C o . . P h lla .. T r u s t e e .
R iv e r & C o lu m b u s w as a ga in d iv o r c e d fr o m th e o t h e r t w o r o a d s .
H as
6 M -S
1 .0 0 0 ,0 0 0
S ee t e x t .
N o t e s $ 1 ,6 0 0 ,0 0 0 ($ 1 ,0 0 0 )____ 1915
c o n tr a c ts t o s u p p ly o lo c tr ic c u rre n t fo r m u n icip a l d is t r ib u t in g s y s te m s o f
— F u rth e r Issues o r s to c k ca n o n ly b e m a d e fo r a c q u ir e m e n t o f
o th e r p ro p e rtie s a n d a d d itio n s t o th e p resen t p ro p e rtie s .
° °F a r e D ecision'.— On* F e b P i 7° i 9 14 th e O h io S u p rem e C o u r t su sta in o d th e
— F irst m tg e . c o 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 t io n
rig h t o f th is c o m p a n y a n d th e In te ru r b a n R y . & ro r m ln a l C o . t o c h a r g e
C o . a n d C in cin n a ti C a r C o . o w n e d an d c o n tr o lle d b y O h io T r a c . a n d all
1 0 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 h io ) ,
o th e r p r o p e r ty a n d fra n ch ises e x c e p tio n T r a c t io n c o s . o w n e rsh ip o f s t o c k in
b o t h n o w fo r m in g p a r t o f C in c in n a ti. V . 9 8 , p . 6 1 0 .
D . & T . T r a c . C o . a n d C in cin n a ti Z o o lo g ic a l C o . B o n d s a re r e d . as a
O n J a n . 15 1918 th e In te r-S ta te C o m m e r c e C o m m . a u th . a n Increase o f O .
w h o le o r In p a rt fo r sin k in g fu n d o n a n y in t . d a te a t 103 a n d in t . S in k in g
1 5 % in passen ger fares.
fu n d p ro v id e s fo r re tire m e n t o f b o n d s a t m a t u r it y . V . 9 2 , p . 7 2 6 . A m o u n t
STO CK A N D BON DS—
• in sin k in g fu n d S e p t. 1 1917. $ 3 9 2 ,0 0 0 . T h e notes m a tu r e S e p t . 1 y e a r ly
as fo llo w s : 1916. $ 2 0 0 ,0 0 0 ; 1917 a n d 1918, $ 3 0 0 ,0 0 0 ; 1919 a n d 1920, $ 3 5 0 ,
0 00 ; th e p r o p o r t io n o f m a tu r itie s a n d a ccr u e d in t . t o b e p r o v id e d b e fo r e
d lv s . are p a id . I n t . p a y a b le a t P e n n . C o . fo r In s . o n L iv e s & G r a n tin g
A n n u itie s , tru s te e . V . 100. p . 1 25 9 . $ 50 0 ,0 0 0 re tire d .
Bk.
— F irs t d l v . o n p r e f. s to c k — 1 4 i % — w as p a id A u g . 1 1905;
R O A D .— O p erates 5 3 .7 m iles fr o m C in cin n a ti s o u th e a s te rly t o R u s se l- a n d sam e ra te p a id q u a r . t o an d in c l. N o v . 1915. T h e F o b . 1916 d l v . w as
v llle . Inclu din g b ran ch os o r 3 .5 m . t o B a ta v ia an d 1 .5 m . t o C o n w I s la n d . d e fe rre d . See P res. S c h o e p f’s le tte r in V . 102. p . 4 3 7 . O n C o m . , firs t
T h e F e lic ity & B e th e l has 8 .5 m . o f tra ck be tw e e n th e p o in ts n a m e d in its d lv .— 1 % — p a id N o v . 1 1909. In 1 9 1 0 , O c t .. 1 % .
In 1 9 1 1 . J u ly , 1 % ;
O c t ., 1 % . In 1 9 1 2 , J a n ., 1 % ; A p r il, 1 % ; J u ly , 1 % ; O c t ., 1 % ; D e c ..
^ O F F I C E R S . — P r e s ., & T r e a s .. H e n r y A . H a ig h ; V . - P r M . , W . J . T h o m 1 % . In 1913, A p r il, 1 % . N o n e sin ce.
s o n ; S e c ., A . L . O . H e n r y ; G e n . M g r ., A . H . E lfn e r .— V . 1 06, p . 2 9 5 .
E A R N IN G S .
—
C I N C I N N A T I L A W R E N C E B U R O & A U R O R A E L E C T R I C S T R E E T 1 9 1 6 - . . ........................ $ 8 3 4 ,7 4 5 $ 7 8 2 ,1 1 6 $ 2 1 1 ,0 0 0 a $ 4 2 5 .0 0 0 $ 1 4 6 ,1 1 6
1 9 1 5 ____________
7 3 4 .0 4 8 6 8 7 ,7 3 8 2 1 0 ,2 2 4
b 4 2 5 .0 0 0
5 2 .5 1 3
R !^ e c c l® e r s h ip ^ T h e c o m p a n y h a v in g s u ffe re d d a m a g e f r o m t h e 1913 f lo o d .
a R e p re se n tin g c u m u la t iv e d iv id e n d s u n p a id ,
b In clu d e s th re e q u a rte rly
J u d g e W a r n e r a t C in c in n a ti o n J u n e 23 1913 a p p o in te d F . B . S h u tts, o f d iv id e n d s p a id a n d o n e q u a r te r ly d iv id e n d a ccu m u la te d b u t u n p a id .
F lo r id a , re c e iv e r o n a p p lic a t io n o f P ro s . J - O O F F I C E R S .— P r e e .. W . K e s le y S ch o e p f; 1st V . - P . , C h a s . P . T a f t : 2nd
lo a n e d t h e c o m p a n y $ 1 2 5 ,0 0 0 . V . 9 6 , p .
D o c . 28 1914 O .
. V .- P ., D a n a S te v e n s; 3 rd V .- P . a n d S e c ., W a lte r A . D r a p e r ; A s s t. S e c .,
H o o v e n w a s a p p o in te d r e c o iv e r u p o n th e r e s ig n a tio n o r r . 13. b n u tts .
D . J . D o w n in g ; T r e a s ., W . H . M a c A H ster: A u d ., H . L . S an ders: G e n . M g r .,
A . B o n h a m .— V . 102, p . 4 37 ; V . 103. p . 5 7 9 . 7 59: V . 104. p . 1593.
ORGANIZATION.— In c o r p o r a te d in N o v . 1898.
t h e r e in *
F r a n c h i s e . — In D o c . 1917 w as g r a n te d a n ow 20-y e a r fra n c h ise a u th o riz in g
(1 ) T h e C i n c i n n a t i T r a c t i o n C o .
th o c o . t o c o n s tr u c t a n ew lino w ith in c it y lim its in lie u 9$ *
ta n ce
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 F e b . 19 1901 w ith an a u th .
exis tin g r o u to , c o n s tr u c tio n t o b e g in w ith in o n e y e a r f i o m . O a t o o fa c c c p t a n c o
c a p ita l s to c k o f $ 2 ,0 0 0 ,0 0 0 (w h ic h , all e x c e p t 11 sh ares. Is o w n e d b y th e
o r fra n c h ise o rd in a n c e . T h o fra n c h ise giv e s th e c o . th o lig h t t o e a rry
p a ssen gers, fr e ig h t, express m a tte r, b a g g a g e , p a ck a g e s a n d U S. m all a n d O h io T r a c . C o . ) , t o ta k e o v e r u n d er lease th e C in cin n a ti S tre e t R y . C o .
p r o v id e s fo r 5 -co n t a n d 10-cen t fares w ith hair taro to r ch ild re n . A fte r 10 See V . 7 2 . p . 391.
— T h e e le cto rs o f C in c in
yea rs th o c o . m u s t p a y th o c it y $ 1 ,5 0 0 p er a n n u m .
V . 106, P :.6 9 4 .
R e c e iv e r 's C e r t i f i c a t e s —
F e b . 1918 a p p lie d fo r a u t h o r it y .t o i s s u e r e n a ti o n A p r . 17 1917 b y a v o t e o f 3 0 ,1 6 5 t o 14,286 ra tifie d th e fra n ch ise a n d
c e iv e r 's ce r tific a te s t o c o v e r c o s t o f p r o p o s e d im p r o v e m e n ts t o re d u c e lease o rd in a n c e p r e v io u s ly e n a cte d b y th e C it y C o u n c il a n d a p p r o v e d b y
th o R a p id T r a n s it C o m m , a n d th e C in cin n a ti T r a c . C o . T h o o rd in a n c e
op e ra tin g c o s t s .
S co V . 106, p . 7 15 .
m o d ifie s th e c o . ’s 5 0 -y e a r fra n ch ise , gra n te d in 1896, as p e rm itte d a t th e
STO C K A N D BONDS—
e n d o f 2 0 a n d 3 5 -y e a r p e rio d s an d c o n ta in s th e fo llo w in g m ain fe a tu re s :
(a) R e te n tio n o f 5 -c e n t fa re , w ith 3 -c e n t fares fo r ch ild re n , this fa r e an d
C o m m o n , $ 7 5 0 ,0 0 0 ................................................. —
* 7£ 2 ’Rnn ........................
th o u n iv ersal fra n sfe r fe a tu re t o e x te n d also t o th e lines o f th e C in cin n a ti
P r e f, 6 % c u m , $ 2 5 0 ,0 0 0 .........................
,
Q -J
-r tn o n n T i i i v 'l " 1919
T r a c t io n C o . o p e ra te d u n der lease a n d th e p r o p o s e d M u n ic ip a l R a p id
F irst m o r tg a g e . $ 7 5 0 .0 0 0 ------ 7 1899
5 g J-J
n l r 7£ 0^ ° ° o o L n
Tr
($ 1 ,0 0 0 ). g o l d .........................(in t e r e s t a t U n . S a v . B k . & T r . C o . . G in ., t r .
T ra n s it L in o .
C o n s tr u c tio n b y t h e c it y a t a c o s t o f a b o u t $ 6 ,0 0 0 ,0 0 0 (fo r w h ic h a
S T O C K .— P rer. s to c k w as Issued fo r m o n e y assessed o n ca p ita l s t o c k .
$ 6 ,0 0 0 ,0 0 0 b o n d issue w as v o t e d A p r . 25 1916) o f a ra p id tra n sit d o u b le
N o Interest has been p a id .
tra ck e d lo o p 15 >4 m iles in le n g th , e x te n d in g fr o m O a k le y S ta tio n t o C r a w
E A R N I N G S .— F o r ca len d a r y e a r 1917 a n d years e n d . Ju n o 30:
fo r d S ta tio n , w ith n o g r a d e cro ss in gs , a n d th e n c e b y a h ig h -sp e e d s u b w a y
a n d e le v a te d lino v ia B r ig h to n , F o u n ta in S qu are, E d e n P a rk a n d M a d is o n
,„ r r b a c k t o O a k le y ; a n d th o lease o f th e lo o p t o th e C in cin n a ti T r a c t io n C o .
l o i J - i V ...................... .............................
2 8 .1 4 2
37 5 00 d o f . 9 ,3 5 8
(c) C it y c o n tr o l o v e r s e rv ice , e xte n sio n s a n d all fe a tu re s o f o p e r a tio n .
i o i f c i f c : : : : : : : : : : : : : : : : : : : : : : lil:!® ?
37.500 d e f . l . o s s
A p p lic a t io n o f th e re c e ip ts o f th e e n tire s y s te m as fo llo w s , p a y m e n ts
R O A D .— Operates 3 7 .8 9 miles o f tra ck from A nderson’s F e r r y , a t C in t o b e cu m u la tiv e a n d In th e o rd e r n a m e d : F o r th e c o m p a n y : A ll o p e ra tin g
cinnati. to A u r o r a , H a rrison and Lawrencoburg.
e xp e n se s, taxes (e x c e p t c i t y ’s fra n c h ise ta x ) a n d d e p r e c ia tio n : ren ta ls fo r
leased lines: in te re st a n d s in k in g fu n d s o n b o n d s a n d n o te s ; in te re s t a n d
O F F I C E R S — R e c ., C . E . I l o o v e n .— V . 106, P- 3 9 4 , 7 15 .
sin k in g fu n d o n n e w c a p ita l; an a m o u n t s u b sta n tia lly equal t o 6 % o n th e
a gre e d v a lu a tio n , less a m o u n t re p re se n te d b y b o n d s a n d n o te s a n d s e cu rities
C I N C I N N A T I M IL F O R D & L O V E L A N D T R A C T I O N C O .
o r u n d e rly in g c o m p a n ie s . F o r th e c i t y : T h e su m o f $ 3 2 5 ,0 0 0 y e a r ly in lieu
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. J902 a n d p u rc h a s e d
o r p e rce n ta g e ta x o n g r o ss earn in gs; th e sum o f $ 1 2 0 ,6 0 0 y e a r ly f o r an
fran ch ises a n d righ ts o f th e C in cin n a ti M ilfo r d
E aste rn T r a c t io n C o .
a m o r tiz a tio n fu n d u n til $5.OOO,O00 is re a ch e d , w hen it ca n b e u s e d t o
re d u c e p u rc h a se p r ic e o r re d u c e p a y m e n t t o th e c o m p a n y . A n y b a la n c e
R e c e i v e r s h i p .— J u d go C u s h in g in th o C o m m o n P leas C o u r t o f H a m ilto n
C o . o n J u n e 7 1917 a p p o in te d P re s . C . C . H arris re c e iv e r o n th e application Is t o b o d iv id e d 5 5 % t o th e c it y an d 4 5 % t o th e c o m p a n y .
(e) P ro v is io n fo r gr a n tin g ru n n in g rig h ts t o in te ru rb a n lines d e sirin g
o f B e rn a rd H . K r o g e r, a la rgo b o n d h o ld e r w h o h a d O ^ a in e d a co n fe ss e d
e n tra n ce in to th e c i t y .
ju d g m e n t fo r $ 2 8 ,6 0 0 a ga in st th o c o m p a n y u p o n t w o n o t o s , th e in te re s t o n
P o s sib le a c q u is itio n b y th e c it y o f su rfa ce s y s te m a t a gre e d p rice
w h ic h n as n o t b een p a id s in ce J u ly 1916.
($ 2 6 ,2 3 8 ,9 5 0 p lu s a n y r e d u c ib le d e b t o u ts ta n d in g , less th e a m o u n ts in all
STOCK A N D BONDS—
s in k in g fu n d s a n d a m o r tiz a tio n f u n d ) , o r b y co n d e m n a tio n .
5 1 ,SV o ’a 5 x ......................
Com m on, $1,000,000 ($10 0 )............ ........................
R e v is io n o f a ll te rm s in 1931.
P r e f. $ 6 5 0 ,0 0 0 , 5 % c u m --------- ----------T7IT v " 'r i 6 5 R
L e a s e O r d in a n c e D e c la r e d I lle g a l. — O n M a r . 5 1918 th e O h io S u p rem e
F irst m o r t g a g e . $ 5 0 0 ,0 0 0 . g j 1 9 0 5 5 g J -J
-1 4 1 .^ 0 J. ^
1 1925
C o u r t d o cla re d th e fo r e g o in g o rd in a n c e illegal in s o far, as it p r o v id e s f o r th e
($ 5 0 0 ).....................................c * \ I n t . a t P r o v . S a v . B k . & T r . C o . . C ln ..T r u s t .
p a y m en c o f ch arges o n s ecu rities o f th e c o . (b o th e xistin g a n d fu tu r e issues)
— A re s u b je c t t o call a t a n y tim e at 110. See V . 8 1 , p . 2 64 .
b e fo r o th o p a y m e n t o f re n ta l o n c it y -o w n e d lin es. T h is cla u se th o C o u r t
E A R N I N G S .— F or y ea r e n d in g D e c . 31 1917. g r o ss , $ 8 9 ,6 0 0 ; n e t , a fte r h o ld , is a p le d g in g o f t h e c it y 's cr e d it in v io la tio n o f th e S ta te c o n s t itu tio n .
ta x es, d e f ., $ 9 ,0 8 7 . I n 1916, g r o ss , $ 88 ,56 8 ; n e t, a fte r ta x e s, $ 7 ,7 4 1 .
T h e C o u r t , h o w e v e r, u p h e ld th e o rd in a n c e In p r o v id in g fo r r e g u la tin g th e
R O A D .— O p erates 37 m iles o f tra ck fro m C in cin n a ti t o B la n c h e s te r . o p e ra tio n o f th o jo in t s y s te m b y an a d m in is tr a tiv e b o a r d o f ra p id tra n s it
G a u g e , 5 f t . 244 In.; 7 0 -lb . ra ils. E n te rs C in cin n a ti o v e r th e tra ck s o f th e co m m is s io n e rs. C o n fe r e n c e s w ere b e g u n M a y 11 1918 b y in terests r e p r e
se n tin g th e c it y , lo o k in g t o a r e v isio n o f th e fra n ch ise . See V . 106, p . 2 1 2 2 .
C in cin n a ti T r a c t io n C o .
M g r ., A . B e n h a m .— V . 103, p . 578; V . 104, p . 7 2 , 1591; V . 106, p . 2 1 2 2 .
O F F I C E R S .— P ros. & G e n . M g r ., C h a s . C . H a rris; A u d ., J . P . T ls c h o n NOTES—
d o r f .— V . 8 1 , p . 2 64; V . 100, p . 53; V . 104, p . 2451.
5 g J-J
$ 9 0 ,0 0 0 See t e x t .
E q u ip n o te s S er “ B ” $ 3 6 0 ,0 0 0 1910
g o ld ($ 1 ,0 0 0 )....................... c* I n t . a t F id e lity T r u s t C o . , P h lla ., T r u s t e e .
I N T E R U R B A N R Y . & T E R M IN A L C O .— A tr o lle y r o a d .
1911
6 g J -J
7 7 ,0 0 0 S ee t e x t .
E q u ip n o te s . Series “ C , ”
— O n O c t. 1 1914, o n a p p lica tio n o f th e W e stin g h o u s e E le c .
$ 2 2 0 ,0 0 0 . gold ($ 1 ,0 0 0 ) -C* F id e lity T r u s t C o .. P h ila d e lp h ia , T r u s t e e .
& M f g . C o ., a cr e d ito r fo r $ 2 ,5 0 0 , C h arles S . T h r a s h e r o f C io v o la n d a n d
E q u ip n o te s , ______
______
S eries__“ _ ., " 1912
D
5 g A -O
1 53 ,00 0 See te x t .
C h a rles M . L eslie o f C in cin n a ti w ere a p p o in te d re c e iv e rs . T h e W e stin g $ 3 4 0 ,0 0 0 , g o ld ($ 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 r u s te e
h ou se C o . ch arged th a t th o c o m p a n y h a d d e fa u lte d In th e p a y m e n t o f in E q u ip notos Series “ E ” $ 2 0 0 .- / 1914
5 g M -S
1 20 .00 0
See t e x t
teres t on its b o n d s a u d Is In solven t.
T h e c o m p a n y jo in e d in th e a p p lic a
0 00 g o ld ($ 1 ,0 0 0 )_______ c * i F i d e l it y T r . C o ., P h lla .. tru stee.
t io n .
See V . 9 9 . p . 9 6 9 , a n d 1052.
Series *‘ B ” are a firs t m o rtg a g e o n 100 n e w ca rs a n d m a tu r e $ 1 8 ,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 in O h io o n N o v . 3 1902 a n d is a c o n e v e r y six m o n th s fr o m J an . 1 1911 t o 1920, in clu s iv e . V . 9 1 , p . 154.
s o lid a tio n o f th e C in cin n a ti & E astern E le c tr ic I t y ., th e R a p id R a ilw a y C o .
Series “ O ” n o te s are a firs t m o rtg a g e o n 50 n e w ca rs . T h e y m a tu r e
an d th e S u b u rb a n T r a c t io n C o . In J u ly 1907 o b ta in e d a u th o r ity t o Issue $ 11 ,00 0 h a lf-y e a rly fr o m J a n . 1 1912 to J u ly 1 1921.
V . 9 3 , p . 5 26 . Series
$ 1 ,0 0 0 ,0 0 0 p r o f, s to c k , o f w h ich $ 90 0 ,0 0 0 w as in e xch a n g e fo r an e q u a l “ D " are a 1st M . o n 76 n ew c a rs an d m atu re $ 17 ,00 0 h a lf-y e a r ly fr o m A p r . 1
a m o u n t o f 1st m tg o . b on d s d a te d 1903.
V . 8 5 , p . 2 2 1 , 4 6 9 . T h e 1903
1913 t o O c t . 1 1 922, in c l. V . 9 5 . p .8 8 9 . Series “ E ” c o v e r s 60 n e w d o u b le
b o n d issue w as c a n c e le d . I n 1908 a n e w m o rtg a g e m a d e , as b e lo w .
tru c k cars a n d m a tu r e $ 1 0 ,0 0 0 se m i-a n n u ally fro m A u g . 31 1914 t o F e b . 29
1924. V . 9 8 . p . 6 8 9 , 9 9 9 .
— O n N o v . 19 1915 th e O h io S u p rem e C o u r t a ffir m e d th e
th e d ecis ion o f th e C ir cu it C o u r t o f H a m ilto n C o u n t y h o ld in g th a t th e c o m
R E P O R T .— F o r y e a r en d in g D e c . 3 1 :
_
,
_
p a n y Is o b lig e d t o c a rr y passengors fo r a 5 -c e n t fa ro b o tw e e n P le a sa n t R id g e
—
and K e n n e d y H eigh ts an d th o busin ess s e ctio n o f th e c i t y .
1 91 6 ...............$ 5 ,6 5 4 ,6 6 4 $ 2 ,7 0 3 ,6 3 4 $ 34 ,79 2 $ 7 3 0 ,0 0 9 $ 1 ,1 3 4 ,3 3 7 $ 8 0 4 ,4 9 6
F a r e I n c r e a s e . — In F e b . 1918 th o O h io P . U . C o m m . a u th . th e c o . t o
1 91 5 ............... 5 .3 0 1 ,2 9 2 2 ,5 4 4 ,1 7 9 44.1 24
7 02 .33 8
1 .1 3 4 .3 3 7 6 6 3 ,3 8 0
in crease fares fr o m 2 t o 2 44 ce n ts p e r m ile .
R O A D .— T h e C in c ln . S t. R y . com p rises 227 .48 m iles o f tr a c k In t h e c i t y
D e c i s i o n . — O n N o v . 26 1917 th e C o u r t o f A p p e a ls a t C in c in n a ti, re v e rsin g
o f C in cin n a ti, O h io , e x te n d in g a lso t o a d jo in in g s u b u rb s . T h e la st c a b le
th e ord er o f th o C o u rt o f C o m m o n P le a s, h e ld th a t th e re ce iv e rs h a v e
n o a u th . t o a b a n d o n th o fra n ch ise b e tw e e n C in cin n a ti a n d B e th e l as p r o line w as c o n v e r te d t o e le c tr ic ity In J u n e 1902. G a u g e , 5 f t . 2 4 i in .
O F F I C E R S .— C h a irm a n E x e cu tiv e C o m m , a n d P r e s ., W . K e s le y
p o s e d . S ee V . 105, p . 2 272.
S ch o e p f; V ic e -P r e s ., D a n a S tev en s: V ic e -P r o s ., W a lte r A . D r a p e r ; S e c .,
STO CK AN D BON DS—
M a tu r ity.
D.
J . D o w n in g ; T r e a s .. W . H . M a cA lls te r; A u d ., H . L . S an d e rs: G e n .
C o m m o n , $ 2 ,6 0 0 ,0 0 0 ($ 1 0 0 )........................................
$ 2 ,6 0 0 ,0 0 0 .................. ..
M g r ., A . B e n h a m .— V . 103, p . 578; V . 104, p . 7 2 , 1591; V . 106, p . 2122.
Pref $1,060.000 ($100) 5 % . . . .....................- —
1.000,000 ................. ..
(a ) C i n c i n n a t i S t r e e t R a i l w a y .— E le c tr ic .
F irst mortgage. $1,6 60 ,00 0,/ 1908
5 J -J
See text.
1928
g o ld
___________________t f l l n t . a t C itiz e n s ’ S a v . & T r . C o . , C le v ., T ru s
W as leased o n F e b . 21 1901 t o th e C in cin n a ti T r a c t io n C o . fo r th e u n e x pirod term o f th e fra n ch ise gran ted b y th e C it y o f C in cin n a ti o n A u g . 13
O n ly $ 12 2,500 o f b o n d s w ere a c tu a lly iss u e d , th o re m a in d e r
bein g u sed as collateral fo r lo a n s , b u t o n F o b . 7 1916 th o C itiz e n s ’ 1896, an d all s u ccessiv e ren ew als an d exten sion s o f th e s a m e . T h e re n ta l is
n a v s . & T r u s t C o ., C le v e la n d , as tru s te e , s o ld a t fo re clo s u re $ 1 ,3 2 4 ,0 0 0 in ten d ed t o p r o v id e d iv id e n d s o f 541 % fo r the firs t y e a r , 544 % fo r t h e sec
V . 72.
„ f th e b o n d s usod as colla teral t o th e h o ld e r o f a 6 % p ro m is s o ry n o te fo r o n d . 5 5 4 % fo r th e th ird a n d 6 % fo r the fo u r th y e a r a n d th e re a fte r.
p . 136.
it is cla im e d b y c o m p a n y , m a tu r e A p r il 22 1946.
« 1 ,3 0 0 .0 0 0 . d a te d Ju n e 12 1912.
— In June 1915 th e U . S. C ir c u it C o u rt o f A p p ea ls
*
— F o r th o yea rs e n d in g S e p t. 30 1917: G r o s s , $ 2 8 7 ,7 4 5 ; n o t a t C in cin n a ti, reversin g th o low er c o u r t , held th a t th e G o v e rn m e n t w as
(a fter ta x e s ), $ 4 ,0 8 1 ; in 1916, gro ss, $ 29 1 ,0 2 8 ; n e t (a fte r t a x e s ), $ 3 1 ,6 1 1 .
ob lig e d t o return t o th e C in cin n a ti S treet R y ., D a y to n & W e ste rn T r a c . C o .,
R O A D .— E x te n d s fro m C in c in n a ti t o N e w R ic h m o n d , 22 m iles; fro m
C o lu m b u s N e w a rk & Z a n esville E le c . R y . . F t . W a y n e V an W e rt & L im a
C in cin n a ti t o B e th e l, 33 m iles (in clu d in g 9 m iles jo in t l y o p e r a t e d w ith N ew
T r a c . C o . and In d ia n a C o lu m b u s & E astern T r a c . C o . a b o u t $ 1 0 0 ,0 0 0
R ic h m o n d l in e ), a n d fr o m C in c in n a ti t o L e b a n o n , 33 m ile s . O w n e d t r a c k co lle cte d fro m these com p a n ies un der th e o ld F ed era l co r p o r a tio n ta x la w .
Dte
a.
Ots nin. Ls D .
u tad g at ie
S c.
tok
Bns
od.
Dte In ret. Ots nin. Mtu
a . te s u tad g a rity
vtiSs?,.
Didns
iv e d.
Gos ce . hrd iv e d. S rpc.
ix
a s
Inrm. Inote Caee. Didns Blalu,
c se N
o
m F gs
u ne
Cl.Ya
a er
Laeo Pooe Mn ip lRp T nitL e
es f r psd u ic a aid ra s in.
In
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
()
b
lO’dn urn
do
()
d
&
if)
Dte In ret. OU d g Mtu .
a . te s u ttmin. a rity
t)
g
----t --y
Bns
od.
Dte In ret. Ots nin Mtu .
a . te s u tad g a rity
Rcivrs ip
ee e h .
RteDc io .
a eis n
Ya
er
Gos
r s.
Dte In ret. Ots nin.
a . te s u tad g
Bns
od.—
Ern g.
a ins
s
Fvr braahDc io.
aoaF Tc ise,is n
le nx e
Nt.
e
In Txs Rn ls S rp s
t. ae. e ta . u lu
ELECTRIC RAILWAYS
30
T h e q u estion a t Issue w as w h eth er these co m p a n ie s ca rried o n busin ess
w ith in th e m oan ing o f th e la w , h a v in g leased their p rop erties t o o th e r c o r
p o ra tio n s, and th e o n ly business d o n e b y th em b e in g t o c o llo c t a n d p a y o u t
th e ren tals u n der th e leases. T h e C o u r t h e ld th a t t h e y tra n sacted business
o n ly In ciden tally t o th a t o f th e lessor co m p a n ie s. V . 101, p . 2 12.
V a l u a t i o n . — See C in cin n a ti T r a e . C o . a b o v e a n d In V . 1 03, p . 6 78 .
L e a s e o f " L o o p . ” — See C in cin n a ti T r a c t io n C o . a b o v e .
O R G A N I Z A T I O N .— In c o r p o r a te d Ju n o 21 1880 a n d In 1896 p u rch a se d
M t . A d a m s & E d e n P a rk a n d M t . A u b u rn ro a d s.
S T O C K AND B O N D S —
P a r.
In te r es t.
O u ts ta n d in g . L a s t d i v . , A 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 S ee t e x t.
D i v i d e n d s . — T o a n d In clu din g A p r il 1901, 5 % p e r a n n u m ; J u ly 1 a n d
O c t. 1 1901 a n d J a n . 1 a n d A p r il 1 1902, 1 .3 1 2 5 % e a ch ; J u ly 1 1 902, O c t . 1
1902. J a n . 1 1903 a n d A p r il 1 1903, 1 .3 7 5 % e a ch ; J u ly 1 a n d O c t . 1 1903
a n d J an . 1 a n d A p ril 1 1904. ea ch 1 .4 3 7 5 % : J u ly 1 904. 1 4 4 % : O c t . 1904.
D iv id e n d s sin ce h a v e been a t th e rate o f 6 % p er a n n u m a n d w ill
so co n tin u e to th o en d o f lease an d Its ren ew als.
O F F I C E R S .— P r e s ., B . L . K U gour: V .- P .. E d w a r d G o e p p e r ; S e c.
T r e a s ., A . J . B e c h t .— V . 104, p . 7 2 , 1591, 1701; V . 106, p . 9 2 4 .
iyt%
.
S
t.
(2 ) C i n c i n n a t i & H a m i l t o n T r a c t i o n . — A tro lle y r o a d .
O R G A N I Z A T I O N .— T h is c o m p a n y w as o rg a n ize d In A u g . 1 9 02 as a
c o n so lid a tio n o f th o M ill C re e k V a lle y S treet R y . a n d th e H a m ilto n G len d a le
& C in cin n a ti T r a c t io n . V . 7 5 , p . 4 9 7 . O n S e p t . 30 1902 w as lea sed to th e
C in cin n a ti In teru rb a n C o . (V . 7 5 , p . 9 0 6 ), b u t o n J u ly 6 1905 lease w as
assigned to the O h io T r a c t io n C o . an d th e C in cin n a ti In te ru r b a n C o . p laced
In liq u id a tio n . R e n t a l, y ea r e n d . S e p t. 30 1 90 3 . $ 5 5 ,0 0 0 . in creasin g t o
$ 1 0 0 ,0 0 0 fo r 1915-16 a n d th erea fter.
O n J u ly 9 1914 J u d g e S ater In th o U . S . D ls t . C o u r t a t C o lu m b u s h eld
In v alid th e ord in a n c e passed b y th e C it y C o u n c il o n A p r . 27 1 91 4 , p r o v id in g
fo r a 5 -c e n t Instead o f a 1 0-co n t fa ro fr o m C in cin n a ti t o C a r th a g e a n d H a r t
w ell (see V . 9 8 , p . 1 3 9 2 ), a n d gr a n te d an I n ju n c tio n a g a in s t Its e n fo r ce m e n t.
V.9J,p.196.
S T O C K .— A u t h . a n d o u ts ta n d in g , c o m m o n . $ 1 ,1 0 0 ,0 0 0 ; 5 % cu m u la tiv e
p r e f ., 8 1 ,1 0 0 ,0 0 0 . P a r o f sh a res, $ 1 0 0 . D lv s . p a y a b le Q .-J .
D i v i d e n d s . — 5 % per an n u m Is b ein g p a id o n th e p r e f. s t o c k .
T h e fir s t
d lv . o n th o c o m . o f 4 4% was p a id J a n . I 1904 a n d V4% w as a gain p a id o n
A p ril 1, J u ly 1 a n d O c t. 1 1904. In 1905, 1 % ; in 1906. 1 4 4 % : In 1907, 2 % ;
In 1908, 2 % ; In 1909, 2 4 4 % : In 1 91 0 , 2 4 4 % ; In 1911 a n d 1 91 2 . 3 % ; sin ce .
1<
^RO AD *— O w ns a n d op era tos 3 6 .0 7 m iles o f tra ck fro m th e “ Z o o " In C in
c in n a ti t o H a m ilto n a n d 15 m iles fr o m C in cin n a ti t o D o c k la n d . G a u g e ,
5 f t . 244 In. O perates o v e r tra ck s o f C in cin n a ti T r a c t io n C o . fr 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 r e s .. H . H . H o ffm a n : V . - P . , B . L . K ilg o u r ; S e c. &
T r e a s ., A . J . B e c h t , a ll o f C in cin n a ti.— V . 9 9 , p . 196; V . 106, p . 924.
C L E V E L A N D , O H IO .
CLEVELAND RAILWAY CO.
T h e rec eiv ers o f th o M u n i c i p a l T r a c t io n C o . h a v in g b e e n d isc h a rg e d and
th e d e b ts o f th a t c o m p a n y p r o v id e d f o r , th e C le v e la n d R y . C o . o n M a r . 1
1910 resu m ed possession o f Its lin os un d e r o rd in a n c e (see b e lo w ) o f D e c . 1909.
V 90 p . 6 2 6 . T h e lease t o M u n i c i p a l T r a c t io n C o . w a s ca n c e le d o f r e c o r d .
'F r a n c h is e O r d i n a n c e . — A n e w fra n ch ise o rd in a n c e ( V . 8 9 , p . 1667) w as
p assed in D e c . 1909 b y th e C it y C o u n c il, a n d a c c e p te d b y th o ra ilw a y c o . ,
b ased u p o n th o v a lu a tio n o f th o c o ’s p r o p e r t y as fix e d b y J u d g e T a y lo r . T h e
o rd in a n c e gran ts fra n ch ises t o o p e r a te o n e xistin g r o a d 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 t o p u rch a se th o p r o p o r t y . I n ca s o o f pu rch a se
th e c it y m u st p a y th o ca p ita l v a lu e o f said p r o p e r t y , as fix e d b y S e c. 16,
p lu s a t th o sam o tim e 10 % o f s o m u ch o f th e c a p ita l v a lu e as Is represen ted
b y ca p ita l s to c k , assu m in g a n d a grooin g t o p a y , in a d d itio n t h e r e t o , a ll th e
o b lig a tio n s , in d eb ted n ess a n d lia b ilitie s o f th e c o . , a n d a ll liens o th e r th an
b o n d e d d e b t u p o n Its p r o p e r t y th e n e x is tin g , w h ic h b o n d e d d e b t th e c it y
sh a ll p r o v id e fo r b y a ss u m p tio n , b y p a y m e n t o r b y ta k in g th e p r o p o r ty
s u b je c t th e r e to , as m a y b o p r o v id e d Dy la w a t th e t im e . O n a n d a fte r
J a n . 1 1918 th o c it y m a y d e sig n a te a p u rc h a se r o r licen see in p la c e o f
th e c it y o n 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 refe re n d u m e le c
tio n th o electors r a tifie d th e o rd in a n c e ( V . 8 9 , p . 1667; V . 9 0 . p . 167, 5 0 2 ).
O n J u ly 10 1911 C it y C o u n c il passed an o r d in a n c e a m e n d in g t h a t o f D e c .
1909 p r o v id in g , a m o n g o t h e r th in g s, fo r a d d itio n s to ca p ita l as req u ired an d
p a rtic u la r ly fo r th e im m e d ia te e x p e n d itu r e o f $ 2 ,5 0 0 ,0 0 0 fo r Im p t s ., extene.
a n d e q u ip t. T h e o r d in a n c e a lso p r o v id e d th a t th e r ig h t o f th e c it y to p r o
p o s e e x t e n ., b e tte r m ’ ts o r Im p ts . s h a ll te rm in a te w h e n e v e r t h e un exp lred
term o r a n y ren ew al t h e r e o f is less th a n 15 y e a r s , a n d a lso th a t d u rin g such
p eriod th e c o m p a n y m a y o p e r a te a t th e m a x im u m ra te o f fa ro a n d fix th e
s ch ed u les s u b je c t to th e p o lic e p o w e r o f th o c i t y . P r o v is io n Is a lso m a d e fo r
t h e use o f surplus earn in gs d u rin g th is 1 5 -y r. p e r io d , eith er In th e p a y m e n t o f
flo a tin g d e b t o r th e cr e a tio n o f a s . f . t o p u r c h a s e s ecu rities a n d re d u ce
c a p ita l v a lu e . A t a r eferen d u m e le ctio n o n N o v . 7 1 911. th e e le cto rs ra tifie d
th e o r d in a n c e a m en d in g th a t o f Dew . 1909.
H as fra n ch ise in L a k o w o o d , exp irin g M a y 1 1 934, w h ich p r o v id e s fo r a
3 -c e n t fa ro w ithin c it y lim its a n d a 5 -c o n t fa r e t o C le v e la n d , an d glvos th e
C it y o f L a k o w o o d t h o rig h t t o p u rch a se th e c o m p a n y ’s linos w ith in th e
c i t y , s u b je c t , h o w e v e r, t o th e o p tio n o f t h e c it y o r C le v e la n d t o purchase
th e entire p r o p e r ty o f th o c o m p a n y .
. . . . . .
.
. ..
V a l u a t i o n . — J u d g e T a y le r p la c e d th e v a lu e o f t h e p h y sica l p r o p e r t y o f th e
C le v e la n d E le c . R y . C o . a t $ 1 7 ,5 1 1 ,8 5 6 a n d th e fra n ch ise v a lu e a t $ 3 ,6 1 5 ,
8 4 4 ’ t o ta l. $ 21 ,1 2 7 ,7 0 0 ; a gre e d v a lu e o f p r o p e r t y p u rch a se d fr o 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 this Is a d d e d
$ 1 158 3 00 Interest o r ren ta l a c c r u e d , m a k in g th o e n tire “ ca p ita l v a lu e ”
$24 0 9 i 6 00. T h e 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 debtedn ess
as o f J a n . 1 1908, $ 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 t e d , le a vin g
$ 14 075 6 0 0 . T h e V alu ation is to b e in cre ase d fo r th o p u rp o s e o f fix in g th e
p r ic e a t w h ich th e c it y o r its n o m in e e m a y p u rc h a se th o p r o p e r t y b y the
a m o u n t o f fu tu re req u irem en ts . In clu din g c o s t o f n ow p a y -a s -y o u -e n to r cars
a n d 75 % o f th e c o s t o f rem o d e lin g o ld ca rs as p a y -a s -y o u -o n te r ca rs .
F a r e s . — F aro t o E a s t C le v e la n d is s a m e as c it y fa re .
F a ro t o oth e r
s u b u rb s 5 ce n ts , o r 11 tic k o ts fo r 50 c e n ts , a c c o r d in g t o c o n tr a c ts . T h e
c o m p a n y ’s schedules a n d ro u te s are s u b je c t t o th o su p e rvisio n o f th o
c it y a n d th e rates o f fa ro t o b o fix e d s o as to n e t a rotu rn o f interest as stated
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 ty a n d p e rm it o f t h e m a in te n an ce at
all tim es o f a s o-ca lled in terest fu n d o r a t least $ 5 0 0 ,0 0 0 . V . 8 9 . p . 1667.
W h e n this a m o u n t falls t o $ 30 0 ,0 0 0 this shall bo p rim a fa c ie e v id e n c e o f
th o n ec ess ity o f raising th e faro t o th o n e x t h igher r a te . A n experim en tal
fa re o f 3 c . . w ith l c . extra fo r transfers w it h o u t r o b a te , w as trie d t o 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 o b t a n d ca p ita l s to c k . O n Ju n e 1 1911 a u th o ritie s o rd o re d th o fare r e
d u c e d t o 3 c . ca sh fa re , l c . extra fo r tra n s fe r, b u t th e la tter t o bo reb a ted
w h on tak en u p . V . 9 2 , p . 1498; V . 9 3 , p . 1190. O n S e p t. 1 1914, h o w e ve r,
th o o n o -c o n t ch a r g e fo r transfers w ith n o re b a te o n surren der w a s re stored ,
as th e in terest fu n d h a d fa llen b e lo w th e $ 30 0 ,0 0 0 m a r k . V . 9 9 , p . 6 0 8 , 3 42 .
O n D e c . 15 1917 th e in terest fu n d h a v in g a ga in fa llon b e lo w $ 30 0 ,0 0 0 ,
a cash fa ro o f 4 cen ts an d 3 tick e ts fo r 10 ce n ts w ith a 1-cen t ch arge for
transfers w ith re b a to w as m a d e e ffe c t iv e . B eg in n in g D e c . 20 1917, th e
re b a tin g o f th o tra n sfer ch argo w as d isc o n tin u e d . V . 1 05, p . 2 455; V . 106,
p . 8 5 . I n A p r . 1918 a n ew s ch e d u le o f a 4 -c e n t ca sh fa ro , 7 tic k e ts fo r a
q u a rter a n d a 1 -ce n t ch arge fo r tra n sfers, w ith ro b a te , w a s p u t in to e ffe c t .
See V . 106,
1461. T h e increase w a s u p h e ld b y th o O h io Suprem e C o u r t.
o
f
V O n l5 e c . 14 1912 th e C o u n c il
C le v e la n d p assed an o rd in a n ce g iv in g th o
c o m p a n y th e righ t t o tra n sp o rt fre igh t w ith in th o c it y lim its in Interurban
cars a n d t o ch arge th e Interurban co m p a n ie s 2 5 c . p er c a r m ile .
O R G A N I Z A T I O N .— In 1908 ch a n g e d n a m e fro m th e C le v e la n d E l e c
tr ic R a ilw a y C o . (w h ich h a d in 1903 tak en o v e r th e C le v e la n d C it 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 n ew s to c k t o th o a m o u n t o f $ 3 5 ,
0 0 0 ,0 0 0 . T h e o ld s to 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 va lu a tio n
o f $ 55 p e r sh a re, o r S 1 2 .8 7 0 .0 0 0 (h a v in g fo r m e r ly b o o n $ 2 3 ,4 0 0 ,0 0 0 ) and
w a s p a id fo r in now s to c k issued b y C le v e la n d R a ilw a y a t p a r ($100
v a lu a tio n . T h e F ores t C it y R y . (w h ich h ad fir s t a b s o r b e d th e L o w F are
R y .) w as p u rch ased 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 shares o f th o
F o re s t C it y R y . b ein g a c c e p te d a t th e ir p a r ($100) v a lu e .
O n J a n . 2 1917 a b oa r d o f a rb itra to rs a u th o riz e d th e c o . t o en te r In to an
1 8 -y ea r c o n tr a c t w ith th e C le v e la n d E le c tr ic I llu m in a tin g C o . fo r the
p u rch a se o f p ow er , w h ic h w as a c c o r d in g ly d o n e .
In F e b . 1912 en tered in to an a gre 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 a n e lectric ra ilro a d b u ilt b y th a t c o m p a n y fr o m th o B r o a d
w a y lin o on M ile s A v e . t o th e N o r t h R a n d a ll ra ce -tra ck a n d fa ir g r o u n d s ,
344 m ile s . T h o ro a d w as p la c e d in o p e ra tio n J u ly 29 1912. T h o N o r th
R a n d a ll R y . gu aran tees th e c o . a ga in st lo ss . A fto r p a y m e n t o f a ll e x p s ., in c l.
in t ., th o surplus earnings aro t o b o e q u a lly d iv id e d b e tw e e n th o t w o c o s .
P u r c h a s e b y C i t y D e f e a t e d . — A t th o e le ctio n h old N o v . 2 1915 th o vo to rs
r e je c te d th e ord in a n c e a u th o riz in g th o c it y t o p u rch a se th e p r o p o r t y . Issue
an d sell b o n d s a n d pass a fra n ch ise as s e cu rity th e r e fo r . V . 101, p . 1552.
[Vol. 106
W a g e s . — O n D e c . 5 1917 th e c o m p a n y 's trainraon re je c te d an o ffe r o f a
5 -co n t an h o u r increase in w ages, o b je c tin g t o th o s tip u la tio n th a t a now
c o n tr a c t b o m a d e e x te n d in g t o M a y 1 1919. T h o c o m p a n y ’s w a g e c o n
tr a c t e xp ire d M a y 1 1918 a n d h a v in g fa ile d t o rea ch an a gre e m e n t w ith
its m en o n th e term s o f a n ew c o n tr a c t, th e c o n tr o v e r s y w as o n M a y 2 1918
s u b m it te d t o a F ed era l a rb itra tio n b o a r d . T h e p o in ts a t Issue are tho
d o m a n d s o f th e m en fo r a w a g e in crease o f 25 co n ts an h o u r t o m a k e their
p a y 60 c o n ts , a n d th o re q u e s t th a t th e le n g th o f runs b o m a d e fr o m clov en
t o th irte e n h o u rs, to g e th e r w ith p ro p o s e d ch an ges in w o r k in g c o n d itio n s
o n S u n d a y s a n d h o lid a y s a n d a t n ig h t.
M u n i c i p a l S u b w a y C o m m i s s i o n . — O n N o v . 19 1917 M a y o r D a v is a p
p o in te d a com m is s io n o f fiv e C le v e la n d m ou t o tak e ch a r g e o f th o b u ild in g
o f a m u n icip a l s u b w a y s y s te m . See V . 105, p . 2 27 1 . T h o o rd in a n c e p ro
v id in g fo r s u ch a ctio n w as h e ld le ga l b y th o O h io S u p rem o C o u r t in A p r il
1918. V . 106. p . 1688.
In M a r . 1918 w as a u th . b y th e O h io P . U . C o m m , t o issuo $ 2 ,7 0 0 ,0 0 0
n ew s to c k (n o t r e p o r te d In a m o u n t r e p o r te d o u t s ta n d in g ), o f w h ic h .>1,230,0 00 will bo used t o p a y flo a t in g d e b t a n d th e rem a in d er fo r im p ts .
V . 106,
p . 1 23 0 . S to c k h o ld e rs o f re c o rd M a r . 1 1918 w ere o ffr e d th o rig h t t o
s u b scr ib e fo r th e n e w s to c k p r o ra ta a t p a r.
V . 106, p . 6 07.
STOCK A N D BON DS—
D a te.
In te r es t.
O u ts ta n d in g
M a tu r ity.
S to c k ( $ 1 0 0 ) --------------------------------------Q -J
$ 2 7 ,0 6 6 ,4 0 0 A p r ’ 18.144
F irst m o r tg a g e $ 3 5 ,0 0 0 ,0 0 0 gt 1911 5 M -S
5 ,4 9 5 ,0 0 0 M c h 1 1931
( $ 1 , 0 0 0 ) _______________c * t f /I n t e r e s t In N o w Y o r k C it y o r C le v e la n d .
B o n d s . — O f th e firs t m o rtg a g e o f 1911, $ 1 5 ,0 0 0 ,0 0 0 a u th . m a y b e Issued for
8 5 % o f cash c o s t o f e xte n sio n s, b e tte rm e n ts , & c ., a n d re m a in 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 earn in gs fo r p re v io u s 12 m o s . sh all h a v e
eq u a le d a t least tw ic e t h e Int. c h a r g e . In clu din g b o n d s p ro p o s e d to b e iss u ed .
B o n d s aro re d . o n a n y in t . d a te a t 105 a n d In t. o n 90 d a y s ’ n o tic e . C it i
zen s’ S avin gs & T r u s t C o ., C le v e la n d , a n d B an kers T r u s t C o ., N . Y . .
tru stees.
V . 9 2 , p . 6 59.
D iv i d e n d s . — F irst d i v .— '1 1 4 % — u n d e r n ew fra n ch ise o rd in a n c e o f D e c .
1909 p a id A p r il 1910 a n d 1 > 4 % q u a r. sin ce t o a n d ln c l. A p r . 1918.
R E P O R T .— F o r ca le n d a r y e a r:
.
C a le n d a r
Y ea r—
G ross
E a r n in g s.
N et
E a rn in g s.
O th e r
In co m e.
I n t ., T a xes A
D iv id e n d .
6%
B a la n c e ,
S u r p lu s.
$ 12 2 ,2 1 2
1 91 7 ________ $ 1 0 ,1 7 6 ,1 2 6 $ 2,6 1 3 ,7 8 7 $ 8 0 ,38 9 $ 2 ,5 7 1 ,9 6 4
1 916__________ 9 ,5 2 1 .5 5 5
2 .8 6 1 ,1 2 3
75,751
2 ,4 9 2 ,2 3 9
4 4 4 ,6 $5
F ro m th o surpluses as a b o v e th ero w a s d e d u c to d $ 52 4 ,0 0 0 in 1917,
against $ 38 4 ,0 0 0 In 1916. fo r o b s o le te e q u ip m e n t w ritten o f f . lo a v in g a
d e fic it o f $ 40 1 ,7 8 5 fo r 1917 a n d a su rplu s o f $ 6 0 ,6 3 5 fo r 1916.
P assengers ca rried In 1917, re v e n u e , 2 9 0 ,5 9 6 ,7 5 8 ; transfer a n d o th e rs ,
1 0 7 ,78 2 ,1 3 6; in 1916. re v e n u e p assen gers, 2 7 1 ,9 4 4 ,9 7 7 ; tra n sfer a n d o ch ors,
1 0 3 ,4 3 7 ,7 7 1 .
R O A D .— O peratos 3 8 4 .3 6 3 m iles o f sin gle t r a c k , o f w h ich 3 5 8 .0 5 2
m iles are o w n e d . M o s t ly 8 0 , 9 5 , 100, 103 and 1 41 -lb . s ta n d a rd ra ils,
1 ,4 7 0 passenger cars; 7 o th e r re v e n u o ca rs a n d 195 s e rv ice ca rs.
O F F I C E R S .— P r e s ., J . J . S ta n le y ; V .- P ., R . A . H a rm an ; V .- P . & G e n .
M g r ., G e o . L . R a d c liffe S e c. & T r e a s ., H . J . D a v lo s; A s s t. T r e a s ., W m . J .
M e a d ; A u d ., T h o s . 1>. K ilfo y lo .— V . 106. p . 1230, 1461, 1577, 1688, 1796.
CLEVELAND SOUTHWESTERN & COLUMBUS RY.
O R G A N I Z A T I O N .— I n co r p o ra te d in O h io o n M a r c h 4 1907 an d Is a
c o n so lid a tio n o f th e C le v e la n d & S ou th w e ste rn 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 t io n C o . a n d th o O h io C e n tra l T r a c t io n C o .
F or
term s o f e x c h a n g e see V . 8 3 , p . 1 590. A ls o ow n s th o N o r w a lk G a s &
E le c tr ic C o .
In J a n . 1913 th e E ly ria G r a fto n & S ou th ern R y . re d u c e d Its ca p ita l s to c k
fro m $ 1 0 0 ,0 0 0 t o $ 1 ,0 0 0 . a n d th e N o r w a lk G a s & E le c . C o . fro m $ 12 5 ,0 0 0
t o $ 1 ,2 5 0 . In M a r c h 1913 th e C le v e la n d S o u th w . & C o l. ro d u ce d the
au th o riz e d a m o u n t o f c o m m o n s to c k fr o m $ 7 ,5 0 0 ,0 0 0 t o $ 4 ,2 3 6 ,0 0 0 .
In J a n . 1917 a c c e p te d a 2 5 -y e a r fra n ch ise fr o m th o C it y o f E ly r ia , p r o
v id in g fo r 2 0 -m ln u te c it y s e rv ice an d 6 tic k o ts fo r 2 5 c .
I n M a y 1915 th e O h io P . S . C o m m , a u th o riz e d th e c o m p a n y t o Issue
$11 9 ,8 7 5 1st c o n s o l. M . 5s a t 85 t o reim bu rse treasu ry fo r e x p e n d itu r e s in
1913 and 1914, a n d . p e n d in g sale t o h y p o th o c a to thorn a t 6 5 . B o n d s are
h o ld in tr o a s u r y . In A p r il 1917 th o O h io P . U . C o m m , a u th o riz e d th o c o m
p a n y t o issue $ 2 0 1 ,8 3 6 a d d itio n a l 1st C o n s o l. M . 2 0 -y o a r 5 % b o n d s . T n o s o
aro also in tre a su ry . In D e c . 1917 file d w ith th o O h io P . U . C o m m , .a
s e c o n d a p p lica tio n fo r a u th o r ity t o issuo $22 6 ,9 6 7 1st M . b o n d s a t n o t less
th an 85 fo r im p r o v e m e n ts . V . 105, p . 2 455.
In J u n o 1917 th o G u a r d ia n S a v . & T r u s t C o . p u rc h a se d $ 7 5 ,0 0 0 ca r tru st
6s Issued a ga in s t 8 now c a r s , m a tu r in g $ 1 0 ,0 0 0 e a ch y o a r th e re a fte r o n
M a y 15 a n d N o v . 15 u n til re tire d .
F a r e I n c r e a s e . — O n O c t. 13 1917 a n ew fa ro s ch e d u le w o n t Into e ffe c t
w h ich p ro v id e d fo r a straigh t ra to o f 244 co n ts a m llo , an in creaso o f 44 cen t
a m ile . V . 105. p . 1617.
STOCK A N D BONDS—
D a te.
In te r e s t.
O u ts ta n d in g .
M a tu r ity.
C o m m o n $ 7 ,5 0 0 ,0 0 0 ($ 1 0 0 )..........................................
$ 4 ,2 3 6 ,0 0 0 .......................
2 ,4 1 2 ,0 0 0 ................. ..
P r e f $ 2 ,5 0 0 ,0 0 0 5 % cu m ( $ 1 0 0 ) .................................
F irst gen eral c o n s o l m o r t g a g e ! 1907 5 A -O
9 1 5 ,0 0 0 A p r il _____
1 1927
$ 10 ,000,0 0 0 ( $ l,0 0 0 ) g c * & r c p t j In t . a t C le v e la n d T r . C o . , C lo v e ., T r u s te e .
C le v e la n d & E ly ria fir s t m o r t -f 1895 6 Q -F
2 0 0 .0 0 0 A u g . l 1920
g a g e o n 18 m iles ($ 5 0 0 )(In t e r e s t 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 l
C le v e la n d , T r u s te e ,
E ly ria & O be rlln rirst m ort-1 1897 6 F -A
100 ,00 0 A u g 1 1922
a go o n 9 m iles ($ 500) g o l d ! In terest a t C le v e la n d T r u s t C o . , T r u s te e ,
u b je c t t o c a l l .------------ c p t l
O le v * e r —ly r & O b erlln co n s
B
E
------'•
1899 5 g M -S
127 ,00 0 M c h . 1 1919
M $ 50 0 ,0 0 0 g ($ 1 ,0 0 0 ea ch ) In te re s t 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 t o c a ll-------------- c p t j
C le v e la n d E ly ria & W estern
1900
6 g F -A
1 ,0 7 3 ,0 0 0 A u g . 1 1920
firs t m o rtg a g e $ 1 ,5 0 0 ,0 0 0 I n t . a t C le v e . T r . C o ., C lo v e ., T r u s te e , o r a 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
($ 1 ,0 0 0 ) g o ld ______ c & r c p t
ca lle d a t 100.
E ly ria G r a fto n & Southerti
1902
5 g J-J
100 ,00 0 J a n . 1 1922
B y firs t m o rtg a g e gu a r In te re 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 ,
T r u s t e e , a n d E q u ita b le T r u s t C o . , N . Y .
a n te e d b y O E & W ($ 1 0 0 ,
C a n b e ca lle d a t p a r.
0 00 ($ 1 ,0 0 0 ) g o ld -------c * c p t
N o r w a lk G a s & E le c tr ic firs t 1900
6 A -O
110 .00 0 A p r il 1 1920
T r . C o . , C le v e la n d ,
m tg e , $ 11 0 ,0 0 0 ($ 5 0 0 ), g . i I n t . a t G u a r d ia n S .
T r u s te e , o r C h a se N a tio n a l B a n k , N . Y .
S u b jo c t t o c a ll-------------c p t l
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 r d 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 to 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
1 01,000 Ju n e 1 1919
c lo s e d ($ 1 ,0 0 0 ). g o l d c * n t f J ln t . N . H a v e n T r . G 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-f 1903
6 g M -S
2 9 9 ,0 0 0 M a r 1 1923
(d a te d
m o rtg a g e
c lo s e d ! I n t . a t C lo 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 an k o f C o m m e r c e . N . Y .
C a r t r u s ts _______________________1917
6 M -N
7 5 ,0 0 0
Soo te x t
B o n d s . — -O f th o $ 1 0 ,0 0 0 ,0 0 0 n ow b o n d s , $ 3 ,5 1 0 ,0 0 0 aro rosorv ed fo r p rior
lion s, $ 3 2 1 ,7 0 0 are in tro a su ry a n d $ 5 ,5 4 5 ,0 0 0 aro fo r o x to n s lo n s . I m p r o v e
m e n ts , & c . T h e y a re s u b j. t o c a ll a fto r 10 years a t 105 a n d a ccr u e d Int.
T h o C le v e la n d & S o u th w e ste rn b o n d s o f 1903 aro s u b je c t t o c a ll a t 105 and
in t. $ 1 ,6 0 0 ,0 0 0 o f th is issue aro re so rv o d t o retire c o r ta ln u n d e rly in g b o n d s .
T h o C le v e la n d & E ly r ia 1st M . 6s o f 1895 fell d u e M a y 1 1915, b u t w ere
e xton d ed t o A u g . 1 1920. C a lla b le a n y Int. d a to o n 30 d a y s ’ n o tic e , as
fo llo w s: In 1917. 10044: 1918. 10014: 1919. 10014: th e re a fte r a t par
in t.
O f th e C le v e la n d B e re a E ly ria & O b erlln 5s d a te d M a r c h 1 1 899, $ 30 0 ,0 0 0
rem ain in reserve fo r th o re tire m e n t a t o r b e fo r e m a tu r ity o f th o d ivisio n al
6a t o a like a m o u n t. O f th e $ 1 ,5 0 0 ,0 0 0 C le v e la n d E ly ria & W estern new
$ 42 7 ,0 0 0 are reserved t o rotire p rio r lion s. 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 e c a lle d u p o n 30 d a y s ’ n o t lc o a t 105 an d in t . T h o E ly ria
& O b e rlln 6s o f 1897 fo il d u e A u g . 1 1917 b u t w ore e x te n d e d t o A u g . 1 1 9 2 2 .
E A R N I N G S .— F o r ca le n d a r years:
—
1 9 1 7 ............................. ..$ 1 ,4 0 7 ,7 6 8
S 276.177
$ 34 0 ,9 9 5
d e f.$ 6 4 ,8 1 7
1 91 6 ................................... 1 ,3 3 7 ,1 5 6
4 6 9 ,8 0 3
3 3 2 ,2 8 4
su r. 137,519
t
S
t
S
t
B.
e
Ya
er
Gos Nt (fte Txs t., A.
r s. e a r ae).In c
1915............................. 1,242,100
377,056
330,370
Blac.
a ne
sur.46,686
R O A D .— O perates 209 m iles o f tra ck ( o f w h ich 177 m iles are o n p r iv a te
righ t o f w a y ) In a n d fr o m C le v e la n d t o B e re a , E ly r ia , O b e rlln , N o r w a lk ,
M e d in a , G r a ft o n , W e llin g to n . N o r th A m h e rst. L o r a in , C r o s to n , C h ip p e w a ,
L a k e , S e v ille , W o o s t e r , L in u d a lo , P u rlta s S prin gs, G a llo n , B u c y r u s , C re s t
lin e, M a n s fie ld . A s h la n d , N a n k in , P o lk , W o s t S alem , L o d i a n d L o R o y ,
6 0 , 70 a n d 1 00 -lb . ra ils. S ta n d a rd g a u g e . A ls o d o e s fre ig h t a n d express
b u sin e ss. O perates 66 p assenger a n d 35 o th e r cars; t o t a l, 101. C o m p a n y
ow n s P u rlta s Springs a n d S e cca lu m P a rk a n d reach es C h ip p e w a L a k o .
A ls o o w n s a n d o p era tes e le c tric-lig h tin g p la n t In N o r w a lk .
O F F I C E R S .— P re s.. F . E . M y e r s ; V .- P ., L . J . W o lf; S o c. & T r e a s .,
on.
J . O . W ils o n ; G en M g r .. E . F . S ch n eid er; A u d ito r , M . E . M c G r a w .
G en eral o ffic e , G a rfie ld B ld g ., C le v e la n d
-V . 105, p . 180, 3 8 9 , 1309,
1617, 2 455; V . 106, p . 6 0 "
ELECTRIC RAILWAYS
MAY, 1918. J
31
t h e B e lle v u e Illu m in a tin g & P o w e r C o . O n A u g . 1 1918 p u r c h a s e d 5 0 %
o f th e ca p ita l s t o c k o f th o O h io S ta te P o w e r C o .
(T h e o th e r 5 0 % is o w n e d
b y th o A m e r . G as & E le c . C o . o f N . Y . )
In 1907 m a d e c o n tr a c t t o 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 r ia a n d se ve ra l o th e r r o a d s . V .8 5 ,p . 1 6 4 6 .
In 1910 ch arter w as a m e n d e d s o as t o tra n s fo rm th e th en e xistin g 5 %
c u m . p r e 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 . 1st p r e f. a n d $ 2 .
0 0 0 .0 0 0 5 % n o n -c u m . 2d prer. s to c k ; V . 9 0 . p . 6 98 . A t th e s a m e tim e
b °Ra?e In crease!— L a te In 1917 w as a u th . b y t h e O h io P . U . C o m m , t o
a ccu m u la te d d iv id e n d s o n th e o ld p r e f. s to c k (p a rt or w h ich h ad been
in crease lig h tin g a n d p o w e r ra te s.
Issued later th a n th e rest) w ere a d ju s te d . V . 9 0 , p . 1170, 1296; V . 9 1 , p .7 9 0 .
STOCK A N D BONDS—
In J a n . 1915 th e a rticle s o f in co r p o r a tio n w ere a m e n d e d t o en a b le th e c o m
S to c k . $ 3 ,5 0 0 ,0 0 0 (p a r $ 1 0 0 ).............................. $ 2 ,5 0 0 ,0 0 0
p a n y t o sell a n d d is trib u te e le ctricity fo r lig h t, h e a t a n d o th e r p u rp o s es
1896
6 g A -0
'SOO.OOO O c t 1 1918 in ce rta in lo ca litie s.
F irst
m o rtg a g e ,
$ 5 0 0 ,0 0 0 .
~
.
, .
g o ld ($ 1,000 e a c h ) . c * . c p t In te re s t a t M o r t o n T r u s t C o . , N . Y . , or
T h e O h io U tilities C o m m , has fr o m tim e t o tim e a u th o riz e d th e c o m p a n y
C le v e la n d T r u s t C o . , O le v ., T ru s te e .
t o sell a d d itio n a l g e n . m tg e . b o n d s , a gg re ga tin g $ 4 2 8 ,0 0 0 , w h ic h h a v e
1898
5 A -O
1 ,1 3 1 ,0 0 0 O c t 1 1918 been Issued a n d are h e ld in tre a su ry . O n F e b . 10 1915 Increased a u th o riz e d
C o n s o l, m o r t . (c lo s e d
$ 1 ,
6 31 .00 0 ($ 1 , 000) . g o l d . c p t I n t . a t C itiz e n s ’ S a v . & T r . C o ., G le v e ., a m o u n t o f 1st p r o f, s t o c k fr o m $ 1 ,0 0 0 ,0 0 0 t o $ 1 ,5 0 0 ,0 0 0 .
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 .
STOCK A N D BONDS—
5 g M -N
9 2 6 ,0 0 0 M a y 1 1948
R e f an d ex ten s ion m tg e , $5,~ 1908
$ 4 ,5 0 0 ,0 0 0 .......................
000. 000. g o l d ( $ 1 . 000) c * c p t I n t . a t O le v o l T r u s t C o . , C le v e la n d , T r u s te e , C o m m o n . $ 4 ,5 0 0 ,0 0 0 (p a r $ 1 0 0 )------1 .0 0 0 . 000
See t e x t
Q-J
1 st p f $ l,5 0 0 ,0 0 0 ($ 1 0 0 )6 % c u m ------l
o r c o m p a n y ’s a g e n c y l n N e w Y o r k .
2 .0 0 0 . 000
N o d iv . y e t.
— $ 5 0 0 ,0 0 0 c o n s o ls are reserv ed t o re tire u n d e rly in g lie n s. T h e 2d p f $ 2 .0 0 0 .0 0 0 ($ 1 0 0 ) 5 % n - c .............
____
_______
1 .6 9 0 .0 0 0 Jan 1 1923
1903
5 g J-J
m tg e ., o rig in a lly fo r $ 2 ,0 0 0 ,0 0 0 , w as clo s o d a t $ 1 ,6 3 1 ,0 0 0 an d t h e b a la n c e F irst co n s m tg e , $ 4 ,0 0 0 ,0 0 0
($ 1 ,000) . g o ld ................ c * t f I n t . a t C itiz e n s ’ S a v . & T r . C o . , C le v e la n d .
c a n c e le d . O f th e refu n d in g an d e x te n s io n b o n d s , $ 1 ,6 3 1 ,0 0 0 are roserved
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 .
t o retire p r io r lien s, an d $ 2 ,4 1 5 ,0 0 0 are re se rv e d fo r fu t u r e e x ten sion s a n d
1903
5 g F -A
2 ,2 5 5 .0 0 0 F e b 1 1933
m tg e .
$ 7 ,0 0 0 ,0 0 0
Im p r ov em en ts, t o b e issued o n ly w h en n e t ea rn in g s fo r p re c e d in g 12 m o n th s G en eral
T r . C o . , C le v e la n d .
($ 1 , 000) . g o l d ------------- c * t f I n t . a t C itiz e n s ’ S a v .
h a v e b een n o t less th a n 2 5 % In excess o f In terest ch a r g o s o n o u ts ta n d in g
T r u s te e , o r c o m p a n y ’ s a g e n c y in N . Y .
b o n d s , in clu d in g th ose t o b e issu e d . $ 2 8 ,0 0 0 are In th e tre a su ry . S u b je c t
1897
6 g J-J
7 50 ,0 0 0 J u ly 1 1927
C le v e la n d 1 s t, g o ld
t o ca ll M a y 1 1938 o r o n a n y Interest d a te th e re a fte r a t p a r a n d In terest L o ra in
( $ 1 ,000) . $ 1 ,000,000-------t f In te re s t a t C itiz e n s ’ S a v . & T r u s t C o . ,
o n 30 d a y s ’ n o t ic e . T h e 1st m tg e . b o n d s o rig in a lly fe ll d u e A p r . 1 1916
C le v e la n d , o r c o m p a n y 's a g e n c y in N . Y .
b u t w ere e x ten d ed t o O c t . 1 1918.
. „
_ .
1900
5 g J-J
1 ,5 0 0,00 0 Jan
1 1920
T F
N 1st M $ 1 ,5 0 0 ,0 0 0 g
R E P O R T — F or years en d in g D o c . 31 ( e x c l.U n it e d L ig h t < P o w e r C o .)
&
_______ —
_
gu ar ($ 5 0 0 . $ 1 ,00.0)____c * tl I n t . a t U n io n T r u s t C o . , D e t r o it , T r u s te e .
C ar
tru st
'c e r t i f i c a t e s , / 1917 6 J -J
176 ,00 0 See te x t
—
$ 1 7 6 ,0 0 0 ____________________ \ G uardian S avin gs & T r u s t C o . , C l e v ., t r u s t .
1 9 1 7 ....................$ 5 0 9 ,8 5 6
$ 21 2 ,4 4 7
$ 8 ,0 0 0
$ 1 6 9 ,6 5 6
S50.791
1 9 1 6 ..............
$ 4 4 1 ,1 3 9 $ 21 8 ,1 5 1
$ 2 ,8 7 4
$ 1 6 4 ,6 9 5
$ 56 ,33 0
.— O f th e $ 4 ,0 0 0 ,0 0 0 firs t c o n s o ls , $ 2 ,2 5 0 ,0 0 0 a re re se rv e d t o retire
T h e resu lts o f th o U n ite d L ig h t & P o w e r C o . fo r 1917 w ere: G ro ss, p rio r lien s; $ 60 ,0 0 0 h a v e b een ca n c e le d ; $ 4 ,0 0 0 ,0 0 0 o f th e gen eral m o r tg a g e
$ 29 ,2 5 1 ; n e t, a fter ta x e s, $ 9 ,2 3 3 . I n 1916, gr o ss , $ 2 2 ,5 9 2 ; n e t, a fte r ta x e s, 5 p er ce n ts are reserv ed t o retire th e firs t c o n s o ls a n d $ 7 4 5 ,0 0 0 ( o f w h ich
$ 42 8,000 h a v e been ce r tifie d b y th e tru stee an d are in tre a su ry ) fo r e xten
$ 8 ,4 9 3 .
,
— F o r 3 m o s . e n d . M a r . 31:
sio n s a n d im p ts . a t 8 0 % o r c o s t . N e ith e r issue is s u b j. t o c a ll. A
3
—
f o r th o firs t c o n s o ls , c o m m e n c e d J a n . 1 190 9 , re tirin g $ 1 0 ,0 0 0 p er
1 9 1 8 _______ _______ $ 1 0 9 ,7 8 0
$ 33 ,1 7 6
$ 3 4 ,0 6 2
d e f.$ 8 8 ,6 1 5
a n n u m u n til 1914; fr o m 1920 t o 1922. in c l.i $ 3 0 ,0 0 0 b o n d s p e r a n n u m a re t o
1 9 1 7 ........ .............. ..
100 ,17 5
3 6 ,1 23
3 4 ,2 6 1
s u r.1 8 6 ,2 0 0
b e ca n c e le d . T h e L .
C . b o n d s are c a lla b le s in ce J u ly 1 1917 a t p a r an d
R O A D .— O w ns r o a d fr o m E u c lid . O h io , t o P a in e sv ille a n d P a lr p o r t, in t . T h e T . F . & N . b o n d s can b e ca lle d a t 110 a n d in t. o n a n y in t . d a te
2 4 .0 2 m iles ( “ M a in L i n e " ) , a n d uses C le v e la n d E le c tr ic R y . fr o m E u clid u p on 90 d a y s ' n o t ic e . A
o n th e T . F . & N . b o n d s o f $ 1 0 ,0 0 0
to P u b lic S qu are, C le v e la n d , 10 m iles; a lso o w n s " S h o r e L in e ,” e xte n d in g
per a nnu m co m m e n ce d in 1905 a n d ru ns t o 1909, in c l.; fr o m 1910 t o 1914.
fr o m W illo u g h b y t o C lev ela n d (S t. C la ir A v o . & 1 10 th S t . ) , 14.89 m ile s, $ 20 ,00 0 per a n n .; 1915 t o 1919. $ 3 0 ,0 0 0 p er a n n .: $ 27 9 ,0 0 0 b o n d s w ere held
an d uses th o C le v e la n d E le c tr ic R y . C o .’ s tra ck fr o m th a t p o in t t o the in sin k in g fu n d J a n . 1 1918. T h e c a r tr u s t c e r tifica te s o f 1917 m a tu r e
P u b lic S q u a r e, C lo v o la n d , 5 m ile s. T o t a l tr a c k o p o r a to d (in clu d in g 4 H
$ 1 7 ,6 0 0 e a ch J u ly 1.
m ilos o f d o u b l e ) , 40
m iles . W it h t h e C lo v e . P a ln e s v .
A sh ta b u la fo rm s
.— T h e T . F . & N . b o n d s a re a fir s t lien o n th e d iv is io n b e tw e e n
a co n tin u o u s line fr o m C le v e la n d t o A s h ta b u la . 46 m o t o r ca rs an d 8 o th e r T o le d o an d N o rw a lk : th o L .
C . b o n d s are a firs t lien o n th e r o a d b e tw e e n
ca rs. P o w e r -h o u s e is a t P a in e sv ille . C a r -h o u s e s a t W illo u g h b y , an d
C le v e la n d a n d L o ra in : an d th e 1st c o n s o l, b o n d s a firs t lien o n a ll o th er
lines a n d also a s e co n d m tg e . o n th e d iv isio n s n o t e d a b o v e .
N °O F F I c fE R S .— P r e s ., E . W . M o o r o ; V .- P ., F . H . G o f f ; V .- P . & G e n .
.— In itial d i v . o n 1st p r o f.. 1 * 4 % . p a id O c t . 1 1910; sam e
M g r . W . I I. D o u g la s ; T r e a s ., E . V . H a le ; S e c ., F re d S . B o r to n ; A s s t. S ec. a m o u n t q u a rte rly t o a n d in clu d in g A p r il 191 5 . J u ly 1915 d iv id e n d o m it t e d
a n d T r e a s ., J oh n P . W it t , C le v e la n d , O .— V . 102, p . 8 8 5 , 1811; V . 104,
( V . 1 01. p . 4 7 ). N o n e s in ce .
p . 1489; V . 106, p . 2010.
R E P O R T .— F o r y e a rs e n d in g D e c . 3 1 , e x c lu d in g L o r a in S tr e e t R R . .
(1)
C le v e la n d P a in e s v ille & A s h t a b u l a R R .— A tr o lle y r o a d . E n S a n d u sk y F re m o n t & S ou th ern R y . a n d lig h t a n d p o w e r c o m p a n ie s .
tirely o v e r p riv a te righ t o f w a y . e x c e p t th ro u gh s o m e o f th e v illa g e s , w h e re
—
exp ire In 1927.
. ,
, „ .
1 9 1 7 _______$ 1 ,4 1 9 ,7 5 0
$ 4 6 5 ,0 2 6
$ 33 4 ,5 7 7
$ 1 3 0 ,4 4 9
—
— J a n . 1 1917 a n d su b se q u e n t In terest Is in d e fa u lt.
1916
- - 1 ,2 5 2 ,2 3 4
4 4 8 ,6 3 4
$ 2 5 ,0 0 0
3 3 9 ,8 9 8
133,732
T h o fo llo w in g co m m itte e is ask in g d e p o sits o f b o n d s w ith th o C le v e la n d
1 9 1 5 ______ 1 ,0 9 7,04 2
3 77 ,98 2
2 5 ,0 0 0
3 36 ,4 4 4
6 6 ,5 3 8
T r u s t C o .: A . G . T a m o , H . D . M e s s ic k an d J . A . H o u s o , all o f C le v e la n d ;
.— F o r 2 m o s . en d in g F e b . 28:
S e c ., E . E . N e w m a n , ca re o f C le v e la n d T r u s t C o ., C le v e . V . 104, p . 2 5 6 . 1 9 1 8 ______
$ 28 2 ,7 1 7
$ 5 6 ,0 3 9
S72.423 d e f.$ 1 6 ,3 8 4
1 9 1 7 ______
2 47 ,7 4 8
64,6 33
6 8 ,7 5 8
d e f.4 ,1 2 5
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 In 1 9 0 2 .
P assengers ca rrie d in 1917, 6 ,2 4 1 ,3 5 0 ; in 1916, 5 ,7 6 8 ,8 9 9 .
STOCK A N D BONDS—
E a rn in g s fo r 1917 o f t h e P e o p le ’s L t . & P o w . C o . w ere: G r o s s , $ 1 7 ,9 9 1 ;
S to c k . $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )...........- ............................ —
$ 1 ,0 0 0 ,0 0 0 ............. .........
F irst m o rtg a g e $ 1 ,0 0 0 .0 0 0 1 1 9 0 2
5 g J-J
1 ,0 0 0 .0 0 0 J u ly 1 1922 n e t , a fte r ta x e s, $ 5 ,0 2 3 ; a n d o f th e B e lle v u e 111. & P o w . C o ., g r o s s , $ 3 0 ,9 3 9 ;
n e t , a fte r ta x e s, S 1 0 .2 6 1 .
g o ld ($ 1 ,0 0 0 )_______ c * . c p t / I n t . a t C le v e la n d T r u s t C o . . C le v e ., T r u s te e .
R O A D .— O perates 170 .13 m iles, e xte n d in g fr o m C le v e la n d t o T o le d o a n d
— N o s in k in g fu n d an d b o n d s c a n n o t b o c a llo d . S ee V . 7 5 , p . 5 49 .
S a n d u sk y , an d fro m S a n d u sk y t o N o r w a lk ; a lso c it y lines in S a n d u sk y ;
R E P O R T .— F o r yea rs en d in g D e c . 31:
s ta n d a rd g a u g e ; 70 t o 1 0 0 -lb . rails. T h r o u g h lin e fro m C le v . t o T o le d o w as
—
19 17
S154.772
$ 2 1 ,8 6 2
$190
$ 7 7 ,8 0 4
$55 ,75 2 o p e n e d fo r business a b o u t A u g . 26 1902. I n a d d itio n o w n s t h e S a n d u sk y
F re m o n t
S o u th e r n , 20 m iles, a n d th e L o ra in S treet R R . , 2 4 .7 7 m iles ,
i 9 1 6 ............... 158,649
5 3 ,4 6 4
2 19
7 8 ,0 4 7
24.3 64
19 15 ............... 148,868
5 1,5 59
171
7 6 .9 9 6
2 5 ,2 66 m ak in g a to ta l o f 2 1 6 .7 7 m iles. 90 p a ssen ger. 6 b a g g a g e , 21 w o r k a n d 47
fre ig h t ca rs . T o t a l , 1 6 3 .
R O A D .— O p erates 30 m iles tra ck b e tw e e n P a in e sv ille a n d A s h ta b u la .
O F F I C E R S .— P r e s ., E . W . M o o r e , C le v e la n d a n d N . Y . ; V .- P s ., F . H .
P u t in fu ll op era tion on J u ly 30 1904. 7 0 -lb . T an d gird e r rail u se d . Tracis
s ta n d a rd g a u g e . C o n n e c ts a t PatuesvlU e w ith th e C le v e la n d P a in e sv ille & G o f f a n d A . L e w e n th a l. C le v e la n d ; V .- P . a n d G e n . M g r .. F . W . C o e n ,
S a n d u sk y , O .; S ec. & T r e a s ., J n o . P . W i t t , C le v e la n d .— V . 102, p . 800
E astern R R . a n d a t A sh ta b u la w ith th e P e n n sy lv a n ia & O h io R y .
O F F I C E R S .— S am e as C lo v o la n d P a ln e sv . & E a s t, a b o v e .— V . 88 , 1431; V . 104, p . 1263. 1 895. 2118; V . 105, p . 2 1 8 4 , 2 543; V . 106, p . 2116.
p . 3 74; V . 9 2 , p . 322; V . 9 8 , p . 3 86; V . 104, p . 163, 256; V . 106, p . 2 01 0 .
(1 ) L o r a i n S t r e e t R a i l r o a d C o .— A tr o lle y r o a d .
C L E V E L A N D P A IN E S V IL L E & E A S T E R N R R .
O R G A N I Z A T I O N , & c .— I n c o r p o r a te d In O h io o n A p r il 25 1 80 5 . R o a d
c o m p le te d In J u ly 1908. Franchises e xp ire fr o m 1920 t o 1935. I n Ju n e
1906 a cq u ire d co n tr o l o f th e C le v . P a ln e s v . & A s h . R R . V .8 2 , p . 1322, 1379.
In 1913 pu rch a sed th e U n ite d L ig h t & P o w e r C o . (s t o c k , $ 1 0 0 ,0 0 0
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od.
CYnrr
aed
leaa
rs
he te s
n
Ernog. Erneg. Inoe, a drete. Sa lue
aG ss a Nts O r In Txs Brp c..
in
in
ctm n a
ula s
LMn a ins Gos Nt. a Txs
a s thrn g. r s. e ft. ae.
tetEs
o
%
In
t.
S
c
S
c
S
c
Bns
od
skg
inin
S rp rD fu d
u .o cf. n
S
c
S
c
Ln
ie
s k gfu d
inin n
^
S
c
Didns
iv e d
Ya
er
frae islt Cmitte.
nhus
c
Dfae o m e
Gos Nt( ft Tx O .In.
r s. e .a. a.) th c
In ret. S rp s.
te s u lu
LtetErn g o E tireSs m
a s a ins f n yte
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
o d.
Ya Gos
e rs r s.
Nt.
e
Oe In. In T x
t r c t.A a es. Dfic
h
e it.
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 tr o lle y r o a d .
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 18 1910 t o s u cce e d
the C lev ela u d & E astern d iv isio n ( V . 9 0 . p . 1613) o f t h e E astern O h io T r a c
tion C o . p e r p lan in V . 8 9 , p . 1 541, 1596.
O n M a y 3 1915 s to c k h o ld e rs v o t e d t o a m e n d th e ch artin' s o as t o p e rm it
co m p a n y t o engage In electric lig h t a n d p o w e r b u sin ess. V . 1 00 , p . 1509.
STO C K A N D BON DS—
C o m m o n s to c k ( $ 1 0 0 ) ....................................................
$ 38 1 ,6 0 0 .....................P r e f s t o c k , 5 % n -c ($ 10 0 )
................................
4 65 ,8 6 5 A p r . *18 1 %
F irs t m o r tg a g e , $ 1 ,0 0 0 ,0 0 0 .1 1910
5 g J -J
7 6 3 ,2 0 0 J u ly 1 1 9 3 2
g o ld ($ 1 ,0 0 0 )...............— c * ( I n t . a t G u ard ia n S a v ,
T r . C o .. O le v ., T ru s.
— R em a in in g b o n d s re se rv e d fo r e xte n s io n s , Sec. B o n d s s u b je c t
t o c a ll, a n y o r a ll, on a n y in t . d a y . a t 103 an d In t.; b e g a n t o d ra w In t. J a n .
11912.
V . 91, p . 336.
— T h e firs t d l v . o n th o p re fe rr e d s to c k — H % — w as p a id In
N o v . 1915. In 1916 a n d 1917, 3 % e a c h . In 1918, J a n . 1 % ; A p r il, 1 % .
E A R N I N G S .— F or c a l. y e a r 1917, gr o ss , $ 2 4 3 ,8 4 3 ; n e t (a fter ta x e s),
$ 72 ,24 1 ; ch arges, $ 38 ,16 0 ; d iv s ., $ 9 ,3 17 ; s u r ., $ 24 ,7 6 4 .
In 1916, gross,
$ 2 3 8 ,4 1 0 ; n o t, a fter taxes, $ 91 ,93 8 ; ch arge s, $ 54 ,46 5 ; s u r ., $ 37 ,47 3 .
R O A D .— O perates 4 0 m iles o f tra ck fr o m C le v e la n d t o C h a r d o u , B u r to n
and M ld d lo fie ld , O h io . S ta n d a rd g a u g o . 6 0 -lb . T rails.
O F F I C E R S .— P r e s .. I I . P . M c I n t o s h ; V .- P .. H o r a t io F o r d ; S e c. and
G e n . M g r ., R o b t . D . B e a t t y : T r e a s ., C . A . T a y lo r . O ffic e , 70S B e lm o n t
B ld g ., C lo v o la n d , O .— V . 100, p . 1509; V . 101, p . 1627; V . 102, p . 4 37;
V . 106, p . 9 2 4 .
_______
S
c
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 A u g . 3 1908 a n d is a c o n
so lid a tio n o f th e L o ra in S t. R a ilw a y a n d th e A v o n B e a c h & S o u th e rn R R .
E n tire s to c k a n d $ 5 0 0 ,0 0 0 co n s M 5s o w n e d b y th e L a k e S h ore E le c . R y .
O p erates o n p r iv a te rig h t o f-w a y e x c e p t th re e m iles in L o ra in a n d E ly r ia ,
o n w h ic h
run u n til 1919.
L a k e S h ore E le c . R y . a b o v e .
STO CK A N D BONDS—
S to c k $ 2 ,5 0 0 ,0 0 0 ($ 1 0 0 ).........................
------S 2 .0 0 0 ,0 0 0 ---------- - - - -
L o ra in S t
n o te s ($ 1 ,0 0 0 .1 1915
6 Q -J
o 2 0 0 ,0 0 0 J an 1 1920
S500 an d S100)
- ______I n t . a t C itiz e n s S a v . & T r . C o ., C le v ., T r u s .
- "
5 5 0 ,0 0 0 N o v 1 1949
L o ra in St 1st - - .... .............
M $ 75 0 ,0 0 0 1899 5 g M - N
go ld ($ 1 ,000) ............... - c * . t f I n t . a t G u a r a n ty T r u s t C o ., N . Y . . T r u s t e e .
1906
5 g J -J
See t e x t J u ly 1 1936
F irst c o n so l m tg e $ 2 ,0 0 0 ,0 0 0
g o ld gu ar $ 1 , 000) ------- c * . t f I n t . a t C itiz e n s ’ S a v . & T r u s t C o . , C le v e la n d ,
T r u s te e , o r A g e n c y in N e w Y o r k .
.— O f th e $ 2 ,0 0 0 ,0 0 0 c o n s , b o n d s , $ 7 5 0 ,0 0 0 a re reserv ed f o r p r io r
liens an d $ 7 5 0 ,0 0 0 fo r e x te n s io n s , & c . T h e y a re g u a r ., p r in . a n d i n t . , b y
en d o rse m e n t b y th e L a k e S h ore E le c tr ic R y . T h e n o te s are se cu re d b y
$ 2 0 0 ,0 0 0 L o ra in S t. R y . co n s o l m tg e . 5s (n o w a fir s t lien ) an d $ 1 0 0 ,0 0 0 fir s t
c o n s o l. 5s o f 1906. T h e y are g u a r ., p . & i. (e n d .) b y th e L a k e S h o re E le c .
R y . a n d are c a lla b le a t p a r a n d in t. o n a n y in t. d a to o n 15 d a y s ' n o t ic e .
C o n v . in to 1st M . 5s u p o n a b asis o f 9 2 o r u p o n a d ju s tm e n t o f d is c o u n t
an d Interest. T h e n o te s w ere issued t o retire $ 20 0 ,0 0 0 L ora in S t. R y . 6 %
b o n d s d u e J a n . 1 1915. T h e y fell d u e o rig in ally in 1918 b u t w ere e x te n d e d
fo r 2 years.
R E P O R T .— F o r ca le n d a r yea rs:
„ . „
,
.—
1 9 1 7 . . - ...... $ 2 1 8 ,7 1 6
$ 1 4 9 ,4 1 5
$ 69 ,30 0
$ 54 ,5 0 5
$ 1 4 ,7 9 5
1916 ............... 2 0 5 ,3 8 8
129,188
7 6 ,2 0 0
6 4 ,5 00
1 1,7 00
Passengers ca rr ie d in 1917, 3 ,7 1 1 ,3 6 8 ; in 1916, 3 ,5 6 3 ,8 2 9 .
R O A D .— O p erates 2 4 .7 7 m iles o f tra ck b e tw e e n E ly r ia . L o r a in a n d
B e a c h P a rk . S ta n d a rd g a u g e . 24 c a r s . V . 105. p . 2 1 8 4 , 2 5 4 3 .
NwF fra ceeSe
e ra c isiss e
nnh.—
h
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
R
R
R
y
S
c
Bns
od.
Didns
iv e d.
C L E V E L A N D & C H A G R IN F A L L S R Y . 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 o n F o b . 18 1910 t o tak e o v e r
th e O le v . & C h a g . D iv . o f th o E a s t. O h io T r a c ., s o ld F e b . 5 1910.
— In J u ly 1917 J u d g e P h illip s in th o C o m m o n P le a s C o u r t at
C lo v o la n d a p p o in te d S ec. & G e n . M g r . R o b e r t D . B e a ttie r e c e iv e r o n a p p li
ca tio n o f th o G u ard ia n S avin gs & T r u s t C o . , C le v e la n d , O ., m tg e . tru s te o .
T h o tru steo cla im e d th a t th e r o a d w as u n a b le t o p a y a Ju dgm on t o f $ 5 0 ,0 0 0
a w a rd ed t o a M r s . S tr o u p fo r d a m a g e s r e c e iv e d o n J u ly 19 1915 w h en her
a u t o m o b llo w a s str u ck b y o n e o f th o c o m p a n y 's ca rs .
In J a n . 1918 c a p ita l s t o c k w as re d u c e d fr o m $ 3 0 0 ,0 0 0 (p a r $ 100) t o
$ 3 0 ,0 0 0 (p a r $ 10 ) .
STO C K A N D BONDS—
S to c k , $ 3 0 ,0 0 0 ($ 1 0 )- - - - - - - - - . ......................... ..
$ 3 0 ,0 0 0
O le v & C li F alls ls t 'M $ 3 0 0 r -? 1910
6~g J-J~
2 5 i;0 0 0 Jan 1 1 9 3 0
0 00 g ($ 10 0 & $50 0 ) — c * \ I n t . a t G u ard ia n S a v . & T r . C o ., C le v .. T ru s.
Bonds.— SubJ. t o c a ll a n y o r a ll o n a n y in t . d a to a t 1 0 2 H a n d In t.; $ 48 ,1 0 0
a re in trea su ry .
E A R N I N G S . — F o r c a l. yea r 1917, gross, $ 85 ,4 1 1 ; n e t
(after taxes)
$16,48 4 ; ch arges, $15,11 4 ; s u rp lu s, $ 1 ,3 7 0 . In 1916, gro ss. $82 ,13 1 ; n e t,
a fte r ta x es. $ 21 ,4 3 0 ; ch arge s, $ 15 ,11 4 ; su rp lu s, $ 6 ,3 1 6 .
R O A D .— O p eratos 37 m ilos o f lin o b e tw e e n C le v e la n d a n d C h a g rin F a ll*.
S ta n d a rd g a u g e. 60 an d 7 0 -lb . T ra il.
O F F I C E R S .— R e c e iv e r , R o b t . D . B o a t t y ; P r e s ., H . P . M c I n t o s h ; V .- P .,
H o r a tio F o r d ; S ec. & T r e a s ., O . A . T a y lo r .— V . 9 9 , p . 1909; V . 105, p . 715
Rcivr.
ee e
Dte In ret. Ots nin. Mtu ,
a . te s u tad g a rity
R.
Y
L A K E S H O R E E L E C T R IC
O R G A N I Z A T I O N .— T h e L a k e S h o re E le c tr ic R y . w as I n co r p o ra te d on
S en t. 25 1901 un der law s o f O h io as a co n s o lid a tio n o f th e L o ra in & C le v e
land R y . . th e S an d u sk y
In te ru rba n I t y ., th e S a n d u sk y N o r w a lk & S o u th
ern R y . a n d th e T o le d o F re m o n t & N o r w a lk R R . V . 7 3 . p . 7 8 4 . A b o u t
h a lf th e ro a d is b u ilt o n p riv a to rig h t o f w a y . In N o v . 1917 th e c it y o f
L ora in gran ted a n ow fra n cln so t o th e c o . an d its s u b s id ia r y , th o L ora in
St R R . , w h ich w ill bo re je c te d , h o w e v e r , it is s ta te d , o n th o g r o u n d th a t
th e faro ra to o f six tick ets fo r 25 con ts L in s u fficie n t fo r p r o fit a b le o p e r a tio n .
s
C o n tro ls th e L ora in S treot R R . a n d th e S an d u sk y F r e m o n t & S ou th ern
R y ., w h ic h see b e lo w . A ls o co n tr o ls th e P e o p le ’s L ig h t
P o w e r C o . and
S
c
S
c
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od
Cl. Y G sln. Ep &Tx NtErn. In a . S rp s
a rs ros c x . a. e a s t.P id u lu.
(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 .
O R G A N I Z A T I O N .— I n co r p o ra te d in O h io in A p ril 1906. Is o p e r a te d
as p a rt o f m ain lin e o f L a k e S h o re E le c tr ic R y . b e tw e e n C le v e la n d an d
T o le d o . L a k e S h ore E le c . R y . ow n s e n tire s t o c k . P r iv a t e rig h t o f w a y .
STO CK A N D BONDS—
S to c k , $ 2 .0 0 0 ,0 0 0 _____________ — O w n ed b y t h e L a k e S h ore E le c t r ic R y . —
F irst m o r tg a g e , $ 2 ,0 0 0 ,0 0 0 , f 1906
5 g J-J
$ 6 4 5 ,0 0 0 J u ly 1 1936
g o ld ($ 1 ,0 0 0 ). g u a r___ c * t r { I n t . a t C itiz e n s S a v . & T r u s t C o ., C le v e ..
I T r u s te e , o r a t A g e n c y in N e w Y o r k .
.— A r e gu a r a n te e d , p r in . a n d in t ., b y e n d o rs e m e n t, b y t h e L a k e
S hore E le c . R y .; n o t s u b je c t t o c a ll. See V . 8 3 , p . 1099.
R E P O R T .— F o r ca le n d a r years:
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od
CYaa Inose EpnesadErneg.
aedr Go . xTse. n aNt s
le r— r s
n
c m ea s
x
in
Inids
tee
P r.t
a
1 9 1 7 . . ..........$ 98 ,61 5
$ 7 2 ,9 0 6
$ 2 5 ,7 0 9
$ 3 2 ,2 5 0
1 91 6 ..................
9 2 ,7 1 6
6 1 ,3 9 4
3 1 ,3 2 2
3 2 ,2 50
1 91 5 .................. 7 6 ,6 87
54.8 32
2 1 ,8 5 5
3 2 ,2 5 0
P assengers ca rrie d in 1917, 3 4 5 ,0 8 0 ; in 1916 , 3 37 ,6 0 2 .
R O A D .— O p erates a lin e fro m S a n d u sk y t o F r e m o n t, 20 m ile s .
— V . 8 3 . p . 9 7 . 1099.
Bla c.
aenit.
Dfice
$ 6 ,5 41
928
10,395
14 c a r s .
CLINTON, IOWA.
C L IN T O N S T R E E T R Y .
O R G A N I Z A T I O N .— I n c o r p . in I o w a F e b . 4 1891. U n d er Its ch a r te r
th e c o . is a u th . t o c o n d u c t a str e e t r a ilw a y , lig h t, p o w e r a n d h e a tin g b u s i
ness.
co v e r in g m a in str e e t o f th e c it y is p e rp e tu a l; o th ers
exp ire 1935 a n d 1 938.
F nh e
ra c is
32
ELECTRIC RAILWAYS
Dte In ret. Ots nin. Mtu
a . te s u tad g a rity
STO C K A N D BON DS—
S to c k $ 1 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ............................... ............
$ 59 0 ,6 0 0 Soo t e x t.
F irst m o r tg a g e $ 4 0 0 ,0 0 0 g o ld 1 1906 5 g A -O
4 0 0 ,0 0 0 M a r 31 1926
( $ 1 , 0 0 0 ) ............. .............._ _ c * ( I n t . a t Illin ois T r . & S a v . B k ., C h i c ., T ru stee
— C a lla b le a t 105 a n d in t. o n a n y in t. d a te o n 90 d a y s ’ n o tic e . A
su p p lem en ta l m o rtg a g e p ro v id e s th a t b ogin n in g A pril 1 1918 a fu n d o f 2 %
o f th e b o n d s o u tsta n d in g o r retired b y th is fu n d b e esta b lish ed t o b o u sed
fo r ren ew a ls, b e tte rm e n ts, & c ., o r fo r th e p u rch a se o f b on d s u p t o 105
an d In terest. V . 104, p . 8 62 .
— P a id 6 % d iv id e n d s fro m 1907 t o 'l 9 1 3 . in ch (o x c e p t 5 % in
1 9 1 2 ).
In 1913 th e s to ck h o ld e rs a d v a n ce d a su b sta n tia l su m fo r co n stru e
tlo n , & c ., a n d w a lv od d iv id e n d s w h ile th is su m w as b oin g p a id o u t o f e a rn
ln gs; $ 4 1 ,4 0 0 w as s o p a id in 1916.
E A R N I N G S .— F o r y e a r e n d in g D e c . 31 1 917, gro ss, $ 18 2 ,4 1 5 ; n et
a fte r ta x es, $ 7 0 ,2 3 6 . In 1916, g ro ss , $ 18 5 ,8 7 0 ; n e t , a fte r ta x es, $ 7 6 ,0 0 9
I n 1 9 1 5 ,, g ro ss , $ 17 8 ,8 1 0 ; n e t, $ 7 9 ,3 2 6 .
ROAD,
— A b o u t 16 m iles o f sin gle tra ck e q u iv a le n t a n d 32 sin gle tru c k
ca rs. C u rren t is p u rch a sed fro m th e C lin to n G a s & E le c tr ic C o.' In ter
u rb a n ca rs from D a v e n p o rt en ter t o co n tre o f c it y o v e r th e c o m p a n y
tra ck s u n d er t r a ffic a greem en t.
O F F I C E R S .— P r e s ., C . H . Y o u n g ; V .- P ., R . C . Lan gan ; S e c ., A . L
S ch u y ler; T r e a s ., O . C .C o a n ; G e n . M g r ., B orn a rd B oh n sen .
V . 1 0 4 ,p .8 6 2
Bns
od.
Didns
iv e d.
Se
e.
COFFEYVILLE, KAN.
THE UNION TRACTION CO.
Fac iss
r nh e
Dte In ret. Ots nin. Mtu
a . te s u tad g a rity
O R G A N I Z A T I O N .— In co r p o ra te d S ep t. 28 1906 in K a n sa s.
In D e c .
1916 was g ra n ted a p e rm it t o d o business in O k la h om a .
e x p ire
1 957. R o a d is on p r iv a te righ t o f w a y e x ce p t in C o ffe y v ille , In d o p e n d o n ce
C h e rry v a le a n d P a rson s.
STOCK A N D BON DS—
S to c k , $ 5 0 0 ,0 0 0 ..................................................................
$50 0 ,0 0 0 S ee te x t.
F irst m tg e , $ 1 ,0 0 0 ,0 0 0 , g o l d / 1907
5 J -J
966 .00 0 Jan 1 1937
($ 1 ,0 0 0 ), sin k in g f u n d . . t f l W a r r e n (P a .) T ru st C o ., T ru ste e .
S e co n d m o rtg a g e .......................t f 1911
6 A -O
100.000
O ct 1 1921
— 1st M . b o n d s are red . a n n . b y lo t a t 105 a n d in t ., b egin n in g J a n .
1912, th rou gh s. f .; $ 3 4 ,0 0 0 h a v e been retired . S . f. o f 1 0 % o f n et earn in gs
an n u ally b ega n in 1911. I n t . a t N a t. C it y B k ., N . Y . ; C o m m e rcia l N a t
B a n k , C h ic ., a n d T ra d e sm e n ’s N a t. B a n k , P h lla . S ee V . 88. p . 1 003.
— A d iv . o f 6 % was p a id d u rin g th e fisca l y o a r o n d . J u n e 30 ’ 13
E A R N I N G S .— F or yea r en d in g Ju n e 3 0 1916, gross, $ 27 7 ,2 0 9 : n e t, a fte r
ta x es, $ 9 9 ,2 4 3 ; in t. o n b o n d s. & c ., $ 5 9 ,06 9 ; su rp lu s, $ 4 0 ,17 4 .
R O A D .— O p erates 67 m iles o f r o a d , o f w h ich 9 H m . in C o ffe y v ille , 7
m iles in In d e p e n d e n c e a n d
m iles o f In teru rba n ro a d b etw eon C o f f e y
v ille , In d o p o n d o n c o , C h e rry v a le a n d P a rs o n s. 7 0 -lb . T ra ils. P u rch a ses
p o w e r fro m th e K a n sa s G a s & E le c . C o .
O F F I C E R S .— P re s ., D H . S lggin s, W a rre n , P a .; S e c ., H . A . S lggin s
T r e a s ., Sam Q . S m ith .— V . 9 7 , p . 1428; V . 99, p . 1750; V . 105, p . 2 544.
Bns
od.
Didns
iv e d.
5M
0
COLORADO SPRINGS, COL.
COLORADO SPRINGS & INTERURBAN RY.
&
O R G A N I Z A T I O N .— In co r p o ra te d in A u g . 1902 as a co n so lid a tio n o f th e
C o lo r a d o S prings R a p id T ra n sit R y . a n d th e C o lo r a d o S prings
S u b u rb a n
R y . T h e co n so lid a te d co m p a n y has Issued $ 1 ,5 0 0 ,0 0 0 s to c k , o f w h ich
$ 5 0 0 ,0 0 0 p re f. B o n d s ($ 1 ,0 0 0 , 5 . M . - S .. d u e S e p t. 1 932, C en tra l T r u s t C o ..
N . Y . , tru stee) a u th . a n d Issued, $ 1 ,5 0 0 ,0 0 0 .
R O A D .— O w ns 38 m iles o f tr a c k .
O F F I C E R S .— P re s ., D . H . R ic e ; V .- P ., W . L e n n o x ; S e c ., W m . L lo y d ;
T r e a s ., O . S . C h a m b e rlin .— V . 7 0 , p . 7 5 , 175, 3 28.
COLUMBIA, S. C.
COLUMBIA RAILW AY. OAS & ELECTRIC CO
O R G A N I Z A T I O N .— D o e s th e en tire street ra ilw a y , e lo ctric lig h tin g ,
p o w e r a n d gas busin ess In C o lu m b ia . S . O .— N a m e ch a u g e d fro m C o lu m b ia
E le c tr ic S treet I t y ., L ig h t & P o w e r t o th e a b o v o o n M a y 15 1911.
V. 92.
p . 1374. Is a co n so lid a tio n on J u ly 1 1905 o f th e C o lu m b ia E le c tr ic S t. R y . ,
L t . & P o w . C o . a n d th e C o lu m b ia W a ter P o w . C o . T h e firs t-m e n tio n e d
w as org a n ize d in S o . C a r o . J a n . 6 1892 a n d w as a c o n s o lid a tio n o f th e C o lu m
b ia E le c . & S u b u rb a n R y . C o . a n d th e C o n g a re o G a s & E le c tr ic C o . A c
q u ired th e C o lu m b ia
E au C la ire E le c tr ic R y .
O w ns all th e s to c k a n d
b o n d s o f th e C o lu m b ia G a s L ig h t C o ., w h ich is a lso lea sed . O perates u n d er
righ ts g ran ted b y S ta te o f S o . C a r o , (w h ich ow n s th e c it y s tr e e ts ), exp irin g
D o c . 16 1941. G a s
g ran ted b y S ta te a n d c it y fran ch ises co v e rin g
•11 d e p a rtm e n ts are w ith o u t lim it o f tim e.
In J u n e 1912 a cq u ire d P a rr S hoals P o w e r C o . (s to ck $ 2 ,0 0 0 ,0 0 0 c o m ., all
o w n e d , a n d $ 30 0 ,0 0 0 p r e f .) , w h ich o n M a y 30 1914 p la ce d in o p e ra tio n Its
n ew h y d ro -e le ctric s ta tio n (p resen t c a p a c ity 1 8,000 h .p .; u ltim a te ca p a c ity
3 0 .0 0 0 h .p .) on th e B ro a d R iv e r , n ea r A ls to n , S . G . . 2 7 H m iles n orth w est
o f C o lu m b ia , su p p ly in g th e req u irem en ts o f th o co n tr o llin g c o . ( V . 9 5 . d .
1122; V . 9 8 , p . 154, 1 8 4 4 .)
w
STOCK A N D BONDS—
C o m m o n , $ 2 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) - - ____
________
$ 2 ,0 0 0 ,0 0 0 J a n ’ 1 8 .1 4 %
P r e fy ^ S 1,0 0 0,00 0 , 6 % c u m . | ------Q -J
8 9 4 ,00 0 A p r ’ 1 8 ,
&
frac iss
nh e
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
IX
F irst m o r tg a g e , $ 7 ,5 0 0 ,0 0 0 , f 1911
5 J -J
2 .6 8 5 ,0 0 0 J u ly 1 1936
g o ld ($ l,0 O O )---------------c * t f ( I n t . a t c o . ’s o ffic e o r a t C h e m ical N a t . B k .,
|N. Y . C o lu m b ia T r u s t C o .. N . Y . , T r u s te e .
P a rr S hoals P p fd s tk $300,i
7%
3 0 0 ,0 0 0
P a rr S hoals P 1st m tg e , $ 3 , - / 1912
5 g A -O
3 ,0 0 0 ,0 0 0 A p r 1 1952
0 0 0 ,00 0 ($ 1 ,0 0 0 ), g o l d c + t f (C o lu m b ia T r u s t C o ., T r u s te e .
C o l C an al C o m tg , $ 2 0 0 ,0 0 0 t f ------6%
1 00,000
J a n . 1 1919
— O f th e o u ts ta n d in g firs t m tg e . b o n d s o f 1911, $ 6 0 ,00 0 are d e p o s i
te d t o g u a r . In t. on C an al C o . 6s . O f un issu ed b o n d s . $200 ,0 0 0 a re reserved
t o retire C a n a l C o . b o n d s a n d $ 4 ,4 9 7 ,0 0 0 fo r Im p r o v e m e n ts, a d d itio n s , a c
q u isitio n s . & c ., u n d er certa in re s trictio n s. B o n d s aro s u b je c t t o ca ll o n a n y
Int. d a te a t 105 and In t. S in ce J u ly 1 1912 an a m o u n t equal to 1 % o f b o n d s
o u t m u st b e exp en d ed fo r Irap ts., & c ., aga in st w h ich n o b o n d s m a y th e re
a fte r b e Issued, a n d sin ce D e c . 15 1915 a fu rth er 1 % fo r re tire m e n t o f
b o n d s . S ee V . 9 3 , p . 2 2 9 . P arr S hoals P o w e r b o n d s a ro g u a r a n te e d ,
p . & 1., b y e n d ., b y th o C o lu m b ia R y . . G a s & E le c . C o .
of
K o f 1 % sem i-a n n u a lly o f b on d s o u t fro m 1918 t o J an . 1 1952, in ch
T hey
are s u b j. t o ca ll a t 105 & Int. o n 60 d a y s ’ n o t ic e . I n t . p a y a b lo In N . Y .
— F irs t d iv . o n p r e f.— 3 % — p a id J u ly 1 1906; J an . 1907. 3 % .
N o n e t o J u ly 1911, w hen a ccru e d d tvs. w ere paid up In full: 1 1 4 % pa id
q u a r. s in co t o a n d in clu d in g A p ril 1918.
In itia l d iv . o n c o mmo n —
—
p a id O c t. 1917. I n 1 918, J a n .,
N o la ter in fo rm a tio n .
E A R N I N G S .— F o r ca le n d a r years:
Bns
od.
S k gfu d
inin n
Didns
iv e d.
Year —
Gross.
*Net.
Interest. P ref .D ies. Com.Divs. Surplus.
1 917.............. $ 1 ,1 7 6 ,6 5 8
$ 42 0 ,5 5 3 $ 15 9 ,0 2 5 $ 5 1 ,7 6 8 $ 5 ,0 0 0 $ 20 4 ,7 6 0
9 1 8 ,2 9 4
2& 4.580
1 53,644 4 9 ,8 9 6
..............
8 1,0 40
1 9 1 6 .............
* A fte r d e d u ctin g o p e ra tin g e xp e n se s, ta x e s, in t. o n P a rr S hoals b o n d s
a n d d iv s . o n P a rr S hoals p r e f. s to c k .
R O A D .— O p erates 2 6 .1 5 m iles o f tr a c k ; 50 c a r s . O w ns 2 p o w e r p lan ts
w ith a to ta l c a p a c ity o f a b o u t 1 8,0 00 h . p .
O F F I C E R S .— P res, a n d T r e a s .. E . W . R o b e r ts o n : 1st V . - P . , H e n r y P a r
s o n s ; S e c ., R . C h a r lto n W rig h t; G e n . M g r ., A . L . K e n y o n .— V . 101, p .1 3 7 0 ;
V . 102, p . 9 7 5 , 1060, 1625; V . 104, p . 1489; V . 106, p . 9 2 4 , 929.
COLUMBUS, GA.
COLUMBUS ELECTRIC 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 a in e o n F e b . 6 1903 a n d o w n s all
th e s to c k o f th e G a s L ig h t C o . o f C o lu m b u s ; th e entire c o m m o n s to c k
a n d $ 12 1 ,3 0 0 o f th e p re f. s to c k (o u t o f $ 35 0 ,0 0 0 ) o f th o C o lu m b u s P o w e r
C o ., an d all th e s to c k o f th o C o lu m b u s R R . C o .; also gu aran tees tn o bon d s
o f th o C o lu m b u s P o w e r C o . as t o p rin c ip a l, sin k in g fu n d a n d in torost.
T h e a b o v o com p a n ies d o th o entire e le ctric ra ilw a y a n d lig h tin g , gas and
p o w e r business o f C o lu m b u s a n d v ic in it y a n d th o a d jo in in g to w n s o f
P h o o n lx C it y a n d G ira rd , an d a w h olesa le p o w o r business in C o lu m b u s ,
N e w n a n , H ogansvU le, L a gra n ge. L a n e tto , T r im b le , G r a n tv ille , M o r e la n d
a n d W e s t P o in t .
p e rp e tu a l. T h e fre ig h t lines aro leased t o th e
S ea b oa rd A ir L in o R y . fo r 50 years fr o m O c t. 17 1901 at a ron tal o f $ 7,5 00
p e r a n n . $ 11 5 ,0 0 0 p ro f, s to c k is h old b y th o P u b lic S e rv ice In v e stm e n t C o .
In J u ly 1917 Issued $ 1 ,5 0 0 ,0 0 0 2 -y r . 6 % g o ld n o te s a n d $ 5 0 0 ,0 0 0 C o lu m b u s
P o w e r C o . 1st M . 5 s, t o retire $ 2 ,0 0 0 ,0 0 0 6 % c o u p , n o te s d u o J u ly 1 1917
F nh e
rac iss
[Vol. 106
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
J-J
STOCK A N D BONDS—
C o r a . $ 1 ,5 0 0 ,0 0 0 ( $ 100 ) ........ ................
...............
$ 1 ,5 0 0 ,0 0 0 _______
P ro f, 6 % c u m , $ 1 5 0 0 ,0 0 0 (5 1 0 0 )------1 ,2 0 0 ,0 0 0 J a n . ’ 1 8 .3 %
l8fc,
S
L
500. 000, g o ld l 1903
5 g A -O
7 5 8 ,0 0 0 A p r il 1 1 93 3
($1 0 0 0 ) ---------------------c * n t f 1I n t . a t O ld C o lo n y T r . C o . . B o s t o n . T r u s t e e .
2* ^ ^ noi ^ S V 500-000 S°ltl\ 1917
6 g J -J
1 .5 0 0 ,0 0 0 J u ly 1 1919
($ 1 0 0 , $ 500
$ 1 ,0 0 0 ) - - c * J I n t . a t C o m m o n w e a lth T r . C o ., B o s t .,T r u s t .
C o lu m b u s P o w i s t M $ 4 ,0 0 0 .-/ 1906
5 g A -O i
2 ,9 7 5 ,0 0 0 A p ril 1 1936
0 00 g o ld g u a r -------------c * t f ( I n t . a t C o m m o n w . T r . C o ., B o s to n , tru s te e .
T h e b o n d s o f th e C o lu m b u s E lo c tr ic C o . are s u b je c t t o ca ll as a
w h o le a t 105 & Int. $ 5 3 ,0 0 0 are In tre a su ry . A n ‘ ‘ im p r o v e m e n t f u n d ” o f
2 % p er a n n u m o f o u ts ta n d in g b o n d s c o m m e n c e d in 1905. T h o 2 -y e a r
n o te s are ca lla b le as a w h o le on a n y Int. d a y o n 30 d a y ’s n o tic e a t 100 a n d
to.
V . 105, p . 8 1 7 . T h o C o lu m b u s P o w e r C o . b o n d s a re ca lla b le as a
w h o le (o r in p a rt fo r sin k in g fu n d ) a t 110 a n d in t. o n a n y Int. d a y .
A
o f 1 % o f b o n d s o u t b ega n A p ril 1 1912. $ 15 0 ,0 0 0 p u rch a sed
fo r sin k in g fu n d a n d c a n c e le d . $ 8 7 5 ,0 0 0 h o ld in tr o a s u r y . B o n d s aro
g u a r ., p . & L , a n d s . f . , b y C o lu m b u s E le c tr ic C o .
— F irst d iv . o n p rer. s t o c k , 3 % . w as p a id J a n . 1907: 3 % has
been p a id s e m i-a n n u ally s in ce to a n d In clu din g J a n . 1918.
P R O P E R T Y .— 2 5 .9 m iles o f e q u iv a le n t sin g le tr a c k , o f w h ic h 5 m llos
leased t o S e ab o a rd A ir L in o fo r 50 y e a rs . 4 4 ca rs; 2 ste a m lo c o m o tiv e s
(leased t o S. A . L . R y . ) .
S ta n d a rd g a u g e . C o n t r o ls h y d r o -e le c tr ic p lan ts
w ith a c a p a c it y o f 2 1,6 50 k . w ., a n d a stea m p la n t o f 1 ,5 0 0 k . w . c a p a c it y .
E A R N I N G S .— F o r 12 m o n th s e n d in g D o .'. 3 1 ;
31
ear—
1 91 7 -----------$ 1,0 9 6 ,0 6 6
$ 67 5 ,6 0 5
$ 30 8 ,7 7 6
$ 5 0 ,32 7
$ 31 6 ,5 0 3
1 9 1 6 ---------8 8 1 ,3 5 4
530,121
3 0 3 ,4 1 5
4 0 ,1 6 0
186,546
O F F I C E R S .— P re s ., H a rry H . H u n t; S o c .. A lv a h I t . T o d d ; T r e a s .,
H e n r y B . S aw yor; G e n . M g r s ., S to n o & W e b s te r M g t . A s s n ., B o s t o n .—
V . 104, p . 1591; V . 105, p . 817; V . 106, p . 3 95.
&
Bns —
od.—
s k gfu d
inin n
Didns
iv e d.
Dc
.„Ye.
rs
e s
e
k
Ernog. Nt,efte Carst Imt.ind& Sa lue
aG ss Txa. r Inrgs Sp Fs Brpns.
in
a
htee. in g . ulac.
COLUMBUS, IND.
INDIANAPOLIS COLUA1BUS & SOUTHERN T R AC TIO N
Lae
e s.
CO.
— In D e c . 1912 w as leased fo r 999 y e a rs to th e In te r -S ta te P u b lic
S e rv ice C o ., a su b sid ia r y o f t h e M id d le W e s t U tilitie s C o . , a t a ro n ta l o f 5 %
o n th e ca p ita l s t o c k , o r $ 9 2 ,00 0 a y e a r a b o v e all ta x e s. V . 9 5 , p . 6 8 0 . See
I n te r -S ta te P u b lic S e rv ice C o . in V . 9 5 . p . 1745; V . 9 6 , p . 1157.
O R G A N I Z A T I O N .— F o r m e r ly th e In d ia n a p o lis G r e e n w o o d & F ra n k lin
R R . , w h ich c o m p a n y w a s in co r p o ra te d in In d ia n a In 1895. N a m e ch a n g o d
as a b o v e In J a n . 1903. In S e p t . 1912 In creased its a u t h . s to c k t o $ 1 ,8 4 0 ,0 0 0 .
S T O C K A N D B O N D S .—
S t o c k , $ 1 ,8 4 0 .0 0 0 ......................... .... ..................... .........
$ 1 ,8 4 0 ,0 0 0
Soo te x t
FlrLfc m o r tg a g e , $ 1 ,0 0 0 ,0 0 0 / 1903
5 g F -A
9 3 2 ,0 0 0 F e b 1 1 9 2 3
g o ld ($ 1 ,0 0 6 )---------------c * t f l i n t . a t C o m m e r c ia l T r u s t C o ., P h ila ., T r u s t .
— C a n n o t b e c a lle d . $ 6 8 ,0 0 0 a re reserv ed fo r o x t e n . a n d lm p ts .
a t n o t ex c e e d in g $ 1 5 ,0 0 0 per m ile . S ee V . 7 6 . p . 6 54: V . 8 2 , p . 1212.
R O A D .— O p erates 6 2 .3 8 m iles o f tra ck b otw oon In d ia n a p o lis , F ra n k lin
a n d C o lu m b u s a n d S e y m o u r, o f w h ich 3 .8 6 m iles b e lo n g to I n d . T r a c . & T e r .
C o . S ta n d a rd g a u g e . 6 0 -lb . T ra il. M o s t ly p r iv a te r ig h t -o f-w a y .
It
co n n e cts w ith In d ia n a p o lis & L o u is v llio E lo c . I t y ., th u s fo rm in g a th ro u gh
Hue fro m I n d ia n a p o lis to L o u is v ille .
O F F I C E R S .— P re s .. W m . G . Irw in ; V . - P . . L . I . S w e e n e y : S e c . & T r e a s .
H u g h M ille r , all o f C o lu m b u s . I n d .— V . 86 , p . 4 2 1 ; V . 9 5 . p . 6 80 .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
o d.
COLUMBUS, OHIO.
COLUMBUS RAILW AY. P O W E R & L IG H T CO.
O R G A N I Z A T I O N .— I n c o r p . in O h io N o v . 1913 t o s u c c o e d th o C o lu m
bus T r a c tio n C o . (In co r p . D e c . 26 1906 as su cce sso r t o th o C e n tra l M a r k e t
S t. R y . , s o ld u n d er c r e d it o r ’s bill in F o b . 1906, s u b je c t t o th o $ 5 0 0 ,0 0 0
b o n d s) a n d t o o k o v e r th e C o lu m b u s R y . C o . a n d the C o lu m b u s E d is o n C o .
as p er p lan in V . 9 6 , p . 1839. T h o leases b e tw e e n th ose t w o c o s . an d th e
C o lu m b u s R y . & L t . C o . w ere th o n ca n cotod . T h o C o lu m b u s L t ., H t. & P .
C o . w as a cq u ire d in J an . 1915. See “ E le c . R y . S e c t io n " fo r J a n . 1915.
O w ns a n d o p ora tos th e c it y stre e t ra ilw a y s y s te m o f C o lu m b u s a n d s u b
u rba n lines t o M a r b le C lif f a n d W o sto rv ille , an d th e co m m e rcia l e lo ctric ligh t
a n d p o w o r syste m s o f th o c i t y a n d v ic in ity .
fo r 2 0 .8 4 m iles
o f ra ilw a y aro p e rp e tu a l; o th e rs e xp ire in 1 919, 1926 a n d 1942. T h o fra n
ch ises p r o v id e fo r 8 tic k e ts fo r 25 ce n ts a n d u n iversal tra n s fe rs. T w o o f
th e ligh t an d p o w e r fra n ch ises are p e rp e tu a l; o th e rs exp lro in 1926 a n d 1928.
In J u n o 1917 a n o w fra n ch ise fo r 25 y e a rs w a s g r a n te d o n th o W e s te r
ville lin e , p r o v id in g fo r a z o n e s y s te m w ith a s lid in g s ca lo o f fa ro s ra n g in g
fr o m 2 H t o 6c . p e r z o n o . T h o c o m p a n y is t o be a llo w e d t o earn 6 % on
Its th on ex is tin g in v e s tm e n t (fix e d a t $ 3 5 0 ,0 0 0 ), an d 8 % o n fu tu r o c a p ita l
In v e ste d . T h o p u b lic m a y p u rc h a so th o W o s to r v illo lino a t an in croase o f
10 % o v o r th e a c tu a l v a lu o a t t im e o f p u rch a so .
Valuation.— O n M a r . 18 1918 th o c o . s u b m itte d th o results o f its a p p raisal
(o rd e re d in J u n o 1915 in c o n n e c tio n w ith ligh t a n d p o w o r rates) t o th o
O h io P . U . C o m m ., p la c in g a v a lu a tio n o f $ 7 ,1 0 5 ,8 0 9 on th o p ro p e rties
u sed in electrica l o p e r a tio n (e x c e p t in ra ilw a y a n d d is tr ic t h e a tin g ).
V.
106, p . 1344.
Fares.— O n F e b . 25 1918 th e C it y C o u n c il o f C o lu m b u s , O ., tu rn ed
d o w n th o c o . ’s a p p lic a tio n fo r a n Increase in tic k e t faros t o 6 tic k e ts for
25 ce n ts . T h e y a lso ig n o re d tho c o . ’s o ffe r t o s u rren d er its p re s e n t fr a n
ch ise in e x c h a n g e fo r a n ow fra n ch ise g iv in g t o th o c it y co n tr o l o f th o s e r v ic o ,
exte n sio n s, im p ts . a n d b o tt e r m ’ ts, o n a slid in g s ca lo o f fa ro t h a t w o u ld p a y
th o c o s t o f s e r v ic o , s u ch c o s t t o in clu d e a ro a s o n a b lo ro tu rn o n th o in v o s tm o n t.—
106, p . 1036.
In J a n . 1916 $ 3 ,5 0 0 ,0 0 0 1st re f. & e x t. s in k in g fu n d b o n d s w o re s o ld t o
E . W . C la rk & C o . , P h lla ., an d K is se l, K ln n lcu tt & C o . , N . Y . , t o ta k e up
$ 1 ,2 0 0 ,0 0 0 n o te s a n d $ 1 ,4 3 9 ,0 0 0 u n d e rly in g lions o n th o p o w o r a u d lig h t
p ro p e rtie s, a n d p r o v id o fo r Im p r o v e m e n ts, ex te n s io n s , & c .
V . 102. p . 5 21.
In M a r c h 1917 th o O h io P . U . C o m m . a u th . th o c o . t o issuo $ 50 8 ,2 0 0
Series A p r o f, s to c k a t p a r a n d $ 1 ,8 4 6 ,0 0 0 o x t. & r e f. M . 5 % b o n d s t o re im
burse th o tro a su ry fo r im p ts . m a d e in 1916 a n d fo r now exten sion s (p r in
cip a lly th o co n s tru c tio n o f a now ce n tral ge n e ra tin g s ta t io n , c o s t in g a o p ro x itn a te ly $ 1 , 000,000, o f w h ic h th o first s e c tio n w as p u t in t o o p e ra tio n
a b o u t M a r . 1 1 91 8 ).
V . 101, p. 9 51; V . 105, p . 6 06 .
In N o v . 1917
the O h io P . U . C o m m , gran ted a u th . t o issuo $ 2 7 6 ,0 0 0 a d d itio n a l p re f.
s to c k a n d $ 1 ,0 0 0 ,0 0 0 a d d itio n a l 5 % m tg e . b o n d s fo r e x ts . a n d im p ts .
In
D e c . 1917 $75 0 ,0 0 0 o f theso w ero c e r tifie d b y th e tru s te e fo r e x p en d itu res
m ad e , $ 52 5 ,0 0 0 b ein g p le d ge d fo r th o issuo o f th o rem a in in g $ 4 2 0 ,0 0 0 6 %
n o te s , d u o A u g . 1 1918.
V . 105, p . 2271.
’
In F o b . 1918 p u rch a se d a co a l m in o in W e s t V irginia a n d o th o r c o a l p r o p
erties in o r d o r t o insure its fu tu r o fuel s u p p ly .
O n D e c . 16 1917 p u t in to e ffe c t , w ith th o a p p r o v a l o f tho C it y C o u u c il,
a s k ip -s t o p s y s te m t o s a v e fu e l.
S T O C K A N D liO N D S —
C o m m o n , $ 6 .0 8 0 ,0 0 0 .............................................. ..
$ 6 ,0 4 1 ,2 3 0 N o v ’ 17, l h
P rior p r e f s to c k $ 3 .1 4 5 .0 0 0 ......................
4%
13,000 A p r ’ 18, 1%
“ A " p ror, $ 1 ,7 2 0 ,0 0 0 ..............................................
1 ,6 3 4 ,9 1 7 A p r ’ 18.
‘ B ” p r o f. $ 4 ,2 0 0 ,0 0 0 .............................
...............
4 .1 8 8 ,1 2 5 F e b ’ 1 8 .1 H
1st r e f & o xt sink fd M $ 2 5 .- f 1915
5
A -O
4.200,00(1 O c t 1 1940
0 0 0 ,0 0 0 g ($ 1 ,0 0 0 )___ c * t f i l n t . a t E . W . C la rk & C o ., P h lla ., o r o f f i c e o f
I c o . a t C o lu m b u s . G ira rd T r u s t C o .,
[ P h ila ., T r u s to o .
C e n t M a r 1st m tg e . $ 500,000,1 1902
5 g J-J
3 4 8 ,0 0 0 J an 1 1922
g o ld ($ 1 ,0 0 0 )-----------c * . n t f / I n t e r o s t a t N . Y . T r u s t C o . , N . Y . , T r u s t e e .
C o l S t R y 1st, $ 3 ,0 0 0 ,0 0 0 , f 1892
5 g J -J
3 ,0 0 0 .0 0 0 J u ly 1 1932
g o ld ( $ 1 , 0 0 0 ) ----------- c * _ n t f I n t .a t c o .’s o f f l c e & E . W . C la rk & C o ., P h lla .
(C o lu r a b la -K n lc k . T r u s t C o ., N . Y . , T r u s t e e .
C ro ss to w n 1st m tg e , g o l d ,f 1893
5 g J -D
5 7 2 ,0 0 0 J u n o 1 1933
($ 1 ,0 0 0 ) $ 5 7 2 ,0 0 0 - _ c * - n t f jC o lu m b ia -IC n lck . T r u s t C o ., N . Y . , T r u s te e .
C o l R y 1st c o n s o l m tg e . $ 7 ,-f 1899
4 Q -J
3 .1 3 2 .0 0 0 O c t 1 1939
0 0 0 .0 0 0 ($ 1 ,0 0 0 ), g . c * . n t f ( In te re st a t U n io n S a v in gs B a n k & T r u s t C o .
B o n d s a re re d e e m a b le s in ce | o f C in cin n a ti, T r u s t o o , a t E . W . C la rk &
O c t l 1914 a t 105 a n d In t.I
C o . . P h ila d e lp h ia , o r a t c o m p a n y 's o f f ic e .
S ecu red n o te s ( $ 1 ,0 0 0 ) - . c n t t ’ l 1917 6 F -A
1 .0 0 0 ,0 0 0 A u g 1 1918
J C o m n i 'l T r u s t C o ., P h ila ., tru s to o .
— T h e p rio r p r e f. 4 % s to c k Is Issuable o n ly In e x c h a n g e fo r th e
$ 3 ,1 4 5 ,0 0 0 C o lu m b u s R y . C o . 4 % b o n d s and Is o xch a n g e ab lo a n y tim e
p rio r t o O c t . 1 1924 Into 1st re f. a n d e x t. sin k . fd . 5 % b o n d s o n th o basis
o f $850 o f b o n d s fo r $ 1,0 00 o f s to c k . A s o f J a n . 1 1918 $ 1 3 ,0 0 0 s to c k h a d
boon Issued in e xch a n g e fo r C o lu m b u s R y . b o n d s.
— O f th o 1st re f. < e x t. s in k in g fu n d b o n d s , $ 6 ,6 5 9 ,0 0 0 aro rosorv od
&
fo r u n d e rly in g liens, 8 1 ,4 7 5 ,0 0 0 a ro In troasu ry a n d th o b a l. is rosorv od fo r
Im p r o v e m e n ts, e xte n sio n s, & c ., a t 8 5 % o f ca sh c o s t o r fa ir v a lu a t io n , w h ic h
e v e r Is loss, u n d e r co n s e r v a tiv e re s trictio n s. C a lla b lo a t 105 a n d Int. on
a n y in t. d a te o n 60 d a y s ’ n o t ic e . P e n n . S ta to ta x ro fu n d o d o n 00 d a y s '
o f 1 % p e r a n n u m o f b o n d s o u ts ta n d in g bogln s
n o tic e .
F nh e
rac iss
V
.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
lk
a
\
S c.
tok
Bns
od.
S k g fu d
inin n
Ma y , 1918. J
S k gfu d
inin n
O c t . 1 1020. T h o C en tra l M a r k e t b o n d s arfe r e d e e m a b le a t a n y t im e a t
110 a n d ln t. on 60 d a y s ’ n o tic e .
o f 5 % o f gross e a rn in gs
began In 1007. $ 15 2 ,0 0 0 hold In s in k in g fu n d . T h o C ro ss to w n S t. R y .
m tg e . was fo r $ 2 ,0 0 0 ,0 0 0 b u t w as clo s e d a t S 57 2 .0 0 0. I n t . p a y a b le at
C o lu m b u s an d E . W . C la rk & C o ., P h lla . C o lu m b u s R y . C o . m tg e . has
been c lo s e d . $ 3 ,4 2 8 ,0 0 0 b on d s w ere Issued th e re u n d e r, o f w h ich $ 2 8 3 ,0 0 0
w ero ca n c e le d . $ 1 3 ,00 0 h ad b e e n e x c h a n g e d fo r 4 % p r io r p r o f, s to c k t o
J a n . 1 1918. A re ca lla b le a t 105 a n d ln t . o n a n y Interest d a te . T h e 1-yea r
n otes are secu red b y Sl,25O,OO0 1 st r e f. & o x t. sin k in g fu n d m tg e . b o n d s .
In teres t a t K . W . C la rk & C o ., P h ila .
* .— A n Initial d l v . o f 1 H % w as p a id o n th e S eries “ A ” p r e f. s to c k
A pril 1 1914: sam e r a t e q u a r .s in c e t o a n d ln cl. A p r . 1918. O n Series " B "
Initial d lv . o f
p a id In M a y 1914 a n d sam e rate q u a r . sin ce t o a n d
ln c l. F e b . 1918.
O n p rio r p r e f. in itial d l v . o f 1 % w as p a id in O c t . 1915:
sam e rate q u a r. s in ce t o a n d ln c l. A p r . 1 918. O n c o m m o n . Initial d lv . o f
w as p a id in M a y 1914 a n d s am e ra te q u a r. t o a n d ln cl. N o v . 1917.
F e b . 1918 d lv . p a ss ed (V . 106, p . 4 9 8 ).
R E P O R T .— F o r yea rs en d in g D e c . 31:
1917.
1918.
1915.
1914.
R ev en u e pa ssen gers____ 6 7 ,4 9 8 ,7 1 5 6 0 ,6 5 0 ,4 1 4 6 1 ,0 6 2 ,0 6 6 6 2 ,8 3 7 ,9 2 5
T ra n s fe r paasongers____ 1 5 ,7 3 7 ,4 3 2
1 5,9 24 ,6 4 3
1 5,1 54 .4 6 0
1 6,1 11 ,6 3 4
Didn
iv e d
\V
i%
1)4
%
T o t a l p a ssen gers........... 8 3 ,2 3 6 ,1 4 7
8 2 ,5 7 5 .0 5 7
K ilo w a tt h ou rs s o ld ____ 5 6 ,3 9 1 ,8 9 3
4 0 ,7 7 2 ,2 3 9
N u m b o r o f cu s to m e rs ___
2 7 ,9 4 2
25,081
R a ilw a y o p e r . r e v o n u o s .l 4 ,0 2 4 ,1 8 6 / $ 2,2 4 8 ,9 1 8
P o w e r , lig h t, h e a t, A c _ _ /
1,2 8 8,48 2
7 6,2 1 6 ,5 2 6
3 1,0 2 0 ,8 5 2
2 1,2 57
$ 2 ,0 3 9 ,3 8 3
1 ,0 7 3,79 2
7 8 ,9 4 9 ,5 5 9
2 7 ,4 71 ,9 6 1
18,603
* 2 ,0 8 6 ,2 6 9
980 ,03 0
T o t a l gross r e v e n u e s . $ 4 ,0 2 4 ,1 8 6
N e t , a fter ta x o s __________$ 1 ,0 8 0 ,2 5 7
In te re s t, A c .........................
$ 5 5 8 ,5 8 9
D iv s . p a id as r e n ta ls ___
_______
P rio r p r e f. s to c k (4 % ) . _
520
P r e f. d iv s . Series " A ” . .
98,691
P r e f. d iv s . Series “ B ” _ .
209 ,15 5
C o m m o n d iv id e n d s ____ (3 24)226,542
$ 3 ,1 1 3 ,1 7 5
$ 1,2 6 6 ,7 3 8
$ 476,281
$ 3 ,0 6 6 ,2 9 9
$ 1 ,1 7 9 ,5 5 3
$ 479,461
$ 4 0 ,9 7 8
520
7 5,9 78
7 6,2 18
2 0 9 ,17 0
2 0 9 ,14 5
(5 ) 3 0 0 ,76 5 (5 ) 302 ,10 6
4 5,0 00
199,145
(5 ( 302 ,10 6
$ 3 ,5 3 7 ,4 0 0
$ 1 ,4 3 2 ,2 7 5
$51 6 ,3 7 3
B al. fo r r e n e w .,d o p r .,A c . d e f.$ 1 3 ,2 4 0
$ 32 9 ,2 2 9
$ 2 0 3 ,2 2 8
$ 11 2 ,8 6 3
L A T E S T E A R N I N G S .— -For 12 m o n th s e n d in g M a r . 31:
—
1 9 1 7 -1 8 ...................... -$ 4 ,1 1 5 ,4 7 0 $ 1,0 47 ,0 3 1
$58 6 ,8 9 2
$ 30 7 ,7 6 9 $ 1 5 2 ,3 7 0
3 ,6 5 7 ,4 6 7
1 ,3 6 9,78 0
520,841
2 8 5 ,90 8
5 6 3 ,0 3 i
1 9 1 6 - 1 7 - - ...........
R O A D , A C .— 1 49 .34 m iles sin gle t r a c k , in clu d in g 14.21 m iles o p e ra te d
u n d er c o n tr a c t. 349 passen ger, 2 fre ig h t a n d 53 o th e r c a r s . 5 steam
p o w e r s ta tio n s w ith 4 0 ,5 6 0 k . w . c a p a c ity .
O F F I C E R S .— P res., S am uel G . M c M e e n ; V .- P ., C . M . C la rk ; V . - P . ,
G en . M g r . & T r e a s ., E . K . S te w a r t; V .- P ., N o r m a n M c D . C r a w fo r d ; S ec.
& A n d .. P. V. B u rin g tou ; A s s t. S e c. & A sst. A u d ., H e rb e rt M . B u r in g to n .
M a n a g e d b y E . \V. C la rk & C o . M g t . C o r p .— V . 106, p . 4 9 8 , 1036,
1 344, 1461.
_________
Ya
er
33
ELECTRIC RAILWAYS
Gos Nt(a a.) In
r s. e ft.Tx t.
Didn. S rp s
iv e d u lu.
O F F I O E R S .— P r e s ., D a n a S te v e n s ; V .- P ., J . H . S u n d m a k e r; S e cre ta ry
A T r e a s ., F . A . H e a ly .— V . 9 2 . p . 1564; V . 9 3 , p . 1 532. 1599.
(2) T he Indiana C olum bus & Eastern T ra ction C o.— A tr o lle y road.
L ea sed t o th e O h io E le c tr ic R y . A u g . 31 1 907. L a tte r c o m p a n y gu a r a n ees Interest o n b o n d s a n d 5 % d iv s . o n p r e f. s t o c k a n d o w n s e n tire c o m . s tk .
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 A p ril 14 1906 a n d has a c
q u ire d th e D a y to n S p r in g fie ld A U rb a n a E le c . R y . , th e C o lu m b u s L o n d o n
A S prin gfield R y . , th e C o lu m b u s G r o v e C it y A S ou th w e ste rn R y . , th e
U rb a n a B e lle fo n ta in e A N o rth e rn R y . , th e S p rin gfie ld A W e ste rn I t y ., th e
D a y to n A N o rth e rn T r a c t io n C o . a n d a b o u t 12 m iles o f th e D a y t o n A
M u n c le T r a c tio n C o . , e xte n d in g fr o m G r e e n v ille t o U n io n C it y o n the
In d la n a -O h lo S ta te lin e . H as also a cq u ire d th o C o lu m b u s A L a k e M ic h ig a n
R R . , a steam ro a d o p e ra tin g b e tw e e n L im a a n d D e fia n c e , w h ich h as been
co n v e r te d Into e le c tr ic ity .
L eases th e D a y to n A W e ste rn T r a c t io n C o . a n d th e C o lu m b u s N e w a r k A
Z a n e sville E le c . R y . , w h ich la tter c o m p a n y h a d p r e v io u s ly a b s o r b e d th e
C o lu m b u s B u ck e y e L a k e A N e w a rk T r a c tio n C o . a n d th e Z a n e s v ille R y . L t .
A P o w e r C o . T h e s e leases w ere a ssigned t o th e O h io E le c . R y . A u g . 31 1907.
T h e new general a n d re fu n d in g m o rtg a g e b o n d s w ere liste d on th e P h ila
d elp h ia S to c k E x ch a n g e In F e b ru a ry 1907. V . 8 4 , p . 3 3 9 . See d e sc r ip tio n
o f b o n d s , p r o p e r t y , A c . , In V . 8 3 , p . 3 7 .
.— See rem ark s u n d e r C in c in n a ti S treet R y .
Fvr b TxDc io
aoale a eis n
Dte In ret. Ots nin.
a . te s u tad g
STOCK A N D BON DS—
M a t u r it y .
C o m m o n , $ 3 ,0 2 5 ,0 0 0 ($ 1 0 0 )........................................
$ 3 ,0 2 5 ,0 0 0
P re fe r re d , $ 1,0 0 0 ,0 0 0 ($ 1 0 0 )...............
6%
1 ,0 0 0 ,0 0 0
See t e x t.
G e n a n d r e f m tg e (see t e x t )! 1906 5 g M - N
6 ,6 5 0 ,0 0 0 M a y 1 1928
g o ld ($ 1 ,0 0 0 )------------------c* IT n t. a t P a .C o .fo r In s .o n L .A G .A .,P h iI a .,T r u s .
C o l L o n A S pg 1st m tg e , $1,-1 1900 5 g A -O
5 0 0 ,00 0 O c t 1 1 9 2 0
5 0 0 ,0 0 0 ,
g o ld ( $ l , 0 0 0 ) . . c * / I n t . a t N . Y . T r u s t C o .. N e w Y o r k , T r u s te e .
D a y S pg A U rb 1st m t g e ,! 1898 5 g M - N
7 5 0 .0 0 0 N o v 1 1928
$ 7 5 0 ,0 0 0 , g o ld ($ 1 .0 0 0 )___ /I n te r e s t a t N . Y . T r u s t C o ., N . Y . . T r u s t e e .
— T h e g e n . a n d r e f. m tg e . w as o r ig in a lly fo r $ 1 2 ,0 0 0 ,0 0 0 b u t a u t h .
a m o u n t has be e n re d u c e d t o $ 1 0 ,0 0 0 ,0 0 0 . O f th e rem a in in g b o n d s $ 2 5 0 .
0 00 a re treas. b o n d s d e p o s ite d w ith tru stee a n d are a v a ila b le fo r e x te n s . A
lm p ts . w h en n e t ea rn s, are e q u a l t o 1)4 tim es ln t . ch arges o n b o n d s o u t
a n d t o b e Issued; $ 1 ,2 5 0 ,0 0 0 are h eld t o retire th e u n d e rly in g Hens g iv e n
In ta b le a b o v e . T h o rem a in in g $ 2 ,1 0 0 ,0 0 0 are reserv ed fo r fu tu r e b e tt e r
m e n ts, Im provem en ts a n d e xte n sio n s, a n d ca n o n ly b e Issued as fo llo w s ;
$ 1 , 100,000 w h en n e t In co m e is e q u a l t o 1
tim es ln t . ch arges o n all b o n d s .
In clu din g th o se t o b e Lssued, a n d $ 1 ,0 0 0 ,0 0 0 w h en n et Is eq u a l t o tw ic e ln t.
ch a r g e s . Incl. in t . o n b o n d s t o b e Issued. T h e s e b o n d s are s u b je c t t o ca ll In
w h o le , b u t n o t In p a r t, a t 105 a n d ln t . T h e C o lu m b u s L o n d o n A S p r in g
fie ld b o n d s m a y b e ca lle d a t 110 a n d In t.
o n th ese b o n d o f 6 % o f gross earnings b ega n w ith y e a r e n d in g S e p t 30 1906. See V . 7 1 .
p . 9 6 3 . $192 ,0 0 0 in s in k , fu n d D e c . 31 1917. T h e D a y . S p r in g fie ld A U r
b a n a b o n d s a re s u b j. t o ca ll a t 110 a n d ln t. A
o f 5 % o f gross
earnings began In 1903. $ 18 0 ,0 0 0 In sin k in g fu n d D o c . 31 1917.
R O A D .— C o lu m b u s t o O rie n t, C o lu m b u s th ro u g h S p rin gfie ld t o D a y
t o n , D a y to n t o U n io n C it y a n d R ic h m o n d , I n d ., S p rin gfie ld t o L im a ,
th ro u gh L im a t o D e fia n c e , O . T o t a l m iles o f tra ck (e le ctric) o w n e d , 2 7 7 .1 5 ;
le a sed , 1 39.87; t o t a l, 4 1 7 .0 2 . S ta n d a rd g a u g e . 5 p o w e r h o u se s. 231 c a r s .
O F F I C E R S .— P r e s ., D a n a S te v e n s ; V . - P . , J . H . S u n d m a k e r; S e c. a n d
T r e a s ., F . A . n e a l y ; A s s t. S e c. A A s s t. T r e a s ., J . M . P o g u e .— V . 8 5 , p .
6 0 0 ; V . 86 . p . 7 2 1 ; V . 8 7 . p . 3 7 .
Bns
od.
H
As k g fud
inin n
s k fu d
in, n
O H IO E L E C T R IC 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 . M a y 16 1907 In O h io . O n A u g . 31 1907
p u rch ased tho L im a A T o lo d o T r a c t io n C o ., w h ich o w n e d th o lin e fr o m L im a
to T o l e d o , a n d leased th o L im a E le c . R y . & L t . C o . (th is c o . b e in g p u r
ch ased o n D o c . 31 1 9 0 9 ), w h ich op e ra te s in th e c it y o f L im a , a n d th e F t .
W a y n e V an W o r t A L im a T r a c ., w ith a lin e fro m L im a , O ., t o F t . W a y n e ,
(a ) D a y t o n & W e s t e r n T r a c t i o n . — T r o lle y r o a d .
I n d . A ls o a cq u ire d b y lease th e In d ia n a C o l. A E a s t. T r a c ., w h ic h c o m ’
p a n y assigned t o it th e leases o f C o l. N e w a rk A Z a n e s v ille E le c . R y . a n d
O R G A N I Z A T I O N .— In c o r p o r a te d o n June 26 1 898. W a s lea sed on June
D a y to n A W estern T r a c . O n F e b . 1 1908 p u rch a se d th e C in e . N o rth e rn
15 1906 t o I n d . C o lu m . A E a s t . ( V . 8 2 , p . 1 4 3 7 ). F o r te r m s , see b e lo w .
T r a c . (su b seq u en tly d iss o lv e d ) a n d a cq u ire d fro m th a t c o m p a n y its lease
— See rem a rk s u n d e r C in cin n a ti S tr e e t R y .
o f C in e . D a y t o n A T o le d o T r a c t io n (s o ld u n d er fo r e c lo s u r e J u n e 30 191 7 ).
STOCK—
In clu d in g c it y lines In Z a n e s v ille , N e w a r k , L im a , H a m ilto n a n d o t h e r
p o in ts, op era tin g m ilea ge Is 6 1 3 .4 5 m iles, exte n d in g fr o m Z a n e s v ille o n
C o m m o n , $ 90 0 ,0 0 0 ( $ 1 0 0 ) ____________
Q -J
$ 67 2 ,5 0 0
See t e x t .
th e east via N ew a rk t o C olu m D us (in clu d in g lin e fr o m C o lu m b u s to O r ie n t P r e f, $ 85 0 ,0 0 0 ($100) 5 % c u m ...............
Q -M
8 5 0 ,0 0 0
See t e x t .
an d B u c k e y e L a k e a n d N e w a rk to G r a n v ille b r a n c h e s ), th o n c o th rou gh
— L ease tak in g e ffe c t Ju n e 15 1906 p r o v id e d fo r 5 % p er an n u m
S prin gfield to D a y t o n , a n d fr o m D a y to n to U n io n C it y , w h ore c o n n e c tio n Is o n p r e f. s to c k a n d 5 % on c o m . s to c k in 1906 a n d 1907. 5 ) 4 % in 1908 a n d
m ad e w ith U n ion T r a c . C o . o f In d ia n a fo r M u n c le , A n d e rso n a n d I n d ia n a p 6 % th e re a fte r, b u t u n d e r m o d ifie d lease d a te d F e b . 7 1916 th o p a y m e n t on
olis I n d ., a n d from D a y to n t o R ic h m o n d , I n d .. w h ere co n n e c tio n Is m ad e th o c o m . s to c k w as red u ced t o 3 % . E arn in gs In excess o f th o re q u ire d
w ith T . H . I . A E . T r a c . t o In d ia n a p o lis , e x te n d in g n o r th fr o m S p r in g fie ld ren tal p a y m e n ts a n d $ 10,000 p er a n n u m fo r a d d itio n s a n d b e tte r m e n ts are
th rou gh U rb a n a and B ellefon ta in e to L im a , a n d fro m L im a t o D o fia n c e ; to
t o b o p a id t o th e c o m m o n s to ck h o ld e rs up t o an a d d itio n a l 3 % p e r a n n . fo r
T o le d o , O ., an d F t . W a y n e , I n d .; also fr o m D a y to n t o C in c in n a ti, In clu din g
1st 5 ye a rs. B egin n in g w ith th e 6th y e a r, th e o p e ra tin g c o m p a n y Is e n
G e r m a n to w n , M t . H e a lth y a n d C o lle g e n i l l bra n ch es. E le c tr ic ligh t and title d t o re c e iv e . If e a rn ed , b e fo re p a y in g th e a d d itio n a l 3 % o n th e c o m .
p ow er business is c o n d u c te d in cities o f Z a n e s v ille , L im a a n d W e st A le x s to c k , $10 ,00 0 p er a n n u m as co m p e n s a tio n fo r o p e r a tio n s . A s p a r t o f th e
a n dria a n d stea m -h ea tin g p la n t in L im a .
a g re e m e n t, th o O h io E le c tr ic R y . surren dered $ 7 5 ,0 0 0 D a y t . A W . c o m . s t k .
In M a y 1913 w as gran ted a u th o rity t o Issue $ 3,5 0 0 ,0 0 0 2d m tg e . b o n d s ,
R O A D .— D a y t o n , O .. t o R ic h m o n d , I n d .. w ith b ra n ch fr o m N e w W e s t p r o v id e d $ 5 ,0 0 0 ,0 0 0 o f o u ts ta n d in g s to c k w as r e tire d . T h is w as a c c o r d
v lllo t o N e w P a ris, 3 9 .5 4 m iles. A t R ic h m o n d c o n n e c t io n Is m a d e w ith
in g ly d o n e . V . 9 6 , p . 1365, 1840: V . 9 7 , p . 2 99.
T e r r e H a u te I n d . A E a s t. T r a c ., m a k in g p o ss ib le th e o p e r a tio n o f th ro u gh
I n J u ly 1917 th e O h io P . U . C o m m , a u th o riz e d th e Issue o f $10 0 ,0 0 0
e q u ip m e n t n o te s , th o p ro ce e d s t o b e u sed t o p a y in p a rt fo r 4 m o to r o x - ca rs fr o m In d ia n a p o lis , v ia D a y t o n , t o C o lu m b u s , a d is ta n c e o f 194 m ile s .
pross ca rs , 10 fla t ca rs a n d 16 b o x ca rs.
O F F I C E R S .— P r e s , a n d T r e a s ., V a le n tin e W in te r s ; V . - P . , F . A . F u n k — E ffe c t iv e F e b . 15 1918, w agos o f ca rm e n o n in tcru rb a n
h o u se r; S e c ., H e n r y L o y : A ss t. S e c. A T r e a s ., G . A . F u n k h o u s e r J r ., all
linos w ere in creased 4 cen ts p er h o u r.
V . 106, p . 929.
o f D a y t o n . V . 8 2 . p . 1437; V . 8 3 , p . 3 6 , 9 4 , 3 7 9 .
.— See C in . D a y t . A T o l . T r a c . C o . b e lo w .
( b ) C o lu m b u s N e w a r k & Z a n e s v i l l e E le c t r ic R y . C o .— A tro lle y r o a d .
STOCK A N D BONDS—
O R G A N I Z A T I O N .— In co r p o ra te d In O h io o n J u ly 2 1 902, a n d In A p r il
C o m m o n . $ 8 ,0 0 0 ,0 0 0 ($ 1 0 0 ).......................................
$ 8 ,0 0 0 ,0 0 0 .......................
1904 a b s o rb e d th e N e w a rk A G ra n ville S treet R y . In Ju n e 1906 a c q u ir e d
P re fe r re d , $ 6 ,0 0 0 ,0 0 0 5 % n o n }
th e C o lu m b u s B u c k e y e L a k e A N e w a rk T r a c t io n C o . , th e p re fe rre d s h a re
____
__________
3 ,0 0 0 ,0 0 0
See t e x t .
cu m ($ 100 ) ______
1910 5 g J-J
4 ,2 0 0 ,0 0 0 Jan 1 1930 h old ers b ein g giv e n $ 50 0 ,0 0 0 In p r e f. s to c k fo r th eir h o ld in g s . A ls o t o o k
1st A r e f. m tg e . $ 1 5 ,0 0 0 ,0 0 0
g o ld ($ 1 . 000) ......................c * I n t . a t F id e lity T r u s t C o ., P h lla ., T r u s t e e . o v e r th e Z a n o s v . R y . L ig h t A P o w e r C o . a n d w as th en leased o n J u n e 23
1906 t o th e In d ia n a C o lu m . A E a s t. T r a c . C o . fo r len gth o f
and
2 ,9 2 7 .2 0 0 Ju n e 1 1943
2nd A gen m tg e $5,000,000, 1913 5 g J -D
ren ew als th e re o f. R e n ta l Is Interest o n b o n d s , an a m o u n t eq u a l to 6 % o n
gold C$100) ($500) ($1,000) I n t . a t F id e lity T r u s t C o .. P h lla ., T r u s te e .
th e preferred s to c k a n d $ 500 fo r org a n iza tio n exp en ses.
V . 83, p . 625.
__________ Series „
_____ __
4 0.0 00
S ee t e x t.
E q u ip n ote s_______ . ‘ ‘ A $ 1 6 0 ,- 1910 5 g J-J m
P riv a te rig h t o f w a y fr o m N e w a rk t o Z an e sville ;
o n o th e r lines
0 00 g o ld ( $ 1 , 0 0 0 ) ............. c * ) l n t . a t F id e lity T r u s t C o .. P h lla ., T r u s t e e .
expire 1925 to 1928. E n tir e c o m m o n s to c k Is o w n o d b y O h io E le c . R y . O o ,
E q u ip n otes S e r ie s ‘ ‘ B ” $ 1 3 0 ,-l 1911 5 g J-J
$ 4 5 ,00 0
000 g o ld ( $ 1 , 0 0 0 ) ............. c * J I n t . a t F id e lity T r u s t C o .. P h lla ., T r u s te e .
— See rem arks u n d e r C in cin n a ti S treet R y .
E q u ip n ote* Series “ C ’ ’$ 1 2 0 ,-l 1912 5 g J - D
,J>4,000
S ee t e x t.
STO CK A N D BON DS—
b od g o ld ( $ 1 , 0 0 0 ) ............. c * j I n t . at F id e lity T r u s t C o . , P h lla .. T r u s te e .
C o m m o n , $ 1 ,5 2 5 ,0 0 0 ($ 1 0 0 ).......................................
$ 1 ,5 2 5 ,0 0 0 .......................
E q u ip n otes Series “ D ” $ 1 0 0 , -J 1914
5 g M -S
6 0,0 00 , S ee t e x t .
P f , 6 % c u m , $ 50 0 ,0 0 0 ($ 1 0 0 )................ 6
Q -J
6 0 0 ,00 0 S ee t e x t.
000 g o ld ($ 1 .0 0 0 )..................l i n t , a t F id e lity T r u s t C o . , P h lla .. T r u s te e .
1st m tg e , $ 2 ,0 0 0 ,0 0 0 , g o ld ! 1904 5 g M -S
1 ,2 5 0 ,0 0 0 M c h 1 1924
E q u ip n otos “ E ” $ 1 3 0 ,0 0 0 / 1917 6 g J-J
1 25,000
Seo te x t.
( $ 1 , 0 0 0 ) _________________ c * l l n t . a t C o lu m b ia T r . C o ., N . Y . , tru stee.
($ 1,0 00 ) g ..................... c * t f ( l n t . a t F id e lit y T r u s t C o ., P h lla ., T ru ste e .
G e n A r e f m tg e , g o ld , $ 6 ,-\ 1906 5 g M - N
1 ,2 1 1 ,0 0 0 M a y 1 1926
— P referred Is r e d . a t 105 o n 30 d a y s ’ n o t ic e .
2 5 0 ,0 0 0 ($ 1 ,0 0 0 )_______ c * / I n t . a t G ira rd T r u s t C o . , P h lla ., T r u s te e .
— $ 3 ,2 6 0 ,0 0 0 1st & r e f. b o n d s are roserved t o retire p rio r lien* O B L A N 1st m tg e , $ 1 ,5 0 0 .-1 1901 5 g M - N
1 ,2 4 3 ,0 0 0 N o v 1 1921
($ 1 ,2 5 0 ,0 0 0 b o n d s o f L im a E L R y . A L t . C o . an d $ 2 ,0 0 0 ,0 0 0 b o n d s o f
0 0 0 , g o ld ($ 1 ,0 0 0 )_______ c * / l n t . a t C o lu m b ia T r . C o ., N . Y . . tru stee.
F t . W a y n e V a n W e rt A L im a T r a c . C o .) a n d $ 7 ,5 5 0 ,0 0 0 fo r a d d it io n s , Z a n e s v ille R y , L t A P o w 1 s t / 1902 5 g M -S
7 5 0 ,00 0 M a r 1 1924
b etterm en ts, A c .
E n tir e Issue Is s u b je c t to ca ll o n a n y Interest d a y
co n s m o rtg a g e . $ l ,0 0 0 ,0 0 0 ( ln t . a t C e n t . T r . A S . D . C o . , C in e ., T r u s te e .
a t 105 a n d Interest o n 58 d a y s ' n o t ic e .
N o sin k in g fu n d .
The
($ 50 0 , $ 1 ,0 0 0 ), g o ld ____ c * l
o r T ru s t C o . o f A m e r ic a , N e w Y o r k .
2nd A g en . m tg e . Issue Is s u b j. t o ca ll o n a n y In t. d a te fo r p a y m e n t In cash
Registrar, Guardian Trust A Safe Deposit Co., Zanesville. Ohio.
o r fo r s u b stitu tio n o f 1st A r e f. m tg e . b o n d s o f 1910 exc h a n g e a b le a t par Z a n e s v E le c 1st m tg e , $ 3 0 0 .- f 1899 4 g F -A
2 5 0 ,0 0 0 F e b 1 1919
o n 8 w eek s’ n o tlc o . B o n d s t o b o d e liv e re d fo r pu rp oses o f lm p t s ., as a p
0 0 0 , g o ld , s u b je c t t o ca iH In te re st a t In te rn a tio n a l T r u s t C o ., B o s t o n ,
p ro v e d b y P u b lic S e rv ice C o m m iss io n o f O h io o r o th e r g o v e rn m e n ta l
a fte r 1903, $ 1 ,0 0 0 e a c h . . c l
T ru ste e .
a u th o r ity . N o s k . f d . M o r tg a g e c o v e rs r ll p ro p e rtie s a n d lea seh old
— O f th e $ 8 ,2 5 0 ,0 0 0 g e n . A r e f. b o n d s , $ 3 ,4 9 3 ,0 0 0 a re reserv ed to
es ta te, s u b j. t o u n d erly in g lie n . Series “ A ” e q u ip , notes m atu re $ 8,0 00 retire p rior liens a n d $ 1 ,5 4 6 ,0 0 0 fo r b e tte rm e n ts an d ex te n s io n s . T h e y are
s em l-a n n . co m m e n cin g J a n . I 1911. Series
B
e q u ip , n o te s are 1st s u b je c t t o call a fte r 5 years a t 105 an d Int. U n d er term s o f this m t g e ., n o n e
m tg e . on 26 ca rs . T h e y m atu ro s e m l-a n n . ($ 7,0 00 J a n . 1 a n d $ 6 ,0 0 0 J u ly 1) o f th e $75 0 ,0 0 0 1st m tg e . b o n d s un issu ed ca n n o w b e Issued. T h e entire
fro m J an . 1 1912 t o J u ly 1 1921, in cl. Series " C ” e q u ip , n o te s are 1st m tg e .
Issue o f C o l. N e w . A Z a n e s v . 1st 5s ca n b e ca lle d a t 110 a n d ln t . o n a n y ln t.
on 43 cars a n d m atu ro $ 6 ,0 0 0 s e m i-a n n . b e gin n in g D e c . 1 1912. Series “ D "
d a te . V . 8 0 , p . 1234. T h e C o l. B u c k . L . A N e w . b o n d s are s u b je c t to
e q u ip , n otos m atu ro $ 5,0 00 s em i-a n n u a lly b egin n in g S ept. 1 1914. Sorios call o n a n y Int. d a te a t 110 a n d ln t . o n 3 m o n th s ’ n o tic e . Z a n e s v ille R y . ,
“ E ” e q u ip , n otes are d iv id e d in t o Series “ E 1” a n d Series “ E 2 , " a m o u n tin g
L t . A P o w e r b o n d s fell d u e O c t . 1 1912 b u t w ere e x te n d e d t o M a r . 1 1 924.
t o $ 10 0 ,0 0 0 a n d $ 3 0 ,0 0 0 , r e s p e c t iv e ly , th o fo rm e r h a v in g p r io r it y . T h e y
m atu re $5,0 00 s .-a . un til Jan . 1 1928, w h en $ 1 5 ,00 0 is p a y a b le s .-a . t o $ 25 0 ,0 0 0 roserved t o retire u n d e rlyin g b o n d s .
R O A D .— O perates 9 5 .8 5 m iles o f tra ck fr o m C o lu m b u s t o Z a n e s v ille ,
m a tu r ity . A ll Issues o f eq u ip , n o te s a r o g u a r ., p . A 1., b y e n d . o f O h io E l. R y .
Inclu din g th e c it y lines In Z a n e s v ille . N e w a rk a n d G r a n v ille a n d a b ra n ch
E A R N I N G S .— F o r c a l. y e a r 1917. gross fr o m ra ilw a y , $ 3 ,9 0 0 ,2 3 3 ; ligh t t o B u c k e y e L a k e . O perates ligh tin g an d p o w e r p lan ts In Z a n e s v ille .
a n d p o w e r , $ 47 9 ,5 3 9 ; m ls c ., $ 9 ,2 7 2 ; t o ta l, $ 4 ,3 8 9 ,0 1 4 ; n e t, a fte r taxos, S ta n d a rd gauge; 60 a n d 7 0 -lb . T rail an d 9 0 -lb . g ir d e r . A ls o o w n s am u se
S I ,2 9 9 ,9 3 8 . I n 1916, gross fr o m ra ilw a y , $ 3,7 2 1 ,0 5 9 ; ligh t a n d p o w e r , m e n t park on B u ck e y e L a k e . O w n s a n d op e ra te s Its H e b r o n p o w e r p la n t
$ 40 9 ,4 2 6 ; m ls c ., $ 1 8 ,43 3 ; to ta l, $ 4 ,1 4 8 ,9 1 8 ; n e t, a fte r ta x e s, $ 1 ,5 9 5 ,5 3 3 .
w ith Its o w n natu ral g a s.
O F F I C E R S .— P r e s ., W . K o s lo y S ch o o p f; V .- P ., D a n a S tev en s; S ec. A
O F F I C E R S .— P r e s .. D a n a S te v e n s ; V . - P . , J . H . S u n d m a k e r: S e c . and
T r e a s ., F . A . H ea ly ; G en . M g r ., II. G . G ilp in .
G on eral o ffic e s , In tcru rb a n
T r e a s ., F . A . I lo a ly .— V . 8 7 , p . 37; V . 9 5 , p . 4 7 , 8 9 0 , 1039; V . 106, p . 9 2 4 .
B ld g ., S prin gfield , O h io .— V . 9 8 , p . 6 90; V . 102, p . 801; V . 103, p . 1593;
V . 105, I). 181, 1898; V . 106, p . 9 29.
( 8) L im a E le c t r ic R a i l w a y & L i g h t . — A tro lle y r o a d .
A cq u ire d b y p u rch a se b y O h io E le c tr ic R y . D e c . 31 1909.
(1) C o lu m b u s I n t c r u r b a n T e r m i n a l C o .
O R G A N I Z A T I O N .— T h o c o m p a n y Is a c o n s o lid a tio n c o m p le te d A u g . 1
E n tire s to c k o w n od b y O h io E le c . I t y ., w h ich g u a r , b o n d s .
1900 o f th e L im a R y . (In co rp o ra te d N o v . 5 1896) a n d th e L im a E le c tr ic
O R G A N I Z A T I O N .— I n c o r p . in O h io o n M a y 24 1910. O w ns a n d
L ig h t A P o w e r C o .
W as leased J u ly 1 1905 t o th e L im a A T o le d o T r a c t io n ,
operates sln co J an . 1 1 9 1 2 passenger a n d fre igh t term in al s ta tio n s l n C o l u m b .
w h ich loaso was assigned t o O h io E le c tr ic R y . A u g . 31 1907.
STOCK A N D BON DS—
STOCK AN D BON DS—
8 t o c k $ 10,000 ( $ 100) ------- - - - - - $ 1,000 .......................
S to c k . $ 5,0 00 ( $ 1 0 0 ) ........................................ ............
$ 5,0 00 .......................
F irst m tg e $ 1 ,0 0 0 ,0 0 0 g o l d ! 1910 5 g J -D
4 3 3 ,0 0 0 J u n e 1 1935
2 d c ’n . (n ow l s t ) m t g .$ 8 5 0 ,0 0 0 ,/ 1902
5 g A -O
3 5 0 ,00 0 A p r 1 1925
($500) gu ar p A 1-------------c * j I n t . a t O lt. T r. A S a v . B k ., C o lu m b u s , T r u s t ,
g o ld ($ 1 ,0 0 0 )____________ c * l l n t . a t F id e lity T r u s t C o ., B u ffa lo , T r u s te e .
— R em ain in g b on d s reserv ed fo r a c q u isitio n o f a d d itio n a l real L im a E le c R y A L ig h t, r e ff 1905
5 g M -S
9 0 0 ,00 0 S e p t 1 1925
e s ta te , a d d itio n s , lm p t s ., A c . N o t s u b je c t t o ca ll.
m o rtg a g e , $ 1 ,2 5 0 ,0 0 0 . g o ld \ ln t . a t G ira rd T r . C o ., P h lla ., P a ., T r u s te e .
FvraleTxDc io .
ao b a eis n
D .Prio. Ots n’g Ls Didn.
iv e d u tad . at iv e d
Didns
iv e d.
WeInre s.
a c ae
g
DfaltinRn l, &
e u e ta c
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
fra c is
nh e
fra c iss
nh e
Fvr b TxDc io .
aoale a eis n
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S c.
tok
Bns
od.
Bns
od.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od.
Dte In rs Ots nin. Mtu .
a . teet. u tad g a rity
[Vol. 106
ELECTRIC RAILWAYS
34
Bns
od.
C le v e la n d T r u s t C o . as tru stee. T h e la tte r m a d e an o ffe r t o e xch a n g e
th e b o n d s fo r 1st & R e f. M . 5s o f th e C o l. D e l. & M a r io n E le c . C o ., w h ich
h a d th o a p p r o v a l o f a m a jo r it y o f th o b o n d h o ld e r s ’ c o m m it t e e , b u t was
0 p p o s e d b y R u d o lp h K le y b o lt e a n d J o h n T . T y le r .
Seo V . 105, p . 1418.
O R G A N I Z A T I O N .— I n co r p o ra te d in 1901.
BONDS—
1st m o r t ., $ 1 ,0 0 0 ,0 0 0 , g o l d / 1901
5 g M -N
$ 1 ,0 0 0 ,0 0 0 M a y 1 1921
( $ 1 , 0 0 0 ) _________________ c * { I n t . a t Cle\ land T r u s t C o .. C le v e la n d .
( T r u s te e , o r B an k e rs T r u s t C o . in N . Y .
(4)
F o r t W a y n e V a n W e r t & L im a T r a c t i o n C o .— A tr o lle y r o a d .
— See V . 7 5 . p . 76O R G A N I Z A T I O N .— O n M a r . 1 1906 w as le a se d , until e xp ira tio n o f f r a n
R O A D .— O perates an e le ctric ra ilw a y ( o f w h ich 33 m iles o v e r p r iv a te
chises a n d ren ew als t h e r e o f, t o L im a & T o le d o T r a c t io n C o ., w h ich g u a r a n rig h t o f w a y ) fro m C o lu m b u s t o M a r io n , pa ssin g th ro u g h F ra n k lin , D e la
teed th e in terest. V . 8 2 , p . 6 91 . L ea se w as assign ed to O h io E le c tr ic R y .
w are an d M a r io n co u n tie s . A ls o 4 mll&s in th o C it y o f D ela w a re, a tota l
A u g . 31 1907. T h e la tter c o m p a n y o w n s all th e c o m m o n s t o c k .
I n c o r p o r o f 57 tniles.
V . 8 0 , p . 117; V . 9 1 , p . 945; V . 9 3 , p . 1190; V . 105, p . 1418.
a te d in In d ian a a n d O h io .
R o a d is e n tire ly o n p r iv a te r ig h t -o f-w a y e x c e p (2) C o lu m b u s N o r t h e r n R y . P o w e r & E q u ip m e n t C o .
ln to w n s , w h ere it has 25 o r 5 0 -y e a r fra n ch ise s.
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 O c t . 24 1904 t o erect a
— See rem arks u n d er C in cin n a ti S treet R y .
p o w e r h o u se a t D e la w a re an d su b -sta tio n s t o s u p p ly e le ctricity fo r p ow er
STOCK A N D BON DS—
a n d h e a t . T h e M a r c h 1914 c o u p o n an d s u b se q u e n t c o u p o n s w ere paid
$ 1 ,0 0 0 ,0 0 0 .......................
C o m m o n . $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 ).....................................
3 m o n th s a fte r th e y m a tu r e d . M a r . 1918 c o u p o n w ill p r o b a b ly b o p a id
P r e f, $ 1 ,0 0 0 ,0 0 0 , 5 % n -c ($ 1 0 0 )
.........................
1 ,0 0 0 ,0 0 0 .......................
J u n e 1 1918.
F irst m tg e , $ 2 ,0 0 0 ,0 0 0 , g o l d / 1905
5 g J -J
1 ,4 7 0 ,0 0 0 J u ly 1 1930
BON DS—
gu aran teed ($ 1 ,0 0 0 )____ c * \ I n t . a t F id e lit y T r u s t C o ., P h lla ., T r u s te e
1st m o rtg a g e . $ 30 0 ,0 0 0 . g o l d / 1904
5 g M -S
$ 23 3 ,0 0 0 S e p t 1 1934
( $ 1 , 0 0 0 ) _______ ______ _____c l l n t . a t G u a r a n ty T r u s t C o ., N . Y . , T r u s t e e .
— O f th e $ 2 ,0 0 0 ,0 0 0 b o n d s , $ 5 3 0 ,0 0 0 are reserved fo r e xten sion s
a n d Im p rovem en ts. V . 8 2 , p . 6 9 1 . A re n o t s u b je c t t o c a ll.
(3 ) M a r lo n R a i l w a y , L i g h t & P o w e r C o .
R O A D .— 6 1 .6 3 m iles o f e le ctric tra ck fr o m F t . W a y n e via N e w H a v e n ,
O R G A N I Z A T I O N .— I n co r p o ra te d In O h io on J u n e 24 1903 a n d is a
M o n r o e v ille , V an W e r t . M ld d le p o ln t, D e lp h o s a n d E lld a t o L im a . C o m
c o n so lid a tio n o f th e M a r io n S treet R a ilw a y C o . a n d th e M a r lo n E le c tr ic
m en ce d c o m p le te op e ra tio n N o v . 15 1905. C o n n e c ts at F t . W a y n e w ith
L igh t & P o w e r C o . Jan . 1914 and s u b seq u en t co u p o n s w ere paid six
th e F t . W a y n e & N o r . I n d . T r a c . a n d a t L im a w ith tho O h io E le c . R y . ,
m o s . a fte r th e y m a tu r e d . J an . 1 1918 c o u p , will p r o b a b ly b o p a id J u ly 1 '1 8 .
an d form s p a rt o f th rou gh line fro m F t . W a y n e t o T o le d o , D a y t o n a n d
BONDS—
C o lu m b u s . S ta n d a rd g a u g e . 7 0 -lb . T ra ils.
1 st m tg e . g o ld ($ 1 .0 0 0 )— c * ( 1904
5 g J-J
$ 30 0 ,0 0 0 J u ly 1 1 9 2 4
O F F I C E R S .— P r e s ., W a lte r A . D r a p e r ; V .- P .. J . H . S u n d m a k e r; S e c.
l i n t , a t G u a r a n ty T r u s t C o .. N . Y . . T r u s te e .
a n d T r e a s .. F . A . H e a ly .— V . 8 2 , p . 6 91 , 8 04 ; V . 8 3 , p . 3 7 .
— N o sin k in g fu n d and b o n d s c a n n o t be c a lle d .
R O A D .— 4 m iles o f track in M a r lo n . S ta n d a rd g a u g o . 60 a n d 7 0 -lb . rail.
— T h e b on d s o f 1902 are a lien on t h e e le ctric-lig h t a n d h e a tin g
p la n t, as w ell as o n th o r a ilw a y . C a n n o t b e ca lle d b e fo re m a t u r it y . $ 3 5 0 ,
refu n d in g b o n d s a re reserv ed t o retire p rio r lien s.
R O A D .— O w ns 10.91 m iles o f tra ck , also a ste a m -h e a tin g p la n t (fran ch ise
p erp etu a l, op e ra te d In co n n e ctio n w ith th e ele ctric-lig h tin g p la n t ). C o n
tr a c t ord in a n ce fo r c it y ligh tin g expires A p ril 1919.
O F F I C E R S .— P r e s ., D a n a S te v e n s ; V .- P s ., J . H . S u n d m a k e r; S e c .
r e a s ., F . A . H e a ly . S p r in g fie ld , O h io .— V . 8 1 , p . 1 55, 1100.
000
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S
c
Bns
od.
Fvr b TxDc io .
aoale a eis n
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Dte In rs Ots nin. Mtu .
a . teet. u tad g a rity
Bns
od.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od.
O aiztio
r na n
g
CINCINNATI & DAYTON TRACTION CO.
.— In c o r p . A p ril 26 1918 w ith $ 1 ,2 5 0 ,0 0 0 a u th . ca p ita l s to c k ,
as s u ccessor t o th o C in cin n a ti D a y t o n & T o le d o T r a c t io n C o ., w h o so
p ro p e rtie s w ere s o ld a t fore clo s u re o n J u n o 30 1917 t o th o c o m m it t e e fo r th e
$ 2,7 0 0 ,0 0 0 C . D . & T . 1st c o n s . 5s fo r § 4 0 0 ,0 0 0 , s u b je c t t o $ 2 ,3 0 0 ,0 0 0
u n d e rly in g m ortg a g es . H o ld e rs o f a b o u t $ 25 0 ,0 0 0 u n d o p o s ite d b o n d s will
r e c e iv e a b o u t $ 148 fo r ea ch $ 1,000 b o n d in se ttle m e n t.
H as been a u th . t o issue $ 4,5 0 0 ,0 0 0 2 0 -y e a r 5 % b o n d s t o c o v e r p resen t
a n d fu tu re needs a n d p r o v id e fo r retirem ent' o f u n d e rly in g b o n d s .
V . 106,
p . 2 122. C o m p a r o V . 106, p . 1461.
*
1st
6s .— L e o J . V an L a h r , Jam es M .
H u t t o n , C la u d e A s h b r o o k , E d g a r F rle d la n d e r a n d O tto A rm le d e r . D e
p o s it a r y , P r o v id e n t S a v . B a n k & T r u s t C o . , C in c in n a t i. F o r s ta te m e n t b y
c o m m itte e , see V . 102. p . 4 3 6 . See also V . 102, p . 8 0 0 .
1st 6s .— W . S. H a y d e n a n d E . V . H a le ,
w ith G a rd n er A b b o t t , S e c ., 1215 W illia m s o n B ld g ., C le v e la n d . D e p o s i
t a r y , C itiz e n s ' S a v . & T r . C o . , C le v e la n d . C o m m itte e a rra n g ed t o a d
v a n c e as a loan to d ep o s itin g b o n d h o ld e rs th o a m o u n t o f th e u n p a id c o u p o n s ,
C O L U M B U S N E W A L B A N Y & J O H N S T O W N T R A C T I O N C O .— A
tro lle y ro a d .
O R G A N I Z A T I O N .— I n co r p o ra te d in O h io on M a y 4 1899. In M a y
1905 ca n ce le d o ld m t g e .'fo r $ 200,000 and m a d e th e new m o rtg a g e in ta b le
b e lo w . V . 8 0 , p . 2 399.
are fo r 25 y e a rs .
STO CK A N D BONDS—
C o m m o n , $ 40 0 ,0 0 0 ($ 1 0 0 )......................................... $ 20 0 ,0 0 0 .......................
P re fe rre d . 6 % c u m , $ 2 0 0 , 0 0 0 / ____
________
2 0 0 ,000 ___________ ($ 1 0 0 ).................... - .................. 1
First m tg e , $ 45 0 ,0 0 0 , g o ld ) 1905
5 g J-J
N o n e . Jan 1 1925
($500 a n d $ 1 ,0 0 0 )_____ n t f i P r o v . S a v . B an k & T r . C o .. C in e ., T ru s te e .
R E P O R T .— F o r yea r en din g D e c . 31 1917. g r o ss , $ 1 4 ,8 8 7 ; n o t p r o fit s ,
$ 1 3 ,7 7 2 ; taxes a n d m ls c ., $ 2 ,4 4 7 ; n o t ga in fr o m o p e r a tio n , $ 1 1 ,2 9 5 .
R O A D .— O p erates 8.8 m iles o f tra ck fro m C o lu m b u s to G a h a n n a , In clu d
ing perp etu al lease o f 2 .7 m iles o f tra ck s o f th e C o lu m b u s R y . as term in al;
g a u g e . 5 f t . 2 in .; 6 5 -lb . T r a i l — V . 9 1 . p . 1629: V . 9 2 . p . 1032, 1498.
STO CK A N D BON DS—
S to c k , $ 1 ,2 5 0 ,0 0 0 -.................... ..............
1st & R e f. C o n s . M t g e _______ 1 9 1 8 -
S C I O T O V A L L E Y T R A C T I O N C O — T h ir d ra il.
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 w ith a p e rp e tu a l ch a rter in
1904. B u ilt on p riv a te rig h t o f w a y .
e xten d b e y o n d m a tu r ity
o f 1st m tg e . b o n d s . In 1908 ca n c e le d $ 2 ,0 0 0 ,0 0 0 m tg e . o f 1903 a n d m ad e
new m tg e . fo r $ 4,0 0 0 ,0 0 0 , w h ich see b e lo w . S to c k h o ld e rs v o t e d S e p t. 22
1908. au th o riz in g $50 0 ,0 0 0 n ew 5 %
p referred s t o c k , w h ich ranks
ahead o f o ld preferred s to c k ( V . 8 7 . p . 481 a n d 6 1 5 ).
In A p r . 1916 th o O h io P . U . C o m m . a u t h . th o issu a n ce o f th e rem ain ing
$ 20 0 ,0 0 0 5 % 1st p r e f. s to c k t o a cq u ire th e e n tire s to c k o f th o C o lu m b u s
D e p o t C o ., w h ich w as in c o r p o r a te d in 1912 In th o in terest o f th o c o m p a n y
to b u ild a te rm in al in C o lu m b u s . V . 102, p . 1626.
In J a u . 1917 the c o . leased fr o m th e S ta te o f O h io fo r 2 5 years a t an annual
e n ta l o f $ 6,000 th o b e d o f th e o ld ca n a l fe e d e r fr o m th o L o c k b o u r n o R o a d
o M a in S t ., a b o u t 11 m iles, fo r a n ew e n tra n c e In to C o lu m b u s .
STOCK A N D BONDS—
C o m m o n . $ 1,8 0 0 ,0 0 0 ($ 1 0 0 )........................................
$ 1 ,8 0 0 ,0 0 0 .......... ............
1 st p rer, $ 50 0 ,0 0 0 , 5 % c u m ..................
Q -M
5 0 0 ,00 0 J a n . '1 8 , l l i
P r e f, $ 1,2 0 0 ,0 0 0 .
c u m ! ____
Q -M
1 ,2 0 0 ,0 0 0 J an . '1 8 .
( $ 100) ............. ............................
1st m o r t g , $ 4 ,0 0 0 ,0 0 0 . g o l d / 1908
5 M -S
1 ,5 3 6 ,0 0 0 S e p t 1 1923
( $ 1 , 0 0 0 ) _______________c * t f l i n t , a t H arris T r .
S a v . B k .,C h i c .. T r u s te e .
— A d d itio n a l 1st M . b o n d s ca n o n ly b e Issued fo r 7 5 % o f cash ex
p e n d itu re s , an d fo r p e rm a n e n t exte n sio n s a n d a d d itio n s t o p r o p e r t y , and
o n ly w h e n n e t earnings are tw ic e th o in t. ch a r g o o n o u ts ta n d in g Donds and
th o se t o b e Issued. B o n d s h a v e a
o f 1 % p e r a im . o n b o n d s o u t
1913 t o 1917; th e re a fte r 2 % p er a n n . $ 6 4 ,0 0 0 h a v e b o o n r e tire d . T h e y are
n o t s u b je c t t o c a ll. See p a rtic u la r s, b o n d s , p r o p e r t y , & c .. In V . 8 7 , p . 6 79.
— D iv id e n d s o n o ld issue o f p r e f. s to c k w ere to a ccr u e from
O c t . 1 1905, b u t a m o u n ts d u o J a n . 1 1906 a n d A p ril 1 1906 w ere relinquished
b y sh a reh old ers, and 1st d lv .
w as p a id J u ly 1906 a n d
O c t.
1906 (V . 8 2 , p . 144 0 ); in 1907 and s ln c o , 5 % p e r a n n u m .
E A R N I N G S .— F o r 12 m o n th s e n d in g J u n e 30:
—
,
,«tc.
1 9 1 6 - 1 7 ................. $ 5 1 0 .6S2
$ 1 9 9 ,7 1 3
$ 10 8 ,3 8 7
$ 8 3 ,0 0 9
$ 8,3 17
1915-16 ................. 4 7 4 .4 5 3
2 1 3 ,8 0 1
101 ,97 5
7 6 ,3 9 6
3 5 ,4 3 0
1914-15 ................. 4 6 3 ,15 4
105.111
9 8 .6 6 4
7 5 ,0 0 0
2 1 ,4 4 8
R O A D .— O perates 72 m iles o f tra ck fr o m C o lu m b u s t o L a n ca s te r an d
fro m C o lu m b u s t o C h llllco th e . Is o p e ra te d b y th ird -ra il s y s te m . S ta n d a rd
g a u g o . 7 0 -lb . T ra il. W ith in c it y lim its o f C o lu m b u s , c o m p a n y op ora tes
o v e r tra ck s o f C o lu m b u s R y . , P o w . & L t . C o . u n d e r o p e r . a g re e m e n t.
O F F I C E R S .— P res, and M g r ., F rank A . D a v is ; V .-P r o s . a n d T r e a s .
E d w in R . S h a rp ; S e c .. A . O . M o o r h a u s , S u p t ., O . S k in n e r.— V . 8 7 , p . 481
6 1 5 , 6 79; V . 9 1 . p . 8 71 ; V . 102. p . 1 437, 1626.
Cmitte fo C D T Cn.
o m e r . . . os
Cmitte fo C e &HmE c
o m e r in. a . le.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Udr in Ise~~
nelu a sus~“
.................... $ 1 ,2 5 0 ,0 0 0
5%
(? )
- .......................
1938
S ou th ern O h io T r a c 1st c o n s / 1900
5 g M -N
1 ,3 5 0 ,0 0 0 M a y 1 1920
$ 2,0 0 0 ,0 0 0 ($ 1 ,0 0 0 ), g o l d c * U n t . a t C le v e la n d T r u s t C o ., T r u s t e o , o r at
I S ta n d a rd T r u s t C o ., N o w Y o r k .
C in & H a m E le c 1st g ($500) f 1898
6 g J -J
4 00,000 J u ly 1 1918
$ 50 0 ,0 0 0 , n o t s u b j t o c a l l - - l i n t , a t C It. S a v . & T r . C o ., C lo v e ., T r u s te e .
D a y to n T r a c t io n 1st M , g f 1896
5 g J -J
2 5 0 ,00 0 M a y 1 1920
($ 1 ,0 0 0 ), in t g u a r_______ c * \ I n t . a t F in a n ce C o o f P e n n ., P h lla ., T r u s t e e .
H a m & L in d en w a ld E l T r a n ) 1901
5 g J -D
250 ,00 0 J u ly 1 1922
1st M s f $ 25 0 ,0 0 0 , g ($1,-|-In terest a t C le v e la n d T r u s t C o . , T r u s te o .
000) , in t g u a r___________c * /
M ia n i & G erm 1st gu ar ( $ 5 0 ,-/ 1901
6 g J -D
5 0,0 00 J u ly 1 1922
0 0 0 ). g o ld ($ 1 ,0 0 0 )______c * l l n t e r e s t a t C in cin n a ti T r u s t C o . , T r u s t e o
— N o n e o f th o u n d e rly in g issues is s u b je c t t o ca ll.
O f tne $ 2 ,0 0 0 ,0 0 0 S o u th . O h io T r a c t io n b o n d s , $ 65 0 ,0 0 0 are r e s e rv e d to
retire C in . & H a m . E le c tr ic b o n d s a n d D a y t o n T r a c tio n b o n d s . Issue
listed on P h ila d elp h ia S to c k E x ch a n g e . T h e D a y t o n T r a c tio n 5s m atu re d
orig in ally o n J u ly 1 1916, b u t w ere exte n d e d t o M a y 1 1920.
T h e H a m . & L in d . E le c . T r a n , a n d M la m ls b . & G e r m , b o n d s o r ig in a lly
fell d u e D e c . 1 1911, b u t a rran gem en ts w ere m a d e a t th a t tim e t o e xten d
th em t o J u ly 1 1922.
V . 9 3 , p . 1386, 1387. A n n u a l
o f 5 % on
H a m . & L in d , b o n d s b ega n D e c . 1 1906, in creasin g 1 % ea ch y e a r up t o 1 911.
$ 5 2 ,0 0 0 in s in k in g fu n d D e c . 3 1 , 1916.
R O A D .— O w ns 9 1 .0 7 m iles o f e le ctric t r a c k , co n n e ctin g C in c in n a ti w ith
D a y to n , in cl. G e r m a n to w n , M t . H e a lth y a n d C o lle g e H ill b ra n ch es a n d th o
H a m ilto n c it y lines. C arries fre ig h t a n d express. V . 106, p . 2 9 5 , 1900, 2122_
Bns
od.
s k gfu d
inin n
COLUMBUS DELAWARE & MARION ELECTRIC CO.
O R G A N I Z A T I O N .— I n c o r p . In O h io Ju n e 14 1917 t o ta k o o v e r th o
p ro p e rtie s o f th e C o lu m b u s D e la w a re & M a r io n R y . , s o ld u n d e r fo re clo s u re
on J u n e 11 1917, s u b je c t t o u n d e rly in g m o rtg a g e s a gg re g a tin g $ 1,5 3 3 ,0 0 0
(w h ic h , h o w o v o r , w ere n o t assu m ed b y th e O . D . & M . E le c . C o ., th o righ ts
o f s u ch b o n d h o ld e r s b ein g n e ith e r o n la rg ed o r d im in is h e d ). O w n s th e
en tlro c a p ita l s to c k s o f th o C o lu m b u s D e la w a re & M a r io n E le c . R R . ($ 1 ,
0 0 0 ,0 0 0 ), th o M a r io n R y . , L t . & P o w e r C o . ($ 3 0 0 ,0 0 0 ) a n d th e C o lu m b u s
N o r th e r n R y . , P ow er & E q u ip m e n t C o . ($ 3 0 0 ,0 0 0 ). O w n s a n d op o ra te s
th o cen tr a l s ta tio n o le c tr lc lig h t a n d p o w e r bu sin oss In M a r io n , th o stre e t
ra ilw a ys in M a r io n a n d D e la w a re , a n d th e ln teru rba n r a ilro a d b etw een
C o lu m b u s , D ola w a ro a n d M a r io n . A ls o fu rn ish es e le c tr ic ity t o th o v il
lages o f P r o s p e c t , R a d n o r a n d G r e o n c a m p . O v e r 7 6 % o f th o ln teru rba n
tr a c k is on p r iv a t o rig h t o f w a y . H a s e n tra n c e t o co n tr o o f C o lu m b u s o v e r
L . C o ., 4 .0 9 m ile s .
tra ck s o f th o C o l. R y . , P .
are s a tis fa c to r y a n d co n ta in n o b u rd e n so m e re s trictio n s .
F nh e
ra c iss
&
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
STOCK A N D B O N D S —
C o m m o n $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )--------------- - - .............
$ 7 0 0 ,0 0 0 .......................
P r e f 7 % c u m $ 1 .0 0 0 .0 0 0 ( $ 1 0 0 ) ------Q -J
6 5 0 ,0 0 0 ---------------------F irs t & R e fu n d in g M t g e $7,-1 1917
5%
3 6 7 ,00 0
Ju n o 1937
5 0 0 ,0 0 0 _____________________ /C le v e la n d T r u s t C o ., T ru ste e .
U n d e rly in g
m o rtg a g e s
(see
5%
1 ,5 3 3 ,0 0 0 -------------------sep a ra te s ta te m e n ts b e l o w ) ____
is n o n -ta x a b le in O n to , N . Y . , N . H . a n d C o n n . R e d . a ll or
p a r t, at $ 11 5 a n d d lv s . A d d it io n a l p r e f. s t o c k c a n n o t b e issu ed w ith o u t
th o co n s e n t o f th o m a jo r it y o f th o p r e f. s t o c k , u n less th o n e t ea rn in g s a v a il
a b le fo r d iv s . th oreon a re d o u b le th o re q u ire m e n ts o n th o p r o f, s to c k Issued
a n d p r o p o s e d . N o s to c k h a v in g p r io r it y ca n b o a u t h . e x c e p t w ith co n se n t
o f 7 5 % o f p r e f. s t o c k .
— $ 1 ,5 3 3 ,0 0 0 o f th o 1st & R e f . M . b o n d s are ro se rv e d t o rotire
u n d e rly in g b o n d s .
E A R N I N G S .—
—
M a y 31 1 91 7 .......................... $ 5 6 3 ,9 0 5 $ 1 9 8 ,7 1 0 $ 9 5 ,0 0 0
$ 4 5 ,5 0 0 $ 5 8 ,21 0
J u n o 30 1 9 1 6 .......................... 4 9 0 ,1 5 9
185 ,21 0
............
............................
Ju n e 30 1 9 1 5 .......................... 4 7 9 ,5 8 3
165 .16 5
------------------ -------------R O A D , & c .— 57 m iles o f sin gle t r a c k e q u iv a le n t ; 28 c it y a n d 8 ln teru rba n
pa ssen ger c a r s , 4 c o m b in a tio n in te ru r b a n p a sson ger an d b a g g a g e ca rs,
4 freigh t an d oxpress ca rs , 3 fre ig h t b o x c a r tra ile rs, 18 fla t , d u m p a n d w ork
ca rs , an d 2 m o to r s n o w p lo w s . H as a c o m p le te e le ctric d is tr ib u tio n system
in M a r io n a n d a s tea m p o w o r s ta tio n a t S tr a t fo r d , c a p a c ity 2 ,8 0 0 k .w .,
a n d o n e a t M a r io n , c a p a c ity 1 ,7 5 0 k .w .
O F F I C E R S .— P re s . & G e n . M g r ., E ll M . W e s t : S e c ., H a r r y F . W e s t .
T r e a s . & A w l ., \V. H . D a v i d s o n — V . 104, p . 2 64 1 ; V . 105, p . 7 2 , 180, 1898;
V . 106, p . 715.
P f. sok
re t c
Bns
od.
Ya e d g
e r nin
(1)
Colum bus Delaware & Alarlon Electric R R .
F nh e
rac iss
first
Bns
o d.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
5
% I
IX
&
s k gfu d
inin n
Didns
iv e d.
Ya
er
Gos
r s.
(1K )
%
Nt. In ta.
e
t. x
IK
%
P f. D s S rp s
re iv. u lu.
CONCORD, N. H.
C O N C O R D S T R E E T R A I L W A Y .— A tro lle y ro a d ex te n d in g fr o m th e
cen tral w ards o f C o n c o r d t o P o n a c o o k . C o m p r is e d 12.71 m iles o f tr a c k .
In J u n e 1901 co n tr o l passed t o th e B o s to n & M a in e U R ., a n d in 1903 th e
N ew H a m p sh ire L egislatu re a u th o riz e d th e C o n c o r d & M o n tr e a l R R . .
w hich is leased t o th e B o sto n & M a in e , t o p u rc h a se th e p r o p e r t y a n d to
Issue s to c k a n d b o n d s t o p a y th e re fo r.
COOPERSTOW N,
N. Y .
SOUTHERN NEW YORK POWER & RAILW AY CORPORATION.
O R G A N I Z A T I O N .— I n c o r p . in N o w Y o r k in J u ly 1909 as th o O tsego &
H e rk im e r R R . , s u cce e d in g th e O n e o n ta & M o h a w k V a lle y R R . (V . 89,
p . 4 1 1 ;. N a m e ch a n g e d t o a b o v o in J u ly 1916. In 1917 a cq u ire d co n tr o l
o f th e C olliers L ig h t, H ea t & P o w e r C o ., D e p o s it E le c tr ic C o ., H a rtw ick
P o w e r C o . a n d S ou th ern N o w Y o r k P o w e r C o .
In a d d itio n t o o p e ra tin g an e le ctric in teru rba n ra ilro a d th o c o . serves
e le ctric lig h t, h e a t a n d p o w e r in 24 cities a n d to w n s w ith a p o p u la tio n in
oxcess o f 5 0 ,0 0 0 . T h e ra ilro a d
is p erp etu a l a n d oth ers are p er
p e tu a l o r e x te n d b e y o n d th e m a tu r ity o f th e b o n d s .
.— In 1916 tho p r o p e r t y , a fte r d e d u c tin g o v e r 8 1 ,0 0 0 ,0 0 0 for
d e p re cia tio n , plu s recen t co n s tr u c tio n , w as a p p ra ise d a t $ 2 ,4 5 0 ,0 0 0 .
I n A p ril 1918 a p p lie d t o th e N . Y . P . S . C o m n i. fo r a u th . t o ox o c u te a
m tg o . t o th o E q u ita b le T ru s t C o ., N . Y . , as tru stee, t o secure $ 5 ,0 0 0 ,0 0 0
6 % 10 -y e a r 1st M . b o n d s a n d t o issue im m e d ia te ly th ereu n d er $ 95 2 ,0 0 0
b o n d s in e xch a n g o fo r o u ts ta n d in g b o n d s a n d $ 4 8 ,0 0 0 a d d itio n a l u p on
th e a cq u isitio n o f a like a m o u n t o f th o ca p ita l s to c k o f th o S ou th ern N ow
Y o r k P ow er C o .
P roceeds r e c e iv e d b y th e la tte r a rc t o b o used in th o
a cq u is itio n o f b o n d s o f th o D o p o s it E le c tr ic C o .
R e m a in in g b o n d s t o bo
issued fr o m tim e t o tim e fo r a cq u isitio n s a n d exte n sio n s.
V . 106, p . 1578.
T h o p re f. s to c k w as b ro u g h t o u t in F o b . 1918 a t p a r w ith a bon u s o f
2 0 % in c o m m o n s to c k .
V . 106, p . 7 15 , 8 22 .
STOCK A N D BON DS—
C o m m o n $ 77 4 ,9 0 0 ($ 1 0 0 )-------------------------- ---------$ 77 4 ,9 0 0 .......................
P r e f c u m $ 50 0 ,0 0 0 ($ 1 0 0 )- - ...............
7 Q -J
5 0 0 ,0 0 0 A p r '1 8 ,
F irst M o r tg a g e S 5 ,0 0 0 , 0 0 0 / ------6%
(? )
------------------( 8 1 , 0 0 0 ; __________________ c \ I n t . a t E q u ita b lo I r u s t C o ., N . Y . , T ru steo.
.— O f th o p r e f. s to c k r e p o rte d o u ts ta n d in g , $ 12 5 ,0 0 0 is h eld b y the
E q u ita b le T ru s t C o . o f N . Y . , w h ich has a greed t o w a iv e all d iv s . th ereon
a n d also n o t t o sell a n y p a rt o f it u n til earnings equal t o 2 tim es th e d lv .
req u irem en ts on th e to ta l a m o u n t o u ts ta n d in g . I f s u ch earnings d o n o t
a ccr u o b e fo r e J an . 1 1923 th o tru st c o . agreos t o su rren der this s to c k t o tho
c o . fo r ca n c e lla tio n , w ith o u t re c e iv in g a n y c o m p e n s a tio n th e re fo r. A d d i
tio n a l p r e f. s to c k m a y be issued o n ly w h en n e t earnings a p p lica b le t o p r e f.
Oevtin. Oeaog. Bnn re uP,fo folaoe
pre u pintine -Adin qire iv. B Cc.
n
r- r m
r a g rcm o . t. f.D a n Vlutio
e ne
aa n
In teres t,d u e N o v . 1 1912 w as p a id M a y 1 1913; s u b se q u e n t c o u p o n s t o and
In cl. N o v . 1 1917 w ero p a id 6 m o n th s a fte r th e y m a tu r e d . M a y 1918
c o u p o n w ill p r o b a b ly b e p a id N o v . 1 1918.
1st
5 s.— R u d o lp h K le y b o lt e , C h a ir m a n ; W m . R . C r a v e n
F ra n k C . D e e r in g , A rth u r B . W e lls , E d . E . N o w m a n a n d J o h n T . T y le r .
O ffic e s , 18 E . 2 4 th S t ., C in c in n a ti, a n d R o o m 1304, 60 B ’ w a y , N . Y .
D e p o s ita r y . C lev ela n d T r u s t C o . V . 103, p . 1 687, 1792.
In O c t. 1917 F ln ck e , B a r g e rt & C o ., P h lla ., o ffe re d t o p a y $ 85 0 cash
o e r $ 1,000 b o n d c o n d itio n e d o n ly u p o n th o a c c e p ta n c e o r th o o ffe r b y
h o ld e rs o f a t least $ 5 0 1 ,0 0 0 b o n d s In o rd e r t o e n a b le th em t o r e m o v e tho
Cmittefo M
om e r .
F nh e
rac iss
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
fra c is
nh e
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
IK
Sc
tok
m ay,
ELECTRIC RAILWAYS
1918.1
35
B o n d s .— Of the f ir s t c o n s o lid a te d b o n d s of 1892 of the O. N . & O. R y .,
$150,000 are deposited with the trustee to retire underlying mortgage
bonds. The perpetual charters o f constituent companies are kept alive,
and their capital stocks are deposited with the trustee as collateral for the
first consols. Interest on thoso bonds is payable at tho National Bank of
Commerco. New York, First National Bank, Cincinnati, and German Nat.
Bank, Covington. The Union Light, Heat & Power Co. notes were Issued
to refund a like amount of 1st M . 4% bonds due M ay 1 1918 which were
extended to May 1 1920 and deposited under tho notes. The notes are
callable, all or in part, on any int. date upon 30 days’ notice, at 10044 and
int., prior to Feb. 15 1919 and at 100 and int. thereafter. The Columoia
Gas & Elec. Co. guar., p. and i., the 1st M . bonds of the Union Lt.. Ht.
& Pow. Co. and the notes secured thereby.
V. 106, p. 827. Additional
U. L. II. & P. Co. bonds of 1915 may ne issued for additions and better
ments; the Col. Gas & Elec. Co. guarantees a sink, fund to retire all bonds
at or before maturity. V. 101, p. 694. Licking River bonds are guaran
teed by Columbia Gas & Elec. Co. and the South Covington & Cin.St. R y.
D IVIDEN DS.— On pref. 444% is being paid (144% quar.). On com
mon stock first div. of 44 % was paid July 15 1907 and
% Oct. 15 1907. In
1908. 344%; in 1909, 344%: in 1910, 444%; in 1911, 444%; in 1912, 544% .
In 1913, 544%: In 1914 and since, 6% per annum.
ROAD.— Connects Cincinnati, Covington, Newport, Bellevue, Dayton,
c o r n in g T n . y .
Clifton, Southgate, Fort Thomas, Fort Mitchell, West Covington and
Ludlow. Total In operation, 68 miles; laid with 80-lb. Johnston girder
CORNINQ & PAINTED POST STREET R Y . - A trolley road.
ORGANIZATION.— Incorporated Doc. 11, 1894. Commenced opera and 72-Ib. “ T ” rails.
OFFICERS.— Pres., James M . nutton: Sec. & Treas., George M .
tion Nov. 1 1895. Control changed hands in 1904. V . 80, p. 162.
Abbott.— V. 105, p. 1617; V. 106, p. 821, 924, 1688.
STOCK AN D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $100,000 (8100)....................
.............
$100,000 1905-06,4%
1st mortgage. $100.000........... 1896
5 J-J
100,000 Jan 1 1936
DALLAS, T E X A S.
The bonds fell due originally in 1916 but were extended for 20 years.
DA L L A S R A I L W A Y C O.
EARNINGS.— For cal. years:
O R G A N I Z A T I O N . — I n c o r p . in T e x a s o n S e p t . 2 2 1 9 1 7 t o t a k e o v e r a n d
divs. are at least twice the prof, stock dlv. requirements . Prer. stock i
free of normal Federal income tax and is tax exempt In N. Y . Stato. V
106 p 822
EARNINGS.— For year ending Dec. 31 1917 (incl. So. N . Y . Pow. C o.),
gross, 8377,200; net, after taxes, 8103,955. In 1916, gross, 8262,533;
net, after taxes, 877,996.
ROAD.— Operates 62.04 miles main and 4.63 milos second track, 150
miles being on private right of way, between Oneonta, Cooperstown, Rich
field Springs and Mohawk, from which point it operates over the N . Y.
Stato ltys. to Utica, 15.10 miles, and to Herkimor, 1.40 milos. Total
operated, 83.17 miles. Rails 60 to 70 lbs.; 22 passenger and 5 freight cars;
1 locomotive; 4 snow plows; 2 service and 26 other care. Has a 2,500 k.w.
hydro-electric power plant, a combined 500 k.w. hydro-electric and steam
plant and 2 steam plants with a combined capacity of 1,750 k.w. An addi
tional 750 k.w. steam turbine has been ordered. Also owns 70 miles of
transmission lines. A now transmission lino from Colliers to Walton and
Deposit is planned which would enablo tho co. to shut down the 250 k.w.
steam plant at Walton.
OFFICERS.— Pres., Jos. B. Mayer; V.-P. & Gen. M gr., C. L. Stone;
Sec., James L. do Rosset; Treas., II. R. Skirving.— V. 106, p. 715, 822, 1578.
N e t (a fte r O ther
In terest,
Y ear—
G ross.
T a x e s ) . I n c o m e . R e n ts , A c .
B a la n c e .
1917...................................... 873,712 826,645 $875 $10,703 sur.$16,818
1 9 16...................................... 63,440
18.355
716
10.697 sur. 8.375
ROAD.— Owns 5.9 miles of track from Corning to Painted Post; 23 cars.
OFFICERS.— Pres., J. L. Greatsinger, Elmira, N. Y .; V .-P ., David
Bosnian; Sec.. J. E. Packer, New York; Treas., D . W. Bigoney, Now York;
Coinpt.. C. P. Crawford. New York.— V. 80, p. 62.
C O R TLAN D , N. Y .
CORTLAND COUNTY TR AC T IO N .— Trolley.
ORGANIZATION.— Is a reorganization on June 22 1901 of the Cortland
Sc Homer Traction, sold at foreclosure on Apr. 23 1901.
In June 1905 ab
sorbed tho Cortland & Homer Electric C o., previously controlled. Fur
nishes light to the cities of Homer and Cortland and to tho public. Carries
coal and freight as well as passengers.
.
STOCK AN D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, com, $320,000 ( $ 1 0 0 ) - - -------- ........
$320,000 ....................
r 1901 4 g A-O
180,000 April 1 1921
First mtge, $180,000 ($500), ICounty Sav. Bk. & Tr. C o., Scranton, Pa..
K0ld
__________ c*( Trustee. Int. at co. s offlco. No sink. fd.
I Can be called on 6 months’ notice.
New mortgage, $500,000, g f 1905 5 g F-A
320.000 Aug 1 1935
($500 and $1,000)_______c [interest at Empire Tr. C o., N . Y ., Trustee.
1st & ref mtge, $2,000,000— I 1907 5 J-D
105,000 Juno 1 1957
lin t, at Equitable T r. C o., N . Y ., Trustee.
B o n d s . — Of the $500,000 issue of 1905, $180,000 are reserved to retire
prior Hens. They are subject to call at 105.
ROAD.— Operates 16.18 miles o f track (not Including sidings and turn
outs) between Cortland, Homer, Little York and Preble, and between
Cortland and McGrawvillo. Has 33 cars.
EARNINGS.— For fiscal year ending Dec. 31 1917, not, from operation,
$25,704; oth. inc. (lighting dept.), $12,222; bond, &c., int., $28,680;
surplus, $9,246.
OFFICERS.— Pres., Edwin D uffey;’ V.-Ps., D . W . Van Iloesen and
E. H. Brower; Treas. & Gen. M gr., G. H. Garrison.— V. 81, p. 507.
C O V IN G T O N , K Y .
o p e r a t e t h e e l e c t r ic r a i l w a y p r o p e r t i e s f o r m e r l y o w n e d b y t h e D a l l a s E l e c .
L t . & P o w . C o . (s e e D a l l a s E l e c t r i c C o . in t h i s S e c t i o n f o r S e p t . 1 9 1 7 ) u n d e r
t h e “ s e r v i c e - a t - c o s t ” fr a n c h is e a p p r o v e d b y t h e c i t i z e n s o f D a l l a s a t a n
e l e c t io n h e ld A p r i l 3 1 9 1 7 .
F o r m a l a c c e p t a n c e o f t h o f r a n c h i s e w a s f ile d
S e p t. 2 7 1 9 1 7 .
V . 105, p . 1419.
T h e lig h tin g p r o p e r tie s o f t h e D a lla s
E le c t r ic L t . & P o w . C o . w e r e ta k e n o v e r b y t h e D a lla s P o w e r & L ig h t C o .,
w h ic h se e b e lo w .
T h e c o m p a n y le a s e s , w i t h t h e r i g h t t o p u r c h a s e f o r $ 2 , 0 0 0 , 0 0 0 , t h e Oak
C l i f f lin e s o f t h o N o r t h e r n T e x a s T r a c t i o n C o . a t a n a n n u a l r e n t a l in c r e a s in g
f r o m $ 1 1 5 ,0 0 0 fo r t h e f i r s t t h r e e y e a r s t o $ 1 5 0 ,0 0 0 t h e s e v e n t h y e a r and
th e re a fte r .
O n S e p t. 3 0 1 9 1 7 p u rc h a se d th e D a lla s In te r u r b a n T e r m in a l A s s o c ia
t i o n , w h ic h h a s a m o d e r n f i r e p r o o f e i g h t -s t o r y p a s s e n g e r t e r m i n a l and
o f f i c e b u i l d i n g in t h e b u s in e s s d i s t r i c t o f D a l l a s , a n d a s s u m e d i t s n o t e s .
T h e t e r m i n a l f a c ilit ie s h a v e b e e n le a s e d f o r 2 0 y e a r s t o t h e t h r e e i n t e r u r n a n
lin e ; e n t e r in g D a l l a s .
T h e t e r m in a l w a s o p e n e d f o r s e r v i c e S e p t . 1 1 9 1 6 .
F r a n c h is e .— T h e fr a n c h is e p e r m it s a r e t u r n o f 7 % o n t h e p r o p e r t y v a l u e ,
fi x e d a t $ 7 , 5 6 1 , 7 4 9 , a n d p r o v id e s f o r : (a ) a n i n t e r u r b a n n o t le ss t h a n 3 0
m il o s in l e n g t h , f r o m s o m e o u t s i d e p o i n t i n t o D a l l a s , w o r k t o b e b e g u n
w it h i n s i x m o n t h s f r o m t h e t i m e o f o p e r a t i o n u n d e r t h e o r d i n a n c e , a n d lin e
t o b e p u t in a c t u a l s e r v ic e w it h in 1 8 m o n t h s f r o m t h a t d a t e u n le s s p r e v e n t e d
b y c a u s e s w h ic h c o u ld n o t h a v e b e e n r e a s o n a b l y a n t i c i p a t e d ; (6 ) a n in t e r
u r b a n n o t le ss t h a n 3 0 m ile s in le n g t h f r o m s o m e o u t s i d e p o i n t i n t o D a l l a s ,
w o r k t o b e g in w it h in s i x m o n t h s f r o m t h e t i m e w h e n t h e g r a s s e a r n in g s o f
t h e lin e s e a s t o f t h e T r i n i t y R i v e r , e x c lu d i n g i n t e r u r b a n s , s h a l l b e a r t h e
s a m e p r o p o r t i o n t o t h e t h e n p r o p e r t y v a l u e a s d i d t h e g r o s s e a r n in g s t o
p r o p e r t y v a lu o in 1 9 1 3 : (c) a n e x p e n d i t u r e o f $ 1 , 0 0 0 , 0 0 0 in a l t e r i n g , r e
c o n s t r u c t i n g , r e a r r a n g in g a n d i m p r o v i n g t h e p r o p e r t ie s o r i g i n a l l y p u t in
o p e r a t io n b y t h e c o m p a n y , t h e c i t y t o r e c e iv e $ 2 0 0 ,0 0 0 d a m a g e s fo r fa ilu r e
t o c o m p l y w i t h t h o a g r e e m e n t (s e e p r o g r a m o f i m p r o v e m e n t s , & c . , in
V . 1 0 5 , p . 2 2 7 1 ) ; Id) F a r e s — ( 1 ) c a s h f a r e 5 c . 2 2 t i c k e t s fo r $ 1 ; ( 2 ) c a s h fa r e
5 c . , 6 t i c k e t s f o r 2 5 c . ; ( 3 ) c a s h fa r e 5 c . , 7 t i c k e t s f o r 2 5 c . ; ( 4 ) c a s h f a r e 5 c . ,
8 t i c k e t s f o r 2 £ c . ; s a id s c h e d u le s t o b e a p p l i e d a s f o l l o w s : W h e n e v e r a f t e r
p a y in g o r p r o v id in g fo r th o retu rn o n p r o p e r ty v a lu e , th o r e p a ir , m a in te n
a n c e a n d d e p r e c ia t io n r e s e r v e a n d t h e a c c i d e n t r e s e r v e a r e n o t le s s t h a n
n o r m a l a n d t h e s u r p lu s r e s e r v e e x c e e d s n o r m a l b y 5 0 % , t h e fa r e s s h a ll b e
r e d u c e d t o t h e n e x t lo w e r s c h e d u le t h a n t h e o n e t h e n in f o r c e , a n d i f a ft e r
o p e r a t i n g s i x m o n t h s t h e s u r p l u s r e s e r v e e x c e e d s n o r m a l b y 3 0 % , t h e fa r e s
s h a ll a g a i n b o r e d u c e d t o t h e n e x t lo w e r s c h e d u l e , a n d f u r t h e r r e d u c t io n s
s h a ll b e m a d e a t s i x m o n t h s i n t e r v a l s u n t i l t h e s u r p l u s r e s e r v e s h a ll a m o u n t
t o le ss t h a n 1 0 % in e x c e s s o f n o r m a l .
W h e n e v e r t h e s u r p l u s r e s e r v e is
r e d u c e d t o o n e -h a l f o f n o r m a l , t h e g r a n t e e m a y a t s i x m o n t h s i n t e r v a ls
p u t in fo r c e t h e n e x t h ig h e r s c h e d u lo t h a n t h o o n e t h e n in fo r c e u n t i l t h e
s u r p lu s r e s e r v e e q u a ls 9 0 % o f n o r m a l .
C h ild r e n u n d e r 12 a n d s t u d e n ts
u n d e r 1 7 y e a r s o f a g e , s h a ll b e c a r r ie d f o r h a l f - f a r e .
F o r fu r t h e r d e t a ils
see V . 1 0 5 , p . 14 19 .
.
iVages.— O n F e b . 1 1 9 1 8 in c r e a s e d t h e w a g e s o f t r a i n m e n b y 2 c e n t s p e r
hour.
I n a d d i t i o n t o t h i s in c r e a s e t h e m e n a r e t o r e c e i v e 44 o f w h a t e v e r
s u m t h e y m a y s a v e o u t o f a n a n n u a l a p p r o p r ia tio n o f 4 4 4 % o f g ro ss r e
c e ip ts fo r a c c id e n ts .
CINCINNATI NEWPORT & COVINQTON L IG H T & TRACTION
CO.— A trolley road.
ORGANIZATION.— Incorporated under the laws o f New Jersey on
March 11 1902 and purchased all the stock o f tho Union Light, Heat &
Power Co. of Covington and of the Cincinnati Newport & Covington R a il
w ay.
V. 74, p. 676. Tho latter was organized in 1892 to buy up and con
solidate all tho roads on the Kentucky side o f tho river opposite Cincinnati.
L e a s e .— The Union Lt., Ht. & Power Co. and the Cine. Nowp. & Oov.
R y. (both controlled through stock ownership by tho Cine. Nowp. & Cov.
Lt. & Tr.) were leased from Apr. 1 1907 to Columbia Gas & Electric Co.
(incorporated in Ohio) for 45 years. The lessee guarantees interest on
STOCK A N D BOND S—
D a te.
In te r e s t.
O u ts ta n d in g .
M a tu r ity.
bonds and 444 % per annum on preferred stock. On common, dividends are
-------------------$ 2 , 2 5 0 , 0 0 0
------------------to be 3% for first year, increasing y2 % each year until 6% is reached, which C o m m o n , $ 2 , 2 5 0 , 0 0 0 ( S lO O ) ---------------------------------5 0 0 ,0 0 0
------------------is to bo tho rate thereafter. See V. 84, p. 449, 930; also terms in V. 84. p. P r e fe r r e d $ 5 0 0 ,0 0 0 7 % ( $ 1 0 0 ) . -------a
ec
M
o e ] 1
0
Ja
21 1
1489, under Columbia Gas & Electric. Under agreement ratified in July D a$l ll ,0s0 0 E l0 0 ( ST e r m S 1 .0 CnO )tc *s.\ I n 9 .1 6a t S6 aJ -J S t . T r . C 7o5. .0 , B 0 0 t o n n T r u s t9e2e1.
,0
500&
t
t te
os
,
1915 tho exts. and add'ns to Union Lt., Ht. & P. Co.'s property are to be
6%
2 ,6 0 0 ,0 0 0 A p ril 1 1 9 2 2
paid for by the issue of now 50-year 5% bonds (see below) instead of by U n s e c u r e d n o t e s __________________ 1 9 1 7
S to c k .— P r e f . s t o c k is e n t i t l e d t o 7 % n o n - c u m . d i v s . u p t o S e p t . 3 0 1 9 2 0 .
salo of stock of tho Cincinnati company as provided under tho old agree
a n d to 7 % c u m . d iv s . th e re a fte r .
R e d . a t 1 1 0 a n d d iv s . o n 6 0 d a y n o tic e .
ment. V. 101, p. 694.
•
Notes.— T h e D a l l a s T e r m . M . n o t e s h a v e b e e n a s s u m e d b y t h e D a l l a s
The controlled Cincinnati Covington & Erlanger St. R y., which was in. Co
R
a
a
y t
1
n .
corp. Sept. 1899 with $250,000 stock (shares $50), to build an extension to R yE A R .N I N e dS. . a s F o w h o l e y etaa n1 9 1 i7m e ra ts s1 0$ 1 a4n4d4 ,i0 0t 4 ; n e t , S 2 7 9 . 4 8 5 . I n
G
—
r c a l.
r
, g o ,
,
Erlanger, 7 4f miles (about 3 miles completed) has also been leased to the
1 9 1 6 . g r o ss, $ 1 ,3 1 3 ,4 4 4 : n e t. $ 2 8 5 ,6 0 3 .
^
Columbia Gas & Electric.
R O A D . — O w n s a n d o p e r a t e s 6 9 . 2 m i l e s o f t r a c k in t h e c i t y o f D a l l a s a n d
In 1914 tho Licking River Bridge Co. Issued $185,000 1st M . bonds to
s u b u r b s in a d d i t i o n t o t h e le a s e d O a k C l i f f l i n e s . 2 3 7 c a r e . S t a n d a r d g a u g e .
cover cost o f tho 11th St. bridge between Covington and Newport, which
O F F I C E R S . — C h a i r m a n o f B o a r d , C . W . H o b s o n ; P r e s ., J . F . S t r i c k
was completed April 1 1915.
la n d ; V . - P ’s . , I I . M . H u g h e s , W . B . H e a d a n d C . B . H u m p h r e y ; S e c .F r a n c h is e D e c i s i o n s .— On Oct. 19 1914 and N ov. 17 1915 Judge Cochran
T r e a s . J . B . W a l k e r ; G e n . M g r . , R . M e r i w e t h e r .— V . 1 0 5 , p . 1 4 1 9 . 1 5 2 2 ,
In the U. S. District Court hold that tho franchise granted by the City
_________
,
of Covington in 1882 to the South Covington & Cincinnati Street Ry. 1 6 1 7 , 1 7 0 7 , 2 2 7 1 .
was In effect perpotual. See V. 99. p. 1214. On Jan. 5 1915 tho U. S.
DA L L A S PO W E R & L I G H T C O .
^
Supremo Court declared void, as an unlawful Interference with Inter
O R G A N I Z A T I O N . — I n c o r p . in T e x a s o n S e p t . 2 2 1 9 1 7 t o t a k e o v e r a n d
State commerce, the section o f tho Covington street railway ordinance
o p e r a t e t h e li g h t a n d p o w e r p r o p e r t i e s o f t h o D a l l a s E l e c t r i c L i g h t & P o w e r
relating to overcrowding. Seo details in V. 100, p. 139. In Nov. 1916
o
er
c
t o lle d
D
l
ec i
o.
S
hi
t
tho voters of Nowport rejected tho 20-year franchise granted by tho city C 9 1. 7f)o r m d e l y t h o nfrra n c h isb ya p parloa s dE lb y ttrh c C it iz e n( s eoef tD asl l s e c aito n nf oerl eS e p t .
un
r
e
e
ve
o c
as
a
c tio n
in July 1916. On Sept. 28 1917 Mayor Puchta approved a franchise granted 1
h e ld A p r i l 3 1 9 1 7 a n d f o r m a l l y a c c e p t e d o n S e p t . 2 7 1 9 1 7 .
T e
l
by tho City Council of Cincinnati which in tho case of so-called "temporary” p r o p e r t ie s o f t h e D a l l a s E l e c . L . & P . C o . w e r e t a k e n o v e r b y h h e r a iawl a y
t
D l as
Covington and Newport routes is to remain in force until Jan. 1 1919 and
.
o
w
a ov .
,
4
.
until 24 mos. after ordinance takes effect, respectively. In tho case of R yD oC s . ,s u bh itc h tsie el l y b a ll e t h e V e. l e1c0t 5 ic p l.i g1h t2 3 .n d p o w e r ,b u s in e s s ,in _ a l l a s ,
e
s an a
r
a
D
other routes tho grant will remain in forco for 25 years after tho date tho
s e r v in g a p o p u la t io n o f a b o u t 1 4 0 ,0 0 0 .
ordinance takes effect. For terms seo V. 105, p. 1617.
Franchise.— T h e fr a n c h is e p r o v i d e s f o r a n e x p e n d i t u r e o f $ 2 , 0 0 0 , 0 0 0 in
On Nov. 19 1917 Federal Judgo A. M . Cochran Issued a temporary In a l
n
re
r
n
n
ro i
i r
ti
junction restraining tho agents or employees of the city of Nowport from s ytsetr im g ,, p o c oen s tp lu c ttis ga nadn d r r e a r r a nsg inngd ain dm iam pn g va n g i ttih e s da s td i b u t en g
e s
n
a
ki
d
x
interfering with tho operation of tho So. Cov. & Cin. St. R y. and from s io n s $ 1 , 0 0w , 0r0 0 a o b e e x pp nodpeedr t ie it h i n 1 8 m o n t h s a f td r o n p t . n3 0 e 1 9 1n
0
t
e
w
e
Se
7,
tearing up any more tracks. Thoso which had been torn up were at once a n d $ 1 , 0 0 0 , 0 0 0 w it h in t h e s u c c e e d in g 4 2 m o n t h s . F u r t h e r p r o v i s i o n s c f
replaced b y tho co. and operations
resumed.Tho troubloarose out of o fr a n c h is e a r e (1 ) a d e f i n i t e " p r o p e r t y v a l u e ” o n w h i c h t h e c o . is a u t h o r
th
tho franchise litigation between the co. and tho city.
.
u
e
On Apr. 15 1918 a decision was handed down in the U. S. Supremo Court iz e d t obe a r n 8 % i p e r a n n u m a e T h i saa u t h . hr a t e o fe r e t a r nmis in c r a a s e d a u t o mia t
l
s
i
i
n
h
u
t
o
in favor of tho So. Cov. & Cin. St. Ry. Co., in the action brought by tho i c ar l y u cye d ,p eacn fd e d o p e r cre n ty g iss dfe c r ed swd ein , t u n dm r xcie r t am r c o e df i tr oli g h t t n g
is
ed
c n ve sel
a e
f
e
in
n
i n s,
he
city of Covington to oust the co. from its streets. V. 106, p. 1688.
m a x i m u m r a t e f o r lig h t i n g is i n c r e a s e d .
( 2 ) T h o a g r e e d " p r o p e r t y v a lu e
STOCK AND BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
o n S e p t . 3 0 1 9 1 7 w a s p la c e d a t a p p r o x i m a t e l y $ 4 , 8 5 0 , 0 0 0 p lu s a ll s u b s e q u e n t
Common. 3= ,000,000 ($100).............
Q-J
$5,000,000 A p r ’ 18.144 a d m i t t e d a d d i t i o n s a n d i m p r o v e m e n t s , in c lu d i n g t h e p r o c e e d s o f t h e
Pref. 444% non-cum. $5,-1
8 1 , 0 0 0 , 0 0 0 n o t e s s h o w n b e l o w , t h e r e w ill b e a " p r o p e r t y v a l u e ” o f a b o u t
000.000 ($100).....................J ____
444 Q-J
4,600.000 A p r ’ 18, 144 $ 5 , 8 0 0 , 0 0 0 . (3 ) T h e r a t e s f o r s e r v i c e a r e u n d e r t h e j u r is d ic t io n o f t h e c i t y
So Cov&Cbacons M $500,000/ 1892
6 g J-J
150,000 Jan 1 1932
gold ($500, $1,000)-----------1Covington Sav Bank & Tr. C o., Trustee.
C in c in n a ti N e w p o r t A C o v in g to n —
1st consol mtge, gold. $3,-/ 1892
5 g J-J
2.850,000 July 1 1922
000.000 ($1,000)— c*&r— iFarmors’ Loan & T r. Co. of N . Y ., Trustee.
2d mortgage, $1,000,000. g) 1896
5 g J-J
859,000 July 11922
($1,000 each)___________ clFarmors’ Loan & Trust C o., N . Y ., Trustee.
U n io n L ig h t, H e a t A P o w e r C o .—
„
I 1901
4 g M -N Seo text
M ay 1 1920
1st mtge (closed), gold ($100.j Int. at Nat. Bank of Commerce, N . Y .; First
$500 & $1.000).............c&r| National Bank, Cincinnati, or at German
I National Bank. Covington.
2-vr 1st M notes SI.560,900[ 1918 0 g F-A15
1,560,900 Fob 15 1920
(SlOO, $500 & $1,009) g, Int. at Cent Tr. Co., Cin., Trustee, or at
g u a r _________________ t f - l Bankers Trust Co., N. Y.
New mtge ($5,000.000)........... 1915
5%
320,000
1965
L ick'lug^ m vV Ii^ C o 1st M\ 1914
$185,000 guar (see text) s fj
6 M-S
185.000
1939
a u t h o r i t i e s , b u t t h e m a x i m u m l i g h t i n g r a t e c a n n o t r e m a in lo w e r t h a n
6 c e n t s p e r k . w . h o u r u n le s s t h e c o . is e a r n in g t h e fu l l r a t e o f r e t u r n o n t h e
" p r o p e r t y v a l u e " a n d in a d d i t i o n is m a i n t a i n i n g o u t o f e a r n i n g s : (a) A
“ s u r p lu s r e s e r v e ” o f 8 % o n t h e " p r o p e r t y v a l u e ;” (6 ) A n “ a c c i d e n t r e s e r v e
o f 2 4 4 % o f t h e g r o s s r e c e ip t s ; (c) A " m a i n t e n a n c e a n d d e p r e c i a t i o n r e s e r v e ’
o f 6 % o f th e "p r o p e r t y v a lu e .”
( 4 ; T h e t e r m o f t h e f r a n c h i s e is t e n y e a r s
f r o m A p r i l 3 1 9 1 7 , a n d c o n t i n u e s t h e r e a f t e r u n le s s a n d u n t i l t h e c i t y o r it s
lic e n s e e s h a ll p u r c h a s e t h e p r o p e r t y , in w h i c h e v e n t t h e c i t j " s h a ll p a y t h e
c o . a t l e a s t 1 0 5 % , o r t h e c i t y ’s lic e n s e e a t l e a s t a t l e a s t 1 1 0 % , o f t h e t h e n
“ p r o p e r ty v a lu e .”
(5 ) P ro v is io n fo r a r b itr a tio n o f d is p u te d m a tte r s
b etw e e n th e c ity an d th e c o m p a n y .
STOCK A N D BONDS—
D a le .
In te r e s t.
O u ts ta n d in g .
M a tu r ity.
- - - - - - - - 3 2 ,0 0 0 ,0 0 0
- - - - - - -
S t o c k , S 2 , 0 0 0 , 0 0 0 (S lO O ) -------- -------------1 s t M n o t e s , se r ie s “ A ” ( $ 5 0 0 ( 1 9 1 8
7 g F -A
1 ,0 0 0 .0 0 0 F e b 1 1 9 2 0
a n d $ 1 , 0 0 0 ) g _______________c * \ I n t . a t O l d C o l o n y T r . C o . , B o a o n , T r u s t e e
U n s e c u r e d n o t e s __________________ 1 9 1 7
6%
4 ,0 0 0 ,0 0 0 A p ril 1 1 9 2 2
T h e $ 4 , 0 0 0 , 0 0 0 u n s e c u r e d n o t e s a n d $ 2 , 0 0 0 , 0 0 0 s t o c k ( e x c e p t d ir e c t o r s
q u a lify in g sh a re s) are d e p o s ite d u n d e r t h e c o ll. t r . M . , d u e A p r . 1 1 9 2 2
o f th e D a lla s E le c tr ic C o r p o r a tio n , w h ic h se e a b o v e .
36
ELECTRIC RAILWAYS
EARNS.— C a l. Y e a r s —
1917.
1916.
1915.
1914.
Gross earnings------------ *$1,267,922 $1,143,065 $1,030,317 $1,052,294
*678,708
609.705
544,475
477,227
Net earnings...................
♦The present co. began operations Oct. I 1917.
N o t e s . — Prior to April 1 1922 int. on the $4,000,000 unsecured notes is
payablo only if earned, but any unpaid accrued int. thereon, together with
the prin., will bo payablo in full on April l 1922. The 1st M . notes wero
issued to fulfill franchise requirements. They aro a first mtge. on all the
company’s properties and franchises. The auth. amount o f notes is
$2,000,000 but may be increased to $2,200,000 on consent of board of
commissioners, or other city authority. Tho remaining $1,000,000 of
the authorized notes may bo issued in subsequent series having different
interest rates and different maturities but not to mature earlier than
Feb. 1 1920. They may bo issued only to increase “ property value" and
only when the net earnings for the preceding 12 mos. havo been at least
double the annual interest charges on the 1st M . notes outstanding and
those proposed to bo issued. Callable as a wholo on 30 days’ notice, at
101 and int. to and incl. Feb. 1 1919, and at 10044 and int. thereafter.
V. 106, p. 824. The entire outstanding debt secured by a lien on tho com
pany’s property may never exceed in tho aggregate 85% of the then - prop
erty value.
P R O PE R TY.— Power station capacity, 18,200 k. w. Has over 361
miles o f distributing lines and over 24,693 connections with customers.
O F F IC E R S— Pres., J. F. Strickland; V.-Ps., W . B. Hoad, H. P.
Gibnoy and E. W . Hill; V.-P. & Gen. M gr., Fred. M . Lege, Jr.; Sec. &
Treas., C. E. Calder; Asst. Soc.-Treas., J. C. Thompson and C. L. Cox.
M a n a g e m e n t . — Operations are supervised by Electric Bond & Share Co.
— V. 105, p. 1423, 1524, 1620; V. 106. p. 1717, 824.
T E X A S ELECTRIC R A IL W A Y .
ORGAN IZATION .— Incorp. in Texas July 5 1916 and Is a consolida
tion or the Texas Traction Co. and Southern Traction Co. (see V. 104. p.
362, 660), comprising a modern, high-speed electric interurban railway sys
tem serving a number of cities and towns In Texas, in and adjacont to the
"Black Waxy Belt.” Including Dallas, Waco, Denison, Sherman, Corsi
cana, Waxahachie and McKinney. Also owns and operates tho local
•treet railway systems in all or these cities except Dallas. Prosent estimated
population connected and served, 250,000. Leases for 20 years from Dec.
17 1915 the terminal facilities of the Dallas Interurban Term. Assn., which
see under Dallas R y. above. Interurban lines are located on private rightof-way; city franchises are satisfactory, and. in tho opinion o f counsel with
two unimportant exceptions, extend well boyond 1947. Enters Dalals
over tracks o f tho Dallas Railway Co. under long term contract.
F a ^ e I n c r e a s e .— I n N o v . 1 9 1 7 t h e c o m p a n y a n n o u n c e d a n in c r e a s e in
p a s s e n g e r r a t e s f r o m a b o u t 2 4 4 c o n t s t o a b o u t 2% c e n t s p e r m il o t o c o v e r
F e d e r a l t a x e s a n d in c r e a s e d c o s t s o f o p e r a t i o n .
S tr ik e . — A strike on this co’s lines was begun Mar. 9 1918 resulting in a
goneral sympathetic strike in Waco. On Apr. 25 1918 tho sympathetic
striko was called off but tho street railway striko had not boons ettlcd up
to that date.
STOCK AN D BONDS— D a t e .
In terest.
O u ts ta n d in g .
M a tu r ity
Com stock $6,000,000 ($100)...........
....... ..........$6,000,000
ls t p f7 % cum $1,500,000($100)_______
Q-J
700,000 Apr ’ 18", I M
2d pref stock $3,000,0 00($1 00)-----Q-F
3,000,000 M ay 18,144
1st & ref Mtge gold ($500 Sc\ 1917 5 g J-J
5,482,000 Jan 1 1947
$1,000)------------------- c*ntf|Harrls Trust & Sav, Bank, Chicago, Trus.
Cony debentures $3,000,0001 1917 0 g J-J
2.160,000 Jan 1 1942
($1,000 and $500)------c*& r/lnt. at St. Louis Un. Tr. C o., trus., or N. Y.
Texas Traction 1st M sink fdl 1907 5 g J-J
1,304,000 Jan 11937
$3,000,000 ($l,000)gc*&rtf tint. at Old Colony Trust C o., Boston, Trus.
Den Sc Shor first mortgage,/ 1902
5 J-J
151.000 July 1 1927
5350,000 ($1,000)---- c* tf[In t. at Illinois Tr. Sc Sav. Bk., Chic., Trus.
P r e fe r r e d S to ck . — Remaining 1st prof, stock is held In treasury.
Red. on
any div. date after Jan. 1 1922 at 10745 and div. on 30 days’ nottco. Tho 2d
peef. stock is callable on any div. date on 30 days' notice at 107>4 and div.
P o n d s . — Additional 1st & ref. bonds may be Issued for only 75% of the
cost of extensions, &c., provided not earnings aro twice tho total annual
Interest charge, Including bonds applied for. In addl ion to ordinary re
serves ror porsonal injuries and damages, $75,000 bond i . re provided usable
for this sole purpose. Provision Is also made for refundi i ; underlying bonds
A special trust fund for malnt. and renowais is provide 1 •ut o f gross oarnIngs as follows; 1917. 11%; 1918. 12%; 1919, 13%: 1920. 14%; 1921 and
thereafter, 15%. Any part not so used may bo expended for exto., &c.,
or for the redemption or any outstanding bonds. Beginning Apr. 1 1921
and yearly thereafter, cash equal to 1% of the 1st & ref. 5sand underlying
bonds outstanding on tho previous Dec. 31, less amount of payments
to underlying sink. fds. during preceding year, shall bo deposited, usable for
extens., &c., against which no 1st Sc ref. 6s shall be issued, or Tor the retire
ment o f 1st & ref. or underlying bonds. The 1st Sc ref. 5s are red. on any
Int. date up to and Incl. Jan. 1 1942 at 105 and int.; thereafter at 10244 and
Int. Interest Is payable In Chicago and N . Y . See offering In V. 106, p.
397. The debs, are callable Jan. 1 1922 and any int. date thereafter on
30 days notice at 10244 and Int.; convertible on and after Jan. 1 1922 Into
7% cum. first prof, stock, par for par, with adjustment o f int. and dlvs.
The Texas Traction 1st 5s can bo called at 110 & accrued Interest
on any int. dato upon 30 days’ notico. $627,000 (not incl. in amount
reported outstanding) aro deposited under 1st & ref. mtgo. of tho Texas
Electric Railway Co. A s in k in g f u n d o f 5% o f gross earnings began
July 1 1912, to bo used in tho purchase or bonds; $232,000 held in
sink, fund not incl. in amount outstanding abovo. Don. & Sher. 1st M
bonds are subject to call since July 1 1917 at 105 and Interest on four
weeks’ notice. A s in k in g f u n d began July 1 1905 o f 2% per annum of
bonds out until 1913, when amount payablo becamo 3% per annum until
1917; from 1918 to 1922, incl., 4% per annum: 1923 to 1926, Incl., 5% per
annum; $104,000 in sinking fund, not incl. in amount outstanding abovo;
$3,000 canceled; $52,000 in treasury (not incl. in amount reported out
standing) .
D i v i d e n d s . — Divs. on tho first pref. stock wero begun Oct. 1 1917.
Dividends of 1% % quarterly on tho 2d pref. stock were begun Nov. 1 1917.
EARNINGS for years ending Dec. 31:
Y ear—
G ro ss.
N e t (a ft. ta x e s ).
In terest.
D a l. s u r p lu s .
1917 ....................$2,138,268
$990,636
$474,788
$515,848
1916 ................... 1,829,009
804,871
512,491
292,380
L a te st E a r n i n g s . — For 12 mos. end. Mar. 31:
1918 .................... $2,231,762
$1,033,806
$470,250
$563,556
1917 .................... 1,865,503
842,748
___
507,860
334,888_
R OAD.— Owns and operates Interurban linos betwoen Dallas and Deni
son, 76.39 m.; Dallas and Waco, 96.89 m.; Dallas and Corsicana, 56.19 iik;
2d main track, sidings and turnouts, 14.80 m.; local lines in Shorman, Deni
son, McKinney, Waco, Corsicana and Waxahachie, Tex., incl. sidings. S ee..
34.43 m.; total, 279.38 m. (incl. 9.98 m. o f track, being ontranco into Dallas,
based). Gauge 4 ft. 844 In. 70-80-lb. “ T ” rail. 63 interurban passenger,
56 city passenger, 16 express and baggage and 44 work, &c.. cars; total,
180; 14 sub-stations. Leases generating plant to Texas Power & Lt. Co.
fr mi which it purchases power under favorable contract, expiring at samo
time as lease.
OFFICERS.— Pres., J. F. Strickland; V.-P. & Gen. M gr., Burr Martin;
Treas., H. I, Gahagan; Sec., Jas. P. Griffin.— V. 105, p. 2095; V. 106,
p. 397.
________ __ __________
D AN BU R Y, CONN.
DA N BU R Y & BETHEL STRE E T R Y .
•
N e w C o n tr o l. — In Sept. 1917 Stephen Crute, Now York, and associates
acquired control. V. 105, p. 1208.
R e c e iv e r .— On Oct. 30 1917 Judge James E. Walsh, of Groenwich, was
appointed receiver of the company on application of A. H. Flint, holder of
a $1,000 note, overdue. V. 105, p. 1801. Judgo Walsh was superseded by
Atty. J. Moss Ives, of Danbury, in Dec. 1917. V. 105, p. 2272.
C o m m i t te e f o r 1st & R e f . 5 s .— Chairman John McCarthy, Danbury,
Conn; Chas. E. Graham, Now Haven, Conn., and P. Lo Roy Harwood.
New London, Conn.— V. 106, p. 498.
R e c e iv e r ’s C e r ti f i c a te s . — In Feb. 1918 tho receiver applied for auth. to
issuo $75,000 receiver’s certificates to liquidate outstanding obligations, buy
now rolling stock and place tho road on a working basis.
ORGANIZATION.— Incorp. May 7 1886 under the laws o f Connecticut.
Has a perpetual special charter, the only street car company serfing Uiu
city of Danbury and town of Bethel. Its lines also extend to the Danbufy
Fair Grounds and the pleasure resort of Lake Kenosla.
STOCK AND BONDS—
D a te .
I n t e r e s t . O u ts ta n d in g . L a s t D i e . , & c
Stock, $623,000 (par $2 5)................
J-J
$320,000 Jan ’12. 2%
First * ref mtge $690.0001 1913
5 g M -N
339,500 May 1 1943
($500 and ••1,000) n • f._ e * /In t. at American Trust C o.. Bos., Trustee.
[Vol. 106
STOCK AND BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Consol mtge, $300,000, gold/ 1906 5 g M-N
$100,000 M ay l 1930
($500 and $1,000)-------------[Int. at Amorican Trust C o., Boston, Trustee.
Debenture bonds, $75,000/ 1908
6 M-S
63,000 Mar 1 1918
($1,000 and $500)-----------c\lnt. at City National Bank of Danbury.
Debenture bonds, $150,000.. 1911
6 J-J
86.000 Jan 1 1921
D s n d s .— The 1908 debs, are red. at 105 on any Int. date after due notfee. Of the 1911 debs., $75,000 are reserved for like amount of debs, oft
1908. O f the 5s o f 1913. $100,000 are reserved to retire a like amount o f
oscwol. 5s and $150,000 for retirement of tho two debenture issues.
D iv i d e n d s .— In 1896-97, 4% : In 1897-98, 4% ; In 1898-99, 2% ; In 1899
1600, 144%; In 1900-01, 144%; In 1901-02, 3% ; in 19(^2-03. 3 % ; In
1003-04, 144%; 1907 to 1911, 4% ann.; In i912, Jan., 2% ; none since.
ROAD.— Trolley road In Danbury, and from Danbury to Bethol, and to
La Ics Kenosla. 15.031 miles In all; sidings, &c., 1.044 miles; total, 16.075
miles. 42 passenger and 7 other cars. Standard gauge.
RE PO RT.— For calendar year 1916 and years ending June 30:
„„„
G ross.
N et.
I n t. A T a xes.
B a la n c e .
1916 .................................. $165,321
$37,935
$50,234
def.$12.299
IV! 5-16.......................
159.865
39.681
47.118
def. 7,4:17
1914-15................................ 141.603
30.363
43.864
dcf. 13,501
1913-14................................ 136,111
40.498
33,119
sur. 7,378
OFFICERS.— Pres. & Gen. Man., Stephen Crute, New York; Sec. &
Treas., George H. Klinzing, Danbury.— V . 106, p. 498, 715.
D A Y T O N , O H IO .
C IT Y RAILW AY CO.— A trolley road.
ORGANIZATION.—Chartered May 12 1893. Is a consolidation of the
Dayton Street R R ., the Dayton Sc Soldiers’ Homo R R „ the Fifth Street
KB. F r a n c h is e s run for 50 years from Fob. 8 1892 and April 19 1893.
STOCK.— $2,400,000 ($100) com. auth.and Issued and $600,000 ($100)
6% pref. auth. aud Issued. Bond Issues havo been paid off.
D iv i d e n d s . — 6% per annum Is being paid on prof.
On common. In 1900
to 1903. Incl., u/o, »»> iO 6-0 70 W-dU.UW 1 1 new M U . HI par • in castj),
^
0% ; also 16 2-3% ($2.50.000 In
7U
1
stock at
UH
or
declared N ov. 1903. paid Jan. 1 1904; In 1904, 6% ; in 1905, 644%; 1906 to
In
1906_to
1910, Inclusive, 7% por aim.; In Feb. 1907 paid a special div. of 5 % .
(V. 83, p. 1590); In 1911. 7% , and In April 1911 a special div. of $9 09 1-11
(V. 92, p. 1178); In 1912. Jan.. 144%. In March 1912 began paying dlvs.
O .-M . Instead of Q.-J., and on March 31 paid 144 % ; Juno, 2% ; Sept., 2% ;
O f f . 2% .
In 1913. 8 % . In 1914, 744%. In 1915. 6%
Hi 1916
644%. In 1917, 7% . In 1918, Mar., 144%.
EARNINGS.— For calendar years:
T w e lv e M o n t h s — G ro s s .
N et.
I n t. & T a xes.
S u r p lu s .
1917........................$777,443
$209,449
$74,452
$134,997
1 9 1 6 -- ................... 766,311
305,124
54,551
250,573
Ki>AD.— Controls and operates In all 35.948 miles of track, namely: Third
Street LJue, Fifth Street Line, Green Line, Kaminer Ave. Line and Dayton
& Soldier’s Home Line. Gauge 4 ft. 844 In.; rails 70 and 80 lb. T and
70 and 90-lb. girder; operating 42 G. E. 67 and 50 G. E. ^00 motor equip
ments, 133 pass, cars, 3 sprinklers, 3 snow cars, 2 sand cars, 3 flat cars
and 1 work car.
OFFICERS.— Pres., E. D . Grimes; 1st V .-P ., O. B. Ole.; • 2d V.-P.
G. G. Shaw; 3d V .-P., V. Winters; Sec., M . Hall: Asst. Scc., J. S. M c
Mahon; Gen. M gr., T . E. Howell. Office, Western and Auburn Aves.,
Dayton.— V. 83, p. 1590; V. 92, p. 1178, 1564; V. 99. p. 1909; V. 100. p.
53 1256.
DAYTON COVINGTON & PIQUA T R A C T IO N .— A trolley road.
ORGANIZATION.— This was formerly known as the Davton & Troy
Traction, but name changed to the above In Aug. 1901. The D. Sc T .
Traction was Incorporated In Ohio In Jan. 1900 to build a street railway
from Dayton to Troy, but route was changed, and road constructed from
Dayton to Covington and Plqua, about 38 miles. Company acquirou the
right to use the tracks of the Peoplo’s R y. In entering city of Dayton.
STOCK AND BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock auth, $600,000 ( $ 1 0 0 ) - - ____
$000,000 ________
Pref, 5% n-c, $550,000 ($ 1 0 0 )...........................
550.000 ...............
First mortgage, $550,000, g / 1902
5 g A-O
490,000 April 1 1922
($1,000)---------------- c*.n tf\ In t. at Old Colony Tr. C o.. Boston. Trustee.
Second mortgage, $60,000-n t f -----6 g M-S
60,000 Sept 1 1919
B o n d s . — $60,000 1st mtge. bonds aro resorvod for extensions and im
provements; 2d mtge. bonds aro subjoct to call on any Int. dato at 105.
EARNINGS.— For yoar onding June 30 1917, gross, $166,890; not. after
taxes, $49,016: interest, $30,324; surplus, $18,092. In 1915-16, gross.
$150,119; not, $60,314; intorest and taxas. $40,890; surplus, $19,424.
ROAD.— Total track 38 miles. Standard gaugo. 70-lb. T , 80 and 90lb. girder rails. 11 passenger cars, 2 express cars and 7 other cars.
OFFICERS.— Pres., D. Dwyer; V.-P. & Gen. M gr., T . Russell Robin
son; Supt., T . J. Brennan.— V. 77. p. 146.
DAYTON & T R O Y ELECTRIC R Y .— A trolley road.
ORGANIZATION.— Incorp. 1900. Is built on both public and private
right of way. Completed in Dec. 1901. In Dec. 1915 received a 20-year
extension of its franchise in Plqua. Rails, 70-Ib. T . Power house located
at Tippecanoe City, Ohio. Stock, $500,000 ($100) com. auth. and Issued
and $800,000 ($100) 5% cum. pref. auth.; $047,800 Issued. N o bonds
contemplated. In May 1902 took over Miami Valley Ry. under 99-year
lease at a rental or $9,600 per annum, which Is applicable to stock of
$300,000. mortgage having been canceled.
D iv id e n d s . — On tho prof, stock 5% por annum Is being paid.
On com ..
Jan. 1 1904. 2% ;.In 1905, 6% ; In 1906, 6% ; In 1907. 2% ; In 1908. none; In
1909, 5% : In 1910, 6% : In 1911, 5% ; In 1912. M ar., 144%. In 19f3, Sept..
144%: Dec., 144%; In 1914. June. 144%; In 1916, Dec., 144%: In 1916
and 1917, 5% each.
EARNINGS.— For years ending Dec. 31:
Y ear—
G ross.
N et.
D e d u c t 'n s . D iv i d e n d s .
S u r p lu s .
1917.....................$319,458
$107,704
$37,524
$57,386
$13,266
1916.................... 316,122
139,822
59,930
57,372
22,520
1 9 1 5 ----............. 272,831
83,435
34,911
38,602
9,922
ROAD.— Owns equivalent of 32.68 mllos of single track betwoen Dayton
and Troy. Leases 14.25 miles botwoon Troy and Plqua (Incl. 3.31 m. focal
lines In Plqua); total oporatod, 48.93 m.
OFFICERS.— Pres., II. P. Clegg; V .-P „ Ohas. B. Clegg; Sec., L. O.
_ rre*s - * (}en- M gr., R. A. Grume; Aud., F. Sprague. General
office, Tippecanoe City, Ohio,— V. 95, p. 1744; V. 99. p. 48: V . 102. p. 15J.
£ A X T Pr£lSE £ ,NaF\IIELD & XENIA SOUTHERN R Y .— Trolley.
ORGANIZATION.— Incorporated In 1909 as successor to the Dayton &
Xenia Transit C o., sold at foreclosure. Stock, auth. and outstanding.
$200,000 com. and $300,000 prof. Par $100. 1st M . auth. and Issued!
§S9°;£P°’ Warnings for year ending Juno 30 1915. gross, $178,884: net.
9o«) io20»
ROAD.— Owns and operates about 24 miles of track from Dayton to
Xenia and from Dayton to Beaverton. On Dec. I 1917 operations between
Beaverton and Spring Valley, 1144 miles, having proven unprofitable,
wero discontinued and that portion of tho line was subsequently dis
mantled. Pres., C. J. Fernedlng; V.-l\, T. A. Forneding; Sec. Sc Treas.
II. L. Ferdeding, all of Dayton.— V. 89, p. 285; V. 105, p. 2272.
OAKW OOD STREET RAILW AY C O — A trolley road.
In April 1915 Major Charlrs B. Clegg acquired control.
ORGANIZATION.— Incorporated July 22 1870 In Ohio. F r a n c h is e ex
pires 1941. In Oct. 1909 tho Ohio Supreme Court held the franchise valid
over the objections of the City Solicitor. Stock auth. and outstanding.
$500,000 (par $100). No bonds. Operates 8 miles of track In Dayton and
suburbs and leases (from Jan. I 1916) the Oakwood R R .’s lino In Oakwood
village; total miles operated, 10. Standard gauge. Pres. & 'Treas..
CharkH B Clegg; V.-P., H. P. Clegg; Sec. & Gen. M gr., Henry Gebhart,
all of Dayton.— V. 100. p. 1438.
D E C A T U R , IN D IA N A .
FORT WAYNE & DECATUR TRACTION CO.
F a r e I n c r e a s e .— In Jan 1918 was auth. by tho I.-S. O Comm, to increaso
passenger fan's 15%.
STOCK AND BONDS.—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $150,000 ($100).......................................
$150,000 .............
First mortgago $200,000 gold) 1916
0%
160,000 Juno 1 1926
($1,000) - - - - - - — ------— /Int. at Trl-Stato L. Sc T r.C o.,F t. Wavne.trus
EARNINGS.— For year ending Doe. 31 1917, gross, $53,249; not.
after taxes, $3,772; interest, $8,020; deficit, $4,248. In 1916, gross
$53,251: net, after taxes, $3,990.
ROAD.—Operates 21.6 miles betwoen Decatur and Ft. Wayne. Total
track, 23.7 miles. 70-lb. T rail; gauge. 4 ft. 844 In.— V. 100. p. 295.
m ay,
1918. J
D E L A W A R E , O H IO .
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 .
ORGAN IZATION .— Incorporated In Ohio on Oct. 15 1900. and Is a
consolidation o f the Delaware A Magnetic Springs I t /, and the Rlchwood
A Magnetic Springs R y. Private right o f way except in Oity o f Rlchwood.
STOCK AND BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Common, $200,000 ($100)................................ . .
$130,000 ...................
Pref. 6% n-c. $200,000.........................................
100,000 ...................
O M S A N 1st M . $400,000, g f 1900
5 g M -N
250,000 Nov 1 1931
($1,000), cannot be called.!Interest at Colonial Trust C o., Pittsburgh,
and no sinking fu n d ..c * t fl Trustee.
EARNING S.— For year ending June 30 1917, gross, $23,637; oper. exp.,
$20,778: net,$2,859; taxes, $6,380; def., after taxes. $3,527. In 1915-16.
gross, $2 7,068; oper. exp., $20,355; net, $6,713; taxes, $2,783; not, aft*
taxes, $3,930.
ROAD.— Operates 18 miles o f track from Delaware to Magnetic Springs
and Rlchwood.
OFFICERS.— Pres., W . M . Oalbralth, Pitts.; V .-P. and Treas., O.
Magee Jr., Pitts.; Sec., Chas. J. Fifer, Rlchwood, O.— V. 83, p. 1228,1469.
denver
T
col
.
T H E D EN V ER TRA M W A Y SYSTEM .
(1) Denver & N orthw estern Ry.— A holding company.
ORGANIZATION, Ac.— In Mar. 1913 a syndicate headed by Boettcher,
Porter A Co. of Denver acquired a controlling interest through purchase of
the stock (about $1,600,000) heid by Mareden J. Perry o f Providence,
this purchase making Its total holdings about a 75% lnt. V. 90, p. 863
This company, since the plan in V .98. p. 1150, wont Into effect,, is simply
a holding company, practically Its only asset being the $9,000,000 commoa
stock of the Denver Tramway C o., which is pledged as security for ths $6.
000,000 1st A Coll, bonds o f this co.. and its only liability being $0,000,009
of its capital stock outstanding in the hands o f the public, the payment of
its bonds having been assumed by the Denver Tramway Co.
STOCK AND BONDS.— D a l e . I n t e r e s t . O u ts ta n d in g .
M a t u r it y
Stock $6,000,000 ($100).................
Q-J 10
$6,000,000
Sac teat
First and collateral mtgo (assumed by Denv. Tram. Co.— see below).
D iv id e n d s . — Prior to July 1909 dividend* were at rate of 6% p«r annum.
In July 1909 quar. dlv. was Increased to 2% and same amount paid quar
terly to July 1913. In Oct. 1913 rate was reduced aud 1% was paid
(V. 97. p. 1115). Same rate quar. to and Ind. April 1916. In July
1915 rate was further reduced to )4 of 1% . Oct. 1915 dividend omitted.
V. 101. p. 1188, 1370. None since.
REPORT.— Of Denver Tramway S y s te m for fiscal year ending Dec. 31
(lnter-co. transactions eliminated). Report for 1910 in V. 104, p. 1894:
F isca l
Y ear—
O ro s s
E a r n in g s .
87
ELECTRIC RAILWAYS
N e t (a f t e r
T a xes, A c .) .
O th er
In com e.
D ed u ctio n s .
B a la n c e .
S u r p lu s .
1910.........$3,275,877
$1,384,601
$21.23*1
$981,162
$424,733
1915......... 3,141,906
1.244.724
22.709
993.182
1C 4 251
T
OFFICERS.— Pres., S. M . Perry; Gen. Mgr.. F. W . Utld; Sec., H. S
Robertson; Troas., II. J. Alexander; And., W . A. Doty. V. 101. p. 1094|
(2) Denver Tramway C o . — O p e r a tin g C o m p a n y .
The Denver A Northwestern Ry. owns $9,000,000 o f the common stock.
ORGANIZATION.— Incorp. March 30 1914 In Colorado as successor
to the Denver City Tramway C o., which had previously absorbed the Den
ver Tramway Power Co. and the Denver Tramway Terminals Co. Owns
entire $500,000 stock o f the Consolidated Securities A Investing Co. (In
corp. on the same date to succeod the Denver Realty C o., Boulevard Real
Estato Co. and Denver Excursion C o .), which In turn owns all the outstand
ing stock and bonds o f the Denver A Inter-Mountain R R . See plan o f re
organization under "D&nver A Northwestern I iy ." In V. 98. p. 1150.
Franchises.— Operates within the city o f Denvor under a genoral franchise
granted Feb. 5 1885. Also under a 20-yr. grant voted by tax-paying electors
of the city in May 1900, which authorizes it to maintain throo-rall tracks,
gauges 3 ft. 0 in. and 4 ft. 8)4 in., over all its present line* within the city
and permits the construction of certain viaducts and extensions. See de
cision in V. 8-1. p . 220. Under decision o f the U. 8. Circuit Court of Ap
peal on Nov. 11 1912 the franchise o f 1885 was held valid, the Court de
ciding that In view of the franchise o f 1906 It was unnecessary to pass upon
the duration o f the older franchise at that time. The company claims that
its franchise Is perpetual. See decision in V. 95. p. 1472.
T a x S e ttle m e n t. — For settlement o f disputo between the city and the
company over taxes for the years 1912,1913 and 1914. see V. 101, p. 370.
STOCK AND BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Common stock $1 0,000.000.__.............................. $10,000,000
_________
See text
”
Pref stk $3,000,000 (7% cum )_____
Oonv etpld. b°nds $3.000.0001 i 9 14 6 g A-O
2,500.000 A pr" l'i9 1 9
gold ($100. $500 A $1,000) [ l o t . at Columbia Trust C o .. N . Y.OIty.
Deuv A N \V Rv 1st A coll M 1902
5 g M -N
517,000 May 1 1932
g $6,000,000 ($500 and! Int. at Bankers Trust 6 o ., New York.
$1,000) - - — - ------------C* l trustee; also office of co. in Denver.
Red. at 105and lnt. on 90 days’ notice.
u OA
’*
H
|UZ.O,OUU N o , U 91 *3
N.1
^.328,880 A 1 Y 1 A 7 5
3 0
lnt. at Bankers Trust Co.. New York,
$1,000) sinking fu n d ..c* tf
trustee, and In Denver.
Denv City Tram purchase 1899
5 g A-O
2.000,000 Apr 1 1919
money intge g $2,000,000 lnt. at Central Trust Co.. N. Y., trustee.
($500 and $ l,0 0 0 )-.c * tf
Denv Cons Tram cons mtgo 1893
5 g A-O
1,167.000 Oct 11933
$4,000,000 gold.............ntf Int.atBkrsTr.Co. J^.Y.,trustee A in Denver
Denv Tr Pow 1st impt mtgo 1903
5 g A-O
1,979,000 Apr 11923
$1,500,000 g ($1,000) guar lnt. at Internat. Tr. Co., Denver, trustee,
principal and interest_ tf
_
or Guaranty Trust Co., New York.
Denv Tr Term 1st mtge $ !,-[
500,000 «($100 A $1,000) j Interest atflankers Trust Co?. N. Y.TtrS?
guar prin A lnt.
. _..c*tf ( tee, and in Denver.
•600.000 common owned by Denver A Northwestern Ry. and
S750.000 te held for conversion of Denv. Tramway conv. bonds, the remain
ing $250,000 being sot aside for expenses of organising Denver Tr. Co.
Preferred stock is reserved for conversion of bonds.
B oru ls. —Of the bonds reported outstanding an above. $838,500 Denver
City Tramway 1st A ref. 5s aud $18,000 Denver Tramway Terminal* 1st
5s are owned hv the Denver Tramway Company. Convertible bond*
are redeemable at par and accrued int. on 90 days’ notice. Wore convertible
up to April 1 1918 into an equal amount of 7% cum. prof, stock, accom
panied by common In amount equal to 25% of face vaiuo of tho bonds con
verted. Of the Denver A Northwestern 1st A. oollat. mtge. bonds, $5.
483.000 have been exchangtxi for Denver City Tramway 1st A ref. 5a.
and $900 are In treasury of Denver Tramway Co. Of the Denver Cons
Tram. 1st cons. 5s, $163,000 have boon canceled and $2,070,000 have been
exchanged for Denv. City Tram. 1st A Ref. 5s. The Denver City Tramway
Co., prior to the sale of Its properties, exocuted a mtgo. upon all Its physical
properties (other than those formerly belonging to tho Denver A North
western Ry. Co.) Junior to tho lion of Its First A Ref. 8. F. Mtgo., as addi
tional security for tho l$0.000.000] First A Collateral bonds of the Denver
A Northwtstern Co., tho paymont of which Northwestern bonds the Denver
Tramway Co. has assumed. Donvor City Tr. Co. 1st A Ref. bonds are
rod. at 105 A Int. after 1913 up to Nov. 1 1923: thereafter at 102H A lnt.
on 60 days notice. S in k in g f u n d of 1% of bonds out began Nov. 1 1914
until and Inch Nov. 1 1923; thereafter 2% of twnds out; $477,000 retired
through sinking fund. The Denver Tramway Power Co. 1st Impt. Mtge
bonds are subj. to call any lnt. date at 105 and lnt.. s in k in g f u n d of $50,000
nor annum, to rot,fro bonds at 105 and lnt., commenced In 1908, and $521.
000 have been retired. Int. payable in New York and Donvor. The re
maining Douv. Tram. Term. Co. 1
Kinds are for lmpts. Thoy mature
$00,000 annually Sept. 1 1910 to 1940. Rod. as a wholo on any bit. day
at 105 A int. on 30 days notice. V. 98, p. 1156. $120,000 rotirod.
REPORT.—Of Denver Tramway Co. (1916 report In V. 104. p. 1894):
,
Gross
Yet (a f t e r
O th er
D ed u cB a la n ce
D e c . 31 Year—
J ^ a rn in g s.
T a xes. A c .) In c o m e.
tu rn s.
S u r p lu s .
1916....................... $3,116,920 $1,356,897 $3,182 $981,162 $378,917
1915....... - ........ ——3,019.210
—
1.235.803 7.434 993,167 250.070
Passengers carried in 1910. 76.198.497. against 73.123,246 in 1915.
ROAD AND EQUIPMENT.—Including the Denver A Inter-Mountain
RR., owns 253.24 miles of electric track, of which there are 213.10 mllos of
city lines and 40.14 miles of interurban lines; gauge. 3 ft. 0 In. and 4 ft.
81* In. 252 motor passenger cars, 141 trailers. 101 freight and 66 m
i.se.
cars; total, 620 cars. All freight equipment leased to Denver A Inter
Mountain RR. Co. Capacity of central generating plant, 19,200 k. w.
5 sub-stations, 2 of 1.500 k. w. each. 2 of 1.000 k. w. and 1 of 900 k. w.
OFFICERS.—Chairman of Board, C. K. Boettcher; V.-P., S. M. Perry;
Gen. Mgr.. P. W Hlld: Sec.. H. S. Robertson: Treas., II. J. Alexander.—
V. 102. p. 1890, 2254, 2337; V. 104, p. 1894, 1915.
(3) Denver & Inter-M ountain R R .— O p e r a tin g C o m p a n y .
The Consolidated Securities A Invest. Co. owns all the stock and bonds.
ORGANIZATION.— Incorporated In Colorado about Oct. 29 1907 as
Later-Mountain R y., but on April 2 1909 changed name to present title.
Private right of way. F r a n c h is e s in Denver and Golden are perpetual.
Has freight traffic agreements with Denver Tramway Co. ana arrange
ment* for Interchange o f transfers on Denver City lines; also contract for
use of Tramway Co. a tracks in entering Denver.
STOCK AND BONDS— D a t e .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $1,000,000 ($100).......................................
$1,000,000 ...................
Inter-Mountain Ry, 1st m ort-f 1908
5 g J-J
500.000 Jan 1 1938
gage, gold, $760,000 ($100!Interest at Continental Trust C o., Denver.
and $1,000)_________ c* t f l Trustee, or Bankers Trust C o., New York.
B o n d s are callable at 105 on any Interest day.
ROAD, A c.— Inch in Denver Tramway C o.— V. 98. p. 1156.
D E R R Y , PA.
WESTMORELAND COUNTY RAILW AY CO.
ORGANIZATION.— Incorporated in Pennsylvania on Dec. 27 1904. Is
a consolidation of the Bradenvllie A Derry Street Ry. and the Blalrsvllle A
Derry Street Ry.
STOCK AND BONDS— D a t e .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock. $500,000 ($50)........................
.............
$500,000 __________
First mortgage. $250,000, g j 1905
5 g M-S
250,000 Mar 1 1935
($100)-------------------------- c*\Int. at East End Sav. A Tr. Co.. Pitts., Trus.
Oar trusts.................... ............1915
M -S
8.400
See text
B o n d s .— No sinking fund, and bonds are not subject to call.
The car trusts mature $600 s.-a., March and Sept. 15. $3,600 retired.
EARNINGS.— For year ending June 30 1916. gross. $43,066; net. $20.
905; lnt.. $13,817: taxes. $1,406; deprec.. $5,000: surplus. $682.
ROAD.— Operates 7 miles of track.
OFFICERS.— Pres.. John E. Potter; V.-Ps., F. Wm. Rudell and J. A.
McComb: Sec.. H. S. Calvert: T reas.,.I. O. Vllsack. all of Pittsburgh; Supt..
S.
F. Schwerdt. Derry.— V. 82, p 50.
DES M O IN ES, IO W A .
DES MOINES C IT Y RAILW AY CO.— A trolley road.
In March 1911 N. W . Harris of Chicago acquired practically all the
stock not previously owned by him of the Des Moines City Ry. Co. and
of its allied corporation, the Inter-Urban Ry. Co. V. 92, p. 794.
ORGANIZATION.— A consolidation in 1893 of the Des Moines St. RR.
Co. and the Des Moines Suburban Ry. Co. Is authorized to carry freight.
F r a n c h is e . —A new 25-year franchise was grauted at an election ou|Nov. 29
1915 which places entire control of service In the hands of a commission
(one member appointed by city and tho other by the co.) and provides for
arbitration when the commission cannot agree. Also provides for 6 tickets
for 25 cts. half-fare for children under 12 and 20 tickets for 50 cts. for hlghschool students. The city, when empowered to do so, may purchase the
property on 6 months’ notice on the basis of a $5,000,000 valuation as of
Aug. 1 1915. For further details see V . 101. p. 1885. The franchise also
provided for extensive rehabilitation and new construction, the major por
tion of which has already been accomplished.
R e f in a n c in g . — A new General A Refunding Mtge. was created In 1910
to carry out the terms of the above franchise and provide for future capital
expenditures. Owners of tho $2,202,000 5% Rer. M . bonds of 1901 de
posited with the committee formed upon default of lnt. due Apr. I 1915
on said bonds (V. 100. p. 1348) were given the opportunity to (1) exchange
certificates of deposit for new bonds, $ for $, and receive a bonus of 5%
(550) in cash with adjustment of Int. In cash or (2) receive payment in full
in cash. The committee waived all defaults under the Ref. M . (Y. 100,
p. 1348) and consented to the discharge of the receiver (V. 101, p. 130).
V. 102. p. 712. All but $54,000 of the $2,413,000 Ref. M . bonds outstand
ing have been acquired and deposited under the Gen. A Ref. Mtge.
Guarantees the inter-Urban Ry Oo. 1st M bonds, p. A I. See below.
N e w P r e fe r r e d S to c k . — On M ay 15 1918 stockholders were to vote on in
creasing the auth. capital stock from $3,000,000 common and $250,000 6%
non-cum. pref. stock to $3,000,000 common and $1,500,000 7% cum. pref.
stock, the new pref. stock to carry the same voting powers as the common
stock and he cum. from M ay 1 1918 and callable, ad or in part, on any div.
date at 107)4 and divs. Common stock is to remain unchanged. See
V. 106, p. 2010.
,
STOCK AND BONDS— D a t e .
In terest.
O u ts ta n d in g .
M a t u r it y .
Common. $3.000.000 ($ 100).................................
$1.055.000 ...................
Pref. 6 % non-cum. $250,000.................................
250.000
Des Moines Street RR 1st M ,
gold ($1,000 each)........ntf
De* Moines City Ry refund's
mtge, $3,000,000. gold
1889 6 g A-O
106:000 Oct. 119i8
(See text)
and 1919
Cont .AComm .Tr .ASav .Bk . .Chic..trustee.
1901 5 g A-O
54,000 April 1 1921
Int. at Harris. Forbes A Co., N. Y.; also
($1.000)..................c*.ntf
HarrisTr.&S.Bk..Chic. Trustee, lll.Tr.
A Sav. Bk. and Wm. H. Henklc of Chic.
Dos Moines City Ry Gen A 1916 5 J-J
4.701,000 Jan 11936
Ref M. $15,000,000. gold narris Tr. A Savs. Bk., Chicago, Trustee.
($500 and $1.000)___ c*._
___
_________
- Interest at New York and Chicago.
Debentures ($2,000,000) gold/ 1916 6 g M-S
1.100,000 Mar 11926
($1.000)__________c*ntf\Int. at III. Tr. A S. Bk., Chicago, trustee.
litm d s . —$160,000 Gen. A Kef. M. bonds of 1916 are reserved to retire un
derlying liens. An additional $796,000 bonds may be Issued for the full
amount expended for construction, reconstruction and rehabilitation, or for
permanent oxts.. enlargements and adds.: remaining $9,343,000 bonds may
only be Issued for 80% of expend, for perm, exts., enlargements and addns.
under conservative restrictions. Bonds are red. on any Int. dateat!05
and Int. Mtge. provides for an annual expenditure, beginning with 1920.
of 20% of gross earnings for maint., repairs and renewals for exts.
and addns. for which no bonds may be issued, or for the purchase or retire
ment of outstanding bonds. V. 102. p. 975. Of the $2,413,000 ref. mtge.
bond* of 1901 outstanding, $2,359,000 have been acquired and deposited
under the gen. A ref. M., leaving $54,000 In the hands of the public.
Ref. M. bonds can be called on any Interest date at 106 and lnt. S'nk.
fund $10,000 yearly on April 1 from 1900 to 1910, S15.000 from 1911 to
1915 and $25,000 from 1910 to 1920. The Des Moines Street RR. 1st M.
0s are due $25,000 annually from Oct. 1 1914 to Oct. 1 1918 Inch and
$100,000 due Oct. 1 1919. The debentures of 1916 are callable on any lnt.
date up to and incl. Mar. 1 1921 at 102)4 and lnt.; thereafter at 101 and lnt.
REPORT.—For year ending Doc 31 1917. gross, $1,530,020. net
after taxes, $459,401.
ROAD.—Operates 95.15 miles of track. 35 to 129-lb. rails. 137
passenger and 17 service cars.
OFFICERS.—Pres., Emil G. Schmidt; Sec., O. II. Bernd; Treas.. F. M.
Harris; Asst. Sec. A Asst. Treas., H. A. Dow.—V. 101. p. 1885, 2144;
V. 102. p. 712, 975; V. 106, p. 1230, 2010.
INTER-URBAN RAILWAY CO.—A trolley road.
ORGANIZATION.—Incorporated in Iowa to construct a system of
interurban road* connecting with Des Moines. The Des Moines City Ry
Co. guarantee* the bond*, principal and interest.
The location of Camp Dodge 11 miles outside of Des Moines made it
necessary for tho company to extend its Perry line about 2)4 miles and to
provide additional terminal facilities. As of April 29 1918 had practically
completed double-tracking the lino to the camp. An agreement has been
reached with army officials through wliich soldiers pay a 15-cent rate, the
same as civilians, instead of a 10-cent fare as heretofore.
STOCK AND BONDS— D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Stock. $1,200,000 ($100)...____ _
$1,160,000 _________
1st mortgage, sinking fund, 1901 5 g A-O
1.160,000 April 1 1921
gold ($1,000), guaranteed Cont. A Comm. Tr, A Sav. Bk., Chic.. Trus.
p. A I. by De* Moines City Int. at Harris, Forbes A Co., New York, and
Harris Trust A Savings Bank. Chicago.
Ry™ ................c*.ntf
Debenture*. $350,000 ($1,000 1913 6 J-J
250.000 Jan 1 1923
and $500)---------------- ntf Int. at Harris Tr. A Sav. Bk., Chic., Trustee
______
_______
B o n d s . —Other bonds may be Issued for acquisitions and extensions at
not over 80% of cost and at not over $16,000 per mile for new road, but only
when net earnings equal 1U times all lnt. chargee on bonds out and those to
be iMued. Bonds are subj. to call at 105 and int. A s in k in g f u n d of 5%
of bal. of annual net earns., after payment of all charges, became operative
April 1 1906. and bonds so purchased are to be kept alive for purposes of th»
fund: $21,000 is held In sinking fund.included in amt.outstanding above
Debentures are red. on any lnt. date at 101 and lnt.
EARNINGS.—For year ending Dec. 31 1917, gross, $760,362:
after taxes, $119,638.
M , 1918.J
ay
R O A D .— O perates 7 4 .7 6 m iles o f tra ck (In cl. sid in g s) c o n n e c tin g D es
M o in e s an d C o lfa x , D e s M o in e s a n d P e r r y , w ith b ra n ch t o W o o d w a r d .
S ta n d a rd ga u g e; 60 an d 7 0 -lb . T r a il. 12 p a s s .. 132 fr e ig h t. 5 s e rv ice ca rs;
4 lo c o m o ttv o s ; 2 express and 2 c a b o o s e c a r s .
O ars e n te r D e s M o in e s o v e r
tra ck s o f D es M o in e s C it y R y .
O F F I C E R S .— S am e as fo r D e s M o in e s C it y R y . — V . 7 4 . p . 6 80 .
DETROIT, MICH.
DETROIT UNITED RAILWAY.— (See
M a p page 3 7 .)— T rolley.
O R G A N IZ A T IO N .— Incorporated In M ichigan D ec. 31 1900 and took
over franchises aad properties o f the D etroit Citizens’ Street R y ., the D e
troit Electric R y ., the Detroit F t. W ayne & Belle Isle and the D otrolt Sub
urban. V . 72. p . 44 ,183. Embraces all the street railway linos In D otrolt.
Later absorbed by purchase the Detroit & Northwestern R y., which Is
known as the Orchard Lake division, the Detroit & Pontiac R y ., known
as the Pontiac division, the Wyandotte & Dotrolt River R y., known as the
Wyandotte division, and the Detroit & Flint, formerly the Detroit Roches
ter Romeo & Lake Orion R y., and known as the Flint division.
Owns entire capital stock o f the Detroit & Port Huron Shore Line (Rapid
Railway System); Sandwich Windsor & Amherstburg R y. (acquired In
Aug. 1901): Detroit Monroe & Toledo Short Line R y. (acquired in Feb.
1906) and the Detroit Jackson & Chicago R y. The last-named Is a re
organization o f the Detroit Ypstlantl Ann Arbor & Jackson R y., the Jack
son Ann Arbor & Detroit Ry. and the Detroit Plymouth & Northvllle R y..
which were acquired In Jan. 1907. Also owns the entire capital stock of
the Detroit Almont & Northern R R ., which It leases for 50 years l'rom 1915.
and guarantees and assumes Its bonds as a direct obligation, by endorsem’t.
In Aug. 1901 purchased 180 shares (all) of the stock of the City Electric
Ry. and the People's Electric Light plant of Windsor, Ont.
F ra n c h ise s. — On M ay 22 1916, Pres. J. O. Hutchins wrote:
Certain of
the franchises in Detroit have expired during the past several years. These
franchises, which relate to about 15% o f the total mileage, have not been
renewed, but the Detroit United R y. continues to operate these lines In
question as heretofore, having made agreements with the city authorities
for rates of fare (but see remarks below) and extensions of Its lines. These
conditions have created what may be called an indeterminate franchise,
which the management anticipates will continue in force as heretofore so
long as the co. furnishes its present efficient service at existing low average
rates.” (See below.) For decisions relating to Fort St. franchise see V. 95,
p. 890: V. 96, p. 947. 1556.
,
„ „
,
A p p r a is a l o f C o m p a n y's Property. — In Oct. 1915 Prof. Mortimer E. Cooley
filed a report o f his appraisal of the company’s property, which fixed the
value In the one-faro zone on Jan. 1 1915 at $29,714,079, or less deprecia
tion, at $23,608,665; physical value of entire system. $48,400,764. with deprec. considered, $43,051,662. The value of all franchises was placed at
$7.783,481. Total value o f D. U. Ry. system, $56,184,165. or less deprec.,
$50,815,063. V. 101. p. 1164. Compare V. 100, p. 139. 308.
C ity P u rchase P la n Defeated. — At the election on N >v. 2 1915 the voters
defoated the plan (V. 100.p .811; V. 101. p. 614) for the acquisition by the
city of the co.'s lines and property within the one-fare zone. V. 101. p.1553.
R e p o r t by E n g i n e e r s to B o a r d of S treet Ry. Co m m . Seo V. 106, p. 929.
B ack Taxes P a id .— On Oct. 14 1913 taxes aggregating $323,592 (incl.
$64,814 lnt. at 6% ) were paid to the City Treasurer In accordance with the
agreement with the city reached In Aug. 1913 (see V. 97, p. 443). The
$75,000 for back rental on Fort St. was also paid. V. 97, p. 1115.
F a r e Decision. — The United States Supreme Court on Dec. 11 1916 up
hold the c o .’s right to charge extra fares for transporting passengers boyond
the old city limits into territory which has since been brought within the
city as at presont extended; also held the co. need not sell reduced rate
“ workingmen’s hour” tickets In the annexed territory.
F a r e Agreem ent Abrogated. — On Dec. 2 1917 the company began charg
ing a straight 5-cont fare, thus abrogating the 7 and 8-tIckets-for-25cts.
agreement entered into with the city on Aug. 8 1913 (seo V. 97, p. 443).
The higher rate of fare applies on all city lines except the Sherman, Four
teenth, Orosstown and Harper linos, where the old rates o f 8 for 25c. and
6 for 25c. continue under a franchise with 7 years to run. By way of re
prisal, tho City Council on Dec. 4 1917 (a) adopted a resolution directing
the company to pay a rental of $10,000 a day for the use o f streets on which
franchises havo expired; (5) rescinded permission to operate skip-stop on
practically all city lines; (c) recalled the resolution under which the co. had
rerouted many lines downtown; (d ) placed a fund of $35,000 at the disposal
of tho Municipal Railway Commission to employ engineers to determine
whether the Increase is justified, and (e) Instructed the Corporation Counsel
to ascertain whether tho co. has any right to operate freight and interurban
cars within the city of Detroit, V. 105. p. 2365.
w S tr ik e .— A strike of 34 hours’ duration was ended April 25 1918, tho men
returning to work pending settlement of their differences with tho co. by
Federal mediation. V. 106, p. 1796.
On Feb. 6 1917 authorized amount o f stock was Increased from $12,500,
000 tq $15,000,000 and tho $2,500,000 new stock was offered pro rata to
stockholders o f record Feb. 16 1917 at par. V. 104. p. 163, 559.
In Mar. 1918 issued $4,500,000 coll. tr. notes to refund $3,500,000 notos
which fell due May 5 1918 and to reimburse tho co. for advances mado to
rofund underlying bonds and for capital expenditures. V. 106, p. 1126.
STOCK AN D BONDS—
D a te .
In terest. O u tstand in g.
M a t u r it y .
Stock $15,000,000 ($100).................
Q-M
$15,000,000 June ’ 18,2%
1st consol mtgo. $25.000,000.( 1902
4 ) j g J-J 14.555,000 Jan. 11932
gold ($1.000)........ _ .c* cp t( Guaranty Trust C o., N. Y ., Trustee. Int.
I at Agency Bank of Montreal.
Coll trust notes $4,500,000/ 1918
7 g A-O 1 4,500,000 April 1 1923
($1,000) gold_______c* .tf (Central Tr. Co.,N.Y.,trustee. Int. In N .Y .
Detroit United lly. stock listed on the New York. Montreal, Detroit
and Cleveland Stock Exchanges.
B o n d s . — Of the $25,000,000 first consolidated mortgage bonds authorized!
$7,580,000 are reserved to retire underlying liens. $100,000 aro with trust
company for conversion and $2,765,000 aro held in treasury. Callable at
105 and interest on any interest date on 60 days’ notice. See V. 73, p. 1111;
V. 103, p. 320. Listed on N. Y. Stock Exchange. The collateral trust
notes aro secured by a deposit o f $9,000,000 par value o f stocks and bonds
of constituent companies. No additional Detroit United R y. A M % cons.
M . bonds can bo issued oxcept for refunding purposes, nor can tho constit
uent companies, whoso shares are pledged under those notos, increase their
bonded debt while any of those notes remain outstanding. Notos are re
deemable as a whole or In amounts of not less than $500,000 on 30 days
notice at 101 and int. to April 1 1922; thereafter at 100M and int. V. 106,
p. 1126.
Detroit Electric.
D ate.
Interest.
O u tstand in g.
M a t u r it y .
Detroit Ry 1st M , g ($1,000)/ 1895
5 g J -D
$1,500,000
1918-1924
on 66.34 miles.............c*&r(Interest at Cleveland Tr. C o., Trustee.
B o n d s , — First mortgage bonds of the Detroit Ry. numbered 1 to 600 ma
ture In order o f numbers at $50,000 per annum, beginning Dec. 1 1912:
numbers 601 and abovo mature Dec. 1 1924; $300,000 have been retired.
Detroit Fort Wayne & Belle Isle.
1st mtge, gold, $1,200,000 f 1898
5 g A-O
$1,200,000 April 1 1927
($1.000)................ ......c*&rlNew York Trust C o., Trustee. Subject to
( call at 105 and Int. on 60 days’ notice.
Interest at Kean, Taylor & C o.. New York.
Detroit & Northwestern Ry.
1st mtge. $1,000,000, gold/ 1901
A M g M-N
$855,000.May 1 1921
($100, $1.000)................ c*(Interest at Union Trust C o., Detroit, Trust.
B o n d s . — Are guar., p. & 1., by Detroit United Ry. by end. and are sub
ject to call at 105 and hit. on 60 days' notice. See V. 73. p. 494.
1 st
39
ELECTRIC RAILWAYS
Detroit & Pontiac Ry.
1897
5 g F -A
$ 50 0 ,0 0 0 F e b 1 1922
m o rtg a g e , $ 5 0 0 ,0 0 0 , g o ld
( $ 1 . 0 0 0 ) ................................ c* W ash in g ton T ru st C o ., N . Y . , T r u s te o .
In terest at P e o p le ’s S ta te B a n k , D e t r o it .
g J -D
6 0 0 ,0 0 0 Ju n e 1 1928
1 st c o n m tg e , g o ld ($ 1 ,0 0 0 ), 1901
$ 1 ,1 00 ,0 0 0 ___________ * * r Int. at Washington T r. C o , N . Y ., Trustee.
_______ - ..................c
— $ 50 0 ,0 0 0 c on solid a te d m tg e .
b o n d s aro reserved t o retire
like a m ou n t o f 1st m tg e . b o n d s . B o n d s are s u b je c t t o call a t 105 a n d Intert on 60 d a y s ’ n o tice a fter Ju n e 1 1911. P rin cip al a n d Interest o f b o th
iues gu aran teed b y D o tr o lt U n ited b y en d o rse m e n t.
W y a n d o t t e & D e t r o i t R iv e r R y .
1st co n s o l, m tg e , $ 4 2 5 ,0 0 0 / 1898
5 g J -D
$ 4 2 5 ,0 0 0 D e c 1 1918
($ 1 ,0 0 0 ). K ola___________c * I In terest at U nion T r u s t C o . . D e t r o it , T r u s t e e
D e t r o i t & F l i n t R a ilw a y .
T h e D e tro it & F lin t R y . was organ ized t o a cq u ire th e D e t r o it R o c h e s te r
R o m e o & L a k e O r io n , tog eth e r w ith th e N o r . D e t . E le c . R y . an d th e D e t .
U tica & R o m e o R y . T h e co n s o l. M . Is a 1st lien o n these last tw o p r o p ’ tles.
Bns
od.
8
A
M
A%
M
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
5 g J -D
$ 1 ,1 0 0 ,0 0 0 J u n e 1 1920
D R R & L O R y 1st m tg e , 1900
sin king fu n d , g o ld ($ 1 ,0 0 0 ), In terest a t A m e r ic a n T ru st & S av in gs B a n k ,
C h ic a g o , T ru s te e ; a lso G u a r a n ty T r u s t C o .
$ 1,5 0 0 ,0 0 0 ; un issued b o n d s
N ew Y ork.
h a v e been c a n c e le d ______c *
______________________________
5 g F -A
1 ,4 0 0 ,0 0 0 A u g 1 1 9 2 1
D e tro it & F lin t 1st co n s o l M , 1901
g . $ 3,0 0 0 ,0 0 0 ($ 1 .0 0 0 )- . o * l I n t . a t T r . C o . o f A m e r ic a . N Y . . T ru s te e .
.— O f th e co n so lid a te d m t g e ., $ 1 ,1 0 0 ,0 0 0 are reserved t o re tire
bon d s o f lik e a m o u n t o f t h e D . R . R . & L a k e O . R y . and $ 50 0 ,0 0 0 h a v e been
ca n ce le d . C o n s o lid a te d b o n d s are s u b je c t t o call a t 100 an d Interest
on 60 d a y s ’ n o t ic e . B o th Issues are g u a ra n te e d b y th e D e t r o it U n ited
R y .; see fo rm o f g u a r a n ty In V . 7 6 , p . 1300; as "a d d itio n a l colla teral
s e c u r it y " on th e F lin t b o n d s 1st c o n s o l.
b o n d s o f th e D e tr o it U n ited
are d e p o s ite d , $ fo r $ , w ith th e G u a r a n ty T r u s t C o . o f N e w Y o r k , a n d w o u ld
be a va ila b le In th e e v e n t o f d e fa u lt o n th e D e t r o it & F lin t b o n d s .
Bns
od
A%
M
R E P O R T .— A n n u a l r e p o r t f o r 1917 w a s In V . 106, p . 810.
D e t r o i t U n it e d R y . , R a p i d R y . S y s „ S a n d w . W i n d . & A m h e r s t b . R y . ,
D e t . M o n r o e & T o l . S h . L in e R y . a n d D e t . J a c k . & C h i c .
1917.
1916.
1915.
1914.
R e ve n u e p a sse n ge rs____ 3 5 6 ,2 0 8 ,4 2 9 3 3 5 ,5 9 9 ,8 0 2 2 7 5 ,5 7 6 .4 0 9 2 5 2 ,9 6 1 .2 2 1
T ra n sfe r p a ssen gers____ 1 1 9 ,96 2 ,1 2 5 1 1 9 ,8 9 9 ,3 3 5 9 8 .5 4 1 .2 1 4
8 5 ,3 5 4 ,1 3 1
G ross e a rn in g s.................. 8 1 7 ,4 2 7 ,9 4 0 $ 1 6 ,0 3 6 ,6 6 9 $ 13 ,2 3 5 ,5 5 1 $ 1 2 ,2 4 0 ,0 0 4
O p e ratin g ex p e n se s____ 13,2 59 ,7 9 1
1 1 ,2 1 5 .8 0 2
9 ,3 3 1 ,8 0 4
8 ,7 0 2 ,6 6 0
N e t earn s, fr o m o p e r . $ 4 ,1 6 8 ,1 4 9
I n c . fr o m o th e r s o u r c e s .
4 1 1 ,7 3 7
$ 4 ,8 2 0 ,8 6 7
3 5 1 ,3 3 5
$ 3 ,9 0 3 ,7 4 7
2 8 6 ,8 1 5
$ 3 ,5 3 7 ,3 4 4
273 ,72 8
I n c . fr o m all s o u r c e s .. $ 4 ,5 7 9 ,8 8 6 $ 5 ,1 7 2 ,2 0 2
In terest a n d ta x e s ...........$ 2 ,4 0 4 ,3 5 5 $ 2 ,2 9 1 ,4 1 0
D i v id e n d s ................
% ) 1 , 118 ,75 0 (6 J i)8 4 3 ,7 6 0
D e p r e cia tio n ch a r g e d o f f
8 0 0 .0 0 0
8 0 0 ,0 0 0
C o n tin g e n t I la b . re se rv e .
R e s e rv e fo r ta x e s _______
150‘ 660.
$ 4 ,1 9 0 ,5 6 2
$ 2,2 2 9 ,8 0 1
(6 )7 5 0 ,0 0 0
7 5 0 ,0 0 0
$ 3 ,8 1 1 ,0 7 2
$ 2 ,1 6 6 ,0 7 2
(6 )7 5 0 ,0 0 0
2 94 ,00 0
5 0 ,0 00
(7
H
$ 3 ,9 3 5 ,1 6 0 $ 3 ,7 2 9 ,8 0 1 $ 3 ,2 6 0 ,0 7 2
T o t a l d e d u c t io n s ____ $ 4 ,4 7 3 ,1 0 6
S u rplu s in c o m e ..................
$106 ,7 8 1 $ 1 ,2 3 7 ,0 4 2
$ 4 6 0 ,7 6 1
$ 55 1 ,0 0 0
D I V I D E N D S .— F irst d iv id e n d o f 1 % o n D e t r o it U n ite d s to c k w as p a id
M a r c h 1 1901 an d 1 % q u a rte rly th erea fter u n til A u g . 1 1905, w hen rate
1913 to and Incl. March 1916, I M % guar. In Juno 1916 to and incl.
March, 1917, 1J£%. In June 1917 to and incl. Juno 1918, 2%.
ROAD.—On Jan. I 1918 operated 894.4910 miles of track, as follows :
Detroit United, Including Wyandotte & Detroit River Ry., Detroit &
Northwestern. Detroit* Pontiac. Detroit & Flint, 522.2714miles; Detroit *
Port Huron Shore Line, 137.9142 miles; Sandwich Windsor & Amherstburg
Ry. .41.3771 miles; Detroit Monroe* Toledo Short Line, 82.2944 miles, De
troit Jackson & Chicago Ry.. 110.6339 miles. Ralls, 77,85and 98-lb. steel,.
Does an express service. Has 1,713 closed passenger cars, 189 open passenger
cars, 284 freight and construction cars, 37 line cars, 106 express cars, 20 mis
cellaneous cars, 4 locomotives, 4,563 motors and 3,819 trucks. There are
seven power houses, with a combined capacity of 62.050 h. p.. 2 storage
batteries, with a combined capacity of 4,500 amperes and 19 sub-stations
with a combined capacity of 21,750 k. w.
OFFICERS.—Chairman of the Bd., J. O. Hutchins, Detroit; Pres. &
Gen. M g r., F. W . Brooks, D etroit: V.-Pfc., E . W . M oore, Cleveland, and
A . J. Ferguson, M ontreal; V .-P . & Treas., Allen F. Edwards, D etroit: Sec.,
A . E . Peters, D etroit. General offices, Interurban B ld g., D etroit.— V . 106,
p. 607. 810, 924, 929, 1126, 1461. 1796.
(1) Detroit & Port Huron Shore Lino Ry.—A trolley road.
Entire outstanding capital stock Is now owned by the Detroit United Ry.
ORGANIZATION.—Incorporated In May 1900. Is a consolidation or
the Rapid Railway Co., the Detroit Mt. Clemens & Marine City Ry. (tha
purchaser of the properties of the Mt. Clemens & Lakeside Traction Co. and
the Detroit & River St. Clair Ry.), the Port Huron St. Clair & Marine City
Ry., the Connors Creek & Clinton River 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 Mt. Clem
ens and Port Huron, and the through route from Detroit to Port Huron
running through Mt. Clemens, New Baltimore, Algonac. Marine City and
St. Clair. Also owns the capital stock ($25,000) of the Detroit & Lake
St. Clair Ry.
STOCK AND BONDS— Date. Interest. Outstanding. M aturity.
Stock. $2,500,000 ($100)..................................
$2,000,000 . . . . . . . . . .
1st mtge. $2,500,000 ($1,000)/ 1900 5 g J-J
2,497.000 Jan 1 1950
cannotbecalled,gold.c'&r/Unlon Trust Co., Detroit, Trustee.
lint, at American Exch. Nat. Bank, N. Y.
B o n d s. —Remaining $3,000 1st M. bonds are set aside to retire the bond*
of the Port Huron St. Clair & Marine City Ry. V. 98, p. 1693; V. 99, p.119
Port Huron St. Clair & Marine City Railway.
BONDS—
Date.
Interest. Outstanding.
M aturity.
1st mortgage, gold, $300,0001 1900 5 M-S
$3,000 Mar 1 1920
($500 and $1,000)_______ /Union Trust Co., Detroit. Trustee.
Tho remaining $297,000 bonds have been canceled; $1,000 in Detroit
United Ry. treasury as of May 1 1918.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
D e t r o i t & L a k e S t . C la ir R y . C o .
BONDS—
1st mortgage, $400,000. goldl 1900
5 g A-O
$390,000 April 1 1920
($1,000).......................... c * /ln t. at Union Trust C o.. Detroit, Trustee.
Bonds.— The bonds are guaranteed, principal and Interest, by the Detroit
& Port Huron Shore Line R y., the Rapid Railway Co. and the Detroit M t.
Clemens & Marine City Ry. They are not subject to call. Of the $390,000
reported outstanding, $100,000 were held by the Det. Unit. M a y 1 1918.
ROAD.— Total Det. & Port Huron System, 136.3900 miles.
EARNINGS.— Now included In report o f Detroit United R y.— V. 77. p .
34; V. 84. p. 338.
(2 ) Sandwich W indsor & Amherstberg Ry.— Trolley.
ORGANIZATION.— Incorporated under special charter from Province
of Ontario. Owns entire capital stock ($100,000) of the Windsor & Tecumgeh Electric R y. Entire stock of Sand.WInds. & Amh. Is owned by Det. Un.
STOCK AND BONDS— Date.
Interest. Outstanding.
M aturity.
Stock, $350,000 ($100)............................- ..........„
$297,000
------------- Consol Mtge, gold. $600,0001 1902
A M g J-D
600,000 Dec 1 1922
$ 110 ,0 0 0 of the bonds were In the Detroit United R y . treas. M a y 1 19 18 .
Windsor & Tecum , bonds are guar., p. & I., by Sand. Windsor & Amherstb.
R y . T h e y aro redeemable since Sept. 2 19 17 at 105 and lnt. on 60 days
notice. Interest on both mortgages Is payable at company’s office.
R O A D .— Operates 41.3420 miles of track In and between W indsor. W alkervllle. Sandwich and Amherstberg, Including C ity R y . of Windsor (2.52
miles), operated under lease.— V . 7 5 . p. 13 0 3. 1400.
(3) D e tro it M onroe & To le d o S h o rt L in e R y .
O R G A N IZ A T IO N .— Incorporated in M ichigan on D ec. 1 1 1902.
In Feb. 1906 entire stock was acquired by D et. U nit. R y . V . 82. p. 39 2.
ST O C K A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
Stock, $3,000,000.......................................................$2,58 1,0 00 .....................
1st mortgage. $3,000,000,1 1903
5 g J -J
3.000,000 Jan 1 1933
gold ($1.0 0 0 )............ ........ c*/U nion T ru st C o ., D etroit, Trustee.
Bonds.— In terest Is p a y a b le In N e w Y o r k .
are n o t s u b je c t t o c a ll.
_
N o sin k in g fu n d an d bo n d *
.............................................
ROAD.— Operates 50 miles of road from Toledo to Detroit and 4 miles of
road from Monroe to Lake Erie; completed N o v . 5 1904. A t Toledo con
nection Is made with the Lake Shore Electric R y . for Cleveland. Is of
steam road construction, on private right of way: standard gauge, laid with
70-lb. T rails. To tal tra c k ,81.2944 miles.— V . 82. p. 392; V . 98. p. 235.
(4) D e tro it J a c k s o n & C h ic a g o R y .
O R G A N IZ A T IO N .— A holding co. organized In M ich . In 1907 by Detroit
United Interests to take over the D et. Y p sil. Ann Arbor & Jack. R y ., the
Jack. Ann Arbor & D e t. R y . and the D et. Plym . & Northvllle R y ., paying
therefor $1,230 ,00 0. E ntire stock owned by Detroit United R y .
40
STOCK A N D BONDS—
Date.
Interest. Outstanding. M aturity.
Stock ($100).................................................................
$614,000 .....................
First consol m tge, $4,000,000? 1907 5 g F-A
2,000,000 Feb 1 1937
($1,000), gold __________ c*\ ln t. at Security Trust C o ., D etroit, Trustee.
1st cons M D et Y A ArAJack? 1901 6 g F-A
1,610.000 Feb 1 1926
$2,600.000($500,$l,000)gc*\Int. at D etroit Trust C o .. D etroit, Trustee.
D et Yps & Ann Ar cons 1st M l 1899 6 g F-A
330.000 Feb 1 1924
$1,000,000, g ($500 A $ l ,- l l n t . at Union Trust C o ., D etroit, Trustee.
000) sinking fund annually!
Ypsilanti A Saline 1st M ....... ................
6
J-J
60.000 J u l y l l 9 1 9
The D et. Y ps. & Ann Arbor & Jackson first consols cannot be called.
O f the am ount reported outstanding, $46,500 were in the D etroit United
Treasury on D ec. 31 1917.
Bonds.— Bonds o f D et. Jack. & C hic, are subject to call on any Interest
day at 105 and lnt. G uar., p. & 1., b y the D etroit United R ys.; enough
bonds are reserved to retire bonded d ebt o f the D et. Y ps. Ann Arbor A .Tack.
R y . V . 85. p. 345. O f the am ount reported outstanding, $1,114,000 were
on M a y 1 1918 in the D etroit United treasury. O f the amount o f Ypsilanti
& Saline 1st M . bonds reported outstanding, S16.000 were in tho D etroit
United treasury on D ec. 31 1917.
R O A D .— Completed and In operation from D etroit (through W ayne and
Ypsilanti) to Ann A rbor and to Jackson; making mileage 100 miles, o f which
40 miles over private right o f w ay. Total track. 110.1617 miles. Rails
70 and 75-lb. T girder. D oes a freight business.— V . 84, p. 51, 450.
(5)
[Vol. 106
ELECTRIC RAILWAYS
DUBUQUE, IOWA.
DU B U Q U E E L E C T R IC C O .
O R G A N IZ A T IO N .— Organized in Delaware June 3 1916 and acquired
the Union E lectric C o ., o f D ubuque, (see “ E le c .R y ." Soctlon for M a y 1916).
Does the entire electric lighting, power and street railway business in D u
buque and vicin ity. Owns East Dubuque E lec. C o ., serving East Dubuque
111. A lso sells power to the Eastern Iow a Light A Pow er C o ., serving 8
com m unities within easy transmission distance o f D u buque.
STOCK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
$682,000 .....................
C om stock $2,000,000 ($100).................... - ...............
Pref 6 % cum $ 2 ,0 0 0 ,0 0 0 (3 1 0 0 )____
Q -M
800.000
See text
1st M $6,000,000 ($500 A $1 ,-j 1916
5 J-D
2,390,000 Juno 1 1925
000) red at 101 A Int o n {In t. at Chicago or New Y ork. Central
60 d ays’ notice_______ c p t l Trust C o ., o f Illinosis, Trustee.
Stock.— P re f.s to ck is callable at 110 and divs. and has equal voting power
with com m on. V . 103, p . 410.
Bonds.— Securod b y an absoluto first and only m ortgage on all the c o ’9
properties, rights and franchises. A d d ’l bonds m ay be issued for only 8 0 %
o f cost o f permanent a d d ’ns and im pts. and then only when not earns, for
preceding 12 m onths have been at least 1/4 times the Int. on bonds ou t
standing aud those to be issued. Sinking fund from Juno 1 1917, 10% o f
gross earns., either to purchase bonds or call them at 101 aud ln t .,o r for
Im pts., A c. V . 103, p. 410.
Dividends on p rof, stock have been paid regularly from date o f organizat’ n.
Earnings— Year ending— M ar. 31 1918. M ar. 31 1917. M ar. 31 1916.
G r o s s ............................................
$641,725
$614,401
$540,000
N et. after taxes..........................
203,530
224,466
230,572
P R O P E R T Y .— Power station with 9.500 lc. w . generating capacity;
about 220 miles o f transmission and distributing lines; 20.7 milos o f track
In city and suburbs, substantially all 70-lb. rail; 90 cars.
O F F IC E R S .— P res.. I . C . E lston. J r.. Chicago: V .-P ., It. B . M ayn ard .
D u buque, la .; Gen. M g r., O . H . Sim onds.— V . 103, p . 410.
D e t r o i t A ’. m o n t & N o r t h e r n R R
O R G A N IZ A T IO N .— Organized under the General Railroad Laws of
M ichigan. Is leased for 50 years from 1915 to tho D otroit United R y ..
which owns its entire capital stock.
B O N D S—
Date.
Interest. Outstanding.
Maturity.
First m tge, gold, $2,500,000/ 1915
6 g F-A
$400,000 Feb 11940
($1,000 A $500)_____ c* t f lin t , at Union T r. C o ., D etroit, T ru s., & N .Y
T he bonds are guar, and assumed as a direct obligation, b y endorsement,
by the D etroit United R y ., which, in the event o f any now issue o f refund
ing or general m ortgage bonds being placed on the D et. Un. R y . or Its sub
sidiaries, will reserve sufficient new bonds for the retirement o f the above
Issue at m aturity. R od. on and after Feb. 1 1925 at 103 and lnt. Re
maining bonds to bear rate o f Interest as fixed b y tho directors when issued
but not to exceed 6 % .
R O A D .— Extends from R om eo, through A lm ont to Im lay C ity , abou<
20 miles; built on private right o f w ay; 70-lb. rails.— V . 101, p. 130.
DULUTH, MINN.
D U L U T H -S U P E R IO R T R A C T I O N — T rolley.
O R G A N IZ A T IO N .— Incorporated in Connecticut in 1897. Owns entire
stock o f tho Duluth Street Ity ., the Lakeside Street R y . and the Superior
Rapid Transit. T he corporate existence o f the Duluth Street R y . is m ain
tained, but all o f its stock ($2,000,000 authorized. $1,800,000 outstanding)
Is held b y the Duluth-Superior T raction. Tills latter com pany has no
bonded d eb t. T he Duluth Street R y . was organized under A ct o f M inne
sota approved N o v . 17 1881 and possesses "an exclusive franchise" which
runs until 1931.
See decision with regard to franchises In Superior
in V. 80, p . 1911. On Sopt. I 1917 the Duluth St. R y . acquired the 3 /4 mile line o f tho Park P oint Traction C o . o f Duluth, M inn . V . 105, p.
180. T he Duluth-Superior Bridge between Duluth, M in n ., and Suerior, W ls., is used b y the railway but is a separate corporation, and
as issued 1st M tg e . bonds for $650,000 and 2d M tge . bonds for $300,000
— see bridge Items. V . 63, p. 310, 504. In 1903 entered into contract with
the G reat Northern Pow er C o . to supply sufficient power to operate the
street railways In both cities. T ho delivery o f power was begun In 1908.
Franchise D ecision.— On M a y 23 1914 Judge C ant In the State District
Court handod down a decision favorable to the com pany In the suit brought
by the city o f Duluth to cancel tho franchise granted to the Duluth Street
R y. on N o v . 17 1881 (V . 98, p. 1 6 9 4 ),and this decision was affirm ed b y the
Minnesota Supreme C ourt on Jan. 29 1915. V . 100, p. 473.
Fares.— On Jan. 1 1918 reduced fares on M organ Park lino from 10c. to 5c.
Decision.— On June 12 1916 the W ise. R R . C om m , rosclndod its order
o f N o v . 1912 requiring the Duluth St. R y . to establish a rate o f 6 tickets
for 25c. on its Superior linos. In addition to the 5-cent cash fare In force.
8T O O K A N D B O N D S —
Date.
Interest. Outstanding.
M aturity.
C om m on, $3,500,000 ($100)..............
Q-J
$3,500,000 A p r ’ 18, 1%
Pref 4 % cu m .$ l,5 0 0 ,0 0 0 (3 1 0 0 )____
Q-J
1,500,000 A p r *18, 1 %
Duluth St R y M , $2,500.000.f 1900
5g M A N
2,500,000 M a y I 1930
gold ($1.000)_________c * t f\ ln t . a t C ent. Trust C o ., N . Y .. Trustee.
Dul St R y gen M $2,500,000,? 1910
5 M -N
1.129,000 M ay 1 1930
gold ($1,000) sk fd -_ c * c p t \ ln t. at Central T r. C o ., N . Y .. Trustee.
Stock.— Both com . and pref. arellsted on N . Y . Stock Exch. V . 90. p. 848.
Bonds.— T he m tge. o f 1900 covors all the mlleago o f the Duluth Street R y .
the property o f the Lakeside St. R y . and o f the Superior Rapid Transit
having first been convoyed to the Duluth St. R v. T ho gen. m tge. bonds are
subj. to call on any int. day at 105 and int. $158,000 aro held in treasury and
$136,000 havo been canceled. Remaining bonds m ay bo issued for addi
tions, extensions, A c., under conservative restrictions. T hoy aro guar.,
p. A L, b y Duluth-Superior T rac. C o. Sinking fund o f 2 /4 % per annum o f
bonds out began M a y 1913. Exem pt from personal tax in M innesota.
V . 90. p . 1296; V. 91, p . 276; V . 92, p. 186; V. 104, p . 1044.
Dividends.— On the prof, stock 4 % p. a. is being paid. On co m ., 1st d lv .
— 1% — O ct. 1909. Same am ount quar. to and Lncl. July 1910; in O ct.
1910, 1 /4 % . Same am ount quar. to and lncl. April 1913. In July 1913
reduced to 1% (V . 96, p. 1772): same am ount quar. to and lncl. Jan. 1915.
April d lv. om itted (V . 100, p. 900): paym ents changed to «eml-annual
basis and a div. o f 1% paid July 1915 (V . 100. p. 1437) N one to O ct. 1
1917. when 1% was paid. Same rate quarterly since.
R O A D .— T he system embraces about 103.75 miles o f track and includos
all tho lines in Duluth and Superior. 152 passenger and 20 other cars.
R E P O R T .— For calendar years (1917 report in V . 106, p . 1681):
Calendar
Gross
N et (after
Int. A Pref .Divs.
Common Balance,
Years—
Earnings. Deprec.) Taxes.
(4 % ).
Dividends. Surplus.
1917........... $1,644,387 $582,116 S296.319 $60,000 (2% )$70,000 $155,797
191 6 ______ 1,424,429 509,856 241,854 60,000 _____ _______ 208,001
In 1917 carriod 32,196.521 revenue passengers and 5,239,439 transfer
passengers, against 28,081,851 revenue and 4,597,429 transfer passengers
in 1916.
L A T E S T E A R N IN G S .— F or 3 months ending M arch 31:
Three M o s .—
Gross.
N et.
Other Inc. In t., A c .
Surplus.
$73,274
S5.136
$44,014
$34,396
1918______ _____ $418,922
1917.......................
379,315
111,789
5,526
43,501
73,814
O F F IC E R S .— Chairman o f the Board, A . E . Ames; P res.. A . M . R obert
son; V .-P ., Edmund Zacher; V .-P . A Gen. M gr., Herbert Warren; Sec. A
Treas., S. L . R eichert.— V. 106, p. 499, 710. 1681. 1688.
DIXON, ILL.
IL L IN O IS N O R T H E R N U T IL IT IE S C O .
C ontrolled b y the M iddle W est Utilities C o ., which see in our "R a ilw a y
A Industrial S ection.”
O R G A N IZ A T IO N .— Organized under the laws o f Illinois July 31 1916
as a consolidation o f tho Illinois N orthern Utilities C o. (incorp. in April
1912), T ri-C ou n ty Light & Power C o. (V . 97, p . 669), and tho Freeport
R ailw ay & Light C o. (see this Section for M a y 1916). V . 103, p . 496.
Operates gas and electric properties in the western h alf o f the northern
part o f Illinois adjoining the territory served by the Public Service C orp .
o f Northern Illinois. Also operates street railways in Sterling and Dixon and
an interurban line between the tw o cities, total 1st track, 16.71 miles, and
9 miles o f track in Freoport. Franchises in Freeport expire M arch 1 1923
Has tra ffic arrangement for 50 years with the R ockford A Interurban R y .
C o ., allowing cars o f that com pany to enter Freeport.
In M arch 1918 the 111. P. U ..C om m . auth. tho co. to increase gas rates
15 cents gross per 1,000 cu. ft.
S T O C K A N D BON DS—
Date.
Interest.
Outstanding.
Maturity
C om m on stock ________________
$4,635,000 ___________
First pref stock 6% cu m _____ _____
Q-F
2,749,300 M a y '1 8 .1 >4
Second preferred stock _________
250,000 ___________
First and rof M gold ............t f 1912
5 g A-O
4,455,000 A pr 1 1957
Underlying Bonds—
5%
199.500 .....................
D o K alb C ounty Gas...........................
Sterling Gas A E lectric______ ______
5%
249,500 ___________
Miscellaneous Issues____________
83,000 ___________
Freeport R y L t A P 1st m tgof 1903
5 g M -N
286,000
See text
$350,000 g ($1,000)_____ c*(A m erican T r. A S a r. B k ., C hicago, trustee.
Freep R y & L t m tge $2,000,-? 1910
5 M -N
175.500 N ov 1 1935
000 g ($100. $500& $1,000) lin t , at C on t. & C om m . T r . & S. B .. C h.,trus
Stock.— In addition to amounts reported outstanding, $365,000 com m on
and $192,000 first preferred stock are In treasury.
Bonds.— T he 1st & ref. M . bonds o f 1912 are red. at 105. A ddltiona
amounts m ay bo Issued (a) $1,268,000 to refund underlying bonds, (6) In
exchange, par for par. for m ortgage d ebt existing at tim e o f acquisition o f
properties acquired in the future; (c) for expenditures made in acquiring
future property to extent o f 7 5% o f cost thereof. V. 94, p . 1383; V . 95,
p. 1123.
Int. on F. R . L. A P . bonds Is payable at offices o f C ont. & C om m . Trust
A Sav. Bank, C hicago. Are subj. to call by lot at 105 & int.; $04,000 have
been retired. M aturity o f bonds Is as follows; $5,000 duo M a y 1 In each of
the years 1910, 1912 and 1913 and $5,000 annually from 1915 to 1921 ln cl.,
the remainder in 1922. O f tho Freep. R y . & L t. bonds, $350,000 are
reserved for prior Hens. T hey are subject to call at 102/4 on 30 days’
notice from 1915. Sinking fund began in 1915; m ay be used for im pts., &c.
V . 91, p. 716.
Dividends.— On p ref., 1 /4 % quar. paid N o v . 1912 to and incl. M a y 1918.
E A R N IN G S .— O f Illinois N orthern U tilities C o. and Sterling, D ixon &
Eastern E lectric R y. for 5 m os. ending D ec. 31 1916 (see report in V. 104,
p. 2231): Gross, $536,157; net, $227,638; interest, rentals, A c ., $123,054;
pref. d iv s., $41,240; surplus, $63,344.
O F F IC E R S — Pros., Samuel Insull; V .-P ., E . D . A lexander; Sec. &
T reas., John II. G ulick; A sst. Sec. & A sst. T reas., R . W . W aite; A ud.
L . E . Jacobson.— V . 104, p . 2231: V . 106, p. 1036, 1132, 15S2.
g
DOYLESTOWN, PA.
P H IL A D E L P H IA & E ASTO N E L E C T R IC R Y . C O .— A trolley road.
Receivership.— On April 5 1912 Judge Ryan in Bucks C ounty C ourt ap
pointed A . II. Sicklor (Pres, o f C o .) and G odfrey Schmldheiser o f P h ils,
receivers. V . 94, p. 699, 1057.
O R G A N IZ A T IO N .— Organized in 1907 as successor to the Philadelphia
A Easton R y . (formerly the D oylestow n A Easton Street R y .), sold at
trustee's sale M ay 31 1907.
STOCK A N D BON DS—
Date.
Interest. Outstanding. Maturity.
C om m on, $265,000 ($50)........................................
$258,800 .....................
Pref, $365,000 , 5% n o n - c u m .____
_______
353,800 ___________
1st M , $1,000,000 ($1,000,? 1907
5 g M -S
911.000 Sept 1 1927
$500 and $100), gold ___c*\ Int. at Girard Trust C o ., Phila., Trustee.
Stick.— Preferred shares have no voting power.
Bonds.— N ot sub. to call and no sin k.fd. Int.w as 4 % to S ep t.’ l l ; now 5 % .
E A R N IN G S .— For year ending D ec. 31 1917, gross, $118,052; net,
$32,425. In 1916, gross, $108,658; net. $24,820.
KG A D .— Operates 31 miles o f road between D oylestow n and E astou’
Operates 8 cars.
O F F IC E R S .— Pres., A . H . Sickler, Phila.; V .-P ., Am os Johnson; Sec
W . S. Cham bers. D oylestow n; T reas., H . G . Rush, Lancaster.— V . 85. p
470: V . 94, p. 699. 1057.
EAST LIVERPOOL, OHIO.
ST E U B E N V IL L E E AST L IV E R P O O L & B E A V E R V A L L E Y T R A C
T IO N C O .
O R G A N IZ A T IO N .— Incorp. in Ohio and Penna. on N o v . 1 1917 as a
merger o f tho East Liverpool Trac. A L t. C o ., the Stoubenvillo A East
Liverpool R y. A L t. C o. and the Ohio River Passenger R y. For history
o f merged companies see this Section for January 1918.
STOCK A N D BONDS—
Date.
Interest.
Outstanding. Maturity.
C om m on, $2,000,000 C $ 1 0 0 ) - - .......
.................. $2,000,000 _____________
Pref 5 % cum $2,600,000 ( $ 1 0 0 ) ____
__________ 2,600,000 ___________
First m tge $3,000,000, gold 1917
5 g M -N
1,600,000 N ov 1 1947
($ 1 ,0 0 0 )_________________ c l l n t . at C om m ’l Trust C o .. P hila., Trustee.
Bonds.— Redeemable at 105 and int. after N o v . 1 1922.
R O A D .— Owns and operates 100.69 miles o f track between Vannort, Pa.,
and Steubenville, ().. and in Steubenville, East Liverpool and Wollsvillo,
O ., and Chester, W . Va. Also operates in intervening towns, and operates
a through line between Steubenvillo and Beaver, Pa. 80 cars.
O F F IC E R S .— Pres., C . A . Smith. Chester, W . V a.; Gen. M g r., R . J.
M cE Iravy, Chester, W . V a.; Sec. A Treas., Geo. H . Faulk, East Liverpool.
DU BOIS, PA.
DU B O IS E L E C T R IC & T R A C T IO N C O .— In N o v . 1916 control was
acquired by the K eystone Utilities C o ., which see under Scranton, P a.
O R G A N IZ A T IO N .— Incorp. in N ew Jersey on N o v . 18 1901 as the Am er
ican T ow n Light C o. and name changed later as above. Owns all o f the
stock o f tho Du Bois Elec. C o. and the Du Bois T rac. C o . V . 76, p. 972.
Franchises for both street railway and electric-lighting are perpetual and
exclusive.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding. Maturity.
S tock, $300,000 ($100)............................................
$292,500 .....................
Collat. trust m tge, $300.000r 1902
5 g M -N
280,500 M a y 1 1932
($500), gold ------------- c * n t f(I n t . at Columbia Trust C o ., N . Y ., Trustee.
Bonds.— N o sinking fund, but subject to call at any time at 105 and lnt.
E A R N IN G S .— For years ending D ec. 31:
Calendar Years—- Gross. Exp. A Taxes.
Net.
Interest.
Surplus.
191 7 --------- >— $149,945
$112,240
$37,705
$14,025
$23,680
84,185
53,113
24,126
28,987
1 91 6 ----------------- 137,298
O F F IC E R S .— Pres., L. G . La Bar; V .-P ., W alter Lester; S ec., W , H .
D avis; T reas., Harold W . D avis. V . 89, p. 1667; V . 103, p. 2340.
EASTON, PA.
.
!
'
i
'
;
N O R T H A M P T O N T R A C T IO N C O .
O R G A N IZ A T IO N .— Incorp. In Penn. O ct. 3 1902 as a*consolldation of
tho Easton A Nazareth R y. and F,;iston Tatarny A Bangor Street R y.
Owns practically all tho stock ($1,250,000) o f tho N ortham pton Easron A
Washington T ra c. C o . (see that com pany below ). Franchises perpetual.
In tho latter part o f 1915 absorbed the Bangor A Portland R y . operating
8 /4 milos botweon tho points named, and issuod $137,000 additional rof. A
cons, bonds to effect the merger. V . 102, p. 345.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
Maturity.
Stock. $500,000 ($ 50 )...............................................
$500,000 ................ ..
First m ortgage $400,000
1 1903
6 g J-J
349.500 Jan 1 1933
g o l d ---------------------------- c* tfJ In t. at N ortham pton T r. C o .(E a sto n ), Trus.
R ef A cons m t g e . . . .................. 1912
5%
437,000 Jan 1 1942
Bonds.— A sink, fund o f 10% o f net earns, is now op er. on N ortham pton
T rac. 1st M . bonds, but bonds cannot be called.
M , 1918.]
ay
E A R N I N G S .— C o m b in e d earnings o f N o r th a m p to n T r a c . C o . and
N o r t h a m p t o n -E a s t . & W a s h . T r a c . fo r y e a r en d in g D e c . 31 1917, gross
*2 1 6 ,2 1 5 ; n e t, a fte r ta x e s, $ 9 3 ,0 1 2 ; ch arge s, $ 4 4 ,3 0 0 ; s u rp lu s , $ 4 8 ,7 1 2 .
R O A D .— O p erates 33
m iles o f tr a c k fro m E a s to n t o T a t a m y , N a z a r e t h ,
B a n g o r a n d P o r tla n d , c h ie fly o n p r iv a te r ig h t -o f-w a y . S ta n d a rd ga u g e
6 5 , 70 a n d 8 0 -lb . steel ra il.
O F F I C E R S .— P r o s ., D a v id K in g ; T r e a s .. W m . L . D o y le ; G e n . M g r .
W . O . H a y .— V . 9 2 . p . 7 2 6 : V . 9 4 . p . 138-1; V . 1 02 , p . 3 45 .
M
(1)
41
ELECTRIC RAILWAYS
N o rth a m p to n *B a sto n & W a s h in g to n 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 . In 1910 in N e w Jersey a n d Is c o n tr o lle d
b y th e N o r th a m p to n T r a c . C o . (see a b o v e ).
cars, 21 work cars and 3 snow sweepers, 2 electric and 2 steam locom otives.
Passengers carried in 1917, revenue, 40,818,319; transfer and others,
8.236,295; in 1916, revenuo. 37,399,240; transfer and others, 6,836,885.
Has 2 powor stations w ith 15,600 k .w . capacity. Has 95 miles o f high-tension
transmission Unas. A lso has contracts for power with Mississippi R iver
Power C o . and Union E lec. Light A Power C o.
O F F I C E R S — Pres., O . M . Clark; V .-P .. H . L . Clark; S ec., G . L . Esta
brook; T reas., T . W . G regory; Asst. S ec., O . A . Pearson Jr. Under th«
management o f E . W . Clark A C o. M g t. C orp .. Phila.— V . 100, p . 474.
1437, 2085; V . 104, p . 1263, 2338; V . 106, p . 499, 1461.
Fare Increase.— In M arch 1918 the Board o f P . U . C om m . auth. the co
to Increase Its fares from 5 to 6 cents.— V . 106, p. 1127.
e l m ir a T n . y
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
* 1 .2 5 0 ,0 0 0 - ............. ..
S to c k * 1 ,2 5 0 .0 0 0 ($ 1 0 0 )....................................... .........
1st M
(clo s e d )
g ( $ 1 0 0 ,/ 1910
5%
5 39 .00 0 M a y
1050
$ 5 0 0 , $ 1 . 0 0 0 ) ____ s r c * t f ( B a n k e r s T r u s t C o . , N o w Y o r k , T r u s te e .
R e fu n d A co n s o l m o r t g a g e / 1912
5%
2 0 0 .0 0 0 J a n . 1 1942
* 1 ,0 0 0 . 0 0 0 ._______ _________(E a s t o n T r u s t C o .. T ru ste e .
B o n d s. — N o r t h a m p .-E a a t . & W a s h . T r a c . b o n d s are ca lla b le . In w h o le o c
In p a r t , fro m M a y 1 1915 u n til 1925 a t 110; th erea fter u n til 1935 a t
E L M IR A W A T E R , L IG H T & R A IL R O A D C O .— C ontrolled b y the
United Gas A E lec. C o .— See United Gas A E lec. Corporation under N . Y .
O R G A N IZ A T IO N .— In corp . In N ew Y ork M a y 26 1900 as a consolida
tion o f all the water, lighting, pow er and street railway properties in Elm ira.
Owns entire cap. stock o f R orlck’s Glen Park Assn, and m ajority o f stock o f
W est W a te rS t. R R . T h e latter co . operated under 999-yr. leases. In A pril
1913 It was stated that all franchises have at least 72 years to run, while
som e o f them are perpetual. In F eb. 1910 was auth. to acquire all stock
o f M on tou r Falls E lectric Light C o . In Sept. 1914 absorbed the W est Side
R R ., all o f whose stock was ow ned. V . 99. p . 815.
On M a r. 17 1914 the stockholders authorized the creation o f *3,000,000
7 % cu m . first pref. stock .
In 1915 sold the water supply system to the d t y o f Elm ira for $1,500,000.
the proceeds, together with the proceeds from the sale o f $232,000 5 % cons.
M . bonds, being used to retire the *1,661.000 5 % bonds due Jan. 1 1949.
which were called for paym ent at 105 and lnt. on July 1 1915. V.100 p . 1592.
In June 1916 the P . S . C om m . auth. (a) the absorption o f the Elmira
Transmission C o . and the Elmira A Seneca Lake T rac. C o. all o f whose
stocks and bonds were ow ned, and (6) the Issuance o f *100,000 1st con s. M
6s at not Ices than 9 2H and *125,000 1st pref. stock and *200.000 2d p ref.
stock at par, to pay floating d eb t, for construction, A c.
In 1917 the P . S. C om m . auth. the co . to Issue $450,000 addltiQnal 1st
consol. M . 5s to provide for the construction o f a gas plant.
STO C K A N D BONDS—
Date.
Interest. Outstanding. Maturity.
C om m on *1,000.000 (* 1 00 )........................... ............ *1,000,000 S ept’17. 1%
1st p f, $3,000,000 (7 % cu m )..............
7 Q -M
1.400,000 M a r ’ 1 8 ,1 H
2d pref 5 % cum *1.200,000-------------5Q M
1.200.000 M a r ’ 18. 1H
le ^ i:P ^ ? ortgage *5.000.000\ 1906 5 g M - 8
3,965,000 Sept 1 1956
($ 1 ,0 0 0 )-------------------g c * tfjI n te re s t at N ew Y ork Trust C o ., Trustee.
Stock.— First pref. la red. at option o f co . at 115 and d lv.
Dividends.— On ls t p r e r .. 154% quarterly 1s being paid. On 2d p r e f.,
7°. pa,d seml-ann. from Sept. 1907 to and incl. M a r. 1914. On July 1
1914 1 2 -3% was paid, covering four m onths, and In O ct. 1914 d lv . o f 1 H %
was paid, the rate being 5 % quar. Instead o f semi-ann. (V . 99, p . 60S).
Same rato quar. since to M a r. 1918. On com m on, 1st d lv .— 1 % — paid
O ct. 1910. In 1911. 1912 and 1913, 4 % . In 1914, O ct., 2 % . In 1915.
Jan ., 2 % ; A p ril, 1 % ; J u ly, 1 % . In June 1916 paid 2 % for 6 m os. ending
D ec. 31 1915 (declared In D ec. 1915) and 2 % for 6 m os. end. June 30 1916.
Hi Sept, m e paid 1 % ; D ec. 1916, 2 % ; Sept. 1917, 1 % ; none since.
R O A D , A c.— Comprises 48,214 m .o f single track In Elmira and connecting
the suburban town* o f Elm ira H eights, Southport and Horseheads. from
Ilorsoheads to W atkins (via M illport and M on tou r F alls), to Seneca Lake.
Has 90 passenger and 18 other cars. 75 to 110-lb. T and girder rails.
Owns R orlck s Glen Park and M aple A ve . D riving Park.
Oas Department.— Has 74.5 miles o f natural gas mains.
Electric D e p t . — T w o 5,250 k .w . turbines and four 750 h .p . boilers. Old
power station has 4,250 k .w . capacity, with new 823 h .p . boiler and three
800 k .w . step-up transformers; total capacity 16.400 k.w . E lectric dept,
servos Elm ira, Elm ira I lts ., Southport, W ellsburg, Chem ung, Big Flats,
Horseheads, Pino V alioy, M illport, M on tou r Falls and Odessa; sells power
to tho Corning L t. A P ow . C orp. and the Elmira Corning A W averly R y .
E A R N IN G S .—
Gross
Net (after
Fixed
Surplus for
Cal. Year—
Earnings.
Taxes).
Charges. Renew.,& c.
191 7 -----------------..$ 1 ,2 6 1 ,3 0 2
$489,867
$234,592
$255,275
1916 ...........................
1,199,873
512,155
234,224
277,931
1915 ----------------1,073.514
450,448
214,505
235,943
Passengers carried during 1917, 7,530,678.
O F F IC E R S .— Pres., R a y Tom pkins; V .-P ., G eo. Bullock; Sec. A T reas.,
O . A . Kolstad; A sst. S ec., J. A . M cK enna; Asst. Treas., H . J. Pritchard;
G en. M g r., F. II. Hill; A u d ., A . M . L e w is — V . 106, p. 601.
107>4; thereafter until m aturity at 105 and lnt. M tge. la closed. Sink,
fund 1% annually o f avge. amount o f all bonds out from 1915 to 1925; 1 H %
to 1940 and 2 % thereafter. Bonds are unconditionally guar., p . A 1.,
b y N ortham pton T rac .C o . ( V .9 2 , p . 726). I n t . payable at office o f P . W .
Brooks A C o ., In c., N . Y . C ity.
There are deposited to secure the N ortham p.-E ast. A W ash. 1st M . 5s
the following bonds o f the N ortham pton Traction C o .: $44,000 1st M ..
*100,000 2d M . (entire lsauo) and $81,500 gen. M . (entire lssuo).
E A R N IN G S .— N et earnings o f the com bined properties for the year
ending D ec. 31 1917, after deducting Interest on the old bonds, were
*75,513, or nearly 3 times the annual int. charge ($26,950) on the $539,000
1st 5s outstanding.
R O A D .— 17 mllos o f track from Phillipsburg, N . J .. to W ashington, N . J.
— V . 105, p . 1802; V . 106. p . 1127.
EAST ST. LOUIS, ILL.
THE EAST ST. LOUIS
&
SUBURBAN CO.
R E O R G A N IZ A T IO N . A O .— As per plan In ••Chronicle" o f D e c. 20
1913, p. 1822, this com pany was Incorporated Jan. 7 1914 In Delaware to
succeed the old East St. Louis A Suburban C o. or N . J.In O ct. 1914 auth.
capital o f the latter was reduced from $14,000,000 to $1,000,000. consisting
o f $00,000 pref. stock and *940,000 com . stock. See V. 100. p. 474.
Owns all the outstanding capital stocks (with the exception o f directors'
•hares) and bonds as stated o f the following com panies. T he amounts
ledged with tho St. Louis Union Trust C o. as collateral for the E ast St.
ouls A Suburban C o . coll, trust bonds are also shown.
-Stock----------------------------Bonds
Owned.
Pledged.
Owned.
Pledged.
East St. L . A Sub. R y . C o ..$ 3 ,8 5 0 .0 0 0 *3.824,300 *4,000,000 *3.834.000
East St. Louis R y . C o ______ 1,889,700 1,805,500 1,889.000 1.799,000
499.500
500.000
St. L . A K . S t . L . E l.R y .C o .
500,000
500.000
St. L . A B oiler. E l. R y . C o ................... .. 750.000
750.000
733.000
East St. L . L t. A Powor C o __ 1,100,000
274.000
A lton Gran. A St. L . T r. C o . 3,189,000
do
10-yoar notes........
...........
100.000
A lton Gas A E lectric C o ____
599,000
90"000
do
10-year notes-------------------------------These com panies own and operate all electric railway lines In East St.
Louis and A lton and lnterurban lines to Belleville, Edwardsvllls. Collins
ville, Caseyvllle, O ’ Fallon, M aryville, Lebanon, B rooklyn, Venice, M adi
son, Granite C ity and A lton , and tho only electric line across the Eads
Bridgo, connecting East S t. Louis with St. Louis. Cars aro operated over
this bridgo under a 50-year exclusive contract expiring In 1952. Through
arrangement with Illinois Traction C o. tho lnterurban cars from A lton aro
run Into their terminal In St. Louis. A lso d o entire electric lighting and
owor business In East St. Louis and the oloctric, gas and steam heating
uslness In A lton . A largo coal business Is also carried on.
Franchises In East St. Louis, Edwardsvillo, Collinsvillo and Belleville
expire in 1947, 1948 and 1952; Lebanon and O ’Fallon in 1922: Oasoyvillo,
1919. T he A lton railw ay, oloctric light and power franchises expiro in 1948;
the A lton gas and steam boating franchises aro perpetual; Granite C ity and
M adison franchises oxpiro In 1925; Vonlce in 1920; Brooklyn In 1921. T he
lnterurban lino to A lton , outside o f city lim its. Is nearly all on private right
o f w ay. C ounty franchises covering remaining suburban lines expire from
1919 to 1948. E lectric light and power franchise In E ast St. Louis expires
2007.
m
In D ec. 1917 tho A lton Granito & St. Louis T rac. C o. applied to the
Inter-State Comm erco Commission for permission to increase Its round
trip faro from Alton to St. Louis from 90c. to $1.
In M a y 1918 the East St. Louis R y. C o. applied to tho Illinois P . U
C om m , for auth. to lssuo $210,300 additional stock and $148,000 1st cons
M . bonds. V. 105, p. 2010.
.
,
„ . ,
S T O C K A N D BONDS—
Date.
Interest.
Outstanding.
M aturity.
C om m on. *10,000,000 ($100).................................. *6.000,000
— .................
See text
_____
F irst p r e f, 6 % c u m _________________
6,000,000 F e b ’ 18, H %
P referred $ 6,0 0 0 ,0 0 0 ( $ 1 0 0 ) 1 -------
E
g
5 % c u m . _________________ I
C o n v e r t b o n d s $ 3 ,0 0 0 ,0 0 0 / 1914
6 J-J
2 ,0 9 4 ,0 0 0 Jan 1 1 9 1 9
($ 1 ,0 0 0 , * 6 0 0 A * 1 0 0 ) . c * t f l P e n n a . C o . fo r In s . o n L . A G r . A n n ., P h ila ..
I tru stee. I n t . a t o ffic e o f c o m p a n y .
C olla tera l tru st m o rtg a g e * 8 ,-1 1902
5 g A -0
8 .0 0 0 .0 0 0 A p ril 1 1932
0 00 .00 0 g o ld (* 1 ,0 0 0 )-C * t f In te ro s t a t S t. L o u is U n ion T r . C o . , T ru s te e .
( o r a t E . W . C la rk A C o ., P h ila d e lp h ia .
E St L A Sub R y im pt d eb s) 1916
5 J-D
75,000 Soo text
$111,000 ($1,000)____c * .t f /I n t . at office o f com pany in East St. Louis.
A G A S» L ouis T r a c C o 1st 1904
5 g F -A
2,500,000 A u g 1 R H 4
co n s o l M . $ 3 ,0 0 0 ,0 0 0 g o ld I n t . a t Illin o is S ta te T r . C o .. E a s t S t. L o u is .
( $ 1 . 0 0 0 ) ........................... c * t f l T r u s te e , or a t N a tio n a l C it y B a n k , N . Y .
A lto n R y A Iliu m first m tg o l 1895
5 g A -O
2 50 .0 0 0 O c t . 1 1939
$ 25 0 ,0 0 0 g ( * l , 000) . . - c * t f / l n t . at B an kers T r . C o . , N . Y . . t r u s t e e .
A lto n R y G a s A E le c tr ic C o / 1899
5 g A -O
2 5 0 .0 0 0 O c t . 1 1939
m tg e
* 5 0 0 ,0 0 0
( $ 1 ,000) / I n t . a t E q u ita b le T r . C o ., N . Y „ tru stee.
g o ld ( c l o s e d ) ________ c * n t f [
N o s in k in g fu n d ; b o n d s c a n n o t b o ca lle d .
E a s t S t L L t A P o w 1st M f 1910 f i g J -D
1 .0 9 2 ,0 0 0 J u n e 1 1940
g . gu ar p A I ($ 1 .0 0 0 ) c * t f ( I n t . a t M e r ca n tile T r . C o ., S t. L o u is . T ru s te e ,
l C h ase N a t . B k ., N . Y . , an d a t c o . ’s o ffic e .
Stock.— T h e 6 % c u m . p r e f. m a y b e e xch a n g e d a t a n y tim e fo r 5 0 % 0/
6 % c u m . p r e f. an d 5 0 % c o m . s t o c k . T h e 6 % p r e f. takes p re ce d e n ce b o t h
as t o d iv id e n d s an d asset* o v e r th e 5 % p r e f. an d th e co m m o n s t o c k .
V.
9 7 . p . 1822; V . 9 8 , p . 3 0 4 , 155. R e m a in in g $ 4 ,0 0 0 ,0 0 0 c o m m o n s to c k re
s erved fo r co n v e rs io n o f 5 % p r o f, s to c k a n d co n v e r tib le b o n d s .
Bonds.— C o ll, tru st b o n d s are re d e e m a ble o n a n y ln t. d a y a t 105 a n d
In t. on 4 w e e k s 'n o t ic e . See V . 7 6 , p . 3 8 2 . T h e c o n v e r tib le 5s aro c o n v e r t
ib le a n y tim e b e fo r e J u ly 1 1918 Into an equalV am ount o f 6 % c u m . p r e f.
stock and in addition 33 1-3% in com m on stock. Tho remaining $906,
000 m ay bo issued at any tim e. Tho East St. Louis A Sub. R y . im
provem ent debentures m ature $10,000 each Juno and D ec. to D ec.
1921. $105,000 havo beon issued, o f which $30,000 have been retired.
$500,000 o f tho A lton Granito A St. L . T rac. first consols are reserved
for prior liens. T h ey are also a Hen on property o f A lton Gas A E lec. C o .,
.
EL PASO, TEXAS.
EL P A SO E L E C T R IC C O .— Incorporated In N ew Jersey and owns t h e
securities o f tho El Paso E lec. R y . C o .. El Paso A Juarez T rac. C o . and R i°
Grande Valley T raction C o ., which d o the entire electric railway, eloctrl0
lighting and power business In El Paso, T e x ., and Juarez, M e x ., and oper
ate an electric railway between El Paso and Ysleta. Franchises In El
Paso oxpiro In 1951 and 1952. Railway franchise In Juarex expires In 1988.
lnterurban almost entirely on private right-of-w ay. In 1909 Increased
pref. from $500,000 to *1,000,000. V . 90. p . 109. In M a r. 1914 increased
authorized amount o f com . stock from $2,000,000 to $3,000,000. V. 98,
p . 839. $525,000 com . stock Is owned b y P ub. Service Investm ent C o.
STOCK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
C om m on, $3,000,000 ($ 1 0 0 ).............
Q-M
$2,914,100 M ar TS 2'A
Pref $1,000,000 6 % u-c ($ 1 0 0 ) -----6 J-J
1,000,000 J a n ’ 18.3%
C ollat trust m tge $1.000,000\ 1902
5 g J-J
1,000,000 Jan 1 19 3 2
($1,000) g o ld ----------------c t f (In t. at State St. Trust C o ., Boston, trustee.
3-yoar gold notes $ l,0 0 0 .0 0 0 i 1917
6 g F-A
300.000 Aug 1 1920
($100, $500, $ l,0 0 0 ) - .c * A r )I n t . at State Street Trust C o ., B oston, trust.
Stock.— $216,300 o f the preferred stock is in treasury.
Bonds.— Collateral trust bonds cannot be called and no sinking fund.
T ho notes are callablo as a whole at 100 and int. on any int. day on 30 d a ys’
notlco. T h ey were Issued to p rovide for additions and im provem ents.
Dividends.— First d lv ., 3 % , on preL stock, was paid Jan. 12 1903, and
3 % paid s.-an. since. On co m ., 1st d lv ., 2 % , M ar. 1910: S ept., 2; In 1911
6 % ; In 1912, M a r., 3 % ; S ept., 3 > *% ; in 1913. M a r., 3 H % : in June 1913
began to pay quar. dlvs. and paid 2 % ; also S ept., 2 % ; D e c., 2 % : M a r. 1914
to Sept. 1915, 2>4% quar.; D ec. 1915 to M a r. 1918, 2 >4% quarterly.
E A R N IN G S .— O f com bined companies for 12 months ending D ec. 31:
Year—
Cross.
N ettafter Tax). Interest.
Sink.Fund
Surplus
1 9 1 7 ............... $1,283,525
$481,755
$64,627
$2,380
$414,747
1916 ------------- 1.110,718
452,154
59.128
_______
393.026
R O A D .— 48.8 miles o f equivalent single track; standard gauge. 84 cars.
Powor station has capacity o f 10,700 k.w .
O F F IC E R S .— P res., Marshall M . Phlnney; V .-P ., Joseph R em lck;
T reas., H enry B . Sawyer; S ec., Hollis T . Gleason; Gen. M g rs., Stone A
W ebster M g t. Assn.— V . 105. p. 497; V . 106, p . 395. 2010.
ERIE, PA.
NORTHWESTERN ELECTRIC SERVICE CO. OF PENNSYLVANIA
O R G A N IZ A T IO N .— Incorp. Feb. 29 1916 in Penn, for the purpose o f
developing the light and power business adjacent to the Northwestern Penn.
R y . C o .’s linos. Leases for 99 years from 1916 the property o f the Peoples
Incandescent Light C o .
Wholesale power Is furnished to the Northwestern Pennsylvania R y . C o .
w h ich w as o w n ed b y th o A lt o n G ra n ite A S t. L o u is T r a c . C o ., w h en th e for the operation o f Its entire lines; to a local com pany for distribution at
m tg e . w as m a d e . $ 5 0 6 ,0 0 0 o f th o b o n d s h a v o been assum ed b y th e A lto n
A lbion, Springboro and C onneautville; to the Conneaut Lake-Exposition
G a s A E le c . C o . N o sinking fu n d s , b u t b o n d s aro s u b je c t t o c a ll o n a n y
Park C o and to
tho Borough o f Conneaut Lake and
In t. d a te a t 110 a n d In t. u p o n 90 d a y s ’ n o t ic e . T h e A lt o n R y . A Iliu m . 1st territory. on east a local distributor forcontract for wholesale power service
sido o f lake. Has a
M.
5s orig in a lly m a tu r e d O c t . 1 1 915, b u t w ere e x te n d e d t o O c to b e r 1 to tho Borough o f G irard. Negotiations were pending in Jan. 1918 for
1939. E ast S t. L o u is L ig h t A P o w e r b o n d s aro g u a r a n te e d , p rln c L
the sale o f power to the Cleveland A Erie R y . C o ., operating between Erie
pal a n d in te re s t, b y e n d ., b y E a s t S t. L o u is A S u b . C o .; c a lla b lo a t 105 a n d
Conneaut, Ohio.
Int. on any int. date on 30 d a ys’ notice. A uth. lssuo unlim ited, but addi and ho offer o f the Service C o . to exchange Its stock fo r Northwestern Penn
T
tional bonds aro Issuablo on ly for 8 0% o f tho cost o f ad d ’ns and Imp’ts, and sylvania R y. stock and bonds was not carried out, through failure o f a
then only when net earnings aro at least 1>$ times lnt. charge on bonds m ajority o f R ailway security holders to accept same. T he directors o f the
ou t as well as those to bo issued.
Servico C o . aro also directors o f the R ailway C o ., thereby effecting joint
.— 0 % p er a n n u m w as p a id q u a rte rly o n old p r e f. fro m Its Issue operation.
M a y 1 1906 u p t o an d In clu din g F o b . 1914. O n n e w p r e f. 1st d lv .— 1 H % —
Capitalization Jan. 1 1918—
Authorized.
Issued.
w a s pa id M a y 1914; A u g ., 1
N o v ., 1
In 1916, F e b ., 1
In C om m on s to ck ...................................................................... $1,500,000
N one
M a y ra te w as r ed u c ed to f i % ( V . 100, p . 143 7 ); sam e ra te q u a rte rly sin ce Second preferred stock, 6 % non-cum ulative________
500,000
t o a n d ln c l. F e b . 1918.
First preferred stock, 7 % cum ulative.............................
500,000 $206,500
E A R N I N G S o f o p e ra tin g co m p a n ie s fo r 12 m o n th s e n d in g D ec. 3 1 :
An additional $100,000 o f first pref. stock has been authorized b y direc
Year—
Gross
N et,aft.T ax. In t.,& c.
Pref. D ies.
Surplus.
tors to be Issued and sold , the proceeds to be used In paym ent for properties
1 91 7 ..............$3,692,471 $1,210,952 $785,382
(3% )$180,000 $245,570 purchased and extensions and betterm ents. $20,000 has been subscribed
191 6 .............. 3,027.699 1,206.925
755,033
(3 % ) 180,000
271,892 and paid, for making $226,500 outstanding.
R O A D , A c .— O p erates 190 m iles o f s in g le -tra ck , o f w h ich 4 m ites
P R O P E R T Y .— 50 miles o f 33,000 volt transmission line between Erie
o p e r a t e d u n d er leaso. H a s 182 passenger ca rs , 4 express c a rs , 829 freigh t and Ilarm onsburg, P a ., with a branch between Erie and Kearsarge, P a .
Didns
iv e d
H;
%
H.
%
live'.
42
(V o l . 106.
E L E C T R IC R A IL W A Y S
D istribution lines in Saegertown, Venango, Cam bridge Springs, E d in boro.
M iddloboro (M cK ea n ), Fairview, N orth Girard, Linesville and Harm onsburg, all in Erie and C raw ford counties, Pa.
„ ,,
O F F IC E R S .— Pres., F. F. Curtze; V .-Pres. & Gen. M g r ., Chas. M .
H atch; Treas., A . A . C ulbertson; S ec., A . O. C hapin.— V . 105, p . 499.
N O R T H W E S T E R N P E N N S Y L V A N IA R Y .
Financing— Plan Fails.— T he offer o f the Northwestern E lectric Service
C o ., o f Penn., to exchange its com m on stock at par for Railway com m on
stock at 3 0% o f par, and to exchange Service C o. com m on stock tor Railway
pref. stock, par for par, was withdrawn through failuro o f a m ajority o f
R ailw ay stockholders to accept same. T he directors o f the Service C o.
have been continued as directors o f the Railw ay C o ., thereby effecting join t
operation. The offer o f the Service C o. to exchange its b % non-cum . 2d
prof, stock at par for the R ailw ay C o .’s 2d m tge. bonds was also rejected.
N o definite action had been taken to Jan. 10 1918 b y the 2d M . (Erie D iv .)
bondholders as to cancellation o f interest now In default.
O R G A N IZ A T IO N .— Incorporated in Pennsylvania In M arch 1911 a®
successor o f the M eadville& Conneaut Lake T ra c. C o ., V . 92. p. 187 (a hold
ing com p a n y), and its controlled com pany, the M eadville T ra c. C o . (V.
p . 262), taking over the entire capital stock o f the M ead ville Conneaut Lake
& Linesville St. R y . ($3 0 0 ,000); C rawford & Erie R y . (3350,000), Feople s
Incandescent Light C o. (8145,000) and Oak Park C o . (820,000). lra n chises in M eadvillo expire in 1944. Interurban franchise perpetual. A ffords
connection for Penn. R R . System with M eadville at Linesville.
,
In the latter part o f 1912 purchased the Erie Traction C o. and the M e a d
ville & Cam bridge Springs Street R y .
. , „ .
Franchises.— There aro 23 franchises, o f which 16 are perpetual, 3 f o r 99
years, and the shortest does not expire until 1937.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
M aturity.
C om m on $1,000,000 ($50).............. - ............................ $1,000,000 ........................
P ref $500,000 ($50) 5 % non-c
...
500.000
First m ortgage $ 1,250,000? 1911
5 g M -S
650,000 M ch 11941
gold ($1,000)_________c*tf\ In t. at Central T rust C o .. N . Y .. trustee.
P eople’s Incandescent L igh t! 1900
5%
D ec 1 1920
C o 1st m tge
t flD o la . C o . T r. Safe D ep . & T itle Ins.C o.,tru s.
1st M (Erie D iv) $1,500,000 t f 1912 5 J -D
250.000 |ep !i H o i ?
2d M (Erie D iv) $ 3 0 5 ,0 0 0 ..tf 1912 See text
§05,000 Sept 1 1947
Erie T rac (Erio D iv ) $500,000/ 1907 5 g J -J
500,000 July 1 1929
K0ld
___________ c * t f ( l n t . at Secur. Sav. & T r. C o ., Erie, Trustee.
C ollat trust notes $165,000/ 1913
6 M -S
165,000 M ar 1 1918
($100, 8500. $ 1 ,0 0 0 ).. . c t f l l n t . at the Sec. Sav. & T r. C o .. E rie-T ru s.
Equipm ent notes $60,000___/ 1917
6 F -A
60,000 See text
(E rie T rust C o ., E rie, trustee.
Bonds.— O f the first m ortgage o f 1911, 8150,000 aro reserved to retiro
prior liens, remaining bonds aro for im provem ents, extensions and acquisi
tions under certain restrictions. Tax-exem pt in Pennsylvania. Subject
to call on any Interest date at 105 and Interest. Annual sinking fund
o f 1% o f bonds out began N o v . 1 1914. Bonds retired to be kent alive.
V. 92, p. 1033, 1436. O f the $1,500,000 1st M . Erie D iv . bonds. $500,000
are resorved to retire the Erio T ra c. bonds and $550,000 for extensions and
betterments and $200,000 aro In treasury. Sink, fun d, 1% annually, com
menced April 1917. In t. at Erie Trust C o ., Erie, trustee. T he 2d M .
bonds bear 2 % int. the first year, advancing 1% yearly t o 5 % . In t. J .-D . at
C olonial Trust C o ., Pittsburgh, trustee. T ho Erie Traction bonds have a
sinking fund o f 820 for overy $1,000 first m tgo. bond , which began July 1
1917 (denom . 81,000, 85,000 and $10,000). The collateral trust notes are
secured by deposit o f $200,000 purchase-m oney m ortgage bonds. I ho
equipm ent notes m ature 810,000 yearly A u g. 1 1918 to 1923.
R O A D .— Operates 10.3 miles o f track in M eadvillo, 15.7 miles between
M eadville and Linesville, including a 2-milo extension to Conneaut Lake
and 40.2 miles between M eadville and Erie. Sidings, 3.1 miles,
lo t a
track, 69.4 miles. Gauge, 4 ft. 8 H in. 70 and 85-lb. girder and T rail.
46 cars (passenger 28, freight and express, 9, work 2, 1 snow-plow, 2 snowsweepers).
E A R N IN G S .— For years ending D e c . 31:
Calendar
Gross
N et
D ies. Interest. &c. Surplus or
Year—
Earnings. Earnings. Rec’d.
Taxes,
Deficit.
.............. ..$ 2 9 6 ,5 6 4 884,324 $49,777 $117,478 sur.$16,623
1916
1915 ........................... 269,027
74,980
---------108,926 clef. 33,946
1914 ............................... 281,403 63,060
________
104,940 d ef. 41,880
O F F IC E R S .— Pres., F . F . Curtze: V .-P . & G en. M g r., Charles M H atch: Sec., A . O. Chapin; T reas., A . A . Culbertson. General office,
Erie, P a.— V . 98, p. 74. 237, 1246; V . 10 5 ,.P -499.
In April 1913 Increased Its auth. com m on stock from $1,000,000 to $2.
000.000. V . 96. p. 1156.
^
^
.. .
.. . ,
Reorganization Plans.— The com pany having been unable to pay the int.
on tho Evansville T erm . 1st 5s due Jan. 1 1917 and on the Evansville &
Eastern E lec. R y . 1st 5s and Evansville & M t . Vernon E lec. R y . 1st 5s due
Apr. 1 1917, the bondholders' com m ittee named below was form ed and de
posit o f the bonds called for. (Seo statement b y com m ltteo in V . 104, p.
952.) A plan o f reorganization is boing prepared which, it is expected, will
not only be favorable to the bondholders but will also bring new Interests
into tho enterprise and provide sufficient funds to rehabilitate tho property
and give it the additional rolling stock needed to develop its maximum earn
ing power. Depositing bondholders who d o not approvo the plan will be
given 2 weeks in which to withdraw on paym ent o f not exceeding 2 % on
account o f expenses o f com m ittee.
rr
Joint Bondholders' Committee.— James T . W alker, Chairman; W illiam n .
M cC u rd y, Earl S. G w in, D . Gregg M cK e e , Albert F . Karges, H enry E .
Jew ett, M arcus S. Sonntag, with O. II. Battin Evansville, as Secretary.
Depositaries: Old State N ational Bank, Evansville, In d .; Pittsburgh Trust
C o ., Pittsburgh, P a ., or American-Southern N ational Bank, Louisville, K y .
STOCK A N D BON DS—
Date.
Interest.
Outstanding. Maturity.
------S I ■154,500 -----------------Com m on $2,000,000 ($100)— -----Pref., $500,000. 6% cu m ..........— J-J
354,900 ..............7555
First and refunding mort-T 1913
5%
See text.
1953
gage $ 5.000,000..............t f (Pittsburgh Trust C o ., Pittsburgh, Trustee.
Notes
- ____ - __t f 1913
6%
52,900 April 1 1918
E va n s'& 'E 'E icc R y 1st m ort-f 1906
5 g A-O
684,000 Apr 1 1936
gage, $750 000. gold ($500|lnt. at American T rust & Sav. C o ., Evansand $1,000 (closed M )c * t f { ville or Pittsburgh T rust C o ., Trustee.
Evans & M t V E lec R y 1st M l 1905
5 g A -O
350,000 O ct 1 1925
$350,000 gold ($1,000) c * t f / Int. at Am or. T r. & Sav. O o ., E t * m v .. Trus.
Evansv Term R y 1st m tgef 1908
6 J-J
295,000 Jan 1 1939
$300,000 gold ( § 1 ,0 0 0 )..t f ( I n t . at A m . T r. & Sav. C o ., E va n sv., Trus.
gu p & 1 b y Evans R ys C o.I, and Ills. T r. & Sav. B ank, C nlcago.
Stock and Bonds.— Pref. Btock can be called at any tim e at par. O f the
$5,000,000 m tgo. bonds o f 1913. $1,331,500 are set aside to retire underlvine issues. $2,868,500 for future requirements and $800,000 were immediately
available, and have been used as collateral for $500,000 E vansville R ys.
5-year 6 % notes.
O f the 6 % notes, auth.. $298,000 had been cer
tified up to Jan. 1 1918 by authority o f the Indiana Public Service C om
m ission, o f which $52,900 sold and outstanding. T h ey are secured
b y $800,000 first and refunding bonds, and all the com m on stock of
the E vansv. H end. & Owensboro R y ., Owensb. C ity R R . and the Hondorson Traction C o . O f T he Evansville & Eastern Electric R y . bonds. $51,000
are reserved for extensions & lmpts. at 8 5% o f cost. Are subject to call,
iu whole or in part, at 105 and interest on any Interest day upon 90 days
notice: $2,500 is payable annually to a sinking fund from 1910 to 1920,
from 1921 to 1936 $5,000 per annum; $15,000 bonds were held in sinking
fund Jan. 1 1918. Sinkingfund o f $10,500 per annum began O ct. 1 1910 on
Evansv. & M t. Ver. Elec. R y ., to bo invested in ten bonds aun. at 105.
Subject to call at any int. period at 110. E vansv. T erm , bonds are rod. at
105 and int. on any int. day at 60 days notice. Sink, fund began 1912.
E A R N IN G S .— F or year ending Juno 30 1917, gross (not incl. Ilon d .
T ra c. and Owensboro C ity R R .) , $274,236; not, S113,816. In 1915-16.
gross, $249,676; not, $110,353.
R O A D .— T he Evansville & Eastern road consists o f 31 miles or track
from Newburgh (from which point it enters Evansville over tracks o f the
Evansville Term inal R y .. 10 miles) to Grandview, including a 4-mile branch
to Richland. T he Evansville & M t. Vernon road consists o f 20 miles of
track from Evansville to M t. Vernon. E vansv. Henderson & Owensboro
comprises 10>4 miles o f track from Evansville to H enderson. T otal length
o f lines, 7 1 H miles. First two roads d o an interchange car-load freight
©rvice with steam roads.
O F F IC E R S .— Pres.. W . H . M cC u rd y: V .-P .. W . A . K och ; V .-P . & G en.
lVTizr W A Oarson: Soc. & T reas., O . II. B attin.— V . 90. p. Ioo2» V . 9.i,
730; V . 96, p. 1156, 1488; V . 97, p . 594, 802; V . 104, p . 952; V . 105, p . 2272.
E S C A N A B A , M IC H ,
E SC A N A B A T R A C T IO N C O .
O R G A N IZ A T IO N .— Reorganization In A ug. 1909 o f Escanaba E lectric
St. R y. and Escanaba Power C o. C ontrols tho Escanaba Pulp & Paper
C o . Does electric light and power business In E scanaba, G ladstone and
W ells. M ich . Is allowed to carry freight.
ST O C K A N D B O N D S —
Date.
Interest. Outstanding.
Maturity.
Stock $500,000...................................................- ...........
$500,000 ....................
1st & ref m tge $600,000 gold ! 1909..........-5 J-J
560,000
Seo text
($1,000) .................. c * . c o t lln t.ca t First Sav. & Trust C o .. M ilw aukee.
Second m tge, $200,000 g o ld / 1909
5 g A-O
200.000 Jan. 1 1934
($100 & $ l,0 0 0 ).c * & r .c p t{M lc h ig a n Trust C o .. Grand R apids, Trustee.
Red. at 103 and Interest___/I n t. at First Trust C o ., M ilwaukee.
Bonds.— 1st & ref. bonds mature $10,000 annually from 1914 to 1933,
Incl., remainder In 1934. $40,000 have been retired. They are subject to
call at 103 and int. on any int. date. M ichigan Trust C o ., Grand Rapids,
rustee. V. 92, p. 1564; V . 103, p. 406.
E A R N IN G S .— For years ending D ec. 31:
Surplus.
Year—
Gross.
N et.
*Oth. In c.
Interest.
$56,779
1 9 1 6 ...................... $142,141
$77,023
$18,614
$38,857
51,625
191 5 .................. .. 124,784
71,997
10,931
31,303
♦Earnings from Escanaba Pulp & Paper C o.
R O A D .— Owns and operates stroet railway In Escanaba and an Inter
urban road to Gladstone, which was placed in operation in July 1910. Power
plant capacity. 7,900 h .p . A now dam on Escanaba R iver, providing
3,400 additional h .p ., was com pleted Jan. 1 1916.
O F F IC E R S .— Pres., J. K . Stack; V .-P ., J. C . Kirkpatrick; Sec. & G en.
M g r., P . L. U tley: Trea3., M . N . Sm ith, all o f Escanaba.— V . 103. p. 578.
$17 000 are resorved for extensions and im provem ents. Subject to call on
April 15 1922 at 105. N o sinking fund.
E A R N IN G S .— F or year ending June 30 1917. gross, $31,900; net.
$13,110. In 1915-16. gross. $30,348: net, $10,981.
R O A D .— Operates 6 miles o f street railway. V. 90. p . 1363.
EU REKA, CAL.
H U M B O LD T T R A N S IT C O .
, „ .. .
. T
O R G A N IZ A T IO N .— Incorporated In California July 31 190J.
ST O C K A N D B O N D S—
Date.
Interest. Outstanding.
Maturity.
Stock $1,000,(00 ($100)_______________________
$465,000 - - - - - - - - -
1st m tge $1,000,000 ($1,000)1 ____
5 g A -O
176,000 Oct 1 1934
g o l d ........................ c & r .n t f/U n io n Trust C o . of San Fran., Trustee.
Bonds are not subj. to call. A sk. fd . o f 2% o f bonds out began O ct. 1910.
In addition to am ount reported outstanding, $48,000 of bonds aro pledged
as collateral for a 820.000 noto to tho First N ational Bank o f Eureka and a
$4,000 note to W m . Butterworth.
E A R N IN G S .— F or years ending D ec. 31:
_
.
Cal. Year—
Gross.
N et (after Taxes). Deductions.
Deficit.
1 9 1 7 .. .............- .............$81,643
$13,481
$15,912
$2,431
1 9 1 6 .. ............................ 78,181
3,870
14,513
10,643
ROA D .— Comprises 13 miles o f track in city o f Eureka. 45-60-lb. T rails
O F F IC E R S .— Pres., W m . Butterworth; V .-P ., L loyd Baldwin? Sec. and
T reas.. H orace R . Hudson; M g r., J. W . Hale.
(1) H e n d e rs o n T r a c t io n .— Street railway.
A cquired b y Evansville R ys. In April 1913. V . 98. p. 1488.
O R G A N IZ A T IO N .— Incorporated In K entucky F eb. 22 1907 as a suc
cessor to tho Henderson C ity R y .. sold at foreclosure on F ob. 18 1907.
Franchise extends to 1936.
STOCK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
I h r t ' $mo?tgage$10$15b'.666f 1907
$ 10&0001 Apr.15‘ 1927
(2) O w e n s b o r o C ity R a ilro a d .— Street railway.
Acquired b y Evansville R ys. in April 1913. V . 96, p. 1488. An exten
sion dow n tho Ohio River Is contem plated. V . 90. p. 1364.
O R G A N IZ A T IO N .— Chartered In 1886. Franchise runs till 1936 and
to operate street, railway in said city
Arrangements wero mado In N o v . 1917, it is stated, through which the
holders o f tho $200,000 6 % Gen. M tgo. bonds will forego their interest for
the next three years,tho S36.000 so saved to bo used in Im proving tho system .
S T O C K A N D B O N D S—
Date.
Interest. Outstanding. Maturity.
C om m on. $75,000 (par $ 5 0 )-- - - - ;— --—
oA o’nno^Pa..” 'V i b a o
1st m tge., $200,000, goldl 1902
5 g J-J
200,000 Jan. 1 1932
($1,000). c& r, not red. . tf(In te re st at Louisville 'lr u st C o ., Trustee.
General m ortgage,$200,000tf/ 1910
6 M -N
200,000 M a y 1 1933
\ A m e r.T r. & Sav. C o.. E vansv.. lud.. Trustee
E A R N IN G S .— F or year ending June 30 1917, gross, $67,620; not, 823,
499. In 1916-17. gross, $65,475; net. $23,419.
R O A D .— Owns 1 2 ^ miles o f street railway in Owensboro and suburbs;
56 and 70-lb. rail; 30 m otor cars, doublo W e st.. 68 O . E . 800: 7 trailers.
25 10-ton and 5 25-ton coal cars. Power house 600 k . w . ca p a city. V .9 0 :
p . 1364; V . 105, p . 2273.
gives exclu righ
sive ts
E V A N SV IL L E S U B U R B A N & N E W B U R G H R Y .
O R G A N IZ A T IO N .— Incorporated in Indiana In D ec. 1888, with a per
petual charter. Pass, business hauled by electricity and freight b y steam .
Does a car-lot freight and express business, lia s private rig h t-of-w ay .
STOCK A N D BON DS—
D ate.
Interest. Outstanding. M aturity.
ino4
s y jfT "
!| ° :° o o A i r v i s a
Bonds.— A sinking fund o f $2,500 per annum com m enced July 1 19)0,
which will retire bonds at, 105. All or any part o f bonds redeemable
after 15 years at 105. $20,000 have been retired. V . 96, p . 1365.
E A R N IN G S .— F or year end. D ec. 31 1916. gross, $139,962; not. after
taxes, 838,661. 1917, gross, $194,290; net, after taxes, $65,265. ’ In 1916,
gross, $139,962; net, after taxes, $38,661.
R O A D .— Operates 25 miles o f track from Evansvlllo to N ew burgh, with
a branch o ff the main line through Stevens Station and Chandler to B oonvllle; has also 5 mll&s o f side-track; total, 30 miles. 70-lb. 1 rails.
O F F IC E R S .— P r e s ., ................... : V .-P ., Chas. W . C ook; Sec. & Gen.
M g r., Gus Mulhausen.— V. 83, p. 271; V . 96. p. 1365.
•
E V A N S V IL L E , IN D .
E V A N SV ILLE R A IL W A Y S C O .
,
O R G A N IZ A T IO N .— Incorporated In Indiana In August 1907 to control
the Evauavllio & Eastern Electric R y .. the Evansville & M t. Vernon E lec
tric R y . and the Evansville Term inal R y .
In A pril 1913 absorbed these
lines outright and acquired the capital stock o f the Henderson T ra c. C o.
and the Owensboro C ity R R . V . 96, p. 1488.
On A ug. 25 1911 the Evansville Henderson & Owensboro R y . was Incorp
In Indiana (com . stock auth. and o u t., $50,000— ail owned b y E vansv
R y s.; pref., $250,000 auth., $203,000 out.) to build a line from Evansville
to Henderson and ultim ately to Owensboro. N ew com pany has leased
8H mile* o f Illinois Central tracks between K v a m ville and Henderson and
has electrified same. Line was placed In operation from Evansville to
Henderson July 28 1912. V. 93, p. 730.
6g‘ A - o "
F A IR M O N T , W . V A .
M O N O N O A H E L A V A L L E Y T R A C T IO N C O .
O R G A N IZ A T IO N .— Organized In W . V a. on M a y 16 1912. Is a co n
solidation o f Fairm ont & Clarksburg T ra c. C o .. Fairm ont & N orthern
T rac. C o . and Clarksburg & W eston Elec. R y . On D ec. 1 1915 acquired
tho Fairm ont Gas C o. V. 101, p. 1465. On July 1 191/ absorbedaby
merger the Fairm ont & M annington T rac. C o ., form erly controlled, that
c o .’s S600.000 5 % pref. m ortgage bonds dated Jan. 1 1906 (all ow n edjby
M onongahela C o .) being canceled. In Juno 1917 acquired control o f the
Kanawha T raction & Electric C o ., which seo.under “ Parkersburg, W . V a.,
through ownership o f 96% o f its stock. V .- 105, p. 2.10.
l> ^
Owns and operates a system o f electric railways In tW . V a. andXOhlo
exceeding 180 miles o f track; also electric lighting and gas plants and coal
mining properties. Franchises in Fairm ont ar
perpetual. I n / other
Ma y , 1918.
ELECTRIC RAILWAYS
43
OFFICERS.— Pres.. H. Wurdack, St. Louis; V.-P. Sc Treas., Horace W .
cities and towns extend for 50 years, t i shortest oxplring In 1952. Inter
lo
urban lines on private right of way. F r a n c h is e s ovor county roads and Beck, St. Louis: Sec., Douglas Hudson, Fort Scott; Mgr., A. L. Abington,
Ft. Scott.— V. 77, p. 1294.
bridges in Marlon and Harrison counties aro perpetual.
In Jan. 1918 issued S3,000,000 1-year 6 % notes to provide for the
erection and equipment of a 20.000 k. w. power plant and for other add’
ns
FORT SMITH, ARK.
and imots. V. 100, p. 396.
FORT SMITH LIGHT & TRACTION CO
O u ts ta n d in g .
M a t u r it y
STOCK A N D BONDS—
D a te .
In terest.
Standard Gas & Elec. Co., a holding company under the control and
SH,278.087 Apr'18,1 K management of I . M. Byllesby & Co., Chicago. 1 1 , owns $949,900 com.,
--Q-J
C o m m o n S12,000.000 (S25)—
I
1.
3.3S9.798 Apr ’
18,114
Prof. 6 % cum. S4,000,000(825)--6 Q-J
3.750.000 Juno 1 1942 S79S.700 pref. stock. $150,000 1st M . bonds and 3300.000 deb. 6s of the
First <eref M. 515,000,000, gl 1912
t
5 J-D
.
(8500 & $1.000)--C*&r*tf(Fidelity Tr. Co., B l . , Trus. Iut. In N. Y. com pany. I Z A T I O N . — Incorporated In Arkansas on April 13 1903 as a con
at.
O RGAN
Fatrm Sc Clarksb 1st M, 82.-1 1903
5 g A-O
2.500.000 Oct 11938 solidation of the Ft. Smith-Van Buren Light <eTransit Co. and the Ft. Smith
f
500,000.
g (31,000)--o*ntf ( n , at Guaranty Trust Co.. N. Y.. Trustee
lt.
Trac., Lt. & Pow. Co. Owns a l physical property, contracts, rights and
l
One-year notes, 85.000,0001 1918 6 g F-A
3,000,000 Feb 1 1919 franchises of Van Buren Fuel & Light Co. (now dissolved). Does the entire
(81,000) gold_________ c/Fldclity Trust Co., Baltimore, Trustee.
electric-light, gas and street railway business of the city, and the electricS to c k . — Prof, stock i convertible into common stock, share for sharo. In
s
June 1917 the auth. capital stock was increased from 89,500,000 com. and light and gas business of Van Buren: operates an lnterurban lino between
Buren. In 1917
83,000,000 pref. to 812.000,000 com. and 84,000,000 prof.; par valuo tho Ft. Smith and Van corporations whichcontracted to supply electricity to
two public service
supply towns, villages and coal
of tho shares was changed from 8100 to 825 each, and 6 % pref. stock was mines to the south and cast of Fort Smith. Street railway, gas and electricissued in place of tho 5 % stock, tho preferred shareholders being given tho light fr a n c h is e s in Ft. Smith expire in 1955. Gas and electric light fr a n
right to convert their stock into 6 % stock on the basis of 3 9-25 shares of c h is e s in Van Buren expire in 1957; street railway in 1962.
6 % stock (par 825) for each sharo of 5 % stock (par 8100). V. 105, p. 290.
R a te I n c r e a s e . — On Jan. 1 1918 increased rates for natural gas. The city
Application has been made to l s both the com. and pref. stocks on the has protested and the matter i now in the courts.
it
s
N. Y, Stock Exchange.
In Nov. 1917 increased fares on South Fort Smith line from 5 to 10 cents.
B o n d s . — or tho 1st (& r
ef.) bonds, 82,500,000 are reserved to retire prior
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
liens and 88,750,000 aro for add'ns and extens. under certain restrictions,
8950,000 ........
lied, at 105 and lnt. on any lnt. day on or after Juno 1 1922. Tax refund. Common. $1,500,000 ($100)......... -......
Q-J 15
1.410.000
See text
In Pa. See V. 102, p. 1346; V. 94, p. 1508. Fairmont & Clarksburg 1st Prei $5,000,000 ($100) 7 % c u m ...
5 g M-S
2.531,000 Mar 1 1936
mtgo. bonds subject to call at 105 and int. Listed on Philadelphia Stock First mortgago $6,000,000 gf 1911
s f ($500 and $1.000)___c*t Int. at Illinois Trust & Savings Bank, Chic.,
( Trustee, or at agency ot co. in N.Y. or Bos.
X V ' r f -The notes aro tho direct obligation of the co. Bed. a l or in
.(/s—
l
0 M-N
300,000 M a y 1 1918
part at 100 and int. on 30 days' notice. The remaining 82,000,000 notes Debenture notes. $300,000... 1913
Stuck a n d B o n d s . — 'Pref. stock i red. at any time after 3 years from issue
s
may bo issued at any time, but aro not to mature beforo Feb. 1 1919, nor
later than Feb. 1 1920. While any notes of this issuo remain outstanding, at 110 and accrued dlv. Remaining 1st M. bonds can only be Issued for
ot
no bonds may be issued except to retiro notes, nor may tho co. issuo otiier 75% of c s , of additions, improvements and extensions under certain re
al
obligations or incur debt other than notes or accounts payable; this co. strictions. See V. 92, p. 956. Subj. to c l as a whole or in part on any
may, however, incur debt necessary for contracts with the U. S. Govern lnt. day at 105 and lnt. Cash sink. fd. oi 1 % yearly 1914 and 1915. 1)4%
yearly 1916 to 1918, 2 % yearly 1919 to 1923 and such ratable amounts
ment. V. 106, p. 396.
„
,
_
,
D iv i d e n d s .— 5 % was paid on the pref. stock to June 30 1917, when tho thereafter as by July 1 1935 will make total sk. fd. 4 0 % of bonds certified.
dlv. rate was changed to 6%. See remarks abovo. Initial div. on common V. 92, p. 956. $166,000 have been retired.
D iv id e n d s . — Pret. i cum. trom Jan. 1 1912.
s
1st dlv. on pref.— 1)4%—
— 2 % — paid Jan. 1913; July 1913, 1)4%; Oct., 1)4%. In 1914, Mar.,
1)4%: July, 1)4%. In 1915, none. In 1916, 4%. In Jan. 1917 paid paid April 15 1910; July. 1)4%: Oct., 1)4% and 154% quar.to and Includ
1 % cash and an extra dividend of 6 % in common stock; April, 1)4%; ing April 1913: none since.
E A R N I N G S . — For years ending Dec. 31:
P.
®
July. 1)4% regular, and in Aug. an extra dividend of 1)4%; Oct., 1)4%.
C a le n d a r Y e a r —
G ro s s .
N e t , a f. T a xes. I n t. d i g s . (N et)
D eficit.
In 1918. Jan.. 1)4%; April, 1)4%.
1917-------------$508,670
$154,266
$181,912
$27,646
E A U N I N G S . — For year ending Dec. 31:
,
, ,
154,179
167.788
13,609
1916------------ 486,704
Y ear—
G ro s s .
E x p . & T a xes.
N et.
F i x e d C h g s . S u rp lu s .
L a test E a r n in g s . — 12 mos. end. Mar. 31 1918:
1917 _______83,046,582 $1,638,294 SI,408,288 8454,926 8953,362
3200,088
$185,872
$14,216
1916
______ 1,582,786
724,822
857.964 302,861
555,103 1917-18---------- $591,107
R O A D . — Owus and operates 32 miles or track on 12 miles of streets in
H O A D . — Operates (exclusive of Kanawha Traction & Electric Co.,
al
which see under “Parkersburg, W. Va.”) street railways in Fairmont, Ft. Smith and suburbs. Standard gauge, 60-lb. and 80-lb. T r i . 41 cars.
Owns a park of 110 acres. Also gas works tor distributing natural and arti
f c a gas (artificial gas plant i hold in reserve) with 78 miles of mains, and
iil
s
electric power and lighting plant— generating capacity. 4,600 horse-power
and pole lino of about 161 miles.
OFFICERS.— Pros., A. S. Huey; V.-P., H. M . Byllesby; Vice-Pres. Sc
operation, 111.48 miles. An extension from O ’
Neil to Wolf Summit,
2
miles, was completed Nov. 1 1916. Other extensions (work to cost Mgr., D. C. Green; Sec., John Brizzoiara; Treas., R. E. Ballard; Gen. M grs.
I
about 83,000,000) are contemplated. Standard gauge. 80-lb. T r i
a l I . M . Byllesby & Co., Chicago.— V. 102, p. 1060; V. 106. p. 1577.
Tho co.'s new steam power plant, which i to bo locatod about 5 miles north
s
of Fairmont, W. Va., w
ill, i i estimated, cost about 82,000,000 and will
t s
FORT WAYNE, IND.
have an ultimate capacity of 50,000 k. w.; i i i l installation, 20,000 k. w.
nta
FT. W A Y N E & N O R T H E R N I N D I A N A T R A C . CO.— A trolley road.
OF F I C E Its.— Chairman of Board, S. D. Camden; Pras., Jas. O. Watson;
Controlled by same Interests as tho Ohio Electric Ry. and the Terre
V.-P. Smith Hood; Sec. & Treas., Walton Miller; Gen. Mgr., E. B.
Moore; And., O. F. Lough.— V. 105, p. 181. 290, 1209, 1522, 1802; V. 106, Haute Indianapolis & Eastern.
O R G A N I Z A T I O N . — lncorp.In Indlanaon Feb. 13 1911 to take over the
p. 396, 925, 2 1 2 3 . _________________
Ft. Wayne Sc Wabash Valley Trac. Co. per plan In V. 92. p. 394, 594.
The Ft. Wayne Si Wabash Valley Traction Co. had previously acquired
FARGO, NORTH DAKOTA.
through consolidation or purchase the following companies;
NORTHERN STATES POWER CO.— FARGO-MOORIIEAD DI Ft. Wayne Marlon & Bluffton Tr.Co. Lafayette Street Ry.
Ft. Wayne EL Lt. & Power Co.
Logansport Railway Co.
VISION (STREET RAILWAY).
.
Logans. Roch. & Nor. Trac. Co.
O R G A N I Z A T I O N . — Fargo & 5foorhead Street R y was Incorporated Ft. Wayne Sc Southw. Trac. Co.
Wabash-Logansport Traction Co.
July 19 1902 in North Dakota. In April 1916 the Northern States Power Ft. Wayne Traction Co.
Wabash River Traction Co.
Co. acquired a l of tho physical property. Seo V. 102, p. 1441, 1643. In Ijafayette & Logansport Trac. Co.
l
Also controls Fort Wayne Power Co., Carroll Electric Light Co. and
Juno 1912 now 25-year franchises were granted in Fargo, Moorhead and
one-fourth interest In the United
Dilworth. Operates in Fargo, N. D., and Moorhead, Minn, and an Wabash Valley Utility Co. Owns
lnterurban to Dilworth. Minn., a total of 15.584 milra. Standard gauge. Tractions Coal Co. which owns and leases valuable coal lands to insure the
70-lb. T r i . General Managers, H. M . Byllesby & Co., Chicago, 1 1 company an adequate supply of coal (seo Shirley Realty Co. of Indiana In
al
1.
V. 104. p. 1805).
V. 105, p. 2099.
_______ __________
Furnishes electric light In Ft. Wayne, Roanoke and Delphi; municipal
fr a n c h is e s extend to 1935 and 1998. except In Ft. Wayne, which tor more
FISHKILL-ON-THE-HUDSON, N. Y.
than J4 of street railway aro perpetual, the balance being tor outlying exten
EISHKILL. E L E C T R I C R A I L W A Y CO.— A trollev road.
sions aud extending to 1937. Lighting fr a n c h is e s in Ft. W. extends to 1935.
Leases tho Citizens’St. HR., L Sc P., at a rental of 88,255 per annum.
D e f a u l t — R e o r g a n iz a tio n P r o p o s e d . — Int. due Sept. 1 1917on SI,059,000
1st and r f 5 % bonds and $1,164,000 6 % collateral notes of the Ft. Wa y n e
e.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
& Nor. Ind. Trac. Co., and on the $6,966,000 Ft. Wayne S Wabash Valley
c
Stock, 350,000... ......... .............
*50.000 ........
t
First mortgage, 850,000____ 1896
0 J-J
50.000
July 1925 5s was defaulted. In tho opinion of the management i will be necessary to
t
E A U N I N G S . — For year ending Dec. 31 1916, gross, 856,130; net, after reorganize the parent co., and to reduce the bonded debt of i and some of
t
taxes, S13.621; other lncomo, 832; lnt , rentals. &c., $12,000; sur., $1,653. i s constituent cos., particularly tho Ft. Wayno & Wab. Val. Trac. Co. and
.
Lafayette & Logansport Trac. Co. See V. 105. p. 1103.
H O A D . — Owns 4)4 and leases 3 miles. Total, 7) miles.
4
F o r e c lo s u r e S u it.— On Dec. 5 1917 the Central Tr. Co., as trustee, brought
OFFICERS.— Pres., John T. Smith; V.-P., VV. J. Conklin; Sec., VV. H
foreclosure suit against the co. because of default on Sept. 1 1917 int. on
Southard; Treas., G. W. Patterson.
1st & r f 5s and 0 % c l , notes.
e.
ol
C o m m itte e fo r N o t e s . — Geo. W. Davison, James C. Brady, Henry Sander
son; Sec., Cnas. E. Sigler, 54 Wall St., N. Y.; depositary. Central Trust
FITCHBURG, MASS.
Co. of N o w York.
FITCHBURG & LEOMINSTER STREET RY.
C o m m itte e fo r F t . W a y n e & N o r . I n d ia n a T r a c . 1s & R e f. 5s, P r e f . a n d
f
In April 1905 absorbed tho Leominster Shirley & Ayer Street Ry. through
exchange of stock, share for share. V. 80, p. 1478. In Sept. 1907 Mass. C o m m o n S tock h old ers a n d H o ld e r s o f D iv id e n d C e r tific a te s . — W m . A. Tucker,
HR. Commission sanctioned Increase In stock from $450,000 to 8700,000, Thos. E. Murray, J. Levering Jones, Jay Cooke, Randal Morgan, Henry
new stock to bo issued at 110. Companv then petitioned Commission to Sanderson. Depository. Central Trust Co., N e w York.
C o m m itte e f o r F t . W a y n e & W a b . V a l. T r a c . 5s.— P. M. Chandler, Chair
allow stock to be issued at 100 (V. 85, p. 722) but in Sept. 1908 Commis
man; E. VV. Clark, C. S. Gray, A. A. Jackson, John H. Mason, O. S. VV.
sion denied application. V. 87. p. 812.
_ , ,
Packard, R. Lancaster Williams; Sec., J. K. Trimble, Franklin Bank Bldg.,
STO C K . B O N D S , S ee. —
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Stock $700,000 ($100).................----S450.000
See text. Phila. Depositories. Commercial Trust Co., Pbila., and Fidelity Title &
Trust Co., Pittsburgh, Pa. V. 105, p. 1419.
Fitch & Leo con mtge, $350,-1 1901 4)4 I-A
1
300,000 Fob 1 1921
C o m m itte e f o r L a fa y e tte & L o g a n s p o r t l f M t g e . 5s.— Rowland Comly,
s
000 ($1,000)...... .... lint, at Boston Safe Dop. & Tr. Co., Trustee.
Chairman: Col. Sheldon Potter, W m . B. Whelen and Edw. V. Kane,
L S & A 1st mtgo, $100,000 1905 5 g F-A
100,000 Fob 11921
l
gold ($1,000)....... c*( Int. at Boston Safe Dop. Sc Tr. Co., Trustoe. a l of Philadelphia. Depositary: Tho Logan Trust Co., Phila. V. 105.
.
)
.
IGuar. p. & I by Fitch. & Loom. Streot Ry. I. 1522; V. 106, p 296.
.
F a re I n c r e a s e . — -On Jan. 15 1918 was auth. by the I.-S. C. Comm, to
D iv i d e n d s . — For many years up to and Incl. 1900-01. 8%; since, 6 % p. a
.
t
R O A D . — Owns 41.51 miles of track. Road extends to Leominster, incroa.se i s passenger fares 15%.
M a tu r ity .
In terest.
O u ts ta n d in g .
STOCK A N D BONDS—
D a le .
Lunenburg, Shirley and Ayor. 31 closed passenger cars, 24 opon passenger
........$4,000,000
Common, 84.000,000 ($100)___
cars. 3 express cars and 6 snow plows.
Sea text
Q-M
2.500,000
Pref,6%(cum),$4,000,000(8100) ...
E A U N I N G S . — For years ending Dec. 31:
Dividend scrip____________ ____
________abt.75,000
C a l. Y r . G ro s s . N e t , a f t . T a x . O ther I n c .
In t.
D iv id e n d s .
S u r p lu s .
5 M-S
1.059.000 Mar 1 J931
1917 ..$402,180
$87,436
$1,372
$59,468
S27.000
82,340 1st Sc ref mtgo $15,000,000. tf 1911
6 g Md3
1,164,000 M a r 2 1919
1916 .. 346,573
95,506
1,805
57,767
27,000
12,604 Coll notes $1,200,000 (Sl.-f 1914
000) red at 100 & int on 30( Central Trust Co. N e w York, Trustee.
OFFICERS.— Pres., Supt, and l'urch. Agent, W. VV. Sargent; V.-P.
days’ notico_________ c*l
H. 1 Wallace; Clerk and Counsel, C. F. naker; Treas., U. N, Wallis, a l of
.
l
6,900.000 Mar 1 1934
Ft W & W Val Tr 1st cons M l 1904
5 g M-S
Fitchburg.— V. 87, p. 812: V. 103. p. 2238; V. 104, p. 663.
$7,500,000 g ($1,000) _c*tf /Int. at Commercial Tr. Co Phila., trustee.
Ft VV Sc VV Vail Tr car trusts—
See text
Series “A ($1,000 oach).tf___
5 F-A
15.000
FORT DODGE, IOWA.
FORT DODOE DES MOINES & SOUTHERN RR.— See “ Railroad and 1 1VV Sc N Ind Tr—
5
F-A
25.000
See text
Series “A ” (81,000)...........
Industrial’ ’ section.
Series " B ” ($1,000 each).tf___
5 M-S
10.000
See text
Wabash Riv Tr Co 1st mtge/ 1901 5 g F-A
275.000 Aug 1 1931
FORT SCOTT, KAN.
$350,000 ($1,000) g -.*ntf\Int. at N. Haven Tr. Co., N. Haven, trustee.
THE FORT SCOTT OAS & ELECTRIC CO.
.
Ft Wayne Tr mtge $1,500.-/ 1899 4 g A-O
29.000 Oct 1 1929
Receiver.— In April 1918 we were informed that this company was in
000gold ($1.000)____ c*tf lint, at Guard. Tr. Co., Cleveland, Trustee.
tho hands of a receiver. N o later information.
Lafayette Streot Ry 1st intgej 1893
5 K J-D
225,000 June 1 1923
O R G A N I Z A T I O N . — Incorporated in Kansas In 1900. and I successor
s
($i.()00 each) $225,000c* tflint, at Real Estate Tr. Co.. Phila.. Trustee.
to the Fort Scott Electric Light & Power Co., Citizens' Electric Streot Ry.. Lar Sc Log Tr 1st M $1,000,-1 1906
5 g J-D
849.000 June 1 1936
Fort Scott Steam Heating Co. and Fort Scott Gas Co. F r a n c h is e expires
000 g ($1,000) gu p & Ic* tflint, at Guar. Tr. Sc S. D. Co., Phila.. Trustee
April 23 1922. Operated by tho Light Sc Development Co. of St. Louis, Mo. Ft W M & B 1st M $400,000/ 1905 5 g J-J
400.000 July 1 1935
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
gold ($1,000) guar p Sc i tf lint, at Guar. Tr. & 3. D. Co .Phila., trustee
_
Stock $350,000 ($100)....... ............
$350,000 ........
Ft W Power Co mtge.... tf/ 1907
5 M-N
57.700 Nov 11937
1st mortgago $250,000 gold! 1903
5 g A-O
150,000 April 1 1922
lint, at Guar. Tr. Sc S. D. Co..Phila.. trustee.
($500), sinking fund.c*ntf/Int. at Chicago Title Sc Trust Co., Trustee. Bridge bonds_____________ ____
______
32,000
------Her mtgo $300,000 ($500) nt f f___
6%
150,000 ......... Paving bonds_____________ ____
______
149,732
------tint, at Vandeventer Tr. Co., St. Louis, Mo.
S lo e s . Both stocks are listed on Phila Stock Exch.
—
d . 94, p.826.
B o n d s . — Of the 1st M. bonds, $50,000 have been retired. Sinking fund
B o n d s . — Of tho 1
st Sc r f mtge., $1,941,000 are pledged under tho
e.
began Apr. I 1908 as follows: In 1908 and 1909, $3,500 per ann.; in 1910 and collateral notes of 1914; $8,807,000 are reserved to retire underlying
1911, 34,000 per ann.; In 1912 and 1013, $4,500 per ann.; In 1914 and 1915. bonds and remainder for acquisitions, extensions and additions. Sub
$0,000 por ann.; In 1916 and 1917, $7,000 per ann.; and from 1918 to 1921 ject to call as a whole o l any interest day at 105 and int In addition
i
Ic
n l., 310,000 por annum.
4
to bonds noted abovo there aro $3,500 lost bonds of tho Loganspt Ry. outR O A D . — 9 miles of track In Fort Scott.
standlng, duo Sept. 1 1929. For liens of various issues see V. 105, p. 1103.
[Vol. 106
ELECTRIC RAILWAYS
44
T h e F b . W . & W . V . co nsols o f 1904 a re n o t s u b je c t to c a ll before m a t u rit y .
T h e y a re liste d on P h ila . S to ck E x c h . T h e W a b . R i v . T r a c . C o . 5s o f 1901
a re s u b je c t to c a ll a t a n y tim e a t 105 & In t . L a fa y e tte & L o g a n s p o rt 1st
M . is closed; no m ore b o n d s c a n bo Issued .
T h e L a fa y e tte S t. R y . 1st M . 6s w ere e xte n d e d fo r 10 y e a rs to J u n e 1
19 23 a t 5 1 4 % In te re st.
F t . W a y n e & W a b . V a l. c a r t ru s ts a re g u a r., p . & 1., b y e n d . b y F t . W a y n e
& N o r . In d . T r a c . C o . T h e y m a tu re $ 5,0 0 0 s .-a . to S e p t. 1 19 19 . T ru ste e
Is F id e lit y T r . C o ., P h ila . T h e P e n n . C o . fo r In s . on L iv e s & G ra n tin g
A n n u itie s Is tru ste e o f F t . W . & N . I . T r a c . c a r tru s ts . S e r. " A ” m a tu re
$ 2,0 0 0 e ach F e b . a n d $ 3,0 0 0 e ach A u g . to F e b . 1 9 2 3 . S e r. “ B ” m a tu re
$ 1,0 0 0 s .-a . to M a r . 15 1923.
T h e notes o f 19 14 a re secured b y $ 1 ,9 4 1 ,0 0 0 1st & re f. 5 % b o n d s. A n
a d d itio n a l $ 50 0,0 00 o f notes m a y be Is s u e d , b u t o n ly w it h th e a p p ro v a l
o f th e C o m m issio n a n d u n d e r th e term s o f th e m o rtg a ge s e c u rin g the
b o n ds pled ged as c o lla t e ra l. V . 9 8 , p . 1156 .
D i v i d e n d s . — O n p re f., 1 H % q u a r ., fro m o rg a n iz a tio n to S e p t. 19 12.
In
M a y 19 13 a s c rip d iv . o f 3 % w as p a id , c o v e rin g d lv s . p a y a b le D e c . 1912
a n d M a r . 1913. See sta tem en t In V . 96 . p . 1422. N o ne sin ce .
R O A D .— O perates 209 m . m a in t ra c k c o n n e ctin g F t W a y n e , H u n t in g
to n , W a b a sh . P e ru . L o g a n s p o rt, D e lp h i, L a fa y e tte a n d B lu fft o n ; a lso lo ca l
lino s In F t . W a y n e , W a b a sh , P e ru . L o g a n s p o rt a n d L a fa y e t t e . T o t a l t ra c k ,
220 m ile s. A t L o g a n s p o rt, P e ru , W a b a sh a n d B lu fft o n c o n n e ctio n Is
m ade fo r In d ia n a p o lis o v e r tra c k s o f In d ia n a U n io n T ra c t io n C o . I n M a y
1906 began th ro u g h se rv ic e betw een F t . W a y n e a n d In d ia n a p o lis o v e r
tra c k s o f U n io n T r a c t io n C o . o f In d . See V . 8 2 , p . 1 1 0 1 . R a lls , 6 0 , 7 0 .
72 , 80 a n d 9 0 -lb . O w n s 2 p o w e r houses a n d 4 p le a su re p a rk s . O w ns
180 p a ss, ca rs a n d 60 o th e r c a rs.
R E P O R T . — F o r c a le n d a r y e a rs e n d in g D e c . 3 1 :
C a le n d a r
G ross
E xp en ses
N et
I n te r -
B a la n c e ,
Y ea r—
R even u es.
an d T axes.
R even u es.
est.
S u rp lu s .
“
$ 1 ,1 6 1 ,7 8 6 $ 6 1 5 ,9 0 0 $ 5 8 4 ,2 74 $ 31 ,6 2 6
1 9 1 6 ............................. $ 1 ,7 7 7 ,6■8 6
1 ,0 70 ,6 9 3
5 8 3 ,9 1 2
5 8 2 ,5 5 5
1 .3 5 7
1 9 1 5 ............................. 1 ,6 5 4 ,6 0 5
_______________________________
1 ,1 2 1 .3 3 8
7 1 7 .0 5 4
5 7 5 ,0 1 2 142.042
1 9 1 4 ............................. 1 .8 3 8 .3 9 2
L a t e s t E a r n i n g s .— F o r 6 m os. e n d in g Ju n o 3 0 1 9 1 7 , g ro ss, $ 9 7 8 ,0 4 0 ,
g a in st $ 8 4 8 ,76 2 in 19 16; n e t, $ 2 9 6 ,3 5 5 in 1 9 1 7 . a g a in s t $ 30 5 ,0 5 2 .
O F F I C E R S . — C h a irm a n o f-B o a rd , J . L e v e rin g Jo n e s; P r e s ., R o b o rt M .
F e u s te l; V . - P . , T re a s . & S e c ., I I . E . V o rd e rm a rk , F t . W a y n e ; A s s t. S e c .,
H . J . A lk e r, P h ila .— V . 104, p . 1800; V . 1 0 5 , p . 909, 1 1 0 3 . 1 4 1 9 , 152 2,
19 9 8, 2 2 72 ; V . 106 , p . 2 9 5 , 1126 .
FORT WORTH, TEXAS.
N O R T H E R N T E X A S E L E C T R I C CO.— A holding company.
O f th e c o m m o n s to c k , $ 50 0 ,0 0 0 Is o w n ed b y P u b . S e rv ic e In v e s t . C o .
O R G A N IZ A T I O N . — In c o rp o ra te d In M a in e N o v . 16 1905 a n d o w n s the
e n tire s to c k a n d p a r tic ip a t in g b o n d s o f th e N o rth e rn T e x a s T r a c t i o n C o .,
w h ic h does a ll the e le c tric -ra ilw a y b u sin e ss In F o r t W o rth a n d o p e rate s an
Jn te ru rb a u lin e botw een th a t c it y a n d D a lla s , 3 5 m ile s, a n d th e c a p ita l
sto c k o f the T a r r a n t C o u n t y T ra c t io n C o . (nam e cha n g e d fro m F t . W o rth
8 o u th e m T ra c t io n C o . In 1 9 1 4 ), w h ic h op erates a lin e botw eon F o r t W o rth
a n d C le b u rn e , T e x ., 31 m ile s. I t Is p roposed to e xte n d th e lin e fro m
C le b u rn e to D e n to n , the rig h ts o f th e F o r t W o rth -D o n to n In t e ru r b a n C o .
h a v in g been a c q u ire d . V . 99 , p . 1 2 1 , 122. A ls o ow n s th e c a p it a l sto c k o f
th e A rlin g to n L ig h t & P o w e r C o ., w h ic h does th e e lo ctrlc lig h t a n d p o w o r.
Ice a n d w a te r b u siness In A rlin g t o n , T e x .
E n te rs D a lla s o v e r It s ow n
t ra c k s. See V . 89. p . 4 1 1 . H a s leased fo r 20 y e a rs fro m D e c . 1 7 19 15 th e
te rm in a l fa c ilitie s o f th e D a lla s In te ru r b a n T e r m in a l A ssn , w h ic h see u n d e r
D a lla s R a ilw a y C o . on a p re ce d in g p ag e . I n 1 9 1 7 leased (w ith th e rig h t
to p u rc h a se fo r $ 2,0 0 0,0 00 ) th e O a k C l if f lin e to the D a lla s R y . a t a n a n n u a l
re n ta l o f $ 11 5 ,0 0 0 fo r fir s t 3 y e a rs , $ 12 0 ,0 0 0 fo r fo u rth y e a r, $ 1 2 5 ,0 0 0 fo r
fift h y e a r, $ 1 3 5 ,0 0 0 fo r s ix t h y e a r a n d $ 15 0 ,0 0 0 th e re a fte r.
F r a n c h i s e s o f N o rth e rn T e x a s T r a c . C o . In F o rt W o rth e xp iro In 1 9 7 3 ; In
D a lla s in 19 37; o th ers a b o u t 1950; h a s p riv a t e rig h t-o f-w a y o u tsid o o f
c itie s. T a r r a n t C o u n t y T ra c t io n C o m p a n y in F o rt W o rth a n d C le b u rn e
e xp ire In 1936; betw een those c itie s h as p riv a t e rig h t-o f-w a y e xce p t In
to w ns & c ., in w h ic h cases Its rig h ts e xp ire In 19 6 1. V . 9 2, p . 1 2 4 3 . R o a d
w as com p leted in A u g . 19 12 a n d began o p e ra tio n In S e p t. 19 12. F r a n c h i s e
In A rlin g to n exp ire s in 1949.
O n F e b . 24 1913 In crea sed a u th . p re f. s to c k fro m $ 4 ,5 0 0 ,0 0 0 to $ 5 ,0 0 0 ,
000 a n d tho co m . fro m $ 2 ,5 0 0 ,0 0 0 to $ 5 ,0 0 0 ,0 0 0 ( V . 96 , p . 48 8 , 6 5 4 ), a n d
h o ld e rs o f b o th classes o f sto c k w ere g iv e n the r ig h t to su b sc rib e fo r $ 650 ,0 0 0
now com m on s to c k a t p a r. V . 9 6 . p . 79 0 .
I n S e p t. 1 9 1 7 re c e iv e d fra n c h ise s fo r tho c o n stru c tio n o f a d d itio n a l t ra c k ago a n d to rm in a l fa c ilit ie s to h a n d le th e h e a v y t ra ffic in c id e n t to tho a rm y
a c t iv it ie s o f C a m p B o w ie , n e a r F o r t W o rth ; w o rk w a s b e g un in N o v . 1 9 1 7 .
A n e xp e n d itu re o f S 1 0 0 .0 0 0 , it is sta te d . Is In v o lv e d .
I n N o v . 1 9 1 7 tho co. a n n o u n ce d a n in cre ase in p asse ng e r ra te s fro m a b o u t
2 ) 4 cen ts to a b o u t 2 % c en ts p e r m ile to c o v e r F e d e ra l taxe s a n d In crea sed
costs o f o p e ra tio n .
STO CK A N D BO NDS—
D a te.
I n te r e s t.
O u ts ta n d in g .L a s tD iv . A c 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 M a r . ’ 1 8 .1 %
4 ,0 0 0 ,0 0 0 M a r . ’ 1 8 .3 %
P r e f 6 % n -c $ 5,0 0 0 ,0 0 0 ( $ 1 0 0 ) ____
M & S
C o ll t ru s t M $ 10 ,0 0 0 ,0 0 0 g o ld ! 19 10
5 g J-J
3 ,5 5 1 .0 0 0 J a n 1 1940
s in k fu n d (see te x t)c * & r* t f ( I n t . a t C o m m o n w e a lth T r . C o ., B o s t ., T r u s t .
N o T e x T r a c 1st M $ 2,5 0 0 ,0 0 0 1 1903
5 g J-J
2 ,5 0 0 ,0 0 0 J a n 1 1933
($ 1,0 0 0 ) g o ld — no s in k in g ] In t . a t C it iz e n s ’ S a v . & T r . C o ., C le v ., T r u s .
f u n d __________________c * t f l or a t C h a s e N a t . B a n k . N e w Y o r k .
S t o c k .— T h e p re f. sto c k Is re de e m able a t 1 1 0 .
V . 9 4, p . 14 4 9 . B o th
cla sse s o f s to c k a re liste d on th e B o sto n S to ck E x c h a n g e .
B o n d s .— O f the c o ll, t ru s t b o n d s, $ 2 ,5 0 0 ,0 0 0 a re re se rv e d to re tire N o r t h
e m T e x a s T ra c t io n 1st M . bo n d s; $ 209 ,0 00 h a v e been ro tire d . C o u p o n
b o n ds a re In d on om . o f $ 1,0 0 0 ; re g iste re d b o n d s, $ 1 ,0 0 0 , $ 5,0 0 0 an d
$ 10 ,0 0 0 . C a lla b le as a w h o le o r In p a r t, fo r s in k . fd . o n ly , a t 105 a n d ln t . on
a n y ln t. d a te . S i n k i n g f u n d o f 1 % o f b o n d s o u t beg an N o v . 1 1 9 1 1 . B o n d s
a ro secured b y d e p o sit o f a ll th e s to c k o f tho N o rt h . T e x a s T r a c . C o . V . 9 0 ,
p . 3 7 3 . 1 2 39 . T h e N o rth e rn T e x a s T r a c t i o n C o . b o n d s a re s u b je c t to c a ll
a s a w h o le on a n y In te re st d a y a t 105 a n d In te re st.
D I V I D E N D S . — F ir s t d lv . on p re f. ( 1 % ) p a id M a r c h 1 1906 a n d 2 %
S e p t. 1 1906; sin ce , 6 % p e r a n n u m . F ir s t d iv id e n d on com m o n sto c k ,
2 % , p a id S e p t. 1 1909; in 19 10. 5 ' A % \ in 1911 an d 19 12. 6 % ; In 1913
6 H % ; in 1914. 7 % ; In 1 9 1 5, 4 ) 4 % ; in 1916 a n d 1 9 1 7 , 4 % . I n 1918.
M ar. 1% .
E A R N I N G S . — O f com b ino d co m p an ie s fo r 12 m o n th s o n d ln g D e c . 3 1 :
Y ear—
G ross.
N e t ( a f t .T a x .) O th .I n c .
I n te r e s t. S in k .F d s .
S u r p lu s .
1 9 1 7 ____ $ 2 ,5 8 2 ,1 1 3
$ 1 ,1 3 6 ,4 5 0 $ 2 8 ,7 5 0
$ 31 2 ,9 0 2 $ 3 5 ,8 4 3 S S 16 .4 55
1 9 1 6 ____ 1,9 3 0 ,0 2 1
7 7 3 ,2 4 2 ________
31 0 ,4 4 4 36 ,4 8 5
4 2 6 ,3 1 3
R O A D . — S u b sld . cos. op erate 1 6 2 .7 m ile s o f t ra c k , s ta n d a rd gauge; 245
passeng er a n d 16 o th e r c a rs. I n J u l y 19 16 co m p lete d a n 1,8 0 0 f t . v ia d u c t
o v e r th e steam ro a d s e n te rin g U n io n D e p o t in D a lla s . P o w e r s ta tio n h a s
c a p a c ity o f 10.8 0 0 k . w .; a lso p u rc h a se s p ow e r fro m th e D a lla s E le c t ric
L ig h t S t P o w e r C o .
O F F I C E R S . — P ro s., M a r s h a ll M . P h in n o y ; S e c ., H o llis T . G le aso n
T re a s ., H e n ry B . S a w y e r; G e n . M g r s ., Stone & W o b ste r M g t . A s s n ., B o s "
to n .— V . 102, p . 154; V . 104, p . 1899; V . 106, p . 39 6 , 8 1 8 .
FOXBORO, MASS.
N O R F O L K & B R I S T O L S T R E E T RY.
O R G A N IZ A T I O N . — In c o rp o ra te d In M a s sa c h u se tts In N o v e m b e r 1 9 0 1 .
F a r e I n c r e a s e .— O n A u g . 19 19 15 th e M a s s . P . S . C o m m , g ra n te d p e r
m issio n to In crea se th e fares fro m 5 to 6 cen ts o r 18 tic k e ts fo r $ 1 . See
V . 1 0 1 . p . 694; V . 1 0 3 . p . 1 0 3 1 .
S T O C K A N D BO NDS—
D a te .
I n te r e s t.
O u ts ta n d in g .
M a tu r ity .
S to c k , $200 ,00 0 ($ 1 0 0 )....................- .........................
$ 200 ,00 0 ......................
le t m tg e. $ 2 00 ,00 0 ($ 1 .0 0 0 ) . \ 1908
5 g J-J
20 0 ,0 00 J u l y 1 1928
g , s in k . fd . R e d . a t 1 0 5 - - ( I n t . a t A m e ric a n T r u s t C o ., B o s to n , T ru ste e
E A R N I N G S . — F o r 12 m o s. e n d . Ju n o 3 0 1 9 1 7 , g ro ss, $ 1 0 1 ,5 1 1 ; n o t,
$ 9 ,3 8 2 . I n 1 9 1 5 -1 6 , g ro ss. $ 9 4 ,8 5 3 ; n e t, $ 5 ,2 7 4 .
R O A D . — O w n s 2 1 .7 3 9 rnllee o f t ra c k betw eon N o rw o o d , M a n s fie ld an d
W re n th a m ; 21 passeng er c a r s , 3 sno w p lo w s a n d 2 s e rv ic e c a rs.
O F F I C E R S . — P re s ., J a s . E . R y d e r; T re a s ., E . O . H ild re t h ; G e n . M g r .,
M . A . C a v a n a u g h .— V . 8 7 , p . 9 36 . 1238; V . 1 0 1 , p . 694.
FRESNO, CAL.
S A N J O A Q U I N L I Q H T & P O W E R CORP.
O R G A N I Z A T I O N . — Incorporated In California on July 19, 1910 as a con
solidation of the San Joaquin Light Sc Power Co., the Powor Transit & Light
Co. (Bakersfield) and the Merced Falls Gas & Electric Co. Absorbed the
Selma Water Works, Madera Water Works, Madera Lt. S Pow. Co., Lemt
more Lt. S Power Corp. and Bakersfield Gas & Elec. Lt. Co. controls
t
through stock ownership the Tule River Co., having plants on tho Tule
RIvor, Cal. The Midland Counties Public Service Corporation (V. 98,
p. 1849), controlled In same Interest, purchases a l of I s powor from the
l
t
San Joaquin Lt. J P. Corporation. F r a n c h is e s In cities aro perpetual;
»
outside of c t o , with two exceptions, extend beyond 1950. About oneiis
half the total longth of transmission lines I on private right of way. Sup
s
plies electricity for lighting, power and pumping purposes throughout the
San Joaquin Valley. Including the cities of Morcod, Madera, Fresno, Selma
Hanford, Bakersfield. Sanger, DInuba and about 50 towns and small cities:
population served, about 250,000. Distributes gas in Bakersfield, Kern,
Merced and Selma; operates a street railway systom in Bakersfield and Kern
and furnishes water for domestic purposes in Selma and Madera.
Tho California R R Commission has auth. the co. to Issue $1,000,000 6 %
1st & Rof. M. bonds (not i c . i amount roportod outstanding) at not loss
nl n
than 90, procoeds to bo deposited in a special fund to bo oxpondod upon
orders of tho Comm. V. 106, p. 1345, 2123.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
C o m m o n $15,000,000 ($100)........... ... $11,000,000
. .......
Pref.$10,000,000($100)6%cum.__
Q — M15
6.500,000 Mar.’ 1 *4
IS,
C o n v dobs gold Series A1 1917
6g M-N
1,000,000 M a y 1 1927
$4,500,000 ($1,000) -,c*tf(Int. payable In Los Angoles or N e w York.
1st A Ref mtge $35,000,000 gl 1910 5-6 F-A
7,513.000 Aug 1 1950
($1,000) s in k fund.c*Jcr*tf/Eqult. Tr. Co., N. Y., trus.: lnt. In N. Y.
San Joaquin L S P C o 1st M l 1905 5 J-D
t
2.665.000 June 1 1945
$3,000.000s f ($1.000)c*ntf (Redeemable at 110 and Interest.
25.000
1942
San Joaquin Power C o -- n t f ___ 5 %
Power Trans & Lt M $2,500-1 1903 5 g J-D
86,000 June 1 1933
000 gold ($1,000)_____t | Mercantile Trust Co.. San Francisco, trustoe
f
Bakersfield & Kern Elec R y ’ 1901 5 g J-J
,
43.000 July 1 1931
$250,000 gold ($1,000) ntf(Union Trust Co.. San Francisco, trustee.
S to c k . — Capital stock cannot be increased without assent of three-fourths
of stock of both classes.
B o n d s .— Of tho 1st & re . bonds of 1910 reported outstanding, 81,500,000
f
(81.442,000 hold by public, 822,000 repurchased by the co. and $5.8,000
hold allvo in sink, fund) are Series A 6 $799,000 aro Series B, boaring 5%.
s:
and $2,125,000 aro Series B, bearing 6%, and $3,089,000 (of which $17,000
certified but not sold) aro Series C 6s (V. 100, p. 738). $3,010,000 First
& Refunding M. bonds aro reserved to retire prior liens duel. 8186,000)
held in or for sinking funds) and remaining $14,477,000 bonds maybe
issued at not exceeding 6 % lnt. for add’
ns, impts.. Sc, at 85% of cost
e.
under certain restrictions. Serlos A callable at 102H, othors at 105.
First and refunding M .contains sinking fund provisions calling for paymonts
of $145,000 annually (to be used partly for bottorments and additions and
partly for redemption of bonds. Sories A bonds having preference ovor other
series) from 1915-1919, $150,000 annually from 1920-1924 and ranging
thereafter from 2 )4 % annually of bonds out from August 1925-1930,1ncl„
to 4 ) 4 % annually from August 1945-1949, inclusive. V. 91, p. 1332.
By a supplementary mortgage, holdors of Series B 5s wero permitted
to oxchango them for Series B 6s upon payment of 8100 per bond up to
M a y 31 1917.
Tho debentures are redeemable, a l or part, at any time
l
prior to M a y 1 1922 at 102 and interest and thereafter at 101 and interest.
Tho entiro proceeds of tho debentures will bo used for additions and im
provements only. Under the trust agreement tho company covenants
that no further underlying bonds are to be issued; that no further mortgage
than existed at M a y 1 1917 bo made; that debentures outstanding and
floating debt will not at any time exceed 34,800,000. and that no dividends
bo paid stockholders In excess of prosont rate when floating debt exceeds
$300,000. Provision for conversion Into 6 % cumulative preferred stock
willbomado. Security Trust* Savings Bank, trustoe. V. 101, p. 1903.
Of tho .$2,665,000 San Joaquin Lc. & Pow. Co. 1st 5s, 813,000 aro hold
by co. for sink. fd. purposes, 825,000 certified unsold and $32,000 allvo in
sink. fd. 359,000 Pow. Transit & Lt. Co. 5s in addition to the amount
reported outstanding aro hold alive in sink. fd. $3,000 Bakersfield &
Kern Elec. Ry. 1st 5s aro held for sink. fd. purposos and 377.000 aro hold
in sink. fd. ( addition to thoso roported as outstanding).
in
D iv id e n d s . — Paid 4>*% on pref. stock in 1912; in 1913, 6%; In 1914, 3%:
none to June 1917, whon 1 ) 4 % was paid; 1 4 % quar. since.
R E P O R T . — For calendar yoars:
C a le n d a r
Y ear—
G ro s s
In com e.
E xp m ses
A T a xes.
N et
In com e.
C h arges
(N e t).
B a la n c e ,
S u r p lu s .
1917--.........$2,134,107 $895,636 $1,238,531 $548,924 $689,607
1916.......... 1.838,464
736,977
1,101,487
491,437
610,050
P R O P E R T Y . — Tho co. owns powor plants with 65,000 h.p.; operates
782 miles of high-tension transmission linos, 33 sub-stations and 2,432 mile
of distributing lines. Reservoir capacity, 51,000 aero feet. 90 miles
of gas mains. Operates 10.51 miles street railway track In Bakersfield,
supplemented by automobilo bus lines in outlying territory.
OFFICERS.— Pres., W. G. Korckhoff; V.-P.s, A. C. Batch and Bon. R.
Meyer; Sec., L. M. Farnham; Treas. & Comp.. A. E. Poat: Gen. Mgr.,
A. G. Wlshon.— V. 106. p. 87, 191, 403, 822, 1127, 1345, 2123.
F R E S N O T R A C T I O N CO.— A trolley road.
I n 19 10 S o u th o rn P a c ific a ssum e d c o n tro l an d o w ns a ll the sto c k e xce p t
d ire c to rs ' sh a re s.
O R G A N IZ A T I O N . — In c o r p . in C a l. S e p t. 22 19 0 3. Loasos tho F re s n o
C it y R y . P u rch a se s p o w er fro m S a n J o a q u in L t . & P o w er C o .
I n D e c . 1916 th e C a l. R R . C o m m . a u th . th e co . to s e ll $ 4 9 ,5 9 7 b o n d s for
e xts. (n o t ln c l. In a m o u n ts re p o rte d o u tsta n d in g ).
STO C K A N D BO NDS—
D a te .
I n te r e s t.
O u ts ta n d in g .
M a tu r ity .
S to ck $ 5 ,0 0 0 ,0 0 0 - - ($ 1 0 0 )................................................$ 5 ,0 0 0 ,0 0 0 .........................
F ir s t m o rtg age, $ 5,00 0 ,0 0 01 1904
5 J-J
7 1 4 ,0 0 0 J u l y 1 1944
FOSTORIA, OHIO.
($ 1 ,0 0 0 ). g o ld _______c . n t f ( l n t . a t U n io n T r u s t C o ., S a n F r a n ., T ru ste e .
FOSTORIA & FREMONT RA ILW AY CO.
B on d s o f L eased C om p a n y—
6 g J-J
8 0 ,0 0 0 J a n
1 1922
O R G A N I Z A T I O N . — Incorp. In Ohio In 1909. Ownership Js largely F re s n o C it y R y fir s t m tg e f 1902
$ 1 5 0 ,0 0 0 g old ($ 1,0 0 0 ) c * t f \U n Io n T r u s t C o ., S a n F ra n c is c o , T ru s te e .
represent&l by Interests Identified with the Lake Shore Electric Ry. Co.
and Western Ohio Ry. Co. Besides passenger business, does a freight and
B o n d s .— F re sn o T r a c . 1 st M . b o n ds h a ve a s in k in g fu n d co m m e n cin g In
express business and handles coal for uso by Ohio State Power Co. at 1909 o f $ 2,5 0 0 p e r a n n u m fo r fir s t 5 y ea rs a n d In cre a s in g 8 2 ,5 0 0 p e r a n n u m
Fremont.
fo r each 5 -y o a r p e rio d th e re a fte r to 8 1 7 ,5 0 0 p er a n n u m fro m 19 39 to 19 4 3.
F re sn o C it y bon ds h a v e a s i n k i n g f u n d o f $ 3,0 0 0 p e r a n n u m fo r f ir s t tw o
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
y e a rs, $ 5,0 0 0 p er a n n u m fo r n o xt fiv e y e a rs a n d $ 7,5 0 0 p or a n n u m fo r
C o m stock, $200,000 ($100)_____
$200,000
______
n e x t 10 y e a rs , w h ic h began J a n . 1 1905. B o n d s c a n n o t b o c a llo d . I n
Pref stock $200,000 ($100)................
200,000
First mtge $250,000 ($1,000)1 1910
5 A-O
_____
20 0 ,0 00 O ct 1 1930 terest p a y a b le In N e w Y o r k a n d S a n F ra n c is c o .
gold---------------- c*/Int. at Cleveland (O.) Trust Co., trustee.
C O M B I N E D E A R N I N G S . — In c h F re sn o C it y R y .:
B o n d s . — Normal Federal Income tax paid at source.
D iv id e n d s . — Paid a dividend of 3 % on pref. stock In Jan. 1913;~subsequent
surplus earnings have gone Into the properties.
E A R N I N G S . — For years ending June 30:
1916-17 1915-161
1916-17 1915-16
Gross.......... $68,289 $58,823|Net, after taxes...$15,983 $21,105
R O A D , &C.— 21.38 miles of electric Interurban railway on private rightof-way. connecting Fostorla and Fremont. Forms the connecting link
between the Western Ohio Ry., Toledo Fostorla Sc Findlay Ry. and Lake
Shore Electric Ry., a l of which use the line under traffic contracts.
l
OFFICERS.— Pros., F. D. Carponter, Lima, Ohio.— V. 102. p. 521.
C a l.
G ross
N e t (a fte r
O th er
In te r e s t.
B a la n c e ,
Y ears—
E a r n in g s .
T a x es).
In com e.
R e n ta ls , A c .
D e fic it.
1 9 1 7 ...................... $ 2 35 ,6 4 0
$ 3 2 ,0 1 4
$ 2 7 ,5 3 0
S I 10,0 83
8 5 0 ,5 3 9
1 9 1 6 ....................... 2 2 5 .5 1 8
4 0 .8 6 7
11,6 6 2
9 2,52 6
39 ,9 9 7
R O A D . — M ile a g e o p erate d (ln c l. 8 .1 4 m llos leased fro m F re sn o C it y I t y . ) ,
4 5 .0 1 m ilo s. A lso ow n s 9 .1 1 m iles o f sin g le -tra c k oporatod o y S o u th e r.i
P a c ific C o . S ta n d a rd -g a u g e , 7 5 -lb . " T ” r a il. 29 e le c tric m o to r p asseng o r,
2 w o rk a n d 1 co m b in a tio n c a rs; 2 tra ile rs , a n d 1 e le c tric lo co m o tiv e .
O F F I C E R S . — P re s., 'V. F . H e rrin , S an F ra n c is c o : V.-P., Paul Shoup;
Sec. & A u d ., H . A . O u llo d e n , L o s A ngeles; G e n . M g r ., F . W . W e b ste r.
F re s n o ; T re a s ., M . S . W a d e , L o s A n g e le s.— V . 7 7 , p . 1746; V. 7 8 , p . 1 2 2 2 .
may,
1918. J
ELECTRIC RAILW AYS
45
G A R Y & V A L P A R A I S O RR.
GADSDEN, ALA.
A L A B A M A C I T Y G A D S D E N & A T T A L L A RY.
O R G A N I Z A T I O N . — Incorporated in Indiana on Nov. 19 1917 witxj
authorized capital stock of $10,000 to operate the lines of the Gary Connect
O R G A N I Z A T I O N . — Incorporated under a special charter from the State
o . Alabama. Operates, besides street railway, a light plant, an ice plant ing Rys. and the Valparaiso A Northern Ry., which were sold under fore
f
closure Sept. 18 191 < pending an appeal to restrain the junking of the
,
and a coal yard.
property. On Feb. 15 1918 the Ind. P. S. Comm. auth. tho holders o
STOCK A N D BONDS—
D a te .
I n te r e s t.
O u ts ta n d in g .
M a tu r ity .
the bonds covering the line between Gary and Valparaiso to dismantle the
Stock $500,000 ($100)..........
........
$330,000 ..... ...
property anti dispose of i as junk.
t
Mortgage
$300,000 gold/ 1906
5 g M-N
298.000 Nov 1 1938 ! R O A D . — Extends from Chesterton through Goodrum to Valparaiso,
($1,000)____________ tf llnterest at Trust Co. of Amer.,N.Y..Trust.
12 miles, and from Gary to Valparaiso, 16 miles (see above). Total mile
B o n d s . — The unissued bonds are reserved for further additions at 90%
age operated 28 miles.— V. 105, p. 2272; V. 106, p. 295.
of cost. Subject to call on any interest date at 105 and Interest.
R O A D . — Operates 11 miles of track, connecting the points named in the
t t e Standard gauge. 40 and 70-lb. T r i .
il.
al
GENEVA, N. Y.
OFFICERS.— Pres., K.T. Schuler, Gadsden, Ala.; V.-Pres.. G. H
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 CO., INC.
Schuler, Jacksonville, Fla.— V. 83, p. 817.
O R G A N I Z A T I O N . — Incorp. M a y 28 1913 as successor of the Geneva &
Auburn Ry. sold at foreclosure March 14 1913. Public Serv. Commission
GALVESTON, TEXAS.
authorized the sale of $524,000 bonds at not less than 85. V. 97. p. 298.
The Public Service Commission in M a y 1915 auth. the Issue of $37,150
Q A L V E S T O N - H O U S T O N E L E C T R I C CO.— A holding company.
6 % serial notes maturing within 6 years, the proceeds to be used for
O R G A N I Z A T I O N . — Incorp. In Maine on M a y 8 1907. Controh additions, improvements. &c.
through ownership of stock the Galveston Electric Co. and the Houston
The Public
to revise the schedule of
Elec. Co., wlilch companies do the entire electric railway and part of the fares and put Serv. C o m m , authorized the company 1 1916, holding that the
a new
into effect as of Nov.
electric lighting and power business in Galveston and the entire electric company’ revenues fare zone sufficient to yield a fair return on the property
s
were not
railway business In Houston. Also owns stock of Galv.-IIou*. Else. Ry.. nvestment.
an lnterurban road betwoen Galveston and Houston, 50 miles,and guar
8TOOK A N D BONDS—
D a te .
I n te r e s t.
O u ts ta n d in g .
M a tu r ity .
antees i s bonds, p., 1 and s f F r a n c h is e s expire in Galveston in 1950; In
t
.
. .
-----$157,100
Houston, 1935. The lnterurban i on private right-of-way. $500,000 Stock. $200,000----------- ---s
Bonds. $524.000— ........ 1913
5%
504.000 July 1 1943
com. stock I owned by Public Service Investment Co.
s
Sonal notes.............. 1915
6%
21.000
See text.
STOCK A N D BONDS—
D a te .
I n te r e s t. O u ts ta n d in g . L a s t D i s .& c .
E A R N I N G S . — For year end. Dec. 31 1917, $107,241; net, after taxes,
Common, $5,000,000 ($100)..... .
M-S 15 $3,988,000
See text
Prel $4,000.0006% cum ($100)--M-S 16 3.000.000 Mar.'18.3% $21,295. In 1916, gross, $101,923; net, after taxes, $32,127.
Galv Electric 1st M $2,600.- 1905 6 g M - N 1.320.000
M a y 11940
R O A D . — Extends from Geneva to Cayuga Lake Park through Waterloo
000 gold ($1.000)---c*tf|Int. at Old Colony Trust Co..Boston. Trus- and Seneca Falls. Length of main tracks 10.31 miles; sidings, .819 mile;
l tee. or at company’ agency In N e w York. miscellaneous, .30 mile; total, 17.489 miles. Ralls, 70, 80, 90 and 100-lb.
s
Galv-nous El Ry 1st M $5.-1 1909 6 g A-O 2,884,000
Oct.11954
T; track standard gauge.
000,000 g guar____ c*Artf/Int. at Old Colony Tr. Co., Boot.. Trustee.
OFFICERS.— Pres., R. R. Quay. Pittsburgh. Pa.; Sec., L. G. Hoskins.
Houa Elec Co 1st M $2,600,-1 1900 5 a F-A 1,825,000
Aug. 11925
Geneva. N. Y.; Supt., Treas. & Purch. Agt.. W. A. Shirley, Waterloo.
000 g ($1,000) sk fd-.c*tf Jlnt. at Internet. Trust Co.. Bost.. Trustee
N. Y.— V. 96. p. 1029; V. 97. p. 298.
Notes payable, Feb 28 1918-. -------- ----$807,500
...
S t o c k . — Pref. l callable at 120 and accum. dlv.
a
Both pref. and com
are listed on Boston Stock Exchange.
GIRARD, PA.
G a l v e s U r n E l e c t r i c C o . — Of tho bonds, $1,026,000 reserved for additions
C L E V E L A N D & ERIE R A I L W A Y CO.
and Impts.at 8 0 % of cost and $154,000 have been canceled. A s i n k i n g f u n d
O R G A N I Z A T I O N . — Incorporated In June 1909. Is successor to Gonof 114% of bonds cortlfled began July 1 1906. Callable as a whole or In
neaut & Erie Traction Co., sold at foreclosure. Owns a l the stock and
l
part for sinking fund on any int. date at 110 and lnt. on 30 days' notice
bonds and leases the Conneaut A Erie Traction Oc. of Ohio, which owns
See V. 81. p. 975.
1.99 rnUes of track. F r a n c h i s e s are for 999 years.
U a lv e s to n -I I o u sto n
E le c tric
R y . — Of the remaining bonds, $20,000 arc
held in trust for benefit of company and $2,000,000 are reserved for
S T O C K A N D BONDS.—
D a d e.
I n te r e s t.
O u ts ta n d in g .
M a tu r ity .
acquisitions and Improvements; $90,000 have been canceled. Denom.’ Stock. $300.000-..................... .
$300,000 .........
5 J-J
500.000 July 1 1929
coupon, $500 and $1,000; registered, $1,000 and $5,000. Subject to call First mtgo. $800,000. gold) 1909
on any Interest day in whole, or In part for sinking fund, at 105 and lnt.
($250 and $500)-------cflnt. at Fidelity Trust Co., PhUa.. trustee.
S i n k i n g f u n d of 1 % of bonds to 1944; thereafter 114%.
First five pay Income bonda $506,000 ($250( 1909
5 July
500.000 July 1 1929
ments waivable. Bonds are guar., prln., lnt. and sinking fund, by Galv.and $500)------------- Jlnt. at FideUty Trust Co.. Phila., trustee.
Hous. Elec. Co. See V. 90. p. 69f .
B o n d s . — Remaining f r t mortgage bonds are reserved for extensions,
is
H o u s to n E le c tr ic C o . — Entire issue, but not any part, can be called on
betterments, Ac. They are subject to call at 105 and lnt. on 3 months,
any int. date at 10714 and int. S in k in g f u n d of 114% of bonds outstand notice. Int. on Income bonds i only payable I earned, and i non-cum.
s
f
s
ing, payable on Aug. 1 each year. See V. 74, p. 680. $675,000 of bonds They aro subject to call at par. Bonds nave no sinking fund. N o Interest
n o t outstanding was held by this fund on Feb. 28 1918.
has been paid on incomes.
D I V I D E N D S . — O n common, 114% semi-ann. from Sept. 1909 to and
E A R N I N G S . — For cal. year 1917 and years end. June 30:
Incl. Mar. 1912. amount then increased and paid 2 % In Sopt. 1912. In
G ross
N et
O th er
I n t.,T a x e s
D ep r. A
B a la n c e
Mar. 1913 Increased to 214%. In Sept, to 3 % and In Mar. 1914 to 314%;
Y ear—
E a r n in g s . E a r n in g s .
In com e. &
R e n ta ls .
R e p la c e .
D efic it
Sept..314%. In 1916,Mar..314%. Sept. 1915dlv.omitted. (V. lOl.p.845.) 1917----- $145,606 $31,744
SI,120
$38,752
_____
$5,888
1916-17 ... 137,174 51.755
1,651
37,853
15,593
40
E A R N I N G S . — Of the combined companies for 12 mos. ending Dec. 31:
1915-10 —
121.837 45,556
960
39.597
16.248
9,329
Y ear—
G ross.
N e t ( a ft . T a x . ) . I n t e r e s t .
S in k . F u n d s .
S u r p lu s .
Passengers carried during year end. Dec. 31 1917, 838,301.
$703,250
$331,201
$119,676
$252,370
1917---- $2,088,122
R O A D . — Owns 31.29 miles of track. Operates between Conneaut and
1916
_________ 1,944,839 708.732
321,757
117,236 269>39
al
R O A D . — Operates 161.05 miles single track; standard gaugo; 2G2 passen- Erie. Standard gauge; 60-lb. r i ; 9 passenger and 8 other cars.
gor and 37 other cars. Power stations have capacity of 6,582 k. w.
OFFICERS.— Pres., O. E. WiUock, Pittsburgh; V.-P.. H. E. Fish.
OFFICERS.— Pros., Marshall M. Phinney; Sec., Hollis T. Gleason* Erie, Pa.; Treas., J. R. McDonald. Erie. Pa.; Sec., J. M . Smith, Girard
Treas., Henry B. Sawyer; Gen. Mgrs., Stono & Webster Mgt. Assn — v ’ Pa.; Mgr., J. M . Smith, Girard, Pa.
104, p. 1898; V. 105, p.284 V. 106, p. 395, 715.
;
K
v*
GARY, IND.
GIRARDVILLE, PA.
S C H U Y L K I L L R A I L W A Y CO.
O R G A N I Z A T I O N . — Incorporated In Pennsylvania on July 20 1903 and
purchased the property of the Schuylkill Traction Co. and the Lakeside
Ky. Co* V* 80, p* 1729*
STOCK A N D BONDS—
D a te.
I n te r e s t.
O u ts ta n d in g .
M a tu r ity
Stock, $400,000 ($50)..... ........... .
$400,000 ___
V
First consol mtgo,$ 1.450.000,1 1905
5 g A-O
640,000 April 1 1§35
gold ($500 and $l,000)-.c*/lnt. at Fidelity Trust Co., Phila., Trustee,
B o n d s . — ° t the remaining f r t consol, bonds, $760,000 are reserved to
is
retire the underlying Hens in statement below and $50,000 are in treasury.
Are subject to call at par and interest.
•
.
’ F or
Y
ending June 30 1915, gross. $240,483; net.
$115,249; int. and taxes, $81,718; mlsc. deductions, $25,959: sur., $7,572.
OFFiCERS.— Pres., Powell Evans, Phila.; Sec. A Treas., J. A.McKee,
Phila. Gen. Mgr., W. S. Lelb, Pottsville.— V. 87, p. 286; V. 105, p. 73.
(1) Schuylkill Traction Co.— A trolley road.
O R G A N I Z A T I O N . — Chartered Sept. 26 1892. in perpetuity, under the
Motor Traction Act of March 22 1887. Road opened June l 1893. On
Jan. 0 1893 leased for 999 years tho Mahanoy City 3henandoah Girardvllle
A Ashland Street Ry. On Oct. 5 1893 leased for 999 years the Ashland
Locustdalo A Centralia Elec. Ry. Owns a l the stock of these two roads,
l
which i pledged under the f r t mortgage. On April 27 1900 leased for 999
s
is
years the Lakeside Ry.. which connects the two ends of the company’
s
routes from Mahanoy City to Shenandoah and purchased 2.600 of the 5,000
shares of the capital stock. On Jan. 24 1901 leased the Shenandoah A
PottsvHle Street Ity. (13 miles) for 999 years (incorporated Aug. 1 1900).
and bought a l of i s capital stock. The Lakeside Shenandoah & Pottsl
t
vHlo stock I pledged under consol, mtge.
s
S T O C K A B O N D S — M ile s . D a te .
In te r e s t.
O u ts ta n d in g .
M a tu r ity
l t V nnn 000’g’
8 A l?5500’
J
,600\?2^
1§P3
6 g A-O
$500,000 April 1 1943
•
—
- . $1.000......... Int. at Cont.-Equit. T. * ---- ---------- ------- — ,--A T. Co., Trustee, Phila.
l«tM, ^ e8,de
*• 5)4
4 g M-N
150.000 Nov 1 1923
fifid.qoo. guar d by Int. at Cont.-Equit. T. A T. Co., Philadelphia.
Schuylkill Traction--( Trustee.
N e w consol mtge, seof--- 1901
4)4 g J-J
105,000 July 1 1951
text ($1,000). g— c*JInterest at Fidelity Trust Co.. Phila.. Trustee.
Power-house mortgage_____ ___
______
5.000 __ _ _
_ Bonds . The 1st M . bonds of 1893 may be purchased for s n . "fund" at
—
ik'
105. Sinking flind of $10,000 per annum began April 1 1898. In June
1916 the trustee brought suit for an accounting of net profits from operation
of tho properties under tho mtge. and asked for the payment of $10,000 or
such part thereof as can bo determined to be due, with interest, for each
year from April 12 1905 in which net profits were earned. In accordance
with the sink, fund provisions. Auth. amount of consol, mtge. was $2.
000.000, but mtge. has been closed with $105,000 out. Of the outstanding
bonds $36,000 aro held in the treasury. Subject to call at 105 and interest.
S in k in g f u n d of 1 % of bonds out became operative Aug. 1 1907.
R O A D . — Schuylkill Traction Division, 22)4 miles of track, beginning at
Locustdalo, thence through Ashland. Holmesville to GirardviUe. forming
there a Y, one branch running through Lost Creek to Shenandoah and the
other branch to Malzeville, GUberton and Mahanoy City. Lakeside Divi
sion, 5)4 rnUeo. Total. 28 mllea. 00 and 70-Ib. T r i . Extensions of 43
al
miles proposed and charters obtained. Operates 51 motor cars, 4 work
cars and 2 snow sweepers.— V. 80, p. 1729.
G A R Y STREET RAILWAY C O R P O R A T I O N O R G A N I Z A T I O N . — Incorp. in Feb. 1918 in Va. as successor to tho
Gary A lnterurban Ry. and East Chicago Ry., sold at foreclosure Sept IS
1917 (V. 105, p. 1309), per reorganization plan in V. 106, p. 1230. Owns
the entire $365,000 common stock of tho Gary Street Ry. (incorp. in In
diana Sept. 26 1917), tho operating company.
C o n tr a c t loith C a lu m e t E le c tr ic C o . — G u a r a n ty . — A contract dated Sept 6
1917, as amonded, provides that in consideration of $50,000 in cash, and
I s guaranty of tho int. on the 20-year debentures for a period of fivo years
t
from Oct. 1 1917 (which guaranty i secured by deposit of $125,000 1st M
s
bonds of tho Calumet Electric Co.,being one-half of tho presont outstand
ing issuo), the Calumet Electric Co. shall havo an option for fivo years to
redeem or pay at par and int. a l of said debentures and thereupon to re
l
ceive a l or the common stock of tho corporation. Tho Electric Co. I
l
s
further to havo a renewal for fivo years of i s contract for tho furnishing
t
of power to tho properties, and, In tho meantime, will control tho manage
ment through a voting trust agreement under which a l of tho common
l
stock of tho corporation I to bo deposited with three voting trustees of
s
w h o m ono shall bo a representative of tho old Gary & lnterurban Ry
bondholders and tho other two of tho Calumet Electric Co. In case tho
Electric Co. shall not redeem a l of tho debentures on or before Oct. 1 1922
l
or in case i shall default on I s guaranty of tho payment of int. thereon’
t
t
then tho common stock of tho corporation shall bo distributed ratablv
among tho bondholders of tho voting trust certificates.
[Tho Calumet Electric Co. i an Indiana corp. and secures a l I s elec
s
l t
tric power from tho Public Service Co. of Northern I l n i , s l Inland
l i o s el
distributing tho same in tho Hammond, Whiting and Gary districts.]
Upon consummation of tho reorganization plan, tho following securities
will do outstanding (sanctioned by Ind. P. S. Commission):
S T O C K A N D BONDS.—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
C o m m o n $800,000 ($100)......
.......
$800,000
Pref 6% non-cum $72,500($100)___
.......
72,500
G a ry S treet R y .
—
Prof 6 % non-cu $365,000($100)___
365.000 ..
First Mtgo bonds $2,500,000 [ 1917
5 g A-O
375.000 Oct 1 1937
($100, $500 and $1,000)... Central Trust Co. of 1 1 and W m . T. Abbott,
1.
trustees.
Debentures $800,000 gold 1917
5 g A-O
800,000 Oct 1 1937
($100, $500 and $1,000)
„
S to c k . — Preferred stock of both cos. i limited to tho auth. amounts
s
mentioned above. Both issues are red. as a whole at par on 30 days’ notlco. Dividends on the common stock of tho Gary Street Ry. Corp. of
Va. are limited by voting trust to $10,000 per annum.
V o tin g T r u s t . — All tho common stock (excopt directors’ shares) I hold
s
undor a voting trust agreomont for 5 years to Oct. 1 1922. Trustoos are
Mortimer N. Buckner, Frank J. Baker and Charles W. Chase.
B o n d s . — Remaining 1st M . bonds may bo issued for additions, ext’ and
ns
impts. for not over 8 5 % of cash cost of same, and for repaving and track
renowals necessitated by public orders, for not more than 90% of the cash
cost of same. Callablo at 105.
D e b e n tu r e s .— Int. on debs, i guar, during l f of voting trust agreement
s
ie
by endorsement by tho Calumet Electric Co., said guaranty boing secured
by pledgo of $125,000 of that co.'s 1st M. bonds. Red. at par and i t
n.
on 30 days notico. I ho co. covenants, among other things, not to permit
any Hen upon tho property ahead of tho debentures except tho First Mtgo
and to expend or set asido annually for maintenance and to offset deprecia
tion 14% of gross oarnings:
1
D iv i d e n d s .— Divs. on com. stock of tho C o r p . aro restricted by voting
trust agreement to $10,000 per annum.
B
GLOVERSVILLE, N. Y.
...
C r M o s .E n d . — Y r s . e n d . J u n e 30—
, F O N D A J O H N S T O W N & O L O V E R S V I L L E RR. CO.— Steam and
EARNINGS.—
D e c . 31 1917.
1916-17.
1915-16? electric road.— See statement in “Railway and Industrial’ Section.
’
$181,333
$318,171
$245,027
Gross earnings..................
Net, after taxes----------------42,954
41,417
27 669
GRAND RAPIDS, MICH.
C O M M O N W E A L T H P O W E R . R A I L W A Y & L I G H T CO.
O R G A N I Z A T I O N . — Incorporated In Maine Feb. 19 1910 to carry oat
the plan outlined in V. 90, p. 108, 447. for amalgamating certain gas.
electric light, power and street raUway enterprises in Michigan.
46
ELECTRIC RAILWAYS
Controls through stock ownership the following companies:
Consumers Power Co.
I
Saginaw-Bay City Hallway Co.
Grand Rapids Ry.
Grand Rapids Holland <t Chic. Ky.
S
Michigan Light Co.
ISpringfield (O.) Lt.. Ut. & Pow. Co
Michigan Railway Co.
IUnion Railway, Gas & Electric Co.
Manistee Railway Co.
I
, , ,
x^
, , , ,
On Sept. 30 1917 constituent companies had outstanding in hands of
the public $76,181,700 bonds and 315,279,200 preferred stock.
On M a y 15 1913 the company acquired (through exchange of new stock
on basis shown in V. 96. p. 1296) the outstanding capital stock of the Union
Ry.. Gas & Elec. Co. and the Springfield (O.) Light Co. (V. 96. p. 1298)
and the Michigan Rys. Co. In July 1917 purchased a three-quarter inter
est in a coal mine in Logan Co., W . V a V. 105, p. 606. Later in 1917
'.
purchased coal lands in I l n i .
lios
__
R eq uest to W ith h o ld P r e s e n ta tio n o f B o n d s . On April 20 1918 holders of
—
the conv. bonds due M a y 1) 1918 were asked to withhold presentation of
!
their bonds pending action by tho War Finance Corp. on an application
for an advance to meet the payment of the bonds.
It i stated by lr s
s
e.
Anton G. Hodenpyl that large holders of tho bonds have acquiesced in
this request. V. 106, p. 1796.
O u ts ta n d in g .
M a tu r ity .
8TOOK A N D BONDS—
D a te .
I n te re s t
$18,585.91)0
See text
C o m m o n ($100)---------- ---Q-F
17.953.000
Soo text
Preferred (6% cum) ($100)------Q-F
8.047.000 M a y 1 1918
Conv bds. $10,000,000 ($100.1 1913
6 M-N
,
$500 and $1.000)..c*._ tf(Int. payable in N e w York and Philadelphia.
S to c k . Preferred stock I redeemable at 105 and accrued dividends.
—
s
B o n d s . The proceeds of the conv. bonds were used (
—
1) to retire the
$2,000,000 notes maturing June 10 1913; ( for the acquisition of $2,100,
2)
000 pref. stock and approximately $1,500,000 notes of Michigan Rys. Co.;
remainder was available for company’ purposes. Bonds are conv. ( n
s
i
amounts of $1,000 or multiples thereof) on 10 days notice into an equal
amount of pref. stock at par, and upon conversion bondholders will also
receive common stock equal to 3 0 % of bonds so converted. V. 96, p. 1296.
1556. As of M a y 1 1918 $1,953,000 bonds had been converted. Bankers
Trust Co., N e w York, i trustee.
s
D iv id e n d s . Quar. dlvs. of 1/4% on pref. have been paid since organiza
—
tion. Tho Feb. 1918 div. was paid in 6 % scrip dated Feb. 1 1918 and duo
on or boforo Feb. t 1924 (V. 106, p. 498). Tho M a y dividend was paid in
similar scrip. V. 106, p. 1580. First div. on com.— 1 % — paid M a y 1 1913;
same rate quar. to and i cl. Nov. 1917. Feb. 1918 div. was passed.
n
(V. 106, p. 498.)
C o n d e n s ed E a r n in g s S ta tem en t f o r Y e a r s e n d in g D e c . 31.
1916.
1915.
1917.
...
*’
*
1916.
1915.
1917.
$2,866,667 $2,434,825
Earnings on sub. coftipany stocks--- $2,250,775
592,062
647,032
Interest, &c., earnings___________
790,355
$3,041,130
Gross earnings___________
D ed u c t —
___
Expenses and taxes______________
$189,924
Interest charges________________
672,649
Amortization of debt discount_____
28,932
Dividends on preferred stock______ 1,077,010
$3,458,729
___ ___
$151,080
626,975
28,932
1,019,170
$3,081,857
Balance for common stock divs.,
replacements and depreciation.. $1,072,615
$1,632,572
$1,335,587
31.
C o m b in e d E a r n in g s o f S u b s id ia r y C o m p a n ie s Y e a r e n d . M a r .
Y ear—
C ross.
N e t ( a ft e r T a x .) I n t . , A c .
P r e f. D iv s .
3143,859
613,479
28,932
960,000
S u rp lu s .
1017-18--.$20,093,104 $6,993,585 S5.440.473 $1,077,210 3 475,902
1916-17..- 17,545,338
7,605,652
5,084,279
1,048,265 1,473,108
P R O P E R T Y , &c.— Through I s constituent companies, owns and oper
t
ates electric railways serving 90 cities and towns wlth862.92 miles of single
track; revenue pass, carried during year end. Alar. 31 1918, 102.522.233
electric light and power companies sorving lOOcltles and towns with sales
during the year ended Mar. 31 1918 of 384,616,611 k. w. h.; 20 hydro
electric plants and 19 steam electric plants with an installed capacity of
260,000 h. p., high-tension transmission lines aggregating 1,402.05 miles
in length: gas companies serving 14 c t e , with sales during the year ending
iis
Mar. 31 1918 of 3.066,525,400 cubic feet; miles of gas mains, 949.86.
OFFICERS.— Pres., Anton G. Hodenpyl; V.-P.. O. M. Clark, Phila.;
V.-P., Geo. E. Hardy: Sec. & Tress., Jacob Hekma; Asst. Sec. & Asst.
Treas., C. A. Pearson Jr., Phila., and G. H. Bourno, N. Y.— V. 106, p. 395,
498, 607. 813, 1036, 1580, 1796.
( Michigan Railway.
1)
O R G A N I Z A T I O N . — Incorp. July 22 1909 as the Michigan & Chicago
Ry. and on Mar. 21 1914 changed I s name to Michigan Ry. On Jan. 1
t
1916 leased for 999 years the Mich. United Rys. (formerly leased to Mich.
United Traction Co.) and the Grand Rapids Holland & Chicago Ry.
F r a n c h is e s . The company owns In fee the right of way on line from Grand
—
Rapids to Kalamazoo: from Allegan to Battle Creek and from Saginaw to
Bay City, and for 17 miles of i s line from Saginaw to Flint. Franchises
t
on the balance of the Saglnaw-Flint line are regarded as perpetual.
STOCK 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
C o m m o n stock $6,000,000___ ____
____ _
*$4,392,000 --------1st mtge $15,000,000 gold/ 1914
5%
See text June 1 1944
($1,000. $500. &c)..... -IMlch. Tr. Co. and Frank A. Gorham, trust.
1st lien gold notes $7,000,000/ 1914
5 g J-D
6,500,000 June 1 1919
($1,000, $500 & $100) guar (Bankers Tr. Co., N. Y.. and Detroit Tr.
prin & int_____ ____ -.c*i Co., Detroit, Trustees.
* All owned by Commonwealth Power Ry. & Lt. Co. and deposited as
security for the o-year gold notes (V. 98, p. 1993).
B i n d s . Of the 515,000.000 auth. bonds, $8,125,000 i deposited as
—
s
part collateral for the notes.
N o t e s . The remaining S500.000 notes may bo issued only to extent
—
of 8 0 % of cash expenditures for extensions, impts., &c., under certain
restrictions (V. 98, p. 1993). Guar. prin. & int. unconditionally by Common.
Pow., Ry. & Lt. Co. by endorsement. Int. payablo in N. Y. or London at
$4.8665 per £. Red. on int. dates at 101 and int. $10,311,700 par value
ofstock of several companies controlled by the Commonwealth Pow., Ry. &
Light Co: i deposited as collateral security.
s
R O A D . — Owns and operates an interurban electric railway 48.96 miles
long, extending from Flint through Saginaw to Bay City, with branch to
Frankenmuth; one from Allegan to Battel Creek, 44.92 miles, and a now
high-speed interurban l n , 58.01 miles, extending from Grand Rapids to
ie
Kalamazoo. Construction on this line completed in Dec. 1914 and regular
servico was begun M a y 17 1915. Leases tho Alichigan United Rys., 258.90
miles, and the Grand Rapids Holland & Chicago Ry., 76.48 miles.
OFFICERS.— l res., B. O. Cobb; V.-Ps., H. H. Crowell, Frank Sllllman
’
Jr. and J. F. Collins: Sec., G. B. Dobbin; Treas., J. W. Glondening,
Office. Kalamazoo. Alich.— V. 100, p. 398, 1752; V. 102, p. 522.
( a ) Michigan United Rys.— A third rail and trolley systom. Leased to
Michigan Railway Co. for 999 years from Jan. 1 1916.
O R G A N I Z A T I O N . — Incorporated In Michigan on Alarch 31 1906 and
on M a y l 1906 took over the Michigan Traction Co., the Michigan Traction
Extension Co., the Jackson & Battle Creek Traction Co. and the Lansing &
Suburban Traction Co. The Lansing & Jackson Railway Co. has also been
deeded to tho Michigan Un. Rys.
In 1908 purchased Jackson Consolidated Traction Co. V. 84, P.1183,
and V. 87. p. 285. Latter company's fr a n c h is e s in Jackson expire in I960.
The City of Jackson has the right to purchase the Jackson Consolidated
Traction at an appraised value in 1930 and each 5 years thereafter.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Common. $6,000,000 ($100)............ .... $8,000,000 ..........
Prer $1,000,000 ($100) 6 % cu.....
M-S
1.000,000
See text
1st & ref mtge $12,600,0001 1906
5 g M-N
9,797,000 M a y 1 1930
old ($1,000, $500. $250./ Int. at Columbia Tr. Co., N. Y., trustee,
100 and $50)____ c&r.tfl or Nat. Provincial Bk. or Eng., London.
Mich Trac 1st mtge_______f 1901
5 g J-J
257,000 Jan 11921
$700,000 ($1,000) g c*..ntf/Interest at N e w York Trust Co., Trustee.
Michigan Trac Ext 1st mtge/ 1903
5 g J-D
290.000 Dec 1 1923
$500,000 ($1,000) g__ c . flint, at Columbia Tr. Co.. N. Y., Trustee.
.t
Jackson & Battle Creek f r t 1903
is
5 g J-J
1,200,000 Jan 1 1923
mortgage. $1,200,000 ($1.- Interest at Citizens' Savings & Trust Co.,
000) gold ......... c*..tf Clove., Trustee, or First Nat. Bk.. N. Y.
lackson Consol Trac 1st mtge | 1904
5 g M-N
790,000 Alay 1 1934
$1,000,000 gold ($100.5500/Interest at Guardian Trust Co.. N e w York,
and $1.000)________c*tfl Trusteo.
B<m ds. — Of tho $12,500,000 first and refunding bonds, sufficient ara
resorved for prior liens and remainder for addns., bettermts and Impts.
• object to call at 110. V.82, p. 1157. Seo also V. 87, p. 167, 285; V. 88.
f
[Vol. 106.
p. 1437. Bonds are listed In London. V.90,p.914. Tho Jackson Consol.
Trac. Co. bonds are subject to call on any i t date at 105.
n.
On the Michigan Traction Co. bonds a sinking fund of 6 % of gross earn
ings commenced in 1903. to be used In buying bonds at not to exceed 110;
jtherwlse to be invested In other standard securities. V. 72, p. 391;
$443,000 Mich.Trac. 1st M.bonds and $210,000 Mich. Trac. Ext. 1st Al.
bonds were hold in sinking fund on April 1 1918 and are not included in
the amounts above.
, ,
,
The Jackson & Battle Creek bonds are subject to call In any amount
after 10 years at 105 and interest. V. 75, p. 1147.
D iv id e n d s . — 6 % i being paid on preferred stock.
s
R E P O R T . — Earnings are no longer reported separately.
R O A D . — Operates a l city lines in Jackson, Battle Creok, Kalamazoo
l
and Lansing and interurban lines between Jackson, Battle Creek and Kala
mazoo, and between Jackson, Lansing and St. Johns, Lansing andOwosso,
and from Jackson to Grass Lake and Wolf Lake; total operated, 258.90 m.
Through service between Jackson and Lansing began lu Nov. 1909. O p
erates through service to Detroit over Detroit United Ry. lines under traffic
agreement, connecting from Jackson. V .94, p. 68. 207; V .96. p. 1423.
(b) Grand R a p id s Holland & Chicago R y.
Com. Pow., Ry.&Lt. Co. owns a l the pref. ami practically a l tho com. stk
l
l
Leased to Michigan Railway Co. for 999 years rrom Jan. 1 1916.
O R G A N I Z A T I O N . — Incorporated in Michigan In July 1904 and i a re
s
organization on Aug. 1 1904 of the Grand Rapids Holland & Lake Michigan
Rapid Ry. Seo V. 79, p. 627. Power i supplied to company by Con
s
sumers Rower Co., but company maintains own station in readiness to
oporate I case of emergency. F r a n c h is e s in city of Holland and village
n
streots expiro in 1928 to 1930: remainder on privato rights of way.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Common, $500,000________ ____
_______
$487,900 --------Pref. $850,000. 6 % ... ..... -..............
836.800 ........
1st mtge. Grand Rapids Hoi. f 1900
5 g F-A
1,475,000 Aug 1 1920
& Lake Mich, $1,500,000,/Int. at Amorlcan Tr. & Sav. Bank, Chicago,
gold ($500 and S1.000).ntf( Trustee, or at Guaranty Trust Co. N. Y.
B o n d s .— A s in k in g f u n d I provided of $5,000 per annum for f r t 5 years.
s
is
510.000 per annum for second 5 years. $15,000 yearly for third 5 years and
$25,000 per annum for fourth 5 years. Bonds are not subject to c l .
al
R O A D . — Operates 76.48 m. of track from Grand Rapids through Holland
to Macatawa and Saugatuck, with steamer connection at Holland for Chic.
— V. 78. p.702; 768: V. 79. p.627; V. 96, p. 1422;. V.100. p. 140.
(2) Union Railway, Gas & Electric Co.
M e r g e r . — Under the plan dated April 26 1913, practically a l the $5,250.
l
000 pref. stock was exchanged for $5,250,000 new pref. and $525,000 new
com. stock of the Commonwealth Pow., Ry. & Lt. Co., and the $6,000,000
com. for an equal amt. of now com. or $ l.500.000 prof, aud $4,500,000 c o m .
O R G A N I Z A T I O N . — Incorp. in New Jersey June 29 1909 and acauired practically a l of stocks of Springfield ( 1 . Ry. & Lt. Co., tho Rock
l
11)
ford ( 1 . & Inter. Ry. Co., tho Peoria Lt. Co., and the Evansville
11)
Ugh* no. per plan in V. 88. p. 1501; also a l tho stock and bonds of
l
the Janesville Traction Co. ($125,000 stock, $50,000 bonds), and a l tho
l
stock ($497,500) and a l tho 1st r f bouds ($382,000) of the I)e Kalb-Sycal
e.
more fx Interurban Trac. Co. On Doc. 11 1916 tho stockholders voted to
dissolve tho Evansvillo Light Co., which owned tho entire $3,000,000 com
mon stock and $950,000 of the preferred stock of the Public Utilities Co.
The latter was Incorp. In Juno 1912 and merged the Evansville & South
ern Ind. Trac. (see “Elec. Ry. Sec.” of M a y 1912), Evansvillo Gas & Elec.
Lt. Co. and Evansv. Pub. Serv. Co. On Oct 14 1912 Circuit Judge Wil
liam Blakey sustained tho domurrer of the Public Utilities Co. in a suit
brought to dissolve the company, holding that the consolidation was in ac
cordance with the statutes (V. 95. p. 1040). and In Dec. 1912 he dismissed
the suit. V. 95. p. 1747. The Union Ry. Gas & Elec. Co. owns $1,872,000
6 % cum. prof, and a l the $5,000,000 com. stock of the Cent. Illinois Lt. Co.
l
(V. 99, p. 1132) which was incorp. in April 1913. In March 1917 Cent. I l
l,
Light Co. increased I s auth. cap. stock from $5,500,000 to $20,000,000. The
t
Union Ry.. Gas & Elec. sub. cos. own and operate street railway properties
In Springfield and Rockford, I I , Evansville, ind.. and Janesville, Wis.,and
I.
Interurban lines from Rockford to Freeport and Belvidere, 1 1 , through
1.
Beloit. Wls., to Janesville. Wis., from Do Kalb to Sycamore. 1 1 , and from
1.
Evansvillo to Princeton and Patoka, Ind.; also gas, electric and steam
heating properties In Peoria, Springfiold and Pekin, 1 1 , and Evansvillo.
1.
Ind.; electric light and power and steam heat in Do Kalb and Sycamore.
TM . and electric properties in numorous other cities and towns In Ill nois
.
i
S tr ik e . — A strike was begun July 25 1917 on tho Springfiold stroot rail
way lines tho men demanding recognition of the union andean incroaso I
n
wages. Practically normal sorvieo has boon restored.
P r o p o s e d M e r g e r H e l d U p . — In Feb. 1918 tho N. J. P. U. Comm, with
held i s approval of a proposed merger of tho Springfield Ry. & Lt. Co.
t
and tho Union Ry., Gas & Electric Co., pending further ovidonco respecting
tho assets, &c., of tho proposed merger company. V. 106, p. 608.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
See text
C o m m o n $6,000,000 ($100)— ................ $6,000,000
Pref $12,000,000 cum ($100).
.
6
Q-J
5,250.000 Apr 18. 1/4
Collateral trust mtge. gold/ 1909 5 J-J
4,000,000 July 1 193u
($500 and $1,000)__ c*„tflOomraerclal Trust Co., Phila., Trusteo.
Gold notes (Sl,000)c*.......1916
5 A-0
3,000,000 Apr. 11919
S p r in g fie ld R y . A L ig h t C o .
—
Springfield Ry&Lt c l t M (
ol r
1903 5 g J-D
3.075.000 June 1 1933
$5,000,000 g ($1.000) c*-tf\Fldollty and Columbia Tr. Co., Louisv.,tru8.
Springfield Con Ry consol/ 1893 6 g J-D
750.000 Juno 1 1933
mtg $750.000g($l,000) c.tflOolumbla Trust Co.. Louisville. Trusteo.
____
R o ck fo rd A I n te r u r b a n R y . C o .
—
_
Rockford & Inter - Urban-/ 1902 6 g A-O
1.816,000 Oct 11922
1st mtgo. gold ($500 and/ Interest at First Nat. Bk., N. Y., or at Con$1,000) $3.000,000_c*..ntf l tinen. & Cora. Tr. & Sav. Bk., Ohic..tru9.
Rockford & Freeport f r t [ 1903 6 g A U N _ 564,000 May_l 1923
is
mtge.
gu| Int. Con. *
mtge, $760,000. gold, gu/Int. at Con & Com. Tr. & Sav. Bk.. Chicago
p & I ($l.000&$500)c*_ntf l Trusteo.
1
Trustee.
Rockford Bel & Janesville 1st/ 1905
5 g A-O
985.000 Oct 11930
mtge g ($1,000) s f — c*_tf /Int. at Cont. & Cora. Tr. & Sav. Bk., Chic.,
Trusteo, or First Nat. Bank, N e w York.
D e K a lb -S y c a m o r e A I n te r u r b a n T r a c . C o .
—
De Kalb-Sycamore Electric/ 1907
J-D
6.000
1922
f r t mortgage_______ntf lint, at Cont. & Com. Tr. & S. Bk., Chic.. Tr
is
C e n tr a l I l l i n o i s L ig h t C o .
—
Peoria Gas & Elec. Co. 1st M. f 1903
5 J-J
2.500.000 Jan 1 1923
$2,500,000 g ($1,000) ..c*tflBankers Trust Co., N o w York. Trustee.
Cent 1 1 Lt 1st & ref Al $15.-1 1913 5 g A-O
1
4,266.000 April 1 1943
000,000 ($100. $500, $1.-/Bankers Trust Co., N e w York, Trusteo.
000)... ............ c*(
Citizens Gas & Electric 1st M l 1902 5 F-A 15
4,000
1922
$200,000 __________ ntf lint, at Alorchants’Loan & Trust Co.. Chic.
P u b lic U tilitie s C o .
—
Seo toxt M a r 1 1947
Public Utilities Co 1st & Reff 1917
5 g AI-S
N. Y.. and F. N. B.
Altg gold ($1,000)___ ntf/Bankers Trust Co
l Close, Trustees,
2.520.000 Jaq '18.3%
Pub Util pref $3,000,000 c u m .....
6 J-J
1.200.000 M a y 1 1921
Evansvillo El Ry 1st mtge/ 1901
4 g M-N
----------$1,200,000 g ($1,000) _c*tflint, at Farmers' L. & Tr. Co., N. Y., trusteo.
Evansv & Prince 1st mtgef 1903 5 g A-O
290.000 April 1 1923
$400,000 gold($1.000)slnk-/Int. at Clt. Sav. & Tr. Co.. Olovo., Trustee.
lng fund________ c&r..tf l or at First National Bank. N o w York.
Evansv G a s * El Lt 1st & reff 1902
5 J-D
1.200.000 June 1 1932
mortgage $1,250,000 gold/Int. at Cont. & Cora. Tr. & Sav. Bk., Chic..
($1.000)_________ c*_tfl Trusteo. or at First Nat. Bk.. N o w York.
S to ck . — Pref. stock I subject to ca l at 105 and accrued dividends.
s
l
B o n d s . — The Union Ry., Gas Sc Elec. coll, trust mtgo. i secured by de
s
posit of practically a l stocks (com. & pref.) of subsidiary cos. Additional
l
bonds may be Issued only undor rigid restrictions (V. 89. p. 226). Interest
I payable at Hodenpyl. Hardy Sc Co.. N. Y., and E. W .Clark Sc Co., Phila.
s
Bonds redeemable at par & int. on 60 days’ notice. Thoy are convertible
Into pref. stock at par. V. 89. p. 226; V. 93, p. 528. The 3-year notes
are secured by bonds of tho U Ry. G. & E. Co. and underlying companies,
aggregating $4,000,000. Red. at 100/4 and interest on Oct. 1 1918.
Interest payablo at office or agency of company In N o w York. Bankers
Trust Co., N. Y., trusteo. Additional notes may bo issued with certain
restrictions. Seo V. 102, p. 1541.
„ .........
S p r in g fie ld R a ilw a y A L ig h t S e c u r itie s . Of the Springfield Railway &
—
Light collateral trust mortgage of 1903. $128,000 are reserved for addi
tions and Improvements to constituent companies and $750,000 for prior
li n . Tho bonds are subject to call on 60 days’ notice at 107/4 and
es
In . Intorest I payable at Columbia Trust Co., Loulsvillo, and at Hodent
s
pyl. Hardy Sx Co., Inc., N. Y., and E. W. Clark & Co., Phila. Int. on
may,
Sorlngflold Consol. Ry. bonds Is payable at Fidelity and Golumbls Trust
cos., Loulsvlllo, and at Hodenpyl, Hardy & C o., Inc., N . Y .
R o ck fo r d & I n te r u r b a n R y . S e c u r itie s .— S in k in g f u n d on Rockford &
Inter-Urban bonds of 6% of gross receipts commenced In 1908. $202.
000 or bonds in add’n to those reported outstanding above are hold In the
sink fd
Add’l bonds can bo issued for extensions and Improvements at
8 5 % of cost.
The entire Issue Is subject to call at 105 and interest. The
Rockford & Freeport bonds are assumed, prln. & int., by the Rockford &
Inter-Urban Railway Co.; $61,000 are held In sink. fund. A sinking fund
equal to 5% of gross earnings began In 1910. Bonds are subject to call
at 105 and Interest. V. 78. p. 1276. A s in k in g f u n d on the Rockford
Beloit
Janesville bonds began in 1915 of 2% o f gross earnings of that
division. Thoy are subject to call at 10244 and Interest. They are guar
anteed p. & 1., by the Rockf. & Inter-Urban. $15,000 in s. f. Alar. 31 1918
D e K a lb -S y c a m o r e E l e c t r i c .. $106,000 In sinking fund.
C e n tr a l I ll i n o i s L ig h t C o . S e c u r i t i e s — Peoria Gas & Electric bonds are sub
ject to call at 105 and lnt. Int. thereon Is payable at Hodenpyl, Hardy &
Qo., Inc., N . Y . S in k in g f u n d of 5% of gross earnings began Jan. 1 1910.
S in k in g f u n d may be used by company for additions to property against
which no bonds havo been Issued. Of Citizens Gas & Electric bonds
$40,000 have boon rotlred through sinking fund. Central Illinois Light
bonds are rod. at 105 and accrued lnt. on 60 days notice. Of the remaining
bonds $2,500,000 are resorved to retire Peoria Gas
Electric 1st M . 5s,
$4 000 to retire Citizens’ Gas & Elec, bonds, while remainder are reserved
for acquisition of now property additions, impts.. &c., under certain
restrictions (V. 99. p. 1132). S in k in g f u n d of 44 or 1% p. a. began April 1
1917. of total amount of bonds of this Issue outstanding and all underlying
Issuos for tho purchase of those bonds (or call at 105) or for acQuIsitlons,
S
c
S
c
*mp ubl’i ^ U t i l i t i c s ^ C o . ^ S ecu rities. — $3,951,000 1st & Ref. M . bonds due
Mar 1 1947 have boon issued, of which $2,667,000 are In treasury and
SI 284 000 arc owned by the l/nlon Ry., Gas Sc Electric Co. $2,700,000
are r^erved for prior lions. Additional bonds may bo .Issued for 75%
of cost of additions, extensions, &c. Interest at Hodenpyl Hardy & C o.,
N Y
Callable on any interest dato at 105 and Interest. The Evans
ville Gas Sc Electric Light Co. must call at 105 and Int. 810,000 annually
on J u n fl 1 9 1 3 to 1922 inclusive, and $15,000 on June 1 1923 to 1932 inclu
sive* $50 000 have been retired. Thoy are subject to call at 105 and in
terest The Evansville & Princeton first 5s have a s in k in g f u n d o f $10,000
per annum, which began Fob. 1 1908. said fund to bo invested in the bonds
at. 105 beginning with N o. 1. $60,000 have been redeemed. Whole
Issue of thoso bonclEs may bo called at any time at 110 and int. L .W . Prior
of Cleveland Is co-trusteo of this mortgage. Evansville Elec. R y. bonds
— First dlv., 114%. on prof, paid Oct. 1909 and same amount
quar slnco to and Including Tpril 1918. First!div on c o m . - l % - p a l d
April 1 1913; July 1. 1%; Oct., 1%. In 1914, Jan., 1% . Com. Row.. Ry.
& Lt. Co. owns practically all the stock and divs. no longer made public.
E A R N IN G S — Combined earnings of subsld. cos. for 12 mos. ending
Fob 29 1916. gross, $4,931,533; net. after taxes. $2,301,635; interest charges
$1,265,894; surplus, $1,035,741.
ROAD.— Rockrord & Intor-Urban operates 36.28 m .o f trolley In Rock
ford, 13 miles between Rockford and Bolvidere; also 28 miles between Rock
ford and Freoport, and 35 miles between Rockford, III., and Beloit and
Tanesville Wis * also a 2.89-milo extension to Camp Grant. Totali
114 86 miles. Springfield R y. & Light Co. operates 4 3.29 miles in Spring
t
field
Tanesville Traction Co. operates 5 miles in Jancsvillo, Wis., and
Do Kalb-Sycamore& Interurban 'fraction, 8 miles, connecting Do. Kalb and
Sycamore III. Public Utilities Co. operates about 69 miles in EvansviIIo
and between Evansville, Princeton and l ’atoka, Ind.
O F F IC E R S__Pres.. G. E. Hardy; V.-Ps., C. M . Clark and B. C. Cobb;
Sec. & Trees., Jacob Hekma. New York.— V. 104, p. 2343; V. 106, p. 608
m Snrlnvfleld (O.) Light, Heat & Power Co.
Entlro capital stock Is owned by Com. Pow., R y. & Lt. Co.
ORGAN IZATION .— Incorporated In Malno In Aug. 1908. F ran ch ises
extend boyond maturity of bonds.
STOCK AND BONDS—
D a te.
In t e r e s t .
Common stock ($ 1 ,0 0 0 ,0 0 0 )-------— $ 1 .0 0 0 .0 0 0
4 8 0 .0 0 0 .......................
Preferred stock ($1,000,000)-- - - - ; - t- a —
Ots nin. Mtu .
u tad g a rity
6 0 3 .0 0 0 A p ril 1 1933
SP* 5nO O 0 0 ^ l 000E r°Rodl Int. at N. Y. and London.
0 t0
J S H l s r 1 » * w * -w a s
M fch. Trust
h
.i
SPPowerfirst m ortg ag e,.-tf Int. at State Sav. Bk. & Tr. C o.. Col., O.. T r.
B o n d s — Sufficient gen. and ref. bonds are reserved to retire at or before
maturity the outstanding 1st M . bonds. Remainder for extensions, en
largements and additions at 85% of cost with certain restrictions. See
V. 102. p. 1352. $65,000 first mortgage bonds In sinking fund.
EARN ING S.— Year ending Dec. 31:
S u rplu s.
1 9 M os—
G ross.
E x p '& T a x .
NeL
C h a rges.
12 M o s .
<5409°512
$377,380
$122,162
$65,216
$ 5 6 ,9 4 6
1 1 5 ,7 4 8
........... 382 307
200.585
181.723
65,975
— V. 100, P." 1923; V. 102, P. 614, 810. 1352; V. 106, p. 403.
(4) Grand Rapids Ry.— Trolloy.
All the common and $500,000 pref. stock is owned by Com. Pow., Ry
& Light Co.
o r o a n t z a TION . &C.— Incorp. in Michigan in April 1900 as a sue
cessor company to tho Consolidated St. R y. Owns and operates the entire
sbfoot railway system of Graud Rapids and vicinity. F r a n c h is e s expire in
1921 and in 1929.
Outstanding.
STOCK AND BONDS—
D a te .
In terest.
$ 2 ,0 0 0 ,0 0 0
See te x t
Stock com §2,000,000 $ 1 0 0 ) - - ------ o -'f "
2 .0 0 0 ,0 0 0 M a y ’ 18,1
Prof $2,000,000 cum 5%(§100}
- J* r.n
3 ,7 0 0 ,0 0 0 J u n e 1 1919
O R G A N I Z A T I O N .— I n c o r p . In M ic h . In 1914 a n d t o o k o v e r a n d c o n
so lid a te d th e fo llo w in g co m p a n ie s :
J ack so n G a s C o . .
I F lin t G a s C o ..
I B a y C it y G a s C o .
P o n tia c L ig h t C o . .
|S aginaw C it y G a s C o . , I K a la m a z o o G a s O o .
A s o f J a n . 1 1916 a cq u ire d gas p r o p e r ty o f th e M a n is te e P o w . & L t . C o .
Docs entire gas business in Jackson, Saginaw, Kalamazoo, Bay City,
Flint, Pontiac, Manisteo, Birmingham and Royal Oak, Mich.
S
c
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
In F e b . 1916 Issued $ 1 ,1 2 5 ,0 0 0 1st
r e f. M . b o n d s t o re tire $ 8 5 7 ,0 0 0
S aginaw C it y G a s O o . b o n d s d u e M a y 1 1916 a n d t o re im b u rs e th e c o . in
p a rt fo r p e rm a n e n t e x t s ., & c ., m a d e .
STOCK AN D BONDS—
$ 3 ,1 7 5 ,9 0 0 .......................
C o m m o n s t o c k ------------------------------------------------2 .7 5 0 .0 0 0 A p r T 8 . I X
P referred 6 % c u m u la tiv e ____________
Q -J i
1 .8 8 8 .0 0 0 M a r 1 1946
1st & r e f M g o ld ($ 1,0 00 ,1 1916
5 M -S
$500 an d $ 1 0 0 ) ............__c*J U nion T r u s t C o ., D e t r o it , T r u s te e .
3 6 7 ,5 0 0 J u n e 1 1920
B a y C it y G a s 1st M , $ 5 0 0 .0 0 0 /_ 1900
5 g J -D
g ($500 & $ 1 ,0 0 0 )____ c * t f\ ln t e r e s t a t N e w Y o r k T r u s t C o . , T r u s te e .
1904
5 M -N
4 9 3 ,5 0 0 N o v 1 1924
F lin t G a s C o 1st M , $ 50 0 ,0 0 0
($ 50 0 & $ 1 ,0 0 0 )____ c * n t f I n t . a t M i c h . T r , C o . , G r d . R a p ., T r u s te e .
1897
5 A -O
3 4 0 ,0 0 0 A p ril 1 1937
J a ck so n G a s C o m tg e , $ 3 5 0 ,
S a v . B a n k , C h i c ., T r u s t e e .
000 g o ld ( $ 1 ,000) — c * n t f Illin o is T r u s t
1900
5 J -J
3 8 8 ,0 0 0 Jan
1 1920
K al G a s C o 1st M . $ 45 0 ,0 0 0
( $ 1 ,000) ......................... c * n t f I n t . a t M ic h . T r u s t C o ., G r d . R a p ., T r u s t e e .
1902
5 J -J
1 7 9 .00 0 Jan
11927
P o n tia c _ ig h _ C o _ n s o l _ tg e
L _ t _ co
m
$ 23 0 ,0 0 0 . g ( $ l , 000) - . c * t f l l n t . a t M i c h . T r u s t C o .. G r d . R a p ., T r u s t e e
— $ 1 ,7 6 8 ,0 0 0 1st
re f. M . b o n d s are reserved t o retire p rio r Hens,
A d d itio n a l b o n d s m a y bo Issued fo r 7 5 % o f ca sh c o s t o f p e rm a n e n t e x t s ..
u n d er co n s e r v a tiv e re s trictio n s.
R e d . at 105
In t. o n a n y in t . d a te
o n 30 d a y s ’ n o tic e ; ta x -e x e m p t In M ic h . V . 1 02, p . 6 1 3 , 8 9 0 . B a y C it y
an d J a c k so n b o n d s are r e d . a t 110 & ln t .
K a la m a z o o , P o n t ia c a n d F lin t
Issues a re r e d . a t 105 & In t. I n t . o n J a c k so n G as C o . b o n d s Is p a y a b le at
H o d e n p y l, H a rd y
C o ., N . Y .
o n p r e f. h a v e been p a id re g u la rly sin ce o r g a n iz a tio n .
E A R N I N G S .— F o r 12 m o s. e n d in g D e c . 31:
S
c
Bns
o d.
Sc
e.,
S
c
Year —
Fl?$tl ,S)OB -S - - - 1- - - - - ^ JI«t •in N .Y . Bankers Trust Co.,N.Y~trus:t.
)0- -5-’
0
H ands — Romafn’dor can only bo issued for 80% o f cash cost of extensions,
enlargements and additions, when annual net earnings are twice the total
Interest charge including bonds proposed to bo issued. Redeemable, as a
S e a t 100% and int June 1 or Dec. 1 1918. Tax-exempt in Michigan.
5% has been regularly paid on pref. stock since organization.
REPO RT.— For years ending Dec. 30:
„ .
„
Y e a r—
G ross.
N e t (a ft.T a x .)
CAarcrrs.
? i (m non'
S t7 ^ lr3
<
in i 7
<21 *uv*
JWflS.684
o* 1 0 ,451«)
olUU.UUO
§75,46
1916 H i l l l|297,586
469,561
186,919 (ost.)lOO.OOO
182,642
ROAD, &C.— 28.48 miles double and 10.80 miles single track; total single.
track equivalent. 67.96 miles. 153 passenger and 27 mlsc. and service cars.
2 pleasure parks, See. Power is obtained from Consumers I owor Co.
under satisfactory long-time contract.
OFFICERS.— Pres, and Gen. M gr.. B. 8. Hanchett; V .-P ., B. O. Cobb;
Sec. & Treas., L. J. Do Lamarter. Office, Grand Rapuls,_ Mich. V. 95,
p. 891; V. 100, p. 555, 1672; V. 103, P- 144; V. 106, p. 39a, 499.
(5) Saginaw-Bay C ity Railway Co.
_
, T^ ^
Entire stock (except directors' shares) Is owned by Com.I ow.,Ry.&Lt.Oo.
ORGANIZATION.— This company is, a consolidation o f the Saginaw
Valley Traction Co. and railway dept, o f tho Bay City traction & Elec. Co.
STOCK AN D BONDS— Date.
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $2,600.000.....................All owned by Commonw. Pr. ity & Lt Co
First and refunding mortgagol 1910
5 M-S
$1,100,000 Mar 1 1935
$ 6 ,0 0 0 ,0 0 0 ($ l, 0 0 0 ) „ - c * t f (Michigan Trust Oo.. Grand Rapids, Trustee.
Saginaw Val Tr 1st M , $850,-1 1899
5 g F-A
644,000 Feb 1 1920
000. g ($1,000 e ach ),c*n tf(In t. at Boston Safe Dop. & Tr. C o., Trustee.
B o n d s .— Of the 1st & ref. bonds, $850,000 are reserved to retire Sag. Val
Trac. bonds; remainder for 85% of cost of additions, &c. Red. on any lnt.
date on 60 days’ notlco at 105 and lnt. Int. at Hodenpyl, Hardy & C o.,
V 'D p v I d c n d s ‘—
^ Ars in k in g f u n d of $8,500 per annum on Sag. Val. Trac. bonds begins Fob. 1
1907 and runs for 5 years, after which $17,000 per annum is payable, said
fund to bo lnvostod In tho bonds at not above 107 44 and lnt. Sinking fund
hold on Mar. 31 1918 $206,000 of bonds.
ROAD.— Oporatos about 63 miles o f street railway track In Saginaw and
Bay City, incl. interurban lino between tho two cltlos.
OFFICERS.— Pres., B. O. Cobb; V .-Ps., n . T . Wickes, J. E. Davidson
and J. A . Cleveland; Sec., G. B. Dobbin; Treas., J. W . Glondcnlng; Asst.
Sec. Sc Asst. Treas., 8. B . W olff.— V. 94, p. 983; V . 95, p. 298, 481.
(6) M ichigan L ig h t Co.
All the common stock Is now owned by Com. Pow., R y. Sc Light Co.
S
c
S
c
Didns
iv e d
Gross.
Exp. & Taxes.
Charges.
Net
Surplus.
$ 15 5 ,1 7 5
S 403.829
$ 1 ,8 3 4 ,4 0 7
$ 55 9 ,0 0 4
1 917____ $ 2 ,3 93 ,4 1 1
162,816
4 2 6 ,5 9 1 ,
1 91 6 ____ 1 ,7 6 9 ,6 9 9
1 ,1 8 0 ,2 9 2
5 89,407
M ile s o f m a in s, 533.
S A L E S .— C a l. y e a r 1917, 1 ,9 1 6 ,2 7 8 ,4 0 0 c u . ft
O F F I C E R S .— P r e s .. B . O . C o b b , N . Y , V .- P s .. W . H . B a r th o ld and
A . B . S lm o n o a u .— V . 102, p .
T . A . K o n n o y : S e c ., J . K . S w a n so n : T rea s
6 13 , 8 90; V . 106, p . 4 0 2 , 1039.
(7) C o n s u m e rs ' P o w e r C o .
S
c
A ll 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 .
L t. C o.
O R G A N I Z A T I O N .— I n c o r p . In M a in e In 1910, a n d In N o v . 1914 m erged
th e fo llo w in g 1 1 co m p a n ie s (p re v io u s ly co n tr o lle d b y s to c k o w n e r s h ip ):
C o m m o n w . P o w e r C o . , G ra n d R a p id s -M u s k e g o n P o w e r C o ., G r a n d R a p id s
E d is o n C o ., F lin t E le c . C o ., Saginaw P o w e r C o ., B a y C it y P o w e r C o .,
P o n tia c P o w e r C o ., C o n s u m e rs ’ P o w e r C o . ( M i c h .) , E c o n o m y P o w e r C o ..
A u S able E le c tr ic C o . a n d C e n tra l P o w e r C o .
T h is m erger m ad e th o C o n s u m e rs' P o w e r C o . ( o f M a in e ) an o p e ra tin g
c o m p a n y in ste a d o f a h o ld in g c o m p a n y and o n J u ly 20 1915 lt w as g ran ted
a ce r tifica te o f a u th o r ity t o d o busin ess In M ic h ig a n . V . 9 9 , p . 1528, 1597;
V . 101. p . 3 6 9 . A t th e sam e tim e th e R R . C o m m , a p p r o v e d th e then
o u ts ta n d in g Issues o f c o m m o n a n d preferred s to c k s and 1 st lien a n d ref.
5 % b o n d s a n d a u th o riz e d th e c o m p a n y t o Issue a d d itio n a l b o n d s fro m tim e
t o tim e u p o n p r o c u r e m e n t o r r e tire m e n t o f th e u n d e rly in g b o n d s sh o w n In
th e t a b le .
V . 101. p . 3 69 .
„
.
In J a n . 1916 a cq u ire d th e C a d illa c W a te r
L t . C o . a n d t h e e le ctric
p r o p o r ty o f th e M a n is te o P o w . & L t . C o .
In A u g . 1917 th e a u th o riz e d c a p ita l s t o c k w a s Increased fr o m $ 1 2 ,0 0 0 ,0 0 0
c o m m o n a n d $ 10 ,000,000 p re fe rr e d t o $ 20 ,000,000 o f e a ch cla ss .
STOCK A N D BONDS—
C o m m o n $ 2 0 ,0 0 0 ,0 0 0 ($ 1 0 0 )........................................ $ 1 1 ,2 5 0 ,0 0 0 .......................
P r e f $ 2 0 ,0 0 0 ,0 00 ($ 100) 6 % c u m ____
Q -J
1 0 .0 07 ,7 0 0 A p r ’ 1 8 ,1 4 4
1 s t lion a n d r e r M . $ 3 5 ,0 0 0 ,-f 1911
5 g J -J _
1 6 ,8 50 .0 0 0 Jan 1 1936
I
000, g o ld ( $ 1 ,000) ____ c H f * n ‘t . a t ~ arris T r . & S a v . B k ., C h ic a g o ,
‘ H
‘
T r u s t e e , o r H arris, F o rb e s & C o . , N . Y .
6 g J -J
4 .0 0 0 ,0 0 0 J u ly 1 1 9 1 9
2 -y o a r so cu ro d n o te s $ 4 ,0 0 0 , ’ 1917
S a v . B a n k , C h ic a g o ,
000 ( $ 1 ,000) ........................ c * I n t . a t H a rris T r u s t
tru s te e , o r H o d e n p y l, H a r d y & C o ., N . Y .
1904
5 J -D
1 .0 8 0 .0 0 0 D e c 1 1924
C o m m P o w 1st M , $ 4 ,0 0 0 ,
000 g sin k fd ( $ l , 000) _ c * t f I n t . a t F irst T r u s t & S a v . B k ., C h ic ., T r u s te e
1906
5 M -S
6 2 6 ,0 0 0 M a r 1 1 9 3 1
G r d R a p -M u s k P o w 1st M
.cvu.vw u g o l d .............. tf
$ 7 ,5 0 0 ,0 0 0 , ........................... . J n t . a t 1st T r .& S .B ., C h ic ., o r l s t N .B .. N . Y .
C a d illa c W
L t 1st M .$ 2 0 0 .-l 1905
5 M -S
133 .50 0 S e p t. 1 1 9 2 5
000 ($ 500
$ 1 , 0 0 0 ) ._c* tf| I n t . a t M ic h . T r . C o . , G r d . R a p . , T r u s te e
— P r e f. s to c k Is r o d . o n a n d a fte r J a n . 1 1920 a t 105 an d a c c r . d iv .
— O f 1st
r e f. b o n d s , s u fficie n t are reserved t o retiro u n d e rly in g
b o n d s , $ 5 ,3 3 4 ,0 0 0 are d e p o site d as s e cu rity fo r th e $ 4 ,0 0 0 ,0 0 0 2 -y e a r 6 %
se cu re d n o to s a n d rem a in d er is reserved u n d er ce rta in restriction s fo r e x t e n .
an d a d d ’ns at 8 0 % o f c o s t . S u b j. t o call a n y in t. d a y a t 105
in t. S in k ,
fu n d o f 1 % p . a . o f b o n d s o u t began J an . 1 1915.
V . 9 2 , p . 4 6 5 , 5 26, 1453.
U p t o M a r . 31 1918 n o b o n d s w ere h eld in sin k in g fu n d .
T w o -y e a r g o ld n o te s are secu red
d e p o sit o f $ 5 ,3 3 4 ,0 0 0 C o n s u m ers ’
P o w e r C o . 1st L ien & R e f. M . b o n d s . C alla ble on 4 w e ek s’ n o tic e a t 10144
and in t. p rio r t o J u ly 1 1918, a n d a t 10044 and in t. th e re a fte r. V . 105, p .
1106. 1208.
o n p r e f. h a v o been p a id re g u la rly sin ce o r g a n iz a tio n .
E A R N I N G S .— F o r 12 m o s . e n d in g D e c . 31:
—■
1 9 1 7 ____$ 5 ,7 75 ,3 7 1
$ 3 ,3 8 2 ,2 5 7
$ 2,3 9 3 ,1 1 3
$ 941,891
S I , 4 51,222
1 9 1 6 ____ 4 ,7 4 7,20 1
2 ,2 1 9,17 1
2 ,5 2 8,03 1
8 9 7 ,9 8 8
1 ,6 3 0,04 3
P R O P E R T Y .— O w n s a n d op e ra te s e le ctric lig h t a n d p o w e r p r o p e r
ties in G r a u d R a p id s , K a la m a z o o . J a c k s o n , F lin t , S a g in a w , B a y C it y .
P o n t ia c , B a ttle C r o o k , M u s k e g o n , C a d illa c , O w o s s o , M a n is te o , M a r s h a ll.
A lb io n , C h a r lo tt e , G ra n d L o d g e . A lle g a n , a n d a n u m b e r o f in te rm e d ia te
citie s a n d to w n s . H y d r o -e le c tr ic p la n ts h a v o a b o u t 1 00.000 h . p . a n d stea m
p la n ts a b o u t 101 ,00 0 h . p . c a p a c it y . T o t a l g e n e ra tin g c a p a c it y a b o u t
201,000 h . p .
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 . , E . W . C la r k , P h ila .;
V . - P . , G o o . E . H a r d y , N . Y . ; T r e a s . & S e c .. J a c o b I lo k m a . N . Y . — V . 102,
p . 253; V . 104, p . 2552; V . 105, p . 6 10, 1106, 1208; V . 106, p . 399.
S
c
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S
c
S c.
tok
Bns
o d.
SS
cc
S
c
S
c
o
y
Didns
iv e d
Ya Gos
e r r s.
Mtu .
a rity
M
47
ELECTRIC RAILWAYS
1918.]
E. &Txs Nt.
x ae. e
Cags Bl., S rp
hr e. a u .
( 8 ) M a n is t e e R a i l w a y C o .
I n c o r p . In M ic h , in M a r c h 1913. S u ccessor t o M a n is te e L t .
T rac.
C o . , so ld a t fo r e c lo s u r e In 1 9 1 2 . T h e M a n is te e P o w .
L t . C o . th en to o k
o v e r th e gas a n d e le ctric p r o p e rtie s b u t in J an . 1916 th e so w e re r e s p e ctiv e ly
a cq u ire d b y th o M ic h ig a n L ig h t C o . a n d th o C o n s u m e rs ’ P o w e r C o .
D o e s th o s treet ra ilw a y business In M a n is te e a n d F lier C it y . F r a n c h i s e
30 years fro m 1904.
— T h o c o m p a n y ’s en tire $ 1 0 0 ,0 0 0 c a p ita l s to c k and $ 6 0 ,0 0 0 1st
m tg e . 5 s, d u o 1 943, are o w n e d b y th o C o m . P o w ., R y . & L ig h t C o .
R O A D .— O p erates 7 .6 4 m iles o f tr a c k . G a u g e 4 f t . 844 in . 35 t o 100
b . T a n d 8 5 -lb . g ird e r ra ils. O p erates a 5 0 -a cr e p a rk o n L a k e M ic h ig a n .
O F F I C E R S .— P r e s ., O . J . H o lm e s ; V . - P . , W . H . B a r th o ld ; S e c ., G . B .
D o b b in ; T r e a s ., J . VV. G le n d e n ln g .— V . 8 5 , p . 8 6 4 ; V . 88 , p . 158.
S
c
S
c
S c.
tok
&
U N IT E D L I G H T
R A I L W A Y S C O .— (See M a p , page 4 8 -)
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 In J u ly 1910, p e r p lan in
V . 91, p . 96. O w ns o v e r 9 9 % o f th e c o m m o n s to c k s , o v e r 2 2 4 4 % o f th e
p r o f, s to c k s a n d o v e r 2 5 % o f th o b o n d s o f th e fo llo w in g co m p a n ie s:
L a P o r t e ( I n d .) G a s & E le c . C o .
C a d illa c ( M ic h .) G a s L ig h t C o .
M a s o n C it y
C le a r L a k e ( l a . ) R R .
C h a tta n o o g a (T e n n .) G a s C o .
O ttu m w a ( l a . ) G a s C o .
C e d a r R a p id s ( l a d G a s C o .
C e d a r R a p id s
M a r io n C it y R y . C o . P e o p le ’s G a s & E le c . C o . , M a s o n C ’ y .
F o r t D o d g e ( l a . ) G a s & E le c tr ic C o . T r i-O I ty R a ilw a y & L ig h t C o .
G ra 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 ( M ic h .) R y . C o .
T h o G r a n d R a p ld s -G ra n d n a v e n
M u s k e g o n R y . w as a cq u ire d In J a n .
1912; V . 9 4 , p . 2 09 . T h e T r l-C lt y R y . & L ig h t C o . w as tak en o v e r In June
1912: V . 9 4 , p . 7 69 . 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 cq u ire d in J u ly 1912.
In F e b . 1913 p u rch a se d th e P e o p le ’ s G a s
E le c tr ic C o . a n d th e M a s o n
O ltv
C lea r L a k e R R .
In 1913 also a cq u ire d th e I o w a
Illin o is R y .
a n d th e Io w a
111. R y . T e r m . C o ., b u t In J a n . 1916 these t w o c o s . w ere
c o n so lid a te d w ith th o D a v e n p o r t & M u sca tin e R y . (fo rm in g th e C lin to n
D a v e n p o rt
M u sca tin e R y .) u n der th e m an ag e m e n t o f th e T rI-G Ity R y .
L ig h t C o .
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
m ay,
ELECTRIC RAILWAYS
1918.]
O P E R A T I O N S .— D o e s en tire gas busin ess 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 su b u rb s o f M a r lo n a n 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 , I o w a C it y , M a s o n C it y , B e tt e n d o r f, O ttu m w a a n a
M u s c a t in e , l a . ; C a d illa c , M i c h ., L a P o r t e , I n d ., R o c k Is la n d , M o lln o ,
E a s t M o lin e , M ila n , S llvls a n d W a te r to w n , 111.; a n d C h a tt a n o o g a , T e n n .;
en tire electric-lig h t a n d p o w e r bu sin ess In D a v e n p o r t , F t . D o d g e , I o w a
C it y , M a s o n C it y a n d M u s c a t in e , l a . ; R o c k I s la n d , M o lin e a n d E a s t
M o lln o , 111., and L a P o r t e , I n d . H a s h o t w a to r a n d s te a m -h e a tin g syste m
in D a v e n p o r t and M a s o n C it y , l a . , an d L a P o r t o , I n d . O p e rate s street
ra ilw a ys In C ed a r R a p id s , M a r lo n , M a s o n C it y , M u s c a t in e a n d D a v e n p o r t ,
l a . , a n d R o c k Isla n d , M o lin e a n d E a s t M o lin e . 111.; ln tcru rb a n railw ays
aro op o ra te d betw een C e d a r R a p id s a n d M a r lo n , l a . ; M a s o n C it y and
C lea r L a k e , l a . ; D a v e n p o r t a n d C lin to n , l a ; D a v e n p o r t a n d M u s c a tin e ,
l a . ; D a v e n p o r t , l a . , a n d R o c k Is la n d , M o lin e a n d E a s t M o lin e , III., G ran d
R a p id s , G r a n d H a v e n a n d M u s k e g o n . M i c h . I n a ll. 53 c o m m u n itie s , w ith
a p o p u la tio n estim ated a t 5 7 5 ,0 0 0 a ro s e rv e d .
e xp ire fr o m
1920 t o 1960; a p p r o x im a te ly 7 3 % are In d eterm in a te o r e x te n d b e y o n d
1932.
In N o v . 1917 issued S I , 5 0 0 ,0 0 0 6 % B o n d S ecu red G o ld N o t e s , series
" A , ” t o retire $75 0 ,0 0 0 6 % n o te s m atu r in g J a n . 1 1918 a n d t o reim bu rse
th e trea su ry fo r a d d itio n s , exten sion s a n d Im p r o v e m e n ts .— V . 1 05, p . 2 18 5 .
— S to c k transfor a gen cies aro m a in ta in e d In N e w Y o r k ,
in C h ic a g o a n d In G r a n d R a p id s . See V . 9 7 . p . 1358.
S T O C K A N D B O N D S .—
Q -J
3 6 ,8 7 8 ,0 0 0 A p r '1 8 ,1 %
C o m m o n $ 1 2 ,5 0 0 ,0 0 0 (S 1 0 0 )------------1st p r e f $ 1 2 ,5 0 0 ,0 0 0 ($100)1
1 0 ,1 3 1 ,5 0 0 A p r - 18, 1 H
6 % c u m . . . ______
F irs t A r e f m tg e g o ld 5 ($ 1 0 0 ,f 1912,6 7 7„,4B 0 J u n e * 1933
g
8
,-j0
UU
1
$500 & $ 1 ,0 0 0 )____ c * A r _ t f\ N e w Y o r k T r u s t C o ., N . Y . , T r u s te e .
O o n v d e b e n tu re s g o ld ($100.1 1916 6 g M - N
2 .0 0 0 ,0 0 0 N o v 1 1926
$ 5 0 0 . $ 1 ,0 0 0 . & c ) . . c * & r * t f l i n t , a t N e w Y o r k T r . C o . . N . Y . , tru s te e .
N o te s (c lo s e d ) ($ 1 ,0 0 0 , $5001
1915 6 g J d
1 ,5 0 0 .0 0 0 J an 1 1 9 2 0
& $100) g o l d ........ ..............c * \ In te r e s t a t N o w Y o r k T r u s t C o ., tru stoo.
S ecu red n o te s ,se r “ A ” ($ 1 0 0 c ;l 1917 6 g M - N
1 ,5 0 0 ,0 0 0 M a y 1 1920
$500 & 1 ,0 0 0c*) g o ld ______t in t , a t N e w Y o r k T r u s t C o ., N o w Y o r k .
C h a tta n o o g a G as firs t m t g o f 1907 6 J-J
6 4 4 ,0 0 0 J an
1 1927
$ 1,5 0 0 ,0 0 0 g ($ 1 ,0 0 0 )_ c * t f ( I n t . a t C o n . A C o m . T r .
S a v . B k .. C h ic .,
t T r u s te o , o r F irs t N a t . B a n k . N e w Y o r k .
C h a tt G a s C o p f s to c k ($ 1 0 0 )_______
6 Q u ar
5 0 0 ,0 0 0 ______________
P e o p le 's G a s
E l G en M t g e / 1906 6 A -O
3 7 0 ,0 0 0 A p ril 1 1931
$ 5 0 0 .0 0 0 _________________ t f l I n t . a t C e n tra l T r . C o ., C h ic a g o , T ru ste e
F nh e
ra c iss
T nfe Ae c s
ra s r gnie.
Dte In rs Ots nin. Mtu .
a . teet u tad g a rity
[
,
n
&
&
Ftos.c r scvr gra a p prtie sespr tecmaie blo .
oceuitie oein ilwy roe s e e aa o pn s e w
rk
S
— 1st p rof, s to c k Is r ed . a t 105 a n d a c c r . d iv s ., $200 In trea su ry. T h e
2d p re f. s to c k w as c o n v . In to 1st p re f. o r c o m . s to c k , share fo r sharo, in 1915.
C o m . is o n ly s to c k w ith v o t in g p o w e r . V . 91, P- 96, 519; V . 92, p . 1110; V .
95, p . 421. $ 315,900 a d d ition a l c o m . s to c k is h eld in trea su ry. $478,100 o f
tho ou tsta n d in g C h a tt. G a s C o . p r e f. s to c k is ow n ed b y th e U n ited L igh t A
R ailw a y s C o .
— I n t . on fir s t a n d re f. m t g . b o n d s Is p a y a b le a t o f f i c e o f trustoo
o r C o n tin e n ta l
C om m ercia l T ru s t & S avin gs B an k , C h ic a g o .
M o r tim e r
N . B u ck n or Is co -tru s te e .
$ 4 ,0 0 0 ,0 0 0 b o n d s (n o t in clu d e d In a m o u n t o u t
s ta n d in g a b o v e ) are d e p o s ite d as s e cu rity fo r 6 % n o te s a n d $ 3 5 ,9 0 0 are In
tre a su ry . A d d itio n a l b o n d s m a y b e Issued fo r r e fu n d in g u n d e rly in g b o n d s
a n d for 7 5 % o f par va lu e o f preferred s to c k s o f u n d e rly in g co m p a n ie s r e
d eem ed or p u r c h a s e d , 7 5 % o f c o s t o f b e tte rm e n ts , Im p r o v e m e n ts a n d a d d i
tio n s, a n d fo r 7 5 % o f c o s t o f a d d itio n a l p r o p e r t y , u n d er ce r ta lu re strictio n s.
R e d e e m a b le as a w h o le o r In p a rt o n a n y In t. d a y a t 1 02 )4 a n d Int. o n 60
d a y s ' n o t lc o . A d e p re cia tio n fu n d o f 2 % o n all b o n d s o u t b e c a m e o p e ra tiv e
In 1 917. S ee d es c r ip tio n o f b o n d s In V . 102, p . 1 898. C h a tta n o o g a G a s
C o . b on d s h a v e a sin k in g fu n d o f $ 1 5 ,00 0 per an n u m fr o m 1912 t o 1926,
In clu sive, on first $ 50 0 ,0 0 0 b on d s a n d 2 % a d d itio n a l o n a n y fu r th e r b o n d s
Issued. S u b jo ct t o call at 105 a n d Int. V . 8 4 , p . 8 0 5 . $ 6 ,0 0 0 o f b o n d s
rep orted ou ts ta n d in g o w n ed b y U n ite d L ig h t
R a ilw a y s C o .
T h o $ 1 ,5 0 0 ,0 0 0 n otes o f 1915 aro secu red b y d e p o s it o f $ 2 ,0 0 0 ,0 0 0 1st
ref. 5s, d u o 1932. T h o y are re d . a t 101 a n d in t. o n 4 w e e k s' n o tlco .
T h o b o n d secured n o to s . Series “ A ” o f 1917, a ro se cu re d b y $ 2 ,0 0 0 ,0 0 0
(1 3 3 % ) 1st A ref. 5s.
A d d itio n a l b o n d s o f this o r s u b se q u e n t scries
m a y b o c er tified o n ly u p o n d e p o s it o f a d d itio n a l 1st & re f. 5s In th o sam o
r a t io .
S u b seq u en t series m a y n o t m a tu r e earlier than M a y 1 1920, n or
la ter than N o v . 1 1927. P ro c e e d s fro m 6aIo o f a d d itio n a l n o to s m a y bo
u sed fo r a d d itio n s , & c ., and fo r a cq u is itio n s . N o to s o u ts ta n d in g a t a n y
o n e tim o n o t t o e xceed $ 5 ,0 0 0 ,0 0 0 . C o . will p a y n orm a l F ederal in co m e
ta x n o t In excess o f 2 % ; P a . 4 -m ill ta x re fu n d e d .
Series “ A " n o te s r e d .,
all o r p a r t, a t 10034 a n d in t . o n 4 w e e k s ’ n o t lc o .— V . 105. p . 2 185.
— T h e d ir e c t o b lig a tio n o f th e c o . N o m o r tg a g e m a y b e cr e
a ted Junior t o tho 1st & r e f. M . w ith o u t e q u a lly s e cu rin g th e d e b a. A t n o
tim e sh a ll th ere be o u ts ta n d in g d e b s . In excess o f 7 5 % o f th e to ta l o f 6 %
p r e f. s to c k ou ts ta n d in g . N o fu r th e r d e b s , m a y b e Issued u n less earns,
a v a ila b le fo r Interest ch arges a re 3 tim es th o re q u ire m e n ts ou th e d e b .
th en o u ts ta n d in g . In cl. th os e a p p lie d fo r as w oll as th e In t. u p o n a n y u n
secu red d e b t . T h e y aro ca lla b le , a ll o r p a r t , u p o n 4 w eeks' n o t ic e t o N o v . 1
1921 at 102 and I n t ., a n d th e re a fte r a t 101 a n d In t. C o n v e r tib le u p o n 10
d a y s ’ n o t lc o from N o v . 1 1918 t o N o v . 1 1923 In cl. In to 6 % p r o f, s to c k
a t th o ra te o f $ 1,1 25 p a r v a lu e fo r e a ch $ 1 ,0 0 0 p a r v a lu o d e b . T h e c o . w ill
p a y th e n or m a l F ed era l In com e t a x n o t In e xce ss o f 2 % . P a . S ta te ta x re
f u n d e d . V . 103. p . 2 0 7 9 .
„
_
— T h e c o . m u s t s e t a sid e y e a rly n o t
loss th a n 1 23 4 % o f its gross e a rn in g s, a n y p a r t o f w h ic h n o t a ctu a lly e x
p e n d ed In uu y ca lon d a r y o a r fo r rn a ln t., A c . , t o b o u sed fo r e x te n s io n s , a d
d itio n s , A c . , a ga in st w h ic h n o a d d itio n a l b o n d s m a y b o Issued.
o f 134
h a v e been p a id q u a r. o n 1st p ro f, sin ce O c t. 1910 to
and Incl. A p r . 1918. T h e seco n d p re f. receiv ed
q u a r. fro m O c t. 1910
to J u ly 1915.
W as then c o n v e rte d in to 1st p ro f, a n d c o m . s tk . A s t o s to c k
d l v . o n c o m ., see V . 9 4 , p . 1250.
D iv s . o f 1 % o n c o m . w ero p a id q u a r.
from A p ril 1913 u p t o a n d in c l. J u ly 1914. N o n e t o O c t . 1 9 1 6 .w h en 1 %
w as p a id ; sam o ra te q u a rterly sin ce t o a n d in cl. A p ril 1918. A s to c k d iv i
d e n d o f 1 % , p a y a b le in co m m o n s to c k , w as p a id A p ril 1 1914 in a d d itio n
t o th o regular d iv id en d o f 1 % p a id o n th e sam o d a to . V . 98, p . 525.
R E P O R T .— R e p o r t fo r ca le n d a r y e a r 1917 in V . 106, p . 1789, 1804.
Bns
od.
&
&
&
Dbn re.
ee tu s
Min nneail Dp c tio F n.
a te ac n e reia n u d
Didns
iv e d
%
%
%
b s rn ab N
ins p x e
Dc Ya Cmre.EEinsoTus iat.Cmaie. c S rp s
e. e r o God ax .g&fS. id rg o pn s . u lu.
&
Ino eAcut, Uite L h ARilwy C.fo Ya e d gDc
cm con n d igt a as o r e rs nin e.
31
—
I n f .,
1 91 7 ........................$ 7 ,7 0 5 ,2 6 9 $ 5 ,0 4 6 ,9 0 8 $ 2,6 58 ,3 6 1 $ 1,4 9 4 ,6 8 8 8 1 ,1 63 ,6 7 3
1 ,3 9 0,51 3
1,2 7 5,88 0
1 9 1 6 ........................ 6 ,8 8 5 ,7 7 9 4 ,2 1 9 ,3 8 6 2 ,6 6 6 ,3 9 3
31.
1917.
1917.
1916.
1916.
In te re st
on
E arn s, on stk s.
bonds
and
o f s u b . c o s . $ 1 ,1 50 ,3 6 9 $ 1 ,2 5 7 ,4 9 0
n o t o s ............. $703 ,0 5 0
O th er in c o m e .
9 0 4 ,52 5
661,331
$578 ,6 4 0
P referred d iv i
den ds ...........
605 ,55 7
T o t a l .............$ 2 ,0 5 4 ,8 9 4 $ 1,918,821
595,792
E x p s . A ta x e s .
147,273
146,908
T o t a l d e d u c t .$ 1 ,3 0 8 ,6 0 7 $ 1 ,1 7 4 ,4 3 2
$597 ,4 8 0
N e t e a r n s ..$ 1 ,9 0 7 ,6 2 1 $ 1 ,7 71 ,9 1 3 B a l., s u rp lu s . $ 59 9 ,0 1 4
— Y e a rs en d e d S e p t. 30:
1915.
1916.
1917.
1914.
1 ,352.435
1 ,4 0 7 ,2 4 3
1 ,605,293
M . c u . f t . o f gas s o ld
1 ,2 8 1,28 4
9 1 ,4 44 .7 6 7 1 0 6 ,68 2 .7 2 6 122.71 9 ,0 3 2
K . w . h . elec, en ergy s old 8 9 ,9 18 ,0 6 3
R e v e n u e passengers:
U rban ra ilw a y s_______ 3 4 ,1 7 9 ,8 4 4 3 2 ,0 6 1 ,9 5 8 3 4 ,8 6 3 ,5 2 0 4 1 .1 5 0 ,8 1 9
1,68 4,12 6
1.7 9 6,71 5
In teru rb a n r a i l w a y s ..
1 ,8 1 2,88 5
1,8 5 3,49 9
D u rin g th o ca l. y ea r 1917, s o ld 1,670,311 M . c u . f t . o f ga s , 132.204,323
k .w .h . o f ele c tr ic ity an d ca rried 4 3 ,7 7 7 ,9 0 3 r o v . passengers o f a ll classes.
P R O P E R T Y .— E le c tr ic ligh t a n d p o w e r Is fu rn ish ed fr o m 8 cen tra
sta tion s w ith a tota l gen era tin g c a p a c ity o f 7 3,5 50 h . p ., a n d fr o m 3 w ater
p o w e r d o v o lo p m e n ts w ith 6 ,4 5 0 h . p ., a to ta l o f 8 0,0 00 h . p .; 13 1 m iles o f
n lg h -ten sion transm ission lines, 2 ,5 6 6 m iles o f d istrib u tin g lines, su b -sta
tion s, A c . G as is s u p p lied fro m 11 sta tio n s w ith 931 m iles (3 -ln ch . e q u iv .)
o f gas m ain s: annu al sales are in excess o f 1,700,00 0 ,0 0 0 c u . f t .
T ho com
p an ies c om b in ed h a v e o v e r 57,081 gas and o v e r 3 6,1 70 e le ctric cu sto m e rs.
T h e streot an d in teru rba n railw ays h a v e a to ta l m lleago o f s in gle tra ck
o f 2 72 .84 m iles.
O F F I C E R S .— P r o s ., F ra n k T . I lu ls w lt , C h ica g o ; V .- P s ., R ich a rd
S ch a d d elee, G ran d R a p id s ; J . F . P o rte r, K ansas C it y , M o . ; C . M . H u rd a n d
T . J . W o b c r , b o th o f G r a n d R a p id s ; S e c ., L . H . I le ln k o , G r a n d R a p id s ;
T r o a s .. O . M . H u r d , G r a n d R a p id s . G en eral o f f i c e , P o rtla n d , M e .;
e x e c u tiv e o f f ic e , C h ic a g o ; o p e r a tin g h e a d q u a rte rs, G r a n d R a p id s ; o p e ra tin g
hea d q u a rters fo r Io w a d is tr ic t, D a v e n p o r t, I o w a .— V . 105, p . 2 91, 4 99 ,
8 2 0 , 1421, 1709, 2 09 5 , 2185; V . 106, p . 191, 7 11, 1680, 1789, 1804.
Oea gS tis s
pr tin ta tic.
(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 ird -r a il sy s te m . E n tir e s to c k o w n e d b y U nited L ig h t & R y a . 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 ich ig a n o n M a r c h 6 1899. O w n s
and op era tes an ele ctric ro a d o n fo n ce d rig h t o f w a y , c o n n e c t in g th e th ree
49
citie s n a m e d In th e t it le , a d is ta n ce o f 41 m ile s . F ra n ch ises In all to w n s
th ro u g h w h ic h It passes e x te n d t o 1929; oth e rw ise p riv a te rig h t o f w a y .
STOCK A N D BONDS—
S to c k . $ 1 ,2 0 0 ,0 0 0 ($ 1 0 0 )_ .....................
.................... $ 1 ,2 0 0 ,0 0 0 ..........................
1st m tg e . $ 1 ,5 0 0 ,0 0 0 ($ 1 ,0 0 0 )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 / I n t . a t G u a r a n ty T r u s t C o . , N . Y . . T r u s t e e .
— E n tir e s t o c k , e x c e p t d ir e c to r s ' sh a res, d e p o s ite d u n d e r U n ite d
L ig h t A R y s . C o . 1st a n d r e f. m tg e .
— T h e in terest o n o u ts ta n d in g b o n d s w a s g u aran te e d fo r 5 yea rs
b y th e S e cu rity In v e s tm e n t C o . o f P itts b u r g h . S ee V . 7 6 . p . 4 7 9 . $ 2 ,0 0 0
o f o u ts ta n d in g b o n d s h e ld b y U n ite d L ig h t A R a ilw a y s C o .
R O A D .— E x te n d s fr o m G ra n d R a p id s In a n o r th w e ste rly d ir e c t io n t
M u s k e g o n , w ith a b ra n ch t o S prin g L a k e a n d G r a n d H a v e n . C o n n e c ts a t
G ra n d H a v e n w ith G o o d r ic h L in e o f s te a m e rs fo r C h ic a g o a n d C r o s b y L in e
o f s tea m ers f o r M ilw a u k e e , w h ich a re In o p e ra tio n a ll th e y e a r r o u n d . T o t a l
tr a c k , 5 1 .4 8 m ile s, o f w h ich 4 .2 2 m . In G r a n d R a p id s a n d 3 .4 3 m . In M u s
k e g o n are o p e ra te d u n d e r fa v o r a b le tra ck a g e a g re e m e n t w ith th e G ran d
R a p id s R y . a n d th e M u s k e g o n T r a c . A L t g . C o . 7 0 -lb . T r a il. O p erates
21 pa ssen ger, 12 express a n d 8 w o r k ca rs . A ls o d o e s a fr e ig h t, m all and
A m e rica n E x p re s s b u sin e ss.— V . 9 4 , p . 2 0 7 ; V . 1 00, p . 9 0 1 , 1 67 2 .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S c.
tok
Bns
od.
(3) T h e T r i - C i t y R a i l w a y & L i g h t C o .
In J u n e 1912 co n tr o l w as a cq u ire d b y th e U n ite d L ig h t A R y s . O o .
T r i-C it y R y . A L t . c o m . s to c k h o ld e rs re ce iv e d In e x c h a n g e fo r th e ir sh a res
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. a n d $12 5 0 2d p r e f.
% s t o c k .— V . 9 4 , p . 7 6 8 . T h e U n ite d L t . A R y s . C o . o w n s $ 8 ,9 1 5 ,9 0 0
c o m m o n a n d $ 17 3 ,8 0 0 p referred s to c k .
O R G A N I Z A T I O N .— I n 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 a d d
o w n s all th o s t o c k , e x c e p t d ir e c to r s ' s h a re s, o f th e fo llo w in g co m p a n ie s
T r l-G it y R a ilw a y C o . o f I o w a .
M o lin e -R o c k Isla n d M f g . O o .
fg
P e o p le ’s L ig h t C o .
T r i- C it y R y . C o . o f Illin o is .
M o lin e R o c k Isla n d A E a s t . T r . C o . C lin to n D a v e n p . A M u s c a t . R y . C o .
M o lin e E . M o lin e A W a t e r t . R y . C o . M u sca tin e L ig h tin g O o .
P e o p le 's P o w e r C o .
W a t c h to w e r A C a m p b e lls ' lie . P k .C o .
I o w a C it y - - -h-t -A P o w e r C o .
Oit; L ig
C o n tr o ls all gas p la n ts , e le c tr ic -lig h tin g co m p a n ie s a n d s tr e e t ra ilw a y
lines In th e citlo s o f D a v e n p o r t , I o w a C it y , M u s c a t in e , B e tt e n d o r f a n d
R o c k in g h a m . I a ., a n d R o c k Is la n d , M o lin e . E a s t M o lin e a n d o th e r s m a lle r
to w n s in I llin o is , a n d an Interu rban c o n n e c tin g M u s c a t in e , D a v e n p o r t an d
C lin to n . P o p u la tio n s e r v e d , a p p ro x im a te ly 1 7 7 ,0 0 0 .
R a ilw a y
e xten d t o 1930, 19.35 a n d 1951; e le ctric
t o 1935 a n d 1 94 3 . a n d
gas
t o 1929, 1933 a n d 1043.
In J a n . 1916 th e p ro p e rtie s o f th e Io w a A Illin o is R y . a n d I o w a A Illin o is
T e r m in a l R y . co m p a n ie s (fo r m e r ly o w n e d b y th e U n ite d L ig h t A R y s . C o .)
w ere a cq u ire d a n d m erged w ith th e D a v e n p o r t A M u s c a tin e R y . , fo rm in g
th e C lin to n D a v e n p o r t A M u s ca tin e R y . A ll o f th o $ 1 ,0 6 3 ,0 0 0 1st M .
b o n d s o f th o I o w a A Illin o is R y . o u ts ta n d in g h a v e been a cq u ire d b y th e
T r i-C ity R a ilw a y A L ig h t C o .
STOCK A N D BON DS—
__________ $ 9 ,0 0 0 ,0 0 0 A p r ,'1 8 , 1 %
C o m m o n $ 9 ,0 0 0 ,0 0 0 ($ 1 0 0 )___ ______
P r e f $ 3 ,0 0 0 ,0 0 0 6 % cu m ( $ 1 0 0 ) ____
6 Q-J
3 ,0 0 0 .0 0 0 A p r .'1 8 . I K
C o ll tr u s t fir s t Hen m o r tg a g e ! 1906
5 g A -O
7 .4 7 7 .0 0 0 A p ril 1 1923
$ 9 ,0 0 0 ,0 0 0 s f ______c A r t f J I n t . a t N . Y . T r u s t C o ., N . Y . , T r u s te e .
1st A r e f m tg e $ 20 ,0 0 0 .0 0 0 1 1910
5 g J-J
8 .3 2 9 ,0 0 0 J u ly 1 1930
g o l d ________________ c * A r * t f | I n t . a t C e n tra l T r u s t C o ., N . Y . , T r u s t e e .
T r i-C it y R a ilw a y 1st M ____ t f 1902
5 M -8
5 4 .0 0 0 S e p t 1 1922
I o w a C it y L ig h t A P o w e r
1912
5 M -S
4 0 0 .0 0 0 S e p t 1 1932
re fu n d in g m o rtg a g e ( $ 1 , In te re st a t C o n tin e n ta l A C o m m 'l T r u s t A
S a v . B a n k . C h ic a g o , T r u s t e e .
000.000 ( $ 1 . 000) ..........c * t f
Io w a C it y G a s A E le c tr ic 1st " 1909
6 M -N
2 3 8 ,5 0 0
See te x t
m o r tg a g e $ 4 0 0 ,0 0 0 ______t f I n t . a t C h ic . T r . A S a v . B a n k , T r u s t e e .
— P r o f, s to c k Is red eem a ble a t 120 and a o cu m . d iv s . See V . 8 2 7 .
p . 1213. L iste d on M o n tr 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 a n g e s .
— O f th e $ 9,0 0 0 ,0 0 0 c o ll, tru st b o n d s , $ 1 ,3 5 0 .0 0 0 h a v e been retired
by s in k . f d .
S u b ], t o ca ll o n a n y Int. d a te at 105 and In t. A
or $ 5 0 ,0 0 0 p e r a n n . fr o m J an . 1 1908 t o 1913; $15 0 ,0 0 0 fo r su c c e e d in g 5 years
then $ 2 5 0 ,0 0 0 per a n n . t o m a t u r it y . C o u p o n b o n d s are In d e n o m in a tio n
o f $ 1 ,0 0 0 a n d registered b o n d s In $ 1 ,0 0 0 , $ 5 ,0 0 0 o r $ 1 0 ,0 0 0 an d m u ltip le s
T h e y a re listed on N . Y . S to c k E x ch a n g e . O f th e le t A r e f. b o n d s , s u f
flcie n t a ro roserved fo r p rio r lien s, a n d rem ain d er fo r 8 5 % o f c o s t o f ad
dltlon8 a n d im p r o v e m e n ts. S u b je c t t o call a t 105 a n d in t. on a n y In t. d a te
S lu k ln g fu n d o f 1 ) 4 % o f b o n d s o u t begin s F e b . 1 1924. V . 9 3 . p . 1465
$ 5 ,1 2 3 ,0 0 0 o f o u ts ta n d in g 1st A re f. b o n d s are ow n e d b y U n . L t . A R y a .C o
O f th e $54 ,00 0 T ri C it y R y 1st M . 5 s, U n ite d L ig h t A R y s O o . o w n s $ 1 3 ,00 0
O f th o Io w a C it y L t . A P o w . O o . b o n d s , $238 ,5 0 0 are roserved t o retire
p rio r Itons and $ 34 4 ,5 0 0 fo r new c o n stru c tio n at 8 5 % o f c o s t . A ll th e o u t
sta n d in g b o n d s are o w n e d b y T r i-C it y R y . A L ig h t C o . T h o I o w a C it y
G as A E le c , b o n d s m a tu r e serially $ 4,0 00 t o $ 9,0 00 a n n u a lly fr o m M a y 1
1912 t o M a y 1 1927 a n d $ 13 5 ,0 0 0 In 1928. S u b j. t o call at 105 a n d in t.
on a n y Int. d a to a fte r M a y 1 1919. A d d itio n a l b o n d s m a y b e Issued fo r
8 0 % o f c o s t o f exte n sio n s a n d b e tte rm e n ts . $ 1,5 00 o w n e d b y U n . L t . A
R ys O o.
.
— F irst d l v . on p r e f .. 1 U % . paid J u ly 1 906. a n d 1 ) 4 % q u a r .
sin ce t o a n d Inclu din g Apr. 1918.
A d iv id e n d o f 1 % w as p a id on th e c o m
m o n s to c k J a n . 1 1915 (p r a c tic a lly all o f this s to c k Is o w n e d b y U n ited L ig h t
A R y . C o . and p re v io u s d isb u rsem en ts w ere n o t m a d e p u b lic ), a n d q u a r .
sln co t o and In cl. Apr. 1918R O A D .— O perates o v e r 170 m iles o f s ta n d a rd -g a u g e t r a c k , c o n n e c tin g th e
e ltlc e o f C lin to n a n d D a v e n p o r t , Io w a , a n d R o c k Isla n d . M o lin e a n d E a s t
M o lln o . 111.; In clu d in g an e xten sion t o M u s c a tin e p la c e d In o p e ra tio n In
1912 a n d c i t y lin es In M u s c a t in e . 8 0 -lb . g ird e r a n a 60 t o 7 5 -lb . T ra il.
O F F I C E R S .— P re s ., B . J . D e n m a n , D a v e n p o r t ; V .- P ., R ic h a rd S ch a d d e leo, G ra n d R a p id s ; V .- P ., U . R . T o b o y , N . Y .: S e c ., I I . E . W eek s; T r e a s .,
F ra n k T . H u ls w it — V . 100, p . 56; V . 105. p . 8 2 0 , 1709; V . 106, p . 2 9 8 .
f
fra c iss
nh e
fra c iss
nh e
fra c iss
nh e
Dte In rs Ots nin. Mtu
a . teet. u tad g a rity
S c.
tok
Bns
od.
skgn
ininfud
Didns
iv e d.
(3) C ed a r R a p id s
&
M arlon C ity R y .
F nh e
ra c is
O R G A N I Z A T I O N .— In c o r p . M a y 1891 In I o w a .
In C e d a r
R a p id s exp ires 1941 and In d eterm in a te on Interu rban . T h e U n ite d L t .
A R y s . C o . ow n s $ 584,801 s to c k , S 1S 4.000 b o n d s a n d $ 380 c e r tifica te s o f
in d e b te d n e ss .
STOCK AN D BON DS—
....................
$ 6 5 0 ,0 0 0 .......................
S to c k $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )_ ....................
F irst m tg e $ 2 5 0 ,0 0 0 ($ 1 ,0 0 0 )/ 1891
5 J -J
184,000 J u ly 1 1 9 3 1
c . n t f |Int. a t A m o r . T r . C o .. B o s t o n . T r u s t e e .
C e rtifica te s o f In d e b te d n e ss___ ______
____________
$ 1 6 ,5 2 8 S e p t 1 1919
— O f re m a in in g b o n d s , $ 2 5 ,0 0 0 are In trea su ry a n d $ 4 1 ,0 0 0 are
held In s in k . fu n d .
R O A D .— O w ns ro a d n o p o ra t lo n , 2 8-90 m iles In le n g th , e x te n d in g fr o m
C e d a r R a p id s , I o w a , t o M a rlo n : se co n d tra ck . 2 .2 8 ; s id in g s . 3 .1 7 ; t o ta l o f
a ll. 2 8.9 0 m iles. R a lls . 4 5 . 60 a n d 8 0 -lb . T .
Dte In rs Ots nin. Mtu .
a . teet. u tad g a rity
Bns
od.
(4) M ason C ity & C le a r L ake R a ilro a d C o .— A trolley road.
In F e b . 1913 tho U nited L ig h t A R y s . C o . a cq u ire 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 e rate d sin ce J u ly 1 8 9 7 .
O w ns righ t o f w a y 33 fe e t w id e fr o m M a s o n C it y t o C le a r L a k e . 9 m iles
L en g th o f line w ithin a n d b etw een th e tw o citie s , 18-6 m . H an d les all
freigh t co m in g o v e r M in n . A S t. L o u is , C h ic . R . I . A P a c .. C h ic a g o A N o r t h
W e s t, and C ld c . G r o a t W e s t, ra ilw ays betw een M a s o n C it y aud C le a r L a k e .
run u n til O c t . 31 1935.
STOCK A N D BO N DS—
S t o c k $ 1 ,0 0 0 .0 0 0 .......................................
....................
$ 4 0 0 ,0 0 0 .................. . .
G en eral m o rtg a g e $ 2,5 0 0 .0 0 0 1 1912
6 g J -D
3 1 6 ,0 0 0 Juno I 1932
g o ld ( $ 1 , 0 0 0 ) __________c * t f J In t. a t F irst T r . A S a v . B k .. C h ic ., T ru s te e .
— R e m a in in g b o n d s are fo r extensions a n d be tte rm e n ts a t 7 5 % o f
c o s t , p ro v id in g annual net earnings are 1J£ tim es Int. ch arge (In cl. b on d *
t o bo Issu e d ). R e d . a t 105 a n d Int. on a n y Int. d a y . S in k in g fu n d o f 2 %
per annu m began June 1 1913 t o p ro v id e fo r ad d itio n s a n d b e tte rm e n t*
o r fo r p u rclia so o f b o n d s . $ 8 ,5 0 0 o f o u ts ta n d in g b o n d s o w n e d b y U . L . R y s .
O o . V . 9 4 , p . 1 7 6 4 . __________ ______________
Fac iss
r nh e
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od.
GREEN BAY, WIS.
W I S C O N S I N S E C U R I T I E S 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 .— I n c o r p . In W isco n sin o n D e c 12 1911 and Is p u r e
ly a fin a n c in g c o m p a n y (V . 9 4 . p . 6 3 2 ). C o n tro ls W isco n sin P u b . S e rv .
.C o . A ls o ow n s th e $ 15 0 ,0 0 0 o u ts ta n d in g c o m m o n s to c k o f th e S h e b o y g a n
Gas Light Co. (V. 100, p. 738) and a large interest in tho Wisconsin Ry.,
Lt. A Pow. Co., which see under “ La Crosse. W is.” In Doc. 1916 acquired
all tho stock of the Manitowoc (Wis.) A Northern Traction Co., operating
an electric railway between Manitowoc and Two Rivers, about 10 miles.
V. 104, p. 75. Also owns the Calumet Serivce Co. of Chilton, AVIs., and
controls the Baltimore (M d.) Dry Dock A Ship Building Co.
[Vol. 106
ELECTRIC RAILWAYS
50
D
In ret. Ots nin. Mtu .
te s u tad g a rity
STOCK A N D BON DS—
.................... $ 1 ,3 0 0 ,0 0 0 ..........................
S to c k , $ 2 .0 0 0 .0 0 0 ............................ .
Gas
—
C o m m o n . $ 2 5 0 , 0 0 0 . . . .......... ($ 15 0 ,0 0 0 o u t— A ll o w n e d b y W ise . S o cu r. C o .)
F irst m o rtg a g e $ 25 0 ,0 0 0 g o ld 1 1901
5 g J -J
2 5 0 ,00 0 J u ly 1 1931
($ 1 ,0 0 0 & $ 5 0 0 )______ c * t f j l n t . a t U n io n T r u s t C o ., D e t r o it . T r u s te e .
O F F I C E R S .— P r e s ., C le m e n t C . S m ith ; V .- P s ., O liv e r C . F u lle r; S ec.
a n d T r e a s ., H o w a rd G reen e; A s s t. S e c .-T r e a s ., H . C . M a c k a y .— V . 94.
p . 6 32; V . 100, p . 1924; V . 104, p . 75.
(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
a n d m erger o f th e G reen B a y T r a c t . C o . a n d N o rth e rn I ly d r o - E le c . C o .
O w n s a n d op era tes entire c it y a n d Interurban ra ilw a y s y s te m (e x c e p t a b o u t
1 60 m . o f tra ck ) cen ter in g a t G reen B a y , a n d furnishes ga s , ele ctric ligh t a n d
n ow er t o G reen B a y a n d s u b u r b s . O n J a n . 1 1914 th e e n tire p r o p e r ty o f
E le c tr ic C o . a n d th e M in a h a n E le c tr ic C o . w as p u r
th e G reen B a y G a s
c h a s e d . F o r p a rtic u la r s o f G reen B a y G a s & E l. C o . , see V . 8 2 , p . 5 7 3 , 6 3 1 ,
a n d V . 8 8 , p . 172. S tre e t ra ilw a y
Is p e rp e tu a l a n d e xclu siv e
u n til 1918.
STOCK A N D BO N D S—
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 0 0 ,0 0 0 6 % cu m ( $ 1 0 0 ) ----------------------6 0 0 ,0 0 0 ------------------1 st m tg e . & r e 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 * t f / I n t . a t W isco n sin T r . C o . , M ilw a u k e e , trua.
G reen B a v G
E 1st & r e f M l 1905
5 g M -N
4 4 5 ,0 0 0 M a y 1 1935
* 7 5 0 .0 0 0 . g ($ 1 .0 0 0 )____ c * f l n t . a t W isco n sin T r . C o ., M ilw a u k e e , tru e.
G reen B a y L ig h t & P o w fi r s t / 1899
F -A
2 8.0 00 F e b 1 1919
m o r t g a g e ___________________l i n t , a t F irst N a t . B a n k , M i l w ., a n d F irst
( T ru s t C o ., M ilw ., T r u s te r .
— W is e . P u b . S c r v . b o n d s are s u b j. t o ca ll o n a n y in t . d a y a t 106
a n d in t. R e m a in in g b o n d s a re fo r a cq u isitio n s a n d t o retire u n d e rly in g
b o n d s u n d er certa in res trictio n s. See V . 9 4 . p . 1697.
of 2%
o f b on d s o u ts ta n d in g b ega n in 1917. T h e G reen B a y G as & E le c tr ic
b o n d s are s u b je c t t o ca ll a t 105 u n til 1924; th e re a fte r a t pa r; $ 4 9 ,0 0 0 h a v e
been p a id a n d c a n c e le d . $ 2 8 ,00 0 a re in h an ds o f a tru stee t o rotlro th e
G reen B a y L ig h t & P ow e r b o n d s a n d $ 22 8 ,0 0 0 a re p le d g e d as a d d itio n a l
s e cu rity u n d er th e W is e . P . S . C o . 1st M . & r e f. b o n d s .
E A R N I N G S .— O f c o m b in e d p r o p e rtie s fo r 12 m o s . e n d in g J u n e 30:
—
1916-17
-$ 5 5 8 ,4 1 8
$ 25 4 ,8 3 9 $ 6,1 53 $156 ,4 0 7 $ 2 4 ,38 0 $ 8 0 ,2 0 5
1 9 1 5 - 1 6 - : - - 519!231 2 4 9 .3 8 0
4 ,4 1 0
152 ,99 5
.............
100,795
R O A D , & C .— O w ns a n d op e ra te s all lines In th e c it y o f G reen B a y ; a lso
a lin e fr o m G reen B a y to E ast D e P e r o , a n d b ra n ch t o D u c k C reek a n d a
line fr o m G reen B a y t o W e s t D e P e r e , L it tle R a p id s , W rig h ts to w n a n d
K a u k a u n a ; t o t a l . 42 . 68 m iles o f tr a c k . 70 a n d 8 5 -lb . *‘ T ” a n d g ird e r rail;
26 m o to r cars; 4 trailers. G a s m e te r s, 3 ,4 5 0 : e le c tr ic m e te rs, 2 ,5 7 5 .
O F F I C E R S .— P re s ., C lo m e n t C . S m ith , M ilw a u k e e ; V .- P ., C . R . P h e nictn G reen B a y ; S ec. & T r e a s ., H o w a rd G ro e n o , M ilw a u k e e ; G e n . M g r .,
J . P .’ P u llia m , M ilw a u k e e .— V . 9 4 , p . 1697.
A s a resu lt o f these a cq u isitio n s , s to c k w as Increased fro m $ 7 4 ,5 0 0 , a ll o f
o n e c la ss, t o $ 5 0 0 ,0 0 0 , o f w h ich $150 ,0 0 0 Is 6 % c u m . p r e f. s to c k .
T h e G o v e r n o r o f M a s s . In M a y 1915 sign ed a bill a u th o riz in g th e c o m
p a n y t o a b s o rb th o C o n n e c tic u t V a lle y S t. R y . b y c o n s o lid a tio n o r p u r
c h a s e . V . 100. p . 1833.
.— In M a y 1918 w as a u th . b y th o M a s s . P . S. C o m m , t o
e lim in a te th o 5 -ce n t fa re lim it a n d t o a d o p t z on es o f a b o u t 1 m ilo in len g th
w ith a fa ro o f 5 ce n ts fo r th o first 3 z on os o r fr a c t io n t h e r e o f a n d 2 cen ts
fo r e a ch a d d itio n a l z o n o . V . 106, p . 2 01 1 .
STOCKS A N D BONDS—
$ 35 0 ,0 0 0 I n ’ 1 4-’ 1 5 .2 H
C o m m o n $ 3 5 0 .0 0 0 ..........................................................
P r e f 6 % cu m $ 1 5 0 ,0 0 0 ...........................
Q -F
150,000
S ee te x t
1st & r e f M $ 50 0 ,0 0 0 ($ 1 ,0 0 0 / 1913
5 g M -N
. 3 1 5 .0 0 0 M a y 1 1 9 4 3
r e d 'l o n 4 > i % Int bas _ c * t f l i 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.
G a rd W e stm & F itch b u rg 1 st] 1900
5 F -A
185 ,00 0 F e b 1 1920
m tg e ($ 1 ,0 0 0 ) g o l d — c * n t f l 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 .
3 0 0 ,0 0 0 .......................
N o t e s p a y a b le D e c . 31 1917............................................
.— O f th e $ 5 0 0 ,0 0 0 1st & r e f. b o n d s , $ 18 5 ,0 0 0 are reserv ed to
retire an e q u iv a le n t a m o u n t o f u n d e rly in g b o n d s . N o sin k in g fu n d .
.— T h e A u g . 1917 d iv . o f 1 H % o n th o p r e f. s to c k w as d e fe rre d .
N o n e s in ce .
„
„
„ ,
„
„ ,
GREENFIELD, MASS.
GREENSBORO, N. C.
Seogn L h C.
hbya igt o
&
fra c is
nh e
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S
c
Bns
od.
Ya
er
S k gfu d
inin n
Gos Nt(a x O .In.B .,& t. S g d S rp s
r s. e ft.ta.) th c d c.,In k.F. u lu.
FreInre s
a c ae
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od
Didns
iv e d
Yer in Ern gGorn g.Nt InaA. Piv. Dm Bla c,
en g a insra ins e Txs Df. Cs.. Dfice
ad
s
t. e res ie aenit.
o
.Es
—
D e c . 31 1 916............... $ 22 6 ,3 5 6 $ 6 0 ,51 7 $ 5 4 ,2 3 3 $ 9 ,0 0 0 ............. $ 2 ,7 1 6
Ju n e 30 1916............... 2 1 6 ,51 0
6 0,7 66
5 2 ,1 3 7
9 ,0 0 0
.............
371
5 9,9 25
5 2 ,1 3 9
9 ,0 0 0
$ 8 ,7 5 0
9 ,9 6 4
Ju n o 30 1 91 5 ............... 2 0 1 ,49 4
.— F o r c a l. y e a r 1917, g r o ss , $ 23 6 ,4 2 3 ; n e t, a fte r ta x es,
$ 3 9 ,6 9 1 .
R O A D .— 17.7 m iles o f tr a c k .— V . 100, p . 1168, 1833; V . 106, p . 2 011.
(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 t r 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 ,3 1 9 shares o f th e s to c k .
O R G A N I Z A T I O N .— O rganized in M a s sa ch u se tts M a r . 27 1901 A c
q u ire d C o n c o r d & C lin to n S t. R y . F e b . 1 1902. O n A u g . 25 1911 a cq u ired
L o w o ll A c t o n & M a y n a r d S t. R y . V . 9 3 , p . 1786.
p e rp e tu a l.
In Ju n e 1917 th o M a s s . P . S. C o m m . a u t h . th e c o . t o Increase Its fare
sch ed u le t o a 2-c e n t p e r m ile basis w ith a m in im u m ch a r g e o f 6c . fo r an e x
p e rim e n tal p o rio d or 6 m o s . b e gin n in g J u n e 25 1917.
STO CK A N D BONDS—
S to c k $ 23 5 ,0 0 0 ($ 1 0 0 )....................- .................................
$ 23 5 ,0 0 0 See earnings
1st m o rtg a g e $ 25 0 ,0 0 0 g o ld ] 1902
5 g J-J
2 3 0 ,0 0 0
J u ly 1922
($ 1 ,0 0 0 )
................. c & r n t f ( I n t . at A ra er. T r u s t C o . . B o s t o n . T r u s t e e .
N o te s p a y a b le D e c . 31 1 9 1 7 - - ____
__________7 0 ,0 0 0 ------------------R O A D .— O w n s 19 m iles o f tra ck b etw een C o n c o r d , M a y n a r d , A c t o n ,
S to w a n d H u d s o n . A t C o n c o r d c o n n e c ts w ith L e x . & B o s . a n d a t H u d s o n
w it h W o rce s te r C o n s o l, an d B o sto n
W o r c e s te r .
.
,
,
—
$ 2 4 ,43 4
$ 1 5 ,56 2
$ 9,4 00
d e f.$ 5 2 8
D o c . 3 1 1 9 1 6 ...............$ 8 1 ,68 3
Ju n e 30 1916................ 7 7 ,3 5 4
2 5 ,0 9 0
1 6,399
...........
8.691
Ju n e 30 1915............... 7 6 ,5 1 7
2 6 .7 5 9
1 7.3 15
9 .4 0 0
44
— C a l. y e a r 1917, g r o ss , $ 7 8 ,5 9 6 ; n o t, a fte r taxes, $ 4 ,7 6 9 .
(4) M ille r s R iv e r S t r e e t R y .
,
R ig h ts o f w a y h a v e been p a rtly se cu re d o n this c o m p a n y s p r o p o s e d line
b etw een M ille rs F alls a n d O ran ge.
Ltet Ern g
a s a ins
F nh e
ra c iss
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Ya e d g
e r nin
& t. Txs iv e d. u lu.
Nt. In Aae.Didns S rp s
e
Gos
r s.
LtetErn g.
a s a ins
N O R T H C A R O L I N A P U B L IC S E R V I C E C O . ,
u
J
O R G A N I Z A T I O N .— C h a rtered in N o r t h C a r o lin a in 1909.
P u rch ased
th o G r e e n s b o r o E le c . C o . a n d G r e e n sb o ro G a s C o ., th o e le ctric ligh t p la n t
o f th o H ig h P o in t E le c . P ow er C o . a n d th o str e o t ra ilw a y sys to m in H ig h
P o in t .
In 1913 b u ilt gas plan t a n d d is trib u tin g s y s te m in H igh P o in t .
In 1911 a cq u ire d m a jo r it y o f th o s to c k o f S alisb u ry & S p e n ce r R y . C o .,
w h ich c o m p a n y It also leases for 50 y e a rs .
V . 9 3 , p . 1324.
D o e s en tire g a s ,
e le ctric-lig h t and p o w e r a n d street ra ilw a y business o f G r e e n sb o ro (a n d 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 a n d P o m o n a ), S alisb u r y .
S p e n ce r, E ast S pen cor an d H igh P o in t an d s tr e e t ra ilw a y b u sin ess o f
C o n c o r d . In 1910
h a d th e fo llo w in g n u m b e r o f ye a rs t o ru n :
G r e e n s b o r o , 28 yo a rs; H ig h P o in t , 59 y e a rs ; S a lisb u r y , S p e n ce r, E a s t S p en
ce r a n d C o n c o r d , 60 y e a rs ; a lso has a 3 0 -y e a r
in G u ilfo r d C o u n t y
a n d t o w n s h ip .
■
.
.
.
.— Shareholders o n M a y 15 1917 v o t e d t o re d u c e th e
$ 3,3 2 2 ,9 0 0 c o m m o n s to c k t o $ 1 ,5 0 0 ,0 0 0 b y th e e x c h a n g e , p r o r a ta , o f
$ 50 0 ,0 0 0 p re f. s to c k au th o riz e d fo r th o p u rp o s e , said p r o f, s to c k t o b oar
4 % d lv . th e first y e a r, 5 % tho s e co n d y e a r a n d 6 % th e re a fte r.
H o ld ers
or e a ch 100 shares o f existin g s to c k re ce iv e d in e xch a n g e 15 shares (plus fra c
tio n ) o f n ow p r e f. a n d 45 snares (p lu s fr a c tio n ) o f c o m m o n s t o c k . A s o f
M a y 1 1918, a b o u t 9 1 % o f th o s to c k h a d b e e n e x c h a n g e d . T h is a c tio n
w ill resu lt in co n sid e ra b le sa v in g in S ta te a n d F ed era l ta x e s.
STOCK A N D BONDS—
Seo te x t
.......................
C o m m o n $ 1 ,5 0 0 ,0 0 0 ($ 1 0 0 )............................................
P referred $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )...............
See te x t
See te x t .........................
G reen sb E l C o 1st M g o ld l 1902 6 g A -O
$ 17 0 ,5 0 0 A p ril 1 1932
($ 60 0 & $ 1 .0 0 0 )............. c t f j l n t . a t E q u it . T r . C o .. N . Y . . tru stee.
G reen sb E l C o r e f & im p t l 1905 5 g A -O
3 0 ,5 0 0 J u n o
1930
M ($500 * 3 1 .0 0 0 )____ c t f / I n t . at B a n k e r s 'T r . C o ., N . Y . . tru ste e .
F ir s t& r e f.m .$ 3 ,5 0 0 ,0 0 0 (1 0 0 .) 1909 5 A -O
2 ,1 2 6 .9 0 0 A p r 1 1 9 3 4
$500 and $ 1 ,0 0 0 )- c* & r* t f l l n t . a t E q u it a b le T r u s t C o . , N . Y . , tru stee.
S allsb & S pen R y 1st M g o ld ) 1905 6 g M - N
8 3 1 ,0 0 0 M a y 1 1946
—
$ 1,0 0 0 ,0 0 0 ( $ 1 , 0 0 0 ) ._ c * t f l I n t . at M ic h . T r u s t C o . . G r a n d R a p id s .
D e c . 31 1 9 1 6 -3 5 4 8 ,3 5 9 $ 14 9 ,1 2 2
$ 11 6 ,0 2 8
$ 1 8 ,2 0 0
$ 1 4 ,39 6 $ 2 ,4 9 8
I ____
________
1 0.0 00 ___________ Ju n e 30 1 9 1 6 . 529 484
1 48,676
1 16,508
16,2 00
3 ,7 4 7 12,221r tg a g e o n c o m p a n y ’s o f f i c e )
Mo
tru steo, o r W . N . C o lo r & C o ., N o w Y o r k .
J u n e 3 0 19151 5 2 0 :6 4 4
164 :19 8
121 .18 7
1 6,2 00
3 3 ,1 3 8 d e f.6 b u i7 d i n g _____ ______ _______ IG u a r ., p . & i ., b y N o . C a r o . P u b . S e rv . C o .
.3 2 l
O F F I C E R S .— S ec. & T r e a s ., D . P . A b e r c r o m b ie J r .; G r e e n fie ld , M a s s .—
.— O f th e 1st < ror. m tg e ., $ 20 1 ,0 0 0 a ro roserv od t o retire like
fe
V . 9 7 , p . 3 65, 951; V . 100. p . 1168, 1671; V . 104, p . 1702 V . 106, p . 2 011.
a m o u n t o f m o rtg a g e b o n d s o f G r o o n sb o ro E le c . C o . a n d $ 1 ,1 0 6 ,7 0 0 a ro ro(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 e M a s s . C o n s o l.
so rvo d fo r fu tu r e lm p ts . and a cq u isitio n s u n d e r p ro p e r lim ita tio n s . V . 88 .
R y s . ow n s 4 ,9 9 6 shares o f th e c o m m o n s t o c k .
. 1128; V . 104, p . 2 34 3 . 310 ,00 0 reserved t o retire m tg e . o n c o m p a n y ’s
u ild in g in G r e e n s b o r o , $ 1 4 3 ,0 0 0 h old In tre a su ry . S u b je c t to c a l l o n a n y
O R G A N I Z A T I O N .— In co r p o ra te d In 1899. C o m m e n c e d J a n . 22 1900*
Int. d a te a t 105 a n d in t . S in k in g fu n d o f 1 % p er a n n u m o f gross in c o m o .
Is a c o n solid a tion on A p ril 1 1905 o f th e N o r t h a m p t o n & A m h e r s t S tr e e t
J u ly 1915 t o 1919; q H % J u ly 1920-1924, a n d 2 % 1925 t o m a t u r it y . T h o
R y ., th e G reen field & T u r n e r ’s Falls S tr e e t R y . a n d the G r e e n fie ld D e o r fie ld
re m a in in g $ 10 8 ,0 0 0 S alisb u ry & S p e n ce r R y . b o n d s aro re se rv e d fo r fu tu r e
N o r th a m p to n S treet R y . . as p er plan In V . 8 0 , p . 1111.
e xte n sio n s an d iin p ts. $ 6 1 ,00 0 a ro h eld in tre a su ry . A r e g g u a r ., p . & i .,
In M a y 1915 th o G o v e r n o r o f M a s s , sign ed a b ill a u th o riz in g th e N o rth e rn
b y th e N o r t h C a r o lin a P u b lic S e rv ice C o .
R e d e e m a b le a t 105 a n d in t.
M a s s . S t. R y . to a b s o rb th e c o m p a n y b y c o n s o lid a tio n o r p u rch a se .
o n 6 m o n th s ’ n o tic o .
E A R N I N G S .— F o r fis c a l yea r e n d in g M a r . 31 1917, gr o ss , $ 58 0 ,4 9 1 ; n e t.
V I i ? M a y 1918* th e c o . a n n o u n ce d Its in te n tio n o f a b a n d o n in g Its lin o b e
a fte r ta x o s, $ 24 1 ,3 8 2 ; I n t., $ 1 5 9 ,5 0 7 : s u rp lu s , $ 8 1 ,8 7 5 .
In 1915-16 gr o ss ,
tw een T u rn ers F a lls, M ille rs F alls a n d M o n ta g u e o n J u ly 1 1918.
,
$ 5 1 3 ,3 9 1 ; n e t, $ 22 7 ,9 3 8 ; in t.
tax e s. $ 16 2 ,9 0 3 ; su rp lu s, $ 6 5 ,0 3 5 . G ross
STO CK A N D BONDS—
earnings fo r y e a r e n d . D e c . 31 1917, $ 62 5 ,3 5 1 , aga in st $558 ,7 9 7 in 1916.
S to c k , c o m , $ 5 0 0 ,0 0 0 ($ 1 0 0 )........................... - - - - - . 10 j %
R O A D .— O w ns 27.41 m iles o f tr a c k . 60 a n d 7 0 -lb . T a n d 9 0 -lb . g ird er
P rof,$ 1 2 0 ,0 0 0 (6 % cu m ) ( $ 1 0 0 ) ------M -S -O J
120,0001 See t e x t ,
ra ils. S ta n d a rd g a u g e . 39 ca rs, 15 now “ S a fe ty O n o M a n ” ca rs w ere
C o n n e c tic u t V alley S t R y 1 s t / 1900
5 g M -S
1 20,000 S e p t . 1 1920
in sta lled in 1917. C o n n e c tin g exte n sio n s b e tw e e n th o v a rio u s cities
m o rt g old ( $ l,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 .
aro p r o p o s e d .
E le c tr ic p lan ts c a p a c ity 2 ,8 0 0 h o rse p o w e r (a lso p u rch ases
N o rth a m & A m h 1st m t g e .f 1900
5 g M -S
1 80.000 S e p t. 1 1920
p o w e r fr o m S o u th e rn P o w e r C o . u n d e r fa v o r a b le c o n t r a c t ); 166 m iles trans
$180 ,0 0 0 g ( $ l , 0 0 0 ) ..c ..n t f \ 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 t .
m ission lin es.
G a s p lan ts c a p a c ity 8 2 0 ,0 0 0 c u . f t . p or d a y . 68 m iles o f
G reen field D eer field & N o r th f 1903
5 g J-J
1 50,000 J u ly 1 1 9 2 3
m ain s; e le c t r ic lig h t c u sto m e rs, 4 ,9 2 9 ; p o w e r , 3 02; g a s , 3 ,5 1 4 ; t o t a l, 8 ,7 4 5 .
first m o r t , $ 1 5 0 ,0 0 0 , g o l d /I n t . a t M e r ca n tile T r u s t C o . , B o s t o n , T r u s t .
S I .000
and $ 5 0 0 )— c * _ n t f ( N o s in k in g fu n d a n d b o n d s c a n n o t be ca lle d O F F I C E R S .— P ro s ., C . B . IIo lo ; V .- P ., W e s c o tt R o b e r s o n ; S e c. & T r e a s ..
L . H . H o le J r .; G o n . M g r ., R . J . H o le .— V . 104, p . 2 343; V . 105, p . 1105.
G r e e n & T u r n F a lIs c o n s m $ 1 3 0 ,-/1 9 0 3
5 g J -D
130,000 Ju n e 1 1923
0 0 0 g ($ 5 0 0 . $ 1 ,0 0 0 ) c * . n t f lln te r e e t at B e a c o n T r u s t C o ., B o s t o n . T r u s .
N o te s p a y a b le D e c . 31 1 91 7 — ------------------3 0 0 ,0 0 0 — _ ----------GULFPORT, MISS.
— T h e N o r th a m p to n & A m h e rst b o n d s are s u b je c t t o ca ll at 105
G U L F P O R T & M IS S IS S IP P I C O A S T T R A C T IO N C O .
on 4 w eek s’ n o t ic e , as are th e b o n d s o f th e C o n n e c tic u t V alloy S tr e e t R y .
O R G A N I Z A T I O N .— I n co r p o ra te d in M is siss ip p i in 1 905. P u rch a sed
T h e $ 12 0 ,0 0 0 C o n n e c tic u t V alley b o n d s w ere issued u n d er the first m tg e . o f
th e B ilo x i E le c tr ic R y . & P o w e r C o . an d th e G u lfp o r t D e v e lo p m e n t C o .
th e N o rth a ra p . & A m h . S t. R y . . w h ic h w as o r ig in a lly draw n fo r $ 3 0 0 ,0 0 0 .
In ' 1907 Increased a u th . s to c k fro m $ 1 ,0 0 0 ,0 0 0 t o $ 2 ,0 0 0 ,0 0 0 .
— O n p r e f., 3 % s e m i-a n n . sin ce S e p t. 1910 t o a n d in cl. M a r c h
.— B ecause o f th e refu sal t o re c o g n iz e a un iou o f its e m p lo y e e s ,
1918 (p a id M a y 1 1 9 1 8 ). O n c o m ., in 1906 (y e a r e n d . S e p t . 3 0 ), 2 % ; in
c o m p a n y su ffe re d fro m a strike in D e c . 1917.
1907, 2 % ; in 1912, 1 % ; in 1913, 2 ^ % ; in 1914, 3 % . I n 1915, F e b ., 5 4 % ;
STOCK A N D BONDS—
M a y , 5 4 % ; A u g ..
In D e c . 1916. 1 % .
S to c k $ 2 ,0 0 0 ,0 0 0 ($ 1 0 0 )................
- ......................
$ 1 ,0 0 0 ,0 0 0 .........................
E A R N I N G S .— F o r ca le n d a r y e a r 1916 a n d ye a rs en d in g J u n o 30:
1st m o r t $ 1,0 0 0 ,0 0 0
g o l d ] 1905 6 g A -O
1 ,0 0 0,00 0 S e p t 30 1935
—
( $ 1 , 0 0 0 ) _________________ t f l l n t . a t H ib e r n ia B k . & T r . C o . , N . O r l., T ru s
1 916.......................$ 24 0 ,3 2 0
$ 64,171
$ 4 6 ,23 3
$ 7 ,2 0 0
$ 4,9 96
$ 5 ,7 4 2
2d M g o ld ($ 1 .0 0 0 )_______c t f ) 1907 6 g J-J
6 9 2 .0 0 0 J u ly 1 1932
1 9 1 5 -1 6 ............... 2 3 5 ,61 9
6 2 ,8 2 0
4 7 ,9 7 2
7 ,2 0 0
3 ,7 4 7
3,901
1 H ibern ia B a n k & T r u s t C o ., T r u s t e e .
1 9 1 4 -1 5 ________ 2 4 2 ,63 3
7 7 ,5 1 5
5 1,7 33
• 7 ,2 0 0
1 4,988
3 ,5 9 4
O il. E l. R y . & P . 1st m t g e ., g . f 1903 0 g J-J
1 49,400 Jan 1 1 9 2 4
— F o r c a l. y e a r 1917, g r o ss , S 25 2 .5 6 9; n e t. a fte r ta x e s,
($ 1 0 0 , $ 500
$ 1 ,0 0 0 )___ t f l l n t . a t H ib e r n ia B k .& T r . C o . , N e w O rlea n s
$ 49 3 91.
In te re s t c o u p o n d e b e n t u r e s .- ) ____
6 A -O
130 ,20 0 A p ril 1 1927
R O A D .— O w n s a n d op era te s 4 7.0 54 nilles o f tra ck b e tw o o n M ille r ’s F a lls
l I n t . a t F irst N a t . B a n k , G u lfp o r t.
T u r m e r ’s F a lls , G r e e n fie ld , N o r t h a m p t o n a n d A m h e rs t. 41 p assen ger
.— 'T h e b o n d s o f 1905 are s u b je c t t o ca ll o n O c t. 1 In a n y y e a r at
c a r s . 2 s n o w -p lo w s , 5 o th e r ca rs a n d 134 e le ctric m o to r s .
105; n o sin k in g fu n d . In te re st o n 2d m o r t . Is p a y a b le a t F irs t N a t . B a n k .
O F F I C E R S .— P res ., O . W . H a z o lto n ; V .- P . & G o n . M g r .. D . P . A b e r
G u lfp o r t. B o n d s h a v e n o s . f. a n d aro n o t s u b /o c t t o c a ll. T h o B ilox i
c r o m b ie J r .; T r e a s ., I I . A . C ra n e ; S u p t., J . A . T a g g a r t.— V . 9 6 , p . 1296:
E le c tr ic R a ilw a y & P o w e r b o n d s a re s u b je c t t o call a t 106 a n d in to ro s t.
V . 9 7 , p . 298; V . 9 8 . p . 1392; V . 100, p . 1167; V . 106, p . 2 010.
E A R N I N G S .— F o r y e a r on d in g J u n o 30 1917, g r o ss , $ 2 6 9 ,7 3 6 ; n e t,
$ 1 0 4 ,2 6 7 . In 1 915-16, g r o ss . $ 2 2 6 ,9 0 5 ; n e t, $ 6 3 , 3 1 5 . ...............................
(2) N o r t h e r n M a s s a c h u s e t t s S t r e e t R y .— T h o M a s sa ch u se tts C o n s o l.
R O A D .— O perates 13 m iles o f tra ck fro m G u lfp o r t t o B ilo x i and 11 m iles
R y s . ow n s all th o c o m m o n s to c k ($ 3 5 0 ,0 0 0 ).
fro m G u lfp o r t to Pass C h ristia n : a lso 6 m iles o f tra ck in B ilox i; to ta l, 3 0 m .
O R G A N I Z A T I O N .— In c o r p . in M a s s , o n J u ly 1 1894 as th e A th o l &
O F F I C E R S .— P re s ., W . T . S tew art: V .- P ., J o s . V a n C lo o s te r ; S e c ., J . O .
O ran ge S treet R y . N a ra o ch a n g e d t o a b o v e o n M a y 1 1913. In J a n . 1913
S im p so n ; T r e a s ., P . A . S tllw ell; G e n . M g r ., W . F . G o r o n flo , all o f G u lfp o r t.
p u rch a sed th o p r o p e r ty and fra n ch ises o f th o T e m p le t o n S treot R y . a n d on
M a r . 1 1913 a b s o rb e d th e G a rd n e r W e stm in ste r & F itch b u rg S treet R y .
— V . 8 3 , p . 95; V . 105, p . 2 90.
M A S S A C H U S E T T S C O N S O L ID A T E D R A IL W A Y S .
O R G A N I Z A T I O N .— O rgan ized In B o s to n o n N o v . 18 1911 a sthe M a s s a
ch u setts N orth ern R y s . In M a y 1913 n am e w as ch an ged t o th e M a ssa u
ch u setts 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 s tees. V . 9 3 . p . 1 482. 1 59 9 . 1 78 7 . C o n tr o ls th ro u g h
s to c k ow n ersh ip the fo llo w in g co m p a n ie s:
C o n c o r d M a y n a r d & H u d s o n S t. R y . M 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 alley S treet U y .
1N o rth e rn M a s sa ch u se tts S tre e t R y .
T h e system com p rises 114 m iles o f r o a d , se rv in g 20 cities an d to w n s In
C en tra l a n d N orth ern M a s sa ch u se tts. B o th p assenger and express s e r v ic e
are p r o v id e d .
R ig h ts o f w a y h a ve been p a r t ly secu red o n the p ro p o s e d lin o
fr o m O ran ge to M ille rs F a lls .
_
__
C o m m o n $ 1 ,6 4 0 ,3 0 0 ( $ 1 0 0 )............... - - - - - ..................$ 1 ,6 1 9 ,9 0 0
See t e x t .
P r e f $ 1 ,1 0 0 ,0 0 0 ($ 100) c u m (see te x t) Q -F --------------7 0 4 .6 0 0
See t e x t .
S T O C K .— A d d itio n a l prer. shares o n ly t o b e Issued w h en n e t ea rn in gs fo r
12 m o s . en d in g n o t m oro th an 180 d a y s p rio r t o d a te o f issue shall h a v e b e e t
i u tim es a m o u n t n ecessary t o p a y d lv . o n shares o u t a n d a p p lie d fe r .
D I v s . on p re f. are 5 % t o N o v . 1 1914. in c l.;
t o N o v . 1 1 9 1 7 ., In cL ,
a n d 6 % th erea fter. In case o f liq u id a tio n p re f. is en title d t o $ 110 p er share
u p t o N o v . 1 1914. $ 115 t o N o v . 1 1917 a n d $ 12 0 th e r e a fte r . V . 9 3 . p . 1 5 9 9 .
.— O n p r e f., 1912 t o 1914. 6 % p er a n n u m . In 1915 an d 1 91 6 .
F e b . 1917 d l v . p a ss e d . O n c o m m o n a d l v . o f H % w as p a id
O c t . 15 1913.
E A R N I N G S .—
—
( 5 > 4 % ).
D e c . 31 1916
$ 2 0 ,43 9 $ 1 3 ,96 3 $ 6,4 76 $38 ,76 3
$ 3 2 ,2 7 7
7 .2 1 6
l l ,9 7 9 d e f 4 ,7 6 3
3 8,7 53
4 3 ,6 1 6
J u n e 30 1 9 1 6 1 - - ....................
Ju n e 30 19151.............................. 3 7 ,3 9 6
1 2,2 18 2 5 .1 7 8
3 6,991
11,813
Sae
hrs
Ots nin. Ls D .
u tad g at ie
fra c iss
nh e
fra c is
nh e
Cags inS c
hne tok
5%
H
v% ns
Did
5Uiv e d
.
Ya e d g
e r nin
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Gos ex . ce . re lv Dfice
a nit
Inrm, pEss InoteP f.D . Blac
c se n- N
o
e
m
e
in
id ry f.D .
Ya e d g Cmse Erneg o S bTiasCmaieo D . S rp s
e r nin orbsd aNt.s Inus ae.P pnCm ie u lu.
Go . in f t.A x o iv s
Bns
od
§
&
&
Dte In ret. Ots0nin.DMtu .
a . te s u5 0d 0 e a rity
9ta.0 g c
0
Bns
od.
Didns
iv e d.
Ya
er
%.
%
Gos Nt. In Aae. P f.D .Cr .D. S rp s
r s.
e t. Txs re ie on ie u lu.
S e
trik
Ltet Ern g.
a s a ins
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
&
Bns
od
M , 1918.]
at
ELECTRIC RAILW AYS
51
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
General mtge $4,000,000 gold/ 1901
5 g M-S
$14,000 Mar 11941
($1,000 each)________ c*l Int. at Alex. Brown Sc Sons, Baltimore, Md.,
( or at company s agency in N e w York.
O R G A N I Z A T I O N . — Incorp. Apr. 7 1913 In Maryland as a consolida
5 g M-N
69,000 M a y 1 1940
tion of the Frederick RB., Frederick Gas & El. Co.. Myersvlllo Sc Catoc- First mtge Citizens’R y L & Pf 1900
$800,000 ($1,000) goId__c*( Maryland Trust Co., Baltimore, Trustee.
tln lty., Hagorstown Ry., Hagerstown & Boonsboro RR., Hagerstown &
Guaranteed prin Sc int___ (Interest at Alex. Brown Sc Sons, Baltimore.
Myersvlllo RR., Hagerstown & Northern RR. and Frederick & Hagerstown
44$ J-J
68.000 Jan 1 1930
Power Co. V. 96, p. 917, 1422. In 1914 purchased properties of the Frost- Hampton Roads Trac 1st M._ 1905
burg Ilium. Sc Mfg. Co. In 1916 acquired control of the Potomac Lt. Sc
Bonds,— Of the f r t and ref. bonds, $1,081,000 are reserved for prior lient
is
Pow. Co., Martlnsburg, W . Va. (V. 104, p. 163.) F r a n c h is e s are per as above,$3,000 are In treasury and the remaining $2,682,000 are for lmpts.
petual or extend at least 15 years beyond l f of bonds.
ie
A exts. Bonds sub], to call at 105 & lnt. on any lnt. day upon one month’
s
s
On Nov. 30 1917 acquired control of the Chambersburg Greencastle & notice. Int. payable at Alexander Brown & Sons, Baltimore, or company's
Waynesboro Street Ry. Co., which see below, and issued $300,000 collateral agency In N. Y. The Maryland Tr. Co., Balt., i trustee of both the f
s
irst
trust 5 % gold notes in connection therewith. V. 105, p. 2365.
and general mortgages of the Newport News & Old Point Railway Sc
On M a y 7 1917 the shareholders unanimously approved the plan pre Electric. The Newport News & Ola Point bonds of 1898 are subject to
sented by the voting trustees providing ( ) for the retirement of the then call at 110 on any Interest day at 60 days notice. Tho Citizens’ Railway
a
existing $1,225,000 5 % convertible adjustment bonds, $635,000 7 % cum. Light & Power Co. bonds are subject to call at 110 on any Interest day on
pref. stock and $2,000,000 com. stock; ( ) Issuance in lieu thereof of $600,000 60 days’ notice. Remaining Newport News & Old Point Ry. & El. gen.
6
10-year 6 % notes, $842,500 6 % cum. pref. and $1,512,950 new com. stock. M . 5s, Citizens’ Ry. L. Sc P. 1st M. 5s and Hampton Roads Trac. 1st M.
The voting trust, Frank A. Furst, Henry Holzapel and William H. McCar- 4 H s are deposited under the Newport News & Hampton Ry.. Gas Sc Elec.
dcll, trustees, was to be dissolved. This plan was consummated on M a y 9 1st & r f M.
e.
1917. Early in 1918 issued $228,000 1st & Ref. M . bonds which have been
D iv i d e n d s . — Divs. have been paid regularly on pref. stock. A dlv. of
pledged for construction purposes.
3 % on the common stock was paid July 1 1916; in 1917, May, 5%.
M a tu r ity .
O u ts ta n d in g .
STOCK A N D BONDS—
D a te .
I n terest.
E A R N I N G S . — For year ending Dec. 31:
$1,512,950 ....
C a le n d a r
G ro ss
N etfa fte r
O th er
In terest,
B a la n c e ,
C o m m o n $2,000,000 ($50)......-..........
842,500 ---Y ear—
E a r n in g s .
T a x es).
In com e.
R e n ts . A c .
S u r p lu s .
Preferred 6 % cumulative($50)-------1,452,000 Apr 1 1944 1917 ..... $1,357,308
6 g A-O
1st & ref M$10,000,000 ($1004 1914
$540,284
$2,917
$255,918
*$287,284
$500 & $1,000) g s f.c.cpt/Fidelity Tr.Co.,Balt.,Tr. Int.pay.in Balt. 1916 ------ 1.013,712
419,650
3.273
234,491
*188.432
Hager & Myers R y $125,000.. 1904
5%
120.000 July 11924
L a te s t E a r n in g s . — For 3 months ending Mar. 31:
Hagers & Boonsb Ry 1st M J 1902
6 F-A
110,000 Feb 1 1922 1918 ----- $408,876
$115,814
$1,753
$60,918
$56,649
$120,000 (S500& $l,000)c*(lnt. at Maryland S. & Tr. Co., Hagerstown. 1917 ......
256,033
86.826
530
61,858
25,498
Hagers & Nor R R 1st mtgof 1908
5 g F-A
200,000 Mar 1 1927
* From tho surplus as above in 1917 and 1916 there was deducted $106,619
$200,000 gold ($1,000, $500(Int. at Maryland 8. Sc Tr. Co., Hagerstown. and $71,209, respectively, for depreciation, leaving $180,665 in 1917
and $100)....... ... c*l Trustee, W m . Jennings.
against $117,224 in 1916.
Meyersv & Catoc 1st M _____ 1904
5%_
-35,000 July 11929
PR
miles of track. Power
5 g J-J
126i00d Dec 1 1936 with O P E R T Y . — Owns and operates 48.59 electric-lighting system. plant,
Fred Sc Middletown 1st mtge 1905
10,300 k. w. capacity; 2 gas plants;
$250,000 gold ($1,000)__ c Fidelity Trust Co., Baltimore, Trustee.
OFFICERS.— Pros., J. N. Shannahan; Vice-Pres. & Gen. Mgr., E. F.
5 J-J
179,000 July 1 1929
Fred Gas Sc Klee 1st M $200, 1904
l
000 g ($500&$ 1.000) g.P & l Interest at West End Trust Co.. Philadel Pock: Treas., W m . Stewart: Sec., Richard M. Booker, a l of Hampton.—
V. 105, p. 716, 812, 998, 2272; V. 106, p. 602, 1231, 2117.
phia, Trustee.
by Fred RR; not sub to ca l
l
5%
30,000
1925
Monocacy Valley Ry f r t 1908
is
mortgage_____________ Steiner Schley Sc Leonard Waesche of Fred
erick, Md., Trustees.
HANOVER, PA.
Frostburg 1 1 Sc Mfg 1st M l 1899
1
5 J-J
60.000 July 1 1929
H A N O V E R & M c S H E R R Y S T O W N S TREET R A I L W A Y CO.
30-year bonds_________ \Int. at First Nat. Bank. Frostburg, Md.
In Nov. 1916 control
Collateral gold notes $300,000c 1917
5 M-S
300,000 Sept 1 1932 see under Scranton, Pa. was acauired by the Keystone Utilities Co., which
Operated by United Service Co.
l^otes.. .............
1917
6%
600,000
1927
O R G A N I Z A T I O N . — Incorp. In Penna. in 1892. Its charter runs for
S to c k . — The prof, stock I redeemable at par and dividends.
s
999 years. Owns a l the ($100,000) stock of the Hanover Light Heat &
l
B o n d s . — Or the new $10,000,000 mtge., $850,000 are reserved to retire
Power Co.
prior lions and $7,698,000 rosorved for addns., lmpts., &c., under certain
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
restrictions (V. 98. p. 1694; V. 104, p. 163). Reserved bonds when Issued to
$135,000 Dec.’
17. 9 %
bear Int. at rate or rates not exceeding 6 % or less than 4%. S in k in g f u n d Stock $200,000 ($50)____ _____ ___________
5 g J-D
400,000 June 1 1928
boginning Oct. 1 1919, payable semi-ann.; t l Oct. 1 1926, 1 % of 1st Sc r f
il
e . First mtg $500,000 g ($1,000)1 1908
subject to c l at 105._c*tf/Interest at York Trust Co., York, Pa., Trus.
al
6s and prior liens; 1927-1934. 2%; 1935-1944, 3%. Red. at 105 and lnt.
B o n d s . Of remaining bonds $100,000 are reserved for extensions, S ec.
—
on any lnt. date. Tax refund In Pa. The Hagerstown Sc Boonesboro Ry.
D iv i d e n d s . In July 1894. 2 H % ; in 1895, Jan., 2 >4; 1897-1902 records
—
bds. are red. at par. Hagers. Sc Nor. RR. bds. are subj. to call aft. 1917.
lost. 1903 and 1904 none. In 1905, Jan., 6%. In 1906 and 1907, none;
Fred. Sc MIdd. bonds are red. at 105 on any lnt. date. Fred. Gas Sc El.
Jan. 1908 to Jan. 1913. I c . 6 % per annum. In July 1913 5 0 % stock
nl.
bonds are guar., p. & 1 . by Frederick RR.
.
div. paid; Jan. 1914 (reg.), 4%; July, 2%. In 1915, Jan., 3%. In Dec.
E A R N I N G S . — For years ending Dec. 31:
1917, 9%.
Y ear—
G ross.
N et.
D e d u c ti o n s .
S u r p lu s .
E A R N I N G S . — For calendar years:
1917___________________$604,711
$246,688
$184,766
$61,922
Y e a r s e n d in g —
G ross.
N e t,a ft.T a x . B on d I n t .,& c .
B a la n c e .
1916_____________
530,505
224,556
165,819
58,737
$41,407
$20,399
sur.$21,008
Dec. 31 1917.-.... ... $122,890
1916 .......
442,958
186,438
132,581
63.857
Dec. 31 1916_________
46,242
20,293
20,603
def.
310
R O A D . — Operates street railways in cities of nagerstown and Frederick,
R O A D . — Owns 11.6 miles of track In and between Hanover. McSherrysM d . ,and an Intorurban railway extending from Frederick to Hagerstown,
with extensions from Frederick to Thurmont, Md., also from Hagerstown to town, Littlestown and Oonewago Chapel. Standard gauge. 65-lb. T and
al.
Shady Grove, Pa., and with branch lines to Boonsboro and to Jefferson, Md. girder r i s
Mileage operated aggregates 91.5 miles. The controlled Chambersburg
OFFICERS.— Pres., J. E. Welssenfluh: V. P., W. C. Sharp; Sec. &
Greencastle & Waynesboro Street Ry. operates 31 miles of track from Blue Treas., F. B. Atherton.— V. 100, p. 1257; V. 103. p. 2340.
Ridge Summit to Chambersburg. The extension from Chambersburg to
Red Bridge Park was leased to the Chambersburg & Shippenburg Ry. of
Chambersburv. Pa.
_ ,.
„ . ,.
HARRISBURG, PA.
OFFICERS.— Pros., Emory L. Coblentz, Frederick, Md.; V.-Pres.,
HARRISBURG RAILW AYS.
Henry Holzapfel, Hagerstown; Sec.. M . P. Mollor, Hagerstown; Treas..
ORGANIZATION.— Incorp. In Penn, on Nov. 29 1912 and merged
Thomas H. llaller, Frederick; Gen. Mgr., M. A. Pooler.— V. 102, p. 1346.
the Central Pennsylvania Traction Co. (see “ Electric Railway" Section of
1811; V. 104, p. 163, 1863, 2010; V. 105. p. 389, 909, 2365.
Sept. 1912) and its subsidiaries. V. 96. p. 202.
(a) Chambersburg dreencastle & Waynesboro Street Ry — On
S tr ik e . — On July 16 1916 the company's men went out on strike and
Nov. 30 1917 the Hagerstown & Frederick Ry. acquired control.
(derations were hampered for about four weeks, but early in Sept. 1916,
O R G A N I Z A T I O N . — Incorporated In Pennsylvania on June 17 1901; also Pres. Musser reported that service and receipts were back to normal.
owns a turnpike road, 43 miles, capital, $100,000. and an electric-light
STOCK AND BONDS— D a t e .
In terest.
O u ts ta n d in g .
M a tu r ity .
plant, capital, $30,000.
Common $3.000,000-.........................
.............
$3,000,000 ______
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a t u r it y
Pref 6% cum $2,100,000_________
See text
2,100,000 O ct’17, 1%
C o m m o n $300,000_______ - ---- ------$300,000 _________
First & ref. mtge $10,000,0001 1912 5 J-D
3,169,900
1942
Preferred $300,000 non-cum..
------300,000 .........
($1,000 and $500)------- tf/Harrisburg Trust C o., Trustee.
First mortgago $300,000 gold/ 1903 5 g J-J
300,000 July1 1933
I 1894 6 g M -N
75,000 M ay 1 1924
($100 and $500)_____ c*tf Interest at Chambersburg Trust Co., Trtutee Citizens’ Passenger first mtge/Int. at Com’w'th Guar. T r. C o.. Harrisburg.
$75,000 g o ld ____________
Second mortgago $300,000 1907 5 g A-O
299,500 Oct 1 1937
ST&OK.— Pref. stock was cum. at 5% until Jan. 1 1915; since, 6% .
($100 and $500) gold-_o*tf Int. at Chambersburg Trust Co., Trustee.
D iv id e n d s . — 3 H % was Dald on pref. stock in 1913.
In 1914, 6% . In
1st ref mtge $1,000,000 ($100 1910 6 A-O
193.900 Apr 1 1940
1915, April, 2 M % ; Oct., 1% . In 1916, April. 1 H % . In 1917, April ,1 % % ■
and $500)... ........ t f Int. at Chambersburg Trust Co., Trusteo.
Oct., 1% . None since.
B o n d s . — First mtge. bonds nave no sink. fd. and are not subi. to c l .
al
2d mtge. bonds are subj. to call on any lnt. period at 105. N o sink. fund.
REPO RT.— For fiscal years ending June 30:
Remaining 1st rer. bonds are reserved to take up underlying bonds and for
F isca l
T o ta l
N et
R e n ta l s ,T a x .,I n t ., B a l . ,S u r .
extensions and Improvements.
Y ear—
E a r n in g s .
E a r n in g s . D iv s .& B e tt 'm t s . o r D e f i c i t .
E A R N I N G S . — Years ondlng Dec. 31:
1 916- 17...................... $1,047,872
$497,870
$518,846
def.$20,976
y ear—
G ro s s .
N et.
C h a rg es.
S u r p lu s .
1915-16.......................... 1,021,907
610,639
531,754
sur. 78,885
1917
_______ $190,630
$90,458
855,794
$34,664 1914-15--------973.622
548,615
582,245
def. 33 630
mo:::::::::::......... 13 0 , 2,,
38
79.568
I jATE ST EARNINGS.— For 12 months ending Doc. 31:
45,067
34.501
R O A D . — See Hagerstown & Frederick Ry. above.
Y ear—
G ro s s .
N et.
I n t . , T a x . , A c . B a la n c e .
OFFICERS.— Pres., Emery L. Coblentz; V.-P., W. L. Minick; Sec
1917- . .........- ................... $1,191,099
$581,684
$489,285
$92,399
D. N. llonedlct; Treas., J. P. Shank; Asst. Treas. & Div. Mgr., R. D 1916........... ......... ......... .. 1,033,802
569,264
521,491
47,773
Sefton; Gen. Mgr., M . A. Pooler; Gen. Aud., R. E. Town. V. 90, p.
ROAD.— Owns and operates 73-61 miles of line.
OFFICERS.— Pres. & Gen. M gr., F. B. Musser, Harrisburg; V .-P .,
236; V. 92, p. 186; V. 105, p. 388.
B. F. Myers; Sec., JohnO Connell. Office, narrisburg.— V. 95. d . 1745:
V. 96, p. 209; V. 98. p. 155; V. 101, p. 1013, 1272; V. 104. p. 1591.
HAGERSTOWN, MD.
T H E H A O E R S T O W N & F R E D E R IC K R Y . C O .
HAMPTON, VA.
VALLEY RAILW AYS.
NEWPORT NEWS & HAMPTON R Y ., OAS & ELECTRIC CO.
ORGANIZATION.— Incorporated In Pennsylvania In July 1912 and In
Allen Sc Peck, Inc., of Syracuse, acquired control of the common stock
n Juno 1916 at $30 por share. About 10,500 shares of the common stock Sept. 1912, after Increasing its stock from $10,000 to $2,500,000 (of which
have been placed in a voting trust for 5 years (to 1921). Voting trustees $500,000 Is 6% cum. prof J , purchased control of the Valley Traction C o.,
are: Moreau Delano, N e w York; B. Howell Griswold Jr., Baltimore, and which In turn controlled the Harrisburg & Mechanlcsburg Elec. R y.. White
Hill Sc Mechanlcsburg Pass. R y., Carlisle Sc Mechanlcsburg St. R y .. West
O. Loomis Allen, Syracuse.
Marysville Elec. St. Rys.,
O R G A N I Z A T I O N . — This company was organized in 1914 as the consoli Falrviow & Riverton R y. and the United Harrisburg & Riverton St. R y..
Electric Co.
dation of the Newp. News & Old Pt. Ry. Sc Elec. Co., Citizens’ Ry. Light Fairvlew &AND BONDS—
STOCK
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Sc Power Co., Hampton Roads Traction Co., Newport Nows Gas Co. and
Common $2,000,001) ($100).............
............
$2,000,000 ...................
the Hampton Phoebus Sc Fort Monroe Oas Corporation and provides rail Pref cum $600,000 ($100)..............
6%
500,000 ....................
way. gas and electric light and power f c l t e for the Virginia Peninsula.
aiiis
Collateral trust $1.700,000..tf 1912 5%
1.000,000 Aug 3 1952
F r a n c h is e s . — For olectrlc light and power, perpotual; for street railways,
Trac
M $700,000/
6 g A-O
1933
practically none expires before 1944. Gas franchises In Newport Nows are Valley ($100 1st$500) -_ c*n tf/In1903 Farmers’ Tr. Co.,700.000 Oct 1 Trus.
gold
&
t. at
Carlisle. Pa.,
perpetual, subject to right of purchase of property by city (for 6 months In
B o n d s . — Remaining coll, trust bonds ($700,000) are reserved to retire
1927): In Hampton, gas franchise expires in 1936. Interurban lines largely prior lions. Valley Traction bonds are subject to call at 110. A s in k in g
on private right of way.
____
The Hampton Sc Langley Flold Ry. was Incorp. in Virginia In Feb. 1917 f u n d of $5,000 per annum commenced Oct. 1 1908.
EARNINGS.— For year ending Dec. 31 1917, gross, $329,809; net,
with $25,000 capital (increased in Oct. 1917 to $100,000, to build a line
3.1 miles long between the points named. The lino will bo built and opera $153,615. In 1916, gross, $303,460; net, $148,389.
ted under traffic agreement by the Newport News & Hampton Ry., Gas &
ROAD.— Operates 44 miles o f road from Harrisburg to Marysville and
Electric Co.
to Carlisle.
In August 1917 tho authorized capital stock was increased from $1,125,
OFFICERS.— Pres. Sc
Bishop, Lemoyne, Pa.;
000 common and $1,250,000 6 % cum. pref. stock to $2 ,
000,000 common Treas., O. M . Davidson. Gen. M gr., O. H. Lemoyne.— V. 96. p. 64 ec. &
General offices,
and $2 000,000 7 % cum. pref. stock. In Dec. 1917 the 81,000.000 6 %
pref. stock outstanding was exchanged for $850,000 7 % pref. and $150,000
com. stock. Tho pref. stockholders havo agreed to take $250,000 addi
HAVERHILL, MASS.
tional prof, stock at par, to be Issued for construction requirements, $6,900
NEW HAMPSHIRE ELECTRIC RYS.
of this stock had been Issued to Dec. 8 1917. V. 105, p. 2272.
ORGANIZATION.— A voluntary association succeeding the New Hamp
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
shire Traction Co. on Aug. 24 1905. Owns all the stock of the following
$1,275,000 M a y ’ 5 %
17
C o m m o n $2,000,000.-...................
companies: In New Hampshire. D ov.. Somersworth & Rochester St. Ity.
Preferred $2,000,000 7 % c u m . ___
______
850,900 See text.
C o.; Rockingham County Light Sc Power Co.; Newmarket Electric Co.
1st * ref M $7,600,000 g($100l 1914
5 g J-J
3.734.000 Jan 1 1944 (V. 103, p. 499); Granite State Land Co.; in Maine, ICittery Electric Light
$600 Sc $1,000).....c*.tf/Maryland Trust Co. of Baltimore. Trustee. C o.; In Mass., Mass. Northeastern St. Ry. C o. Also owns all the bonds of
N e w p o r t N e w s A O ld F t . R y .
F I.
—
the Dover Somersworth Sc Rochester St. Ry. (except $74,000), of the
First mortgage $900,000 gold/ 1898
5 g M-N
900,000 N o v 1 1938 Amesury Sc Hampton St. R y. (except $47,000) and or the Citizens' Elec.
($1,000 each).......c* tf llnterest at Alex. Brown & Sons, Balt., Md.
St R y. (except $230,000).
52
[Vol. 106
ELECTRIC RAILWAYS
STOCK—
D a te .
In te re s t.
O u ts ta n d in g .
L a st D i e C o m m o n 54.000.000 (*100)__ ____
......
*3.900,200 ........
Pref 4 %n-c. *4.000.000(8100)___
J-J
3.399.500 July ‘
17.1 %
D I V I D E N D S . — Company paid 1 % each 0 mos. on pref. from July 1908
to and lncl. Jan. 1910.; July 1910 to Jan. 1912. 1 H % s
.-a.: July 1912 t*
July 1915, 2 % s.-a. In July 1916, 2%. In 1917, 3%. None slnco.
OFFICERS.— Pres., D. A. Belden. Haverhill: V.-P., M . N. Buckner.
N e w York: Sec. and Treas., F. J. Horne. N e w York.— V. 103, p. 493.
(2 ) Wilkes-Barre & Hazleton Ry.— A trolley.
steam and third-rail road
O R G A N I Z A T I O N . — Chartered Dec. 13 1899 under General Railroad
Law Act of April 4 1868, State of Pennsylvania. The Wilkes-Barre A
Hazleton R R . owns the entire stock and bonds.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock *1.500,000 f l paid-.-..............
ul
$1,500,000 ____ ____
First mortgage *1.500.0001 1901
5 g M-N
1.500.000 M a y 1 1951
gold------------- ---- (Interest at Guaranty Trust Co.. N. Y., Trus..
Eoulp trust ctfs, Series A ___1915
F-A
60,000
1925
The equipment trust certificates cover 10 now steel cars and mature
*4,000 soml-ann. Penna. Co. for Ins. on Lives A Granting Annuities,
Phlla., Pa., I trustee.
s
R O A D . — Owns 27 miles of road from Hazleton to Wilkes-Barre, and uses
for terminals 1 mile Lehigh Traction Co. track at Hazleton and 3 miles
Wilkes-Barre Terminal RR. Co. track at Wilkes-Barre; total. 31 miles.
Entire road placed in operation M a y 1 1903. Ralls, 95 lbs.
OFFICERS.— Pros.. Alvan Markle: V.-P.and Gon. Mgr., O. B. Houck:
Bee. and Treas., N. O. Yost.
(a) Wilkes-Barre Terminal RR.
Entire stock and bonds owned by W. B. A Hazleton RR.
O R G A N I Z A T I O N . — Incorporated on Oct. 9 1903. Stock authorized
and outstanding. *35.000 (par *50). Bonds authorized, *600.000 (cAr);
Date 1905; duo Oct. 1 1045. Int. (5 g. A-O) payable in N e w York.
R O A D . — 3 miles, between W . B. Ter. RR. June, and Wilkes-Barre,
Ralls. 95-lb. T; gauge, 4 f . 8J4 In. Pres.. O. J. Kirschner; Sec.-Treas..
t
N. O. Yost.
(1) M assachusetts N ortheastern Street Ry.
All the stock of this company I owned by the N e w Hampshire Elec. Rys.
s
O R G A N I Z A T I O N . — A Mass, corporation. Owns and operates a local
and lnterurban railway In Northeastern Mass, and Southeastern N. H.
Maintains a through service between Haverhill, Lawrence. Lowell, Nashua.
Amesbury and Newburyport. Power I purchased from the Rockingham
s
County Lt. A Pow. Co. under a contract extending beyond July l 1934.
On Nov. 1 1916 was authorized by the P. S. C o mm, to increaso single
cash fares ftom 5 to 6 cts. and tho price on ticket books by 20%. In
April 1918, however, applied for auth. to go back to tho 5-cent faro and
adopt a zone system under which present fare sections will be divided into
two zones with a minimum cash fare of 5 cts. for each zone or portion
thereof; tickets, good for certain hours of the day, are to bo sold at the rate
of 10 for 75 cts.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
C o m m o n stock ($100)__________
________*1.500.000 __________
Pref 6 % cum ($100)............
6%
605,000 _________
First and ref M *2.000.0001 1914 5gJ-J
807.000 July 1 1934
($1,000) gold-------- c* Int. at Amer. Tr. Co., Boston, Trustee.
Citizens’ Elec St R y 1st M
1900 6 g J-D
230,000 Dec 1 1920.
HELENA, MONT.
*230,000 gold_________ Beacon Trust Co.. Boston, Trustee.
THE HE
L GHT
—
Amesbury A Hampton 1st M l 1899 5 g A-O
03,000 Oct 11919 power, gas L E N AandI fuel. & R A I L W A Y C O . Trolley, electric light and
llgnt
gold $100,000 ($1.000)___ Int. at Beacon Tr. Co.. Boston, Trustee.
O R G A N I Z A T I O N . — Incorporated In Connecticut In Sept. 1905 as sue
B o n d s . The 1st & ref. 5s of 1914 are red. at 110 and Int. on any Int. date
—
on 43 days’ notice. 'Of the remainder of these bonds auth., $293,000 are oessor to the Helena Light A Traction Co. V. 81, p. 1043. Controls th
reserved for prior liens and *900.000 reserved for cost or additions and Helena Gas Light A Coke Co.; comprises the city's ontlro street railway
and gas and eloctrio-llght plants. F r a n c h is e s oxplre April 4 1926.
Impts. under certain restrictions (V. 100. p. 55).
D e c i s i o n . — The Montana Sup. Court lu Fob. 1913 held that city could
E A R N I N G S . — For year ending Dec. 31 1917, gross, $850,823: net, after not enforoo an ordinance which required the company to light I s tracks
t
taxes, $114,270. In 1916, gross, $781,120; not, after taxes, $153,976.
within the city limits without expense to the city— see V. 96. p. 1422.
R O A D . Ac.— Owns and operates about 120 miles of single track (80 miles
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y •
in Mass, and 40 in N e w Hampshire), extending east and west from Haver C o m m o n *900.000---................. .
*561.000 Fob ’ 1 %
18
h l , Mass., entering on the east Newburyport. Merrimac, Salisbury and Preferred *600.000 5 % c u m .....
il
5 Q-F
374.000 M a y ’ 1 \i
18
Amesbury, Mass., and Plalstow and Newton, N. U., and on the weet First mortgage *1.600,0001 1905
5 g M-S
1,043,000 Sept 1 1925
Lawrence, Methuen and Dracut, Mass., and Salem. Pelham and Hudson.
gold (*1,000)........ c*/Int. at Columbia Tr. Co.. N. Y.. Trustee.
N. H. Enters Lowell and Nashua under trackage rights. Owns and oper B o n d s . The 1st M . bonds are subj. to callat 105 and I t ; *249,000 are
—
n.
ates local lines in Newburyport and Amesbury. Connects with tho Bay roserved for extens. and Impts., at 8 5 % of cost, and *26.000 In addition to
State St. Ry.. Manchester A Nashua St. Ry. and the Exeter, Hampton amount reported outstanding are in treasury. A s in k in g f u n d of 1 K % per
A Amesbury St. Ry. Also owns a large amusement park on Oanoble Laics ann. of bonds out commenced June 1 1908. which will be Increased to 2>* %
in Salem, N. H. 80 open and 49 closed cars and 25 work cars and snow psr annum June 1 1918; said fund to be used lu retirement of bonds at not
plows.
higher than 106 and int. 8ee V.81. p. 1550. *182.000 have been retired.
OFFICERS.— Pres.. D. A. Belden; Treas.. F. E. Webster; Gen. Mgr..
D w i d e n d s . — Five per cent per annum In quarterly Installments I being
s
Franklin Woodman.— V 100, p. 53: V. 103, p. 2078, 2238.
pakl on pref. stock. First dlvldond on common. 1%. paid Oct. 31 1906.
In 1907.3%. In 1909.3%. In 1910. 4%. In 1911 and 1912, 6%. In
(2) Dover Somersworth & R ochester St. Ry.
All tho stock and $226,000 bonds owned by N o w Hampshire Elec. Rys. 1913.5%. In 1916 and 1917. 2 %. In Fob. 1918, 1 %.
EARNINGS—
G ro ss
N e t ( ft e r
a
In terest,
B a la n c e ,
O R G A N I Z A T I O N . — Chartered under the laws of N o w Hampshire. Is
C a le n d a r Y e a r —
E a r n in g s .
T a x es).
~
~
'
a consolidation of the Union Elec. Ry. and the Rochester St. Ry.
A c.
S u r p lu s .
1917... .............. $346,830
*124,697
$78,212
$46,485
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
1916................. 329,195
111,339
70,225
41,118
Stock $375,000 ($100)__________
________
*375,000 ... .....
R O A D . — Operates 23.65 miles of track.
First mtgo g $300,000 ($1,-/ 1901
5 g J-J
see text July 1 1921
P. G. Gosslor; V.-Ps.,
I.
000); bds cannot be called\Int. at Amer. Tr. Co., Boston, Trustee. R.OFFICERS.— Pros.,O. W. McConnell; Sec. J. I Pardoe, A. Coppoll,
B. Marchant and
A Troas., T. W. Moffat;
B o n d s . All the bonds except $74,000 aro owned by N e w Hampshire
—
Asst. Sec., H. B. Brown ( l of N o w York), and Asst. Sec. A Asst. Treas.,
al
Elec. Rys. Co. Sink, fund of *5,000 per ann. began In 1904.
A. B. Sibloy, Holena. Operated under the genoral management of J. G.
E A R N I N G S . — For calendar year 1917, gross, $118,379; net, after taxes Whito Mgt. Corp., N o w York City.— V. 91, p. 1095; V. 96, p. 1422;
$17,972. In 1916, gross, $116,161; net, after taxes, $22,748.
________ _ _____
V. 106, p. 1035.
R O A D . — Owns and operates about 21 miles of lin .
o
OFFICERS.— Same as for Massachusetts Northeastern St. Ry.
HOLYOKE, MASS.
HAZLETON, PA.
WILKES-BARRE & HAZLETON R R .
O R G A N I Z A T I O N . — Incorporated in N e w Jersey M a y 1901 and acquired
the entire ($1,500,000) capital stock and (*1.500.000) bonds of the WilkesBarre A Hazleton R a ilw a y C o . (Pennsylvania Incorporation) and deposited
the same, together with *140.000 (entire issue) of the Lehigh Traction Co.’
*
5 % certificates of Indebtedness and $922,200 of the *1.000,000 stock of
the Lehigh Traction Co. as security for the Wilkes-Barre A Hazleton Rail
road Co. Issue of f
irst collateral trust mortgzge 5 % gold bonds. V. 72,
d . 1281. F r a n c h is e s are 999 years In and around llazleton and perpetual
from Hazleton to Wilkes-Barre.
I n te r e s t o n B o n d s . The M a y 15 1914 interoat on the collateral trust mtgo.
—
of 1901 due M a y 15 1951 was not paid when duo. In lieu of paying the
Interest bondholders were requested to surrender their coupons, due M a y 15
1914 to Nov. 15 1910, and In return the company Issued non-lnterest-boa’
rlng
certificates for the coupons as they becomo duo. See V. 98, p. 1639. Tho
default was the result of a strike of the employees of the Lehigh Traction
Co., a subsidiary, ' he interest duo M a y 15 1914 was paid June 15 1916.
’
and that duo Nov. 15 1914 was paid Nov. 20 1916. A supplemental agree
ment, dated Feb. 15 1918, was made between the company and tho bond
holders by which tho remaining unpaid past-due coupons were extended for
a further period of five years, or a total of eight years from tho dato on
which they originally f l due. Coupons affected aro those for M a y 15
el
1915, Nov. 15 1915, M a y 15 1916 and Nov. 15 1916. 1917 int. paid whon
duo. M a y 1918 interest was paid when due.
8T O O K A N D B O N D S —
D a te .
I n terest.
O u ts ta n d in g . M a t u r i t y .
C o m m o n *2.500,000 (*100)......
......
$2,500,000 .........
Pref 8% non-cum $700,000-......
......
185.000 ........
Collateral trust mortgage *2.-1 1901 5 g M - N 1 5 1.900.000 M a y 151951
500.000 gold ($1.000)-- c*/Int. at Guaranty Trust Co.. N. Y.,Trustoo
Collateral trust mortgage $1.-1 1905 5 g A-O
1.227.000 Oct 1 1945
500.000 gold ($1,000)--- cf Int. at Guaranty Trust Co., N. Y.. Trustee,
B o n d s a n d S to c k . Of the authorized Issue or *2.500,000 col , trust bonds of
—
l
1901. $600,000 are reserved to retire a l bonds of tho Lehigh Traction Co. A
l
sinking fund of $20,000 per annum, which began Juno 1 1908, I to bo Ins
veeted In the collateral trust bonds or In bonds purchasable by savings
banks In N e w York State. See V. 72, p. 1281: V. 78. p. 289. Tho collateral
trust bonds of 1905 have a s in k in g f u n d of $10,000 per annum, which began
In 1910. Bonds can be called at 110. Preferred stock can. at option of
company be changed at any time Into the bonds of the company, at par,
said bonds to bear not less than 5%, or may be red. at par In cash.
E A R N I N G S . — For cal. year 1917 ( n l allied companies), gross, $499,
ic.
141; net, $118,155; Interest, $189,792; taxes, *16,244; def., $87,881. In
1916, gross, $487,359; net, $219,968; interest, taxes and renewals, $222,610;
C1GI ••
OFFICERS.— Pres., A. Markle; V.-P. A Gen. Mgr., O. B. Houck;
Sec., N. C. Yost: Asst. Sec., A. Markle Jr.; Treas., YYm. H. Remick.—
V. 83, p. 1292; V. 87, p. 679; V. 98, p. 1539.
*
(1) Lehigh T ra ction C o.— A trolley road.
O R G A N I Z A T I O N . — Chartered Nov. 7 1892. F r a n c h is e perpetual.
Owns, controls and leases for 999 years at an annual rental of *1 each tho
Hazleton A Suburban Electric Ry.. capital $30,000; Hazleton A South
Side Electric Ry., capital $75,000; Hazleton A North Side Electric Ry..
capital $75,000. The $140,000 certificates of ludebtedness and $922,200
of Lehigh Traction stock are deposited as security for the Wllkes-Barro A
Hazleton RR. bonds of 1901.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $1,000,000 ($100)-.-...............
*1,000,000 ...
..
First mortgago $500,000 gold! 1893
5 g J-D
500.000 June 1 1923
„ <5100. $500. $1,000)---c* (Markle Bkg. A Tr. Co.. Hazleton. Trustee.
Certificates of Indebtedness_____
______
140,000
Hazlo Park bonds. $60,000— . 1895 5 g A-O
60.000 '""1925” "
Equip trust etfs. Series A ___ 1915
F-A
45.000
1925
The equipment trust certificates cover 10 steel cars and mature $3,000
■eml-ann. Penna. Co. for Ins. on Lives A Granting Annuities, Phlla.. Pa..
I trustee.
s
. . .
. HOA.D.— Operates 22 miles of track, new 90-lb. steel T ra l , oak t e , well
is
is
ballasted. Road extends from Hazleton to West Hazleton, to Yorktown
(connecting with Pennsylvania RR. and Lehigh Valloy RR.), to McAdoo
(south) and Milnesvillo, Latimer Mines and Freeland (north).
OFFICERS.— Pres., A. Markle; V.-P,, G. B. Houck; Sec. and Treas.,
N. O. Yost; Gen. Mgr., C. B. Houck.— V. 99, p. 984, 1598. 1673.
H O L Y O K E S T R E E T R A I L W A Y . — Trolley.
O R G A N I Z A T I O N . — Incorp. In Mass. June 11 1884. Leases the Mt.
T o m (Incline) RR. until June 1 1922 at 6 % per annum on tho $100,000 stock.
In 1907 purchased the Hampshire Street Ry. (previously leased). V. 85.
p. 40. In Aug. 1907 purchased the Amherst A Sunderland Street Ry. (V.85,
p. 294). giving a through connection from Holyoke to Amherst and Sun
derland.
S tr ik e . — A strike for a 9-In-l1-hour day with the same wagos as paid for
10 In 12 hours, which tied up the company's lines for 8 H days, was called
off Aug. 15 1915 when an agreement was reached to submit the dispute to
arbitration (V. 101, p. 614). Ou Aug. 27 the mon struck again but wont
back to work Sept. 10 1915. V. 101, p. 923. In Nov. 1916 tho board of
arbitration awarded the men a sliding scale rate per hour of platform work,
effective Juno 1 1916. ranging from 27 cts. per hour for tho fir t 6 months to
s
33 e a per hour for fourth vear men and over.
t.
On Feb. 17 1918 was auth. by tho Mass. Public Sorvlco Comm, to increase
aro for long hauls to 10c
.
STOCK—
D a te .
I n t e r e s t .O u t s ta n d i n g . M a t u r i t y . A c .
Stock ($100).................
J-J
$1,342,000 Jan.’
18,lH
First mortgage. $2,500,000.1 1916
5 A-O
850.000 April l 1936
gold ($1,000)-........c*(Int. atSpringf. Safo Dop. A Tr. Co., Trustso
Deb bds (*500. S1.000)c*.ntf 1899 5 A-O
85.000 Oct. 1 1920
Debenture bonds...... ntf 1903
5 A-O
265,000 April 1 1923
Loosed line rental M t T o m R R
stock 0 % ...................
0
100,000 .........
U o n d * . — *350.000 1st M .bonds aro reserved to retire the debenture bouds,
remainder Issuable for additions and Impts. under certain restrictions. Red.
at 107 and Int. on and after April 1 1920. V. 100, p. 982.
Interest on debenture bonds payable at Holyoke National Bank.
D iv id e n d s . — From 1892 to 1915. In
c!., 8 % yearly. In 1916, 0%. In
Jan. 1917, 3%; July, U 4 % . In 1918, Jan. 1>S%.
R O A D . — Has 69.975 miles of track, including Mt. T o m (incline) R R
4.900 feet long, and connecting with tho Woronoco Street Ry. to Westfield,
Mass.; with Springfield St. Ry. to Springfield, Mass., and with Northamp
ton St. Ry. to Northampton, Mass..and direct to Chicopee,Chlcopeo Falls.
South Hadley, Amherst and Sunderland. Passenger cars. 141; other scrvlco cars, 27; snow-plows. 13: other vehicles, 7: electric motors, 209.
E A R N I N G S . — For years end. Dec. 31:
1917.
1916.
1917.
1916.
Gross earnings__ $717,508 $695,661 Balance for dlvs.. $40,719 $93,815
N e t ........... 159,720 206,619 Dividends..- (4^)40,260 (6)80,520
Int., taxes, Ac... 119.001 112,774 Balance for year.. sr$13,325
OFFICERS.— Pres. A Gen. Mgr., Louis D. Pollislor; Sec. A Treas.,
S. D. Nevin; Asst. Gen. Mgr., Geo. E. Pe l s e ; Aud., G. F. Dlnneen,
llir
a l of Holyoke— V. 100, p. 733, 982; V. 101, p. 614, 923; V. 102, p. 153.
l
HOUGHTON, MI0H.
HOUOHTON COUNTY TRACTION CO.— Trolley road.
O R G A N I Z A T I O N . — Organized In 1908 and took over Houghton County
Street Ry., which latter company was Incorporated in 1899. Does an oloctrlc railway buslnoss in Houghton and Keweenaw counties. Mich., connect
ing tho cities and towns of Houghton, Hancock, Laurlum, Red Jacket,
Lako Linden and Hubbell, and tho mining locations of Quincy, Osceola,
Wolverine, Allouez, Ahmeek and Mohawk. F r a n c h is e s ou public streots
exptro In 1929. 1930.1932,1933 and 1938. Largely on private right of way.
$100,000 common stock owned by Public Service Investment Co.
STOCK A N D BONDS—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity .
...
$750,000
See text.
C o m m o n $750,000 ($100)......
Prof 0 % cum $500,000 ($100)----A-O
207,200 Apr '18. 3 %
1st consol mtgo $1,600.0001 1908 5 g J-J
731,500 Jan 1 1937
($500 and $1,000) gokL.tfllnt. at Old Colony Trust Co., Boston, Trust.
Hough Co St Ry mtgo $750,-1 1900 5 g J-J
267.000 July 1 1920
000 ($1,000) assumed_c*tf/Int. at Boston Safo Dop. A Tr. Co., Trustee.
S tock a n d B o n d s . — Pref. stock I redeemable at 110. $267,000 consol,
s
mtgo. bonds resurved for prior l ons; $24,600 aro In treas.; $417,000 for fu
i
ture additions at 80% of cost: $82,000 owned by company; they are sub
ject to call as a wholo or In part at any timo for sinking fund at 105 and i t
n.
Sinking fund 1H % of outstanding bonds, $78,000 have boon canceled. Tho
Houghton County Street Ry. bonds can bo called as wholo or In part at
105 and Int. at any time. V. 87, p. 614. $483,000 havo boon canceled.
D iv i d e n d s . On pref. 3 % s.-a. from Oct. 1908 to April 1918 Inc . On
—
l
common, 2 % Oct. 1909. In 1910, April, 2 H % and same amount s.-a.
to and including April 1914. None slnco.
M 1918.|
AY,
ELECTRIC RAILWAYS
53
STOCK AND BONDS— D a t e .
In terest.
O u ts ta n d in g .
L a st D ie .
J-J
*5,000,000Dec’ 13 1 H %
Stock *5.000,000................................
1st mortgage $5,000,000 goldl 1903
5 g A-O
5,000,000 Jan 1 1933
($1,000) sink fu n d ____c*tf JInt. at Guaranty Tr. & S. D . C o., Phlla., T r.
B o n d s . — A s in k in g f u n d provides for the payment annually o f 1 1-5% o f
bonds outstanding, Including those In the sinking fund. S e e V .7 6 ,p . 1085Bonds may be drawn for sinking fund at 102)4 and Int. and are subj. to cal.
atthatprico. Seo Y. 81, p. 264. $1,136,000 (included in amount reported
outstanding) held in sinking fund M a y 1 1918.
D iv i d e n d s . — First dividend on stock, 1% . was paid Dec. 31 1908; In
1909, 2% ; in 1910. 2% ; In 1911. 5% : in 1912, July. 2% ; D ec., 2 % . In
1913, Juno. 2% : D oc.. 1 H % - None since.
ROAD, Ac.— nas completed 24.39 miles o f single track and owns 9-story
ofTlco and terminal building, train-sheds and 3 freight depots centrally
INDIANAPOLIS, IND.
located In Indianapolis: also real estate on which same are constructed.
This terminal I* used by all lnterurban roads (13 In number) entering Indi
TERRE HAUTE INDIANAPOLIS & EASTERN T R AC TIO N .
A new freight terminal
O R G A N I Z A T I O N . — Incorporated In Indiana on March 23 1907 w»d anapolis.Street R y.. 116.09 miles. ls to be erected. Also leases the Indi
acquired by purchase ( Indianapolis A Eastern Ry.; ( Indianapolis anapolisk. w. capacity. Owns 299 Owns electrical and steam equipment of
1)
3)
7,000
passenger and 113 service
Coal Traction; (3) Indianapolis A Western Traction, and (4) Richmond cars. Also operates under lease 182double-truck and 52 double truck pas
single truck
senger car* and 5 service cars owned by the Indianapolis Street Ry.
8tOnt
March°25ri907?oy
ased the Terro Haute Traction* LightOo. for 9 M
EARNING S.— For calendar years:
years (see terms under that company below), and In April 1907 leased far
G ross.
N et.
C h a r g e s.
B a la n c e .
999 yoars the Indianapolis A Northwestern Traction and the Indianapolis f
t Y ear—
1917__________$3,654,634
$1,442,621
$1,467,838
def.825,217
Martinsville Rapid Transit (see terms under^respective <ympantes)
.
1,573,779
1,451,228
sur.122,551
In April 1910 purchased 40.717 of the 50,000 sharea of the stock of ths 1916__________ 3,638,908
O F F I C E R S — Pres., Robt. I Todd; V.-Ps., E. B. Peck, Marshall S.
.
Indianapolis Trac. f Term. Co., giving i s ovm commoni and prrf. stock
t
t
In exchange (V. 90. p. 1103, 1240): and since that time has acquired th« Morgan and John J. Appel; Sec. A Treas., W. F. Milholland.— V. 98, p.
remainder of this stock oxcept directors' shares. Owns a one-fourth Inters* 623: V. 104, p. 250, 1801; V. 105, p. 2272; V. 106, p. 189, 499.
In the United Tractions Coal Co., insuring the company an adequate coal
(a) Indianapolis Street R y.— A trolley system.
supply. See Shirley Realty Co. of Indiana In V. 104. p. 1805.
On M a v 1 1912 leased for 999 yoars the Indianapolis CrawfordsvUle St
O R G AN IZATION — Incorporated In Indiana March 7 1899. After
Danville f l c Ry. (seo terms under latter company below) . V .94. p. 1507. acquiring the Citizen*’ Street R R . o f Indianapolis and the City Railroad,
io.
F r a n c h is e s . — In a letter to bankers In M a r 1910, Preeldent of the com ■Bade a contract with the City of Indianapolis agreeing to surrender the
pany said- “ Thegreat majority of the franchisee under which the eyetem i rights and franchisee o f both companies and accept a new franchise running
t
oporatod extend well beyond the l f of those bonds [1st & ref. mtge.). The only thlrtv-foar years. The contract also provides that cash fares are not
ie
F r a n c h is e s In the city of Indianapolis expire In 1933.
to exceed rive cents, with free transfers, ana tickets are to be sold at the rate
In Fob. 1918 applied for auth. to purchase for $21,000 the $50,000 com. wf six for twenty-five cents and twenty-five for one dollar.
The company also binds itself to pay over to the city (which Is to expend
and $150,000 prof, stock of the West Indiana Utilities Co., which operates
It on the public works) the sum of $30,000 yearly from 1899 to 1925. and
lighting plants at West Terro Haute and Brazil, Ind.
R a te s .— In M a y 1918 the application of this co. for ncreasod freight *50,000 yearly from 1928 to 1932. inclusive, the contract expiring In 1933—
see V. 68. p. 723. The city gets the right to purchase the property -at
rates was tentatively approved by tho I.-S. C. Commission. V. 106
any time within two years and not later than one year before the expiration
p. 1901.
a t this contract," nothing to be paid for the value of the franchise.
Law
M a tu r ity .
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
■ust-rined May 1902. V. 74. p. 936.
,. .
C o m m o n $12,500,000 ($100)..............
*9,100,000
As to the three-cont fare case, which the U. S. Court o f Appeals decided
9.100.000
Bee text
Preferred $12,500,000 ($100)- . . . .
-----6.500.000 April ----- in favor o f the Citizens Co. In Dec. 1897, see Supplement of N ov. 1898. and
1 1945
lstftref mortgage $8 ,
000,0001 1910 5'A-O
.
64, p. 842, 1180: V. 05.
, „
gold (SI 000) sf
c*tf[Int. at Fidelity Trust Co., PhIJa., Trustee. V.Guarantees the (*400.000)p. 51, 181. 1172.Ripple Traction C o., and owns
bonds of Broad
IndUnapolls * Easton 1st 1902
5 g J-J
See text Julv 1 1937
Cons M $1,000,000 gold!Int. at Mercantile Trust Co.. N. Y.. or at 75% o f Its stock.
L e a s e . — On Dec. 29 1902 was leased to the Indianapolis Traction Sc Ter.
($1,000)slnltlng fund..c*tf [ Central Trust Co.. Indianapolis, Triwtoe
Ind f Green 1st M . *300.0001 1899
t
5 g J-J
55-000 Jan 1 1929 mmal Oo. for 31 years. See V. 75, p. 1301. Lease provides for dividend of
r*i nnm o n i
-ll
c*tfl Int. at Clt. Savings* Trust Co., Tr., Olcve.. 1 % Jan. 1 1903, then 3% in semi-annual installments for first year, 4% for
Ui.uwu) gom.......c trj oratFlrst National Bank. N e w York City.
second year, 5% for third year and 0% after July 1900.
S tock . — Prof, stock I 6% cum. after July 1 1910. Should com. at aa y
s
D a te .
I n t e r e s t . O u ts ta n d in g . M a t u r i t y , & c .
STOCK A N D BONDS—
time pay 0%, prof, will pay tho same. V. 90, p. 1555.
J-J
*5.000,000 Jan ’ 8 / 3 ^
1
B o n d s . Remaining 1st f r f bonds are reserved for additions and im Capital stock (5100)-...........
—
t e.
6,000.000 Jan
4 g J-J
provements. under careful restrictions. Callable as a whole from April 1 Indianapolis Street Ry genf 1899
rtgago
mortgage *6,000,000 gold! ’
1
" Interest at Guar. Trust Sc Safe Deposit Co..
1915 at 105 and int.. or In part, for sinking fund only at 103M ■no ta«.
($1 ,000) guar___
-
c*ntfl Philadelphia, Trustee.
on any Int. date. $722,000 held In sinking ftind M a y 1 1918.
_
mS’
5 g M-N
1,000,000 M a y 1 1933
Citizens Street R/'lst M l 1893
S.
f *55.000 p. a. f r t 5 years and 5106,675 p. a. thereafter; bond*
.
is
$4,000,000 g ($1,000) -c* tf Central Trust Co., N e w York, Trustee.
acquired for n. f to be allvo and int. added t o e . f. V .90, p. 1491.
.
1909
5 M-N
20.000 See text.
Of tho $1 000.000 Ind. St East, consols auth., $300,000 are reserved to Equ.p. certificate* Serif* " A " Fidelity Trust Co., Philadelphia, Trustee.
$200,000 ($1.000).......
retire the Ind. f Groonfleldlst 5s, *87,000 have been canceled by rink. fund.
t
30.000
See text
Equip, certificate* Serif* “ B” 1911 5 J-J
Of tho remaining $633,000 out, $578,000 are owned bv T ctto Haute Ind St
SlOO.OOO_________ ____ Fidelity Trust Co., Philadelphia, Trustee.
East. Trac. A s in k in g f u n d , 1 % of bonds out. began July 1 1908. Fond 1
*
1913 5 M-S
50.000
See
to be Invested In the company’ bonds I they can be bought at not more Equip, certificates Series " C ” Fidelity Trust Co.. Philadelphia, Trustee. text
s
f
$100.000...... .......
than 105 and Int. Bonds cannot bo called. See V. 75. p. 342. On tho
60.000
Seetext
Ind. & Greenfield bonds, $12,500 I payable yearly to a sinking fnnd be Equip. certificate* Series “ D ” 1913 6 J-D
s
$100.000... .... .
ginning Oct. 1 1904. with which bonds beginning with No. 1 are being pur
1916 5 J-D
113.000
Seetext
chased at 105 and accrued Int ; $229,000 wore so purchased up to Equip certificates Series “ E” Pa. Co. for Ins. on L A G Atm..P hil..trust,
.
*125.000 ($1.000)---------- A
at
Interest on Citizens’ consols ; Fourth Street Nat. Bank, Philadelphia.
M $ i v \ d J n d s '.- - Initial dlv.. 1 M % . on pref. paid Oct. 1910: same amount
The mortgage of 1899 was for $7,000,000. but $1,000,000 has been canquar. to and incl. Jan. 1914. None paid since. See V. 98. p. 914.
eeled. N o bonds reserved for the Citizens’ consols. The company binds
Itself to pay to the Indiana Trust Co. a sum annually sufficient to redeem
1917.
1916.
1915.
$7,110,342 $0,970,395 86,430,317 at maturity the greater part of tho entire issue of IndianapolisAStreet Ry.
bonds; this provision Is guaranteed by the TndlanapoILs Traction Terminal
4.383,821
Operating expenses and taxes------ 4,792.925
4.114.340 Co. Seo V. 76, p. 542. $910,000 (included in amount reported outstand
ing) held In sinking fund M a y 1 1918. Equipment certificates Series “A ”
$2,317,417 $2,680,574 $3,322,071 mature $10,000 on M a y 1 and Nov. 1 each year until paid In f l . $180,000
ul
JVUUl/Oll OllU UWMV*
-- - --- $1,633,547 $1,629,382 $1,628,708 havo been retired. Thoy cover purchase of 54 new cars. V. 88, p. 1499.
145.097
102,089
Sinking funds, subsidiary companios.
159,417 Sorios “B ” mature $5,000 on Jan. 1 and July 1 in each year until paid in
27,550
27,475
Int. St sk. fd. on divis. bds. of this co.
27,500 full. $70,000 havo been retired. They cover purchase of 25 new cars.
Series “C ” mature $5,000 on March 1 and Sept. 1 each year until paid
$493,223
$767,628
8506,446 In full. Thoy cover 25 now cars. $50,009 have been retired. Series “D ”
Balanco___________ _____ _—
$303,123
Interest on T. H. I St E. T. bonds... $296,269
.
*309.184 mature $5,000 on Juno 1 and Dec. 1 each year until paid. Covers 25
128.552
Sink. fd. on T . H. I Sc E. T. bonds.._ 135,406
.
118.184 now cars. $40,000 have been retired. Series “E ” mature $6,000 or
$7,000 on Juno 1 and Dec. 1 each year. They cover 25 cars. $12,000
Balance....................
$61,548
*335.953
$79,078 have been rotired.
N o t e . _In addition to sinking funds as shown abovo. there wa* paid as
Stock and bonds listed on Phlla. Stock Excnange. V. 69. p. 851.
Intereat on bonds already held by trustees in sinking hind which wa* ap
plied to tho purchase of additional bonds, $84,604 in 1917, $74,600 in 1916
R O A D . — 110.69 miles of track; 182 single-truck and 52 double-truck
and $63,215 in 1915, making total received for sinking fund account by passenger and 5 service cars. 90-lb. r i .
al
trustees $405,982 in 1917, $386,992 In 1916, and $361,616 in 1915.
OFFICERS— Prea., Henry Jameson: V.-P., n . S. New: V .-P ., H. JR O A D . — Operates a m o d e m high-speed .electric railway over lines Hibben: Sec. A Treas., Jo*. A. McGowan: Asst. Sec. A Treas.. W . F.
which compriats a continuous route from ana including the city of Paris i
n Milholland, Indlauapolis— V. 79. p. 151; V. 88. p. 1499
Illinois through the city of Terro Haute and towns of Brazil, Greenea*tle
( Terre Haute Traction St Light Co.
2)
Amo. Olayton and Plainfield, to tho city of Indianapolis, and thence, through
tho towns of Greenfield, ICnightstown. N e w Castle and Cambridge City, to
L e a s e d . — In March 1907 was leased to the Terre Haute Indianapolis A
tho city of Richmond In Indiana: also a line running south rrom Indianapolis Eastern Trac. Co. for 999 years. The latter company guarantees 6% on
to Martinsville, Ind.; a lino running west from Indianapolis to Danville. the outstanding pref. stock and 2% on common for 1)4 years, 3% for
Ind.; a line running northwest from Indianapolis to Lafayette with a 1 year. 4% for 1 year, and 5% thereafter, and $1,000 per year for organi
branch to CrawfordsvUle; a lino running northwest from Indianapolis direct zation expenses. V. 84, p. 750.
to CrawfordsvUle and from Torre Hauto a line north to OUnton, Ind., and a
Tho Terro Haute Ind. A East. Trac. owns all the common stock except
line south to Sullivan, Ind. Also operates the citjrllnes In Indianapolis. directors’ shares.
Terre Haute and Richmond. Total miles in slngjo track: city Hne*. Indi
ORGANIZATION—
In 1904
anapolis. 141.08 Terre Haute, 27.03: Crawfontsvllle, 1.64, and Richmond. tric Co. and tho Terre Is a consolidation Traction of the Terre naute Elec
Haute Electric
Co. Principal railway
12.76; total, 183.16 lnterurban l nes, total. 368.22. Grand total, entire f r a n c h is e s expire 1952; principal lighting fr a n c h is e perpetual: other fra n
i
system, 551.33 miles.
_ _
..
c h is e s average 30 years from Jan. 1 1906. Leases Terre Haute A West.Ry.
OFFICERS.— Pres.. Robt. I Todd; V.-PsV
.
8' M o r *»n. E. B.
Peck and John J. Appel: Sec. Sc Treas., Jos. A. McGowan.
STOCK A N D BONDS—
In terest.
O u ts ta n d in g .
M a tu r ity D a te .
D ir e c to r s . — Robt. I Todd. Randal Morgan. W . Keeley Schoopf. Harry
.
M-S
$2,000,000
See text
C o m m o n $3,000,000 ($100)______
S. Now. J. J. Appel, Jos. A. M c Gowan and E. B. Peck. V. 98. p. 525, 914; Pref. $1,000,000 ($100 6 % c u . ) ___
M-S
1.000.000 Mar. ’ 3 %
IS
V. 99, p. 1911; V. 104, p. 765. 1801: V. 106. p. 930, 1231, 1901.
__________ ___________ _____
5 g M-N
3.147.000 M a y 1 1944
Firs* cons mtge *5,000,000\_1904
gold__________ _____ tf/Interest at State Street Trust Co.. Boston.
(1) Indianapolis Traction St Terminal Co.
5 g J^I
1,500.000 July 1 1929
In April 1910 control wag acquired by the Terre Haute Indianapolis 3c Terre Haute Electric 1st mtg\ 1899 Boston Safe Dep. A Tr. Co.. Boston.
$1,500,000 gold ($1,000) c*JInt. at
Eastern Traction. V. 90, p. 1101, 1239.
B o n d s . — .The Union Trust Oo. of Indianapolis and the Boston Safe Deposit
O R G A N I Z A T I O N — Incorporated In Indiana on An*. 4 1902 with
of the Terre Haute Electric mtge. Or the
$500,000 capital, which was increased in Jan. 1903 to $5,000,000 to lease A Trust Co. are Joint trustees are reserved to retire prior lions. The new
consols, $1,500,000
the Indianapolis Street Ry. and to provide terminal facilitiee for a l In $5,000,000callable as a whole at 110 and Int. on any Int. date. A s in k in g
l
terurban electric roads now entering or yet to enter Indianapolis. F r a n bonds are% of outstanding bonds commenced M a y 1 1906. $353,000 was
fu n d of 1
c h is e I for 31 years, under tho terms of which the company I to pay tho
s
s
1 1918. Tho
of Terro Haute
city 4 cent* per car for tho f r t 1 1 years, 0 cents Tor the next 10 years and 9 held by this fund M a y Trust Co. of United States Trust Co. this mortgage.
is
Boston are trustees of
cents for the remaining 10 years. On Dec. 29 1902 leased for 31 years the ami tho State Street
See V. 78. p. 2013.
Indianapolis fltreet Ry. V. 75, n. 1301.
. .
.,
E A R N I N G S . — For calendar years:
lnterurban railways enter tho city under agreements by which they nay
Y ea r—
G ross.
N et.
O t h . I n c . D e d u c n s . S i n k .F d .
B a la n c e .
3 cents per passenger for a l passengers carried In tho city limits and an
l
......... ..$1,489,638
$6-19,860 $1,000
S264.883
1917
additional 1 cent for thoso using tho terminal station. V. 81, p. 204.
. 1,409,369 656,342
1,000 266,483
31,897 358,962
Owns a one-fourth Intorost In tho United Tractions Coal Co. Insuring 1918
the company an adequato coal supply. See Shirley Realty Co. of Ind.
R O A D . — Embraces 87.20 miles of track In Terre Haute, Including lines
in V. 104. p. 1805.
from Torre Haute to West Terre Haute, Clinton. Brazil, Sullivan and SanF a re s — D e c i s io n . — On Nov. 15 1917 applied to tho P. 3. C omm, of
tord. Ind. Rails, 60 to 80 lbs. Owns 108 city passenger and 15 inter
Indiana for auth. to establish a uniform 5-cent faro by abolishing the urban passenger cars, 0 freight and 20 service cars.
resent rate of 25 tickets for $1 or 6 for 25 cents. O n Dec. 13 1917 the
OFFICERS.— Pres.,
V.-P..
.
omm. handed down the decision that I had no Jurisdiction In the matter. Joseph A. McGowan.— Demas Doming; V. 90. Robt. I Todd; Sec. A Treas..
t
V. 84. p. 750;
p. 1555: V. 98. p. 525.
On Jan. 2 1918 Judge Lewis B. Eubank of the Marion County Circuit
Court sustained the demurrer of tho C o mm, to a petition filed by tho co.
(a) Terre Haute & Western Railway Co.— An electric road.
on Dec. 16 1917 to compel the C o mm, to investigate tho merits of I s
t
Leased to Terro Hauto Traction A Light Co. for 999 years from Nov.1907.
request for Increased faro. The Court held that tho franchise contract
O R G A N I Z A T I O N . — Incorporated In 1907 in I l n i . Road extends
lios
between the city of Indianapolis and the co. L binding and therefore tho
s
1.
Comm, has no power to modify rates for the duration thereof.— V.108.P.189. from the Indiana State line near Sanford. Ind.. to Paris. 1 1 , 10.63 miles.
On Jan. 22 1918 the company filed an appoal from this judgment. V. 106, Began oporatlon Oct. 25 1907. Is entirely on private right-of-way. Entire
com. and pref. stock owned by Terre Haute Ind. A Eastern Trac. Co.
p. 499.
E A R N I N G S . — For 12 months ending Doc. 31:
„
_
.
Y ear—
G ross. N e l(a ft.T a x .) I n t .
S k .F d . S p e c .R e s . S u r p lu s .
1917 ______$343,134 $126,682 $50,309 810,991 $23,674 $41,708
1916_______ 326.398
139,939
62,800
11,115
14,638
61,386
R O A D . — Miles of single track equivalent. 32.15:34 cars and 7 plows.
Standard gauge. Power station capacity, 1,000 k. w. Also purchaa**
power from Iloughton County Electric Light Co.
OFFICERS.— Pres., Harry T. Edgar, Boston; V.-Ps., F. J. Bawdon.
Houghton, and T. N. Perkins, Boston: Sec., Alvah K. Todd, Boston:
Treas., Henry B. Sawyer, Boston; Mgr., E. L. MUllken; Gen. Mgrs.,
Stono & Webster Mgt. Assn., Boston.— V. 102, p. 1436: V. 104, p. 1701;
V. 106, p. 395.
____________
S
$31,57
54
[Vol. 106
ELECTRIC RAILWAYS
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock common 5200,000.... .............
$200,000 .........
Preferred $150,000___________ ___________
150,000 ........
First mortgage $250,000 gold! 1907
5 g M-N
250.000 Nov 1 1937
guar p & 1 ($1,000)__ c*tf/Int. at N o w England Tr. Co., Boston, Trus
B o n d s . — Are guar, p. Sc 1 by endorsement by Terre Haute Tr. & Lt. Co.
.
E A R N I N G S . — For calendar years:
D e c . 31 Y e a r s —
G ro s s .
N e t , a f t .T a x . O t h .I n c . D e d u c ti o n s . B a l.,S u r .
1917------------ .$54,060
$22,515
$500
S12.500
$10,515
----- 51,546
22,116
500
12,500
10,116
OFFICERS.— Pres., T. F. Grover; V.-P., F. T. O ’
Hair; Sec. &
Treas., John T. Beasley.— (V. 90. p. 1555).
(3) Indianapolis & Northwestern Traction Co.— An electric road.
L e a s e . — In April 1907 was leased to the Terre Haute Indianapolis &
Eastern Traction for 999 years. The latter company will pay the interest
on the bonds; also 1 # % quar. or 5 % per annum on the $450,000 pref.
stock and $500 per year for organization. V. 84, p.869.
Entire issue of common stock, except directors shares. I owned by the
s
Terre Haute Indianapolis & Eastern Traction.
O R G A N I Z A T I O N . — Organized in 1902 in Indiana. Operates a modern
high-speed interurban railroad, standard-gauge, located upon privato right
of way outsido of tho city corporate limits. Extends northwesterly from
the city of Indianapolis through the cities of Lebanon and Frankfort to the
city of Lafayette, with a branch from Lebanon to Crawfordsville, each of
which cities I the county seat of i s respective county. Has trackage
s
t
rights to tho business contres of Indianapolis aud Lafayette.
The franchises run for 31 to 50 years from 1907 and pormit the carrying
of freight, express and mall, as well as passengers.
STOCK A N D BONDS—
D a te.
In terest.
O u ts ta n d in g .
M a t u r it y
C o m m o n $2,550.000— ..... ............. .
$2,550,000 ......
Prof (SI,000,000) 5 % c u m _______
Q-J
450,000
See text
First mtgo $3,000,000 goldl 1903
5 g M-S
2.470.000 M a r 1 1923
($1.000)---------- c*tf flnt. at Columbia Tr. Co., N. Y.. Trus.
B o n d s . — The remaining $530,000 for Improvements, &c., at 5 0 % and 75%
of cost. N o s. f , but bonds can be called on any lnt. date at 110 and lnt.
.
E A R N I N G S . — For years ending Dec. 31:
C a l.Y e a r s —
G ro s s .
N e t . a f t . T a x . O th .I n c . D e d u c ti o n s .
B a la n c e .
1917------- $462,274
$118,643
$500
$123,500
def.S4,357
1916 ........ 448.529
136,271
500
123,500
sur.13.271
R O A D . — Embraces 84.15 miles of track between Indianapolis, Zlonsv l o Lebanon, Frankfort and Lafayette, including a branch from Lebanon
il,
to Crawfordsville. Standard gauge; 70-lb. T r i . Owns 20 passenger,
al
5 freight and 5 service cars.
Power houso and car barn are at Lobanon.
V. 88,p. 295: V. 92. p. 59.
OFFICERS.— Prc3. liobt. I Todd; V.-Ps., Chas. Murdock and Harry
,
.
S. New; Sec. Sc Treas., Jos. A. McGowan.
(4) Indianapolis & Martinsville Rapid Transit Co.— A n electric road.
L e a s e d . — In April 1907 was leased to the Terre Haute Indianapolis Sc
East. Trac. for 999 years. The latter co. will pay tho int. on the bonds; also
$500 per year for organization. V. 84, p. 749. The Terre Haute Ind. Sc
Eastern owns entire issue of stock except directors’shares.
O R G A N I Z A T I O N . — Incorporated In Indiana on April 24 1901. Oper
ates on private right of way except in Incorporated towns.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $750,000 ($100).... ......
......
$750,000 _____
First mtge, $750,000 ($1,000)1 1902
5 g J-J
750,000 Jan 1 1932
gold---------- c*&r ntfjUnion Trust Co. and Security Tr. Co. of ln(dianapolls, Trus. Int. at Sec. Tr. Co., Ind.
B o n d s . — N o sinking fund, but bonds are subject to call after 10 years at
105 and interest. See V. 78, p. 1223.
E A R N I N G S . — For calendar years:
D e c . 31 Y e a r . G ro s s .
N e t . a f t . T a x . O th .I n c . D e d u c ti o n s .
B a la n ce .
......... ......... $172,403 $ 34,010 $500
$37,500
1917
1916......-.167,112
’
39.954
500
37,500
sur. 2,954
R O A D . — Embraces 27.54 miles of track from Indianapolis to Martins
vil e completed In M a y 1903. 70-lb. r i s standard gauge.
l,
al:
OFFICERS.— Pres., Robt. I Todd; V.-Ps., Harry S. New, Chas. M u r
.
dock and John J. Appel; Sec., E. B. Beck; Treas., Jos. A. McGowan.
V. 84. p. 749.
(5) Ind ian apolis C rawfordsville & Danville Electric R y.
L e a s e . — On M a y l 1912 was leased to the Torre Haute Indianapolis Sc
Eastern Trac. for 999 years. Under the lease the latter company guaran
tees p. Sc 1 of 1st M . bonds, 5 % divs. on $200,000 pref. stock and semi
.
annual diva, on com., viz.: y $ % from Nov. 30 1912 to M a y 31 1914. 1 %
Nov. 1914 to M a y 1916, 1 M % Nov. 1916 to M a y 1918 and 2 % thereafter.
O R G A N I Z A T I O N . — Incorp. In Indiana on April 20 1912 as successor to
tho Indianapolis Crawforsdville & West. Trac., sold at foreclosure. Built
entirely on private right-of-way. In cities and towns has 50-year f r a n c h is e s
which permit the carrying of freight, express and mall matter.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n 3400.000 ($100)........
M-N
$400,000 See text
Pref $400,000 5 % cum ($100).....
J-D
200,000 See text
First mtge S2.500.000 gold! 1912 5 g M - N
1.000,000 M a y 1 1952
($1,000) guar p & l „ c & r tfjInterest at Girard Trust Co. .Phila., Trustee.
B o n d s . — Of remaining f rst mtge. bonds, $1,000,000 are for extensions
i
and $500,000 to be issued only under certain conditions. SubJ. to call as
a whole but not In part at 102H and int. on any lnt. day. Sinking fund of
$9,000 per annum on i
nitial $1,000,000 bonds out commenced March 1 1913
When add’ bonds are issued fund shall be increased by such amount as will
l
retire 2-3 of such add’ bonds Issued. $64,000 held alive in sinking fund
l
M a y 1 1918.
E A R N I N G S . — For calendar years:
Y ear—
G ro s s . N e t . a f t . T a x . O t h . I n c . D e d u c . S in k .F d .
B a la n c e .
1917... ...... $259,932 $54,528 $500 $50,333 $11,520 def.$6.825
1916......... 244,219 60,403
500 49,667
10,193
sur. 1,043
R O A D . — Operates 44.89 miles of road between Indianapolis aud Craw
fordsville. Standard gauge. 70 and 85-lb. T r i s An extension from
al.
Crawfordsville to western boundary of Indiana east of City of Danville,
Ind., I proposed.
s
OFFICERS.— Pres., John J. Appel; V.-P., Robert I Todd; Sec. Sc Treas.,
.
Jos. A. McGowan; Gen. Mgr., Robt. I Todd. V. 94. p. 1449, 1565, 1695.
.
BROAD RIPPLE TR AC TIO N .— A trolloy road.
O R G A N I Z A T I O N . — Organized as successor to the Indianapolis & Broad
Ripple Transit Co., sold at foreclosure July 1899. The Indianapolis
Street Ry. owns about 75% of stock, but organization I separate. Road
s
I Jointly operated by the Union Traction Co. of Indiana and the Indianap
s
olis Traction & Terminal Co.
STOCK A N D BONDS—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity ,
Stock $100,000 (par $100)..................$100,000 ........Mtg $400,000 g ($1,000) c*ntf.J1899.... . 5 g J-J
400,000 July 1 1933
(Int. at Guar. Tr. Sc S.D.Co.(PhlIa.), Trust.
B o n d s . — Are guar. p. & 1 by Ind. St. Ity.
.
N o s f and bonds cannot
. .
be called. The Ind. Nor. Trac. Co. (subsequently consolidated with the
Union Tr. Co. of Ind.) guarantees p. Sc 1 of half ($200,000) of the .bonds.
.
R O A D . — 7>4 miles of track from Indianapoli9 to Broad Ripple Park.
OFFICERS.— Pres., Robert I Todd; Sec., Jos. A. McGowan; Treas.,
.
E. B. Peck. V. 69. p. 180; V. 73. p. 137, 183; V. 78. p. 1167.
In April 1913 acquired control of the Cincinnati Sc Westwood RR.. a
narrow-gauge road extending from Westwood, on the boundary line of
Cincinnati, to Brighton, within the city. 5 1-3 miles. V. 96. p. 1297.
On Jan. 19 1918 was auth. by tho Indiana P. U. C omm, to increase
passenger fares from 2 to 2>4 cents per mile.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $2,000,000_______ ____
..
$2,000,000 ........
Pref $1,000,000 [see text)...... .
J-J
1,000,000 In 1912, 1%
First mtge $4,850,000 ($1,-1 1910
5 J-J
___ ,
______ „ 1 1940
1,400,000 July _____
000) gold (see text)____ c*/Interest at Central Trust Co., N. Y., Trus.
I & S E pfstk $600,000 ($100)___
A-O
600.000 In 1910. 5 %
...... ....
5 g j _j
586.000 July 1 1935
Ind & S E 1st M $1,000,000 lg05
gold ($1 ,
000).......... Int. at Farmers’Loan Sc Tr. Co.,N.Y.,Trus.
Ind Shelbyv & Southeast 1st 1902
5 g J-J
414,000 Jan 1 1932
M $500,000 g ($1,000) s f_.
- ___ ____ _____ ___Int. at Amer.Tr,& Sav. Bk., Chicago, Trus.
S to c k . — Ind. & Cin. Trac. pref. I entitled to non-cum. divs. of 2 % until
s
July 1 1911, then Increasing 1 % yearly to July 1 1913; thereafter 5 % per
annum. Ind. & S. E. pref. I redeemable at 105 and accrued dlv. on any
s
dividend date. See V. 81, p. 1375.
B o n d s . — Ind. & Cin. Trac. 1st M. i divided Into three classes, A, B and O.
s
Class A, $1,300,000, a l out; Class B, $200,000, none Issued; and Class C,
l
$3,350,000 (of which $100,000 outst’ reserved for extons., improvem’ s
g),
t.
See. Entire series of bonds of each class I subject to call on or after July 1
s
1913 at 105 and int. As to priority or different series, see V. 92. p. 956.
Of the $1,000,000 Ind. Sc S. E. bonds, S414.000 I reserved for prior liens
s
They are subject to call on any lnt. date at 105 and int. Of the Ind. Shelby.
& S. E. bonds, the entire issue may be called on any Int. date at 110. A
s in k in g f u n d on these bonds of $10,000 per annum began Jan. 1 190S, for
which bonds can be called at 105, beginning with lowest number. $86,000
have been retired.
D iv id e n d s . — On nref. paid In 1911, l?i%: In 1912, 1%.
E A R N I N G S . — For f scal year end. June 30 1916. gross, $440 946: net.
i
$149,900: other Income, $1,290; interest, taxes and dividends onl.&S.E.
pref., $176,637; deficit for year. $25,447.
R O A D . — Operates 58 miles of track from Indianapolis via Rushvllle to
Oonnersvillo and 49 miles of track from Indianapolis via Shelbyvllle to
Greensburg. Total, 105 miles of track. An extension from Rushvllle
via Harrison, O.. to Cincinnati i proposed. 60 and 70-lb. T r i s 20 pas
s
al.
senger cars and 4 express cars.
OFFICERS.— Pres.. Chas. L. Henry. Indianapolis; V.-P., T. F. Rose.
Muncle; Sec., John J. Appel, Indianapolis; Troas., John F. Wild, Indian
apolis. Office, Indianapolis.— V. 105, p. 2094; V. 106, p. 395.
IRONWOO d TMICH.
I R O N W O O D & B E S S E M E R R A I L W A Y & L I G H T CO.
In Jan. 1917 the L. E. Myers Co. of Chicago, I I , purchased control.
I.
O R G A N I Z A T I O N . — Incorporated In Wisconsin. Owns 59% of the
stock of the Ashland Light. Rower Sc Street Ry. Co. Controls tho electric
light, power and streot railway business in Ashland, Ironwood, Bessemer,
Wakefield, Hurley and Gile; the gas business In Ashland, aud the water
supply In Ironwood. Hurley and Gile. Also owns some of tho most valuable
natural water powers in Wisconsin. F r a n c h is e s in Ironwood and Bessemer
expire In 1941. In Wisconsin operates under indetermlnato franchise.
In Jan. 1913 increased I s auth. pref. stock from $200,000 to $400,000
t
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$500,000
See text
C o m m o n $500,000 ($100)................
Pref $400,000 ($100) 7 % c u m _____
Q-M
397,000
See text
First mtge $2,500,000 goldl 1911
5 F-A
1,564,000 Feb 1 1930
sink fund ($1,000) c*.cptj Int. at American Trust Co., Boston, Trustee.
Ash Lt P & St Rv 1st mtgof 1909
5 g J-J
781,000 ’Jan l 1939
$1,000,000 gold ($1.000){Int. at Chicago Sav. Bk. Sc Tr. Co., Trustee
Poun tax refund__ c&r.tfl (Leverett Thompson of Chic.. Co-Trustee.
B o n d s . — Remaining Ironwood Sc Bessemer 1st M. bonds may be Issued
for 75% of cost of new property under certain restrictions. They aro sub
def.$2.990
ject to call on any int. date at 104 and int. for sinking fund. S in k in g f u n d
providing for retirement of 1 % of outstanding bonds began with year
ending Feb. 1 1916. Ashland Light, Power Sc St. Ry. bonds aro subject to
call on any Int. day at 104. Sinking fund of 1% of bonds out began In 1912.
See V. 104. p. 450.
D iv id e n d s . — 7 % per annum In being paid on preferred (Increased In 1916
from 6 % per annum). 8 % I being paid on common stock.
s
E A R N I N G S . — For years ending Dec. 31:
Y ea r—
G ross.
E i v . A T a xes.
N et.
B ond In t.
S u r p lu s .
$123,900
$261,297
$75,610
$85,687
1916...... .$290,197
1915...... 268.362
111.387
156,975
67,584
89,391
R O A D . — Owns 15 miles of street railway serving Bessomor, Ironwood,
Hurley and Gile; 2 water power sites capablo of 7.000 h. p. development,
located at Brownstono and Superior Falls; two developed hydro-electric
plants of 2,650 h. p. at Mellon and Saxon Falls; 2 steam plants at Ironwood
and Bessemer. 113 miles transmission li e . In Sept. 1917 construction
ns
work on a $100,000 1,200-h.p. plant was begun by the Ashland Lt. Pow.
Sc St. Ry. Co.
OFFICERS.— Pres. L. E. Myers; V.-P., L. N. Bolsen: Soc. Sc Treas.,
W m . H. P. Weston. Office, 53 W. Jackson Blvd., Chicago, I I — V. 104,
I.
p. 452, 764.
_______ ___ ______
ISHPEMING, MICH.
M I C H I G A N G A S & E L E C T R I C CO.— Controlled by the Middle
West Utilities Co.
O R G A N I Z A T I O N . — Incorporated In Maine on Nov. 19 1906 as
the Houghton County Gas Sc Coke Co. N a m e changod to tho
above Feb. 14 1917. The company acquired, effective Jan. I 1917, the
Constantino Hydraulic Co., Three Rivers Light & Power Co., Three Rivers
Gas Co., Milling & Power Co., and the Marquette County Gas Sc Elec. Co.
(excluding the street railway, which see below).
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n 3500,000 (3100).................
$500,000 .........
Pref cum $400,000 ($100)---- ---6%
400,000
First Sc ref $3,000,000 ($100, 191
5 g J-J
512,000 Jan 1 1932
$500. $1,000) gold— c*.tf’
(Central TrustCo. of I l n i , Chicago, trustee.
lios’
M Co G Sc El 1st M $1,000, 1910
6g J-J
411,000 Jan 1 1930
000 ($1 ,
000) gold___ c*.tf First Trust Sc Sav. Bank, Chicago, trustee.
Hough Co Gas Sc Coke Co 1906
5 g F-A
85.000 Seo text.
lios
$350,000 ($1,000) g..c*.tf Central Trust Co. of I l n i , Chic., trustee.
Constantine Hydraulic Co 1905
5g A-O
228,000 Apr 1 1925
ios
$250,000 ($1,000) gold.c.tf Central Trust Co. of Ill n i , Chic., trustee.
Three Rivers Gas Co $75,000 1907
5 g A-O
59,000 Oct 1 1936
($500).....-...... c*.tf Detroit Trust Co., Detroit, Mich., trustee.
B o n d s . Tho 1st Sc re . 53 aro secured. In addition to their lien on the
—
f
property, by pledge of entire capital stock (with exception of directors’
shares) of the Marquette County Elec. Ry. Co. Sufficient aro reserved to
retire prior liens and the balance for corporate purposes. Are callable at
102>4 & int. on or before Jan. 1 1927 and at 101 & i from Jan. 1 1927 to
nt.
Jan. 1 1931 on three weeks' notico. Of tho $411,000 Marquotto County
Gas & Elec. Co. 1st 6s reported outstanding, $139,000 have been assumed
by the Marquette County Elec. Ry. Co. (seo below), which has acquired
and owns a part of the property upon which tho mortgage I a lien. Sinking
s
fund of 1 % from 1913 to 1915 and 2 % thereafter. Aro callablo at 105 on
any int. date. The Houghton County Gas & Coke Co. 1st 6s aro duo seri
ally on Fob. 1 as follows: 1917-19, $4,000 per annum; 1920-24. $5,000 per
annum; 1925-29, $6,000 per annum; in 1930, $10,000, and in 1931 the
remainder. The 1st M. os of the Constantine Hydraulic Co. are subject
to c l at 105. The 1st M . 5s of tho Three Rivers Gas Co. aro callable at
al
105 on any interest date.
,
OFFICERS.— Pres., L. E. Myers: V.-P., J. O. Clayton; Sec., O. E.
McCormick; Treas., R. W. Waito, Chicago, 1 1 Chief operating office,
1.
72 West Adams St., Chicago, 1 1 Goneral offico, Ishpemlng, Mich.
1.
( The Marquette County Electric Ry. Co.— Organized with $25,000
a)
capital stock ( l of which, with the exception of directors’shares, is owned
al
by tho Michigan Gas Sc Elec. Co.) Property loasod to tho Michigan Gas Sc
Elec. Co. under general contract which provides for paymont or bond in
terest. operating expenses and upkeep. The company has assumed $139,
000 of the 1st M. bonds of the Marquette County Gas Sc El. Co.
INDIANAPOLIS & CINCINNATI TR AC TIO N CO.
O R G A N I Z A T I O N . — Incorporated In Indiana on Nov. 17 1910 as suc
cessor to the o ld Indianapolis Sc Cincinnati Trac. Co., sold at foreclosure
Nov. 10 1910. V. 91. p. 1385, 1025.
In 1911 acquired the Indianapolis & Southeastern Trac. Co. ( l of whose
al
com. and $30,000 1st M . bonds the'o ld Indianapolis & Cincinnati Trac. Co.
had owned and to which company the Ind. & Southeastern was leased) and
canceled I scom. stock. V. 92, p. 881, 956. Private right of way except In
t
cities and towns. County f r a n c h is e s perpetual. F r a n c h is e s in cities and
towns are for 50 years (the oldest being dated 1904), except in Indianapolis,
which I for 34 years from 1900. Has contract with Indianapolis Traction
s
6 Terminal Co. for 31 years allowing I s cars to enter Indianapolis.
t
In Nov. 1912 the 1 Sc C. Light & Power Co. was Incorporated with
.
nominal ($900) capital stock in the interest of the Traction Co. to furnish
ITHACA, N. Y.
light and power to the communities along the company’ route.
s
ITHACA TRACTION CORPORATION.
In Feb. 1913 tbe 1. & O. Electric RR. was Incorp. with $10,000 capital
stock, to extend the Traction Co.’ lines from Rushvllle to Cincinnati by way
s
In Jan. 1918 Ford, Bacon Sc Davis, N. Y. City, acquirod a substantial
of Brookvllle, Ind., and Harrison, O. It m a y later be merged with the Interest in tho Central N. Y. Southern RIi. Corp., which controls the
Cincinnati Harrison & Indianapolis Traction Co.
Ithaca Traction Corporation.
55
ELECTRIC RAILWAYS
Ma y . 1918. J
E A R N I N G S . — For years ending Dec. 31:
_ ,
O R G A N I Z A T I O N . — Incorp. In N. Y. Mar. 30 1914 as successor of the
G ro ss.
N et.
O t h .I n c .
C h g s .& T a x e s
B a la n c e .
Ithaca Street R y .sold at foreclosure under bondholders’reorganization plan. Y e a r —
$66,182
$27,323
$121,322
def.$27,876
The now co. I controlled by the Central N. Y. Southern RH. Corp., an al 1917.......$442,435
s
...... 387,690
84,137
24,390
102,696
sur. 5,832
lied steam road, bv ownership of a l the ($400,000) outstanding stock and a l 1916.!
l
l
($488,000) outstanding 1st & r f bonds. The Central N. Y. Southern UR.
e.
R O A D . — Owns 26.545 miles of track, 61 cars, 2 sweepers.
Corp. I a reorganization of the N e w York Auburn & Lansing l l , and I
s
it
s
OFFICERS.— Pres., A. N. Broadhead; Sec. & Treas., S. B. Broadcapitalized as follows: C o m m o n stock, auth., $1,275,000; outstanding head; Gen. Mgr., G. E. Maltby, a l of Jamestown.
l
S375 000. I r f. stock, auth. and outstanding, $725.000;and 1st and c l ,
’e
ol
trust 5s due 1964. Auth. $4,000,000: out., $1,000,000. (V. 99. p. 538.)
C H A U T A U Q U A T R A C T I O N CO.— A trolley road.
F a r e I n c r e a s e . — In Dec. 1917 the N. Y. P. S. C o m m . auth. the co. to
O R G A N I Z A T I O N . — Incorporated in N e w York on March 7 1903. Is
jncreases i s fares to 6 cents.
t
controlled by the same Interests as the Jamestown Street Ry.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Capital stock, $1.000.000.......
... -*$400,000
-------____ $500,000 ..
.....
lst&ref M $2,000,000, g, redl 1914
5 A-O
*488,000 Apr 11964 Stock $500,000 ($100)__________
First mtge, $600,000, goldl 1904
5 g A-O
600.000 April 1 1934
any Int date at par&intc*tf J Columbia Trust Co., N. Y., trustee.
($1,000).......... ...cllnt at Tltlo Guar. & Tr. Co., N. Y., Trustee
Ithaca Street Railway 1st M l 1892
6 J-J
175,000 July 1 1922
Current li b l t e Dec. 31 1917--aiiis
-----691,455 --------$175,000 ....
tff Int. atFarmers Loan & Tr Co., N. Y.
B o n d s . — N o sinking fund and are not subject to c ll.
a
75,000 July 1 1922
2nd M $75.000........ tf-. 1894 6 J-J
Cayuga Lake El Ry 1st M.tf 1894 6 J-D
25.000 June 1 1922
E A R N I N G S . — For year ending Dec. 31:
.
* All owned by the Central N. Y. Southern RR. Corp.
Y ear—
G ross.
N et.
O t h .I n c . C h g s .& T a z .
D eficit.
B o n d s . — Of the 1st & re . mtge. 5s, $488,000 are Issued and are a l owned
f
l
$12,542
$1,016
S17.843
$48,285
1917__________ $141,089
by the Cent. N. Y. So. Remaining bonds are reserved for future require 1916 ......... 152,159
39,817
1,224
69,061
28,020
ments. Including the retirement of the three underlying prior lien as above.
R O A D . — Operates 26.73 miles of track from Lakewood, where connec
E A R N I N G S . — For years ending Juno 30:
tion i made with tho Jamestown St. Ry., to Mayville, there connecting
s
J u n e 30
O p e r'g
N e t (a fte r O th er
B on d
O th er
B a la n c e .
with the Pcnnsyivania RR., and to Westfield, N. Y.,connecting there with
Y ear—
R even u e.
T a x e s ) . I n c o m e . I n t e r e s t . D e d u c . S u r p lu s .
the Lake Shore & Mich. So. and the N. Y. Chicago & St. Louis Ry., and
1916-17... ..... $189,860 $34,698 $1,128 $40,029 $2,O6qdef$0,263
from Westfield to Bareelona-on-Lake Erie. Standard gauge; 80-lb. T rail50.435 1.139 38.652 1.914
U.008
1915-16........ 193,902
OFFICERS.— Pres., A. N. Broadhead; V.-P., W m . Broadhead; Treas.,
1914-15-....... 186.498
40,795. 5.700 34,760 1.157
10.578
R O A D . — Owns and operates 11.49 miles of track. Owns 41 motor cars 8. B. Broadhead; Sec., W. R. Reynolds; Mgr.. Geo. E. Maltby;
and 3 other cars. Rails, 80-lb. “T.”
OFFICERS.— Pres.. I . B. Williams Jr., Ithaca. N.Y.; 1st V.-P., H. W.
t
JERSEY CITY, N. J.
Fitz, Pawtucket, R. I ; 2d V.-P. & Gen. Coun.,Chas. E. Hotchkiss. 34 Nas
.
PUBLIC SERVICE CORPORA T I O N .
sau St.. N. Y.; 3d V.-P., Sec. & Gen. Mgr.. I . A. Clarke, Ithaca; Treas..
I
See statement and map under ’Newark, N. J.
’
Asst. Gen. Mgr. & Purch. Agent, T. P. Clancy, Ithaca. V. 105, p. Jobo,
__
^
__
V. 100, p. 395.
JACKSON, MISS.
JOHNSTOWN, PA.
J O H N S T O W N T R A C T I O N CO.— A trolley road.
J A C K S O N L I G H T & T R A C T I O N CO.
O R G A N I Z A T I O N . — Incorp. in Pennsylvania on Feb. 24 1910. Was
Controlled by American Public Utilities Co.
Incorporated originally to take a lease for 18 years from Jan. 5 1910 of the
O R G A N I Z A T I O N . — Incorp. in Miss, in M a y 1912 to combine local gas
Johnstown Pass. Ry. from the American Rys. (Phila.). In Jan. 1914 the
electric light and power and street railway properties. Has contract for Johnstown Pass. Ry. and the Johnstown Trac. Co. were merged under the
city electric lighting running to April 1923. I r a n c h i s c s extend beyond t t e of tho Johnstown Traction Co., the American Rys. Co. having sold I s
il
t
A I r| i i()22
)j
Interests. F r a n c h is e s perpetual.
...
,„
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Holders of tho Johnstown collateral 5s of Amer. Rys. had the privilege
C o m m o n $1,000,000 ($100)... ...........
51.000,000 ......... (until Jan. 15 1914) of exchanging their bonds for the new 1st & re . 5s of
f
Pref 6 % cum 3600.000---------- ------600,000 --------- this company (see American Railways under “Philadelphia"); practically
First nitgo $2,500,000 gold) 1912 5 A-O
930,000 April 1 1922
a l availed of the privilege.
l
(3100, 3500, $ 1,
000)sf_c*tf/Chicago Savings Bank & Trust Co.. Trustee.
O u ts ta n d in g .
M a tu r ity .
STOCK A N D BONDS—
D a le .
In terest.
B o n d s . — Remaining bonds are for mints*, add ns and extens. under cer
$875,000 .........
______
tain restrictions. Subject to call as a whole (or in part for sinking fund) on C o m m o n 31,000,000 par $50..___
1,000.000 .........
Pf $1,000,000 7 % cum ($100).....
......
any interest date at 105 and int. Sinking fund or 2 % of bonds out began
2,000,000 July 1 1943
5 g J-J
Feb. 1 1914. Interest in Chicago and at New York offico of P. W . Brooks First & ref M $5,000,000 s f! 1913
($500, SI,000) gold..c*ntfJ Logan Trust Co. Philadelphia, Trustee.
& Co.. Inc. See V. 94. p. 1566.
399,000 Dec_ 1 1929
JohnsPassIiy c o n M ,$800,0001 1899
4 g J-D
---...
E A R N I N G S . — For 12 months ending Doc. 31.
g($ 1,000)red any lntdayc*tf lint. at Guaranty Tr. Co., N. Y., Trustee.
G ross.
E x p . & T a xes.
N et.
In terest.
S u r p lu s .
Y ear_
1901
4 J-D
1,601,000 Dec 1 1931
1917
$325,492
$208,638
$116,854
$44,490
$72,364 Johns Pass Ry ref M $2,000,-]Interest atgJohnstown Trust Co., Trustee.
000 gold ($1,000)__ c*ntfj
1916------- 309 723
192,251
117.472
44,490
72,982
B o n d s . Of the f r t & re . mtge. 32.000,000 are reserved to retire Johns
—
is
f
1915...... 1! 279 785
193,271
86,514.
45.485
41.029
R O A D __Owns 14 miles of track. Standard gaugo. 18 passenger cars. town Pass. Ry. 4s; the remainder ($1,000,000) reserved for future exten
sions. &c. Red. at 102 and int. S in k in g f u n d of 1% annually began Oct. 1
— V. 98, p. 1244; vT 101. p. 773; V . 103, p. 406, 666; V. 105. p. 1104.
1917. Of the Johnstown Pass. mtge. of 1901, entire issue may be called
at any time at 105 upon six weeks’ notice.
JACKSON, TENN.
E A R N I N G S . — For years ending Dec. 31:
S u r p lu s .
Y ear—
G ross.
N e t ( a ft . T a x . ) . B o n d I n t .
J A C K S O N R A I L W A Y & L I G H T CO.
O R G A N I Z A T I O N . — Incorporated In Tennessee In July 1900, and I suc 1917... ............. $802,287
s
S122.686
S303.657
$180,971
cessor to the Jackson & Suburban Streot Railroad Co. F r a n c h is e s expire 1916................ 772,219
180,424
360,424
180,000
In 1963. Also owns a park of 15 acres. Does lighting and power business
R O A D , &C.— Owns and operates under perpetual charter and franchise
in addition to street railway.
the entire street railway system of Johnstown, Pa., and vicinity. Total
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
trackage, 43 miles.
___ _ „„
OFFICERS.— Pres., E. M . du Pont.— V. 97, p. 1823; V. 98. p. 155.
C o m m o n $450,000 ($100)--- ---Q-P
--------pfrat' mtge SOOO.OOO ($1 ,
000)1 1906
5 g J-J
494.000 Jan 1 1037
N o s f Redeem at l05_-c/Fidellty & Columbia Tr. Co., Louisville,Tr.
S tock a n d B o n d s . — $150,000 com. and $106,000 hds. are hold in treasury
E A R N I N G S . — For cal. year 1917, gross, $126,917; net, $45,530. in
1910 gross, $123,207; net, $56,634.
1 R O A D — Operates 7 Y* miles of track. 72 and 50-lb. T r i s
al.
OFFICERS.— Pros., 6 . E. Claggett: V.-P. & Gen. Mgr., S. S. Bush;
Sec Geo. W. Lewis; Tfeas., FIdolity& Columbia Trust Co., a l of Louis
l
ville, Ky.— V. 83. p . 95._______
______
JOLIET, ILL.
JOLIET & E A S T E R N T R A C T I O N CO,
O R G A N I Z A T I O N . — This company, incorp. In 1914 In Illi o s repre
ni,
sents the reorganized portion of the Joliet & Southern Trac. Co., operating
between Joliet and Chicago nelghts. This property was appraised by the
Illinois P. U. Comm., which authorized stocfc.to be Issued to the amount of
$269,000 and additional $31,000 for cash received. There i outstanding
s
$300,000 capital stock. N o bonds.
„„„„„„ ,
E a r n in g s . — For year end. June 30 1917, gross, $66,055; In 1915-16,
JACKSONVILLE, FLA.
gross, $60,327.
lACKSONVII.I.E T R A C T I O N CO.— Trolley.
R O A D . — Total length of a l track, 25 miles, extending from Joliet to
l
O R G A N I Z A T I O N . — I a re-lncorporatlon In Mass. In March 1911 (V.92,
s
al
d 881) of tho Jacksonville Elec. Co., which was a consolidation of the Jack Chicago Heights. 60-lb. T r i ; standard gauge.
OFFICERS.— Pres., Joy Morton, Chic.; V.-P., Robt. T. Kelly. Joliet;
sonville St Ry. Co., tho Main St. RR. Co. and the Jacksonville Elec. Lt.Co. Sec., E. I . Stoarns, Chic.; Treas.. Daniel Peterkin, Chic.; Gen. Mgr..
I
Stock of old company was exchanged, share for share, for stock of now comoanv
Itailwav fr a n c h is e expires in 1932. Does entire electric railway bus F. C. Eckmann, Joliet.— V. 99, p. 1832.
iness in Jacksonville. $350,000 com. stock I held by Pub. Serv. Invest. Co.
s
A U R O R A P L A I N F I E L D & J OLIET RY.
m
i
t
On Feb 2,8 1914 shareholders authorized $500,000 additional pref. and
This i the division of the former Joliet & Southern Traction, extending
s
$500 000 additional common, making $1,000,000 prof, and $1,500,000
from Joliet to Aurora, 20 miles, and 2 miles of track in Joliet, purchased by
common. V. 98, p 763, 690, 611.
the bondholders’ committee at foreclosure sale In Feb. 1914. It i being
s
O u ts ta n d in g .
M a tu r ity .
In terest.
D a te .
STOCK A N D BONDS—
operated for the benefit of the bondholders. For the division of the old
$1,000,000
See text Joliet’ & Southorn Trac. Co., extending from Joliet to Chicago Heights,
C o m m o n $1,500,000 ($100)----6 Q-F
500.000
See text
Prof 6 % cum 3 1 ,
000,000(3100) - - - 5 M-3
841.000 Mar. 1 1931 see Joliot & Eastern Traction Co. above. Pres., F. K. Shrader. Chicago;
t
F,(l 0 an!l W o o )
5 Con
c*tf Int. at State Street Trust Co.. Boston: Trus. Gen. Mgr., I . A. Moore.
B L O O M I N G T O N P O N T I A C & J OLIET ELEC. R Y — A trolley road.
Jacksonv Elec 1st M ‘ (as-} 1902
5 g M-N
1.245.000 M a y 1 1927
Burned) g . . l d ( S l ,
000)c*.ntf fInt- at American Trust Co Poston, Trustee.
O R G A N I Z A T I O N . — Incorporated In 1903. Private right of way except
2-year coupon notes $1,000.-1 1917
6 M-S
7 )0,()00 Mar 1 1919 In c t e , whero f r a n c h is e s run 50 years.
,
iis
000 g ($500 & $1 .000) c*\ Int. at State St. Trust Co.. Boston, Trustee
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
V"of/1 -no vihlfl T p| * Q 10 IS _ ____
? a )
—————————
1 71),000 ———————_—_
Stock $2,500,000 ($100)
$95,500 ---------
Stock — $100 000 common stock not reported outstanding hold In treasury.
5 g M-S
300.300 Sept 1 1935
B o n d s . Of the ls^Smsol. bonds. 81.245.000 are reserved to retire Jack First mortgage $2,500,000 g\ 1905
—
($100. $500 and $1 ,
000).. [Int. at Cont. & Comm. Tr. & S. B., Chic..Tr.
sonville Elec. 1st M. anti $2,905,000 are for additions and Improve
Int. on bonds i guar, from Mar. 1 1916 by the Pub. Serv. Co. of Nor. I l
s
l
ments at 80% of cost. Subject to mil on any int. da o as a whole or in part
for s in k in g f u n d at 105 and Int. Future issuos of these bonds m a y bear
E A R N I N G S . — For year ending Dec. 31 1916, gross, $25,756; net (after
Interest at a lower rate than 5 % i so determined by tho directors. S in k in g taxes of $1,680), loss. $1,201. In 1915, gross, $24,441; net, (after taxes
f
f u n d . 1 % per annum of bonds out began Mar. 1 1917. V. 9-, p. 1564.
of $1,698), l ss, $61.
o
„
$9,000 In sinking fund cancelled. Jacksonville Electric Company bonds
OFFICERS.— Pres., Frank J. Baker; V.-P.. Chas. A. Munroe: Sec.are subject to call as a whole at 10o
^Rorcst on any Paui D. Sexton; Treas.. John H. Gullck. a l of 72 W. Adams St., Chicago.
l
Interest date. A s in k in g fu n d of 1% annually of bonds out commenced I I Offico at Pontiac, 1 1 — V. 85. p. 1004: V. 90. p. 235; V. 96, p. 651.
I.
1.
M a y 1 1907, which may 6e used for extensions and Improvements or In
purchaso of bonds. $5,000 bonds have been canceled, iho coupon notes
are callable as a whole at 100 and Interest on 30 days notice.
KANSAS CITY, KAN.
D iv id e n d s . — Paid 1'A % quar. on pref. to M a y
*6, id % i%
pa
and same rate quar. to and incl. Nov. 1916. Pel). 1J17 div. passed. ( .104,
A
K A N S A S CITY, K A W V A L L E Y & W E S T E R N R A I L W A Y .
p. 361). None since. On old E le c tr ic Co. com. 6 % ann. from Aug. 1 1905 to
O R G A N I Z A T I O N . — Incorp. in Kansas July 28 1909. Tho lino between
Aug. 1 1910, when rate was increased to 7 % and same amount paid to Kansas City and Bonner Springs was placed in operation July 20 1914, and
Feb. 1911. On new T r a c tio n Co. com. I i i l div.— IK % — paid 1n M a y
nta
from Bonner Springs to Lawrence, Kan., on June 1 1916; total miles track
1911; samo rate quar. to and including Nov. 1914. None since.
operated. 42.314. Gauge, 4 f . 8 >$ I . 70-Ib. T r i . 7 passenger cars;
t
n;
al
2 electric locomotives; 2 express and baggage, 8 box and 14 dump cars.
E A R N I N G S . — For 12 inos. ending Dec. 31:
Tho road as projected will extend to Topeka, 26 miles beyond Lawrence.
Y ear—
G ross.
N e t ( a ft . T a x .)
I n te r e s t.
S k .. < c , h d s .
%.
S u r p lu s .
s
$228,411
$167,945
$20,950
839,516 Connection I mado with tho street railway system of Kansas City. Direct
1017-.....$698,123
.
1916
027 194
203 486
164,374
19,533
19,579 freight connection at Kansas City with C. R. I & P. Ry., K. C.-S. Ry.
and 1 . C. Terminal Ry. At Bonner Springs with N. P. RR. and A. T.
C
'R O A D . — Operates 57.73 miles of equivalent single track. Has 118 cars
& S. F. RR. F r a n c h is e in Lawrence extends to 1946.
Gaugo 5 feet. Power plant capacity. 2,400 k. w.
K a n s a s C ity I n te r u r b a n F r e ig h t T e r m in a l. — See Kan. City Clay County
OFFICERS.— Pres., Geo. J. Baldwin, N o w York. V.-Ps., Chas. F.
Wallace and Harry I . Hunt; Treas., Ilonry B. Sawyer; Clerk., Alvah K. & St. Joseph Ry. below.
I
Todd: Mgr., Hardy Groom, Jacksonville, Fla,; Gen. Mgrs., Stone & W e b
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
ster Mgt. Assn., Boston.— V. 102, p. 1625; V. 104, p. 361, 952, 1702.
.......
Stock, $1,500,000 ($100)..................
$682,500
1st M $2,500,000 gold ($100)] 1914 6 g F-A
780.000
Aug 11924
$500 and $1.000)---C*tf lint, at First Tr. & Sav. Bk.. Chicago. Trust.
JAMESTOWN, N. Y.
General mtge, $812,500 gold] 1914 6 g F-A
487,500
Aug 11924
J A M E S T O W N S T R E E T R A IL W A Y . — Trolley.
(Int. at Com. Tr. Co.. Kan. City, Mo., Trus.
B o n d s . — Tho Issuance of f rst intgo. bonds for the construction of ths
i
O R G A N I Z A T I O N . — Incorporated Oct. 18 1883. Franchise runs t l 1982.
il
road i limited to $20,000 por mllo; additional bouds may only be Issued
s
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
for 9 0% of cost of Improvements, betterments, additions and extensions,
n tsw u
non inar $501
_
$250,000 ________
l
First mortgago 5300,000 "gold! 1893
6 g J-J m
300.000 Jan 2 1923 under conservative restrictions. Rod., a l or part, at 101 and Int. on any
;*/Int. at Guaranty Trust Co., N. Y., Trustee. Int. date on 60 days’ notice. Tho gen. mtg. bonds are limited to $12,500
($1 .
000) .....
-,c
por mile; callable at 101 and int. V, 102, p. 1625; V. 104, p. 452,
1,583,352 ........
Current l a
i bilities Dec. 31 1917__
56
ELECTRIC RAILWAYS
E A R N I N G S . — For years ending June 30:
Y ear—
G ro s s .
E xn . A T a xes.
N et.
In terest.
S u r p lu s .
1916-17--- $208,864
$129,352
$79,512
$71,313
$8,196
1915-16___ 74,019
40,769
33,750
19,200
14,550
1914-15 --- 50,269
23,987
26,282
8,000
18.282
OFFICERS.— Pros., K. D. Klomm, Kansas City, Mo.; V.-P., & Gen.
Mgr., W. R. Taylor, Bonner Springs, Kan.; Sec. & Treas.. E. S. Bigelow:
Aud., L. H. Darrow. Office, First Nat. Bank Bldg., Kansas City, Mo.—
V. 102, p. 1625, 2166; V. 104. p. 361, 452, 2343; V. 105, p. 2184.
[Vol. 106
P R O P E R T Y . — Over 305 miles of single track equivalent, about 75%
aved; remainder on bridges
power houses, comS capacity 60,000 k. w., or private right-of-way: 2motor cars and trail
inod
and 9 sub-stations; 746
ers in addition to work cars.
D I R E C T O R S A N D OFFICERS.— Representing tho company: Robort
J. Dunham (Chairman), Chicago; Philip J. Koaly (Pros.), James E. Gibson
(Gen. Mgr.), Clyde Taylor (V.-Pres. Sc Gon’ Counsel), Charles \V.
l
Armour and Goorge S. Hovoy, a of Kansas City, Mo. Representing
ll
tho city: William T. Kemper, Frank O. Niles, Davis M . Pinkerton, John
W. Wagner and John I . Wiles, a l of Kansas City, Mo. J. A. Harder I
I
l
s
Sec. & Treas.— V. 105, p. 1993, 2272, 2365, 2543; V. 106, p. 1035, 1577.
KANSAS CITY, MO.
KANSAS C IT Y LIQHT & POWER CO.
O R G A N I Z A T I O N . — Incorp. Jan. 3 1916 and In Fob. 1916 took ove r
O R G A N I Z A T I O N . — Organized under Missouri laws June 6 1914 and tho lighting and heating properties of tho Kansas City Ry. Sc Lt. Co. a*
on Feb. 15 1916 took over the properties of the Metropolitan Street Ry., per reorganization plan. See V. 101, p. 614, 689, 1628. Lighting fran
Kansas City Elevated Ry. and Kansas City & Westport Belt Ry. In ac chises aro perpetual.
cordance with tho plan of reorganization of the Kansas City Ry. & Light
Tho co. has contracted with the General Electric Co. for two 25,000 k.w.
Co. in V. 101, p. 614, 689. 1628. Owns and operates entire street ra l
i enorator units as the f r t unit for installation in a now power house
is
way system serving Kansas City and Independence, Mo., Kansas City and
esignod for an ultimate capacity of 240,000 k. w. to cost, including equip
Rosedale, Kan., and Jackson County, Mo.; population served, over 400,000. ment, $10,000,000. In Oct. 1917 tho company purchased a 25-acro site
F r a n c h is e O r d in a n c e , A c . The exclusive 30-year franchise granted on the Missouri River for tho purposo.— V. 105, p. 1526, 1713.
—
Delivery
by Kansas City July 7 1914 flxod tho capital value of tho property In of the generators i expected in June 1918. Tho co. has been purchasing
s
Missouri at $25,648,806. plus capital additions aftor June 1 1913. (Val i s power from the Kansas City Rys., but as tho latter’ plants aro over
t
s
uation placed on properties in Missouri and Kansas as of June 30 1917, loaded i i proceeding to construct a power plant of i s own.
t s
t
$34,174,223). On the Missouri capital value, $28,797,033, the company
STOCK A N D
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
receives 6 % cumulative, any balance of Missouri earnings, after the appli 8toclc (soo text,) B O N D S . —
cation of $6,148,807 of surplus earnings to additions and extensions, to be First mtgo red at 103 and Int
1915
5 J-J
$3,060,000 July 7 1944
credited two-thirds to the city and one-third to tho company. Tho city
having no interest In Kansas earnings, the incomo from operation of the 2d mtgo $1,917,300 red at par Cont. Sc Com. Tr. & Sav. Bk., Chic., trustee.
1915
6 J-J
1,917,300 July 7 1944
Kansas property bolongs entirely to the company. Not loss than 16%
and interest___________ Central Trust Co., N o w York, Trustoo.
of gross earnings must bo applied to malnt., renewals, deprec’ Ac., and
n,
S lo ck . — Was incorp. with $2,000 nominal capital stock, but in Jan. 1917
not less than 4 % to damage claims. Faros (unless reduced at expense of
t
city’ share of surplus income) are fixed at 5 cents for adults and 2 H cents was ordered by the P. S. Comm, to increase i s stock to $4,977,300 to con
s
for children between 8 and 12. The city has the right to purchaso the form with tho amount of 1st and 2d mtgo. bonds approved in Fob. 1916.
property in Missouri at or before the end of the 30-year period on tho basis On March 16 1918 the co. increased tho auth. amount of stock to $10,000,
of aforesaid valuation and subsequent additions Operation of the proper 000, of which $5,000,000 I f l paid ($2,500,000 oach of common and 5 %
s ul
ties to bo under tho supervision of a Board of Control, consisting of Philip preferred). Par, $100. The capital stock i represented by 31,810.3
s
J. Healy for the Railways Co. and Robert P. Woods for the city. City also common and 31,358.3 preferred participating certificates of no par
nominates 5 of tho 11 directors. See franchise ordinance in detail in V. 99, valuo. John H. Lucas, T. J. Connors and Oscar Fenloy aro tho
trustee* for the stock. I I provided that whenover a corporation can be
t s
p. 196, and also V. 99, p. 119.
S tr ik e s . — Tho strike which began on Aug. 8 1917 was settled on Aug. 17 lawfully formed with pref. and com. shares of no specified par valuo with
t
1917. Tho company agreed to recognize tho right of i s employees to bo authority to take over the stock of anothor corporation, as I s assots. the
t
t
members of any labor organization they see f t but will continue to operate trusteed shall cause one to be organized and shall turn o ver to i tho stock
i,
on an “open shop" basLs. Arbitration i to bo rasorted to in tho ovent of In their custody, the beneficial certificates to bo canceled and roplacod by
s
failure to roach an agreement on questions of wages and working conditions. prof, and com. shares.
On Mar. 28 1918 tho co. was again forced to suspend operation because of
B o n d s . — Additional 1st M . bonds may be lssuod, with Int. to bo deter
a general syinpathet’ strike, which tho cannon joined. The striko came mined at time of Issue, not to oxceod 8 %, for oxts., add’ Sc iinpts., on a
c
ns
to an end April 2 1918, the men returning to work under old contracts.
fixed basis. A sinking fund on tho 2d M. bonds of $38,346 por ann. from
W a g e I n c r e a s e . — V. 105, p. 2272.
aet earnings otherwise available for divs., which began Jan. 1 1916, I ex
s
F a r e s . — In Feb. 1918 applied to tho Mo. P. S. Com m , for auth. to in pected to retire issue by maturity. 885,100 in sinking fund.
crease fares. V. 106, p. 1577.
D iv id e n d s . — An i i i l div. of $2.50 upon oach prof, participating cortlflnta
In Dec. 1917 issued $1,000,000 6 % 2-year c l , notes for expenditures
ol
cato was paid Oct. 2 1916. Same amount s.-a. (A. & O.) sinco to and
already made or to be made for improvements, extensions. & c .
n
In Feb. 1918 tho Mo. P. 8 .Com m . auth. the co. to issue 81,151,830 addi i cl. April 1 1918.
tional capital stock (not incl. in amount reported outstanding), represent
E A R N I N G S . — Gross oarnings, year end. M a y 31 1917. $3,392,825; 1916
ing improvements mado since M a y 1 1915; also to refund the notes duo 82,849,640; 1915, $2,513,424; 1913-14, $2,408,736; 1912-13, $2,156,952.
July 1 1918 with 2-year 6 % gold notes.
OFFICERS.— Pres., Joseph F. Porter, Davenport, la ; Sec. & Treas.,
.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
R. J. Clark.— V. 104, p, 1804; V.,105. p. 1214, 1526, 1713; V. 106, p. 825,
Capital stock_____________ ____
A-O
See text
See text.
1581.
Notes $6,259,000......... /1915
5 H J-J
$6,259,000 July 1 1918
\Oid Colony Trust Co.. Boston, trustee.
K A N S A S CI T Y C L A Y C O U N T Y & ST. J O S E P H R A I L W A Y CO.
1915
5 g J-J
15.917,400 July 7 1944
1st mtge gold..c*&r*cpt
On July 5 1915 tho Interstate Ry. Co. was awarded a verdict for $1,500,
2d M ($5,291,000) Seres A../ 1915
6 J-J
4,291,000 July 7 1944
000 against tho company and the estate of George Townsend by a jury in
do
do
Series B..{ 1915
5 J-J
1,000,000 July 7 1944
tho Circuit Court in i s suit alleging that tho defendant company had
t
Redeemable at 103 and int. [Now York Trust Co., N. Y., trustee.
t
Coll gold notes Ser " A ” ($100,1 1917
6 g J-D
1,000,000 Dec 11919 built i s line between Kansas City and St. Joseph on a part of the right-of$500 and 81,0001___ c*.tf/Continental Tr. Sc S. Bk., Chicago, trustee. way obtained by tho plaintiff (V. 100, p. 130, 288). Caso reversed under
’
Deferred injury & dam'ge ctfs. 1915
See text
700,713 July 1 1944 stipulated agreement of settlement.
Stock.— Tho capital stock, fully paid up, i in the nominal sum of $100,000
s
O R G A N I Z A T I O N . — Incorp. in Missouri in 1911 under a 200-yoar charand i represented by 62,716.7 preferred and 63,620.5 common parts of no to . In Jan. 1913 tho lino from Kansas City to Excelsior Springs, Mo., was
s
r
par value. Trustees for the stock are Robert J. Dunham, Charles W. opened, and on M a y 5 1913 opened for operation i s line botween Kansas
t
Armour and Charles N. Black. I i provided that whonever a corporation City and St. Joseph, 5244 miles. V. 96, p. 1423. Also handles freight.
t s
can bo lawfully formed with prof, and com. shares of no specified par value,
In Dec. 1914 terminal service was begun to Kansas City for the Quincy
with authority to take over the stock of another corporation as i s assets, Omaha & Kan. City RR. (O. B. Sc Q. system). See details in V. 99. p. 1910.
t
tho trustees shall cause one to be organized and shall turn over to i the stock
t
V a lu a tio n . — On Oct. 24 1917 filed a request with tho Mo. P. S. Ootnrn.
in their custody, tho boneficial certificates to be canceled and replaced by for an addition of about $3,000,000 to i s valuation of $3,900,000 fixed
t
pref. and com. shares.
3 years previous by the Commission. Tho co. askod that a proper amount
N o t e s . — The 3-year notes are secured by $6,885,000 1st M . 5 % bonds. be flxod for going value and for an additional amount for working capital,
To refund these notes, provision has been mado for tho Issuance of sufficient Ac.— V. 105„ p. 1898.
2-yoar notes. Tho 2-yoar c l , notes outstanding aro secured by $1,219,600
ol
C o m m u ta tio n R a te s O rd er e d . — The Missouri P. S. C o mm, on Dec. 7 1914
6 % 1st M . bonds. Additional notes may bo issued only upon pledge of addi
tional bonds in same ratio, or, at option of co., upon pledge of 1st M. 5s in izoued an order requiring tho company to issue commutation tickets begi nequivalent ratio. The auth. amount I largo enough for refunding tho 3-yr. ulng Jan. 1 1915 between Kansas City and Liberty, 14.4 miles, on the Excel
s
notes duo July 1 1918. Red., a l or part upon 30 days’notice at 100H and sior Springs Division, and to a distance of about 10 miles on tho St. Joseph
l
int. before Juno 1 1919, and 100 and i t thereafter. Int. payable in N. Y. Division. On Dec. 29 1914. howover. Judge Van Valkonburgh in tho U. 3.
n.
or Chicago without deduction of normal Federal incomo tax of 2%. V. 105, District Court granted a temporary order preventing the Commission from
putting tho new rates In effect. V. 100, p. 140.
p. 2543.
F ir s t M o r tg a g e B o n d s . — Of the 1st M . bonds outstanding, $10,150,200
F r e ig h t T e r m in a l. — Tho Kansas City Freight Terminal Co. was incorp.
were Issued under plan in retirement of securities of predecessor cos., ami In Feb. 1917 to provldo f
acilities In tho city for handling intorurban freight
$5,767,200 to provldo for receiver’ cortfs., cash requirements of reorgani and oxpross matter. Stock auth. and issued, $100,000; bonds auth,,
s
zation, for retirement of tho company's 3-year notes and for improvements. $100,000, of which $75,000 outstanding. Tho stock of tho co. i owned by
s
$6,885,000 1st M. 5 % bonds are pledged as security for the 3-year notes Interests associated with the Kansas City Clay County & St. Josoph Ry.
and $1,219,600 1st M . 6 % bonds for tho 2-year notes. Additional and tho Kansas City K a w Valley & Western Ry. Thoso cos. and tho Kanbonds may bo Issued for new construction, additions, extensions, &c. ( n aas City Western Ry. and the Kansas City Lawronco & Topeka Ry. havo
i
Missouri only on certificate of Board of Control), in tho ratio of $1,000 of entered into contracts for tho use of the terminal and havo guaranteed an
bonds for each 81,100 expended. Denominations: c* $1,000, S500, S100; annual tonnage of 31,000 tons. Tho terminal was oponed Oct. 10 1917.
r*, $1,000, $5,000 and S10,000. Interest payable in N e w York, Chicago J. R. Harrlgan i Pros." J. F. Holman, V.-Pros.; E. S. Bigelow, 8oc. &
s
or Kansas City. Callable as a whole or part at 103 and int. on any in . Treas.— V. 105, p. 2184.
t
date on 60 days’notice. Trustee, Cont. & C o m m . Trust & Savings Bank.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
Chicago. Seo V. 102, p. 2254.
Stock com $10,000,000 ($100)........... .
$4,000,000
Seo text
S econ d M o r tg a g e B o n d s . — A sinking fund of $105,820 per annum, which
1 mtgo $10,000,000 (51,-7 1911
st
5 g M-S
3.135,000 Sept 1 1941
began Jan. 1 1916, i expected to retire issue by maturity. $223,867 in
s
000 gold s f rod at 105 after! Equitable Tr. Co., N. Y., and J. F. Downfund Doc, 31 1917 and $49,650 in treasury.
Sept. 1 1915_______c*tf( Ing, Kan. City, Trus. Int. payablo N. Y.
D e fe r r e d I n j u r y a n d D a m a g e C e r tific a te s . — Issued at par in exchange for
B o n d s. — Of tho escrow bonds, $365,000 m ay bo Issued for 80% of tho cost
a l approved claims inferior to old bonds but superior to tho stock, for
l
af permanent additions and extensions. Tho remainder can only be i
s
which no other provision was made in plan. Callable at par. Bear 6 %
Interest, cumulative, payable only out of net earnings. Not a lien on physi sued for 80% of the cost of permanent additions and extensions, under
cal property, but status, as against owners of the stock, i substantially conservative restrictions. S in k in g f u n d of 1y i % of bonds certified, began
s
Sept. 1 1917.
similar to that of a preferred stock.
D iv i d e n d s . — In 1914, 2 H % paid: 1915. June, 1J£%.
In 1916.4)4%.
D iv id e n d s . — An i i i l dividend of $2 50 on the pref. beneficial certificates
nta
was paid Oct. 1 1916. In 1917, April, $2 50; Oct., $2 50. April 1918 In 1917, Juno, 1J4%. No later information.
dividend omitted. (V. 106, p. 1577.)
E A R N I N G S . — For years ending Doc. 31 1916, gross, $717,925; not,
after taxes, $355,914; Int., &c., $157,644: div., $165,000; surplus, $33,270.
R E P O R T . — For year ending June 30 1917 in V. 105, p. 1993.
In 1915, gross, $643,238; not, after taxos, $291,916; int., $153,950; dlvs.
- Y e a r s e n d in g J u n e 30- J u ly 8 '14 to
paid, 555.000; surplus, $82,966.
1917.
J u n e 30 T5.
1916.
Revenue passengers carried______ 137,394,143 131,075,084
R O A D — Operates 52.55 miles botween Kansas City and St. Josoph,
Transfer passengers____________ . 69,516,515 67.342,528 65.717,735 Mo., and 28.24 miles between Kansas City and Excelsior Springs, Mo.,
. $7,408,019 $7,056,504 86,617,794 total 77.61 miles. 70 and 80-lb. T-rail; standard gaugo. Passenger
. $2,886,084 $2,813,236 S2,504.780 equipment, 20 cars, 5 exp. motor cars, 5 oxpross trailers, 10 otlior cars and
Net. after taxes_____
2,108,276 1 American oloctric ditcher, 1 electric locomotivo.
. 2,412,934
2,378,750
Miscellaneous incomo.
9,161
.
36,484
15,249
OFFICERS.— Chairman of Bd., Alton G. Iloyt; Pros., Philip L. Saltontl,
t
Gross income_________________ . $2,449,419 $2,393,999 S2,117,437 s a l Boston, Mass.; V.-P. & Gen. Mgr., J. I . Ilarrigan; Sec. & Treas..
W. S. Tuloy.— V. 104, p. 1702; V. 105, p. 1898, 2184; V. 106, p. 607.
Int. on Mo. injury & damage certifs..
.
34,342
KANSAS C IT Y R A IL W A Y S .
S
$2,415,076
411,302
$2,393,999
506,316
$2,117,437
305.703
$2,003,774
$1,887,682
$1,811,733
SI,652,722
320.599
30,453
$1,626,450
t257,382
3,851
$1,547,654
262,335
1.745
Company’ gross income_______ $2,003,774 $1,887,683
s
Bond Interest_______ $1,442,568 $1,269,724
Kansas injuries and damages (paid
in cash)_______________
16.864
19,996
Other deductions.. ..... .
13.600
2,193
$1,811,733
$1,459,741
City’ share.
s
Company’ share______
s
C o m p a n y 's I n c o m e —
Net from Missouri propertie*
Net from Kansas properties.
Miscellaneous___________
> d u c tio n s —
e
38,034
12,702
Net income..................
$530,741 . $595,770
$301,255
Tho total profit and loss surplus June 30 1917, after deducting $400,000
dividends paid and $112,944 appropriated for sinking fund, was $191,844.
KANSAS CITY-W ESTERN RAILW AY.— A trolley road.
Formerly the Kansas-Clty-Leavenworth Railroad and name changed to
Kansas City-Western Ry. Has long-time f r a n c h is e s In territory served.
F r e ig h t T e r m in a l. — See K. C., Clay County Sc St. Joseph Ry. abovo.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $2,000,000 ($100)..................................
$2,000,000 ................
Vet ref mtge $5,000,000 goldf 1905
5 g M-S
1,650,000 Sept 1 1925
(coup $1,000, r $1,000,{Interest at Guaranty Trust Co, N e w York,
55.000. $10.000)..... tfl Trustee.
S tock a n d B o n d s . — $1,400,000 of bonds were Issued to refund a liko amount
of bonds outstanding of old company, a l but $42,000 of which havo boon
l
retired, $100,000 for general corporate purposos and $150,000 for improve
ments; remaining $3,350,000 to bo issued for acquisitions, extensions and
Improvements under customary restrictions. Enttro outstanding Issue i
s
red. on any int. date at 105 and Int. V. 89. p. 1483.
R E P O R T . — For year onding Juno 30 1916, not, after taxos, $55,620; int.
on bonds, &c., $82,712; deficit, $27,092.
Ma y , 1918]
ELECTRIC RAILWAYS
57
R O A D . — Owns and operates 43.75 miles of road, of which about 18 miles
F r a n c h is e s . — The electric railway and elec, lighting franchises In Keokuk
are within the city of Leavenworth and 25J<£ miles between Ft. Leavenworth •xplre In 1936. tho gas franchise in 1928. The electric lighting franchise
and Kansas City, Kan. Enters Kansas City, Mo., over tracks of the Kansas In Hamilton expires In 1936; the Important railway franchise In 1931.
City Viaduct & Terminal Ry., which owns and operates a steel and con Tho electric lighting franchises In Fort Madison and Dallas City expire
crete viaduct qpnnectlng Kansas City, Kan., with Kansas City, Mo. Has
second entrance Into Kansas City over tracks of the Metropolitan Street R y .
OFFICERS.— O. F. Holmes. Pres.; O. F. Hutchings, V.-P. and Gen. At
torney; 8. D. Hutchings. Sec. and Treas.; J. G. Herrlon. Supt.; W . M .
Bonar. Aud. General office. Leavenworth. Kan.— V. 90. p. 110, 3»8.
Y ear.
G ross.
N e t ( a f t . T a x ) . I n t e r e s t . S i n k .F u n d .
S u r p lu s .
1917........ ..$311,630
$90,671
$22,522
$5,000
$63,149
MISS O U R I & K A N S A S I N T E R U R B . RY.— Known as “Strang Line." 1916--------- 294,893
96,899
18,827
5,000
73,072
O R G A N I Z A T I O N . — Incorporated in Kansas under Gen. RR. law. In
D iv i d e n d s . — An Initial dividend of 1 K % was paid on the pref. stock In
1909 receiver appointed the previous year was discharged, and old company
resumed oontrol. V. 86, p. 1467; V. 89, p. 1281. Motivo power changed March 1914: same rate quar. since to and incl. Sept. 1 9 1 7 . None since.
from Strang gasoline cars to eloctrlclty In 1908. V. 87, p. 614. Has private
R O A D . — Miles of equivalent single track, 7.99; trackage, 6.14: standard
right of way about* 80 feet wide from Kansas City to Olathe.
gunge; cars, 20 passenger and 1 other. All power i purchased from the
s
Mississippi River Power Co.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
OFFICERS.— Pres., Geo. HIgginson, Jr.; V.-P., Harry T. Edgar; Sec.,
Stock 31.000,000 ($100)..................
$1,000,000 ..... ...
1.
First mortgago 3600.000 gold! 1906
5 g J-J
600.000 Jan 1 1956 Joseph L. Valentine, Chicago, 1 1 ; Treas., H. B. Sawyer; Asst. Sec.. Alvah
K. Todd; Gen. Mgrs., Stone & Webster Mgt. Assn.— V. 98, p. 72, 610.
(51,000)_____________ c/Fldelity Trust Co., Kansas City, Trustee.
E A R N I N G S . — For cal. year 1916, gross. $115,049; net. $37,745.
In
(1) Keokuk Electric Co.
1915, gross. $103,129; net, $38,721.
R O A D . — Operates 20 miles of road from Kansas City through SouthO R G A N I Z A T I O N . — Incorp. In I I on Dec. 5 1911 as successor to the
I.
ridge. Morrison Ridge, Milbum Place, Overland Park and Lenexa to Olathe. Keokuk Elec. Ry. & Pow. Co.; Keokuk Gas & Elec. Co.; Hamilton Lt.
Enters Kansas City over tracks of the Kansas City Rys. 70-lb. r i s A Power Co. and Keokuk & Western Elec. Co., control of which was
al.
Has 13 cars, including passenger and freight. Construction of a line from purchased in 1911 by Stone & Webster Mgt. Assn. Does the entire electric
Olathe to Ottawa, 26 miles, i under consideration.
s
railway, electric lighting, power and gas business in Keokuk, la.; tho entire
OFFICERS.— Pres., W . B. Strang; V.-P., H. O. Brent; Sec. & Treas., electric railway and electric lighting business in Hamilton and Warsaw, 111.,
E. N. Daniels; Gon. Mgr., Thos. Riley. General offices, Overland Park, and operates an interurban electric railway between Keokuk, Hamilton and
Kansas.— V. 87, p. 614; V. 89. p. 12 8 1.
______
Warsaw (largely on leased lin s .
e)
F r a n c h is e s . — See Cent. Miss. Valley Elec. Properties above.
KENNEBUNK, ME.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
Q-F
$650,000 N o v ’
17, \ \ i
C o m m o n $650,000 ($100).......
ATLANTIC S H O R E RAILWAY.
Q-F
250.000 M a y ’
18. 1 >4
O R G A N I Z A T I O N . — Incorporated In Maine on Jan. 1 1911 (per plan la Pref $250,000 ($100) 6 % c u m .....
5 J-J
165,000
See text
V. 91. p. 869) as auoewwor to the Atlantic Shore Line Ry. (sold at fore Keokuk El Rv & Pow 1st M l 1901
$250,000 (closed mtge).ntf iCent. Trust Co. and H.E. Ambler. Trustees.
closure Dec. 1 1910). which company was a consolidation In April 1906 of
6%
150,000
1923
the old Atlantic Shore Line Ry. and the Portsmouth Dover A York Street 5-yoar notes $150,000-...... 1918
c
________
140,500 ________
Ry. The former company in April 1904 purchased tho Sanford A Gape Notes payable Fob. 28 1918--___
S to c k . — C o m m o n stock I a l owned by Cent. Miss. Vail. Elec. Properties.
s l
Porpoise Ry., the Mousam River RR. and the Sanford Power Co. In Juno
s
ios
1909 tho Alfrod Light & Power Co. was acquired. Does a freight bualnoHs. Pref. stock I red. at 110. Both classes of stock are tax-free in Ill n i .
B o n d s . — The Keokuk Elec. Ry. & Power f r t mtge. 5s are due serially
is
Second & Gen. M. bonds were Issued at 80 with 100% stock bonus.
D e f a u l t . The initial obligatory ooupon, due Oct. 1 1915, on Mis $641,750 1918 to 1925. Red. any int. day at 105 and lnt. $85,000 canceled. The
—
4 % ref. M . bonds was defaulted. V. 101. p. 1464. All other coupons notes were issued to pay off $150,000 Keokuk Gas Lt. & Coke 1st M. 5s
duo Jan. 15 1918.
due on and after Oct, 1 1916 are also In default.
D iv id e n d s . — Divs. on pref. have been paid since organization. Initial
R e c e iv e r s . — Pres. F. O. Conant and Treas. Constant South worth, both
of Portland, were appointed receivers by tho U. 8. Circuit Court, Portland. dlv. on com.— 2 % — paid In Feb. 1914; May. H i % : Aug.. 2 % (V.99 .p.467);
Nov.. 2%. In 1915 and 1916. 6 %. In 1917, 5%. None since.
V. 101, p. 1552.
E A R N I N G S . — For years ending Dec. 31:
P o r ts m o u th D o v e r & Y o r k S t. R y . — On M a y 1 1917 W . G. Meloon, Ports
Y ear—
G ross.
N e t { a f t . T a x . ) I n t e r e s t . S i n k .F u n d .
S u r p lu s .
mouth, N. II , was appointed separate receiver and manager of this co.
.
The property comprises 42 m. of track connecting Portsmouth and lottery 1917.......... $248,546
$72,762
$21,991
$5,000
$45,771
with Dover and South Berwick, including a line to York Beach.
1916---------- 240,181
79,326
18,625
5,000
55,701
R O A D , &c.— See Central Miss. Valley El. Properties above.
On Aug. 18 1917 was auth. by the Maine P. U. C o m m , to Increase the
number of it faro zones by three.
s
OFFICERS.— Pres., Harry T. Edgar: V.-P., Geo. HIgginson Jr.; Sec.,
Alvah K. Todd; Treas., Henry B. Sawyer: Gen. Mgrs., Stone & Webster
STOCK A N D B ONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $1,000,000 ($100).................... $1,000,000 .......... Mgt. Assn.— V. 97. p. 1583, 1898; V. 98, p. 73; V. 99, p. 467; V. 106, p. 396.
Gen lion M $150,000 red at) 1911
5 J-J
150.000 Jan. 1 1931
102 and Interest________ J
KEWANEE, ILL.
Refund mtgo $2,600.000.... 1910 See text
641.750 Jan. 11941
AtlSh Line 1stcons M$l,000.-/ 1904 5 g A-O
361.500April 1 1934
OALESBURQ & KEWANEE ELECTRIC RY.
OOOg ($500.$1,000) c*-cptllnt. at Columbia Tr. Co., N. Y.. trustee.
O R G A N I Z A T I O N . — Incorporated M a y 1902. Is a reorganization of
Atl Sh Lino 1st M $125,000 cpt 1904 5 J-J
120.000 Jan. 1 1924
Alf Lt & P 1st M $250,000/ 1905 5 g J-J,
260,000 July 1 1936 the Galesburg & Oneida Elec. Ry. Co.
The co. has applied for increases in fare from 5 cents cash fare and 25
($500 and $1.000)___ cpt/Int. at Columbia Tr. Co., N. Y., trustee.
tickets for $ 1 to 6 cents cash fare and 18 tickets for $ 1 on city linos, from
P o r ts m o u th D o v er & Y o r k S t. R y .— U n d e r S e p a ra te R e c e iv e r .
—
Sanf& Cape Porp'se 1st M.cpt 1898
5 J-J
246.000 Jan. 11928 5 to 7c. on Interurban lines and for increases In rates for round-trip tickets,
Mousam River 1st mortgage.. 1892
6 J-D
50,000
See text
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
P D & Y 1st M $650,000/ 1903
4 H J-D
450.000 Juno 1923 C o m m o n $200,000 ($100).................
$200,000 .........
gold ($1,000).......... \State Street Trust Co., Boston, trustee.
Pref $400,000 ($100) 6 % c u m ... ...........
110.800 ..... ...
F D ft Y 2d M and ext/ 1005
5 g J-D
57,000 April 1 1925 First mtge $400,000 ($500 &I 1906
5 g J-J
400.000 July 2 1920
$100,000______________ lint, at Augusta, Mo., Trust Co., trustee.
$1,000) gold------- c&r JInt.atCont. AOom.Tr.&Sav.Bk., Chic. ,Tr.
P K & Y St Ry 1st M $200,-/ 1897
6 g M-S
200.000 Mar. 1 1917
B o n d s . — Are red. on any lnt. day at par and lnt. N o 8.f
.
000 g ($500 and $1,000).-lint, at Waterville. Mo., Tr. Co., trustee.
E A R N I N G S . — For 12 mos. ending Dec. 31:
B o n d s . — Of the rofund. bonds, $1,893,500 (Inc. rate not to exceed 5 %
G ross.
N et.
D e p r e c 'n . I n t .& T a x e s .
D eficit.
are reserved to retire prior liens, $64,750 (lnt. rate 4%) are for lmpt3. and Y e a r —
$25,435
$12,000
$26,309
$12,874
additions and remaining $641,750 are outstanding and were exchanged for 1917.... ...... $81,415
27,243
12,000
21,836
9.593
securities of Atlantic Shore Line Ry. Outstanding bonds bear lnt. at 4 % , 1916......... . 76,114
R O A D . — Has city line in Kewanee and Wethersfield and Interurban
which was payabls for first 5 years only I earned. N o Interest was oarnod
f
on those bonds during that period. The i i i l obligatory coupon falling between Kewanee and Galva. Total track operated 14 miles. 70-80-lb.
nta
al.
t
n.
due Oct. 1 1915 was defaulted. V. 101, p. 1464. The Atlantic Shore T and girder r i s Gauge 4 f . 8 VS I
Line consols of 1904 are subject to call, a l or any part, after ten year*
l
OFFICERS.— Pres., W. I . Lyman; V.-P., J. K. Blish; Sec., F. M.
I
at 105, to be drawn by lot. See V. 78. p. 2383. The Alfred Light A Lay; Treas., J. H. Baethke; Gen. Mgr., R. H. Hayward.
Power bonds are subject to call at 105.
Mousan River bonds matured Dec. 1 1912, but have been extended.
KEYPORT, N. J.
P o r ts m o u th D o v e r & Y o r k S t. R y . — Tho bonds of 1903 can be called at
105 and lnt. The 2d 5s can be called at par on any lnt. date. The 6s of
JERSEY CENTRAL TRACTION CO.—Trolley.
1897 can be called at 105.
C o n tr o l. — The American Railways Co., which see under Philadelphia, Pa.,
R O A D . — Operates 37 miles of track, connecting Sprlngvale, Sanford. owns a l tho common stock.
l
West Kounobunk, Kennobunk, Konnobunkport and Capo Porpoise with
ORGA
N. A
1917
Jersey
Blddsford and Saco; thence over connecting Unas to Old Orchard and Port Central N I Z A T I OCo.— (seeconsolidation in M a y for M aof the o ldand the
Traction
“Electric Ry.” Sec.
y 1917)
land. Sec V. 81, p. 1549. A link from York Beach to Kennobunk, 16 Central Jersey Traction Co. (incorp. Feb. 1 1917 to lease the property and
miles, was put in operation July 21 1907. Total. 53 miles. Owns 2 franchises of tho Jersey Central Traction Co.). At tho same time the
water-power plants and 1 steam plant with generating capacity of 3,000 Middlesex & Monmouth Electric Light, Heat & Power Co., which was
k.w. Has 40 cars aud 2 electric locomotives. 60, 70 and 80-lb. r i .
al
controlled by the Traction Co. through ownership of 442 of the 500 shares
R E P O R T . — For calondar year:
of capital stock, was merged with and Into tho Monmouth Lighting Co.,
C a le n d a r
G ro s s
O p e ra tin g
N et
A ll
I n t e r e s t o n B a la n o v
whoso entlro $305,000 outstanding common stock I owned by the American
s
Y ear—
E a r n in g s . E x p e n s e s . E a r n in g s . T a x e s . B o n d s , A c . D e f i c i t .
Rys. Co., which In turn L controlled by the United National Utilities Co.
s
1917 ....... $231,757 $198,440 $33,317 $0,182 $92,595 $65,460 Tho Lighting Co. purchased the power house, transmission linos and sub
l
1910 __...... 351.216
291,379
59.837
7,741 117 106
65 010 stations formerly owned and operated by the Traction Co. and sel s power
to tho latter under contract.
1915
349,860 285,561 64.305
7.626 114.738
WLOS*
L a test E a r n in g s —
G ro s s .
E xp en ses.
N et.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Jan. 1 to April 1 1918---....-....
$32,130
$34,560 def.$2,430 C o m m o n $5,000,000 ($100)................
$531,400 .........
N o t e . — On M a y 1 1917 the Atlantic Shore Ry. was divided east and west Prof 6 % cum $600,000 ($100).....
6%
600,000
.......
of York Beach, Malno, the western end passing to the operating control of First mtgo gold $5,000,0001 1917
5 g M-S
800,000 Mar 1 1947
the Portsmouth Dover & York St. Ry. Tho figuros from M a y 1 1917 on,
($1,000).. ...... ... tf/Int. at C o m ’ Trust Co., Phila.. trustee.
l
are for the Atlantic Shore Ry. as at present constituted.
S to c k . — Preferred stock I redeemable at 105 three years after Issue.
s
OFFICERS.— Receivers, Frederick O. Conant and Constant Southworth:
B o n d s . — Guaranteed, p. & 1 , by the American Rys. Co. Callable in
.
Act. Gen. Mgr., S. T. Dow.— V. 101. p. 1464, 1552.
wholo or part after March 1 1922 at 102 VS* Additional bonds may be
Issued for additions, extensions, &c.
R E P O R T . — For calendar year 1916 (Incl. Middlesex & Monmouth El.
kennettT pa.
Lt., l t & Pow. Co.), gross. $347,138; net, after taxes. $144,834; lnt., &c.,
i.
W E S T C H E S T E R K E N N E T T & W 1 L M I N O T O N E L E C T R I C RY.
O R G A N I Z A T I O N . — Incorporated In Pennsylvania on M a y 24 1905. $98,819; surplus. $46,014.
and I a reorganization of a company of the same name sold under foreclosure
s
R O A D . — Owns and operates 36.03 miles of road from South Amboy,
in April 1905. On Fob. 26 1908 absorbed the formerly controlled Oxford Keyport and Belford to Red Bank; Belford through Atlantic Highlands to
West Grove A Avondale St. R y
See V. 86, p. 670.
Highland Beach; Freneau through Matawan to Keyport, N. J. Standard
gauge 00-lb. T and 70-lb. girder r i s Nearly a l over private right of way.
al.
l
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $925,000________ ____
______
$525,000 _________ 32 passenger cars, 29 freight cars and 1 snow-plow. An extension from
Prof ($75,000) 6 % non-cum......
-----75.000 .......... South Amboy through Mechanlcsvlllo and over the Raritan River Bridge
First mtgo $1,000,000 gold/ 1905
5 k J-D
420,000 June 1 1935 to Perth Amboy was completed in 1910.
($500 and $1,000)___ c tf/Int. at Lntog. T.I.Tr. & S.D. Co.,PhiIa.. Tr.
OFFICERS.— Pres., Van Horn Ely; V.-Pres., C. L. S. Tingley: Gen.
E A R N I N G S . — For voar ending Doc. 31 1917. grass. $65,971; not, aftor Mgr. & V.-Pres., I . J. Orowley; Sec. & Treas., Walter W. Perkins.—
I
taxes, $10,476. In 1916, gross, $67,051; net, after taxes. $18,910.
V. 1 - . p. 452. 1702, 2235: V. 105. p. 389, 1309.
01
R OAD. — About 20 milos of track between West Grove, Avondale, Kennett Square and Wilmington, connecting at Kennett for West Chester.
The extension from Avondale to Oxford, 1214 miles, has been completed as
KEY WEST, FLA.
far as West Grove and i in operation to that point. Gauge. 5 f . 2 \ i In.
s
t
K E Y W E S T E L E C T R I C CO.— A trolley road.
60 and 70-lb. T and girder r i .
al
O R G A N I Z A T I O N . — Incorporated In N e w Jersey In 1898 and does entire
OFFICERS.— Pres., Goo. Kessler, Phila.; V.-P.. Clarence L. Harper.
Phlla.; Sec. and Treas., Philip E. Guckos, Phila.; Gen. Mgr., l Baluss, •Joetrie railway and electric-light and power business of the city; also owns
l.
Kennett Squaro, Pa.— V. 91. p. 1575, 1631.1712; V.94. p.831; V.95. p. 1T7. f r a n c h is e s t o r manufacture of gas. F r a n c h is e expires 1997. In June 1906
was acquired by Stone & Webster of Boston and re-capltalizod as below.
V. 82, p. 1496. Public Service Investment Co. owns $374,100 commoo
stock and $222,000 preferred stock.
KEOKUK, IA.
C E N T R A L MISSISSIPPI V A L L E Y E L E C T R I C P R O P E R T I E S .
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
O R G A N I Z A T I O N . — Formed in I l nois by a trust agroemont dated C o m m o n $500,000 ($100).................
li
$500,000 .........
Dec. 12 1913, under which there are deposited with trustees a l tho common Pref $350,000 ($100) 6 % cum.....
l
Q-M
270.000 .........
stock of the Keokuk Electric Co. (see below) and a l the capital stocks of First mortgage $1,000,0001 1906
l
5 g F-A
470.000 Aug 1 1956
Fort Madison Elcc. Co. and Dallas City Light Co. These companies do
gold---------------- tf/Int. at State Street Trust Co., Boston. Tr.
the entlro electric raUway, electric lighting, power and gas business In
P r e f . S to c k . — Remaining $80,000 pref. stock l held In trust for the benefit
s
Keokuk, la., the entire electric lighting and power business In Fort ef tho company. Redeemable at 110.
Madison, la., and Dallas City, 1 1 , tho entlro electric railway and
1.
B o n d s . — Are subj. to call as a whole or In part for s r at 105 and lnt. at
. .
lighting business In Hamilton and Warsaw, 1 1 , and operate an inter any time. A sink, fund of 1% of bonds out began Dec. 1 1907. i earned;
1.
f
urban electric railway between Keokuk, Hamilton and Warsaw (largely on Dec. 1 1912 became obligatory. $83,000 In treasury not incl. In out
on leased lines).
standing amount. $40,000 canceled.
ELECTRIC RAILWAYS
58
E A R N I N G S . — For years ending Dec. 31:
Y ear—
G ro ss.
N e t(a ft.T a x .) In te re s t.
S in k . F u n d . S u r p l u s .
1917.......... -$146,087
$50,829
$24,037
$5,598
$21,194
1916 — ........
116,372
38,825
24,555
5,664
8,606
R O A D . — Operates 5.41 miles of track: 10 cars. Gauge 5 f . 2/4 In.
t
Power station capacity, 840 k.w.
OFFICERS.— Pres., George J. Baldwin, N e w York: V.-Ps.. Henry G.
Bradlee and Harry II. Hunt; Soc., Alvah K. Todd; Treas., Henry B.
Sawyer: Mgr., R. G. Carroll, Key West, Fla.: Gen. Mgrs., Stone & Webster
Mgt. Assn., Boston.— V. 82, p. 1496: V. 94, p. 1508.
KINGSTON, N. Y.
KINGSTON CONSOLIDATED RR.
O R G A N I Z A T I O N . — This I a consolidation on Dec. 111901 of the Kings
s
ton City RR. and the Colonial City Traction.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
C o m m o n $200,000 ($100).................
S200.000 .........
Preferred 4 % cum $200,000...............
200,000 Aug. T7. 3 %
First consolidated mortgage! 1901 5 g J-J
532,000 Oct 9 1951
$700,000 ($1,000) gold c*tf [Int. at Bankers Trust Co., N. Y., Trustee.
Second mortgage $250,0001 1909
5 J-J
None Jan 1 1939
($1,000)______________ (lnt. at Bankers Trust Co., N. Y., Trustee.
K in g s t o n C ity R R .
—
Consol $150,000 ($1,000) not 1 1893 5 M-S
149,000 Mar 1 1923
subj to call before mat y.tf (Int. at Farmers' Loan & Trust Co., N. Y.
5 quar.
6,000 On demand.
Mortgage on car barn__________
B o n d s . — $156,000 of the $700,000 consolidated mortgage I reservod to re
s
tire theKIngston City RIt. underlying li n ; $12,000 have been canceled.
os
D iv id e n d s . — 4 % was paid yearly on pref. stock from consolidation up to
1908, when 2 % was paid Aug. 1 None to Jan. 1 1911, when 4 % was paid.
.
None up to Sept. 1 1914, when 3 % was paid. In 1915, April, 3%: Aug.,
6%. In 1916, Aug., 3%. In 1917, April, 3%; Aug., 3%. Nono since.
R O A D . — Embraces 8 miles of track. Ralls, 70, 80 and 90-lb. 40 cars
2 snow plows.
R E P O R T . — For year ending Dec. 31 1917, gross, $55,907: taxes, &c.,
$42,391: divs., $12,000: surplus, $1,516. In 1916. gross, $146,035; net.
$56,402: int., taxes, &c., $45,669: dividends, $6,000; surplus, $4,798.
OFFICERS.— Pres., Fred. T. Ley, Springfield, Mass.; V.-P., Henry C.
Page, Worcester, Mass.; Sec., G. B. to How. Kingston: Treas., Abm.
Hasbrouck, N e w York.— Y. 89, p. 225, 529; V. 90, p. 303.
KNOXVILLE, TENN.
KNOXVILLE RAILWAY & LIGHT CO.
Controlled by American Cities Co. (see under N e w Orleans), which owns
a l the stock.
l
O R G A N I Z A T I O N . — Incorporated In Tennessee on Aug. 5 1905 as a con
solidation of the Knoxville Traction Co. and the Knoxville Electric Light Sc
Power Co. Does a l the street railway and a l municipal and commercial
l
l
electric-lighting and power business In Knoxvillo and servos various nearby
communities. Also controls the Knoxvillo Park Association, owning two
amusement parks. F r a n c h is e s aro peroetual, except as to 1H miles of
street railway, which latter run until Nov. 28 1946.
In 1911 $1,500,000 com. and $500,000 pref. stock was a l made one class
l
and Increased to $2,050,000.
Has favorable long-term contract with Tennessee Power Co. for the pur
chase of electric power.
In Dec. 1916 Issued $1,534,000 ro . and ext. M . 5s, proceeds boing used
f
to retire $325,000 2-year 6 % c l , notes due July 1 1917 (paid off Jan. 3
ol
1917 at 10014) and $l,O62,00O consol. M. 5s duo Sept. 1 1945, which were
called for payment on March 1 1917 at 1071$. V. 103, p. 2238.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $2,050,000 ($100).... ....
J-D
$2,050,000
See text
Ref & ext mtgo $10,000,0001 1911
5 J-D
3,306,000 Juno 1 1946
($500 and $1,000)__ c*cpt(lnt. at Guaranty Trust Co., N. Y., Trustee.
Knoxville Trac 1st M $850,-1 1898
5 g A-O
810,000 April 1 1938
000 g tax-free ($1,000)--C*llnt. at Baltimore Trust Co.. Balt.. Trustee.
2-year debentures ($400,000). 1917
6%
$400,000 Jan 1 1919
B o n d s . — Of the ref. & oxt. mtge. $810,000 are reservod for Knoxville
Traction 1st 5s and $5,856,000 are resorved for 8 0 % of cost of oxtons.,
add'ns, Impts., &c., under conservative restrictions. Bonds aro red. as a
whole, but not In part, at 105 and lnt. on 60 days’ notice, or may be pur
chased in open market at a prico to net not less than 4J4%- Annual sink
ing fund began Oct. 1 1915, equal to J of 1 % of total amount of bonds out.
4
$28,000 In sink, fund M a y 1 1918. Penn. State tax refunded. The Knox
ville Traction Co. first mortgago bonds are not subject to c ll. $40,000
a
have been canceled.
____ _
D iv i d e n d s . — First dividend on common— 2 % — June 29 1907, 1 % was
paid Sept. 1907 and. 1 % Dec. 1907: in 1908, 4%: In 1909, 7%; in 1910, 8%:
In 1911, 10%. Then stock a l made one class and In June 1912 paid 3/4%:
l
Dec., 3/4 %. In 1913, 7/4%. In 1914, 4%. Stock a l owned by Ameri
l
can Cities Co. and dividends no longer made public.
EARNINGS.—
G ro s s
N e t ( fter
a
In terest.
S u r p lu s fo r
C a l. Y e a r —
E a r n in g s .
T a x es ).
& c.
R e n e w ., A c .
1917................$1,087,072
$432,684
$249,644
$183,040
1916................. 997,684
431,254
214.235
217,019
1915.............
939,451
349.520
209,637
139,883
R O A D . — On Doc. 31 1917 owned 54.352 m. of track. Incl. 13.761 miles
of double track: standard gauge; 70-lb. and over T and girder r i . Has 29
al
open cars, 82 dosed and 10 work cars; total, 121. Power station (held In
reserve) has 6,800 k. w. capacity.
OFFICERS.— Pres. & Gen. Mgr., C. II. Harvey; V.-P., W . S. Shields;
Sec. Sc Treas., C. J. Ploming; Asst. Sec., J. A. McKenna: Asst. Treas..
I J. Pritchard; Aud.. C. A. Briggs.— V. 102, p. 1163: V. 103. p. 2238.
I.
KOKOMO, IND.
I N D I A N A R A I L W A Y S & L I G H T CO.
,
O R G A N I Z A T I O N . — Incorp. in Indiana on Dec. 7 1912 as a consolida
tion of the Kokomo Marion Sc Western Trac. Co., Kokomo Frankfort &
Western Traction Co. and Kokomo Public Utility Co. Acquired tho Gal
veston Light & Power Co. as of M a y 31 1916 and issued $10,000 pref. stock
to pay for same. In Feb. 1917 purchased the Converse Light & Power Co.
and issued $100,000 1st M. bonds and $55,000 prof, stock to pay for same
and for extensive additions and impts. to equipment in tho power plant
at Kokomo. Carries on an interurban and street railway buslnoss and
flirnlshes electric light and power in Kokomo and 22 smaller towns and
villages; also steam heat In Kokomo. All fr a n c h is e s held by tho co. were
surrendered in 1917. Is now operating under Indeterminato permit of
tho Ind. P. 8. Comm.
In July 1917 tho Oakland Coal Co., a subsidiary, purchased the mine of
tho T. C. Bugg Coal Co. at Oakland City, Ind., to Insuro this co.’ fuel
s
supply.
R a te s . — In M a y 1918 tho application of this co. for increased freight rates
was tentatively approved by the I.-S. C. Commission.— V. 106, p. 1901.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
C o m m o n $2,000,000 ($100)......
Q-F
$2,000,000 Nov.17,1 %
Pref cum $1,000,000 ($100)......
6 Q-M
495,000 See text
1st & ref M sk fd $5,000,0001 1912
5 g J-J
1,254,000 Jan 1 1943
($500 and $1,000) g c*-tf(Union Trust Co. of Indianapolis, Trustee.
Kok Mar & W 1st M $1,000.-1 1903
5 g J-J
650,000 July 1 1933
000 g ($500 Sc S1.000)c*ntf (interest at Security Tr. Co., Ind.. Trustee.
S to c k . — Preferred stock i non-voting. In addition to tho amount re
s
ported outstanding $20,000 i held in treasury. Subject to c l at 105.
s
al
B o n d s . — Of the 1st & re . bonds, $650,000 are reserved to rotlre the K. M.
f
& W. bonds, $26,000 are held In treasury and $3,070,000 aro for additions,
betterments. &c., under certain restrictions. Red. on any lnt. date at 105.
Sk.fd. 1 % began Jan. 1 1917. In lieu of retirement of bonds, company
may at I s option sot aside annually for perm, add'ns, Impts. & extensions,
t
at not exceeding 8 0 % of cost thereof, a sum equivalent to 1/4% of total
amount of refund, bonds out. Int. payable at Spencer Trask & Co., N. Y .
V. 95. p. 1684. K. M. Sc W. 1st M. bonds are subj. to call at 105 and lnt.
See V. 76. p. 1143: V. 77, p. 451.
D i v i d e n d s . — 6 % I being paid on tho pref. stock. On common. 1 % s.-a.
s
to Aug. 1915. when 1/4% was paid. In Feb. 1916, 1/4%: Aug., 2%:
Nov., 1%. In 1917, 4%. Nono since.
E A R N I N G S . — Yoars ending Dec. 31:
1917.
1916.
1915.
Gross earnings__________________________ $611,315 $544,468 $463,099
$312,812 $326,410 $273,632
Net earnings.........
Other income__________________________
8,639
2,962
2,620
Int., taxes, deprec’ prof, dividends, & c—
n,
178,577 163,159 159.223
Balance, surplus..........
$142,874 $106,213 $117,029
[Vol. 106
L a te s t E a r n in g s . For 3 mos. end. Mar. 31 1918, gross, $165,997: net,
—
S72,158; other income, $3,125; i
nt., taxes, depreciation and pref. divs.,
$53,429; surplus, $21,854.
R O A D . — Operates 53 miles of Interurban electric railroad from Marlon
through Kokomo to Frankfort and 9 miles of street railway In Kokomo.
Is connecting link botween tho Terro Haute Ind. Sc East. Trac. Co. and the
Union Traction Co. of Indiana. Standard gauge, 70-lb. T r i . On Dec.
al
31 1917 had 8,199 light and power and 143 heat consumers.
OFFICERS.— Pros., Goo. J. Marott; V.-P., L. J. Kirkpatrick; Treas.,
A. R. Holliday; Sec., L. B. Hodgkin; Aud. & Asst. Sec., Karl A. Georgo.
Gen. Supt. & Asst. Treas., P. H. Palmer.— V. 96, p. 486; V. 106, p. 1901.
LACONIA, N. H.
LACONIA STREET RAILWAY.
In Nov. 1906 control changed hands, and the new interests also acquired
control of the Laconia Electric Lighting Co.
O R G A N I Z A T I O N . — Formerly the Laconia & Lakeport Street Ry., but
namo changed to abovejin,1894.
ST O C K , &c.—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
___
______
$100,000 --------C o m m o n $100,000 (par $50)
Pref 6 % cum $40,000 ($100)...............
40,000 .........
First mortgago $91,000 ($1.-1 1899
5 M-N
91.000 M a y 1 1919
000)_________________(Interest at American Trust Co., Boston.
Second mortgage $40,0001 1904
5 M-N
40,000 M a y 1 1919
($1,000)______________ (Interest at People’ National Bank, Laconia.
s
D iv id e n d s . — In 1893-94 paid 5%; In 1894-95 paid 4%: nono since.
R O A D . — Owns 8.87 miles of track from Laconia to Weirs. Standard
gauge. 11 passenger and 2 other cars.
E A R N I N G S . — For year ending Dec. 31 1916, gross, S39.857; not (after
taxes), $2,482; Interest on bonds, &c., $7,341; def., $4,859.
LA CROSSE, WIS.
WISCONSIN RAILWAY. LIGHT & POWER CO.
O R G A N I Z A T I O N . — Incorp. In Wisconsin on Jan. 16 1913 and has ac
quired and now owns in foe a l the property formerly belonging to the La
l
Crosse Water Power Co., the La Crosso City Ry. and the Winona (Minn.)
Ry. & Lt. Co. Does electric-light and powor business In Winona. Minn.,
and Onalaska. WIs., and operates street railways In Winona and La Crosse.
Owns hydro-electric plant at Hatfield, WIs., with transmission linos to La
Crosse and Winona, at which cities l also has steam rosorve plants.
t
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n 51,230,000_______ ____
________$1,230,000 __________
First Sc rof M $10,000,000/ 1913
5 F-A
2,225,000 Fob 1 1933
(51.000) gold_______c*tflFirst Trust Co., MUw., Trustee.
La Crosso City Ry 1st M l 1909
5 g J-J
220,000 July 1 1929
(closed mtge) ($1,000)__ c(Int. at Wisconsin Tr. Co., Milw., Trustee.
S tock . — Entire stock placed in escrow for 5 years undor a voting trust
agreement for tho establishment of a Uofinlto management and control of
property, the voting trustees consisting of Fred. Vogel Jr., Frank O. Wetmore. F. B. fllxon. H. L. Stuart and Cloraent O. Smith.
B o n d s . — Of tho $2,225,000 1st Sc r f bonds outstanding, $825,000 have
e.
been deposited with trustees by ownors, under an agreement which provides
that, wnilo so In escrow, they shall be subordinate and junior In ovory
respect to $1,400,000 bonds sold to tho banks. Such escrow bonds can be
released from escrow ouly In l
ots of $50,000 or multiples thereof, undor
certain restrictions. The mtgo. providos that $2,225,000 may bo issued at
par for corporate purposes of the company. Bonds In addition to tho
$2,225,000 may bo Issued as follows: $220,000 to rotlre La Crosso City
bonds and $75,000 to retire a like amount of bonds which may be issued for
certain additional property; remaining bonds aro Issuable at par (a) to
rodoem at par any underlying bonds or any mtge. dobt existing against
any property acquired, not exceeding, however, at par, the reasonable
value of such property; and ( ) for not exceeding 75% of cost of any addi
6
tional property, with certain restrictions. Bonds r d , on any lnt. date at
e,
105 and lnt. S in k in g f u n d , 2 % per annum, began in 1918. Int. payable
at office of trustee, or at office or company or at i s N e w York agency.
t
S
.
E A R N I N G S . — For year ending Juno 30 1917. gross, $432,259; net, afte
taxes, $153,001; intorest, $126,804; surplus, $26,197.
R O A D . — 24 miles of track.
OFFICERS.— Pros., Clement C. Smith: V.-P., Peter Valier: Sec.-Treas.’
Howard Greene; Act’ Sec.-Treas., J. P. Pulliam; Asst. Sec., Geo. J. Chafg
fe ; Asst. Treas., Theodoro F. Kaap, a l of Milwaukee. Operations are di
o
l
rected from President's office in Milwaukee in connection with tho opera
tions of tho Wisconsin Public Service Co. and other public utility properties.
V. 98. p. 692; V. 99, p. 1750, 1830.
WISCONSIN MINNESOTA LIGHT & POWER CO.
C o m m o n stock a l owned and properties managed by American Public
l
Utilities Co.
O R G A N I Z A T I O N . — Incorp. In Wisconsin. Dec. 2 1901 as the La Crosse
Gas & Elec. Co. (successor to tho La Crosse Gas Light Co., the LaCrosse
Brush EL Lt. Sc Pow. Co. and the Edison Lt. Sc Pow. Co.) On June 24
1914 changed name to Wisconsin Minnesota Light & Power Oo. and In
creased I s auth. stock from $900,000 to 510,000.000 and merged the
t
Chippewa Valley Ry. Lt. & Power Co. (Incorp. In WIs. In 1898) and the
Chlppowa Valloy Construction Co. In 1914 acquired tho property of the
Winona Gas Light & Coke Co., Rod Wing Gas Light & Powor Co., Mlnnesota-WIsconsIn Power Co., Eau Claire Gas Light Co. and Nelllsvllle Elec
tric Co. V. 99. p. 1758. In July 1917 purchased tho property of tho
Bloomer (WIs.) Elec. Light Sc Power Co. V. 105, p. 29G. Owns and oper
ates electric light and power, street and interurban railway, gas, domestic
water, and hot water heating properties in Eau Clairo, La Crosse, Chippewa
Menominee, Sparta, Tomah and Viroqua, WIs., and Winona, Wabasha,
Lake City, Twin Cities and Red Wing, Minn. Operates under an indeter
minate permit granted by tho Wisconsin RR. C o mm, and i protected
s
against competition by any othor public utility doing a similar business.
Mas contract with Northern States Power Co. to supply l with electric
t
energy for 30 years which began in 1917.
In Sept. 1917 was auth. by Wis. P. U. C o mm, to Increase gas rates 10
cents per 1,000 cu. f .
t
O u ts ta n d in g . M a t u r i t y .
D a te .
In terest.
STOCK A N D BONDS—
........ $2,500,000
.......
Common. $5,000,000______- _ _
Q-M 1
4.881.000 Mar. '18. 1/4
Pref., $5,000,000 (7% cum.)______
___
5 g M-N
8.898.000 M a y 1 1944
1st Sc ref M . $20,000,000 goldl 1914
($500&$l.d06)c*($l,006)r*f Int. payable In N. Y. or Chicago,
red aft M a y 1'19@105&lntl Harris Trust Sc Sav. Bank, Chicago; Trustee,
I Albert W, Harris Co., Trustee.
Ohipp V Ry L Sc Pow 1st M l 1907 5 g J-J
511.000 July 1 1924
(ciosed)$2.000.000($l,000)g(Int. at Harris Tr. Sc Savs. Bk., Chic., Trustee
220,500 --------Eau Clairo Gas Light C o ____ ____
Winona Gas Light & Coke C o . ___
300,000 --------Rod Wing Gas Light Sc P. Co..............
250,000 ........
S to tk . — Prof, stock i pref. as to assets and dividends. Additional pref.
s
stock may be issued only under conservative restrictions. Tho pref. stock
m ay olect a majority of tho directors whenever four consecutive quarterly
dividends remain unpaid or the property i shown to be inefficiently man
s
aged or depleted. See V. 99, p. 54; V. 106. p. 1797. Of tho amount re
ported outstanding $162,000 i treasury stock, no divs. being paid thereon.
s
B o n d s . — Of tho 1st Sc r f bonds of 1914, $511,000 are reserved to retire the
e.
Chippewa Valley Uy., Lt. & Pow. bonds. Escrow bonds can bo Issued to rotl o prior Hons and for 75% of cost of ext. and add'ns (provided $250,000 l
r
a
expendod for ext.. S e c ., without the Issue of bonds), hut only as regards the
f r t $2,750,000 bonds, In case the annual net earnings are l/£ times tho
is
total ln . charge, I c . bonds applied fo : balance may bo Issued when net
t
nl
r
i W x times in . chargo. V. 98, p. 1995. Of tho amount roportod out
s
t
standing $151,500 aro held in treasury. S in k in g f u n d payable on the
basis of tho following percentages of the bonds outstanding. Including under
lying bonds: 1 % yearly 1919 to 1928, 1 H % 1929 to 1938. and 2 % 1939 to
1943: either to retire bonds or for extensions and additions.
D iv id e n d s . — Initial div. on prof, stock of 1J4% paid Sept. 1 1914; Same
rate quar. slnco to and I c . March 1918.
nl
EARNINGS.—
G ro s s
N e t (.after
Bond
P r e fe r r e d
B a la n c e .
Y e a r E n d in g —
E a r n in g s .
T a x e s , A c . ) I n t e r e s t . D iv i d e n d s . S u r p lu s .
Dec. 31 1917..... $1,712,220 $896,480 $298,862 $291,200 $306,418
Dec. 31 1916..... 1,277.090
681,531
242,801
162.354
276,376
Dec. 31 1915..... 1,143,262
585,016 -------- Not stated'------R O A D , P R O P E R T Y , &C.— Owns and operates 25 miles of electric,
railway, I c . Interurban lino on private right-of-way between Eau Claire
nl
and Chippewa Falls and local lines In those c t e . Present rated capacity of
iis
May, 1918.]
59
ELECTRIC RAILWAYS
L A N C A S T E R & Y O R K F U R N A C E S T R E E T R Y .— A trolley road.
com pany’s hydro-electric and steam plants approxim ates 57,000 h. p.
O R G A N IZ A T IO N .— Incorp. M a y 17 1916 in Pennsylvania as successor
Ultim ate developm ent, 150,000 b. p. Owns over 250 miles o f high-tension
transmission lines and has m ore than 100 miles under construction. Also to old Lancaster Sc Y ork Furnace Street R y . (Incorp. July 22 1901), bought
owns and oporates gas properties in La Crosse, com prising 55>5 miles or. In by tho bondholders on A pr. 15 1916 for S l25, subject to the m ortgage for
$150,000 (V . 101, p. 212; V . 102, p. 1540). Operations, which had been
™ O F F IC E R S .— Pros., Jos. H . Brower; V .-P ., W . B . Parsons; V .-P . & discontinued In Jan. 1916. were resumed M a y 19 1916.
STO C K A N D BONDS—
Date.
Interest. Oulstandnig.
Maturity.
Gen M g r.. P . D . Kline; Treas., C . A . B oalt: S ec., Blaino G avott; Asst.
- ............ —
$100,000
.........
S e c^ T re ls., W . J. R ip ley .— V . 101, p . 760; V . 105, p . 296, 1106. 1899; Stock $100,000 ( $ 5 0 ) ...........................
1st M gold $150,000 ($1001 1908
5 g J-J
150,000 Jan 1 1928
V . 106, p. 1797.
_______ _______________
$500 & $ 1 ,0 0 )___c& rn tf (In t. at N orthern T r. Sc Sav. C o ., Lane.,trust.
Bonds.— Aro not subject to call and have no sinking fund.
LAKE CHARLES, LA.
R O A D .— Operates 12% miles o f track between M illersville and Y ork
Furnace. 60-lb. T rail. Gauge 5 ft. 2 % In.
LAKE CHARLES R A ILW A Y, LIGH T & W ATER W ORKS CO.
O F F IC E R S .— Pres., J. B . H am ish; V .-P . Sc G en. M g r., John H . W are;
O R G A N IZ A T IO N .— Incorporated In Louisiana In 1909. In Juno 1909 T reas., Elam H . M yers; S ec., John II. M yers.— V . 92, p. 187; V . 101, p.
the com pany acquired the Lake Charles Street l i y . C o ., operating an electric 212, 2145; V . 102, p . 153, 1249, 1540. 1625, 2077.
railway in Lake Charles and Lake Charles Ice, Light & W ater W orks C o .,
which operates an Ice plant, electric-light and power departm ent and
^^Franchise's expire; street-railway, 1941; electric light and pow er, 1926;
water-works, 1921. solf-renowing every 5 years thereafter unloss city buys
plant.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
LAUREL, MISS.
L A U R E L L IG H T & R A IL W A Y C O .
O R G A N IZ A T IO N .— Incorp. In M iss. Owns and operates the lighting ,
power and street railway system In the cities o f Laurol and Ellisvllle, M iss.,
and an olectrlc interurban railway between tho tw o cities. T he lines o u t
First m ortgage $500;000 gold ] 1909
6 g F-A
165,000
See text. side tho cities and 2 miles in Laurel are on private right o f w ay. Franchises
In Laurel extond to Sept. 1936: in Ellisville to M ar. 1937.
($500 and $1,000)______ c*\Inter-State T r. & B kg. C o .. N ew O rl., T ru s.
An advance in fares to 6 conts was denied b y city authorities In O ct. 1917.
Bonds.— Remaining bonds are for Improvements and extensions on basis
o f $1 in bonds for each SI 33 o f im provem ents, & c. Bonds mature S15.000
STO C K A N D BONDS—
Date. Interest.
Outstanding.
Maturity.
soml-ann. from A ug. 1 1912 to Feb. 1 1922, both incl.; redeem able on any Com m on stock ____________________
________
$425,000 -----------------Int. day on 30 days' notlco. In t. Is payable at offico o f trustee or at Chicago Preferred stock, 6 % __________ ______
75,0o0 - - - - - - - - -
Savings Bank & Trust C o ., C hicago. $135,000 has been rotlred.
First m ortgago $500,000 gold I 1911
6 g J-J________ 408,OoO July 1 1936
E A R N IN G S .— For cal. year 1916, gross, $208,189. In 1914, gross.
($1,000)................ .......... c * t f 1Int. at Fidelity Trust C o ., N . Y ., Trustee.
Laurol El P & L t C o m tge____ ______
_______
80,000 . — - — - $247,965. In 1913, gross, $231,444.
R O A D .— Consists o f 9 miles o f track. 60-lb. rails.
Bonds.— $80,000 1st M . bonds are reserved to retire underlying bonds;
O F F IC E R S .— Pros.. J. A . Landry; S ec., P . O . M oss.— V . 89. p. 919.
remaining $12,000 aro Issuable for additional property. N ot subj. to call.
12 mos. to ---------------- Years ending Dec. 31------------E A R N IN G S .— A p r. 30 ’ IS. 1916.
1915.
1914.
1913.
LANCASTER, PA.
G r o s s ........................... $128,202
S124.049 $121,756 $120,602
$99,264
N e t____________ ______ 60,371
59,633
49,082
46.640
38,887
LANCASTER COUNTY RAILVVAY & LIGH T.
R O A D . & c.— Comprises 6 H miles In Laurel and 9 K miles between
Controlled b y the United Gas & E lec. C orp .— See under N ow Y ork .
O R G A N IZ A T IO N .— Incorporated on June 15 1901 In N ew Jersey. Own® Laurel and Ellisville; total, 16 miles. Owns a pleasure park between
and controls the following railway, gas and electric properties, whoso stock 8 Laurel and Ellisville.— V. 104, p. 452; V . 105, p. 1802.
are placed under the m ortgage or 1901:
^, _
Conestoga Traction C o .,
|Edison Electric C o .
LAWRENCE, KANSAS.
Lane. Gas Light & Fuel C o.
I
Also controls the Conestoga R ealty C o .
... ^ .
... ^
K A N SA S E L E C T R IC U T IL IT IE S C O .
Franchises are perpetual. Does all the gas and electric lighting in cities
O R G A N IZ A T IO N .— Organized In Kansas In Sept. 1915 to acquire the
o f Lancaster and C olum bia, and practically all in Lancaster C ou n ty.
properties o f tho Lawronce R y . & L t. C o ., Em poria R y . & L t. C o . and
M e r g e r . — In Jan. 1918 applied to Penn. P . S. C om m , for auth. to merge
Parsons R
. Supplies electric light, power and street railway
into a new corporation, to bo known as the Conestoga Ira c. C o ., the service in y . & L t. C oEmporia and Parsons, K an. Franchises expire in
Lawronce,
Lancaster T ra c. C o ., Lancaster l i y ., Lancaster C ity, Lancaster & Lititz,
1929,
1938
contain no burdensome
owns
C olum bia S Ironvllle, Columbia & Donegal, and tho present Conestoga all the1931 and stock andthe Sidney (O .) Electric restrictions. CAlso (In d .)
c
capital
of
C o ., Union
ity
T rnr C o
V 10fi n 3Q5.
In D ec. 19i7 increased auth. capital stock from $2,500,000 (of which Electric C o . and United Lighting C o . o f A lbion. Pa.
STOCK A N D BONDS—
Date.
Interest. Outstanding. M aturity.
$1,000,000 5 % cum . prof.) to $3,750,000.
S tock, $1,750.000.............. .............................................
$400,000
Maturity
STOCK A N D BONDS—
Date.
Interest. Outstanding.
First m tge, $1,750,000 ($1,-? 1915
5 A -O
1,171,000 O ct. 1 1 9 2 5
$1,600,000 M a r '18. 2%
Stock com . $2,000,000 ($50-----------Q-M
000, $500 Sc $100) g.c* t f { I n t . at C ont. & C om m . T r. & Sav. B ank.
Pror. $1,750,000 ($50) 5% cum
.
Q -M
1,248.100 M a r 18, 134
T ax refund In Pennsylvania l C h ic., Trustee, and First N a t. B k ., N . Y .
July 1 1951
M tge 31,000 000 gold ($5001 1901
5 g J-J
1.000,000
Bonds.— Remaining bonds m ay be Issued for 8 0% o f cash cost o f extens.,
and 51,000)_____ c * n t f ___ (Interest at Lancaster T rust C o. Trustee.
Impts. and addns. under conservative restrictions. Callable on 60 days
Securities o f Lines Controlled—
notlco, all or part, at 102H and Int. Sinking fund began Jan. 1 191 <
Oonest T rac 1st M $2,000,0001 1900
4 J-J
1,277,500 Jan 1 1950
(3100. $ 5 0 0 ik $ l,0 0 0 )..c * t f(ln t. a t l ’ rov. LIfo& T r. C o ., Phila., Trustee. of 1% o f bonds out from 1917 to 1920 incl., and 2 % thereafter. Bonds to
Lancaster C ity R R 1st m tgof 1890
6 g A-O
160,000 A pr 1 1920 be held alive in skg. fd . In addition a fund Is to be set aside annually for
betterm ’ts which will am t. to abt. $172,500 b y 1925. V . 102. p . 803.
(S100 and $500) ____ c * t f lin t , at M etropolitan T r. C o ., N . Y ., Trustee.
Earnings.— O f consolidated cos. for year end. D e c. 31 1 9 1 /, gross,
T E St Ity 1st M $225,000 1891
5 M -N
m 225,000 M a y 1 1921
$348,084; net. after taxes, $120,097. In addition the net earnings o f co n
trolled cos. applicable to divs. for the year end. D ee. 31 1917 were $35,561.
R O A D .— Owns and operates 10 mllos o f street railway In Lawrence,
4.8 miles In Em poria and 7.8 miles In Parsons; total. 22.6 mllos. 60-70-lb.
LaA V 6 o o r ‘
” ” 'e n t f 11nt. at Lancaster Trust C o., Lane., Trusteo. T rail. 30 m otor cars, 7 trail cars and 1 com bination work and snow car.
Second mortgago $400.0001 1906
5 J-J
• 100.000 Jan 1 1936
O F F I C E R S — P res., A lbert Em anuel. N . Y . C ity; V .-P ., Irving Hill
(SI 000)
c * tflln t. at Lancaster Trust C o.. Lane., Trustee. Lawrence, K a n .; T reas., C . B . Zeigler, N . Y . C ity .— V . 102, p . 889.
Third’ mtgo'SlOO'OOO'goId) 1911 J-J
lOO’O O Jan 1 1936
O
f«i non)
c * tflln t. at Lancaster Trust C o., Lane., trustee.
Columbia Gas 6 o 1st mtgof 1911 5 J-J
75,000 Jan 1 1941
*200 000 ($1 000) c*tfl Int. at Farmers Tr. C o., Lancaster, Trustee.
Edison Elec Co 1st & "ref M l 1913
5 F-A
1 657,000 Feb 11913
* k non non
tfiLancaster Trust C o., Lancaster, Trusteo.
Edison Elec’ illum "Co 1st
1895 5 J-J
290 800 July 1 1925
M $300,000 ($100, $5001 Interest at Lancaster Trust C o.. Lancaster.
s.. «i non)
c&rtf
Trustee.
C 0 1 E 1 L H & P 1st M g o ld / 1905
5 M -N
125,000 M a y 1 1935
$125 000 ($1,000) c& rtff Int. at People s Trust C o .. Lancaster, Trust.
C o n m toga R ealty C o 1st M
l 908 5 M - N . . . .
248.000 M a y 1 1958
$500,000 sink fund g c . . t f l l n t . at Lancaster T rust C o .. L ane., Trustee.
Bonds.__O f Conestoga T ra c. 1st M . bonds, $610,000 reserved to retire
prior liens $112,500 roserved to bo used for the reduction o f rentals. Of
Lane. Gas Lt. & Fuel 2d M . $300,000 are rcsorved to retire 1st M . bonds.
Lane. Gas Lt. Sc Fuel 3d M . bonds are redeemable at 105 and int. on any int.
date on 3 m os.' notlco. Colum bia Gas C o. bonds aro red. on any int. date at
105 and int. on 90 days' notice. $125,000 reserved for future im provo’ ts at
8 5% o f cost thereof. O f Edison E lec. C o. 1st and ref. bonds $285,000
reserved to retire underlying bonds; remainder held in treasury for im pts.,
extensions, A c ., at 85% o f cost thoroof; rod. as a whole, but not part, at
105 and Int. on any Int. date. Colum bia Elec. Light, II. Sc P . bonds are
red. at 110 and Int. on any int. date. Tho bonds aro guar, b y tho Lane.
C ounty R y . Sc Lt. C o. Conestoga R ealty C o. bonds are red. at nar and int.
on any int. dato upon 3 m os.’ notlco. Sinking fund an am ount sot up
m onthly sufficient to rotiro bonds at m aturity.
„
..
Dividends.— T ho first dividend on tho preferred stock (3 % ) was paid on
July 1 1904 and 3 % was again paid on O ct. 1
In 1905, Jan ., 3 %
(see V. 79. p. 2796); July. 3 % ; D e c.. 4 M % - In I fO fx 6# % . [> in07 7%
In 1908 and slnco, 5 % . On com m on. In 1908 to 1912. incl. 10% ; in 191,1,
12% ; ill 1914. 11 % % : In 1915, 1 4 H % : in 1916- 15% - m 191 >• 1 7 % % ; In
1918, D ec., 2 % % ; M a r., 2 % % .
,
R E P O R T .— For year ending D ec. 31 1917, earnings (loss expenses and
proportion o f surplus o f sun. c o s .;, ^399,694 (against $375,128 In 1916);
bond interest, 350,000; prof, d iv ., $51,137; surplus, $298,557.
Combined Results o f Subsidiary Companies— Calendar V cars.
Year—
Gross.
NeK.aft.Tax).
Charges.
Balance.
________$2,211,132
$953,754
$461,048
$492,706
1917
l o i r , : : : : : : : : : : : . . : . - - i.9 4 i:7 S 3
883.413
448,893
43 4 ,5 2 0
R O A D .— T ho Conestoga Traction C o. (the operating com pany) leases
163.75 miles o f track, Including tho Lancaster C ity Street R y ., 16.76 miles:
Lancaster & C olum bia, 8.26 milos; Lancaster Sc Lllltz 9.19 miles; C olu m
bia & Ironvillo, 4.27 mllos; Colum bia & Donegal ,5 .1 6 miles; Lancaster &
M echanlcsburg S N ow Holland, 20.80 miles; the N ow Holland Blue Ball S
c
c
Torre Hill Streot R y .. 4.99 m .; tho Rohrerstown Landlsville & M t . Joy R y ..
13.87 in.; tho Lancaster & Eastern R y ., 17.74 m .: the Lancaster & Quarryvlllo Street R y ., 8.44 miles: tho Elizabethtown Sc Florin Street R y ., 6.40 m .;
the Christiana & Coatosvlllo St. R y .. 11.04 miles; Lancaster Sc M lllersville
R y ., 4.67 miles; Lancaster Willow Streot Lampeter Sc Strasburg R y .. 11.23
miles; the Lancaster Petersburg & Manhoira R y .. 8.33 miles; the Ephrata &
Adam stow n, 7.99 m .f and the Lancaster & R ocky Springs, 4.61 miles.
Subsidiary gas companies had 10,755 gas meters in use on M ar. 31 1918.
Lines Leased to Conestoga Traction Co.
Name of Company—
;S(ocA.
Rental ( % ) . Miles.
Lancaster M echanlcsburg Sc Now H olland— $300,000
8
20.80
Rohrerstown Landlsville S M t . J o y ___________________________§
c
13.87
Ephrata & A dam stow n_____________________- 225.000
6
7.90
Lancaster S R ocky S prin gs................... ...........* 0 0 0
c
6
4.61
Now Holland Bluo Ball & Torre H ill................ 120,000
5
4 99
Lancaster Sc Eastern--------------------------------------229'599
5
17*74
Lancaster Sc Quarryvlllo...................................................................... 2
§ '1 2
Elizabeth & Florin................................................... 220,000
2
6.40
Christiana S C oatosvlllo------ --------------------------- ?2 §'2 2 2
c
2
H -04
Lancaster Petersburg & M anhoiin...............
175.000
6
8.33
Lane. W illow St. Lampeter ScStrasburg_____ 225,000
6
11.23
Lancaster Sc C olum bia______________________ 37,500
20
8.26
O F F IC E R S .— Pros., W . W . Grlest; V .-P ., George Bullock; Sec. and
Asst. Troas.. J. A . M cK enna; T reas., II. J. Pritchard; Asst. S ec.-T reas.,
J. M . G r o f f — V. 93, p. 1783; V . 105, p. 2543; V . 106, p. 396. 602.
LEETONIA, OHIO.
Y O U N O S T O W N & O H IO R IV E R R R .— A trolley and steam road.
Freight service operated b y steam; passenger service b y electricity.
O R G A N IZ A T IO N .— Incorporated In Ohio on D e c. 8 1905. In 1906
loased for 99 years Salem R R . from Pittsburgh Lisbon & Western R It. C o ,
for $6,000 per annum; tho form er runs between Salem and W ashlngtonvIIle.
7 m . In 1910 road was re-capitalized and new securities Issued as b e lo w .
STOCK A N D BONDS—
Date. Interest. Outstanding.
M a tu rity .
Stock com m on $1,000,000____ ______
________
$1,000,000 D ec.’ 1 6 ,l%
Preferred $1,000,000 5 % c u m . ____
Q -M
1,000,000 D e c .T 7 .l K
First m ortgago $2,500,000f 1910
5 A -O
1,200,000 A pr 1 1 9 3 5
gold ($1,000).....................c * i Int. at Citizens' Sav. & T r. C o ., C leveland,
[ Trustee, or First N ational B ank, N . Y .
Stock and Bonds.— P rof, stock d iv . Is cum ulative from July 1 1913.
Bonds subjoct to call on any int. date at 105 and int. Remaining bonds
are reserved for acquisition and extension under certain restrictions.
Dividends.— Dividends on pref. began In 1910 and in that year 1 % % was
paid. In 1911, 3 % % ; In 1912, 4 % % ; In 1913 and 1914. 3 % % ; in 1915,
4 % % . In 1916, 5 % and 3 % extra, paying up all accum ulations. In 1917,
5 % . Initial d iv. on com m on o f 1 % paid in D ec. 1916. N one since.
E A R N IN G S .— F or years ending D ec. 31:
,
_ ,
Year ending
Gross
E xp ., Taxes
N et
Bond
Balance.
Dec. 31—
Earnings.
& Rentals.
Earnings.
Interest.
fo r D u s .
1917.................. $356,559
$237,463
$119,096
$60,000
$59,096
1916................... 332,028
200,979
131,049
54,611
76,438
R O A D .— Oporates from tho terminus o f the Stark Electric R y .. in
Salem, Ohio, through tho city o f Salem to a connection withthe Salem R R .,
and over tho Salem R R . from Salem through W ashingtonville, Leetonla,
Lisbon and W est Point to East L iverpool, Ohio, a distance o f 36 m iles.
At Leotonia, O ., connection Is made with the Youngstown & Southern R y .,
Owns 32.19 miles o f track and leases 6.81 miles. Standard gauge, m ostly
70-lb. T rail. Pass, equip.. 7 cars; freight, 3 locom otives. 15 cars.
O F F IC E R S .— Pres., Chas. S. Thrasher; V .-P . & Gen. M g r., J. D .
Dewces; Sec. & T reas., Warren Bicknell; A ud. Sc Asst. T reas., R . F . Miller;
Operating M g rs., Warren Bicknell C o. General offico, Leetonia, O .;
executive offices, 304 Citizons’ B ldg., Cleveland. O hio.— V . 101, p . 450,
1887, 2146; V . 102, p . 523; V. 103, p. 494. 1120, 2429.
LEWISTOWN, PA.
L E W IS T O W N & R E E D S V IL L E E L E C T R IC R Y .
Controlled b y the Penn Central Light Sc Power C o . o f N . J . (V . 96, p. 493)
and operated In connection with the Penn Central Light & Power C o .
(P enn a.). All o f tho stock and som e o f the bonds are subject to the lien
of tho mortgages o f the Penn Central L t. Sc Power C o.
O R G A N IZ A T IO N .— Incorporated in Pennsylvania on M arch 24 1892.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
Stock $150,000 ($50)...........................
..............
$150,000 '0 7 -’08. 5%
1st M g (3500 and $1,0 00 )] 1899
5 g J-J
150.000 June 1 1919
$150,000 not c a lla b le ..c & r lln t. at M erchants Union T r. C o ., P h ila .. T r.
R e f M tge $500,000__________/ 1917
5 A-O
68,000 O ct 119 4 9
\Phila. Trust C o ., P hila., Trustee.
Second M tgo. 5s originally fell due M a y 1 1917, but were extended to
M a y 1 1949. T hey aro owned or controlled b y Penn Central Light &
Power C o . All tho outstanding ref. m tge. bonds are owned b y the Penn.
Central I,. Sc I’ . C o. T h ey were issued for exts., im pts., &c.
D i v i d e n d s .— 1902 to 1908, incl., 5 % per annum.
N one since.
E A R N IN G S .— F or year ending Dec. 31 1917, gross, $178,101: net,
after taxo.,, $14,057; charges, $14,057; balance, none.
...
R O A D .— Operates 10.55 miles o ftra ck from Lewlstown toR eedsville and
Lew Istown June., with a branch to Burnham. 60 and 70-lb. T and 70-lb.
girder r a i l .
O F F IC E R S .— Pres, and M g r., J. 1. Quigley, Lewlstown: V .-P ., John E .
Zim merman, Phila.; Sec. and T reas.. Chas. D a y , Phila.; A sst. S ec., R . C .
Shields, Phila.: A sst. T roas., C . R . Bitting, Phila.; S upt., C . E . G ossard.
L ewlstow n.— V . 88, p . 1128; V . 89, p . 919; V . 96, p. 487.
G
O
LEXINGTON, KY.
K E N T U C K Y S E C U R IT IE S C O R P O R A T IO N .— A holding com pany.
O R G A N IZ A T IO N .— Incorporated In Virginia on Jan. 23 1911 (V . 92, p.
322) as successor to the Lexington & Interurban R ys. C o. per plan In
V . 92, p . 461. Owns the entire stock o f the K entucky Traction & Term i
nal C o ., Lexington U tilities C o . and Lexington Ice C o.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Com m on 32,500,000 (5100)............................... 32.052,287 ..................................
P ref 82,500,000 (8100) 6%1
Q— J15
2.500,000 A pr ’ 1 8 ,1 ^ %
cum from Jan 1 1913............/ _____
Stock.— B oth com . and pref. are listed on Phlla. and Louisville stock
exchanges. Pref. Is also listed on Cincinnati Stock Exchange. Prof,
stock Is redeemable at par and accum . dtv. In July 1917 holders o f b oth
com m on and pref. stock were given the right to subscribe pro rata on or
before A ug. 15 1917 for the remaining 3345,080 p ref. stock at 82>S and
accrued divs. from July 1 1917. V . 105, p . 389.
D iv i d e n d s . — Initial d lv. on p ref., 1 )4 % . paid July 15 1913; same rate
quar. to and incl. July 1916; In O ct. 1916 paid 154% and J4 o f 1% extra
acct. o f accum ulations. In Jan. 1917. 1>$% and 1 % extra, paying up all
accumulations; since, 1 )4 % quarterly.
E A R N IN G S .— O f com bined properties (K en. T rac. & Term . C o . and
Lex. Util. C o.) for years end. June 30 (1917 report in V . 105, p . 1894):
J u n e 30.
G ro s s
N et
O th er S i n k .F u n d .
B ond
B a la n c e .
Y ear—
[Vol. 106
ELECTRIC RAILWAYS
E a r n in g s .
E a r n in g s .
In com e. T a xes, & c .
In terest.
S u r v lu s .
Bonds.— T he West Ohio 1st M . bonds have no sink. fd. and bonds are n o t
subject to call. $476,000 have been canceled. See V . 76, p. 100, for agree
ment am ong bondholders. C oll. tr. bonds are convertible into 1st pref.
stock and are secured b y deposit o f $24,000 1st 5s. $476,000 have been
converted. N o sink, fd .; red. on N o v . 1 1921 at 110. A s bonds aro c o n
verted, proportionate amounts o f the 1st 5s which are collateral will be
canceled.
T he Lim a Findlay & T o l. bonds have a sinking fund o f $10,500 per a n n .,
which began In 1911. Are subject to call at 105. $64,000 have been re
tired. V . 80. p . 2344.
Dividends.— On 1st pref. quar. divs. were paid regularly to and lncl.
A pr. 1917. N one since. On 2d pref. first d iv ., 1)4% ), paid O ct. 1910,
and same am ount quar. to and incl. July 1914. N one since.
E A R N IN G S .— For year ending D ec. 31:
Gross
N et (after
Preferred
Balance,
Year—
Earnings.
Taxes).
Interest.
Dividends. Surplus.
1917................... $803,814
$159,625
$161,747
$8,330 def.$ 1 0,452
264,314
165,739
33,320
65,25
1916................... 749,863
1915................... 638,667
206,550
172,039
33,302
1,20
R O A D .— Operates from Lim a through W apakoneta and St. M arys t o
Colin*; from St. M arys to M inster, and from W apakoneta to Plqua; a to ta l
o f 82.01 m .; also Lima to Findlay, 31.97 m .; thus com pleting a through lino
to T oled o. T otal, 113.98 m ., single track. Standard gauge. Owns 18
pass, m otor cars. 7 freight m otor cars and 66 freight and express trail cars.
O F F IC E R S .— Pres., F . D . Carpenter, Lim a; V .- P .. E . F. G ould, O ieve.;
Sec. & T reas., R . B . C ook, C leve.— V. 194, p . 1450; V . 99, p. 895; V . 105,
p . 73; V . 106, p . 1128, 1797, 1902.
1916-17..........$912,540 3432,275 339,289
346,462 $218,034 $207,068
1915-16.......... 850,685
412.522
29,206
38,774 200.802
196.152
1914-15---------- 811,628
-----------------379,226
28,288
33,324
203,905
170,284
Passengers carried in 1916-17, 6,544,807, against 6,369,840 In 1915-16
and 6.084.710 in 1914-15.
O P E R A T IO N S .— Constituent com panies operate 96.7 miles o f track.
LINCOLN, NEB.
They d o the electric-light and power, gas, street railway and Ice business of
T H E L IN C O L N T R A C T IO N C O .— A troUey road.
Lexington. Also operate city lines In Frankfort and lines radiating from
Lexington to G eorgetow n, Paris, N lcholasville. Versailles and from Frank
O R G A N IZ A T IO N .— Incorporated In Nebraska In 1909. Is a con soli
fort to Versailles.
dation o f the old Lincoln T raction and the Citizens' R y . C o . V . 8 8 , p. 508.
O F F IC E R S .— Pres., P . M . Chandler; V .- P .. F . W . B acon; S ec.. W . J. Holders o f the old Lincoln pref. stock ($700,000) received 110 in the now
D evine; A sst. S ec.. II. T . A lley; T roas., H . W illiams J r.; Asst. T reas.. bonds. Holders o f tho old Lincoln com . ($330,000) received, for every share
H . D . Brown Jr.— V . .104, p . 73; V . 105, p . 389, 1713, 1394; V. 106, p. 924 o f old , tw o shares o f new pref. and fou r shares o f new com m on. Holders
o f Citizens' R y . stock ($415,000) received 100% In now pref. and 80% In
(1> K e n tu ck y T r a c t io n & T erm in a l C o .
O R G A N IZ A T IO N .— Incorporated In K entucky on M a y 18 1911 a s a c o n - new com m on.
Favorable Decision.— On Jan. 3 1912 Nebraska Supreme C ourt affirm ed
solldatiou o f the Lexington R y ., Bluegrass T ra c. C o . and Central Kentucky
Traction C o . V . 92, p. 1436. T he entire stock is owned b y Kentucky the decision o f the lower C ourt In quo warranto proceedings b y the State,
Securities C orp . F r a n c h is e s perpetual except those on 1 mile in Winchester refusing to order the cancellation o f $1,500,000 stock . It having been
claimed the same was “ pure w a ter." V. 94, p. 912; see also V. 93. p. 1363.
expiring in 1927.
Power Contract.— T he co . has loascd Its power plant to the Com m onw ealth
Fare Increase.— In April 1918 increased cash faros on interurban lines
from 254 cents to 3 cents a mile. Through fares from Lexington were Power C o . o f Nebraska (controlled by the same interests) and has contracted
increased 5 cents for each one-w ay ticket. V. 106, p . 1689. T ho co . has to purchase all Its electrical energy from the P ow er C o . fo r 49 years on a
asked the C ity Council to amend its franchise so that a 6-cent fare m ay bo sliding scale basis o f 1>£ to 1c. per k. w . Under the agreement the co . Is
to p a y from the am ounts duo the P ow er C o . the intorost and sinking fund
charged on city lines.
charges o f the latter. T h e Power C o . has outstanding $750,000 1st M . 6s,
ST O C K A N D b o n DS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
due M a r. 1 1944, $800,000 7 % 1st prof, and $1,900,000 2d pref. stock .
Stock $2,500,000 (3100).............................................
$2,093,400 .................. .
1st S ref m tge 37.500.000 g f 1911
c
5 g F -A
2,772.000 Feb 1 1951 See V . 104. p . 163.
Suit by Preferred Shareholders.— Tho d iv. duo Fob. 1 1948 on tho pref.
($1,000) guar p & 1. . ,c * t f lin t . at Comm ercial Trust C o ., Phlla., T rust.
Lex Ry first m tge 31.500,000 f 1899
5 g J-D
1,445.000 June 1 1949 stock remaining unpaid several o f tho holders o f pref. stock brought suit
gold (31,000)-------------- c*tf\ In t. at Continental T r. C o ., Baltimore, Trus. against tho com pany, its officers and several com m on stock shareholders
Blue Grass 1st m tge $700,000/ 1904
5 g M -8
237.000 M ar 11934 to recover $190,000 alleged to have b 3on im properly diverted to com m on
g (S500and 3 1 ,0 0 0 )..c & r t flln t . at Cleveland T r . C o .. Cleveland. Trus. divs. in 1916 and earlier yoars, and $140,000 claimed to havo boon spent
Georgetown & Lexington first/ 1901
5 g M - N 15
198,000 N o v 15 1921 in Improvements. T he defendants assert that failure to p ay tho pref.
m tge $250,000 gold (3 1 0 0 ,/Interest at Cincinnati T r. C o ., Trustee, and d lv. was duo merely to tho fact that net earnings wero not sufficient to
justify such paym ont.— V. 105, p. 1461.
$500 & $1,000)_____ c& rtfl at Guaranty Trust C o ., N ew Y ork .
Bonds.— O f the 1st & ref. bonds, $1,758,000 are reserved to retire prior
ST O C K A N D B O N D S —
Date.
Interest. Outstanding.
M aturity.
liens and remainder for extensions, im provem ents. & c., at not exceeding C om m on $2,000,000 ($100).......................................
$1,652,000 D oc ’ 16, 1%
90% o f cost under certain restrictions. They are redeemable as a whole Pref $1,500,000 ($100) 6 % c u ............
Q-F
1,149,400 N o v '1 7 ,1 \4
on February 1 1914 or any Interest day thereafter, or in part for sinking 1st m ortgage $1,500,000 go ld ) 1909
5 g J-J
1,250,000 M a r 1 1 9 3 9
fund on any Interest d ay after N ovem ber 1 1921 at 105 and interest.
* $ 1 ,0 0 0 ).....................-c& rtf (Interest at N ew Y ork T ru st C o ., trustee.
Bonds are guaranteed prin. & int. b y end. b y the K entucky Secur. C orp. Old L incoln T raction M g $ 1 ,-/ 1899
5 g J-J
250,000 Jan 1 1920
S in k in g F u n d ) 4 % per annum o f bonds o u t., 1921 to 1930; 1% 1931 to
000) ($250,000)---------- c * t f llntorost at N ew Y ork T rust C o ., T rustee.
1950. V. 92. p. 1564. The bonds aro listod on Phlla. Stock Exchange.
Bonds.— Remaining $250,000 neto Lincoln Traction C o. bonds are reserved
V . 94. p. 1119. S in k in g f u n d will retire 1% o f Lexington R y . bonds
fo r p r io r liens. S ubj. to ca ll after 1919 at 110.
annually: $166,000 were hold In s. f. D ec. 31 1917.
Dividends.— 1 )4 % paid quar. on pref. from M a y 1 1909 to N o v . 1 1917,
R O A D .— Operates 96.7 miles o f track, com prising ail street railways in
and about Lexington, 16.2 miles; Frankfort, 6.7 miles; W inchester, 1.2 inclusive. F eb. 1918 d iv. passed. On com m on, 2 % paid Sept. 1912,
miles; Georgetown, 1.2 miles; interurban lines radiating from Lexington 1% paid M a r. 15 1914 and 1% paid Sept. 1 1914. In 1915. M arch, 1% ;
to Versailles, Georgetown, Paris, Frankfort and N lcholasville, 67.6 miles; June, 1 % ; Sept., 1 % . In 1916, A p r., 1 % ; July, 1 % ; A u g., 1 % ; O ct. ,1% ,
sidings and spurs, 3 .8 miles. 50 to 80-lb. rails. Standard gauge. Owns D e c., 1 % .
E A R N IN G S .— F or years ending June 30:
34 closed and 15 open cars. 17 interurban passenger, 1 ice, 3 freight and
4 service cars.
Year—
Gross.
N et.
In t., Taxes & Divs. Surplus.
1916-17.........................$966,160
$210,585
$203,844
$6,741
O F F IC E R S .— Pres., P ercy M . Chandler, Phila. V .-P ., F. W . Bacon
Philadelphia; Sec., T . D . M urray, Lexington: Asst. Sec., W . J. D evin e’ 1915-16........................ 929,570
277,570
194,679
82.891
Phila.; T reas., J. W ill Stoll, Lexington; Asst. Treas., Jerry W . M cM eek in ’ 1914-15 ....................... 874,748
260,454
190.311
70,143
Lexington; Gen. M g r., S. II. D ailey.— V. 105, p . 2365; V . 106, p .3 9 6 . 1689/
R O A D .— Owns 54.59 miles o f track.
(2) L e x in g to n U tilitie s C o .
O F F IC E R S .— Pres., W . E . Sharp: V .-P . & Gen. M g r.. J . M . Bram lette
O R G A N IZ A T IO N , & c.— Incorp. on June 5 1009. Stock auth. and out, Treas., S. H . Burnham; Sec., O. J. Shaw.— V . 97, p. 1898; V . 106, p . 1461.
* 100.000. All stock is owned by K entucky Securities C orp. Does ice and
electric-light and power and gas business In Lexington. Light and power
OM AH A LIN C O L N & B E A T R IC E R Y .
franchises expire In 1936. Gas and ice franchises aro perpetual. Power
Is to construct 56 miles between L incoln and Om aha, o f which 7 mile*
plant has rated capacity o f 9.000 k .w . D aily capacity o f ico-manufacfrom Lincoln to Bethany Helghto Is com pleted and in operation. O f the
turiug plant, 75 tons.
7 miles just m entioned, M o f a mile is an extension Into tho main business
(3) L ex in g ton I c e C o.
centre o f U niversity Place. Standard gauge. 70-lb. T rail. Franchises,
O R G A N IZ A T IO N , & c.— Incorp. April 1917. Stock authorized and 99 years and perpetual. Stock auth., $2,250,000 ($100); outstanding,
outstanding, $25,000; all owned b y K entucky Securities C orp. M ade a 8200,000. In D e c. 1916 tho N ebraska R R . C om m . auth. tho c o . to issue
50-year lease o f plant and business o f Consumers Ice & C old Storage C o ., $2,000,000 com m on and $500,000 prof, stock and $2,600,000 bonds for the
o f Lexington. Has entered Into contract with Lexington Utilities C o . for com pletion o f the line from Omaha to L in co ln , but not including the exten
sale o f that com pany’s ice output.
sion to B eatrice.
l im a T o h io .
W E STE R N O H IO R R .— A holding com pany.
O R G A N IZ A T IO N .— Incorporated in Ohio on June 7 1910 to take over
under lease the W estern Ohio R g . but lease was canceled b y vote o f stock
holders on Juno 28 1915 and the com p a n y’s electric light and pow er plan!
at Sidney sold to the Standard Power & Equipm ent C o. and all Ita other
property and assets to the W estern Ohio I t a il w ag C o. except the stock ol
that com pany owned. Holders o f com . stock o f Western Ohio R y. had
right to exchango before Jan. 1 1911 their stock for stock o f Western Ohio
R R . on baslsof 3 shares o f Ry. for one share o f RR. V . 90, p . 1556. 29.278
shares were so exchanged. Stock auth., $1,000,000; issued. $990,900.
(1) W estern O h io R y .— A trolley road.
O R G A N IZ A T IO N .— Incorporated in Ohio on O ct. 11 1900. This is onr
o f the M andelbaum roads and form s a link in tho through car service from
Gleveland to Lim a. Outside o f municipalities has private right-of-w ay.
Franchises in towns aro for 25 years. Owns entire com m on and pref. stock
o f the Lima Findlay & T oled o R y. V . 83. p . 07. 157, 381. Has contract
to furnish power until April 30 1923 to Lima & T oled o T raction, Ft. Wayna
Van W ert Sc Lima Traction and Indiana Colum bus A Eastern Traction.
Was leased to the W estern Ohio RR.. by which it Is controlled through
stock ownership, but lease was canceled in 1916. See remarks above.
Stockholders on June 28 1915 voted to make the 1st pref. stock redeema
ble at 10734 to put the com pany In position to retire the stock when th«
$2,500,000 1st M . bonds mature on N o v . 1 1921 and arrange a com p re
hensive financial p lan .
Rates.— In M a y 1918 the application o f this co. for an increase in freight
r a t e was tentatively approved b y tho I.-S . C . Comm ission. V. 106. p.
On F eo. 27 1918 was auth. b y tho Ohio P . U. C om m , to sell at 80 $50,000
6%i<5en. M tge. bonds, proceeds to be used for a d d ’ns, exts., and impts.
Bond Interest Deferred.— Duo to tho severe weather conditions during
the winter o f 1917 and the resulting increased cost o f operation, tho co.
found itself unable to m eet the bond int. duo M a y 1 1918 on Its 1st M .
bonds.
Paym ent o f same has been deferred until Sept. 1 1918. V. 106,
p . 1797.
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu n tv .
$30,000 ................
Com m on $30,000 ($ 1 )............................................ ..
1st p f 3500,000 ($100) 7% c u m ...............................
476.000 A p r’ 17.1 \L%
2d p f $500,000 ($100) 6 % cum
.........................
450,000 Jlv'14.1 Q %
1st M $3,000,000 g ($1,000) f 1901
5 g M -N
2,500,000 N o v 1 1921
$26,500 per m ..........c* & rtf(In t. at Oit, Sav. A Trust C o ., Cleveland.
_ „
,
l Trustee, or First National B ank, N . Y .
Collateral
trust m ortgage) 1910
6%
24,000 July 1 1930
$50 0 ,0 0 0 -------------------------tf/C lev elan d Trust C o ., Trustee.
L F * T 1st m tge 3600.000 f 1905
5 g J-J
336.000 July 1 1925
gold ($1,000) — ............ c t f i l n t . at Citizens’ Sav. & Trust C o .. CleveI land, Trustee, or In N ew Y ork .
General M $500,000.................. 1918
6%
See text .....................
E A R N IN G S .— For 12 m os. onding D ec. 31 1917, gross, $27,786: net
(after taxes), loss, $8,511. In 1916, gross, $25,577; net (after $3,020 taxes),
loss, $2,709.
O F F IC E R S .— P res., H arvey Musser; S ec., J. O . Musser; Troas. & Gen.
M g r., J. M . Bramletto; A u d ., Q. J. Shaw. O ffice, 321 Terminal B ld g .,
L incoln.— V . 103. p. 844; V . 104, p. 73.
LITTLE ROCK, ARK.
L IT T L E R O C K R A IL W A Y & E L E C T R IC C O .
Amer. Cities C o . (see under New Orleans) owns 84.6 1% o f co m . and
80.20% o f prof, stocks.
O R G A N IZ A T IO N .— Incorporated In Arkansas on M arch 17 1903 and Is a
consolidation o f tho L lttlo R ock T raction & E loctric C o . and the L ittle
R ock E dison E lectric Light & Power C o . Operates all street railways In
Little R ock and Pulaski Ilolghts and ail tho oloctrlc lighting and power
business in Little R ock, N orth Little R ock and Pulaski Ilolghts. Railway
franchise extends to Sept. 28 1951; lighting franchLso unlimited in tim e.
In the latter part o f 1912 acquired con trol o f the Garland P ow er Sc D e
velopment C o ., which controls water powers on Ouachita Rtvor, 45 miles
from Little R ock. H ydro-electric developm ents with a capacity o f 28.000
h. p. are eontecnplated. V. 95. p. 1746.
In Feb. 1916 Increased the com . stock from $1,600,000 to $2,000,000 to
acquire the a«i«t« o f the M erchants’ Lighting C o ., a controlling interest In
the Central Heating A M fg . C o . and provide for further acquisitions, exts..
&e. $411,700 o f the now stock was sold at par; balance held In treasury.
In Jan. 1918 Issued $600,000 2-yoar notes to provklo for paym ent o f
$400,000 notes, which matured D ec. 1917 for extensions and equipm ent,
and to p rovide for the contract with the Governm ent for light and power
at Cam p Pike, about 10 miles from L ittle R ock. V. 106, p. 715.
ST O C K A N D B O N D S—
Date.
Interest. O t t n i g
usadn. Mtrt.
auiy
Com m on $2,000,000 ($100) ----------soml-ann $1,911,700 Juno ’ 1 7 .3 %
Pref 0% cum $750,000 ($100)---------6 J-J
760,000 D oc. ’ 17 .3%
Flret intge $2,000,000 gold 1903
5 g A -O
1.880.000 A pr 1 1 9 3 3
($ 1 ,0 0 0 )............................ c* Interest at C om . Germania Trust A Savings
Bank, N ew Orleans. Trustee.
Refunding aud extension mtg 1908
0 g A-O
1,596.000 A pr 1 1938
$5,000,000 ($500 and $1. Int. at Bank o f Com m erce & Trust C o ..
000) . .g o l d ..........................c*
.
M em phis, Trustee.
2-year notes, $600,000 ($100,/ 1918
6 g J-J
600,000 Jan 1 1920
S500 & $1,000) g - _ e * . t f f - - (Interstate T r.& B kg.C o.,N ow Orl.,La..trustco
S o k — P ref. stock is redeemable at 110 and accrued dividend. $38,300
tc.
com m on stock is held in treasury.
Bonds.— First m ortgage bonds are subject to call on 60 days’ notice on
any interest period at 1 0 7 ^ . Sink, fund o f 1 o f 1% o f outstanding bonds
4
1908 to 1917; 1% thereafter. On Jan. 281918, $120,000 were held In sk. fd.
T he refund. & extension bonds cannot be called; $2,000,000 aro reserved to
retire 1st 5s and remainder for 8 0% o f cost o f additional property if net
earns, for 12 m os. previous have been twice the annual Int. charges on out-
M , 1918]
ay
ELECTRIC RAILWAYS
(iJ
standing bonds, Incl. those to be issued. A sinking fund o f J4 o f 1% on ou t
T he now Queensboro Bridge across Blackwell’s Island was opened in
standing bonds which began A ug. 1 1913 is to be Invested in these bonds at 1909. On Sept. 19 1909 the C ity o f N ew Y ork's municipal trolley across
n ot higher than a 4 >4% basis, bonds to be kept alive in fund.
On M a y 1 the bridge began operation. T he round trip fare is 5 cents. On D e c. 16
1918 $39,000 were held in sinking fund. T he first 81,000.000 issued as 6s; 1909 N ew Y ork & Queens C ounty R y . was granted a permanent franchise
rate on subsequent bonds to be at discretion o f board o f directors, but not to run cars over the bridge. Operation began on Feb. 5 1910. V . 90.
exceeding 6 % . See full particulars regarding bonds, property, & c., in p. 373. Through passengers only are carried across the bridge and no extra
V . 87, p. 414.
fare Is chargod.
N otes.— T h o 2-yoar notes are callable on 15 days notice, on any int. date
Strike.— See N ew Y ork R ys. on a subsequent page.
at 101 and in t., prior to Jan. 1 1919 and at 10044 and int. thereafter. N o
In M a y 1917 the com pany asked the P . S. C om m , tor relief from operating
now m ortgage having a prior claim to these notes m ay bo created whilo at a loss and was directed to make Its application m ore specific.
these notos are outstanding without including said notes under tho lien o f
STO C K A N D BONDS—
Interest. Outstanding.
M aturity.
the m tgo. A sinking fund o f n ot less than $5,000 per m onth Is provided Stock $5,000,000 ($J.00)r „ - r Date.
$3,235,000 .
for. Int. payable at office o f trustee on First N ational B ank, N ew Y ork. Flushing & College Point 1st . . . _
1895
5 g J-D
50.000
1925
D iv i d e n d s . — On pref., 6 % per annum paid up to and Including D ec. 1917
m ortgage
gold ____
On co m ., 1908, 2 % ; 1907, 4 % ; 1908, 4 14 % ; 1909. 8 % ; 1 9 1 0 ,8 % . In 1911. N ewtown R $50,000 m ortgage N ew Y ork Trust C o ., Trustee.
y first
1894
5 g J-D
150.000 D e c 1 1924
2 0 % . In 1912 to 1915, 1 0% . In Jan. 1 9 1 6 .1 % :July, 3 % ;D e c .3 0 ,2 % .
$150,000 g o l d ....................... N ew Y ork T rust C o ., Trustee.
In Juno 1917, 3 % ; D oc. 1917, nono (V . 106, p . 396.)
Steinway R y first m ortgage 1892
6 g J-J
1,500,000 July 1 1922
E A R N IN G S .— F or cal. years.
$1,500,000 ($1,000) g -----c* Int. at G uaranty T r. C o ., N . Y . C ity , Trus.
Year—
Gross.
N et aft. Tax. I n t .,& c .
Surplus. New Y ork & Queens C ounty 1896
4 g A-O
1,300.000 O ct 1 1946
$437,531
S214.054
$223,477
1 91 7 _______________ $1,125,603
first consol m tg $3,000,000 M ercantile T rust C o ., N ew Y o rk , Trustee.
gold $ 1,000 each__________
1 91 6 ....... .....................
934,972
403,572
210,820
192,752
Interest at office o f com p any. N ew Y o rk .
_
.
„ ----------.1
4 g M -N
See text
N o v 1 1936
R O A D .— Operates 39.59 miles o f track, including 12.10 miles o f double First & refunding m tge, $10,- 9 0 6
000,000 gold ($1.000)— c*?W Indsor Trust C o ., N ew Y o rk , Trustee.
track. Ralls, 70-Ib. and over. 26 open, 37 closed, 22 sem i-convertible and
..............
*4,795.623 ............
_
7 work cars; total, 92. Operates Forest Park, located a bou t 6 miles from Current liabilities D ec. 31 1 9 1 7 ........
* Includes $4,444,789 bills and accounts owing associated com panies.
the centre o f the city.
O f the new $10,000,000 m tge., $2,086,827 are deposited as collateral for
O F F IC E R S .— Pres., D . H . Cantrell; V .-P . & T reas., W . L . H em in gw ay. loans from Interborough R apid Transit and $3,065,000 are reserved for
Gen. M g r., Chas. J. Griffith; Sec. and A u d ., W . J. T h a rp .— V.106,p.715.
prior 1lens. N o sinking fund and bonds are not subject to ca ll. Under the
V . Y . & Queens C o . 1st con s. M . there were originally $2,500,000 bonds o u t
standing, but the com pany having defaulted in paym ent o f in t., reorganiza
LONG BRANCH, N. J.
tion was m ade, under which the holders surrendered $1,200,000, Interest
M O N M O U TH C O U N T Y E L E C T R IC C O .
was reduced to 4 % , and the M ercantile Trust C o .. N . Y .. was m ade the new
O R G A N IZ A T IO N .— Incorporated April 1 1901 as a reorganization of trustee. T h e said bonds are redeemable at 105 and Int. V . 69, p . 906.
R O A D .— T he system , with the Queens R ailw ay, embraces 70.62 miles o f
the Atlantic Highlands Red Bank & L ong Branch E lectric R y . In April
1903 was granted a 45-year franchise to operate in L ong B ranch, in co n trolley track. Including main line, 36.82 miles; second track, 31.95; sidings,
sideration o f which the town is to receive yt o f 1 % o f gross receipt*.
1.85. Rails 70 to 116 lb s., standard gauge: 228 pass, cars, 32 others.
R E P O R T .— For fiscal years ending June 30:
Receivers— Default.— On April 20 1916 Charles F. Sexton o f Long Branch
Year—
Gross.
N et.
Other In c. Int.T axes.& c. Deficit.
and \Vm. G . Botolor o f Red Bank were appointed receivers. In t. on bonds
has been in default for som e tim e. The property is advertised to bo sold 1916-17.......................$1.273.584de/$30,821
$2,843
S356.423
$384,401
at public auction.
1915-16.................. - - 1,435,765
56.806
2,156
353,533
294,570
1914- 1 5 . - .................. 1,365,041
30,963
2,006
345,321
312,352
S T O C K A N D B ON DS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
O F F IC E R S .— Pres., W . O. W ood; V .-P ., W . L . Pepperman: S ec., H .
Stock $500,000 ($50)...........................
..............
$325,000 ..............
First m tgo $500,000 ($1001 1901
4 g J-J
500,000 A pr 1 1951 M . Fisher: Treas., J. H . C am pbell.— V . 86, p. 548; V . 88, p. 375.
and 51,000) gold ------------ c*J In t. at Hamilton T r. C o ., B rooklyn, Trustee
M A N H A T T A N A N D Q U E E N S T R A C T IO N C O R P O R A T IO N .
Other debts. D ec 31 1916------ -------------------153,417 ___________
Receiver.— On N o v . 15 1917 Arthur C . Hume and William It. Begg were
R O A D .— Operates in and between R ed Bank and Long Branch and from appointed receivers b y Judge Catfield in the U. S. D ist. Court for the
R ed Bank to Oceanic. T otal track, 17.71 miles.
Eastern D ist. o f N . Y . In N ov. 1917 a Judgment against this com pany tor
$1,158,713 was awarded the Gas & E lec. Securities C o. on account o f unpaid
E A R N IN G S .— For calendar year 1915, gross, 576,355; operating eiroe
prom issory notes.
& c., $87,494; repairs, $19,844; deficit, $30,983. V . 102, p. 2254.
O R G A N IZ A T IO N .— Incorp. in N . Y . on N o v . 4 1912 to take over the
rights and property o f the South Shore T rac. C o. In New Y ork C ity (see
LONG ISLAND CITY, N. Y.
undor Patchogue, and also under Manhattan & Jamaica R y . in V . 95, d .
1207, 420; V. 94, p. 1696.)
v
T H E L O N G ISLA N D C O N S O L ID A T E D E L E C T R IC A L C O S.
Asked Public Service C om m , for permission to Issue $1,500,000 stock and
O R G A N IZ A T IO N .— E ntirestock is owned b y the Long Lsland R R . In
corporated in New Y ork. Owns one-half the stock (the Interborough Rapid $1,500,000 1st M . 5 % bonds, but on M arch 10 1914 the P. S. C om m , au th
Transit C o. owning the other half) and bonds o f N . Y . & L . I. T ra c. aud orized only $765,000 capital stock and recommended the issue o f $807,000
bonds at 85. N o stock outstanding; on ly $20,000 subscription stock.
Long Island Elec. R y.
A ction on the bond issue was deferred until tho com pany should have filed
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a t u r it y
Its proposed m tge. for $10,000,000 with the consent o f stockholders. V . 96,
Stock $25,000 ($100)................ All owned b y Long Island R R .
p. 790: V. 98. p . 523. In 1915 application was withdrawn.
Coll trust bonds $10,000,0001 1905
444 g
N on e
1945
E A R N IN G S .— For year ending June 30 1917, gross. $328,102: net, after
old, guarantood----------n t f /U . S. M tge. & Trust C o ., N . Y . Trustee
taxes, $83,788; other Income, $1,822; rents, $21,773; surplus. $63,837. In
o n d s . — A re guaranteed, principal and Interest, b y L ong Island R R .
1915- 10, gross, $291,815: net, after taxes, $82,488; other incom e, $2,960:
rents. $19,474; surplus. $65,974.
O F F IC E R S .— Pres., Ralph Peters; V .-P ., O . L . A ddison; Sec. Frank E
ROAD.— Ha* a franchise In the C ity o f N ew Y ork to operate a street
H aff, N . Y .: T reas., J. F . Fahnestock, Philadelphia.— V . 83, p! 890.
surface railroad over the Queensboro Bridge from the M anhattan term inal
(1) L o n g Isla n d E lectric R y .— A trolley road.
thereof, along Thom son A v e ., H offm an Boulevard, and other streets and
In Jan. 1906 control passed to the Intorborough R apid Transit C o . and
tho Long Island Consolidated Electrical Com panies, each owning one-half avenues in the Borough o f Queens to the boundary line between the C ity
o f New York and the C ounty o f Nassau, together with the right to operate
the stock and bonds.
upon the Queensboro Bridge. Tho line has been com pleted and cars are in
O R G A N IZ A T IO N .— Chartered M arch 13 1897 as N ew Y ork & N orth operation to the Intersection o f Sutphin R oad and Lam bertville A ve. in
Shore R y . On O ct. 11 1899 was consolidated with tho f o r m e r Long Island Queons. An additional 3.3 miles o f road from this point to Central A ve.
Electric R y ., now com pany having $2,100,000 capital stock and $2 100 000 and Springfield R oad was to have been com pleted b y A ug. 23 1917, but
bonds. On M a y 7 1902 the lines north o f Jamaica were sold under fore owing to war conditions, an extension or time has been granted b y the
closure to the Queens R y . C o ., which com pany was then merged in th* Board o f Estimate o f N . Y . C ity . T h e extension from the L. I. R R . sta
New York & Quoons C ounty R y . On A ug. 28 1903 old name o f “ Long tion at Jamaica to Lam bertville A ve. was com pleted April 26 1916. T otal
Island E lectric R y ." was resumed. In A ug. 1909 stock was roduced from miles single track equivalent. 21.
$2 , 100,000 to $600,000 b y cancellation o f $1,500,000 stock originally Issued
O F F IC E R S .— Gen. M g r., W m . W . Lowe; V .-P s., R . F. C arbutt and
to represent the piece o f road which subsequently becam o tho Queens R y
and now form s part o f the N . Y . & Queens C ounty R y . v . 89, p. 42, 593. H . B . W eaver; Soc. & Treas., Lindley G . Colem an; A sst. Sec. & Asst.
Treas., F. H . Adler.— V . 98, p. 523; V . 105, p. 2094, 2184.
STOCK A N D BON DS—
D a te .
In terest.
O u ts ta n d in g . M a t u r i t y .
Stock $600,000 ( $ 1 0 0 )............................................
$600,000
®
L I Elec 1st M 8600.000? 1895
5 g J-D
600 000 June' i ‘ 1925
LOS ANGELES, CAL.
($1.000)................... c & r .n t f Hamilton Trust C o .. I l f f i
T r u l.
P A C IF IC E L E C T R IC R A IL W A Y .
I Interest paid b y Treasurer. New York
All the stock except directors' shares is controlled b y Southern P acific C o .
E A R N IN G S .— For year onding D ec. 31 1917, gross, $251 124- not after
taxes $21,280. In 1916, gross, $215,166; net, after taxes,$7?900.
M r. H . E . Huntington owns considerable amounts o f the various b on d
xos,
R O A D .— Comprises 25.23 miles o f track on 16.30 miles o f road from Issues o f this com pany, and has pledged them as security under the H un ting
to n Land & Im provem ent collateral trust issue.
Crescent A vonuo, Brooklyn (at the terminus o f the Kings C ou n ty Elevated)
to Jam aica, n ollls and Queens, and from Jamaica to Far R ockaw ay
30
O R G A N IZ A T IO N .— Incorp. in California on Sept. 1 1911 as a merger
passenger cars and 8 others.— V . 8 8 ,!p. 101; V . 89, p . 4 2 ,5 9 3 ; V . 102, p.1540 o f the following subsidiaries o f the Southern Pacific C o . (V . 93, p . 687):
Pacific Electric R y.
San Bernardino Valley Traction C o .
(2 ) N ew Y o r k & L o n g Island T r a c t io n .— A trolley road
Redlands Central R y .
On Juno 20 1905 control was purchased join tly b y tho Intorborough Los Angeles Interurban R y .
Los Angeles & Redondo R y .
San Bernardino Interurban R y .
R apid Transit C o. and the Long Island C onsol. Elec. C os. V 80 n 2622
Los Angeles P acific C o .
O R G A N IZ A T IO N .— This was form erly the M Incola Hem pstead & Free Riverside & Arlington R y.
During 1912 acquired the right o f w ay and all rail lines and equipm ent o f
port Traction (incorp. F ob. 27 1899), but name changed as a bove Sent 22
the P acific E lectric Land C o . and purchased the property o f tho Ontario
1902, and stock increased from $125,000 to $1,000,000.
Fare Decision.— On June 15 1912 P . 8 . C om m ., 2d D lst , decided that & San Antonio Heights R R .
Operates under agreement over the Riverside R ialto & Pacific R R .—
com pany is n ot obliged undor Its franchise to limit itself to a 5-cent fare
passenger service only.
between Ilem pstoad and Belm ont Park. V . 94, p. 1696.
In Feb. 1917 the C al. R R . C om m , dismissed tho applications o f Palm s,
On Jan. 8 1918 the C ourt o f Appeals sustained the decision o f tho A p
pellate Division reversing that o f C ounty Judge James P. N iom an on Juno 22 Richardson, Bairdstown and certain sections o f H ollyw ood for a reduction
1914, which held that tho com pany, under its franchise, could not chareo In fares to a straight 5-cont fare to the city limits.
m oro than 10 conts for a 10-m ile rido. (V . 99. p. 407.)
cnargo
S T O C K A N D rB O N D S —
Date.
Interest. Outstanding.
M atu rity.
Stock $100,000,000 ($100)........................................$74,000,000
_____
S T O C K A N D B O N D S—
Date.
Interest. Outstanding. Last D ie
First ref m tge $100________
,000,000( 1911
5 M -S
32.015.000 Sept 1 1961
C om m on, $750,000 ($50)____ _____
________
$750,000
’
gold see text-------------- c * . t f Int. at U . S. M tge. & T r. C o ., N . Y .. Trustee
Prof 5 % cum $250,000 ($50)----------------------250,000 N o ’ dfv.’ yet
5 _ J-J
g
8,404.000 Jan 1 94 2
________________I
First m tgo $1,000,000 g o ld f 1902
444 g M -N 1.000 000 N o v 1 1942 Pac El R y 1st m tge $10,000, 1902
000 gold ($1 ,000) ------ c . n t f Int. at Union Trust C o ., San Fran., Trustee.
($1.000)................... c & r .n t f I n t e r e s t e d b yT rea su rC T .N ow Y ork
Los Ang & Pa* El R y M $1, 1898
5 g J-J
939,500 Jan l 1928
(Citizens Sav. & T r. C o ., Cloyoiand O True
000.000 g guar ($ 1 ,000) c* In t. at 111. T r. & Sav. B k ., C h ic., Trustee,
Bonds.— A re subject to call at 107 on 30 days’ notice, but no sinking rundi
Can bo called at 105___n t f
or at Chase N a t. Bank, New Y ork.
E A R N IN G S .— For years ending D oc. 31:
Ont & San A nt Heights 1st M
1910
6 F-A
233,000 Feb 1 1935
Year—
Gross.
(Net (aft. Tax.) Oth. Inc. In t., Rent. &c
Deficit
$ 1 ,000,000 ($1 ,0 0 0 ) s f . n t f In t. at Southern T r. C o ., Los A n g ., T rustee.
1917_____ $470,199
$69,657
S I,340
$71,578
$581
Pas & M t L 1st M $500,000 1900
4 g J-D
480.000 June 1 1930
43,192
1916_____ 413,987
987
69,615
25,436
gold ($ 1 .000) ............c * . n t f Int. at U nion Trust C o .. San F ran.. Trustee.
R O A D .— Operatos an electric lino connecting M inoola, Hem pstead and Cal Pacific R y 1st m tge gold 1901
5 g J-J
480,000 July 1 1941
Froeport, 7.84 m iles. Also operatos line from Hem pstead west 5 58
($ 1 ,000) guar------------ c . n t f In t. at C o .'s office in N . Y . & Chase N a t.B k .
miles to Queens, where connection is m ade with tho tracks o f tho L on a Los Angeles-Pacific RR first 1898
5 J-D
10,000 June 101928
Island Electric Ity. C o . Also a line 17.01 miles long from Freeport westerly
m ort gold $ 1 ,0 0 0 ,000c * . n tf In t. at Cltlz. T r. & S. B k ., Los A ng..T ru stee.
via R ockville Centro, Lynbrook and Valloy Stream, to a connection with the Los A ng-Pac RR 1st con m tge 1901
5 A -O
1,465.000 A pr 1 1931
Kings C ounty Elevated R y at B rooklyn. Also a lino from Queens to
$1,500.000 g ($ 1 .0 0 0 )..n t f Int. at Crocker N a t. Bank. San F rancisco.
M inoola via Joricho Turnpike, 5.80 m iles. T ptal, 36.29 miles
T otal
Los Ang Her B & Red 1st M
1902
5 g M -N
74.000 M a y 1 1942
including second track, 41.31 m iles. 30 passenger and 10 other cars.
’
$500,000 gold ($1,000)- n t f T itle Ins. & T r. C o .. Los A n g ., T rustee.
Los A n g e la -P a cific RR first [ 1903
5 g M -S
3.206.000 Sept 1 1943
O F F IC E R S .— Free., O . L . A ddison, Penn. S ta., N . Y .: V -P & Gen
and ref m tge $5,000,000 Int. at Los Angeles T r. & S a v .B k ., T r ., or at
M g r., W . O . W ood , Long Island C ity , N . Y .; Sec. & T reas., F ra n kE Haff"
gold ($ 1 ,0 0 0 ) s f ____ c * _ n tf
U. 8 . M tge. & "rust C o ., N . Y ., C o-T ru s.
Penn. R R . Station. N . Y . — V .9 4 ,p . 1690; V . 99. p. 407; V . 102, p . 1541.
Los Angeles P acific Co gen f 1906
5 g J-J
1.173.000 Jan 2 1946
consol m tge $12,500,000 Int. at Union T rust C o .. San F ran., Trustee,
N EW Y O R K & QU EEN S C O U N T Y R Y .
gold ($1,0CK)) sinking fund
or at F arm ers'& M erch. N a t. B ank. L o.
32.018 shares out o f total issue o f 32,350 Is owned b y the Interborough
Angeles, or Chase N a t. B an k. N ew Yorks
c .
Rapid Transit C o ., which also owns one-half o f the stock o f the Long Island Los A ng-Pac C o 1st ref *mn t f 1910
tge
4 g J-J
8,293.000 Jan 1 1950
Electric R y . and tho N ow York & Long Island T raction.
B
$2 0 ,000,000 g ($ 1,000) c * t f Union T rust (A), o f San F ran., Trustee.
O R G A N IZ A T IO N .— Incorporated June 29 1896 and reorganised on Los Ang * R edondo 1st m tge 1902
5 g J-J
470.000 Jan 15 1932
Juno 30 1899. Purchased tho various lines o f railroad in L ong Island C ity
8« 0 0 ,0 0 0 g ($1 ,000) - c * . n t f Int. at Union Trust C o .. San F ran., Trustee,
known as the N ewtown R y . C o ., tho Rlker A ve. & Sanfords Point R It., the
and R R . c o ’s office,
Y . C ity .
Steinway R y ., the Long Island C ity & N ow tow n R y . and the Flushing & Riverside & Arlington 1st M
1899
4 F -A 14
200.000 Aug 14 1919
College Point Ity. In M a y 1902 tho Queens R y. was consolidated with It
$200,000 g o l d --------------n tf Int. at Union Trust C o ., San F ran., Trustee.
and thereupon Increased its stock from $2,500,000 to $5,000 000. T h e San Bernard Vail T rac 1st M
1901
5 A-O
44,000 O ct 1 1931
Queens R y. succeeded to the property sold at foreclosure o f the N ow York
gold $250.000..........c * _ n tf Title Ins. & T r. C o .. Los A n g.. Trustee
& N orth Shore I ty ., com prising a line o f 6 miles from Flushing to Jamaica
San Bernardino Valley T r 1st 1903
5 g M -S
777.000 Sept 1 1933
with franchises for lines between Flushing and College P oint. Flushing anti
& ref mtge $ 1 ,000,000 gold Int. at Los A ng. T r. & S. Bk. o f CaL.Trustee
Baysido and M anhasset. V . 74, p . 1197.
sink fund ($ 1 .000)c* & r.n tf
g
62
[Vol. 106.
ELECTRIC RAILW AYS
C n d g .— in t. on 1st & ref. M . bonds Is payable at office o f trustee.
Interest. Outstanding. Maturity.
BON DS—
Date.
$50,000 A ug 1 1919 Bankers Trust C o ., N ew Y o rk , and b y arrangement a t Anglo & London
6_ _
F-A
Redlands St R y 1st M g $50.-\ __
1899
000 ($1,000, &c) redeem(T itle Ins. & T r. C o ., Los A n g., Trus. Paris N at. B k .. San Fran. Bonds are not subi. to call. Bonds have sk. fd.
!™
o f $10,000 per month (Incl. s. f. on underlying bonds) to be invested In
In t. at First N a t. Bank, Redlands, Cal.
at par; no sink fu n d -- n t f
5 M -S
27,000 Sept 1 1931 first & ref. bonds at 105 and int. or less, or in approved securities; first
Redlands St R y 1st M gold 1901
Title Ins. Sc T r. C o ., Los A n g., T rustee. & ref. bonds purchased for s. f. to be kept alive. $802,000 bonds are held
$150.000..........
n tf
In sink. fund. V . 92. p. 262; V . 94. p . 138 3: V . 95, p. 1273. On 30 days
In t. at First N a t. Bank, Redlands, Cal.
1907
5 J-J
50,000 July 1 1937 notice Int. m ay be m ade payable at the National C ity B ank, N . Y . Int.
Redlands Central R y 1st M
gold $500,000 ($ 1 .0 0 0 )-n tf In t. at Los A ng. Tr.& S B .o f C a l.. T rustee. on the Los Angeles T rac. issue paid at Chase N at. Bank, N ew Y ork. $52.
000 Los Angeles R y . M . bonds In sink. fd . and $248,000 canceled. C ity R y .
_____ ______
„„„„„
T otal bonds outstanding D ec. 31 1916...................... $58,446,000
C o . o f L. A . 1st M . bonds have a sink. fd . o f 2 % per annum o f principal
B O N D S .— Pacific Elec. Ry. 1st ref. mlge. are to provide fu n ds to retlro am ount o f bonds which began Jan. 1 1916; $154,000 bonds in sink. fund.
underlying bonds; also for acquisitions and tor corporate purposes. Bonds to
E A R N IN G S .— For years ending D ec. 31:
bear Interest at sucb rate or rates as m ay be fixed at time o f issue b y d irec
Fiscal Year—
Gross.
Expenses.
Wei.
Int. A Taxes, surplus.
tors. not exceeding, however, 5 % per annum, T h e bonds are Issued in
1 9 1 7 __________$6,148,011 $4,063,218 $2,084,793 $1,548,594 $536,199
series. Series " A ” being the only series Issued. D onom . Series A $1,000
1 9 1 6 __________ 5,864,561
3,715,940
2,148,620
1.543,434 605,186
— other series. $1,000. $500 and $100. Sinking fund $10,000 per year.
3,954,537
2,183,424
1,556,209
627,215
Series “ A ” Is subject to call from Sept. 1 1916 at 110 and Int. Other series 1 9 1 5 _________ 6,137,963
subject to call since Sept. 1 1916 at price to be fixed by board o f directors.
P R O P E R T Y .— Comprises 390.984 miles o f track; 60. 72, 87 and 118-lb.
Pacific Elec. Ry. 1st M lge.— A sufficient am ount is reserved to retire rails. Owns and controls 875 passenger cars, o f which 524 are o f P -A -Y -K
prior issues. Sinking fund is $5,000 per annum , com m encing Jan. 1 ty p e . 183 center and 168 mlsc. cars, and 104 work cars. & c. Has favorable
1907. for 5 years; then $10,000 per annum to Jan. 1 1917; $15,000 per pow er contract with the Southern California Edison C o .; the current being
annum to Jan. 1 1922; $20,000 per annum to Jan. 1 1927; $25,000 per distributed through tho corporation’s own transmission system , com prising
annum to Jan. 1 1932; $30,000 per annum to Jan. 1 1937 and $35,000 annu 440.5 miles o f lino and 10 sub-stations.
ally thereafter, said sinking fund to be used In purchase o f the bonds, but
O F F IC E R S .— Pres., H . E . H untington; V .-P . & G en . M g r.. H^oward
fund m ay be Invested In other securities If bonds cannot be obtained at par. Huntington; Sec. & Treas., O. A . Henderson.— V . 97. p . 621, 1733, V . 98.
Los Angeles A Pasadena ls l M tge.— Bonds bear the guaranty or the Los
p . 523; V . 100, p . 1348, 1438; V . 101, p . 370; V . 103, p . 320.
Angeles Ity. b y end. Sink, fund o f $10,500 per year out o f net earns, from
D e c. 1 1908 to and incl. 1926; callable at 105 on any int. date.
Pasadena A M t. Lowe bonds are guar. p. & L b y both Los Angeles R y .
LOUISVILLE, KY.
,
and Los Angeles & Pasadena Klee. R y . A sinking fund tor those bonds b e
L O U IS V IL L E R Y . C O .— O R G A N IZ A T IO N .— Incorp. in K entucky
gan 10 years from date o f bonds o f $5,000 per ann. for first 5 years, $7,500
on Jan. 22 1867 and owns all the street railways in the C ity o f Louisville
per ann. for second 6 years, $10,000 por ann. for next 5 years and $12,500
and its suburbs. Franchises are partly for 99 years from 1886 and partly
per annum for remaining 5 years. R ed. at 104 and interest.
California Pacific Ry. ls< M tge. is for no stated authorized am ount, but perpetual. ^ j g j j the com pany filed amended articles o f Incorporation In
is lim ited to $20,000 per mile o f com pleted track. N o sinkin g fund and
bonds cannot be called. Guar. p. & 1. b y Los Ang. T ra c. C o .; see V . 75, p.7 6 . creasing its auth. pref. stock from $2,500,000 to $3,500,000 and its com .
stock from $5,500,000 to $8,500,000, in connection with the dissolution o f
T itle Insurance & Trust C o .. Los Angeles, Trustee.
. , ,
,
. ._
Los Angeles-Pacific RR. ls< M tge.— R ed . on any int. date at 105 and int. the Louisville T raction C o .
T h e Louisville & Interurban R R . has been organized in tho Interest o r
Sinking fund began June 10 1908 until June 10 1926. $ 10,500 per year ou t
o f net incom e on ly . In t. also payable at Illinois T r. & Sav. B ank, C h ic., the Louisville R y . to construct a system o f urban and lutorurban linos. N o
securities have been Issued except $4,000,000 stock (in c r e a s e to that
aaL o ? h % Y e s -P a c ific 'l^ '. Jsl Cons. M tge.— N ot callable. Sinking fund amount In February 1913) to Louisville R y . C o . In L in. 1911 Louis
^
began A pril 1 1911 and retires $10,500 annually (out o f net earns, only) to ville & Interurban R R . acquired the Louisville & Eastern R R . (all o f whose
and incl. April l 1929. 0111x603’ Trust & Sav. B ank, Los Angeles trustee. bonds, construction notes, receivers certificates, & c., and abou t all the
Los Angeles Hermosa Beach A Red. Ry. 1st M lge.— I n t . payable at Crocker stock, was owned b y Louisville & Interurban), sold at foreclosure on Jan. 3
N at. B ank, San Fran. Sink, fund began M a y 1 1913 and retires $10,500
^ D isso lu tio n ’o f Holding Co.— On N o v . 22 1917 the LouIsyllie rractlon C o ..
per ann. (out or net incom e only) to and incl. M a y 1 1942. N o t callable.
Los Angeles-Pacific RR. 1st A Ref. M I m .— Su fficient bondsi are reserved to which owned ail the stock o f tho Railway com p any, was dissolved in order
to reduce Federal and State taxos. Preferred stockholders exchanged their
retire prior liens. A sinking fund began in 1908, to which $50,000 per ann,
Is payable firs t 6 years, $60,000 per ann. next 5 years, $70,000 per ann. stock for Louisville R y . preL stock on a sharo-for-sharo b a sis; holders o f
next 5 years, $80,000 yearly follow ing 5 years, $90,000 per ann. next 5 years. com m on stock received seven-tenths o f Railway com m on for each share o f
$100,000 yearly follow ing 5 years and $150,000 per ann. thereafter. N o t
Increases '.— An Increase In wages o f 3 cents per hour was givon all
*°iLm Angeles Pacific Co. d m . Consol, bonds have a sink, fu n d, 1911 to 1915. the com p a n y’s platform m en, offectivo N o v . 16 1917. On April 1 1918
$10,000 per ann.; 1916 to 1920. $15,000 per ann ; 1921 to 1925, $40,000 another 3 cent increaso was awarded the m en.
M aturity.
a n n ’ 1926 to 1930, $75,000 per ann.; 1931 to 1944, $80,000 ann., and 1945
STOCK A N D BONDS—
D ate.
Interest. Outstanding.
$8,623,600 A p r ’ 1 8 ,lH %
to 1948, $90,000 per ann. O f the $12,500,000 auth.. $5,000,000 are re C om m on $8,500,000.............................
---3.500,000 AprJ’ 18,214 %
served for prior liens. Bonds are n ot callable.
. . .
P ref 5 % cum $3,500,000..............- - _ A&O
$3,509,U U
U ------.
. w. R
--------- ■
-» l v l v
5 g F -A
4,035,000 Fob 1 i960
Los Angeles Pacific Co. 1st Ref. M tge.— Subject to call as a whole or in Louisville _ y gen m tge gold 1910
part on and after Jan. 1 1915 on any int. date at 105 and int. on 3 m onths
$20,000,000 (S l,0 0 0 )--c * t f Interest at German B an k, Louisvl lo.
5 g J-J
6.000,000 July 1 1930
notice. Interest payable at com pany’s office or agency In N ew Y ork . Louisville R y cons M gold 1890
Sinking fund o f $5,000 per annum began in 1910. G u ar., p . & 1„ b y South$6,000,000 (listN Y ) . . c * t f Int. at N ational Bank o f C om m erce, N . Y .;
Fidelity-C ol. T r. C o ., Louisville, Trustee.
2,000.000 M a r 1 1940
e r Birerside A °A rlington Ry. 1st M lge.— N o t callable. Sink, fund began Louisville R y 2d m tge, $2, 1900 4 j ^ g M - S
Sept. 5 1900 as follow s; A fter paym ent o f exps. and Int. the entire not in
000,000 gold ($ 1 ,0 0 0 ).. _tf Interest at Gorman B ank, Louisville.
B m d s ' - i s ^!ooToOO o f t¥e gen m ^ e . bonds o f 1910 are reserved to retire
com e and entire not proceeds from sale o f property applicable under trust
deed to bo set aside each year to and incl. 1904; In 1905 and thereafter until prior liens; the remainder is for extensions and Im provem ents. B onds are
all bonds are paid, 7 5% o f net Income and proceeds from sale o f property. not subject to call. F idelity-C ol. T rust C o ., Louisville, trustee.
Dividends.— 5 % is being paid on prof, stock. 4 % was paid on the old
Redlands St. Ry. 1st M tge. 5 % Bonds.— $50.000'a r e reserved for the
previous issue o f 6 % bonds. N o sinking funds and bonds are not callable. Traction com m on stock u p to tim e o f dissolution. DIVs. o f 1 % each were
V Redlands Central Ry. 1st M tge.— Sinking fund began July 1 1912 and retires paid on Railway com m on in Jan. and April 1918.
$1,000 por annum to July 1 1917. $2,000 next 5 years, $3,000 per annum fo l
R O A D .— T he Louisville R y . C o . owns 175 H miles o f track on 7 7 ^ miles
lowing 5 years. $4,000 next 5 years and $5,000 following 5 jrrs. N o t callable. or street, with 13H milas outside city limits; all is elec trie. Affordsi entrance
Los Angeles A Redondo 1st M tge.— Sinking fund retires $10,000 per annum into Louisville for the Lou. & N or. R y . & L tg. C o . and L ou. & Sou. Ind .
out o f surplus and net earnings. Bonds are not redeemable.
T ra c. C o . T h e Louisville & Interurban operates 102 m iles o f track in JefSan Bernardino Valley Traction 1st M tge. bonds are subject to call a t 105. forson C ou n ty, Incl. extensions to La Grange and to Shelbyville in Oldham
In t. payable at First N a t. Bank, Redlands, and at First N a t. B ank. and Shelby counties.
R E P O R T .— F or fiscal years ending D ec. 31:
^ S cm iern a d in o Valley Trac. l i t * ref. M tge. bonds a rered . at 105. Sin*.
fund retires at 105 and int. 12 bonds during 1913-15 (incl.) during 1916 pays
o ff 13 bonds; during 1917 14 bonds; during 1918-27 pays o ff 25 bonds y rly .;
during 1928-30 37 bonds y rly .; 1931 and 1932 38 bonds each year.
Ontario A San A n t. Heights 1st M tge. bonds are red. at 101 and Int.
Sink
und 1914 a n d following 4 years 1% o f outstanding bonds. 2 % thereafter.
E A R N I N G S — For years ending D ec. 31:
Interest,
Balance, for depreciation, leaving $6,023. In 1916 $85,000 was doductod for depre
Cal.
Gross
N et (after
Other
D eficit.
Rents, A c .
ciation, loaving $6,265.
Year—
Earnings.
Taxes).
Income.
O F F IC E R S .— Pros., T . J. M inary; V .-P ., A . P . H um phrey; Sec. &
--- - $2,490,313
---------1917____________ $9,267,130
$3,296^849 $982‘ 459 T reas., Samuel G . B oyle.— V. 105, p . 1708, 1802, 2184.
2,261,823 $52,567
1916...................... 8,664,467
697,240
3,147,048
2.416.292
33,516
______
1............................. ....
915............- ____ 8.999,761
IN D IA N A P O L IS & L O U IS V IL L E T R A C T IO N R Y .— A trolloy ro a d .
R O A D .— Operates an interurban electric railway system centering at
L os Angeles, extending Into the counties o f Los Angeles, San Bernard no
ORGANIZATION.— Incorp. In M arch 1912 In Indiana as succM sor to
Riverside and Orange and serves the cities o f Pasadena, San Bernardino the Indianapolis & Louisville Traction C o., sold at foreclosure on M arch 21
Riverside, C olton , Redlands, Pom ona, Ontario, Santa A na, Long Boach, C o 1912. V . 94, p. 911. Franchises in cities and towns are for 50 years from
rona, Venice, Ocean Park. Santa M on ica, R edondo, San Fernando, Owens- 1905; remainder is on private right o f w ay.
m outh and Lankershim.
Total miles operated, single track, l,0 6 4 .o 2
STOCK A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
o f which 613.69 miles main track, 315.33 miles second and other m ain track
...................“
and 135.51 miles o f sidings and turnouts. Standard gauge. 46 electric Com m on stock 5600,000...................................... ..
locom otives, 1 steam locom otive. 671 m otor cars and 1,165 non-m otor
s 'g 'A - 0
848JOO A prU T ii> 42
cars- 3 power stations. 44 sub-stations and 4 portable sub-stations. K f E S r t S w I S f f l o O ' i l i i i 2
Power purchased from Southern California Edison G o.
O F F IC E R S .— Pres., Paul Shoup; Sec. & A u d ., H . A . Oullodon, Los
Angeles; T reas., I. W . Heilman, San Francisco; Gen. M g r., 3 . M cM illa n . a t8 0 % o fc o s t * Subj. to call on any int. d a te a t 1 0 5 a n d ln t. S ln k .fu n d o f
General offices. Pacific Electric B ld g.. Los A ngelej.— V .9 9 , p . 1367, 1598. 2 % per annumTbegan Oct. 1 1917. Increasing 1 % each year to and Including
April 1 1921, then reduced to 1% por annum thereafter.
1675; V . 101, P- 132; V . 102, p . 251; V . 103. p . 1687.
E A R N IN G S .— For year ending D ec. 31 1917, gross, $185,964; net, after
taxts, $84,360. In 1916, gross, $148,411; not, after taxos, So6,538.
R O A D .— 40.9 miles o f track from Sollersburg to Soym our. Cars run
owned b y M r . H . E . H untington,and, along with certain amounts o f differ
ent bond issues o f this com pany and the Pacific Electric R y . (soe a b o v e ), Is from Sellersburg to Louisville over tracks o f Loulsvlllo & Northern R y . &
pledged as security for the Huntington Land & Im provem ent collateral L tg C o . and from Seym our to Indianapolis over the tracks o f the Ind. C ol.
& South. (Interstate Public Service C o r p .). T hrough cars from Louisville to
tn T h e L o T A n g e le s H y^Com panv was organized
2 1913 to merge the Indianapolis were put into operation in 1908. Standard gauge; 7o-lb. T rails.
O F F I C E R S — Pres. & G en. M g r., John E . G reeley. Scottsburg. In d ..
Los Angeles R y . Corporation and Its subsidiary, the C ity R y . C o . o f Los
Angeles8(V . 97. p . 1733). but on M arch 5 1915 the C al. R R . C om m , denied V .-P .. M ark Storeu, Scottsburg, In d .; S ec., N athan G . E ystor, li t t s Its application to issue $20,000,000 stock in exchange for the $20,000,000 burgh. P a .; T rea s., Jas. O . Chaplin, P ittsburgh, P a .— V . 100, p . 733.
stock o f the R y . Corp. and the $5,000,000 stock o f the C ity R y . and to
execute a m tge. under which $23,544,000 bonds were to be Issued In ex
L O U IS V IL L E & N O R T H E R N - R A IL W A Y & L I O H T I N O .
change for outstanding bonds o f the tw o com panies or bonds assumed by
I n t e r e s t s Identified with t h e M i d d l e W e s t U t i li t ie s C o . a r e in c o n t r o l .
them . V . 100, p . 901. 982. T ho Los Angelas Railway Corporation
O R G A N I Z A T I O N . — I n c o r p o r a t e d u n d e r t h e g e n e r a l r a il r o a d la w s o f
was incorporated In California on N ovem ber 7 1910 as successor to Los Indiana In D ec. 1Q05. $916,900 o f t h o $1,000,000 s t o c k o f t h e United
Angeles Railway and acquired all the city narrow-gauge lines owned Gas & Electric C o. and $232,950 stock o f the N ow A lbany W ater-W orks
by Pacific E lectric Railw ay and Los Angoles Interurban R ailw ay, and
deposited
p a n y’s
those portions o f Los Angeles & R edondo R y . and California-Pacific C o are ent o f the under this comIndianam tge. Has purchased tho electrical
&
and leases the
R v C o lying north o f an east-and-west line running through H awthorne equipmyears, thus Kentucky independentBridge C o.Into Louisville. bridge
affording
entrance
C om and Athens, thus comprising all the street railway business o f Los Angeles. forn25 o e s electric lighting and oxpross and freight.business in addition to
pa yd
V. 91, p . 1386. M ore than 85 miles o f track is on private right o f w av. All
business. R oad is m ainly on
w ay.
,
main line and practically all down-tow n line franchises oxtend beyond 1940 . nassenger In M a y 1918 this com p a n y’s prlvato right o f increased freight
p pates.—
application for
Owns entire $5,000,000 stock o f the C ity R y . o f Los Angela*. Incorporated rates was tentatively approved b y tho Inter-State C om m . C om m . V . 106,
In D ec. 1910 to build new lines for the corporation. V . 91.J?. 1766.
Favorable Decision.— In a decision handed down April 6 1915 the D istrict p . 1901.
M aturity.
Dale.
Interest. Outstanding.
STOCK A N D BONDS—
C ourt o f Appeals In Los Angelos sustained the right o f the com pany to
$3,499,000 .....................
charge 10-cent fares from the city to Eagle R o ck . Glassel and other points C om m on $3,500,000— ------------------916.900
See text
Pref $1,500,000 Series^A^s B . — —
in that district. See V . 100, p . 1438.
500,000 D oc 1 1925
5 g &
STOCK A N D BONDS—
D ate.
Interest. Outstanding.
M aturity.
S9D 000 000
____ ___
$20*000*000 ----------------auu
| Trustee, or at E liot N a t. B an k, B oston.
L o s A n g le s R y CorpTst &YefT 1910
5 g J-D
14 .8 50.000 D ec 1 1940
Bonds.— Unissued bonds can only be Issued for 8 0 % o f cost o f property
u M $20,000,000 g ($1,000) (■
Los Angeles T rust & Savings B ank, Trustee, built or acquired. Are subject to call at 105 aud int. V . 82. p . 368.
sinking fu n d ____________ c*l
s t o c k — The Series A pref. stock Is 6 % cu m ., tho Sories B i s cu m . and
5 g A -O
4.752.000 O ct 1 1938
Los A ng R y M ' 35',0003)00 1899
is entitled to 2 % i n 1906. £ % t o 1907. 4 % in 1908. 6 % In 1909 and 6 % In
gold ($1,000 each)-------- c* In t. at Union Trust C o ., San F ran., C a l.. I r .
1898
5 g J-D
250,000 D oc l 1938 19D ( r i d ^ 0— Dividends from July 1 1906 on both classes o f prof, stock
Los Angeles T ra c 1st cons M
gold $250,000 ($1.000)------ St. Louis Union T r C o ., St. Louis, T rustee. were paid at rates called for up to April 1909, when M % was paid on both
1911 5 F-A
4.196.000 Feb 1 1941 I
C ity R y o f Los Angeles 1st M
classes; same am ount quarterly since to April 1918.
$5,000,000 ($1,000) gold .c* In t. at Los A ng. T r. & S. B k ., Los A ., T ru s.
S&,*2SS..
A,iSSS..
S
i
Ma y , L'Jis.j
ELECTRIC RAILWAYS
63
R O A D . — Operates 20 miles of track, Louisville to Sellersburg, with a line
branching off at Watson and running to Charlestown. At Sellersburg
connects with lud. & Louisv. Trac. Ry. Co., running to Seymour, where
connection I made with the Ind. Col. & So. (Interstate Public Service Co.),
s
thus forming a through lino between Louisville and Indianapolis. The
line from Louisville to Charlestown will form part of a through line between
Louisville and Cincinnati. Standard gauge. 70-lb. T r i .
al
OFFICERS.— Pres., Chester P. Wilson, Indianapolis; V.-P., Harry
Reid, Louisville, Ky.; Sec., Ira E. Guthrio, Indianapolis; Treas., J. I .
f
Stratton, N e w Albany, Ind.— V. 82, p. 509, 886; V. 94, p. 1626; V. 106, p.
1689, 1901.
D iv i d e n d s . — Quarterly divs. of 14$ % on pref. stock were paid from Jan. 1
1913 to Jan. 1 1915, in l ; none to Oct. 1917, when regular quar. divs. of
c.
14$ % were resumed.
R E P O R T . — -For year ending Dec. 31 1917: Interest and divs., $300,550;
less inti charges, salaries and expenses and taxes, $229,81o: divs. on pref.
stock, $7,500; surplus, $63,235. In 1916, interest and divs., 3249,619;
total deductions, $201,705; surplus, $47,914. The combined results of the
company and i s subsidiaries, with inter-company items eliminated, were;
t
Gal. Year —
Gross.
Net (aft. Tax).
Interest.
BaL.Sur.
$544,515
$426,801
$117,714
1917-.............. $1,093,412
1916-------- ---- 950,855
487,361
399,571
87,790
P R O P E R T Y . — Through controlled companies operates entire electric
railway and gas business in Macon; furnishes electric light and power in
(1) U n ited G a s & E le c tr ic C o.
O R G A N I Z A T I O N . — Incorporated in Indiana In 1902 and acquired the Macon. Monticello, Forsyth, Barnesville, Griffin, Jackson, Jonesboro,
el
N e w Albany Gaslight & Coke Co., N e w Albany Light, Heat & Power Co., Bibb, Thomaston and Hampton, Ga.; also s l s a large amount of electricity
Atlanta.
Jeffersonville Electric Light, Heating, Gas & Coke Co. and Jeffersonville in O F FICERS.— Pres., Geo. A. Toby; V.-P., J. D. Evcritt; Sec. & Treas.,
Light & Water Co. Does entire gas and electric-lighting business In New
Albany and Jefforsonvillo, and supplies also Port Fulton, Silver Grove and F. B. Lasher; Asst. Sec. & Asst. Treas., W. E. Fulcher.— V. 104, p. 1382.
Clarkville. F r a n c h is e s , 45 years in N o w Albany and 50 years in Jefferson 1400; V. 105, p. 290; V. 106, p. 1124, 1577.
(1) Macon Railway & Light Co.
ville from 1902; In other towns from 20 to 40 years. Guarantees the
Entire common stock i owned by Georgia Lt.. Power & Rys.
s
S250.000 first mortgage bonds of N e w Albany Street Ry. Co.
O R G A N I Z A T I O N . — Incorporated In Georgia on Oct. 23 1902 by the
H a l e I n c r e a s e s . — In April 1918 the Kentucky P. U. Co m m . auth. the co.
to increase gas rates at tho Jefferson plant from SI to $1 20 net. An in Railways & Light Co. of America as a consolidation of the Macon Consoli
crease of 15% in N e w Albany was also granted.1 These rates are to remain dated Street Ry., the Macon Electric Light & Ry., the North & South
Macon Street Ry. and the Metropolitan Street Ry
The city ordinance
in effect for tho duration of tho war. V. 106, p. 1692.
permitting the consolidation, passed on Sept. 16 1902. granted a 50-year
STOCK A N D B O N D S —
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
f r a n c h is e .
For terms, see V. 75, p. 733.
Stock $1,000,000 (S100)
.............. -- $1,000,000 ..........
Control of tho Georgia Public Serv. Corp. (incorp. In Ga. In M a y 1912)
First mtge $750,000 ($1,000) ( 1902 5 g J-J
648,000 See text
was acquired in Oct. 1913 by interests friendly to the Macon Ry. & Lt. Co.
gold________________ c*{Interest at American Trust & Savings Bank,
1286.
1 Chic., Trus., and at Eliot Nat. Bk., Bos. and Central Georgia Pow. Co. V. 97, p. sanctioned the Issue of $700,000
In June 1914 Georgia RR. Commission
First consolidated mortgage! 1904 5 g J-J
750,000 See text
additional common stock, making the total $1,600,000.
$1,500,000 gold ($500 and) Interest at American Trust & Savings Bank,
STOCK A N D BONDS—
D a le . .
D a te
II n t e r e stt . O u ts ta n d in gg , M a t u r i t y .
n teres .
O u ts ta n d in .
$1,000).. ........ — c*l Chic., Trus., or at Eliot Nat. Bk., Boston.
($100)______
_____
___
. S900.000
$900,000
B o n d s . — $648,000 f
irst consols are reserved to retire a like amount of C o m m o n $1,600,000 6 % c u m .....
Pref $300,000 ($100)
6 A-O
300.000
See text.
first 5s; and $102,000 have boon retired. Both issues maturo serially from Macon Ry & Lt 1st cons mtge J 1903
~"
5 g J-J
959.000
1907 to 1942, but tho bonds of 1902 may bo called at 105 and i t.; the now
n
g $1,000,000 ($1,000) -c*tfllnt. at Equitable Tr. Co., N.
Int. a
consols are callable after July 1 1924 at 105 and int. Soe V. 79. p. 2458.
__
42.500 _
J5 g.J-J.
Y e a r e n d . J u n e 30—
1916-17. 1915-16. 1914-15. 1913-14. 1912-13. Macon Elec Lt & Ry 1st mtge) 1899 Equitable Tr. Co.. N. Y., Trustee.
$100,000 ($500) gold-c*tf\lnt. at
Gross earnings......... $404,393 $334,033 $331,595 $334,730 $317,625
B o n d s . — Macon Ry. & Lt. 1st consols are subject to call on any Interest
Operating exp. and taxes.. 283,890 218,363 230,304 221,579 202,361 date at 110 and Int. $41,000 bonds. $12,300 com. and 316.400 pref. stock
Savannah Trust Co. to retire
Net earnings..........$120,503 $115,670 $101,291 $113,151 $115,264 aro held byremaining out. See V. 76, p. the $42,500 Macon Elec. Lt. &
bonds
212.
Interest, &c... ........ 87,682
84,648
80,859
76,728 73,454 liy.iv i d e n d s . — 6 % per annum has been paid s.-a. on pref., 1903 to April
D
Balance.............. $32,821 $31,022 $20,432 $36,423 $41,809 1918,Ainclusive. and operates about 36.26 miles of track, a l of which has
R O D . — Owns
l
O F F I C E R S . — P r o s ., H a r r y R e i d , L o u i s v i l l e , K y . ; V . - P . , J a s . W . D u n
been re-laid with 70-lb. r i s 56 cars.
al.
b a r , N o w A l b a n y , I n d . ; S e c . - & T r e a s ., J . F . S t r a t t o n , N o w A l b a n y , I n d .
E A R N I N G S . — For years ending Dec. 31:
— V . 8 5 . l) . 7 3 7 , 1 4 6 6 ; V . 1 0 6 , p . 1 6 9 2 .
(a)
L ou isv ille& S o u th e r n I n d ia n a T r a c t io n C o .
O R G A N I Z A T I O N . — Incorp. In Indiana under tho General Railroad
Laws In 1903, and I successor to tho Southern Indiana Interurban Railway
s
Co. Leases tho N e w Albany Street Railway Co. for 25 years from Aug. l
1903 (with privilege of renewal for 25 yoars) at a yearly rental of $500, the
Int. charges and taxos and dlvs. of 4 % on $100,000 preferred stock. V. 77,
p. 769. In Sept. 1904 acquired tho Highland RR. for $10,000 In bonds.
V. 79, p. 1643. In Doc. 1905 acquired the JeffersonvIUo City Ry. Sea
V. 81, p. 1792. F r a n c h i s e s are for 50 years; also permitted to carry freight.
F a r e s . — I n M a r c h 1 9 1 8 a p p l ie d f o r a u t h . t o in c r e a s o fa r o s b e t w e e n N o w
A l b a n y a n d J e f f e r s o n v ille a n d b e t w e e n J e ffe r s o n v ille a n d L o u i s v i llo f r o m
5 t o 10 c e n ts e a c h .
F r e i g h t H a t e s . — I n M a y 1 9 1 8 t h is c o m p a n y ’s a p p l i c a t i o n fo r in c r e a s e d
fr e ig h t ra te s w a s t e n t a t iv e ly a p p r o v e d b y th e I . - S . C . C o m m .
V . 106, p .
1901.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
C o m m o n $2,000,000 ($10)................ $2,000,000 ..... ...
Prof 6 % cum $1,000,000 ($10)___
-........
432,480
---First mortgage $1,000,000 ( 1903 5 g M-S15
990,000 Sopt 15 1923
gold ($500 and $l,000)-.c*ilnt. at Amer. Trust & Sav. Bank, Chicago,
l and U. S. Trust Co., Louisville, Trustees.
N e w Albany St R y $250,0001 1902 5 F-A
250,000 Aug 1 1927
($1,000) guar prin and lnt-JInt. at U. S. Trust Co., Louisville, Trustee.
B o n d s . — 1st M . bonds have no sk. fd., but aresubj. to call after 10 yrs. at
105 & int. Soe V. 77, p. 769, 2339. N e w Albany St. Ry. bonds are subj.
to call on any lut. date at 105 & int. and are guar, by United Gas & Elec.
R O A D . — Operates 33 milos of track. Including 104$ miles leased from
N o w Albany Street Ry. and also lino between N e w Albany and Jefferson
v l e and city lines In Jefforsonvillo. An extension to Louisville was com
il,
pleted in Sept. 1905. Has a contract with “Big Four” RR. for the use
of Its bridge over Ohio River and with Louisville Railway Co., allowing I s
t
cars to enter Louisvillo. Has erected an Interurban terminal on Third St.,
Louisville. Girder rails, 90 l . T and girder r i s 75 and 77 4$ lbs.
bs ;
al,
OFFICERS.— Same as for Louisv. & Nor. Ry. & Ltg.Co.— V. 106,p.1901.
McALESTER, OKLA.
C H O C T A W P O W E R & L I G H T CO.
O R G A N I Z A T I O N . — Incorp. in Delaware on June 27 1916 to take over
the light and power business of the Choctaw Ry. & Lighting Co. sold at
foreclosure (V. 102, p. 1539) and owns a l tho $445,000 1st M . bonds and
l
tho entire $600,000 capital stock of tho Pittsburgh County Ry., incorp. in
Oklahoma Juno 24 1916, to tako over tho street railway properties.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
C o m m o n $1,000,000--..................... $1,000,000 ..........
Pref 7 % cum $250,000..........
.
250,000 .........
First mtge gold ($1,000 and! 1916
5 g M-S
1,063,000 Sept 1 1941
$500)..... ........ c*tf IInt. at Guaranty Tr. Co. of N. Y., trustee.
B o n d s . — Opon lssuo authorized. Inapt, fund of 1 % per annum from
1921-1925:1 H % 1926-1929:14$% 1930-1933; 1 M % 1934-1937:2% 1938-41.
E A R N I N G S . — Combined earnings of tho Choctaw Power & Lt. Co. and
the Pittsburg County Ry. Co. for year ending Dec. 31 1917, gross, $294,761;
net, $106,384; other income, $2,845; deprec.. $29,486; charges, $48,494;
surplus, $31,250.
R O A D . — Tho Pittsburg County Ry. oporates in c ties of McAIester and
i
Hartshorno, and an Interurban line, over private right of way, between the
two citi s 23.26 m. of track. Standard gauge; r i , 66-70-lb. T. 12
e.
al
passenger cars, 7 other cars.
OFFICERS.— Pros., O. N. Mason, N. Y.; V.-P., J. A. Trawick, Boston;
Sec.-Treas., S. M. Bachman, N. Y.: Gen. Mgr., W. H. Vorco, McAlestor,
N. Y. office, 71 Broadway.— V. 103, p. 940.
MACON, GA.
G E O R G I A LIGHT. P O W E R & R A I L W A Y S . ( S ee m a p o n p a g e 6 2 ) . —
O R G A N I Z A T I O N . — Is a voluntary association formed under Massa
chusetts laws In Sept. 1911. Has acquired a l the com. stock of Macon Ry.
l
& Light Co., practically a l tho com. & pref. stocks of Macon Gas Co.,
l
$3,660,000 [of tho $4,000,0001 stock of the Central Georgia Power Co. and
tho entire capital stock of tho Central Georgia Transmission Co. Also
owns $2,003,194 6 % securities of I s constituent companies Issued for
t
new construction. &c.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
C o m m o n $8,000,000 ($100).................. $7,660,000 ..... .
Pref $2,000,000 6 % n-c ($100)___
Q-J
500,000 Apr T8. 14$
First lieusk. fd. $6,500,000/ 1911
5 M-S
3,489.000 Sept 11941
gold ($1.000)----- c*&r..\New York Trust Co.. N e w York, Trustee.
Conv dobs $1,000,000 gold 1917
6 F-A
Seo text Feb. 11920
Demand notes------------ ----------641,150 ________
S tock a n d B o n d s . — Pref. shares are callable at 110 and are pref. as to prln.
and dividend: are listed on Pittsburgh Stock Exchange. C o m m o n stock
I listed on tho Pittsburgh, Chicago and London stock exchanges. The
s
remaining $2,583,000 first lien bonds are reserved under careful restrictions
for acquisitions of other securities and for extensions and Impts. Bonds are
secured by deposit of a l tho securities owned by Ga. Lt., P. & Uys. $291,000
l
(not inch hi amount reported outstanding) are held in tho treasury and
$137,000 have boon retired by sinking fund. Red. at 105 & int. on any
int. dato on 30 days’notice. Prin. & int. payable at office of A. B. Leach
& Co.. Inc., N. Y.. or Bank of Scotland, London. Annual sinking fund.
$50,000 1916 to 1920. $75,000 1921 to 1925, and 3100,000 1926 to 1940!
V. 93, p. 1532. Bonds are listed on Chicago, Pittsburgh and London stock
exchanges. $705,000 debentures have been issued, of which $35,000 aro
outstanding. Tho remaining $670,000 are deposited as collateral to de
mand notes of tho company. Tho debentures of 1917 aro convertible Into
pref. stock.
Y e a r e n d in g
G ro ss
N e t (a ft e r
In terest o n
P r e f. D iv .
B a la n c e ,
D e c . 31—
E a r n in a s .
T a x es).
B on d s. & c .
"
'
(6%).
S u r p lu s .
1917.... ..... $559,053
$202,882
S102.043
$17,016 $83,823
1916--------- 496,717
108,244
98,411
-... .
17,016
52,817
OFFICERS.— Pres., W m . H. Felton; V.-P., P. G. Gossler; Sec., R.
hrnnlr .Tnno«* Treas., T T Thames T* — V 07 T l
r
A OQfi- V mi v
x
Frank Jones; Trooa J. J. Thranihc Jr.— V. 97, p. 1286; V. 101. p. 694.
(2) Macon Gns Co,
O R G A N I Z A T I O N . — Incorp. In Ga. In 1852. Was formerly Macon Gas
Lt. & Water Co., but In Oct. 1911 transferred I s water plant to the city.
t
and changed name to present t t e Controls entire gas business of Macon
il.
Practically a l tho $475,500 com. and $20,000 pref. stock i owned by Ga.
l
s
Lt., Power & Rys. Company has no bonds.
E A R N I N G S . — For years ending Dec. 31:
D e c . 31
G ro s s
N e t ( fte r
a
In terest
P r e fe r r e d
B a la n c e
Y ears—
E a r n in g s .
T a x es).
o n N o te s .
D iv s .
S u r p lu s .
$51,455
$15,810
$1,000
S34.645
1917.... .... $168,745
1916 -------134,615
42,781
12,635
1,000
29,146
Has 3 gas holders and over 54 miles of mains, &c. Output now exceeds
38,000,000 cu. f . por annum.— V. 93, p. 942, 1537: V. 99. p. 1455.
t
( Central Georgia Power Co.
3)
Georgia Lt., Power & Rys. owns $3,660,000 stock.
O R G A N IZ A T I O N . — In c o r p . In G a . o n M a r c h 4 1907 as B ib b Pow. Co.
a n d In J a n . 1908 c h a n g e d n a m e to p re se n t t it le . B e g a n o p e r. J u n e 1 1 9 1 1 .
STOCK A N D BO NDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $4,000,000........ ................. $4,000,000 ____
Mtge $3,000,000 g ($1,000,1 1908
5 M-N
2,856.400 M a y 1 1938
$500 & $100. or £ oquiv-) Empire Trust Co., N e w York, Trustee,
alent)__________ c*&r*_|
Bonds.— Int. on bonds i payable at office of A. B. Leach & Co., Inc.,
s
N. Y., or Bank of Scotland, London. Subject to call at 105 and int. for
sinking fund or any or a l at company’ option on any int. day. Sinking
l
s
fund of 1 % of bonds out began in 1913. V. 88. p. 1199. $143,600 bonds
in sinking fund.
E A R N I N G S . — For 12 mos. ending Dec. 31:
Year—
Gross.
Net, aft. Tax. Bd. Int., &c.
Surplus.
1917--------------$455,158
$296,446
S218.826
$77,620
1916--------------406,636
278,750
213,664
65,086
P R O P E R T Y . — Owns hydro-electric plant with a capacity of 24,000
electric horso power on Ocmulgee River, near Jackson. Transmission
lines extend to Macon, Forsyth, Jackson, Bibb, Barnesville, Thomaston
and Griffin, connecting at tho last-named point with the line of the Central
Georgia Transmission Co. (whoso entire capital stock and bonds aro owned
by Ga. Lt., Power & Rys.),running to Hampton, Jonesboro, Monticello and
Atlanta. Total length of transmission lines ( n l Cent. Ga. Trans. Co.).
ic.
137 miles.— V. 93. p. 1536, 1670.
MADISON, IND.
MADISON LIGH T & RAILWAY CO.
O R G A N I Z A T I O N . — Incorp. in Indiana July 25 1896. Operates 4
miles of street railway in Madison and supplies light and power to Madison,
North Madison, Hanover, Kent, and rural district. F r a n c h is e s expire 1952.
S T O C K A N D BONDS.
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity ,
Stock, $150,000__________ _____
________ $150,000
_____
First mtgo $150,000 gold\ 1912
6 J-J
147.000 July 1 1 9 4 2
($1,000)____________ tfIPittsburgh. Pa.. Tr. Co., Trustee
Remaining bonds are reserved for add’ and Impts. at 9 0 % of cost.
ns
S in k in g fu n d of $1,000 per annum from July 1 1917 to 1922 and $2,000 an
nually thereafter, callable at 1024$ and int.
EARNINGS.—
G ro s s
N et
In su r. &
B ond
B a la n c e .
Y e a r e n d in g —
E a r n in g s .
E a r n in g s .
T a x es .
In terest.
S u r p lu s .
Dee. 31 1917------ $59,475
S14.889
$1,925
$8,820
$4,144
Dec. 31 1916...... 59,111
20,275
1,619
7,740
10,916
Dec. 31 1915...... 53,538
16,483
1,323
6,840
8,320
OFFICERS.— Pres., Treas. & Gen. Mgr., M . F. Tennis; V.-P., Chas.
O. Tennis; Sec. & Aud., M . Robinson.— V. 98, p. 1767.
MADISON, WIS.
MADISON RA ILW AYS COMPANY.
O R G A N I Z A T I O N . — Successor In M a y 1910 to the Southern Wisconsin
Ry., for statement of which see this Section for M a y 1916. F r a n c h is e s
expire in 1932. 1938 and 1944.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
Stock $600,000 ($100)...................
$350,000 ...... .
1st mtge $1,500,000 g ($500/ 1916
5 g M-N
852,000 M a y 1 193#
and $1,000)_______c*-tfllnt. at Wisconsin Tr. Co.. Milw., trustee.
3-ycar notes ($200,000) gold) 1916
6 g M-N
200,000 M a y 1 1919
and $1,000)_____ c*(lnt. in Chic. Wise. Tr. Co., Milw., trustee.
i— Additional bonds may be Issued for extensions, additions, &c.,
.
for 8 0 % of cost under conservative restrictions. Red. at 1024$ and Int. on
any Int. date on 60 days' notice. A sinking and Improvement fund of 14$ %
per annum of bonds outstanding begins M a y 1 1919 for redemption of
bonds or Improvements, &c. The notes are redeemable at par and Int.
on any lut. dato on 30 days' notice. The following payments aro required
to bo made Into an Improvement fund for the redemption of notes or for
Improvements, &c.: M a y 1 1916, $15,000; Nov. 1 1916 and M a y 1 1917,
$12,500; Nov. 1 1917 and M a y 1 1918, $15,000, and Nov. 1 1918 and
M a y 1 1919, $17,500. $70,000 has been paid Into fund.
E A R N I N G S . — For year ending Dec. 31 1917, gross, $296,550; net, after
taxes, $96,972. In 1916, gross, $300,051; net, after taxes, $104,665.
S
ELECTRIC RAILWAYS
(54
[Vol. 1C6,
G E O R G I A
&
AND
GAINESVIU^fe^
c h e r o A>
\
CANTONv
^~\v
e
e
R A I L W
P O W I
A Y S
IT S S U B S ID IA R Y
M ACON
S Y T H
J
V
CUMMING
L IG H T ,
C O M PAN IES.
and A T L A N T A , G E O R G IA
F 0 R
Aj“
•ENTRAL GEORGIA POWER CO., AND
)
Ct.TRAL GEORGIA TRANSMISSION CO., >
TRANSMISSION LINES IN OPERATION. )
ALPHARETTA \
0
I L ': T
N
Roswell o
s
/
tTXINSVM.LE
X O c o \n e
'T -O--- N
MONROE
^LEXINGTOIO1
0 G L E J H 0 R P-E
T
,
e
v
\Stophen
/
X f E N S 8 0 R o Y nAWF?R^V,L“
Siloam \%
„
c,
\
]>» /
White' P la in s o X
..
A Mafchen
R
G . ^.
EATONTON
"
P 'JU y<’
"
\N
a
J oX /
,
/
/
M
/M O N T IC E L U ?
SPA
Indian-Spr. B \<Oi.
GF;'
m
./
"
yJ I
‘ V W!TTSICilY
y
pPftlflj
, tS> EESTSWiTY SUPPLIED v
.
v
C E N T R A L G E O R G I A P O W E R C O i Nona
"
J L G E E RIVER P L M J T
°
2^, O O O fT . ^ C A P A p i J ' &
R-
\
*Y )
.
A
Milner;
Milner
Redenvllle^ y '/ z e g u l c n / ?
P y I/
K
\E _
<
E!ARNESVILLE>/~*
ElSCl^ieiTY JUPPtlElXY/
8
FORSYTH
k' J
o
A
w i N
v
L
illedgevilI e
.n (
M
_S(riarrsJ
. Slooumb
SEMP N
TA U
“ HPCPiT y
. . AA t
Bolinobroko
. Yatesville
1A C
E C G Y IIP K D 0
lE ljH IT iS P E
LIGHT
[
a
L
B 0
T
! TALBOTTON
^’
Gordon
A
,8 CO.
/
T
*
Z ander!
C
-
R
~Dzella
Y<^
® KNOXVILLE
A \ W F O R D
a \ . /
? «.
\ x
^ A T L A N T A 'ATHENSA
*-• \
m
\ ®
V „
\Brl i
CifN
.B f LE V . E
Ai 3 U L
THCMAS70N
-•(------
<
r
O 3T K
R T,
X
\
T'Sl
X .
7
»G E QVE \ G* I‘ A f), X
v
r>\
A
©MACON
,
, X
COLUMBUS
*
*
*
Yb.GLETHORP
A
f|£
SCALE' OF MILES
\
V
X A
n
<\
M A C O N ,
GEOI
SHOWING STREET RAILWAY
OF THE
or the
/ J , M a con Railway & L
IB
Ma y , 1918. |
ELECTRIC RAILWAYS
R O A D . — Owns 17 miles of standard-gauge track. Including Hues In Madi
son. and extension to Fair Oaks, Elmside, Lake Park Cemetery and South
Madison.
OFFICERS.— Pres., F. W . Montgomery; V.-P.. Dudley Montgomery:
Sec. & Treas., Warren Montgomery; Supt., D. Montgomery.— V. 103, p.
320.
MANCHESTER, N. H.
M A N C H E S T E R T R A C T I O N , L I Q H T & P O W E R CO.
ORGANIZATION.— ’
Incorporated in 1901 In N o w Hampshire and com
prises the several light, power and street railway properties In and around
Manchester and the light, power and gas property In Nashua. Tho com
pany owns the stock of tho Manchester St. I y., Manchester & Nashua St
t
Ity. (name changed from Goffs Falls Litchfiold & Hudson St. Ity. in Fob.
1907) and Manchester & Derry St. Ry. In Jan. 1918 purchased tho wator
rights of tho U. S. Bobbin & Shuttle Co.
F r a n c h is e s perpetual. Interurban roads and main transmission lines
on private right of way, except through c ties and towns
i
On Oct. 9 1916 the I . S. C o m m , of N e w Harnp. auth. the Manchester &
»
Nashua St. Ry. to Increase I fares from 6 to 7 cents, effective Oct. 16
ts
1916, but recommended the retention of existing rates for school children
and the sale of commutation tickets on a 5-cent fare basis.
Stockholders of record Aug. 22 1917 were given the right to subscribe
for $184,000 stock pro rata at par, making $3,864,000 outstanding. Pro
ceeds were for retirement of floating debt, new construction and Irnpts.. &c.
V. 105. p. 2184.
In Dec. 1917 Issued $1,360,000 6 % c l , trust notas to refund $1,000,000
ol
5 % notes duo June 1 1918 (which wo have eliminated from tho table), and
to provido for certain important construction and water power dovolopmonts already nearly completed.
STOCK—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
Stock $5,000,000 (1100)...
Q-J 15
$3,864,000 Apr.’ 2 %
18.
1st consol mtge (closed) $2.-/ 1901 5 g A-O
914.000 April 1 1921
000,000gold ($l,()00)c*ntf(Interest at American Trust Co., Boston, Tr.
Manchester & Nashua 1st I 1906
5 g J-D
200.000 June 1 1920
M gold $300,000 ($l,000)tf (int. at American Tr. Co., Boston. Trustee.
M a n & Derry St Ry 1st mtge/
1907 5 J-D
125,000 Doc 1 1927
$500,000 ($1,000) guar..tf 1Int. at American Tr. Co.. Boston, Trustee.
First Ref M Sink Fund g $15,-\ 1917 5 g F-A
,1.642.000 Aug 11952
000,000($1,000 c*; $5,000 r/Int. at American Trust Co., Boston, trustee.
Convertible notos $1,500,000/ 1918 6 g J-J
1,360,000 Jan. 11920
($500 & $1,000) gold___ c* (Int. at American Trust Co., Boston, Trusteo
B o n d s . — Tho Manchaster & Nashua St. Ry. and tho Manchester & Derry
St. Ry. bonds aro guaranteed, prln. & Int , by Man. Trac., Lt. & Pow. Co.
.
Both mortgages aro closed.
Tho f rst ro . mtge. sinking fund bonds wero Issued to rotiro floating debt
i
f
and provido for new construction, &c. After April 1921 will bocomo a fir t
s
mtge. on a l property now owned. $1,600,000 aro deposited as collateral
l
to secure convertible notes. Additional bonds may bo issued for re
funding and for acquisitions, undor guarded restrictions, but not in excess
of twice the par value of outstanding stock. S in k in g f u n d of 1 % of bonds
outstanding on each Aug. 1 beginning 1919, to bo applied to purchaso of
bonds at not to exceed 105 and Int. Bonds purchased to be held alive.
Call at 105 and int. V. 105, p. 909.
N o t e s . — The c l . t . conv. notos are convertible after July 1 1918, or,
ol r
i called for redemption, up to 10 days prior to redemption date, into an
f
equal amount of 1st r f 5 % bonds at a valuation of 9244 and In . Are
o.
t
secured by $1,600,000 1st rof. M. bonds. Subject to c l , a l or in multi
al l
ples of $100,000, at 101 and int. on 30 days’ notice after July 1 1918.
V. 105, p. 2543; V. 100, p. 86.
P ROPER T I E S . — The different roads controlled comprise 65.595 miles
of track, as follows; Manchester Street Railway, 42.842 miles; M a n
chester & Nashua Street Ry., 14.335 miles; Manchester & Derry St. Ry
8.418 miles. 107 passenger and 18 mlsc. cars. 4 hydro-electric plants
present capacity approx. 11,500 h. p.; 2 steam reserve stations at M a n
chester with a combined capacity of approx. 10,900 h.p. and 1 steam reserve
station at Nashua with capacity of approx. 2,000 h.p. Also owns water
rights along tho Morrimac River.
D iv i d e n d s . — -First dlvldond of 3 % on July 15 1901; paid 6 % per annum
to and including 1905; 7 % in 1906; sinco 8 % por annum. 5 % extra
dividend in 1911-12.
R E P O R T . — Of tho Manchester Trac., Lt. & Power Co. and subsidiary
companies for yoars ending Dec. 31:
Y ea r end.
G ro ss
N e t (a fte r
In terest.
B on d S in k -
B a la n c e f o r
D e c . 31. E a r n in g s .
Tazes).
A c.
in g F u n d .
D iv s .,& c .
1917_____$1,590,655
$625,605
$187,455
_____
$438,150
1916_____ 1,486,885
b42,903
144,199
$2,250
496,454
OFFICERS.— Pros., E. O. Fostor; V.-P. & Gen. Mgr., .. Brodie Smith
1
Treas., P. L. Saltonstall; Asst. Treas., Robert Haydock; Clerk. Edwin F.
Jonos.— V. 105, p. 909, 998, 1802, 2184, 2543; V. 106, p. 86, 396, 929.
MARION, ILL.
C O A L B EL T E L E C T R I C R Y .
In 1904 passed Into control of the St. Louis Iron Mtn. & Sou. Ry. Co.
Stock authorized and outstanding, $300,000; par of shares, $100.
E A R N I N G S . — For fiscal year end. June 30 1916, gross, $84,190; not,
$20,762; taxes, Ac.. $2.76<; Interest, $18,553; deficit, $558.
R O A D . — Operates 15.33 miles of track from Marlon to Oartorville and
Herrin. Standard gauge. 52 to 70-lb. T r i .
al
OFFICERS.— Pres., J.G. Drew; V.-P., A. Robortson; Gen. Mgr..
J. F. Murphy; Sec., F. VV. Irlaud: Treas., F. M. Hickman; Gen, Aud.,
J. G. Llvergood, St. Louis; Supt., H. H. Berry, Illrno. Mo.
MARION, OHIO.
C O LU M B U S MA 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 of the Columbus Marion A Bucyrus ftS , sold undor foreclosure por
.
plan V. 96. p. 1488. 1839.
STOCK A N D BONDS—
D a te .
In te r e s t.
O u ts ta n d in g .
M a tu r ity
Stock, $350.000........... -...........
$350,000 .........
First mtge. $100.000--- -_tfl914 6 % g
42.000
1934
GenARef M . $350,000. goldtf 1914 See text.
250,000
1944
B o n d s . The 1st M . 6s are red. at 1024$ and hit. on any Int. day.
—
Remaining $58,000 l held by trustee pending construction of power-house.
a
The Interest on the gen. & ref. mtge. bonds I 3 % for the 1st and 2d
s
years. 4 % 3d and 4th yoars and 6 % thereafter. $100,000 resorved to
retire 1st M. bonds. V. 96, p. 1488, 1839.
E A R N I N G S . — For cal. year 1916, gross, $36,808; not, after taxes,
$8,168. In 1915, gross, $32,019: not, after taxes, $6,467.
OFFICERS.— Pres., Oeo. Whysall; V.-P. & Treas., Jas. H. Caldwell.
Troy, N. Y.; Sec. & Asst. Treas.. R. O. Oswald.— V. 99. p. 196. 537.
MA R IO N & S U B U R B A N R A I L W A Y CO.
H e c e ie e r s h ip . — Int. due Oct. 1 1909 I In default, in Feb. 1910 Geo. Why.
s
s i was appointed receiver. Suit has been brought against tho directors
al
for an accounting of the proceeds of bouds. The hearing was begun before
U. 8. District Judge Hollister at Cincinnati on Oct. 19 1914. V. 99, p- 1528.
O R G A N I Z A T I O N . — Incorporated in Ohio Sept. 25 1908 to build the
necessary extensions of truckage to the local Marlon City lines demanded
by the City of Marlon. 144 miles completed; none in operation; no work i
s
being done.
STOCK A N D BONDS—
D a te.
I n te r e s t.
O u ts ta n d in g .
M a tu r ity .
Stock, $250,000..................... ...
$250,000 ........
First mortgage, $250,000./ 1908
5 g A-0
250.000
1936
gold ($500)------------ (Interest at Cincinnati Trust Co., Trustee.
B o n d s . — Subject to call after 1912 at 110. Sinking fund of $5,000 per
annum after 1912.
OFFICERS.— Pros., Goo. H. Holzbog; V.-P.. J. G. Webb; Treas.. N. J.
Oatrow; Sec.. U. B. Ilane.— V. 99. p. 1528.
MATTOON, ILL.
CENTRAL ILLINOIS PUBLIC SERVICE CO.
C o n tro lle d b y M id d le W e st U t ilitie s C o ., w h ic h see In o u r " R a ilw a y &
In d u s t r ia l" Soctlon .
O R G A N IZ A T I O N . — In c o r p . In Illin o is In 1902 as tho M a tto o n C i t y R y .
a n d on A u g . 25 1910 cha n ge d Its nam e to the a b o v e . V . 9 1 , p . 6 5 5 . t ip
to A u g u st 1 1912 d id a n e le ctric lig h t, pow er a n d h e at b usiness in
M a tto o n a n d a n e le c tric lig h t a n d p ow e r b usiness In C h a rle s to n a n d K a n s a s .
65
HE. besides operating street railways In Mattoou and Charleston and an
Interurban railway between those two points. Since Aug. 1 1912 has ac
quired numerous additional public service properties and now serves 138
communities with an estimated served population of 325,000. The 138
communities are served with electricity, 7 with gas, 11 with water, 10
with ic , 8 with heating and 5 with street railway service, and operates the
e
electric interurban line between Mattoon and Charleston 1 1
1
A c q u is i ti o n A u th o r i z e d .— I n Feb. 1918 was auth. by the Illinois P. U.
C omm, to purchase a l the outstanding capital stock of tho Southern '
l
Illinois Ry. & Power Co. V. 106, p. 931.
In Nov. 1913 increased auth. capital stock from $6,000,000 ($3,500,000
com. and $2,500,000 prof.) to $10,000,000 ($5,000,000 each). V. 97, p.
auth’ st?ck wa3 further Increased to $7,500,000 pref,
and $7,500,000 common. V. 103, p. 406.
v
fn 3an- 1918 applied to the Illinois P. U. Comm, for auth. to issue $500,
000 bonds.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
V
C o m m o n $7,500,000 ($100).. .............. . Se.OOO.OOl)
I r f6% cum $7 500,000($100) ....
-e
Q-J
3.255.600 Ap'r'TS'l K
First and refunding mortgage/ 1912 5 F-A
10.412,000 Aug 11952
gold ($1,000)-------c*tf (Interest payable In Chicago.
Underlying bonds (closed issues)...
________
767.500
--------110.000 ......1923
Debentures----------------S to c k .— Pref. stock I red. at 110 and div. Has f l voting power. Taxs
ul
exempt In I l n i . Registrar. I I Trust & Savings Bank. Chicago.
lios
I.
B o n d s .— T he firs t a n d re f. bonds a re re d . a t 105 on a n y in te re s t d a te .
A d d itio n a l bonds m a y be Issued u n d e r c e rta in re stric tio n s . See V . 95 p .
1744. F o r s o c u rlty o f b o n d s, see V. 103. p. 1887. C o n t . & C o m m . T r u s t
& S a v . B a n k , C h ic a g o , trustee.
D iv i d e n d s . —
6 % i being paid on preferred stock.
s
E A R N I N G S . — For calendar years:
Y ea rs en d .
G ro s s
D ec. S I.
E a r n in g s .
N e t a ft e r
O th er
I n te r e s t
P r e f . D io s . B a la n c e ,
T a xes.
In c o m e. A c .,C h q s .
(6%)
S u r p lu s .
.....$2,448,050 $871,658 $26,338 $615,496 $194,418 $88,081
1916..... 2,169,648 849,093
30.060 552,053
193,500 133.600
P R O P E R T Y , Ac.— The co. operates over 923 miles of high-tensloa trans
mission lines, 7 central stations, holds 10 stations In reserve and has con
ifor power from 4 other central stations. Total available capacity.
60,000 h. p.
OFFICERS.— Chairman of the Board, Samuel Insull; Pros., Marshall
E Sampsoll; V.-P.. G. W. Hamilton; Sec. and Treas., C. E. Gripe.—
V. 105. p. 910; V. 106, p. 497, 931, 1036.
MAUCH CHUNK, PA.
C A R B O N T R A N S IT C O .— A trolley road.
O R G A N 1 Z A T I O N . Incorporated In July 1908 in Pennsylvania as a re
—
organization of the Carbon Street Ry. sold at foreclosure sa'e M a y 16 1908.
Property I being Improved by reconstruction, new equipment, J
s
cc., in
cluding the development of Flagstaff Park on Flagstaff Mountain, which i
s
850 foot above and overlooks the picturesque Mauch Chunk.
F a r e I n c r e a s e . — -In April 1918 was auth. to increase fares from 5 to7
cents, now schedule to remain in effect during the war and 18 mos.thereafter.
STOCK A N D BONDS—
D a te .
I n t e r e s t . O u ts ta n d in g .
M a tu r ity .
Stock $150,000 ($50)......................
$150,000
1st mtge $150,000 (MOO and f 1908
5 g F-A
150.000 Aug"l" 1938
$500) gold--------- c*tfjInt. at Mauch Chunk Trust Co., Mauch
,
. „
______
1 Chunk, Pa., trustee.
a*®?** mt?° *f?0000 «oldf 1910
5g J-D
48.100 June 1 1940
($100 and $500)----- c*tf(Int. at Mauch Chunk Trust Co., Trustee.
B o n d s . — First mtge. bonds may be called at 105 and int.on any Int. day.
Second mtge. bonds are red. In any amount on any int. day at l05.
E A R N I N G S . — For years ending Dec. 31:
N et.
}916........... 552.871
1915........... 55,276
1914.......... 65,347
$18,640
15,557
20,835
1913............................. 51.6 37
C h arges A T a x e s .
$12,850
12,548
11.753
17,481
10,798
S u r p lu s .
$5,790
3.009
9 082
e !6 8 4
N o t e . — Earnings for 1915 and part of 1916 were affected by unfavorable
weather conditions aud Insufficient power during changes and enlargement
of power system to utilize the large banks of cheap fuel owned by the co.
R O A D . — Comprises 1244 miles of track; 24 cars. Owns about 425 acres
ot valuable real estate. Including 75 acres on "Flagstaff Heights."
OFFICERS. — Pres.. W m . Dods: V.-P.. O. H. Lotta: See. A Mgr.. J. F.
Geiser, Mauch Chunk; Treas., Geo. H. Mayer.— V. 106. p. 1688.
MEMPHIS, TENN.
M EM PH IS S T R E E T R A IL W A Y C O .
American Cities Co. (see under N e w Orleans) owns 86% common and
48% preferred stock.
O R G A N I Z A T I O N . — Chartered In Tennessee on March 28 1895 and con
solidated with the Citizens’St., East End St., City & Suburban and Mernhls & Raleigh Springs l n s franchiser -un until Nov. 1945. The Supreme
ie;
Ourt has confirmed tho co.’ franchises In a l respects, including the right
s
l
to charge 5-ceut fare. (Compare V. 85, p. 654: V. 100. p. 1752.) Owns
and operatos the entire street railway business of the city. incl. suburbs of
Binghamton, Raleigh Springs and South Memphis aud a line to Lake
View, Miss.
In Mar. 1913 purchased the property (excluding the bulldlug owned In
Memphis and the car barns) of the Lakeview Trac. Co. (sold at foreclosure
In Sept. 1912) for $180,000 paymeut to be made I 20-year Lakeview
n
Traction bonds bearing 2 % in . for 2 years, 3 % for 3 years, 4 % for 8 years
t
and 5 % for the last 7 years. V. 98, p. 883.
City O rd in a n c e N o t Y et E n fo r c e d .— On Mar. 13 1914 Chancellor Fentress
granted an Injunction restraining the city from enforcing a vexatious and
unreasonable ordinance which was to have become effective Mar. 14 1914.
For details of the ordinance see V. 98, p. 912.
S trik e S e ttle m e n t — A g r e e m e n t . — See V. 103. p. f f g
ii.
F a r e s . — In Mar. 1918 applied to the Board of City Commissioners for
auth. to incroaso fares from 5 to 6 cents. V. 106, p. 1126.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g
M a t u r it y
C o m m o n $2,500,000 ($100)............... .
$2,500,000
See text
Preferred $2,500,000 5 % cum}
($100) rod at 110 A accrdivsj... .. .... .
2.500.000 June’17. 244
Cons mortgage $10,000,000/ 1905 5 g J-J
8.324.000 July 1 1945
gold (see text) closed.c*Ar] Int. at Central Trust Co.. N. Y.. Trustee.
Gen mtge $30,000,000 gold/ 1915 6 g M - N
See text Nov 1 1935
($100 & $1.000)._c*___ tf(Guaranty Trust Co., N. Y.. Trustee.
2-year collateral gold notes/ 1917
0 g M-N
1.250.000 Nov 1 1919
($1.000)......... C e n t u m , at N. Y. Trust Co.. N. Y., Trustee.
One-year notes---------- - 1917
6%
250.000
1918
6%
8-4.000
To 1924.
Equipment trust.......... 1914
B o n d s . — Tho consol. M. bonds are In denom. of $1,000 coupon and $10.
000 registered. Are not subject to c l . Sinking fund $25,000 per annum,
al
1910-14: $30,000. 1915-19; $35,000. 1920-24; $40,000. 1925-29. aud $50,000
1930-45. See V . 82, p. 628. 1498- $260,000 held alive In sinking fund;
remaining $1,416,000 deposited as security for c l , gold notes. Mortgage
ol
closed. $512,000 gen. M. bonds aro deposited as c l , for 2-year notes.
ol
During l f of notes total Issue of gen. M. bonds cannot oxceod $650,000 ex
ie
cept with consent of two-thirds or collateral noteholders. Of the unissued
general mortgage bonds. $9,822,000 are reserved to retire the consol, mtge.
bonds and remaining $19,666,000 are for add'ns, exts.. Ac.. under certain
restrictions. Red. at 102 4 and Int. on any int. date. V. 101. p. 1886.
4
The 2-yoar c l , notes due Nov. 1 1919 wero issued to provide funds for the
ol
paymeut of $1,500,000 notes due Nov. 1 1917. They are callable in
whole on 30 days' notice at 10044 and int. Socured by $1,416,000 consol,
intge 5s aud $512,000 6s.
D i v i d e n d s . — On prof, stock 5 % was paid from Issuance up to and Including
Dec. 1914. In 1915, none. In 1916, Dec., 2)4%. In 1917. June. 2 V4%.
None since. On conimou, f r t div.— 1 % — paid June 1912. In 1913,
is
March, 1%; Dec., 1%. In 1914, June, 44%; Dec., 244%; none since.
R E P O R T . — For year ending Dec. 31:
S
Y ear.
G ro ss E a r n s . N e t a ft.T a te s . A c .
I n t.O th .D e d u c ,
1917.......... $2,130,116
1916.......... 2.086,468
$807,754
869,535
$532,556
547.819
1915........................ 1,684.109
637,049
553,839
S u r p lu s .
$275,198
321,715
66
[Vol. 106
ELECTRIC RAILWAYS
R O A D . — Owns 140.8 miles of track Rails. 60 to 80-lb. T to 107-lb.
girder. 328 passenger and 27 miscellaneous cars.
OFFICERS.— Pres. & Gen. \lgr.. Thos. H.'Tutwiler; V.-P., L. E
Wright, Sec. & Troas.. W. I . Burroughs; Aud., L. Le May.— V. 103, p.
I
666; V. 105, p. 1802, 2184. 2365; V. 106, p. 1126.
MILWAUKEE, WIS.
THE WISCONSIN EDISON CO.. INC.
O R G A N I Z A T I O N . — Incorp. in N. Y. on Nov. 7 1912 to take over the
North American Co.’ holdings In Milwaukee and other Wisconsin public
s
u i i i s Owns or controls, through stock ownership, the following cos.:
tlte.
Milwaukee Light, Heat & Trac. Co. I
North Milwaukee Light & Power Co.
Milwaukee Elec. Ry. & Light Co.
iWells Power Co.
Wisconsin Gas & Elec. Co.
MICHIGAN CITY, IND.
On Apr. 29 1914 the company filed a certificate of increase or capital
C H I C A G O L A K E S H O R E & S O U T H B E N D RY.
stock from 300,000 to 400,000 shares, to provide for conversion of the con
O R G A N I Z A T I O N . — Organized in Indiana December 1901.
vertible bonds.
N o securities in hands of public. All owned by syndicate, which has
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
used them as collateral only.
Stock 400.000 shares (no par
.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g
M a tu r ity .
.
___ _____ _
______
215,000 8b.
See text
value).__
C o m m o n *5.000.000 ($100).......
-.......55,000,000 .......... Debens 310.000.000 ($1,000.
Pref 51.000.000 ($100) 6 % n-c------- -----1,000.000 --- ----*500 and $100) ..... c*tf 1914
6 g M-N
6,500.000 M a y 1 1924
1st mtge $6,000,000 (51.000)1 1907
5 F-A 15
4.357.000 Aug 15 1947
Debentures convertible Into stock at $80 per share to M a y 1 1923; rod.
gold................ tfllnterest at Cleveland Trust Co.. Trustee. at 102 on 60 days’notice. V. 98, p. 1128.
Equipment bonds, gold ($1,-1 1908
6 M-N
50,000 Past due
D iv i d e n d s . — A dlv. of $1 75 was paid June 1 1914: In Dec. 1914 also paid
uOu)_________________ c(Int. at Cleveland Trust Co., Trustee.
$175. In 1915, June. $1 75: Dec., $1. In 1916. Juno, $1 75; Dec.. $1 75
B o n d s . — Remaining bonds are reserved for future extensions and Im and 75c. extra. In 1917, Apr $1; July, 50c.; Dec., $1 50.
provements. They aro subject to c at 102!^ at any int. period. Sink
all
R E P O R T . — For cal. years (co m b in e d p r o p e r t ie s )
.
fund of 550,000 per annum began Aug. 15 1917 for 10 years. theD 2 % of C a le n d a r
O p e ra tin g
N e t ( a fte r
N o n -O p .
I n te r e s t
B a la n c e .
bonds outstanding until maturity.
Y ea rs—
R even u es.
T a x e s . A c . ) . R ev e n u e.
C h arges
S u r n lu s
E A R N I N G S . — For year end. Dec. 31 1917, gross. $649,311; net, after 1917______$11,962,520 $3,016,006 $151,886 $1,575,568 $1,592,324
1916 ....... 10.175,072
2,940,660 111,753 1,332,825
1,719.588
taxes, $86,680. In 1916, gross, $551.468:Snet, after taxes, $164,216.
......... ......... 8.605.380 2,604,049 51.415
1,361.406 1.294
R O A D . — Operates a total of 70.86 miles between South Bend and Chi 1915
I n c o m e A c c o u n t o f W is c o n s i n E d is o n C o .
cago; 6.7 mill's H a m m o n d to Pullman, owned by I l nois Central RB.
li
C a le n d a r
D i e s . A I n t. E i p . . I n t . A
N et
D iv iB a la n c e ,
I leased to Chicago I-ake Shore* South Bend. 70-lb. T-rall.
s
Y ear—
R ec eiv ed .
T a te s .
In com e.
d e n d s . S u r p lu s .
OFFICERS.— Chairman. F. H. Goff; Pres, and Gen. Mgr.. O. N. WII
_________ $1,446,411 S617.376 S829.035 $645,000$184.035
1917
coxen; Viee-Pres.. S. H. Tolies; Sec. & Treas.. R. R. Alexander.— V. 86
1916
......... ......... ......... 1.430.882459.262
971.620913.7505
p. 51. 167, 420. 1528; V. 98, p. 386.
1915 ....... ... 1.058.396
457.681 600.715
591,2509.465
OFFICERS.— Pres.. Jas. D. Mortimer; V.-P., I . I . Pierce and Edwin
I I
Gruhl; Sec., Janies F. Fogarty; Treas., Geo. R. Sheldon: Asst. Sec., Itobt.
MIDDLETOWN, N. Y.
Randall; Asst. Treas., Robt. Scaly and Ferdinand Sherwood.— V. 104, p.
W A L L K I L L T R A N S I T CO.
2123; V. 105, p. 1809; V. 106. p. 603. 614, 1236.
O R G A N I Z A T I O N . — Incorporated in N e w York on March 30 1905 as
( Milwaukee Light. Heat & Traction Co.
1)
successor, under foreclosure, to the Mlddletown-Goshen Electric Ry and
The capital stock I practically a l owned by the Wisconsin Edison Co.
s
l
the Mlddletown-Bloomsburg Elec. Ry. See V. 80, p. 1059. 1425. Comiany was placed In hands of receiver Oct. 1908 on account of a judgment for
O R G A N I Z A T I O N . — Incorp. In Wis. on Dec. 14 1896. Does an extensive
njurles obtained by a motorman. but a l Indebtedness having been paid o f streot and Interurban railway and elec, light and power business, serving Mil
l
l.
receiver was discharged April 23 1909.
waukee. South Milwaukee, Cudahy. Racine. Kenosha, Wauwatosa, North
Milwaukee, Whlteflsh Bay. Fox Point, West Allis. Waukesha. Pewaukee.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
5350,000 ....... . Harbland. Oconomowoc, WatertovVn. St. Martins. Muskego Lakes, MukStock $350,000 (550)......................
1 st mtge S350.000 gold (5100.; 1905
5 g M-N
300,000 M a y 1 1935 wonago, East Troy. Waterrord, Rochester and Burlington.
During 1916 the Wisconsin Edison Co. and the Milwaukee Eloc. Ry. & Lt.
$500 and 51,000)____ c*tf|Int. at O o m ’ ’
w lthTr.Co..Harrisburg, Trust
t
B o n d s . — $50,000 reserved for Tuture Improvements. Are subject to c l
a l Co. returned to the co. $6,189,000 of I s Ref. & Ext. M. bonds and $9,
000.000 of i s capital stock held by those companies, in exchange for $9.
t
after 10 years at 105.
common stock
Milw. Eloc. Ry. & Lt.
the
E A R N I N G S . — For year ending June(30 1917, gross, $69,398; net, after 000.000Heat & Traction of the (Compare V. 86. p. 286.)Co. owned byExt.
Light,
Co.
The Ref. &
taxes, $10,319; net corporate deficit, $5,211. In 1915-16, gross, $73,795; bonds returned were canceled and the mortgage satisfied of record, and the
net, after taxes, $2,570: net corporate deficit, $13,339.
capital stock rotained in the treasury of the co. It i planned to convey
s
R O A D . — Operates 12.81 miles of track extending from Middletown, a large part of the property now owned by the co. to the Mllw. Elec. Ry. &
N. Y., to Midway Park, Goshen, including switches, turnouts, &c. Rails Light Co., the remaining property to go to the Wisconsin Gas & Elec. Co.
65-lb. T and 80 and 90-lb. girder. Standard gauge.
Application to purchase tho properties of the co. was made by tho Milw.
OFFICERS.— Pres. & Gen. Mgr., DeWitt O. McMonaglo; V.-P.. Chas. El. Ry. & Lt. Co. in Feb. 1918— seo that co. below.
V a lu a tio n .— See Milwaukee Electric Ry. & Lt. Co. bolow.
A. Kunkel; Sec., J. F. Weiss. Harrisburg. Pa.; Treas., W. M Oglesby. Bar
F a r e I n c r e a s e . — See Milw. Elec. Iiy.& Lt. Co. below.
risburg. Pa.; Aud., Miss M. L. Robinson.— V. 80. p. 998, 1059, 1425, 2346.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$1,000,000 .........
C o m m o n stock $30.000.000...............
Milw Lt H & Tr Co 1st M g\ 1899
5 g M-N
5.000.000 M a y 1 1929
MILFORD, MASS.
gu $5,000,000 ($1,000) g.c*(Int. at Equitable Trust Co.. N. Y., trustee.
M I L F O R D & U X B R I D Q E S T R E E T RY.— Trolley.
1st M. bonds may bo called at 110 on any Int. dato. They aro guar.,
O R G A N I Z A T I O N . — Incorporated In Massacnusetta in 1901. On July prln. and Int , by endorsement, by Tho Milwaukee Elec. Ry. & Light Co.
.
10 1902 consolidated by purchase of entire capital stock with the Milford (V. 86, p. 1042). Income tax withheld at the source at tho rato of 4 %
Holllston & Framingham St. Ry.
Operates the Grafton & Upton RR. when owned by a foreign corporation.
_
,
(V. 104. p. 73. 163) from Milford to North Grafton, 16.37 miles, and tho
R O A D . — Total mileage, exclusive of controlled Milw. Elec. R y .A l t Co.,
i.
Medway & Dedham St. Ry.. 21 miles.
235.18 miles. 80-lb. T r i . 137 passenger cars. Steam power plant has
al
In Aug. 1917 tho P. S. C o m m , authorized an increase in fare from 5 to 6 19.000 k. w. capacity.
cents, with morning and evening workmen’ tickets at 20 for $1.
s
R E P O R T . — Fiscal years ending Dec. 31:
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
1917.
19161917.
1916.
Stock com 3440.000 ($100).......
A-O
$440,000
See text.
$907 $361,012
Gross...... $2,232,388 $1,852,072 Other income.
Preferred 5100,000 ($100)...... .
J-J _
100.000
See text
Expenses___ 1,446 121 1,021,815
M . Holl. & Frani. 1st mtge. 1898 7 g J-J
165.000 Jan 1 1923 Depreciation .
$933,859
74,073
124,244 Gross income. $540,561
$165,000 ($1,000) g..c*ntf Int. at Amer. Trust Co.. Boston, Trustee. Taxos......
446,774
586,581
172,539
133,166 Interest__ ,.
Milford & Uxb gold bonds 1902 7 g J-J
335,000 Jan 1 1923
($1,000) gold______ c*ntf Int. at Amer. Trust Co.. Boston. Trustee
Net...... $539,654 $572,847
Surplus....
$93,787 $347,278
The above bonds were originally 5s and f l due Jan. 1 1918, but were
el
Passengers carried In 1917, 15,552,753, against 14,186,851 in 1916.
extended to Jan. 1 1923 at 7%.
OFFICERS.— Pres., J. D. Mortimer; V.-P. & Gen. Mgr., 8. B. Way;
D iv id e n d s .— O n pref.. In 1910. H %; In 1911, 5%; in 1912 and since. 6 %
V.-P.. Chas F. Pflster; Treas., Geo. R. Sheldon; Sec. & Asst. Troas.. Jas. F.
per annum. On common, in 1901 to 1903. 6%; 1904, 1 K % ; 1907. 3%; Fogarty; Asst. Sec. & Asst. Treas., F. J. Boehm, Milw.; Asst. Sec., Robt.
1908, 1%: 1909. 3%; 1910 and 1911, 4%; 1912. 5 H % : thereafter to Oct. Randall, N. Y. Gen. office. Public Service Bldg., Milwaukee; N. Y. office.
1916, 5 % per annum. None since.
30 Broad St., N. Y. City. V. 104. p. 863, 1801; V. 106, p. 607.
E A R N I N G S . — For fiscal years;
(a) The Milwaukee Electric Railway & Light Co.
Y ear
G ro s s
N e t (a ft e r D e d u o
P f . D i v . C o m .D i v .
B a la n c e
(6%).
e n d in g —
E a r n in g s .
S u r p lu s .
T a x es).
lio n s .
(5%).
O R G A N I Z A T I O N . — Successor of Milwaukee St. Ry. Co. Jan. 29 189(Jt
Dec. 31 1917.— $315,091 $48,951 $30,917 $6,000
$12,034 per plan In V. 60. p. 1009. Embraces a l the streot railway linos (excep
l
6,000
22,000
58,533
29.722
Dec. 31 1916... 278,828
811 approximately 15 miles single track) I Milwaukee. Entire common stock
n
6,000
22,000
58.026
29,924
Juno 30 1916... 272,318
102 I owned by the Wisconsin Edison Co. Tho company, besides i s streot
s
t
R O A D . — Owns 36 miles of track, from So. Framingham to Uxbridge and railway system, owns and operates an electric-light and power system and
from Milford to M o dway and Hopkinton. Also operates tho Grafton A a central-station steam-heat system in Milwaukee. In April 1917 ac
Upton RR.. from MUforcl to North Grafton, 15.37 miles, and the Medway A quired tho electric utility of the Commonwealth Power Co. and the heating
Dedham St. Ry.. 21 miles. Also controls Lake Nlpmuc Park. 60 pas utility of the Continental Realty Co. and issued $1,450,000 Serial 5 % notes
in connection therewith. V. 106, p. 919.
senger cars. 13 snow plows and 4 miscelL; 134 electric motors.
OFFICERS.— Pres., D. E. Manson, Boston,pMass.; V.-P., & Sec., p, The railway franchises of the company run until Doc. 31 1934. V. 70,
39. Electrlc-llght and power franchises aro unllraltod In time.
Wendell Williams, Milford, Mass.;$Treas., J. E. Walker, Milford; Supt.,
V a lu a ti o n . In Sept. 1917 tho Wise. RR. Comm, submitted i s report
—
t
W . L. Adams. Milford, Mass.— V.||911p.g463£1160; V.,105, p. 2456.
on tho valuation of the physical properties of the Milwaukee Elec. Ry.
& Lt. Co. and Milwaukee Lt., Ht. & Trac. Co., showiug a reproduction
cost Tor both properties as of Jan. 1 1914of $37,319,297; capital expenditures
MILLVILLE, N. J.
to Jan. 1 1917, $3,206,700; total, as of Jan. 1 1917, $40,625,997 (not
including any allowance for working capital or going value). V. 105.
MI L L V I L L E T R A C T I O N . — A trolley road.
p. 1309.
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a t u r it y .
On Jan. 30 1915 the Wise. RR. Comm, rescinded I s order of Aug. 23
t
$175,000
Stock $176.000.......... . .......... .
1912, requiring the sale of tickets in packages of 13 for 50 conta Instead of
1st mortgage $400,000 gold) 1894
6 g F-A
208.000 Aug 1 1914 25 for $1. On Jan. 22 1918 Judge E. Ray Stovens in the Dano County
($1,000 each)________ c*/lnt. at Land Title* Truet Co.. Phlla., Trua. Circuit Court handed down a decision in tho litigation involving the validity
B o n d s . — Not subject to c l .
al
of $193,000 of coupons Issued with tickets during the time the order was In
s
E A R N I N G S . — For year 1916, gro3s.WS9.110; def. from oper.. $430. Be effect, declaring the Commission’ ordor to havo been unreasonable.
V. 106, p. 396.
1915, grose. $50,402; def. from oper., $4,365.
Fa
—
Trac. Co. In
R O A D . — Operates 6.47 mllea of track in Millville. 0.536 mllca In Vineland Nov.r e I n c r e a s e . This company and the Milw. L., Ht. &rares and rates
1915 petitioned tho Wise. RR. Comm, for Increases in
and 5.541 miles In Township of Landis; total, 12.547 n i c .
ala
to insure a reasonable return, claiming that tho present rates were confis
OFFICERS.— Pres., George Wood; V.-Pres.. R. D. Wood; See.. G H
catory. In Jan. 1917 tho Comm, denied tho co.’ "emergency” petition
s
Thomas: Treas.. Daniel O. Lewis.
filed in Dec. 1916 for faro adjustment to enable tho co. to place I semployees
t
on an 8-hour day basis and to permit a further increaso In wages to cover
tho increased cost of living. V. 106, p. 919.
„
R a te I n c r e a s e s — V . 105, p. 1802, 1898. On Oct. 24 1917 the P. S.
MILTON, PA.
Comm, issued a temporary order permitting certain increases in electric
L E W I S B U R G M I L T O N & V V A T S O N T O W N PASS. RY.— Trolley.
and steam-heating rates. V. 106, p. 919.
_
,
O R G A N I Z A T I O N . — Chartered Sept. 3 1897. In 1910 Whittaker A
P r o p o s e d M e r g e r . In Feb. 1918 applied to tho Wise. RR. Comm, for
—
Diehl of Harrisburg purchased control from the Railways Company General. auth. to purchase tho property, &c., of tho Mihvaukeo Lt., Heat.&Trac. Co.
Under contract with Penn. RR., the Lowfsb. Mil. A Wateont. Paso. Ry. The property to bo acquired had a reproduction cost as of Dec. 31 1917 of
agreed to Install storage-battery cars on some 11 miles of track between $12,372,362. and will be taken, when authority i received, subject to the
s
Montandon and Miffllnburg, and to operate a line In conjunction with $5,000,000 1st 5s due 1929. V. 106, p. 919.
steam use of that section of road, connecting with present trolley line at
In Feb. 1918 applied to tho Wise. RR. Comm, for auth. to issue $4,
East Lewlsburg.
000.000 bonds. V. 106, p. 607.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
In terest.
O u ts ta n d in g .
M a tu r ity .
STOCK A N D BONDS—
D a te .
Stock $150,000........... ....
......
$150,000 ________
C o m m o n stock $20,000,000
First mortgage $300,000 gold! 1910
5 K F-A
176.000 Feb 1 1940
....
$9,860,000
......
(par *100)---------- ------($500)______________ c’jlnt. at Land Title* Tr. Go., Phlla., Trustee. Preferred stock $4,500,000
B o n d s . — Remaining bonds can only be Issued for Improvements and ex
....
4,500,000 A p r ’
18.1)
6 % non-cum (par $100)_______
5 g F-A __ 6,500,000 Feb 1 192
tensions at 80% of cost. Sub. to call m a whole on any hit. date after The Milwaukee Elec Ry *( 1898
Light Co cons, mtge $8,-(Central Trust Co. N. Y., Trustee. Int. payFeb. 1920 at par.
s
000.000 gold ($1,000)__ c*[ able at co’ offico, 30 Broad St., N. Y.
E A R N I N G S . — For 12 months end.^Doc. 31 1917, gross, $60,352; net,
The Mllw Elec By & Llghtf 1906
g J-J
6,728,000 Jan 1 1931
after taxes, $8,820. In 1916,|gross, $63,089; net, after taxos, $18,034.
Co ref* ext mtge $20,000.-1 Trust Co. of America, N e w York. Trustee
R O A D , — 10 miles of track between points named In t t e 12 overheadil.
000 gold ($1,000)_____ c*( Int. at co.’ office, 30 Broad St.. N. Y.
s
operation cars, 2 storage battery cars run from Montandon to Miffllnburg. Gen & ref mtge $90,000.0001 1911
5 J-D
5,818,000 See text
gold ($1,000) Ser ‘A ”.c*tfJlnt. at N. V. Bankers Tr. Co., N. Y.. Trua.
‘
OFFICERS.— Pres., John F. Whittaker; V.-P., L. G. Brown: Sec. *
Notes, $1,450,000 ($1,000)... 1916
5%
1,300,000 Seo text.
Treas.. D. L. Diehl; Asst. Sec. & Treas., W. B. Rankin.— V. 90. p. 1363.
f
M ay , 191 8. j
E L E C T R IC R A IL W A Y S
67
N e w S u b s id ia r ie s . — Because of a decision of the Supreme Court holding
S tock a n d B o n d s . The bonds and the prof, stock are listed on tho N. Y.
—
Stock Exch. 1st cons. mtgo. i closed. Of tho r f and ext. bonds, $6, that suburban lines, as railways, are amenable to the Minnesota 4 % gross
s
e.
t
500,000 are roservod for prior lions and $6,772,000 are deposited as collateral earnings tax, l was decided in Mar. 1910 to Incorporate The Minneapolis
to gen. & ro . mtgo. bonds. Bonds are subject to call slnco Jan. 1 1916 at & St. Paul Suburban RR. ($l,OO0,OOO stock, increased to $3,000,000 In
f
108 and interest. N o sink. fd. See V. 81, p. 1724, 1792; V. 84, p. 508. Jan. 1911: debt limit was also increased to $10,000,000; V. 92, p. 187),
Gen. & re . mtgo. fa l duo Dec. 1 1951, except that in tho ovont tho co. Tho Minnetonka & White Bear Navigation Co. ($250,000 stock) and The
f
ls
has not acquired a franchiso extending to 1954 on or before Dec. 1 1931, Rapid Transit Real EstateCorp., $15,000 stock, and to re-arrange matters
the mortgage becomes due on that date. Bonds of Series A are redeem so that tho suburban lines, the steamer lines and the hotels, parks, &c., of
able on any interest date at 105 and interest, on 6 weeks’notice. $13,228, the company might be handled separately for taxation and accounting pur
000 are reserved for prior liens; remaining $70,967,000 are for oxtens., lmpts. poses. V. 90, p . 8 5 0 .
F r a n c h is e a n d F a r e s . The horse car franchiso granted to the St. P. City
—
and acquisitions, at 8 0 % of cost thereof under certain restrictions. No
s
sinking fund. See V. 93, p. 1787. Bonds listed on N. Y. Stock Exchange. Ry. Co. by tho City of St. Paul I without limit. The ordinance to use
$6,772,000 rof. & ext. bonds pledged as collateral for tho gen. & re . bonds. electricity expires partly In 1937 and partly in 1939. On Aug. 24 1907
f
Judge Lochron of tho U . S. Circuit Court granted a permanent injunction
N o t e s . Aro socurod by $1,000,000 gen. & r f bonds. They inaturo
—
e.
against enforcing tho ordinance of Feb. 18 1907 requiring street railways to
$150,000 on each July 1 to July 1 1926. $150,000 have been paid o f
f.
D iv i d e n d s . Uogular quarterly dividends of 144% havo been paid on sell six faros for 25 cts. (see V. 85, p. 532). On Jan. 3 1910 U. S. Supreme
—
Court affirmed tho decision of Judge Lochron. This, decision sustains the
the pref. since Fob. 1900.
company’ claim to tho right to charge 5-cent fates. V. 90, p. 111. The
s
R O A D . — Total track operated, 180.38 miles, of which 168.28 miles Minnoap. St. Ry. franchise expires in 1923. On Doc. 7 1916 tho Minneap.
owned and 27.51 miles leased. Steam power plants have aggregate capacity St. Ry., complying with the resolution adoptod Nov. 17 1916 by tho Minne
of 77,650 k. w. 574 passenger cars.
apolis City Council submitted a tentative ordinance for a now franchiso
f
R E P O R T . — Fiscal year ending Dec. 31 (1917 report in V. 106, p. 919). superseding tho present franchise, which, i acceptable, will bo submitted
to voto of tho people. Under i s terms tho company i to receive a sum
t
s
1917.
1916.
1917.
1916.
Gross...... $7,968,192 $6,961,151 Gross income.$2,237,582 $2,107,001 equal to 7 % per annum upon the total capital value, plus approved addi
931,362
759,394 tions sinco Jan. 1 1916, tho remainder of tho surplus earnings to bo divided:
Expenses___ 4,687,713 3.628,145 Interest---a
6
270,000 i ( ) until July 1 1923, equally with city; ( ) thereafter, 7 5 % to citv. City to
Deprec’ &c.
n,
593,678
865,898 Preferred divs. 270,000
s
Taxes......
557,347
437,280 C o m m o n divs. 1,034,250 1,058,875 havo tho right to purchase tho property on ono year’ notice. V. 103,p.2343.
V a lu a tio n o f M in n e a p o l i s S treet R y . For reports on valuation of property
—
Surplus___
$1,970
$18,732 in connection with franchiso matters, seo V. 105, p. 1523, 2185; V. 106
Net...... $2,129,454 $2,029,828
!p. 716.
Other incomo.
108,127
77,173
W a g e s a n d S tr
—
,
but
Rovenuo passengers carried in 1917, 115,626,143, against 107,528.091 in nevertheless hadik e s . Wages were increased 10% Oct. 1 1917.from the co.
a number of strike troubles of short duration
t
rivial
1916; transfer passengers, 47,232,242, against 44,655,506.— V. 106, p. causes in that and tho immediately succeeding months.— V. 105, p. 1420,
396, 602, 607, 822, 919, 1124.
1618, 2367.
(b) Wisconsin Qas & Electric Co.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity ,
O R G A N I Z A T I O N . — Succeeded in 1912 the Racine Gas Light Co. In- T w in C ity R a p id T r a n sit —
corp. In Fob. 1867) and acquired tho Kenosha Gas & Electric Co. and K e
6 Q-J
C o m $22,000,000 ($100)......
$22,000,000 A p r ’18. 1 %
nosha Electric Ry. Does entire gas business in Racine, Kenosha. South
Pref cum $3.000,000 ($100)- 1895
7 Q-J
3,000.000 A p r ’
18. 1J*
Milwaukee, Cudahy and Watertown; the entire electric lighting, power and M i n n e a p o l i s S treet R a ilw a y C o .
—
street railway business In Kenosha, and the electric light and power busi
1 tcon Mg$5,000.000-c*cpt 1889
s
5 g J-J 15 5.000.000 Jan 15 1919
ness In Watertown, Burlington. Lyons, Springfield, Johnson’ Creek, Jef St P a u l C ity R a ilw a y C o —
s
ferson Junction, Monomineo Falls, Lannon, Corliss, Clyman and ThiousFirst mtge on real estate and 1 1882
6 g A-O
________ ______
224,000 April 1 1932
v l e and wholesales powor for supply to Fort Atkinson, Lake Mills, White
ll,
horse-car franchise._cpt (Exchangeable at 105 for f r t consolidated.
is
water, Palmyra, Lake Gonova, Dolavan and Elkhorn. Electric light and
First consol mtge gold.-cpt 1884
6 g A-O
456,000 Oct 1 1934
powor business In Kouosha i dono under indotormlnato permit. F r a n c h is e
s
Gable con gold(seo text) cpt 1887
5 g J-J 15 3,708,000 Jan 15 1937
for streot railway extends until 1952. Tho company has the right to con M in n e a p o l i s A S t P a u l S u b u rb a n R y —
duct i s gas businoss either under an indetormlnato permit or under tho
t
1 M g $500,000 guar byl 1899
st
5 g M-S
500,000 Sept 1 1924
special (perpetual and exclusive) franchises originally granted.
T w C y R T & S t P O y c*cntjlnterest at Central Trust Co., N. Y., Trustee
In July 1915 Increased auth. common stock from $1,000,000 to $1,750,000 M i n n S treet & St P a u l C ity R u —
and issuod $657,500 of tho now stock to acquiro tho Watertown Gas & Elec.
Joint con mtge $10,000.0001 1903
5 g A-O
10,000,000 Oct 1 1928
Co. and tho Burlington Elec. Lt. & Pow. Co. (both controlled by tho Wis
($1,000) gup & i..c*cpt I
Central Trust Co. of N e w York, Trustee.
consin Edison Co.) and to discharge $162,000 floating debt incurrod in m a k Real estate mortgages______ ____
6%
375.000 1918 to 1923
ing additions and bottermonts.
All bonds aro for $1,000 each, and, with the exception of tho Minneapolis
R a te s . On Oct. 9 1917 was auth. by tho Wise. RR. Comm, to incroase & St. Paul Suburban Ry. and the Joint issue of 1903, interest i payable
—
s
heating rates in Konosha, offoctivo Sept. 15 1917, from 20 cents to 2744 at Farmers’Loan & Trust Co., N e w York. Company pays Federal Income
tax on above Issues.
cents per squaro foot of radiation per year.
S to ck . — Stock listed on N. Y. Stock Exchange.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
B o n d s . — The M in n e a p o l i s S treet R a ilw a y C o . Jointly and severally with
$1.747.500 .........
C o m stock SI.750,000 ($100)......... ----the Minneapolis Lyndalo i Minnetonka Railway Co., Issued $5,000,000 5 %
t
Pref cum $1,600,000 ($100)-. ---6%
376,700 ........
is
is
First mortgago gold ($1,000? 1912
5 g J-D
3,027,000 Juno 1 1952 30-yoar f r t mortgage and f r t consolidated mortgage gold bonds. See
& $500).... -....... c*(Int. payable at office of co. in N. Y. Harris statement to N e w York Stock Exchange In June 1895. The consols are
l Trust & Savings Bank, Chicago, Trustee. also listed In London. V. 60, p. 1149.
Tho S t. P a u l C ity R a ilw a y C o . has issued $3,708,000 5 % 50-yr c a b le c o n
Watertown Gas & Elec 1st M | 1905
5 J-D
130,000 Juno 1 1921
$300,000 gold. Rod at{Int. at Bank of Watertown. Wisconsin s o lid a te d b o n d s , and may Issue $680,000 now held by tho Farmers’ Loan &
Trust Co., trustee, to redeem tho $680,000 prior lien bonds; limit fixed by
10244... ........ .... l Trust Co., Milwaukee, Trustee.
this mtge. I $4,388,000, and no further underlying bonds can bo put out.
s
B o n d s . — Additional 1st M . bondsmay bo Issued only for 80% of cash cost V.
2281.
cable consols ($1,138,000) s guar. (p. i I )
t .
of permanent lmpts., &c.. when tho annual net earnings are 144 times the by 77, p.of Twin Part of these Transit Co. Seo statementito N. Y. Stock
end.
City Rapid
int. charge, inch bonds to bo Issued. Bonds red. at 105 ami int. since Exch. in Juno 1895, V. 60, p. 1150. Of tho 1st consols, mtgo. of the St.
Juno 1 1917. $30,000 of the Watertown G . E. 5s reported outstanding Paul City. $224,000 aro held, by the Farmers' Loan i Tr. Co. to bo ex
t
aro hold in treasury. Aro callable at 10244 and in . on any int. dato. changed for tho $224,000 first mtge bonds
t
Incomo tax withhold at tho source at tho rate of 4 % when owned by a
The M i n n e a p o l i s S treet R y . A S t. P a u l C ity R y . consolidated mortgage or
foreign corporation.
1903 i a Joint Issue of the Minneapolis Street Ry. and the St. Paul City Ry.
s
E A R N I N G S . — For year ending Doc. 31:
Guaranteed, prin. and i t., by endorsement, by Twin City Rapid Transit
n
Y ear—
O ro s s .
N e t (a ft e r T a x .) O th . I n c .
In terest.
S u r p lu s .
Co. soe V. 77, p. 2281 and 2340).
1917..... $1,510,679
$310,246
531,008
$181,695
S159.559
D iv id e n d s . — On preferred i paying 7 % per annum.
s
First dividend of
1916 ..... 1,143,791
293,495
25,549
139,559
179,485 1 % was paid on tho common stock In Aug. 1899; In 1900. 3%; in 1901, 4%;
1915 .....
950,737
255,900
15,416
137,766
133.550 1902 to 1909 incl , 5 % per ann ; 1910 to 1917 incl , 6 % per annum
In
P R O P E R T I E S . — Miles of single track, 7.851;mllcs of gas mains, 203: 1918, Jan , I H % \ Apr 1%.
R O A D . — On Doc. 31 i917 comprised 451.38 miles single-track equivalent.
OFFICERS.— Pres., J. D. Mortimer; V.-P., S. B. Way; Sec.-Treas., Including four intorurban linos connecting the businoss centres of Minne
F. J. Boehm; Asst. Sec., J. F. Fogarty; Asst. Treas., Robt. Scaly; Gen. apolis and St. Paul, an Intorurban line of 22 miles connecting St. Paul and
Mgr., V. E. Callondor; Aud., E. Jorgenson. V. 102, p. 1352; V. 103p. Stillwator, and lines to Lake Minnetonka. Standard gauge. On the prin
1432; V. 101, p. 1806.
_____
cipal stroets of the cities 90-lb. T ra l with welded joints.
i
P o w e r . — Tho company leases water-power at St. Anthony’ Falls (ca
s
W I S C O N S I N T R A C T I O N . LIGHT, H E A T & P O W E R CO.
pacity 22,000 h. p.), which power i now used in conjunction with power
s
O R G A N I Z A T I O N . — This company was incorporated at Milwaukee in generated at now steam power plant to run the entire railway system in
lln
Mar. 1900 with a nominal capital of $10,000 (since increased to 51,000 000), Both c t e . Seo V. 64, p. 704.
for tho purposo of uniting certain properties in tho Fox Rlvor Valley.
A N N U A L R E P O R T . — Report for 1917 was In V. 106, p. 493.
Socured control or the Fox River Valloy Electric Ry. and the Appleton
Y e a r e n d . D e c . 31—
1917.
1916.
1915.
1914.
Electric Light & Power Co., and has consolidated them. In Sopt. 1904 Rovonue pass,
purchased entire capital stock of the Fox River Valley Gas A Electric Co. Transfer pass, carried.. 199,621,160 199,848,096 185,654,985 184,352,963
carried.. 73,678,873 74,425,935 69,259,767 66,742,000
and guarantees i s bonds, prin. & int. See V. 79, p. 787, 1267.
t
n.$10,l 19,755 $10,130,113 $9,401,233 $9,227,602
In Mar. 1914 tho Wisconsin Supreme Court sustained the State RR. Receipts from transp’
87,958
84,366
76,658
72,043
Comm, in holding, in company’ suit against tho city of Menasha, that the Rects. from oCh.sourcos.
s
city cannot do a commercial lighting businoss in connection with i own
ts
.$10,207,713 $10,214,479 $9,477,891 $9,299,645
street-lighting service without tho necessary authority from the Commission
. 6,723,520
6,254,643
6,064,628
5,832,182
V. 98. p. 764.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
. $3,484,193 $3,959,836 $3,413,263 $3,467,463
. 1,908,921 $1,695,655 $1,680,297 $1,579,822
Stock $1,000,000 ($100)........
Q-J
3699.400
See text
37,222
26,633
First mtgo ($3,000,000) $1,-1 1901
5 k J-J ^ 1,500.000 July 1 1931 Miscellaneous debits__.
20,691
Divs. on prof. stk.
000 gold no sink fund ---c*/lnt. at First Trust Co., Milw., Trustee.
210,000
'
210,000
210,000
210*665
1,320,000
Fox River Valley fi s mtgol 1901
rt
5 g A-O
350,000 April 1 1921 Divs. on com. stk. (6
1.320,000
1.319,916
1.250,514
$350,000 (31.000) gold
c/
Merchants’Loan & Trust Co.. Chic., Truat.
Balance, surplus-.. .
$3,050
$707,548
$182,359
$427,127
B o n d s . — Entire issue of Wisconsin Traction, Light, Heat & Power Co.
L A T E S T E A R N I N G S . — For 3 months ending Mar. 31:
bonds may be called on any interest dato at 110 and interest. Tho Fox
3 M os.
G ross.
E xp en ses.
N et.
I n t . , T a x e s , & c . S u r p lu s .
River Valloy bonds aro subject to call at 105 and i t
n.
D iv id e n d s . — In 1914 and since to Jan. 1918, 5 % per annum.
1918--- ---$2,457,390 $1,881,090
$576,300
$466,130
$110,170
1917...... 2,641,912
1,799,459
842,453
435,069
407,384
E A R N I N G S . — For year# ending Dec. 31;
Y ear—
G ross.
N e t l a f t . T a x . ) . O tli. I n c . I n t e r e s t . D i v s . (5%)S u r p l u s .
1917 ....$665,741
$136,094
$11,045 $95,749 $34,940 $16,450
1916 ..... 495,447
168,571
10.385
78,484 34,940
65,532
R O A D . — Operates 15.82 miles of track, connecting Neenah, Menasha, 1618, 2095, 2185, 2367; V. 106, p. 493, 602, 716, 1037.
Appleton and Kaukana, 3.57 miles locally in the city of Appleton and 1 7 l
.f
M IN N EA P
ROCH. &
E E LEC. T R A C . C O .
miles sidings and turnouts; total, 21.15 miles. Also furnishes electric light — Commonly O L IS ST. P A U L Patch Elec.DU B U QUOperates a unit power
known as “Dan
Line."
and powor and gas to Appleton. Neenah and Monasha.
car systom.
OFFICERS.— President, John I. Beggs; Vice-Pros.. Chaa. F. Pflaterl
R e c e iv e r s h ip . — Charles P. Bratnober of Minneapolis was appointed
Milwaukee; Sec. & Treas.. A. K. Ellis.— V. 91. P. 96. 1770; V. 98, p receiver on July 20 1916 to protect holders of stock and bonds in tne event
764; V. 101, p. 1 0 9 3 . _______ .
of a reorganization as a result of the death of M. W. Savage, Pres, of the
company.— V. 103, p. 406. He was succeeded by O. E. Warner on Oct.
31 1917.— V. 105, p. 1898.
MINNEAPOLIS, MINN.
F o r e c lo s u r e P r o c e e d in g s . — On Dec. 23 1916 the company’ property was
s
T W I N C I T Y R A P I D TRANS I T . — An electric road.
ordered sold at foreclosure under the 1st M . ($1,000,000 bonds pledged as
O R G A N I Z A T I O N . — Organised under tho laws of tho State of N e w Jersey collateral to 3-ycar notes.) V. 103. p. 2429. Property was offered for
Juno 3 1891 and by virtuo of i s stock ownership of the underlying com sale on Juno 28 1917. but no bids were received. V. 105, p. 73. On Dec.
t
panies (to wit, Minneapolis St. Ry. Co., The St. Paul City Ry. Co., tho 18 1917 the property was again offered for sale and that portion of the line
Minneapolis Lyndalo & MInnotonka Railway Co. and The Minneapolis extending from a point near the Minnesota River to a junction with the
& St. Paul Suburban RR. Co.) controls tho entire street railway system Luco lino near Glonwood Park, 14 miles, was purchased by a committee of
s
of Minneapolis, St. Paul, Stillwater, and linos to Excelsior, Tonka Bay and holders of tho co.’ Collat. Trust notes for $100,000, the upset price. N o
io
Deep haven at Lake MInnotonka. In 1906 absorbed tho North Sido Streot bids were received for tho remainder of tho l n .
A reorganization committee consisting of W. L. Harris, J. B. Irwin,
Ry. (Robbinsdalo line) and tho St. Louis Park l no; V. 83, p. 1472. In
i
1905 articles of Incorporation were amended so as to make the charter W. F. Itoclio and F. H. Bonham was in April 1918 soliciting subscriptions
to a fund of $250,000 to bo used in tho purchase and reorganization of the
perpetual. V. 80. p. 1914.
14-milo lino above mentioned and the line between Minneapolis and NorthS ettlem en t w ith Git\ o f S t. P a u l. — For decision as to right to build new
ly
i l . V. 106, p. 1797.
lines In St. Paul, soe V. 79, _ 271, 2087, and for settlement with City of 8t. f e d bondholder’ committee has been formed with O. T . Jaffray of Minne
.
.
_________
)
p.
A
s
Paul by which tho city relinquishes I s right of appeal from this decision and apolis as Chairman. On Aug. 26 1916 the receiver was auth. to issue
t
the company agrees to pay into tho city treasury real and personal property $100,000 receiver’ certificates to take care of obligations then existing or
s
taxes, oquai to at least 6 % of gross earnings; see V. 80. p. 1175.
expectod
arise. See V. 103,
On Oct. 23 1914 the Minnesota Supreme Court sustained tho validity shortlyib u tio n to to te h o ld e r s . — On Nov. p. 844. Judge
is t r
o
13
F. Booth,
of an ordinance passed by tho City Council In M a y 1910 ordering the St onDpetition of theNContinental & Commercial1917 & Sav. Whburof Chicago,
Tr.
Bank
Paul City Ry. to construct a car lino on St. Clair Ave., branching from ordered the receiver to distribute $135,000 among holders of the collateral
West Seventh St. V. 99. p. 1301.
B
m notes. V. 105, p. 1999.
68
E L E C T R IC R A IL W A Y S
[Vol. 106
refunding existing bonds and $1,179,000 for other Indebtedness. V. 95, p.
1746. 680: V. 96. p. 653.
, ,
R ea d ju stm e n t P l a n . Interest on the $3,000,000 1st M. 5s having been
—
in default since June 1912 (except $28,875 paid on coupon No. 15, due in
Dec. 1912, tho balanco, $46,12o. not having been paid), and no interest
having over been paid on tho $1,179,000 Gen. M. 5s, a 5-year agreement
dated June 18 1917 was entered into by the company and assenting bond
holders, under which ( the $46,125 s i l unpaid on coupon No. 15, due
a)
tl
Dec. 1912, was paid forthwith; (b ) the fixed interest on the 1st M. bonds
for tho next fivo years ( i l and including the coupon duo Juno 1922) was
tl
reduced to 2 % per annum, with a further 3 % i earned; ( ) second mort
f
c
gage bondholders surrendered their bonds to the Safe Deposit & Trust
Company of Pittsburgh, to be canceled (along with tho mortgage se
curing the same),and accepted in lieu thereof, $ for $, gold income deben
ture bonds of $1,000 each, due June 16 1948, with int. not exceeding 5 %
p. a., payable only as earned and declared by the board. The matured
coupons Nos. 16 to 24 (Juno 1913 to and inc . June 15 1917) on 1st M. bonds
l
were detached and delivered to the depository in exchange for “c
ertifi
cates of ownership,” which shall entitle the holder to tho return of tho de
faulted coupons (without waiver of any legal liability of tho company
for tho payment of the same) upon termination of this agreement or when
ever determined by the board. The company agrees to give the minority
bondholders representation upon i s board of directors and, during tho l f
t
ie
of this agreement, Alexander O. Robinson of Pittsburgh and Arthur E.
Pendergast of Trenton, N. J., shall be two of the directors. For further
MOBILE, ALA.
details see V. 105, p. 819.
M O B I L E L I G H T & R A I L R O A D . — Trolley.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
O R G A N I Z A T I O N . — A consolidation on Sept. 1 1901 of the Mobile Light Stock common (see text)---- --------$300,000 --- -----
Sc Railroad and the Mobile Street RR.; the fr a n c h is e s of both companies First mortgage $3,000,000( 1905 5 g J-D 15 3,000.000 June 15 ’
35
were extended on Sept. 12 1901 to March 12 1955. See V. 73, p. 616.
($1,000) gold callable atilnt. at People’ Sav. Sc Trust Co., Pittss
In July 1906 the Mobile Illuminating Co. purchased the electric-light
110 and Interest__ c*&r.tfl burgh. Trustee.
__
plant of the company and under contract of purchase pays to the Mobile Income debenture bonds/ 1917 5 g J-D
1.179.000 June 16. 48
Lt. & RR. 70 semi-annual payments of $11,464.
($100)................ lint, at Peoples Sav. Sc Tr. Co., Pitts., trusteo
E A R N I N G S . — For calendar year 1917, gross, $410,574; net, $142,911:
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
1910, gross, $398,789; net, $142,676; 1915, gross, $350,225; net, $112,596.
Stock $2,250,000 (par $100)............. .
$2,250,000 Apr ’
18. 1%
R O A D . — Owns 44.01 miles road, 58.33 miles of track. Road i in oper
s
~
"
"
5 g J-D
341,000 July 1 1937
First mtge gold ($1.000)-ntf 1897
Int. at Farmers' Loan Sc Trust Co., N. V. ation from Maplewood to Danforth Road, Madison, 10.89 miles; Morris
Mobile Street R R f
irst mtge 1893
6 g M-N
254.000 M a y 1 1923 town to Lake Hopatcong, 21.81 miles. Branch lines, Springfield to Eliza
■- —
Co., N. Y., Trustee. beth, 5.34 miles; Denvllle to Boonton, 4.90 miles; Dover to Wharton, 1.08
gold $300,000..... c*ntf Farmers’ Loan Sc Trust O n ivr v 'r
Interest at National City Bank, N e w York. miles. The 2.69 miles of road between Danforth Road and Morristown
Consolidated mortgage, gold 1901
5 g M-S
1.185,000 Sept 1 1941 are owned by the Morris RR. and are operated under lease: also operate
_____ ____________ .^Interest at N e w York Trust Co.. N. Y.,Trus. under lease branch lines, Morris Plains to State Hospital, 1.36 miles; Lake
($1,000) $2,250,000__ c*tf
B o n d s . Of the $2,250,000 mtge., $625,000 are reserved for prior Ileus. Hopatcong to Bertrand Island, 1.89 miles. Total road operated, 50.57
—
t
al
i
$29,000 are in treasury, $291,000 are in Trust Fund and $120,000 have miles. Gauge, 4 f . 844 ln- 70-lb. T r i in country, 80-lb. girder In c ties.
s
been retired. $14,000 1st M. M. L. & RR. Co. bonds aro in treasury and The building of a line from Landing to Netcong i under consideration.
OFFICERS.— Pres., Henry R. Rea, Pittsburgh, Pa.; V.-P., Jos. K.
$45,000 have boon retired. $16,000 M. S. RR. bonds are in treasury and
Choate, Morristown; Sec. & Treas., O. O. Schultz, Morristown; Gen. Mgr..
$30,000 have been retired.
O. O. Weidman.— V. 96. p. 63. 653; V. 97, p. 521: V 105, p. 819, 2456.
B a la n c e ,
F ix e d
N e t ( a fte r
Gross
EARNINGS.—
S u rv lu s.
E a r n in g s .
C h a rg es.
C a le n d a r Y e a r .
T a xes)
.
$155,423
$115,358
$ 40,065
1917....... ...
$522,511
M O U N T H O L L Y , N. J.
1916
510,178
114.973
66.638
181,611
B U R L I N G T O N C O U N T Y T R A N S I T CO.— Trolley.
D i v i d e n d s . Initial dividend— H % — Aug. 1 1909; In 1910, 44%: in 1911,
—
244%; in 1912, 1>4%: in 1913, 2%; In 1914, 3%jin 1915, 2%; in 1916, 3%:
O R G A N I Z A T I O N . — Incorporated In N e w Jersey on July 1 1910, as
in 1917, 2%. In 1918, April, 1%.
successor to the Burlington County Ry. Co. V.90, p 1612. Stock auth
R O A D , &c.— Owns 59 miles of track In Mobile and extensions to Maga- and issued. $120,000 ($50). N o bonds.
zlne Point, Spring Hill, Whistler and Monroe Park. Company also owns
As of June 1 1916 the N. J. Public Utility Comm, authorized the company
Monroe Park” and water power and 260 acros of land adjoining.
to Increase the fare from Moorestown to Mount Holly and from Mount
— Pres. & Gen. Mgr., J. I Wilson; V.-P., O. D. Wlllough- Holly to Burlington from 10 to 16 cents each.
I.
^ .
.
.
O F F I O E R S . ________
■by; Sec. & Aud., M . W . Glover; Treas.. C. White Spunnor. -V. 86. p.1529
On Nov. 14 1917 the carmen struck demanding a wage increase from
25 to 30 cents per hour.
_ __
__ ___
_
E A R N I N G S . — For year ending June 30 1917, gross, $66,565; net, from
M O N M O U T H , ILL.
operations, $8,566. In 1915-16, gross, $68,131; not from operations, $2,
390. In 1914-15, gross. $73,101; net from operations, $6,160; dividends
R O C K IS L A N D S O U T H E R N R A IL R O A D .
Wa s leased to the Rock Island Southern H a ilw a y (now Miss. Valley Ry. (4%), $4,750; surplus, $1,410.
R
15 mllos of track from Burlington through
& Power Co.) from Feb. 1 1913 to Dec. 31 1913, on which date lease was and O A D . — AboutMoorestown. 60-lb. Trail. Gaugo,5ft. Mount Holly
Halnosnort to
On March 29
canceled.
1916
s
ie
O R G A N I Z A T I O N . — Incorp. In 1906 under Steam RR. Act of I l
l inois. has 4 9 of the company’ 1L cars were completely destroyed by f r . N o w
passenger and 2 repair cars.
Operated by electricity for passengers and steam for freight. F r a n c h is e s
OFFICERS.— Pres., Albert Haines; V.-P., John D. Johnson Jr.; Sec.
In Monmouth are for 20 years.
Application for a receiver by the original promoters of the road was de- Treas., Armltt H. Coate; Mgr.. Edwin O. Davis.
n
le<l In Sept. 1915. V. 101,jp. 1014.
B o n d h o ld e r s ’ C o m m itte e . — E. J. Eddy, Chairman; Charles I . Dudley
I
M U S K E G O N , MICH.
and M . O. Williamson. Deposits of bonds with the Fidelity Trust Co..
M U S K E O O N T R A C T I O N & L I G H T I N G CO.
.
,
T1W
Portland, Me., and Peoplo's Trust & Savings Bank, Galesburg, 1 1 , have
1.
In Jan. 1906 almost the entiro stock was acquired by the American Light
been called for. See V. 102, p. 886.
& Traction Co. V. 82. p. 49.
j
WI
„
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
O R G A N I Z A T I O N . — Incorporated in Michigan on March I 1901, and i
s
Stock $500,000 ($100)............... ....
$500,000 ........
First mortgage $2,500,000 g l --5 g J-J
621,000 Jan I 1947 a consolidation of the street railway, electric-light and gas companies of the
($1,000) red at 105.....c/Int. at Amor. Tr. & Sav. Bk., Chic..Trustee. city. F r a n c h is e s expire: gas, 1925; railway, indeterminate.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
R O A D . — 16 miles between Galesburg and Monmouth. 75-lb. r i .
al
Stock $600,000 ($100)...................
......
Standard gauge.
6
„
63.000
See text
OFFICERS.— Pres., M. A. Walsh; V.-P., Will Halsted Clark, Chicago; Preferred $100,000 6 % c u m ......
6 g M-S
600.000 Mar 1 1931
Sec. & Treas., J. W. Walsh: Gen. Mgr., Geo. W . Quackenbush, Rock Island, First mortgage $600,000 gold ( 1901
($1 000)
- ____ tmnterest at Wyoming Valley Trust Co.,
1 1 — V, 101, p. 104; V. 102, p. 886.__
1.
Callable at 105........ 1 Wilkes-Barre, Pa., Trustee.
D iv i d e n d s . On preferred stock 6 % yearly from 1902 to date.
—
R O A D . — Owns 15 miles of road and serves as a terminal for the Grand
M O N T G O M E R Y , ALA.
Rapids Grand Haven & Muskegon Ry.. which operates 40 miles of track
M O N T G O M E R Y L IG H T & T R A C T IO N C O .— A trolley road.
between points Indicated In the t t e
il.
„ „
„
. „
O R G A N I Z A T I O N , &c. Montgomery Trac. Co. was chartered In 1893.
OFFICERS.— Pres., J. Q. Ross; V.-P., J. T. Young; Sec. Sc Treas.,
On Dec. 29 1911, having acquired the lighting property owned by Richard T . P. Lewis, Muskegon; Asst. Sec. & Asst. Treas., O. N. J l f o Aud.,
I
elf;
Tlllis, name was changed from Montgomery Trac. Co. to above t t e (V. 94, James Lawrence; Gen. Supt., Walter Eyke.— V. 96. p. 1840: V. 101, p. 774 .
il
p. 207), and In June 1912 stock was Increased from $1,000,000 to $2,000,000.
to pay for new property. V. 94. p. 1764. Stock had previously been de
M U S K O G E E , OKLA.
creased from $2,000,000 to $1,000,000 in 1909. V. 88. p. 375.
Does entire street railway business and has an electric light and power
M U S K O G E E E L E C T R I C T R A C T I O N CO.— A trolley road.
system In Montgomery and I s suburbs. Street railway f r a n c h is e s that aro
t
O R G A N I Z A T I O N . — Incorporated In 1904 In Indian Territory. In Oct.
not perpetual expire between 1932 and 1942. Electric light aud power 1912 acquired the Peoplo's Electric Ry., which was merged into this prop
erty, and issued $600,000 n e w 1st M. bonds to refund an earlier issue of
fr a n c h is e runs t l 1940.
il
P o w e r C o n tra ct D e c i s i o n . — See V. 103, p. 1593.
$450,000 and In part payment for the People’ Elec. Ry. $200,000 addi
s
tional bonds will be Issued In final payment when aunual not earnings are
M a t u r it y
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
twice the interest charges on bonds out. including these $200,000. F r a n
Stock $2,000,000 ($100)..................
$2,000,000
^ x
1st & ref M $5,000,000 sk fd_. 1912
6%
1,000,000 April 1 1942 c h ise s are unlimited as to time.
R ight o f P u r c h a s e by C i t y . The city has the right to purchase a l the com
—
l
Mont Street Ry 1st mtgef 1893 6 g F-A
350,000
Aug. 1923
$350,000 gold_________ JInt. at Farmers' L. & T. Co., N. Y.. Trustee. pany's property within city limits In 1934 and at the end o t every 15-year
B o n d s . — Of the 1st Sc refunding bonds, $350,000 aro reserved for prior period thereafter, at a price dotermtnablo by arbitration, but In case o t
Hen and $3,650,000 for add’ & betterm'ts at 8 0 % of cost, or for acquisi such purchase the bonds must be either paid ofr or assumed by the city,
ns
t
tion or refund..$ for $, of bonds of other properties which may be acquired. and In the latter event the company must be allowed to operate I s cars
Sink. fd. equal to 1 % of a l bonds authenticated annually began April 1 from suburban or lnterurban points to the centre of the city on a rental
l
basis. See V. 95. p. 1331.
1915. V. 95, p. 47.
Has favorable long-time power contract with the Muskogee Gas Sc El. Go.
E A R N I N S . — Of combined properties for cal. year 1914, gross, $396.
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
695: net, after taxes, $106,681.
R O A D . — Operates 38 miles of track (including 4 miles of double track) In Stock $500,000 ($100)..........
Q-M
$500,000 See text
Montgomery and to Pickett Springs; 56 cars. Standard gauge; 70-lb. T First mtge $5,000,000 sinking! 1912
5 g M-N
600,000 M a y 1 1934
and 95-lb. girder r i . Power-house capacity, 4,000 k.w.
al
fund gold ($1.000)____c*(Int. at Equitable Tr. Co., N. Y., Trustee.
OFFICERS.— Pres., Ray Rushton; Sec., H. F. Crenshaw; Treas..
Remaining bonds may bo issued for additions and betterments at 80%
Ohas. E. Norton.— V. 102, p. 1718; V . 103, p. 1593; V. 105, p. 1714.
.
of cost, with certain restrictions. Subject to call as a whole, or In part, at
105 and Int. on any I t dav on 3 weeks notice. Semi-annual sinking fund
n.
began Jan. I 1914 of >4 of 1% of a l bonds outstanding. V. 95. p. 1331.
l
M O N T O U R S V I L L E , PA.
D iv id e n d s .— 1908. 6%; 1909. 6%; 1910 to 1912. inclusive. 8%.
M O N T O U R S V IL L E P A SS E N G E R R A IL W A Y .— A trolley road.
E A R N I N G S . — For voar ending Dec. 31 1917, gross, $185,904; not (after
taxes). $59,038. In 1916, gross, $163,372; net (after taxos), $56,271.
O R G A N I Z A T I O N . — Chartered In Pennsylvania June 28 1897. C o m
R O A D . — Operates city lines, 16.13 miles, and lnterurban and suburban.
monced operations Dec. 16 1897. Owns a l the stdck of the Montoursvllle
l
al
Electric Light Co. Stock auth. and Issued. $75,000. Funded debt auth. 15.13; total. Si.26. Standard gauge, 70 and 60-lb. T r i . 47 pass, cars
and Issued, $112,000 5 % 30-year gold bonds (tf) dated M a y 1 1908, lnt. (of which 34 pre-payment); 2 misc. cars and 1 elec, locomotive. Also owns
M. & N. Operates 5 >4 m. of track from Williamsport to Montoursvllle. Pa. an amusement park on Arkansas River about 5 miles from Muskogee.
OFFICERS.— Pres., I . D. Benson: V.-P., W. S. Benson; Sec. Sc Treas.,
t
E A R N I N G S . — 12 mos. end. Dec. 31 1917 ( n l Mont. Elec. Lt. Co.),
lc.
gross, $32,609; expenses, taxes, int., &c., $39,323; deficit, $6,714. For W. M. Cutllp; Local Mgr., R. D. Long.— V. 95, p. 1331.
cal. year 1916, gross, $28,641; expenses, taxes, interest, &c., $29,588:
deficit, $946.
N A S H U A , N. H.
OFFICERS.— Pros., O. L. Peaslee, Williamsport; V.-I*., F. C. Leonard
N A S H U A S T R E E T R A I L W A Y . — Trolloy.
Coudersport; Sec. & Treas., W. P. Beeber. Williamsport: Gen. Mgr.
Frank Rennlnger, Montoursvllle.— V. 94, p. 207, 1764: V. 95, p. 47.
O R G A N I Z A T I O N . — Incorp. Aug. 14 1885. Owns and operates 16.14
miles of main track. On July 1 1900 was leased to the Lowell Sc Suburban
for 99 years (succeeded by Bay Stato Stroet Ry.). Tho receiver appointed
M O R R I S T O W N , N. J.
in Dec. 1917 for tho Bay State St. Ry. terminated tho lease and turned
the property back to tho stockholders. It I oxpectod that suit will be
s
MORRIS COUNTY TR AC TIO N .— An electric road.
against the Bay State
for damages.
O R G A N I Z A T I O N . — Incorporated In N e w Jersey In 1899. Charter brought. — In Aug. 1917 the N.St. Ry. S. Comm. auth. an increase in fares
F a res
H. P.
gives company right of eminent domain. Built mostly on private right of on the company’ linos to 6 cents.
s
way. F r a n c h is e s through towns are perpetual or for 35 years.
STOCK, BONDS, &C.—
D a te .
I n t e r e s t . O u ts ta n d in g . D l v . A M a t .
On Feb. 211913 the N. J. Pub.Utility C o mm, approved the plan to Issue
$325,000 See text
$300,000 cap. stock to retire the $3,000,000 existing stock (one new share 8tock. $325,000 (par $100).............. .
4 g A-O
150,000 Oct 1 1931
for ten old).and $4,179,000 bonds of an auth. $5,000,000. to be secured by First mortgage. $150,000,1 1901
($1,000). gold...... c’tf/Int. at Old Colony Tr. Co., Boston. Trustee.
a mtge. to the Safe Dep. Sc Tr. Co. of Pittsburgh, as trustee; $3,000,000 for
O R G A N I Z A T I O N . — Incorp. on June 10 1907 In Maine to construct a
line 300 miles long connecting Minneapolis and St. Paul. Minn., and D u
buque. Ia. 45 miles of road between Minneapolis and Northfield, Minn.,
in operation (3 miles of which i on private right-of-way In Minneapolis),
s
bringing passonger and freight cars into the leased Minneapolis terminal
(see Electric Short Lino Terminal Co. in V. 100, p. 1832). The leaso of the
Chicago Great Western RR.’ line extending from Randolph to Mankato,
s
Minn., 67 miles, was canceled Feb. 1 1916.
The notes of 1915 were issued to provide funds to complete the l
ine
Into Minneapolis terminal and add to equipment. Minneapolis Trust
Co. i trustee of the indenture of collateral trust.
s
S T O C K A N D BONDS.—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$4,951,800
C o m m o n $15,000,000...... .....
....
3,332.400 ........
Pref $16,000,000 6 % non-cum-----750.000 Jan 1 1918
3-year notes ($500 & $1,000)__ 1915
6 J-J
See text
_______
1st M 30-year bonds____________
5%
100.000
Receivers certificates_______1916
________
___
$1,000,000 1st M. 30-yr. 5 % bonds are pledged as collateral for the notes.
Cont. & C o m m . Trust & Savings Bank, Chicago, trustee.
S to c k . — Preferred stock I redeemable.
s
OFFICERS.— Pres. & Treas..---------- ;V.-P.. O. N. Boynton. St.
Paul; Sec., M . I . Boutelle.— V. 103 p. 406. 844, 2079, 2429. 2343; V.
I
105, p. 73, 1420, 1898, 1999, 2094, 2156; V. 106, p. 1797.
Ma y , 1918.]
E L E C T R IC R A IL W A Y S
69
and Impts. at 85% of cost. $682,000 pledged as part security for Chatta
B o n d s . — Entire issue may be called at 105 and accrued interest.
nooga Railway A Light Co. 6 % notos due 1918. No sinking fund; callable
D iv id e n d s . — Under the lease to the Bay State St. Ry. dividends of 6 %
p. a. wore being paid, but payment duo Jan. 1 1918 was defaulted— see at 105 and Int, on any int. date on 60 days’notice. Int. payablo at Hodenpyl. Hardy A Co. and at office of trustee. V. 89, p. 846.
remarks above.
The l-year notes cau only be issued to the extern or 7 5 % of the face value
OFFICERS.— Pres, George A. Femaid, Boston.— V. 108, p. 86, 607,.
of the bonds pledged as security. Interest payable at office of E. W .
1036.
m _______
Clark A Co., Philadelphia, Pa. Secured by $682,000 Chatt. Ry. & Lt.
Co. 1st & r f 5s and $389,000 Lookout Mountain 1st M. 6s. Red. at par and
e.
NASHVILLE, TENN.
}nt. on any Int. date on 30 days’ notice.
T E N N E S S E E R A I L W A Y . L I G H T & P O W E R CO.
E A R N I N G S . — 12 mos. ending Dec. 31:
O R G A N I Z A T I O N . — Incorp. In Maine on April 23 1912. V. 94, p. 1120. D e c . 31
G ro s s
E zp . A
N et
I n terest.
S u r p lu s
Is a holding company and owns a l the stock or Tennessee Power Oo., prac
l
Y ear—
E a r n in g s .
T a xes.
E a r n in g s .
A c.
or D eficit.
tically a l the common and $335,300 pref. stock of the Nashville Ry. A Lt. 1917.... ..$1,356,342 SI.138,903 $217,439 $359,785 def$142,346
l
Co. and practically a l com. and pref. stocks of Ohatt. Ry. A Lt. Co. 1916______ 1,235,623
i
823,444
412,179 356,324
sur55,855
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
17,406,644 passengers carried in 1917, against 18,336,619 in 1916.
R O A D . — Including Lookout Mountain Ity., operates 80 miles or
C o m m o n $20,000,000 ($100)............ .
$20,000,000 ........
single track. Gauge, 4 f . 844 In. T and girder r i s
t
a l . 84 motor, 12
Pf $50,000,000($100)6% cum. . ...
Q-M
10,250,000 See toxt
trailers, 2 Incline cable and 8 work cars. Power I obtained from the Ten
s
Secured notes $3,500,000/ 1916
5 J-D
2.500.000 June 1 1918
nessee Power Co., which operates this company’ steam power stations
s
(Sl,000)red at 100 & Int.c*\Bankors Trust Co., N o w York, trustee.
The socurod notos were issued to replace $2,500,000 one-year 6 % note of 5.000 k.w. capacity as a reserve station.
OFFICERS.— Pres., C. M. Clark: V.-Ps., S. G. McMeen, H. L. Clark
articipating rocelpts due June 22 1916 (V. 101. p. 1015). They are the
Iroct obligation or tho company and are secured by $2,500,000 Tennessee and F. W . Hoover: Sec. & Treas., G. L. Estabrook; Asst. Sec. & Asst.
Power Co. 1st 6s and $2,500,000 common stock of the Nashville Ry. A Treas., G. W. Buchanan.— V. 105, p. 1522. 1707; V. 106, p. 497, 1461.
Light Co. V. 103, p. 666.
(a) Lookout Mountain Railway Co.
,
D iv id e n d s . — Dividends at rate of 6 % per ann. wore paid quarterly from
O R G A N I Z A T I O N . — Owns electric line on top of Lookout Mountain
organization of co. to and incl. Juno 1914. None since.
and, through stock ownership, controls the Lookout Incline Oo. (whose
E A R N I N G S . — Combined earnings of constituent companies: Report stock and bonds arc deposited under the company’ mortgage). Stock
s
for 1916 In V. 104, p. 1894.
a l owned by the Chattanooga Railway & Light Co. Private right-of-way
l
Y e a r s e n d in g
G ro ss
N e t (.after
In terest,
* D iv s . o n
B a la n c e ,
except short pioce of track on which fr a n c h is e expires in 1926.
D e c . 31—
E a r n in g s .
T a te s , A c ) .
%c.
M i n o r . S to ck . S u r p lu s
STOCK A N D BONDS—
D a te .
I n t e r e s t . O u ts ta n d in g .
M a tu r ity .
1917........ $5,258,659 $1,798,923 $1,510,051 $108,235 $180,637
......
$500,000 ........
Stock ($500,000)............ .
2,094,256 1,340,172
108,235 645,849
1916........ 4,883,636
1st mtge $2,000,000 ($1,000)\ 1913
6 g M-N
389.000 M a y 1 1956
gold_____ _____ ___ c*tf/Philadelphia Trust Co.. Phila.. Trustee.
•Dividends paid on stocks of constituent cos. not owned by Tenn.
B o n d s . — Lookout Mtn. Ry. bonds are red. at 105 and int. on any Int.
Ry., L. & P. Co.
date ou 60 days’ notice. $1,611,000 reserved for impts., Ac., at 85% of
P R O P E R T Y . &C.— The constituent cos. own and operate electric-light. cost of same. Bonds outstanding are pledged as part security for Chatta
power and traction properties In Nashville and Chattanooga, and the elec nooga Ry. & Lt. 5 % notes. Intorest payablo at offices of E. W . Clark &
tric light and power systems in Cleveland and several smaller c t e . A Co., Phila., and Hodenpyi, Hardy & Co., N e w York.
iis
number of other cit o , including Knoxville, Tenn., and Rome, Ga., are
ls
E A R N I N G S . — Included in Chattanooga Ry. A Light Co. earnings.
under contract for electric service.
„
RO A D . — Operates a cable road of 5,000 feet and has 9.8 miles of electric
OFFICERS.— Pres., C. M. Clark; V.-Ps., I . M . Byllosby, Goo. E.
I
on top of
„
„_
Hardy, E. W. Clark and F. O. Walcott: Sec. & Troas., G. L. Estabrook; road around and Pres., C. Mmountain.V.-P.. M. S. „ , .
. Clark;
Hopkins:
Asst. Soc. & Asst. Troas., William Lilley and Jacob tlekma. Under man G OFFICERS.— Gen. Mgr.. F. VV. Hoover.— V. 83. p. 323; Soc. A Treas.,
L. Estabrook:
V. 87, p. 226.
agement of E. W. Clark A Oo. Mat. Corp
V. 102, p. 1719, 1889: V. 103.
(
3) Tennessee Power Co.
„
_
p. 666: V. 104, p. 1265, 1894; V. 106, p. 1462.
Stock a > owned by Tennessee Ry., Light A Power Co.
l
(1) Nashville Railway & Light Co.— Street railway and lighting system.
O R G A N I Z A T I O N . — Incorp. in Tennessee on April 24 1912 as a consoli
$335,300 of the prof, and practically a l of the common stock owned by dation of the Eastern Tennessee Power Co. and Great Falls Power Co.;
l
Tenn. Ry.. Lt. A Pow. Co.
has also acquired the property formerly belonging to Sweetwater Elec. Lt.
O R G A N I Z A T I O N . — Incorporated In Tennessee on June 26 1903. Is a Co., Cleveland (Tenn.) El. Lt. Co.. Sparta Elec. Light A Power Co., and A.
s
reorganization of the Nashville Railway Co., sold under foreclosure of the A T. Power Co. F r a n c h is e s . — The co.’ power plants are owned In foe
t
latter's f r t consol, mtgo. The Nashville Ry. was a consolidation In 1900 and i s transmission lines are on private right of way and therefore not
is
of the Nashville Street Railway, the Nashville A Suburban and the Clti- subject to franchise limitations. Franchises of distribution companies
zons’ Rapid Transit. Tho Nashville Ry. & Light Co. has absorbed the aro favorable.
Cumberland Electric Light & Power. Does practically a l the street r i
l
al
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
way and commercial lighting and power business in Nashvillo. F r a n c h is e s Stock $20,000,000 ($100)....— All owned by Tenn. Ry., Lt. A P. Oo.—
perpetual; those covering tho principal railway lines contain a provision First mtge $50,000,000 gold( 1912
5 g M-N
$7,971,000 M a y 1 196$
giving tho city tho right to purchaso after 1923.
guar.p A 1 ($1.000)..c*ntflint, at Bankers Trust Co.. N. Y .Trusteo
B o n d s . — Of tho remaining bonds, $3,975,000 are in treasury, a l of which
l
In terest.
O u ts ta n d in g . M a t u r it y .
D a te .
STOCK A N D BONDS—
aro pledged as collateral on advances by the Tenn. Ry., Lt. A Power Co.
....... $4,000,000 .......
C o m m o n $4,000,000 -.($100)
Q-J
2,500,000 Jan T8. 1H ($2,500,000 boing deposited under tho Tenn. Ry., Lt. A Power Co. collat
Pref 5 % cum $2,500.000($100) ns
6 J-J
65.000 July 1 1920 eral noto). $554,000 are reserved for permanent oxts., add’ and acquisi
M c G & M t V Horse RRlstM) 1886
.
......
tions, and $37,500,000 are reserved for exts.. acquisitions and impts.
($100. $500 & $1,000).entffNashville Tr. Co.. Trusteo.
Second sories ($1,000) .entfi 1887 6 J-J
485.000 July 1 1937 S in k in g fu n d , 1 % per ann. of bonds out, began M a y 1 1917: to bo used for
extraordinary renewals, replacements or additions, enlargements and exten
/Nashville Tr. Co., Trusteo.
Nashv & Edgefiold consol M l 1889 6 J-J
274.000 Jan 1 1920 sions: also for cancellation of bonds. Red. in whole or in part at 10744 & int.
s
s
(closed)($500&$1,000) entf (Nashville Tr. Co., Nashvillo, Tenn., Trustee on 12 week’ notico. See V. 95, p. 549. F. N. B. Close, N. Y., i also trustee .
Nashville St Ry 1st mortgage! 1895 5 g J-J
907,000 Jan 1 1925
E A R N I N G S — For years ending Dec. 31:
1917.
1916.
(eiosod) g (*l.000)-.c*ntf (Nashville Trust Co., Nashville, Tenn., Trus
1917.
1916.
Nashv Ry A Lt consol M gf 1903
5 g J-J
4.110.000 July 1 1953
Gross earns..$1,910,563 $1,636,716 Total net earnings $682,029 $759,845
(closed) ($1.000)____c*tf (Interest at Guaranty Trust Co., N. Y..Trus. Net (after rent
Int. ( e s portion
ls
Nash Ry A Lt ref A ext mtge f 1908 5 g J-J
4.386.00O July 1 I . s
9>
ch’ ' e to cap'll 605,485 454,919
gl
als A taxes) 652.468
675.234
$15 000.000 ($500
and)Int. at Ouarantv Trust Co., N. Y.. Trusteo Surp. earns, of
Surplus......$76,544 $304,926
$1,000) gold____ ,___ c*tf [ or at Nashvillo Trust Co.. Nashvillo.
distrib. sys. 29,561
84,611
B o n d s . — Int. on both series orMcGavock A Mt. Vornon Horse RR. bonds
P R O P E R T Y . AO. Owns water-power sites on the Ocoee River near
i payablo at Fourth A First Nat. Bank, Nashville, and N. Y. f scal agent. Parksvllle, Tenn., with an ultimate capacity of 80.000 h. p. Option has
s
i
The Nashville Ry. A Lt. consols of 1903 aro subj. to c l on any int. date on been secured on site s fo r th e deve lo p m e n t o f 30.000 h. p. a d d it io n a l, and a t
al
30 days’ notice at 10744 and int. S in k in g f u n d $30,000 per annum, com Groat, F a lls , T e n n ., ow ns a site c a p a b le o f d e ve lo p in g 80.000 h. p. O f th e
menced Juno 30 1913, but only I company has a surplus above charges and d e ve lo p m e n t in o p e ra tio n , Ocoee No. 1 18,750 k. w ., w as p u t in o p e ra tio n
f
,
dlv on pref. stock: bonds to be kept alive In sinking fund. Int. on the J a n . 1912 a n d N o . 2 , 15.000 k . w ., in com plete o p e ratio n A p r il 1 1914.
Nashvillo & Edgefield Consol. 6s payablo at office of company i Nashville A 13.000 k . w . ste a m p la n t a t P a r k s v llle w as p laced in o p e ra tio n in J u l y
n
'or Hanover Nat. Bank.N. Y. Int. on Nashville St. Ry. bonds of 1895 n»v
,wid N o v . 1916, a n d a 10.000 k . w . h y d ro -e le c tric p la n t a t G re a t F a lls p laced
able at Mechanics’Nat. Bank, N. Y. Of the now ref. & ext. bonds, $5.811
In o p er. J a n . 15 1917: also o w n s a 300 k . w . h y d ro -e le c , p la n t at. S p a rta : to ta l
000 aro reservod for prior liens and remainder may be Issued at rate of $ 1,000 c a p a c it y , 57,050 lc. w . P o w e r is also p u rch a se d fro m C h a tta n o o g a A
for each $1,250 expended for future impts. A equipts., not over $700,000 to Tennossoo R iv e r P o w e r C o . A lso ow ns 534 m iles a n d leases 31 m iles h ig h be issuod in any calendar year, and subject to certain other conditions ten sio n tra n sm issio n lin e s. S u p p lie s p ra c t ic a lly a ll e le c tric c u rre n t used in
Bonds cannot bo called. $076,000 of those reported outstanding are held N a s h v illo , C h a tta n o o g a , K n o x v ille , M u rfre e sb o ro , C le v e la n d , A th e n s,
in tho treasury. Sinking fund of 44 of 1 % of outstanding bonds starts E to w a h , Sw ee tw a ter, L e n o ir C it y , L o u d o n , F r a n k lin a n d S p a rta , T e n n .,
July 1 1918, bonds in sinking fund being kept alive. See particulars of a u d R o m o a nd D a lt o n , G a . H a s contract, fo r large b lo c k o f p o w er w ith the
bonds, property, &c., in V. 87, p. 227.
A lu m in u m C o . o f A m e ric a a t M a r y s v ille : atso h a s c o n tra c t w ith th e A m e ri
D iv id e n d s . — The f r t dlv. on proL stock— 2 44%— was paid Jan. 1 1905: can Z in c C o . a t M a s c o t.
is
then 244 % semi-annually to July 1910. In Oct. 1910 changed to quarterly
OFFICERS.— Pres., C. M . Clark; V.-Ps., G. E. Hardy, S. G. McMeen,
and paid 14 %. and same amount quar. since to and incl. Jan. 1918. C o m F. C. Walcott and F. W. Hoover; Sec.. A Treas., G . L . Estabrook. Under
4
mon stock I practically a l owned by Tenn. Ry., Lt. A Powor Co.
s
l
management of E. W. Clark A Co. Mgt. Corp., Phila. V. 98, p. 1618,1698.
E A R N I N G S . — Yoars ending Dec . 1
3:
I n te r e s t,
D e c . 31
G ross
N e t (a fte r
P r e f .D l v .
B a la n ce.
U N I O N T R A C T I O N CO.
A c.
Y ear—
E a r n in g s .
T a x e s ).
5%.
S u r p lu s
A N I Z A T I O N . — Incorp. in Tennessee'on Oct. 12 1917 as
1917
____ $2,458,321 $868,903 $490,071 $125,000 $253,832 to O R GNashvillo-Gallatin Interurban Ry., sold at foreclosure Sept.successor
tho
25 1917.
508,971
125,000
1910------2!383!041 929,853
_____
__
295,882
S T O O K ' A N D BONDS.—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
32,539,’
470 passengers carried in 1917. against 33,023,983 in 1916.
P R O P E R T V . Operates 101.18 miles or single track. Has 227 passenger Stock $300,000 ($100)........ .
—
-------$300,000 ---- ----
and 15 work cars. Hydro-electric powor I obtained on advantageous First M ($300,000) gold / 1917
s
6 ' J-D
300.000 Dec 1 1947
($100)...... __e*Ar.cpt(Nashville Trust Co.. Trustee.
terms from tho Tennessee Powor Oo., which operates this company’ steam
s
plants of 1 ,1 0 k w capacity as rosorvo.
70 .
B o n d s . — Aro callable on any interest date at 105.
EARNINGS.— For 3 mos. ending Dec. 31 1917, gross, $22,174; net, after
OFFICERS.— Pros., C. M. Clark: V.-P.. O. G. McMeen; V.-P. & Gen
Mgr., F. W . Hoover; Sec. A Troas., G. L. Estabrook.— V. 106, p. 602, 1461
taR O ’
AE>.'— Operates 2344 miles of track between Nashville and Gallatin,
(2) C h a tt a n o o g a R a ilw a y & L ig h t C o.
entering Nashvillo over tracks of Nashville Ry. A Light Co. 70-lb. T r i s
al.
Tennessee Ry., Lt. A Pow. Oo. owns practically a l of the $3,000,000
l
^*cTf F I O E R S ? Pres. and Gen. Mgr., H. H. Carson; V.-P., John A. Bell;
—
common and $2,000,000 pref. stock.
O R G A N I Z A T I O N . — Incorporated In Tennessee on July 29 1909 as a Secy, and Treas., Guilford Dudley.— V. 105, p. 1618, 1709.
consolidation of the Chattanooga Railways Co. and Chattanooga Electric
Co., per plan V. 88, p. 1497. V. 89. p. 285. Owns entire capital stock of
This com*pany lateli?19M h i erased I s authorized capital from $500,000
t
Lookout Mountain Ry. Co. Does practically a l the street railway, elec
l
s
tric light and power business In Chattanooga and vicinity, incl. tho electric to $1,000,000 and i constructing a trolley line In Nashville. 444,nilles
t
linos up and on top of Lookout Mountain. Suburban linos run to Mission built, 2 miles In operation. 3 leased cars In service. In April 1915 I was
ary Ridge, Ohickamauga Park and Lookout Mountain. Franchises, with reported that the Detroit Interests had sold their control. V . 100. p. 1349.
minor exceptions, without limit of time and, according to decision of U. S
OFFICERS.— Pres., Walter O. Palmer, Nashville; V.-P., W. H. SawSupremo Court, believed to bo perpetual.
yor (E. W. Clark Mgt. Corp.), Columbus, O.; Gen. Mgr., G. B. Howard.
S tr ik e s . A striko begun Sept. 7 1917 because of tho co. s demand to have Nashville— V. 99. p. 1366; V. 100. p. 1349.
—
each employee sign a separate contract, was brought to an end Oct. 5 1917,
settlement Doing based on the contract in existence at tfino of strike, with
amendments providing for arbitration of a l future grievances. Each e m
l
N A T C H E Z , MISS.
ployee was to sign his name to tho contract, bearing also the signatures of
SOUT
tho officers of the union and of the management of the co. V . 105, p. 1522 electric. H E R N R A I L W A Y & L I G H T CO.— Street, railway, gas and
Several weeks later tho men struck again, being dissatisfied, i i alleged,
t s
O R G A N I Z A T I O N . — Incorporated In 1908 and took over Southern
with the now employment contract and the co. s method or enforcement.
V. 105, p. 1707. On Jan. 25 1918 tho striko was called off. V. 106, p. 497. Ltghi A Traction Oo. (V. 85. p. 1144). which was a consolidation of the
Natchez Electric Street Ry. A Power Co., the Natchez Light. Power A
STOCK A N D BONDS—
D a te .
I n te r e s t.
O u ts ta n d in g .
M a t u r it y
Transit Oo. and the Natchez Gas Light Oo. Gas franchise perpetual: street
C o m m o n $3,000,000 ($100).......
......
*2.000.000 ......
railway and electric lighting franchises expire in 1949. Does the entire
Pref $2,000,000 5 % cum($l00)___
Q-J
2.000.000 .....
First and refunding mortgage! 1909
5 g M-N
2,395,000 M a y l r>5« street railway, gas, electric-lighting and power business of Natchez. Has
contract with city for street lighting which expires in 1919.
$15,000,000 g ($1,000) c*tf/Int. at Fidelity Trust Co., Phila., Trusteo.
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
Ohatc Rys 1st cons mege, soo( 1906
5 g M-N
2,165.000 M a v l 1954
Stock $45,670 ($100)..-..................
$45,670 ........
i o t ($500 & $1,000) g_c*tf IInt. at Commercial Tr. Co^ Phtla. .Trust
.x
5 g A-015
335,000 Apr 15 1933
Chatt El Ry 1st M $625.000( 1898
5 g J-J
62o,000 Jan I 1019 Sou Lt A Trac 1st M $500.-1 1903
000 gold ($1.000)____ c*tf)Int. at Inter-State Trust A Bkg. Co.. N e w
g not rod ($1,000) ..c*ntf( Int. at Maryland Trust Co., Balt., Trus"1*
*
(Orleans. Trustee, or at First Nat. Bk.. N. Y.
1-year gold notes, series "C,” f 1917
6 g J-D
750,000 Juno 1 1918
B o n d s . — $160,000 are reserved for betterments and extensions. Are sub
81,000,000 ($l,000)--C.ntf(Ponn. Co. for Ins. on Lives, A.c, Trusteo.
ject to call at 105 and int. $5,000 have been retired. See V. 76, p. 1086.
S ’o r k . Pref. shares equally with com. arter com has received 5 %
—
R O A D . — Operates 6 miles of track: 12 cars.
B i n d s . — The $3,000,000 Chattanooga Rys. raege. has been closed c l
al
OFFICERS.— Pres., Frank J. Duffy. Natchez: V.-P., E. H. Ratcliff
able any int. date at 107 and Int. on 3 mos ’notice. Of the 1st & r f bonds
e.
Natchez: Sec. A Treas.. J. W . Btlltnirslay. N e w Orleans.— V. 86. P. 1591
$2,790,000 aro reserved for prior liens and $9,133,000 for ext., betterments
S
E L E C T R IC R A IL W A Y S
70
N E W A R K , N . J.
("'PUBLIC S E R V I C E C O R P O R A T I O N O P N E W JERSEY.— Street
railway, gas and electric.— (See m a p o n p a g e s ± 8 0 a n d 81.)
O R G A N I Z A T I O N . — Incorporated In N e w Jersey on M a y 6 1903 and
controls, through ownership of stock. Public Service Ry. Oo., Public
8ervlce Gas Co.. Public Service Klee. Co., Orange Sc Passaic Valley Ry. Oo.
and United Elec. Oo. of N. J. The stockholders of the two cos. last named
and also the stockholders of certain of the cos. out of which Public Service
Ry. Co. was subsequently formed (namely North Jersey Street Ry. Co.,
Jersey City Hoboken & Paterson St. Ry. Oo. and Elizabeth Plalnf eld A
Central N e w Jersey Ry. Oo.) were given certificates described below In exch.
far their stock. See plan In V. 76, p. 865 and also p. 1249. The Fidelity
Trust Oo. of Newark financed the transaction.
Controls practically the entire street railway business of Northern N e w
Jersey and the gas and lighting Interests of the greater part of N e w Jersoy.
Also owns entire capital stock of Middlesex Electric Eight Sc Power Oo.,
Morristown Gas Light Co. (V. 91, p. 95), Nichols Elec. Light & Power Co. of
Nutley, N. J.. Citizens1 Elec. Light. Heat Sc Power Oo. (Perth Amboy,
N. J.), Burlington Elec. Light & Power Co.. Public Service RR. and Weehawken Contracting Co.; a majority of stock of Princeton Light, Heat &
Power Co. and Shore Lighting Co. and practically a l of the common stock
l
of N e w Jersey Sc Hudson River Ry. & Ferry Co.
M e r g e r o S u b s id ia r ie s . — In 1907 North Jersoy Street Ry. Oo., Jersey
f
City Hoboken tc Paterson Street Ry. Oo. and United Street Ry. Oo. of
Central Jersey were consolidated undor the name of Public Service Ry. Co.,
which see below. V. 85, p. 406 and 470. To Public Service Ry. Co. also
have been transferred the leases of various railways formerly held by Public
Service Corporation. On Dec. 28 1915 the merger of the Pub. Service
Ry. and the P. S. Newark Terminal Ry. was ratlfiod.
In Oct. 1909 al leasehold Interest In gas properties and a l rights under
l
l
aperating agreement with Plainfield Gas Light Co. were assigned to the
Public Servlco Gas Co., which see bolow; also V. 89. p. 594, 721. 847.
In July 1910 a l leasehold Interest In electric light and power properties
l
were assigned te the Public Service Electric Co. V. 90, p. 1614.
N e w a r k T e r m in a l . See Public Service Ry. below.
—
F a r e D e c i s i o n . The U. S. Supreme Court on Juno 8 1914 affirmed the
—
decision of the N e w Jersey Court of Errors and Appoals, holding that the
Ghosen Freeholders of Hudson County, N. J.. had the right to reduce fares
to 6 cents per round trip on the Port Richmond (Staten Island) Sc Bergen
Point (N. J.) Ferry Co., which I owned by the Public Service Corporation.
s
After operating for a year under this rate, an Injunction was granted by
the U. 8. Dlst. Court and the 5-cent one-way Tare restored as of Jan. 1 1916.
pending a hearing.
F a r e I n c r e a s e s A s k e d . See Public Service Railway below.
—
S tock I n c r e a s e . — On July 26 1916 auth. capital stock was Increased from
825,000,000 to §50,000,000. Shareholders or record Oct. 2 1916 had the
right to subscribe for $5,000,000 of the now stock pro rata at par. V. 103,
D. 1119. 2239.
S u b . C o . B u s S e r v ic e . In M a y 1918 the company’ subsidiary, the N. J.
—
s
Transportation Co., applied to the P. U. C o m m , for authority to operate
18 motor buses from Hamburg Place and Gotthart St., Newark, to the
shipbuilding plants at Port Newark Terminal, fare to bo 5 cents. V. 106.
p. 2011.
P o r t N e w a r k E x t e n s i o n . See Public Serv. Ry. bolow and V. 106, p. 1689.
—
T u n n e l f o r V e h ic le s . — For report on feasibility and value of tunnel for
motor trucks between 12th St., Jersoy City, and Canal St., N. Y. City,
■se V. 104, p. 1593, 1703.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g . M a t u r it y .
Stock $50,000,000 ($100).......
Q - M 30 $29,999,600 Mar.118,2%
Trust certificates $20,200.0001 1903 6 M - N
*20.050.770 Perpetual
ntfiFidelity Trust Co.. Newark, Trustee.
General mortgageS50.000,000[ 1909 5 g A-O
50,000,000 Oct 1 1959
gold ($1,000) ■ f_____ c*tfllnt. at Fidelity Trust Co., Newark, Trustee.
[
or at office o r J. P. Morgan Sc Co.
Three-year coll notes $7,500,-1 1916
5 g M-S
7,500,000 Mar 1 1919
000 gold ($1,000).... -c*/Fidolity Trust Co., Phila.. Pa., trustee.
Bills payablo Dec. 31 1917—
-------o6.931.000 ....... _
♦Or which $867,485 owned by the Corporation.
a Includes a $2,000,000 6 % note secured by $2,500,000 Gen. M . 5s, due
1959; $1,600,000 6 % notes secured by $2,000,000 Pub. Serv. Elec. Co.
stock: a 4 % note for $81,000 secured by $90,000 U. S. Liberty Loan bonds;
$3,250,000 other 6 % notes.
S to ck . The stock listed on N. Y. Stock Exchange.
—
B o n d s . The trust certlfs. bore 2 % lnt. (dating from Juno 1 1903) the f r t
—
is
two years, 2VS% the third year, and increased by H % each following year
until 6 % was reached In the tenth year, which i tho rate now paid. See
s
V. 80. p. 164. The following shows the torms upon which tho stocks of the
constituent companies were exchanged for the trust certificates. The
■tocks acquired are pledged as security for the trust certificates.
T o ta l
S tock .
T o ta l
D ep o sited ,
N ew
T o ta l C tfs .
C e r t if i - I f A l l S tock
ca tes. E xch a n ged .
•North Jersoy Street R y .... $15,000,000 $14,994,400 4 0 %
•Jersey City Hoboken Sc Pat
erson Street Ry......... 20.000.000 19,984.600 3 5 %
•Elizabeth I lalnflold & Cen
’
tral Jersey Ry. C o ....... 3,000,000
3,000,000 3 0 %
Orange & Passaic Val. Ry. Co. 1,000,000
923,500 3 0 %
United Electric C o ________ 20,000,000 19.604,500 30 %
$6,000,000
7,000,000
900,000
300,000
6.000,000
Total------ ------ ---- -........... -............ $20,200,000
• N o w merged iu Public Service R a ilw a y Co., which seo below.
The trust deed provides that the stocks pledged shall not be used so as to
Increase the capital stock of any of the companies nor to create any new
Hens upon tho respective companies except to take up existing debt of any
such company or of underlying or subsidiary companies.
$50,000,000 M o r tg a g e . — Of the $50,000,000 bonds reported outstanding,
$1,329,000 have been purchased by the sinking fund and $12,500,000
are treasury bonds, $10,000,000 thoroof being deposited as collateral
to the 3-year collateral gold notes due March 1 1919 and $2,500,000
as collateral to a $2,000,000 note. For security of bonds see V. 89. p. 1348;
V. 99, p. 698. Redeemable as a whole (but not In part) on any Interest
date beginning Oct. 1 1919, at 105 and int. Commencing Aug. 1 1913, an
annual sinking fund payment of $209,500 draws bonds at 105 and l t
n.
Bonds are listed on N. Y. and Phila. Stock Exchanges. V. 91. p. 717:
V. 92, p. 1179; V. 93, p. 1191.
P
As collateral to the notes of 1916 are deposited $10,000,000 Public
Service Corporation general mortgage 5s. Notes are red. at par and I t
n.
on any int. day. Prin. and int. payablo without deduction for any taxes
required by any present or future law of tho U. S. or of any State, county or
municipality, not Including, however, the normal Federal income tax.
V. 102, p. 977.
D iv id e n d s . — First div. of 1 % was paid June 29 1907; 1 % was paid Sept. 30
1907 and 1 % Dec. 31 1907. In 1908.4%. In 1909. 414%. In 1910,5%.
in 1911 to 1914. 6%. In 1915, 6 X % . In 1916, 7 % % . In 1917, 8%.
In 1918, March, 2%.
R E P O R T . — For cal. year 1917, report In V. 106, p. 1454, 1467.
O ro ss E a r n in g s —
1917.
1916.
1915.
1914.
Railway company.... $19,494,678 $18,255,014 $16,638,142 $16,379,310
Gas company........ 12,954,256 11,911,626 10,764,878 10,555,550
Electric company..... 15,240,114 12,898,064 10,487,281
9,340,749
Total gross earnings..$47,689,018 $43,065,304 $37,890,301 $30,275,615
Oper. expenses Sc taxes.$30,539,369 $25,863,854 $22,094,678J$19.892,708
Amortization charges ..
\ 1,303,609
Total expenses.....$30,539,369 $25,863,854 $22,094,678 $21,196,317
Net earnings........ $17,119,679 $17,201,450 $15,795,623 $15,079,298
P. S. Corp. of N. J. Inc.
from securs. pledged Sc
from mlsc. sources... 1,729,865
1,802,536
2,351,809
2,484,645
Total Income....... $18,879,544 $19,003,986 $18,147,432 $17,563,943
D ed u ct—
lnt. Sc rentals of leased Sc
controlled companies_$12,299,838 $11,903,114 $12,209,215 $12,097,110
Fixed chgs. P.S. Corp.. 4,202,307
4,099,005
3,966,965
3,841,496
Cr.5.826
124,947
42,248
Other deductions.... . C r . 117,161
DIvs. P.S. Corp. stk... (8)2399,968(7 Ji)1937500(6 X) 1562500^(6) 1.500.000
Balan e. surplus....
$94,593
$1,010,193
$283,805^
$83,089
[Vol. 106,
OFFICERS.—Pres., Thos. N. McCarter; V.-Ps., Randal Morgan, An
thony R. Kuser, Percy S. Young, E. W. Wakelee: Sec., Percy Ingalls;
Treas., T. W. Van Middlosworth; Comp., Wm. S. Barker.—V. 106, p. 87,
190, 500, 608, 1037, 1345, 1454, 1462, 1467, 1689, 2011.
PUBLIC SERVICE ELECTRIC CO.
Controlled by Public Service Corp. by ownership of entire capital stock
except directors’ shares.
ORGANIZATION.— Incorporated In New Jersey on June 13 1910.
L e a s e s . —In July 1910 Public Service Corp. assigned to Public Service
Electric Oo. the leases of United Elec. Oo. of N. J., Middlesex Elec. Light Sc
Power Co., Weehawken Contracting Co., Nichols Elec. Lt. Sc Power Co. of
Nutley, N. J., and Citizens’ Elec. Light, Heat Sc Power Co. and the electric
properties of South Jersey Gas, Elec. Sc Trac. Co., The Paterson Sc Passaic
Gas Sc Elec. Co., Somerset Union Sc Middlesex Lighting Oo. and The Gas
Sc Electric Oo. of Benson County. Also leases Burlington El. Lt. Sc Pow.Co.
Olnnamlnson Elec. Lt., Pow. Sc Heating Oo. and Bordentown Elec. Oo.,
and electric properties of Princeton Light, Heat Sc Power Co. and Shore
Lighting Co. In addition leases and operates the power stations owned by
Public Service Ry. Co.
R a te I n c r e a s e .—In Feb. 1918 the N. J. P. U. Comm. auth. an increase of
25% in wholesale and certain retail power rates as a "war emergency
measure.”
STOCK.—Auth., $50,000,000 (increased from $30,000,000 in May 1917):
outstanding, $27,000,000, all owned (except directors’ shares) by Public
Servico Corp. No bonds. Real estate mtges., $312,033. On Sept. 25
1917 the N. J. P. U. Comm. auth. the issuance of $5,000,000 additional
capital stock for impts., &c., of which $2,000,000 has been Issued, making
$27,000,000 outstanding.
PROPERTY, &C.—On Dec. 31 1917 had 18 generating stations with a
capacity of 265,348 k. w., and 65 sub-stations; 835 miles of transmission
lino and 155 miles of conduit. Meters, 159,131. Number of street arc
lamps, 10,073, and stroot incandescent lamps, 31,376. K. w. hours sold In
1917, 371.509,459. Total connected load in k. w., Dec. 31, 1917, 367,021.
OFFICERS—Pres., Thos. N. McCarter; V.-Ps., Edmund W. Wakelee
and Percy S. Young; V.-P. Sc Gen. Mgr., Farley Osgood; Treas., T. W.
Van Middlesworth; Sec., Percy Ingalls.—V. 106, p. 196, 1132.
United Electric Co. of New Jersey.
ORGANIZATION.—Organized March 4 1899.
L e a s e .—Leased July 1 1907 for 999 years to Public Service Corporation.
In July 1910 lease assigned to Public Service Electric Co. Under the
lease the $400,000 surplus cash assets of company were divided and a
special dividend of 5% was paid June 29 1907 (V. 85, p. 44). Rental Is
3% for two years, 4% for next two years and 5% thereafter. V. 85, p. 44.
public Service Corporation owns $19,604,500 of this company's stock and
$683,000 of Its first mortgage bonds.
STOCK AND BONDS— D a t e .
In t e r e s t . O u t s t a n d in g .
M a t u r it y .
J-J
$20,000,000 See text
Stock$20.000,000.............................
First mtgo $20,000,000 gold 1899 4 g J-D
18.617,500 Juno 1 1949
($500 and $1,000) _.c*.ntf Int. at N. J. Title Gu. Sc Tr. Co., J. O., True.
Con Lt Heat Sc Pow $1,000, 1898 5 g J-D
308,000 June 1 1938
000 ($500) gold.......... _.tf Int. at N. J. Title Gu. Sc Tr. Co.,J. O., Trus.
Nor Hudson Lt Heat Sc Pow 1898 5 g A-O
367,000 Oct 1 1938
__
$2,000,000 ($1,000)___ tf Int. at N. J. Title Gu. Sc Tr. Co., J. O., Trus.
B o n d s . — In addition to the above there are $115,000 Con. Lt., li . & Pow.
t
bonds in hands of trustee. Int. on 1st mtge. I guaranteed by Pub. Serv.
s
Corp., which also agrees to provide for payment of prln. by extension, re
funding or otherwise. V. 90, p. 114. First mtgo. bonds are reserved to re
tire Con. Lt., Ht. Sc Pow. and North Hudson Lt., Ht. & Power Bonds.—
V. 85. p. 44. 288. 415; V. 90. p. 111. 1106: V. 93. p. 414; V. 94. p. 987.
Middlesex Electric Light & Power Co.
O R G A N I Z A T I O N . — I a consolidation of Cartaret Electric Light Sc
s
Power Co. and Middlesex Lighting Co. Was leased M a y 1 1908 for 999
years to Public Service Corp. for an annual rontal of 5 % on stock and int
on bonds. Lease assigned to Public Service Electric Co. In July 1910.
Stock a l owned (except directors’ shares) by Public Service Corporation,
l
which also owns $21,000 of the first mortgage bonds,
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
......
$175,000 .........
Stock ($200,000)... .... ...... .
First mortgage ($200,000)1 1905
5 g J-J
181,000 Jan 1 1955
gold................ tf/Fidelity Trust Co., Newark, Trustee.
B o n d s . — Of the bonds, $19,000 are roserved for improvements.
Nichols Electric Light & Power Co. of Nutley, N. J.
O R G A N I Z A T I O N . — Incorp. in N. J. Jan.3 1890. Stock $25,000 ($50):
a l owned by Public Service Corp except directors’shares. N o bonds. Was
l
leased M a y 1 1908 for 999 years to Public Service Corp. (lease assigned t*
Public Serv. Elec. Co. In July 1910) for an annual rental of 10% on stock.
Weehawken Contracting Co.
O R G A N I Z A T I O N . — Incorp. in N. J. M a y 9 1904. Was loased on
Jan. 1 1910 for 999 years to Public Servico Corp. for.bond lnt and 6 % on
ref stock Leaso assigned in July 1910 to (Public Servico Electric Co
tock a l owned by Public Service Corp ,except directors’shares
l
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a l u r it
Stock com $70,000 ($50)...................
$70,000 .........
Prof $41,050 ($50)........... -............
41.050 .........
First mortgage $30,000 goldf 1908
6 g F-A 20
30,000 Feb 20 1938
($250)____________ c*tf (Interest at Weehawken Trust Co., trustee.
Citizens’ Electric Light, Heat & Power Co.
Leased to Public Service Corp. June 15 1910 for 999 years, and In July
1910 leaso assigned to Public Service Electric Co.; rental equivalent to
10% on capital stock.
O R G A N I Z A T I O N . — Incorp. in N e w Jersey on Mar. 1 1905. Stock
auth., $125,000 ($25); outstanding, $41,400 (ntf). a l owned by Public
l
Service Corp. except $225 In hands of public, Incl. directors' shares.
Burlington Electric Light & Power Co.
O R G A N I Z A T I O N . — Incorporated Oct. 6 1888 In N e w Jersey. Public
3ervice Corp. owns ontlro Issue of stock, except directors’ shares. Stock
auth., $25,000 ($50) outstanding, $17,550. N o bonds. Leased for 900
years from M a y 1 1911 to Public Serv. El. Co. at a rental of $2,250 per ann.
Clnnlminson Elec. Light, Power & Heating Co. of Riverton, N. J.
O R G A N I Z A T I O N . — Incon>. Nov. 28 1892 and loased to Public Service
Elec. Co. April 1 1914 for 46 years at a rontal consisting of tho amount
ascassary to maintain the corporate organization of the lessor, tho intorost
on bonded Indebtedness of lessor, and $100 per ann., payablo each Apr. 1
.
All stock ($50,000 authorized and $20,000 outstanding) and bonds
($40,000) owned by Riverside Traction Co.
Bordentown Electric Co.
O R G A N I Z A T I O N . — Incorp. M a y 28 1912, and I leased to Public Serv.
s
Elec. Oo. April 1 1914 for 46 years for $100 per annum and amount neces
sary to maintain corporate organization of the lessor. All tho $50,000 auth.
and outstanding stock of this company I owned by the Riverside Traction
s
Co. N o bonds.
Paterson & Passaic Gas St Electric Co..
Somerset Un. & ,
Middlesex Ltg. C o ....
South Jersey Gas, Elec. & Traction Co.
See below undor Public
•Gas & Electric Co. of Bergen County__
Service Gas Co.
Shore Lighting C o .....-...........
Princeton Light, Heat & Power C o ....
S
PUBLIC SERVICE GAS CO.
Controlled by Public Service Corporation by ownership of entire capital
•tock except directors’ shares.
ORGANIZATION.— Incorporated In New Jorsey and was created by
•hanging the name of tho old Oxy-Uydrogon Oo. of tho United States
(Incorporated In New Jersey In 1873). This latter Is said to have had a
perpetual charter under legislative grant conveying the right to manufacture
and distribute gas throughout the State. Company has no bonds.
Leases.—On Oct. 1 1909 Public Serv. Corp. assigned to Public Sorvlce Gas
Oo. the Ioases of Essex & Hudson Gas Co., Newark Consolidated Gas Co.,
The East Newark Gas Light Oo. and Hudson County Gas C o.,and, In so far
as they relate to tho manufacture and distribution or gas, tho leases or South
Jersey Gas. Elec. & Trac. Co., tho Paterson Sc Passaic Gas Sc Elec. Co.,
Somerset Union & Middlesex Lighting Co. and Tho Gas Sc Elec. Oo. of Ber
gen County. V. 89, p. 594, 721. Operating agreement betwoon Plalnflold
Gas Light Co. and Public Service Corp. was also assigned to the Public
Service Gas Co. Also leases tho Ridgewood Gas Co. and Morristown Gas
Light Oo., and the gas pronertles of Princeton Light, Heat Sc Power Oo.
and Shoro Lighting Co.
ELECTRIC RAILWAYS
Ma y , 1918.]
Stock. $30,000,000; $13,600,000 outstanding a l oiroodby Pub.Ser.Oorp.
l
except directors' shares. In Sept. 1917 the Issuance of $1,000,000 additional
capital stock was approved by the N. J. P. U. Comm., making $13,600,000
°UStockdwfii be Issued (V. 89, p. 694) from time to time at par to Public
Service Oorp. only for cash or for Improvements at actual cost thereof.
N o bonds, lteal estate mortgage, $248,167.
. Aqceptlng the order of the Board of Public Utility Com—
mlssloners, made on Dec. 27 1912. the company reduced I s rates In the
t
Passaic division on Feb. 1 1913 from $1 10 per 1,000 cu. f . (with a reduc
t
tion of 10c. I b l i paid within a certain time) to $.90 per 1,000 cu. f .
f il s
t
flat, and In pursuance of the Board’ recommendation sot the same reduced
s
rate throughout the State on M a y 1 1913. See>under'Pub. Serv. Oorp. in
V. 96, p. 136. Validity of order was upheld on July 7 1913 by the N e w Jer
sey Supreme Court (V. 97, p. 238). but on appeal to the Court of Errors
and Appeals the decision of the former was reversed on Dec. 9 1914 by a vote
of 6 to 4. V. 99, p. 1749. On June 14 1915, however, the Court of Errors
reversed I s dec/sfon of Dec. 9 1914 by the same vote, and sustained tho
t
finding of the lower Court upholding tho order. V. i00, p. 2086. The
company appealed to the U. S. Supremo Court but In 1917 the case was
dismissed upon tho co's request.
„,
__. .
.
Tho Court also reversed i s decision dismissing the appeals of the c ties
t
i
of Passaic and Paterson, which sought to have an 80-cent rate put into effect.
In Oct. 1917 the N. J. Bil. of P. U. Co m m , denied the petition of tho
gas companies in tho State for tho fixing of a lower heating standard for
RteRdc n
a eutio
^ R a te I n c r e a s e . — In Fob. 1918 was auth. by the N. J. Bd. of P. U. Comm,
to put into immediate effect a 25-cent (monthly) 'sorvlce charge against
gas consumers. V. 106, p. 612. On Mar. 1 1918 tho Bd. of I . U . O a x a m .
auth. tho co., as a “war emergency moasuro, to add a surcharge of 7
cents for 1,000 cu. f . making the total rate 97 cents per 1,000 cu. f .
t,
t,
also to withdraw a l rates under 65 cents per 1,000 cu. f .
l
t
in
— Initial div.— 2 % — paid Dec. 31 1909. In 1910, 2!£%. In
1911 and 1912. 8%. In l9l3, 6%. In 1914. June, 4%: Doc., 4%.
Practically a l of stock i owned by tho Public Service Corp. and dividends
l
s
are no longer reported.
O P E R A T I O N S , &C.— Sold 13,610,865 M cu. f . of gas during 1917; on
t
Dec. 31 1917 had 3.089 milos of mains and 516.745 motors in service.
OFFICERS.— Same as for P u b l i c Service Electric Co. except that I . D.
I
Whitcomb i tho V.-P. and Gon. Mgr. V. 106, p. 506, 612, 1132.
s
Essex & Hudson das Company.
O R G A N I Z A T I O N . — Incorporated in Nov. 1898 in N e w Jersey and on
Dec. 1 1898 assumed tho lease of Newark Consol. Gas Co. to United Gas
Improvement Co. for 999 years from Dec. 1 1898. Essex & Hudson Gas
Co; was leased to Pub. Service Oorp. for 900 years from Juno 1 1903 and
lease assigned Oct. 1 1909 to Public Service Gas Co. Undor lease, dlv. rate
I now 8 % per annum. 3tock auth. and outstanding, $6,500,000. V. 67,
s
0, 1002, 1160.
_
„. 4
„
Newark Consolidated Qas Company.
O R G A N I Z A T I O N . — Incorporated Nov. 30 1898 In N e w Jersey, con
solidation of Newark Gas Co., Montclair Gas & Water Co., Summit Gas
Light Co.,People's Gas Co. of Irvington and Clinton Gas Co. Owns entire
capital stock of Orango Gas Light Co. and practically a l the stock of The
l
East Newark Gas Light Co. Leased a I s property to United Gas i m
ll t
provement Co. of Phlfa., Pa., for 999 years from Dec. 1 1898. and on same
date lease was assigned to Essex & Hudson.Gas Co. and by last-named
company to Public Service Gas Co. Oct. 1 1909. Lease provides for pay
ment of a l fixed chargos and dlvs. on stock commencing 14 % July 1 I960
l
and increasing (4 % yearly until 5 % was reached in 1910; sinco, 5 % per an.
STOCK A N D BONDS—
.
•
Stock $6 000 000 (S100)
__
________$6,000,000
See text’
Newnrir ConsGas cons "imtgo] 1898 5 g J-D
*6.000.000 Dec 1 1*48
$10.000,OOOg ($1,000) c*ntf\Int. at Fidelity Trust Co.. Newark, trustee.
Newark Oas IstM $4,000,009/ 1895
6 Q-J
3.999,700 April 1 1944
(S100. $500 Sc $ 1.000) _c*tftint, at Fidelity Trust Co., Newark.
fk m d s .— Of the $10,000,000 Newark Cons. Gas bonds.$4,000,000 are re
served to retiro underlying lions. J. William Clark, M. L. Ward and J.
O. H. Pitney are trustees for tho Newark Gas 1st 6s.
The East Newark Qas Light Co.
This company was leased to Public Sorvlce Corporation for 999 years from
Sept. 1 1909 for annual rental or 6 % on stock, and lease assigned Oct. 1 1909
Didns
iv e d.
Dte In ret. Ots d o Mtu
a . te s u tmi.n a rity
^ O ^ O A N I Z A ' H O n ! Incorporated in N o w Jersey. Stock $60,000 ($25);
—
a l out; no bonds. All of tho stock (except directors shares/ i owned by
l
s
Essox & Hudson Gas Co. and Newark Consolidated Gas Go. Operates
injllarrlson. Ivearnoy. Arlington. North Arlington and East Nowark.
Hudson County Gas Co.
This company was leased to Public Service Corporation for 900 yoars
from June 1 1903. Oct. 1 1909 leaso was assigned to Public Servlco Gas Co.
Under lease, dlv. rate i now 8 % per annum.
s
iaoo ana
O R G A N I Z A T I O N . — Incorporated In N e w Jersey in October 1899. and
I a consolidation of tho various gas plants in Jersey City and Hoboken.
s
STOCK A N D BONDS—
Stock $10,500,000 ($100)
-- -— -----510,500,000
-----
First mortgago S 10,500.000(.1899 5 g M - N 10,500,000 Nov 1 1949
gold... ........... ntf\N. J. Title Gu. Tr. Co..Jersoy City, trust.
P L A N T . — Controls a gas plants In Jersoy City, Hoboken and Bayonne.
ll
— V. 78. p. 770; V. 84. p. 1555.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S
c
O R G A N IZ A T IO N .— I n co m o ra te ?” lp d P 2^*900. Is leased to Public
Sorvlce Gas Co. for 999 years from July 1 1910 at rontal o f $2,000 por ann.
Dte In ret. Ots nin. Mtu
a . te s u tad g a rity
STOCK A N D BONDS—
fffpf «inn ooo
lili
_
____
_________ $100)000
First mortgage $100,000 ntf ( 1900
5 J-D
100 JX)0 Juno 1 1925
lint, at Equitable Tr. Co., N.Y.. trustee
Second mtge $100,000__ ntfj 1905
5 A-O
85,000 April 1 1925
(lnt. at Fidelity Trust Co., Newark, Trustee.
Morristown Oas Light Co.
O R G A N I Z A T I O N . — Incorporated In N o w Jersey on Fob. 19 1855.
Leased to Public Sorvlco Gas Co. for 999 yoars from July 1 191°• Rental
equal to 5 % por ann. on outstanding capital stock. Stock out., 9307,599
($100), a l ownod by Public Sorvlco Corporation, oxcept directors shares.
l
No bonds.
paterson & Passaic Oas & Electric Co.
This company was leased to Public Sorvlco Corporation for 909 years
from Juno 1 1903. Undor loaso, dlv. rate was gradually Increased and i
s
now 5 % per annum. In Oct. 1909 gas part of lease assigned to Public
Service Gas Co. and In July 1910 oloctrlc part or loase assignod to Public
Servlco Electric Co.
O R G A N I Z A T I O N . — Inc. Fob. 28 1899. Is a consolidation of the vari
ous gas and lighting properties of Paterson and Passaic.
Public Servlco Corporation owns $269,700 o f tho stock.
""STOCK A N D B O N D S —
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
W S 1 n W f5o.000. ii S gom i899 5 g M-S nanki Patersoili 0r1949
049:000 M c h T First
," f f
nrft f i - U J H T
U
^ Nat< *4 :
(5L°(
00).........
\ National Bank. N o w York.
E<S000 O ^ r ^ 1 1 l8t “ n^flP^iRerson^afe Dep
1
Sc
Trust Co°, trustee.192*
P Tl50 «J§htIn8 °° C°n9 m \f (Guaranty ■fnwMJo.,
M a V 1 1935
PW
C( o ” L ‘
0)
ght l8t “ nHll^erson Savings InstltutlomtrusZ.1 1922
— Of tho now $'5,000,000 mtge. of'1809. $951.0 0 0 is[reserved for
underlying lions. The bonds are not subject to call. Iho laterson Safe
Deposit Sc Trust Co. i trustee.
s
Somerset Union & Middlesex Lighting Co.
O R G A N I Z A T I O N . — Incorporated In N e w Jersey on Doc. 1 1903 in tho
Interest of Public Sorvlco Corporation, as1 a(Consolldat:onof Somerset Light-
Bns
od.
UI1 U OC. OU l J . ueuirai caw.
'U5
7 oo aAm tt« i
.
t VSorvlce Corn, owns $422,400 of the stock, 5573,182 Som. Un. & Mid. Ltg.
Co. bonds, $21,000 Somerset Ltg. Co. 1st 5s and $20,200 Cent. El. Co. 5a.
w LEASE,— Tho co. was leased to Pub. Sorv. Corp. for 900 years from
Doc. 31 1903 on tho following torms, viz.: All interest, expenses and
taxes to
iw Public ftorvice Corporation,and, as rental, a dividend
on the
1M%
71
3 M % : Doc. 1 1911 and thereafter, 4%. So much or lease as relates to
manufacture and distribution of gas has been assigned to Pub. Serv.Gas Co.;
remainder of lease applying to electric properties has been assigned to
Public Sorvlce Electric Co.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $1,050,000 ($100).... .....
J-D
$1,050,000
See text.
Somerset Un & Mid Lt Co M
1903
4 g J-D
1.974,372 Dec. 1 1943
$2.750,000($1.000)g-c*ntf\Int. at Fidelity Tr. Co., Newark, Trustee.
U n d e r ly in g b o n d s a s s u m e d —
„„
Plainfield Gas Sc Elec Lt goaf 1900
5 A-O
500,000 April 1 1940
mtgo $500,000_______ tf(Guaranty Trust Co., N e w York, Trustee.
Somerset Lighting Co first) 1899
5 F-A
150,000 Feb 1 1939
mortgago $150,000....tf(Fidelity Trust Co.. Newark, Trustee.___
Cent Elec consol mtgo $750,-1 1900
5 g J-J
700,000 July 1 1940
000 ($500 Sc $1,000) g.c*tf lint, at Fidelity Tr. Co., Newark, Trustee.
Edison Elec 1 1 of N B 1st) 1888
1
6 J-D
50.000 June 1 1918
mortgage $50,000____ntf IB. F. Howell and T. E. Townsend, trustees.
Bonds.— $1,128,372 of the 1903 bonds hare been Issued In exchange for
tho stocks of tho companies consolidated and $846,000 for extensions and
Improvements; $503 i reserved for Central Electric stock not yet acquired
s
(the company having previously obtained the remainder of the $ 75 0 ,0 0 0
total stock of that company), $775,000 to retire tho underlying bonds and
$125 for futuro additions and improvements. N o sinking fund, and bonds
cannot bo called. Of Central Electric Co. bonds, $50,000 i reserved to
s
retire a like amount of Edison Elec. Ilium. Co. bonds. Central Elec, bonds
are subject to call at 110 and lnt. V. 78. p. 107.
South Jersey Gas, Electric & Traction Co.
This company was leased to Public Service Corp. for 900 years from
June 1 1903 (at a graded rate of dividend, the maximum of 8% per annum
having been reached in the eighth year),and on Oct. 1 1909 so much of the
loaso as relates to the manufacture and distribution of gas was assigned to
the Public Service Gas Co. Its traction business i leased to the Public
s
Service Ity. Co. and i s electric business I leased to Public Service Electric
t
s
Co. Public Service Corp. owns $3,507,000 of South Jersey Gas. Electric
S Traction f r t mortgage 5s.
c
is
O R G A N I Z A T I O N . — Incorporated Aug. 31 1900 to bring under one con
trol tho gas, electric light and trolley Interests In Southern N e w Jersey.
Also owns the entire capital stock ($600,000) of the Camden Gloucester
Sc Woodbury Ry., which has been leased to Public Service Ry. Co.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $6,000,000 ($100).........
J-D
56,000.000
See text.
1st mtge $15,000,000 gold? 1903
5 g M-S
12,892,000 M c h 11953
($1,000) ..-...... c* n tf(Int.at Fidelity Tr.C o . Newark,N.J..Trust.
,
Trenton G & E l l s t M $2,000.-1 1899
5 g M-S
2,000,000 M c h 1 1949
000 gold ($1,000)......tf Ilnt. at Equitable Trust Co., N. Y.. Trustee.
Burlington Gas Lt Co 1st M j 1901
5 g M-N
100.000 M a y 1 1921
f
$100,000 .......... ntf (lnt. at Burl. City L. <cT. Co.. Burl., Trust.
B o n d s . — Of tho now $15,000,000 issue, $2,108,000 are reserved to retire
prior l
iens. N o sinking fund and bonds cannot be called.— V . 76. p. 332.
544, 866, 1144, 1250; V. 78, p. 1449; V. 86.p. 1530; V. 95, p. 1685; V. 105,
p. 1314.
N e w Brunswick Light, Heat & Power Co.
O R G A N I Z A T I O N . — Incorporated In N e w Jersey on Dec. 7 1899. Own*
a l the stock of Tho Gas Light Co. of N e w Brunswick, except directors
l
shares. Int. on bonds i paid by Public Service Gas Co. through loase of
s
The Gas Light Co. of N o w Brunswick. See latter company below.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $500,000 ($100)..........
J-J
5400,000
See
First mtgo $500,000 gold] 1899
4 g J-D 15
500,000 Doc 15 1939
($500 and $1,000)-— c*ntf\lnt. at Fidelity Trust Co.. Newark, trustee.
(a) The Oas Light Co. of the City of N e w Brunswick.
O R G A N I Z A T I O N . — Incorporated on Mar. 18 1851. Stock authorized
and outstanding, $400,000, a l owned by N e w Brunswick Lt., Ht. & Power
l
Co. oxcept directors' shares. Was leased to the Public Service Corp. for
900 years from Jan. 2 1905 (June 1 1906 lease assigned to South Jeraey
Gas, Elec. Sc Trac. Co.), rontal being payment of l t ’on bonds or N e w
n.
Brunswick Lt., lit. & Pow. Co. and dlvs. on stock of Gas Lt. Co. or City of
N e w Brunswick, as follows: 2 % in oach of the years 1905 and 1906. 2(4%
IS
In 1907 and 1908, 3 % in 1909 and 1910. 314% In 1911. 4 % in 1912, 1)-4%
rolled
In 1913 and 5 % in 1914 and thereafter. The company i now controlled
s
by Public Service Gas Co. hy reason of assignment of lease of gas properties
of South Jersey Gas, Electric Sc Traction Co.
Oas & Electric Co. of Bergen County.
LEASE.— Was leased to the Public Sorvlce Corp. for 999 years from
Jan. 1 1905. Dividends are 2 % for f r t two years. 2>4% for the next
is
year, 3 % for the next two years, 4% for the next four years and 5 % there
after. Oct. 1 1909 so much of lease as relate* to manufacture and dis
tribution of gas was made over to Public Service Cas Co. and in July 1910
lease of electric properties was assigned to Public Service Electric Co.
ORGANIZATION.'— Incorp. M a y 311899. Is a consolidation of several
small gas and electric-light companies. Public Service Corp. owns $955.
000 of general mortgage No. 2 bonds.
.......
nnn
In Mar. 1918 was auth. by tho N. J. P. U. Comm, to s l at 90 $700,000
el
5 % Gon. M. No. ? bonds (not inch in account reported outstanding).
STOCK A N D BONDS—
D a te .
In terest.
O u te ta n d in g .
M a tu r ity Stock $2,000,000 ($100)....- ------------ *2.000.000
See text.
Gen mtge No. 1 $5,000,000] 1904
5 g M-N
38,000 Nov 11954
gold ($1,000)........ tflEmiitable Trust Co.. N.Y., trustee.
Gon mtge No.2 $5.000.000tf) 1904 5 M - N
2,571.000 Nov 1 1954
(Fidelity Trust Co.. Newark, Trustee.
Consolidated mortgage $1,-1 1899
5 g J-D
1,443 ,000 June 1 1949
500,000 gold........ ntflFldelity Trust Co., Newark, trustee.
Englow G « E 1st mtgo-.ntf- 1899 5 J-J
23,000 Jan ]
Hack Gas Sc Eigen mtge.ntf- 1895 5 J-J
19,000 July 1 1 9 3 5
Hack G L 1st M ($1,000) entf 1894 5 J-J
24,000 July 11934
B o n d s . — Of the general mortgage for $5 ,
000,
000, $1,538,000 i reserved
s
to retire prior lions and $891,000 for additions and Improvements. The
gen. mort., of which the Equitable Trust Co. i trustee was superseded
s
by tho similar mtgo. of which Fidelity Tr. Co. i trustee. V. 106, p. 1130.
s
Shore Lighting Co.
O R G A N I Z A T I O N . — Incorporated March 21 1911 In N e w Jersey and I a
s
consolidation of Shore Eloc. Co., Sea Bright Elec. Lt. Co. and Citizens
Lt. Sc Fuel Co. of South Amboy. $104,900 or stock owned by P. S. Coip.
The oloctrlc properties have boon leased to Pub. Serv. Elec. Co. and the
gas properties to Pub. Sorv. Gas Co.; the leases are for 900 years from M.ay 1
1911 and provide for paymont of Interest on bonds and amount equivalent
to 5 % per annum on the authorized stock.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Flrat*mortgage $ *00 jloo gold] 1911
(
5'gA-o'"
?400’0°0 April 1 i951
,
($500)
- ______ tf(lnt. at Fidelity Tr. Co.. Newark. N. J.,trust.
B o n d s .— $341,500 bonds were Issued to take up $341,500 Shore Electric
Co. bonds and $58,500 to take up $46,800 Oit. Lt. Sc Fuel Co. bonds; are
guar., prln. Sc lnt., by Public Service Oorp.— V. 92, p. 1640.
Princeton Light. Heat & Power Co.
In 19 10 Public Servlco Corp. acquired control. V. 91, p. 399. Public
Service Corp. owns $115,850 stock.
O R G A N I Z A T I O N . — Incorporated In N e w Jersey on July 31 1905 as a
consolidation or Princeton Eloc. Light Works, Princeton Gas Light Co. and
Hopewell Elec. Lt.. Heat Sc Pow. Co. Electric properties have been leased
to Pub. Sorv. Eloc. Co. and gas properties to Pub. Sorv. Gas Co., the leases
being for 900 years from M a y 1 1911, and providing for payment of interest
on bonds ana amount equivalent to 2 % per ann. on outstanding stock .
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
l^C
refmtgo°$25^(Vg"oTd's'f] 1909
8 * F-A"
'
’ 178'.500 Feb'Yi93§
($100. $1,000 or frac)-c*tf(lnt. at Equitable Trust Co.. N. Y., trustee.
B o n d s .— Bonds are guar., p. & i , by Pub. Serv. Corp. Red. on any
.
lnt. day at 105 and int. S in k in g f u n d 4 % of gross earnings of company be
gan in 1910.— V. 91, p. 399.
_____
P U B L I C S E R V I C E R A I L W A Y CO.— (.See m a p o n p a g e s 80 *nd 81.)
Controlled by Public Service Corporation through ownership of a l but
l
26 sharos of stock. N o lease.
72
ELECTRIC RAILWAYS
..ORGANIZATION'.— Organized Aug. 30 1907 as a consolidation of the
North Jersey Street Ry. Co., Jersey City Hoboken & Paterson St. Uy. Co
and United St. Ry. Co. of Central Jersoy. V. 85. p. 406. For basis of ex
change or stocks of theso companies for stock of now company,see this Sec
tion for Sept. 1915. North Jersey St. Ry. In Jan. 1898 absorbed the Newark
& So. Orange. The Jersey City IJobok. & Paterson was a consolidation In
Nov. 1899 of the following: Jersey City Hoboken & Rutherford Eioc. Ry.
Pa>*sades RR. Co., Paterson Central Elec. Ry. Co., Paterson Horse
RR. Co., Paterson Passaic & Rutherford Elec. Ry. Co., Saddle River Trac.
?<>•! White Lino Trac. Co., formerly the N o w Jorsey Elec. Ry. Co. In
1901 I absorbed Paterson Ry. Co. and North Hudson Co. Ry. Co.
t
United Street_ y . C o . of Central Jersey was a consolidation in July 1907of
R
Elizabeth Plainfield & Central Jersey Ry. Co. (which was chartered In 1900
w8 R .c P n£.°delation of Plainfield St. Ry. Co. and other companies) and Eliza
bethn & Raritan River Street Ry. Co. (which was a consolidation on April 30
1904 of Middlesex & Somerset Traction Co. and East Jersey Street Ry. Co.
which latter company had previously absorbed Raritan Traction Co.
Perth Amb o y RR. Co. and East Jersey Traction Co.)
N eic a r k
T e r m in a l.— On
Doc. 28 1915 stockholders ratified the
merger (approved by the Board of P.U.Comm.) of the Public Service Ry.
and the Public Service Newark Terminal Ry. undor the name of tho former
through an exchange of stock, share for share, effective Jan. 1916. Tho
Terminal R y .Co. was incorporated In April 1913 to construct an office and
terminal building and approaches in the heart of the business section of
Newark. (For description of property see V. 100, p. 2011.) Tho entire
property Is leased for 50 years from date of occupancy to the Public Service
Ry. Co. (with which the co. was subsequently merged). Public Service Gas
Co. and Public Service Elec. Co. for a rental not le s than a sum sufficient
s
to pay the taxes, water rates, maintenance and interest and sinking fund
requirements on the 1st M . bonds. The terminal was opened for street
railway operation on April 30 1916: offices occupied in July 1916. Plans
ror combining tho company’ terminal f c l t e with those of tho Hudson &
s
aiiis
Manhattan RR. are undor consideration. See V. 101, p. 765.
In addition to above,Public Service Ry.leases Consolidated Traction Co.,
South Orange & Maplewood Traction Co., Borgen Turnpike Co., Orange Sc
Passaic Valley Ry. Co., Camden & Suburban Ry. Co., Camden Gloucester
& Woodbury Ry. Co., N e w Jorsey & Hudson River Ry. Sc Ferry Co. and
Riverside Traction Co., which companies see below. Also owns a l stoWi
l
of People s Elevating Co.
Completed In 1912 a terminal station at Sip Ave., Jersey City, connoct
lng with tho Penn. RR. station and also with the tunnel station there.
A terminal station at Hoboken connecting with, the D. L. Sc W. R R
station and also with tuunels terminating there was completed in M a y 19 16
S a le o f B erg en T u r n p ik e .— S e e Bergen Turnpike Co. below.
L i c e n s e F e e I n v a lid . — Tho Supreme Court of N e w Jorsey Oct. 21 1911 sot
lnvaIId
ordinance of the City of Paterson lmnosing a license foe
of $25 for every trolley car operated within the citv limits. A similar ordi
nance was passed by the Hoboken City Service Comm, on Aug. 4 1915.
but tho company has obtained a writ of certiorari and the Supreme Court
will review the ordinance.
T r a n s fe r D e c i s i o n . — On Juno 21 1912 Court of Errors and Appeals af
firmed the decision of Supreme Court on Dec. 26 1911, which sustained the
order of tho Public Utility Comm, requiring the company to continue tho
Issue of transfers to a l Intersecting lines in Newark, but did not grant trans
l
fers on a transfer.
Fares.— -On Mar. 5 1918 applied to tho N. J. P. U. Comm, for auth.
to increase fares from 5 to 7 cents and to charge 2 cents additional for
transfers issued on cash fares, and 1 cent for each transfor issued on a trans
fer. V. 106. P. 1037, 1345, 1462.
P o r t N e w a r k E x t e n s io n . — As a result of a compromise with tho Emergency
rleot Corp., construction of the Port Newark trolley extension from H a m
burg Place, Newark, to tho shipyards of tho Submarine Boat Corp. was
commenced on Apr. 12 1918. Fares on this extension aro to be 5 cents,
i being considered a separato zone, making a 10-cent faro from tho contre
t
of Newark. V. 106, p. 1689.
In Dec. 19 17 tho N. J. P. U. Com m . auth. the co. to issue SI 250,000
stock at par, proceeds to be used for developments,&c. (notincl in amount
reported outstanding).
W a g e I n c r e a s e . — V. 105 p. 1310.
BONDS—
D a te .
R a te .
O u ts ta n d in g .
M a tu r ity
Stock$50,000,000 ($100).............. .... a$18 ,
750,000 .......
P ’SrI S ^ r
. ^
j5.Term- -lstMf 1915
Uy'
5 g J-D
5.000,000 Juno 1 1955
$5,000,000g($l,000)--c*tf!lnt.at Fidelity Trust Co..Newark, Trustee
Car trust certs Ser “Ii’ --- tf/1910
(
5 J-J
113,000
See text
_
. .
_ „
lint, at Fidelity Tr Co., Phila., Pa., trustoo.
Oar trust certfs Ser‘C ”.„tff 1912
,
5 M-S
225,000
See text
„
. .
„ iPenn. Co. for Ins. on L. & G. A.. Trustee.
Oar trust certificates, Ser D.( 1917
5 M-N
836,000
See text
D , ..
.
lint, at Philadelphia Trust Co., Phila.,trustee
Real estate mortgages______ ___
_____f
__
278,435
a Inch $18,400 reserved to retire outstanding stock of consolidatedcos".*"
B o n d s .— The P. S. Newark Term. Ry. bonds are unconditionally guar, as to
prin., int. and sinking fund by endorsement, jointly and severally, by the
Public Service Ry. Co. and Public Service Corp. of N e w Jersey. S in k in g
f u n d of 330,000 annually beginning April 15 1920. Red. as a whole on or
after Juno 1 1920 at 105 and int. on six weeks' notice ;also callable for skg
rund on June1 each year, beginning in 1920. at 10244 (V. 100. p. 2011).
Car Trust Certificates — Series “B ” certificates mature $22,000 on each
Jan. 1 and $23,000 on July 1 Series “C ” certificates mature $25,000
.
every' March 1 and Sept. 1 Series “D" certificates aro secured on 150
.
cars and mature $44,000 s.-a. M a y 31 and Nov. 30.
S E C U R I T I E S O F N O R T H J E R S E Y S T R E E T RY.
.
.
_ __
_
D a te .
I n te r e s t.
O u ts ta n d in g .
M a t u r it y .
F1^* “ Ortga? 0 315.000.000 1898 ,4 g M - N $15,000,000 M a y 1 1948
gold ($1,000 each)-----tfjBankors Trust Co., N e w York, Trustee.
„
(Interest at Fidelity Tr. Co., Newark. N. J
.
Of the 1st mtge. bonds, $7,230,000 aro owned by Public Service Corp.
SECU R I T I E S O F J E R S E Y C I T Y H O B O K E N & P A T E R S O N ST. RY.
t _ r-,,.
„ , ,
„ „
, D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Jer City Hoboken & Pater-( 1899
4 g M - N $14,061,000 Nov 1 1949
SSn
/£‘t5C«*£old *20.-] Interest at N e w Jersoy Title Guarantee &
}
000,000 ($1,000)--- c*ntf ( Trust Co., Jorsey City, Trustoo.
B o n d s o f C o n stitu e n t C o s . —
North Hudson County Ry) 1888
5 J-J
2.998.000 July 1 1928
consol
lst) mortgage] Int. at First Nat. Bank, Hoboken. E. A.
$3,000,000 ------- c*ntf ( Stevens and S. B. Dod, trustees.
o"
',
mtgef 1894
5 M-N
1,2 )1,000 M a y 1 1924
W *1’
"92,000 ($1,000)----tflint, at Fidelity Trust Co., Newark, Trustee
Weehawken Extension Mort-j 1895
5 F-A
100,000 Fob 1 1945
gage $100,000 .......ntflFidelity Trust Co.. NoVark, Trustee
Pateraon Ry Con M(nowlst)f 1891
6 g J-D
1,250,000 June 1 1931
K $1,250,000 ($1,000) ctfIColumbia Trust Co.. N. Y., Trustee.
Pa*ffs°n Ky 2nd gen mortl 1894
5 A-O
300,000 Oct 1 1944
/.S?A000;r2< ™„vany M m e 1Fidelity Tr. Co., Newark, N. J., Trustee.
. ?
($500 and $1,000)___ entf/
d• O. H. Sc P. f r t 4s are reserved for prior lions
,
is
orthe J. O. H . & P. bonds outstanding, $1,498,000 are owned by Pub. Serv.
Corp. The 2nd ,s of the North Hudson County Ry. expired M a y 1 1904
5
but were extended until M a y 1 1924. See V. 78, p. 1392. These bonds
are redeomablo at 110 and int. on any int. date. V. 78. p. 1392. Seo also
I',9V P-, 1564. 1899. The Weehawken Extension mtge. bonds were due
Feb. y 9 1 5 but were extended for 30 years. V. 100. p.399. The Patorsou
R y -2d
£!■ 6 % bonds f l due Oct. 1 1914 but were extended for 30 years
el
a‘ 5%. V. 98. p. 1993; V. 99. p. 1053. Red. April 1 1931 and on the f r t
is
pay of any succeeding Oct. or April by Public Serv. Ry. Co. In manner
drovided In mortgage.
S E C U R I T I E S O F U N I T E D ST. RY. CO. O F C E N T R A L J E R S E Y
B o n d s o f C o n stitu e n t C o s .—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
Eliz Plain Sc Cent Jer mtgef 1900
5 g J-D
$2,400,000 Doc 1 195n
$2,500,000(81 .OOOlg.c*ntfjInterest at Fidelity Trust C o ^ Newark
N o s f Sc cannot be caiiodl Trusteo.
Plainfield Street Ry f r t mtgf 1892
is
5 J-J
100.000 July 1 1922
($1,000) Call in 1904-C*ntf) Int. at Fidelity Trust Co., Newark. Trustoo.
Elizabeth & Raritan Riv St ( 1904
5 g M-N
1.500.000 M a y 1 1954
Ry gen M $3,500,000---tf IFidelity Trust Co., Nowark, Trustee.
Brunswick Trac M g ($1,000) ( 1896
5 g J-J
500,000 July 1 1926
Cannot bo called---c*ntf 1 Fidelity Trust Co.. Newark. Trustee.
Middlesex Sc Somerset Trac g 1900
5 g J-J
1,000,000 Jan 11950
M $ 1,500,000($ 1 ,000) c*ntf Int. at Fidelity Trust Co., Newark, Trustoe.
East Jersey 1st mtge $500, 1904
5 g M-N
500.000 M a y 1 1941
000 gold guar p & f _____tf Perth Amb o y Tr. Co.. Perth Amhoy, Trust.
[Vol. 106.
. J & nds- of the total ,ssue of E,,z-Plain. Sc Cent. Jer. Ry. Co. bonds dated
—
1900, $100,000 i held to provide for like amount of Plainfield Street Ry. Co.
s
bonds. See V. 71, p. 1310. Of Eliz. Sc Raritan River Street Ry. Co.
gen. mtge. of 1904, $2,000,000 are reserved to retire prior liens. Pub. Serv.
Corp. owns $154,000 Eliz. PI. Sc Cent. Jers. 5s and $274,000 Eliz. & Rar.
River St. Ry. bonds.
D iv i d e n d s . First div.— 2-3%— paid Dec. 31 '08: in ’
—
09, Dec., 2%: In ’
10
2%; in ’
ll, Dec.. 144%; in ’
12, Dec., 144%: in ’
13, Dec., 144%: in it
,
Dec., 1 H % . Practically entire stock owned by Public Service Corporation
and dividends no longer reported.
R O A D , &c.— Owns (including Public Service Railroad) 535.250 miles
f r t main track, 297.612 miles 2d main track and turnouts and 58.372 miles
is
of connections, loops, yard track, &c. Total, 891.234 miles of track.
602 open and 1,793 closed cars.
Passengers carried in 1917, 476,974,983, of which 361,187,782 were
revenue and 115,787,201 transfers and passes. In 1916, 451,698,012, of
which 342,205,993 wererovenuo and 109,492,019 transfers and passes.
OFFICERS.— Same as for Public Servico Elec. Co., except that R. E
Danforth i the V.-P. and Gen. Mgr.— V. 105, p. 1310: V. 106, p. 87.
s
( ) Consolidated Traction Company.
1
Incorporated Mar. 15 1893. On June 1 1898 leased to North Jersey
Street Ry. for 999 years, and lease has now passed to Public Sorv. Ry. Co.
V .66, p. 1141. Validity of lease was affirmod in Feb. 1902 (V. 74. u. 380)
and again in Feb. 1903. V. 76, p. 382.
Dividends under lease are now 4 % per annum.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock a l paid in ($100).........
l
J-J 15
$15,000,000
See text.
Underlying bonds— see below.___
________ 7,308,000
FI(„„nl r f a ? 8°Id $15,000.-/ 1893
?t 0 t J , 0
5 g J-D
15,000.000 June-V 1933
000 ($1,000)--------- tfllnterest at Bankers Tr. Co., N. Y., Trustoe.
The gold bonds of 1893 are secured not only by mortgage, but also by
deposit of $1,000,000 stock of J. O. & Bergen RR.. $161,625 stock of
Newark Plank Road Co., $6,000,000 stock Newark Passenger Ry. and $99.
100 stock of Jersey City Harrison S Kearney Ry. Co.
t
R O A D . — Operates about 190 miles of track. Including tho N. J. Traction
Co., Newark Passenger Ry., J. C. Sc Bergen RR., Passaic Sc Newark Elec.
Trac. Co., J. C. Har. & K. RIt. and Nowark Plank Road, a l of whose
l
stocks are owned.
Stock, debts and mileage of tho leased and controlled lines:
„
.
_
,
M ile s .
S to ck .
F u n d e d d e b t.
N o w Jorsey Traction C o _____________Nono
$500,000
Newark Passenger R y ..............83
6,000,000
$6,000,000
Rapid Transit Streot R y ............ 12
504,000
500,000
Jersoy City & Bergen R R ........... 4144
1.000,000
258.000
Jersey City Harrison & Kearney R y ___ 10
*100,000
Nowark Plank Road________________ 4 4-5
162,000
Passaic Sc Newark Electric Traction____1044
1,000,000
550666
40,000 sharos
__
Port Richmond Sc Bergen Point Ferry..__
* On this $18,000 has been paid in.
(a) Jersey City & Bergen Railroad.
R O A D . — Owns from Jersey City to Bergen Point, &c., total track, 4144
miles. Controlled by Consolidated Traction Co., a l tho stock being de
l
posited as part security for the Traction Co. 1st mortgage.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock........ .......... .............. $1,000,000 f.-p.......
First mortgage $1,000,000/ 1873
444 J-J
258,000 Jan 1 1923
(51,000)--------- c*ntf|Int.atBkrs.Tr.Co.,N.Y.,or IstNat.Bk., J.O,
B o n d s . The bonds (originally 7s) matured Jan. 1 1903, but were ex
—
tended as 444s for 20 years from that date.
(b) Newark Passenger Railway.— Electric.
O R G A N I Z A T I O N . — Incorporated June 16 1890. On July 29 1893
leased to N e w Jersey Traction for 999 years, and so controlled by tno Con
solidated Traction Co. of New Jersey,N. J. Traction Co. having boon loasod
to Cons. Trac. Co. Jan. 2 1894 for 999 years. Charter said to bo perpetual.
L E A S E A N D R E N T A L . — Rental undor tho lease, $105,000 yearly.
STOCK A N D BONDS—
P a r. In terest.
O u ts ta n d in g .
M a tu r ity .
Stock..............
$100 Text $6,000,000 Own.byO.Tr
Newark Pass Ry 1st cons M f 1,000 5 g J-J
6.000,000 July 1 1930
1890 $6,000,000 gold.c*tf\N. J. Title Guar. Sc Trust Co., Trusteo.
The $6,000,000 stock i a l deposited as security for the Consolidated
s l
Traction Co. f r t mortgage.
is
I n te re s t on consol. 5s i payable at First National Bank, Jersey City.
s
Tho consols aro guar. p. Sc i by Consol. Trac. Co. and in Fob. 1895 the
.
guaranty was stamped on bonds. V. 59, p. 989: V. 81, p. 900.
R O A D . — Embraces about 83 miles of track.— V. 81, p. 966.
( Rapid Transit Street Railway Co. of the City of Newark.
c)
O R G A N I Z A T I O N . — Juno 1 1898 loasod to Nowark Passonger Ry. for
999 yoars, and included with i in lease to N o w Jersey Traction, and so
t
forms part of Consolidated Traction system.
ST O C K , B O N D S . ETC.— Par.
I n te r e s t. O u ts ta n d in g . L a st d iv . e c
,t
Stock
....... ... 1144 J-D30 $504,000
Seo text
First mtge $500,000 g..c*ntf/$l,000
5 g A-O
500,000 April 1 1921
Subj. to call at 110 Sc int.(Int. at Fidelity Trust Co., Nowark, Trustoe.
D iv id e n d s of 1144% yearly aro guaranteed by the Newark Passonger and
New Jersey Traction companies upon the stock.
(d) Passaic & Newark Electric Traction Co.
O R G A N I Z A T I O N . — Incorporated April 30 1895 and acquired a l the
i
$1,000,000 stock of Passaic Sc Newark Electric Ry. Consolidated Trac
tion Co. owns a l the stock and guarantees the bonds.
l
S T O C K A N D BONDS.—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Stock $1,000,000 ($100)........ .
....... $1,000,000
-.
1st M $1,000,000 guar p Sc 1 1897
/
5 g J-D
550,000 Juno 1 1937
by Consol Trac of N J-.-tfllnt. at N. J. Titlo Gu.&Tr.,Jorsey Oity.Trua.
( ) South Orange & Maplewood Traction Co.
2
This company was leased on Oct. 1 1903 to North Jersoy St. Ry. Co. (now
men
"ged in Public Service Ry. Co.) in perpotuity, tho rental being $2,000
on t preferred stock for f r t year and increasing $500 yearly until ninth
:
;ho
is
year, when $6,000 i paid, which amount i to be paid thoroaftor. Rental i
s
s
s
guaranteed by Public Service Corporation of N ew Jersoy. V. 77, p. 824.
O R G A N I Z A T I O N . — Consolidation in July 1901 of South Orango Sc
Maplewood Tr. Co. and South Orange Sc Maplowood St. Ry. Co. Stock
auth. and out., common, $75,000: preferred, $150,000. N o bonds.
( ) Bergen Turnpike Co.
3
Leased to Public Service Ry. Co. Jan. 1 1908.
O R G A N I Z A T I O N . — Originally chartered on Oct. 27 1802 with $51,990
(*10 shares). Jersey City Hobokon Sc Paterson (now morged in the
Public Service Ry. Co.) owned a majority of tho stock and guaranteed I s
t
$1,000,000 5 % bonds, dated 1901. duo July 1 1951; interest J-J ( f : prin.
t)
and Int. payable N e w Jersey Title Guar. & Trust Co., Jorsoy City, trustoo.
In Dec. 1915 the turnpike between Hackensack and tho Hudson County
l ne, south of Fairviow, over which an electric road was constructed In 1902
i
was turned over to the Bergen County Board of Freeholders for tho sum of
fl. £“° ,’V ’ c,
orP- giving a bond assuring tho paymont of tho $1,000,000
5 % bonds due 1951. V. 101. p. 1974.
( ) Orange & Passaic Valley Ry. Co.
4
Leased for 900 years from Nov. 1 1903 to Public Service Corporation for
Interest on tho trust certificates issued in oxchange for stock. Lease was
assigned to North Jersey Streot Ry. Co. July 23 1907 and now hold by
Public Service Ry. Co. $923,500 of the stock owned by Pub. Sorv. Corp
O R G A N I Z A T I O N . — Incorporated in 1898 as succassor of Suburban
Traction Co., sold in foreclosure July 6 1898.
BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock___________________
000 000
1st mtge $1.000,000.....tf/ 1898
5 J-D '
’
833.000 Dec"i'1938
•art nnn e
,
, , 1N. J. Tit. Gu. Sc Tr. Co. of Jorsoy City,Trus.
$83,000 of outstanding bonds aro owned by Public Service Corporation.
(6) Ca m d e n & Suburban Railway Co.
Was leased on M a y 1 1904 to Public Service Corporation for 999 yoars
jontal being (in addition to fixed charges) 530.000 for f r t year (1905).
is
s
. _
-----P. 2383. Lease was asslgnod to Public
Service Railway Co. Sept. 24 1907.
9,RJ?A^IZAi r o N - Formed in 1896. Controls Camden Horse RR.
T
—
(which i leased) and West Jersey Traction Co. (stock $60,000).
s
m at ,
1918.]
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a t u r it y .
□
#q nnn non /VOKl
O-F
See text.
See text
f*?'mortonm*SoO.OOOToidj 1896
5 J-J
*1.940.000 July 1 1946
(*l (w8) --- ------- ---ctf\Int.at N.J.Tr.&SafeDep.Co..Camden.Trus.
S to c k . — T he stock I a l outstanding; 20% paid i .
s l
n
B o n d s .— O f the 1st mtge. bonds. SI ,000.000 are reserved to ret re stock of
Camden Horse l
ilt, and *60,000 aro for extensions. V .94, p. 1186.
R O A D . — Operates 91.3 miles of track. Connection through ^ Trenton
I made over Riverside Traction (now leased by P. 8. By.). V. 78, p. 1781.
s
2383; V. 88, p. 1126; V. 89, p. 164; V .94, p. 1117. 1185.
(а) Cam d e n Horse Railroad Co.
O R G A N I Z A T I O N . — Incorp. March 23 1866. Stock, *250,000 ($25).
Leased to Camden & Suburban Ry. from Apr. 1 }896 for 999 yrara. Benta
i
ke., received, *60,000 por annum, from which l paid 24% on stock. All
a
bonds have been canceled. .
B O A D . — Has 30.11 miles of track.
(б) Camd e n Gloucester & Woodbury Railway Co.
Leased to Public Service Ry. Co.
O R G A N I Z A T I O N . — Entire *600,000 stock I owned by South Jersey
s
Gas. Electric & Traction Co. All bonds have been canceled.
R O A D . — Comprises 25 miles of road.
(7) People’ Elevating Co.
s
......
O R G A N I Z A T I O N . — Incorporated In N e w Jersey M a y 31 1899. Stock
I al owned by Public Service Ity. Co.
s l
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Ilref’ mortgage^1$250~.00&"f 1899
5gA-o"
S175.’
000 OcVl'l939
gold “ * 1“ oO).------ -c*tf(Int. at N.J.TltleGuar.&Tr.Co..J.C.. Truste.
or
»2,»0.000
S r ^ ’g ^ S S ^ f t o W ^ i ^ M S a 'M i i 'oViStli. on
and 6 % on both common and pref. stocks.
O R G A N I Z A T I O N . — Incorporated at Trenton, N. J.. on Feb. 25 1910
as a consolidation of N o w Jersoy & Hudson River ity. & Ferry Co. and
Hudson River Traction Co. This company owns the entire capital stock
and bonds of The Riverside & Fort Lee terry Co., owner of the West 130th
8t Ferry! These securitlos are a l deposited under the *5,000.000 mort
l
gage. Franchises perpetual except ono for 60 years and one for 99 years.
F a r e s .— For^uit Ibrought^ U. S. Dlst. Court asking that a resolution
passed by the Board of Chosen Freeholders of Bergen County. N. J.. re
ducing the fares of this co. be declared I l
l egal and void, see V. 99, p. 407
HTOfiK a n d B O N D S —
D a te .
In terest.
O u ts ta n d in g . D iv id e n d s .
Stock, com, *57250J)00 ($100)--------*2.500.000 See text
Stork nref S750 000 6 % c u m ___
6 I -A
1
750,000 See text
N J & H R B Y & F O o l s t M . l 1900 4 g M-S
4.011,000 Mar. 1 1950
*5 000 000 g ($1,000)-C*tf(Int. at U. S. Mtge.&Tr.Co., N.Y.. Trustee.
Hiid R1v Trac lst M S1.000.- 1902 6 g M-S
631.000 Mar. 1 1950
000 g (S1 .
000L -T:.- tf}Int.at U. S. Mtge. & Tr. Co.. N.Y.. Trustee
s
S to c k . _Pref. stock I redeemable at 115 and accru0d dividends. $1*500
N? J ? * ' S . River Ry. & Ferry Co. bonds can be called on any
Int dav at 105 and int. upon six weeks notice. V. 80. p. 998. Hudson
River Traction bonds are subject to call on any Int. date at 110. *67,000
are owned by N. J. & H. B. Ry. & Ferry Co.
R E P O R T . — Included in Public Service Ry.
R O A D . — Owns and operates 31.33 miles of track from Edgowater, N. J.
(terminal of W. 130th St. ferry, N. Y. City), to Englewood. Hackensack
and Paterson; also 17.11 miles of track from Hackensack to Ilasbrouck
Heights. Woodridge, Rutherford to Arlington and a branch line from Hasbrouck Heights to Lodi. The cars °f this company operate to the business
centres of Newark, Passaic and Paterson. V. 92, p. 462, V. 99, p. 407.
VTB i n d s C
—
7:i
ELECTRIC RAILWAYS
& Buzzard’ Bay St. Ry.. which was a reorganization of the Mlddleboro
s
Wareham & Buzzard's Bay St. Ry. V. 82. p. 1438.
.
F a re I n c r e a s e . — The Mass. P. 9. Comm, in Oct. 1917 authorized the dis
continuance of the sale of 20 tickets for SI and the adoption of a straight
6-cent fare. V. 105, p. 1420. Compare V. 101, p. 923.
STOCK A N D BONDS—
D a te .
In terest
O u ts ta n d in g .
M a t u r it y
______
*550,000 Doc. 13,3%
Stock *550,000 (*100)__________
FIrat mortgage, *500,000,f 1902
5 g J-J
280.000 Jan. 1 1922
gold (S1.000)______c*ntf(Int. at International Tr. Co.. Boston, Trus.
I N o sinking fund and not subject to c l .
al
M W & B B 1st mortgage,( 1901
4 g A-O
150.000 Oct. 1 1921
*150,000 ($1,000) g-.cntf (Int. at Federal Trust Co., Boston, Trustee.
B o n d s . — The Mlddleboro Wareham & Buzzard’ Bay bonds have no
s
sinking fund, but are subject to call before Oct. 1 1921 at 105 and Int.
See V. 73, p. 1313. Int. was formerly 5%, but on consolidation with N e w
Bedford & Onset was reduced to 4%.
R O A D . — Owns 44.05 miles of track between Fairhaven and Onset and
In Mlddleboro and to Buzzard's Bay and to Monument Beach. 27 passen
ger cars, 4 snow plows, 4 miscellaneous and 96 electric motors.
E A R N I N G S . — For years ending Dec. 31:
S u r p lu s .
C a l. Y e a r —
Gross.
N et.
I n t. & T a xes.
*8,612
1917________ ____ ..$190,604
$37,961
*29,349
def.376
1916....... ....... 176,498
29,333
29,709
OFFICERS.— Pres., H. H. Crapo; V.-P.. E. 8. Wilde; Sec., Clarence
A Cook; Treas., E; F. Nicholson, Supt.. Geo. P. Dole.— V. 106, p. 112/.
U N I O N 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 . — Incorporated In Massachusetts on March 18 1887
as a consolidation of Acushnet St. Ry. and N e w Bedford & Fairhaven St.
Ry. On Nov. 1 1910 consolidated with Dartmouth & Westport St. Ry.
V. 91. p. 465. 619. 718. 1096.
„ ^
. .
CQ1„ ,nA
In Apr. 1918 applied to tho Mass. P. S. Comm, for auth. to issue $812,500
capital stock, tho proceeds, i i reported, to be used to pay outstanding
t s
debt and for improvements, &c. (construction of a new power house has
been contemplated for some time). V. 106, p. 1797.
STOCK A N D BONDS—
D a te .
I n t e r e s t . O u ts ta n d in g . L a s t d i v . A c
Stock, *1,625,000 (par *100)......
Q-F t , *1'626,000 M a y 18.2%
First M *2,000.000 ($1,000) . 1914 4 H g J-J
7
250,000 Jan. 11934
gold, no sinking fund-.ntf lint, at Old Colony Trust Co., Boston, Trust.
Notes payable Dec 31 1917.................
250.000 -.......
B o n d s . — Redeemable after Jan. 1 1919 at 110. Issued to retire consol,
mtge. of 1894, due Jan. 1 1914. V. 97. p. 1584, 1664.
D iv i d e n d s .— In 1896-97. 10%; in 1897-98, 6%; 1899 and since, 8%.
R O A D . &c.— Operates 63.69 miles (of which 55.53 miles are owned) in
N e w Bedford and adjacent towns, and connects N e w Bedford and Fall
River. 220 passenger cars; 14 freight and service cars and 14 snow P lo w s .
A now power houso at N o w Bedford, Mass., costing about $650,000, i
s
under construction.
E A R N I N G S . — For years ending Dec. 31:
C a l. Y e a r — G r o s s .
N et.
I n t . A T a x e s . D m . ( 8%).
S u r p lu s .
1917
$1 155 864
$378,981
$209,676
$130,000
$39,304
1916 :::::: i:084.256
334:637
96:887
130,000
107,750
OFFICERS.— Pres.. H. H. Crapo; V.-P., E. S. Wilde; Sec. O . A .
Cook; Treas., E. F. Nicholson; Supt.. E. S. Wilde, a l of N e w Bedford.—
l
V. 98, p. 525; V. 105. p. 1803; V. 106, p. 1127, 1797.
NEW HAVEN, CONN.
N E W Y O R K N E W H A V E N & H A R T F O R D RY. (Trolley lines.)
Tho N e w York N e w Haven & Hartford’ Interests In trolley lines have
s
been very extensive, but under an agreement reached with the ( . S. Govt,
J
in 1914 tho company has pledged i s l to dispose of the same
tef
Tho trolley companies owned by the N . Y . N . I I . &I I . , which aro now to
bo disposed of under tho decree of the Federal Court, are as follows:
Berkshire Street Ry.
The Hoosick Falls RR. Co.
Connecticut Co.
TheVermontCo.
i!eoie! Com®miy**ls *
—
fe'ased f r '
o * 999°years from Apr 1 1 1912 to Public N ew York & Stamford Ry.
1
Westchester Street RR.
Service Ry. The lease provides for int. on bonds 5 % dlvs. on outstanding Rhode Island Co.
Shore Line Electric RR. »f N . Y.
nrpf stock and a div. on com. amounting to $14,19o tne f r t year, in
is
The N Y. N. H. & H. also owns *4,984.938 of the *5,005.250 stock of the
creasing annually until seventh year, when the maximum of *20,169 will N. Y. Westchester & Boston Ry., an electric road, which i i under no obli
t s
have been reached. V. 94, p. 699.
gation to dispose of and which will be developed as part of tho N o w Haven
O R G A N I Z A T I O N . — Incorp. In N e w Jersey Juno 20 1910 as successor to system.— V. 99, p. 270. 604, 1125, 1210; V. 100, p. 642; V. 104, p. 2010.
Camden & Trenton Ry., sold at foreclosure. See plan, V. 88, p. 1126.
Owns 395 out of 400 shares (par *50) of the capital
CONNECTICUT COMPANY.
mlnson Elec. Lt., Pow. St Htg. Co. of Riverton, N. Jy which supplies Hie
a s s e to T r
e e s .— On Oct. 27 1914 the *40,000,000 capital stock
towns of Beverly. Delanco, Riverside, Riverton and Palmyra, with light. ofC o n tr o l Pholdsby N ou s t England Navigation Co. was transferredl to the five
this co.
w
Also owns entire capital stock ($50,000) of the Bordentown Elec. Co., which trustees, pursuant to the requirements of the U. S. Dept, of Justice. V. 99,
supplies light to Bordentown and vicinity.
p 1451
The N e w Haven Co. has bound i s l to s l the stock, and the
tef
el
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
trustees are to use their best endeavor to complete the sale before July 1
1919. Tho trustees are: Judge Walter C. Noyes of N e w London, Leonard
Common. *1.100.000 (*50).......
.......
M Daggett of N o w Haven, Charles Cheney of South Manchester, Morgan
Preferred. *400,000 (*50)-~- ---5%
Jb6.500
B. BraFnard of Hartford and Chas. G. Sanford of Bridgeport. See remarks
under N. Y. N. H. & H. RR. Co. above and V. 98. p. 1000, 1245.
B o n d s . — Subject to call, a l or any, on any Interest day at 110 and Int
l
This i the company which operates the trolley lines In Connecticut
s
Interest I guaranteed by Public Service Ry. V. J4, p. 280, 352.
s
controlled by the N . Y. N. H. & H. and which formerly were comprised in
R O A D . — Comprises 32.96 miles of track betweenTrenton^dBiverton tho Consolidated Railway Co.
O R G A N I Z A T I O N . — Incorp. in Connecticut. Entire $40,000,000 stock
(where connection I made with Camden &
s
„ r?h«Aiv
contract between this company and the Camdon & Suburban,Hie Riverside and $1,000,000 debentures owned by N e w Haven Co. June 1 1907
Traction cars run direct to Philadelphia Ferry at Market and I edoral streets, began operating tho lines comprising the Consolidated Railway (merged
Camden.— V. 93. p. 408; V. 94. p. 280. 352. 099.
in 1007 in tho N o w York N o w Haven & Hartford); February 28 1910
purchased substantially a l the various street railway properties or the
l
(10) Paterson & State Line Traction Co.
N .Y. New Haven & Hartford in Connecticut.
On March 1 1910 a l t h e gas, water and electric-light p r o p e r t ie s f o r m e r ly
l
Stock a l owned by tho Public Servlco Railway Co.
l
O R G A N I Z A T I O N . — Incorp. In N ew Jersey Nov 15 1901. Stock operated by the Connecticut Co., but owned or leased by N . Y . N . H .
authorized, *300,000 (Increased In July 1913 from *100,000, V. 97, p. 622), & U. RR. Co., were transferred to the H o u s a t o n i c Power Co., which com
pany increased I s stock from *1,000,000 to *3 ,
t
000.
000. to pay for the
outstanding, *150,000.
- .. .
.
.
acquisitions. On Jan. 1 1912. however, the ga^istribution llnra of the
nnisrns -,
D o te .
I n t e r e s t • O u ts ta n d in g .
A fa tu n ty .
Housatonic Power Co. and also the lines supplying electricity (not the
lstmtge *300,000 gold..... 1914
5 J-D
*160.00 June 1 1964 power plants) In Waterbury, N e w Britain, Greenwich, Norwalk and
Fidelity Trust Co.. Newark, trustee
Naugatuck were taken over under a sub-lease for 994 years d a t e d Oct. 1
1911 by t h o United Elec. Lt. & Water Co. V. 94, p. 71; V- 93, p. 1669.
PUBLIC SERVICE RAILROAD.
L e a s e . — Tho Connecticut Co. owns and has leased to the Shore Line Mec.
O R G A N I Z A T I O N . — A consolidation (under agreement dated June 30 Ry.. 89.20 miles of track in New London, WUllmantic, Danielson and Put
1913) of tho Elizabeth N e w Brunswick &'Trenton UK..and the Trenton nam. See separate statement for The Shore Line Elec. Ry. further below.
F a r e D e c i s i o n . — In Aug. 1917 Judge Gager in the Superior Court of N e w
Terminal iv v uapiiai block aumuruuu, *500.000.
1erminai RR. Capital stock authorized. ■
i.
juuuiwv 'i
/
hi
A *285.000 ’
a owned by Public Servlco Corp. of N o w J e r s e y t
ll
Julv Cf 19rih Imi Haven County dissolved an injunction restraining the company from dis
Regular trolley service between Newark and AUfenton July 1 1913, and continuing tho sale of tickets at six for 25c. or 25 for $1 in Waterbury,Conn.,
■ervice betweon Newark and Perth Amboy inaugurated about July 1 1914.
In Sept. 1917 tho co. announced an Increase In trolley faros from 5 to 6
l
V. 97, p. 522. Tho branch lino to Roosevelt Borough was placed in opera cents or 17 tickets for *1. effective Oct. 1 1917, on a l lines operated by the
com nanv in Conn. V. 105, p. 1208. In April 1918 tho P. U. Comm,
tion Dec. 8 1915.
sustained tho company’ action, denying the petition of the city of Hartford
s
for a reduction. V. 106, p. 1461. Tho city has appealed.___
lease.— Leased ^toTTmiton ^Terminal RR. (subseouently merged In
The following companies have been absorbed or are leased or controlled.
Public Service 11R. Co.) for 999 years f
rom April 1 1J12. Rental 5 % on
Street Ry. V. 79, p.268.
outstanding pref. stock, and, beginning with the year ending April 1 1915, Branford Lighting & Water Co. V. MiddletownStreet Ry. V. 79, p. 288.
•Montville
81. p. 155, 210.
, „
1 % on outstanding com., with additional 1 % annually until 4 % I paid.
s
Connecticut Railway & Lighting Co. N e w Haven St. Ry. V. 79. p. 989.
V. 94. p. 697.
N e w Haven & Centreville Street Ry.
V. 83, p.
„
O R G A N I Z A T I O N . — Incorporated in N e w Jersey on M a y 19 1910 as Danielson &1624.
V. 78, p. 989.
„
Norwich Street Ry.
successor to the Trenton St N o w Brunswick RR. ® r Q^ 10 N o w Jersey Short
[
N e w Hav. & W. Haven Horse RR.
V. 79, p. 268.
Line RR., both sold at foreclosure. See plan In V. 89, p. 1282, 1349.
E. Hartford & Glastonbury St. Ry. ♦New London St. Ry. V. 79, p. 268.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Fair Hav. & Westv.RR. V.78,p.989. ♦Norwich Street Ry. V. 79, p. 288.
C o m m o n *900,000 (*50)........
A-O
*811,350 ......... Farmington Street Ry. V. 89, p. ♦Putnam & Thompson Street Ry.
Stafford Springs Street Ry.
283; V. 89. p. 593. 1542.
Pref *300,000 5 % cum ($50)......
, A-O _
. ---r -r
__
_
First mtge *1.200.000 gold) 1912
5 g A-O
990.000Apr 1 1962 Greenwich Tram. Co. V. 80, p. 118. Stamford Street Ry.
(*1,000)....... . c*.tf/Int. at Logan Trust Co.. I hlladelphla, Trus. IIart.Man.&Itockv.T.Co. V.82.P.280. Torrlng. St Win. St. Ry. V.85.P.1463,
.
B o n d s . First mtgo. bonds are subject to call as a whole on any Int. day
—
Hartford St Middletown Street Ry. Wallingford Tramway Co.
at 110 and Int. Prln. and Int. are guar, under terms of lease by the Hartford Street Ry.
Trenton Terminal RR., whoso obligations are guar. In turn by the 1 ubltc Meriden Electric Ry. V. 79, p. 268.
o
Meriden Horse RR. V. 79, p. 268. T vy uuinaiitu; uab.v/u. t , i »
Service RR. and tho Public Servlco Corporation.
____
R O A D . — Owns 49.650 miles equivalent single track, standard-gauge
Meriden Southington St Compounce Winchester Ave. RR. V. 78. p. 989.
Tramway Co. V. 83. p. 1524.
3 closed cars. V. 90. p. 1362; V. 94, p. 697.
♦These roads were leased In 1912 to Shore Line Electric Ry.'. which
see further below.
The N. Y. N. H. & H. RR. offered to exchange *100 of i s stock for *200
t
NEW BEDFORD, MASS.
of certain issues of the Consol. Ry. Co.’ debentures. See V . 82. p. 803.
s
•i d V 83 p. 1037. *1 7 .
n
580.000 of debentures have been so exchanged for
*8.792.500 N Y. N. I & I . RR. stock. The following shows the
I
I
details for each Issue of debentures:
74
ELECTRIC RAILWAYS
D e b e n tu r e s o f T h e C o n so lid a te d R a ilw a y C o m p a n y — A H tax free.
E x . f o r S tk . o r
’
,
A u th o r i s e d .
.! s£ t £ i A~.Pu'•'* C a n c e l . S till O u t.
t f S3Y Z r~
■uly 1
?
J- S5.ooo.ooo
J
J»n. 2 05. 60-yr.. 4g J-J 4.000.000 S5.000.000
4.000.000
^ pr'}.Rf,§R’yr-<4* A -° 3.500.000 *3,500.000
-o.ow.uuu
vf?; 07. 10-yr., 5 % J_J }Q-RRRi00° *10 .
000.000
Mar.l
con. 15.000.000
------5.000.000
$745,000 a34.255.000
1.691.000 a2,309.000
2.160.000 ol.340.000
7.989.000 o2.011.000
5.000.000
9 F e b ^ ^ W ^ ^ y l a F . * 117,500’
000 $27fi00000 *17.585.000 59.915.000
now 4 g F-A*(9ee text) 1,000.000
1,000.000
28.000
972.000
Total of all........ $38,500,000 $28,500,000 $1^.013,000 $10,887,000
Guaranteed, principal and Interest, by N. Y. N. I . A n R R a These
I
£ ? « :M
of *«2 i«H iS S a
65f
-The debentures are In coupon form of $1,000 each and fully registered
[Vol. 106.
oin 9
f(' Knomlie8 ma,n-S0.427 miles second and 9.093 miles
,
i
Santtmnrt’ Shelton, Derby, ^ ' rcaVhln? Milford, Westport, Saugatuck
' ,
Hontbport. qhlitnn60n 2 i m Ansonia. Seymour, Bridgeport, Stratford,
Na^atuclf°U
w»^r0 ^ k
h
Q UIn• Darien and SUmford; also Ones in
I5r‘
w^f.uuf o uW . ^ ^Vry •
'
,^c- 8 st«m connects with the Fair Ilaven &
/
Westvlllei RR. Into N e w Haven from Bridgeport and Derby, and conmanv
a' has traffic contract with the Hartford Street R y for re^hlng Ha?^
so
f
°^TT?i?VfSvTVeetJ j^ .
lnche*- 35 to 95-lb. r i s
al.
“
o n u 1K N T °
*474: closed passenger, 199; open passenger.
201, miscellaneous, 74. Car barns, 20; also 4 complete electric-light plantsaS
UFPo1riMrnf?Ut
Norwalk and operates gas plant at Watwbury.
'
R H O R 1 l'OU cal. year 1917 and year ending Juno 30 1916:
_
R en ta ls &
I n t . o n G en er a l S in k .
D id B a la n ce ,
E n d i n g I n t .
R eed .
B o n d s.
E xp s.
F u n d s,
d en d s
S u r n lu .
P ec- §1 1017-.$1,410,094 $610,545 $5,368 $62,755 $742 871 def $10^446
O F ifiLiliWo.— Pres.,
4
Gt5 613.5451 4:785 J62j76f 68L801
g
5
LipF I C F r V 1 ° 2- R. A. O. Smith! V.-P.. Walton Olark* R m * 3 9 .7 w Q
o
C urran; V.-P. & Treas.. Lewis LUlie. OfHce. N e w l u J
conn V. 84, p. 390, 507, 1113. 1366; V. 85, p. 921; V. 86. p. 228; V. 106, p. 601.
( ) West Shore Railway.
2
fn
o ^ “9 rg?S, E d Doc- 15 1893- Leased on Dec. 14 1895
)e
to Winchester Ave. RR. for 99 yrs. for Int. on bonds and 5 % dlv. on stock
toojoro^CTty*1 F °b’ 28 1910 b7 th° Connect,cut Company, which oporatos
EQgoldm$460 oSo1si*0(Wl"B c{ In?16t
4^ * **-3 15 „ 5322’ §0
o
See textN assum d b y N Y N H 4 H ntf) O T 3 * f 8 e
*i[
” ' C °283H000,s S ; « l i™
x a a . w u sept. T 1933
N e t o H a v e n S treet R R .
—
t 3c
$ 5N s
!? ? !? * :
0 u % K $ - s ^ t T t r it u Hartford Street Ry, nowf 1900
4 g M-S
2 500 non «t«mv 1 ioq « s o k ? . & ^ o D (B2 ) D . r... Da. [ e:
R O A D . — Owna 7.42 miles of track. Standard gauge.’
SI oon^l8*0’ *2.500.00pjConn T?.®& Safe Dep°’Co.fe?rartford°
T H E R H O D E I S L A N D CO.
Hartford^t r V 7
t
" 1{l Tnistee. Int. at N e w York or Boston.
K y deben M ntf 1900 4 J-J 15
165 onn j*n i toon
Island C o P^h«S/>r^Hn!feS- ' nrN o , ; 7 1914 the securities of Tho Rhode
— 9 > v
W SRCTOfPnnn
1T1?02
4 A g J-J
1.992i000 Jan 1 1943
v no „ ^ , ko . } r o v^Idonce and Danielson Ry. and tho .Soavlow RR. (see
°J 0
1
V. 99. p. 1452), formerly held by the N. Y.N. H. & I . RR. Co and carrvI
Ha$ t M a H (
r
lVocHlm-C tglrntere8tat N C W Y °rk TrUat C o - Truste«
m
n h0 syste“ ?
five trustees as
v-J^OOAiqO ($1,000) gold.ntf 1894 5 A-O
200,000 Oct 1 1924 r w u ^ l Phv0th«nff° q° Department 'of ef0 transferred top. 1452. These
by the U. S.
Justice.— V. 99,
Meriden Horso Railroad con-) 1894 5 g J-J
4 15 000 Jan 1 ioo.i trustees are to exercise theiV best effort to s l the securities of thiso comel
Pa"‘ s. b - July 1 1919. The trustees are: Rathbone Gardner. Theodore
e y
$500*000 m °rtgaKe g0*#|In& f ^ G,rard Trust ( 'o'- of Philadelphia!
?*
Jii^rCu <,rlfn®- John O. Ames. John P. Farnsworth and Chas. C. Mumford
c
p. W O O m ® ' 9' S°°
Y -N - H. & H. RR. statement above and V. 98.’
$200,000 ($1 ,
000) c* ntf
at 11 0
callable at 110 since 1903.. InterestOptional Co. of and Interest.w York. t ORGANXZATIGN.-Created In 1902 by Special Act of the Rhode Island
at Trust
America, N e
Greenwich Tramway fir t
s
/h« R ^f.se® * h Union Railroad Co., the Pawtucket Street Railway
j®
6
320.000 July
1931 Cog
mtge $400,000 ($1,000) r1 ? 01 . at « e w York Trust Co., N e w 1York. Co. amiU
and the Rhode Island Suburban Railway C o .— s e e tcrmii under United
Interest
N
State Treasurer of Connecticut. Trustee,
Electric below. The Rhode Island Co. baa no bonds. In
Stafford'Spgs sV r V 1st M ^ t f .
1907 purchased the Providence & Burrlllvllle Street Ry., the Columf J-J
400,000 July 1 1950
Proylslonal debentures______1910
blan Street Ry. and the Woonsocket Street Ry. companies. V. 84,p. 1308
5%
1.000,000 To 1922
th^i7v,‘
i, _rThe Consolidated Ry. debentures are not subject to c l . All « S * w S 2 i i 911Jj*SSd the Providence & Danielson Ity.. the Se^rtew R r !
al
1 ,er RR.— see terms under separato companies below.
. dSb nturM h*T? Panted on their face the statement that I a mortgage
hl
A
i
f
' f i S P X S L V L ” S" of
company’ property which was owned on J im 1
s
27 *912 entered Into an agreement with city of
h,
f
•
x f t o3 mortgages, the debentures shall participate
Il,
111 the security of such niortKsc6> The debenture's dim in iov a ir\m ‘o
4
lx
,
tbo comPany a 20-year franchise from July 1 1912
from Peb. 1 1905 for Hrft 5 years ^ d S J ^Tfornei? 5 y ^ r 8 ° F w m ln'voT^p 019DS 08 tQ operatons, equipment, Ac., principally mentioned
^BerkshfreSt1R v r v ^80, p.^471), h ^ 7 eco. Issued to pay
1
^T
,?17 tho company accepted tho provisions of an Act
1 .
> P y' !^ b«nrf 7 i which r o was subsequentlyacquiring
acquired
by the General Assembly and signed by the Governor calling for an
*7 it0* If E 'rhn «i
nY
C
? " th<? In.
turn re-aenuired by7the N. Y.
investigation -nu tho rn.s affair, nnyl fho o Y v - i . . of financial rcliof i
11_p f
w
I he 53,o00,000 debentures due April 1 1955 wArs Ismutf tn
^ 1 ° Of tho c?
-.s
s and tho t r i . i u
affording
‘
onndjnstv lho special committee appointed to make tho investigation
9 %v,i
ere*Issued*to^he^hf*Y N ° H - & Hartford0? ,^) idebenture* of Jan- 1900 loom “rnn . s feP9Ft ln Marcb 1918 (V. 106, p. 1127; sco also V. 105, p.
£ t ® Vf0'
j
H for advances.
< 0
l r
t
V
I f ^ v i t xuuv.uiif,, among other Illli , _ojovwu
w . um
U1UUUK UUUC1 things, a modified zono system, with
'll-The Series • R'Ar.,qSJj!Lr
?
Vent^notes mature, $41,000 s-a April and Oct. certain rccorn.on<:hn^.. r nfnpr rofnmia
tax. franchise a, d , f e reforms. A special legislative committee
nn l
n
a enonini
.. ..*.
.
r
than sfsrfnnn ,liu' ent notes are secured by equipment, costing more was appointed to examine ?t l commission s roport, which i failed to anp™
tho
t
provo, recommending instead a 6-cont faro. The Rhode Island p. B .
- a W M o s
h-°a^aPaDa
r ynS*S?. " ^ 9 1 ^ ® ° ° ° - ' ” CaSh‘ ^ hcy
neptJ< when held by individuals. V. 103. p. 1117 '
hjt
L T O - J t o " , ^CCJl
i f^cd
a flat 6-cent faro was unjust and inequitable
nh^r!?r,aCrcd f 10 establishment of a modified zono system which will increase
.
Worcester & Connecticut Eastern bonds, no’more will be Issued
bonds commence*! In 1908 of not to exceed \<7 of chargt.s on long runs, the extension of transfer privileges, rerouting of
several lines in Providence, Ac. V. 106, p. 1127. Tho I . I Legislature
t .
h??i«8 , U
r r hSJ?nd n*3 Bonds cannot be called, but may be boughs on » V
basis or better, and kept a ive for sink. fd. See V 75 n vSK? *i«a non
ld
.
In sink. fd.. Incl. In amount reported outetandinV. ' 12°4' $ 68'°00 funto effect M a y Tigisfem a' In April 1918 authorized tho co’ to put
4S-COom>:^M-a 1»* JSET °f % « , y T ^
H
B A R N m o s . - O f Connecticut Co. for year ending Dec. 31°v * n l1
O p e r a tin g
N e t (a f t e r
O th er
in terest, '
B a la n c e ,
R even u e.
T a x es).
In com e.
R e n ta ls & c
S u r p lu s .
}R}I -.... 510.023,162 $1,607,648 $220,921 $1,208,721
5619,848
r o a d '
9-f66-435 2.689.449
271.595
1.782,556
r.uta.sao
1,078.488
wHiSSA ii£^?c1 1 «5 , l t C o m Pany operates 721.554 miles of lino fnf
,1 tcl
which 416.436 miles are owned, 294.851 miles leased and in 967 mi * a
?<
operated under trackage rights), serring the following c
ities
Cities of N e w Haven. Hartford. Bridgeport. w2fer?u^ N ^ Br?tTti?:
Mwlden. Middietown, Stamford, South Norwalkf^ Jbockvlllo Dwh?'
’ * ? the towns of East Haven. Branford North Haven'
id
-oSasa. gsss-fissc-
fofd- Bloom Held, Windsor. Staffordf:
windS?"
g g ^ ^ 5 ® ^ * f f 9 B .'! S ,r t E g 9 S
OFFICERS.— Pres.. Lu’
ciua S. Storrs; V.-P. A Gen. Mstr J K Pnndor
ford. Sec., Victor S. Curtis; Troas., E. T. Chapman- Comnt” 1’
!ii
of N'ow Haven. V. 105, p. 1208, 'l310. 1418^365;^ V^ge/p.' weuYdss!
(1) Connecticut Railway & Lighting Co.
L e a s e . - - - L e asod for 999 years from Aug. 1 1906 to the C o n s o l T t v
Co., which latter has since been merged in the N. Y. N I & H R R (’
I
«'
Rental amounted to $975.000 for thf year 1 9 0 ( W and i n C T ^ V r o d u S l v
Colonld^fnsT n 1,45?'50.
0
Tho conlmon shareholders^paid tho
Irust G o - trustee, $10 per share on their stock which with
.
tho surplus rental received under the lease, provides a fund which* i- ia
f «
t K n C Ail
t0 P?y,4. pc, an n ^ on both w m T aSd* pSof*
%
r
s^
oc^ assented to this arrangement. Preferred snare
holdCTS a^eed to accept 4\/0 dividends during tho term of tho lease, instead
Stock° nar S101? B ° N D S —
D a le ‘
In terest-
O u ts ta n d in g .
»VMES“
s?:ra7,'0TO
M a tu r ity .
A??J4ir
?
8,887 above notes were held by N. Y. N. I . & I . on Juno’ 19"l7‘
I
I
30
— Secured by $2,078,300 par value of United Traction A Elec
° r o a d ‘ S'e
rh0ff?/hn5 nT - 192-P- 2255- Tax-exempt In Rhode Island
V.
(OCJ
— The Rhode Island Company operates 302.57 mUoa ol line
aro4
ownedeaLiaTviaL a^ii^U I le3 s a m railroad).of which 39.911 miles
^iI ^
? i
miles are leased
It serves the cities of ProvIPawtucket, Central Falls, Woonsocket and Cranston In Rhode
i^*'ld and Danielson. Conn., and the towns o l Warwick. North ProvlTbVe '
Cnrnh^rUnH enr e•.
Ci ,J°hn*ton. Smithfield. North SmithBeld. BurrillBr s ' l F «f n ^ i u ' Barrington. Covontry, Scituate, Warren,
tnC
^r>sto1 East Greenwich, Foster North Kingston. South Kingston and
.
in Au* 1914' Vh w lrn ! Q 0tn North Main St. to Thayer St. was opened
n,i M
yy».P* 539. Its equipment consists of 1.010 nassenser
Ca^ A !^ r t ^ tCar" and 173 miscellaneous cars: total, 1.279.
r
u
.
8
E A R N I N G S . — For years ending Doc. 31:
n ? *?, " ‘ O p e r a tin g
N e t (a fte r
O th er
In terest,
B a la n ce ,
SaL
a i X £ n m . t f f i
i j g .. a . l . Totter.— V. 101. p. 289: V. 102 n 951 99^* v in< n
vir
5
1898.2090.2095; V. 106. p. 1127 1578. 1689
’
5’ P ’
( . United Traction & Electric.
a)
’ U n ite d T r a c tio n A E le c tr ic C o m p a n y , chartered In
qrpJw/j|^e5r own9i S k ° f Railroad Co. of Providence, the Pawtucket
i
;^rc«t By- Co. and the Rhode Island Suburban Ry. Co., and thus controls
s
3
nreot r? 7?iT systep! of the cities of Providonce. Pawtucket and
donee**
s'and
tbe count 03 of Kent, Washington, Bristol and ProvlThe Union Railroad Co. and tho Pawtucket Street Railway Co. have
b ^ n l ^ e d for 999 years from Juno 24 1902 and the Rhode Island Suburfaction of unpaid accumulations of dividends on prof, shares to Aug l 1
90(5* RhLip r Y a r i n A H?9 been ,ea3ed f 999 years from June 30 1904 to The
. » ,. C
°r
M a n d Co. for an amount of rental permitting tho Unltod Trac. A
tb< ?wncr
°
t 0I
J1 18bar0s of tho three leasing companies, to pay I
ts
yearly fixed charges and dividends of 5 % on I s stock. lau,OT' w
t
'
i For statement as to tho relation of this compauy to the Rhode Island
n |
V. V o. 1599
tion of the following companlM:
’ v -72-P- 44- “ « a consolida- V %99. h f nnotrU3teeS hav0 acquired contro of the^forinor company. s"e
a
Bridgeport Traction~Co.'
STOCK A N D BONDS—
D a te .
In terest.
O u ls t’ d 'g . D l v . . M a t . . A c .
Norwalk A So. Norwalk El. Lt. Co. Stock_______________ _
5 q.
j
Central — j . , El. Co. of N e w Brit.
*
-— *-• Ry. A ‘
$8,000,000 Apr’
18.1 H %
Norwalk Street Railway Co.
Cheshire Street Railway Co.
United Trac A Elec Co, Prov) 1893
5 g M-S *9.000 000 i*.»r 1 1933
"
Mar .
Norwalk Tramway Co.
Derby Street Railway Co.
Shelton Street Railway Co.
rntge ^LoToL’gifd..(
!ntf]Int°reat ** ^°ntral Truat d o -’N * Y -Trustee
Greenwich Gas A Electric Ltg. Co. Southlngt’ A Plantsv. Tramway Co.
n
Milford Street Railway Co.
—
ThomastonA WatertownEIec.Ry.Oo. i 9o a lo w ncls' Company start<k 1 paying dividends with 1 % In 1897. In
Naugatuck Electric Light Co.
Waterbury Traction Co.
10 0 1.
l» 1902.
Naugatuck Valley Electric Ry. Co. Westport A Saugatuck Street Ry. Co.
Norwalk Gas Light Co.
mmmmm
!So!i?j7“cS 54tD ” nuS%
o iS
'
„ STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
152 bondholders. All of the $9,000,000 capital stock of the U n io n R R .
C o m m o n stock ($100)______
.......
$8,977,200
Feb?nnPhnn iJwn,Y * i °r i h,J o S f f l n
'18,1)1
Pref 5 % cum after Jan 1 1904
i
l
capltal stock of the P a w tu c k e t S treet R y.
($100) (reduced to 4 % un
S ° P » S dV r ,
- 0?:999 f ” l m O
L
^
U n io n l i t
Q-F 15
8.142.900 Fob'18. V A
of Providence. Also, through the'oSvnwhip o^'tlTel
(JnionURR."oo?,‘$299!der lease to N e w Hav Co..
i$300,000 V**"1 stock, being ““ DUI z *nares, or tne P r o v id e n c e
a l but 2 shares, of the P r o v id e n c e
l
’ 7n. capital
7 ^ In n ^*
1st A ref $15,000,000 gold 1901 3 _ t
m irntf
hnrwl«\ Tho
&J;LJ2.Ml.°g0 Jan_l 1951 i J t ^ ra T lwaM ( ° ‘ &V? bonds). T'hn Providence n-ui^ rn______ rCo. •s
9
Cable Tramway v . I
($1 ,
000) sinking fund.c*tf
t
Bridgeport Traction mortM L S * Equitable Trim'CoT n . Y~Tros^Si* leased to the Union UR. Co. for 50 years for 6 % on i s caDltal ntnelr
T R E A S U R Y SEOURITIES.-The Unit«I Traction^ * f i t e C o ' . qa.
gage $2 ,
000,000 gold ($1 ,
caP»t«l stock ($5,000,000) of tho Rhode Island
Suburban Ry. Co.— V. 89. p. 105: V. 99, p. 1599: V. 105. p. 2095.
Conn'«tlS£ u i K 7 . ‘
tl 1S99"“ 5 J J
°”d M £ t e ‘ u K ° ' m 9
V
JJon ds^ — Of tho 1st and refunding mortgage bonds $915 000 r * * r # < tn
fs*v*i
^br?nR* b j a ? n SMJ?uI bafi Railway.— A trolley road.
h
retire the prior bonds The rerbainder was r«!e^6d for « S o ^ %
State* nf
Chartered June 2 1899 by the Legislature of the
I* and ''Itb powerto construct, purchaso. lease or operate
'
betterments, but under lease to the N e w Haven road cannot bo l s a i fnr
su<
vn ?ny, P art of the State, except Newport County. By the
!
.
any purpose without consent of lessee. V. 84. p. 507. Statement 2, New
York Stock Exchange In V. 73. p. 852; also V. 7 9 . pf2745- atao V 85 n 02
ptwhJ3# !
?
6 3 T l *ed with the power of eminent domain, and the
f8
Bonds were formerly not subject to call, but on June 23 1904 as^'nniil Sfiii i .l n?g0ff Passengers, freight, express matter and United States
» tS
mental mortgage was made giving the right to oall bonds m
Rhmla^Island^ o?.^j7n8^30” 904.^-authorized to do business. Leased to
dftte at 105 and Interest and establishing a s in k in g f u n d of u of l<7 n«* on
on bonds outstanding; bond, acquired by t L X k t a g f ? < a r ^ T X
,nl
^
In teT eS tALdluriltf.
kept alive and bear Interest. $ 1 068 OfH) hnn7i. t> L i . a o P?Ji° S ^ k ? $ 5 00o!o°0B 0 .N .D. ! ^ . . D aU :
r8 t T .
Firstimortgage ($1,000), guar ( 1900
4 g J-J " 4!682!000 J
a'n.’ l'lOSO
prin and Int, $5.000.000.]Union Trust Co.. Providenco, Trustoo.
Sw.„ '5'
t
7> -;
-C* lInterest at office of the Ry. Co.. Providonce.
Th° United Traction A Electric Co. owns tho outiro capital stock and
accept’
e§'by2f io^82°000 of ^ts^ndi*ng< n iuhXPS ^ v ! <
bor c
83.\)^969. C
an'
*
guarantees the bonds, principal and Interest.
w
u
75
ELECTRIC RAILW AYS
Ma y , 1918.|
Bonds.— There are reserved In the hands of the trustee S 3 18.0 0 0 to take
up and retire $247,200 5 % gold first mortgage bonds of the Pawtuxet Valley
Electric Street B y . C o . and $09,000 6 % gold first mortgage bonds of the
Cum berland Street B y . C o ., the former issue being guaranteed, principal
a n T in te r S t . by the l/nlted Traction & Electric C o ., which guarantees the
payment of the interest on the Cum berland bonds.
S E C U B I T I K S P L E D G E D . — T h e bonds are secured by a mortgage on all
the property owned or hereafter acquired by the com pany, and by pledge
of the following securities: 700 shares of the Cum berland Street B y . Cou.
3,985 shares or the Pawtuxet V alley Electric Street B y . C o . and 6,000
shares of the Barrington Warren & Bristol Street B y . C o .
B O A D .— Consists of 0 0 .12 miles of line.
OFFICERS.— Pres., Howard Elliott; V .-P ., L. S. Storrs; Sec., A . E .
Clark; Troas., A. S. M ay; Aud., I. A. M ay; Gen. M gr., J. K . Punderford.
WESTCHESTER STREET RAILROAD.
Under the decree of the Federal Court tho N . Y . N . H. & H . must sell
the 7,000 shares of stock and $222,000 bonds owned by it on or before
July 1 1919
The New‘ Haven Co. Intends to merge this company with the N . Y . &
Stamford R y. and Shore Line Elec. R R . and to dispose of all the securities.
ORGANIZATION.— Incorporated in Now York on Dec. 1 1909 as suc
cessor to the Tarrytown White Plains & Mamaroneck R y. sold at fore
closure (V. 89, p. 1282) in three sections, two of which form tho road of this
company. V. 89, p. 1484. On July 1 1913 commenced operation of line
of Shore Line Electric R R . Co. under lease. 1.406 miles in village or
(c) Providence & Danielson Railway Co.—A trolley road.
On Juno 30 19 17 New England N a v . C o . owned $913,200 stock. In Mamaroneck. Standard gauge; 70-lb. and 125-lb. rails.
Anril 19 17 the entire $600,000 1st 5s were transferred to the N . Y . N . H . &
STOCK AND BONDS—
Date.
Interest. Outstanding.
McUurity.
H . B B . C o . See remarks above under Rhode Island C o . concerning Stock $700,000___________ All owned by the N . Y . N . H . * H. R R . Co.
First mtgo $2,000,000 goldl 1914
5 g M-S
$386,000 Sept 11944
Is°loaso!l to W iodff island C o . for 999 years from Juno 30 1 9 1 1 ;
($1,000) .....................__c*JInt. at Farmers’ L. Sc Tr. C o.. N . Y .. Trus.
lessee to pay 1 % on stock. Interest, taxes and all charges. V . 92. p. 15 0 1.
B o n d s .— Subject to call at 102 from Sept. 1 1915 on 60 days’ notice.
Remaining $1,614,000 Issuable only to reimburse tho company Tor cost or
ST O C K A N D BONDS—
D a te .
In terest.
O u ts t a n d in g
M a tu r ity .
future additions. Improvements, &c.
Stock $1,000,000 ( $ 1 0 0 ) . . - - - - - - - RnrS’m n M k V T l i m
EARNINGS.— For year ending Dec. 31:
„ .
Dec. 31
Operating
Net {after
Other
Interest
balance.
Year___
Un g l ? ^ C < m£ Pu d <
35 67 m lka; 60-lb. T
rails; standard gauge.— V . 90, p. 447, v . 92. p. 726, 15 0 1.
<d)
on * i 7*Now1 England N a v . C o . owned 7,000 shares of stock.
e
In A D r if lO 17 tho entiro $600,000 1st 5s were transferred to the N . Y . N . H .
& H . B B . C o . See Bhode Island C o . (above) regarding transfer of control
* ° £ S . - 6 n June 30 1 9 1 1 was leased to M » d e
‘ ° o . for Int. o n b o n d ,
1 9 i e f 3 eind 19°17.8m l a
V%
n d 4 % In 1920 mid 19 2 1; 5 % in 1922 and
yearly thereafter. V . 92, p. 1 5 0 1 .
_
O B G A N I Z A T IO N .— Incorporated In Bhode Island on Ju ly 28 1887.
^ STO C K A N D BON DS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
W W 5*m ortgage'"$1 000“
.666\ 1898
5*J-J” '
600’ 000 J u l y ' i “l948
,
gold ($ 1 000)
’___ ntf(Eq u ltab lo T ru st C o ., New Y o rk , Trustee.
ftO A D — Operates 19.24 miles of road between East Greenwich and
Wakefield.— V . 92, p. 726, 15 0 1.
(e) Narragansett Pier Railroad.
O R G A N IZ A T IO N .— Is Icasod to Rhode Island C o . for 99 years from
Juno 19 1 1 ; lessoo to pay in t. on bonds and 4 % on stock. Stock, $133,8 00 .
\f
$70 000 due A ug. 1 19 36 (replacing $70,000 4s duo A ug. 1 1916)
f o t f V !-A . at Ithodo Is la n d llo s p lta l t r u s t C o .. Providence, trustee. E x tonds from Narragansett Pier to K ingston, 8 .4 1 m . Is operated by steam.
BERKSHIRE STREET RAILW AY.
P r o n o s e d S a le o f S tock — ' ho entire capital stock of the Berkshire S t. R y .
T
and (V ?00 shnres of stock of tho Vermont C o . (see below) owned by the
New H aven O offis to ^ M l d before Ju ly 1 19 19 . provided sale Is authorized
byo n D cc?3°l 19 1 7 i T y )’T i l & H .“owned all the stock, the entire ($200,
000) Issue of debentures and $3,347,500 notes.
O R G A N IZ A T IO N .— Incorp. In M ass, on June 20 19 0 1. F r a n c h is e pornetnal
I n 1906 absorbed the lloosac Valley St. B y . through exchange of
sto ck .' In M a y 19 10 took over the Pittsfield Elec. S t. R y ., issuing $300,000
stock in oxchango for stock of that company. V . 90, p. 1^9.).
In M arch 19 12 M ass. B R . Commission approved tho 99-year lease of the
^ e °Fob^ l' lt913hbegankoporaBmf1)f Pfoosick Falls R R . under agreement
o™
with Vrrm ont Co. to which tho Hoosick Falls R R . was leased.
On D ec. 30 19 10 the P . S. Com m , of M ass, ordered the co. to complete Its
Leo-H untington lino. Tho entiro lino, 23.84 miles, was placed In operation
STOCK AND BONDS— D a t e . I n t e r e s t . O u ts ta n d in g . M a t u r i t y .
Stock $5,398,100 ($100)..---- - - - - 5- - V K * 8,«nn’000 June'l" 1922
F
1
o f f i Trust*Co., p f i e f o h l a f T n a s g
Berkshire Street R y d o b -.t f 1905 5 g M -S
?n o ’000 Sent 1 1924
Hoosac Valley ref mtgo $40 0,-1 1904 4 g M -S
. qi 00r’, 9P° p it ^ r t -™,4
000 gold ($1,0 0 0 )..........n tf tin t, at Berkshire L . & T J . C o . , P ittrf.. In w .
Pittsfiold Elec St B y 1st mtgei
1904 4 g J - J
- r ! ° n n p f f l M am
g $300,000 ($ l,0 0 0 ) .c * .n t f lin t , at Berkshire L . & T r . C o ., P ltts L . M . wm.
D u e N Y N I I & I I R R D ec 3 1 19 17 .......................... 3,347,500 ............ .........
Bonds.— Tho Berkshire St. R y . 1st M . are not subj. to call. In t. Payable
and bonds may bo registered at office of N . W . H arris * C o .. Boston,
Tho Berkshire St. R y . debs, are guar, by Consolidated R y . C o .
E A R N I N G S .— For years ending D ec. 3 1 :
_ . „
D ec. 31
O p e r a tin g
N e t (a ft e r
O ther
In terest,
B a la n c e ,
Y ear—
R even u e.
T a x es).
In com e.
R e n ta ls , A c .
D eficit.
19 1 7
19 16
---* 1,0 5 8 ,7 2 4
*46,739
$36,808
$317,90 8
*234,361
--999,886
184,918
2,269
3 16 , M>7
129,480
R O A D . — O p e r a t e s 17 3 .3 3 7 m . or li n e (14 5.324 o w n e d a n d 2 3 .0 13 le a s e d )
serving tho cities of Pittsfiold and N orth Adams and the towns of W illiamstown Clarksburg, Adams, Cheshire, Lanesboro, D alto n, Lenox, Illnsdalo,
Lee Stockbridgo, Great Barrington, Egremont and Sheffield. M ass, Pownal.’ Bennington and Shaftsbury. V t .. and Hoosick Fa lls. N . Y . 143
passongor and 33 other cars.
__Pros.. IIo ward .Elliott: V .-P ., L . S. Storrs: Clerk Sc M g r.,
O O Richmond- Treas. A . S. M a y ; A u d ., I. A . M a y . V . 95, P- 967, 1039,
V i 96, p ! l 0 8 8 . 16 27; V . 98, p. 999; V . 99, p. 195; V . 106, p. 1688.
(1) Vermont Company.
.
L'ownll)1?b e in g tlint p .r i
tho N. Y. N. H. Sc II. owned 6.500 shares of stock aud $846,000 ist
bonds (tf).
(a) Hoosick Falls Railroad.
..
1917
M.
oflhm s c^ n g 'to w n s of°Walloomslc! N orth Hoosick and Hoosick F a lis .N .Y .
NEW YORK & STAMFORD RAILWAY CO.
Tho New n a v e n C o . is to soli on or before J u ^ 1 19 19 , p u r e ^ n t to the
decree of the U . S . G o v t., 5,000 sharos of the
»*jd
'bonds.
Tho Now Havon company Intends morglng thIs company w1th the Westchoeter Streot R R . and tno Shore Line Eloctric
dispose of all the
securities whonover a reasonable price m ay be reauzea.
On Doc. 3 1 19 17 N . Y . N . H . & H . ownod entiro capital stock and the
$20-1.872 notes.
O R G A N IZ A T IO N .— Chartered in New Y o rk on Aug. 3 19 0 1 as a con
solldation of Port Chester Streot R y . and Larchm ont Horae R y .
STO CK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $500,000-.............................
-—
- yz
*522*888 SL}1i12,^|
F irst mtgo $450,000 ($1,0 0 0 )1 19 0 1 5 g A -O
426.000 O ct 1 19 3 1
crnid
c* n tf lin t , at New Y o rk T ru st C o ., N . Y . . Trustee
F irst Je'ref'm tge $2,000,0001 1908 4 %
y 9& ° h f t n lr t f o r d
d ........................................tf (G u a r., p. Sc 1.. by N . Y . N . H . & Hartford
gold____
201.872
N Y Sc Stamford Ry notes
EARNINGS.— For year onding Dec. 31
Balance
Other
Interest,
D ec. 31
Operating
N et (after
Deficit
Incom e. R entals,Ac.
Year—
Revenue.
Taxes).
$59,018
$665
$95,801
1 9 1 7 ........................ $394,260
$36,118
33,082
540
95,824
19161........................ 357,816
62,201
n o A D .— Operates 37.675 miles of lino (of which 24.274 miles are owned.
7 563 leased and 5.838 operated under trackage rights), serving cities of
Stamford. Conn., and Now Rocholle, N. Y .. and towns of Greenwich
Conn., and Ryo, Port Chester, Harrison and Mamaroneck, N. Y . 80 pass
and 8 othor cars and 3 snow-plows.
Revenue.
Taxes).
Income. Rentals,A c .
Deficit.
19W - .............S K ’JS
def.S80.051
$346
$27,284
$106,989
1916 ________ 250,087
def. 16,659
313
22,032
38,379
ROAD.— Operates 29.663 miles of line (22.030 m. owned. 1.466 m. leased
and 0.167 m. under trackage rights) serving city of M t. Vernon and towns or
Tarrytown, Elmsford, Greenburg, White Plains. Harrison. Scarsdale. Eastchoster and Mamaroneck, TT. Y . Has 37 passenger cars and 9 others.
OFFICERS.— Same as for N . Y . Sc Stamford Ry. Co. above.— V. 94.
p. 1121. 1765; V. 98, p. 1246; V. 99, p. 895. 1912; V. 100, p. 644.
SHORE LINE ELECTRIC R R .
Merger, Ac.— For reference to merger with Westchester Street R R . and
N. Y . & Stamford R y. and disposition of securities, see latter co. above.
ORGANIZATION.— Incorp. in New York on Dec. 18 1909 to take over
tho section of the Tarrytown White Plains Sc Mamaroneck R y. (sold at
foreclosure) between Mamaroneck and Larchmont , a distance of 1.46 miles.
Leased to Westchester Street RR. from July 1 1913. Stock auth., $300,
000. In Aug. 1913 the New York P. S. Comm, authorized the N . Y . N . H.
Sc H. R R . to acquire all the capital stock of the company to be authorized
by tho Commission (V. 97, p. 597).
NEW Y O R K WESTCHESTER & BOSTON R Y .— An eloctric road.
On Doc. 31 1917 the N . Y . N . H. Sc H. ownod $4,984,938 stock.
ORGANIZATION.— Incorp. June 8 1 9 1 5 as a consolidation of the Westchostor Northern R R . and the old N. Y . W. & B .R y . (See this Section
for Sept. 1915.) Tho franchise to operate in N . Y . City was signed by
Mayor McClellan on Aug. 2 1904. V. 79, p. 628. Lines
Now York, to Now Rochelle and from Mount Vernon to White 1 Iains nut In
operation on M ay 29 and July 1 1 9 1 2 , respectively, and from narlemTHver
to 180th St.. Now York, on Aug. 3 1912. V . 94. p. 1508, 162<; V. 95.
P*On’.Tuly"26 1911 Pub. Serv. Comm., 2d Dist., auth. $20,100,000 1st M .
bonds (total auth. issue, $60,000,000), of wblch $ 1 7 ,2 0 0 ,0 0 0 were Issued
forthwith. V. 93, p. 286. The remaining $2 .9 0 0 .000 bonds under this
authorization were Issued from time to time for the construction of the
White Plains Branch. On April 2 1913 the P. S. Comm, granted permlfaloa
to Issue $6,044,000 additional 4 H % bonds, proceeds fo be ^ d for con
struction of main line double track from NewJRochelle to I c*r-t Chester and
for completion of White Plains Branch. V . 96, p. 1089. Of ^bese bonds,
$744,000 have been Issued for construction of main line and $546,000 r®r
White Plains Branch.
STOCK AND BONDS—
Date.
Interest. OutsUindino.
Maturity.
mi
1
Series 1 (see text)_____ tf (Int. on $ bds. in N . Y ., on £ bds. In London.
D ueN Y N H Sc H RR Dec. 31 1917
............... 10.731.4S1
- .............
Bonds.— Remaining bonds aro reserved f«r co^tructlon. Par. c*’
$1,000, or £200 and £100: r*. $1,000 5 nd multiples.
multiples convertible into $ coupon bonds at $4 85 per ^ •
,
of interest at current exchange rates. Any serifs or not less than $5,(W0,000 of one or more series, redeemable on any Int. date at 110. Guaranty
Trust C o.. N . Y .. trustee. Bonds are unconditionallyQ
8uar.. p. Sc 1.. by
endorsement by N. Y. N . H. & Hartford RR. 3 i « V . 93. p. 346. Bonds
are listed on N . Y . Stock Exchange. V. 94. p. 768.
EARNINGS.— For year end. Doc. 31:
t
r ,
,
_ .
Cal.
Year—
Operating Net (after
Revenue.
Taxes).
Other
Interest,
Income. Rentals. A c.
1017 •
3555 414 dof.S32.513 S10.733
J917----------- — $005,111 deL 26,739
461950
Latest 'Earnings.— 3 mos. ending Mar. 31:
1918.................... $125,679 def..$20,543
$930
19 17
130,529 def. 10,791
4,016
$1,609,126
1,563.46
Balance,
Deficit.
*1,630.906
1.543.249
.
$*23,2 1
$42,774
*22,660
29,435
♦Excludes interest on bonds charged Income and paid b y the N . Y . N . H .
Sc IT. R R . C o. under guaranty; also interest on notes held b y the N . x .
N . H . Sc H . R R . C o . not credited to the incom e o f that com pany.
R O A D .— T otal miles o f road operated, 21.44 miles- Line
Harlem River Station o f the N . Y . N . H . Sc n. in N . Y . , extending to
174th St. Junction, where the N . Y . W . * B .
y o itV
Havon and on Its own four tracks extending northerly to linei o f N . Y . C ity ,
then through M t. Vernon to Columbus A ve. June., at, which point the line
divorges into two double-track llnffl. one exten d ln g th rou g h M r .V e r n o n .
Poltiam and N ow R ochelle to Larchm ont June., 2.16 miles, the other line
extonds from Columbus A ve. June, to W hite Plains, passing through M t .
Vernon. Eastchoster, N ow R ochelle. Scaradalei and W hite 1 Iains. See
also V. 93, p. 346; V . 79, p. 501; V. 97, p. 1824; V . 106, p . 1689.
O F F IC E R S .— Pres., Loverett S. M iller, N Y .; V .-P ., H oward E lliott.
__ V . 97, p . 1824; V . 98, p . 1538; V . 100, p . 1919, 2011.
N EW O RLEAN S, LA.
per plan under caption o f Am or. Cities R y . & L t. in V . 92# p. 1373, 1434.
O R G A N IZ A T IO N .— Incorporated In Louisiana on June 12 1905 as a re
organization o f the New Orleans Rys. C o. per plan in V . 80, p. 651. Old
com m on stockholders paid an assessment or $10 per share'andreceived $10
new preferred and $35 new com m on; old preferred paid $20 assessment
anti received $20 in new preferred and $100 In new com m on. Cmnprisee
all tho stroot railway, gas, electric lighting and power business (with the
exception o f that furnished b y tho Consumers LI. Lt. & P ow . C o ., to which
tho co. also furnishos power under a favorable contract) 0fT^ ' v.
Stock an<i bonds wore listed o n N . Y . Stock Exchange in Juno 1906 and
JuOn Dec.' 31V-1917 o w n « i7th V fon 6wlng6
stocks.
amounts outstanding o f each Issue:
W e show also the total
0wn, d „
Issued.
N .O .R y.A
N.®0 0 C ™ B B , C o . . p M « r r t i ..........; ; ; ; ; ; ; ; ; ; : ; ; *|.600.000
N ..O . * Carrollton R R . L t ..* P . C o ..
;;
St. Charles Streot R R . C o ................................................
oq5 ’7 nn
O r le a n s R R . C o .....................
234.700
o i n ’non
N . O . * Pontchartrain R R . C o .......................................
M O Gas Liccht C o
_____________________________ 6.250,000
Jefferson Sc Lake Pontchartrain R y . C o ---------------100,000
« ;« § » ;» » »
934'350
234.360
x o i i ’enn
5,211,200
99-300
.. .....................................................................................$21,487,800 $21,282,250
T he Now Orleans C ity R R . is leased until D ec. 31 1955 to the N ew Orleans
R y. & Lt. C o. for 5% on the pref. stock and
until Jan. 1 1908 and 1%
semi-annually thereafter on tne com m on stock.
Proposed Consolidation.— On M a y 22 1916 the stockholders o f 4be New
Orleans R y . Sc L t. C o. and the various controlled cos. voted to consolidate
76
ELECTRIC RAILWAYS
[Vol. 106.
Ma y , 1918.]
ELECTRIC RAILWAYS
under the sam e name and with the samo capitalization as the present New
Orleans R y . & Light C o ., but an Injunction was secured b y certain stock
holders o f the N . O. C ity R R . restraining the m erger. On A ug. 1 1917 this
Injunction was dissolved b y Judge Foster In the U . S. D istrict C ourt at
N ew Orleans. The C ourt, however, retained Jurisdiction o f the suit In
order to pass upon the question as to whether the m inority stockholders
have been accorded proper treatm ent. V . 105, p . 819. It is planned to
have the consolidated com pany own all the physical properties now operated,
and the stock o f the New Orleans Gas Light C o ., which for legal reasons
cannot becom e party to the consolidation.
F r a n c h is e s . — T h e N . O . C ity R R . C o. franchises expire from 1943 to
1962. except one expiring In 1918; the N . O . & Carrollton fran
chises expire In 1933; the St. Charles St. R R . franchises expire In 1956 and
the Orleans R R . O o. franchises expire In 1951. Gas franchise Is perpetual
and Is exclusive until 1925. Electric light franchise Is perpetual; under
contract w ith city fixing rates, & c., entered Into D ec. 1915 (V . 101, p. 2072),
the city has the right to establish a municipal electric light plant after D ec.
1925, but should It elect to do so It must take over all street Installations
made b y the co. In the last 5 years at cost, less 5 % per ann. for deprecia
tion. V. 102, p. 1987.
$3,250,000 2-year 6 % deb. notes and $3,250,000 ref. and gen. lien M . 5s
were Issued in M a y 1916 to refund $4,000,000 6 % debenture notes due
June 1 1916 and for other capital requirements. V . 102, p. 1987.
On O ct. 27 1916 renewed contract with C ity o f N ew Orloans for lighting
for 10 years from com pletion o f system provided therein, which was nearing
com pletion in April 1918.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C om m on $20,000,000 ( $ 1 0 0 ) - - ..................................$20,000,000
See text
P ref 5 % $10,000,000 ($100)/
_
non-cum ulative---------------------5 Q -M
10,000,000
See text
N O R y & Light Oo gen m ort 1905
444 g J-J 17,544,000 July 119 3 5
gage $30,000,000 gold (S L - Interest at New Y ork Trust C o ., Trustee, or
at office o f com pany.
N O A y"& "Lt C o ref and gen 1909
5 g M -N
6.079,700 N o v 1 1949
lien m tge $50,000,000 (SI . Int. at Hibernia B k. & T r. C o ., N ew Orl.,
000 & $ 100) g old -------- c* tf
Trustee, or at Guaranty Trust C o ., N . Y .
Debenture notes $4,000,000 1916
6 g J-D
4.000.000 Juno 1 1918
gold ($1 ,0 0 0 ) ............c * c p t Int. at Central Trust C o ., N . Y .. Trustoo.
N O C ity gon m tg $3,250,000 1898
4-5 g J-J
3.200.000 July l 1943
gold ($ 1 .0 0 0 ) ................ c * t f Int. payable at office o f com pany.
Fidelity Trust C o ., Louisville, Trustee.
New Orleans C ity & Lake 1st 1893
5 g J-J
2,453.500 Jan 1 1943
m tge for $5,000,000 gold Subject to call for sinking fund at 110.
($500 and $1,000)------ c * t f Colum bia Trust C o ., Louisville, Trustee.
Interest payable at office o f com p any.
N O Power-house mortgage 1901
5 g J-J
200,000 July 1 1943
gold $200,000 ( $ l,0 0 0 ) . c t f Fidelity Trust C o ., Louisville. Trustee.
Interest at office o f com pany.
N O & Car con M $2,000,000 [ 1899
5 F-A
2.000.000 Feb 1 1933
($500 & $ 1,000)...............n t f Interest at office o f com pany.
Canal Sc C lalb R R cons M g 1896
6 g M -N
749,000 M a y 1 1946
$800,000 ($500 & $ 1 ,0 0 0 ) . . (Interest at office o f com pany.
Edison Elec o f N O 1st M [ 1899
5 J-J
2.243.000 Jan 2 1929
($1,000) s f $2,500,000 c * t f Int. at American T rust C o ., B oston, Trustee.
M erchants’ E lec Oo 1st mtge [ 1899
5 g J-J
300,000 July 119 2 9
$500,000 gold ($ 5 0 0 )..c * t f Int. at M erch. L . & T r. C o ., C hicago, Trus.
8 t Charles St 1st M $600,000 1902
4 g J-J
375.000 Jan 1 1952
($ 1 ,000) g o l d ............... c n t f Interest at office o f com pany.
quip
lig’s $199,000
Equip lease ob llg’s $199,0001 1914
6 A-O
141,000 O ct 1 1924
($500 and $1,000)............tf /I n t . at Fidelity Trust C o ., P hlla., trustee.
$1,000)............t f
Bonds.— On the New Orleans Sc Carrollton consolidated bonds $30,000
per annum Is payable to a sinking fund. A sinking fund o f $30,000 per
annum is provided for the redem ption o f the N . O .O it y & Lake R R . bonds.
The M erchants’ E lec. C o. bonds are sub. to call at 102 and int. at any tim e.
T he St. Charles Stroot R It. bonds are not subject to call, but a propor
tionate am ount will bo retired yearly b y purchase in open market. Edison
E lec. C o. o f N . O . bonds have sinking fund o f 1% per ann. o f bonds out.
O f the $30,000,000 general m ortgage o f the New Orloans Railway
& Light C om pany, $669,000 are pledged undor the general & refunding
m ortgage 5s, $935,000 are in treasury and $11,521,000 aro reserved
for prior liens.
They are subject to call on any Interest date
upon 4 weeks notice at 105 and interest.
See V . 82, p. 1497.
See
description o f bonds and property in V. 8 8 . p. 1621. $30,000,000 o f
the ref. Sc gen. lion rntgo. bonds are reserved to retire the Gen. M tge. 4 44 %
bonds; remaining bonds m ay only bo issued Tor betterm ents and Im prove
ments at 7 5% o f cost and for acquisitions o f additional securities o f sub
sidiary com panies under certain restrictions. Bonds are red. In whole but
not In part on N ov . 1 1919 or any Int. date thereafter at 105 and Int. on
6 weeks’ notice. T ax refund In Pa. See V . 89, p. 411; V. 92, p. 1033.
o f the $6,079,700 outstanding, $1,500,000 are printed In French anil are
payable, p. & 1„ In Franco. Thei debenture notes aro callable as a whole
at 101 and Int. V . 102, p . 1987. T he equipment leaso obligations aro
guaranteed, p. Sc I., b y the N . O. R y . & L t. C o . Subj. to call at 10244 and
77
Stock.— P ref. stock listed on N . Y ., N ew Orleans and Phlla. Stock E xch’ge
Bonus.— $209,000 coll, trust bonds In addition to am ount shown outstand
ing are held In treasurv. Remainder reserved for acquisition o f addi
tional property. Interest rate 5 % for first six years and 6 % per annum
for 7th and 8th years. Bonds are red. at par and Int. on any Int. date
$2,500,000 were retired b y lot at par and Int. on July l 1916. Stocks o f the
controlled cos. are deposited as collateral for tho bonds. V . 93, p . 285.
Dividends.— Seml-ann. d lv. o f 3 % paid on pref. stock from Jan. 1912
to a n d Inch Jan. 1915. In July 1915 on ly 144% was paid (V . 100, p. 2083).
In 1916, 3 % . Jan. 1917, 144% : none since. Y . 104. p . 2552.
E arn in g s o f A m e rica n C itie s C o . S vstem — 12 M os. e n d . D e c. 31.
O P E R A T IN G C O M P A N IE S .
Calendar
Cross
Expenses
N et
Interest,
Balance,
Year—
Earnings.
A Taxes.
Earnings.
D is c..A c.
Surplus.
1917----------- $16,670,444 S l l , 145,998 $5,524,446 $3,895,499 $1,628,947
1.916.............. 15.464.361
9,965,083
5.499,278
3,810,259
1,689,019
1915 .......... 14.145,442
9.121,734
5,023,708
3.657,198
1.366.510
H O L D IN G C O M P A N Y .
Total
Net (after
Bond
Pref.D iv.
Balance.
Incom e.
Taxes. A c .).
Interest.
( 3 % ).
Surplus.
1917----------$1,191,904
$895,295
$592,500
_________
$302,795
1916 -------1,418.923
1,165.696
527.500
616.605
21,591
O F F IC E R S .— Chairman o f B oard. John J. Gannon; Pres., Francis T .
H om er; V .-P ., E . G . C onnette, Lee Benoist; S ec.-T reas., Arthur L. Linn Jr.;
Asst. S ec.-T reas., C . B . M u rphy and M . D . Evans.— V . 106, p . 601, 1128,
(a)
H o u s to n L ig h tin g & P o w e r C o . (1905).— C ontrolled by the Ameri
can Cities C o .
O R G A N IZ A T IO N .— Incorp. In Texas Jan. 8 1906 and took over the
business o f tho (old) Houston Lighting & Power C o . Owns and operates
the entire municipal and com m ercial electric-lighting and power facilities
in H ouston, M agnolia Park and Harrisburg, T ex. Franchises perpetual.
S T O C K A N D B O N D S—
D ak.
Interest. Outstanding.
M aturity.
C om m on $2,000,000 ($ 100) . ......................... ...............■$2,000,000 ............ .........
First m ortgage $5,000,000/ 1911
5 g A-O
1.653.000 Apr 1 19 3 1
($1,000) g old -------- ---------c*\W hitney C en t.T r.& S .B k ..N ew OrL.T rustee.
Bonds.— Redeemable at 105 and int. at any Int. period on 30 d ays’ notice;
callable b y lot. Sinking fund o f 1% o f bonds outstanding began July 1 1915.
$458,000 in treasury.
E A R N IN G S .— For years ending D e c. 31:
Year—
C ross.
Net (aft.Taxes) Charges.
Surplus.
$402,817
$142,500
$260,317
1917 --------------------------------- $878,803
1916........................................ 788,769
358,706
135,467
223,239
— V . 103. p. 1891.
N EW Y O R K C IT Y , N. Y .
INTERBOROUGH RAPID TRAN SIT CO.— MANHATTAN RAIL
W AY.— See Railway and Industrial" Supplement.
NEW YORK RAILW AYS CO.— Underground trolley.
T he Interborough Consolidated C orp . owns $15,276,500 o f the stock.
O R G A N IZ A T IO N .— Incorporated on D ec. 29 1911, and at m idnight on
D ec. 31 1911 took over the lines o f the old M etropolitan Street R y . sold at
foreclosure (V . 93, p. 1787) on D ec. 29 1911, per plan In V . 93, p. 1533
(form ally approved b y Public Service Comm ission on Jan. 24 1912).
See V. 94. p. 977. T he sale did not include the leases o f the Central
Park N orth Sc East R iver R R ., 28th & 29th Sts., the Second A ve. R R . and
Fulton St. R R . T he latter road was abandoned in 1908 (V . 90, p . 1675).
In 1913-14 acquired a half-interest in the Bridge Operating C o ., which,
undor an agreement with the city dated M a y 21 1904. operates local cars
over the Wllliamsburgh Bridge. W ith the T hird A ve. R y . and the B rook
lyn R apid Transit C o. controls tho B rooklyn Sc N orth River R R .. operating
ovor M anhattan Bridge.
On N o v . 30 1914 the Public Service C om m , authorized the com pany
to purchase tho $600,000 capital stock o f the 23d Street R y . at $350 per
share and to issue first real estate & ref. 4s to pay for same. $507,500 o f
the stock has been so purchased. T h e authority was given on condition
that tho com pany shall provide for an am ortization o f 2 0 % o f the face value
o f the bonds, representing the discount on the bonds. During 1914-15
purchased at auction the $2,473,400 4 % first consol, bonds o f the Central
Orosstown R lt. held as collateral to that com pany's 5 % notes amounting
to $1,882,987 owned by the N . Y . Railways C o. This leaves a personal
claim In notes against the former o f $637,409 due the N . Y . Railways O o.
Has acquired 8,536 shares o f the stock o f the Bleecker St. Sc Fulton Ferry
R R . at $28 50 per share.
Franchises.— M ost o f the franchises are perpetual. In O ct. 1917 the co .
rejected a franchise drawn b y the city perm itting the operation o f a line
In.W . 86th St. V . 105. p. 1618.
Franchise Tax Decisions.— For decisions o f Supreme C ourt Justices
Dividends.— First quar. d lv. on pref. stock— 14*% — paid In Jan. 1906. M cC all and D avis, reducing the assessed valuation o f the special franchises
and same am ount quar. thenjafter to and Incl. July 1907; O ct. 1907.
In 1910 and 1911. see V. 95, p. 1473.
none to Jan. 1911, when 2 4$% was paid; A pril, 1 41% ; same rate quar. to a n d
Transfers.— In O ct. 1912 the P. S. C om m , issued an order (operative
Incl. O ct. 1917. Jan. 1918 d lv. om itted (V . 106, p. 86). On co m ., first D ec. 1) providing for transfers on a single 5-cent fare between the East
d iv ., 1 % . paid July 1912; in 1913, Jan ., H % ; Juno. 1 % ; in 1914. Jan ., 44% ; and W est Side lines o f the com pany and the Second A ve. R y .
A pril. 44% : June, 44% ; D ec. 1 % . In 1915. M arch, 44% ; D e c ., 44%
b y way o f the 59th St. line o f the Central Park N . & E . R Iv. R R .
In 1916, D o c ., 4 4% . N one since.
/0
’
/0 ’ i (now the Belt Line R y . C o rp ., part o f the Third Avenue sy ste m ), where the
passenger travels in the same general direction from which he started.
R E P O R T .— For calondar year (1917 roport in V . 106 p 1680)Calendar
Cross
Net (.after Other Interest, Preferred Com.
Balance 1 Order was voluntarily put into effect N o v . 1. V . 95, p . 1207.
Staten Island Transfers.— The arrangement m ade between the com pany
Year— Earnings. Tax.^Ac.) Incom e.
<
Sc.
Div.
D iv.
Surplus’ j
,
and the city for free transfers at the B attery to and from the ferryboats
1917____ 7,746,259 2,531.039 64,186 1,943.999 z37?,430
$
279*796 ' and the cars o f tho Now York Railways running to the B attery (see V. 99,
■
1916------ 7,200,740 2,559,157 68,391 1,907,195 1/496,148 aSO.OOO
174,205 i p. 49) was passed In July 1914 by the Board o f Estimate. N o re-transfers
a /L%* x &%%• f /o % .
X
perm itted and o f each nickel the city will get 2 cents and the com pany 3
Revenue passengers carried in 1917, 92,656,376; transfers, 25,383 561- in cents. The plan took effect Sept. 15 1914.
1916, revenuo, 87,680,288; transfers, 25,173,015.
^ o.oa u .oot, m I
Application to Charge for Transfers.— In M a y 1917 application was m ade
Gross oarnings in 1917 ($7,746,259), include $4,669,390 from railwav ! to tho P. S. C om m , for authority to chargo 2c. for transfers, without further
$1,618,553 from electric department and $1,458,316 from gas.
y ’ j charge for a re transfer. See V . 104, p . 2011, 2118, 2452, 2553. In M a y
R O A D .— Companies controlled operate 58.27 miles o f singlo track 72 84 i 1918 tho N ow Y ork P. S. C om m , adjourned tho hearings on this case,
miles o f doublo track fpid 14.57 miles o f sidings, & c.; total track 2 IX-59 , following tho decision in tho Rochester Faro Case (V . 106, p. 1461) in which
miles, lia s 692 cars. Rails 58 to 107-lb. T and girder. Gauges 4ft 1 it was hold that the Comm ission was w ithout power to grant increases in
844 in. and 5 ft. 244 in- Owns 3 power stations and 8 sub-stations,’ witli fares whero tho com panies were bound b y franchise obligations to a maxi
44,300 k. w. generating capacity. An additional 15,000 k. w. turbine was mum faro. V. 106, p. 1901. In reply to M ayor M itchoi's letter o f
1
M a y 25 1917, saying that if tho com panies had been sharing their profits
boing installed at tho central power house in April 1918.
with tho public in tho past their claims for increased faro m ight bo con
O F F IC E R S — Pros., D . D . Curran; V .-P .. R. M . Walmsley; Sec., Joseph 1 sidered m ore favorably. President Shonts stated that tho “ com pany was in
II. DeGrango; Treas., II. A . Ferrandou: A n d., C . B. M u rp hy.— V . 105 p ' a rocoptivo m ood toward any proposition contem plating a partnership with
499. 819, 1802; V. 106, p. 86, 925, 1037, 1577, 1680.
*
° ’ P ’ tho city whoroby tho service to the public m ay be protected and tho burdens
o f giving that servico equitably adjusted in tho public interest.”
AMERICAN CITIES COMPANY.— A holding company.
During 1913 and 1914 sterage battery cars were substituted for horse cars
O R G A N IZ A T IO N .— Incorporated In New Jorsey on June 21 1911 to on tho Chambers S t., Duane S t., Spring S t., Delaney St. and 6 th A ve. ferry
take over the entire stock holdings o f tho American Cities R y. & Light Oo : lines.
and at least two-thirds o f tho com m on and preferred stocks o f the Now Or
On Jan. 17 1916 tho P . S. Comm ission granted auth. to abandon the
leans R y . & Light C o ., per plan In V . 92, p. 1373, 1434. T ho United Gas & R oosevelt Ferry branch o f the Chambers St. lino. In July 1917 the
E lec. C orp. In 1913 purchased a m ajority o f tho com . stock o f tho American liorso-car operations on tho Bleecker St. lino o f the Bleecker St. & Fulton
Forry R R ., tho only remaining horse-car line in the city, was abandoned.
Cities C o. For terms, see United Gas Sc E lec. C orp. under "N e w Y o rk ”
In Jan. 1914 tho com pany agreed to abandon unused franchises form erly
and V 97. p 597. 952. 1202.
owned by the M etropolitan S t. R y ., and to rem ove the tracks and re-Dave
Companies Controlled.— T he following shows the com panies controlled
with the am ount o f stock outstanding In each case and tho proportion co n the streets. V . 98, j). 237.
Williamsburgh Bridge Connection.— Cars o f the old M etropolitan lines
trolled b y the American Cities C om pany.
began to run across the W illiamsburgh Bridge in Jan. 1905.
— P r e fe r r e d S tock —
— C om m on S t o c k Suit under Adjustment M tge.— The suit brought b y the N . Y . Life Ins.
T o ta l I s s u e d . O w n e d , O u ts ta n d in g . O w n ’ d.
C o. to recover unpaid Interest on the bonds since Jan. 1 1912 (approx. $50
for each $1,000 bond, incl. coupon due April 1 1915) was dismissed In
1915, but G . B . Leighton o f Boston, representing the bondholders’ com
m ittee, intervened (V . 100, p. 1349. 1918; V . 101, p. 1973). In N o v . 1915
tho Appellato D iv. o f the Supreme C ourt, reversing a lower cou rt, rendered
a decision giving M r. Leighton the full standing that the N . Y . Life Ins
Houston (T ex.) L tg.& P . C o . 1905
2,000.000 100%
C o. previously had in tho case. For com m ent on annual report for 1917 b y
John Chandler C obb on behalf o f the directors elected b y tho Adjustm ent
T o ta l...............................................$16,750,000
$32,450 000
J
Detailed statements for all the above companies will be found under the re M tgo. bondholders, see V. 105, p . 1309.
Application to Issue Additional Bonds.— In June 1912 applied to the P ublic
spective cities in this publication e x c e p t the Houston Lighting & Power Co
whose return is given below.
’ ’ Serv. C om m , for permission to issue $754,000 1st real estate and ref. 4s to
refund M etropolitan Crosstown 5s. V . 94, p. 1627. Still pending.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding
Maturitu
On N o v . 1 1912 tho P. S. C om m , authorized the Issuance or $640,0(X) real
C om m on $25,000,000 ($100)........................................$16,264,700
M aturity.
estate and ref. bonds (permission to issue $1,050,000 having been asked) to
Pref $35,000,000 ($ 100) 6 % ( - - - - ¥ J-J
,
20,553.500
s Y e 't « Y "
purchase now stepless cars. V . 95, p. 1207. N one o f these bonds Is In
(R od . at 110 and accumulated dividends
cum from July l 1911.........
cluded In tho am ount in the table. Justice Greenbaum in the N . Y . Su
Coll tr mtge $11,000,000 gold 1911
5-6 g J-J
7.500,000 July 1 1919
preme C ourt In June 1914 granted a writ o f certiorari to review the order
($100 and $1,000)............c*\ ln t. In Now Y ork or New Orleans.
o f tho P . S. C om m , authorizing only $640,000 bonds. V . 98. p . 1994.
1-ycar deb notes (e x to n d o d ).. 1916
6%
3,000,000 July 1 1918
M atter is still pending.
ELECTRIC RAILWAYS
78
Final Distribution to Metropolitan St. Ry. Shareholders.— V . 103, p . 1980.
Payment o f M et. St. fly. Gen. & Coll. Tr. M . Bonds.— V . 106. p . 1344.
F or distribution o f sum received b y this co. from the settlement o f tho
M etropolitan St. R y . receivership, see V . 105, p. 2272.
Guaranty D ecision.— In M a y 1917 the U . S. Supremo C ourt affirmed the
decision o f U . S. D istrict Judge Hough, o f N ow Y ork, dismissing the action
brought b y the bondholders’ com m ittee o f tho old 28th & 2Jth Streets B H .
(property foreclosed and now known as M id-Orosstow n R y .) against the
N ow Y ork R ys. C o. on tho ground that the Federal C ourts had no jurisdiotlon . The suit will bo carried into the State courts. V . 104, p. 2118.
Strike.— A strike was begun on the Yonkers Street R R . on July 22 1916
and was extended on July 29 to tho Third Avenue R y . and on A ug. 4 to the
N ow Y ork Railways and all other surfaco linos in Greater N ow Y ork , except
the B rooklyn lines. The strike was form ally declared o ff on A ug. 7 1916
(for terms o f settlem ent, see V . 103, p. 579), but on Sept. 6 the N ew Y ork
R y s . men again walked out follow ing tho calling or a strike on the subway
and elevated lines o f the Interborough R apid Transit C o. and on Sept. 9
the men o f the Second and Third A vo. lines follow ed suit. On Sept. 19
1916 the men or the N . Y . & Queens C o. R y . also went on strike for the sec
ond tim e. Service on the surface lines was badly crippled for somo timo
but began to assume normal proportions in D ec. 1916.
Fares.— For application for faro increase b y traction interests o f N . Y .
Stato, see “ B rooklyn R apid Transit C o .”
Date.
Interest. Outstanding.
Maturity.
STO C K A N D BON DS—
.$17,495,060
Stock $17,500,000 ( $ 1 0 0 ) ...
1st real est & ref m tge golui rji<s
< j -j
±
„
(s e e te x t)__________ c*& r*tf\G uaranty Trust C o .. N ew Y ork . Trustee.
AdJusTVnc°M r$33.0OCf.O05~ g ? 1 912
1 1 -0
30.626;977 / a n 'V I 9 4 2
non-cum (bco text)c*& r*tf \Farmers Loan & T rust Go.* N . Y . , Trustee.
First real estate & ref. and adjustment income coupon bonds are In denom .
o f $1,000; registered bonds are for $1,000. $5,000 or $10,000. Int. on both
Issues payable at office or com pany or its agency In N ow Y ork C ity.
aLoxlngton A ve & P avonlal 1893
5 g M -S
5,000,000 Sopt 1 1993
Ferry 1st M g o ld ..c*& rn tf\ ln terest at office o f com pany in N ow Y o rk .
aOoiumbus & N inth A ven u e/ 1893 5 g M -S
3.000,000 Sept 1 1993
first m ortgage gold .c& rn tflG u a ra n ty Trust C o .. N . Y . O lt y , Trustee.
oSo F y 1st g u $350.000($1.000) 1889 5 A-O
, ^50.000
} um i
B roadway Surf R R first m t g o . -----5 J-J
1,500,000 July 11924
Bills payable M a y 1 1918............................... ............... »1 .802.454 — ...................
C o m p a n y s e p a r a te ly o p e r a te d —
a34th St. Orosstown first intge 1896
. . „
5 A-O
. „„„ . . .
.
„,
1,000,000 April 1 1996
Broadway & ft h A ve con m tge 1893
6 g J-D
*8,150,000 D ec 1 1943
Bleocker St & Ful Fy first m tge 1870
4 J-J
700,000 Jan 11950
Christopher & 10th Sts 1st M . 1898
4 A -O
210.000 O ct 1 1918
•Eighth A ve certs o f lndebt— 1914
6 F-A
159
aOentral Orosstown first m tge 1882
6 M -N
250,000 N o v 1 1922
T w enty-third St R R m tge____ 1912
6%
1,500,000 Jan 1 1962
a In t. on those bonds paid at office o f com p a n y , 165 B roadway . N . Y . O .
• Interest on the $760,000 certificates o f indebtedness o f the Eighth A ve.
R R . Is paid out or the $215,000 rental which the N ow Y ork R ys. pays the
Eighth A ve. R R . x There are also outstanding $1,500,000 B w ay. & 7th
A v e .. R R . 1st M 5s which fell due in 1904 and are all held b y N ew Y ork R ys.
y Issued to purchase M etropolitan Crosstown R y . 5s, $602,454, and to p ro
vide funds for the maintenance o f working capital and resorve, 51,200,000.
First real esta te a n d r e fu n d in g m ta e . Is not lim ited as to am ount o f auth
tsaue, but furthor bonds m ay bo issued to refund or acquire underlying
bonds, subsidiary bonds and other bonds, any obligations secured upon
m ortgaged or leased properties; to acquire securities o f other com panies t*
be pledged undor m tge. and for a d d ’ns, exten’s and lm pts. See purposes
for furthor Issue in full in V . 94, p . 977. R ed. on any Int. dato on 12 wooks
notice, at 105 and int. Seo V . 94, p . 977. Bonds are listed on N . Y . Stock
“
i . o n 'ln tim e B o n r fK iH t k d d iv .’ o t s h l (0.771 % ) paid O ct. 1 1912
g l ^ ^ W
V
W
r b ^
$12^88^ Q .2 8 8 % )!
$17 69 (1 ^ 6 9 % ); O ct°. $13 70 (1 .3 7 % ). In 1916 A pril. $31 94 (3 .1 9 4 % ).
O c t., $19 81 (1 .9 8 1 % ). N ono since. See V . 106, p. 929.
L e x in g t o n Ave. & P a t o n i a F e r r y 5 s a n d C o lu m b u s < N in t h A v e . 5s were
%
fully described in V . 00, p . 1146. B oth wore guar, and later assumed by
the M etropolitan Street R y . C o . (now N ew Y ork R ailw ays).
A m o r t iz a ti o n F u n d .— On D ec. 10 1912 P . S. Comm ission m odified Its
order or F eb. 27 1912 (see V . 94, P- 698) by striking out the provisions,
reauirlng the setting aside each year o f a specified am ount as an am ortisa
tion fun d, as It found it did not have power to m ake such requirem ent. It
re-afflrm ed, how ever. Its ordor requiring the setting aside each m onth,
beginning Jan. 1 1912, for maintenance and depreciation o f a sum at least
equal to 20% or gross operating revenue for such m onth. V. 95. P. 1008:
V . 94, p. 698. On Jan. 18 1918 tho Appellato Division o f tho Supremo
C ourt dismissed the writ o f certiorari granted b y Supremo C ourt Justice
Platzek o n ’ April 17 1913 to roviow the order. V . 106, p . 396. A n appli
cation for a m odification o f tho ordor so that it should provido for tho sotting
aside or 2 0% o f rne gross p<ibsoi » revonue only instead o f 20% or the gross
o f ZUYo oi the
passenger
« T T 1 i.
xr
..
V
operating ______... was Hnninrl Ktr flln D Q fl om m , G 1 -T 11V 27 191*>. V..
revenue
denied b y tho P. S. C r»mT» on July A7 1U1
101, p. 370.
^Adjustment incom e Mortgages &re rouoom auij uu any — u. 1 or July 1 In
A A % tm m t Income oxuriyuyes are r^ oem a b le on
Jan. .
whole but not in part at par and Int. Holders o f adjust, m tgo. bonds
shall have the pow er, b y v ote o f a m ajority thereof, to elect one less than a
m ajority o f the members or the board o f directors until the full 5 % per ann.
shall have been paid to holders annually for 3 successive yoars. and again
thereafter, during a like period , whenever a failure to pay such annual int.
shall occur. During such periods, also, the holders o f said bonds shall have
full power in respect o f all other questions, upon which stockholders m ay
v o te ?to cast one vote for each $100 o f tho principal o f the bonds held by th<an.
V . 94* p . 977. Bonds are listed on N . Y . Stock E xch . V . 94. p.827* 977.
R E P O R T .— F or fiscal years (1917 r e y o r U n V . iOo^p^ 1306): 1Q15_14
KSSe
Fr<M t r a n s f o 's - ^ : : " ........................... 85,088,109 108.521.893 109,943,330
T otal passengers..................................314.027.792 383.303,084 376.270.437
Gross earnings
$ lo,714,531 ♦1o .o J.LYo7
Operating exponsos__________________
7,868,810
8,374,079
8 ,5 o l .4 3 N et earnings - - - - - - - - - - - - - - - - - - $3,625,299 $5,340,452 $4,848,335
no*
................. ___________ ___________________________
1,032.012
1,038,122
1,042,859
Taxes w m m p
Operating incom e.............. - ...............*2 2 ? ’ln n
Other incom e________________________ V4 ’« 647,600
Gross incom e........................................ S3.240.887
i n ^ o n underlying bonds, rents, & c „ $2,666,052
Int. on 1st real estate & ref. bon d s—
722,888
Int. on adjust, m tge. Income b o n d s ..
----------
’ oro
567 *86 J
$4,870,199
$2,707,883
<22,609
1.584,94b
*3 527,212
,K97’942
$4,332,718
$2,741,015
691,o38
9 b l,d o t
T otal ................................................... $3,388,940 $5,015,438 $4,393,934
Deficit for year---------------------------------$148,053
$145,239
$61,216
T otal deficit June 30 1917 as per balance sheot, $1,144,732.
Latest Earnings.— For 9 m os. end. M ar. 31:
.
_
* ’ ,
Gross.
N et.
Olh. In c. Int.,T axes.& c. Balance.
1918.................. $8,984,526 $2,839,050 $455,425 $2,758,647
5535,828
1917.................. 8,356,206
2,367,141
479,087
2,768,334
77,894
R O A D .— On D ec. 31 1917 owned 42.782 miles o f track, o f which 29.590
niles are underground electric and 13.192 miles storage electric; leased
19.429 miles (92.944 underground electric and 6,485 storage electric); oper
ates under agroomont 11.384 miles (11.096 underground electric and 0.288
storage electric); total track. 153.595 (133.630 underground electric and
19.965 storage electric). Owned and controlled, 2,215 passenger (1,945
iiectric, 103 storago battory and 167 horse), and 176 service (143 electric
ind 33 horse); total, all cars, 2,391. M ain power station equipped with
slevon 3,500 k. w . gonorating units and 5 sub-stations and distributing
systems, including 1.615 miles o f single-power transmission ducts.
O F F IC E R S .— P res.. T heodoro P . Shonts; A sst, to P res.. W . Loon P opaerman; V .-P . & G en. M g r.. Frank H odley; V .-P ., D . W . Ross; S ec.. H .
M . Fisher; T rea s.. J. H . Cam pbell; Counsel. R ichard R eid R ogers; G en.
a ttorn ey. J. L . Quackenbush; A u d .. E . F. J. G aynor. G en. offices, 165
Broadway, N . Y .— V. 105, p. 73, 499. 819, 1306, 1309. 1522, 16181 2272.
,
2305: V . 106. p . 396, 929, 1901.
[Vol. 106.
C o m p a n ie s C o n t r o lle d b y N ew Y o r k R a ilw a y s.
(1) B le e ck e r S tr e e t & F u lto n Ferry R R .— H orse and eloctrlc.
T ho N ow Y ork Railways owns 8,519 sharos o f tho com p any’s stock.
O R G A N IZ A T IO N .— Chartered D ec. 12 1864. Leased to 23d Street
Railway C o . Jan. 10 1876 for 99 years; Ieaso assigned to M etropolitan Street
R y . (now N ow Y ork R y s .). Rental is interest on $700,000 bond s, 1*5%
per annum on stock, taxes and corporate expenses o f $600.
In D oc. 1917 tho N . Y . P. 8. C om m . auth. tho abandonm ent o f horse-car
operations on tho Bleocker St. line, tho only remaining horso car lino in
N ew Y ork C ity, over which tho last horse car was run July 2b 1917.
STOCK A N D BONDS—
Par. Interest.
Outstanding.
M aturity.
1>3% J-J
$900,000
Seo text.
Stock .................. - ....................... $100
1st M gold , were form erly 7s,T 1,000 4 g J-J
700,000
1 1050
extended in 1900 as 4s _ n tf IGuaranty Trust C o ., N ew \ o r k . Trustee.
O f the $900,000 stock outstanding. $853,600 is owned b y the N . Y .
Railways C o.
R O A D .— Owns 5.25 miles o f track.— V . 90, p . 913; V . 104, p . 1700,
1898. 2450; V . 105, p . 72, 496. 1522. 2364.
(2) B ro a d w a y & S e v e n th A v e n u e .— Change to underground electric
occurred in A ug. 1901.
O R G A N IZ A T IO N .— Chartered M a y 26 1864. Leased M a y 13 1890 for
nnexplred term o f ch arter,and for any extensions o f the s a m o .to Houston
W est St. & P avonia Ferry, now N ew Y ork R ailw ays. Franchises perpetual.
R E N T A L .— Interest on bonds and 10% on $2,100,000 stock , o f which
N ew Y ork R ys. owns $1,400,200, besides taxes and corp. expenses.
STOCK AN D BONDS—
Par. Interest.
Outstanding.
Maturity.
Stock $2,100,000 ($ 10 0 )----------$100
10 Q-J
$2,100,000
See text
1st M (all held b y N Y R ys)
____
5%
1,500,000
1904
Broad way Surface first guar I I 1,000
5 /-J
1.500.000 July 1 1924
South Ferry first gu aran teed .. 1,000
5 A -O
£4,r }
Bway & 7th A ve cons ratgej 1,000
5 g J-D
8.150.000 D oc 1 1943
o f 1893 for $ 1 2 .5 0 0 .0 0 0 -n tflin t, at Guaranty T rast G o ., N . Y . . Trustee.
O f the consolidated mortgage ot 1893 for $12,500,000, $3,350,000 Is re
reserved to retire at m aturity the other (Kinds In tho table.
1 he Broadway
Surfaco 2d m tge. bonds, due in 1905 (all hold by the N ow Y ork R ys. C o .)
were canceled in 1914. T he consuls were guaranteed, principal and Inter
est. undor tho terms o f the m tge. by M etrop . Street R y . C o ., slnco fore
closed. T hey cover the road owned In feo and also the right to use the
tracks on Broadway from 15th St. to the B attery; they are also a direct lien
on tho cable (since changed to e lectricity), & c. Closed Issue except for
refunding purposes.
„
,
_ .
, .
.
. T he B w ay. A 7th A ve. assumed the Broadway Surface 1st M . bonds for
$1,600,000 and paym ent or Int. on the 2d M . bonds for $1,000,000 (now
retired) for use or tracks between 15th St. and tho ferry. South Ferry 6s
assumed undor loase.
R O A D .— Comprises 10.31 miles o f track.— V . 101, p. 212; V . 106, p. 497.
(3) C e n tra l C ro ss to w n R R .— E lectric.
O R G A N IZ A T IO N .— Chartered M arch 28 1873. April 26 1890 leased the
Christopher < Tenth Street R R .; see separate statement or latter.
&
W as originally loased for 999 yoars from Fob. 8 1904 to M o t. St. R y.
Lease was rejected b y tho N . Y . R ys. C o ., which Is now operating tho p ro p
erty under a temporary arrangement ponding reorganization.
During 1914-15 tho N . Y . R ys. C o. purchased the $2,473,400 4 % 1st
cons, bonds o f this co . held as coll, for Its $1,882,987 6 % notes owned by
the N . Y . R ys. C o . This leaves a personat claim In notes against the co .
o f $637,409. due the N . Y . R ys. C o . $35,100 o f tho $600,000 capital stock
Is also owned b y the N . Y . R ys. C o .
.
,
On D ec. 6 1917 tho G uaranty Trust C o ., as trustee, filed suit to foreclose
tho $3,000,000 m ortgage securing the paym ont o f tho 1st cons. 4 % bonds
dated 1902 and duo M a y 1 1952. Interest since N o v . 1 1909. it is alleged,
is in default.
,
„
_
.
, . ,
On M a y 17 1918 Justice Grcenbaum in tho Supremo C ourt appointed
L yttloton F ox reforeo to sell tho proporty as a result o f this action.
On June 18 1913 the P . S. Comm ission approvod application to abandon
a portion o f Its route (on 17th and 18th Sts.) form erly operated by horsecars. Soe V . 95. p. 1772.
B O N D S __
Date.
Interest. Outstanding.
Maturity.
( 1882
6 M -N
$250,000 N o v 11922
First m ortgage ($ l,0 0 0 )c „ t f \Interest at G uaranty Trust C o ., N ew York;
( American Loan & Trust C o .. Trustee.
N otes 0 % (held b y N Y R ys C o )----------- — ■
—
637,409
-------R O A D .— Owns 0.8 mile o f eloctrlc track; leases from Christopher &
Tenth Sts. R R . 4.15 miles. T otal track, 4.23 miles.— V. 101, p . 1369.
(a) C h r is to p h e r & T e n t h S tr e e ts R R .— E lectric.
O R G A N IZ A T IO N .— Chartered April 25 1873. Leased to Central Orosotown April 26 1890 for unexplred term o f its charter at 8 % on stock, Int.
on bonds, taxes, & c., and not more than $1,500 per ann. for organization e x p .
S T O C K A N D BON DS—
Par.
Interest. Outstanding.
M aturity.
Stobk ( $ 1 0 0 ) . - - - - - - ................ $100 8 Q-J
$050,000
Seo text.
First m ortgage extended In? 1,000 4 A -O
210,000 O ct 1 1918
1898 (V . 67, p . 370)___n tf(G u a ra n ty Trust C o .. N ew Y ork , Trustee.
R O A D .— Track owned is 4.15 miles.— V . 67, p. 370; V . 106, p. 498.
(4) E ig h th A v e n u e R R .— Underground trolley road.
O R G A N IZ A T IO N .— Chartered Jan. 10 1855. R oad wa3 leased1to M e t.
St. R y .. now N . Y . R y s., for 99 yrs. from N ov. 23 1895 at rental o f $215,000
per annum, which provides for Interost on tho scrip and 16% dividends on
stock, besides all taxes. Underground electric traction aystom used be
tween 158th St. and Batteiw Place. V . 07, p . 178, 950.
On N o v . 28 1913 tho P . S. C om m , authorized the Issuance o f $750,000
6 % 5-yoar certificates, dated Fob. 1 1914, replacing tho same am ount of
certificates Issued In 1884 and due Feb. 1 1914.
STO C K A N D BON DS—
Par.
Interest. Outstanding.
M aturity.
Stock
............. - ................. $100
Quar.
$1,000,000
Seo text.
Scrip o f"l9 1 4 ...............................
100 6 F-A
750.000
F eb 1919
Scrip o f 1914 replaces same am ount o f scrip o f 1884 which fell due F eb. 1
1914. R od. any Int. da y. V . 97, p . 1503.
R O A D .— T otal track owned and operated, 18.822 miles.— V . 106, p. 499
( 5 ) F o rt Q e o r g e & E lev en th A ve. R R . — U nderground-trolloy.
O R G A N IZ A T IO N .— Incorporated N o v . 19 1898 In tho Interest o f the
M et. St. R y . (now N . Y . R ys.) to build a lino from 130th S t. and 11th A ve.
along 11th A ve. to 175th St. and anothor from 145th St. and 11th A ve.
easterly through 145th St. to the Harlem R iver. Has constructed 2.00 m .
projected on Broadway and Is operating 1.69 m . o f track on 145th St. between
Lenox A ve. and B roadw ay. Stock auth., $3,000,000. aH owned b y the
New York R ys. V . 67, p. 1109. Franchise granted D ec. 1889 for 25 yrs.,
with privilege o f renewal for another 25 years, 4 % gross receipts to be paid
the first 5 years. 6% the second 5 years, 8 % tho third 5 yoars and 10% the
remaining years o f operation. T ho road to becom e tho property o f the city
at tho termination o f franchise (whether original or renewed) upon payment
for the same in accordance with definitely prescribed rulos.
(6) F o rty -S e co n d S t. & d r a n d S t. F erry R R .— Horse and electric.
O R G A N IZ A T IO N .— Chartered F ob. 16 1803. Loased to M e t. St. R y.
C o ., now N . Y . R y s .. from April 0 1893 for duration o f charter and renewals
thereof, at 18% on stock, all taxes and corporate expenses. Stock. $748,000
($100), o f whidh $400,000 is owned bv N . Y . R ys. 1st M . 0 % bonds (due
1909) o f 42d St. & Grand St. Ferry R R .. form erly deposited under M et. St.
R y . ref. m tge.. have been canceled.
R O A D .— Owns 5.77 miles o f track.— V . 89, p . 993; V . 106. p. 499.
(7) N ew Y o rk & H arlem R R .— Underground electric railroad.
O R G A N IZ A T IO N .— Chartered April 25 1831. Owns also a steam road
leased to N ew Y ork C entral, Its securities, which cover tho electric roads as
well as the steam line, being described under the title N ew Y ork & Harlem
among steam railroads In our "R a ilw a y and Industrial’ Section.
T h e electric (form erly horse) linos (18.9 miles o f track) were leased to
the M e t. St. I ly .. now New York R y s ., for 999 years fm m Juno 111890 for a
rental o f $350,000 per annum the first five years and $400,000 per annum
thereafter, which Is equal to 4 % on the $10,000,000 stock, besides all taxes
and $2,600 for organization exponsos. V . 02. p. 1088.
On Jan. 23 1911 a d iv. o f 7 % was paid, covering In full dlvs. withheld
from 1909 to 1911 out o f street railway rental, owing to franchise tax liti
gation (now settled). V . 94. p. 124: V. 93, p. 731: y . 9 1 , D. 717. Line
operatod olectrically from M arch 1898 from C ity 1tall to i35th Street.—
V . 94, p. 768, 1057; V . 95. p. 47, 1040; V . 96, p. 1424; V . 106, p . 499.
Ma y , 1918. j
ELECTRIC RAILWAYS
79
(8) Ninth Avenue RR.— An electric railroad.
w h ic h it w as h e ld t h a t th e C o m m , w as w ith o u t p o w e r t o g ran t increases In
O R G A N I Z A T I O N . — Chartered July 29 1859. The road was leased to fa res w h e re th e c o s . w ere b o u n d b y fra n ch ises t o a m a x im u m fa re .
the Met. St. Ry.. now N e w York Rys., for 99 years from March 12 1892.
.— Seo N e w Y o r k R y s C o . a b o v e a n d V . 103. p . 2 0 7 9 , 2 4 2 9 .
Rental.— For first five years, $48,000, which I equal to 6 % on capital stock
s
STOCK A N D BONDS—
<800,000). and thereafter $64,000— 8 % — on the same, besides taxes, $2,500
------- .................
$ 1 6 ,5 9 0 ,0 0 0
See text
for organization expenses. Stock. $800,000; par, $100; dividends Q.-J. 3d A t
1st M g ( $ l,0 0 0 ) _ t f /1 8 8 7
5 g J-J
5 .0 0 0 ,0 0 0 J u ly 1 1 9 3 7
Road, Fulton St. to 126th St., total track owned and operated 15.75miles.
x
.
j .............. ........ ...
( l n t . a t F a rm e rs ' L o a n
T r . C o ., N . Y .
— V. 100, p. 499.
F irst re fu n d M $ 4 0 ,0 0 0 ,0 0 0 /
1911 4 J -J
2 1,9 9 0 .5 0 0 Jan 1 1 9 6 0
(9) Sixth Avenue RR.— Underground trolley.
g o ld (see t e x t ) -------c*< kr*tf 1ln t . a t C e n tra l T r . C o . , N e w Y o r k , T ru s te e .
O R G A N I Z A T I O N . — -Leased to Met. St. Ry., now N e w York Rys., A d ju s t in c m tg e $ 2 2 ,5 3 6 ,0 0 0 /
1911 5 A -O
2 2 ,5 3 6 ,0 0 0 J an 1 1960
Feb. 11892 for 800years. Rental $145,000perann.,which I 734% on stock
s
g o ld (see t e x t ) -------c * & r * t f ( I n t . a t U . S . M t g e . & T r . C o . , N . Y . , T ru s .
besides all taxes. Stock, $2,000,000; par $100. A n extra dividend of 38%
S to c k a n d b o n d s a ll liste d o n N . Y . S to c k E x c h a n g e .
was paid In Aug. 1901 out of procoods of salo of stablo proporty at Sixth
.— C o u p o n b o n d s o f b o th Issues are in d e n o m . $ 500 a n d $ 1 ,0 0 0 .
Ave. and 43d St. Road, Including Lenox Ave. branch (track operated). registered b o n d s are fo r $ 500 a n d $ 1 ,0 0 0 o r m u ltip le s o f $ 1 ,0 0 0 . O f the
12.14 miles. In Fob. 1899 began operating underground trolley a l the 1st r e f. b o n d s , $ 1 0 ,0 7 1 ,5 0 0 are re se rv e d fo r u n d e rly in g b o n d s and re
l
way to Battery Place.— V. 88, p. 946; V. 106, p. 500, 822.
m a in d e r fo r fu tu r e e xten sion s a n d Im p r o v e m e n ts, u n d e r p ro p e r re s trictio n s.
O f th e b o n d s r e p o r te d o u ts ta n d in g , $ 2 ,5 2 0 ,5 0 0 a re in th e d e p r e c ia tio n and
(10) Thirty-Fourth Street Crosstown Ry.— Underground electric.
O R G A N I Z A T I O N . — Chartered March 18 1896, being a consolidation of c o n tin g e n c y fu n d a t th e d isp o s a l o f th e c o m p a n y . R e d e e m a b le o n a n y
the 34th Street Railroad Co. and the 34th Street Ferry Sc Eleventh Avenuo ln t. d a te a t 105 a n d ln t. o n 3 m o t .’ n o t ic e . See V . 94, p . 7 06 . I n t . o n
Railroad Company. Entire stock of the 34th Street Crosstown Railway in co m e b o n d s is c u m . a fte r D o c . 31 1912. I n c . b o n d s are re d . as a w h ole
Co. I owned by the N e w York Rys. Operated under agreement dated b u t n o t in p a rt on 1st d a y o f a n y m o n th o n 3 m o s .’ n o tic e a t p a r a n d Int.
s
$ 32 0 ,0 0 0 h a v e been p u rch a se d b y th o c o m p a n y .
V . 102, p . 8 8 7 . A d ju s t,
Dec. 21 1896, guaranteeing principal and Interest of the bonds.
in c . m tg e . h o ld e rs t o h a v e fu ll v o t in g po w e rs u n til fu ll I n t., in clu d in g
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
a c c u m ., shall h a v e been p a id fo r f i v e s u cce s siv e y e a rs . See V . 9 4 , p . 706.
Stock ($100) . ............. ............. $1,000,000 _____ ____
.— A n initial d iv id e n d o f 1 3 4 % o n th e a d ju s t ,
First mortgage ($1,000) guar/ 1896
5 A-O
1,000.000 April 1 1996
in c . b o n d s w as p a id A p r il 1 1913 fo r th e 6 m o s . e n d . D e c . 31 1912.
V. 96,
prln & lnt by N Y Rys.ntf IContral Trust Co., N e w York. Trustee.
p . 136.
R e gu la r sem i-a n n u al d iv s . o f 2 J 4 % e a ch w ere p a id t o a n d in cl.
R O A D . — Track owned I 1.66 miles. V. 62, p. 549; V. 71. p. 135.
s
A P , r - I n O c t. 1917 p a id 1)4.% . A p r . 1918 in t. p a ss e d . V . 106, p . 9 30 .
(11) Twenty-Third Street Ry.— Underground trolley.
.— InitialI q u a r. d iv . o f 1 % was p a id J a n . 1 1916.
O R G A N I Z A T I O N . — Chartered Juno 29 1872. Leasod from Apr. 25 1893 A p ril, 1 % ; J u ly , 1 % ; O c t ., 1 % . T h e J a n . 1917 d i r . w as o m itte d on a c
to the Met. St. Ry. Co. (now N. Y. Rys.) for the unexplrod term of the c o u n t o f th o s trik e in 1916. V . 103, p . 2 07 9 . N o n e sin ce.
ROAD—
charter and for any extensions of the samo. Rontal I 18% on stock, all
s
„
taxes, assessments, wator rents and charges. The N o w York Rys. owns all T h ir d A v e n u e R y . C o _______ 2 7.1 88 B ro u x T r a c t io n C o ___________ 2 2 .9 3 8
of tho debentures duo 1906, all of the 1st M . bonds duo 1909 and $507,500 K ln g sb rid g o R y . C o . ................ 7 .1 5 0 N . Y . C it y I n te r b o r o . R y . C o . 3 7 .3 3 4
of the $600,000 stock, for which I gave $350 of I s own 1st real ost. & re . 42d S t. M . & S t. N . A v e . R y . 2 0.291 S ou th ern B o u le v a r d R R ____ 10.0 67
t
t
f
D r y D o c k E . B . & B . R R . . 1 9.158 W e stch e ste r E le c . R R _______ 4 0 .5 8 6
48 due July 1 1942 for each $100 of stock.
B eit L in e R y . C o r p ___________ 2-1.596 Y o n k e rs R R __________________ 4 4 .0 0 3
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
T h ir d A v e . B rid g e C o _______
3.631 N . Y . W e s t. & C o n n . T r a c . _
Stock ($100)..................
18Q-F
$600,000 18% per an.
5 .5 7 5
5.254 P e lh a m P a r k * C it y 1st. R y .
First mortgage $250,000.... 1896
6 J-J
250,000 Jan 1 1909 M ld -G r o s s to w n R y . C o _____
3 .2 8 6
U n ion R y . C o . o f N . Y . C it y 9 6.5 02
6 J-J
150,000 Jan 11906
Debentures ($1,000)....... 1886
T o tjil
ofl"»
Impt & ref. mtge $1,500,000/ 1912
5 g J-J
1.500,000 Jan 1 1962
($1,000) gold guar_____c*(Bankers’Trust Co.. N. Y., Trustee.
C A R S .— O w ns 1 ,1 3 4 ; co n tr o ls 563; to ta l, 1 ,6 9 7 'ca rs .
'
’
B o n d s . The lmpt. & ror. mtge. bonds are guar. p. & 1 by tho N. Y .Rys. Co.
.
R E P O R T .— Y e a rs e n d . Ju n e 30 (1916-17 r e p o rt in V . 105, p . 1 51 5 ,1 5 3 2)
and are rod. in whole or In part at the option of the company or for the sink,
1916-17.
1915-16:
1916-17.
1915-16.
fund on any lnt. dato at 107 and ln . on 4 weeks’notice. S in k in g f u n d of
t
$
$
$
$
$1,102.85. payable semi-annually, with accretions; when $400,000 bonds T o t a l o p . r e v . 8 ,9 7 2 ,6 4 8 11,1 36 ,3 7 0 In te re s t r e v . .
164,925
157,870
shall have boon acquired they shall be canceled. Tax-exempt In N. Y.
T o t a l o p . e x p . 7 ,2 8 7 ,8 4 0 6 ,8 0 8 ,1 9 4 G ross re v e n u e 1,0 5 5,28 3
3 ,6 3 7 ,9 2 4
R O A D . — Including 14th St., Bleocker St. and Canal St. branches, track
In te re s t, re n ts,
N e t o p . r e v _ $ l ,6 8 4 ,8 08 $ 4 ,3 2 8 ,1 7 6
owned, 4.21 miles. Rails, 47 to 113 l s , standard gauge.— V. 99. p. 1367,
b.
& c ............... .. 2 ,6 7 7 ,6 1 0
2 ,6 4 6.85 1
T a x e s ------------- ___________________D 4v s ....................................... ( 1 % ) 1 6 5 , 9 0 0 ( 3 ) 4 9 7 , 7 0 0
7 9 4 ,45 0
8 i 8 ,12 2
1675; V. 100, p. 2011. 2168; V. 106, p. 500.
S e&
trik, c
R
R
Dle In ret. Ots nin. Mtu .
a . te s u tad g a rity
S
c
Bns
od
Didnso Ino eBns
iv e d n cm o d
Didns o S c
iv e d n tok
Oea d
pr te.
Ms
ile
M.
ile
‘
S E C O N D A V E N U O RR.— Underground electric.
Opor. inc.. 890,358 3,480,054
Sur. or def.df1,788,227 sr.493.373
L a test le a r n in g s . — F o r 9 m o s . e n d i n g M a r . 3 1 :
R e c e iv e r s h ip . In Sept. 1908 Justice Blschoff In Supreme Court appointed
—
G ross.
N e t ,a fte r T a x e s . O th .I n c . D e d u c tio n s .
S u r p lu s .
George VY. Llnch separate receiver In suit by Guaranty Trust Co. to ford- 0 M o n t h s —
close consolidated mortgage. At midnight on Nov. 12 1908 receiver 1917-18--- $7,654,713 SI,542,539 $118,540 $1,996,600 defS335,521
took possession of tho property.
A. E. ICalbach i now recolveer 1 9 X % 4 .7r H - * n # ’ 2 4 ,5. ' 7 2 7 o , 4J G -7 1 5
s
1 3 0 ,5 7 5
1 ,9 9 2 .2 6 8
d e f l ,4 4 4 ,9 4 8
O F I* I O E R S . — P r e s ., S l a u g h t e r W . H u f f ; V . - P r o s . , E d w a r d A . M a h e r J r .;
Dlv. on stock duo Juno 1908 was dofaultod. Default of lnt. on
bonds occurrod as follows: 1st (gen.) Mtge., Nov. 1 1908 (subse S e c . , S h e l t o n E . M a r t i n ; T r e a s ., A . D . S a g o ; A u d . , R e u n o M a r t i n .
quently retired; V. 91. p. 1255); f r t consols, Aug. 1 1908; debentures,
is
D I R E C T O R S . — A d r ia n I s e lln . H a r r y B r o n n e r , G e o r g e W . D a v i s o n ,
July 1 1908. A committee was formed to protect tho Interests of the F r o d o r ic k I I . S h i p m a n , W . E m l e n R o o s e v e l t , J o h n W . l ’ l a t t e n . S l a u g h t e r
f r t consol. 5 % bds. V. 87. p. 347, 1238. O n Oct. 1 1910 Justice Amend W . H u f f , J o s o p h H . S e a m a n , E . A . M a n i c e , E d w a r d A . M a h e r , L i o n e l F .
is
in Supremo Court authorized rocoivor to Issue $2,500,000 receiver’ cortfs, S t r a u s , E d w a r d M . B u r g h a r d a n d A l e x a n d e r F . W e b b . — V . 1 0 5 , p . 1515
s
to be used to retire $1,280,000 gen. consol. 5s and $560,000 receiver’ ctfs. 1532, 2 0 9 5 , 2 1 8 5 ; V. 1 0 6 , p . 7 1 6 , 8 2 3 , 9 3 0 , 1 4 6 2 .
s
due Oct. 1 1910, and for franchise taxes. Improvements and equipment.
( Dry Dock East Broadway & Battery RR.
1)
V. 91, p. 946. In Jan. 1911 $500,000 additional cortfs, wore authorized for
R e c e iv e r s h ip T e r m in a te d . — O n N o v . 2 3 1 9 1 7 t h e r e c e iv e r s h ip b e g u n o n
Improvements and equipment. V. 92, p.264. As those matured,various F o b . 1 1 9 0 8 w a s t e r m i n a t e d b y a d e c r e e o f t h e U . S . D i s t . C o u r t f o r t h e
other issues were made from time to time. In Oct. 1913 $3,200,000 1-yoar S o u t h e r n D i s t r i c t o f N . Y . V . 1 0 6 , p . 7 1 5 .
6 % receivers’c rtil’. were authorized to retire $3,140,000 falling duo Oct. l
o
s
C o m m itte e f o r C e r t ific a te s o f I n d e b te d n e s s .— Ralph J. Jacobs. F. H. Ecker
1913, which havo been extended from year to year. V. 105, p. 1310. Tho and S. SIdnoy Smith.
Interest duo April 1 1918 on these certfs. was deferred until M a y 1 1918
O R G A N I Z A T I O N . — Incorporated Dec. 8 1863. Third Ave. Ry. owns
(V. 106. p. 1578).
$1,198,000 of the stock. In Jan. 1906 began operating Grand St. line by
S e t t l e m e n t . — On Doc. 21 1915 Supreme Court Justice Whitaker auth.
Oct.
changed
horse cars
tho receiver to sottlo with the N o w York City Railways Co., tho suit against electricity. On B and 1 1911 St. linos. from93. p. 1105. to storage-battery
cars on Avenue
Canal
V.
On Oct. 25 1912
i and i s prodecessor, the Motrop. St. Ity., on payment to tho Court of received permission from P. S. Commission to electrify road on Canal St.
t
t
$548,352 for breaking tho lease, amount duo on inter-receivership account. V. 95, p. 1206.
. See V. 101, p. 2146.
R e fu n d in g P l a n . — T h o p la n d a t e d J u l y 9 1 9 1 7 ( V . 1 0 5 , p . 4 9 7 ) f o r r e f u n d
S tr ik e . — See N o w York Railways Co. above.
n
x
In M a y 1917 petitioned tho P. S. C o m m , to "establish such new regula in g l t h o e o t ir ea die b t o fFt h o. c o m p a n y , o ed c e p t t h e pg e n e r a l m t g e . ob o n drst,f w a s
oc
v
de
i
. o
tions in regard to rates, fares and transfer privileges, or otherwise so to dn d ea rte d n epse r wtill e eine iv e bu p1 9 1 8 .r e s Hn tla teir s otfh e r e oofs t t rte cee ip t si of n r Tcreu s t s C o .f
i
b ed
s
r c
e
on p
e
on
u
exorcise i s authority as to make posslblo tho earning of a more adequate o f N . Y . b e f o r e J u l y 1 1 9 1 8 s e r ie s C r e g is t e r e d r e f . bo n h s ( cn n v e r t i b l e i n t o
t
o d
o
return upon tho capital Invested.”
p
b
t e
o
f
s
C
ds
r
00
lu e
In M a y 1918 tho P. S. C o m m , adjourned tho hearings on this applica c o uc eorn f s . o n d s ) ine b he d r aetsis . oV . $ 5190 61.0 p e r .7 1 5 .b o np o nf o c o e asc hm $ 1 a t i op a ro v a t h e
of
t
o f in d
t
n
.
U
n u m
n
f
tion following tho decision in the Rochester Faro Case (V. 106, p. 1461)
an th o u st n d
c a i a liz a tio n
f
in which i was held that tho Comm, was without power to grant Increases p le n r e fe n d t m ag e isn g ie s pB t---------------------w ill b e4 a s-J o llo w s : 5 2 8 , 0 0 0 J a n . 1 1 9 6 0
t
J
in fare where the companies were bound by franchise obligations to a G e n r e f u n d m t g o se r O . - . c & r S 1 0 0 & C
G
u
t
er
Text
6 5 0 ,1 0 0 J a n . 1 1 9 6 0
maximum faro.
B o n d s .— O f t h o g e n e r a l r e f . m t g e . b o n d s , $ 1 , 5 0 0 , 0 0 0 a r e se r A 5 % b o n d s ,
O R G A N I Z A T I O N . — Chartered Jan. 21 1853. Was formerly leasod to
o f w h i c h $ 9 5 0 , 0 0 0 a r e r e s e r v e d t o r e t ir e t h o g e n e r a l M . 5 s , d u e 1 9 3 2 , a n d
Met. St. Ity. V. 66, p. 185.
$ 5 5 0 , 0 0 0 m a y b o is s u e d t o a c q u ir e a d d i t i o n a l p r o p e r t y a n d f o r b e t t e r m e n t s ,
SECURITIES—
P a r.
In terest.
O u ts ta n d in g .
M a t u r it y .
b u t o n l y u p o n t h e j o i n t c o n s e n t o f t h e h o ld e r s o f a t l e a s t 7 5 % o f t h e a g g r e
Stock $2,500,000 ($100)--- - *100 9 Q - M
$1,862,000
See text.
g a t e p a r v a l u e o f s e r ie s B a n d se r ie s C b o n d s t h e n o u t s t a n d i n g , o r a f t e r
Receiver’ certfs-----entff
s
1,000 6 A-O
3,140,000
See text. d u o n o t i c o a n d f a i l u r e o f h o ld e r s o f m o r e t h a n 2 5 % o f s e r ie s B a n d C t o
ICallablo at 100 and Interest.
o
A
d
d
ri
Debentures of 1889-----ntf
1,000 6 J-J
89.0OO Jan 1 1909 o b j e c tS t h e rse tB . b S e rsie s o b o nios a r en a p r io r lie n a n d p r e fe r r eh a s t o p r i n .. &
er
n
r
re
t
First cons M gold $7,000,000/
1.000 5 g F-A
5,631.000 Feb 1 1948 i n t .. o v e r ,ies e r ie s oC db o a rd s .a pS e r r lieC o v e r , s atnod bperaerfeirn t .d t b oa n da s ntcol . pJ un y &
in t
n
ie s
bond
o
i
l
1
1898 guar p tc 1 end..c*tflGuaranty Trust Co.. N o w York, Trustoe.
n
Of tho now first consolidated 5s, $1,369,000 wore reserved to retire securi 1 9 2 .5 a t s u c h d o n -c u mJl a t i v o r a t e 6n o t e xtc e e d in g 5 % p e r a n n .i a s de arr n in g s p e r
O
t
o
a
he
ties of earlier dato. V. 66, p. 900. For mistake of trusteos In exchanging m iitth a n n dadn t i oa fa e r1 % a n f. e1a r1n9e2d . a r e 1 0 5 b e a. r 4 i9n7t;. V .t 1t 0 6 , fp x e7 1 5 .a t e o f 4 %
w
a
i
n l
i
V.
, p
.
some 5s of 1909 for consolidated 5s of 1948, see V .76, p. 654.
STOCK A N D BONDS—
P a r.
In terest.
O u ts ta n d in g .
M a tu r ity .
E A R N I N G S . — For fiscal yoar ending Juno 30:
Stock $1,200.000.......... $100
6 Q-F
$1,200,000 See text
J u n e 30.
T o ta l
N e t ( a ft e r I n t . o n R e c 'r 's
S u r p lu s o r
General mtge gold 1892..ntf ( 1,000 5 g J-D
950,000 Dec 1 1932
Y ear—
R eceip ts.
T a x es).
C e r t fs ., & c .
R e n ts .
D eficit.
„
„
(Farmers’ Loan & Trust Co., Trustee.
1916-17___$751,293
$67,944
$189,073
$2,355
def.$123,484
R O A D . — 19.15.8 miles of track.
1915-16___ 880,473
213.085
201,361
2,217
sur.
9,507
R E P O R T . See above.
—
R O A D . — Track operated, 23.90 miles.— V. 105, p. 1310; Y. 106, p. 1578
I N D E X . — V. 103. p. 239; V. 105, p. 497, 1522; V. 106, p. 715.
( ) Forty-Second Street Manhattanville & St. Nicholas A v e n u e
2
T H I R D A V E N U E R Y . — U n d e rg ro u n d tr o lle y .
Ry.— A horse road,but Nov. 11 1900 changed to electricity. Operates the
O R G A N I Z A T I O N .— In co r p o ra te d In N e w Y o r k o n A p r . 20 1910 a n d on
Third Avenue Bridge Co.
Jan . 1 1912 (C o u r t o f A p p ea ls h a v in g a ffir m o d th e d e cis io n o f th e A p p e lla te
On Sept. II1912 Judge Lacombe signed an order discharging the receiver.
D iv is io n o f S u p rem o C o u r t , w h ich roversod th o o rd e r o f th o P u b lic S o rv .
V. 95, p. 679. Nothing i being paid on 2d mtge. 6s— a l of which are
s
l
hold by Third Avenue Ry.
C o m m ., refu sin g t o a p p r o v o reorga n ization p la n ; s u b s e q u e n tly a p p r o v e d b y
th e C o m m , o n J an . 17 1912. V . 9 4 , P- 209; V . 9 3 , p . 1464; V . 9 2 , p . 1637,
In Dec. 1910 Pub. Serv. Comm, granted authority to operate 110th St.
1567; V . 9 1 , p . 3 38) t o o k o v e r th o p r o p e rty o f th e
T h ir d A v e n u e R R . .
Ino permanently by storage-battery power. V. 91, p. 1766.
s old a t foreclos u re on M a r . 1 1916. V . 9 3 , p . 1535.
O R G A N I Z A T I O N . — Chartered Aug. 29 1878. In Nov. 1895 control
O w ns all o r p r a c tic a lly a ll o f th e s to c k o f th o fo llo w in g : U n io n R y . , D r y
was purchased by the Third Avenuo RR. See V. 61, p. 926.
D o c k E a s t B 'w a y
B a tte r y , 4 2d S t. M a u h a tta n v llle
S t. N ic h o la s A v o .,
In Doc. 1899 began to use underground electric system from Fort Lee
Y on k ers R R . , W ostch o ste r E lo c tr lc , S ou th ern B o u le v a r d , K ln g s b rid g o R y . ,
Ferry to Boulevard, then to Firty-nlnth Street.
N ew Y o r k C it y In te r b o r o u g h , N e w Y o r k W e stch e ste r & C o n n e c tic u t
$2,471,300 stock and a l tho $1,487,000 outstanding 2d mtge. incomes are
i
T r a c t io n C o ., M id -C r o s s t o w n R y . C o ., I n c ., B e lt L in e R y . C o r p o r a tio n
ownod by Third Avo. Ity.; the remaining $113,000 2d mtge. bonds have
P elh a m P a rk & C it y Island R y . , B ro n x T r a c tio n C o ., T h ird A v o . B rid ge
boon rotirod.
O o .;a ls o th o $ 1,4 8 7 ,0 0 0 ou ts ta n d in g 2d M . in c . b o n d s o f 42n d S t. M a n . &
On June 21 1912 Pub. Serv. C o mm, granted auth. to extend for 30 years
S t. N Ic h . A v o . I t y ., th o $ 2,1 6 4 ,0 0 6 b o n d s o f th e N . Y . C it y In to rb o ro u g h
to Mar. 1 1940 at 5 % the 1st M . 6s matured Mar. 1 1910. V. 94, p. 1695.
R y . an d th e $ 1 ,7 5 0 ,0 0 0 5 % b o n d s o f th e B e lt L in e R y . C o r p o r a tio n . W ith
STOCK A N D BONDS—
P a r.
In terest.
O u ts ta n d in g .
M a tu r ity .
th e N . Y . R y s ., th o C o n o y Islan d
B k ly n . R R . a n d th o I lk ly n . R a p . T ra n s .
Stock authorized $2,500,000.. $10 0
..... .
$2,494,900
Se
e
o
ld
&
S
c
&
C o ., co n tr o ls th o B k ly n . & N o r t h R iv e r R R . , op e ra tin g o v e r M a n h a tta n
B rid ge.
O n J an . 7 1914 th o c o m p a n y a p p lie d t o th e P . S . C o m m , fo r a u th o r ity t o
Issue $ 6 ,6 5 0 ,0 0 0 b o n d s on a c c o u n t o f th e c o s t o f a cq u irin g c o n tr o l o f th e
B elt L in e R y . C o r p . ( V . 9 6 , p . 9 46 , 1020, 1 29 5 ). th o N . Y . C it y In t o r b o r
ou g h R y . C o . a n d th e M id -C r o s s to w n R R . , a n d t o p a y fo r ce rta in c o n s t r u c
tion w o r k . See V . 9 8 , p . 74. A p relim in ary o rd e r w as p ro cu re d in M a r . 1914.
a u th . th e Issue o f $ 4 ,0 0 0 ,0 0 0 o f these b o n d s aga in st th o p u rc h a se b y th e
3d A v e . R y . o f certa in secu rities o f th o N . Y . C it y I n to r b o r o u g h a n d t h o
B elt L in e R y . C o r p . (seo an n u al re p o rt o f 3d A r e . In V . 99, p . 1 4 4 7 ). T h e
Issuance o f a fu r th er $ 2 ,0 2 0 ,5 0 0 o f b o n d s w as au th o riz e d O c t. 8 1916, w h ich
w ore issued an d p u rch a sed b y th o c o m p a n y as an In v e stm e n t fo r th e
d ep recia tion fu n d .
.— O n N o r . 1 1912 bogan tran sferrin g t o t h o S e co n d A v e . R R
b y w a y o f th e B e lt L in o R y . C o r p .’s 5 9th S t. lin e. T h e la st-n a m e d c o m
p a n y is n ow p a rt o f th e T h ir d A v o . R y . s y s te m . O n M a y 25 1917 a p p lie d
t o P . S . C o m m , fo r p erm ission t o ch arge 2 c . fo r transfers w ith o u t fu rth er
ch a r g e fo r a ro-tra n sfor.
.— F o r appraisal o f sys te m in 1918 see V . 106, p . 1462
In M a y 1918 th o P . S . C o m m , a d jo u r n e d th e hearings o n th is p e titio n
fo llo w in g th e d ecision In th o R o ch e s te r F aro C ase (V . 106, p . 1 4 6 1 ), in
T nfe
ra s rs
Vlutio
aa n
F irs t m o rtg a g e g o ld 1 880. . t f
1.000
6 M -S
1 ,2 0 0,00 0 M a r 1 1940
R e d a t 1 10 a n y in t d a te .
In te re st a t C e n t . T r u s t C o ., N . Y . C it y .T r u s
S o co n d m tg e In co m e 6s 1885 1.000
6 % as earned See te x t J an 1 1915
$ 1 ,6 0 0 ,0 0 0 .............................t f . C e n t . T r u s t C o . , N . Y . , T r u s te e .
_
R O A D .— 2 0.291 m iles o f t r a c k . A ls o o p e ra te s th e 3 .6 3 1 m iles o f T h ir d
A v e n u e B rid g e C o . ’s tr a c k .
R E P O R T .— See a b o v e .— V . 9 4 . p . 1056, 1695: V . 9 5 , p . 6 79 .
(3) U n i o n R a i l w a y C o . o f N e w Y o r k C i t y .— A tr o lle y r o a d .
O R G A N I Z A T I O N .— O p erates fr o m 129th S t. a n d T h ir d A v e . th ro u g h
th o B o r o u g h o f th e B r o n x , a n d w ith su b sid ia r y lines co n tin u in g th e n c e to
a n d th ro u g h M t . V e rn o n .
O w n s $ 5 8 ,1 0 0 (a ll th e o u ts ta n d in g s to c k ) o f th e B ro n x T r a c t io n C o .
.— O n J u ly 2 1914 th e B o a r d o f E s tim a te a n d A p p o r tio n
m e n t g r a n te d th e c o m p a n y a fra n ch ise t o cro ss th e W illis A v e . b r id g e o v e r
th e H a rle m R iv e r t o 125th 8 t . , a n d a lo n g 125th S t. t o th e F o r t L e e F e r r y .
T h e P . 8 . C o m m , in a p p r o v in g th e fra n ch ise e x e m p te d th e c o m p a n y fr o m
e xch a n g in g tran sfers w ith th e T h ir d A v e . an d 42d S t. M . & S t. N . A v e
c o m p a n ie s a t in te rse ctin g p o in ts in said fra n c h ise . V . 9 9 , p . 5 0 . In 1917
w a s gr a n te d a fra n ch ise fo r a lino t o th e D y c k m a n S treet F e rr y , a n d in
M a r . 1918 re c e iv e d a u th o rity fo r its c o n s tr u c tio n . See V . 106, p . 1231
u n d o r " R a p i d T ra n s it in N e w Y o r k ."
NwF nh e
e ra c iss
ELECTRIC RAILW AYS
80
[Vol. 106.
P O P U LATION
O X F O R D
STATE OF N E W JERSEY (1915 CENSUS) 2,844,342
M U N IC IP A L IT IE S
146
163
190
\
y
E
Y
""
2,130,599
2,033,027
2,196,081
2,294,993
220
A
HARMONY
PO PU LA TIO N
(1915 CENSUS)
NUM BER
Railway
Gas
Electric
Total
W
SE R V E D
'
'
M A N S F IE L
\
\ WASHINGTON
v
\
\
TWP.
\
unuitRium
l nA N K L I N
,«<■ *'
\
\
\
:
\
r
\
\
)
.<
WA|
\
<?L
E B A N 0
N
\
BETHLEHEM
>
i
H O L L A N D
)
[ IH glrjlriclge/
V, UNION A,
i
(
/'Alexandria'
s
/ '
<
t
' ( TEWTCS
^
L ,N T 0 N
X
c
>'')
£
5 # '
"
h
u
I^
n
.
FRA N K LIN^
\
t
^
S
"
e l a w
a r e
\
R A R 1T A N
_
.
/
j
^
'
:
EAST
fe| W E S T A M W E L L \
'5A\
i
i
!
--- . _ l
<
J
1
j
/
r - ■ ./
*
rV9 1
"
H I L L S B
TV
j
AMWELL
A 1
o
>
i
\
( Hemlngtpta)
\
*N
\ *
'A
A
A
'
A D I N G T 0 N|
\
KINGWOOD
/
M
r "e
MONTGOMI
H o g e w e ll J
/
ry
'
H O P
E/ W
A
TWP.
i
E L L
JJ
^
I
---- PRINCETON
V N 9 ' _ ___
_
\
'TrljicAitoV
/<.
EWING j
f-
V-*
I
s-'L I
|
j
/
/
/ y
v/ J
V
\
-
y
S^JVI
E
R
N N ^HAMILTON
VI V \
in o w u /
TWP.
-
V
j
’
i
1
WASHINGTON
I
TWP..
i
[Bord^tr____ yUtO\\0l
^Flcldsborb
'
•
\ TWP. J
'i
C \
J
I
\
^ L PHIA/
“ L.
&
l..
MST
)EPTF0ftD
PLUMSTE^
llsboro
TWP.
TWP.
I
< J
U CESTER
^ W
V
wp- !
ashington'S
>— s
•
” p-
^
^
Q A^M
/
TWP.
/ SOUTHAMPTON
r>
T O
\
[K E f O
\
--------- 1
\ ^
W
p E M B E R T o 'n '
r s '
"
\
jB
/
\
iX
/
/U
-------------•*
\
V
\
R
\ L
_
I
N
^
HI
ELECTRIC RAILWAYS
Ma y , 1918.1
Stanhope i
x 7
UNT
Note?''
r
I
r
o
c
k
W
a
> /
-IVE
^
o
^
"■ 's
TWP.
v
X
/
}
y
*
'v /
- rfiu
1 * 4 *5 ^
rfmlon |
R RANDOLPH / R
y
> TWP.
Je s t e r
. O
FEQUANNOCK
ow
/ bOONTON •
TWP.
/
t
x y
JWP.
jf
/
>
.
*
* y
./•vRidgewfcoa
r
MENDHAM
ip
.
S
/
|M e
/TWP.j
H A N 0 V E R
I
;
n d h a m
X
/ \
. V MoixistiownV
—Y
*
/
1
L ittle F a lla .-V
TW P.
'
w M
\
> * V
'cu
Ce ^ P r0Ye\ \
^ / UoB*cla\,
^Hackensack’
LIVINGSTON /
'.PASSAIC,^“ X ¥
R ° s,- T W P . /
J
A
a
V
r W
Bernardsvllle
r)B E
<
^
TWP.
\ P a s s a lc 1
S /S f c E Y A
\
y'
X T \ .Nutlcy#
$
V
/ r
\ \ Mil Iturn
Buy
\
Sunlmltl^.^.
\
> v < J ' ~ - ----T n e w \
\
^
( p r o v id e n c e
rcld
\
J oi\oN
E \R
S
E
1 /
'
,
MER
% V WARREN
“ * ' rwPN
fY
N
TWP. /
|
La
.
. _
*
'>N
\
Plalnllc
lomervllle
V " ''
P lalnilcl^C X /1ujV'
aUc
Bound
/
W
ijr o o lfi,, .r~ L / j i ) „ . / : i ----------. j i
" 'W
-v
^
'
p —
C;"'
Tjjgpdg*
.
yTenafly, 7
TEANECK/v> t
‘>
I ,P. /
—T W .
IBdgpta / » ^
/
T\J
:h
IE B R O N X
u
>-
J ^
B o u n d fS U PISCATAWAY
WOODBR1DGE
i
V
^nighlau<U^ark
B O R O U G H OF . j
QTATEN ISI^D
BrjinSwlck,
NORTH
BRUNSWICK
TWP. ,-
^
r ic h m o “ n d \
,>
"y
K__
o
s ’
TWP.
A N K L I
TWP.
.
:»rl«tadt o t )vcr.B
k
<•' ^
Bloom ft<
?
1
*,7
fe z ? V r V ?
^ e jr & s ca r
^ 2 / V !V
/
V
j~
r
,
\\
,
i » M
-----
\
Sil-er
^ < £ V
South I *?.
Bivei/WM-.
-------
y y ^ - ^ S A Y f lE V IL L E
T J f /P .
J
a W I C K <5] ^
/
.
- ^
^ " 1
/”J^ncsTurg
7
1
L /.
M A D I S O N
TWP.
.■
M^'aivanVjv-s
yMATAJ^ATT;^^.
K e y p o r?
^ jf^ P .1
>
—
_
i
0
N R 0 E
i
HOLMDEL
TWP.
MARLBORO
TWP.
I D ok E T 0
/M
MANALAPAN
\
/
l
j
TWP.
/
TWP.\
TWP.
Redbaulc
\
TONE \
\
rp.
y
\
M (^
/
/
*'
/ Freehold Y a t l a n t i
y
/ o
V U
FREEHOLD
TWP.
/
/
S*)
/ a^
.
/ e IWi
N,
' -00 /EATONfoWNr-^'
/
X
F arm lng daf^ T
H O W E L
C)
i “ t w p . j_j
twp.
s
twp.
j'V
/~ --V
'
— Qr
/
f i
/OCEAN TWP. /J
69
‘ f
K
'
'
/
r-
TWP.
W A L L
Belmar J
Tiiy^r* o f
X
I
_______ L A K E W O O D
lanasquan %
Electric R ailw ay Lines
Controlled by
J
« \
?
V
A
P U B L IC SE R V IC E C O RPO RATIO N
IB R.I C
OF N E W JE R SE Y
X
SCALE OF MILES
0
5
CONNECTING LINES—
10
15
82
ELECTRIC RAILW AYS
S T O C K A N D BONDS.
P a r.
I n t e r e s t . O u ts ta n d in g . L a s t d i e . ; A c .
Stock ($100) a l owned by 3d Ave.
l
$2,000,000 _________
First mortgage 1892gold..tf./ 1,000 5 g F-A
2,000,000 Aug 1 1942
\Int. payable at Central Tr. Co., N. Y. City.
G u a r a n te ed L o a n s —
Westchester 1st M gu p & 1 $1,000 5 g J-J
1
500,000 July 1943
gold 1893__________ ntf/Bankers Trust Co., N e w York, Trustee.
Southern Boulevard R R 1st1 ___
5 g J-J
250,000 July 11945
gold 1895___________ tf/Central Trust Co., N e w York, Trustee.
Yonkers R R f
irst mortgage__ ____
______
See below _________
R O A D . — Including Bronx Traction, Westchester Eloc. RR. and Southern
Boulevard RR.. operates 170.093 miles of track.
R E P O R T . — See above.— V. 94, p. 489, 1318; V. 99, p. 50, 1971.
la) Bronx Traction Co.— A trolley road.
O R G A N I Z A T I O N . — Incorporated on M a y 12 1904, and I a consolida
s
tion of several small companies. See V. 78, p. 2333. Entire stock owned
by Union Ry.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $585,100 ($100)......-........ ....
$58,100 ________
R O A D . — Owns 22.938 miles of track, operated by Union Ry., from Bronx
River by West Farms Road to Westchester Village; from Bronx River by
Southern Westchester Turnpike to Westchester Village; from Main St.,
Westchester Village, to Eastern Boulevard, and from West Farms Road to
Bleecker St. Standard gauge; 109-lb. r i s
al.
(
4) Yonkers Railroad.— A trolley road.
In July 1912 Supreme Court of Westchester County made an order dis
charging the receiver. V. 95, p. 112.
O p e r a tin g A g r e e m e n t w ith U n io n R y . — On M a y 25 1911 Pub. Serv. C o m m ,
approved the terms of an agreement whereby cars of the Yonkers RR.
would run over certain tracks of the Uu/on Ry. to the terminals of the N o w
York City subway and elevated lines. This reduced from 15 to 10 cents the
fare from Yonkers to lower Manhattan, restoring the old rate as before the
breaking up of the Metropolitan Street Ry. system. V. 92. p. 1245, 1438.
S tr ik e . — See N e w York Railways Co. above and Third Ave. Ry. In V.
103, p. 2079. Service on the Yonkers-IIastlngs division, which had been
practically suspended since Sept. 1916, owing to labor troubles, was re
sumed on Dec. 27 1916. Service to Unlontown was rosumed some months
later.
O R G A N I Z A T I O N . — The Union Ry. guarantees the $1,000,000 bonds,
p. & 1 V. 67. p. 635. $992,500 stock owned by Third Ave. System.
.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $1,000,000 ($100)................ .
$1,000,000 ________
First mtgo gold $1,000,000T 1896
5 A-O
1,000.000 April 1 1946
uaranteed_________ ntf/Bankers Trust Co., N o w York, Trustee.
IOAD.— Owns 44.003 miles of track.— V. 95. p. 112; V. 103. p. 2429.
f
(5) Klnzsbridge Railway.
O R G A N I Z A T I O N . — Incorp. Jan. 25 1898. T h a f r a n c h is e , the terms of
which are 4 % of gross receipts for the fir t 5 years, 6 % for the second. 8 %
s
for the third and 10% thereafter. I for 25 yoars, with privilege of renewal
s
under certain conditions for another 25 yoars. At the end of the term the
city acquires the property, paying for I In accordance with definitely
t
prescribed rules for fixing I s value. V. 69, p. 1248. Work on this lino
t
was begun In July 1901 and completed In 1902. Runs from Amsterdam
Avo. and 162d St. to Broadway and 225th St., making 7.15 miles addi
tional. Entire $8,600 stock owned by the Third Avenue Ry., which com
pany also oporatee the property.
(6) N e w York City Interborough Ry.— A trolley road.
The Third Ave. Ry. owns $4,500,900 stock and $2,077,000 1st M . bonds.
O R G A N I Z A T I O N . — Incorporated In N o w York on March 24 1902, In
the Interest of the Interborough Rapid Transit Co., to build an extensive
system of feeders for the subway and elevated llne3 In the Bronx, and to
afford street railway connections across the Harlem River bridges.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
8tock, $5,000,000 (S100).... ........ ....
$5,000,000 ________
First mortgage, $5,000,000,1 1905
4 g M-N
2.164,000 M a y 1 1928
sinking fund, gold----tf/U. S. Mort. & Trust Co.. N. Y.. trustee.
P o n d s . — Of remaining 1st M. Ponds, $87,000 ars In sinking fund and
$830,000 are In treasury.
R O A D . — 37.334 miles of track. Three-cent transfers are exchanged at
certain points with the subway system and the Manhattan Elevated RR.
— V. 93. p. 1191; V. 94. p. 279, V. 95. p. 544. 1274.
(7)
Belt Line Railway Corporation.— Storage-battery and electric.
O R G A N I Z A T I O N . — Incorp. at Albany on Dec. 24 1912 to take over
the Central Park North & East River RR., sold at foreclosure on Nov. 14
1912 to Edward Cornoll (V. 95, p. 1331, 1402; V. 104, p. 1701). In March
1913 was takon over by Third Avo. Ry. V. 96, p. 864, 948.
On Nov. 1 1912 the old Cent. Park N. & E. River RR. began transferring
passengers for a single 5-cent Tare to N. Y. Rys. and Third Avo. Ry. lines
on 59th St. See "Now York Railways” on a preceding pago.
In Mar. 1913 P. S. Com m . auth. the making of a mtge. for $4,000,000
1st M . 5s and the Issuance of $1,750,000 bonds thereunder at not less than
95. Entire stock and bonds owned by Third Ave. Ry.
On Nov. 7 1913 the P. S. Comm, granted the Joint application of this co.
and tho Third Ave. Ry. to Increase the auth. stock from $600,000 to $750,
000 and for the Issuance of $253,000 stock to tho Third Ave. Ry. In payment
of advances for the purchase of storage-battery cars. V. 97, p. 1356.
K'J'STOOK A N D B O N D S —
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Stock $750.000............... -----$734,000 ...... .
1 st mtgo $4,000,000 gold red 1 1913
5%
Seo text Jan. 1 1943
as a whole at 105______tfI
Central Trust Co.. N. Y.. trustee.
B o n d s aro guaranteed by Third Avonue Ry.
R O A D . — Owns road on 59th St.. East and West, with belt line on East
and West Sides to South Ferry— 24.596 miles of track. All elec, on 59th St.
Horse cars were replaced by storage battery cars on East and Wost Side belt
lines. Owns 79 storage battery cars.— V. 98. p. 1692, 1919; V. 99, p. 1450.
(8) rtlld-Crosstown Railway Co.— Storago-battery cars.
Acquired by tho Third Ave. Ry. late In 1913.
O R G A N I Z A T I O N . — Incorp. In N e w York on Feb. 14 1912. in the Inter
est of the reorganization commltteo, as successor to the 28th Sc 29th Sts.
Crosstown RR., sold at foreclosure on Jan. 4 1912 (V. 94. p. 69; V. 104, p.
1703, 2119. See plan of reorganization In V. 93, p. 1790.
In Feb. 1914 the P. S. Comm, authorized the Third Ave. Ry. to acquire
and hold the $150,000 stock of the MId-Orosstown Ry. Co.. Inc., and In
April 1914. In payment therefor, the Third Ave. Ry. Co. Issued $180,000 of
bonds, and gave I s 4 % promissory note for $250,000, payable In throe equal
t
annual Installments, and canceled claims amounting to $34,442 against the
Mid-Crosstown Co. (V. 99, p 1447).
Stock, authorized and outstanding. $150,000 ($100).
R O A D . — Track operated, 5.254 miles.— V. 98. p. 304 , 306 , 611.
(9) Pelham Park & City Island Ry. Co., Inc.
O R G A N I Z A T I O N , &c.— Incorp. M a y 10 1913 In N. Y. and on July 9
1914 the Third Ave. Ry. acquired control. Auth.#
common stock, $125,000;
outstanding. $45,000. Length of road, 3.286 miles, from Bolden Point,
City Island, to Eastern Boulevard, or N e w Rochelle Road. Operation by
storage battery was begun Aug. 18 1914. V. 99, p. 610.
FEDERAL LIGHT & TRACTION CO
In Oct. 1916 Westlnghouso Elec. & Mfg. Co. Interests and Samuel Inaull
of Chicago acquired substantial holdings in tho stock and other securities
of the company. V. 103, p. 1687.
O R G A N I Z A T I O N . — Incorporated In 1910 In N e w York. Holds a con
trolling Interest In tho following companies operating gas, electric lighting,
steam hoat, Ico and traction properties located In cities montloned In t t e .
ils
Albuquerque (N. M.) Gas & El. Co Las Vegas (N. M.) Lt. A Power Co.
Central Arkansas Ry. & Lt. Corp., Las Vegas (N. M.) Transit Co.
Rawlins (Wyo.) Elec. Lt. & Fuel Co.
Hot Springs, Ark.
Sheridan (Wyo.) County Elec. Co.
Hot Springs Street Ry. Co.
Springfield (Mo.) Ry. A Light Co.
Hot Springs Water Co.
Sprlngflold (Mo.) Gas & Eloc. Co.
Citizens’ Electric Co.
Springfield (Mo.) Traction Co.
Consumers' Gas Co.
Trinidad (Col. El.Transm.,
)
Ry.AGas
Doming (N. M.) Ico A Elec. Co.
Grays Harbor Ry. & Lt. Co.. Aber Tucson (Arlz.) Gas, Elec. Light &
Power Co.
deen. Wash. (V. 86. p. 420).
Tucson (Arlz.) Rapid Transit Co.
Hobart (Okla.) Electric Co.
The entire capital stock and a l the underlying bonds of a l of the above
l
l
19 companies,except the $1,200,000 prof, stock and $1,952,000 1st lien
bonds of the Central Arkansas Ry. A Lt. Corp.; $587,000 preferred stock
[Vol. 106
and $1,959,500 bonds of the Springfield Ry. A Lt. Co. and $100 par value
of bonds and $86,050 stock of Tucson Rap. Tr., have been acquired. See
description of properties In V. 90, p. 1490.
T u c s o n R a p id T r a n s it C o . — Seo ‘N e w Franchise” In V. 99. p. 1912.
’
In the early part of 1913 sold the Montrose (Colo.) Elec. Lt. & PowerCo.
In Dec. 1913 $725,000 10-year gold notes were Issued (auth.,$10,000,000,
seo below) carrying an equal amount of common stock option warrants
entitling holders to obtain such stock at par any time prior to Dec. 1 1923.
Seo also V. 97. p. 1583, 1822. In June 1914 a further $715,000 of these
notes were lamed at 6 %.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $5,500,000 ($100)--............... $4,750,000 ........
Q-M
Pref $5,500,000 6 % cum ($100)___
2.500.000
Seo text
First lien s f M $50,000.0001 1912
5 M-S
_______
3.877.000 Mar 1 1942
gold ($500 & $1,000)___ c*/OoIumbla Trust Co., N. Y., trustee.
Convertible debentures $1,-1 1912
6 M-S
1,500,000 Mar 1 1922
500,000_______________ /Brooklyn Tr. Co., Brooklyn, N. Y., trustee.
10-year gold notes, $10,000.-/ 1913 6 %
715.000 Dec 1 1923
000 .................. / 1913
7%
725,000 Dec 1 1923
iColumbla Trust Co., N. Y., trustee.
B o n d s . — Of the remaining 1st lion sink. fd. bonds, $1,666,667 aro reserved
for conversion of debs, and $44,088,333 are for impts., betterments and ac
quisitions under conservative restrictions. $368,000 retired by sk. fd. Red.
as a whole but not In part at 102 and lnt. Annual sk. fd. of 1 H % of bonds
aut Mar. 1 1913 to Mar. 1 1923; 2 % 1923 to 1933; 2 H % 1933 to maturity.
Payments for redemption of bonds i purchasable at or below 102 and lnt..
f
otherwise to be Invested In new property subj. to the mtge. See V. 94, p.910,
559. Debentures are conv. at 90 Into 1st lion bonds after Mar. 1 1913, and
more than 5 days before debentures havo been called at par, provided consol,
net earnings, excl. Sprlngrield, exceed 2>4 times lnt. on 1st M . out and
Issuable against conversion. Red. as a whole but not In part on any lnt.
date at par and lnt. on 6 weeks’ notice, and. I presented for exchange for
f
f r t lien bonds, may be taken up at 101 and lnt. In cash. Conv. up to nnd
is
Incl. 6th day preceding date fixed for redemption. V. 96, p. 284. The
notes of 1913 aro redeemable at 105 an 30 days’ notice until June 1 1921;
thereafter at par and lnt. V. 97. p. 1822, 1583.
D iv id e n d s . — On pref.— 1 H % — paid quar. from Sept. 1910 to and includImg Sept. 1914. Dfv.payments since have been deferred (V. 99, p. 1073).
E A R N I N G S . — Of controlled companies after elimination of intor-company earnings (excluding depreciation).
C a le n d a r
G ro ss
N et
In terest
C e n t .A r k .R y . S p r. R y.
B a la n c e ,
Y ears—
E a r n in g s . E a r n in g s . C h a r g e s , c L t . P f . D i o .
t
D io .
S u r p lu s .
1917.....-a.2,867,310 $856,846 $594,454
$84,000 i39,290 *>139,102
1916..... 2.502,142 864,249 586,046 (7%) 84,000 35,009 159,194
1915
2,352.015 806,299 589,342 (7%)84.000 23,890 109,067
L A T E S T E A R N I N G S . — For 12 mos. ending Fob. 28:
1917-18--- n)2,994,503 $886,075 $596,117 (7%)$84,000 $39,492 S166,466
1916-17--- 2,534,133 892,948 587,590 (7%) 84,000 35,988 185,370
R O A D . — Controlled properties operate 74 miles of track.
OFFICERS.— Pres.. Edwin N. Sanderson: V.-Ps., Francis Blossom,
Craig Colgate and Louis O. Gerry; Troas. A Asst. Sec., J. Dunhlll; Sec..
J. B. Marsh; Asst. Troas.. Richmond .Talbot.— V. 103. p. 1687; V. 104,
p. 1387, 2452; V. 106, p. 1900.
Central Arkansas Railway & Light Corporation.
Q Mar. 1 1913 was taken over by Federal Light A Traction Co., which
owns entire common stock.
'
O R G A N I Z A T I O N . — Incorp. Feb. 19 1913 In Virginia, taking over the
Hot Springs St. Ry. and other properties. Through I s constituent com
t
panies dow entire water, street railway, gas, electric light and power busi
ness In Hot Springs, Ark., and vicinity. Has contract with city of Hot
Springs for street lighting.
F r a n c h is e s . — Street railway expires In 1954. and exclusive as to streets
occupied until that date. Water, exclusive and expires Nov. 1931. Elec
t i light and power, expires 1933. Artificial gas, unlimited as to time.
rc
Also has natural gas franchise, expiring In 1931. Should supply of
natural gas f l , company will revert to art f c a gas franchise
al
iiil
F a r e I n c r e a s e . — In Mar. 1918 tho Hot Springs Street Ry. Co. dis
continued the sale of 6 tickets for 25 cents and books of 25 tickets for $1
and adopted a straight 5-cent faro. V. 106, p. 1036.
D e c r e a s e i n S to c k . — In M a y 1917, shareholders voted to docroaso the auth.
capital stock from $7,000,000 com. and $3,500,000 prof, to $2,500,000
common and $1,500,000 7 % prof, stock.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
_______ . $2,500,000 _________
C o m m o n $2,500,000_______ ____
Pref cum $ 1,500.000 ............
7Q-M
1.200.000 M a r ’
18,1 J*
First Hen $7,000,000 ($1,000,/ 1913
5 g M-S
. .
.
1.952.000 Mar ____
1 1928
$500 nnd $100) gold___ c*\Int. at Columbia Trust Co., N. Y., trustco.
P r e fer r e d stock i redeemable at 110 and accruod dlv
s
Dividends are guar,
by Federal Lt. A Trac. Co., by endorsement. Additional pref. stock may
be Issued under conservative restrictions. V. 96, p. 715.
B o n d s . — Additional bonds may bo Issued for 80% of cast of additions,
extens, and Impts. when net earnings are double tho lnt. charges on bonds
out, I c . those proposed to be Issued. Sink. fund, which began Jan. 1915,
nl
will rctlrcatlcast 20% of entiroissue by maturity. $159,000 In sinking fund.
All bonds subject to call on any Interest date at 1 1 .
(2
D iv id e n d s . — First dlv. on pref.— 1 % % — paid Juno 2 1913; \ % % has been
A
paid quar. since to and Inc . Mar. 1918.
l
E A R N I N G S . — Combined earnings of constituent cos. for calendar year
1916, gross, $494,109; in 1915. gross. $470,972; 1914, gross. $522,584.
R O A D . — Operates 13 miles of track; 60-lb. r i s 29 passongor cars.
al.
OFFICERS.— Pres., E. N. Sanderson: V.-P. Sc Troas., J. Dunhlll; Sec.,
E. I . I . D ’
C t
Aettl.— V. 96, p. 789; V. 104, p. 2451.
( ) Springfield (Mo.) Railway & Light Co.
2
As of Mar. 1 1911 entire stock was acquired by Fed. Light Sc Trac. Co.
O R G A N I Z A T I O N . — Incorp. in Maine in Nov. 1905. Owns entire
capital stocks of the Springfield Traction Co. and the Springfield Gas & Elec
tr c Co. The Klckapoo Transit Co. I also part of system. Eloctrlc Light
i
s
f r a n c h is e perpetual; gas fr a n c h is e exp I a In 1929; street railway f r a n c h is e
rs
in 1944 and steam heating fr a n c h is e In 1938. Does ontiro traction, gas.
0lectrlc light and powor buslnoss of city. Also doos steam heating, (n
l915 entered Into a now 5-year stroot-lightlng contract with city.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n stock $1.600,000___ ____
_______ $1,100,000 _________
Preferred $2,000,000 c u m .......
7 Q-J
750,000 Apr’
18. 1 U
1st lion mtge $7,000,000 gold/ 1911
6 g M-N
1,959,500 M a y 1 1926
($500 A $1,000) sink fd--C*\Guaranty Trust Co.. N. Y.. trusteo.
2-yoar gold notes---------- 1916
5%
287,000 Nov 1 191S
Preferred stock I prof, as to dividends and assets aud I rod. at 115 ana
s
s
accrued dividend.
B o n d s . — $4,760,000 1st lien bonds are reserved for additions and Impts.
at 80% of cost undor certain restrictions. Annual cumulative sinking fund
began Mar. 1 1913 and provides for 2 5% of a l bonds Issued. $280,500 In
l
sink. fd. Sub. to call as a whole or for sink, fund at 102 aud lnt. on any
lnt. day. lot. I pay. In N e w York. Boston or Chicago. V. 92, p. 1566.
s
D iv id e n d s . — Initial dlv.— \M . % — on pref. stock paid April l 1915;
samo rate auar. since.
E A R N I N G S . — For 12 mos. end. Dec. 31 1918, gross, $550,698; not
(after taxes), $177,773: Intorost, Ac., $10$,,770; surplus, $89,003. In
1915, gross, $536,940; not, aftor taxos, $155,302: lnt. charges, Ac., $109,314;
•urplus, $45,988.
R O A D . — Operates 23 miles of track; 59 pass, cars, 60. 70 and 80-lb. T
r i s Power station capacity, 3,250 k. w. Also has contract with Ozark
al.
Power & Water Co. for purchaso of 2,875 k.w.— V. 100. p. 982; V.105.P.2367.
( ) Trinidad (Colo.) Electric Transmission, Rv. & Gas Co.
3
Federal Light Sc Traction Co. owns a l the $3,000,300 outstanding stock
l
and the $2,938,000 bonds outstanding.
O R G A N I Z A T I O N . — Incorp. In Colorado on Aug. 7 1911 as successor
to the Colo. Ry., Lt. & Pow. Co., sold at foreclosure Aug. 2 1911. V. 93,
p. 409. Supplies electricity to mines and cities of Las Animas aud Huer
fano counties, Colo. Controls the entire gas. electric light and street rail
way business of Trinidad,Colo..and operatosan lnterurban railway connect
ing Trinidad with Thomasvlllo, Gokodale, Jerryvillo, Piedmont. Jansen,
Starkvllle and Soprls. Gas and electric fr a n c h is e s run from 16 years to
perpetuity. Street railway f r a n c h is e s run for 50 years from 1903.
P o w e r C o n tr a c t . Has a contract to supply tho St. Louis Rocky Mtn. Sc
—
Pacific Coal Co. with $60,000 worth of power annually. V. 99. p. 1912.
Also has a contract with tho Colorado Fuel & Iron Co.
R O A D . — Owns and oporates 19.4 milos. Powor plant capacity, 16,260
k.v.a. Rail, 60-lb. T; standard gaugo.— V. 93, p. 409; V. 99. p. 1912.
Ma y , 1918.]
(THE) U N I T E D O A S &
83
E L E C T R IC R A IL W A Y S
E L E C T R I C C O R P O R A T I O N .—
(.See M a p
O r g a n i z a t i o n . Incorp. In Connecticut on June 0 1912 as a consoli
—
dation of Susquehanna Ry., Lt. & Pow. Co. and United Gas Sc Elec. Oorp.
(Incorp. Mar. 8 1912.) Owns entire common stocks of the following com
panies (V. 94. n. 1388, 1696. Compare also V .97\ p. 726.)
Houston (Tex.) Gas & Fuel Co.
United Gas & Elec. Co. of N. J
Louisiana Gas & Fuel Co., Shreve
Lancaster (Pa.) Co. Ry. & Lt. Co.
port, La.
Consumers Electric Light & Power
Union Gas & Electric Co. of Bloom
Co.. N e w Orleans.
ington. 1 1
1.
Harrisburg (l’ ) Lt. & Power Co.
a.
Houston Heights (Tex.) Water & Gretna (La.) Lt. & Pow. Co., Inc.
United Gas Sc Elec. Eng. Corn,
Light Association
Owns 50.05% of the com. stock of tho Utilities Oil & Refining Co.
Also owns 6 0 % of tho common stock of Internal. Traction Co., Buffalo,
N. Y. (see latter company on preceding page under Buffalo), and over 9 5%
of the com. stock of Am. Cities Co. (see under N e w Orleans), acquired by
Issue of $75 of graduated 2d prof, stock and $25 com. stock for each $100
com. share of the American Cities Co. To do this, the shareholders au
thorized au issue of $12,500,000 2d pref. stock.
U n ite d G as & E le c tr ic E n g in e e r in g C o r p . -This company was organized
—
In 1913 for the purpose of acting as consulting, contracting and operating
engineers and as purchasing agents for the United Gas & Electric Corp.
and the American Cities Co.
In Feb. 1916 $5,000,000 additional 6 % co l trust sk. fd. bonds were
l,
Issued and offered at 97 and lnt. to tho holders of tho $4,500,000 3-yoar 6 %
notos of 1915 (called for payment April 1 1916) In exchange for their hold
ings at 101H and lnt., the difference being adjusted In cash. V. 102, p. 801.
S T O C K ANI) B O N D S —
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $20,000,000 ($100)---------- ---- --------$12,250,820
1st pref$25,000.000($100)6%f--Q-J
9.284,800 Oct. ’ 1 %
17
cum to Apr 1 ’15&7% after)
2d pref $12,600,000 ($100).................
11.663.500 ........
Collateral trust sink fd gold) 1915
6 g A-O
_
9,300,000 Apr l 1945
bonds Ser “A ” $15,000,0001 lnt. at Guaranty Tr. Co., N. Y.. Trustee.
f
($1,000 and $100)__c*_tfl and Pent). Co. for Ins.on L <cGr.An..Ph
Pur money ctfs of indebtedness--7%
1,925,800
See text
S to c k . — $168,200 1st prof., $3,087 2d prof, and $16,762 com. stock I In
s
treasury. The 2d prof, stock i to bear cum dlvs., viz., 2 % per annum
s
In 1914. 3 % In 1915, 4 % In 1916, 5 % in 1917 and 6 % thereafter, and will
bo entitled to a preference over common In event ofliquidation and subject
In a l respects to priority over present prof, stock. See V. 97, p. 597,
l
and V. 97. p. 888.
B o n d s . — 8700,000 c l , trust bonds are in treasury (of which 8665,000
ol
aro pledged as collateral security for $643,000 notos payable, remaining
$5,000,000 may bo issued for 7o% of the cost of acquisitions under certain re
strictions. $1,111,000 of bonds reports outst’ aro owned by a subsidiary and
g
deposited as part co l for I s bonds. The c l , trust bonds are secured by
l,
t
ol
com. and prof, stocks of tho subsidiary cos. having an aggregate par value
of $32,276,600. Rod. as a wholo or In part at 102H and lnt. on 4 wooks’
notice. A cumulative sinking fund commencing July 1 1918 will retire
over 70% of tho bonds at maturity. V. 100, p. 2091. Tax refund in Pa.
For description of Purchase Money c fs. of indebtedness, see under Utilities
t
Oil & Refining Co. below.
D iv id e n d s o n P r e f . An I i i l div. on 1st prof, at rate of 6 % per ann. (for
—
nta
period Juno 6 to Sept. 30 1912) was paid Oct. 1 1912. Iu 1913, 8%. In
1914, April, 3%. None to Dec. 1915, when 3 % was paid. In April 1916
changed div. periods to quar. instead of s. a , and paid 114%: same rate
-.
quar. toandincl. July 1917: Oct., 1%. (V. 105, p. 1210.) None since, . j
i
R E P O R T . — Calendar years (1917 report in V. 106, p. 2115):
C a le n d a r
In com e fo r
l n t ., < t .
fc
* A p p r e c 'n
P r e fe r r e d
B a la n c e ,
Y ear.
Y ear.
C h a r g e s.
D iv id e n d ;.
o f P r o p . &c.
S u r p lu s
$738,820
1917..... 81,417,832
$106,225
8417,816
$367,421
560,905
46.563
1916 ----- 1,293,595
649,936
129,317
493,146
1915 ..... 1,269,392
626.724
52.600
202 121
This Includes tho equity In the not earnings from subsidiary corpo
rations, whether actually rocolvod Iu tho form of dlvs. or not. The amount
added to surplus account of sub. cos. not declared as dlvs. was $189,374:
from tho last-named amt. and the previous accumulations of surplus of
sub. cos., there wore charged during the year various amts, on acc't of
extraordinary expenditures not directly applicable to the operations for
the year, of which the proportion corresponding to the holdings of this cor
poration I $90,700.
s
* Represents in 1917 profits from dealings In securities hold, including
S140.000 appreciation on holdings of a subsid. co. s i l owned by the cor
tl
poration, less sundry charges. In 1916 and 1915 represents appreciation
In value of certain properties s i l hold by tho corpoartion or i s sub. cos.
tl
t
„ , .
Subsidiary Companies.
.
q u lsitlo n s , ex te n s io n s , im p r o v e m e n ts , & c ., an d ca n o n ly b e Issued f o r 8 5 % o f
c o s t o f s a m e . D e m a s D o m in g Is also tru s te e . $ 1 ,3 0 0 ,0 0 0 o f C o lo . S p g s.
L . , H . & P . C o . 1st
r e f. b o n d s reserved t o retire u n d e rly in g b o n d s a n d
$ 88 3 ,0 0 0 a re fo r a d d itio n s , e xte n sio n s. & c ., a t 8 5 % o f c o s t t h e r e o f.
R e
d e e m a b le a t 105 a n d ln t. o n F e b . 1 1917 a n d a t 1 0 2 H and ln t. o n a n y
ln t. d a y th e r e a fte r . V . 9 1 , p . 4 6 0 . 1097. L e a v e n w o r th L ig h t, H e a t
P o w e r 1st M . b o n d s a ro re d e e m a ble a t 105 a n d in t . o n a n y ln t. d a t e . $ 3 2 5 .
0 00 b o n d s reserv ed fo r a cq u isitio n s a n d lm p ts . a t 8 5 % o f c o s t t h e re o f.
L o c k p o r t L ig h t , H t .
P o w . 1st r e f. b o n d s are r e d e e m a b le o n a n y ln t . d a te
a t p a r a n d ln t . $ 30 0 ,0 0 0 reserv ed t o re tire a lik e a m o u n t o f 1st M . b o n d s .
The L o c k p o r t L . , H . & P . n o te s are a d ir e c t o b lig a tio n o f th e c o . a n d w ere
Issued t o retire flo a t in g d e b t . T a x fre e in N e w Y o r k . V . 1 05, p . 5 0 2 .
O f th e W ilk e s -B a r re C o . 1st & r e f. M ., $ 3,0 0 0 ,0 0 0 are reserv ed t o retire
W ilk e s -B a r re G a s
E l. b o n d s , $ 2 ,3 9 4 ,0 0 0 fo r e x t s ., lm p t s ., & c ., a n d $ 3 3 3 ,
2 00 are In tre a s. $ 1 ,5 3 7 ,3 0 0 o f th e b o n d s o u t . are g u a r ., p . & 1., b y e n d o rs e
m e n t b y S u sa . R y . L t . & P o w . O o . S u b j. t o c a ll o n a n y ln t . d a y a t 105
a n d ln t . V . 9 1 , p . 6 5 8 . W ilk e s -B a r re G a s
E le c , b o n d s are a u b j. t o c a ll
a t 110 a n d ln t . o n 3 m o n th s ' n o t ic e .
S
c
S
c
S
c
S
c
S
c
D iv i d e n d s . —
On pref. 5 % has been regularly paid since Incorp. On com.,
in 1905. 1900 and 1907, 4 % : 1908 and 1
9(59. 2%: 1910. 4%: 1911. 4 % :
1912, 4%; 1913, 4 H % ; 1914, 4>^%; 1915, 4%; 1916, 7%: 1917, 4%.
E A R N I N G S . — Year end. Dec. 31 1917, earnings ( ess expenses), $290,
l
776: bond lnt , S22.218: pref. div., $59,790; surplus, $208,738.
.
The combined earnings of the subsidiary cos. for the 12 mos. end. Dec.
31 1916, were, gross, $3,515,526: not, after taxes, $1,405,285: charges,
$828,085: ren. and rep. reserve, $201, 537: surplus, $375,663.— V. 93, p.
1783: V. 101. p. 48.
(2) H a r r i s b u r g L i g h t & P o w e r C o .
O R G A N I Z A T I O N . — Incorp. J u ly 1912 to ta k e o v e r th e H a r r is b u r g
L ig h t, H t . & Pow. Co. and P a x ta n g Elec. Oo., whose f r a n c h is e s are p er
p e tu a l. In Feb. 1913 tho Harrisburg L t . & Pow. Oo. p u rc h a se d th e H a r
risbu rg S te a m . Heat & Pow. Co. In Aug. 1913 a c q u ir e d Steelton L t ., H t .
& Power Co. V. 97, p. 179. Serves with light and power the city of Har
risburg and the adjacent communities of Steelton, Dauphin, Penbrook.
Paxtang and Riverside: also serves the main business section of Harrisburg
with steam heat. Stock auth. and outstanding, $1,750,000 common and
$1,250,000 6 % cum. pref. stock. All the common owned by the United
Gas & Electric Corporation.
BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
H a rrisbu rg L ig h t H t & P o w e r ) 1899
S
c
5 J-J
$ 1,0 0 0 ,0 0 0 J u ly
1924
f r t mortgage_______ tf\Commonwealth Tr. Co., Harrlsb., Trustee.
is
Harrisburg L
P 1st & ref Ml 1912
5 g F-A
2,325,000 Aug 11952
$ 1 0 ,0 0 0 ,0 0 0 g ($ 1 0 0 , $ 50 0 V F id ellty T r u s t C o . , P h ila d e lp h ia , T r u s te e .
a n d $ 1 ,0 0 0 )___________ * t fc j
B o n d s . — O f th e H a rrisbu rg L t . & P o w . 1st Sc re f. b o n d s , $ 1 ,0 0 0 ,0 0 0 a re
reserved fo r p rior lien s, $ 6,6 7 5 ,0 0 0 fo r lm p t s ., e x te n s ., & c ., u n d e r c e r ta in
re strictio n s. R e d . a t 105 an d ln t. o n a n y in t. d a y .
E A R N I N G S . — Year ending Dec. 31 1917, gross, $898,929: net, after
taxes, $459,926: charges, $168,363; surplus, $291,563. V. 105, p. 2459.
( Consumers’ Electric Light & Power Co.
3)
Operates an electric light and power system in N e w Orleans.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $1.000.000_______ All owned by United Gas Sc Elec. Corp.
Preferred $500,000 (7% cum).....
Q-M
$500,000 Mar.’ 1*4
18.
First mtge $2,500,000 gold/ 1911
5 g J-J
1.569.000 Jan 11936
($100, $500 and $1,000)-C*\lnt. at Columbia Tr. Co., N. Y.. Trustee.
S to c k . Preferred stock 7 % cum. from April 1 1913.
—
B o n d s . — $31,000 In treasury. Remaining bonds are for extens., lmpt.
and betterments. Subj. to call at 105 and lnt. N o sinking fund.
E A R N I N G S . — Year end. Doc. 31 1917, gross. $369,368; net, after
taxes, $172,790; charges, $80,696: surplus, $92,094.
( Houston Gas & Fuel Co.
4)
Entire com. stock i owned by United Gas Sc Elec. Corp. Does entire
s
gas business of Houston and vicinity. Has acquired Houston Gas Co
F r a n c h is e runs until June 30 1940 and fixes the prices for gas at $1 per 1,000
cubic feet.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
C o m m o n $1.500,000______ - — —
........SI.500.000 M a r ’ 1 %
18
Preferred (7% cum) $550.000----7 Q-J
550,000 M a r '18,1 H
5 M-S
580.000 Sept 1 1932
Ref & lmpt M $6.000.000--- 1912
Houston Gas f r t mortgage__ 1905
is
5 M-S
961.000 Mar 1 1920
ST O C K . — Preferred stock I callable at 110 and dividends.
s
B O N D S . — Additional bonds can bo Issued only for 8 0 % of cost of extens.
and lmpts. when annual net earnings are double the interest on bonds,
including those to be Issued.
C a le n d a r
G ro s s
N e t (a fte r
F ix e d
B a l. f o r
E A R N I N G S . — Cal. year 1917, gross, $582,666: net, after taxes, $230,
Y ear—
E a r n in g s .
M a in t-.& c .) T a xes.
C h a r g e s.
R e n e w ., A c .
1917.....$16,287,276 $7,288,947 $1,156,371 $3,575,989 $2,556,587 184; chargos, $82,261: surplus, $147,920.— V. 96, p. 289: V. 106, p. 818.
1916 ...... 15,160.156
7.428,909 967400
3,503,166
2,958,643
( ) Union Gas & Electric Co.
5
6,673,958 809,660 3.432.308
2,431.990
1915 ...... 13,472,277
O R G A N I Z A T I O N . — Incorp. July 6 1899 under the laws of Illinois for
99 years. Acquired physical property, franchises and capital stock of the
Bloomington Gas Light & Coke Oo. and the Citizens' Gas Light & Heating
Co. All com. and prof, stock owned by United Gas Sc Elec. Corp.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
602, 1127, 1462, 2015, 2115.
___
_______ _
$750,000 ____ ____
C o m m o n stock $750,000-.—
( United Gas & Electric Co.
1)
2nd pref stock (7%) $250,000 ___
7%
250.000 .........
O R G A N I Z A T I O N . — Incorp. In Dec. 1901 In N e w Jersey. All the com 1st pref stock (7%) $50,000------7%
50,000 __________
mon stock was acquired by the Susquehanna Ry. Lt. & Pow. Go., which 1st mtge $750,000 ($1,000) — / 1905
5%
602,000 Sept 1 1935
on June 0 1912 was consolidated with United Gas Sc Electric Oorp. Owns
lint, at First Tr. & 8av. Bk., Chic.. Trustee.
and controls the following gas and electric properties:
B o n d s . The $93,000 additional bonds can be Issued for 7 5% of cost
—
Olt. Gas & Fuel Co., Terro Il’ o, lnd. I
t
Lockport (N.Y.) Lt. Ht. & Pow. Oo. of extens. & lmpts. when net earnings are twice lnt. on bonds, Incl. those
Oolo. Spgs. (Ool.) Lt. l t Sc Pow. Co. Richmond (lnd.) Lt. Ht. & Pow. Oo. to be issued, lied, at 105 and lnt. on any lnt. date. Ann. sink, fund of
i.
Leavenworth (Kan.) Lt.. II. & P. Oo.| Wilkes-Barre (Pa.) Oo.
5 % of gross earnings on and after Oct. 1912. Up to Mar. 31 1918 S55.000
Also controls the Elmira Water Lt. Sc RR. Oo.. which see under “El retired.
mira. N. V .
”
E A R N I N G S . — For year end. Dec. 31 1917, gross, $175,905; net, after
In July 1915 disposed of I s holdings of common stock In tho Hartford taxes, $48,953; charges, $12,523; balance, $6,430.
t
(Conn.) City Gas Light Co. V. 101, p. 50. During 1915 tho elootrlc
department of tho Richmond Lt., Ht. & Pow. Oo. was sold to tho city of
(6) Utilities Oil & Refining Co.
Richmond, lnd. Tho stock Investment In tho Altoona Gas Lt. & Fuel Oo.
O R G A N I Z A T I O N . — Incorp in Maine In 1917 to finance the purchasa
was written off, tho company having failed to moot I s interest chargos In by the United Gas Sc Electric Corp. of a half-interest in the o l and gas
t
i
1915. duo to natural gas competition.
leases covering a valuable producing property of 514 acres in the Augusta
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
pool of tho Kansas o l fi l , tho remaining one-half being owned by the
i
ed
Stock common $4,000,000.......
........ $3,621,000
See text;
Magnolia Petroleum Co. (V. 104. p 1390, 1268). The o l company issued
i
Stock preferred $1,500,000.......
J-J
1495,800 Jan T8.2H 8O.0OO shares of capital stock of $5 par value and $2,000,000 5-year 1st M .
s
First mtge $3,000,000 ($500)7 1902 5 g J-J
443,500 Jan 11922 7 % bonds dated Apr. 1 1916; mortgage trustee i U. S. Mtge. & Trust Co.
and $1,000) gold---- cntf\ Interest at N e w York Trust Co., Trustee.
Int. payable quarterly. Denom. $1,000 and $100.
SrcurtriM o f c o n tr o lle d g a s a n d e le c tr ic c o m p a n ie s —
The majority of the co.'s stock i owned by the United G. & E. Com.
s
Olt G & Fuel 1st M $500,000 tf 1902 6 A-O
283,000 Oct 11922 The $2,000,000 bonds have been exchanged for 7 % Purchase Money Ctfs.
S2.
- 1910 5 J-J
668.500 Jan 11960 of Indebtedness o f the U. G. & E. Corp. secured by a like amount at par
i
00().000($100,$500&$l,000){lnt. at N o w York Trust Oo., N e w York. of the o l company bonds and having no maturity except upon the dissolu
rod as a whole® 105&Int.tf
tion or winding up of tho corporation. The certificates of indebtedness
Tru8tee.
Ool Spgs El Oo IstM($1,000,- 1900
5 A-O
1,000,000 Apr 20 1920 are red. in whole or In part at the option of the corporation, on s.-a. periods
000) red at 110 & lnt_e*tfINew York Trust Oo., N e w York. Trustee. at (or, i purchasable, at a less price) 101 and interest on Jan. 1 1918 and
f
Ool Spgs Lt & Pow 1st mtgof 1899
5 A-O
300,000 April 1 1919 an Increase of 1 % premium on each July and Jan. thereafter until 110 has
$300.000($500&$ 1,000) ctf lint, at N e w York Trust Oo., N. Y ’, Trustee. been reached, and thereafter at 110. For description of the o l co.’ prop
.
i
s
Ool Springs L II Sc Power 1st f 1910
5 g F-A
1,284.000 Aug 11920 erty, estimates of earnings, &c., see V. 104, p. 1490.
&
goldjlnterest at N e w York Trust Co., Trustee.
($100. $500 & $1,000) _c*tf
M . N. Buckner I also Trustee.
s
CITIES S E R V I C E C O M P A N Y — A holding company.
Leav L II & P 1st M $1,000. 1908
6 M-S
675,000 Sept 1 1923
O R G A N I Z A T I O N . — Incorporated In Delaware Sept. 2 1910 as a hold
000 ($100 ,$500&$ 1,000)c*tf lnt. at N e w York Trust Co., N. Y., Trustee.
ing company, per plan in V. 91, p. 650, and acquired control of Denver Gas
Lock G & E) 1st M $300,000 ,1900 5 F-A
300,000 Feb 11920 Sc Elec. Light Co. (see that company) and the Empire Dist. Elec. Co. Or($ 1,000) ................ .......... ctf lnt. at Tr. Oo. of Amer., N. Y., Trustee.
anlzed and managed by H. L. Doherty & Co., N e w York. V. 102, p.
Lock L H & P 1st ref $750.- 1908 5 J*
J
450,000 Jan 1 1938
077. Under a re-arrangement of properties made in
000 ($500 & $1,000) c'tfllnt. at N e w York Tr. Co., N. Y.. Trustee. control of the St. Joseph (Mo.) Ry., Lt., Ht. & Power March 1913 acquired
Co., Empire District
Lock L, H & P notes $350.000( 1917
6 g J-J 10
350,000 July 16 1918 Gas Co. (subsequently dissolved) and Danbury Sc Bethel (Conn.) Gas &
g ($500 and $1,000)
c\Int. at Equitable Trust Co., N. Y., Trustee. Electric Light Co. V. 96, p. 656, 718.
Rich
r1911
8 M-S
188.300 M a r 1 1939
On
the directors of the Cities Service Co., Consolidated
000($100,$500A$1.000)c&rtf lint. at N e w York Trust Oo., N. Y.. Trustee. Cities Dec. 11 1913 Sc Traction Co. and Utilities Improvement Co. unani
Light, Power
red @ 105 Sc Int________ j Deraas Doming I also Trustee.
s
mously confirmed a proposition submitted by Cities Service Co. to acquire
Rich LII & P notes $l,500,000 1914
0 g M-S
450,000 M a r 1 1919 tho other two companies, as stated In V. 97, p. 1732. By this plan the
($1,000. $5,000 & $10,000) lnt. at Penn. Co. for Ins., &c., Phlla., Trus. stockholders of U tilit ie s I m p r o v e m e n t C o . surrendered (1) their pref. stock
red at 101 Sc lnt---- c&rtf
Deraas Doming I also trustee.
s
and received Cities Service Co. pref. stock therefor, share for share: also
W - B O o IstArefM $7,600,000 1910
5 g J-J
1.772.800 July 11960 (2) their common stock and received one share of common stock of Cities
g($100.$500&$1.000)c*&rtf lnt. at Girard Tr. Oo., Phlla., Trustee.
Service Co. for each two shares thereof. Stockholders of C o n s o lid a te d C itie s
W-13 G & I 1st cons M $3, 1905
S
5 g J-J
3,000,000 Jan 11955 L ig h t, P o w e r & T r a c tio n C o . likewise surrendered their stock and received
000,000 g_
.
,______ ($1,000)..c*&rtf Int. at FidolBy Trust Oo.. Phlla., Trustoe. one share of Cities Service Co. common stock for each two shares thereof.
Of tho bonds listed above, $428,700 aro in tho treasury.
Tho 6 % bonds of Consol. Cities Lt.,Pow. Sc Trac. Co. remain outstand
B o n d s — Citizens’ Gas & Fuel f rst mortgage of 1902 I a closod morti
s
ing and are guar., p. and 1 , by the Cities Service Co. See full particulars
.
ge. Of Citizens’Gas Sc Fuel fir t and refunding mortgago bonds, $283,- regarding the Consolidated and Utilities companies In the Issue of this
s
O are reserved to retire underlying bonds and $1,147,500 are for ac Section for Sept. 27 1913.
§
00
IU.
[V o l . 106
<J»-d>© @ 0#
©
O
.
E L E C T R IC R A IL W A Y S
Ma y , 1918.
E L E C T R IC R A IL W A Y S
1926. Soo V. 102, p. 1542; V. 103, p. 1034. Tho o i i o stock of the en
rtr
larged co., oxcopt illroctors shares, I owned by the Cities Service Co
s
Proceeds of tho now bonds woro used to rotlro tho S7.000.000 Cities Sorvico
Co. 7 % conv. notos (called for payment on or boforo July 12 1916), and
underlying bonds and provide for extensions, &c.
Acmo Power C o ________
In July 1916 acQulrod the Crow Levlek Co. of Phlla., operating producing
*Alliance das A Power Col
Preferred stock______
States.8 Vad103 p b
406n 768T0341
08
P°nUa' ° h,°’ ° k,a' a“d °thor Arkansas Valley Gas C o __
’
432,500
-----
GM^^Eh'llft. Co. (V f lCl^kp? 199* J^^ntgom^ry ^ t.8&C
Water*Power *00*
v M ?
oiti:
ino(nn0V^'l027 p) 2 oV7XChang° ^ ° ,t,e3 Sorvlce prof’stock undor offer
,
As of Sept. IS 1916 acquired over 7 5 % of the outstanding common and
preferred stocks of the Toledo Trac. Lt. A Pow. Co. in exchange for 35%
Cities Serv. pref. and 7 % com. stock for each share of Toledo common
and share for share for preferred. V. 103, p. 1119.
In Nov. 1916 contracted to acquire the Kansas Natural Gas Co. and I s
t
subsidiaries through the Empire Gas & Pipe Line Co. V. 103 d 2078
Receivership of^the Kansas Natural Gas Co. was terminated June 2 1917.
1917 the Empire Gas Fuel Co. was incorporated in Colorado with
5500,000 capital stock, a l owned by Citios Service Co., to develop o l loasos
l
i
in Wyoming, Utah, Idaho, Arkansas, Washington, Ac. V. 105 p. 72 In
July 1917 purchased tho Standard Asphalt A Rofg. Co. at Ind’
opondonco
Kan., from tho Armour interests, and organized tho Atlas Chemical Co ’
which sells gas to tho Tolodo Kys. & Lt. Co.
’
’
In April 1918 the co. controlled over 100 gas, electric light, heat, power,
water and o l producing and refining properties, operating in 23 States of
i
the United States and the Dominion of Canada, and serving over 200
communities.
s
During 1917 also acquired tho Korea pipe LhuTco. and Venture’
Gas*Co^*
I n Dec. 1917 the Cities Fuel & Power Co., a subsidiary brought o i
tt
$10,000,000 2-year 7 % secured notes, guar., prin., Int. aud^ink^fund by
tho Cities Service Co. See offering in V. 105, p. 2274.
’ y
Keiow will bo found tables giving a complote l s of the subsidiary
it
companies with the outstanding capital stock and bonded debt of each and
the amounts thereof owned or contracted for by the Cities Service Co The
holdings of the Consolidated and Utilities companies are included In these
fables, having beon taken over by the Cities Service Co. as of Nov. 1 1913°
Ruin M a y 1914 shareholders ratiriod an Increase In the stock from *5n non
n n n (530,000,000 pref. and $20,000,000 common) to $65,000 000 ($40 000 000 pref. and $25,000,000 common). On June 29 1916 authorized stock
was furthor increased to $100,
000,000 ($60,000,000 prof, and $40 000 000
common). On Apr. 3 1917 shareholders ratified a furthor increase in'an
thorized stock to $150,000,000 (S100.000.000 prof, and $50,000 000 con?)
In Nov. 1915 sold $5,000,000 pref. and $2,500,000 com. stock’ a syndito
V.1oi"pf i62°7?2071^ &
°0
^Pltal
1412. 1301
In Fob. 191.8 issued $3,000,000, Series “B ” 7 % conv debentures to
provido for future requirements. V. 106, p. 1126.
In Nov. 1917 i was announced that tho directors deemed i an inont
t
portune timo for the consideration of a radical change in any of the aFs
polic e and so did not act upon tho proposition of applying fbrthe listing
s,
of Cities Service stocks on the N. Y. Stock Iixch. and the reduction of
abolition of tho par value of tho common stock.
reaucuon or
S to ck ,
c
^c..
31 1918.
O u ts ta n d in g M a r c h
C o S U ^ l K o f l i :
° T :
Mo”
®
’ *$^122%
Co n v ^ d e b ^ S ? ^ ^ ” °$g0 0 - 1916 " W t
0d00l
000 g (red. at 102 A I
nt.) tf/Central Trust Co
N o w 4Yorkl
DiMsfeYo^’
Janl 1 T'«
1966
* Including $5,873,098 common stock and $2,739 '
303 prot. soock in
pref stock in
company s treasury.
'
hi tod dlvs. on both classes to and Incl. Jan 1 li)lflDamnnnHni
S S f W .f t i s
7. BSi.'HSiSSblWjite
A ccum u-
?<'.«* S S J f S J Vwere
sr
paid
};,!!?'
i VU9,
both Inch M onthly cash divs. o f >4 % *on"com l,^ r o
A dlv. o f 2 % in com . stock for the year 1915 was naM ?hlU 0d
™
on Sept. 1 1916 and a 4 % stock d lv . for 1916w a s p a ld * n e e T
W m O P n S %
Stock
(making 9 % Tor 1918) aro now being paid a i n ™ V v T , , d?vs of J?%
? T
dividends, and stock dividends will boP increased
regular cash
after, „so long as tho company’u earnings warrant °C^h dividends
s
— in k restricted to n or until such time as tlinnn'h^ Cash d iv 'don^3
.... .
warrant.
will bo
6%
the property of Cities Service Co., or i s s u b s i d i a r i e s “J lnvusted il1
t
nf t e enmnanv a sum nm.nl tn thi entire par v l infrom the earnings
h.
of the company, a sum equal to tho
a . ’ Ar
__ e
x
i
then outstanding, unloss tho co. shall for a period offi^ew h ? i
and retired al pref. stock that can bo piichMed ln The’
l
nnJ,
110 or l s . See V. 103, p. 1301; V. 104 p 1387? V inn ^P ox^ uvfe at
os
C o n v ertib le 5 % D e b e n tu r e s , S er. " A . " — DonomT (1 ) muiimhniv?.' «i3nho
i t. J. A J ( registered bonds, $5,000, $1 000 85 f ) n ° i ncl ®I’
n
.; 2)
S' 999,
by chock, at buyer's option, either monthly a ®500 or 8100,int. payable
Jan. 1 ( registered bonds, .810 or multiples thereof ' e s thaPr
; 3)
ls
«?nnU?ny
't
payable annually Jan. 1 All int. payable wlthmit
.
S,
100’ ,nt;
Foiloral Income tax. O o q v . into stock prior to Jan 1 iqoq nn «u » , i
Conv.
jJm
e
<mCnPU .0f ,
f
h normal
si'r) com. stor*k of Cities Hervlco
l.ii
<ss
1 share of pref. and « share coin stock nr piMna y.* , Co on tho b i l of
nar value, of deb. bonds. Additional
par value, of deb. bonds. Additional amounts — a y ^ l SU 0^ IOr^ e r i: ^ i
m ...VC0. u -‘n each w
nder
restrietiona
. ^orlos (a[
series ( lj
al
with the same maturity) under certain restrictions anv
conv. privileges ( f any) attachod to l and boar such^ato^r ^nfhavo fuch
I
t
ceedlng 6 %. as may be determined at time of lssuanco V i m
C on v ertib le 7 % D e b e n tu r e s . S er. ‘ | . ,
• ) ’--Donom and int
?144’
as Ser. "A,” which soo abovo. Each $100 of principal'
t samo
vortiblo, at option of holder, on Jan. 1 1920, or on the f rstd w S l c0! *
i
s
i
thereafter, into $80 par value of prof, stock, and $20 oar v \ u u ? , ,e Xy montlx
stock, together with an amount of cash and stock equal to the dlvT m i d
on an equal amount of common stock from Jan. 1 1918 to / , , .;,) r pala
h, . V
version Callable, all or in part by lot or by distinctive ?nbors at ^
and in . on 4 weeks notice. If called for rod. the rbhf t i „„„ac t ,
t,
l
socurod for at least 30 days prior to red. dato. Additional
i
s
bo issued with conservative restrictions. Interest payable
duccion of tho normal Fodoral income tax. .V 106. p. 1126.
1 hout do*
B o n d s o f C o n s o l. C itie s L t . . P o w e r A T r a c tio n C o — These bonds r„m,L
as a lien on the securities pledged therefor (see • in the table
The bonds are subject to call at 106 on kny intwost day and are
anteod. principal and Interest, by the Citios Service Co. From - are.8. aru
antueu,
aim interest. Dy tno CHIOS
Ian i into
r.sss s s f f ^ r s a s ' . w j s w i S
E
f f i S
S
i
A t h e n s ^ & E fo b " b o ” ”
“Stock—
Cities Service
Am ount Cities Sen Company. Outstanding, ice Co.
5
Atlas Chemical Co __ _
Bartlesville Gas & Oil Co I
*'
Bartlesville Int. Ry. Co __
369*000
Berea Pipe Line C o ______
225,000
•Bristol Gas A Electric Co.
425,000
Brush Electric C o _______ 1,265.000
•Cent Ohio Gas & Elec. Co . 400,000
Buckeye State Gas A Fuel
Columbus Nat. Gas Co._
38,205
42,000
Coshocton Gas Co _____
Preferred stock______
Mansfield El. Lt. & P. Co
Mansfield Gas Light Co.
*20,000
Preferred stock____
Medina Gas A Fuel C o ”
2df)Todd
Citios Fuel A Power Co.. 10,000 000
American Pipe Lino Co.
Franklin Co. Pipe L. Co
”
Glonwood Nat.G.Co.,Ltd
Mfrs. Nat. GasCo.,Ltd.
*"
Securities of sub. co
Sentinel Oil A Gas Co .
*1
•City Light A Traction Co. 815.100
Preferred stock_______
♦City Light* Water Colli n55*0.000
Proferrod stock__
Grow LevickOo--- ” ” ” 3,246*365
Sub. Oos. securities__
•Oumb.&West. El. Ry. Co. 6 5 5 , 0
***60
Danb. A Beth. G.AEl.LtOo
156.000
Denver Gas A EL Lt. Co..12,855,150
;
•Dominion Gas C o ______ 4.820.000
85 000
Brantford Gas C o _____
Beaver Oil & G.Co. .Ltd.
Domin. Nat. Gas Co.,
LtdIngersoll Gas Light Co..
30,666
United Gas Cos., Ltd
Woodstock Gas Lt. Co..
*50*666
Durham Traction C o ____
466 600
Preferred stock
’
Electric Bond DeposltfCo”
Preferred stock___ _
Empire Dlst. Elec. Col” ! 3.498*666
Preferred stock..
Sub co. securities” ” ” 1,18*1*600
Preferred stock
Empire Gasoline Co
Empire G. & F. Co. (Co * )
l..
Empire Gas & F. Co. (Del.)22,737 * 0 *
00
Securities of sub. cos
Empire G.&F.Co.,Inc.(Va)
Empiro Gas & F.Co. (Mo.).
Texas Distributing Co..
Empire Gas & Pipelino Co.
"
Einpiro Oil & Gas Co., Inc
....
Empire Petroleum Co..
Empiro Refining C o _____ 9.621,5*00
Sub. cos. securities____
___ _
Sub. cos. securities pref.
Fremont Gas, El. Lt. & P
41*066
Frost Gas C o ---------29,500
Securities of sub. cos ..
Glonwood Natural Gas Co.
300 666
Ilavolock Elec. Light Co..
10,000
Knoxville. Gas C o ______
475.000
.....
-----
-....
.....
..........
.....
.....
419.000
--------.....
..........
..........
..........
..........
..........
..........
$
a400,000
a80,000
alfl.OOO
a7.300
636.500
698.500
.....
<1400.000
5,400,000 al0,000,000
.....
a50,000
--------
---------
--------
-----
%
a500,000 ......
o550,000 99.872
a365,400 533
.......
99
“ joO.OOO 100.00
98.906
<1300.000
al,000,000 lOO.Ob”
C300.000
99.958
99.808
C143.550
C250.000
99.808
O300.000
99.1867
a2.000.000
99.865
a2,500,000
99.916
a200,000
100.00
d50,000
a750,000
aSOO.OOO
a200,000
c66,755
214,200 a l,000,000
99.93
..........
a400,000
5.4
300.000 al.000.000
99.85
..........
alOO.OOO 100.00
.......... a3,001,500 100.00
..........
1,138,500
.........0625,000
90-936
...........
C400.000
99.938
37.000 al0.000.000
99.987
570.000---a3,000,000
99.983
-----
cl21,820
al,250,000
a40,000
.
a300,000
.
<86.120
'
.
O300.000
97.8
,
O200.000 100.00
. al,500,000 100.00
al,500,000
99.4
7,4491 a3,000,000
99.95
al,003,900
.004
15*666
a430,000
alOO.OOO
. a2 ,
000,000 100.00
a 1,700 100.00
al2,500,000
99.978
12,454,000
a1 ,
000,000 100.00
al ,
000,000 100.00
alOO.OOO
a5,000 100.00
alO.OOO.OOO 100.00
a2 ,
000,000 100.00
alO.OOO.OOO 100.00
a 10.425,000
400,000
ai36.300
73.367
a99,600 100.00
a210,000
300.000
a750.000
99.933
al5,000
**66
2,6*
a300.000
99.90
alOO.OOO
30.000
aSOO.OOO
25.5
2,181,200
19,300
97.5151
750,000
99.933
a500,000
99.86
«249.800
139.000 a2 .
000.000
9*9*. 6 *
95
106.000
a500.000
494,400 al.658,100
99*.9155
50,000
a300.000
50.00
al,300 100.00
al.000.000
99.95
a3,600.000
94.9743
.... . a i56o.000
19.23
_____
a500.000
99.90
129.000 a4,000,500
99.9875
orn’
XXx
VV-.XcXX
350,000
a500.000
99.9
84,000 a2.000,000
99.935
a300,000
99.500
50.000
a392.600
65.078
a7,966.250
94.0518
a6.661.67 5
95.78
133,597
a 13.875.000
4.539.000
al,500.000
99.42
a200 000
9) .
l"9
0700.000
a350,000
50.00
a25,000 100.00
13.000 100.00
250.000
99.7
0500.000
11,000
a300 000
99.833
al75 000
99.6
100,000
alOO 000
99-50
311.000
1,500.000
Lorain County Electric Co.
750.000
•Massillon Elec. & Gas Co.
533.000
Preferred stock____
•Meridian Light & Ry*. Col 1,783.666
Hattiesburg Trac. Co...
573,000
Montgomery L. & W.P.Oo. 2,350,000
Pueblo Gas & Fuel Co..
613 000
Republic Construction Co.
.
Reserve Gas Go__ .
St.JosephRy.,Lt.,Ht7&POo 5.7517666
= f roiorreu bcock .......
, Preferred stock____
....
I 3allna Lt., Pow. & Gas Co.
200.000
l Okla. Gas AO5•, , < 350 006
0r
^
Lt
I Southw. A S nt^Pa8. F. Co.,3,98t,00°
sSpokaue Gas A Fuel Oo__
864,000
Preferred stock___
550*.o66
Sub. cos. securities____
Preferred stock___ . .
Summit County Power do!
333,666
Toledo Trac. Lt. A P. Co.. 8,699.000
Prefernwl stock_______
____
Securities hold for exch
_ ”
Toledo Rys. A Lt. Co. .1 . 9 , 5 0 0
484****
Other sub. co’ securities 3.325.000
s
•Trumbull Pub. Serv. Co. 1,119,100
Preferred stock__ _
dotted Wat., Gas A El.*do7 1,203'.565
I P , orred stock-------T r ef
Utilities Construction Co.
Vonturo Gas C o _______”
II” '*
Yaslilta Gas A Fuel Oo._*_” 256.1)66
Watauga Power C o ______
300.060
Western Distributing Co_
Western Okla. Gas A F.Co.
l
66*,666
Jonsol. Cities Lt. P. A Tr.
Co. bds. secur. by pi'geof
com.stk. In cos. marked*10.000.000 al,067,600
250,000
100,000
-----------135,868,350
9,794,949 176.492,639
.....
n i i n n n n m f ovTn0d
tdeeo companies l largely pledged to secure the
s
<10,000.000 bonds of the Consolidated Cities Lt.. Pow. A Trac. Co.
m . ades$250,000 1-yr. secured notes due Sept. 1 1918 (V. 103 p. 848)
* rUo controlled companies of the Dominion Gas Co., which owns a l of
l
their capital stock except $97,540 common, and a l of their bonded debt
l
except the n»« (in here ) , n r n the n i i 1'»r Cr V," <A was co..
amounts 7 h shown, are m following: Beaver Oil * Gas Co.
Brantford
5
s*
■
0. n
«..-
either (1) In retiring these bonds at or under 105 or (2) in purchasing^onds I 3 u m m a r u ° f Uapilal S tock a n d F u n d e d ^ D e b t^ S u b . C o s . a s o f Dec_. 31 1 9 1 7 .
C orn. S tock . P r e f . S to ck .
of companies whose stocks form part of security for present snri»a a m
serhw
B o n d s O u t.
lty
am
$
bonds so retired or purchased will be kept alive for skg. idfsublect to m i
f
$
$
pany’ right to re-issue such last-mantfoned bonds to a nominal amn,?n^* Owned directly by Citios Serv. Co...110,717,255
s
8,398,656
9.794.949
equal to 50% of I s expenditure under (3) above. Maryland1
t
ami p ™ ’ Securities owned by sub-holding cos. 46,976 440
739,275 25,817,400
State tax refunded. See also V. 95, p. 679, 110; V. 103. pf 1983 and ioni1. Bonds and funds in sinking f u n d ___
1,042,197
Outstanding in hands of public_____ 3,685 869
5 9 7 * 144 99,213,804
,*5,
First lion mtge, gold (seef 1912
5 g J-j X$10 00(1 I 10 b i w i iono
K
'l
text) ($100. $500 A $1.- Int.atofficeof H.£.^Doherty A Co m 1 ^02
Total....................... 161,379.564 15,113,075 135,868.350
_
000 or £Iequivalent)c*tfl or Lloyds’Bank. Ltd. London °" N ‘ Y ”
E A R N I N G S O F CITIES S E R V I C E CO.— For tho 12 months endor*
810,000.000 auth-----(Baukers Trust Co., N e w York T u n i a m
enaint>
x $1,067,600 of this amount L owned by Citios Service Co
s
™ T c e Doc. 31 (annual roport for 1917 in V. 106, p. 1336, 1368 )
Toe "earnings’ as nere snowa Include ooth cue dividends and iuteresc
’
000,000 pledged under mtgo. of Cities Fuel A Power Co
°" aud ®1'
*
received aud the company s proportion In the undivided surplus earnings
......... ..
86
E L E C T R IC R A IL W A Y S
of the subsidiary companies for the periods In question, based on I s holding
t
In said companies.
„ ,,
, ^
--- M o n t h o f D e c . --- - — 12 M o s . e n d . D e c . 31—
1916.
1917.
1916.
1917.
SI,570,820 S19,252,493 $10,110,343
Gross earnings_______SI,712,684
357,229
239,390
20,310
Expenses___________
30,258
Net earnings________81,682,426 $1,550,510 $18,895,264 39,870,953
314
2,862
258,960
Int. on notes and debon.
227
277,650
3,712,695 2.409,691
Preferred dividends___
332,294
Net to common stock
and reserve______$1,349,605 $1,272,546 $15,179,707 $7,202,302
[Vol. 106.
(а) Hattiesburg Traction Co.
Meridian Lt. A Ry. Co. owns a l the stock.
l
O R G A N I Z A T I O N . — Organized In 1905. Sept. 2 1907 purchased Hat
tiesburg Gas Co. and Hattiesburg Light A Power Co., giving company
control of gas, street railway and electric-light business of city. Street
ry. fr a n c h is e 25 years from 1906. Has franchise for lighting city streots.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
ls^mtge0 $300,000'7$T.666)[ 1908
6 J-j""
*2503)00 Jan 1 1928
gold-___________ c*cpt\Standard Trust Co.. N e w York, Trustee. J
Gen lion mtge $2.500.000 gold I 1912
J-J
,
318.000 July 1 1953
.
($1,000). ..... -.c.cptllnt. at National City Bank of Mobiio, trustee
B o n d s . — Skg. fd. retires 1st mtge. by purchase $5,000 bonds annually, be
C o m b in e d I n c o m e A c c o u n t o f S u b s id ia r y C o m p a n ie s .
ginning Jan. 1 1909, at a premium up to a 5 % basis; bonds cannoti be called.
S u rp . fo r
C a le n d a r
G ross
N e t (a fte r
I n te r e s t
P r e fe r r e d
V. 87. p. 97: $50,000 have been retired. Or gen. Hen bonds, $300,000 are
C o m . S tock .
Y ear— ■
E a r n in g s .
T a x e s , & c .)
C h a rges.
D ie s .
reserved to retire 1st mtge. bonds. Bonds are callable at 105 A int. on any
1917______ $69,634,872 $25,454,032 S5,976,506 $3,943,947 $15,533,580
in . date. Int. at office of trustee and office of H. L. Doherty A Co.. N. Y .
t
16____ ____ 48,052.573 19,143,927 5,076,074
656,670 13,411,183
_
O P E R A T I O N S , AC.— As of Dec. 31 1917 owned 374 miles of track: 849 Sinking fund, 1%, began July I 1916.
RO
cars; 1,631 miles of artificial gas mains (on 3-inch basis); 3,818 miles or 1909.A D . — Has completed 7.34 mllos of track. Began operations Sept. II
N o w power house, 825 k.w. capacity, put in operation Sept. 2 1909.
natural gas mains; 1,914 gas wells, and 2,655 o l wells. During 1917 carried
i
OFFICERS.—
IV. Frueauff, N.
115,657,669 passengers, sold 3,080.584 M . cu. f . of a
t
rtificial gas, 42,355,746 I . I . Scott, N. Pros., F. A Treas., HowardY.: V.-Ps., H. F. Wheeler and
I I
Y.; Soc.
McDavid;
M . cu. f . of natural gas and 406.015,212 k. w. hours and produced 11. Wheeler, Hattiesburg.— V. 93, p. 731; V. 95, p. 679. Gon. Mgr., H. .
t
675,505 bbls. of o l
i.
„
, ,
„,
^
,
OFFICERS.— Pres., H. L. Doherty; V.-Ps.. E. Mackay Edgar, Frank
( ) Richland Public Service Co.
б
O R G A N I Z A T I O N . — Incorp. in Ohio in Oct. 1917. Controls the Mans
W . Frueauff, Thomas Carter and E. I . Johnston; Sec., Paul R. Jones
I
Treas., Louis F. Musil. N. Y. offico, 60 Wall St.— V . 106, p. 188, 394 field Public Utility A Service Co. (seo this Section for Jan. 1918), the
Mansfield Gas Co., and the Mansfield Elec. Light A Power Co., through i s
t
498, 929, 1036, 1126, 1336, 1347, 1368. 1580, 1698, 2124.
,
controlled companies servos Mansfield with railway, electric light, power
cl) Athens (Un.j Railway 8 Electric Co.— A trolloy road.
:
O R G A N I Z A T I O N . — Incorporated in Georgia on April 1 1910. Pur and gas. Railway fr a n c h is e s expire in 1925; electric f r a n c h is e unlimited as
chased Athens Elec. Ry. Co. Leased for 99 years from Oct. 1 1910 the
James White Power plant. V. 90. p. 1101. 1423. Owns and operates t0B o n d s A u th o r i z e d . — Tho P. U. Comm, has auth. tho issuance of $1,500,
t.
entire street railway, electric light and power systems In Athens. F r a n 000 1st A Rof. M. sk. f l 5 % gold bonds against tho acquisition of the
Meico power plant, and $1,442,000 against tho taking over of tho additional
c h is e perpetual. Total equipment affords 7,000 hydro-electric h. p. and
properties abovo roferred to. Of the aggregate of $2,942,000 of bonds,
3,000 h. p. from steam-turbine plant.
O u ts ta n d in g .
M a tu r ity .
$ ,500,000 aro deposited to secure tho $75O,00() notes of tho Richland Co.,
STOCK A N D BONDS—
D a te .
In terest.
and tho remainder i to be used in tho retirement of bonds of tho controlled
s
$750,000 Sept 12. 1 %
Stock, com $750,000 ($100)...............
companios or for tho acquisition of their properties.
.
Stock, pref (5%, cum) $300.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
300.000 Apr’
18,l><%
000 ($100)..................
Q-J
$500,000 --------
374.000 July 1 1 .KJ Stock $3,200,000............. ----------9
1st Sc ref M $2,000,000 goldl 1910 _5 g J-J
5 % ................ t,? c ,1 fnoo
t
sinking fund ($l,000)c*cpt Int. at Farmers’Loan & Tr. Co., N. Y.. Tr. 1st A ref sk fd gold mtgo---- 1917
" ‘
7 g F-A
7o0,000 Fob 1 1920
6 g A-O
388,000 Oct 1 1931 Secured notos $750,000 ($1,-1 1918
Athens Electric Ry new 1st 1901
000) gold.......... c.tfJInt. at First Tr. A Sav. Co., Clove., trustee.
mtge $400,000 ($1,000) Interest at Title Guar. Sc Trust Co.. Atlanta,
B o n d s . — $1,500,000 aro pledged as collateral to tho $750,000 notos due
___ Trustee, or Old Colony Trust Co.. Boston.
gold... ..........c*cpt
In 1920. Bonds have sinking fund.
, „
S to c k . — Preferred stock i redeemable at 105.
s
NOT E S . — Aro guar., prin. and i t , by the Cities Servlco Co., and are
n.
Of the 1st St re . bonds, $388,000 are reserved to retire under
f
f
lying bonds, the remainder for acquisitions and Improvements at 75% of secured by a doposit of $1,500,000 1st A ro . bonds of tho Richland l. S.
cost, but only when net earnings are 1>$ times int. on a l bonds out and Co. Callable as a whole or any int. dato at 101 A int. V . 106, p. 1132.
l
R O A D , AC.— Owns and operates 20 mllos in and between Mansfield and
those to be issued. 550,000 are In treasury.
of 1 % began
Sholby. Standard gauge. Power plant at Meico, O., with 10,000 k. w.
in 1915. Bonds are subject to call at 110. V. 93, p. 605.
,
a t
Of the Athens Elec. Ry. new 1st M., entire issue, but no lessor part, may capacity. Transmission lines to Ashland.
OFFICERS.— Pres., R. E. Burger; V.-P., W m . I . Davey; Sec. A Treas.,
I
be called at 106 and Int. See V. 73. D. 1311.
J. E. Loiseau— V. 106, p. 1132, 1502.
D iv i d e n d s . — On pref., 6 % per annum in 1904 and 1905, 514% in 1906,
6 % 1907 to 1910, 5 % in 1911 and sinco. On common, 4 K % in 1906, 5 %
( ) St. Joseph Railway, Light, Heat & Power Co.
7
in 1907 and 1908, 5 K % in 1909, 6 % in 1910, 2 % in 1912; none since.
On Jan. 1 1913 tho Cities Scrvieo Co. acquired control through acquisi
R O A D . — Owns 10 miles of track. 40-lb., 60-lb. and 70-lb. T and girder tion of over 91 % of tho common stock. Cities Servico Co. guarantees the
r i s 16 motor cars; power plants, 5,850 capacity.
al:
5 % div. on tho outstanding pref. stock. V. 96, p. 136. Seo also V. 9 1>P-366.
OFFICERS.— Pros., C. D. Flanigon; V.-P., F. W. Frueauff; Sec. A
O R G A N I Z A T I O N . — Incorp. In Missouri on Nov. 17 1895 as » too*
Treas., C. D. Cox. Offico, Athens, Gas.— V. 96, p. 1838; V. 106, p. 818. solldation of tho St. Joseph Traction A Lighting Co., People s Ry., Light
(2 Bartlesville Interurban Ry. Co.
)
A Power Co., Citizens’ Ry. Co., Union Ry. Co., St. Joseph A Lako Ry. Co.
Entire stock owned by Cities Service Co.
_
, and Wyatt Park Ry. Co. Controls tho entire eloctric light ami power and
O R G A N I Z A T I O N . — Organized Dec. 8 1905 under laws of Indian Terri
central heating business, and owns and operates the street railway system
tory. Serves Bartlesville, Smeltertown and Dewey with railway, elactric In St. Joseph, Mo., and an interurban line botween St. Josopli and Savan
light, gas and povjer. Railway/ranc/ilses expire In 1958. Electric franchise nah, Mo. Principal railway f r a n c h is e s aro porpotual; others oxplro from
In Bartlesville eiqjires in 1956; in Dewey, 1937.
1935 to 1958. F r a n c h is e for electric service i perpetual.
s
In Jan. 1917 the $250,000 (closed) 1st M . 6a dno 1934 were replaced by
During 1912 a contract was made with the Kansas City Clay County A
a new issue of 1st M. bonds to provide for future growth of business. Scc
.
St. Joseph Ry. (seo under “Kansas City"),undor which that company 9
STOCK A N D BONDS—
cars from Kansas City are operated over the tracks of this company.
$143,550 . . . . . . . . . .
Stock $250,000.... .....................
F lew M o r tg a g e . — In Oct. 1916 the Mo. P. S. C o m m . auth. the company
Int M $1,500,000 gold sk fd? 1917
6 g J-J
369,000 Jan 1 1947 to create a now issue of 1st A ref. M . sinking fund 6 % 30-year bonds, and
($1,000 and $500)---C*.tf(int. in N. Y. Logan Tr. Co., Phlla., Trus. to execute, with the St. Joseph A Savannah Interurban Ry.. a Joint mort
— Additional bonds m a y be Issued for 8 5 % of cost of permanent gage to socuro tho bonds. $751,000 of the now bonds havo been issued, of
Impts. and exts., when net earnings for preceding year were at loast 2 times which $326,000 to replace a like amount of St. Jos. A Sav. Iut. Ry. 5s
the Interest charge on bonds, incl. those to be issued. Sink, fund of 1 %
(paid off April 1 1917 at 102H and int.) and tho remainder for extensions
per annum of bonds out, and 2 % for last 10 years, or an Investment of 2 %
and additions.
„
, .
O u ts ta n d in g .
M a tu r ity .
of bonds out in exts. and lmpt8.. against which no bonds m a y bo issued;
STOCK A N D BONDS—
D a le . I n t e r e s t .
$3,500,000
See toxt
bond3 In fund to be kept alive. Red. on any int. date at 102 and Int. on 30 C o m stock $3,500,000 ($100)......
Q-M
1.560,000 M a r ’
18.1H
____
days’notice Penn. State tax refunded. V. 104, p. 255..
Prof stock 5 % cumulative! --5 Q-M
E A R N I N G S . — For year end. Oct. 31 1916. grose. $153,163; net, $58*351.
In 1914-15, gross, $131,905; not, $58,246. Annual int. charge on $350,000 FiMt^mtgo'0$(
5
$000.006'goid{ 1902
5 g M-N
5,
000,
0^ Nov i 1937
1st M . 6s. $21,000.
„
,
($1.000)..... ... c*.cpt [Interest a ; liodmond &
t
R O A D , Ac.— Owns and operates 10H miles In and between Bartlesville 1st A ref mtge ($15,000,000) \ 1916
5 g J-J
^61.000 July 1 1940
and Dewey. Standard gauge. 60-lb. ra l . The Interurban line i mainly
is
s
gold (SI.000)
____ c*.tf/Interest payable in N e w York.
on the co.’ right of way. Power plant has 1,075 k.w.; 4>4 mllos of trans
s
Bitniht . The 1st A re . mtgo. bonds aro a f rst lien on tho Intorurban
—
f
i
mission and 20 miles or distributing lines.
_ _
line botweon St. Joseph and Savanna h, M o . ,and a general lien on remaining
OFFICERS.— Pres.. I L. Doherty; V.P., F. W . Frueauff; 2d V.-P.. property, subject to $5,000,000 1st M. 5s for rot rement of which an equal
I.
W.H.Merritt: Sec. & Treas., L.A.Ramsey.— V. 104, p. 255; V. 105, p. 1801. amount of 1st A re . 5a I reserved. Additional bonds may bo Issued only
f
s
for 8 5% of cost of add’ exts.,Ac..under conservative restrictions, or for
ns,
(3) City Light & Traction Co.
,
. .
.
O R G A N I Z A T I O N . — Incorp. In July 1912 in Missouri as successor to the 8 5% of 1st M. bonds retired through tho supplemental sinking fund.
Sedalia Lt. Sc Trac. Co., sold at foreclosure. V.95,p. 419. See plan under Sinking fund, 1 % of bonds out, for purchase or red. of bonds of this issue
at 102V i, or of 1st M . bonds at 105; or, at option of co., 2 % for construc
Sedalia Lt. Sc Trac. In V. 94, p. 1058.
,
„
„
tion, acquisitions, add’ or impts. Whllo any 1st M. bonds a c out
ns
r'
STOCK A N D BONDS—
standing, tho co. must pay, as a supplemental sinking fund, an additional
$1,000,000 ........
C o m m o n $1,000,000.....................
Prer $500,000 (see text).........
......
400.000 --- ----- I% of the amount of bonds of that issuo outstanding, to be applied as above
First mortgage $2,500,000/ 1912 5 J-D....... 815,100 Aug 1 1952 sot forth, or may expend in construction 1 % of the amount of the bonus
gold sink fd (5100, $250,(Int. at offico of co. or II. L. Doherty & Co., outstanding. First A ref. bonds are red. on any int. date at 102H and Int.
$500, 51,000).....c*cpt ( N. Y. N e w York Trust Co., N Y., Trus. Trustees are Bdnkere Trust Co., N. Y., and Mississippi Valley Irust Co.
of 1% of bonds out commences Juno 1 1922; red. at 105 and i t
n . St. Louis. Legal investment for Maine savings banks. V. 103, p.1302.
Divs. on pref. wero paid for tho year 1913 at tho rate of 1%, and increased Trustees for tho 1st M .bonds are Equltablo Trust Co.,N .Y..and Missouri
by 1 % each year until 1917, when 5 % was reached. Divs. are guar, by Valley Trust Co., St. Joseph. Bonds cannot be called. V. 75, p. 1032.
Gas Securities Co. Pref. stock i convertible into bonds, $ for $» for a The 1st M . bonds aro listed on the N e w York, Phlla. and Louisville stock
s
period of 7 years under certain restrictions.
°*li)U )’id e n d s . — 5 % per ann. has been regularly paid on prof, stock since Oct.
R O A D . — Owns and operates 8.3 miles of track. 25 cars.
OFFICERS.— Pros., F. \V. Frueauff; V.-P. & Gon. Mgr., H. O. Fuours; 1902. First div. on com. stock paid Dec. 1908, 1%: In 1909, 2%; 1910, 2%;
In 1911, 2%. In 1912. Mar., >£%; Juno, >4%: 1
3ept., J4%; Doc., H % . A
Sec., Allen O'Borron; Treas., I . C. Fuours.— V. 99, p. 1299.
I
(4) Cumberland <& Westernport Electric Ry. Co.— A trolley road. dividend at the rate of 2 % per ann. was paid Feb. 1 1913 for the 2 months
O R G A N I Z A T I O N . — Organized In Maryland on April 11 1902 by special succeeding tho regular payment in Dec. 1912; dividends havo beon paid
„
„
„
Act of the Legislature, as successor to the Frostburg Eckhart Sc Cumberland quarterly since to March 1918.
L A T E S T E A R N I N G S . — For 12 months ending Doc. 31:
Ry. Has absorbed tho Lonaconlng Midland Sc Frostburg Ry. and the
G ro ss
E xp. &
N et
Westernport Sc Lonaconlng.
„
,
12 M o n th s —
E a r n in g s .
T a xes.
E a r n in g s .
C h a rges.
B a la n c e .
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
1917-_______ -.-$1,520,720 $986,238 $534,482 $287,550 $346,932
Stock $1,000,000 ($50)....... .
......
$625,000
. . . . . . . .
1916______ ____ 1,374,449 780.395
594,054
387,550 306,604
Westernport A Lonaconlng cpt 1903 5 J-J 15
225.000 Jan 15 192$
P R O P E R T Y . — 48.7 miles of city lines on slnglo track basis, 00 motor
Frost Eck A C u m 1st M $250.-1 1901 5 g J-D 15
230,000 Junel5 1926
OOOg ($500A$l,000).c*cptJInt. at Real Estate Trust Co., Phlla., Trust. and 36 trail cars; an interurban lino between St. Joseph and Savannah. Mo.,
miles long. Generating plant capacity, 7,600 k. w.; 843 miles or
Lonac Mid A Frost first mtge( 1901 5 g J-D 15
200,000 Junol6 1926 I I
$200,000g ($l,000)-.c*cpt/lnt. at Real Estate Trust Co., Phila.. trust
primary and distributing l
ines.
„ . r in „ > f
/ „.
OFFICERS.— Pres.. F. W. Frueauff. N. Y. City; V.-P. A Gon. Mgr.,
Certain of the above Issues can be called at 105.
R O A D . — Operates 25 miles of track between Cumberland. Eckhart, J. H. Van Brunt, St. Joseph; Acting Sec., J. R. Aborcrombio, St. Joseph,
Frostburg, Lonaconlng and Westernport; 60, 75 and 92-lb. T and girder
A ^ ^ f e 7 A g m ^ f S t o P k ° ^ E . W . Clark A Co.. Philadelphia. Pa.-V. 103.
r i ; standard gauge.
al
_ „
OFFICERS.— Pres., H. L. Doherty; V.-P. A Gen. Mgr., B. W . Duncan; p. 845, 939, 1302, 1593; V. 106, p. 602, 1689.
Sec.-Treas., D. P. Hartzel.— V. 99, p. 537, 608; V. 104, p. 2451.
Cities 3erv?cJCo! haTacquired 0ve°94 % of the outstanding common and
(5) Meridian Light & Railway Co.
, ,
O R G A N I Z A T I O N . — Incorp. in Mississippi in 1901 as a reorganization ” & W ® S S a ^ 3 S i J . - | 10 KlSti,U4: J.a. 3. 1913 to « - .
»3
of tho Meridian St. Ry. A Power Co. Does entire street railway, gas and
of
Rys. A
connection
the re
electric businoss in Meridian. Owns a l tho stock of tho Hattiesburg Trac. stock and bondsthatthe Tolodo per plan Lt-Co. In p. 1040, V. with p. 361.
l
company
In
96.
Co. F r a n c h is e s are for 50 years from Oct. 4 1895 for streot railway and organization of minority shareholders wore V. 95,further opportunity for a
In June 1916
given
from Dec. 1900 for gas and electricity.
,
,
„
limited time to exchange stock on original basis. V. 102. p. 2344. Over
STOCK A N D BONDS—
,
C o m m o n $5,000.000
$2,000,000
-------- 94% of the stock has been acquired.
The Toledo Rys. A Light Co. approximates 117 miles of stroot railways in
1st mtge $750,000 gold ($500\ 1904
6 g M-S
750.000 M ar 1 1944
electric lighting
artlfldal gas and a hot
and $1.000.......... c*/Int. at First Nat. Bank of Mobile, trustee. Toledo; also doos in tho city and and power, lho subsidiary tractionwater
suburbs,
com
Gon mtge sf $5,000,000 g cpt 1910
5 M-S
1.033,000 Mar 1 1945 heating businoss
ines, rho Toledo lrac.. Light
— There were $225,000 of f r t 5s outstanding, but these have been panies own about 121 miles of intorurban l
is
& Power Co. owns
and $.)00,000
deposited as collateral for the new 1st M . bonds of 1904. A
of cons, mortgage 4 l entlro $500,000 outstanding capital stock A Light Co.,
A % bonds or Maumee Valley Railways
1 % of new 1st M . bonds out became operative March 1 1906. $117,000 of
is
a l of
l
outstanding bonds are held in sink. fund. Bonds are subject to call on 60 3450 000 f r t mortgage 5 % bonds and Ry.; a the $500,000 capital stock of
the Toledo Ottawa B«ich A Northern
l the $‘,000,000 stockc
l
3
days’ notice at 105. V. 92, p. 1311. There are $181,000 gen. mtge. Toledo A Western Ry.; a l tho bonds and capital stock ($3,200,000 of the
l
each)
bonds in treasury in addition to amount reported outstanding. $750,000
has constructed
of gen. mtge. bonds are reserved to retire 1st mtgo. bonds. Sinking fund of tho Acme Power Co., which the Ottawa Park a new power station at
Toledo; entire $10,000 stock of
St. Ry.,whtch o ir in a
of 1 % of gen. mtge. bonds out began Sept. 1 1917.
short lino running to Ottawa Park, and entire stock of tho Adrian St. Ry.
R O A D . — 12 miles of track. 30 cars.
_ __
miles),
Adrian,
opa.
OFFICERS.— Pres., H. L. Dohorty; V. P., F. W . Frueauff; V.-P. (4 T r u s te e operating in r B e ttermMich.u n d * - - On April 10 1916 tho WfVi i
A p p o in te d fo
en t F
Votler&
A Gen. Mgr., I . E. Brandll; Sec. A Treas. L. H. Archer. V. 90, D. 914
I
a. T rtU t i artnnWfid riant. John Oral* trustee for a betterment fund
t
n
V. 91. p. 336; V. 92, p. 1113.
Bns
o d.—
S k gfu d
inin n
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
o d.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S kfd
in .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od.
s k gfu d
inin n
Ma y , 1918.]
E L E C T R IC R A IL W A Y S
87
f?r h£i> °I 1y; lu 2f tb0 g rS 33 weekly Incomo of the street railway lines
^
r ?St
’%
i to be paid into the fund and used exclusively for unusual betterments
s
5
d
2
F
£
* '/ sT d °K!o“ ooS-juKTsfe
pn<1317 ^urchase of a0VT equipment. V. 102. p. 1437. (CompMO V. 102. w
F r a n c h i s e s . — At an election held Nov. 2 1915 the citizens of Toledo deK ($500) p & I guar. _c*tf{ Int. at Columbia Tr. Co., True., N^^OIty.
featod the proposal togrant the company a now franchise for 25 years.
Jr,101- P- 1554- All the principal street railway franchises have expired
lst * ref. bonds are reserved to retire prior liens and
and cars are being operated without franchise. Electric light and Dower remainder for improvements, Ac. V. 90, p. 1425; V. 92. p. 1566.
and gas and heating franchises unlimited in time. Interurban roads
E A R N I N G S . — For year end. Dec. 31 1917. cross
37a- not
mostly on private right-of-way: elsewhere franchises are satisfactory and taxes, $61,194. In 1916, gross, $178,829; not, after taxes, $50,229^
a l but three extend until at least 1929.
l
y 31(
,11
R O A D . — Owns 18.95 miles of track; 45 passenger and 10 other cars.
C o m m u n i t y O w n e r s h i p P l a n . — l a Oct. 1917 tho Street Railway C o m m
and the company agreed upon a plan, which provides for the organization
B -Odell Jr.; V.-P., A. L. J. Miller Treas H B
of a now company, with a new 25-year franchise, to be called the Community
lraction Co., to which tho street railway property (exclusive of tho power ? ^ . SpM 1 4 ^ ? : » r 5 ? 6 ? V M f 0 0 . ^ . e 1 e 5 k S ’ B - " ^ | ; p H 68B ;
5l?
8
plant and electric distributing system) would do transferred. Seo V. 105,
p« 1803; V. 106, p. 716.
F a r e s . On March 30 1914 Judge Killits denied tho application to
—
enjoin tho enforcement of the ordinance providing for 3-cent faros largely
NEWPORT, R. I.
on tho ground that the matter was one for tho State courts. V 98 d
N E W P O R T & P R O V ID E N C E R Y . C O .
1073. On Aug. 14 1914 Judge K l i s on tho further hearing of ’
ilt,
tho
O R G A N IZ A T IO N .— Incorporated In 1892.
application of tho company, ordered tho city to provo that tho terms of
the ordinance were reasonable. On Sept. 12 1914 Judge Kiliita held that
the ordinance was unfair andconfiscatory and granted a temporary injunc o o ™ V T O . o o o m S ) K : . . ^ “ :
' ’ts o o o S ? tion restraining I s enforcement. A temporary fare schedule was put into Prof
t
50,000 ($ 100) no n-cum ZZZZ H i : : : : - :
150 000 ......................
operation Sept. 15 1914 providing for a 3-cent fare from 5:30 to 7:30 a. m
l8
^
KO, ¥ 00’?P A ($500) — - i 1912
5 g J-J
300,000 J uly" l 'l9 3 2
and 4:30 to 6:30 p. m., with six tickets for a quarter other hours (V 99 p
subject to call at p a r .c c p t f l n t . at Augusta (M e.) Trust C o ., trustee.
818), but the 3-cent faros were abolished In April 1916 after advance’ in
wages following tho strike. Effective M a y 9 1918 tho company instituted
a straight 5-cent faro (children under 8, 1 cent), with a 1-cent charge for
su ,
transfers.,n V. y106, ' p.nrn u rna The m * ‘vwow iwuunou c u luuiuitau u i o cents j u S i o i l l ? : : : : * 1l l ; l i g
2124. x
increase followed an increase of 6
— * *•
v
*
$S i;g g j
“ f ®
s j f - f 99
flO l* hour in P o m n n o wages.
per r in ilP I carmen s
1915-16 ..............
86,228
21.894
17.292
1.200
3.402
In Aug. 1916 the Ohio P. U. C o mm, authorized tho issuance of $330 006
car trust certificates for tho purchase of 60 now street cars.
’
Pn?J2A £ ^ ? , p5 at03..ab°.ut 1®K , lle9 o f track from N ow port to Bristol
m
On M a y 22 1913 the Ohio P. S. C o mm, sot aside the action of the City
0
Council, which (on Jan. 29 1912) granted tho company a now franchise for f n d ^ ’irder ?a1?. ll^ cara 3 m ade b y ferry 1 Provldonco: 70 and 90-lb. T
5 years, but made the flat rate of 70c. per 1.000 cu. f . for a tificial gas for
t
r
mr9a^FI5 S .R S‘"TrPre3’ ’ . Edward A - B row n, N ew port; S ec., Clark B urdick:
both Illuminating and fuel. Tho Commission allowed tho old rate of 90c
for gas for illuminating purposes. V. 90, p. 163.
' — V ^ 9 5 ?p ?lS )3 MaCOmber' Aus?usta’ M e ’ : SuPt - - Q 00. M . T ow le, N ew port!
An increase averaging about 3 7 in heating rates, effective Sept. 5
1917, was approved by tho Ohio P. u. Commission.
y
In Jan. 1918 issued $10,500,000 1st lien 7 % 2-year gold bonds to retire
NEWTOWN, PA.
maturing indebtedness, and to provide in part for additions and extensions
P E N N S Y L V A N IA -N E W J E R S E Y R A IL W A Y C O .
v. 106, p. 297.
In Fob. 1918 issued $1,200,000 second lien 7 % 3-year conv cold bonds
Controlled b y the Bucks C ounty Syndicate.
to finance certain maturing bonds and additions" V. 106, P 608?
R
^,Is wai fo™ erly the
STOCK A N D BONDS—
D a te .
In te r e s t.
O u ts ta n d in g .
M a tu r itu
Rj-t b '*t corporate 1? !VTTchanged under date o Bucks 15 ounty to Pennsvltitle
t M a y C 1917 Interurban
C o m m o n $9,200,000 ($100)................. $9,008.05 ?
y?iJ« 1
vriS”i '/ i m e- f i R ir C o ’ ^ bo Bucks C ounty Interurban was incorpor/
Pref $8,000,000 ($100) 6 % c u m ___
Seo text
7.861 675
.......
R vd
19A 3 InTrennao a? a consolidation o f the Bucks C ounty Electric
’
1st lion $13,000,000 ($1,000) f 1918 7 g J-J
10,500.000 Jan." l'l920 & i I f i f t 0L N n L ^ pet& L a m b ertv iU eS t. . y .. Y ardley M o iT lsv ille A
c*gtf lint, in N. Y. N. Y. Tr. Co.,N Y trustee
iren con
Ry. ana N ewtown & Y ardley St. RR . V . 96, p . 1555.
y
2d lien conv $1,200,000 ($100,1 1918
7 g J-J
1,200,000 Jan 11921
f
? ii S v 0n ^ a T 5 1917 (which $500,000 o the , N . J .’ ’)
x >
$500 and $l,000)-.c*g_tfllnt. in N. Y. Bankers Tr. Co N Y trustce nf 'thV1§lrnA~Pennsylv.y mrac. C o . acquiredseo under "Tfren ton$1,000,000
o the N . J.
Toledo Oas Elec A Heat Oof 1905
5 A-O
2,013J&l dct ’ 11935
n rtir
anm n £ ng *500,000 being canceled, and the stock o f tho Trenton C ity
mtge $2,500,000 ($ 1,000.]Interest at Ohio Savings Bank Sc Trust Co
$500 and $100) not red___ I Toledo. Trustee.
“ H,,m,go^C o ’ V a ? 4 tb ? Pennsylvania New Jersey Pow . A L t. C o . (now
Toledo Gas Light & Coke C o f r 1898
5 M-N
.
150,000
See text Bucks C ou n ty Electric C o .), all controlled b y the Bucks C ounty Syndicate
$150,000 ($1,000) guaran Int. at Second Nat. Bank. ToLfC. F. Adams
teed prin aud Int_______
C o m “ ' of
«*
ioni°
<l
Tolodo
Tol Heat & Ltg Co $500,000 1901 a<£°,n r Nat’ 336,000 Jau Trustee.'
5 J-J
1 1Q91
($1,000) guar prin A int... Int. at Secur. Sav. <cTr. Co., Tol.trustee
f
O o m m O T lM o S o o r n O ) !° * K,n K r“ ‘ S’
Toledo Sc Maumee 1st mtge 1895
5 g M-S
300.000M a r 1 19M
p r e { 6% cum $500,000 ( $ 5 0 ) .. r i "
6%
500,000 Z...................
$300,000 ........... :. Int. at Metropolitan Tr. Co., N. Y trustee
il T r u s t g $3,000,-1 1917
5 g F-A
1,250 000 Feb 1 1942
T A VV Ru 1st mtgo $1,250. 1901 5 g i-J
1.250,000 July 1 1926
0 0 0 ($ 5 0 0 A $ l,0 0 0 )ro d l0 2 k f l a t , at Northern Trust C o ., P hila., fisc. agts.
000 gold ($1.000) no s fand] Int. at Cleveland Tr. Co., Cleveland Trus
cannot bo called........ I tee, or at Nat. Bank of Commerco, N. Y. t ™ « ? ^ V ^ 7o '~TFo?r!,2 m o*■en^ ,I^0C’ ^ 1 1917 - Kross- *329,820; net (after
c
taxos), $51,279. In 1916, gross, S218.950; net (after $3,907 taxes), $58,2563
Tol Fay A W 1st'M"$250'.:r 1902 ” 5'g J-J
25O,0Od“July'’l Y927
l
000 gold ($1.000).....c* Int. at Cleveland Tr. Co?? OleTelmd. TruY
R O A D . — Operates 48.36 miles extending from Trenton City Bridge In
Morrlaville tlirough Yardley. Pa., to N e w Hope. Pa., and LambertviUe.
1 tee. or at Nat. Bank of Commerce.’ N. Y
398,500
’ & J ^ J 10mT ™ ,0y 10 .Ne'ytcwn: also from Bristol to Doylestown via
Car t . ctfs. & real cst. mtgo................
r
STO C K . — AH of the common stock i held in a voting trust"and" i h
s
.o
Leases . miles in Doylestown and has trackage rights over
2
company has contracted with I . L. Doherty & Co. for tho supervision of
I
i
n
K6 and t ?cks of N o w Jersey A Penna. Traction in Trenton
r
the operation of i s subsidiary properties.
t
1
ot to Terminal at Warren and Hanover. Gauge, 5 f . 2 ^ Inches.
t
B O N D S . — Remaining f rst lion bonds are reserve for improvements &c
i
OF
Pres., Sydney L.
right;
Gan.
at 75% of cost and under certain conditions. Tho bonds are secured h’ T hom F IC E R S .—A Treas., W alter T WB ilyeu. V .-P A o ffice,M gr. S.Gavlord
v
pson; Sec.
.
Phila.
133
5th St.
deposit of tho following securities: $5,999,000 of tho $6,000,000 5 % consols
-------------- —^
—
—
•
.of tho Tol. Trac. Co.: $5,997,000 of the $6,000,000 4 % consol. 1st M bonds of tho Tol. Rys, & Lt.; $108,000 Tolodo Gas, Eloc. A Iltg. Co bondsNIAGARA FALLS, N. Y.
$450,000 Tolodo Ottawa Beach A Nor. Ry. bonds; $500,000 Tolodo &’
Western IIR. bonds; $75,000 Adrian St. Ry. Co. bonds; over 9 4 % of tho
N IA G A R A G O R G E R Y .
$13,875,000 cap. stock of tho Tol. Rys. A Lt.; a l tho stock and bonds
l
($3,200,000 oach) of tho Acme Power Co.; a l tho cap. stock (except diroc3 ^ ? h R ° > A ^ AT 7 ^ N,’- 7 Inc,0Zporated ,n N ew Y ork Jun6 3 1899 as successor
l
„
to the Niagara la lls A Lewiston, sold at receiver’s sale M a y 23 1899. E xtors shares) of tho Toledo A Western RR., Maumee Valiev I vs1 A it
t
Lewiston, along the bank o f the Niagara River
Tolodo Ottawa Beach A Northern Ry. and the Adrian St R v
Red n'A £
to the C ity o f Niagara halls. Was form ally opened July 1 1899. Also con 4 weeks’ notico at 101 and int. prior to Jan. 1 1919 and at look andinr
frota the franchises o f the B uttery W hirlpool Rapids C o ., the Niagara
thereafter. The co. assumes tho normal Federal incomo tax u d to
Pennsylvania 4 mills tax refunded. Tho trust indenture will provide t h i f Rapids View C o . and the Niagara W hirlpool Rapids E levator C o . lia s
i tho Tpl. Rys. A Lt. Co., for tho purpose of accepting a now strat railway agreement with the Niagara Falls Park A R iver R y . C o. allowing cars o f the
f
road to,™? ° ^ er that com pany's lines across tho arch and Suspension
franchise from tho city o t Toledo, shall desire to effect tho release of the
strictly stroet railway property from tho lion created by said indenture such bridges to T able R ock and D ufferin’s Island. Leases the Lewiston
releaso may bo effected upon payment to the trustee, for tho redemption of A Youngstown hroutier R l l . and owns ail o f its stocks and bon d s.
outstanding bonds of t l s issuo, of cash to an amount equal to 4 0 % Amt, not
il
Date’ __________ i iO nona d n . M t r t .
t U e t u s non g a u i y
nrs. ttni
less than $4,000,000) of whatever valuation i fixed upon such nronertv s to c k , $ 1 ,000,000 ($ 100) _____ _____
s
in connection with tho new franchise, seo V. 106, p. 297.
v
1 cy
n n m &
«.0 0 0 .0 0 0 1 1907
5 g J -D ”
949,000 Ju'n'e"Ti927
Tlio 2d lion bonds are socurod (subject to tho 1st lion bonds) by a l the
l
& 4.000) gold
c A r /ln t . at Comm onwealth T r. C o ., B uffalo. T r.
collateral pledged under tho 1st lions bonds (soe above). Bonds are con
I o d . $51,000 bonds are in treasury.
Sns—
vertlblo, at option of holder, into $85 par value of pref. stock and $15 nir
.« o ^ 2 A P„’r r 9 wn8, 15^ m,loa! o f track
Niagara Falls to Lewiston and
valuo of com. stock of Citlos Sorvico Co. for oach $100 of bonds (with int
on
8.7 miles;
adjustment) from July 1 1920 to Doc. 1 1920, inch Red. on 4 weeks’notice { ^ ^ . L o w i s tAlso A Youngstown Frontier 1 R y ., o f double total operated,
has trackage rights
mile
track o f
at 101 and int. prior to Jan. 1 1919; 100)4) and int. prior to Jan. 1 1920- 24.6 miles.y . In Niagara. 53 passenger over 17 service cars and 1 snow Inter
national R
cars,
plow .
and 100 and int. thoreaftor. If called for redemption, conversion privilege
E A R N IN G S .— For fiscal years e n d in g .D e c. 31:
.
may bo exercisod after notico by advt. Penn. 4 mills tax refunded,
v • 106, p. 608.
C l Year—
a.
Gross
N et , f T x O h I c I t . e t & . B l n e
.t a . t . n . n . R n , c
a
aac.
Tho Tolodo Gas, Electric A Heating Co. bonds are guaranteed by endorse
.....................$^ ’? 9?
*483
$49,342
def.$26.867
ment by the Tolodo Rys. A Lt. Co. '’
lhoy aro not subject to c l . The Tol
al
1910 ................ 187,575
75,575
81
59,272
sur. 16,384
Gas Lt. A Ooko Co. and Toledo Heating A Lt. Co. aro guar., prin. A int ’
Pre3>«
. Jones; V
A Gen.
Bert L .
by the Tol. Lt. A Rys. Co. Former Issue was extended to July 1 lono’ Jones; S ec., Grosvonor LhlP3- Josoph Ts., Kendall.-P . Hassard,M g r., B uffalo:
. Corl ss; T re a
B.
all o f
then to Jan. 1 1912, at which time tho holders decided to allow them A n d ., E. H . Buddenhagen. Niagara Falls. General offices. Niagara Falls
to run to no definito dato at 5%. Of tho Maumoo Valley Ry. & Lt. 4Ks
* .“ “ V • o'l, p . o o o .
$300,000 aro reserved to rotlro tho f r t 5s of the Toledo A Maumee R y N o
is
s f on tho 4Ks, but they can bo ca'lcd at par on 30 days’ notico Int
. .
(1) L e w is to n & Y o u n g s t o w n F r o n tie r R y .
payable at Kean, Taylor A Co.’ office. N. Y. Tol. Fay. A W . bonds have
s
lih
n° a f . but are subject to call at par and accrued int. Aro guaranteed V n ? ,n i^ ^ n 5 liIw NTSrC!bartSr? d A uF;, 4895. Owns from Lewiston to
- Y0T nf&
"
n a £ d F.tu N fe ?ara’ 7.5 m .; sidings and sw itch es.2 m .; total, 7 .7 m
kolb
arul interest by tne Toledo A Western Ry.
stock ancMaonds ^ * Niagara Gorge R R .. which also owns all o f its
E A R N I N G S . — Of tho Tolodo Rys. A Light Co. and allied roads:
Y ea r end.
— Y e a r s e n d . D e c . 31
„
,
N o v . 30 '17.
1916.
1915.
l
D
- - ItTS
nteU
mtrt.
auiy
Gross earnings.................. $6,175,332
$5,653,013 $4,833 765 S to ^ ?$ m O O O D($B o 5 - ™
N nW\fM r *?*<»---.... .... -..... 1.845.196
1.844,623
1,639!239
RO A D , Ac.— Street railway lines in Toledo, 117M miles of track; inter?
urban lines owned by subsidiary companies, 121 miles of track; also 4
miles In Adrian. Generating capacity, 64,380 k. w. A new central
generating station was completed hi Mar. 1918 witli an ini i l capacity of
ta
NORTHAMPTON, MASS.
'J f S r A S r
B
SBgg:;T A ^ f e S l
.
i°’
l91.k
297; vnd10Y
0?phY97,a500?608!e 3 4 r lty °f 2 ° ° ' m
i
106'
G E N E R A L G A S & E L E C T R IC C O .— See “ R y . A In d u s ." S ection.
NEWBURGH, N. Y.
O R A N O E C O U N T Y T R A C T IO N C O .
O R G A N t Z A T i O N . — Organized Oct. 16 1901 and acquired the Newburgh
Electric Ry. Go., sold under foreclosure. The Newburgh Electric 1st
mortgagei bondholders and tho Walden A Orange Lake RR. and the Newtor % r °ee'T.I73.0p l388reed l * reduct,on ,a the,r tateraat from 6 %
5
°
In Dec. 1917 tho P. S. C o m m . auth. tho co. to increase fares in N e w
burgh from 5c. to 6c.
now8 « ™ | ° m S D<“
25™.!?... DaJ .’ :
176.000 .........
Pf $176,000 6 % n-cum ($25)--..............
First and refunding mortgagel i910
6 J-J
264.000 July" "ft 960
kt *750.000--------------tfjUnlon Trust Co.. Albany, trustee/ 1 1000
N e w b E l M lstM (SMO.OOO).] !894
5 g M-N
250,000 M a y 1 1944
gold ($a00) not red---- tfllnt. at Columbia Tr. Co., Trua., N.Y. City.
N O R T H A M P T O N S T R E E T R A I L W A Y .— A trolley road.
R O R G A N IZA .T IO N .— Chartered Feb. 25 1873. On Jan. 7 1911 M ass.
autb,’ com pany to Issuo $300,000 additional stock, o f which
$200,000 was used to pay o ff $200,000 bonds that matured June 1 1910.
J d d ^ L m l stock
V 9
n6°. p 554? th® MaS8' R R ‘ C ° m m ’ a u th ’ *150’000
4
M a7 l 910 M ass. R R . C om m ., having decided In Feb. 1909
that the Increase in the unit o f fare from 5 cents to 6 cents was unreasonable
and excessive ( . 87. p. 1605; V. 88, p. 625), approved an Increase In cash
V
fares between N ortham pton and Easthampton to 10 cents and the discon
tinuance o f salo o f ticket books between N ortham pton and Williamsburg
8 ( S ° » ° 5 0 ’,MO-tear , 100) ..................
'TS“' *
Loans and bills payable D ec 31 1917.....................
sfk lu 1 0 1 4 « < ! “.
n , OAP'T°w^a 27-490
r^
2 %
W
»
70000
0
: 1911 “ * U l 1 - 5 % -
’ ^
IO 1913
miles o f track. Including extension to H olyoke
and extension from M t . T o m Junction to Eastham pton. Operates 48
passonger cars, 3 snow plows and 94 electric m otors.
E L E C T R IC R A IL W A Y S
•68
E A R N I N G S .— For cal. years 1917 and 1916 and year end June 3011916:
Y ear—
N eir
G ro s s .
I n i . . T a x e s , & c . b i o . (5%)
Sur or D ef.
$ 1 8 ,9 5 1
$ 2 3 ,4 4 7
$ 4 2 ,6 0 0
der.J16.998
1917-...... $220,740
81.608
24,428
42,500
sur. 14,680
1916--..... 229,481
71,505
24,497
42,500
sur. 4,508
1915-16____ 220,623
OFFICERS.— pres., I . M. Tyler; Treas.. H. J- Campbell: Gen. Mgr.
I
Pres
L D Pelllssler; Supt., H. M. Aldrich, all of Northampton.— V. 89, p. 42
V. 92. p. 322; V. 96, p. 554. 1840; V. 99, p. 675.
NORWALK, OHIO.
S A N D U S K Y N O R W A L K & M A N S F I E L D ELEC. RY.— A trolley road.
O n Nov. 15 1912 C. G. Taylor was appointed receiver for
the company and tho controlled Plymouth & Shelby Traction Go., to suc
ceed C. B. 1 rooks (Treas. of the company),Goo. B. Duslnberre and Wilbur
1
Hoyt who had been appointed receivers on Jan. 4 1912. On July l 1913
the Plymouth & Shelby Tr. Co. was released from the receivership, but on
Nov. 15 1917 was again placod in the hands of C. CL Taylor_as receiver,
because of question as to ownership. It has outstanding $200,000 stock
and $200,000 bonds.
O R G A N I Z A T I O N . — Private right of way except In c t e , whore f r a n
iis
c h is e s run 25 years from 1904.
*
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
-----• inrian -------->
C o m m o n $360,000-------- ---B o n d s . Redeemable on any int. day on 90
—
.Q0.,c?
t
Sinking fund $5,000 per annum June 1 1909 to 1913 inclusive, 1914 to 1918.
I
nclusive. $10,000; 1919 to 1923. inclusive, $20,000.
" E VRNINGS.— For year ending Dec. 31 1917. gross, $54,568; net,$7,822
taxes and interest on receiver’ certifs $4 254; balance S3 569. In 1916.
s
gross, $52,096; not, $8,319; taxes and i
nt. on receivers certi s , $4,302,
f.
balance, $4,017.
R O A D . — Oporates 30 miles of track from Norwalk through towns of
North Fairfield, Steubon, N e w Haven and Plymouth, to Shelby .where
connection I made with the suburban lines of Mansfield: also a 2 H-mile
s
extension to Willard, Ohio. Standard gauge, 70-lb. T r i .
al
OFFICERS.— Receiver, O. G. Taylor.— V. 91. p.1631; V. 94. p. 69.
[Vol. 106.
865: adding cash expenditures for capital purposes from June 30 1914 to
March 31 1917. $1,461,875, making tho reproduction cost as or March 31
1917. $28,374,740
F o r e c lo s u r e S u it s . — Tho Anglo-Gallfornla Trust uo. of San Fran., as mort
gage trustee, has brought suit against the United Properties Co., Dennis
dearies and stockholders of the Oakland Ilys. for rocovery on tho $2,500,000
note issue of the Oakland Rys. (seo table heiow) In order to protect the
noteholders in tho event that the proposed reorganization of the San Bnin
clsco-Oakland Terminal Rys. i not carried through. V . 101. p. 615. ihe
s
Trust Co. has also begun legal proceedings toProsorvo
t lvr ?nr.s
of the holders of the $1,100,000 6 % Oakland Terminal Co. notes. V. 105.
p. 820
W a n e I n c r e a s e — In Nov. 1917 a board of arbitration awarded the men
an increaso fn wages of 12%, effective Dec. 1 1917 and retroactive from
Juno 17 1917. The board took tho view, howovor, that because of tho
extra burdon imposed upon i , tho company should have tho privilege of
t
rearranging i s charges.
t
F a r e I n c r e a s e S o u g h t.— On Sept. 28 1917 filed two applications with the
Calif. RR. Comm, for fare adjustments, ono by the Traction division
(embracing the former Oakland Traction Co. system, California Ity. and
East Shoro & Suburban], asking an Increase of faros in J*?L^and Contra
service in Alameda County and between points in Alameda and Contra
Costa counties; and tho other an amended application by the Roy Division
[embracing the former San Francisco Oakland & San Joso Consol. I y ] for
t..
a raiso and adjustment of rates in the trans-bay passenger service. V. 105.
i 1618. In Dec. 1917 tho Cal. RR. comm. auth. tho co. to issue $218,460
)
6 % demand notes to banks in lieu of notes then held by them and to pledgo
$337,000 Gen. Lien bonds as security. V. 105, p. 2o43.
O R G A N I Z A T I O N . — Incorp. in California on March 21 1912. lias
consolidated the following (V. 94. p. 912):
. qI h l han » T Oo
llr
Uukiarui Traction Co.
East Shoro o Suburban ivy. uo.
c
Sari Fran/Oak!°& 8. J. Cons. Ry.
California Railway.
The San Fran.-Oak. Term. Rys. assumed the total bonded debt of the
” The kacAamen to Short Line and San Jose Short Line, Incorp .Jan. 211911
in On.Ufnrnia In tho interest of tho San Fran.-Oakland Tonn. Rys. Systoin,
the former with $10,000,000 stock and tho latter with $8,000,000 stock,
have boon merged In tho San Fran.-Oak. loron. Rys.
, n «■
Operates tho street railway linos of and connects Oakland, Berkley,
Alameda Richmond, Emeryvllle. Piedmont, Albany, San Lorenzo, San
Leandro and Hayward. Also connects Oakland, Berkley, Emeryville,
Ptolmont and Albany with San Fran, by electric train and ferry service.
nmnniv—
D i o . P e r i o d . O u ts ta n d in g .
NORWICH, CONN.
C o m m o n ^ ($100)-------..................
*}|'^,
8oO
Class A pref. ($100) 6 % c u m .............
Q--M. 21
12.050,000
T H E S H O R E LINE E L E C T R I C RY. CO. (Connecticut).
1.000.000
O R G A N I Z A T I O N . — A merger, effective Nov. 1 1916. of the Shore Line Class B pref. ($100)......... ........ ............
In terest.
O u ts ta n d in g .
M a tu r ity .
Electric Rv Norwich & Westerly Traction Co., Groton & Stonlngton
BONDS—
D a te .
Street Rv. Ashaway & Westerly Ry. and the N e w London & East Lyme
S a n F r a n .-O a k . T e r m . R y s .—
See text
$96,000
Street Ry. ’ (See this Section for Sept. 1916 for separate statements of those Equip notes ($1,000)------ 1916
6 M-N
companies.) V V. 103. p. 494. 1033. Leases for 99 years from 1913 that
O a k la n d T r a c tio n C o .
—
5 g J-J18
3.177,000 Jan 18 1935
portion ofthe Connecticut Co. known as the N e w London Division, 104 mUw. Oakland Trac Co gen con] 1907
An Act of tho Conn. Legislature, approved M a y 16 1917. authorized the
mtge, g. $1 2 ,
000,
000.sink Union Tr. Co.. San Fran.. Trustee.
company to increase i s capital stock to not exceeding JW.OOO.OOO and to
t
ing fund ($1 ,
000)------c*
5 g J-J
2,134.000 Jan 2 1933
exchange such stock par for par for i s notes or i s A and
t
t
debentures, Goneral consolidated mtge, 1905
Union Tr. Co.. San Fr.. Trustee.
subject to tho approval of the P. U. Com m . N o stock shall bo issued at
Oakland Trac Consol, $7.
less than par. Tho company was also authorized to generate and s l elec
oi
000.000. gold (S1.000)---c
6 J-J
95.000 See text
tricity to any electric light, heat or power company except in tho towns of Oakland Trac equip $250,000 1911
Windham and Coventry, Conn., and any town where a company i already
s
(sec by 60 P-A-Y-E cars)..
In operation except with tho consent of that company; also to acquire stocks, I s ^ S ^ r f e x t i Oakland j'lobf 1 5 f ^ ^ ^ h S o o f j iliy ^ l 1932
bonds, &c., of any Connecticut electrical company. V. 104, p. 2314.
T 5US J <
gt -J°‘' T.595?000 July l 193i
U
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
la tu r ity .
000.000 ($1 ,
000) g---.-C*lMercantUo Trust Co.. Sanego*juiy 7*1918
.
T
C o m m o n JSec \ ($100)--------------q no non -------Preferred (text| ($100)....................
o
........
1S$ ?1 ^ 0 < M 1^ l Id!rs^1I ^ QOtjTWton T r a it O o ., San^Frandtecof T ru stee^ ^
4
0
, o
subject to calE--------C*j ^
g M .g
& T g gs f ± ”
g?oa-r.:M-ri m
sVJj f f r ®
250,000 Mar. 1 1922
gold (assumed) ($1.000)--c\Interest at International Trust Co.. Boston. Oak San Lean & I 1st M
I
g. $250,000 ($1.000)..... 1893
Debenture “A ” bonds------ ----------- o m n ’
nrn --------6 g M-S15
250.000 Mar. 15 ’
23
23d Ave El Ry 1st mortgage,
Debenture " B ” bonds.....................
2.500.000 .........
gold ($1 ,
000) *250.000...,
,
- TT
L e a s e d L i n e S e c u r itie s .
__
18,000 Jan. 1 1923
Montvllle Street Ry 1st mtge (1900
5 g M-N
250.000 M a y 1 1920 A 1f r t
I s dmtgeakgold! $350.000.{int. at Wefls-Fargo Nov. N. B., San Fran
$350,000 ($1,000) gold (can] Interest at American Trust Go., Boston.
S a n F r a n O ak A S a n J o s e C o n s R y—
General consolidated mort 19(58 5 g M - N 19 1.587.000 M a y 19 1938
Wore * C^n^East 1st M Csf"g[ 1902
4 H gJ-J
1’ . 0 0 0 Jan 1 1943
^
gage. $7,500,000 ($1,000). Union Trust Co.. San Francisco, Trustee.
$3,100,000 ($1,000) — c*tf IInterest at N. Y. Trust Co.. Trust.
Interest at office of co., Oakland, or Wells
gold................ c*
Mnrwii'h St Rv fi s mtRO.l 1893
i,
rt
O g A-O
o50,UUU V C i £, LJLO
Jl
Fargo-Nevada Nat. Bank. San Fran.
$350,000 ($1 ,
000) g---ntfI Interest at American Trust Co.. Boston.
.
1903
5 g J-J
3,000.000 Jan 2 1933
n
B o n d s . Groton & Stonlngton bonds have no sink. Id., but are subj. to San Fran O & S J R y 1st Int. at Wolls-Fargo-Nevada Nat. Bank i
—
San Francisco and Natl Pk. Bank in
call at anv time at 120 and Int. Trustee i Treasurer of State of Gons
mortgage, $3,000,000 (S
I
N. Y. Union Trust Co.. San Oranclsco,
^cticut Of the Worcester & Connecticut Eastern bonds, no more will
000) s f gold-------- c*
, .
be Issued A s in k in g f u n d on these bonds commenced In 1908 of not to
19Or
0Ste5 g J-J
1.500,000 Jan 2 1933
exceed 1 % of bonds outstanding. Bonds cannot be called but m ay be
bought on a 3 % basis or better, and kept alive for sink. fd. S e e v 76. San Fran O Sc S J R y 2d mtge Int. at Wells-Fargo-Nevada Nat. Bank,
f;
San Francisco, or at company’ office.
s
n 1204 *168 000 of amount reported outstanding held in sinking fund.
$1.500.000 g ($1 .
000) s f.c*
_ Union Trust Co.. San Francisco, Trustee.
&f the Montvllle Street Ry. 1st mortgage gold bonds, the balance unl.sued can only be issued for 66% of actual certified cost of impts. or ad
E a st S h ore A S u b u rb a n R y . C o .
T_
nnn iniv 1 10 .
1/1
1st mtge $750,000 gold s f 1905 5 g J-J
l
653,000 July 1 1910
ditions to property Original mortgage of the Montvllle Street Ry
($ L 0 0 0 ) sub tocall 110 &Int|Int. at Merc. Tr. Co.. San Fran.. Trustee.
Drovlded that bonds might be called in 1905 at 105, but through a supple
mental mortgago this redemption clause was eliminated, so bonds are not
N o te s o f S u b s id ia r y C o s .
—
6%
2.500,000
See text
Oakl Rys co l t notes $2,500. 1912
l r
now subject to c
all.
__
Co.,
000 ($25,000) red at 100 Int. at Anglo-Oallfornia Tr.Bank, San YFran.,
E A R N I N G S . — For year end. Doc. 31 1916, gross, 51.738,476; net, after
Trustoe, or National City
N. .
and Int------------ -- 1912
taxes. $511,499. In 1915,;gross,.$l,678,777;.not, after taxes. $554,428.
6 F-A
1,100,000
Seo text
Oakland Term co l notes $1.
l
100.000 g ($1 ,
000, $2 ,
000. Int. at Anglo-Callfornla Tr. Co.. San Fran,
R O A D _Operates 234.58 miles of road of which 114.76 miles owned,
♦o.uooo/^/u.uvwa-v-.-i Callable at 101 and Interest.
$5,000 & $10 ,
000) gu p & I
.
101 67 miles leased and 18.15 miles oporated under trackage rights. Gauge
S a n F r a n cis c o -O a k la n d T e r m in a l R y s . The equip, notes of 1916 areuse—
4"rt.81?inched Entrance to New fiaven over tracks of Connecticut Co.
cured by 32 steel cars costing $234,000. Ihey mature $10,000 s.-a. from
Private right-of-way except through towns.
n
nn'ffTnB’ ^ _proo r vy .Perkins; V.-P., F. doO, Sullivan, Soc. cl M a y 1 1917 to Nov. 1 1925, i cl. Callable at 100H and Int. on 60 days
R
T r S A E Shuman; Gen Mgrs., J. G. White M « t Corp.-V. 96, p.
O a k la n d T r a c . C o . Of the $12,000,000 bonds of 1907. $15.980 000 are re
—
1298; V. 97, p. 445; V. 99, p. 1750: V. 103. p. 146, 494, 1033, 2344.
served for prior liens and $1,843,000 are deposited under the Oakland
roll notes A s in k in g f u n d began In 1907 which provides for the roUrement of about S7 000 (500 bondsBby 1932. Of the §7,000.000 Oakland
Trar consolidated mortgage, $4,826,000 are reserved to retire prior liens,
OAKLAND, CAL.
$20 000 have been cancelecland $20,000 exchanged for Oak Trac. Co. Issue.
S A N F R A N C I S C O - O A K L A N D T E R M I N A L RYS.
A si'n kin a f u n d began in 1906 which provides for tho retirement of $6,000,000
I n t e r e s t P a y m e n t s .— All July 1915 interest was defaulted, but> within1 six hnnrtGhtf Julv 1 1928 See V. 81, p. 668. Tho auth. amount of 1st consol,
months’ grace allowed, tho company completed tho Payment In fu l of a l mtge of 1902 of Oakland Transit Consol, was originally $6,500,000. but
l
l
the July 1915 coupons (V. 102, p. 251). The company has been paying shareholders voted on June 17 190-1 to cancel $1,654i.^OO ore'V'ously re
subsequent coupons as funds become available. \ . 106, p. 106, 6 3 i , l i > , served for extensions and improvements. V. 78, p. 2385.
t.o nnn^'iavp
mg bonds auth. $3,495,000 are reserved for prior liens and $149,000 have
F i n a n c i a l R e a d ju s tm e n t. — The committee appointed to consider plans for been cancelod by sink. fd. A s in k in g f u n d for those bonds commenced in
financial reaajustment in I s report dated M a y 16 1916 recommended post 1903 and rarA'M from $10,000 to $250,000 per voar, which provides for the
t
ty
$4.
a
poning reorganization until fundamental changes have been made In the retiromenraTmaturi of . 000.000 bonds, ifonds not subject to G ll, but
ni
nature and terms of the co.’ franchises as a guaranty of protection to new r ' v ho nurchased for sinkioK fund in opon market. Sco V. i p. loo. Of
s
i
6'
is
capital. (Seo city’ partnership plan below.) For report in detail, see V. Ih»y< i l?nn nnri f r t consols. Oakland Transit, $1,400,000 aro reserved to
s
102, p. 2343. Committee: B. B. Anderson, George A. Batclielder, J. 1 . [etlrl'^mderlying^^liens. $5?000 have been exchanged for Oak. Transit Cons.
A s in k in g
on
In 19lw, which provides for the
Carlston B H. Dibbleo, John 8 . Drum, M . Fleishhacker. W. W . Garth- Aitirementf u n d commenced the these bonds before maturity.
of $2 ,
000,000 of
bonds on or
walto, Edward J. McCutchen, John D. McKee, Percy T. Morgan. A. F.
Both the Oakland 8 an Leandro & Huy. Elec. Ry. and the 23d Ave•
Morrison, G. K. Weoks.
Ry. mortgages bave sinking fund commencing ten years after date a. 1
C itu P a r t n e r s h ip P l a n . — The electors of Oakland on Nov. 7 1916 voted in Increasing
2%
f r t five
is
Tavor of the charter amendment authorizing the city to gA Into partnerehip vearsto8 %fromlast 5 yearly (of total bonds outstanding) lfor thomaturity.
for
years. The bonds are not subj. to ca before
l
with the co.. In accordance with the plan or the Oakland Chamber of Com.
Equipment bonds maturo $31,000 annually on Jan. 2 1912 to 1J18, I c .
nl,
merce drawn up with a view to settling the co. s financial and operating dif i «qq Aon 1919. $155,000 have been retired.
f
. ,
. .
culties. The plan provides: ( The co. to be granted a resettlement fran
a)
interest on Oakland Traction Co. and underlying bonds, oxcept whoro
chise of an indeterminate period on condition that tho city may buy out otherwise indicated. I payable at Wells Fargo Nov. National Bank, San
s
the system on 6 inos.' notice and may transfer such purchase right to a third FrancLsco. or National Park Bank. N o w York.
party; lb) net profits to bo divided between the city and the co., the city
S a n F r a n c is c o O a k la n d A S a n J o s e C o n so lid a te d
to get not less than 55%, the company to be allowed 0 % on I s valuation
t
and a proper amount for maintenance, operation, taxes, insurance and mortgage bonds are reserved to retire prior Hens and $1,413,000 are ueol
depreciation; ( ) operations to be conducted by a Joint board cons sting of noslted under the Oakland Ry. c l , notes. A sinking fund on th^e
c
on tHe
two. one for tho city and one for the company, an arbiter to be called In in Ijonds began 1915, installments totaling $4,345,000. A
caso of disagreement. Tho plan also provides that the Mayor appoint
an advisory board of seven to co-oporato with the City Council in drafting
1
the franchise ordinance. Seo V . 103, p. 759. Tho co. has applied to the » n m n - in‘ 0 2 1 ^nd^ 1922 *75.000: In 1923. *90.000: In 1924 and 1925.
City Councils of Oakland, Berkeley and Alameda for a resettlement or the |foo!oob; In 1920. 3115.000; Inl927 and 1928. $125,000; In 1929. 1930.1931
.o
various street railway franchises owned in these cities under tho terms of the and 1932. $150,000. Thane bonds cannot bo called. 800 V . 70, p. o ) .
above plan. V. 104, p. 1389. Committees have boon appointed by the The following amounts are payable annually to a s ln k in g f u n d on the San
Francisco Oakland Sc San Jose R a ilw a y 2d mtge. bonds. l
'Jlo, $ 0,000
Mayors of Berkeley and Oakland to nogotiato with tho company.
toia 415 000* 1017 S20.000*. 1918, .$25,000; 1919, $30,000, 1920, 535,000,
V a lu a tio n . — After a most exhaustive investigation, the Cal. RR. Comm,
10 9 1' f j ' o ' 1922* $45,000; 1923 to 1925, Inclusive, $50,000; 1926 and
cooo*
on M a y 24 1915 handed_______ j... s decision holding l/i reproduction cost n- 1927’ $60,000’ 1928* to i932, Inclusive. $75,000. These bonds are not
down I
t
tho
of
.
;
kju cmnpimy^physical property as of June qh 1914 to ho ^ fnllnws* O
x
in
the
30 u i
be jivi fodows: Op
subject to c l .
al
erative property, $20,354,747; non-operative. $«-RKR_ii 8. total. $26,912.-
Ma t , J918. |
E L E C T R IC R A IL W A Y S
East Shore & Sub. mtge. I a closed mtge. Sinking fund. 1*i % yearly on
s
a l bonds outstanding, expected to retire entire Issue. V. 94, p. 123.
l
$97,000 in sinking fund Mar. 31 1917.
N o t e s . The Oakland Rys. and Oakland Terminal coll, notes f l due
—
el
Juno 12 1913 and Aug. 20 1913, respectively. Interest at rate of 6 % per
annum i being paid on the notes.
s
E A R N I N G S . — For years ending June 30:
Y e a r e n d in g
G ro s s
N et
(a f t e r
O th er
In terest,
B a la n c e ,
J u n e 30—
E a r n in g s .
T a x es).
In com e.
A c . (n e t.)
S u r p lu s .
1916-17...... a$4,472,176 --- $1,146,445--“
$1,091,125
$55,319
1915-16....... *4,417,848 *1,089,771
60,413
1,019,461
130,723
1914-15 ....... 4,353,891
1,169,357
62,665
1,025,583
206.439
1913-14 ....... 4.562.113
1.387.936
89,222
832.206
644,952
* Including in 1915-16 direct exposition ferry earnings, gross, $114,553
net. $49,161. Loss due to jitney competition In 1916-18 estimated at
$320,000, with no corresponding decrease In operating expenses.
a Including “other income” in 1916-17.
R O A D . — Operates 262.40 miles ( l tracks) of electric railways. Has 396
al
pass, cars, 1 combination car, 3 electric locomotives. 14 freight cars, 55
service cars, 3 wrecking cars, 1 pile driver and 5 ferryboats. In 1915 made
a new contract for power with Consolidated Electric Co. (successor to the
United Lt. & Pow. Co.) under more favorable terms.
OFFICERS.— Pres., C. O. G. Miller; Y.-P., W. R. Alberger; Sec. &
Troas., F. W . Frost; Aud., B. W. Fernald.— V. 105, p. 1105, 1618, 1898,
2367, 2543; V. 106, p. 397, 1462, 1689.
O A K LA N D ANTIOCH & EASTERN R Y .
F i n a n c i n g . — Jan. 1 1915 Interest was defaulted. In order to meet out
standing obligations and avoid further assessments on the stock and possible
foreclosure, a plan for funding coupons maturing in 1915, 1916 and 1917
was agreed upon substantially as outlined In V. 101, p. 288. The stock
holders were called upon for a loan of $3 per share, the loans being evi
denced by the company’ 6 % promissory notes secured by 1st M . bonds
s
on the basis of the bonds being worth 80.
F o r e c lo s u r e S u it . — On Nov. 28 1917 foreclosure suit was brought against
the co. by H. D. Smith and associates, owners of Oakland Sc Antioch
bonds.
R e f i n a n c i n g P l a n . — A plan dated Nov. 1 1917 has boon presented
to the security holders in accordance with the order of tho UR. C omm,
made in Nov. 1915 that such a plan be submitted to tho C o m m , on or
before Jan. 1 1918. The plan looks to the organization of a now co., to be
known as tho San Francisco Oakland & Sacramento lty., to take over and
operate tho properties of the Oakland & Antioch lty., the Oakland Antioch
& Eastern Ry. and tho San Ramon Valley I l . The proposed capitaliza
tt
tion of the now company i as follows:
s
1. Com. stock ($100) non-assessable, a l to be issued under plan.$4,000,000
l
2. Prof, stock $1,500,000 6 % cum.,($100) non-assessablo; callable
at any time at 110. To bo issued for roorg. purposes, not over 1.330 000
3. 20-yoar 1st M. 5)^% gold bonds, $3,000,000 ($100 to $1,000).
Trustoo, Union Trust Co. of San Francisco. To be issued or
sot aside for reorg. purposes, not over___________________ 1,950,000
Remaining bonds will be held in treasury and ma y be issued only under
conservative restrictions. The above securities aro to bo distributed among
the bondholders of tho companies and among persons holding bonds in
pledge, so that they will receive securities of a par value equal to tho par
value of the securities now held by them upon tho following basis: 20%
bonds, 2 0 % preferred stock and 6 0 % common stock. C o m m o n stock re
maining in tho treasury after distribution to bondholders and holders of
bonds in pledge i to bo divided among unsecured creditors. Tho $170,000
s
prof, stock unissued i to bo held in treasury for additions and betterments
s
Creditors having first and direct enforceable liens on the mortgaged
proporty which aro approved by tho bondholders aro to bo paid in cash.
Reorganization committee: S. Bachman, Fred. I . Beaver, A. ChristeI
son, C. Osgood Hooker. John Lawson. Jesse W . Lilienthal, Paul A. Sinslicimer and Sydney M. Van Wy c k Jr. Depositary, Union Trust Co
San Francisco. V. 106, p. 190, 822.
O R G A N I Z A T I O N . — Incorporated in California in April 1911. Controls
through stock ownership Oakland Sc Antioch Ry. (34.12 miles between the
points named) and San Ramon Valley RR. (11.7 miles between Saranap
and Diablo, Contra Costa County.
A s s e s s m e n t s . — The following assessments wore levied on the stocks of the
Oakland Antioch Sc Eastern Ry. and the Oakland Sc Antioch Ry. (of whoso
35.000 shares outstanding 34,713 shares are ownod by the O. A. & E. Ry.)
Aug. 5 1913. $5 and $10 per share, respectively: Jan. 16 1914. $4 and $8
per share; Juno 1914, $2 and $4 per share, and in Doc. 1914. $1 60 and J3
per share. 12.600 shares have been forfeited for non-payment of assossm'ts
The company has made a traffic agreement with the Atchison Topeka Sc
Santa Fo Ry. under which the latter company reaches Sacramento and
points beyond. V. 98, p. 1070 and 1072.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$8,740,000 ......
Stock $10,000,000 ($100).... ............
First mtgo $5,000,000 gold! 1911
5 g A-O
2,500.000 Oct 1 1941
($1,000) sinking fund___ c/Int. at Union Trust Co., San Fran., trustee.
Oak Sc Ant 1st M $2,000.0001 1910
5 g J-J
2,000.000 July 1 1940
gold ($1,000) sinking fund. lint, at Anglo-Callf.Tr. Co., San Fr., trusteo.
San Ramon Val 30-yr $250.-1 1912
6 g M-S
100,000 M c h 1 1942
000 gold ($1.000)_______Jlnt. at Union Trust Co., San Fran., trustee.
Conv gold notes .......... 1913
6%
317,600 Fob 1 1918
Stockholders’loan....... I 1916
6%
158,429 Jan 1 1918
(Interest at Union Trust Co.. San Francisco.
B o n d s . — Oak. Ant. Sc East. 1st M. bonds are subi. to call at 110 and I t
n.
on any Int. day. Of the remaining bonds $1,993,000 aro pledged as collateral
to notes and $507,000 are In the company’ treasury. S in k in g f u n d com
s
mencing Feb. 1 1918, as follows: 1918-27. Inclusive, $35,000 yearly
1928-37, $75,000 yearly; 1938-41. $160,000 yearly. Oakland & Antioch
bonds are callable at 110 and Interest. S in k in g f u n d beginning M a y 1
1916. as follows: 1916-25. $15,000 yearly; 1926-35, $35,000 yearly
1930-40. $75,000 yearly. San Ramon Valley (linking fund: 1918-27, $1,875
yearly; 1928-37, $4,375. 1938-42, $9,375 yearly. The convertible notes
are redeemable at par. They are secured by bonds as collateral, and are
convertible Into such bonds on the basis of the bonds being worth 85 and
the notes 96 V i .
E A R N I N G S . — For years ending Dec. 31:
89
B im d s . — 1st M . closed with $1,392,000 outstanding. Red. at 105 and int..
In whole on or after Apr. 1 1917, or in part for sk. fd. on or after July 1 1918.
Sinking fd. of 1 % per ann. becomes operative July 1 1918. An improve
ment fund of « of 1 % per ann. operative on Jan. 1 1923. See V. 94
p. 1118, 697. Int. at office of trustee. $1,392,000 Ref. M. bonds reserved
to retire 1st M . Remaining bonds to be issued for additions and extensions
under guarded restrictions.
D iv id e n d s . First div. on prof.— 244%— was paid Jan. 2 1913; July.
—
1913. 2%. In 1914. Jan., 2%; July, 244%. In 1915. Jan., 3%: In
April paid a quar. div. of 144% and same rate quar. since to and Inc
l.
Apr. 1918. Initial div. on com.. 1%, paid Nov. 1915. In 1916, 144%;
in 1917, 144%; in 1918, April, 1%.
E A R N I N G S . — For 12 mos. ending Dec. 31 1917 ( n l subsidiaries),
ic.
gross, $502,397; net (after taxes), $173,483; fixed charges and deductions,
$116,703; surplus, $56,780.
R O A D . — Operates 35.7 miles of track in Oil City, Franklin, Rouseville,
Siverly and Reno, and connecting routes on both sides of the Allegheny
River. 65-lb. and 70-lb. T r i and 85-lb. girder r i . Has 47 passenger
al
al
cars, 1 express and 5 work cars and 3 snow sweepers. The controlled Citi
zens’ Light & Power Co. furnishes electric light and power for Oil City.
Franklin and vicinity.
OFFICERS.— Pres., Joseph Seep, Titusville; V.-P., N. G. Roosevelt;
Sec., John E. Zimmermann; Treas., J. W. Swain Jr.; Asst. Sec., R. C.
Shields; Asst. Treas., C. R. Bitting. Oper. Mgrs., Dav & Zimmermann,
Inc., Philadelphia, Pa.— V. 101, p. 1806; V. 104, p. 1387.
OKLAHOMA CITY, OKLA.
O K L A H O M A R A I L W A Y CO.—
O R G A N I Z A T I O N . — Incorporated in Oklahoma on June 15 1904 under
tho name of Oklahoma City Ry. Co. On Sept. 21 1907 name changed to
Oklahoma Ry. Co., increasing charter powers so as to constitute both an
urban and interurban road with a l the powers of a steam railroad corpora
l
tion and of a lighting and power co., and increased stock from $1,000,000 to
$3,000,000. On Apr. 1 1911 purchased Oklahoma City & Suburban Ry.
and on Aug. 1 1911 purchased the El Reno Interurban R y .and the city lines
and franchises in El Reno. The Oklahoma Ry. also owns the Guthrie City
Ry.and the No. Canadian Valley Ry. In 1911 increased stock from $2,000,
000 com. and $1,000,000 pref. to $10,000,000 com. and $5,000,000 pref.
About two-thirds of road on private right-of-way ( n l 28 miles of track
ic.
within city); Oklahoma City fr a n c h is e perpetual, subject to right of city
to purchase property on Jan. 31 1932 or at end of any 15-year period
thereafter. El Reno franchise expires 1933; other franchises perpetual.
The Guthrie-Edmond Electric Ry. was incorp. in Dec. 1915 with $500,000
capital to build the extension from Edmond to Guthrie, 15 miles, placed in
operation July 20 1916.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $10,000,000 ($100)......... .....
$3,800,000
Brer $5.000.000($100)5% c u m ___
1,795.400 Jan'12.14
4
First and refunding mtge ___
1908
347,000 Jan _____
1I
f
5 gJ-J
______
$3,000,000 ($1,000) gold c* Int. at Safe Den. Sc Tr. Co., Pittsb.. Trustee.
First & ref mtge $12,000,000 1911
5 g J-J
3,653.000 Jan 1 1941
Kohl ($1.000)........ c* Int. at Mississippi Valley Tr. Co., St. Louis.
Trustee, or Harris Tr. & Sav. Bk.. Chic.
Junior M g bonds ($l,000).c 1916
6 J-J
485,000
See text
Rod , 10144 and Interest Int. at Miss. Vail. Tr. Co., St. Louis.. Tr.
at ___
_
________
B o n d s . — Of the 1st Sc r f bonds of 1911, $347,000 are reserved to retire
e.
underlying bonds: remaining bonds can be issued at not exceeding 80% of
cost of extensions, enlargements and additions under certain restrictions.
SubJ. to c l at 105 and Int. on Jan. 1 1921 or any int. date thereafter.
al
V .92, p. 1110. N o s f , but bonds have a renewal fund of 2 % per ann. of
. .
bonds out. The 1st Sc re . mtge. of 1908 I limited under tho terms of the
f
s
1st & r f mtge. of 1911 to $2,500,000, of which $2,153,000 are deposited as
e.
additional security for 1 t & r f 5s of 1911 and $.347,000 are out. Mtge,
s,
e.
bonds of 1908 can be called on 90 days’ notice at 110 and Interest. No
sinking fund. The junior mtge. bonds mature $15,000 s.-a. from Jan. 1
1918 to July 1 1925 and $260,000 on Jan. 1 1926. They are secured by a
lien on the entire proporty subject to $4,000,000 underlying bonds, and also
cover tho extension from Edmond to Guthrie, subject to a construction
lien of $450,000. Exempt from a l general taxes in Oki. V. 102, p. 1987.
l
D iv i d e n d s . — On pref., 1st div.— 5 % — paid Jan. 1909 and 144% quar.
since to and Inc . Jan. 1912. None since.
l
E A R N I N G S . — For f scal years ending June 30:
i
J u n e 30
G ro s s
N e t ( ft e r
a
O th er
In terest.
B a la n c e , P a s s e n g e r s
Y ea r—
E a r n in g s .
T a x es ).
In c o m e . D is c 't ,& c .
S u rp .
C a r r ie d .
$8,373 $296,888 $152,715 15.266.269
1916-17--- $1,049,530 $441,231
1915-16 --846,676 377.094 22,916 261.478 139,343 14.164,922
R O A D , &c.— Operates about 138 miles of track comprising the street
railway systems in Guthrie (6.7 m.) and Oklahoma City (60 r . and the
a)
interurban lines to El Reno (placed in operation Dec. 3 1911). Norman
(placed in operation Nov. 15 1913) and Edmond (placed in operation M a y
28 1911). The extension to Guthrie was placed in operation July 20 1916.
Standard gauge, 65. 70 and 100-lb. r i s 110 p ass, and 32 freight and other
al.
cars; 2 oloctric and 1 steam locomotive. Power plant has 8.000 k. w.
capacity. Also owns valuable terminal station in Oklahoma City.
OFFICERS.— -Pres., Anton H. Classen; V.-P. & Gen. Mgr., J. W. Shart l Sec. & Asst. Gen. Mgr., Chas. Hoopes; Treas., E. J. Richart; Aud., W.
o;
C. Jones. General offices, Oklahoma City.— V. 102, p. 713, 1812, 1987.
OLEAN, N. Y.
WESTERN NEW YORK & PENNSYLVANIA TRACTION CO.
O R G A N I Z A T I O N . — Incorporated in N e w York and Pennsylvania on
Nov. 17 1906 aud i a consolidation of the Olean Street Ry. and the Rock
s
City RR.; the latter being a reorganization of the Olean Rock City Sc Brad
ford Ry.; Bradford St. RR. Co. has also been consolidated. Owns entire
stock of Shlnglehouse St. Ry. Operates mostly on private right-of-way.
F r a n c h is e s practically perpetual, except in City of Bradford, where rights
expire in 1944.
On April 15 1910 up-State Public Serv. Comm, authorized company to
increase stock from $2,000,000 to $2,600,000 and classify shares as below.
8ee V. 90, p. 1103. $500,000 re . bonds were exchanged for $500,000 new
f
f r t preferred stock.
is
C a le n d a r
G ro s s
N e t (a ft e r
O th er
L ease
In terest A
B a la n c e ,
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a t u r it y ■
Y ear—
E a r n in g s .
T a x es).
In com e.
R en ta ls .
M is c e l.
D eficit.
C o m m o n $1,000.000 ($100)................
$1,000,000 .........
1917------ $745,000
First prer (6% cum) $600.0001
1916 ...... 620.274 $152,655
$822 $106,621 $257,087 $210'.23l
($100)................ f ___
J-J
600,000 Jan’
18.3%
1915 ...... 605,416
168,691
2,635
112.394
216,272
157.440 2d pref (5% non-cum) $1,000-1
000 ($100)............ I ________ ____
1,000.000 Nodiv’ yet
d
For 10 mos. end. Oct. 31 1917 ross earnings were $611,137: not, after
First and ref mtgo $5,000,0001 1906
5 g J-J
2,240.000 Jan. 1 1957
taxes. $166,063. In 1916, gross, 517,186; net, after taxes. $129,164.
gold ($1,000)--c*.tfflnt. at
Co., N.
Y., Trustee.
R O A D . — Total, 117.22 miles in operation. The Sacramento Valley Olean Streot Ry f r t mtgo\Equitable5Trust N
is
1899
g M148,000 Nov 1 1929
Elect. Ry. (11.8 miles, operated as a branch lino from Jan. 1 1915) was
$225,000 ($1,000) g..c*.tf/Int. at Fidelity Trust Co.. Buffalo, Trustee.
abandoned Aug. 1 1917 and work of tearing up tracks commenced.
Olean St Ry 1st exton mtgof 1901
5 g F-A
98.000 Aug 1 1931
OFFICERS.— Pres., Walter Arnstoln; V.-Ps.. S. L. Naphtaly and H. O.
$130,000 ($1,000) gold! Int. at Fidelity Trust Co., Buffalo, Trustee,
Breeden; Sec., Troas. & Gen. Mgr., H. A. Mitchell.— V. 102, p. 67, 251
(cannot be called)— c*.tf ISlnking fund of $2,000 commeoced In 1903.
1626, 1815, 2235; V. 105, p. 716, 1105; V. 106, p. 822, 1127.
B o n d s . — Of the $5,000,000 1st Sc r f bonds. $258,000 aro reserved for
e.
prior l o s Additional bonds for extensions and additions at 85% of cost.
in.
Are subject to ca l at 110 and Interest. See V. 91, p. 1162.
l
Sinking fund on Olean Street Ry. 1st mtge. of 1899 became operative in
OIL CITY, PA.
Nov. 1901, $4,000 being paid annually, $77,000 had been paid to Dec. 31
1917. Bonds cannot be called. A sinking fund on the 1st mtge. extension
CITIZENS’ T R A C T I O N CO.— A trolley road.
bonds became operative Aug. 1 1903; $32,000 had been paid into the fund
In Mar. 1917 control was purchased by the Municipal Service Co
Dec. 31 1917. In addition, the Shlnglehouse RR., whose stock i owned, has
s
a Malno holding eerporation, which see under Philadelphia, Pa.
$49,000 5 % bonds due In 1933, which have a sinking fund of $1,000 yearly.
O R G A N I Z A T I O N . — Incorporated In Pennsylvania M a y 23 1902. Owns
D iv id e n d s . — On 1st pref. 3 % seml-ann. from Jan. 1911 to Jan. 1918. inc .
l
and operates the Citizens'Light & Power Co., the Monarch Park Hotel Co
E A R N I N G S . G ro s s
N e t (a ft e r
O th er
In terest,
B a la n ce
(an amusement park with 60 acres of ground), the Big Rock Bridge Co*
Y e a r e n d in g — E a r n s .
T a x es ).
In com e.
R e n ts . & c .
f o r D ie s .
aud the Reno Bridge Co.
Doc. 31 1917—
$156,985
$5,641
$133,712
$28,914
On Sept. 1 1917 an increase in faro from 5 to 6 cents with special working Dec. 31 1916... $482,601
468,326
186,744
5,404
133.802
58,348
men's tickets in books of 18 for $1 became effective.
R O A D . — Operates in Olean and Bradford, and between those points;
D a te .
STOCK A N D BONDS
In terest.
and lines from Bradford to Lewis Run from Olean easterly through Ceres,
,
C o m m o n $1,000,000 ($50).......
ouU U3XC
where a connection i made (with the Shlnglehouse RR.) to Bolivar; from
s
"Q- J ”
Preferred $1,000,000 ($50).......
1.000.000 Apr -18. H 4
Olean westerly to Salamanca and thence to Little Valley; from Seneca
1
First mtgo $2,600,000 gold! 1912
5 A-O
1.392.000 Apr 1 1942 Junction, N. Y., to Olarkdale, Pa. Total about 98 miles of road. 70-lb.
[Pa. Co. for Ins. on
r i s 58 passenger cars, 30 freight cars, 5 snow plows.
al.
1917
6 M-N
OFFICERS.— Pros., W. R. Pago, Olean; V.-P. Sc Treas., Jos. B. Mayer
[Pa. Co. for Ins. on
000
N e w York: Soc., James P, Quigley. Salamanca; Gen. Mgr., 1 W. Miller.
.
* O f the $1,000,000 outstanding $400,000 are in tho treasury.
— V 90. p. 978, 1103; V. 91, p. 1182, 1712; V. 92. p. 732.
E L E C T R IC R A IL W A Y S
90
OMAHA, NEB.
O M A H A & C O U N C IL B LU F FS S T R E E T R Y .— A trolley road.
O R G A N I Z A T I O N . — Incorporated In Nebraska. Owns lines formerly
operated by Omaha Street Ry. Co.; leases the Omaha A Council Bluffs Ry.
6 Bridge Co. In Council Bluffs, la., until 19-17. together with I s bridge over
t
Missouri River, rental being $00,000 per annum. In addition to a l fixed
l
cj^pc •
jfrjs
L i t ig a ti o n . — An amended petition seeking a court decree ordering the
company to turn over to the city I s entire street railway property In
t
Omaha was filed in Jan. 1918 by Corporation Counsel Lambert. A Judg
ment for the company's earnings since Jan. 1917 was also asked.
Ihe
action was based on the provision of the franchise grantod the Omaha
Horse Car Co. (this company’ predecessor), by which i s property was to
s
t
revert to tho city on Jan. 1 1917. V. 106, p. 86.
F a r e D e c i s i o n . — District Judge Sears on M a y 12 1914 granted a temporary
Injunction restraining tho enforcement of the city ordinance providing for
7 fares for 25c.. ponding the t i l of the suit, on the ground that the rate
ra
would be confiscatory. V. 98, p. 1638.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
C o m m o n $10,000,000 ($100)............ - ~
$5,000,000 Apr 18,1%
Pref 5 % cum from Jan 1 19041 __— 5 Q-J
4,000,000 July 17, IK
Fhgl0 o h i J ( r5%%00",065'g\ 1902 5 g J-J
c°lK M ,
9.019,000 Jan 1 1928
($1,000) no sink fund.c*.tf IInterest at Guaranty Trust Co.. N e w York.
S tock a n d B o n d s — $5,000,000 com. and $1,000,000 pref. stock are set
aside for add’ 9c Imp'ts. Of the f r t consols, $381.000 owned and in treas.
ns
is
D iv i d e n d s . First dividend on pref. stock, 1 K % . was paid April 1 1904.
—
and same amount quarterly to and including Apr. 1918- On com., 1st dlv_
2%, paid July 1907. In 1908 to 1911, 4 % per ann. In 1912, 1913 and
1914, 5%. In 1915, 4 1 4 % . In 1916 and 1917, 4%. In 1918, Jan., 1%;
April, 1%.
R E P O R T . — For calendar years:
,
,
C a l.
Y ear.
C ross
N e t (a f t e r
E a r n in g s . T a x e s ) .
O th er
R en ta ls , P f . D l v .
Com m on
B a t ..
In c.
I n t . , & c . (5%).
D iv id e n d s .
S u rp .
$
$
$
$
$
$
*
1917— 3,395,161 1,056.290 17,368 631,850 200,000 (4%) 199,700 42,108
1916.-.3,253,327 1,127,146 14,840 631,850 200,000 (4%)200,000 110,130
R O A D . — Operates 162.53 miles of track, embracing a l the streot railways
l
In Omaha, Neb., and in Council Bluffs, la., including the Omaha and
Council Bluffs bridge.
„ _ „
,_ _
..
.
„.
„
OFFICERS.— Pres., O. W . Wattles; V.-P.. Frank T. Hamilton; 2d V.-P.
& Gen. Mgr., W. A. Smith; Sec. A Aud.. W. G. Nicholson: Treas.. A. S.
Widenor; Asst. Gen. Mgr., I . A. Leussler.— V. 106, p. 1345, 1797.
t
D iv i d e n d s . — Initial div. on pref.— -IK % — paid Oct. 1999 and same
amount quarterly since to and including Apr. 1918. In 1916 paid 7 % on
common stock. In 1917, 5%. None since.
E A R N I N G S . — For years ending Doc. 31:
C a le n d a r
Y ear—
G ro s s .
N e t a fte r I n t . C h a r g e s M is c e lT a xes.
(N e t),
la n e o u s .
D m (le n d s .
B a la n ce ,
S u r n lu s
1917...... $365,407
$142,989
$67,982
$250 *56,757
$18,000
1916______ 360,601
166,573
67,888
132
70,993
21,560
L a test E a r n in g s . — For year end. Mar. 31 1918, SToss, *380.591; not,
after taxes, $143,656; iut. chgs., $69,608; divs., $35,224; balance, $38,824.
R O A D . — Operates 13 miles of trolley road in city of Ottumwa, Iowa.
Weight of ra l , 60-lb. T. Standard gauge. 43 cars. Also does municipal
is
commercial and residence electric-lighting (including 85 miles of polo line
carrying 204 miles of wire): supplies electric power for stationary motors,
Ac., and operates a system of steam heating, with 3 miles of mains. 1 resent
generating capacity, 3,050 k. w. A 66,000-volt transmission lino from
Ottumwa to Batavia, 14 miles, was completed early in 1918.
OFFICERS.— Pres., Arthur S. Huey; Sec., R. J. Graf; Treas., J. J.
O'Brien; Mgr., O. E. Fahrney; Gen. Aucl., B. W. Lynch; Gen. Mgrs..
H. M. Bvliesby A Co., Chicago, 1 1 — V. 99, p. 675; V. 103, p. 413, V. 105.
1.
p. 998; V. 106, p. 925. 1598.
PADUCAH, KY.
P A D U C A H T R A C T I O N & L I G H T CO.
O R G A N I Z A T I O N . — Incorporated in Maine on Nov. 17 1905 and owns
a l tho securities or the Paducah Traction Co. and Paducah Lt. A Power Co .
l
which companies do ontiro electric railway, gas and commercial e octric
lighting and power business, and also a steam-heating business ,in 1 aducah.
Street railway and electric-lighting fr a n c h is e s expire In 1931 and 1932, re
spectively; gas and steam-hoating franchises aro perpetual.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $1,000,000 ($100)..... —
------- *1.000,000 - - - - - - - - - J-D 1 T
L ,°7
Pref 5 % cum $1,000,000($100)--Coll trust mtge $2,000,000/ 1905
5 g M-N
599,000 Nov 1 1935
gold
........... -tfllnt. at State St. Trust Co.. Boston. Trustee.
Padu St Ry 1st M $100,000 g( 1890
0 8 J-J,
60,500 July 1 1920
rd St.
4 c °'-1 r 8 o
o 0 06o7u!s ' i m 3
/
Paducah °r Ry. mortgage
$250,000 2 callable at par Int. at Fidelity A Columbia Trust Co.,
Louisvlllo,Trustee.
.
and Int__________ c*Artf
6 M-S
98.500 Sept l 191$
Peop L P A R y 1st M $100 1898
000 gold callable in wholes Interest at Citizens’Savings Bank, Paducah.
or part at par A Int--- ntf Mechanics’Tr. A Sav. Bk., Paducah, Trust.
5 g J-J
238,000 July 11932
(1) O m aha & C o u n c il B lu ffs R a ilw a y & B rid ge.
Paducah City Ry M $1,000, 1902
000 g ($500-31,000) _c*Artf Int. at N. Y. Trust Co.. N. Y., Trustee.
O R G A N I Z A T I O N . — Incorp. In Iowa in 1902. An electric road. Is
335,000
leased to the Omaha A Council Bluffs Street Ry. For terms of lease, see Notes payable Feb. 28 1918-- -
statement of tho latter above. Owns entire capital stock of the Omaha
S tock a n d B o n d s .— $100,000 prof, stock In addition to amount reported
Council Bluffs A Suburban Ry. and tho Lake Manawa A Manhattan Beach outstanding i held in treasury. Red. at 110. Of tho $2,000,000 c l . t .
s
ol r
Ry. The $600,000 mortgage of tho former company, made to the Royal bonds. $495,000 are reserved to rotiro prior Hens. $269,000 aro in treas.,
Trust Co. of Chicago and Albert E. Johnson, as trustees, i a l held by tho $98,000 in sink, fund not canceled and $539,000 for future requirements.
s l
Ry. & Bridge Co. Lake Manawa & Manhattan Beach has no funded debt. Callable as a whole at 105 and int. at any time. A s in k in g f u n d , i earned,
f
F r a n c h is e s run until 1946. On Nov. 6 1911 U. S. Supreme Court suspended,
of 1 % per ann. of bonds out commenced Nov. I 1906 and becamo obligatory
pending appeal, the order of the Inter-State Commerce Comm. (V. 89, p. Nov. 1 1911. Of Paducah St. Ry. bonds of 1890, $39,1)00 held by sink,
1597), reducing the fare from Council Bluffs to Omaha from 15 to 10 cents. fd. on Jan. 1 1918. Of i s bonds of 1893, $60,500 reserved to rotiro 1st M.
t
Y. 93, p. 1387, 940. On June 9 1913 the U. S. Supreme Court held that bonds duo 1920: 32,000 held in sink, fund Jan. 1 1918. Mortgage closed
the Commission had no authority to make the reduction.— V. 90, p. 1702. oxcopt for refunding purposos. Of Paducah City Ry. bonds, $87,000 are
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $1,500,000 ($100)......' ........$1,500,000 --------Pref 4 % cum from Feb 1 19071 ___
F-A
1.500,000 In l9l7,4%
bonds matured Sept. 1 1917 but were extended for 1 year.
lst^ consol mtg« $2,66o,o6o| 1902 5 J-J
1,902,000 Jan. 1 1928
($1.000) gold______ c*tf (Interest at Central Trust Co., N. Y., Trustee
D iv i d e n d s . First div. on preL stock, 1 % , was paid Dec. 1 1906. and
—
B o n d s . — Of the new 1st consolidated mtge. for $2,000,000. $108,000 are
1 % was paid again on June 1 1907. Nono sluce.
reserved for improvements. V. 89, p. 1234, 1281; V. 94. p. 1119. $000,000
E A R N I N G S . — Of combined cos. for 12 mos. onding Doc. 31:
bonds of tho Omaha Council Bluffs & Suburban Ry. are deposited as secur
B a la n c e .
Y ear—
G ross.
N e t a f t . T a x . I n t e r e s t . S in k . F d s .
ity for the O. A O. B. Ry. & Bridge consol. 5s.
, x
def.$17,597
1917______ $304,682
$72,604
*72,809
*17,392
D iv i d e n d s . — Dividends have been regularly paid on pref. stock since 1902.
sur. 10,687
97,362
70,940
15,735
R O A D . — Comprises 33.909 miles of track. Including the trackage or the 1916______ 310,963
35 passenger
R
D.—
milos
Omaha Council Bluffs A Suburban Ry. and tho Lake Manawa A Manhattan and O A other Embraces 19.3stationof track; standard gauge,
2
cars. Power
capacity, 1,830 k. w
Beach Ry., embracing the entire street railways of Council Bluffs. Also
OFFICERS.— Pres.. Frederick P. Royce; V.-Ps., Harry T. Edgar and
owns bridge between Omaha and Council Bluffs over tho Missouri River.
OFFICERS.— Pres., Geo. S. Wright; V.-P.. G. W. Wattles; See.. Dwight P. Robinson, Boston: Sec., Alvah K. Todd; 'Irons., Henry B .Saw
.
C. T. Stowart; Treas., J. P. Greonshields.— V. 96, p. 1702; V. 102, p. 1060. yer; Gen. Mgrs.,Stone & Webster Mgt. Assn., Boston.— V .83, p. 122J
O M AH A & L IN C O L N R A IL W A Y & L IG H T C O .
Controlled by the same interests as tho Illinois Traction Co. (see under
Champaign, I f )
l..
O R G A N I Z A T I O N . — Incorporated In Nobraska In July 1913 as succes
sor to tho Nobraska Traction A Power Co. Stock outstanding, com.,
$48,800; pref., $57,500.
BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
1st mtge $2,250,000 ($1,000) I 1913
5 g A-O
$250,000 Oct 1 1938
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.
—
R O A D . — Operates from South Omaha to Papillon, 11.5 miles.
OFFICERS^— Pres., W. B. McKinley; V.-P., Chas. Zilly; Sec., E. A.
Macnutt; Treas., Geo. M. Mattis.— V. 98, p. 913
.
PARKERSBURG, W. VA.
K A N A W H A T R A C T I O N & E L E C T R I C CO.
C o n tr o l.— On July I 1917 control was acquired by tho Monongahola
Valley Traction Co. (see under "Fairmont. W . Va.”) Under an operating
.
agreement effective July 1 1917 for 5 years or until terminated by either
party on 6 months’notico, tho Monongahola Valley traction C o . manages
a l this co.’ properties, takes a l revenues, guarantees bonds and dobts
l
s
l
and renders an account at tho close of each year end. June 30.
O R G A N I Z A T I O N . — Incorp. in April 1915 and on Juno 7 1915 absorbed
by consolidation tho Parkersburg Mariotta A Interurban Ry., which was
incorp. in 1902 in W. Va., and purchased tho properties of the Parkersburg
Gas. Electric Light A Streot Ry., Parkersburg Interurban Ry. and Marietta
Electric Co., and on July 1 1911 tho properties of tho Muskingum Traction
Co. F r a n c h is e s perpetual or for long periods. _rho co. guarantees the
OSSINING, N. Y.
mortgage bonds of tho Parkorsburg, :
A south .Side Bridge Co.
H U D SO N R IV E R & E A STE R N T R A C T IO N C O .
M a tu r ity .
In terest.
O u ts ta n d in g .
STOCK A N D BONDS—
D a te .
O R G A N I Z A T I O N . — Incorporated in N e w York on Fob. 15 1906. On
........$1,100,000 .........
M a y 23 1911 Pub. Serv. C o m m , granted permission to build an extension C o m m o n stock $1,500,000--- ---Q-J
1.Q78.500 Soo text_
from Ossining through Briarcllff Manor, Pleasantvlllo and Sherman Park is^'A^of W 0 ° ? 0
$ 5 0 00?0^0Cgold/ 1916
5 ffF-A
1,766,600 Aug 11930
to White Plains, 17 miles. 3 miles in Ossining are in operation. On Dec.
($100, $500 A $1,000)-c*tflint, at Fidelity Trust Co., Baltimore, Md.
27 1911 Pub. Serv. Co m m . auth. $806,000 additional bonds to complete
5
150,000
1938
extension to White Plains (V. 94, p. 68). of which $55,000 have been issued. 1st M gold Parkersburg lines.. 1898
Consol mtge a llines....... - 1902
l
5
5o0,000
1942
On Dec. 12 1917 the P. S. C o m m , authorized an Increase in faros from
S to c k . — Preferred stock I cumulative from July 1 1916.
s
6 to 7 cents, or 4 tickets for 25c.
B o n d s . — Tho First A Refunding bonds aro issuable in serios as the oomSTOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity s
s
Stock $400,000........... -.........
$84,000 ----- --- pany’ needs require. The present serios, Sorlos “A," I in tho authorized
$2,000,000, of which
1917 to
1st mortgage $1,000,000 gold? 1907 5 g F-A...... 130,000 Feb 1 1957 •mount of$1,100,000 2-year 5 % $1,700,000 wore issued in April$150,009
notos duo Juno
($1,000)......... cArtfllnt. at Equitable Trust Co., N. Y., Trustee. retire tho Electric Company bonds paid April 15 1917, and for ex
Marietta
1 191/, and
B o n d s . — Aro subject to call on any int. day at 105 and int.
Ac. Provision I
s
made for refunding other underlying
E A R N I N G S . — For year ending Dec. 31 1916, gross, $25,332. In 1915. tensions, or before maturity. also bonds are subject to call Aug. 1 1920 or
bonds at
Tho
gross, $24,838; net, $360; fixed charges, $9,951; deficit, $9,591.
OFFICERS.— Pres., O. G. Bennett, Ossining; V.-P., Winfield Post, any int. date thereafter at 105. Fidelity Trust Co. and Van Loar Black,
Ossining; Sec., Henry D. Swain, Ossining; Treas. A Gen. Mgr., W. L. of Baltimore aro trustees. 1st M . bonds on Parkersburg linos aro subject
to call after Mar. 1 1918.
,
. . ,
.
Stratton; Asst. Treas., Frank Southard Jr.— V. 105, p. 2365.
D iv i d e n d s . — Dividends of 1 K % quarterly on prof, stock wero begun
Oct. 1 1915.
E A R N I N G S . — For year ending Dec. 31 1916, gross, $549,249; net.
OTTUMWA, IOWA.
$260,195: taxes, $26,919: interest, $94,690; surplus, $138,585. N o furthor
(THE) O T T U M W A R A I L W A Y & L I G H T CO.
_ ^
report will be available until that for tho year end. Juno 30 1918.
$030,200 com. and $234,500 pref. are owned by Standatd Gas A El. Co.
P R O P E R T Y . — Has system of stroet railways in tho cities of ParkoreO R G A N I Z A T I O N . — Incorporated in Delaware on Dec. 11 1905 as suc burg, W. Va., and Marietta, Ohio, and an iutorurban railway from Parkers
cessor to the Ottumwa Traction A Light Co. The latter's franchises for burg, W. Va., to Marietta, and from Marietta through Lowell, Ohio, to
streot railway, electric lighting and steam-heating plants were extended Bovorly, Ohio, aggregating about 60 miles. Uses bridge of Ohio River
by municipal election on July 8 1901 for 25 years. In 1917 secured a 13ridge A Ferry Co. between Marietta, Ohio, and Willlamstown, W. Va..
10-year contract for tho supply of wholesale electric power and light to in which I owns the controlling stock. Supplies a l electricity for light and
t
l
Batavia for distribution In various surrounding communities.
power in i s territory except street lighting In Marietta. In January 1910
t
R a te s . — In 1917 increased electric and steam boating rates with tho
completed a now modern electric generating station In I arkersburg with a
auth. of tho city officials who later rescinded thoir action. Tho higher total capacity of 12,500 k. v. a., of which 6,250 k. v. a. i installed, and
s
rates, however, remain in effect pending final court decision.
owns 2 steam electric stations, 1,600 h. p. and 2,400 h. p.. for reserve and
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
emergency purposes.
C o m m o n $650,000 ($100)...................
$650,000
See text.
OFFICERS.— Pres., Thos. Logan; V.-P., W . W . Mills; Sec., G . M .
Pref $1,250,000 ($100) 7 % cu----Q-J 15
503,700Apr’
18,lK%
Alexander; Treas., J. N. Tabb.— V. 104, p. 1145, 1702; V. 105, p. lo22.
1st and ref mtg $1,500,000/ 1906 5 g J-J
1,128,000 Jan 1 1924
gold ($1,000)........ c*\lnt. at Central Trust Co., Chicago, Trustee.
OttumTr A Lt 1st M (closed)/ 1901 5 g A-O
262.000 Oct 11921
PASCAGOULA, MISS.
($1,000) gold sk fd....c*l Int. at f . S. Mtg. A Tr. Co., N. Y.. Trustee.
f
P A S C A G O U L A S T R E E T RY. & P O W E R CO.— A trolley road.
S to c k . — Pref. I cumulative from and after July 1 1909; redeem, at 110
s
O R G A N I Z A T I O N . — Incorporated In Mississippi in Jan. 1903.
and div. on 60 days' notice. $346,800 pref. stock held in treasury.
B o n d s . — Of the 1st A r f M. for $1,500,000, $270,000 are reserved to
o.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
retire prior liens, $8,000 aro in treasury and $96,000 havo been redeemed. Stock S500.000 ($100)_____ ____
________
$500,000 _________
Tho new bonds are subject to call at 103 and int. A s in k in g f u n d of l% per lstmortgago $350,005 gold/ 1904
5 g J-J
350.000 Jan 1 1929
ann. on bonds out commenced July 1 1909. Tho Ottumwa Trac. A Light
($1,000)_____________ cllnt. at Columbia Tr. Co., Loulsv., Trustee.
Co. bonds can bo called since Oct. 1 1911 at 105 and int. and each year
B o n d s . — N o sinking fund aud bonds are not subject to c ll.
a
thereafter at Y i % less until par i reached. V. 74, p. 95. S in k in g f u n d
s
E A R N I N G S . — For cal. year 1917. gross, $79,749; not, after taxes,
on theso bonds of $5,000 annually i operative from 1907 to 1910 and $8,000
s
$13,168. In 1916, gross, $63,114; not. after taxes, $11,014.
annually from 1911 to 1921.
Ma y , 1918. j
E L E C T R IC R A IL W A Y S
91
R O A D . — Operates 9.7 miles In Pascagoula. Scranton, East Side and
Moss Point. Standard gauge, 59-lb. r i .
al
OFFICERS.— Pros., S. S. Bush, Louisvillo; V.-P. and Gen. Mgr.,
Attlla Cox, Jr., Louisville; Sec., J. D. Winston, Troas. Fidelity & Columbia
Trust Co., Louisvillo; Supt., L. J. Fohr, Pascagoula.— V. 82, p. 569.
V o tin g T r u s t . — The stock has been placed in a voting trust for five years,
under which dividends are restricted to 6 % per annum until at least half
of the 2d mtge. bonds and all of the 1 st M . bonds outstanding in excess
of $225,000 have been retired.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $850,000 ($100)..........
......
$187,500 _________
1st mtgo $750,000 gold ($100./ 1915
6 g J-D
419,900 Dec 1 1935
$500 and $1,000)____c*tf lint,at Pa. Co. for Ins.onLlvos,&c.,Phila.,trus.
PATCHOGUE, LONG ISLAND, N. Y.
Second mortgage $100,000) 1915
6 g J-D
97,000 Dec 1 1935
S U F F O L K T R A C T I O N CO.
gold ($1,000)-------c*tflint, at Wilmington (Del.) Trust Co., trustee.
B o n d s . — Remaining first mtge. bonds are Issuable for additional equip
O R G A N I Z A T I O N . — Incorp. June 27 1906 In N. Y. Is to construct an
electric road on Long Island about 23 miles in length, extending from Great ment, power plant and other property. Tho mortgages provido that the
s
South Bay at l atchoguo to the Sound at Port Jefferson, and from the town company’ net incomo be applied— 8 0% to the 1st M . and 2 0 % to the 2d M .
’
of Islip along the south shore to the village of Brookhavon, with trackage bonds— to tho purchase or bonds at not over par and interest, or to their
call at that price, tho bonds to be canceled. This sinking fund, however,
rights of about 3 additional miles In the town of Islip to tho village of Says
s
v l e One-half road will be owned In fee; remainder will bo constructed i not to excoed $50,000 in any ono year and i to bo reduced to 2 % of
ll.
bonds outstanding whon half the 2d M . bonds and all 1st M . bonds out
on public highways. F r a n c h is e s perpetual.
The Suffolk Syndicate (see “Elec. Ry. Sec.” of Jan. 27 1912), which was standing In excess of $225,000 have been retired. The fund became opera
originally to construct road, has been released from I s contract, and road I tive July 1 1917. $12,500 1st M . and $3,000 2d M . bonds have been
t
s
retired. Both Issues are redeemable, a l or part, at par and Int. on any Int.
l
to be built and equipped by subscription managers.
date on four weeks’ notice. The 2d M. Donds are a l owned by E. I.
l
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
du Pont do Nemours & Co.
Stock $500,000 ($100)__________
_____ See text
_________
EARNINGS.—
G ro s s
N e t, a fter
B on d
B a la n c e ,
First mortgage (see text)..tf/ 1907
5 J-J
See text July 11957
P e r io d C o v ered —
E a r n in g s . T a x . , D e p r . , & c .
In t.
S u r p lu s .
(Long Island Loan & Trust Co., Trustee.
Year ending Dec. 31 1917...$190,536
$5 7 ,2 12
$31,479
$25,733
S tock a n d B o n d s . — All tho stock and bond Issues excepting $60,000 each
9,223
7,515
1,708
of stock and bonds (paid to Suffolk Syndicate) are reserved to deliver to Aug. 16 toDec. 31 1916____ 35,796
OFFICERS.— Pres., J. Elliot Newlin; V.-P., A. F. Porter; Sec. & Treas..
subscription managers at $20,000 per mile. The 1st M . was originally
for $1,200,000 auth. bonds, but was subsequently reduced to $500,000. Carl N. Martin.— V. 102. p. 886; V. 104, p. 765.
V. 94. p.983.
R O A D . — Is to run from Sayvillo to Patchoguo and from Patchoguo north
PENSACOLA, FLA.
to Port Jefferson. About 8 miles completed and operated in Patchogue
P E N S A C O L A E L E C T R I C CO.
north to L. I. ItR. station at Holtsvllle and west to and through Sayvillo.
O R G A N I Z A T I O N . — Incorporated In Maine on July 6 1906, and I suc
s
OFFICERS.— Pres., Thos. L. Hughes; Sec. & Treas., John I . Benning cessor to tho Pensacola Electric Terminal Co, Owns the securities of the
I
ton.— V. 87, p. 1239; V. 94. p. 983.
Escambia County Elec. Light & Power Co.
Does a l the street railway
l
and (through the Escambia County Elec. Lt. & Pow. Co.) tho entire electric
lighting and power business of Pensacola. Railway franchise expires in
PATTON, PA.
1933; lighting franchise perpotual.
The 3-yoar coup, notes or 1916 wore Issued to retire $250,000 5-year 6 %
N O R T H E R N C A M B R I A S T R E E T RY. CO.
conv. notes due Mar. 1 1916 and floating debt.
S old .— 'Tho road was sold under foreclosure on Mar. 31 1918 to a com
S
AND BO
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
mittee representing tho holders of the $395,000 1st M. bonds of 1905 by C o mT O C K 1,050,000 N D S —
mon $
($100)..................
$800,000 .........
tho Cambria Title, Savings & Trust Co., Ebonsburg, Pa., trustee.
Prof $500,000 ($100) 6 % c u m .....
J-D 1
300,000
See text
E A R N I N G S . — For cal. year 1916, gross, $52,455; not, $14,359: taxes, 1st mtgo $1,500,000 gold._tf? 1906
5 g F-A
834,000 Aug 1 1931
$473. In 1915, gross, $50,869; not, $15,413.
lint, at Old Colony Tr. Co., Boston .Trustee.
Coupon notes $500,000 gold/ 1916 6 J-J
500,000 Jan 1 1919
R O A D . — Oporates 13 miles between Patton, Barnesboro and Carroll
($100, $500& $1,000)____ \Int. at Old Colony Tr. Co., Boston, Trustee.
town. Standard gauge, 70-lb. T and girder r i s — V. 106, p. 1231.
al.
S to ck . — The pref. stock i redeemable at 115.
s
B o n d s . — $554,000 are reserved for additions and Improvements at 80%
of cost and $26,000 are in treasury. A s in k in g f u n d of 1)4% per annum of
PEEKSKILL, N. Y.
bonds outstanding began Dec. 1 1907; first five payments were waivable,
PEEKSKILL LIGHTING & RAILROAD.
but becamo a fixed charge on Dec. 1 1912. Bonds subject to call as a whole
In 1909 Westchester Lighting Co..controlled byConsol. GasCo.ofN. Y., atany time at 105 and Int., and In part for sinking fund only. V.83,p. 156;
purchased tho entire common stock and a block of pref. of tho Peeksklll $86,000 have been canceled. Coup, notes are callable as a whole at 100
and Int. on 30 days' notice.
Lighting & RR. See Westchester Lighting Co., V. 89, p. 108.
D iv id e n s — First dlv., of 3 % ,
June 1
3 % was
O R G A N I Z A T I O N . — Incorporated as the Peoksklll Lighting Co. on July paid Dec. d2 .1907. In 1908 June was paid on pref.because 1907 and on com
dividend passed
of strike
12 1900; subsequently purchased tho Peeksklll Gas Light Co. and Peoksklll pany’ i
s nes. None to Dec. 1909, when 3 % regular and 3 % extra on
Electric Light & Power Co. N a m e changed as above upon purchase of tho accountlof accumulations were paid. March 1910 paid another 3 % on
Peeksklll Traction on Aug. 31 1900. Comprises a l tho gas, electric light. account of accumulations; June 1910 3 % regular and 3 % extra, paying up
l
ower and street railway Interests of Peeksklll. Franchises of electric- a l accumulations; Dec., 3%. In 1911, 1912 and 1913, 6 %. In 1914,
l
ghttng plants and railways are perpetual. Gas franchises liberal.
None to June
Tho company on Dec. 21 1917 was auth. by tho P. S. Co m m , to Increase Juno, 3%. extra account of1916, when 3 % was paid. 6 In Dec. 1916 3 %
and 1)4%
accumulations. In 1917. %. Dividends in
faros from 5 to 7 cents, with sale of 4 tickets for 25 cents.
arrears, 7)4%.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
E A R N I N G S . — For 12 months ending Dec. 31:
C o m m o n $500,000 ($100)--- ----------$500,000
1910, 4 %
Y ear—
G ross.
N e t ( a f l e r T a x i) I n t e r e s t .
S i n k .F u n d s .
S u r p lu s .
6 J-D
150,000 D o c ’
17,3%
Preferred $150,000 6% c u m . . --$146,778
$80,966
$12,702
$53,110
1917....... $350,459
1st intgo $750,000 ($1,000)1 1900 5 g A-O
646.000 Oct 11935
1916....... 280,100
122,764
79,762
12,913
30,089
gold sinking fund------c*(Intorest at N. Y. Trust Co., N. Y.. Trustee.
R O A D . — Operates 21.4 miles of track; standard gauge; 34 motor and
11 t ail pass, cars and 8 other cars. Power station has 2,800 k. w. capacity.
r
B o n d s . — Whole Issue (but no fractional part) can be redeemed on any
O F F I C E R S — Pres., Geo. J. Baldwin. N e w York; V.-P., Harry H.
interest date at 110 and interest. S in k in g f u n d I provided at tho rate of
s
$10.80 per bond outstanding, beginning Oct. 1903. Tho remaining bonds Hunt; Sec., Alvah K. Todd; Treas., Henry B. Sawyer; Managers, Stone &
can only bo issued for extensions, &c., at 75% of actual cost, and only whon Webster Mgt. Assn., Boston, Mass.— V. 104, p. 1899; V. 106, p. 397.
net earnings of tho previous 12 months are equal to at least twico the Inter
est on tho outstanding bonds and tho proposed issue. Seo V. 71, p. 913,
$14,000 are In treasury.
PEORIA, ILL.
D iv i d e n d s . — 6% per annum paid on prof, stock up to Dec. 1917. On
P E O R I A R A I L W A Y T E R M I N A L CO.— For statement of this company
common, In 1906, 1 %; In 1907, 3)4%; in 1908, 4%; in 1909, 4%; In 1910
toe our “Railway and Industrial” «<>etien.
4%.
None since.
E A R N I N G S . — For year ending Dec. 31 1917, gross, from r a ilic a y only
PETALUMA, CAL.
$62,389; not (after taxes), from r a ilw a y , def. $12,175; net from other
sourcos, $48,529; non-operating incomo, $38; total income, $36,392; fixed
P E T A L U M A & S A N T A R O S A RY.
charges, &c„ $40,980; deficit, $4,588.
’
O R G A N I Z A T I O N . — Incorporated in California June 20 1903.
■ R O A D . — Owns and operates 10.64 miles of track In Peokskill and to Lake
R e o r g a n iz a tio n P l a n . — Under date of Oct. 25 1917 the committee named
Mohegan and Verplanck’ Point, with branch to State Camp.
s
below issued the following plan of reorganization under which a l but S5.000
l
of tho $655,000 1st M . bonds (or deposit certificates of Merc. Trust Co. of
OFFICERS.— Pres., F. A. Stratton, Mt. Vernon; V.-P. & Gen. M gr
l
Stuart Wilder, Ossining; Sec., Dr. B. W. Stillwell; Treas., I . A. Carter’ San Fran. Issued therefor) and a l tho $217,000 2d M. bonds have been de
t
posited with tho First Federal Trust Co. of San Francisco. Foreclosure sale
Asst. Treas.. I . D. Swain, Ossining. General office, Peokskill, N. Y.—
I
i oxpocted to take place sometime ih June 1918.
s
V. 106. p. 190.
R
P U T N A M & W E S T C H E S T E R T R A C T I O N CO.
O R G A N I Z A T I O N . — Incorporated in N e w York in July 1906. Stock
authorized and Issued, $75,000; par, $100. First mtgo., auth., $200,000;
outstanding, $71,000 gold (c*tf) 5 % J-J, duo July 1 1937; Int. at Columbia
Trust Co., N o w York, trustee. Subject to call at 105 and Int. Earn
ings for year ending Dec. 311916, gross, $9,661; net, $1,155; fixed charges,
$3,994; deficit, $2,839. On Doc. 12 1917 the P. S. Co m m , grantod auth.
to increaso fares from 5 to 7 cents with sale of 4 tickets for 25 cents. Road,
4 milos from Peoksklll to Oregon, Putnam County. Pros. & Asst. Treas..
O. G. Bonnott; V.-P., W . L. Stratton; Sec. & Treas., H. D. Swain. V. 108.
D. 190.
_______ . ______
P r o p o s e d C a p ita liz a tio n u n d e r R e o r g a n iz a tio n P l a n .
C o m m o n S tock ($100) authorized_______________ ________ ..$1,000,000
To bo allottod pro rata at par as far as available to holders
of present $994,100 stock upon payment of $10 a share___ $956,600
Issuaole for 2d M. bonds, 2 0 % _______________________
43,400
$250,000
P r e fe r r e d S tock ($100) 6 % cum. red. at par; authorized_______
Issuable for 2d M . bonds, 8 0 % ... ...... ..............
$173,600
Available for unforeseen exp. and future requirements_____
76,400
F i r s t M t g e . 2 - / . 5)4% b o n d s (First Fed. Tr. Co., trustee); auth. $750,000
5lr
Issuablo $ for $ for present 1st M . 5 % bonds_____________ $655,000
Issuablo for 2d M . bonds, 2 0 % ________________________
43,400
Available for unforeseen exp. and future requirements_____
51,600
Thero i a floating debt of $76,600 secured by pledge of treasury securities
s
($80,000 1st M . and $33,000 2d M. bonds). The cash to be received from
prosont shareholders or others in payment for the new stock will bo used to
PEN ARGYL, PA.
redeom tho plodged bonds or to purchase them i sold by the pledgee.
f
V o tin g T r u s t . — The new common stock will be deposited with the First
S L A T E B E L T E L E C T R I C S T R E E T RY.— A trolley road.
O R G A N I Z A T I O N . — Incorporated in Pennsylvania on Feb. 14 1899. Fodoral Trust Co. for 7 years under proxy agreement; pref. stockholders
Was formerly loased to tho Lehigh Valloy Traction Co., but lease canceled have the right to elect a majority of directors In case of non-payment of
on M a y 10 1904, owing to default In paymont of rontal. For changes In thoirndividends.
B o d s . — Callable at 105 for sinking fund. The mtgo. provides that
directorate and officers in Feb. 1917. see V. 104, j . 765.
p
earnings ordinarily applicable to com. divs. shall be apportioned as follows:
C o m m itte e f o r 2 d M . 4s.— George K. Mosser, Allentown, Pa.; Alan O.
()
1
If earnings justify and conditions permit, a dlv. of 2)4 % shall be paid
Dodson, Bethlehem, Pa.; W. W . Doughton, Brown Bros. Bldg., Philadel
phia, Pa.; Thomas A. Keck, Falmouth. Mass.; Frank M. Horn, Catasau- on com. stock. (2) Any amount remaining after such payment shall be
qua, Pa.; Hubert E. Rogers, Sec. & Counsel, 60 Wall St., N. Y, City. distributed 50% to common stockholders, 2 5 % to a trust fund to retire
now 1st M . bonds and 25% to retire preferred shares.
Depositary; N e w York Trust Co., N. Y. See V. 103, p, 2156.
R e o r g a n iz a tio n C o m m itte e . — Rudolph Spreckels, Geo. P. McNear, Frank
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
A. Brush, Allen I Kittle. W . H. Hamilton, Russell Lowry, H. P. Good
.
Stock $360,000 ($50)...........
........
$360,000
man, James Otis and L. B. Mackey, Sec. For further details see V. 105,
First mtgo $130,000 gold? 1912
5 g J-J
130.000 '
"1942 p, 2456; V. 106. p. 296.
($500 & 31,000)-----c*tftlnt. at the E. P. Wilbur Tr.Co.,So.Both.,Tr.
On Oct. 11 1917 tho Cal. RR. Comm, estimated the depreciated repro
Second mtge $270,000 gold) 1912
4 g J-J
270,000
1942 duction value of tho property as of Dec. 31 1916 at about $1,380,000, and
($100.$500 & $l,000).c*tf\lnt. at E. P. WilburTr.Co.,So.Both., Trust. stated that the road had been “efficiently and honestly managed, but
B o n d s . — 1st mtgo. bonds are callable at 102 on any int. date. 2d mtgo.
noedod higher transportation rates, which were accordingly authorized
bonds are subject to call at par on any Interest date. Int. on 2d M. — see below.
bonds I In default.
s
F a r e I n c r e a s e s . — In Oct. 1917 the Cal. RR. Comm. auth. the co. to
E A R N I N G S . — Year ending Dec. 31 1917, gross, $102,808; not, after Increaso the minimum charge for passengers between any two points outside
taxes, $25,126. In 1916, gross, $90,599; not, after taxes, $23,498.
tho limits of Petaluma, Sebastopol and Santa Rosa from 5 to 10 cents; to
R O A D . — Operates 18 miles of f
iack from Nazareth to Bangor. 67-lb. discontinue tho sale of $5 worth of transportation for $4 25, and to Increase
r i s 10 cars. 6 miscellaneous cars.
al.
tho price of scrip books representing $10 worth of transportation from $7 50
OFFICERS.— Pres., A. I . McAdams, Phila., V.-P., Dr. J. C. Koller; to $9. V. 105, p. 1708. Those increases becamo effective on Nov. 15 1917.
I
Sec., G. A. Schnoebell; Treas., Thomas J. Ryan; Gen. Mgr., J. T. Hamil
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
ton.— V. 103, p. 2156; V. 104, p. 765.
994.100 .......
C o m stock $1,000,000 ($100).... ............
1st mortgage $1,000,000 gold) 1904
5 g M-S
655.000 Mar 11924
($1,000)____________ c*j Interest at Mercantile Trust Co., San Fran.,
I Trustee, or at U. S. Mtgo. & Tr. Co., N. Y
PENNSGROVE, N. J.
2d mortgage $250,000 gold) 1905
6 g A-O
217,000 Apr 1 1917
S A L E M & P E N N S O R O V E T R A C T I O N CO.
($1,000)_____________ clMercantlle Trust Co., San Fran., Trustee.
O R G A N I Z A T I O N . — Incorp. in N o w Jersey Sept; 14 1915. Completed
S to c k . — Remaining $5,900 stock i held In treasury.
s
a line from Pennsgrove to bridge over Salem River at Salem, N. J., 14
P e ta lu m a <& S a n ta R o sa B o n d s . — The first mortgage bonds have a s in k in g
milos long, of which 3)4 miles between Ponnsgrove and Deep Water Pond f u n d "amnio to take care of bonds." Sinking fund payments aggre
Siding has been in operation since Aug. 15 1916, and tho whole lino to Salem gating $6o,150 are overdue. $170,000 are reserved for extensions at
Bridgo (14 miles) since Jan. 22 1917. 70-lb. T r i s gauge, 4 f . 8)4 I . $17,500 per mile and 75% of cost; $95,000 have been retired; $80,000
al;
t
n
14 pass, cars, 1 combination car, 3 snow plow, 1 sweeper and 1 work car.
plodged as collateral. Are subject to call at 110. $33,000 second mortgage
[Vol. 106.
E L E C T R IC R A IL W A Y S
92
bonds are held in treasury. 2d M. bonds originally matured April 1 1915.
but were extended for two years.
E A R N I N G S . — For years ending Dec. 31:
Y ear—
G ross.
N et.
C h a r g e s.
S u r p lu s .
1917____________ _____ $292,452
$73,380
$59,974
$13,406
1916--................ 273,534
76,648
61,602
15,046
612,886 railway passengers carried In 1917, against 619,729 in 1917.
R O A D . — Operates 43 miles of track from Petaluma through Sebastopol
to Santa Rosa, with branches Sebastopol to Forestville and Liberty to
T w o Rocks. Connects at Petaluma with steamers for San Francisco.
Owns steamers ‘Gold’ and “Petaluma.” Standard gauge. 70-lb. T r i s
‘
’
al.
OFFICERS.— Pres., Thomas Maclay, San Francisco; Gen. Mgr., E. H.
Maggard, Petaluma.— V. 105. p. 1708; 2456; V. 106, p. 296, 1689.
PHILADELPHIA, PA.
U N I T E D N A T I O N A L UTILITIES CO.— A holding co.
O R G A N I Z A T I O N . — Incorp. in Del. Feb. 26 1917, and has acquired
practically the entire common stock of National Properties Co. (see below).
Through i s subsidiary companies supplies electric light and power to more
t
than 50 cities and towns in Eastern United States, gas to 11 cities and towns,
and operates 623 miles of electric railway service in portions of the same
territory. See V. 104, p. 1703. Franchises either perpetual or for long
periods; no burdensome restrictions.
The pref. stock was brought out in April 1917 at the rate of $1,000 pref.
and $500 com. stock for $1,000. V. 104, p. 1703. The Utilities Service
Corp., Phila., which brought out the stock, also offerod to exchange the
stocks of tho United National Utilities Co. for 4-6% c l . t bonds of the
o l r.
National Properties Co. on the basis of $700 6 % prof. and $350 com. stock
of the United Co. for $1,000 bond of the National Properties Co.
S T O C K A N D NOTES.
D a te .
In terest.
O u ts ta n d in g .
M a tu r ilg .
Com.stock. $10,000,000 ($100)........ ...
$3,000,000 __________
Pref.6 % cu.$10,000,000($100)___
Q-M
2,500,000 D e c ’ 7 1 ^ %
1
Coll. tr notes, $1,800.00011917 6 M-S
.
1,800,000
Mar 1 1920
($1,000)__ ____ _____ tf/Pa. Co. for Ins. on Lives, &c., Phila., trustee.
P r e fe r r e d S to c k . In case of liquidation or dissolution or distribution of
—
assets, holders of pref. stock shall be paid par and divs. before any amount
shall be payable to holders of com. stock. Callable at any div. period at
105 and divs., and no additional shares can be issued except under proper
restrictions.
N o t e s . The direct obligation of the co. and secured by $2,500,000 (entire
—
Issue) Nat. Properties Co. com. stock and $570,000 American Rys.-Jersey
Central Traction c
oll, trust 6s Red. any int. date at 101 and int. Tax
.
refund in Pennsylvania.
D iv i d e n d s . — Quar. divs. of 1 A % on pref. stock were begun Juno 1 1917.
E A R N I N G S . — Income of the controlled cos. for cal. year 1916 available
for i t., &c., $528,162; annual in . on notes, $108,000 and pref. divs., $150,
n
t
000; balance for common, $270,162
OFFICERS.— Pres., Van Horn Ely; V -P., William O. Sproul; Sec. Sc
Treas., Walter W . Perkins.— V. 104, p. 2236; V. 105, p. 390, 1310.
N A T I O N A L P R O P E R T I E S CO.
Controlled by United National Utilities Co.— see above.
O R G A N I Z A T I O N . — Incorp. in Del. In M a y 1912 to acquire and oper
ate gas, electric and water companies, and street or interurban railways
or other public utility properties.
A c q u is i ti o n o f A m e r i c a n R g s . — As of Jan. 1 1916 acquired control of the
American Railways Co. through purchase of a majority of I s $6,713,150
t
common stock then outstanding, paying therefor at par in guar. c ll, trust
o
bonds. (As of Sept. 11 1917, $6,479,750 of the stock had been so acquired.)
At the same time i turned over to the American Rys. Co. of Del. i s hold
t
t
ings of $4,060,000 com. stock of the Wilm. Sc I hlla. Trac. Co., receiving in
’
payment a further amount of $2,560,000 com. stock and $1,500,000 pref.
stock of The American Rys. Co. of N. J. See V.101,p. 1473, 1714. Total
common stock of American Rys. Co. owned as of Sept. 11 1917, $9,039,750.
Also owns or controls the Water Co. of Tonopah, Chester County Lt. Sc
Power Co. and N e w Castle County Electric Co.
Holders of the company’ 6 % pref. stock of record Aug. 14 1916 were
s
given the opportunity (up to Sept. 1 1916) of exchanging their shares for
shares of the American Rys. Co. 7 % pref. stock owned, on the basis of
10 National Prop. Co. 6 % shares for 9 American Rys. Co. 7 % shares, with
adjustment of accrued uiv. In cash. V. 103, p. 666. Holders of about
9 6 % of Nat. Prop. Co. pref. stock availed themselves of tho privilege.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r il g .
C o m m o n $1 0 ,
000,000 ($100)... ............. $2,491,400 Sop’
17,1%
Pref cum $10,000,000 ($100)......
6 J-J
1,699,400
Seo text
Coll tr M $7,000,000 (par not? 1916 See toxt
6,479,750 Jan 11946
lessthan$100)_________ (Continental-Equlp. T. & T. Co., Phil.,Trus.
S to c k . — $7,900 com. stock In addition to amount reported outstanding
I held in treasury. Pref. stock sink. fd. provision began. Jan. 15 1918.
s
B o n d s . — The coll, trust bonds boar lnt. at 4 % for first two years, 414%
for next 2 years and 5 % thereafter, with a provision to Increase tho l
nt.
rate to equal tho rate of dividend, up to 6 %, paid by the company on i s
t
common stock. Red. on or after Jan. 1 1921 at 10214 and lnt. Secured
by deposit of common stock of the American Rys. Co. acquired in exchange
for the bonds and the additional $2,560,000 common stock received in ex
change for Wilm. Sc Phila. Trac. stock, against which no bonds will be
Issued. V. 101, p. 1714.
D iv id e n d s . — 6 % i being paid on pref. stock. Initial div. on com.— 2 % —
s
paid July 1916: Dec., 3%. In 1917, July, 2%; Sept., 1%.
E a r n in g s . — Gross earnings of subsidiary cos. for year euding Dec. 31
1916, $8,960,798; in 1915, $7,671,313. Not earnings of Nat. Properties Co.
( n l proportion of undistributed net earns, of sub. cos.) for 1916, $812,541;
ic.
pref. divs., $63,203; common divs., $124,570; surplus, $624,768.
OFFICERS.— Pres., Van Horn Ely, Phila. V.-P., A. O. Robinson,
Pittsburgh; Sec. & Treas., I . P. Carr, Phila.— V. 103, p. 666, 2341;
I
V. 104. p. 952, 1045, 1702, 1899.
T H E A M E R I C A N R A I L W A Y S CO. (of N e w Jersey).
On Jan. 1 1916 the National Properties Co. acquired control through
purchase of practically a l of the company’ com. stock at par. See remarks
l
s
under “Organization” below.— V. 101, p. 1464. 1712, 1805.
O R G A N I Z A T I O N .— T h e American Rys. Co. was incorp. under laws of
N. J. In 1900 as a consolidation of the former American Rys. Co. and the
United States Electric Ry. & Light Co., which latter had only $1,000 of
outstanding stock. In Feb. 1913, after the passage of the "Seven Sisters"
b l s in N. J., as a precautionary measure, a Dclawaro charter was taken out
il
by the "American Railways Co. of Del.,” with the same authorized capital
stock as Tho Am. Rys. Co. (of N. J.), but with only $1,000 paid in. T h e
Am. Rys. Co. held this $l,O0O stock and subscribed to tho remainder. In
Dec. 1915 the Am. Rys. Co. of Del. called on The Am. Rys. Co. to take
$1,500,000 pref. and $2,560,000 com. stock, and accopted In lieu of cash,
same par or stock of the latter, with which l (tho Del. co.) acquired the
t
stock of tho Wilm. & Phila. Trac. Co.
In Dec. 1905 purchased a controlling interest In the Scranton Ry. Co.,
paying par ($50) for both common and pref. stock. V. 81, p. 1847; V. 82,
p. 1375; V. 104, p. 71.
In Jan. 1910 acquired control of tho Johnstown Pass. Ry.,tho Lynchburg
Trac. Sc Light Co. and the Roanoke Trac. & Light Co. (V. 89, p. 1595:
V. 90, p. 235), and made two new issues of collateral trust bonds to provide
In part for cost of same. V. 89, p. 1595; V. 90, p. 235. In Jan. 1914 tho
Amer. Rys. sold the Johnstown Pass. Ry. stock to the Johnstown Traction
Co. (see under "Johnstown”) and the collateral trust bonds were called for
payment July 1 1914.
The Poakland Corporation was formed during 1909-10 with $50,000
stock ( l owned by American Rys.), to acquire and own real estato In
al
vicinity of Lynchburg.
In Aug. 1911 acquired the Ohio Valley Elec. Ry. and issued $2,000,000
c
oll, trust bonds to pay for same and for ext. and impts. V. 92. p. 1435;
V. 93. p. 468.
On March 1 1917 acquired the National Gas, Elec. Light Sc Power Co.
(V. 101, p. 135.) In M a y 1917 acquired the Jersey Central Traction Co.
(which seo under "Keyport, N. J.”) and the Monmouth Ltg. Co.
In Jan. 1917 $1,750,000 10-year 5 % coll, trust bonds were Issued to
provide In part for the $2,500,000 bonds maturing April 1 1917. Tho new
bonds are secured by tho same collateral as the original Issue. V. 104, p. 361.
O u ts ta n d in a .
M a t u r it g .
STOCK A N D BONDS—
D a te .
In terest.
$9,460,000 Dec T7.2%
C o m m o n $21,000.000 ($50).......
J-D 15
4.000,000 Fob T 8 .1V\
Pref 7 % cum $4,000,000($100)--7 Q-F
1.672.000 Feb 1 1919
Secured notes $2,300,000---- 1916
5 F-A
1.750.000 Mar 1 1927
Coll trust $1,750,000 gold--.. 1917
5 M-S
19li
5 F-A
2.500,000 Aug 11931
Collat Trust $2,500,000 gold'--conv ($500 & $l,000).c*tf Int. at Merchants’Un. Tr. Co., Phila..Trus.
1911
5J-J
2,000,000 Jan 11961
Ohio Vail Elec coll tr gold.nt
5J-J
987,500 Jan 1 1930
Lynchb & Roan coll trust 1910
$1,000,000 gold ($500 & Int. at Real Estato Title Ins. & Trust Co.,
Philadelphia, Trusteo.
_ ___„
$1 ,
000) ___________ c*tf
5 M-S
982,600 Mar 11922
Nat Gas _____ __________ 1917
coll trust $1,000,000
($100, $500. $ l , 0 0 0 ) - C * - t f \ I n t . at Commercial Tr. Co., Phila., trustee.
Jersey Central Tract coll trf 1917
6 g M-S
570,000 Mar 1 1947
Int.
$570,000 gold ($l,000)c*tf T ‘ at Commercial Tr. Co., Phila., trustee.
90,000
See text
6 F-A
Car trust ctfs Series " A ” 1913
($1 ,
000) ---tf
See text
103.000
6 F-A
1914
Oar trust ctfs Series B
($1 ,
000) .......— c*ntf
See text
129.000
5 F-A
1916
Oar trust certificates Ser "O
($1 .
000) ............. c
See text
6 A-O
212,000
Car tr cert Ser D ($1,000)-c*tf 1917
S to c k . — Pref. stock i red. at any time at 110. Pref. Sc com. stock are
s
listed on Philadelphia Stock Exch. The pref. stock was auth. by share
holders on Oct. 17 1912 (V. 95, p. 889, 1038, 1206) and the auth. amount of
common stock was reduced from $25,000,000 to $21,000,000.
N o t e s . For securities pledged as c l , for notes, seo V. 102. p. 521. Red.
—
ol
on any int. date at 100)4 and int. on 60 days notice. $628,000 have boon
redeemed. Penn. Co. for Ins. on Lives & Grant. Annuities, Phila., trustoe.
B o n d s . 'Tho 5 % Scranton Ry. pref. stock gold trust certlfs., duo 1935.
—
were called for redemption at 102)4 and Int. on March 1 1917. V. 104.P.71
The collateral for the bonds of 1917 consists of $1,475,000 stock of the
Altoona & Logan Val. Eloc. Ry. and $1,975,000 stock of the Scran. Ry. Co.
Coll, trust bonds of 1911 have no s in k in g f u n d but bonds are subjoct to
call on any l date at 102. The collateral for tho bonds consists of $2,
nt.
250,000 stock (out of $2,500,000 issued) of the People’ Ry. of Dayton and
s
$1,600,000 f r t consol. 5s of the Chicago Sc Joliet Electric I y
is
t.
Lynchburg-Roanoke c l . t . bonds are red. ou any int. day at 102)4 ana
ol r
Int. They are secured by deposit of 14,975 shares and 9,725 shares of
Lynchb. Trac. & Lt. Co. and Roanoke Trac. & Lt. Co. stocks. respectWely.
Bonds are listed on tho Philadelphia Stock Exch. Tho Jersey Central Trac
tion c ll, trust 6s are a l owned by the United National Utilities Co. and
o
l
deposited under i s collateral notes. Are secured by $531,400 com. stock
t
of the Jersey Central Traction Co. and $305,000 com. stock of tho M o n
mouth Lighting Co. Red. at 1 0 2 'A and int. on any int .date.
C a r T r u s t C e r t if i c a te s . Of Series “A," 15 certfs. mature Aug. I each year,
—
to 1923 inclusive. Series "B.” 11 ctfs. mature Aug. 1 1915 to 1925 Incl.
15 mature Aug. 1 1926. Series " O ” ctfs. mature $11,000 yoarly Aug. 1
1917 to 1920 and $12,000 yearly Aug. 1 1921 to 1928. They wero Issued by
the Logan Trust Co. and unconditionally guar., p. & i (end.), by the Amer.
.
Rys. Co. V. 103, p. 1031. Series " D ” certificates mature $21,000 each
July 1 from 1918 to 1926, and $23,000 July 1 1927.
C O N T R O L L E D . — The following I a l s of the securities owned by The
s it
American Railways Co.:
,.
_ ,
O w n ed hg
O u ts ta n d in g . A m . H . C o .
B ook
V a lu e .
Amer. Rys. Co. of Del. common stock__ $2,561,000 $2,561,000 $2,561,000
,do
do
do preferred stock.. 1.500,000 1,500,000 1.500,000
726.500
_
do
Ohio Valley col , trust 5s_ 2.0O0.OOO
l
11393
1,500
do
Lynchb. & Roan. c l . t . 5s.
ol r
987,500
32,500
32.500
do
preferred stock___________ 4,000,000
79.062
105.000
do
Nat. Prop.— A. R. Co. 4-6s 6.900.000
403,750
1.500.000 1.500.000
Altoona Sc Logan Valloyf Stock......
388,280
454.000
(Consol M. 4)4s 3.754,000
149.800
155.000
Boyd County Elec. Co. stock________
155,000
92,270
100.000
Bridgeton Electric Co. [Common stock..
100,000
50.000
50.000
(Preferred stock. .
50,000
459,364
600,000
Bridgeton &MUlviIle(N.J.) [Stock....
500,000
16.580
16.000
Traction C o ... ...... \5s.......
500,000
121,676
Chicago & Joliet Elec. Ry. [Stock...... 2,300.000 2.300.000
(Gen. M. 5s.. 1.600,000 1.600.000 1,280,000
58.193
100,000
Chic. Sc Dosplalnes Val. El. Ry./Stock .. 1,100,000 1 ,
800,000
000.000
(1st M.5s 1,000.000 1 ,
115,237
Chicago Rys. Co. participating ctfs-------530.000
5 ' ',666
3o
Consolidated Light, Heat & Power stock 530,000
150.000
150.000
150,000
Dellwood Park Co. stock____________
156,519
157.500
Electric Co. of N e w Jersey/Stock.... .
157,500
293.128
319.000
(5s........
319,000
59,507
300.000
Electric Securities Co., N. J./Common.
300,000
40.000
40.000
(Preferred.
40,000
10.000
10.000
Franklin Real Estate Co. stock-------10,000
150.000
150.000
Ironton Eloctrlc Co. stock----------150,000
265,061
631.400
Jersey Central Trac. Co. common stock. 531,400
5,148
8,000
Johnstown Trac. C o / C o m m o n ________ 1,000,000
754,400
754.400
(Preferred........ 1,000,000
751.124
750.000
(Stock.......
750,000
1,800
2,000
Lynchburg Trac. Sc Light 1st 5s------800,000
598.887
704.000
lConsol.M. 5s. 720,000
305.000
305.000
Monmouth Lighting Co. capital stock.. 305,000
963,384
National Gas, Elec. Light & Power Co.. 1,403,800 1,376,200
Ohio Valley Elec. Ry., common_______ 2,000,000 1,979,080 2,128,078
People’ Ry. of Dayton, O., stock_____ 2,500,000 2,500,000 2,734,229
s
781.124
975.000
Roanoko Trac Sc Light stock......... 1,000,000
000,000 2,005,200
Scranton Railway Co. C o m m o n ______ 2,000,000 2 ,
39.959
994.400
/Common stock 1 ,
000,000
500.000
500.000
Sprlngfiold, O., Ry. Co.) Pref. stock___
600,000
15.106
12.500
Union Traction Co. stock___________
_____
50.000
50.000
The Peakland Corporation__________
50,000
34.000
40.000
Wilm. Sc Phila. Trac. 1st coll, trust 5s_
_____
Total book value____________________ _______________ $22,053,952
R E P O R T . — For fiscal periods:
„,
.
— Y e a r s e n d in g D e c e m b e r 31—
— 6 M o s . end.
1917.
1916.
1915.
D e c . 31 ’
14.
Gross income, a lsources.$1,568,718 $1,538,269 $1,145,625
l
$520,509
Interest, taxes, &c.....
874,130
785,931
686,239
226,422
Net Income.......
$694,588
$752,338
$459,386
$294,087
C o m m o n dividends...(4%)378,400(4%)378,400(4)^)302,099(2%) 184,615
Preferred dividends...(7%)280,000(7%)280,000 (7%) 140,000(3A ) 70,000
Surplus...........
$36,188
$93,938
$17,287
$39,472
C O M B I N E D EARNI N G S OF C O N T R O L L E D COMPANIES.
1917.
1916.
1915.
Operating revenues....... ...... $12,863,405 $8,840,913 $5,438,247
Operating expenses and depreciation. $8,630,331 $5,068,082 $3,209,764
Taxes..--.--.... .... .........
596,387
388,891
285,705
C a le n d a r Y e a r —
Operating income_______ ....... $3,692,687
Interest, rents, &c_______ .......$2,371,170
..
30,698
Sinking fund....... ....
$3,383,940
$1,504,376
32,366
$1,942,778
$896,399
26,243
Net income.... ............. $2,401,868 $1,829,366 $1,073,578
D I V I D E N D S . — Quarterly dividends of 1H % each on prof, stock wore
begun in Fob. 1913. First dividend on common stock, 1%, Doc. 1900.
In 1901 paid 1 % each in Mar., Juno and Sopt.; in Doc. paid l)i%. In
1902 paid 1
each in Mar., June and Sept.; in Dec. 1902 div. was In
creased to 1 A 7 o , which rato was continued up to and including Sopt. 1914.
In Doc. 1914 rato was reduced to 1 A % (V. 99, p. 1450). In 1915 March,
1 1 4 % : June, 1 1 4 % : In Sept. 1915 rato was furthor roducod to 1 % (V. 101,
p. 526): Dec.. 1%. In Jan. 1916 dividend periods wore changed to June
and Dec. 1915. V. 102, p. 436. In 1916 and 1917, 4%.
R O A D . — Total track about 435 miles; about 789 cars. Soo also Wilming
ton & Phila. Trac. Co. bolow. Also owns about 316 acres of land for parks
in Altoona. Dayton, Springfield, Bridgeton, Joliot, Lynchburg andRoanoko.
O F F I C E R S of Tho Amorican Rys. Co.; Pros., Van Horn Ely. V.-Ps.,
John Gribbol, C. L. S. Tingloy; Sec. & Treas., Walter W. Porldns; Asst.
Sec., Asst. Treas. Sc Comp.. Frank J. Pryor Jr., Oon. Counsel, I . B. Gill;
I
Gen. Mgr., H. J. Crowley. General offices, Witherspoon Bldg., 1321
Walnut St., Phila.— V. 105, p. 2093; V. 106, p. 1035, 1229, 1343.
(
1) Bridgeton & Millville Traction.— Trolloy.
O R G A N I Z A T I O N . — Chartered in Now Jersey as successor M a y 3 1897
to the South Jorsey Traction Co., sold In foreclosure. Company owns two
t l roads besides the trolloy road. F r a n c h is e i porpotual.
ol
s
Ma y , 1918.)
E L E C T R IC R A IL W A Y S
93
OFFICERS.— Pres., Paul O. Martin; V.-Ps., H. J. Crowley and C. L. S.
In Nov. 1917 the N e w Jersey P. U. C o m m , approved the action of the
company in abandoning the special rate of 6 tickets for 25c. and 50 for *2. TIngley; Sec. & Treas., W. W. Perkins; Asst. Sec., Treas. & Comp., F. J,
Pryor Jr.: Gen. Mgr., Geo. C. Towle.— V. 98. p. 1609: V. 100, p. 557.
S T O C K S A N D B O N D S — D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
( ) Altoona & Logan ValleySElectrlc Railway.— Trolley.
7
O
ZATIO
Owns
guar ($1 000 and $500)(Interest at Equitable Trust Co., Phlladel- the R G A N I$65,000 N . — Incorporated In Pennsylvania Aug. 5 1903. of the
entire
stock of the Lakemont Park Co., also $58,000
(cannot bo called)--- *ctf( phia. Trustee.
$59,000 stock of the H o m e Electric Light & Steam Heating Co. of Tyrone
B o n d s . — For form of guaranty by American Railways Co. see V. 71, P (Into which the Blair Electric Co. Incorporated in 1908 to do a lighting busi
491
Tho bonds woro listed on the Philadelphia Stock Exchange in Feb. ness, having perpetual franchise and 10-year contract to light town of Bell190*1 The following are deposited as security Undor the mortgage:
wood, was merged In 1910-11) and leases that company for 99 years from
1,000 shares of the stock of the Bridgeton Rapid Transit Co.
July 1 1903; $54,000 of this stock I deposited as additional security for
s
377
•
• .............
Brlagoton & Millville Turnpike Co.
the consolidated mortgage. In Aug. 1903 absorbed by consolidation the
$250,000 (entire Issue) 5 % gold bonds of tho Bridgeton Electric Co.
Ry. (previously owned) and
* E A R N I N G S . — For year end. Dec. 31 1916, gross, $146,397; not, after City Passenger Ry. and the Tyrone Electric$1,500,000. V. 77, p. 1745.
Increased I s capital sotek from $500,000 to
t
deducting taxes, interest, &c., $7,535.
„ ,. ^
, ,, ,
,
,,
In 1912 acquired the Logan Light & Pow. Co. of Tyrone, and operates same
R O A D . — Bridgeton to Millville, 11 miles; Bridgeton to Bivalve, 21H
conjunction with theiHome
miles; Bridgeton, local, 5 % miles. Total, 3 7 M miles. Oars: pass., 29; In The American Railways Co.Elec. Lt. & Steam Htg. Co. & V. 94, p. 696.
owns entire stock Altoona
Logan Valley
$454,000 consolidated mortgage bonds.
0tO°FFICERs!— Pros., Van Horn Ely; V.-Ps., n. J. Crowley and O. L. S. Electric Ry. and $53,000 additional bonds were issued for exts. and impts.
In Nov. 1917
Tinglev Sec. & Treas., Walter W . Perkins; Gen. Mgr., B. F. Hires.—
STOCK A N D BONDS—
D a te .
I n t e r e s t . O u ts ta n d in g . L a s t d i e ., A c .
V. 72, p. 282; V. 105, p. 2093.
Stock $1,500,000 ($50).........
......
$1,500,000 See text
(2 Bridgeton ElectricCo.— Acquired in 1899 by American Railways Co. Consol mtge $4,000,000 gold? 1903 4 ^ g F-A15 3,807.000 Aug 15 1933
)
O R G A N I Z A T I O N . — Chartered in N e w Jersey Dec. 2 1895. Supplies
($500 and $1,000) guar by] Interest at Equitable Trust Co., Philadellight and power in Bridgeton, Cedarville, Newport, Fairton, Dividing Creek
American Rys C o
c&r.tf l phia. Trustee.
and Port Norris, N. J. Stock, common auth. and outstanding, $100,000;
Remaining $193,000 bonds are reserved for extensions. These bonds are
prof auth. $200,000; outstanding. $50,000. Bonds. $250,000 l s t M.5%
;uaranteed, p. & i , by endorsement by American Railways Co. N o sinking
.
gold bonds ( f $1,000 each, dated July 1 1900, duo July 1 1930, Interest und and not subject to c l .
t)
al
J & J at offico of tho company: Real Estate Title Insurance & Trust Co.,
D iv i d e n d s .— I n 1896 paid 2 H % ; In 1896-97, 2 ^ % ; In 1897-98, 1898-99,
Philadelphia, Trustee. Whole issue i pledged with the trustee of the 1899-00, none; in 1900-01, 6 M % ; in 1901-02, 10%; in 1902-03, 10%; In
s
mortgage of tho Bridgeton & Millville Traction. This was done so as to 1903-04, 5 H % : In 1904-05, 5.7%; 1905-06, 6 %; in 1906-07, 5%; in 1907-08,
bring the two properties (which are practically one) under tho one mortg’. 1 H % ; in 1908-09 and 1909-10. none; in 1910-11, 1 1-3%; in 1911-12, 1.43%.
e
In 1912-13, 2.5%; in 1913-14, 5%. For 6 mos. ending Dec. 31 1914, 2.5%.
(3) Chicago & Desplaines Valley Electric Ry.
O R G A N I Z A T I O N . — Incorporated in 1901 as a consolidation of the Chic. In 1915, 4.35%. In 1916, 6 %.
& Desplaines Valloy Elec. Ry. and the Desplaines Valley Elec. Ry. The
E A R N I N G S . — For year ending Dec. 31 1916, gross, $730,174: surplus,
Amorican Railways owns tho entire capital stock, of which $1,000,000 after taxes, interest. &c., $99,300.
i pledged undor the mtge. of the Chicago & Joliet Elec. Ry., and also owns
s
R O A D . — Operates 54 miles of track, connecting Altoona, Bellwood,
the entire $1 ,
000,000 bonds, tho wholo amount being pledged.
Hollidaysburg and Tyrone, uauge, 5 f . 3 in. Operates 124 cars.
t
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
OFFICERS.— Pres. Van Horn Ely; V.-Ps., n. J. Crowley and C. L. 8 .
Firs? ’mortgage!0 $1,000,666? 1901
5 M - N * ” ^ l j m o O O May" l 1931 Tingley; Sec. & Treas., Walter W. Perkins; Gen. Mgr., S. S. Crane.— V. 79,
"
p. 680; V. 80. p. 649, 710, 2456. 2619; V. 82. p. 333, 391,803; V. 94. p. 699.
( $ 1 0 0 0 ) g o ld
1 . . C * t f l l n t . a t I l l i n o i s T r . & S a v . B k . , Chic., T r u s t e e
B o n d s _Tho full Issue of the fir t mortgage bonds has beon deposited as
s
( Scranton Railway.— A trolley road.
8)
collateral security undor the bonds of the Chicago & Joliet Electric Ry.
American Railways owns practically a l of the stock.
l
R O A D . — Extends from the Will County line, whore i joins the Chicago &
t
O R G A N I Z A T I O N . — On Jan. 1 1897 assumed a l tho assets and l a i i ies
l
iblt
Joliot Electric Ry., to tho city line of Chicago on Archer Ave. Total, 41.45
miles. Branch from Summit to Lyons. The through route Chicago to of the Scranton Traction Co., &c. V. 63, p. 1064; V. 64, p. 85. As at
s
Joliot was oponod Sept. 25 1901.
TI T
_ T a present constituted, i a merger of 21 companies. Operates, practically
OFFICERS.— Pres., Van Horn Ely; V.-Ps., I . J. Crowley and O. L. S. without competition, in the Lackawanna Valley from Forest City, in Sus
I
quehanna County, to Plttston, in Luzerne County, serving, among others,
Tingloy; Sec. & Troas., Walter W . Perkins; Gen. Mgr., J. R. Blackhall.—
the cities of Scranton, Pittston and Carbondale, and the boroughs of Arch
V.73.P. 183.
bold, Blakely, Dickson City, Dunmore, Jermyn, Mayfield, Moosic, Old
(4) C h ic a g o & J o lie t Electric R y — T r o l l e y .
O R G A N I Z A T I O N . — Incorporated as a consolidation of tho Chicago & Forge, cTaylor, Throop, Vandling, Avoca, Duryea, Forest City.
F r a n h is e s perpetual.
Joliot Rapid Transit Co., the Joliet Street Ry. and the Joliot RR. I? oper
a re I n c a se S u sp
in fare from
ated by power purchased from the Public Service Co. of Northorn I l
l inois. toFbecomer eeffectivee n d e d .—7The increaseheld up by 5 to 6 cents scheduled
Sept.
1917, was
the
Tho American Rys. owns $1,600,000 bonds and the entire $2,300,000 capital S. C o m m , pending further hearings.— V. 105, p. 1210. Pennsylvania P.
stock In Nov. 1905 tho American Rys. purchased 63 acres of land near
S T O C K A N D B O N D S — D a te .
in terest.
O u ts ta n d in g .
M a t u r it y .
J l o ' which was converted into a park. This park i owned by the Delloit,
s
Stock ($50)...................
... .... $2,000,000 .........
wood Park Co., al of whose stock I hold by tho American Railways Co.
l
s
5 .F-A
2,500,000 Feb 11947
F a r e I n c r e a s e . — In July 1917 1 1 Pub. Utilities C o m m , granted an increase Scranton Ry lst&ref M $15,-7 1917
1.
000,000 g ($1,000)..c*rtf lint, at Merch. Un. Tr. Co., Phila., trustee.
In faros to maximum charge of 2c. per mile with a minimum charge of 5c.
6 g M-N
1,000,000 Nov 1 1932
This raised the average rate per mile.from 1.34c. to 1.87c. and will allow Scran Trac 1st M $1,000,000/ 1892
($1,000) gold no opt._c*tflint, at Merchants’ Union Trust Co., Phila.
tho company to earn a l t l over 6 % on I s investment.
ite
t
Scran Pass Ry 1st M($1.000)tf 1890 6 M - N
100.000 M a y 1 1920
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Peop.StRy 1st M($l,000)g.tf 1888 6 g F-A
200,000 Aug 11918
Stock, $2,300,000 ($100)--.-- ---------- $2,300,000
People’ St R y gen mtge g..tf 1891 6 g J-D
s
100,000 Dec 11921
Chicago & Joliot Electric Ry? 1901
5 g M-N
1,600,000 M a y 1 1931 “
5 J-J
11932
Ry
g $2 000,000 ($1,000) c*tf lint, at Illinois Tr. & Sav. Bk., Chic., Trustee Scranton ~ . mtge $2,500,000 N1897York gTrust Co..1,100.000 NovTrustee.
N. Y. City,
gold ($1 000).......c*tf e w
Joliot R R gonoral mtge, gold/ 1898
5 g M-N
400,000 Apr30 1923 Scranton Ry gen mtge $1, 1910 5 M - N
$1,000,000 Nov 1 1920
$400,000 ($1,000 each)..tf lFidelity Trust Co., Portland (Me.),Trustee.
000,000 gold ($1 .
000)---tf Int. at Equitable Trust Co., Phila., Trustee.
B o n d s . — Of the now $2,000,000 mortgage, $400,000 are rosorvod to retire
d
1893 6 g J-J
1923
underlying lions. $2,200,000 of tho outstanding capital stock of the Chi Scranton & Carb’ 1st mtge Int. at American Rys. 150,000 Jan ILack.
Co., Phila.
$1 ,
000,000 g ($l,000).c*tf
cago & Joliet Electric Ry., $1,000,000 of tho $1,100,000 stock and $1,000.
T. & S. D. Co., Scranton, Trustee.
Free
000 (ontiro issue) bonds of the Chicago & Dosplaines Valloy Electric Ry. are Scran &of State tax.
Pitts M $525,000 g 1893 6 g A-O
295,500 Oct 1 1923
deposited undor this mortgage as collateral security. Entire issue of the
($1,000 and $5G0)--.c*ntf Int. at Union Trust, Trustee, Phila. Nos. 1
$2 000,000 gold 5s m a y bo called at 105 and lnt. The $400,000 Joliet RR.
Guar, by Scranton Trust. .
to 400 $1,000 each & Nos. 401 to 650,3500
gen. mtge. 5s originally f l duo in 1918, but were extended for 5 years. 1st M, Carbondale Traction 1892 6 g J-J
el
150,000 July 1 1922
Co, c*&r, $150,000, gold Interest at Central Trust Co., N e w York,
— For year onding Dec. 31 1916 (i c . Chic. & Desplaines
nl
Trustee.
($500 and $1,000).......
Vail. Elec. Ry.), gross, $651,956; net, after taxes, $162,615; int., $271,166; Carbondale Ry gen mtge gold 1910 5 J-J
800,000 Jan. 1 1933
$800,000 guar p & i ctf Provident Life & Trust Co., Phila., Trustee.
—
deItOAI)!— Extends from Joliet to the Will County line, where I connects
t
B o n d s . — Of the $2,500,000 Scranton Ry. mortgage 5s of 1897, $1,400,000
with tho Chicago & Desplainos Valloy Electric Ry. for Chicago. Has
85 23 miles of track ( n Oh. & D. V. El. Ry.). Line between Joliet and are reserved to retire prior bonds at maturity. The Scranton & Pittston
i cl.
Chicago was formally oponed Sept. 25 1901. 82 passenger and 18 other cars. bonds are guaranteed by the Scranton Ry. Scranton Ry. gen. M. bonds
of 1910 are subj. to ca l at any int. period at 102 and int.
l
OFFICERS.— Same as for Chicago & Desplainos Valley Electric Ry.—
First mortgage of Carbondale Traction, due 1922, has a sinking fund of
V. 73, p. 183. 722; V. 106, p. 1343.
.
$2,500 per annum after July 1 1895, but bonds cannot be called. Carbon
( People’ Railway (Dayton).— A trolley road.
6)
s
dale Ry. mtge. for 1910 i unconditionally guar., p. & L, by the Scranton
s
Acquired in 1899 by the American Railways Co.
Ry. Subject to call on any lnt. date at 105 and lnt. V. 93, p. 1785.
Tho 1st & ref. 5s of 1917 are callable after 1922 at 102 K and int. Guar.,
O R G A N I Z A T I O N . — Incorporated in Ohio June 18 1896. Comprises 31
.
miles of track in Dayton, Ohio; operates 99 cars. Tho American Railways p. & i , by endorsement, by Amer. Rys. Co. $4,896,000 are reserved for
Co. owns entire capital stock. In Juno 1908 authorized amount of stock underlying bonds and $7,604,000 for Impts. undor guarded restrictions.
V. 104, p. 1703.
was Increased from $1,100,000 to $2,500,000.
D iv i d e n d s . — Since 1906 paid dividends varying from $125,000, the mini
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
------$2,500,000 ......... mum, to $263,000, the latter amount in 1914; $175,000 was paid in 1915
Stock. $2,500,000 ($100)........
First i f
r tge “White Line,” 1895 5 g A-O
300,000 Oct 1 1925 and $195,000 in 1916.
$300,000 ($500) gold, rodjlnterost at Union Savings Bank & Trust Co.,
R O A D . — Owns and operates a l the street roads In and around city of
l
Oct 1 1900 at 110.....ntf 1 Cincinnati, Trustee.
Scranton, aggregating 90 miles. Operates 206 cars.
First mtge "People’ R y ” | 1897 5 g J-J
s
200,000 Jan 1 1927
E A R N I N G S . — For year ending Dec. 31 1916, gross, $1,403,480; surplus,
$200,000 ($500), gold, red Interest at Union Savings Bank & Trust Co., after taxes, int., &c.. $204,584. Annual int. on $2,500,000 1st & ref. 5s
at 110
___ ntfl Cincinnati, Trustee.
E A R N I N G S . — For year onding Dec. 31 1916, gross, $579,851; net. after $125,000.
OFFICERS.— Pres., Van Horn Ely; V.-Ps., Henry J. Crowley and O. L.
interest, taxes, &c., $150,432.
OFFICERS.— Pres., John A. McMahon, Dayton; V.-Ps., H. J. Crowley S. Tingley; Sec. & Treas., Walter W. Perkins; Gen. Mgr., W. E. Boileau.
and O. L. S. ingley. Phlla.; Sec. & Treas., Walter W. Perkins, Phila.; — V. 102, p. 1437; V. 104, p. 74; V. 104, p. 1703; V. 105. p. 1210.
Gen. Mgr., Geo. O. Towle.— V. 86,p. 1530; V. 97, p. 176.
( Lynchburg Traction & Light Co.— Trolley.
9)
( Springfield (Ohio) Railway.— Trolley.
6)
In 1910 Amorican Railways acquired control. V. 90, p. 167, 235.
O R G A N I Z A T I O N . — Incorporated In Ohio Oct. 20 1892; '9,944 shares of
O R G A N I Z A T I O N . — Incorporated In Virginia, and I a consolidation on
s
the common stock and 5,000 shares of the pref. stock have boon acquired M a y 1 1901 of the Lynchburg Electric Railway & Light, tho Lynchburg &
by the Amorican Railways Co.
, ,
Rivermont Street Railway (fr a n c h i s e perpetual) and the Lynchburg Gas
N e w F r a n c h is e . — In April 1913 the company accepted a now 25-yoar f r a n
Co., and comprises a l the street railways, gas works and electric-light
l
c h is e which gives the city tho right to arrange a l schedules and route a t cars, plants or Lynchburg and hydraulic power development at Reusens. Va.;
l
l
to purchase the road at any time after five years at i s depreciated valuation also owns a l the stock of the Lynchburg Water Power Co.,and has assumed
t
i
plus any additional sum necessary to make the aforesaid amount equal to tho $500,000 1st mtge. 5 % bonds of that company.
the bonded debt and Interest thereon and plus a further sum (In f l com
ul
In 1.907 authorized stock was increased from $750,000 to $1,000,000, to
pensation for a l profits lost by purchase) equal to 10 % of the actual de provide for the convertible feature of new bonds, but these bonds have since
l
preciated value; and the city may, at any time, I service i unsatisfactory been retired, none having been converted.
f
s
take possession and operate the road at an annual rental equal to 6 %of i s
t
American Railways owns entire capital stock, $704,000 of Lynchburg
physical valuation. The company must pay the city l%|oflts gross earn Trac. & Lt. consol, mtge. bonds, and $2,000 1st M. bonds.
ings for tho f r t 10 years, and 1M % for final 15 years, in lieu of a l car and
is
l
F a r e s . — In Jan. 1918 applied to the State authorities for authority to
polo licenses. Fare, 6 tickets for 25 cents and 25 for $1 until gross earnings discontinue tho sale of 6 tickets for 25 cts. and 16 school tickets for 50 cts,
reach $800,000 yearly, whon 7 tickets must be given. V. 96, p. 1298; and to establish a straight 5-cent fare.
V. 100, p. 557.
STOCK A N D B O N D S —
D a le .
I n te r e s t.
O u ts ta n d in g .
M a tu r ity .
On April 8 1914 the Ohio P. U. Comm, authorized the creation of a now
J-D
$750,000
See text
mtge. of $5,000,000 to refund an Issue of tho same amount made in 1913. Stock. $1,000,000 ($50)---------------- .....
6gM_
N
8 .000 M a y 1 1931
First mtge $1,000,000 sink fd 19()1
These bonds were offered In M a y 1914. V . 98, p. 1609.
'
(31,000) gold------ c*ntf Rea! Estate Trust Co., Philadelphia. Trustee
I n te r e s t.
O u ts ta n d in g .
M aturity. Lynchb Trac & Lt con mtge, 1911 5 %
STOCK A N D BONDS—
D a te .
720.000
1931
$1,000,000
C o m m o n (par $100)-----------$1,750.000----------ntf Real Est. Title Ins. & Tr. Co., Phila., Trust.
Preferred $500,000------------6%
500.000
111.000
1930
Lynchburg Gas Co first mort 1900 5 M-S
First mtge $5,000,000 ($100. ( ___
J ___ ____ I
___________„ 1914
5 g M-S
_____
See text
1.194,000 ______
gage $250,000---tf Int. at Real Estate Trust Co., Phila., Trust.
$500 & $1,000) g s f._c*i tfllnt. at Roal l s . T. & t Tr. Co., Phila.. Tr. Lynchburg Water Power fir t 1902
i
it
.
s
5
452,000 July 1 1932
B o n d s . — $400,000 of the above outstanding bonds provided for by s rial
e
mortgage $500,000--- ntf Real Estate Trust Co., Philadelphia, Trustee
maturity, i e , $12,500 due Sept. 1 1914 to 1923 in l , $25,000 duo Sept. 1
. .
c.
B o n d s . — Of the 1st mtge. bonds, $111,000 are reserved to retire bonds of
1924 to 1934, the remaining bonds ($4,600,000) duo Sept. 1 1935.
like amount of Lynchburg Gas Co. due 1930, and of which no more are to be
S in k in g F u n d . — When more than $1,250,000 bonds outstanding, sinking
fund of 1% to 1923 and 2 % thereafter of bonds outstanding over and above issuod. Sinking fund of 1 % per annum became operative in 1906, which
tho $1,250,000 of original Issue. Tho escrow bonds ($3,766,000) roserved was increased In 1916 to l h % - Entire issue can be called at any time.
D iv i d e n d s . — In 1904. July, 1%: Nov., 1%; in 1905. 2%; in 1906, 2 H % ;
for extensions, betterments, &c., at 8 0 % of cost. Redeemable any interost
n 1907, 3%; in 1908, 5%: in 1909 .5%; in 1910. 3%; in 1911, 6 %: in 1912.
date at 102 and lntorost. V. 98, p. 1609.
%; in 1913, 9.339%; in 1914. 12.12%; in 1915, 8 . %; In 1916, 8 %.
8
R O A D . — Owns 39 miles of track. Operates 82 passenger cars.
E A R N IN G S .— For year ending D ec. 31 1916, gross, $543,056; net.
E A R N I N G S . — For year ending Dec. 31 1916. gross, $117,317; net, after
after interest, taxes, & c., $79,660.
taxes. $115,468; net income, $15,829.
?
94
E L E C T R IC R A IL W A Y S
R O A D . — Owns and operates 18 miles of track In city and suburbs
60 to 100-lb. T and girder r i s Standard gauge. Operates 39 pass, cars:
al.
3 other; 1 sweeper. Owns Iilvermont Park.
OFFICERS.— Pres., Van Horn Ely; V.-Ps.t O. L. S. Tlngley and I . J.
I
Crowley; Sec. & Treas., Walter W . Perkins.— V. 92, p. 1500; V. 106, p. 499.
[Vol. 106
R O A D , &c.— Comprises street railway lines in Wilmington, N e w Castle
and Delawaie City, Del., and Chester and Media, Pa., and Intorurban lines
connecting these places with each other and with Philadelphia, a total of
140 miles of track. Also does electric light and power business in Wil
mington, N e w Castle, Delaware City, Newark ana vicinity in Delaware,
the southeastern part of Delaware County, Pa., and Elkton, Chesapeake
City and vicinity. In Maryland.
E A R N I N G S . — Including Southern Pennsylvania Traction Co.:
C a l. Y e a r —
G ro ss E a r n s .
N et E a rn s.
C h g s . & T a x . B a l .,S u r p .
$1,090,299
$751,132
$339,167
1916............. $2,548,151
1915.
...... -- 1,935,390
931.660
653,196
278,464
OFFICERS.— Pros., Van Horn Ely, Phila.: Vice-Pros. & Gen. Mgr.,
T.
W. Wilson, Wilmington; Sec. & Treas., C. N. Ryan, Wilmington;
Aud., O. E. Yost. Wilmington.— V. 100. p. 2012,1190,1372, 1466.
(10)
Roanoke Traction & Light Co.— A holding company.
O R G A N I Z A T I O N . — Incorporated in Virginia July 28 1908. Owns ths
Roanoke Water Power Co., the Bedford Power Co., the James River Water
Power Co. and tho Roanoke Heat, Light & Power Co., and controls, through
ownership of a l the capital stock, the Roanoke Railway & Electric Co. Ths
l
Roanoke Water Power Co. had $350,000 bonds which were bought In and
mortgage satisfied. The Roanoke Heat, Light & Power Co. had Issued
8250,000 bonds, a l of which have beon retired (V. 87, p. 1089, 1160).
l
The Arner. Rys. Co. owns $975,000 of the $1,000,000 stock.
( ) Wilmington & Chester Traction.
1
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
United Powor & Trans. Co. owns 39.995 out of 40.000 shares of stock.
Stock. $2,000,000 ($100)....................$1,000,000 ...... ...
L e a s e . — Part of this company’ lines aro leased to tho Wilmington Sc
s
First mortgage and collateral f 1908
5 g F-A
1,790,000 Aug 1 1958 Phila. Trac. Co. and part to the Southern Pennsylvania Trac. Those In
trust $3,000,000 ($1,000)lint, at Bloren & Co., Phila., or Baltimore Delaware, viz., Wilm. City Ry., Gordon Heights Ry., Front Sc Union St.
gold_____________ c*ntf l Trust & Guarantee Co., Baltimore, Trust. Ry. and Wilm. & Edgem. El. Ry. aro leased to Wilm. Sc Phila. Trac. (soe
B o n d s . — $750,000 bonds are reserved to retire a like amount of bonds of above); those in Penn., viz., Chester Trac. Co. and i s subsidiaries are leased
t
the Roanoke Ry. & Elec. Co. The remaining $460,000 are reserved for ad to Southern Penn. Trac. Co. (seo below).
ditions and extensions at not exceeding 8 5 % of cost. Bonds aro subject to
O R G A N I Z A T I O N . — Incorporated March 1898. Has acquired a l
l
call on any int. day at 105 and lnt. Sinking fund of 1 % of outstanding the stock of tho Wilmington City Ry. ($519,930), the Gordon Heights
bonds, payable Feb. 1 1919 to 1928; 1>£% thereafter.— V. 94, p. 983.
Ry. ($51,500), the Front & Union Street Ry. ($299,930) and the Chester
Traction Co. ($500,000), a l of which are deposited under tho collateral
l
(a) Roanoke Railway & Electric Co..—
trust mortgages of tho Wilmington Sc Chester Traction Co. Owns $50,000
O R G A N I Z A T I O N . — Tho Roanoke Street Ry. and tho Roanoke Electric stock of the Chester & Delaware Street Ry.; also owns $150,000 debenture
Light Sc Power woro both sold at foreclosure Aug. 1 1899. Tho present bonds of Front Sc Union St. Ry. and $45,000 1st M. bonds of Gordon nelgs
l
company was incorporated In Virginia. F r a n c h is e s expire In 1935 and some Railway. The Chester Traction Company holds a l tho stock of the
perpetual. Docs a l lighting and railway business in and about Roanoke, Union Railway Company, $100,000; Chester & Media stock, $35,000; Ches
l
Salem and Vinton. Owns 250 shares of Roanoke Trac. Sc Light Co. stock. ter Darby Sc Phila. stock, $65,000; total, $200,000. The Chester Trac. pays
as rental (besides Int. on bonds) 6 % on the $100,000 stock of tho Chester Sc
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
STOCK A N D BONDS—
Media and on the $100,000 stock or tho Chester Darby & Philadelphia.
J-D
$500,000
Seo text
Stock, $500,000 ($100)..... . ___
ST
S—
In terest.
O u ts ta n d in g .
M a tu r ity .
5 g J-D
58,000 Dec. 1 1940 StockO C K A N D B O N D u l pd- D a te . on Phila. Ex $2,000,000 Dec'12,60ct
First mortgage, $300,000, g 1899
$2,000,000
Listed
($1 ,
000) sinking fund-.ntf Int. at Mercantile Tr. Sc Dop. Co., Balt., Tr. Coll trust gold ($50) f l
1898
6
2,305,000 April 1 1923
5 g F-A
627.000 Feb. I 1953 ($500 and $1,000 $4,000,000/ Providentg A-O Trust Co., Phila., Trustee
First consolidated mortgago, 1903
each) c*t\
$750,000 ($1,000) gsf_c*tf Int. at Real Estate Trust Co., Phila., Trustee Collateral trust gold $5,-/1912 5 % Life &
551.000 April 1 1951
B o n d s . — Sufficient consol, bonds are resorved to reti o 1st mtge. bonds.
r
500,000
tflWilmington Trust Co., Wilmington, Trustee.
S in k in g f u n d on Feb. 1 1910 annually to Fob. 1 1920 1 % of outstanding
S e c u r itie s o f S u b s id ia r y L in e s —
bonds and thereafter 1 H % .
Wilm City 1st M $600,000/ 1911
5 M-S
600,000 Sopt 1 1951
($1.000)________ c*.ntf\Int. at Eq. Guar. Sc Tr. Co., Wilm., trustee
D i v i d e n d s — In 1904. 3 ^ % : In 1905, 5 M % : In 1906. 8 %: in 1907, 6 % .
5 g M-N
250,000 M a y 1 1944
none to 1910, when 3 % was paid; In 1911, 5 3-5%; In 1912, 6.7%; in 1913, Chester Traction 1st mtge/ 1894
gold
$250,000_____c*tf(Int. at Guar. Tr. Sc Safe Dep. Co., Phila.
6.12%; in 1914, 12.02%: in 1915, 7.4%; in 1916, 5%.
Wllming Sc Edgemoor 1st M l 1906
5 g J-D
400,000 Juno 1 1946
E A R N I N G S . — For year end. Dec. 31 1916 (Including both electric and
$400,000 ($1,000) g-.c* tfllnt. at Real Estate Title Ins. &Tr.. Phila.,Tr
railway departments), gross, $688,978; net, after taxes, lnt., &c., $44,012.
L e a s e d to C h ester T r a c tio n —
R O A D . — Operate* In Roanoke; also extensions to Salem and Vinton,
Union Ry Co 1st mtge g.c.tf 1913
5 g J-J
200.000 Jan l 1943
Va.; total, 29.85 miles of track. About 41 passenger cars, 4 othor cars. Chester St Ry stock ($50) --tf___ 10 J-J
150.000 rental 10%
50, 60 and 72-lb. r i . Also owns park and theatre.— V. 90.,p. 168.
al
Chester & Media El Ry gold tf 1913
5 g J-J
100.000 July 1 1943
Chester Darby & Phila, gold tf 1913
5 g J-J
125.000 July 1 1943
(11) Ohio Valley Electric Railway Co.— A trolley road.
Tho Wilmington Sc Edgemoor bonds are guar, as to both principal and
In 1911 acquired by the American Railways.— V. 92, p. 1437; V. 93,p.470. Interest by the Wilmington City Ry.
I n te r e s t on Union Ry., Chester Street Ry., Ohostor Sc Media payable
O R G A N I Z A T I O N . — Incorporated in West Virginia In 1899. F r a n c h is e s
run until 1957 in W . Va.; in Ky. and Ohio In Dec. 1916 ran for nearly th* at Delaware County Trust Co., Chester, Pa., on Chester Darby & Phila.
Tull term allowed by statute, 20 and 25 years, respectively. In Feb Ry. Co., payable at Continental-Equitable Title Sc Trust Co., and Interest
l
ruary 1908 name was changed from Camden Inter-State Railway to th« upon a l the latter guaranteed by Chester Traction Co.
Ohio Valloy Electric Railway. Owned entire stocks of Consolidated
B o n d s . — $1,695,000 c l . t . 5s of 1898 reserved to retlro underlying securi
ol r
Light, Heat & Power Co., Ashland Elec. Lt. & Pow. Co. (now Boyd ties and guar, stock. They matured originally in April 1918 and boro int.
County Electric Co.) and Ironton Elec. Co., but at tlrno of acquisition at 5%, but were oxtendeu for 5 years at 6 %. Red. at 101 and l t on any
n.
by Araer. Rys. theso were turned over to latter company. On M a y 1 1908 in . date. Are listed on the Phila. Stock Exch. V. 106, p. 1902, 2012.
t
acquired the $500,000 stock of Kanawha Valloy Traction Co., which h*» Of tho coll. t . of 1912, $4,000,000 aro reserved for like amt. of c l . t . of
r
ol r
been leased to the Charleston (W. Va.) Intorurban RR. (see page 25) for 1898. Wilm. City bonds aro subj. to call at 105 and int. V. 93, p. 667.
Tho Chester Trac. bonds were extended In 1914 for 30 years. V. 98, d .
99 years at a rental beginning with $’0,000 per annum In 1910 and Increasing
to $20,000 in 1916 and thereafter until tho expiration of tho lease. Also 1073, 1158.— V. 98, p. 1074; V. 106, p. 1902, 2012.
owns entire stocks of tho Ashland & Catlettsburg St. Ry. and Ashland In
(2) Wilmington City Electric Co.
terurban Ry.
L e a s e . — Was leased on July l 1910 for 990 yrs. to tho Wilm. Sc Phila,
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Trac. Co., the latter assuming a l Int. & fixed charges of Wilm. City Elec.Co.
l
C o m m o n $2,000,000 ($100).............. $2,000,000
See text
O R G A N I Z A T I O N . — Incorp. in Delaware in 1895. F r a n c h is e perpetual.
Pref 6 % cum $-100,000 ($100)---J-J
345,800
See text
1st M $2,200,000 gold guar] 1916
5 g J-D
1,675,000 Dec 1 1946 Does an electric light and power business in Wilmington.
($1,000)__________ c*tf\Penn. Co. for Ins. on L. & G. A., Phil..trust.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$255,000 ........
B o n d s . — The outstanding bonds wore Issued to take up $1,350,000 C a m Stock..................................
5 M-N
1,000,000 M a y 1 1951
den Inter-State Ry. 5s due Mar. 1 1921; $175,000 Hunt. Sc Charleston 5a First mtge $1,000,000 gold/ 1911
($1,000) guar p Sc I .._ c * tfllnt. at U. S. Mtge.&Tr. Co.,N. Y., Trustee
due 1936: $100,000 Cons. Lt. Sc Rys. 6s duo 1922, and $50,000 Ashland 9c
Catlettsburg 6s duo 1919. Remaining $525,000 aro for exts. and better
B on d s aro redeemable on and after M a y 1 1921. Guar., p. & I., by WI1. Sc
ments under restrictions. Red. after Dec. i 1921 at 1 0 2 and Int. Penn. Phila. Trac. V. 92, p. 1441.— V. 94, p. 567.
Stato tax refunded. Guar., p. & 1 , by end. by Am. Rys. Co. V. 103, p.
.
(3) Southern Pennsylvania Traction Co.
2342.
O R G A N I Z A T I O N . — Incorporated In Penn, in Juno 1910 with $10,000
D iv i d e n d s . — Semi-annual dlvs. (J-J.) of 3 % were paid on pref. from
stock, a l owned by Wilm. & Phila. Trac. Co. Leases for 990 years from
l
1908 to 1917, incl. On common, 1910, 3 % ; 1911, 2 % ; 1912, 6% ;In 1913
July 1 1910 Chester Trac. Co., Delaware County & Phila. Elec. Ry. and
3.9% :in 1914. 2.9% ;in 1915, 4 % ;in 1916, 6% .
Media Glen Riddle Sc Itockd. E. St. Ry. Co. at a minimum annual rental
E A R N I N G S . — For year ending Dec. 31 1916. gross, $661,938; net of $71,990 to a maximum of $106,990 in 15 years. V. 98, p. 1073, 1158.
after taxes, lnt., &c., $175,656.
(a) Delaware County & Philadelphia Electric Ry.
R O A D . — Operates 46.3 miles of track In and between nuntlngton and
L e a s e . — On July 1 1910 leased for 990 years to Southern Ponnsylvanll
Kenova, W . Va., Catlettsburg and Ashland, Ky., and Ironton, Ohio.
Traction Co. at a rontal of $40,000 per annum.
Operates 56 pass, cars, 17 other cars.— V. 104, p. 257; V. 106, p. 1231.
O R G A N I Z A T I O N . — Incorporated M a y 11 1892. Completed from
Media, Pa., to Baltimore Av., Clifton H t , In Jan. 1895; connects with
s
(12) Electric Co. of N e w Jersey.
tho Union Trac. systom. In M a y the
O R G A N I Z A T I O N . — A merger July 5 1916 of a number of electric light the Chestnut && Walnut Street cars ofacquired tho road, paying $166.66 per
United Power
Transportation Co.
eos. In Gloucester, Salem and Cumberland counties, N. J., along the Dela
t
ware River opposite Wilmington, Del., and Chester, Pa. Supplies electric share for the stock In I s 4 % trust certificates socurod by a doposlt of stock.
•urrent for electric light and power in municipalities of Salem, Penmgrovo,
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Woodstown, Mulllca Hill, Pitman, Glassboro, Wllltamstown, PauTsboro Stock $500,000 authorized--.............. .
.
$300,000
Soe toxt
eiomonton. Laurel Springs, Berlin, Elmer, Clayton, Quinton, Swedcsboro. First mortgago $64,000--ntf/ 1913
5 J-J
64,000 July 1 1943
Podricktowu, Ponnsvllle, Harrisonville, Mickleton, Clarkesboro, Welint, at Cont.-Eqult. Title Sc Tr. Co., Phila.
nonah, Bridgoton, Port Norris and many othor smaller places. The Ameri
1st M . bonds matured July 1 1913, but were extended for 30 years at 5%.
can Rys. Co. owns the entire outstanding stock and bonds.
D I V I D E N D S . — Paid in dividends In 1899-1900. $30,000; in 1900-01,
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
$27,000; 1901 to 1908 in l , $21,000 per ann.; In 1909 and 1910, none; In
c.
1911, $21,000; in 1912. July. $15,000; none sinco.
Stock $475,000.................... -.....
$157,500 ---- ---First mtge $5,000,000 gold! 1917
5 g M-S
319.000 Mar 1 1947
R O A D . — Owns 12 miles of track. Ralls, 80-lb. T aud glrdor.
($1.000)________ c*&rtfj Int. at Cornm'l Trust Co., Phila., trustee.
B o n d s . — $250,000 are reserved to retire bonds of Bridgeton Eloe. Co.,
remainder for exts., add'ns, &c.. Red. after 1922 at 102H-— V. 103, p.
FAIRMOUNT PARK TRANSPORTATION.
937; V. 104. p. 1390. 1493.
S a le a n d R e o r g a n iz a t io n . Tho following plan was formulated and de
—
clared operative in Feb. 1915 as a majority of tho stock was deposited In
assent, and at the sale on June 22 1915 the property was purchased by tho
WILMINQTON & PHILADELPHIA TRACTION CO.
On Jan. 1 1916 control was acquired by tho American Rys. Co., control reorganization committee for $58,000, subjoct to tho 1st mtgo. of $750,000.
of which was In turn taken over by tho National Properties Co. See those Salo was confirmed on Dec. 13 1917 by Judgo Thompson in tho U. S. Dist.
Court at Philadelphia.
companies above.
A now company i to bo organized with $100,000 7 % cum. (from Jan. 1
s
O R G A N I Z A T I O N . — Incorp. In Dela. June 27 1910. Owns a l stock of 1916) pref. stock (par $10) and $400,000 common stock (par $10). Tho
l
Southern Penn. Trac. Co., Chester & Eddystono St. Ry. and Wilm. Lt. Sc prosont first mtgo. 5s. duo 1937, aro to be undisturbed. Cash require
Pow. Co. On June 1 1915 acquired control of People's Ry. of Wilmington, ments, about $70,000, aro to bo mot by a subscription of $3 50 por share
Del. (stock. $1,500,000), and In Oct. 1915 purchased the Wilmington for each sharo deposited. (Subscriptions largely oxceodod tho amount
Southern Trac. Co. and tho Wilm. N e w Castle Sc Delaware City Ry., and anticipated and payments were reduced to $3 per sharo). Subscribers will
consolidated thorn under the name of the latter. (Stock. $600,000). receive for each $ 10 so paid one share ($10) of now pref. and flvo sharos
Leases for 990 year* from July 1 1910 tho Wilm. City Ry., Wilm. Sc Edge- ($50) of new common stock. Tho new stock may bo transferred to voting
moor Elec. Ry.. Gordon Heights Ry., Front Sc Union St. Ry. and Wilm. trustees (in exchange for voting trust certificates) for not over 5 years,
City Elec, and N e w Castle County Elec. Co. at a minimum annual rontal trustee* to have power to s l a l but not a part thereof at not loss than par.
el l
of $79,010. to a maximum of $120,610 in 15 years.
April 1 1916 and subsequent interest on bonds paid at oho rato of 4 %
por ann. In Sept; 1916 tho Fairmount Park Transit Co. was Incorporated
I n t e r e s t . O u ts ta n d in g .
M a tu r ity .
STOCK A N D BONDS—
D a te .
in Dola. as successor company, but in M a y 1918 tho old company was s i l
tl
........ $4,060,000 .........
C o m m o n stock___________ ____
in hands of receiver.
..............
500,000 .........
Preferred stock----------- ---O R G A N I Z A T I O N . — A N o w Jorsoy corporation formed In 1894. Char
5 g J-D
1.650.000 Juno 1 1965
People’ Ry 1st M $3,000,000 1915
s
old ($1 ,
000) guar----- c* Int. at Fidelity Trust Co., Phila., Trustee ter porpotual; license from Park Commission runs until July 24 1939 and ros
163,000 Oct 11965 nowabfo (unloss 1 year's notice I glvon) for 10-yoar periods. Park Commis
m. So. Trac. 1st M gold 1915 5 g A-0
t
$300,000 ($1,000) guar--- Int. at Wilmington (Del.) Trust Co., trustee sion may, at expiration of llconso, purchase property at I s cash cost, or at
t
1915 5 ^ J-J
None
_ Jan 1 1966 end of 35 years from opening of road at i s then valuo plus 50%, or at cost
W N C & D O 1st M $2,000
000 g ($1,000) guar._c*tf lint, at Fairm. Sav. Tr. Co., Phila., trustee plus additions and Improvements. Owns an oloctric railway In Fairmount
s
Chester & Eddystono 1st M l 1916
5 g M-S
53,000 Sept 1 1946 Park. From Nov. 30 to M a y 1 operation i optional. Owns Woodsldo
Park, opened Nov. 1898.
gold $100,000 ($1,000) gutlnt. at Phifa. Trust Co., Phila.,"trustee.
BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
B o n d s . All four issues are guar. p. & i by the Wilm. Sc Phila. Trac. Co.
—
.
5 A-O
$750,000 April 1 1937
Remaining People's Ry. and Wilm. 8o. Trac. bonds reservod for Impts. at First mortgago $750,000 gold/ 1912
($1,000) ________ c*ntf\Glrard Trust Co., Philadelphia, Trustoo.
85% of cost. People's Ry. bonds are red. on any Int. date at 105. $300,
B o n d s . — 1st mtgo. bonds aro callablo at 105 and Int. ou any Int. day on
000 Wilm. N. O. Sc O. D. bonds aro reserved for the Wilm. So. Trac. oonds;
remainder may be Issued for exts. and lmpts. at 8 5 % of coat. Red. at 102 60 days’ notice. Cum. sinking fund, $13,000 por annum, beginning Oct
1918, bonds to draw Interest for tho fund. V. 95, p. 480.
on any lnt. day.
S
MAY, 1918. J
R O A D .— 0 .8 2 m iles o f tra ck in W o s t P a rk a n d E a s t P a rk : crosses S c h u y l
k ill R iv er on a steel b rid g e . R a ils are 90 lb s .
10 c lo s e d . 50 o p e n c a r s .
Ya
er
Os.
rs
o
Nt.
e
Ca e, &.
hrgs c
Dfic
e it.
R E P O R T .— F o r ca l. y e a r 1917 an d ye a rs e n d . O c t. 31:
—
1 91 7 ...........
$ 10 7,516
$29,191
$ 4 7 ,3 7 8
$ 18 ,18 7
1 9 1 0 -1 7 _________ 107,790
2 8 ,1 2 9
4 6 ,7 4 2
18,613
121,469
4 7 ,9 7 5
4 8 .7 5 9
784
1 9 1 5 -1 6 ...........
— V . 1 00, p . 6 4 2 , 7 3 3 , 1 6 7 2 ,1 8 3 2 ,2 1 6 6 ; V . 101. p . 118 8 : V . 1 0 5 . p . 2 4 5 5 .
PHILADELPHIA & WEST CHESTER TRACTION CO.
frac iss
nh e
O R G A N I Z A T I O N .— C h a rte re d in P e n n sy lv a n ia o n A p ril 24 189 5 . M u
n icip al
are p e r p e tu a l. In 1898 a cq u ire d co n tr o l o f th e P h ila . A
W est C h ester T u r n p ik e R o a d C o ., w h ic h in turn c o n tr o lle d th e D e la w a re
C o u n t y P assenger R R . A ls o c o n tr o ls th o P h ila . C a s tle R o c k & W e s t C h e s
ter P assenger R y . C o . I n J a n . 1902 leased th o A r d m o r e & L la n e rch S t.
I t y .. a lino b etw een th e p o in ts n a m e d , 3 1-4 m iles: it has n o b o n d s o r oth er
d e b t.
R en tal is 5 % o n th e o u ts ta n d in g s to c k ($ 4 0 0 ,0 0 0 a u t h ., $ 3 8 3 ,3 5 0
ou ts ta n d in g ) an d p a y m e n t o f taxes an d o rg a n iza tio n es p o u se s . L eases
th o P h ila d elp h ia & G a rr e ttfo rd S t. R y . (w h ic h it a lso c o n tr o ls ) a t 5 % on
fu n d e d d e b t a n d $ 500 p er an n u m fo r salaries a n d o r g a n iza tio n e xp e n se s.
In J an . 1912 increased a u th o rize d s to c k fro m $ 1 ,0 0 0 ,0 0 0 t o $ 1 ,4 0 0 ,0 0 0 .
Dte In rs Ots nin.Ls d ..A
a . teet. u tad g at iv c
STO CK A N D BONDS—
S to c k $ 1 ,4 0 0 ,0 0 0 (p a r $ 5 0 )..................
A -O
$ 1,1 48 ,9 0 0 A p r '1 8 .3 %
5 g J-J
4 00 ,00 0 O c t
1 1918
1st M $ 40 0 ,0 0 0 g old s u b je c t I 1898
t o call at 105 ($ 1 ,0 0 0 )- . c t f l I n t . a t G ira rd T r u s t C o .. P h ila .. T r u s t e e .
1904
4 g J-J
5 34 ,00 0 J an
11954
M t g o bon d s $ 1 ,0 0 0 ,0 0 0 gold
( $ 1 , 0 0 0 ) ...........- ..............c * t f In t . a t W e st Etid T r . C o ., P h ila ., T ru s te e .
1905
5 g F -A
1.0(15,000 A u g 1 1955
P h ila & G a r 1st M $ 3 ,0 00 ,0 0 0
g old ($ 1 ,0 0 0 ).................... c t f I n t . at W e s t E n d T ru st C o ., P h ila .. T r u s te e .
— $ 46 6 ,0 0 0 o f th o 4s o f 1904 are reserved t o r e t ir e $ 4 0 0 ,0 0 0 I s t M
b o n d s. B o n d s o f eith er Issue can be ca lle d a t a n y tim e at 105 a n d in t .: no
s in k . fd . T h o rem ain in g P h ila . & G a r. b o n d s are re se rv e d fo r fu t u r e re
q u irem en ts; r o d . a t 105 & in t. o n a n y in t. d a y .
Bns
ad.
R E P O R T .— Y e a r en d in g D e c . 31:
31.
—
$269.99S
$26,341
$18 8 ,5 5 2
$ 10 7 ,7 8 7
1 9 1 7 .................... $ 58 2,070
1 9 1 6 .................... 5 41 ,32 6
248 .96 7
27.1 09
180,674
9 5 ,4 0 2
R O A D .— O p erates 5 0 .5 6 m iles o f tra ck fro m 63d a n d M a r k e t streets.
P h ila d elp h ia , to W est C h es te r, o f w h ic h 2 4 .4 5 m iles Is leased . A n exten sion
from D roxol Hill to M e d ia , 6.51 m iles, w as p laced in o p e ra tio n in A p r il 1913.
G auge. 5 ft .
in .; 5 8 . 6 0 . 70 a n d 8 0 -lb . T ra il. 43 ca rs .
Dce r
e.a
Y
te
Co g
s
r Ylu
Erns s ENt g. Intm Rn r,t,c fou e r.
arin . ae s Oee e tae A. S rpas
rn
in
chr . In lss
o
O F F I C E R S .— P r e s ., A . M e r r itt T a y lo r , P h ila .; V . - P ., H . H . A ik e n s;
T r o a s ., C . L . R ih l. O ffic o . U p p e r D a r b y , D e l. C o .. P a . V . 9 4 , p . 352;
V . 98, p . 237: V . 106, p . 3 97.
P H I L A D E L P H I A R A P I D T R A N S I T .— C o n t r o lle d b y
th e S to te s b u ry
I n co r p o ra te d in P en n sy lv a n ia o n M a y 1 1902 t o ta k e o v e r u n d or lease the
U n ion T r a c t io n C o . fo r 9 99 yea rs fr o m J u ly 1 1902, a n d t o a cq u ire a n d h old
shares o f o th e r co r p o r a tio n s .
(F o r term s o f lease, see U n ion T r a c t io n b e
lo w .)
T h o R a p id T ra n s it C o . a cq u ire d n u m e ro u s fra n ch ises fo r new roads
o b ta in e d b y th e M a ck -F o o r d e r e r s y n d ic a te in 1901. In J u n e 1903 th e M a r
k e t 8 t . E le v . Pass. I t y ., w ith $ 5 ,6 0 0 ,0 0 0 a u th o riz e d ca p ita l s t o c k , waa
fo r m e d t o a b s o rb a n u m b er o f these fra n c h ise s .
V . 7 6 , p . 1301. In June
1903 th e R a p id T ra n s it C o . o b ta in e d fro m th e P h lla d e lp ld a C it y C o u n c ils
o th e r v a lu a b le franchises fo r n ow lin es. In A p ril 1906, h o w e v e r, an a gree
m en t w as en terod In to w ith th e c it y relin q u ish in g n early ail th e rights t o the
franchises o f 1901 an d 1903 an d th e w h o le m a tte r o f th o c o m p a n y 's fran
ch ise rights w as rea d ju sted o n a now b asis. See V . 8 2 . p . 693, 8 70 .
S u b w a y has been b u ilt In M a r k e t S t. fro m 23d S t. t o D e la w a re A v e ..
eleva ted str u ctu re o n M a r k e t S t. w est o f th e S ch u y lk ill R iv e r , a n d o a D e la
w are A v e . fr o m M a r k e t S t. t o S o u th S t. V . 74, p . 5 2 8 , 989; V . 7 6 . p . 1301;
V . 8 1 , p . 2 65 . In M a r c h 1907 b ega n o p e ra tin g o n th a t p o rtio n o f th o ele
v a te d fro m th o S ch u y lk ill R iv e r w est t o th o U p p e r D a r b y torm in al s ta tio n ,
a d ista n ce o f a b o u t 4 m iles.
V . 8 4 . p . 5 71 . O n A u g . 3 1908 th o entire
s u b w a y from 2 d S t. t o 2 3rd a n d M a r k e t S t. w as p la c e d in o p e r a tio n , thus
co m p le tin g lin o th rou gh t o 6 9th S t. V . 8 7 , p . 3 47 . O n O c t. 6 1908 ele
v a te d lino on D ola w a ro A v e . t o S o u th S t. S ta tio n w as p la c e d in o p e r a tio n ,
c o m p le tin g en tire lin e . V . 8 7 , p . 9 36 .
In J u ly 1902 a cq u ired all th e s to c k o f th e D o y le s to w n & W illo w G r o v e
R y . C o . A ls o ow n s en tire s to c k ($ 10 ,00 0 ) o f th e R eal E sta te H o ld in g C o .,
w h ich ow n s p r o p e r ty o f an assessed v a lu e o f $ 1 ,6 7 5 ,3 2 0 .
O n J u ly 1 1906 tho P h ila . M o r to n & S w a rth m o ro R y . an d th o M e d ia M id
d letow n A sto n & C h oster E le c . R y . w ere c o n s o lid a t e d , fo rm in g th o D a r b y
M e d ia & C h ester R y . T h e n ow c o m p a n y , e m b r a c in g 25 m iles o f t r a c k , w as
th ereu pon leased to th o P h ila . R a p id T ra n s it C o . fo r 999 ye a rs , ren tal b oln g
$8,5 00 fo r firs t y e a r, $17 ,00 0 fo r s e co n d and th ird y e a rs , $25 ,50 0 fo r fo u r th
y e a r . $ 3 4 ,00 0 for fift h y ea r an d $ 42 ,5 0 0 fo r sixth y e a r a n d th e re a fter.
.— In 1911 a p lan w as a d o p te d lo o k in g to a la stin g p e a ce
b etw een the c o m p a n y au d m e n , 2 2 % o f gross passenger earnings t o b o set
a part fo r w ages a n d w a ge s ca le t o b o Increased as ra p id ly as p o ssib le w ith in
th a t lim it. See plan In V . 9 3 . p . 5 90; also V . 9 7 . p . 238.
.— O n F e b . 18 1907 th o b o a r d o f d ir e c t tors a cce p te d th e p lan s u b m itte d J a n . 1907 b y th e R eta il M e r c h a n ts ' A s s o
cia tio n o f P h ila d elp h ia fo r a re a d ju stm e n t o f th o relation s b etw een th e c it y
an d c o m p a n y . T h e plan con fers u p o n th e c it y the rig h t t o pu rch a se a t any
tim e a fter J u n e 30 1957 all leases, franchises a n d p ro p e r ty o f th o c o m p a n y
at th e c o m p a n y 's a ctu a lly p a id -in c a p ita l. $ 3 0 ,0 0 0 ,0 0 0 .
T h o c it y has
th e rig h t t o assign o r sell this o p t io n .
F u r th e rm o re , a lin k in g fu n d Is t o be
es ta b lish ed , t o b o tak en o u t o f th e gross recoln ts o f th e c o m p a n y ,w h ic h ,
ca lcu la ted at 4 % . w ill a m o u n t t o a t least $ 3 0 ,0 0 0 ,0 0 0 a t th e e x p ira tio n o f
60 yea rs, t o on a b le th e c it y t o a cq u lro th o p r o p e r ty at th a t tim e . A n o th o r
fea tu re in th e arra n g em en t la t h a t, b egin n in g w ith J a n . 1 1907. th e c ity
shares e q u a lly In th o n et p r o fits a fter s to c k h o ld e r* h a v e re c e iv e d law ful
Interest on th o ca p ita l Invented b y th e m . A ll franchises fo r fu rth er s u rfa ce ,
eleva ted o r u n d ergrou n d railroads w ith in th e c it y are t o b e first o ffe re d th e
P h ila . R a p id T ra n s it C o . un der term s o f this c o n tr a c t. T h e c i t y l a alao to
h a v e th ree m em b ers on th e b o a r d o r d ir e c t o r s . T h e p resen t r a t e o f fa r e ls
n o t to b e ch a n ged e x c e p t w ith th e c o n se n t o f b o th parties. A s p a rt o f th e
a rra n g em en t, th e R a p id T ra n s it C o .-a gre e d to ca ll th o $ 1 2 ,0 0 0 ,0 0 0 th en still
d u e on Its s to c k a t the ra te o f $ 3 ,0 00 ,0 0 0 e v e r y six m o n th s , th * m o n e y t o b e
used to g iv e increased an d Im proved s e rv ice . F o r fu rth e r d e ta ils o f p la n '
see V . 8 4 . p . 4 51 ,15 5 2 . A n ord in a n c e e m b o d y in g th e a b o v e fea tu res w as
passed b y th e P h ila . C it y C o u n c il o n J u n e 20 1907 ( V . 8 4 . p . 1488) an d r a t i
fie d b y th e c o m p a n y J u ly 18 1907. O n F o b . 27 1911 S ta te S u p re m e C o u r t
a ffirm ed th o d ecision ( V . 8 9 , p . 847) o f th e C o m m o n P leas C o u r t su sta in in g
th e c o m p a n y ’s d em urrer In a suit b ro u g h t t o test th e v a lid it y o f th o fo r o g oln g ord in a n c e .
V . 9 2 . P- 596. O n J u ly 29 1907 d ire cto rs c a lle d fo r p a y
m en t o f th e fin a l assessm ent o f $15 a share o n s t o c k , p a y a b le In t w o Install
m e n ts — $7 60 S o p t. 9 1907 an d $7 50 S e p t. 7 1908. V . 8 5 , p . 2 8 4 , 1402.
F o r n ow lease ord in a n ce seo b e lo w .
„
In O c t. 1908 sto c k h o ld e rs o f U n ion T r a c . C o . a n d th e Phila. T r a c . C o.
a p p r o v e d th o uso o f securities o w n e d b y thorn as s o cu rity fo r a n ow lo a n ,
and th o $ 5 ,0 0 0 ,0 0 0 c o ll, tru st m tg e . sh ow n b e lo w w as th e re u p o n a u th o r
iz e d . V . 8 6 . p . 1530; V . 8 7 , p . 740, 813. 1161.
O n Ju n o 2 0 1910 th e s to c k h o ld e rs v o t o d t o d is c o n tin u e th e Insur
a n ce fu n d v a lu e d a t o v e r $ 1 ,7 5 0 ,0 0 0 , a n d t o p le d g e o r sell th e s ecu rities In
said fu n d , a p p ly in g the proce e d s t o gen oral p u rp oses o f th o c o m p a n y ; also
to sell tho rollin g s to c k o f th o c o m p a n y t o th o U n ion T r a c . C o . fo r $ 1 ,5 0 0 ,
0 0 0 , tak in g lease o f s am e fo r 10 years a t ren tal o r $ 15 0 ,0 0 0 a y e a r a n d in t .,
w ith righ t t o re-p u rch a se eq u ip m e n t a t th e end o f 10 yea rs fo r $ 1 . T h is
loaso was m a d o b asis o f a $ 1 ,5 0 0 .0 0 0 Issue o f ca r trusts b y U n io n T r a c . C o .
V . 9 0 , p . 1426. 1555. 1677; V . 9 1 . p . 3 37 .
„
tj
m
O n F e b . 28 1911 sh areh old ers o f n o th th o P h ila . R a p . Trans. C o . a n d th e
U nion T r a c . C o . a p p r o v e d a p lan (V . 9 2 , p . 463) In a cco r d a n c e w ith t h o vlow s
o f M r . E . T . S to tc s b u r y , w h o c o n se n te d o n su ch co n d itio n s t o en ter th e
P h ila . R a p . T ra n s , b o a r d , ca llin g fo r th o Issue o f $ 1 0 ,0 0 0 ,0 0 0 s . f. b o n d s
running fo r lire o f c it y c o n tr a c t, g u a r . p . & 1. b y th e U n io n T r a c . C o . an d
s ecu red b y p lo d g o o f e q u ity In M a r k e t S t. E le v . P ass. R y . (V . 9 1 , p . 1029)
o v e r an d a b o v e p resen t $ 1 0 ,0 0 0 ,0 0 0 m tg e . o n said p r o p e r t y . V . 9 2 , p . 5 96.
O n F e b . 29 1912 d ire cto rs o f b o th t h e P h ila . R a p . T ra n s , a n d U n ion T r a c .
C o . a u th oriz ed th o m tg o . V . 9 4 . p . 631. A s p a rt o f th e p la n , e v e r y
eq u ity bw notl b y P h ila . R a p id T r a n s . C o . Is surren dered to U n io n T r a c .
C o . See V . 9 1 , p . 1101. 1386, 1574, 1630, 1711. T h o C it y C o u n c il
assented t o th o a rra n gem en t in M a y 1911. V . 9 2 , p . 1375. 1500.
WeShdle
a c eu s
g
Ajutm to Rla n W dig
d s e f e tios ith
n
by
CSpnya dE vte L e t B Bilt b t eC adOea db t e
ouaa n lea d ins o e u y h itu n pr te y h
mw
.— A t an election h eld A p ril 29 1915 th e ele cto rs v o t o d In ta v o r
o f a $ 6 ,0 0 0 ,0 0 0 loa n fo r a B r o a d S treet s u b w a y an d a F ra n k fo r d e le v a te d
95
E L E C T R IC R A IL W A Y S
lin e (V . 100, p . 1511), an d o n J u ly 1 1915 th e ord in a n c e s m a k in g e q u a l
a p p ro p ria tio n s fo r b o th p r o je c ts w ere sign ed b y M a y o r B la n k e n b u rg .
C o n s tru ctio n w as b e g u n S e pte m b e r 11 1915. V . 101, p . 132, 7 7 4 , 1371.
A t tho ele ctio n o n M a y 16 1916 it w a s v o t e d t o issue $ 5 7 ,1 0 0 ,0 0 0 b o n d s
fo r a d d itio n a l s u b w a y a n d e le v a te d lin es, In a c co r d a n c e w ith th e p ro
gra m o f fo rm e r C it y D ire c to r o f T r a n s it A . M e r r itt T a y lo r , as ou tlin ed
in V . 102, p . 234 2 . T h e S tern b ill, re n d e rin g v a lid th e e le ctio n o f M a y 16
1916, w as passed b y th e P e n n . H o u s e o f R e p re se n ta tiv e s in A p ril 1917.
V . 104, p . 1703. O n J u ly 7 1917 th e ta x p a y e r ’s s u it t o restrain th e c it y
fr o m p ro ce e d in g w ith c o n s tr u c tio n o f th e n ew h ig h s peed lines w as dism issed
b y C o m m o n P leas C o u r t N o . 4 . O n J u ly 23 1917 th e P e n n sy lv a n ia P . S.
C o m m , gra n te d th e P h ila d e lp h ia c i t y au th o ritie s p erm ission t o c o n s tr u c t
all o f th e lines c o n te m p la te d in said p r o g r a m . O n J u ly 25 1917 C it y D ir e c
to r o f T ra n s it T w in in g let s ix c o n tr a c ts . In v o lv in g an ex p e n d itu r e o f a p p ro x i
m a te ly $ 1 5 ,0 0 0 ,0 0 0 fo r th e co n s tr u c tio n o f th e m a in lines o f th e n ew s y s te m .
T h e co n tr a c ts w ere let u p o n b id s s u b m itte d b y th e c o n tr a c to r s six m o n th s
p r e v io u s . F u rth e r co n tr a c ts w ere s u b se q u e n tly a w a rd e d , a lso o n b id s
m a d e e a rly in 1917. V . 105, p . 3 89 , 9 9 8 . 1209. [T h e c o s t o f th e a m p lified
s y s te m , based o n stru ctu ra l steel a n d la b o r co s ts cu rre n t in th e e a rly p a rt
o f 1917, is estim ate d at a p p ro x im a te ly $ 10 0 ,0 0 0 ,0 00 .]
— O n J an . 3 1918 M a y o r S m ith sig n e d th e o rd in a n c e p r o
vid in g fo r th e lease o f th e p r o je c t e d c it y -b u ilt h ig h -sp e e d lines t o th e c o m
p a n y fo r o p e ra tio n in c o n ju n c t io n w ith its o w n lines as o n e s y s te m . T h e
sto c k h o ld e rs o n F e b . 8 1918 a p p r o v e d th e lease a n d o n F e b . 18 it w as s ig n ed
b y th e M a y o r an d th e P res, o f th e c o .
I t m u st n o w g o b e fo re th e P . S.
C om m issio n fo r fin a l s a n ctio n . T h e m o d ifie d lease p ro v id e s in th e m ain
as fo llo w s :
•
(а) T h e c o m p a n y t o p a y as ren ta l fo r th e use o f th e c i t y ’s linos an a m o u n t
e qu al t o th e in t . a n d sin k in g fu n d ch arge s o n th e b o n d s issued b y th e c it y
to co n s tru c t th e lines.
(б) T h e fo llo w in g p a y m e n ts are t o b o m a d e in th e o rd e r n a m ed fr o m th e
to ta l re v e n u o o f th e U nited s y s te m : (1) A ll expenses o f o p e ra tio n an d m a in
ten a n ce; (2) taxes o f all k in ds; (3) fix e d ch arges an d ren tals o f th e c o .; (4)
Int. an d s in k , fu n d p a y m e n ts o n secu rities o f th e c o . issued t o p r o v id e fo r
exte n sio n s t o its o w n lines a n d e q u ip m e n t fo r th e c i t y ’s lin es; (5) p a y m e ts
*to re s e rv e , d e p r e c ia tio n a n d c o n tin g e n c y fu n d s n e c e ss a r y fo r th e u n ifie d
s y s te m (6) p a y m e n ts d u e th e c it y u n d e r th e 1907 c o n tr a c t; (7) p a y m e n ts
t o th o c it y an d th e c o . in p r o p o r tio n t o th e re la tiv e In vestm en t o f e a ch ,
equal t o a retu rn o f 5 % p . a . o n s u ch In v e stm e n t. T h e c o m p a n y ’s in v e st
m e n t is fix e d at th e a m o u n t o f its s t o c k n o w a u th . a n d Issued, $ 30 ,0 0 0 ,0 0 0 .
T h is insures c u m u la tiv e d iv s . a t the r a te o f 5 % p . a . o n th e c o . ’s s to c k .
D u rin g th e life o f th e c o n tr a c t this r a te is n o t t o b e e x c e o d cd o n p resen t
issue o f s to c k .
(8) P a y m e n ts t o th o c it y equal t o th e d iffe re n ce betw een
th o p a y m e n ts t o th o c it y u n d er Ite m 7 a n d th e
a m o u n t o f th e Interest
a n d sin k in g fu n d ch arges u p o n th e c it y 's In v estm en t. A ll balances re
m ain in g a fte r th e p a y m e n t o f th e afo re said item s shall b o c r e d ite d t o
su rp lu s. Ite m s 1 t o 5 , in clu s iv e , shall b e cu m u la tiv e in th e o rd e r n a m e d .
D e fic its in Ite m s 6 , 7 an d 8 , h o w e v e r, shall n o t be m a d o u p un til all cu rre n t
p a y m e n ts in a n y y e a r shall h a v e been m a d o a n d th e c o m p a n y ’s initial sur
plu s (as a t d a te o f co n tr a c t) re s to re d . T h e r e a fte r a n y d e ficits in I t e m 7
shall b e m a d o u p b e fo r e d e ficits In Ite m s 6 o r 8 .
(c) A t th e b egin n in g th e fa re t o b e 5 ce n ts . W ith in 60 d a y s a fte r c o n
tr a c t be co m e s e ffe c t iv e , exch a n g e tic k e ts shall b e a b o lis h e d o u ts id e o f th e
s o -ca lle d " D e liv e r y D is t r ic t ," a n d un iversal fre e transfers shall b e s u b
stitu te d th e re fo r. O n th o op e n in g o f th o firs t o p e ra tin g s e ctio n o f th e
F ra n k fo r d line, th e exch a n g e tic k e ts in sid e th e d e liv e ry d istrict are t o b e
a bo lish e d a n d fre e transfers s u b stitu te d .
(d) 'W henever th ere Is a s h o rta ge o f cu rre n t n o t re v e n u o fo r th e p a y m e n ts
u n der (6 ), a n d th e n ew surplus shall h a v e been exh au sted a n d th e Initial
surplus d e p le te d t o th e e x te n t o f $ 5 0 0 ,0 0 0 , w ith in th ir ty d a y s th erea fter
th o S u p ervisin g B o a r d shall p re p a re a n d file w ith th e P . S , C o m m iss io n a
sch e d u le o f fares a n d ch arges w h ic h . In its o p in io n , w ill p r o d u c e g ross reven u e
s u fficie n t t o m e e t su ch p a y m e n ts , a n d m a k e u p w ith in a rea son a ble tim e
th e initial surplus a n d a n y d e fic it in p a y m e n ts o f th e va rio u s item s in fo rm er
yea rs.
•
S e rvice a n d o p e ra tio n o f th e u n ifie d sys te m t o b e co n tr o lle d b y a
b o a r d o f su p e rvisin g engineers, w ith th re e m e m b e rs , o n e a p p o in te d b y th e
c i t y , o n o b y th e c o m p a n y , an d th e th ird Jointly b y th e M a y o r a n d P re sid e n t
o f th e c o m p a n y , w h ich w ill a lso a rb itra te a n y q u e s tio n arisin g b e tw e e n th e
c i t y a n d th e c o m p a n y u n d e r th o c o n tr a c t.
( / ) T h e te rm o f th e lease w ill exp ire o n J u ly 1 1957. A s u n d er th e 1907
c o n tr a c t, th e c it y m a y , o n a n d a fte r J u ly 1 1957, p u rc h a se all o f th e c o m
p a n y ’s p r o p e r t y a t th e p a r v a lu e o f its ca p ita l s to c k o u ts ta n d in g . In a d d i
t io n , b e tw e e n J u ly 1 1927 a n d J u ly 1 1957 th e c it y m a y p u rc h a se th o p r o p
e r t y b y p a y in g a lik e a m o u n t, p lu s a n y s h o rta ge o f d iv s . o n th e s to c k n o w
o u ts ta n d in g b e lo w 5 % fo r e a ch y e a r fr o m th e d a te o f th e lease t o th e d a te
o f p u rc h a se . F o r fu r th e r d etails, see V . 105, p . 8 19 , 2 36 6 ; V . 106, p . 86.
— I n M a r c h 1 9 1 2 e n t e r e d I n t o a 1 0 - y e a r c o n t r a c t w it h t h e
P h ila . E l e c t r i c C o . f o r a d d i t i o n a l p o w e r . V . 9 4 , p . 70S.
— T h e v o t in g tru st e sta b lish e d in F o b . 1911 fo r 5 ye a rs w as
e xte n d e d In 1916 fo r a fu rth e r p e r io d o f 5 y e a rs t o F o b . 20 1921. T h e
trustees are A rth u r E . N e w b o ld , G e o . H . M c F a d d e n an d W illia m P . G e s t.
Y . 9 2 . p . 6 0 0 , 7 2 6 . 8 8 2 , 1243. 1500: V . 9 5 . p . 1608: V . 102,
5 2 3 , 1347.
LaeAp vd
es proe .
gos
rs
()
e
BwrCn at.
o e otr c
Vtin T s
o g rut.
p
.
N e w L i n e . —In Sept. 1911 the Snyder Ave. St. Ry. was chartered In the
Interest or the Phila. Rap. Tran., with $140,000 stock, to operate 7.66 miles
of line on Snyder Ave. Line was placed In operation Jan. 1912.
HgIs n Ete s n
o la d x nio.
— O n M a r .2 0 1 9 1 8 th e c o . en terod Into a c o n tr a c t w ith
th o E m e r g e n c y F le e t C o r p . fo r th e co n s tru c tio n an d o p e ra tio n o f an e x
ten sion fro m E a s tw lck A v o . t o th o H o g Isla n d S h ip ya rd , an d has u n d er
tak en t h a t it shall b o in o p e ra tio n b y J u ly 1 1918. T h o F leet C o rp o ra tio n
w ill a d v a n ce fu n d s t o th e c o m p a n y t o c o v e r the c o s t o f th e new c o n s tru c
tio n an d e q u ip m e n t [100 n ew ca rs], and a t th e clo s e o f th o w ar this p r o p e r ty
w ill b o tak en o v e r b y th o P . R . T . C o . a t th e app ra ised v a lu e fo r o p e r a tio n .
F ares t o b o ch arged w ill b e fix e d b y th e P . S. C o m m .
V . 106, p . 1345.
— O n A u g . 2 1915 J u d g e D ick in s o n In th e U . S . D ls t. C o u r t
held th a t th e c o m p a n y s subsidiaries o p e r a te d u n der lease w ere n o t ca r r y in g
on business w ithin th e m ean in g o f th e excise tax law o r 1909 an d th e re fo re
w ere n o t liab le t o th o ta x . O n O c t. 22 1917 th e M a r k e t S treet E le v a te d
P a ss . R y . , th e U n io n T r a c tio n CO, a n d th e P h ila d elp h ia T r a c t io n C o . ap
p e a le d t o th e U . S . D ls t, C o u r t fo r re s titu tio n o f $ 73 ,76 8 a n d interest c o l
le c te d fro m th em in th e years 1911 a n d 1912.
— In M a y 1918 a p p lio d t o th e C it y C o u n c il fo r a u th o r ity t o Increase
faros in P h ila . t o 6 ce n ts , so th a t th e c o . m a y a d v a n ce th e w ages o f ca rm en
5 ce n ts an h o u r. V . 106. p . 2011.
— A strik e o n th e c o m p a n y 's lin es w as b egu n o n M a y 16 1918, b u t
is re p o rte d t o h a v e h a d little e ffe c t o n th e tr a c tio n s itu a tio n In th a t c it y .
V . 106, p . 2123.
Ec eTx
xis a.
Fre.
as
S e
trik.
STOCK AND BONDS—
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
[6 0 0 .0 0 0 s h [
J an 1918,
J-J
\ F u ll p a id /
$ 1 .2 5
____
5 g F -A
$ 4 ,7 5 8 ,0 0 0 F e b 1 1957
C o ll tru st m tg e $ 5 .0 0 0 .0 0 0 f 1908
(5 1,0 00 ) g o l d . .............c * c p t ^ ’I n t . a t P e n n . C o . fo r In s . o n L ive s & G ran tin g
A n n u itie s, P h ila d e lp h ia . T ru ste e .
1912
5 g M -S
7 .7 8 5 .0 0 0 M a r 1 1962
S in k , fu n d m tg e . $ 1 0 ,0 0 0 ,0 0 0
g ($ 1 ,0 0 0 ) gu ar p & l _ c * c p t I n t . a t C o in m ’ l T r u s t C o ., P h ila ., T ru ste e .
1905
4 g M -N
10.0 00 ,0 0 0 M a y 1 1955
M a r k e t S t E l 1st m tg e $ 1 0 ,0 0 0 .0 0 0 g u g ($ 1 ,0 0 0 ) c * c p t , I n t . a t L a n d T it le & T r u s t C o . , P h ila ., T r u s .
1906
4 M K J -J
391 .00 0 J u ly 1 1936
D a r b y M e d ia & C h o s 1st M
$ 1,6 00 ,0 0 0 ($ 1 ,0 0 0 ) g e e p t I n t . a t L a n d T it le & T r u s t C o .. P h ila ., T ru s .
1910
J-J
3 75 ,00 0 J u ly 1 1920
O ar tru st c e r tfs , $ 1 ,5 0 0 ,0 0 0 .
Series ’ ’ A ” ______________c p t C o m tn e r . T r u s t C o . . P h ila . T ru ste e .
1913
5 M -S
2 .4 5 0 .0 0 0 M a r 1 1925
O ar tru st c e r t fs ., $ 4 ,2 0 0 ,0 0 0
Series “ B ” ______________c p t F id e lity T r u s t C o . , P h ila .. T ru ste e .
1913
5 g M -N
1 .1 3 4,00 0 M a y 1 1923
C a r tru s t c e r tfs . $ 1 ,9 4 4 ,0 0 0 ,
S cries ‘ ‘ 0 ” i______
- c p t F id e lity T r u s t C o . . P h ila d e lp h ia . T r u s te e .
B o n d s , m o rtg a g e s , g r o u n d re n ts , & c ., as o f J u n o 30 1917 a m o u n te d t o
$ 8 1 ,0 9 2 ,4 7 5 , a gain st $ 8 1 ,6 5 3 ,2 1 6 in 1916.
S to c k w as listed o n th e P h ila . S to c k E x ch a n g e In J u ly 1902 a n d In F e b .
1905 on N . Y . S to c k E x ch a n g e . V o tin g tru st ce r tfs . h a v e been liste d on
P h ila . S to c k E x c h . V . 9 5 , p . 1608: V . 103, p . 7 5 9 ; V . 1 04, p . 1 64 , 1146.
B o n d s .— C o lla te ra l tru st b o n d s a re s e cu re d b y d e p o s it w ith tru s te e o f
s ecu rities o w n e d b y P h ila . R a p id T r a n s it a n d a lso secu rities o f U n io n T r a c .
C o . a n d P h ila . T r a c . C o .; e n tire Issue s u b je c t t o c a ll a t 105 o n 6 w e e k s ’ p u b
lished n o tice o n a n d a fte r F e b . 1 1912. A s in k in g fu n d , w h ic h w ill re
tire all b o n d s b y F o b . 1 1957. b e ga n t o o p e ra te F e b . 1 1912. T h e M a r k e t
S treet E le v a te d R y . b o n d s c o v e r th e s u b w a y a n d th o e le v a te d ro a d on
M a r k e t S t. See V . 8 0 . p . 652. T h e y are gu a r a n te e d , p rin c ip a l and
Interest, b y en d orsem en t b y th e P h ila . R a p id T ra n s it C o . A r e s u b je c t
t o c a ll o n a n y In t. d a to a t 10214 a n d In t. V . 8 4 . p . 749; V . 8 6 , p . 5 47 .
T h o D a r b y M e d ia & C h e s te r S treet R y . b o n d s are g u a r ., p . & I ., b y en dorscun’ t b y P h ila . R a p . T r . C o . C a n b e ca lle d a t 102>4 & in t.
B o th th o co lla te r a l tru st b o n d s a n d M a r k e t S treet E le v a te d b o n d s w ere
listed o n th o P h ila d e lp h ia S to c k E x ch a n g e In A p ril 1909.
V . 8 8 . p . 945.
T h o sin k in g fu n d m o rtg a g e b o n d s o f 1912 are ca lla b le o n a n y M a r c h 1
as a w h o lo o r fo r s in k in g fu n d a t 105 a n d Interest. C u m u la tiv e sin k in g
S to c k $ 3 0 ,0 0 0 ,0 0 0 ($ 5 0 ).................... ..
96
fu n d o f $ 3 5 ,0 0 0 p er a n n u m b e g a n J a n . 15 1 917. O f th e $ 1 0 ,0 0 0 ,0 0 0
a u th oriz ed $ 7 ,7 8 5 ,0 0 0 a re o u t s t a n d in g .$ 58 0 ,0 0 0 are h e ld in ren ew al fu n d ,
$ 1,6 0 0 ,0 0 0 are in c o m p a n y ’s treasu ry and $ 3 5 ,00 0 h a v e been re tire d .
B o n d s are g u a r ., p . & i ., b y U n io n T r a c tio n C o .
V . 94, p . 827, 699. T here
are a lso $ 75 0 ,0 0 0 ce r tifica te s o f p a rtic ip a tio n in th e c o m p a n y ’s trea su ry
rep resen tin g $ 88 2 ,0 0 0 P . It. T . b o n d s o f 1912.
.— T h e series “ A ” ca r tru sts m a tu r e $ 7 5 ,0 0 0 s e m i-a n n u a lly
( J .- J .) . T h e Ser. “ B ” m atu re $ 1 7 5 ,0 0 0 s .-a . b e g . S e p t. 1 1913 a n d en din g
M a r . 1 1925.
R e d . a t 1 02)4 a n d in t. Series “ O " m atu re S 81.000 s .-a .
fro m N o v . 1 1913 t o M a y 1 1925. R e d . a t 1 02)4 a n d in t. a n d are secured
b y 500 new ca rs.
.— A n Initial d iv . o f $1 p e r sh a re w a s p a id in O c t . 1 916. In
1917, $2 50 p er share. In 1918, J a n ., $1 25 p e r sharo.
R O A D .— T o t a l tra ck a ge Ju n e 30 1917, in clu d in g all lines leased and
o p e r a te d , 6 6 1 .14 6 m iles. O w ns a b o u t 3 ,3 2 5 cars o f all k in d s .
A N N U A L R E P O R T .— F iscal ye a r en d s J u n e 3 0 . A n n u a l r e p o r t fo r
1916-17 w as g iv e n in V . 105, p . 386
1 916-17.
1915-16
1 916-17.
191 5 -1 6.
S
S
•
S
s
P a ss , earnings 2 7 ,5 04 ,0 4 1 2 4 ,8 7 1 ,2 5 5 T a x e s ................ 1 ,3 9 8 ,4 1 3
1,26 4,70 1
O th er r e c e ip ts 1 ,0 4 9 ,5 7 4
968 ,08 9
T o t a l e x p . .1 6 ,0 0 4 ,1 7 1 1 4 ,3 72 ,4 2 8
T o t a l . ............. 2 8 , 5 5 3 , 6 1 4 2 5 , 8 3 9 , 3 4 4 N e t e a rn in g s . 1 2 ,5 49 ,4 4 3 1 1,4 66 ,9 1 6
Expenses—
—
I n t e r e s t ........... 2 ,2 8 0 ,1 8 0 2 ,3 0 8 ,7 8 0
M a i n .& r e n e w . * 4 , 2 8 3 , 0 4 2 * 3 , 8 7 5 , 9 0 2 R e n ta ls _______ a 7 ,4 8 5 ,3 9 3 a 7 ,48 5 ,4 32
O p .o f p o w .p l ’ t 1 ,6 9 4 ,1 5 1
1 , 4 4 1 , 4 2 2 D iv id e n d s (5 % ) 1 ,4 9 9 ,2 7 8 (2 )5 9 9 ,0 1 1
O p e r . o f c a r s . 7 ,1 2 9 ,7 3 9
6 ,4 4 7 ,0 7 8
M
Cr T s
a ruts
Didns
iv e d
G e n e r a l ------------- 1 , 4 9 8 , 8 2 6
1 , 3 4 3 , 3 2 5 S u r p l u s ................ 1 , 2 8 4 , 5 9 2
1 ,0 7 3 ,6 9 3
* M a i n t e n a n c e a n d r e n e w a ls in 1 9 1 6 - 1 7 i n c lu d e a m o u n t e x p e n d e d , $ 2 ,
7 1 2 , 1 2 1 , a g a i n s t $ 2 , 5 0 6 , 7 3 1 in 1 9 1 5 - 1 6 , a n d u n e x p e n d e d b a l a n c e , $ 1 , 5 7 0 ,
9 2 1 , a g a in s t $ 1 ,3 6 9 ,1 7 1 .
a I n c l u d e s $ 1 2 0 ,0 0 0 s i n k i n g f u n d ( c i t y c o n t r a c t ) .
Latest Earnings.— F o r 9 m o s . e n d . M a r . 3 1 :
9
Months —
Gross.
N et, aft. taxes Fixed Charges.
Surplus.
1 9 1 8 . . .......................$ 2 2 , 4 1 8 , 4 5 9
$ 8 ,9 2 0 ,3 4 4
$ 7 ,3 1 1 ,5 2 4
$ 1 ,6 0 8 ,8 2 0
1 9 1 7 ----------- -------------- 2 1 . 0 0 1 , 0 9 5
9 .2 2 1 ,7 7 0
7 ,3 2 8 ,4 6 8
1 .8 9 3 ,3 0 2
O F F I C E R S .— C h a irm a n o f B o a r d , E . T . S to to s b u ry ; P r e s ., T . E . M i t
ten ; V .- P ., R . B . H a m ilto n ; S e c. & T r e a s ., R . B . S elfrid g e; A s s t. S e c. &
A s s t. T r e a s ., W . C . D u n b a r : A s s t. T r e a s ’rs. W . J . Shields an d G . W . D a v is ;
A u d ., E . L . A u s tin .— V . 106. p . 8 2 2 , 9 25 , 1345, 1901, 2 01 1 , 2 12 3 .
(1) D o y l e s t o w n & W i ll o w G r o v e R y . C o .— A tr o lle y r o a d .
In J u ly 1902 w as a cq u ire d b y th e P h ila d e lp h ia R a p id T ra n s it th r o u g h
p u rch a se o f th e en tire ca p ita l s to c k ($ 50 0 ,0 0 0) fo r $ 2 0 ,0 0 0 . T h e R a p id
T ra n s it C o . gu aran tees in terest o n th e b o n d s . S ee V . 7 9 , p . 1331.
STOCK A N D BON DS—
$ 50 0 ,0 0 0 .......................
S to c k $ 50 0 ,0 0 0 ($ 5 0 )...................... ...............................
F irst m tg e $ 50 0 ,0 0 0 ($ 1,000)1 1900
4 g J -D
5 0 0 .0 0 0 J u n e 1 1930
g o ld g u a ra n te e d — c * . c p t ] L a n d T it le
T r u s t C o . , P h ila .. T ru ste e .
R O A D .— T r a c k a g e , 13.636 m iles, fro m D o y le sto w n to W illo w G r o v e ,
ru n n in g o v e r th e o ld tu rn pik e b etw een th ose p la c e s, w h ich Is leased fo r 999
years.
E A R N I N G S .— In clu d e d in P h ila . R a p id T ra n s it C o .— V . 7 9 , p . 1331.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S
c
(2) Tw enty-Second Street 5s Allegheny Avenue Passenger Ry.
S
c
O R G A N I Z A T I O N .— F orm ed In 1903 an d m erged th e o ld T w e n ty -s e c o n d
S t. & A lle g h e n y A v e . Passenger R y . C o . (ch a rtered 1 8 9 0 ), th e F a lrm ou n t
F ra n k fo rt R y . C o ., F ish er’s L a n e R y . C o ., L ln d le y A v e . R y . C o ., O h elton
A v e . P ass. R y . C o . , G erm a n tow n & F a lrm o u n t R y . C o . a n d th e P h ila . &
T r e n to n R a p id T ra n sit S t. R y . C o . Is leased to th e P h ila . R a p id T ra n sit
C o . fo r 6 % per an n u m o n p a id -in ca p ita l.
S T O C K .— A u th . a m o u n t, $ 1 ,3 0 2 ,0 0 0 ($ 5 0 ): 2 2 ,4 5 6 shares o u tsta n d in g .
$25 p a id in . D u o lessee, June 30 1917, $ 56 1 ,4 0 0 .
R O A D .— T ra ck a g e 6 5.3 28 m iles.
(3) Darby 5c Yeadon Street Railway.
O R G A N I Z A T I O N .— E n tire s to c k ($ 5 ,0 0 0 ) Is o w n e d b y th e P h ila d elp h ia
R a p id T ra n s it C o .
STOCK A N D BONDS—
S to c k all o w n ed b y P h ilad elp h ia R a p id T ra n s it C o .
F irst m o rtg a g e $ 20 0 ,0 0 0 g o ld ! 1904
4 )4 g J -D
$ 20 0 ,0 0 0 D e c 1 1934
gu ar (5 1 ,0 0 0 )-----------c * . c p t l In t. a t L a n a T it le
T r . C o ., P h ila ., T ru ste e .
— A re gu a ra n teed , prin. & in t ., b y en d orsem en t b y th e P h ila . R a p
T ra n sit C o . A re s u b je ct t o call o n a n y Interost d a te a t 105 a n d in terest.
R O A D .— F ro m th e P h ila d elp h ia C o u n ty line to D a r b y , 2 .4 9 8 m iles.
Dte In rs Ots nin. Mtu .
a . teet. u tad g a rity
S
c
Bns
od.
(4) Chester 5: Philadelphia Railway (Chester Short Line).
Is op e ra te d b y P hila. R . T . u n d er 3 0 -y e a r a greem en t d a te d F e b . 14 1911.
O R G A N I Z A T I O N .— In c o r p . In P e n n , o n J u n e 29 1910 as s u ccessor to
th e P h ila .
C h ester R y . , sold a t foreclosu re (V . 9 2 , p . 1 24 3 ). In con sid era
tio n o f an a greem en t to op era te th e line th e P h ila . R a p id T ra n sit recoiv ed
5 1 % o f C h ester
P h ila . s to c k . T h e C h ester & P h ila . receiv es 3 5 % and
R a p id T ra n s it 6 5 % o f gross earn in gs, fo r w h ich th e R a p id T ra n s it assum es
all co s ts o f o p e ra tio n . T h e 3 5 % to b e a p p lied to In t. o n b o n d s a n d d lv s.
o n s to c k . Franchises are u n lim ited as to tim e .
ST O C K A N D BONDS—
S to ck $ 4 8 5 ,0 0 0 ($ 5 0 )..............................
................
$ 4 8 5 ,0 0 0 .......................
1st M $ 6 0 0 ,0 0 0 g o ld ($100.-1 1 910
5 g J -J
6 0 0 .00 0 J u ly 1 1940
$500 a n d $ 1 ,0 0 0 )------- c * . t f j l n t . a t R e a l E s t. T i t . I n s .& T r .O o .,P h ila .,T r
Bonds.— R o d . o n a n y in t. d a te a t 105 a n d in t. o n fo u r w e e k s ’ n o tice .
F ree fr o m P en n . S ta te t a x . S in k in g fu n d o f o n e -h a lf th o su rplu s earnings
o v e r 4 % o n th o s to c k shall eith er p u rch a se an d retire b o n d s o r b o used for
n ow c o n s t r u c tio n .
V . 104, p . 7 6 3 . L iste d on P h ila d e lp h ia S to c k E x c h .
E A R N I N G S .— F o r yoars e n d in g D e c . 31;
S
c
S
c
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Calendar
Year —
[Vol. 106.
E L E C T R IC R A IL W A Y S
Gross
Earnings.
Rental
(3 5 % ).
Other
Reels.
$ 1 2 1 ,5 2 0
5 0 ,4 2 0
$604
320
Lae
e s.
U N IO N T R A C T I O N .— A tr o lle y r o a d .
— T h e U nion T r a c tio n C o . has been leased fo r 999 years fro m J u ly 1
1902 t o th e P h ila d elp h ia R a p id T ra n s it C o .
Lease ren tal (p a y a b le In
g o ld ) Is $ 9 0 0 ,0 0 0 per an n u m (e q u a l t o 3 % o n th e fa ce va lu e o f th e $ 3 0 ,0 0 0 .
000 s to c k ) for th e first tw o y e a rs , $ 1 ,2 0 0 ,0 0 0 p er an n u m (e q u a l t o 4 % on
s to c k ) fo r th e n ex t tw o yea rs, $ 1 ,5 0 0 ,0 0 0 per an n u m (eq u a l t o 5 % o n s to c k )
fo r th e n ex t tw o yoars an d $ 1 ,8 0 0 ,0 0 0 per a n n u m (eq u a l t o 6 % on s to c k )
th erea fter. T h e s toc k h old e rs o f th e U nion T r a c t io n C o . w ere g iv e n th e
righ t t o p u rch a se 150,000 shares o f th e new R ap id T ra n s it C o . s to c k .
V.
7 4, p . 989.
In clu d ed at the tim e all th e lea din g str e e t passenger ra ilw a y
lines w ithin th e c it y o f P h ila d elp h ia .
O R G A N I Z A T I O N . — C h a r te r e d S e p t . 13 1 8 9 5 , a n d a c q u ir e d o n o r a b o u t
O c t . 1 1 8 9 5 a il t h e s h a r e s o f th o E l e c t r i c T r a c . a n d P e o p l e ’ s T r a c . c o m p a n i e s ,
in p la c e o f w h ic h w e r e Is su e d c o lla t e r a l t r u s t c e r t i fi c a t e s s e c u r e d b y t h e
s h a r e s p la c e d in t r u s t .
I n 1 8 9 6 le a s e d t h e s e p r o p e r t ie s fo r 9 9 8 y o a r s a n d 3
m o u th s fr o m J u ly 1 1 8 9 6 .
O n O c t . 1 1 8 9 5 le a s e d fo r 9 9 9 y e a r s t h e P h i l a
d e l p h i a T r a c t i o n a t 8 % o n its c a p i t a l .s to c k .
V. 61, p. 663.
L e a s e s ( fr o m
J a n . 1 1 8 9 8 ) f l e s t o n v i l l e M a n t u a S F a l r m o u n t P a s s e n g e r I t y . fo r 9 9 9 y e a r s
l
a t 6 % o u p r o f, a n d 4 % o n c o m . s t o c k
See V . 6 6 . p . 2 3 6 .
T h o L e h ig h
A v e . R y . C o . ( $ 1 , 0 0 0 , 0 0 0 s t o c k ) w a s a ls o le a s e d fo r 9 9 9 y e a r s f r o m J u l y 1
1899.
S e e t e r m s o f c o n s o l i d a t i o n , & c . , in s t a t e m e n t s fo r t h o c o n s t i t u e n t
c o m p a n ie s a n d V . 6 1 , p . 1 5 2 ,1 9 7 , 2 8 3 , 6 6 3 .
F o r c h a n g e in t e r m s o f le a s e se e
V . 89. p. 594.
T h e P h i l a d e lp h i a R a p id T r a n s i t n o w o p e r a t e s t h o r o a d .
A ls o ow n s entire s to c k o f the P h ila d elp h ia & W illo w G r o v e R y . C o .
U n ion T r a c t io n sh areh olders in O c t. 1908 g a v e their assent to th o use o f
cer ta in secu rities ow n ed b y th e U n ion T r a c . C o . to be p led ged as colla teral
fo r th o $ 5 ,0 0 0 ,0 0 0 loan o r th e P h ila . R a p id T ra n s it C o .
V . 8 7 , p . 1110.
T h e sh areh olders v o t e d June 20 1910 (fo r m a lly ra tifie d S e p t. 21 1916:
V . 9 1 , p . 337) to p u rch a se the e q u ip m e n t o f th e 1’ htla. R a p id T r a n s it, and
lease sam e t o th a t c o m p a n y on term s as s ta te d u n der P h ila. R a p id T r a n s it,
a n d m ak e th e eq u ip m e n t th e basis o f an issue o f $ 1 ,5 0 0 ,0 0 0 ca r trusts. O n
F e b . 26 1913 th e y v o te d to p u rch ase a d d itio n a l eq u ip m e n t an d lease it
t o th e P h ila d e lp h ia R a p id T ra n s it C o . a n d t o Issue $ 4 ,2 0 0 ,0 0 0 ca r trust
ce r tifs . (S er. B ) as a resu lt o f th e tra n s a c tio n . In M a y 1913 a furth er Issue
o f $ 1 ,9 4 4 ,0 0 0 c a r trusts (S er. O ) w as p u t o u t . See u n d er P h ila . R a p id
T ra n s it a n d V . 9 6 . d . 5 5 5 . and V . 9 7 . p . 8 03.
O n F e b . 28 1911 shareholders v o t e d t o g u aran te e new P h ila . R a p id T r a n s .
$ 1 0 ,0 0 0 ,0 0 0 m tg e . S ee u n d er t h a t c o m p a n y a n d V . 9 1 , p . 1 5 /5 ; V . 92
p . 3 2 4 . 4 6 3 . 596.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
S to c k $ 30 ,0 0 0 ,0 0 0 (p a r $ 5 0 ) . f ------J-J
/6 0 0 .0 0 0 shs. i J a n ’ 18. 3 %
($ 1 7 .5 0 p d .i n j
Trust Co certificates, gold. 1895 4 g A -O $ 2 9 ,7 3 0 ,1 1 4 R e d . a fte r
guar.^,
Sc 1 by Union
O c t 1 1945
Trust
cpt I n t . a t P a . C o . f o r In s . o n L iv e s & G ran tin g
A n n u itie s, T ru s te e .
Collateral trust first mortgage 1902 . 4 g J -J
1 .2 9 1,00 0 J u ly 1 1952
$1,500,000 gold--------- cptl L a n d T it le T r u s t C o ., P h ila d e lp h ia , T r u s .
S
c
Clla r l T s Bns
o tea rut od.
S
c
L I N E S C O N T R O L L E D B Y U N IO N T R A C T I O N C O .
(1) C a t h a r i n e & B a i n b r i d g e S t r e e t s R y .— A tr o lle y r o a d .
O R G A N I Z A T I O N .— I n co r p o ra te d M a y 14 1889. an d leased t o th e P h ila
d e lp h ia T r a c t io n C o . M a r . 1 1890 fo r 99 y e a rs , a u d in clu d e d in leaso o f th a t
c o m p a n y t o th e U nion T r a c tio n C o . O c t. 1 1895; in S e p t. 1895 term o f lease
was in creased fr o m 99 t o 999 yoars a n d s to c k fro m $ 15 0 ,0 0 0 to $ 40 0 ,0 0 0
(all o w n e d b y P h ila . T r a c . C o .) ; ren tal is $ 2 4 ,0 0 0 y e a r ly , besidos Interost
an d ta x e s.
STOOK A N D BON DS—
6 % M -S
$ 40 0 ,0 0 0
See te x t
S to c k (p a r $ 5 0 ) . -------------------------------1st M $ 1 5 0 ,0 0 0 ($ 1 ,0 0 0 ) c . c p t 1890
5 % A -O
150,000 A p r il 1 1920
D u e lessee J u ly 1 1 917________ ______
________
234 ,69 8 .......................
are n o t s u b je c t t o c a ll. In te re st a t L a n d T . & T . C o . , tru s tee,
P en n . C o . fo r In su ra n ces o n L iv e s ,
— D iv id e n d s o f 6 % are p a id .
R O A D .— T h e ro a d a ggregates 5.4 6 5 m ilos o f t r a c k .
(2) C i t i z e n s ' P a s s e n g e r R a i l w a y .
O R G A N I Z A T I O N .— In c o r p o r a te d M a r . 25 1858. L oa sed t o F ra n k fo r d
S o u th w a rk P assenger R a ilw a y C o . A p r il 1 1892 fo r 9 99 yea rs; ren tal
n o w $ 14 0 ,0 0 0 p er a n n u m , e q u a l to 2 8 % o n s t o c k , o r $14 per $ 50 sh a ro.
T h is lease w as assum ed b y th o E le c tr ic T r a c t io n C o . J u ly 1 1893. O p erated
b y P h ila d e lp h ia R a p id T ra n s it C o .
S to c k a u th o riz e d , $ 50 0 ,0 0 0 (p a r $ 5 0 ); p a id in . $ 1 9 2 ,5 0 0 — $20 o n 8 ,5 0 0
shares an d $ 15 o n 1,500 sh aros. R o a d , C o lu m b ia A v o n u e t o M ifflin
S tr e e t, 1 1.447 m iles o f tra ck .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od
Didns
iv e d.
Sc
e.
S
c
(3) C o n t i n e n t a l P a s s e n g e r R a i l w a y .— A t r o lle y r o a d .
O R G A N I Z A T I O N .— I n co r p o ra te d S e p t. 3 1873. L e a so d J a n . 1 1880
to U nion P assen ger R a ilw a y C o . fo r 99 ye a rs a t rou ta l o f $6 p or sharo
p er a n n u m , in te re s t, taxes a n d o p e ra tin g expon sos; leaso a ssigned t o P h ila
d e lp h ia T r a c t io n C o . J u n o 30 1884. O p o rate d b y P h ila . R a p id T ra n s it C o .
S to c k s o w n e d , p or b a la n c e sh oot J u ly 1 1917, $ 60 0 ,0 0 0 .
STOOK A N D BONDS—
S to c k (p a r $ 5 0 ) ..........................................
$6 J -J
/ 2 0,0 00 s h s ., 1
($ 2 9 p a id i n ./
Soo t e x t .
F irst m o rtg a g e ($ 50 0 a n d l 1879
4 g J -J
$ 28 0 ,0 0 0 J u ly 1 1959
$ 1 ,0 0 0 ) g o l d ___________c& rj L a n d T it lo
T r u s t C o ., P h ila ., tru s te e.
D u o lessoo fo r a d d itio n s J u ly 1 1917, $ 67 2 ,2 6 0 .
B o n d s w ero o rig in a lly 6 % , b u t in 1909 w ore o x to n d o d fo r 50 yea rs a t 4 % .
I n t . p a y a b le a t o f f ic o o f c o m p a n y . N o t s u b je c t to c a ll.
B o n d s w ero listed
in 1909 o n P h ila . S to c k E x c h .
V . 88, p. 822.
T r a c k a g e , 11.41 m ilos;
V . 106, p . 9 2 4 .
Dte In ret. Ots nin Mtu .
a . te s u tad g a rity
S
c
(4) E le c t r ic T r a c t i o n .
O R G A N I Z A T I O N .— In c o r p o r a te d M a y 8 1893 a n d a cq u ire d c o n tr o l o f
the C itiz e n s ’ P assenger R y . , th e F ra n k fo r d & S o u th w a rk P assongor R y ,
a n d th e S e co n d & T h ir d S treets P assongor R y . O n J u ly l 1896 leasod for
999 vea rs th o C itiz e n s ’ C le a rfie ld & C a m b ria S t. R y . . th o C itiz e n s ’ E ast E n d
S t. R Y .. >tho B row n & Parrish S t .. R y . an d th e C itiz e n s ’ N o r t h E n d S t. R y .
In 1895 th o U nion T r a c t io n C o . a cq u lro d a ll tho s to c k a t tho ra to o f
$85 p or share fo r e a ch sh a re , o n w h ich $50 h a d boon p a id , a n d $ 70 p or
sharo fo r e a ch share o n w h ich $ 30 had boeu p a id , th o P e n n sy lv a n ia C o . fo r
Insurances o n L ive s
G r a n tin g A n n u ities Issuing th e re fo r its gu a r a n tood
trust c e r tific a te s . O n J u ly 1 1896 th o U nion T r a c t io n C o . loased tho
p ro p e rty fo r 998 yoa rs a u d 3 m o n th s . See V . 6 1 , p . 197, a n d a lso “ U nion
T r a c t io n .”
S to c k a u th o riz e d , 1 75,000 sharos o f $50 e a ch ; issu ed , 152,396 sharos o f
$50 p a id a n d 2 2 ,6 0 4 shares o f $ 30 p a id , m ak in g to ta l $ 8 ,2 9 7 ,9 2 0 .
R O A D .— M ile a g e . 1 29.855 m ile s . R a il. 90 lb s .— V . 6 3 . p . 5 5 7 .
S
c
(5) E m p ir e P a s s e n g e r R a i l w a y .— 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 o b . 10 1869. L oa sed D o c . 26 1873
to C itiz e n s ' P assongor R a ilw a y C o m p a n y a n d th o S o v o n to e n th
N in e
te en th S treet P assenger R a ilw a y C o m p a n y fo r 999 y o a rs . T ra n s fe rred
O c t. 1 1895. a lo n g w ith a ll right t o d iv id e n d s o n 6 ,1 0 0 sharos o f its s to c k
(th e n h old b y th o U n ion P assonger R a ilw a y C o . as tru stee a n d lo ss o o ), b y
lease o f P h ila d e lp h ia T r a c t io n to tho U n ion T r a c t io n C o .
D iv id e n d s are
$1 50 p or $50 share e a ch Ju n o 30 and D e c . 3 0 — th a t is 6 % p e r unu.
STOCK A N D BON DS—
S to c k (p a r $ 5 0 ) -----------(A ll o w n e d b y P h ila . T r a c .)
$ 60 0 ,0 0 0 _____________
1st M g o ld $ 2 0 0 ,0 0 0 .. . c . c p t . 1900
3 )4 g J -J
2 0 0 ,0 0 0 M a r 1 1930
— T h e new 3 )4 s w ore Issued t o retire a llko a m o u n t o f 7 s, d u o
July 1900. L a n d T it le
T r u s t C o ., P h ila ., T ru ste e .
D u e lessee c o m p a u y fo r a d d itio n s J u ly 1 1917, $ 70 5 ,7 1 5 .
R O A D .— M ile a g e , 12.41 m ile s .— V . 7 0 . p . 1150.
S
c
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
od
Te l a ssc u ns Bns
Rcta . Txr.&. Brpc.
eoip Ineet, S lalu,
ts te a e
$ 12 2 ,1 2 4 $ 3 6 ,90 0 $85 ,21 8
________
________
_______
5 0,7 40
3 3 ,9 1 8
16,821
R O A D .— 15.2 m iles o f tra ck , in clu d in g m ain line fro m C h e sto r t o P h ila .,
an d b ran ch es fr o m E ssington t o M o o r e S ta tio n a n d E ss in g to n t o P h ila .—
V . 9 2 , p . 1310; V . 1 0 4 . p . 7 6 3 . _______
1 9 1 6 ...............................$ 3 4 7 , 1 9 9
1 9 1 5 ............................... 1 4 4 . 0 5 8
T s Crtificte.
rut e a s
S
c
— T h e tru st c e r tifica te s a re n o t th e d ir e c t o b lig a tio n s
o f th e U n ion T r a c t io n C o . , b u t w ere Issued b y th e P a . C o . fo r Ins o n L ives
G r a n tin g A n n u itie s, t o p a y fo r th e shares o f th e E le c tr ic an d P e o p le ’s T r a c
tio n co m p a n ie s p u rch a se d a n d are secu red b y a d e p o s it w ith th e T r u s t C o .
o f all th e shares o f th e s to c k o f th e E le c tr ic T r a c t io n C o . and th o P e o p lo ’s
T r a c t io n C o . th u s a c q u ir e d . See d e sc rip tio n o f ce r tific a te s In V . 6 4 , p . 135.
T h e y are g u a r ., p r in . a n d in t ., b y th e U n io n T r a c t io n C o ., a n d are r e d eem
a b le a t th e o p t io n o f th a t c o m p a n y on a n d a fte r O c t. 1 1945.
— T h e c o lla te r a l tru st b o n d s w ero issued t o fu n d
th e flo a tin g d e b t a n d are secu red b y th e d e p o s it o f th o 3 5,0 00 shares o f th e
c o m m o n s to c k o f th e H e s to n v ille M a n tu a & F a lrm o u n t P ass. R R .
S u b je c t
t o ca ll a t 105 a n d a ccr u e d in t .; $ 20 9 ,0 0 0 has been retired b y sin k in g fu n d .
O F F I C E R S .— P r e s ., J erem ia h J . S u lliv an ; 1st V . - P . , C h a s. E . H e e d ;
S e c.
T r e a s ., W . J . S h ield s.— V . 9 9 , p 818; Y . 103, p . 1120, 1 302.
S
c
(6) F r a n k f o r d & S o u t h w a r k P h i l a d e lp h ia C it y P a s s e n g e r R a i l w a y .
O R G A N I Z A T I O N .— In co r p o ra te d A p ril 4 1854.
A cq u lro d s to c k o f
L o m b a rd
S o u th S troots Passenger R a ilw a y in ,1890. L easod t o th e
E lo c tr ic T r a c t io n C o . fo r 999 yoars fro m J u ly 1 1893; d iv id e n d s fo r th e
several yoars na m ed b e lo w b ein g gu aran teed por share:
S
c
1s 2 3 4 5 tt 7 8 9 10 ad a r
t d d th tli )h th th th th n fte
M s. Dte In ret. Ots nin Ls d .,Se
ile a . te s u tad g at iv e.
Db o Cn o dL e (su e b E c T c nC.)
et f S tr lle ins as m y letric ratio o
o
d
c
S
c
$12 $ 1 2 .5 0 $13 $ 1 3 .5 0 $14
STOOK AN D BON DS—
S to c k (p a r $ 5 0 ) ..................................
$ 14 .50
$15
$ 16
........
Q -J
$ 1 ,8 7 5 ,0 0 0
$17
$18
Soo te x t
L o m b a rd
S o u th S treets)
10 1881 314 J -D $ 15 0 ,0 0 0 D o c 1 1951
P ass firs t m tg e $500
In terost at R eal E sta te T itiu In su ra n ce
T ru s t
$ 1 . 0 0 0 ) ____________c . c p t )
C o ., T ru ste o .
W est E nd Pass R y m tg o)
9
1375
4 A -O
132,100
O c t 1 1935
e xt $ 15 0 ,0 0 0 ($100 a n d )P h ila . T r u s t, S afe D o p o s it
Ins. C o ., T r u s te e .
$ 5 0 0 ) ______________ c . c p t ) Interost at L a n d T it le & T r u s t C o .
T h o L o m b a rd & S ou th S ts. pass, issue o f $ 15 0 ,0 0 0 w as o r ig in a lly 5 %
b u t w as ca lle d at m a tu r ity and then o xton d od fo r 50 yoars fr o m D o c . 1 1901
a t 3 1 4 % . T h o YVest E n d Pass. R y . m tg o . m atu red O c t. I 1905 b u t was
e x te n d e d fo r 30 yoars at 4 % .
V . 8 1 , p . 156.
R O A D .— T r a c k a g e , 7 1.5 86 m iles.
S
c
(7) G e r m a n t o w n P a s s e n g e r R a i l w a y .— A tr o llo y r o a d .
O R G A N I Z A T I O N .— In co r p o ra te d A p ril 21 1858.
Loasod O c t. I 1881
to th o P e o p lo 's P assenger R y . C o . fo r 999 yo a rs. b u t ren tal m o d ifie d in
1893; s to c k sin ce 1897 roceiv os d iv id e n d s y e a r ly o f $5 25 por share.
S to c k a u th o riz e d . $ 1 ,5 0 0 ,0 0 0 ($ 5 0 ); p a id in , $ 5 7 2 ,8 6 0 .
R O A D .— T r a c k a g e , 4 3 .9 0 5 m iles. E xte n s io n o f 2 ,0 0 0 fo o t fr o m H illcrest
A v e n u e t o c it y lino, c o in p lo to d in S ept. 1898, fo rm s w ith th o R o x b o r o u g h
C h e s tn u t H ill
N o rris to w n P assongor R y ., a th ro u g h lino t o N o r r is to w n .
■V. 6 9 , p . 6 95.
S
c
(8) G r e e n & C o a t e s S t r e e t s P h i l a d e l p h i a P a s s e n g e r R a i l w a y .
O R G A N I Z A T I O N .— In co r p o ra te d A p ril 21 1858.
L oasod t o P e o p lo ’s
P assonger R y . fo r 999 years fro m S o p t. 1 1881 at an an n u al ren tal o f $ 6 0 ,0 0 0 ,
Interest o n b o n d s (sin ce fa lle n d u o) and oxp o n se o f m a n a g e m e n t.
S to c k , 10,000 shares (p a r v a lu e . $ 5 0 ). $15 p a id in . D iv id e n d s are 1 2%
per a n . (Q -J ); on par o r 4 0 % o n a m o u n t p a id In. T r a c k a g e .5.429 m iles.
(9) H e s t o n v i l le M a n t u a & F a l r m o u n t P a s s e n g e r R a i l w a y .
O R G A N I Z A T I O N .— I n c o r p . A p ril 6 1859. F ra n ch ise is p o rp o tu a l.
L E A S E .— H e s to n v ille M . < c F . roa d leased f r o m ’ J a n . 1 1898 t o U nion
S
T r a c t io n fo r 999 ye a rs a t a ren tal o f 6 % o n th o preferred a n d 4 % o n tho
c o m m o n s to c k .
B y th o term s o f th o lease th o F a lrm o u n t P ark & H a d d in g
to n lease Is assigned t o th o U nion T r a c t io n , w h ich assum os th o d iv id e n d s
g u aran teed o n th a t s to c k (a ll o w n e d b y H e s to n v illo C o . ) . T h o U nion T r a c
tio n assum es th e b o n d o d d e b t o f b o th th o H e s to n v illo a n d H a d d in g to n c o m
panies a n d p u rch a sed 4 ,7 8 0 sharos o f th o p referred a t par a n d 3 5 ,2 9 4 o f th e
o m m o n H e s to n v ille s to c k a t $45 por $50 s h a ro .
V . 6 6 , p . 236.
Ma y , 1918.]
■
E L E C T R IC R A IL W A Y S
Dte In ret, Ots nin. Mtu .
a . te s u tad g a rity
STOCK A N D BONDS—
4 J -J
$ 1 ,9 6 6 ,1 0 0 f .p . See te xt
C o m m o n s to c k p a r $ 5 0 .............................
P referred s to c k p a r $ 5 0 ......................
6 J -J
5 3 3 .9 0 0 f.D . S ee te x t
C o n s o lid a te d M $1,250,0001 1894 5 - 3 4 g M - N * 1 ,2 5 0 ,0 0 0 M a y 1 1924
g $500 & $ l , 0 0 0 . c * x . c p t j T r u s te e , G ira rd T r u s t C o .
9 99 -y oar lease—
Fair-m ount P k & H a d d in g to n 1 ---------6
g F -A
3 0 0 ,0 0 0
See te x t
P ass R y s tk p a r $ 5 0 _______ /
“ L ea sed E q u ip m e n t A c c o u n t ,1’ Ju n e 30 1 9 1 6 ____
241 968
D u e leased linos Ju n e 30 1 91 7 _______________________
lOO’ oOO
is p a y a b lo In P h ila d e lp h ia ,
F roo o f t a x .
’
* O f th e $ 1 ,2 5 0 ,0 0 0 o u ts ta n d in g , $ 1 2 4 ,5 0 0 w ore issued J a n . 1901 as 3 4 s
t o ta k e u p b o n d s o f lik e a m o u n t o f th e F a irm o u n t P a ss . R y . d u e a t th a t
tim e an d $ 7 6 ,0 0 0 on M a r . 1 1 90 2 , t o ta k e u p a lik e a m o u n t o f 2 d m o rtg a g e
6s m a tu rin g o n t h a t d a te .
C o m m o n s t o c k a u th o r iz e d , 3 9 ,3 2 2 sh ares; p re fe rr e d , 10 678 shares- Dar
v a lu e o f e a c h , $50; s to c k ou ts ta n d in g as in ta b lo .
’
R O A D .— T r a c k a g e , 19.782 m ile s .— V . 7 1 . p . 1 167.
(1 0) L o m b a r d & S o u t h S t r e e t P a s s e n g e r R a i l w a y .— See F ra n k fo r d &
S ou th w a rk P a ssen g er R a ilw a y .
Gaated re ta
ur n e n l
In ret
te s
x
(11) P e o p l e ’ s P a s s e n g e r R a i l w a y .— A n e le ctric r o a d .
O R G A N I Z A T I O N .— C h a rte re d A p r . 15 1873. T h e P e o p le ’s T r a c . C o .
o n A p r . 15 1893 a cq u ired th e e n tire ca p ita l s to c k o f this r o a d a t $70 p e r
sharo. T h e T r a c t io n C o . th e n leased th e P e o p le 's P assen ger R y . B y a
trip a r tite a greem en t this lease w as o n J u ly 1 1896 assigned t o t h e U n io n
T r a c . C o . fo r 998 years a n d th roe m o n th s .
R e n ta l Is 1 0 % p e r a n n u m o n
ca p ita l s to c k ($2 50 p er s h aro) as b e lo w s h o w n , n e a rly all o f w h ich isi p le d g e d
fo r P e o p le ’s T r a c t io n C o . tru st ce r tifica te s .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
STO CK A N D BON DS—
C o m m o n s to c k ($ 2 5 ). 1 0 % M -S 31
a 60 ,0 0 0 sh s. S ee te x t
P referred s to c k ($ 2 5 )-----------------------1 0 % M -S 3 1
a 2 3 ,000 shs. See te x t
F irst m o rtg a g e ($ 1 .0 0 0 )c
c p t 1874 4 J -J 1 5
$ 2 1 9 ,0 0 0 J an 15 1935
S ocon d m o rtg a g e $500,0001 1881
4 J -J
2 85 .00 0 J u ly 15 1961
( $ 1 .0 0 0 ) ......................... c . c p t f l n t . a t O u a r . T r . & S . D ? C o . ; P h l l L . T r u s
C o n s o lid a te d m tg o $ 1,1 25 .-1 1882
4 M -S
2 4 6 ,0 0 0 M a r 1 1902
000
($ 1 .0 0 0 )____ c & r . c D t f l n t . a t G u a r . T r . «fc S . D . C o .7 P h ila . .T r u e
T o t a l s t o c k p a id in $ 9 2 4 ,0 5 6 .
’
I n t . on 1st M . b o n d s a t L a n d T it le & T r u s t C o . T h e 1st AT h o n d s m a
tu red J a n . 15 1 90 5 . b u t $ 21 9 ,0 0 0 o f th e $ 25 0 ,0 0 0 w ere e xte n d e d as 4s to
1935. th e rem a in in g $ 31 ,00 0 b e in g c a n c e le d . T h e 2 d M . b o n d s m a tu r e d
J u ly 15 1911, b u t w ere ex ten d e d as 4s t o 1961. C o n s o l, m tg e . b o n d s w ere
orig in ally 5s a n d fell d u o M a r . 1 1912, b u t w ere e xte n d e d fo r 50 ye a rs as 4s
D u o P e o p lo ’s T r a c t io n C o . J u n e 3 0 1917 fo r c o n s tr u c tio n a n d e q u ip m e n t.
$ 5 ,9 3 4 ,2 8 2 .
T h e s to c k a cq u ired b y th e P e o p le 's T r a c t io n C o . w as p le d g e d as s e cu rity
o r tru st c e r tific a te s .
S e e P e o p lo ’s T r a c t io n .
R O A D .— T r a c k a g e , 2 .6 5 9 m iles.— V . 6 3 , p . 6 57 ; V . 9 2 , p . 1500.
a
(12)
P e o p l e ’ s T r a c t i o n . — A n e le c tr ic r o a d .
O R G A N I Z A T I O N .— A P en n sy lv a n ia c o r p o r a t io n ch a r te r e d M a r c h 6
1893 t o o p e ra te a n d eq u ip w ith tr o lle y th e P e o p le ’s P assenger R y
th e
entire c a p ita l s to c k o f w h ich It pu rch a sed o n o r a b o u t A p r il 15 1 8 9 3 * In
O c t. 1895 th e U n ion T r a c t io n C o . a cq u ire d all t r a c tio n s to c k a t $76 ner
sh a re, the P en n sy lv a n ia C o . fo r Insurances o n L iv e s an d G r a n t A n n
issuing th erefor its gu aran teed tru st ce r tifica te s . O n J u ly 1 1896 t h e ' Union
T r a c tio n C o . leased th e ro a d fo r 9 98 yea rs a n d th re e m o n th s ?
Dte
a.
Isud
s e.
Mtu .
a rity
S T O C K , A c .—
In terest.
(S ee
C a p ita l s to c k
($30)
See te x t .
(2 0 0 ,0 0 0 sh s. 1 .............
t e x t _________________________
T r u s t c e r tifica te s g o ld 1893 J 8 9 3
4 8 F -A
$5,587?00(iaF e b 1 1943
s u b je c t t o ca ll ($ 1 ,
tax fr c o , p a y a b lo a t P e n n s y lv . C o .
0 00 ) .................................... c p t
fo r In su ra n ces o n L iv e s , & c ., P h ila , T ru a.
T r u s t c e r tifica te s w ere issued b y P e n n sy lv a n ia C o . fo r In s u ra n c e s. & c ..
a n d a re secu red b y p led g e o f P e o p le ’s P assenger R y . s to c k (see th a t co m p a n y
nt
o
In ret,
te s
(13) P h i l a d e lp h ia C it y P a s s e n g e r R y .— A t r 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 A p ril 9 1859. L ea sed t o W e s t P h ila
d elp h ia Paswengor R a ilw a y C o . fo r 999 years fr o m J an . 1 1884 fo r Interest
on b o n d s , $ 2 ,5 0 0 p or y o a r fo r org a n iza tio n a n d d iv id e n d o f $7 6 O n e r sh a re
5
S»
.d
mW« ” ^ (A M
U
S ! “ “ nd<,d“ 4*
Dte In ret. Ots nin Mtu
a . te s u tad n a ritn
STO CK A N D BONDS—
S to c k $ 1 ,0 0 0 ,0 0 0 ($ 5 0 ).........................
7 4 J -j'
(2 0 .0 0 0 X . l
F irst
m o rtg a g e
exten d ed 1 1861
4 J -J
^ 2 00 ' 000 Ja"n 1**1960
l$500) c ............................. c p t /L a n d T it le & T r u s t C o ., T ru s te o
1980
D eb en tu res ($500 & c ) c . c p t / ------5 M -S
100,000 M a r 1 1936
\Interest a t L a n d T it le & T r u s t C o
Phila
R O A D .— T r a c k a g e . 7 .6 7 9 m iles. V . 8 9 , p. 9 1 9 , 1543.
*
1
(14) P h i l a d e l p h i a & D a r b y 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 A p r il 28 1857. L eased tn th e p h ii* .
d e lp h ia C it y P assenger R a ilw a y C o . fo r 999 yea rs f r o i ^ J a n ? 1 *1870h fo r
$8,0 00 p er an n u m an d intorest o n b o n d s. T ra n sfe rre d u n d e r lease nr
P h ila d elp h ia T r a c t io n C o . O c t. 1 1895 t o U n io n T r a c t io n C o ?
of
Dte In ret. Ots nin Mtu
a . te s u tad g a ritn
STOCK A N D BONDS—
S to c k (p a r $ 5 0 )......................... - - — 4 J -J
$ 20 0 ,0 0 0
S ee t « t
4 M -N
l o o 000 M a v ° l 1927
F irst m o r t g a g e -------------c . c p t / ------l i n t , a t L a n d T it le & T r u s t C o
PhV
pJ
R O A D .— T r a c k a g e . 15.657 m ile s.
uas u o ” 1
Pa’
(16)
P h i l a d e l p h i a & G r a y ’ s F e r r y P a s s e n g e r R y .— T r o lle y .
$ 43 ,220 , o r $3 50 p er snare por a n n u m , anu 5 4 9 .4 0 0 , o r $4 p e r sh aro tier
an n u m th erea fter, th o lessee t o p a y all taxes, ru n n in g expenses'
n™ ?
a te d b v P h ila . R a p id T ra n s it C o .
In M a r c h 1903 a b s o r b e d t f c ? S chuvlkM
R iv e r P ass. R y . an d Increased ca p ita l s to c k t o $ 1 ,0 0 0 ,0 0 0
V 7R n S
S to c k : a u t h .,'$ 1 ,0 0 0.00 0 ($ 5 0 ); o u ts ta n d in g , 12,388 s h s .,' a b o u t 82 5 n ,l In '
a t R ea l E s ta to T it le In s . & T r u s t C o . T r a c k a g e 10?80 m lies
Didns
iv e d
(1 6) P h i l a d e l p h i a
T r a c t io n .— A
t r o lle y r o a d .
teaso1
^
r w r r & r rea t
o
° P or’ c o n tI............ { i-
dIn><' S 2 0 ’0 0 0 ’ 000 (p a r * 5 0 ) .
ras
O p e n a c c o u n ts
’83 ' 80 * 8f ' * 4 ' ’90g 9 3 ’ '9J* ’9| ’a'96 and slnco.
U nion P assongor R y ------------------- 8 1 .0 3 1 th an d 19th S treets
i
W ost P h ila d elp h ia P a ss. R y ___ 72.52 22d & A lle g h e n y :
11 ........... 65 33
R id g e A v o n u o P assen ger R y — 15.40 G a th a rin o & B a ln b rid g o S treets A d i)
P h ila d elp h ia & D a r b y P a ss . R y l 5 .6 6 H u n tin g d o n S t. O o n n o ct
17
13th A 15th S tr o o ts ....................... 19.12 K osslor S t. C o n n e c t . .
ja
P h ila d elp h ia & G r a y ’s F o r r y . . . 10.80 R id g o A v e . C o n n e c t . . .
'o o
C o n tin e n ta l P assongor R y ---------11.41 W a ln u t S t. C o n n e c t . .
................ 1 3 3
E m pire P assongor R y --------------- 12.41
_______
P h ila d elp h ia C it y P assongor R y 7 08
T otal o f a l l . . .
33991?
— V 91. p . 397; V . 92, p . 396; V . 93, p . 408; V . 9 7 . p . 9 5 l f v Y o 6 ” p '9 2 5 8
C.
o
F l^ n i n? « T ,nAm'0 0 0 ,0 0 0 * &Uar / T 1994 T
l .’o o o .’o o o J u l y 'l " l 9 3 4
( S l ’0 0 0 ) - ...........c * c p t \ I n t . a t L a n d T l t l o & T r u . C o . . P h ila ., T r u s te e .
„ „ ^ ' 7 B o.nd3. f 0 s u b je c t t o c a ll o n a n y in terest d a te a t 105 an d intorest
u p o n 30 d a y s n o t ic e . A sin k in g fu n d b e g a n a fte r 5 y e a rs : o f $ 1 0 ,0 0 0 p er
a n n u m fo r 5 y o a rs , $ 1 5 ,0 0 0 p er a n n u m fo r fo llo w in g 5 ye a rs a n d $ 2 0 ,0 0 0
p er a n n u m fo r th e ensu in g 15 y e a rs . See V . 7 9 , p . 904
w
R O A D .— T r a c k a g e fr o m in te rs e ctio n o f W e a v e r S t. o r C h e r r y L a n e w ith
M o n tg o m e r y C o u n t y lin e t o W illo w G r o v o P a r k , 14.8 11 m ile s .— V . 7 9 ,
p* yU4; V • o l i P i «j2 .
°
(1 8 ) R i d g e A v e n u e P a s s e n g e r R y .
#v ° § S A ^ a ^ T I O N . —- C o n s o lid a tio n o f G ira rd C o lle g e P a ssen ger R v . a n d
-,
t h o R l d g o A v o n u o & M a n a y u n k P assen ger R y . o n M a r c h 8 1872. L e a se d
b ila d e lp h ia T r a c t io n C o . fo r 9 99 y e a rs fr o m S e p t. 1 1S92 f o r d iv id e n d
o r $ 10 p e r sh are p e r a n n u m t o S e p t. 1895 an d $12 p e r sh are t h e r e a fte r .
O p e r a to d b y P h ila . R a p . T r a n s it C o .
perThM <P paFd?uh ° riZed
aQd
outabandin8-
$ 7 5 0 ,0 0 0
($ 5 0 );
about
$28
O n a c c o u n t o f s o m o o ld d e b ts , d iv id e n d s fo r 1896 w ore c o n tin u e d a t $ 10
p ®f 8baro ^nstoad o f th e $12 as n o te d a b o v e .
In 1897 d iv id e n d s w ore in
creased t o $12 p o r sh a re.
T ra ck a g e 1 5 .4 0 m ile s.
(19) S e c o n d & T h i r d S t r e e t P a s s e n g e r R y .
,.
-— I “ co n o o ra te d A p r il 10 1858. L e a se d J a n . 1 1893
f^uti 10iF r a n k fo r il.'& § 0l}i'h,v£arK P a ssen g er R a ilw a y C o . fo r 999 yea rs fo r th e
*n 8 K uarautood d iv id e n d s p o r sh a re p e r a n n u m :
1893.
1 894-95.
1 896-97.
1 89 8 -9 9.
1900.
1901.
1902 & a fte r .
j* 9 ,
,
See be lo w
$10
$10 50
$11
$12
rnrD «o fi
?,udt l 89Z
*0 bQ S9 50 per a n n u m , b u t th o d iv id e n d
arm fo r th e fir s t h a lf o f 1897 w as < ti t o o i < te ui .jvf p er jjiiaro lnstGaa
a th ra u o f $9 per sharo Instead
~
*L
h
o r $9 5 0 . th e b a la n c e Lein# a p p lie d t o th e p a y m e n t o f th e d e b t o f $ 2 7 ,0 0 0
In cu rred ’ fo r p a v in _ . V . 6 2 , p . 785. T h e fu ll $12 por a n n u m , h o w e v e r .
______ g
has been p a id s in ce .
T h is ; leaso w as assu m ed b y E le c tr ic T r a c t io n C o . J u ly 1 1893.
S to c k Issued, 2 1 .2 0 4 shares (p a r $ 5 0 ): $ 7 7 1 ,0 7 8 p a id In.
& N in e t e e n t h S tr e e ts P a s s e n g e r R y .
O R G A N I Z A n O N . — I n co r p o ra te d A p r il 12 1859. L e a se d to th e C o n t i
nrmP^ 0nger
£ 2 ’ f o r , 99 y ears fr o m J u ly 1 1879 a t a re n ta l o f
$ 1 5 ,0 0 0 p e r a n n u m , be in g 3 % o n 10,0 00 shares (p a r $ 50 ) s t o c k , Intorest o n
b
, ° u d 8 - ^ P S ' l s o s & c . T ra n s fo rro d u n d er lease o f P h ila d e lp h ia T r a c O c t . 1 1895 t o th e U n ion T r a c t io n C o .; a ll righ ts o f th e P h ila d e lp h ia
■traction C o . t o d iv id e n d s o n th e 10,000 shares o f th e 17th & 19th S treets
r o a d , w h ich w oro th e n h o ld b y th o U nion P assongor R a ilw a y C o . as tru s te e
C on tin en tal^ P a ss & y t£ ansforred t o th o U n ion C o . S to c k all o w n e d b y
R
Dle In ret. Ots nin. Mtu .
a . 3 te s u tad g a rity
J-J
f 1 9
STOCK A N D BONDS—
S to c k (par $50)............................. .
110,0 00 sh s. 1
See te x t
l $25 p a id
Firat m o rtg a g e ($ 50 0 ) e x t e n -f 1876
5 J -J
*iu u ,u u u j u tly 1 i i>
$ 1 0 0 ,0 0 0 J u y
1919
d e d -------------------. . . . c . c p t l l n t . a t L a n d T it le & T r u s t C o .. P h ila .. P a
S R e. l ? J309.,fo r a d d itio n s J u n e 30 1 91 7 , $ 5 5 4 ,2 8 9 .
,
R O A D .— I r a c k a g o 13.80 m ile s.
o
r
7er i ! r
Fi.f t e e n t h S t r e e t s P a s s e n g e r R y .— A t r o lle y r o a d .
r I O N .— in c o r p o r a te d A p r il 8 1859. L eased J a n . 1 1892 t o
I h lla d olp h ia T ra ctio n O o . fo r fo llo w in g re n ta l: F ro m J a n . 1 8 9 2 t o J a n . 1894.
ToftS0 ® , , 1
u’° p Vr a n n u m ; 1894 t o J a n . 1897. $ 10 p er sh are; 1897 t o J an .
t o t l l a t t ? 6 o n o a OIl 1 8 9 5 .1900 S12 P ° r 8har0'
L ° a3e tra n a ferrod
Dte In ret. Ots nin. Mtu
a . te s u tad g a rity
$ 12 J -J $ 3 3 4 ,5 2 9 p d . In. See t e x t
S to c k $1 0 0 0 ,0 0 0 (p a r $ 5 0 )..................
C on sols 1 ($ 5 0 0 .0 0 0 )----- i . c . c p t 1894 5 & 3 H J -J
$ 1 3 6 ,0 0 0 J an 1 1 9 3 4
R e a l os ta to m o r tg a g e s ____ c p t ...............................
5 5 3 )0 0
T h e co n s o ls are g u a r a n te e d , p rin . an d In t., b y th e P h ila . T r a c t io n " C o .an d th e co u p o n s are p a y a b lo tax fre e : $ 3 6 ,0 0 0 o f those are 3 > *s a n d w ore
exch a n g e d fo r o ld 7 % b o n d s o f lik e a m o u n t d u e O c t. 1 1903. V . 7 7 . p . 695
In te re s t a n d d iv id e n d s are p a y a b le a t o ffic e o f th e F id e lity T r u s t O o ..
th e tru stoe o f b o th m o rtg a g e s .
D iv id e n d In J u ly 1895, $5 p e r share; t h e J a n . 1896 d iv id e n d w as n o t p a id
t o p a y m e n t o f c i t y ’s cla im fo r p a v in g . V . 6 1 . p . 1155. In J u lv
l i o n P« H M P «r sh a re; in 1897 $ 10 50 p e r sh are; in 1898? $11 p e r sh a ro ; in
1899. $11 p e r sh are: in 1900, $11 oO p e r sh are; 1901-1907. in c h , $12 p er
•hare p er a u n . In 1908, J a n ., $6; J u ly , 3 6 . an d $1 e xtra (p a id o u t o f a c c u m u
I 999 a n d s in co , $12 por share p er a n n u m .
R O A D .— T r a c k a g e 19.121 m ile s . V . 7 7 , p . 6 9 5 ; V . 8 6 . p . 1531.
V P rR P . P a s s e n g e r R a i l w a y .— T r o lle y r o a d .
^ n P f A T ^ N -— In co r p o ra te d A p ril 8 1864. L ea sed t o P h ila d e lp h ia
T r a c t io n C o . fo r 999 y ea rs fro m Ju n e 3 0 1884 a t an a n n u al re n ta l o f $285 0 0 0 .
nr $9 50 p er share o n s t o c k , a n d in te re st, ta x e s.
T h e r e are o u ts ta n d in g
3 0 .0 0 0 shares ($ 1,5 0 0 ,0 0 0 ) o f s to c k , o n w h ic h $ 30 8 3 1-3 has b e e n p a id in
o n e a ch 8h ar(3’ o r a to ta l o r $ 9 2 5 ,0 0 0 . S to c k is c o n sid e re d fu ll p a id .
$ 3 0 2 ,3 0 0 o r th e s to c k Is o w n o d b y th o P h ila d e lp h ia T r a c tio n C o .
Its le a s e
o f th o C o n tin e n ta l P assenger R y . w as a ssign ed t o th o P h ila d e lp h ia T r a c t io n
S ? ' anO fro m O c t. 1 1895 t o M a y 1 1902 o p e ra to d b y th e U nion T r a c t io n O o .
.r , ‘ " U nion P assongor R a ilw a y C o . Is s till h o ld in g , as lessee an d tru s to e .
6 .1 0 0 shares E m p ire Passongor R y . s to c k a n d 10.000 shares o f 17th
19th
S troots P asson gor R y .
S.
ic
&
Dte In
a . trest. Ots nin. Mtu .
u tad g a rity
See te x t .
See t e x t.
S to c k $ l,o 0 0 ,0 0 0 (p a r $ 5 0 ) - . . ------- $9 5 0 J -J
P1^
m o rtg a g e ($100 a n d ! 1881
4 A -O
$ 5 0 0 ,0 0 0 M a r 31 1961
*000) . . . ..................C .c p t i P e n n sy lv a n ia Co. fo r In su r. o n L iv e s . T r u s .
m o rtg a g e ($100 an.I\ 1884
4 A -O
2 5 0 .0 0 0 M a r 3 1 1 9 6 0
5 j OU)---------------------------c . c p t J In t. o n b o th loans a t L a n d T . & T . C o .. P h il.
D u o lessee c o m p a n y fo r a d d itio n s J u n e 30 1917. $ 6 ,0 5 5 ,7 0 $ .
T he 1st m tg o . b o n d s w ere o r ig in a lly 5s and m atu red M a r c h 31 1911, bu t
in J a n . 1911 a rran gem en ts w oro m ad e w ith D re xe l & C o .. P h ila ., to p u r
ch a s e th e b o n d s , an d th e y w oro o xto n d e d f o r 50 years a t 4 % w ith o u t o p t io n
‘ q ? ’1 m A9?.’ ►r h o 2d M ’
o f 1884 w oro fo rm e rly 5 s. a n d m a
tu re d M a r . 31 1910, b u t w ore e xte n d e d fo r 50 years a t 4 % w ith o u t rig h t o r
saSSHiSkJ-9>pile2 ' VL9n, pTt &.TiZ p°°-hs b0
0 <6s.— . a2d .I190; V r jt . 9 2 5 .a 0n
8
le 106,
R O A D .— T r a c k a g e , 8 1 .0 3 m
(2 3) W e s t P h i l a d e l p h i a P a s s e n g e r R y .— T r o lle y .
fo
r
U n d er lea soV d iv id on d s o f 8 % are gu a r a n te e d . V . 6 1 . p . 6 63 ; V . ? 3 ? p ?2 8 8 *
R O A D .— " | o system assignod t o th o U n ion ~ r a c tJon O o . :
Th
T
io n C o
‘
|
*
J
3 3 2 .0 4 m iles, c o n sistin g o f th o ^ fo llo w in g “ P assenger Railways'” f * 8 4 d
R a ilw a y s
i
(17) P h i l a d e l p h i a & W i ll o w G r o v e S t r e e t R a i l w a y C o .
O R G A N I Z A T I O N .— Is a co n s o lid a tio n in 1904 o f th e P h ila . & W illo w
^ trO0tL ? k’ aJJ.d Ijbo G le n s id e & W illo w G r o v e S treet R y . E n tir e
s to c k is o w n o d b y th e U n io n T r a c t io n C o . T h e P h ila . R a p . T r a n .
^ p aran te o s^ th e b o n d s , p rin . a n d in t ., b y e n d o rs e m e n t. See g u a r a n ty ,
18 ■
57
t h P m u K ^ u Z m T f i ? N ; 7 ' rn^ rp,ora^ <xl M a y 14
L eased J a n . 1 1884 t o
ad o ph l.a T ra ctio n O o .
999 ye a rs a t an a nnu al ren ta l o f $ 1 5 0 ,0 0 0 .
o r 2 0 % o il s t o c k , a n d in te re s t, ta x e s, & c .; tran sforrod O c t . 1 1895 t o U nion
000C to c k °°‘
s
r h ° 1 h ila d o lp h la T r a c t io n O o . ow n s $ 3 9 2 ,9 5 0 o f th e $ 7 5 0 ,-
th o secu rities o w n o d w oro assignod t o th o U n io n C o ., w h ich
liab ilities fo r re n ta ls. & c .
*
lch a s s u m e all
Juno°30 *1917*$iM 2 °l?9 “
97
Dle In ret. Ots nin. Mtu .
a . te s u tad g a rity
BONDS—
Wirst 2m ot 5 ^ ge .T $ r i - 0 0 j; - - - - 7 754,1
L L
* 7 5 0 .0 0 0 . See t e x t "
F i * 1 rtga Y V T ,0 nn
1876
3 .4 A -O
2 46 ,00 0 A p ril 1 1958
g o l d . ................................ c . c p t G ira rd T r u s t O o . , P h ila d e lp h ia . T r u s te e .
S e co n d m tg e ( 5 1 , 0 0 0 ) . c . c p t
1886
5 M -N
7 50 .00 0 M a y 1 1926
F ree fr o m ta x .
P e n n sy lv a n ia C o . fo r In s . o n L ive s & G ran t„
.
T ,
,
^
,
in g A n n u itie s. P h ila . P a .. T r u s te e .
In terest on b o th loans p a y a b lo at L a u d T it lo & T r u s t C o ., P h ila d e lp h la . P a . T h e firs t m o rtg a g o 6s m a tu re d A p ril 1 1906 b u t w o r e e x te n d e d
fo r 50 yea rs a t 3 4 % .
D u o lessoe fo r a d d itio n s t o J u n e 30 1917, $ 2 ,5 0 9 ,1 4 0 .
R O A D .— T r a c k a g e , 7 2 .5 1 8 m ile s .— V . 106. p . 9 25.
Bns
od.—
F a c l P n In
innia la .— t.
IN T E R -S T A T E R A IL W A Y S .
d u o F e b . a n d A u g . 1909 w as p a id a fte r so m e
d o la y .
V . 8 8 , p . 1127, 1197: V . 8 9 . p . 3 4 8 , 1141. O n N o v . 25 1 9 1 0 s h a ro h old ors ra tifie d th e re a d ju stm e n t p lan (V . 9 1 . p . 1385. 1512) c a llin g fo r th e
lssuo o f $ 1 ,0 0 0 ,0 0 0 6 % c u m . p rof, s to c k , sh a reh old ers t o tak e $500 0 00 as
p a r fo r cash (p a y a b le in 5 Installm en ts o f 2 0 % e a ch a t Intervals o f 30 d a y s .
p a y wa n ’ 2 a n d e n d in g A p ril t 1 9 1 1 ), an d b o n d h o ld e rs
to tak o $ 5 0 0 ,0 0 0 a t par in lieu o f 1910 a n d 1911 c o u p o n s o n b o n d s . V . 9 1 ,
p . 1711; V. 9 2 , p . 59. E n tir e Issue was su b scr ib e d an d ta k e n . V . 9 2 . p . 1032,
— T h e leasing o f the u n d e rly in g c o m p a n ie s
w as co u su in m a to d In 1910 u p o n s a tis fa c to r y te rm s. T h o sub sid iaries a re
& m ) u r i ? ro u p R’ ' VMkl,s: u ar,r
.,!' H i d i n g , T r e n to n and W ilm in g to n . T h e
W llk o s-B arro R y s . C o ., th e R o a d ln g T r a n s . C o . (s u cce e d e d b y R e a d . T r a n s .
Lae o Cn o dP prtie.
ess f otr lle roe s
[Vol. 106
E L E C T R IC R A IL W A Y S
98
& L ig h t C o . in M a r . 1 913, c o n tr o l o f w h ic h w as a cq u ire d b y E a s te rn P o w o r
& L ig h t C o r p .) , th e T r o n to n & M e r c e r C o u n t y T r a c t io n C o r o . , ‘th e S ou th orn
P e n n sy lv a n ia T r a c t io n a n d th e W ilm in g to n & P h ila d e lp h ia T r a c t io n C o .
w ere fo r m e d t o ta k e o v e r th e va rio u s p ro p e r tie s . V . 9 1 , p . 1512; V . 92, p .
2 01 . S ta tem en ts fo r th ose co m p a n ie s w ill b o fo u n d r e s p e c tiv e ly un der
W ilk o s -B a r re , R e a d in g , T r o n to n a n d P h ila d e lp h ia .
T h e a gg rega te a n n u al in c o m e u n d e r th e a b o v e leases Is as fo llo w s (b u t
see rem a rk s b e lo w ):
1 9 1 8 _________8 7 5 8 ,5 4 2 1 1 9 2 2 ____________ $ 79 8 ,5 4 2 11 9 26 a n d th e re a fte r an 19 19 ................ 7 6 8 ,5 4 2 1 1 9 2 3 ................... 808,5421 n u a lly
$ 830,000
1 9 2 0 ....
7 7 8 ,5 4 2 1 1 9 2 4 ..................... 8 1 8 ,54 2 ]
1 9 2 1 ................ 7 8 8 ,5 4 2 1 1 9 2 5 ..................... 826.0431
F e Cagst B PidOto Aoet.en l P sAyath.rInoo.l.
ixd hr e o e a u f bInRn lu nTxs cTe
v ota
Oe m
e
ta
In te r -S ta t e R a ilw a y s _________________
U n ite d P o w e r & T r a n s p o r t a t io n ______
4 s.
$ 4 3 1 ,0 6 4
2 6 2 ,1 3 6
$ 3 ,1 4 5
3 ,2 9 7
$ 43 4 ,2 0 9
2 6 5 ,4 3 3
Nte
o
Dfalt inRn l—iv e dPse
e u e ta Didn asd
&
T o t a l ...........................................................
$ 69 3 ,2 0 0
$ 6 ,4 4 2
$ 69 9 ,6 4 2
.— T h e a b o v e fig u re s d o n o t in c lu d e th e F e d e ra l in c o m e t a x , w h ich
m u s t b e a d d ed th e re to .
.— F a ilu re o f th o T r e n to n & M e r ce r
C o u n t y T r a c . C o . t o p a y its re n ta l, d u e t o in cre ase d o p e ra tin g expen ses,
res u lted in tho om ission o f th e J an . 1918 d iv . o n th o p re f. s to c k . See V . 106,
p . 189. T h o T .
M . C o . T r a c . C o r p . w as in A p ril 1918 g r a n te d a fu r th e r
exten sion t o J u ly 1 1918, in w h ic h t o p a y th e p a s t .d u e re n ta l (V . 106, p .
1 462, u n d er U . P . & 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 N o w J e rs e y o n D e c . 4 1902 w ith
v e r y b r o a d p ow er s. Is e m p o w e re d t o p u rc h a s e , a c q u lr o , d e v o lo p a n d c o n
s tr u c t str eet ra ilw a y s , e le c tr ic lig h t a n d p o w e r , w ater .and g a s co m p a n ie s.
In D o c . 1902 o b ta in e d c o n tr o l o f th o U n ited P o w e r & T r a n s p o r ta tio n C o .
th ro u g h p u rch a so o f th e o u ts ta n d in g ($ 3 ,5 9 3 ,7 5 0 ) c a p ita l s t o c k , o n a basis
o f $ 75 fo r each $ 25 s h a re, p a y a b lo in co lla te r a l tru st b o n d s . $ 3 ,5 9 2 ,2 0 0 of
this s to c k was exch a n g ed fo r b o n d s o n this basis.
O n A p r il 23 1915 s to c k h o ld e r s a p p r o v o d th o Issuance o f n e w , Irredeem able
p referred s to c k in ex c h a n g e fo r th o o ld p r e f. s to c k .
V . 100, p . 1592.
U n d er a su p p lem en ta l a gre e m e n t d a te d J u ly 26 1917 b e tw e e n th e In te r
s ta te R y s . C o ., U n ited P o w e r & T r a n s p o r ta tio n C o . a n d R e a l E s ta te T it le
In s u ra n c e & T r u s t C o ., th e o u ts ta n d in g a m o u n ts o f U n ited R a ilw a y s and
D e la w a re C o u n t y R y . g o ld tru st ce r tific a te s (see U n ite d P o w e r & T ra n s
p o r t a tio n C o . b e lo w ) w ore re d u c e d a n d s o m e o f th o c o lla te r a l p led ged
th e re fo r w ith d ra w n . C o m p a r e V . 103, p . 2 23 8 : V . 105, p . 7 1 6 . T h e cash
r e c e iv e d b y tho In te r s ta te R y s . C o . fr o m the salo o f s o m e o f th e w ith d ra w n
c olla ter a l has been in v e s te d . V . 106, p . 8 6 .
STO C K A N D BON DS—
C o m $ 9 ,0 0 0 ,0 0 0 ($ 1 0 0 ).......................
................
$ 2 ,2 9 1 ,2 0 0 f . p ...................
P r e f $ 1 ,0 0 0 ,0 0 0 ($ 10 ) 6 % c u m ------J -J
1 ,0 0 0 .0 0 0
S e o te x t.
C o lla te r a l tru st g o ld $10,-1 1903
4 g F -A
1 0 ,7 7 6 ,0 0 0 F e b 1 1943
7 8 1 ,2 5 0 ___________________ c * j I n t . a t R e a l E s t . T it le In s . & T r . , P h ila ., T r .
— C o m . s to c k w as listed o n th o P h ila d e lp h ia S to c k E x ch a n g o in
A p r il 1903. V . 9 2 . p . 1243; V . 9 3 , p . 164. $ 83 1 ,5 8 0 o f th o o ld preferred
s to c k h a d been e x c h a n g e d fo r th e n ew u p t o D e c . 31 1917.
a re d a te d F e b . 1 1903 a n d are se cu re d b y d e p o s it o f U n ite d P o w e r
& T r a n s p o r ta tio n s to c k . T h o y b e ar 3 % Interost th e fir s t y e a r , 3 H % th e
s e c o n d a n d 4 % th e th ird a n d s u b se q u e n t y e a r s . D e n o m in a tio n s $ 10 0 ,
$ 500 a n d $ 1 ,0 0 0 . A re s u b je c t t o ca ll a t 105 and in t. o n 30 d a y s ’ n o tic e .
.— In itia l d iv . on p r e f.— 3 % — p a id J u ly 1911: sam e rate som la n n u a liy t o and in el. J u ly 1 917. J a n . 1918 d iv . o m itte d (see V . 106, p .1 8 9 ).
R E P O R T .— Y oa r e n d in g J a n . 3 1 F isc a l
F ea r—
$ 43 1 ,0 6 4
$ 1 6 ,4 3 9
$ 3 0 ,0 0 0
$41 ,61 3
1 9 1 7 - 1 8 ............... $ 51 9 ,1 1 7
1 916-17 ............... 5 9 2 ,02 1
4 3 1 ,0 6 4
8 ,6 8 7
6 0 .0 0 0
9 2,2 70
O F F I C E R S .— ’P r e s ., J o h n A . I lig g : V . - P . . W a lte r A . R ig g ; T r o a s ., T . W .
G r o o k e t J r .: S ec. & A s s t. T r e a s ., J. W . G o o d w in .
O ffic e , 411 M a r k o t S t.
C a m d e n , N . J .— V . 106, p . 8 6 , 189. 4 9 9 , 9 2 4 , 1036, 1461.
Dle In ret. Ots nin. Mtu
a . te s u tad g a rity
S c.
tok
Bns
od
Didns
iv e d
Fsm te
Cl. Ya Inetms Inn s
a e r vro 't . oret,
O e o tk
San.d Tt.re..
hws . SaS
re h s
S cs
tok
—
5 ,9 9 3
6,000
D e la w a ro C o u n t y & P h ila d e lp h ia E le c tr ic R y ------------------L e b a n o n V a lle y S treet R y . G o ---------------------------------------------9 ,9 9 2
1 0,000
M e d ia G len R id d le & R o c k d a le E le c tr ic S treet R y _______
1,6 3 2
1,640
R e a d in g & S ou th w estern R y ------------------------------------------------1,117
2,6 0 0
R o x b o r o O h ostn u t H ill & N o r r is to w n R y . C o ------------------4 ,9 3 9
4,9 6 8
S ch u y lk ill V a lle y T r a c t io n C o .................................
9 .9 9 5
10,000
2 0,0 00
T r o n to n S treot R y -------------------- - ----------------------------— ---------- 1 9,9 69
T r e n to n T r a c t io n C o ________________________ - - - - - ______ - __
17.8
20
W ilk e s -B a r re
W y o m in g V a lle y T r a c t io n ------------------------- 4 9 ,9 9 2
5 0,000
W ilm in g to n & C h ester T r a c t i o n . - -------------------------3 9 ,9 9 5
4 0,0 00
W ilm in g to n C it y E le c tr ic ______________________
5 ,0 9 5
5 ,1 0 0
W ilm in g to n & G r o a t V a lle y T u r n p ik e C o --------------------------978
1,040
W ilm in g to n
P h ila d elp h ia T u r n p ik e --------------------------------1 ,0 3 5
1,200
W ilm in g to n
C h ristia n a T u r n p ik e C o ------------------------------6 44
680
STOCK & BON DS
a u t h ., $ 3 ,5 9 3 ,7 5 0 ; shares $ 2 5 , fu ll p a id . In
M a r . 1902 ou ts ta n d in g s to c k w as in creased fr o m $ 3 ,1 2 5 ,0 0 0 t o $ 3 ,5 9 3 ,7 5 0
( V . 7 4 , p . 6 8 2 ). th o a d d itio n a l shares b e in g s o ld t o s to c k h o ld e r s a t $35 per
$ 25 s h a re.
4 % c o ll, tru s t c e r tific a te s , are In t w o sories, w h ich w o
• h a v e m ark ed (a) a n d (6) b o lo w . [S to c k a n d b o n d s liste d o n P h ila d e lp h ia
S to c k E x ch a n g e d
.
(а) U n d er a tru st a gre e m e n t b e tw o o n th o U n ite d P o w o r & T r a n s p o r ta
tio n C o . a n d th o N o w Y o r k T ru st C o ., tru ste e , d a te d M a y 1 1899, a n d a
su p p lem en ta l a greem en t d a te d J u ly 26 1917 se cu re d b y d e p o s it w ith trustee
o f $ 5 ,5 9 5 ,0 0 0 U n ited R a ilw a y s g o ld tru st ce r tific a te s , 19,953 shares T r o n to n
S troet R y . C o ., 3 9 ,9 9 3 shares W ilm in g to n & C h e ste r T r a c t io n C o ., 5,089
sharos th e W ilm in g to n C it y E le c tr ic C o . a n d 4 9,911 shares th e VVIlkesB arro
W y o m in g V a lle y T r a c t io n C o .
P u rsu a n t to th e su p p le m e n ta l
tru st a greem en t d a te d J u ly 26 1917, th e a m o u n t o f o u ts ta n d in g ce rtifica te s
w as red u c e d fro m $ 7 ,9 2 8 ,8 0 0 t o $ 5 ,5 9 5 ,0 0 0 b y a c q u is itio n b y th e c o . an d
s u b seq u en t c a n c ella tion o f $ 2 ,3 2 3 ,0 0 0 th e r e o f th ro u g h th o sale o f certa in
assets p led ged as s e c u r ity th e re fo r as fo llo w s : 79,991 shares o f th e U nited
T r a c t io n C o . o f R e a d in g an d 3 5 ,8 0 0 shares o f th e E d is o n E le c . Iliu m . C o .
o f L e b a n o n , P a ., w h ic h , to g o th e r w ith th o rem a in in g shares o f said c o s .
in th e trea su ry, w ere s old fo r a co n sid e rta lo n o f $ 1 ,2 5 0 ,0 0 0 p a r v a lu o U n ited
R a ilw a y s g o ld tru st c e r tifica te s a n d $ 2 ,7 6 0 ,0 0 0 ca s h ; 1 ,1 2 5 shares o f R e a d
ing & S ou th w estern S t. R y . , 4 ,9 2 5 shares o f lt o x b o r o u g h O h o stn u t H ill &
N o r r is to w n R y . a n d 14,992 sharos o f I lo lm e s b u r g T a c o n y & F ra n k fo rd
E le c tr ic R y . (s old u n d er fo re clo s u re in 1910 a n d re o rga n iz e d w ith n o reali
z a tio n on its ca p ita l s to c k — see F ra n k fo rd T a c o n y & I lo lm e s b u r g R y . b e
low ) w ere also w ith d ra w n fro m co lla te ra l fo r th e trust ce r tifica te s and are
h old In c o m p a n y ’s tre a su ry .
T h o ca sh r e c e iv e d b y th e c o m p a n y w as
in v e ste d in U nited R a ilw a y s an d D e la w a ro C o u n t y , R y . g o ld tru st ce r
tific a t e s . V . 106, p . 8 7 .
.
(б) $ 95 8 ,4 5 0 D ela w a re C o u n t y R y . g o ld tru st ce r tifica te s u n d or a trust
a greem en t betw een th e U n ite d P o w e r & T r a n s p o r ta tio n C o . and th o R eal
E s ta te T it le In su ra n ce & T r u s t C o . o f P h ila ., d a te d M a y 1 1 899, a n d s u p
p lem en ta l a greem en t d a te d J u ly 26 1917, u n d er w h ich th o U nited P o w e r &
T r a n s p o r ta tio n C o . has d e p o s ite d w ith th o said trust c o m p a n y , as tru stee,
5 ,9 9 3 shares D ela w a re C o u n t y & P h ila d e lp h ia E le c . R y . C o . U n d e r s u p
p lem en ta l a greem en t d a te d J u ly 26 1917 the a m o u n t o u ts ta n d in g w as re
d u c e d fr o m $ 99 8 ,9 5 0 t o $ 95 8 ,4 5 0 a n d 1 ,1 2 5 shares o f R e a d iu g & S o u th
w estern S t. R y . s to c k a n d 4 ,9 2 5 shares o f R o x b o r o u g h C h e s tn u t H ill &
N o r r is to w n R y . s to c k w ere w ith d ra w n fr o m co lla te r a l. V . 106, p . 87.
T h e p rin c ip a l o f b o th series (w h ic h aro In $ 10 0 , $ 500 an d $ 1 ,0 0 0 p loces)
la d u e a t o p t io n o f h o ld e r o n J u ly 1 1949 an d th e re a fte r o n a n y J a n . 1 or
J u ly 1 a t th o o p t io n o f th o U n ite d P ow er & T r a n s p o r a tio u C o . F o r b o th
series, a ls o , th o s em i-a n n u al Interest (J . & J .) a n d th o p rin c ip a l are p a y a b le
In g o ld c o in , free o f t a x , a t th e o f f i c e o f th e R e a l E s ta te T it le In su ra n ce &
T r u s t C o . o f Eh lla d e lp h la , tru s te o .
’
D I V I D E N D S .— O n J a n . 20 1900 a d iv id e n d o f 5 0 c . p er share w as p a id ,
a ls o s am o a m o u n t J u ly 16 1900; in 1901. J a n . 2 1 , $1; J u ly 10, $1; In 1902,
J a n . 2 0 , $1; J u ly 10. $1; In 1903, J a n . 2 0 . $ 1 ; in 1904, J a n . 16. $2 66; in
1 905. J a n . 2 4 , $2 3 9 ; in 1906, J a n . 2 6 . $3 10: in 1907. J a n . 2 4 . $3 20; in
’ 9 0 8 . J a n . 30. $3 3 1 ; n on e t o J u ly 1 911, w h en $ 1 .1 0 w as p a id ; In 1912, J a n .
3 0 . $ 1 4 0 ; J u ly 2 9 . $ 1 4 1 ; In 1913, J a n ., $ 1 7 9 ; J u ly , $ 1 2 6 . In 1914,
J a u ., $1 5 2 ; J u ly , $1 4 0 . In 1 915, J a n ., $1 5 4 ; J u ly . SI 3 4 .
In 1016.
J a n ., $1 55; J u ly , $1 4 3 . In 1917, J a n ., $1 55; J u ly , $1 2 3 . In 1918,
J a n .: $1 32.
S
c
S
c
S
c
.— c
Sk
lo
Bns
od,
S
c
Didn SD idd.
ivae.d u iva s
. r
Pid rp fte
S
c
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od
S k ofu do
inin n f
Didns
iv e d.
F R A N K F O R D T A C O N Y & H O L M E S B U R G R Y . — A tr o 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 sy lv a n ia on J u ly 11 1910 as a r e
o rg a n iza tio n o f th o Ilo lm e s b u r g T a c o n y & F ra n k fo r d E le c . I t y . , s o ld at
fo re clo s u re J u n e 1 1910. F o r term s o f o x c h a n g e o f b o n d s o f o ld c o m p a n y
fo r n ew c o m p a n y b o n d s , see V . 9 1 . p . 2 7 6 .
p o rp e tu a l.
STO C K A N D BONDS—
S to c k $ 5 0 0 ,0 0 0 ( $ 5 0 ) . ............. - .................................
$ 50 0 ,0 0 0
.......................
F irst m o rtg a g e $ 50 0 ,0 0 0 g o l d ? 1910
5 g J-J
4 0 0 .0 0 0 J u ly 1 1940
($500 a n d $ 1 ,0 0 0 )____ c * t f \ I n t . a t T a c o n y T r u s t C o .. P h ila ., tru steo.
.— R e m a in in g $ 1 0 0 ,0 0 0 b o n d s a re reserv ed Tor e xte n sio n s a n d b e t
te rm e n ts. B o n d s a re n o t s u b je c t t o c a ll. T h o y aro Ilatod o n P h ila . S to c k
E x ch a n g e . V . 9 3 . p . 105.
„ ,
_
—
—
1 917..........................................$ 15 9 ,7 2 0 $ 2 4 ,0 3 3 $ 2 0 ,00 0
$ 4 ,0 3 3 $ 2 ,9 9 1 ,7 2 8
1 916......................................... 1 5 2 ,81 9
4 1 ,3 0 6
2 0 ,0 0 0 2 1 ,3 0 6
2 ,9 0 0 ,5 8 5
1 91 5 .........
147 ,50 7
3 8 ,1 3 9
2 0 .0 0 0
1 8,1 39
2 ,8 1 4 .5 8 5
R O A D .— O p erates 17.2 9 m iles o f tra ck b e tw o o n P h ila d e lp h ia , F r a n k fo r d .
B rid o sb u rg , T a c o n v , I lo lm e s b u r g a n d T o rr o s d a lo , o f w h ich 1 m ile (in P h ila .)
Is lo a so d . 6 0 -lb . T a n d 8 0 -lb g ird o r ra ils. G a u g e 5 f t . 2>£ In. 28 m o to r
ca rs , 14 tra il ca rs a n d 7 m is c. ca rs . H as o p e r a tin g a gre e m e n t w ith T r o n to n
B risto l
P h ila . S t. R y . fo r m u tu a l o p e r a tio n o n each o t h e r ’s lin os fr o m
F ra n k fo r d t o B ris to l.
„
.
„
„
_ _ _
,
O F F I C E R S .— P res, a n d M g r ., M e y e r , S ch a m b e r g ; V .- P ., O . B . F r a le y ;
S e c.
T r e a s ., P a tr ic k G r a n t.— V . 9 5 , p . 1 331; V . 98 . p . 4 5 3 .
F nh e
rac is
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
re
la e o d
RTta . CInTss Ea.eA Didrres Sa ns, Bns
eo ts o terut. Txs P fend Brpc
cip
el
ll. ret tp . iv e d. u lu
El. ina
a Ygr
Crn es
a
U N IT E D P O W E R & T R A N S P O R T A T I O N C O .— E le c tr ic r o a d s .
In c o r p o r a te d A p r il 20 1899 u n d er N o w J e rs e y law s t o c o n s t r u c t, d e v e lo p
a n d o w n str oet ra ilw a y s , p o w o r c o m p a n ie s , & e ., a n d d o a g en era l business
(V . 6 8 . p . 9 2 9 ).
In D e c . 1902 s to c k w as a cq u ire d b y In te r -S ta te R y s . C o .,
w h ich see im m ed ia tely a b o v e .
O n D e c . 31 1917 o w n e d th e fo llo w in g s to c k s a n d b o n d s . W o s h o w also
th o to ta l a m ou n ts ou ts ta n d in g o f e a ch issue.
TAs
ae..
xc
R E P O R T .—
—
4 s.
$ 32 9 ,6 1 3
$ 45,831
$36 6 ,5 6 3
$236
1 9 1 7 ____________ $ 7 4 2 ,2 4 2
1 9 1 6 - - ............ ... 8 2 1 ,5 6 4
3 5 6 .6 7 6
3 5.5 93
4 2 8 ,3 7 5
920
O F F I C E R S .— P r e s ., J o h n A . R ig g ; V .- P ., VValtor A . R ig g ; T r o a s ., T . VV.
G r o o k e t J r .; S e c. & A s s t. T r e a s .. J. VV. G o o d w in ; C o u n s e l, R . L . J o n e s .
G en era l o f f ic e s , 411 M a r k o t S t ., C a m d o n , N . J .— V . 106, p . 5 0 0 , 6 08 , 9 2 5 ,
1462.
______
_
M U N IC IP A L 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 M a in e in M a r c h 1912 t o b u y , soil a n d
o p e r a te p u b lic u t ilit y p r o p e rtie s . In M a r c h 1917 a c q u ir e d c o n tr o l o f th e
C itiz e n s T r a c t io n C o . (w h ic h see u n d er “ O il C it y , P a .” ) .
In M a y 1917
a cq u ire d th e Y o u n g s to w n
S u b u rb a n R y . C o . (w h ich soe u n d er Y o u n g s
t o w n , O h io) b y e xch a n g e o f s to c k a n d b o n d s , as per o ffe r in V . 1 04, p . 2 2 3 5 .
A ls o c o n tr o ls th ro u gh s to c k o w n e rsh ip th e C h e ste r V a lle y E le c tr ic C o .
C o a te s v IIlo , P a .) . S alem (O .) L ig h tin g C o ., A lexan d ria C o . (V a .) L ig h tin g
C o ., S ta u n to n (V a .) L ig h tin g C o ., S u m te r (S . O .) L ig h tin g C o . a n d V a l
d o s ta (G a .) L igh tin g C o . T h e p ro p e rtie s are o p o ra te d b y D a y & Z lm rn erm a n n , I n c ., P h ila d e lp h ia .
STO CK A N D BON DS.
C o m m o n $ 2 ,0 0 0 ,0 0 0 ($ 1 0 0 )...............
Q -J
$ 1 ,0 1 0 ,2 0 0 A p r ’ 1 8 ,1 %
P re f cu m 6 % $ 2 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) ____
Q -F
1 ,4 5 2 ,8 0 0 M a y ’ 18,144
C o u p o n n o te s $ 1 ,8 0 0 ,0 0 0 -------- --------6%
4 4 6 .0 0 0
--
F irs t L ie n C o ll T r u s t M t g e ? 1917 5 M -S 1
2 ,6 3 6 ,0 0 0 M a r -- 1 1942
$ 2 0 ,0 0 0 ,0 0 0 ($ 500 a n d $ l ,- { I n t e r e s t p a y a b le In B o s to n a n d P h ila d e lp h ia .
0 00 ) ________________ c * c p t lP h ila d e lp h ia T r u s t C o ., T r u s to e .
.— S ecu red b y $ 2 ,4 5 0 ,3 0 0 m o rtg a g e b o n d s , $ 1 ,2 1 4 ,0 0 0 p r e f. s to c k an d
$ 2,2 5 0 ,3 0 0 c o m m o n s to c k o f s u b sid ia r y c o m p a n ie s . A d d it io n a l b o n d s m a y
b o lssu od o n ly fo r a cq u irin g a n d p la c in g u n d e r th o m o r tg a g e a t least an
e q u a l a m o u n t o f m tg e . b o u d s o f su b sid iaries n o w o u ts ta n d in g , o r , fu r th e r ,
at th e ra to o f 8 5 % fo r th o se t o b o Issued b y su b sid iaries fo r c o n s t r u c tio n ,
b u t u n der str in g e n t earn in gs re q u ire m e n ts .
6 % o f net
e a rn in g s o f s u b sid ia r y co m p a n ie s a fte r p a y m o n t o f o p e ra tin g exp en ses,
tax es a n d ren ew al reserv es, less sin k in g fu n d p a ym e n ts on p resen t s u b . c o . ’ s
m o rtg a g e s , fr o m M a r . I 1918 t o M a r . 1 1925, a n d 5 % th e re a fte r. S u b je c t
t o ca ll in w h o le o r p a rt o n a n y Int. d a te a t 103 a n d Int.
— 6 % is b e in g p a id o n p r e f. s to c k . In itia l d i v . o f 1 % o n c o m .
s to c k p a id In A p ril 1914; in A p ril 1915, 1 % , a n d sam e ra te q u a r te r ly s in c e .
E A R N I N G S .— C o m b in e d earnings o f su b sid ia r y co m p a n ie s (in c l. C it i
zen s T r a c . C o . a n d Y o u n g s to w n & S u b u rb a n R y . C o .) fo r y o a r e n d in g
D o c . 31 1917, gross, $ 1 ,4 4 4 ,3 1 0 ; n o t, a fto r ta x e s, $ 4 9 7 ,3 0 0 : in t. ch arges
o n se cu ritie s n o t o w n e d b y M . S. C o ., $ 109,965; M . S. C o . o x p o n so s ,
$ 1 3 ,1 2 0 ; b o n d in t ., $ 1 1 9 ,2 3 7 ; b a l. fo r n o t o in t ., sin k in g fu n d ., a m o r tiz a tio n
reserves a n d d iv id e n d s , $ 2 5 4 ,9 7 6 .
„
O F F I C E R S .— P re s .. G o o . B . B a k e r; V . - P . , N ic h o la s G . R o o s o v o lt ,
P h ila .; S e c ., J o h n E . Z im m o rm a n n ; T r o a s ., VV. VV. B ro o k s , B o sto n ; A s s t.
S e c ., R . O . Shiolds; A s s t. T r e a s ., Jas. VV. S w ain , J r ., a n d L . B . ll a r v o y .
G en era l o f f i c e . L a n d T it le B ld g ., P h ila .— V . 104, p . 1387. 1592, 2 23 5 .
r s a , c te a ne. R e rs
Ernog TeeaA. Inodt. Blalu,Psenee
aG ss. Nt.sfte Bns S rpcs asvgu
in x r re u
en
S
c
S
c
T R E N T O N B R IS T O L & P H IL A D E L P H IA S T R E E T R Y .
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 as s u cce s so r t o th e
P h ila . B r is to l & T r e n to n , s o ld a t fo re clo s u re o n A u g . 2 1909 t o a b o n d h o ld
ers c o m m it t e e .
V . 8 9 , p . 3 4 9 , 7 8 0 . F o r d is trib u tio n o f se cu ritie s o f new
c o m p a n y b y said c o m m it t e e t o h o ld e rs o f ce r tific a te s o f d e p o s it o f p re d e ce s
sor c o m p a n y in D e c . 1 91 5 , soe V . 101. p . 1975.
STO CK A N D BONDS—
S t o c k , ($ 5 0 )..........................................- ................................. $ 4 1 0 ,8 0 0
.......................
1 s t m tg e $ 75 0 ,0 0 0 ($ 1 ,0 0 0 .? 1913
5 g M -S
4 1 0 ,8 0 0 M a r . 1 1 0 4 3
500 a n d $ 100) g ____ c * t f l U n i o n T r u s t C o . o f M d . , B a l t ., T r u s te e
te m a ln ln g b o n d s a ro reserv ed fo r c o r p o r a t e p u rp o s e s. S u b je c t t o ca ll
as a w h o le o n a n y in t . d a te a t 105 a n d in t . N o sin k in g fu n d .
E A R N I N G S .— F o r years e n d in g D e c . 3 1 :
—
1917 .. $ 1 2 8 ,1 3 2
$ 3 8 ,46 2
$ 2 ,8 5 0
$ 2 0 ,5 7 7
------$ 1 5 ,3 3 5
1 9 1 6 ____ 9 8 ,6 4 7
3 1 ,3 4 5
2 ,4 0 0
2 1 ,0 4 2
1 ,5 2 2
6 ,3 8 1
R O A D .- O w n s a n d op e ra te s 17
m iles o f tra ck fro m T o r r o s d a lo t o M o r r is v ilie . R a ils , 60 a n d 9 0 -lb . girdor a n d 7 2 -lb . T ; gau ge 5 f t . 21$ in ch es
10 p assonger ca rs, 1 fr e ig h t ca r, 6 w o rk ca rs , 1 sn ow p lo w , 4 ongtnos an d 4
ge n e ra to rs. 8 50 k . w . c a p a c it y . U as an o p e ra tin g a gro o m o n t w ith F ra u k fo rd T a c o n y & Ilo lm e s b u r g R y . , b y w h ich ca rs o f b o th co m p a n ie s ru n
th ro u gh fr o m F r a n k fo r d t o B r is t o l.
O F F I C E R S .— P r e s .. C arl N . M a r t in ; V . - P . . J o h n R e d w o o d : S e c .
T r e a s ., J . E llio t N e w lin ; G e n . M g r ., M . J . H ill, B r is to l, P a .— V . 9 6 , p .
6 54, 1158; V . 100, p . 1594; V . 101, p . 1975; V . 104. p . 7 68.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
f
Ya
er
C s.
ros
Nt.
e
Txs In ret. Dp e S rp s.
ae. te s e re. u lu
h
i
S
c
P H I L A D E L P H I A R A I L W A Y S C O .— A tr o llo y r o a d .
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 o n M a y 13 1911 as
s u cce sso r t o th o S o u th w e ste rn S tr e e t R y . s o ld a t fo re clo s u re A p r . 21 1911.
V . 9 2 , p . 1375.
STO C K A N D BONDS—
S to c k $ 40 0 ,0 0 0 ($ 5 0 )......................... - ...............................$ 4 0 0 ,0 0 0
------------------1st m tg e $ 40 0 ,0 0 0 g o ld ($ 5 0 0 ? 1911
5 g M - N 15 4 0 0 ,0 0 0 M a y 15 1941
a n d -$ 1 ,0 0 0 )___________c * t f \ I n t .a t R e a l E s t . T i t . I n s . is T r . , P h ila .,T r u s .
are r o d . o n a n y Int. d a te a t 105 a n d in t.
E A R N I N G S .—
—
19 17
$ 13 7 ,0 7 3
$ 2 8 ,77 6 $ 2 4 ,02 4 $ 6 ,0 0 0 d e f. $ 1 ,2 4 8
1916
122,431
3 0 ,8 6 6
2 3 ,6 4 6
7 ,0 0 0 s u r.
2 20
19 15 ......................................... 9 4 ,2 3 5
17,171
2 3 ,4 2 8
4 ,0 0 0 d e f. 1 0 ,2 5 7
R O A D .— O w ns a n d o p o ra te s 14 m iles o f tra ck w ith in lim its o f P h ila
d e lp h ia . A ls o o p e ra te s b ra n ch o f C h e s te r & P h ila . R y s . C o . fr o m B o w C reok
t o E ss in g to n , 3J4 m ile s . G a u g e . 5 f t . 2 > i in .
O F F I C E R S .— P r o s ., I . I I. S iv e rm a n ; S e c ., A lv in VV. F r o m ; T r o a s .,
B e n j. W o l f .— V . 9 2 . p . 1375: V . 100. p . 4 7 5 .
Dle In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od
Cl. Ya
a er
Cm. N . Tres Dpn ue so
ro
Inose Inote InaetAe e re. SDluit.r
c s ce texs, la - rp
m
tio
fic
Mpo pg
a n ae
P H I L A D E L P H I A & W E S T E R N R Y . C O .— (See
9 6 .)
O R G A N I Z A T I O N , & c .— In c o r p o r . J u n o 0 1907 in P a . as s u cce s so r to
th o P h ila d e lp h ia W estern R R C o . In 1910 co n tr o l was a cq u ire d b y a s y n
d ic a te h ea d ed b y E d w . B . S m ith & C o ., o f P h ila d e lp h ia and N o w Y o r k .
O w ns o n e -h a lf o f th o ca p ita l s to c k o f th o N o rris to w n T r a n s it C o . , w h ich
ro a d c o n n e c ts th o L ehigh V a lle y T ra n s it C o . w ith th o P h ila d e lp h ia W e s t
ern (see " R O A D ” b o lo w ), a n d th e e n tire ca p ita l s to c k o f th o D e K a lb
R e a lt y C o . and th o In to r b o r o u g h E le c tr ic L t . & P o w o r C o .
F or p ro p o s o d line fr o m P h ila . t o V a lle y F o rg o , P o t ts t o w n , & c ., o r w h ich
th o P h ila .
W estern R y . is t o fo rm th e te rm in al tru n k lin o , b u t ta k e n o
p a rt in fin a n c in g th e p la n , see V . 1 01, p . 9 2 4 .
STOCK A N D BONDS—
C o m m o n $ 4 ,0 0 0 ,0 0 0 ( $ 5 0 )................................................. $ 4 ,0 0 0 ,0 0 0 ..........................
P r e f $ 2,0 0 0 ,0 0 0 5 % cu m fr o m l
^ t
„„„„„„„ .
,,,
Jan 1 1916 ( $ 5 0 ).....................
_
Q -J
2 ,0 0 0 .0 0 0 A p r
F irst m o rtg a g e $ 4 ,0 0 0 .0 0 0 f 1910
5 g J-J _
2 ,6 3 0 .0 0 0 J u ly 1 1 9 6 0
g o ld ($ 1 .0 0 0 ).................. c * t f l In t. a t P h ila . T r . C 'o ., P h ila ., tru s te e , o r at
B
1 E d w . B . S m ith C o .. P h ila d e lp h ia .
S
c
Dle In ret. Ots nin. Mtu .
a . te s u tad g a rity
I
18.1H
Ma y , LOIS.j
E L E C T R IC R A IL W A Y S
The com. & pref. stocks were listed on the Phlia. Stk. Exch. in M a y 1917.
B o n d s . Of remaining bonds $ 3 7 0 ,0 0 0 are In treasury. Subject to c l
—
al
at 1021$ and Interest on any interost date on 60 days' notico.
D iv i d e n d s . — First div. on pref. stock— l>i%— paid April 15 1916;
same rate quarterly since.
E A R N I N G S . — For year ending June 30 (1917reportin V. 105. p. 122) :
J u n e 30
G ro s s
N e l {a fte r P u r c h . o f I n t e r e s t
P r e fe r r e d
B a la n c e ,
Y ear—
E a r n in g s .
T a x e s ) . E q u ip 't . C h a r g e s.
D iv i d e n d s .
S u r p lu s .
1916-17___ S538.137 $252,394 $10,000 $131,500 (5%)$100,000 $10,894
1915-16--- 491,488 237,820 .....
131,500 ( ^ %) 25.000 81319
1
Passengers carried during year ending Dec. 31 1917, 3,553,603, against
3,532,625 in 1916 and 3,200,252 in 1915.
R O A D . Oporates a high-speed double-track road 17.33miIos long botween
—
Philadelphia, Norristown and Strafford, entirely on private right-of-way
and connecting with Phila. Rapid Transit Co.'s subway-olovated systom at
69th & Markot Streets, Philadelphia, and with Penn. RR. main line at
Strafford Sta. An extension from Villa Nova into Norristown was placed
In operation on Aug. 26 1912. In Dec. 1912 connection was made with the
Lehigh Valley Transit Co.’ lines at Norristown via Norristown Transit Co.
s
and a through servlco established betweon Ailontown and Philadelphia.
In Doc. 1912 made a contract with the Adams Express Co., undor which
express cars are oporated from Philadelphia to Allentown. Total tracks
38.19 miles; gauge, 4 f . 8 H i
t
n. 85-lb. r i ; 22 passongor cars, 2 express
al
and 3 flat cars, 1 snow plow. Total, 28.
OFFICERS.— Pres., Thos. Nowhall; V.-P. & Gen. Mgr., J. L. Adams;
Sec. & Troas., Gorald Iloisman. Offices (operating), Upper Darby P. O.,
Pa. (executive), 1411 Chestnut St., Phila.— V. 105, p. 910, 1202; V. 106,
p. 500, 818.
PINE BLUFF, ARKANSAS.
T H E PINE B L U E F CO.
In Fob. 1917 H. O. Couch, Arkadelphia, Ark., and J. I Watkins, M e m
I.
phis and N. Y., and associates acquired control.
O R G A N I Z A T I O N . — Incorp. Mar. 13 1912 in Ark. and owns and oper
ates the electric light and power, street railway and water supply properties
In Pino Bluff. F r a n c h is e s for street railway and oloctrlc-light system
extend to 1951; water franchise to 1947, subject to the city's right to pur
chase at 5-yoar Intervals.
W a g e I n c r e a s e . — V. 105, p. 1709.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m stock. 31.000.000 ($100)-------$700,000 ..... ....
Pref 7 % c u m $1,000,000($100)--Q-M
690.000 Dec. '17.1 H %
First mtge $2,000,000 gold! 1912 5-6gJ-J
955,000
Jan 1 1942
($1,000)------- c*&r*.tf/Int. In N. Y. N e w York Trust Co., trustee.
P r e f e r r e d S to c k . — Pref. as to prin. and div.; red. at 115 on 60 days'
notico. A sum equal to 15% of gross earnings must bo applied to maint.,
renewals, & c , beforo paying com. stock dlvs. and a depreciation reserve I
.
s
to be built from this charge up to $125,000. Pref. stockholders have f l
ul
voting power. See V. 103, p. 1119, 1413.
B o n d s . — $255,000 of outstanding bonds bear 0 % int.; rest 5%.
After
the f r t $1,000,000 bonds are out, further bonds m a y be Issued onlv up to
is
8 5 % of cash cost of impts., add'ns or exts., under restrictions. Callable at
105 and int. on any Int. date. Sinking fund or 1 % annually of bonds out
Jan. 1 1915 to 1924; 1
1925 to 1934, aud 2 % thereafter. $560,000 of
the outstanding bonds aro registered as tax-oxempt In N Y. Stato under the
Secured Debt Tax Law. Y. 102. p. 976.
D iv i d e n d s . — Quarterly div. of 1M % on prof, stock were begun in Mar. '17.
EARNINGS.—
----- Y e a r s e n d in g D e c . 31--------P e r io d —
1917.
1916.
1915.
1914.
Gross earnings.......... ... $326,685 $273,379 $250,562 $272,249
109,815
116,898
Net, after taxes-............ 127,706 131,154
P R O P E R T Y . — Generating station of 4,750 k. w. capacity; water p u m p
ing station with 2 trlplo-expansion service pumps of 4,000.000 gals, capacity
each; 4 wells, said to bo over 800 f . deep; 2 concrete reservoirs of over
t
3,000,000 gals, capacity; 52 miles of pole lines, incl. the streot railway dis
tributing systom, and 2,599 motors; 37 milos of water mains, serving 2.617
customers' meters, and 312 fire hydrants; streot railway with 9 H miles of
equivalent single-track of 70-lb. T r i ; 21 "pay-enter” cars.— V. 103. p. 668.
al
1119, 1211. 1413: V. 104, p. 664; V. 105, p. 1709; V. 106, p. 397:
PITTSBURG, KANSAS.
J OPLIN & P I T T S B U R G R A I L W A Y . — A trolloy road.
O R G A N I Z A T I O N . — Incorporated Juno 10 1907 in Missouri. Took
ovor tho Pittsburg Railway & Light Co. and the Joplin & Pittsburg Street
RR. V. 85, p. 469. The Pittsburg Ry. & Lt. Co. was Incorporated In
Kansas In 1905 as a consolidation of the Pittsburg RR. and tho Pittsburg
Light & Powor Co. In 1910 absorbed the Pittsburg & Kansas City Ry.
(which company had acquired tho Girard Coal Belt Elec. R y . . and a l bonds
)
l
of that company woro retired. F r a n c h is e s i towns through which road
n
runs vary from 30 to 50 years and some aro perpetual. Private right of way
outside of cities and towns.
An incroaso in passenger rates from 1.93 cents to 2 cents por milo was
auth. by tho Mo. P. S. Comm., effective April 22 1918.
•
W a g e A r b i t r a t io n . — Seo V. 99, p. 1909.
Strike.— A striko begun on Fob. 12 1918 was endod Mar. 21 1918, tho
mon returning to work under old conditions. V. 106, p. 1689.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Stock common $5.000,000--- -----------$3,300,000 __________
Prof, rights $2,000,000 6 %
cum. from April l 1916— , ..............
' ‘ ...
800,000 .........
First mortgago $5,000,000' 1910
5 g M-S
1,750.000 M c h 1 1930
($600 & $1,000)— .g c*.tf Harris Trust & Sav. Bk Chic., & St. L.
Un. Tr. Co., trustees.
Genoral mortgage $1,050,000 1913
6 A-O
1.050.000 April 1 1920
l
($500 & $1.000).... c*-tf (Central Tr. Co. of I linois, Chicago. Trustoo.
S to c k . — Pref. rights are 0 % cumulative from April 1 1910 and also share In
earnings aftor common has rocelvod 6%. $95,600 havo boon retired. The
rights will eventually be oxcliangoable for preferred stock, but as yet no
arrangomont for this transfer has been made.
B o n d s . — Remaining first mtge. bonds are resorved for extensions and
additions at 8 0 % or cost, but only when previous year’ not earnings are
s
twico Intorest on bonds out and to bo issued. Subject to call at 103 and
Interest on any intorest dato on twenty days' notice. N o sinking fund.
Int. i payable at Harris Trust & Sav. Bank, Chicago; Harris, Forbes &
s
Co..,N. Y., or any of tho offices of E. I . Rollins & Sons. V. 90. p. 914.
I
General mortgage bonds were Issued In exchango Tor debentures of HUO.
E A R N I N G S . — For fiscal years ending Juno 30:
Y ear—
G ross.
N e t ( a ft . T a x e s ) . B o n d I n t .
S u r p lu s .
1916-17...............$644,682
$168,778
$150,500
$18,278
1915-16.............. 631,259
218,353
150,500
67,853
R O A D . — Owns and operates 103.12 miles of track, embracing some
local street railway lines in Joplin, Mo., and a l In Pittsburg, Kan. and
l
Interurban lines connecting tho two c t e , and also Pittsburg with Frontenac,
iis
Dunkirk, Radley, Franklin, Anna, Croweburg, Mulberry and Girard and
Cherokee, Mineral, Weir City, Scammon and Columbus. 70-lb. r i s
al.
It I proposod to extend tho line Into tho Lawton-Waco zinc fiel s 1K
s
d,
miles, at an early date, and later on Into Lawton.
OFFICERS.— Pres., Joseph J. Holm; V.-Ps., J. W. Ground and O. C.
Snider; Sec. and Troas.. John A. Prescott: Aud. & Asst. Sec.. E. S. Bigelow,
a l of Kansas City, Mo.; Gen. Mgr., W. A. Satteriee, Pittsburg, Kan.
l
Goneral office. First Nat. Bank Bldg., Kansas City, Mo. Operating head
quarters, Pittsburg, Kan.— V. 99, p. 1909; V. 105, p. 1898; V. 106, p. 1689.
PITTSBURGH, PA.
PH ILADELPHIA COMPANY.
O R G A N I Z A T I O N . — Organized on M a y 24 1884, and was originally a
natural gas company. Oporates under special Act of the Legislature of
Pennsylvania (conferring many valuable rights and privileges) granted to
I s predecessor, the Empire Co., in March 1871. F r a n c h is e s of the com
t
pany and I s subsidiaries, with a fow minor oxcoptlons, aro perpetual or
t
for 999 years. Its business may be classed under the following heads:
(l) N a t u r a l G a s a n d O il . — Philadelphia Co., through I s own lines and
t
those of a number of cos. controlled by i , supplies nearly a l the natural gas
t
l
consumed In tho city of Pittsburgh and the manufacturing towns lying
along t i Monongahela and Allegheny rivers. Company controls by
ie
lease 606,201.50 acres of gas and o l lands In West Virginia, Ohio and Wes
i
tern Pennsylvania. In 1913 the Pittsb. & West Virginia Gas Co. pur
chased tho Monongahela Natural Gas Co. by tho issue of $1,500,000 c ll,
o
trust notes (seo below). Tho principal natural gas companies controlled are:
99
The Philadelphia Co. of W . Va.
Union Gas Co. of McKeesport.
Chartiers Valley Gas Company.
Allegheny Heating Company.
Equitable Gas Company.
Pittsburgh & West Virginia Gas Co.
Pennsylvania Natural Gas Co.
During year ending March 31 1917 company sold 48,120,896.100 cu. f .
t
of natural gas and 122,159.02 barrels of o l On March 31 1917 owned or
i.
controlled 1,740 gas wells and 3,324.63 miles of pipe, not including the
192.89 miles of mains of the Allegheny Heating Co. and the356.67 miles of
the several a
rtificial gas companies; also owned or controlled 129 o l wells.
i
( ) E le c tr ic L ig h t & P o w e r . The Philadelphia Co. controls through stock
2
—
ownership the Duquesne Light Co. which forms the electric light and
power division. See statement on a subsequent page.
( ) S treet R a ilw a y s . These ccflnprise about 657 n . of track, a l operated
3
—
i
l
(as a matter of convenience and economy) by the Pittsburgh Railways Co.
(except the Clairtou St. Ry., Co., the Beaver Valley Traction Co. and the
Pittsburgh & Beaver St. Ry. Co., which aro operated separately).
In Feb. 1902 acquired the elevated railroad franchises which were
■granted to Messrs. Bigelow, Oliver, Quay and others. V. 74, p. 478.
( ) A r t i f i c i a l G a s . — Also controls the Consolidated Gas and South Side
4
Gas companies forming the artifical gas department.
In Feb. 1906 the United Rys. Investment Co. of San Francisco acquired
control through purchase of $21,000,000 of the common stock, paying for
tho stock acquired partly in I s own stock and partly in an issue of i s c l ,
t
t ol
trust bonds. In April 1907 acquired $3,200,000 more of the stock by an
other Issue of c ll, trust bonds; now owns $24,555,000 of the com. stock.
o
Seo statement of United Rys. Investment Co. under San Francisco and also
V. 82, p. 393, 988.
On July 30 1914 Judge Ford In the C o m m o n Pleas Court at Pittsburgh
held that under the terms of the old ordinance passed In 1884 the com
pany i obliged to furnish free gas for a l city departments and properties
s
l
including tho case in question— tho municipal hospital. The company
appealed and a decision favorable to l was rendered.
t
In 1912 the company made an adjustment of i s accounts and relations
t
with the Pittsburgh Railways Co. It sold to the Pittsburgh Rys. certain
stocks of street railway and traction cos. included in the Pittsb. Rys. Co.
system (book value, $8,265,000). and also turned over to tho Railways Co.
tho b l s payable of that co. and of certain underlying cos. (book value, $10,
il
649,052) held by the Phila. Co. In return i received $10,000,000 par value
t
6 % debentures of tho Railways Co.; Interest on these debentures i payable
s
only i earned and i non-cumulative. Seo report for year end. Mar. 31
f
s
1913 in "Chronicle” of M a y 24 1913. page 1499.
In July 1916 the Equitable Coke Co. purchased from the Allegheny Coal
Co. a l i s operating coal properties, including over 3,000 acres of coal land
l t
in Allegheny Co., and equipment, in order to insure the coal supply re
quired by tho Phila. Co.’ subsidiaries for production of power. The
s
Equitable Coke Co. issued $1,500,000 3-year 5 % gold notes, guar. p. & i
.
by the Phila. Co., to effect the purchase.
D e fa u lt i n I n te r e s t P a y m e n ts o n S u b s id ia r y C o .'s B o n d s . See Pittsburgh
—
Rys. below. Also Consolidated Gas Co. of Pittsburgh.
E q u ity P r o c e e d in g s . On Feb. 13 1918 the Equitablo Trust Co., of Wil
—
mington, Del., filed a b l in equity in tho U. S. District Court at Pittsburgh
il
against tho Philadelphia Company and i s subsidiaries, asking tho Court
t
to restrain the defendants from limiting tho supply of artificial gas in Pitts
burgh, and bring about tho payment of a matured and unpaid interest on
ll
tho outstanding bonds of the Consolidated Gas Co. V. 106, p. 822.
♦SCHEDULE OF CAPITAL ST O C K OF O T H E R CORPORATIONS
O W N E D A N D P O S S E S S E D O N M A R . 31 1918.
S h a res.
T o ta l I s s u e .
Consolidated Gas Co. of the City of Pittsburghlowns stock of Allegh. Illg Co.)_z80,000 C o m m o n out of
80,000
Consol. Gas Co. of O. of Pitts_____
2,962
Preferred
“
40,000
Chartiers Valley Gas C o _________ z29,850
Common
“
29,850
Pennsylvania Natural Gas C o _____ 20,000
“
“
20,000
Equitable Gas Co. of Pittsburgh......
13,927
"
“
13,927
Equitable Gas Co. of Pittsburgh__
5,975
Preferred
“
5,975
South Side Gas C o _____________
15,521
Common
"
20,000
Pittsburgh & W. Va. Gas C o ____1 . 37,500
"
“
37.500
do
do
22,500 Preferred
“
22,500
Allegheny neatlng C o __________
x2,664
Common
“
4.754
Consolidation Traction_____________ t/233,117 Preferred
“ 240,000
Consolidation Traction__________t/286.880
Common
" 280,980
Union Gas Co. of McKeesport_______
16,000 Com., being a l the st’
l
k.
Pittsburgh Railways C o _____________ 50,000 Preferred "
Pittsburgh Railways Co _____________ 50,000 C o m m o n ‘
Duquesne Light C o ________________ 217,260
“
‘
Pittsburgh Electric Power Co ________
200
“
'
Philadelphia Oil C o ................ 40,020
"
‘
Braddock Gas & Light C o ___________
5,000
“
‘
5.00O
“
1
Seventeenth St. Incline Plano C o ______
Pittsburgh & Beaver Street R y ________
4,700
“
‘
Equitablo Coke C o _________________
50
“
Equitablo Equipment C o ____________
50
“
Mansfield & Chartiers Gas C o ________
500
“
'
Cosmos Oil C o ____________________
2,860
"
‘
Mornlngsldo Electric Street Ry. C o ____
480
"
‘
The Philadelphia Co. of West Virginia.. Z20.000
“
'
Beaver Valley Traction C o __________
21,500
“
1
Six miscellaneous street railway cos___
1,092
“
'
All of the above shares marked thus, x , are in the hands of the Mary
land Trust Co., trustee under the fi
rst mortgage, and collateral trust
dated March 1 1899. Those marked y (with tho exception of 39,646
shares Consol. Tract, common and 157 shares Consol. Trac. pref. held in
treasury of Philadelphia Co.), are held as security for the collateral trust
bonds of 1901. and these latter bonds aro also a second lien on the shares
marked z
.
♦On Mar. 31 1918 the value of stocks and bonds of other companies
owned was $05,037,784.
♦SECURITIES OUTSTANDING (AS OF M A R . 31 1918).
I n t e r e s t . O u ts ta n d in g . L a s t d i v . , A c .
STOCK A N D BONDS—
D a te .
Stock com $44,900,000 ($50). _____
.........
$42,943,000 M ay'18, I X
Pref stock $25,000,000 ($50) l ___
0 M -N
0.763,550 M ay '1 8.3%
6 % c u m ......... .... j
Prof stk, 5 % non-cum ($50) ___
5 M-S
1,442,450 M a r '18. 2 X
Phil Co 1st & Col Tr M $6,-f 1899
5 g M-S
6,500.000 M c h 1 1949
500,000 g ($1,000) c*..tf(Maryland Trust Co., Baltimore, Trustee.
Phil Co con M & col tr $22,-/ 1901
5 g M-N
15.148 000 Nov 1 1951
000,000 g ($1.000)___ c*tf (Continental Trust Co., Baltimore, Trustee.
Conv dob $2,600,000 gold/ 1909
5 g F-A
1,957,000 Aug 1 1919
($1,000)_________c*..tflInterest at N e w York Trust Co., trustee.
Conv deb $10,000,000 gold/ 1912
5 g M-N
9,794.000 M a y 1 1922
($1,000 or £205 16s.2d)c*tftNew York Trust Co., N. Y., trustee.
Phila Co collateral gold notes/ 1913 6 g F-A
250,000
See text
$2,500,000 ($5,000)___ tfllnt at Union Trust Co. of Pitts., trustee.
Collat gold notes, $7,000.0001 19175 X g A-02
7,000,000 Apr 2 1919
($1,000 & multiples)..c&rj N e w York Trust Co., N. Y., trustee.
Union Gas Co., McKeesport)
1899
5g
220,000
Oct 1
1929
1st mortgage g s f_______/Union Trust Co.. Pittsburgh. Trustee.
JInterest at Mellon Nat. Bank, Pittsburgh.
Pittsb. & W. Va. Gas coll./ 1913
5 g A-O
900,000
See text
tr$1,500.000 ($1.000)c*.tfllnt. at Union Tr. Co., Pittsburgh, trustee.
Equitablo Coke Co notes g(
1917
5 J-J
1,500,000 Jan 1 1920
guar p & iby Phila C o ___ /
* This table does not cover such properties as are separately reported
further on.
S lo c k . Stock authorized was increased in February 1899 from $7,500,000
—
to $21,000,000, of which $6,000,000 was 5 % non-cumulative preferred.
The incre:ise was made to acquire the stock of the Allegheny Co. Light Co.
(acquired by Duquesne Lt. C o . ) , Chartiers Val. Gas Co. and tho com. stock
of the Consolidated Gas Co.; also by exchange the United Trac. stock. On
Dec. 4 1901 stockholders auth. an increase to $36,000,000 through the issue
of $15,000,000 additional com. stock. The increase was mainly for the pur
pose of acquiring the shares of the Consolidated Trac. Co. and the Southern
Traction Co. V. 7 3 p. 1112. In Aug. 1906 authorized common stock
.,
was further increased to $36,000,000, mainly to provide for the purchase of
the Beaver Valley Traction Co. and Washington & Canonsburg Ry. V. 82.
p. 1323. July 22 1909 S5.000.000 additional common stock was auth. to
provide for tho convertible feature of convertible debentures auth. at the
same time, but any shares not so used to bo available for the general pur
poses of the company. V. 88, p. 1314; V. 89, p. 225. On Dec. 28 1915
authorized amount of com. stock was increased from $42,400,000 to $44,
900,000, the new stock being issued to pay off floating debt. V. 101.
p. 1465: V. 102, p. 68.
10 0
E L E C T R IC R A IL W A Y S
On Apr. 29 1912 shareholders voted to authorize $25,000,000 ($50) 6 %
cum. prof, stock and $10,000,000 conv. debentures. Of the new stock
$6,000,000 was for exchange of existing preferred stock (upon basis of
share for share and a cash payment to the company of $2 50 per share,
and $LO,000,000 for conversion of convertible debentures. The remaining
$9,000,000 I reserved for future requirements. See financial plan In
s
V. 94. p. 417, 488, also V. 94. p. 560. $8,000,000 has been listed on the
N e w York Stock Exchange. As of March 31 1914, when the original offer
for exchange of 6 % pref. stock for 6 % pref. stock expired, $3,966,600 had
been exchanged, leaving $2,033,400 of the old pref. stock outstanding. In
M a y 1916 further opportunity for exchange of stock to and including
July 15 1916 was given (V. 102, p. 1897) and holders of $590,950 stock took
advantage of the offer, leaving $1,442i450 old pref. stock outstanding. Up
to Mar. 31 1918 $206,000 debentures had been converted Into 6 % cum.
pref. stock, leaving $9,794,000 outstanding as of that date.
The Philadelphia Company stock has been listed bn the N e w York Stock
Exchange since October 1886. and i also listed on the Phila. Exchange.
s
See application to the N. Y. Stock Exchange in V. 70, p. 1198, and also io
••Chronicle” of Feb. 22 1902. In March 1911 stock was listed on the Paris
Bourse. V. 92, p. 726.
. . .
The Phlla.Co.ln Jan.1908 offered to guarantee 4 % per an. from Aug. 1
1907 on the $2,000,000 prof, stock of Consol. Gas Co. (entitled to 6 % cum.),
provided additional earnings be divided equally between the two classes of
stock, but pref. not to receive more than 6 % In any event. Holders of 75%
of the $2,000,000 pref. stock having agreed to the proposition, the plan wa»
adopted. V. 86, p. 54,605.
B a n d s . — The bonds of 1899 are listed on the Phila. and Pittsburgh Stock
Exchanges. Of the $22,000,000 bonds of 1901. $6,500,000 are reserved
to take up tho $6,500,000 1st col , trust bonds and $352,000 to acquire
l
pref. stock of Consol. Traction Co. They are free of Pa. State tax. For
security for the bonds see V. 102, p. 801. Listed on Phila. Stock Exch.
Under a plan dated Feb. 27 1917 (see V. 104, p. 953) sinking funds were
established beginning Mar. 1 and M a y 1 1918, respectively, to retire and
cancel bonds by purchase or cal , by applying thereto each year a sum equal
l
to 2 % of the principal amount of such of the $6,500,000 outstanding 1st M .
and Coll. Trust 5s due Mar. 1 1949 and of the $15,148,000 Consol. M. *
Coll. Trust 5s due Nov. 1 1951 as agreed to the plan. Assenting bonds
are stamped as subject to call as a whole or whon drawn by lot for tho sink
ing fund at 107H and int. for the 1st M. and 102H and in . for tho consols.
t
$5,616,000 1st M. and c l . t . 5s and $13,804,000 consol. M. and cod. t .
ol r
r
5 % bonds so stamped have been listed on the Phila. .Stock Exch., and ap
plication will be made to have them listed on the N. Y. Stock P x l . In
ie)
case the bonds are called as a whole, they m a y be canceled or kept alive,
as the company m a y elect.
C o n v e rtib le D e b e n tu r e s . — Stockholders on July 22 1909, confirmed the pro
posal of directors to issue $5,000,000 ($2,500,000 out) 10-year 5 % deben
tures, convertible, $ for $, into com. stock at any time. Subject to c at
all
102H -nd int. on any int. date on 60 days’notice, but i called, owner has
f
option of accepting cash or converting into com. stock. V. 88, p. 1314;
V. 89, p. 22o, 1545. $543,000 havo been converted. Debentures are
listed on N. Y. Stock Exchange. V. 90, p. 303. In June 1910 i was
t
voted to issue, in lieu of remaining $2,500,000 dob., £500,000 conv. 5 %
sterling dfeb., conv. at any time into com. stock. All these dob. were comverted into $2,500,000 stock on Feb. 1 1911. V. 92, p. 262.
The convertible dobs, of 1912 are convertible into pref. stock at any time
after Jan. 31 1913 at par. U p to M a y 1 1918 $206,000 had boon con verted
Red. at 102^ and int. on any int. day on 45 days’notice. Int. payable i
n
N. Y. and London. Debs, are listed on N. Y. and Phila. stock exchanges.
[Vol. 106.
S T R E E T RAILWAYS.
( ) Pittsburgh Railways Co.— A trolley road.
1
R ec e iv e rs A p p o i n t e d . — On April 23 1918 H. S. A. Stewart, J. D. Callery
and C. A. Fagan were appointed receivers for this co. upon application of
tho American Brake Shoe & Foundry Co. and the St. Louis Car Co., i
t
being alleged that revenues were insufficient to meet maturing obligations
and that thero was immediate danger of the systom being dismembered by
bondholders of tho underlying corporations. V. 106, p. 1797.
D e fa u lt — S u b seq u en t P a y m e n ts . — Tho company failed to pay tho Jan. 1
1918 interest on the bonds of tho following subsidiaries and tho direc
tors of the Philadelphia Co., which was already a creditor of the Railways
Co. for a large amount, refused to make i further loans: Central Traction
t
Co., Duquesne Traction Co., Federal Street & Pleasant Valley Passenger
Ry. (General and Consolidated Mtges.), Pitciarn & Wllmerding Street Ry.,
Pittsburgh Canonsburg & Washington Ry., Pittsburgh Crafton Sc Mansfield
Street Ry., Pittsburgh Incline Plano Co., Pittsburgh Sc West End Passenger
Ry., Second Avenue Traction Co., United Traction Co. of Pittsburgh,
Washington & Canonsburg Ry.. West End Traction Co.. West Liberty
Street Uy., West Liberty & Suburban Street Ry. All tho Jan. 1 1918
coupons on tho foregoing i s f s except on the United Traction 5s, were
sue,
paid in March 1918. V. 106, p. 930, 1232.
B o n d h o ld e rs ’ P r o te c tiv e C o m m itte e . — See United Traction Co. of Pitts
burgh below.
.^ ,
V a lu a tio n B o a rd C r e a te d . — In March 1918 the P. S. Comm, appointed
a committee to ascertain the physical valuation of the co.’ properties and
s
to recommend faro rates which will yield I a fair return on i s investment.
t
t
This was formerly tbe Southern Traction Co., but in accordance with the
authority vested In l by the terms of i s charter, the directors of the South
t
t
ern Traction Co. on Dec. 30 1901 voted to change the name or the company
to the Pittsburgh Railways Co. The Philadelphia Company had previously
acquired a l the stock, common and pref., of the Southern Traction, in
l
accordance with tho terms in V. 73, p. 1112.
The Southern Traction Co. was chartered In 1900 to take over, extend
»nd operate tho West End Traction lines, which were purchased in Aug. 1900
f Leases°t’ Pittsburgh & Castle Shannon RR. for 99 years, rental being
°
ho
$15,000 per annum. See V. 81, p. 778.
The following stocks (being in each case the entire issue) are owned:
50.000 shares common stock of the West End Traction Co.
50.000
“
preferred stock of the West End Traction Co.
340,000
“
common stock of United Traction Co. of Pittsburgh.
58,999
’
’ preferred stock of United Traction Co. of Pittsburgh.
5.000
“
common stock of Allegheny Bellevue & Perrysvillo Ry. Co.
300
“
”
’
* Allenport & Uoscoe Electric St. Ry. Co.
120
“
1
1
“
Ambrldgo Dlxmont & Emsworth St.Ry.Co.
2.000
“
”
“
Bon Avon & Emsworth St. Ry. Co.
80
"
“
“
Cedar Avonue St. Ry. Oo.
600
“
“
’
’ Clalrton Street Ry. Co.
5.000
*
*
’
*
“
East McKeesport Street Ry. Co.
30.000
"
“
*
’ Mt. Washington Street Ry. Oo.
1,590
“
’
”
Pittsburgh Canonsburg & Wash. Ry. Co.
1,400
”
"
’
’ Pittsburgh Express Co.
50.000
“
”
"
Pittsburgh & Charleroi St. Ry. Co.
200
“
“
“
Rosslyn Street Ry. Co.
80
’
*
“
’
’ Superior Avo. & Shady Ave. St. Ry. Co.
24
“
“
*
’ Tustln Street Ry. Co.
20.000
”
“
“
Washington <c Canonsburg Ry. Co.
f
480
“
“
“
Washington & Claysville Street Ry. Co.
500
’
’
’
’
“
West Shore Electric Street Ry. Co.
^ C f d i .^ T r m t 'Gold N o t e s . — Principal i payable $250,060 each Feb. 1 and
s
120
”
“
’
* Virginia Avenue Street Ry. Oo.
Aug. 1 from Feb. 1 1914 to Aug. 1 1918 i c . $2,250,000 retired.
nl:
400
“
’
’
’
’ McKees Rocks & Ingram St. Ry. Co.
The Pittsburgh & W . Va. col , trust 6s mature $150,000 each Oct. 1
l
300
“
“
’
’ McKees Rocks & Nevillo I l St. Ry. Co.
s.
from Oct. 1 1914 to Oct. 1 1923 incl. N o s fd., but subj. to call, any pari
.
120
"
“
”
Crafton & Chartiers Valley Tract. Co.
or a l on any Int. date at par and int. on 30 days' notice. Guar. p. & 1 by
l,
.
400
“
"
“
Pitts. Banksville & Mt. Lebanon S. R. Co.
Philadelphia Company. $600,000 retired.
,
„„„ „„„ , ,
, ,
100
“
“
*
* Carnegie Bridge Co.
T w o -y e a r 5 H % c o ll . g . n o t e s . — Issued to (a ) refund $2,000,000 Coll. Trust
120
*
'
“
“
West Liberty & Suburban St. Ry. Oo.
gold notes, due M a y 1 1917; ( ) refund $650,000 funded debt which matured
6
160
“
*
•
*
’ McKees Rocks & Allegheny Street Ry.
during the fiscal year ending Mar. 31 1917; ( ) reimburse the treasury i
c
n
174
•
•
■
*
“
Bon-AIr Street Ry.
part for capital expenditures made during the year; (d ) provide $3,000,000
120
“
“
“
Clalrton & Blair Street Ry. Co.
for the capital requirements of the Duquesne Light Co. Secured by de
168
'
*
“
”
Pine Run Street Ry. Co.
posit of $8,400,000 common stock of Duquesne Lt. Co. V . 104, p. 1490.
A lso o w n s 100 stoares p re f. s to c k o f th e C o n s o lid a te d T r a c t io n C o .
DIV3.—
I ’
95. ’
96. ’
97. ’
98. ’
99. ’
00. ’
01. ’ ’
02 09. ’
10. ’
ll. ’12. ’
13
By the terms of an operating contract, effective Jan. 1 1902, the Pitts
Per cent_____\ 5 None
4 4J£ 5
6 % y’
ly 7
7 6}$ 7
l
The foregoing dlvs. are for the com. stock. The old 5 % non-cum. prof, burgh Railways Co. assumed control of a l tho properties of the Consoli
was created in 1899, and first semi-ann. payin’ of 2>$ % was made in Sept. dated Traction Co., the IJnitod Traction Co. of Pittsburgh and their under
t
lying companies.
—
,
1899 and have been regularly continued since then. 1st dlv. on new 6 %
O v er-cro w d in g O r d in a n e . — On Fob. 7
Ploas Court No. 1
cum. pref.— 3 % — paid M a y 1 1913; same amount semi-ann. since to and handed down a decision crestraining city 1911 C o m m o n or prosecuting any
from entering
Incl. M a y 1918. On com. in 1914, Feb., IJ*%; May, 1 M % ; Aug.,
%■
The Nov. div. was paid in scrip bearing int. at 7%. The Fob. 15 1915 suit upon so-called over-crowding ordinance, enacted July 30 1910. V .92,
div. was also paid in scrip (V. 100, p. 141). Both series of scrip were called ^ D e c i s i o n . — As to decision by Penn. Supreme Court, holding that the city
for payment on Feb. 1 1918 at par and int. V. 102, p. 345. In M a y 1915 canuoo collect t l s for use of Point and Smlthfield St. bridges, seo V .90*
ol
a cash div. of 1 H % was paid; Aug.. 14$%: Nov., 1 4$ %. In 1916, Q H % ■
In 1917, 7%. In 1918, Jan., 14$% (V. 105, p. 2457); May, 14$%.
* F a r e s . — An agreement, effective Jan. 22 1918, was rcachod botweon tho
*
L i n e a r T a x D e c i s i o n . — For decision of Supreme Court of Pennsylavnla
city and tho company, and approved by tho P. S. Comm., by which fares
declaring the linear tax ordinance invalid, see V. 80, p. 1729.
were increased from 5 to 6 cents (or 10 tickets for 55 conts), and 10 conts
A p p l i c a t i o n D e n i e d . — Attorney-General Todd of Pennsylvania on Oct.
s
24 1907 denied the application of city authorities of Pittsburgh for permis for night fares, except in tho city of Pittsburgh, whero tho night faro i to
sion to bring quo warranto proceedings to forfeit the company's charter, bo tho same as day faro, without transfer privileges. V. 106, p. 397.
Comparo V. 106, p . 190. Tho Ponn. Supromo Court in Jan. 1918 denied
see V.85,p. 1083.
the petitions for injunctions against company’ increaso in faro schcuulo
s
R E P O R T . — Report for years ending Mar. 31: [Philadelphia Co., Equit brought by tho boroughs of Bellevuo and Millvalo and tho city of M c
able Gas Co., Monongahela Natural Gas Co., Pittsburgh & West Virginia Keesport. V. 105, p. 2543. On M a y 19 1918 tho recoivors announced tho
Gas Co., The Philadelphia Co. of W . Va.— Transactions between com establishment of a new faro schedulo to become effectlvo Juno 20 1918,
providing for a 7-cent day fare on somo of tho longer routes, and a universal
panies eliminated.] 1917 report in V. 104, p. 2112.
10-cent night faro.
,
„, „
1913-14.
1914-15.
1915-16.
1916-17.
R e c e ip ts —
Wa
I n r s — On
1917 increased carmens wages
$9,171,612 $7,990,132 $7,037,719 $7,224,637 hour. g e On cM e ay e .1 1918 Dec. 22 a further increaso of 5 conts per 24$c. per
From gas_______
a
granted
hour, tho
394,107
217,747
(a)
From oil________
38,900 men signing a 1-year agreement. V. 106, p. 2011.
33,287
38,387
.
38,536
Miscellaneous___
R O A D . — Tho Pittsburgh Railways Co. operates 605.25 miles of track in
Equlpmon* consists of 1,441 closed
$9,210,148 $8,028,519 $7,288,753 $7,657,644 Pittsburgh and outlying boroughs.
3.424.686 cars, 371 open cars and 235 miscellaneous cars. Has long-time contract
3,406,884
3,405.046
4,093,992
with.Duquesne Light Co. for supply of light and power.
$5,116,156 $4,623,473 $3,881,869 $4,232,958
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g . M a t u r it y .
1.690,086 Com. stock. $2,500,000-($50)............. $2,500,000 .........
1,803,097
a2,405,997 a2,192.968
626 Prof. 5%.cum, $2.500.000($50).............
642
608
693
Rents___________ — _
2,500.000
---
508,787
463,819 Gen mtge, $20,000,000, red) 1913
464,471
424,192
Interest, discount, &c__
5 A-O
2.539.000....... 1953
at 106 & int aft Apr 1918.t I Guaranty Trust Co., N. Y., trusteo.
$6,387,489 Income debs. $10.000.000— f 1913
$7,947,038 $7,281,520 $6,194,395
tf
........10'922'99Q -—
D ed u ct—
1911 5 M-S
108,000 See
$22,967 Oar trusts $270,000 ($1,000). Int. at co.’ office. Fidelity Title &text.
$23,694
$22,566
$23,086
Paid leased companies. _
s
Trust
1.854,379
1,940,548
1,906,825
Interest on bonds, &c_. 1,796,499
Co.. Pittsburgh, Trusteo.
tf
831,512
838,220
802,167
N e w wells, lines, &c___ . 1,215,180
1913 6 M-S
284,000 See text
181,696 Oar trusts $450,000 ($1,000). Int. at co’ office, Fidelity Title & Trust Co.,
193,575
163,770
■
153,497
Depreciation of property
s
Discount, taxes, S e c ., onl
Pittsburgh, Trusteo.
„
„
tf
437,821 Car trusts $110,000 ($1,000). 1916
74.941
64,965
57,500
securities sold______.
5 A-O
88,000
See text
161.983
208.655
386,268
.
235,450
Interest, discount, &c_
Colonial Trust Co., Pitts., Pa., trustee.
B im d s. — Of the gen. mtge. bonds, $4,000,000 are to retire Southern Trac.
Total
.......... $3,481,212 $3,346,561 $3,279,633 $3,490,358
Balance for year...... $4,465,826 $3,934,959 $2,914,762 $2,897,131 bonds and $13,461,000 (of which $3,461,000 in treasury) are for extona.,
Consol. Gas guaranty..
74,076
77,576
78,194
JS.766 betterments and Impts. V. 97, p. 444, 660. Phila. Co. owns $-117,000
Dlv. on pref. stocks___
476,644
471,966
471,941
399,122 of Gen. M. 6s outstanding and tho $10,000,000 income debentures. Car
Dlv. on com. stock..(7%)3,005,772(6) 2,363,364(5^)2049507 (7)2,729,967 trusts of 1911 mature $27,000 annually Mar. 1 1913, to 1922. $162,000 have
been retlrod. Car trusts of 1913 mature Mar. 1 1914 to Sept. 1 1925 incl.
$166,000 have been retired. Car trusts of 1916 mature $11,000 annually
Total............ $3,556,492 $2,912,906 $2,599,642 $3,207,855
Sur. or def. for year...sur.$909,334sr$l,022.053 sr$315,120 def$310,724 April 1 1917 to 1926. $22,000 have been retired.
G u a r a n te ed B o n d s —
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
a Income from o l In 1916-17 and 1915-16 i included in “Dlvs and Int.
i
s
$250,000 Jan 1 1938
recoived" in tho form of dividends on stock of the Phila. Oil Co. Results West Liberty & Sub. St. lstl 1908 6 g J-J
M $250,000 ($1,000) g— tfj lut. at Colonial Tr. Co., Plttsb., trustee.
of that co. for year end. Mar. 31 1917, wore: Gross, $368,527; total not
Income. $254,638; deductions, $71,448; dlvs. (5%). $100,050: surplus, $83.
D eb t o f O ld S o u th ern T r a c . C o .
—
139. In 1916: Gross, $277,273: total net income, $198,873; deductions. So Trac 1st M, coll t . g, $4.-f 1900 6 g A-O
r
4,000.000 Oct 1 1950
$56,936: divs. (5%), $100,050; surplus, $41,887.
000.000 ($1.000)___ c*_tf lint, at Union Tr. Oo.. Pittsburgh, Trustee.
West End Traction gen M.f 1898 5 J-J
981.000 Jan 1 1938
L A T E S T E A R N I N G S . — For 11 months ending Feb. 28:
$1,500,000.......... tfI Int. at Union Tr. Co., Pittsburgh, Trustee
------ C ro ss ------ -------- N e t U n d e r ly in g lo a n s o f W e st E n d T r a c tio n —
. .... .
1917.
D e p a r tm e n t —
1918.
1917.
. . 1918.
170,000 July 1 1924
Natural gas........... $9,470,419 $8,101,531 $4,482,154 $4,486,763 Pittsburgh Crafton & Mans- ( 1894 5 J-J
field 1st M .......... tfI Int. at
PittsburghTrust Co.,Pittsburgh.
Oil ................
718,532
314,489
492,677
208,078
Pitts & West End 1st M — -tf 1892 5 J-J
343,000 July 1 1922
Coal...... .......... 1,549,771
.......
650,554
.......
Electric light and power. 8,943,988
6,592,324 2,426,594 2,718,886
B o n d s . — The Southern Traction mtge. cannot be callod bofore maturity.
Street railway...... ...12,713,341 12,635.755 2,986,913 4,122,499 The Farmers’ Deposit National Bank of Pittsburgh offored tho bonds for
OFFICERS. &c.— J. H. Reed, Pres.; James D. Callery, V.-P.; C. J. sale In Oct. 1900. See V. 71. p. 864. Of the portion of tho 6s of 1898 of
tl
Braun Jr., Treas.; W . B. Carson, Sec.; C. S. Mitchell, Comp.; Carroll tho Wost End Traction s i l unissued, $519,000 aro reserved to retire undors
Miller. Gen. Mgr. Office, 435 Sixth Avo., Pittsburgh,-Pa.— V. 106, p. 1vln r bonds. Bonds of the West Llborty & Sub. Si. are guaranteed by
Pitts. Rys. Co., they are not subject to c l , and have no sinking fund.
al
86, 296, 602, 822, 930, 1231, 1578, 1797, 1901, 2123.
Ma y , 1918.]
E L E C T R IC
A N N U A L REPOItT.— All companies owned, controlled and operated by
Pittsburgh Railways Co. for year ending Mar. 31:
1917.
1916.
1917.
1916
$
$
$
$
414,702
389,106
Gross earns..13,350,349 12,268,754 Interest....
’
Net (aft.taxes) 4,296.312 4.480,389 Rent, ls'd line 2,948,000 2,850,727
131,978
123,804
Other income.
172,082
107,435 Mlsc. int., &c.
Total Income. 4,468,394 4,587,824 Balance, surp. 973,714 1,224,187
F r o m the surplus as above In 1916-17 ($973,714) there were deducted
lnt. on Income debentures, $600,000: disc, on securities sold, $1,798; de
ferred acct., portion written off, $91,278, and extraordinary expend, for
Impts., &c.. $272,164, leaving a surplus for the year of $8,474.
L a te s t E a r n in g s . — See Philadelphia Co. above.
OFFICERS.— Chairman of Bd., J. D. Callery; Pres., S. L. Tone; V.-P.,
J. II. Reed: V.-P. A Gen. Mgr.. P. N. Jones; Sec., W . B. Carson; Treas.,
C. J. Braun Jr.; Controller, C. S. Mitchell.— V. 106, p. 190, 397, 822, 930,
1127, 1231, 1797, 2011. 2123.
(a) Mount Washington Street Ry.— A trolley road.
O R G A N I Z A T I O N . — Incorporated in Pennsylvania on Oct. 8 1901 and
later absorbed the Sycamore Street Ry. A b o own* the entire ($500,000)
capital stock of the Mount Washington Tunnel Co. Stock of the Mount
Washington Street Ry. i owned by the Pittsburgh Rys. The road i
s
s
leased to the Pittsburgh Railways Co. for 995 years from April 1 1903 for
a chargee, including bond Interest.
ll
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock SI 500.000 ($50)----- -----------$1,500,000 ---------1st mortgage and* col tr.f 1903
5 g A-O
1.500.000 April 1 1933
$1,500,000, gold ($1,000),]Penn. Co. for Insurances on Lives & Grantguar prin and lnt-_-C*-tfl ing Annuities, Philadelphia, Trustee.
Bonds are guaranteed, principal and interest, by endorsement, by the
Philadelphia Co. Interost payable In N e w York, Pittsburgh and Phila
delphia. N o sinking fund and bonds cannot be called. The stock of the
Tunnel Co. has boen pledged as collateral undor this mortgage. See
V R O A D . — Operates 12.737 miles of track from Pittsburgh to Mount
Lebanon. Gauge, 5 f . 2>4 In.— V. 80, p. 222.
t
(b) Washington & Canonsburg Ry-— A trolley road.
Default and Subsequent Payment.— See Pittsburgh Railways above.
Stock all owned by Pittsburgh Rys.
O R G A N I Z A T I O N . — Incorporated in Pennsylvania on June 2 1902.
Successor on Juno 2 1902 to tho Washington Electric Street Ry. In Jan.
1909 Pitts. Rys. began operating the property. F r a n c h is e s perpetual.
Leased in 1907 tho Pitts. Canonsburg & Wash. St. Ry.
STOCK A N D BONDS—
D a le .
In terest
O u ts ta n d in g .
M a t u r it y .
Stock $1,000,000 ($50)-------...... $1,000,000
Wash Elec St Ity 1st M ---- - 1897 6 8 t i
125,000 Feb 1 1927
First mortgage
$650,0001 1902 5 g J-J
475.000 July 1 1932
eold
- ____ cAr tf lint, at Colonial Tr. Co., Pittsburgh, Trustoe
Second'" mortgage $500,00011913 5 J-D
185.000 Doc. 1 1943
($1 000); rod at 102 & intjlnt. at office of co. or Colonial Trust Co.,
on io woeks’notice... tf l Pittsburgh Trustee.
B o n d s . — On 1st mtge. bds. a s in k in g f u n d of $5,000 per annum becomes
operative after 5 years; $50,000 have beon canceled. $125,000 of the new
bonds are reserved to retire the bonds of tho Washington Electric Street Ry
The 2d mtge. bonds outstanding are owned by Pittsburgh Rys. Co.
R O A D — Operates 12.737 miles in ami between Washington, Tylordale
and Canonsburg.— V. 85, p. 532; V. 87, p. 348; V. 88, p. 626; V. 106, p..88
(c) Pittsburgh Canonsburg & Washington Rv.
Default and Subsequent Payment.— Sco Pittsburgh Railways above.
O R G A N I Z A T I O N . — In 1907 was leased for 30 years to the Washington
& Canonsburg Ry.. which guarantees bonds, principal and interest.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock <1.500 .hare, o ow„<Xl ^ PJtt.bl.gh By..,. ^
il
^
^
;^
1st M. $750,000 ($1,000) gold! Safe Deposit Trust Co.. Pitts., trustee. Int
tf( at company s office, Pittsburgh.
Second mtg $500,000 ($l.-[ 1913 J J-D
89,000 boc. l 1943
000)* red at 102 & int on{Int. at office of co., Pittsb., or Safe Doposit
10 weeks* notice____ tfl & Trust Co.. Pittsb., Trustee.
B o n d s — 1st mtge. bds. aro redeemable at 105 and int. on any int. date;
guar n. A i , by Washington A Canonsburg Ry. and Pittsburgh Rya.
.
Second mortgage bonds outstanding are owned by Pittsburgh Rys. Co.
R O A D . — Operates 12.02 miles of track botwnen Canonsburg and
Castle Shannon. 80-lb. r ils.— V. 88, p. 625, V. 106, p. 87, 1231.
a
( l Other Controlled Properties.— B o n d e d d eb t.
i)
Undor date Dec. 1 1913 the following named companies controlled by the
Pittsburgh Ry. Co., as shown above filed mortgages to secure issues of
1st M . 5 % gold bonds (int. J. A D.c*tf) due Dec. 1 1943 (par $1,000) but
callable, a l or part, at 102 and int. on 10 weeks notice. Tho outstanding
l
amount in each case i owned by tho Pittsburgh Rys. Co.
s
N a m e o f C om pany—
T o ta l A u t h . T o ta l I s s u e d .
T ru stee.
Cedar Avenuo St. Ry. C o ....... $40,000 339,000 Co . Tr. Co.. Pittsb
Bon Air Streot Ry. Co........ .100,000
45,000 Co . Tr. Co.. Pittsb
West Shore Elec. St. Ry. C o .... 100,000
85,000 Co . Tr. Co.. Pittsb
Superior Ave.& Shady Ave.St.Ry. 65,000
65,000 Col. Tr. Co., Pittsb
Allenport Sc Roscoo Elec. St. Ry.-500,000 127,000 Union Tr. Co..Pitta)
(2) United Traction Co. of Pittsburgh.
D e f a u l t — B on d h old ers' P ro te c tiv e C o m m itte e . — In view of the default by
the Pittsburgh Railways in payment of tho Jan. 1 1918 interest on tho
United Traction Co. 5 % bonds duo in 1997, and on tho bonds of various
other companies named under Pittsburgh Rys. Co. above (interest on
thoso lattor was paid in March 1918— V. 106, p. 1232), tho following com
mittee was formed to protect a ll tho several bond issues affected. Chair
man Thos. S. Gates; Geo. I . Frazier, J. Rutherford McAllister, B. Howell
I
Griswold Jr., John I . Mason, A. A. Jackson, C. S. W. Packard and A. C.
t
Robinson. Depositaries: Philadelphia Trust Co., P i l . People’ Savings
lia;
s
& Trust Co. or Pittsburgh and Safo Deposit & Trust Co. of Baltimore.
V 100 1 1232.
)
O R G A N I Z A T I O N . — Incorporated on July 27 1896, and in June 1897
purchased a l the property and franchises of tho Second Ave. and North
l
Side traction companies, and secured control of the Pittsburgh Allegheny &
Manchester through a leaso for 950 years and the purchase of i s stock.
t
V 65 P 27. Tho Federal St. A Pleasant Valley Passenger Ry. i controlled
s
th’
rougn I s leaso for 950 years to the North Stdo Traction. In 1902 leased
t
the Pittsburgh & Birmingham Traction Co.. East McKeesport Street Ry.
and tho Pittsburgh Sc Charleroi Streot Ry.
In March 1899 tho Philadelphia Co. offered to give $6,375,000 of I s com
t
mon stock In exchange for the $17,000,000 common stock of the United
Traction See V. 68, n. 479. In Oct. 1899 exchange of stock under this
plan was begun anil a l shares havo been acquired and aro now owned by
l
Pittsburgh l j i w l V
iilfiS
On Jan. 1 1902 the Pittsburgh Railways Co. took over this property,
and. under the terms of the operating contract, agrees to pay current divi
dends of 5 % on tho prof, stock. Tho agreement was until Jan. 1 1907 and
thereafter until terminated by three months notice from either party.
Tho Jan. 1915 and subsequent divs. on tho prer. stock were passed. In
Feb. 1917 tho managomont offered to each pref. shareholder of the United
Traction Co. 66 2-3% or his holdings in a 5 % mortgage bond of the Pitts
burgh Rys. Co., to bo guar., p. & L, by the Philadelphia Co.; or, as an
alternate proposition, $25 in cash for each share of stock (par $50). V . 104,
p. 665. 1389. 59,029 shares were acquired.
O u t s t a n d i n g . D i v . o r M a t.
STOCK A N D BONDS—
D a le .
I n te r e s t
*$17,000,000 July’ .^%
12
C o m stock, $17,000,000 (350).....
J-J .
3.000,000 See text
Pref, cum, $3,000,000 ($50)......
5 J-J
4,804,000 July ---United Trac gen in, gold,/ 1897
5 g J-J
- 1 1997
$10,000,000 ($1,000)-.c*tf\Maryland Trust Co., Baltimore, Trustee.
Interest i payable In N e w York City.
s
Pitts Alleg Sc Manchester..tf___
5
1 1930
Second Avo Trac mtge, gold/ 1894
5 g J-D
2,026,000 Dec 1 1934
($1,000)...... ...c*.tf(Maryland Trust Co., Balto., Md., Trustee.
Interest at Brown Bros. & Co., N. Y., or A. Brown & Sons, Baltimore.
2 d Avo Traction Co mtge— tf 1893
5 J-J
, 419.000 July 1 1933
Loans payable Doc 3 1 1917.. __
_______
1,585,671 --------• All owned br Pittsburgh Rys. Co.
The United Traction receives tho entire earnings of tho North Side
Pitts. A. Sc M. and Second Ave. traction companies, subject only to annual
charges of $259,800.
D iv i d e n d s . — On p r e fe r r e d divs. at the rate of 5 % annually were paid to
July 1914. Jan. 1915 dlv. passod, V. 100, p. 55. None sinco. See
remarks abovo. On c o m m o n ,
paid July 2 1903 and 14% each six
months to and including Jan. 1912. In July 1912, H % - None since.
R A IL W A Y S
101
B o n d s . — The new United Traction mortgage i limited to $10,000,000
s
bonds cannot be redeemed before maturity; Maryland Trust Co. of Baltmore i trustee. Of those bonds, $5,196,000 are reserved to retire the divi
s
sional bonds above mentioned. Bonds are listed on the Philadelphia and
Baltimore Stock Exchanges.
R O A D . — Controls 240.343 miles of track in a l
l.
R E P O R T . — Not now an operating company.
OFFICERS.— Pres., James D. Gallery; V.-P., J. H. Reed; Sec., W. B.
Carson; Troas., O. J. Braun Jr.; Controller, C. S. Mitchell. Office, Pitts
burgh, Pa. Financial agents, Alexander Brown A Sons, Baltimore, M d.—
V. 104, p. 665, 1389; V. 106, p. 88, 397, 823, 1127, 1232.
LINES C O N T R O L L E D B Y U N I T E D T R A C T I O N CO. O F PITTS.
(a) Federal Street & Pleasant Valley Ry.— Trolley.
D e f a u l t a n d S u b seq u en t P a y m e n t . See Pittsburgh Railways above.
—
O R G A N I Z A T I O N . — Incorporated Feb. 20 1808, and has since consoli
dated i s various subsidiary companies. The f r a n c h i s e i perpetual.
t
s
The North Side Traction Co. on July 20 1896 leased the Federal Street A
Pleasant Valley for 960 years, assuming i s debt, and agreeing to pay as
t
rental a l taxes, rentals, Ac., and also $70,000 yearly in cash, payable Jan. 15
l
and July 15, equal to 5 % on the $1,400,000 stock, of which i owns $750,
t
000. V. 63, p. 31, 76. 189.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
Stock (par $25), full paid____ ____
5 J-J
$1,400,000
See text
Consol mtge. $1,250,000. g./ 1892
5 g J-J
1,073.000 M a y 1 1942
($1,000), on 28 miles._c*tf\Int. at Fidelity Title & Tr. Co., Pittsburgh.
U n d e r ly in g m o r tg a g e s —
Fed St & PI Val mtge.... tf 1889
5 J-J
92,000 July 1 1919
Allegheny A Bell 1st mtge..tf 1890
5 J-J
18,000 Nov 1 1920
Allegheny St 1st mort____ tf 1890
5
27,000
1920
Perry St 1st mortgage____ tf 1890
5 J-J
3,000 Nov 1 1920
Troy Hill 1st mortgage____ tf 1890
5 J-J
37.000 Nov 1 1920
B o n d s . Tho consolidated mortgage of 1942 I for $1,250,000, of which
—
s
tho balance unissued i in the hands of trustee to retire a l the other issues;
s
l
mortgage trustee i the Fidelity Title A Trust Co., Pittsburgh. All the
s
abovo issues are guar,, p. A L. by United Traction Co.
H O A D . — Embraces 34.53 miles of track (including sidings) on about 17
miles of street; rails mostly 90-lb. girder.— V. 106, p. 85, 929, 1230.
(b) Pittsburgh & Birmingham Traction.— A trolley road.
On Jan. 1 1902 leased for 999 years to the United Traction Co., which has
agreed to pay a l interest, taxes, Ac., and also $150,000 annually as rental.
l
Lease i guaranteed by the Philadelphia Co.
s
O R G A N I Z A T I O N . — Incorporated Aug. 15 1889; Nov. 19 1889 leased
P. A B. Passenger Ry., including South Side Pass. Ry. Co. Also leased
and operated from Dec. 1891 Pittsburgh Incline Plane Co. and Mt. Oliver
Incline Plane Co.; operated also Birm. Knoxville A Allentown Traction Co.
In Aug. 1900 purchased the $400,000 capital stock of the West Liberty
Street Ry. and constructed a line to Mt. Lebanon. V. 71. p. 343.
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
Text$3,000,000
See text
Stock ($50)_____________ _____
1st M guar p A i by United/ 1889
5 g M-N
1,500.000 Nov 1 1929
Tr Co ($1,000)_____ c*tf(Fidelity Trust Co. of Philadelpnia, Trustee.
The So Side Pass Ry 1st M l 1913 5 A-O
10.000 Oct. 1 1953
($1,000) not sub to call-.tf\lnt. at Colonial Trust Co., Pitts., Trustee
G u a r a n te ed B o n d s —
Birin Knox A A 1st mtge,/ 1891
6 g M-S
500,000 Sept 1 1931
gold, interest guaranteed.. (Fidelity Trust Co., Philadelphia, Trustee.
Brownsville Ave St R y 1st M . 1896 5 F-A
300,000 Aug 1 1926
West Liberty St Ry 1st mtge. 1/1900 5 g J-J
400.000 July 1 1930
( Pittsburgh Trust Co.. Trustee.
R O A D . — Operates 30.5 miles of track, laid with 90-lb. r i s
al.
A N N U A L R E P O R T . — Not now an operating company.— V. 72, p. 776.
L i n t s l e a s e d to P ittsb u rg h A B ir m in g h a m T r a c tio n C o .
Mt. Oliver Incline Ry.— Owned, leased and operated by Pittsburgh A
Birmingham Traction Co. Stock, $100,000. Bonds, 1st M. 6s, (cpt) M. A
N., due M a y 1 1954. $41,500. Red. at 105 and i t Colonial Trust Co.,
n.
Pittsburgh, trustee.
D e f a u l t a n d S u b seq u en t P a y m e n t . See Pittsburgh Railways above.
—
Pittsburgh Incline Plane.— Leased for 999 years to Pittsburgh A Birm
ingham Traction Co., at rental equal to interest on bonds and 10% on
$150,000 stock, free of taw; dividends were 9 % yearly for some time, balance
being carried to surplus, but were increased some time prior to Jan. 1 1902
to 10%.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock (par $1001 full paid___ ____
Q-F
$150,000
See text
1st mtge ($1,000 each)._.c*tf 1889
6 J-J
150.000 July 11919
ROAD.-— Road extends from Forty Hill, Pittsburgh, on Bradford Street,
to Washington Avenue, on top of h l . V. 71, p. 343; V. 106, p. 87.
il—
( ) Pittsburgh & Charleroi Street Ry.— A trolley road.
c
Stock owned by Pittsburgh Rys.
O R G A N I Z A T I O N . — Incorporated April 19 1902 and took over the Char
l roi A West Side Ry.; i leased to the United Traction Co. for 900 years
e
s
from M a y 15 1902. Rental i $1,000 per year. Bonds are guaranteed,
s
principal and interest, by the United Traction Co. and the Philadelphia Co.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Stock $2,500,000 ($50)............... ...... $2,500,000 ..........
5%
55,000 Sept 1 1919
Charleroi A West Side 1st M . t f ___
Pitt* A Charleroi 1st M $2,-( 1902 5 g M - N
2,445,000 M a y 1 1932
600,000
gold (*l,000).c*tf\lnt. at UnioniTr. Co.. Pittsburgh, Trustee.
Pitta A Charleroi 2d M $1.- 1913
5 J-D
522,000 Doc 1 1943
000,000 ($1,000) red at 102/Int. at company’ office or Union Trust Co..
s
A int. on 10 weeks' notlcetf I Pittsburgh, Trustee.
B o n d s . — Of tho Pittsb. A Charleroi 1st M. bonds. $55,000 i roserved to
s
retire a like amount of Charleroi A West Side bonds. See V. 74, p. 1039.
8eoond mtge. bonds outstanding are owned by Pittsburgh Rys. Co.
R O A D . — Operates a road between Pittsburgh and Allenport, by way of
Castle Shannon, Finleyville, Monongahela City and Charleroi, a distance of
43.38 miles. Completed In Sept. 1903.
OFFICERS.— Pres., S. L. Tone; Sec., W. B. Carson; Treas., O. J.
Braun Jr.— V. 74, p. 1039. 1090: V. 76. p. 752.
(d) Allegheny Bellevue & Perrysville Ry.
O R G A N I Z A T I O N . — Incorporated in Pennsylvania on Feb. 8 1905. E n
ti e stock i owned by the Pittsburgh Rys. Is leased to tho United Traction
r
s
Go. for 995 years from March 1 1905 at a rental of 10% on the stock.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
10%
$250,000
See text
8tock $250,000 ($50)...........
1st mtge $500,000 gold guar? 1905
5 g A-O
500,000 April 1 1935
($1,000)___________ ctflPenn. Co. for Ins. on L. A G. A..Phil..Trust.
B o n d s . — Are guaranteed, prin. A i t., by Phila. Co.
n
Interest i payable
s
at company’ office or by Brown Bros. A Co.. N. Y. and Phila. N o sink
s
ing fund and bonds are not subject to c l .
al
R O A D . — Operates 16.67 miles or track from Allegheny, via Westvlew. to
Bellevue. Gauge, 6 f . 2 i .
t
n
( ) Ben Avon & Emsworth Street Ry.
e
O R G A N I Z A T I O N . — Incorporated in Pennsylvania on June 17 1903.
Entire stock i owned by the Pittsburgh Rys. Is leased to the United Trac
s
tion Co. of Pittsburgh for 995 years from April 1 1906 at 5 % on stock.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Stock $100,000 ($50)......... .
A-O
$100,000
See text
1st mortgago $300,000 gold? 1906
5g
300,000 April 1 1936
guar _______________ tf]Fidelity Title A Trust Co., Pittsb., Trustee.
I
Interest at Co’, office.
s
2d M $100,000 ($1,000) subf 1913
5 J-D
79,000 Dec 1 1943
to call at 102 and int on 10{Int. at co's office or Fidelity Title A Trust
weeks' notice________ tfl Co., Pittsburgh, Pa., Trustoe.
B o n d s . — 1st M . bonds are guaranteed, prin. and i t., by the Philadelphia
n
Co. 2d M . bonds outstanding are owned by Pittsburgh Rys.
R O A D . — Operates 5.165 miles of track from Avalon to Dlxmont. Gauge.
5 f . 214 i
t
n.
OFFICERS.— Pros., S. L. Tone; V.-P., J. H. Reed; Sec.. W. B Carson
Troas.. O. J. Braun Jr.
( ) East AlcKeesport Street Railway.
f
Entire stock I owned by Pittsburgh Railways.
s
O R G A N I Z A T I O N . — Incorp. In Ponna. on June 26 1899. Is leased to
United Traction Co. of Pittsburgh for 900 years from Jan. 1 1902.
Stock, $250,000 ($50); 1st M. 5 % gold bonds. $250,000 ( f ($1,000).
t)
Dated Dec. 1 1899. Due Doc. 1 1929. Int. J. A D. at Fidelity Title A
Trust Co., Pittsburgh, trustee. Miles, 8.27.
102
E L E C T R IC R A IL W A Y S
(3) Consolidated Traction.— Trolleylroad.
O R G A N I Z A T I O N . — Chartered July 15 1895. The company absorbed
the Fort Pitt Traction Co. (a consolidation of Fort Pitt Pass. Ry., Gross
Street Ry., Highland Park Street Ry. and Negley Street Ry.), and assumed
I s leases of the Citizens’ and the Allegheny Traction companies, and has
t
acquired the control of the Pittsburgh, the Duquesne and the Central Trac
tion companies. In 1902 leased the Monongahela St. Ry. and the Subur
ban Rapid Transit Street Ry. Owns a stock of the Ardmore Street Ry..
ll
and guarantees i s bonds, principal and interest. V. 88, p. 882.
t
On Dec. 4 1901 the stockholders of Philadelphia Company approved
plan for absorbing the shares or the Consolidated Traction. See terms
InjV. 73, p. 1112. 286,880 shares common and 233,117 shares preferred
have been so exchanged.
STOCK A N D B O NDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n stock ($50)_____________
J-J *15,000.000 July ’
12, 1 %
Pref stock 6 % cum ($50)___ _ __
_
6 M-N
12,000,000 Nov ’
13, 3 %
Equipment trust certificates 1914 5 A-O
325.000
See text
$500,000 Series *B ”_.... Union Trust Co., Pittsburgh, trustee.
‘
Car trust bonds $200,000 gold 1916 5 g A-O
160,000
See text
($1,000) Series •*C” __c*tf Colonial Trust Co., Pittsburgh, Trustee.
Car trust bonds $800,000 gold 1916
_____ _ __
_ _
5 g A-O
680,000 See text
($1,000) Series “D ”____ tf (Union Trust Co., Pittsburgh, trustee.
Car trust bonds $200,000 gold/ 1917
5 M-N
200,000
See text
($1,000) Series “E ”----- (Fidelity Title & Tr. Co., Pitts., Pa., trustee.
Fort Pitt Trac mtge $1,000,-/ 1895
5 g J-D1,000.000 Dec 2 1935
000 ($1,000) g not red c* tf\Int. at Pittsburgh Tr. Co., Pittsb., trustee.
Notes payable Dec. 31 1917______
___ ____
947.822 _________
S to c k . Tho pref. stock carries cum. divs. of 6 % per annum and has the
—
right to participate equally with the com. stock when that has received 6%.
Ail arrears or divs. were paid up In Jan. 1903. V. 76, p. 48. First div. of
1 % on c o m m o n paid Jan. 2 1903; then 1 % July 1903; 1904 to 1911, i cl..
n
2 % per annum. In 1912, Jan.. 1%; July, 1%.
B o n d s . Tho equipment trust certificates Series *B ” mature $25,000
—
‘
semi-annually from April 1 1915 to October 1 1924: $175,000 have been
retired; they are secured by 100 cars costing $581,945. The Series "O ”
car trust bonds mature in ten annual installments of $20,000 each from
April 1 1917 to April 1 1926, inclusive. $40,000 have been retired. They
are secured by 50 cars costing $221,000. Free from Penna. State tax.
V. 102, p. 608. The Series “D ” car trust bonds mature $40,000 each
6 mos. from April 1 1917 to Oct. 1 1926 inclusive. $120,000 have been re
tired. They are secured by 175 cars costing $900,000. The Series *E ”
‘
car trust bonds are to be secured by 50 cars costing $225,000. They mature
in 11 annual payments commencing Nov. 1 1918.
The Fort Pitt Tract, bonds are secured by tho deposit of the shares of the
constituent companies out of which tho Fort Pitt Co., was formed, namely,
$300,000 Fort Pitt Pass. Ry. stock. $100,000 Gross St. Ry. stock, $100,000
Highland Park St. Ry. stock, $100,000 Negley St. Ry. stock.
R O A D . — Controls 227.278 miles of track In a l
l.
OFFICERS.— Pres., J. D. Gallery; V.-P., J. H. Reed; Sec., W. B. Car
son; Treas., O. J. Braun Jr.; Controller, O. S. Mitchell.— V. 102, p. 608.
(a) A rd m ore S tr e e t R y.
O R G A N I Z A T I O N . — Incorporated In Pennsylvania on Oct. 31 1907.
Road mostly on private right of way. Franchises in boroughs are perpetual
Consolidated Traction owns a the stock and guarantees the bonds, p l f ll
rfl
dpal and Interest. V. 88, p. 881.
M a tu r ity .
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
See toxt ........
Stock $14,000 ($50).......... .............
First mtge $1,250,000 gold/ 1908
5 g A-O
$1,032,000 April 1 1958
($1,000) ....... ... c*tfllnt. at Colonial Trust Co.. Pittsb., trustee.
B o n d s . — Remaining bonds are reserved for extensions and betterments.
N o sinking fund, but subject to call at 105 and Interest.
R O A D . — Operates 8.22 miles of track between Wilkinsburg and East
Pittsburgh.— V. 88, p. 881.
L i n e s C o n tr o lle d b y C o n s o lid a te d T r a c tio n C o .
(a) Allegheny Traction.
O R G A N I Z A T I O N . — Incorporated July 23 1890. April 1 1896 this
company was leased to the Fort Pitt Traction Company for 950 years at a
rental of $25,000 per annum. Lease assumed by Consol. Traction Co.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g . L a s t d iv .e tc .
Stock, $500,000 (par $50)........
5%
$500,000
See text.
G u a r a n te ed B o n d s —
Millvale Etna & Sharpsburg/ 1893
5 g M-N
741,000 N ov 1 1923
1st M
$750,000_ g.tf(int. at Pittsb. Tr. Co., Pittsburgh, Trusteo.
_
D iv i d e n d s . — The semi-annual dividend of 244 % due Juno 1 1901 was
passed, the proceeds being used to pay off the floating debt. In 1902,
444%: 1903 to 1917, i cl., 5%_per annum.
n
R O A D . — Including Millvale Etna & Sharpsburg, 22.708 miles of road.
(b) Central Traction.— Trolley.
D e f a u l t a n d S u b seq u en t P a y m e n t . — See Pittsburgh Railways above.
LEASE.— Incorporated Dec. 21 1888. Leased from April 2 1896 to
tho Consolidated Traction for 950 years at 3 % per annum on par value
of $1,500,000 stock (see V. 61, p. 1154); and In M a y 1896 stockholder*
wore offered privilege of exchanging their stock for receipts, which were
redeemed at $30 por share on Oct. 1 1896 in Consolidated Traction Co.
referred stock at par. 29,173 shares of Cent. Trac. stock (out of 30,000)
ave been so exchanged. V. 62, p. 1087.
S T O C K A N D B O N D S — M i l e s . D a t e . I n t e r e s t . O u ts ta n d in g . M a t u r it y
See
Stock ($50) see toxt............... 3 % A - 0 /30,000shs.\
(30 paid up |
text.
1st M $375,000 cable/
6
1889 5 J-J
$375,000 July 1 1929
line, $500.... ntfl
Interest at Union Trust Co., Pittsburgh.
g
B o n d s o f C e n tr a l P a s s e n g e r R y . c o n tr o lle d .
1st M $250,000 /
4
1894
6 A-O
125,000 Oct 1 1924
($l,000)-ntfllnterest at Union Trust Co., trustee, Pittsburgh.
D iv i d e n d s . — Feb. 1 1892, $2 50 in stock: in 1896, Feb., 2 % In cash;
In 1898, Nov., 144 % In cash; in 1899 and since 3 % per year.
R O A D . — 9.27 miles of road, of which i controlled by ownership of capt
tal stock. Central Passenger Ry., 344 miles.— V. 62, p. 948,1087.
(c Citizens’Traction.— A trolley road.
)
O R G A N I Z A T I O N . — Incorporated July 6 1887. O n Sept. 1 1887 pur
chased the entire capital stock ($200,000) of the Citizens' Passonger Ry.
which I now holds. Also owns stock of Asplnwall Street Ry.
t
LEASE.— Leased from Nov. 1 1895 to Fort Pitt Traction Co. (now
Consol. Traction) for 950 years at 6 % per annum on $3,000,000 capital
stock.
In addition the lessee agreed to pay a floating dobt of $175,000
and at maturity mortgago debt. V. 61, p. 661.
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
Stock ($50) fully paid....... ....
6 M-N
$3.000,OOOf.p. See text
1st mortgage ($1,000) Not/ 1887
5 A-O
686,000 Oct 1 1927
subject to call........ tflFid. Title & Tr. Co.. Pittsburgh Trustee.
B o n d s o f lin e s w h o s e sto ck s a r e ou m ed —
Penn. St. Pass. Ry. 1st M ___ 1892
5 J-D
250.000 June 1 1922
I n t e r e s t and dividends payable at Union Nat. Bank, Pittsburgh. Pa
R O A D . — Owns 30.02 miles of track on 15 miles of street.— V. 106, p. 818.
(d) Duquesne Traction.— A trolley road.
D e f a u l t a n d S u b seq u en t P a y m e n t . — See Pittsburgh Railways above.
LEASE.— Incorporated Jan. 25 1890. Leased from April 2 1896 to
the Consolidated Traction for 950 years at 4 % on the $3,000,000 stock,
but dividends for a year and a half were withheld for payment of floating
debt of $180,000. In May, 1896 stockholders were allowed to exchange
their stock for receipts, redeemed Oct. 1 1896 at $37 per sharo in 6 % pre
ferred stock of Consolidated Traction Company at par. 52,635 shares out
of 60,000 have been so exchanged. See V. 62, p. 1087.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock ($50) fully paid...... j --Text.
$3,000,000
See text
(Div. payable at Fidel. Tit. & Tr. Co.,Pittsb.
1st mortgage........ c*tf/ 1890
5 J-J
1,500.000 July 1930
\Fidelity Titlo & Trust Co., Pitts.,Trustee.
D iv i d e n d s were 5%, J J. but In 1893 and 1894 none paid; in 1895, 4%:
In 1896, none; in 1898, 3%; in 1899 and since, 4 % yearly.
R O A D . — At time of lease In 1896 controlled 11 companies, having at
present 37.17 miles of road.— V. 62. p. 948, 1087; V. 106. p. 85, 1230.
(e) Fort Pitt Traction.— See "Consol. Traction Co."
( ) Monongahela Street Railway.
f
O R G A N I Z A T I O N . — On M a y 26 1898, absorbed by consolidation the
Schenley Park & Highland. Homestead & Highlands, Braddock & H o m e
stead and the Braddock & Duquesne.
In Dec. 1901 tho Mononganela Street Ry., the Wilkinsburg & East
Pittsburgh Street Ry., the Wilkinsburg & Verona Street Ry. and the
Pitcairn & Wllmerding Street Ry. (construction of latter two roads com
[Vol. 106
pleted during the year 1903-04), were merged in the Mononghela Street R y .
and stock was Increased from $1,000,000 to $7,000,000. See V. 73.
p. 1112. On Jan. 1 1902 the Monongahela Street Ry. was leased for 999
years to the Consolidated Traction Co. for Interest, taxes, &c., and an
annual rental beginning with $165,000 the first year and increasing $18,750
each year until $315,000 i reached. Lease i guaranteed by Philadelphia
s
s
Co. First dividend under lease (2%) was paid in July. 1904. See V. 79.
p. 269. In 1905, Jan., 144%; July. 13-5%; in 1906. 3.26%; in 1907, 344 %;
In 1908.3.86%: In 1909. 4.12%:In 1910.4.37%; in 1911 and since, 444 %.
D e f a u l t a n d S u b seq u en t P a y m e n t o n P it c a ir n & W ilm e r d in g 5 s . See Pitts
—
burgh Rys. and United Traction Co. above, -d
-M *4 « Mi!jrtea
M
,d
STOCK & BONDS—
M i l e s .D a t e .' i I n t e r e s t . O u ts ta n d in g .
M a tu r ity .
Stock. $7,000,000--.........- ___ See text $7,000,000 See text.
Mon. St. Ry. 1st mtge. 7 17 1898 5 g J-D
.
1,000,000 June 1 1928
$1,000,000 gold------tf( Union Trust Co., Pittsburgh, Trsutee.
Wilk. & E. P. M ........ 1
$2,000,000 g ($1.000)---------1899 5 g M-S
2.000.000 Sept 1 1929
guar----------- c&r _tf1
WUk. & Vor. M., $700,0004 „
1901 5 g J-D
624,000 June 1 1931
g. ($1,000) - c & r ___ tff
Pt. & Wil. M . , $700,000, g.l —
1901 5 g J-J
588.000 July 1 1931
($1,000) c&r..tf....... /
B o n d s . The Union Trust Co. of Pittsburgh I trustee of a l mortgages
—
s
l
and interest i payable at Mellon National Bank. The Wilks.& Ver.bonds
s
are guaranteed,prin. & int., by Wilk. & E. Pitts. St. Ry. Co., Monongahela
St. Ry. Co., Consol. Traction Co. and Phila. Co. Co. of Pittsburgh.
R O A D . — Owns 70.4 miles of track, including branches; 90-lb. ra ls.
i
R E P O R T . — Not now an operating company.
OFFICERS.— Pres., W . L. Mellon; V.-P., A. W. Mellon; Treas., W.S.
Mitchell.— V. 72, p. 776: V. 79. p. 269, 627, 735.
(g) Pittsburgh Traction.— A trolley road.
O R G A N I Z A T I O N . — Incorporated April 30 1887.
LEASE.— Leased from April 2 1896 to the Consolidated Traction for 950
years at 7 % on the $2,500,000 stock (see V. 61, p. 1154) but 144 years
dividends were used to pay floating debt of $250,000. The f 7 % i now
ull
s
being paid. In M a y 1896 stockholders were offered receipts for their stock,
which were redeemed at $70 per share on Oct. 1 1896 in preferred stock of
Consol. Traction Co.; 49,500 shares out of 50,000 have been so exchanged.
See V. 62, p. 948. Pittsburgh Traction owns the $250,000 capital stock
of Bloomfield Street Ry. and guarantees the bonds.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
7 A-O 31 $38persh.pd.in.Seetext
Stock $2,500,000 ($50).. ........
1st mtge 5s. ........c*.tfj 1887
5 A-O
$750,000 Oct 1 1927
(Fidelity Title & Trust Co., Pitts., Trustee.
G u a r a n te e d B o n d s —
Bloomfield Street R y 1st ( 1893 5 F-A
250.000 Aug 1 1923
cur______________c*.tf\Interest at Pittsburgh Trust Co., Trustee.
S to c k . Issued 60,000 shares, on which $38 each has been paid.
—
D I V I D E N D S . — At company’ office, Pittsburgh. Dlvitiends in 1895
s
8%: In 1896, none— see above; in 1898, 544%; in 1899 and since, 7%.
R O A D . — Owns 18.51 miles of track.
(h) Suburban Rapid Transit Street Ry.
O R G A N I Z A T I O N . — Was leased on Jan. 1 1902 to Consolidated Traction
Co. for 900 years at an annual rental of $56,000, as well as paying a l charges,
l
Including Interest and taxes.
S T O C K A N D B O N D S — ■ D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $1,400,000...............
J-J
$1,400,000
See text
First mortgago, $200,000, gf 1913
6 g M-S
200,000 Sept 1 1953
($1,000)___________ c.tfjlnt. at Farmers’Dep Nat Bank, Pittsburgh.
( Colonial Trust C o . Pittsburgh,Trustee.
,
D iv i d e n d s . In 1903.4%;ln 1904.Jan.,2%; July,IK%;s!nce4% ner ann.
—
Road.— Operates 11.88 miles of track on 6 miles or street.
( ) Morningside Electric Street Ry.
1
O R G A N I Z A T I O N . — Incorporated In Pennsylvania on July 14 1904.
Entire stock i owned by Philadelphia Co. Is leased to the Consolidated
s
Traction Co. for 995 years from Sept. 30 1905 at a rental of 5 % on stock
and interest on bonds.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $24,000 ($50)............
5 A-O
$24,000 See text.
1st mtge $200,000 gold/ 1905
5 g A-O
200,000 Oct 1 1935
($1,000) guar prin and/Int. at office of Brown Bros. & Co., Phila.
int by Phila C o ____ c*-tf (Penn.Co.for Ins.onLives & G.A.,Phila.Trus.
R O A D . — Operates 3.31 miles of track. Gauge 5 f . 244 in.
t
OFFICERS.— Pres., S. L. Tone; V.-P.. J. H. Reed; Sec., W. B.
Carson: Treas., O. J. Braun Jr.
(4) Seventeenth Street Incline Plane Co.
O R G A N I Z A T I O N . — Is a reorganization on Dec. 28 1904 of the Penn. In
cline Plane Co. Entire stock I owned by the Philadelphia Co. Was
s
operated by the Pittsburgh Rys. Co. up to Jan. 16 1918. since whon I has
t
been separately operated.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $250,000 ($50)...........
........
$250,000 .........
1st mtge $125,000 ($1,000)/ 1905
5 cur M-S
125,000 M c h 1 1935
guar............. c*_tflint, at Colonial Tr. Co., Pittsburgh, Trusteo.
B o n d s . N o sinking fund, and bonds are not subject to cal . Are guaran
—
l
teed, prin. & int., by the Philadelphia Co.
OFFICERS.— Pres., S. L. Tone; V.-P., J. n. Reed; Sec., W. B. Carion; Treas., O. J. Braun Jr.; Controller, O. S. Mitchell.
( Beaver Valley Traction.— A trolley road.
5)
In July 1905 entlro stock was acquired by the Philadelphia Co. of Pitts
burgh. V. 81. p.506.
O R G A N I Z A T I O N . — Incorporated in Penn. In perpetuity June 29 1891*
and owns entire stock of B e a v er V a lle y S t. R y . and of C e n tr a l E le c tr ic S t. I l y
C o . , purchased Aug. 8 1891, operating them as one road under 999-year
lease. Charter and franchise perpetual.
In 1900 stock was increased from $300,000 to $1,000,000 and then pur
chased the stock and property or the People’ Electric Streot R y .of Roches
s
t the College & Grandview Electric Street Ry., the Rochester & Monaca
er,
Electric St. Ry. and the Beaver & Vanport Electric St. Ity.; also owns en
tire capital stock or Riverview Electric St. Ry. Co., the Freodom & Conway
Electric St. Ry. Co. and the Vanport Electric St. Ry. Co., none of which
has any soparate bond issue. In Jan. 1902 authority was given to In
crease stock from $1,000,000 to $1,500,000.
F a r e I n c r e a s e . In Dec. 1917 tho co. issued a new schedule of rates and
—
fares, effective Jan. 26 1918, in the boroughs of Beaver, West Bridgewater,
Rochester, Monaca, Freedom, Conway, N e w Brighton, Beavor Falls,
College Hill and surrounding territory, increasing the 5-cent faros to 6 cents,
adding a fare zone for through passengers from 12th St., Conway, to Vanport, and discontinuing the sale of cut-rate tickots in books of 21 for $1.
The new 6-cent tickets are to be sold in strips of 10 for 55 cents.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$1,075,000 _________
Stock $1,500,000 (par $50)--..............
1st con mortgago (closed) f 1900 5 g A-O
675,000 Oct 1 1950
gold------------- c*-tf(Int. at Pa. Co. for Ins. on Lives & Granting
I Annuities, Philadelphia, Trustee.
Gen mtge$3,000,000 ($1,000)1 1903 5 g M - N
957.000 Nov l 1953
gold-------------c*.tf/Int. at Northern Trust Co., Phila., Trustee.
Car trust bonds, gold, $72,-/ 1917
5 J-J
66,000 See toxt
000 ($1,000).... ...... .(Fidelity Title & Tr. Co., Pittsburgh, trustee
B o n d s . Of the gen. mtge. bonds, $675,000 are rosorved for prior liens
—
and the remainder for extens. and Improvements at 7 6 % of cost. SeoV.77,
p. 2158. Both issues redeemable at 110 and int.
The car trust bonds mature $6,000 Jan. 1 1919 to 1929 and are secured
by 12 motor cars.
R O A D . — Owns and operates 36.205 miles of track, connecting the various
towns and boroughs in the Beaver Valley, from Morado Park southerly, via
Beaver Falls, to Beaver and Vanport and to Rochester and Conway. Laid
with 90 l and 73-lb. girder ra l . Owns 45 closed and 9 open passenger
b.
is
cars and 9 miscellaneous cars
E A R N I N G S . — For fiscal year ending Mar. 31 1917, gross, $405,462;
net, after taxes, $135,627; other income, $1,064; int., ronts, &c.. $96,456;
lmpts. & betterments, $3,277; disc. on.securities sold, $433; surplus for
year, $36,524.
OFFICERS.— Pres., S. L. Tone; V.-P., J. H. Reed; Sec., W. B. Carson,
Treas.. O. J. Braun Jr.; Comp., O. S. Mitchell.— V. 77. p. 1224, 2158:
V.L81, p. 506, 1664, 1790:1V. 87. p. 345: V. 106. p. 295.
Ma y , 1918.]
ELECTRIC RAILWAYS
(6) P itts b u r g h & B eaver S tr e e t R a ilw a y C o .— A trolley road.
O R G A N IZ A T IO N .— Incorporated In Pennsylvania Jan. 23
1908.
Franchises perpetual. Capital stock $235,000 ($50 p a r), all owned b y
Philadelphia C o. Bonds authorized first m ortgage gold, $1,500,000
Issued, $750,000, all owned b y the Philadelphia C o .; dated July 1 1908,
due July l 1958 ( t f ) . Int. 5 % , payable Jail. & July at com pany s office
P itts. Union T r . C o . o f P itts., trustee. Are guar. p . & 1. b y Phlla. C o .
Fare In crea se— On O ct. 6 1917 a 6-cent fare becam e effective.
E A R N IN G S .— For fiscal year ending M a r. 31 1917, gross, $64,421; not,
after taxes, $13,061; oth . inc., $39; int. & diset., $59,356; d eficit, $46,256.
R O A D — Operates 14.99 miles In and between Baden, Beaver C ounty,
and Leetsdalo, Allegheny C ounty. P a. V . 105, p. 1802.
(7) C la ir to n S tr e e t R a ilw a y C o . A trolley road.
.
O R G A N IZ A T IO N .— Incorp. in Penna. M a y 5 1904. Capital stock
$30,000 ($50) all owned by Pittsburgh Railways C o.
R O A D .— Operates one mile o f track In the B orough o f C lairton, A legheny C ou n ty.
K L K O T R IO L IG I1T A N D P O W E R .
D iiq u e s n e L ig h t C o .— Entire com . stock Is owned b y the Phila. C o .
In Feb. 1912 the Duquesne Light C o. was purchased in the interest o f
Phlla. C o . (V . 94, p . 560). and in N ov . 19L2 It was merged with the M on ongahela L t .C o .a n d Oakm ont Sc Verona L t., I l t . & P . C o. In D ec. 1912
ft increased its stock from $3,000,000 to $25,000,000 preparatory to acquir
ing control o f tho olectric-lighting properties owned by the Phila. C o .
M erger effective Jan. 1 1913.
. .. „
. . . „
.u
Owns $849,950 out o f $850,000 stock o f the Pennsy. L t. & P. C o ., the
entire stock and bonds o f the Allegheny
C o ., the entlro stock
and $252,000 bonds o f tho Southern Fit., Lt. & P . C o ., the entire stock o f
the D iam ond L t. Sc P ow . C o .. Beaver C ounty Lt. C o .. M idland E l. L t. &
P . C o .. Pittsburgh-Beaver Light C o ., Brunot Island Bridge C o. and o f 42
miscellaneous electric-light and power'companiesi and $500,000 bonds (en
tire issue) o f the East E nd E lec. Light C o. On D oc. 31 1912 leased for 50
years tho Allegheny C o. L t. C o ., which in turn leases the Southern l i t . , L t.
& P . C o. and M onongahela L t. & P. C o. for 900 years from Jan. 1 1902.
In April 1916 purchased tho $150,000 6 % bonds or the Penna. Lt. H t.
& Power C o. which fell duo April 1 1916.
.
.
„
Franchise Is perpotual. Has contract extending to 1963 to supply all
electricity used by the Pittsburgh R ys. Also has contract with tho city o f
Pittsburgh for street and other m unic pal lighting hml power purposas
City Lighting Contract— On N o v . 19 1917 tho Pittsburgh C ity Council
adopted an ordinanco to authorize a contract with tho com pany to furnish
light to 20 wards o f tho city for ton years, the contract being based on nor
mal prices for labor and supplies; contract has sinco been signed.
In 1917 brought out an issue o f $3,272,251 5-yoar notes dated July 16
1917. whole issue being purchased b y tho Philadelphia C o.
In M a v 1918 it was reported that negotiations wero under way for the
Issuance in tho near futuro o f $3,000,000 6 % notes. V . 106, p . 1903,
Date.
Interest. Outstanding. Maturity.
STOCK A N D BONDS—
M on th ly $21,726,000 See text
C om m on $25,000,000 ($ 1 0 0 )-- ____
Q-F
5.941,000 M a y '1 8 .I H
7 % cum p f 810,000.000 ($100) . .
5 J-J 16
3,272,251 July 16 1922
5-yr notes (red at par & i n t )-- 1917
Ponds o f leased Cos.—
t/48,000 D oc 1 1949
1899
5 g J-D
Southern l i t L t & P 1st M
S300.000 ($1,000) g o l d .- t f l l n t . at Colonial T r. C o ., P ittsb., trustee,
onongahela L t & 1’ 1st M l 1899
6 g J-D
1,700,000 June 1 1949
$1,700,000 ($1,000) g ___t f j l n t . at M ellon N a t. Bank, Pittsburgh.
[Union T rust C o. o f Pittsburgh, trustee.
Pittsburgh-Beaver Light C o / 1917
5 M -N
565,000 N o v . 1 1927
1st M $565,000 ($1,000) g\Equitablo Trust C o .. N ow Y ork , trustee.
Beaver C ounty .Light C o -------- -----------------------508,500 -----------------Vailey Electric C o ------------------- ------------------- 210,000 -----------------V Remaining $252,000 owned b y Duquesne Light C o.
Stock.— Additional prof, stock m ay bo issued for additions, Impts. and oxtensions only. R ed . as a whole on any d iv .d a t e a t 115 and d iv. on
days
n°Dividends.— First d iv . on pref. stock, 154% . paid M a y 1915; same rate
quar. sinco. First quar. d iv. on co m ., 1 H % .p a i d M a r. 31 1913, S ept.,
151%
Sinco then d ivs. have been 7-12 % each m onth.
R E P O R T .— For year ending M ar. 31 1917;
1916-17.
1915-16.
1916-17.
1915:16.
Gross e a rn s ..$6,937,765 $5,368,025 Im pt. & b ett’s
$120,211
written o f f .
N et, a ft. taxes$2,890,885 $2,695,151
$7,331
Other in com e.
140,590
224,386 M isc. lo ss e s..
282,486
Depreciation .
246,568
397,466
205,702
T o t . not inc.$3,031,475 $2,919,537 Pref. d iv id ’d s.
In t..ren ts, &c. $541,946 $727,803 C om . d ivid ’ds 1,456,172 1,264.706
TUqp rn VP8
$48,304
on sale o f sec. 28.648
306,242 Surp. for year $317,426
LATEST EARN INGS.— See Philadelphia C o.
PROPERTY & c.— As o f M arch 31 1917, had a power station generating
canacitv o f 124.280 k. w .; 3,749 miles o f distribution lines; 351 miles o f
transmission lines; 65.63 miles underground conduit; p ,0 7 7 custom ers; total
capacity o f m otor supplied, 146,735 h. p ., suppliod 1,527,560'Incandescent
lam ps (50 watt) and 5.885 arc lamps.— V. 104, p . 1492; V . 105, p . 1107,
2187; V . 106. p . 818, 1903.
(a) P en n sy lv a n ia L ig h t & P ow er C o.
$849,950 o f the stock Is owned by tho Duquesne Light C o.
O R G A N IZ A T IO N .—Incorp. In Penna. Jan. 14 1901. Opor. separately.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
- - . - - r ------$?50,000 - - - - - - - - - Stock $1,000,000 ($50)............- - - - Penna Lt Ht & Power rntgof 1901
6 A -O
150,000 April 1 1916
$150,000 ($1,000)_____ n t f i l n t . at Colonial Trust C o ., P ittsb ., trustee.
These bonds wero purchased b y tho Duquesne Light C o. in April 1916.
E A R N IN G S .— For fiscal year ending M arch 31 1917, gross, $220,353.
net. after taxes, $70,250; other Incom e. $12,952; interost on bonds. & c..
$10,003; deprcc n. $36,306; surplus for year, $36,893.
A R T IF IC IA L G A S.
i l l Cnn<intldntcd Ci/is C o. o f P it ts b u r g h .
A ll the 'con im on a n d $148 TOO o f the pref. stock is owned by Phila C o .
T he Consolidated Gas C o. operates under a perpetual charter and with
tho Allegheny Illuminating C o. and the South Side Gas C o. constitutes the
only gas-manufacturing companies in tho city o f I lttsburgh and tho exclu
sive right to m anufacture illuminating gas is vested ini thorn.
Owns entire $2,000,000 stock and $2 ,000,000 bonds o f the Allegheny
Illuminating C o. and plodgos them u° d ® * t s f irst m ortgage.
r
Default.— Int. due Feb. 1 1916 on tho 1st M . 5s was defaulted, d e p o sit
o f bonds has beon callod for by tho following comrnitteo. O. S. W . I ackard.
Chairman; A . O. R obinson, Thom as S. Gates. E . S. Page, B . n o well G ris
wold Jr., D . II. Ilostotter and T . G . D aub; Sec., E . L. B rantigam , 517
Chestnut S t., Phila. Depositaries, Ponn. C o. for’ Ins. on Lives Sc Granting
A n n ., Phila., and Safe Deposit Sc Trust C o ., I lttsb. V . 102, p . 5 2 5 ,1989.
Equity Proceedings.— See under P h il a d e lp h ia C o. above.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
Com m on $4,000,000 ($50)..................
- - - - ; ------ So ’nnn’onn
m q - o S,Prof 4 % cum $2,500,000 ( $ 5 0 ) -----First mortgage $5,000,000 / 1898
5 g B-A
m., 1 1 9 4 8
($1,000) g old .................... t f [M aryland T m st C o ^ Baltim ore, Trustee.
Int. on bonds Is payable at Crown Bros. & C o .. N . Y ., and A lex. Brown
& Sons, Baltimore.
E A R N IN G S .— For yoar ond. M ar. 31 1917. gross, $98,360; net after
taxes (loss), $25,755; other incom o, $77,832; interest on bonds, & c.. $351,
280: deficit for yoar, $299,203 — V . 102, p. 525 ,19 8 9 .
(2 ) S o u th S id e Q as C o .
. . . . _
15,521 shares o f stock are owned b y the Philadelphia C o.
O R G A N IZ A T IO N .— Incorporated Jan. 25 1882 In Pennsylvania. Stock
authorized and Issued, $500,000 ($25).
W E S T PENN T R A C . & W A T E R P O W E R C O .— (See M ap on paneX M ).
O R G A N IZ A T IO N .— Incorp. July 11 1911 in W . V a. as the Black River
& W ater Power C o ., but in April 1912 was reorganized and capital increased
and name changed to abovo title in accordance with plan o f American
W ator W orks & Guarantee C o. (now American W ater W orks & Electric
C o .) in V . 94, p . 984. (See also detailed statement o f that com pany in
V . 95 p . 1537.) Owns ontiro com m on stock o f the W est Ponn Railways
C o . and $500,000 stock o f H yd ro-E lec. C o. o f W . Va. (seo bonds under
W est Penn Railways C o. below ), tho W ost Ponn Railways C o. owning tho
remaining $1,500,000 stock o f the Ilyd ro-E lec. C o.
103
STOCK—
D iv. Paid.
Outstanding. Last Div d.
C om m on $20,500,000 ($100)........................................$20,500,000 ---------- - - - Pref $6,500,000 ($100) 6 % cu m ____
Q -M 15
6 ,500,000 M a r .T 8 .l H
$14,344,000 com m on and $3,094,800 pref. stock is owned b y American
W ater W orks & E lectric C o.
Dividends.— On p ref., 1 H % quarterly from organization o f com pany to
and including M arch 1914. N one to M arch 1917, when 1 H % quarterly
was again resumed. V . 104, p . 864.
O F F IC E R S .— Chairman o f board, Samuel Insull; P res., A . M . L yn n !
V .-P s., John F. Gilchrist, C hicago, and W illiston Fish; V .-P . & S ec., R a y
m ond B . Keating; Treas. & A sst. Sec., H . S. Swift; A ud. & A sst. T reas..
O . C . M cB rid e. P ittsburgh.— V . 104. p . 864, 1265. 1704; V. 105, p. 1523.
WEST PENN R AILW AYS CO.
$6,500,000 com m on stock is owned b y the W est Penn T ra c. & W ater
Power C o . and the remaining $1,554,700 b y A m er. W ater W ks. & E lec. C o.
O R G A N IZ A T IO N .— A consolidation on June 15 1917 o f the old W est
Penn Railways C o . with tho Brownsville Street R y . C o ., Greensburg &
Southern E lectric St. R y . C o ., Latrobe St. R y . C o ., Latrobe-H ecla St. R y .
C o ., M asontow n-M organtow n St. R y . C o ., Pittsburgh M cK eesp ort &
Conneilsvillo R y . C o ., U niontown Radial St. R y . C o . and W est Penn
Interurban R y .C o . (all o f the capital stock o f which corporations had been
owned b y tho W est Penn liy s .), and with the W est Penn T raction C o .,
M cK eesport & Irwin R y . C o ., Pittsburgh M cK eesport & Greensburg R y .
C o . and W hite E lectric T raction C o. (for terms o f consolidation see V.
104, p . 1704). Prof, stockholders o f W est Penn T raction C o . and the old
W est Ponn Railways C o. were given the right to subscribe for 2 5% o f their
present holdings in additional new pref. stock at $82 per $100 share. W est
Ponn T rac. & W ater Power C o ., owner o f all the W ost Ponn T raction C o .
com . stock, was givon tho right to subscribe for S I,544,700 new co m . stock
at par. Owns all the com m on stock o f the W est Penn Power C o . and 75%
o f the stock ($2,000,000 out) o f tho H ydro-E lectric C o . o f W . Va. (see
bonds below and V . 97, p . 1586, 1736). C ontrols the W hoeling T raction
C o ., Greensburg Sc W estern St. R y ., Allegheny Valley St. R y ., Kittaning
Sc Loechburg R y ., Oakdale & M cD on a ld St. R y ., Pittsburgh-Allegheny
Valley T rac. C o .. M cK eesport & Duquesne Bridge C o ., Jefferson E lectric
C o ., Brooke Electric C o ., Belm ont E lectric C o ., Ohio Valley Electric C o .,
M ingo Jet. Light C o. and W heeling Valley L t. & Power C o . A lso owns
O lym pia Park, a summer resourt o f 76 acres within 2 miles o f M cK eesp ort.
Franchises are alm ost all perpetual. Practically all track and trans
mission linos outside o f m unicipalities are on private right-of-w ay.
Fare Increase.— In April 1918 filed with the P. S. C om m , a new fare sched
ule providing for an increaso in fares from 5 to 6 cents, effective M a y 11 1918.
STOCK A N D BONDS.
Date.
interest. Outstanding.
M a tu rity '
C om m on $10,000,000 ($100)_______
...................$8,054,700 - - - - - - - - -
Prof 6 % cum $10,000,000($100)____
Q— M ........... 7,365.300 M a r 1 8 ,1H
See text --------1st & ref M g o ld _______ _________ 5 %
W P T ract 1st M $25,000,0001 1910
5 g J-D
5,251.500 June 1 1960
gold ($1,000 & $ 5 0 0 ) ..c * t f Jlnt. at E quitable Trust C o ., N . Y .. trustee.
Old \VP Rys 1st M $6,000,000/ 1905
5 g A-O
5,667,000 Jan 119 3 1
($500 & $ 1,0 00 )______ c* tf\ In t. at Equitable T r . C o ., N . Y ., Trustee.
C oll tr M $6,000,000 g o ld / 1910
5 g A -O
2,864,000 Jan
11931
($1,000,$10,000&$50.000) r\Equitable Trust C o .. N ew Y o rk , Trustee.
P McIC S C 1st con m tg o / 1901
c
5 J-J
2,912,000 Jan
1 1931
$3,500,000 ($1,000) g o ld . .(In te re s t at Colonial Trust C o ., Pittsburgh.
C annot be ca lled _______ t f l Trustee.
,
.
Con Sub St R y m tge ($ 1 7 5 ,-/ 1902
5 g J-J
175,000 Jan
1 1932
000 guar (red at 105)______ \ ln t. at C olonial Trust C o ., P ittsb .,T ru ste e .
K itt & Ford O 1st M $50,000/ 1898
6 J-D
27.500 D ec
11928
gold ($1,000)....... .............c*\Pittsburgh Trust C o ., Pittsburgh, Trustee.
Allcg Vail St 1st & coll tr M
1906
5 g F -A
1,680,000 Feb
11936
$2,000,000 g not redeom a-(Interest at Union Trust C o ., 1 ittsburgh,
--------------- ---------c& rtfl
Trustee.
„
bio
Oakdale & M c D St R y 1st M s 1906
5 J-J
60.000 Jan
1 1937
g gu p&i b y W P R y s .n t f l i n t , at Colonial T r. C o ., Pittsburgh, t r u s t s ,
Pitts McIC & G 1st M $ l ,- i 1901
5 g J-J
1,500,000 July 1 1931
500,000 ............................... c In t. at narrisburg T r . C o ., Harrlsburgh, or
( M anufacturers’ T r. C o ., P rovidence, R . 1.
Hydro-Electric Co. o f West V a.—
„
- »
First m ortgage $25,000,000/ 1913 5 g A-O
See text April 1 1953
lin t , at Farmers’ Ln. & T r. C o .. N . Y .. trust.
Preferred Stock.— A fter 1918 no d iv . can be paid on the com . stock unless
ln addition to paym ent o f the pref. stock divs. in full, there has been re
served annually an am ount equal to 3 % on the then outstanding prer.
stock. N o additional prof, stock can be issued at any time unless the
earnings applicable to pref. d ivs. are twice the annual requirements there
for, including the proposed issue. Stock is preferred as to assets and divs.
and is callable at 105.
Ponds.— $2,250,000 1st & ref. M . 5s are to be pledged as security fo*
the $1,500,000 notes o f tho W est Penn Power C o ., which see. O f the
West Penn Traction Co. 1st M . bonds, S 9,175,000 are reserved to re
tire tho bonds o f constituent com panies and balance for extensions aud
betterments at 9 0% o f cost. A s additional security all the outstanding
co ll, trust bonds o f 1910 o f W ost Ponn R ys. and other securities owned are
deposited undor tho m tge. Through this deposit these bonds are secured
on tho properties o f tho subsidiary co s ., subject to the outstanding under
lying issues. Bonds are not subject to call. See description o f bonds and
property in V . 92, p . 597. T he IV. P. Rys. Co. 1st M . bonds o f 1905 are
not subject to call. T h ey are tax-free in Penna. Listed on P hila., Louis
ville, Pittsburgh and Baltim ore Stock Exchanges. T he Connellsville
Sub. bonds wore gu ar., p . & 1., b y the P ittsb. M c K . & Connellsville St.
R y . A ll tho IV. P . Rys. coll, trust bonds are owned by C o . and are on de
posit as part security for IV. P . Tract. Co. 1st M . bonds. $90,000 Oakdale
Sc M cD on a ld bonds owned by W est Penn R y ’s C o . not included in
am ount reported outstanding. In t. is payable at agency o f com pany in
N . Y . C ity . N o t subject to call.
Hydro-Electric Co. o f IV. Va.— O f the 1st M . bonds o f 1913, $2,172,000 are
outstanding and are all owned b y the W est Penn R ys. C o .; balance d e
livered to trustee.
Dividends.— D ivs. on p rof, stock were begun Sept. 15 1917.
E A R N IN G S .— For years ending D ec. 31 (including subsidiaries);
Fixed Charges,
Balance.
12 Months to
Cross Earns.
N et after
Divs. (Sub.Cos.) Surplus.
Dec. 31—
(all sources).
Taxes.
$1,933,480
$1,173,388
1917_______ ________ $7,783,531
$3,106,868
2.047,601
1,011,152
1916........... ................. 6,365,959
3,058,753
O P E R A T IO N S , & c.— Owns or controls 322.55 miles o f track, 445.44
polo miles high-tension transmission lines and serves over 90 cities and towns
having street lighting contracts in m ajority o f municipalities served.
Tho territory covered includes Fayette, W estm oreland, Green, W ash
ington, Allegheny, Butler and Arm strong counties in P a.; H ancock,
B rooke, Ohio and M arshall counties in W . V a ., and Jefferson and Belm ont
counties in Ohio. Genoratiig capacity o f plants owned and leased as o f
Jan. 1 1917, 76,905 k . w . 70-lb. T rail in country and heavy girder rails
in citios and tow ns. Revenue pass, carried in year end. Sept. 30 1916,
52,815,913. T ho towns served b y the trolley lines include Duquesne.
M cK eesport, T rafford C ity, Irwin, Jeannette, Greensburg, M t . Pleasant,
Brownsvtllo, L atrobe, A p ollo, Leechburg, Ford C ity , Kittanning, N atrona,
Tarontuin, N ow Kensington, Aspinwall and Intervening towns. Connects
with Pittsburgh Railways C o . lines at T rafford C ity and M cK eesport.
O F F IC E R S .— Same as W ost Penn T raction & W ater Power C o .— V104, p . 2453; V . 105, p . 608, 820, 1523; V . 106, p. 298. 608, 1037.
(b) W h e e lin g T r a c t io n .— A trolley road.
On Oct. 1 1912 control was acquired b y the W est Penn T raction C o .
(now W ost Penn R ys.), which owns over 9 9% o f the stock.
O R G A N IZ A T IO N .— Incorporated Sept. 1900 in W . Va. as a con solid a
tion o f tho W heeling R y ., tho Bellaire Bridgeport Sc M a rtin ’s Ferry R yand the M oudsvillo B enw ood Sc W heeling R ailw ay. T he com pany owns
all o f tho capital stock o f the Citizens’ Street Railway C o . and leases same
for 99 years. Owns the capital stock o f the Steubenville & W heeling
T raction C o . Owns tho entire capital stock o f the W heeling & W estern
H R . and tho Bollairo South Western T raction C o . and Panhandle T raction
C o. Seo below . Controls W heeling Bridge C o .— V . 83, p. 563, 753.
In M arch 1918 it was reported that this com pany had bought the W cllsburg W cirton & Steubenville T raction line, extending from W ellsburg,
__
V a., to Steubenville, O .
In Jan. 1911 increased auth. stock from $2,000,000 to $2,500,000.
Groator part o f franchises perpetual.
104
ELECTRIC RAILWAYS.
BONDS—
Date. Interest.
Outstanding. Last div., & c.
&toek $2,500,000 ($100)-------- - ----------------------$2,336,300
See text
W heeling Traction 1st m tgef 1901 5 g J-J
2,500,000 Jan 1 1931
$2,500,000 ($1,000, $50 0 )l i n t , at Cleveland T rust C o ., C leveland, trus.
- 8 ° Ici------ - - - - - - - - f and In t. at N a t. B k . o f Com m erce. N . Y .
30-Y ear gold 5s $10,000,000/ 1913
5 J-J
170,000 Jan 1 1943
_
. .
, ^
c& r lln t. at C olonial Trust C o ., Pittsburgh, trus.
E qu ip , trust ctfs. £540.000)
D ec i 1916 5)4
32,000 See text
W heeling Bridge C o $200,000/ 1S90 5 g J-J
2 0 0 ,00 0 Jan 1 1 9 2 1
1st M cannot be c a lle d .n t n Int. at Fidelity T . & T . C o ., P ittsb ., Trustee
Panhandlo T ra ct C o 6 % stk f 1915
6 % D -J
309.530 D oc 119 1 8
purch notes call at p a r .n t f l i n t , at D ollar Sav. & T r. C o ., W heel’g. T rus.
W heeling B ridge C o 6 % stk) 1913
6 % F -A
162.566 Feb 1 1918
purch notes call at p a r .n t f lin t . at D ollar Sav. & T r. C o ., W hoel’g, Trus.
W H eli ? gc &e ^ s^ n/«Ryn£ ? L 1906
5 g M -N
235,000 N o v 1 1926
1st M 5s $500,000 ($ l ,000) j G u a r., p . & i., b y W heeling Traction C o.
c * . n t f lin t , at D ollar Sav. & T r . C o .. W h eerg , Trus.
. „ .
o
m
, ,1 C allable at 102 on any interest date.
Bellaire S W T r C o 1st M
1906
5 g M -N
65 000 N o v 1 1926
$500,000 ($1,000)------ r&c* j In t. at D ollar Sav. & T r. C o , W heeVg. Trus
R e d . at 102
(Guar p . & 1. b y W heeling T raction C o.
^ ° n^S-—~Eirst m ts e. bonds can be called on any int. d ay at 105 and int
upon 30 days notice. V . 95, p . 619. The 30-yr. gold 5s bonds aro for re
funding the $2,500,000 1st M . bonds and for extensions and betterments.
!*ed- a t 105 and accrued int. at any int. period. V. 96, p. 1491. The
$170,000 outstanding are all owned b y tho W est Penn R y ’s C o . The
equipm ent trust certificates o f 1916 wero for the purchase o f 8 new P-A -Y -E
cars costing $43,698. T hey aro to m ature serially and are to bo paid in
full at the end o f 5 years. V. 104, p . 258.
J an ’ 10 19«3 . and 1% was again
PaJ ,Tl. l,X 1
d l
Jul.v 1909, when 1% was paid; in 1910, 4 % ; in
1911, 4 % . In 1912, 1913 and 1914, 5 % each. In Jan. 1915 H % a n d
same am ount quarterly since.
/0
R O A D .— Owns or controls and operates 84.40 miles oftra ck in W heeling
and suburbs, extending to B arton. Shadyside, R ayland and W ellsburg,
M ou ndsville, Bellaire and M a rtin ’s F erry.— V . 96, p . 1491; V . 104, p . 258.
(1) Steubenville & Wheeling Traction Co.
O R G A N IZ A T IO N .— Incorp. M a y 1901 In Ohio. In Sept. 1905 acquired
b y deed all the property o f the Steubenville M ingo & Ohio Valley T rac. C o.
subject to the bonds o f that com pany in table below. V . 81, p. 1101.
D ate'
M e r e s t.
Outstanding.
M aturity.
^ i * - 5650’0 0 0 ^
^
t 1905
5 g M -N
533,000 M a y T l 9 3 5
_ . I® 1 '0 0 0 )---- -- - - - - - - - - n t f i l n t . at D ollar Sav. & T r.C o.,W heeling.trust.
^ ' n£ o & ° bI° Val l s t ‘ 1900
6 g J-J
117,000 Jan 1 1920
M S150.000 g ( $ l ,0 0 0 ) ..c * /l n t . at E quitable Trust C o ., N . Y ., trustee.
Bonds. O f the $650,000 new bonds, $117,000 are roserved for prior liens.
T he new bonds are subject to call at 102 and int. T h oy are g u a r., prin.
a“ d int. b y W heeling T ra c. C o. Entire issue o f Steubenville M in g o &
Ohio Val. bonds is subject to ca ll at par on 3 m os. notice.
^.OA19*’— 1 teubenville
3
Brilliant and W heeling to R aylan d, 15.32 miles
prail0 1 GaUge 5 f t " 2 ^ ,n - Bower house is located at B rilliant.— V . 81.
(2) P a n h a n d l e T r a c t i o n Co .
. * ? T b T S . M U fi„190-frL“ £ ? , I 'rl!l',l!'w
g
ct
o
In J“ - 1000 “ « " » « “
Firat m ortgage $500,000 gold) 1902
5~g A -O * '
500 000 Oct* Y Tim
($1,000 and $500)— c * » t f ( I n t . at C olum bia T r. C o ., N . Y ., trustee.
Bonds.— Are subject to call on any int. date a t par and int. on 30 days’
R O A D .— Operates 18.94 miles o f track from W heeling to Lazeareville.
“ rdSgayu g e ;% d b !T r and Q O -T b Y g ir d ^ S franchises aro pCTpetua1’
sta n d *
W E S T PENN P O W E R C O .— (See M a p on page 103.)—
, r 9 l iG A N IZ A T ,I.9 IJ.’— Inc° rP- In Pennsylvania M arch 1 1916 as a merger
o f o3 co s ., consolidating under a single feo ownership the principal electric
iw ,n T iWer properties within the State o f Pa. form erly owned b y the
s to c k Icf nw rLiY,F?>; ^ ? 'T ,W ost Benn R ailw ays C o .) . T he entire com m on
®
bn
Rr T F n C o ' „ A lso con trols, through ownership o f
e n tire stock , the Butler L igh t, Heat & M o to r C o. and tho Butler Ico C o .,
a subsidiary o f the Butler Light, Float & M o to r C o.
D oes a general electric lighting and pow er business, serving som e 74 citlee
a nd towns in the territory surrounding Pittsburgh. P a. Franchises, except
i n com m unities from which the com p any derives less than 5 % o f Its gross
earnings, are in the opinion o f counsel unlim ited In duration.
*
In F eb. 1918 issued $1,500,000 2-yr. notes to provido funds for a d d ’ns,
n il'
a substantial part to bo expended upon the Connellsstation o f tho w est Penn R y s ., leased by this co. V. 106,
STOCK A N D BONDS—
Date.
Interest. Outstanding.
Maturity.
C om m on $10,000,000 ($ 100) .................................... aru.uuu uuu
$10,000,000
B f 7 % cum $10,000,000 ( $ 1 0 0 ) ____
Q -F 1
2 750 000 M f t V 'i s 'i w
K
%%% gol,d, Ser!es
1916
6 ™ -s
8 :50 0,0 0 0 m « l
«
s a w fls a R m
s s ,
T„ a
- » .
a
s
S f f m r ' b S f ' S n V ' 5.0? . ' ; ^ 191.8 . , ! * p - '
. 1.500.000 F eb . I 1920
U U ($500 & $ l,0 0 0 )--C * tf\ C o n t. & C om m . T r. & Sav. B k ., C h ic., Trus.
U
[Vol. 106
dncliides 6 electric generating stations, installed capacity
34,561 k .w ., 60 sub-stations (transformer capacity 101,675 k. w .) t and 387
pole miles o f high tension transmission lines, exclusive o f low tension distrlbe t'o n lines In cltltw and towns. C om pany also leases the power plant o f the
W est Penn R ys. C o . at Connellsville, P a ., generating capacity 56,875 k. w .:
also a small plant o f 3.750 k . w .cap a city; 27 miles o f 132.000 v o lt steel
tow er transmission line Is under construction. O f tho installed capacity
owned, 30,000 k.w . consists o f the c o ’s half o f tho initial installation (placed
in operation N o v . 1917; o f tho new generating station at W indsor W Va
constructed join tly for tho co . and tho American Gas & Electric C o.’
(see V . 106, p. 298).
ar O F F IC E R S .— Bres., A . M . Lynn; V .-P .’s W illiston Fish and J. S. Jonks;
X --B - & S ec., R aym ond B . Keating; Treas. & Asst. Sec., C . C . M cB rid e,
I ittsburgh; A ud . & Asst. T reas., John Y ou ng.— V. 104, p . 770 1296 1708.
— V. 105, p. 1528; V . 106, p . 298, 507, 612, 1124.
’
’
PITTSBURGH MARS & BUTLER R Y .—
O R G A N IZ A T IO N ,— Successor to the Pittsburgh & Butler St. R y ., the
interurban division o f the Pittsburgh & Butler R y ., which was sold at fore
closure M a y 9 1917 (V . 104, p . 1900). On Sept. 5 1917 m ade a m ortgage
or n AnA 0 a, Savings & Trust C o ., Pittsburgh, securing an issue o f $1,
r
250,000 bonds to provide for im provem ents, & c. T ho old Butler Passenger
R y ., the C ity Division o f the Pittsburgh & Butler R y .. was taken over by
the 1st M . bondholders and reorganized as tho Butler R ys. C o ., which see
under “ Butler, P a .”
Fares.—-In April 1918 filed a new fare schedule with tho Penna. P . S.
C om m ., effective April 20 1913, providing for a passenger faro o f 6 cents
per zone with 10 tickets for 55 cents. Increases in package and freight
ratas were also provided for.
P . E . Seddon, Stanwix B lock, Pittsburgh, P a ., is Treasurer o f tho co m
p any.— V . 105, p. 998; V . 106, p . 1578.
PITTSBURGH HARMONY BUTLER<!& NEW CASTLE R Y . CO.
O R G A N IZ A T IO N .— Is a consolidation in 1906 o f several small com PoIV ^ ’ « A a P eh - BJ10 authorized stock was increased from S3,000,000 to
^o,oU0,l/00.
STOOK A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
Stock $.3.500,000.......................................................
$3,000,000
.
$3,500,000 g o ld / 1906
5 g J-D
2,900.000 June l 1930
(SLOOO) - - - - - - - - -„-„-„-c * t flI n t . at Union Trust C o .. Pittsburgh. Trustee
Bonds.— T ho $600,000 unissued are reservod r0r future extensions.
E A R N IN G S .— For 12 months ended N o v . 30.
,r,KZar, ~
Gross.
Net.
Int. & Taxes.
Surplus.
9 6 - 7 --------------- -----------.$812,021
$278,810
$188,613
$ 90,197
1915-16-------------------------- - 714,829
286,657
176,720
109,937
R O A D .— Operates 68.5 miles o f track from Pittsburgh, via W exford*
Evans C ity , H arm ony and E llw ood C ity , to N ew Castle, with a branch from
Evans C ity to Butler. Enters Pittsburgh over tho tracks o f tho Pittsburgh
R ys. C o . On D ec. 3 1913 placed in operation an extension from Ellwood
C ity to Beaver Falls, 633 miles.
O F F IC E R S .— P ros.. It. H . Boggs; V .-P ., Joseph II. M oore; Sec. &
T reas., P . E . Seddon; A u d ., C . G . M artin.
PLATTSBURG, N. Y.
PLATTSBURG TRACTION CO.— A trolloy road.
Delaware & Hudson C o . owns entire stock and bonds.
O R G A N IZ A T IO N , & c.— Chartered M a y 27 1896. Franchise 50 yoars
h o m N o v . 20 1895. Capital stock, $100,000 (par $100). First m tge. 6 %
gold bonds o f 1896. due 1926: Int. J. & J. (tf) at Continental Trust C o ..
N . Y ., trustee: authorized, $100,000: issuod, $80,000.
Dividends.— Annual d iv . In](Jan.) 1910. 4 % : In 1911 5 % - in 1912 6<£.*
tn 1913. 5 % : In 1914. 4 % : ln U 9 l5 , 4 % . N one since.
E A R N IN G S —
^ Gross
N et
Other
Taxes & Balance,
i t
s s r „ . . . $™ a£ s nos- $ io a46i nffs- ln com e- ch aroes■ su rp iu sD ec. 31 1916.............. 37,884
13,742
" '4 8 8
$8" 176
$0'054
Juno 30 1916------------ 33,293
11,438
289
8 085
3 ’<142
R O A D .— Owns 7.53 miles o f track; rail, 50 to 80-lb. T . Pres., E ’ N~
Sanderson N . Y .; V .-P s ., W . II. W illiams, N . Y .; F . P. Gutelius and
n . B . W eathorwax, A lbany; A sst, to V .-P ., G. II. Parker. N . Y .- Sec &
A u d ., W . II. Elder; T reas., II. F . A therton, A lbany; A sst. Troas. & Gen.
M g r.. H . L . B arber, Plattsburg; C o m p t., W . H . D avies, N . Y .
PLYMOUTH, MASS.
BROCKTON & PLYMOUTH STREET RAILW AY.
O R G A N IZ A T IO N .— Chartered on Jan. 3 1900 as tho P em broke St. R y.
In Sept. 1000 was consolidated with tho Plym outh & Kingston Streot R y .
and the B rockton & Plym outh Street R y ., and in N o v . 1900 name changod
as above. Doos electric railway business from B rockton to P lym outh and
In the intervening towns. In Fob. 1907 M ass. R R . Comm ission granted
ln “ “ to” “ or
=
,nd
S t S O S s 2 9 5 D0 0 0 ° S ? 0 0 i : . . / ’f “ c?
° 'S " o S S Prof $110,000 ($100) 6 % cu m l
..............
.....................
(redeemable at 112)............( ------6 M -S 15
110.000 Soo text
F m Ynm 8580 5300•
09° g0' ‘’ Jr
r,,4. ^ g, J' U
260.000 D ec 1 1920
( $ 1 , 0 0 0 ) - - - - - - . . . c * r . n t f ( I n t . at Old C olon y T r. C o ., B oston, trusteo.
{Jonas. $3o,000 bonds in addition to am ount reported outstanding aro
held in treasury.
&
Dividends.— An initial dividend— 3 % — was paid on prof. Sept. 15 1909
Same am ount somi-ann. to and incl. M arch 1916. Sept. 1916 d iv. deferred.
E A R N IN G S .— F or 12 m onths ending D ec. 31*
, n Y^ar—
Gross
Exp. A. Tax.
N et.
Interest.
Balance
1917----------$124,316
S124.779
dof.$463
$1-1,755
d e f $15 2 18
1916........... 122.814
109,113
13,501
13,285
sur S
216
R O A D ,— P lym outh through Kingston, Pem broko and Hanson to W h it
man, 24.3- miles o f track.
28 pass, and 9 other cars. Standard gaugo*
Power station capacity o f 825 k. w.
,Pr^ s ” A ’ 8tuart S ra„tt: v -‘ B• Chas. I. Litchfiold; Clork,
•
^ " 1 - T . Crawford: T reas., H enry B . Sawyer; Gen. M g rs., Stone Sc W ebster
,s re d ’ ?s a w hol° ° r In Part at 115 and accrued d iv .
on any d ividend date upon six m onths notice. See V . 102. p . 2082.
„
- - : rh0 bonds are a 1st M . on ail the physical p roperty, rights
S dl r„a
n
,ow owned or horoafter acquired and on tho capital stock and
t r l “ '/IcbtcOncss except current operating accou nts o f the Butler L t ..
l9tor than TanC ? 'io T ihe com Pany covenants to construct or acquire not
later than Jan. 1 1921 a new power plant or plants having an aiurreeato V .gl b 3 ^ n ’i o ^ l f v . Y o T , t 1 C 8 SmlCh’~ V - 88> P - 748: V - 102’ p ’ 1810:
89
i°^ n
R- w ., to be su b ject to the 1st
M . lien o f theso bonds. $2,223,000 Series “ B ” bonds, bearing 6 % interest
d eP °s
,it0<1 as security for the 2-year collateral notes. A dditional bonds
POMEROY, OHIO.
JS let fafc Bar for 7 6% o f tho actual cost o f perm anent im p ts..
£
OHIO RIVER ELECTRIC R Y . & POWER CO.— A trolloy road.
additions or extensions under conservative restrictions. R ed . as a whole
O R G A N IZ A T IO N .— Incorn, in Ohio, 1914. Old co . o f sam e nam e, In^ ‘ n P a r t on,or after M arch 1 1921 at 105 and int. on 4 w eeks’ notice. Int
r P ^ a w a r e in 1900, taken over by present c o ., subject to $315,000
0 at E quitable Trust C o ., N . Y .. or C ont. & C om m . T r. & Sav. B k .,
ls
.l-,
b0.ny,}ssue. Owns all the ca p ita lstock ($30,000) o f tho Pom eroy
- T ax exem pt in Ponn. Tho m tge. provides for an annual ox- Sc tAIddleport E lectric C o .
M
91
fo lows; 1916-20. 1H % o f bonds out; 1921-25.
STO CK A N D BONDS—
D ate.
Interest. Outstanding. M aturity
h r e u & T i al,s.°!M a depreciation fund o f 2 % o f bonds out begln0r
C om m on stock $200,000...............................
$150 000
.......... _
* 1 5 0 6 0 0 .....................
b S id s may^oe LsuYd
WhlCh D° nrsfc “ tg c* 1st p ref stock $300,000......................
$2,000,000 coll.notes o f 1917 aro secured b y $2,223,000 1st M . 6 % gold l8 « ^ g o l ,31£ ’£ 0 0 g o ld ($ 1 0 0 -I I 900
5 g J-J "
3161000 July" l" 1924
$500, $1,0 00 )---------- c * .n t f lin t , at C olum bia A v e . T r. C o .. Phila. Trust
further n h fD o ? r i i-AvJdiK ° n ?1
<
o f th- issuo lnay bo issued only upon
is
£ 0 Hfir Ple<lg° o f 1st M . bonds in liko ratio. V. 105, p. 614. N otes are
T h e Y ;Y ^ on £ n or P nrfc0^ 60 days’ notice, at 100 H and int. Tax-free In Pa
P f> n % w % 0iY t
°| 191t8 ar? .to b0 secured b y $2,250,000 W ost
hnnrY.
° I > A ? e,f - Y : Sf; Bending the issuance and pledge o f such
fc
a s a S * S h U S - " * 0,h” ,uc° ™ '
“ 3
in h w , taH ^ i i /i ? Pledged in lieu thereof either (a) otner bond collateral
,£ e ratio, or (b) cash at par. T he notes are callable all or in part on »T S 9 iA D ’T ° T 7 nS and 2 Perates 12 % miles o f road extending through
M Iddleport. P om eroy, Syracuse and R acin o, O hio.
K
K
at inn and in?
prl? t0 Ai?,g ’ -1 1919 at 10° H and in t., and thereafter
O F F IC E R S .— P res., I. L . Oppenhoimer; V .-P ., F . W . Bacon- Sec
IP
„terost Payable in N . Y . or Chicago without deduction
— ^ 9 9 rlp lb13blTreaa' ’ H arry " “ Hams J r. Goneral office , P hila., Pa!
sylvarda! v . 106 p 612° aX
th® ext0nt o f 2 % • Tax-exem pt in PonnDividends.— D ivs. on p ref. stock have been paid since organization.
, a f t r Y 9 ? • ^ l'^ rioye?1 £ ndL
r
ng D e c ’ Y l 9i 0 - Kress, S3,039,578; net.
'i ' S
’4491 f Ixed charges and pref. d ivs., $658,695; surplus
" * • “ r ,“ '
=*'-‘ 38,728. 5 «b d
Latest Earnings.— For 11 m os. ending N o v . 30:
A £ San°
„ Gro.ss
iW i(after
Fixed
iVot?. 30.
Taxes).
Charges.
91Z .........................53,076,572 $1,160,185 $457,791
• 6 ......................... 2.206.802 1,219.132
418,349
11
Pref.
Balance,
Divs.
Surplus.
$141,604 $560,790
105,000
!695,783
PORT CLINTON, OHIO.
NORTHWESTERN OHIO RAILW AY & POWER CO.
r* O R G A N I Z A T I O N .-I n c o r p . in 1912 In Ohio to take over tho T oled o
P ort C linton & Lakeside R y . (V . 95. p . 4 8 ), which in April 1913 reduced
its capital from $1,800,000 to $1,500,000. All o f tho $800,000 (author zed
*5d
nnn nnft T A i * 500-000 <auth. $700,000) prof, and $1,293 000 (auth.
$5,000,000) 1st M . 5s are owned by tho Goneral Gas & E lectric C o which
fn nn rTw , r-u- V
nd; ' 8®ct,on-
Does an electric light and power b u sin g s
1? SHnSi0?*
Center, G enoa, E lm ore, Oak H arbor, Gypsum Danbury
P ort C linton. Lakeside and M arblehead.
u * ^ anDury*
106
ELECTRIC RAILWAYS
E A R N IN G S .— For 12 m os. ending D ec. 31 1917, gross, $288,102: net,
after taxes. $23,973; interest, $67,527; d eficit, $43,554. In 1916, gross,
$268,541: net, after taxes. $58,699; interest, $66,149; d eficit, $7,450.
R O A D , & c.— Operates 59 miles o f track from T oled o to E lm ore, Oak
H arbor, P ort C linton and M arblohead. In addition operates a line during
the sum mer m onths to B ay P oin t, 3 miles east o f M arblehead, thus making
direct connections with Cedar P oin t and Sandusky. In T oled o operates
on abou t 3 miles o f T oled o R y s. & L t. track. Standard gauge, 70-lb. T rail
10 pass, cars, 2 express m otor cars, 34 non-m otor freight cars; total, 46 cars.
V . 95, p. 48, 176.
O F F IC E R S .— Pres., W . S. Barstow; V .-P ., J. B . T aylor; Treas., O . O.
Swenson; Sec., C . N . W ilson; Asst. Sec., Goo. II. T uttle; A sst. Treas. &
A u d ., E . II. Rechberger; Gon. M g r., E . A . Burrill; Gen. M g rs., W . S.
Barstow M anagem ent A ssociation.
[Vol. 106
O F F IC E R S .— Pros., W m . M . Bradloy; V .-P s ., P . G . Gosslor and Frank
Silliman J r.; V .-P . & Gen. M g r., A . II. F ord; Treas. & Clerk. Chas. F .
Berry; Sec. & A sst. T reas., C . A . Pearson, Jr. Under m anagement o f 15. W .
Clark & C o. M g t. C orp .— V . 105. p. 1617; V . 106, p. 503, 1461.
(1) Lewiston A ugusta & W aterville Street Ry.
Cum berland C ounty L . & P . C o . owns practically all tho com m on stockO R G A N IZ A T IO N .— ln co rp . in M alno O ct. 23 1902 as tho Auburn M e
chanic Falls & N orw ay St. R y ., which was. on April 23 1907, changed to
prosont title. A cquired the proportlos, & c., o f tho Lowiston Brunswick &
Bath St. R y .; Augusta W inthrop & Gardinor R y .; Auburn & Turner R R .
C o .; Brunswick & Yarm outh St. R y . (form erly tho Portland & Brunswick
St. R y .) and tho Freoport E lec. L t ., H t. & P ow . C o. V . 84, p . 1182.
E lectric railways largely on private right o f w ay; remainder undor favor
able franchises, m ajority o f which perpetual. D oes tho oloctric light and
power businoss in Freoport. Also does an extonsivo froight businoss.
PORT JERVIS, N. Y.
Fares.— On M a r. 1 1918 put into effect a now faro schedulo botwoen
PORT JERVIS TRACTION CO.
Lowiston and B ath, based on the zone system .
O R G A N IZ A T IO N .— Incorporated in N ow Y ork on Juno I 1910 to take
STOCK A N D BONDS—
Date.
Interest. Outstanding. M aturity.
over the railway business o f the P ort Jervis Elec. L t. P ow . Gas & R R .C o .
..............
$2,400,000 .........._ _ _
sold „a!L£uct,oa on J an- 27 1909. T he Port Jervis Light & Power C o . Stock com $2,400,000 ( $ 1 0 0 ) . . ........
Q-F
600,000 Feb T 8 . l y
($118,000 stock . $188,000 bonds) was also lncorp. to tako over the light P r e f$600,000 ($100) 6 % cu m ............
5 g A-O
1,700,000 April 1 1937
and power business. T he bonds o f the T raction C o. are owned by the Light First and refunding m o rtf 1907
& Powor C o.
gage $5,000,000 ($1,000)1 In t. at Old C olon y T r. C o ., B oston, T ru st
g o ld .................................. c * t f and E . W . Clark & C o ., Philadelphia.
STO CK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
N 9.t Sor, ° $750,000 K ( $ ! . - / 1915
^
5g J -D
{614,000 Juno 1 1918
Stock $20.000...................................... ..
_
s i o 935
000) red at 101 and in t .c tf\Int. at Fidelity T rrat C o ., P ortland, T rus.
M ortgage $70,000 g o ld ------ c * \ ------5 g A -O
70,000
I960
Securities o f the Lew. Bruns. A Bath Sc. Ry.—
I n t .p a y .a t o ffl c o o f trustee (Orange C o. T r. C o.,M id d letow n ,N .Y .,T ru s. First
$1,000,000 g o ld / 1898
5 g M -S
845.000 M ch 1 1918
Bonds.— Subject to call at 105 on any Interest day
($500 & $1,000) closed c n t f l l n t . at State Trust C o ., A u g ., M o ., Trustoe.
R O A D .— Operates 4.3 miles o f track. 70-lb. T and 93-I d . girder rails.
Securities o f the A u g. W in. A Oar. Ry.—
8 cars.
A ug. II & G gen m tgo c o n -/ 1901
4 g J-J
55,500 July 1 1951
O F F IC E R S .— P res., G eo. H . Stephenson; S ec., M . F . M aury: T reas.,
vortiblo ($500$ 1,000) c n t f l l n t . at Augusta T r. C o, Augusta, Trustee.
C . C . Corwin; S upt., Frank C arlow .— V . 88, p. 158, 296; V . 99. p. 271.
Aug H & G pref s t o c k ...........
4%
194,500 July 1 1961
Aug Win & Gard 1st M $ 15 0 ,-/ 1902
4 g J-J
53,000 July 1 1952
000 con v($ l,0 0 0& $ 5 00 )gcn tf\ ln t. at Augusta T r. C o ..A u g u sta .M o..T ru st.
PORTLAND, ME.
Aug W in & Gard pref stock ...................
4%
97,000 July 1 1952
CUMBERLAND COUNTY POWER & LIGHT CO.— (See M ap on Aug W in * Gard gen M $ 1 2 5 ,-/ 1905 5 g J-J
100,000 Jan 1 1936
page 105.)
000 ($500 $ l,0 90 )g old e n t f i Interest at Augusta Trust C o ., Trustee.
Bonds.— T ho $5.O0o.UOO 1st & ref. M . bonds aro subject to call on any
O R G A N IZ A T IO N .— ln corp . in M aine M a rch 14 1907. On F ob. 1 1912
N o sinking fund
$1,
acquired practically all the com m on stock o f the Lewiston Augusta & W ater- int d ay at 107 y and int on 60 days’ notico
015,000 aro deposited to secure tho 3-year notes; $1,345,000 aro roserved
yille St. R y . and leased for 99 years tho Portland R R . C o. V . 94, p . 826
In July 1912 acquired all tho properties, rights and franchises o f Consolidated for prior liens; $940,000 for Improvements, & c., at 85% o f cost. T he
E l. Lt. C o. o f M aine, Portland L tg. & Pow . C o. and Portland E l. C o ., which A ug. W in. & Gard. R y . gon. m tge. 5 % bonds o f 1905 aro subject to call at
cos. were previously controlled through stock ownership. On D ec. 18 par on any int. day on 60 days notice. T ho A ug. W inth. & Gard. R y.
1912 purchased capital stock o f tho Ossipee Valley Power C o. On Feb. 1 1st M . 4 % bonds aro exchangeable for 4 % prof. Stock o f tho same c o .,
1913 acquired practically all the com m on stock o f tho Y ork Power C o ., con which stock has tho samo security as the bonds and matures at tho same tim o,
trolling the Y ork L t. & li t . C o. V. 97. p. 368. In April 1913 tho Ossipee $97,000 havo been exchanged. S ubj. to call at 104 and Int. on any Int.
Valloy Pow . C o. and tho Y ork P ow . C o. were m erged, form ing tho York dato. It is a closed m ortgago. Tho A ug. II. & Gar. gon. M . 4 % bonds
C ounty Power C o. D oes entire elec, light and powor businoss o f Portland aro exchangeable for 4 % pref. stock o f tho samo co.,h a vin g tho samo secur
and vicin ity. Through sub. cos. operates streot railway system s o f Portland ity as tho bonds and maturing at tho samo timo. $194,500 havo boon ex
and South Portland, with lines to Yarm outh, Capo Elizabeth, Saco, Old Or changed. Callable at 104 and Int. on any Int. dato. Series “ C ” notos are
chard, W estbrook, Gorham and South W indham . A lso city and suburban secured by deposit or $853,000 L . A . & W . 1st & rof. bonds at 72, and are
lines o f the Lowiston Augusta & W atorvillo St. R y ., from W atervillo to guar., p. & 1., by tho C um b. C ounty Powor & L t. C o.
All tho underlying mortgages aro closed m ortgages.
Augusta, Gardiner, Sabattus, Lowiston and Brunswick, thonco to Bath
Dividends.— On prof, l y % quar. from A ug. 1910,to and incl. Fob. 1918:
and Yarm outh, at which point connection is made with tho Portland R R ..
and the olectrlc-light and power business in Biddeford, Saco, Old Orchard,
E A R N IN G S .— F or year ending D ec. 31:
K ennebunkport, York H arbor. A lfrod, Sanford, Springvale, Freoport; also Dec. 31
Gross
N et (after
Interest
Pref. D ie.
Balance,
gas in Biddeford and Saco.
Year—
Earnings.
Taxes.)
A c.
(6 % ).
Surplus.
Franchises.— ' the franchises undor which tho com panies operate are 1 9 1 7 ..............$898,373
$214,689
$186,689
S36.000
dof$g,000
stated to be exceedingly liberal ana to have no burdensome restrictions.
1916 ............ 803.660
250,364
187,772
36,000
$26,592
Furrs.— In Fob. 1918 applied to tho M aine P . U. C om m , for auth. to
16,409,925 passengers carried in 1917. against 15.263,957 in 1916.
increase fares in and about P ortland to 6 cents.
R O A D .— Operates a system in and botweon W atervillo, Augusta, W in
S T O C K A N D B O N D S—
--------Date.
Interest.
throp, T ogu s, Gardner, Sabattus, Lowiston, Auburn, T urner, M ochanic
Outstanding. Maturity
C om m on $2,700,000 ($ 1 0 0 )...............
Q -M
Falls, Brunswick, Freoport, Yarm outh and Bath
T otal track. 163.9 mllos;
$2,696,800 Sopt’ 17,1%
Q-F
P rof $2,300,000 ($100) 6 % / ____
105 passongor, 61 freight and express cars. 11 snow plows and 25 m lsc. care;
2.300.000 F ob T 8 , l y
cum red at 120 & accr dlv\
total, 182 cars. Has tw o steam plants with an installed capacity o f 700 k.w.
1st & rof m tgo $10,000,000/ 1912
5 M -S
_______ _
O F F IC E R S .— Pres., W m . M . Bradley; V .-P s., II. L . Clark, A . II. Ford
2.918.000 ,
Sept 1 1942
gold ($1.000)................ c * tf/E m p ir e T r. C o ., N . Y .. Trustoe.
and Frank Silliman Jr.; Treas. & Clerk, C . F. B erry.— V. 106, p . 1577.
Port El C o prof stk $ 5 0 0 ,0 0 0 /____
Q-F
500.000
See text
(2) P o r tla n d R a ilr o a d .— T rolley.
($100)6% cum (seo t o x t )n t flO . O. B an croft, Portland, trustoe.
Lease.— Leased for 99 yoars from F ob. 1 1912 to tho Cum berland C ounty
*Jb600-222L 1P06 s k f -A
1 .2 7 9 ,0 0 0 Aug i 1920
g ($1,000) sink fd — c * t f JTnt. at Portland Trust C o ., Portland. T rus. Pow. & L t. C o ., lease providing for all Interest and other current chargos
Portl Ltg & Pow first m tg o/ 1901
4 y A -O
500.000 A d HI 1 1921 and 5 % dlvs. on capital stock .
0 3750,000 (cl’sd) ($ l,0 0 0 )c t f lin t. at Am erican Trust C ^ , B o s t X T r u s t e e .
O R G A N IZ A T IO N .— ln co rp . M arch 1860 under laws o f M aine. A b
^ i r 1900 ,4 ^ 6 w
500.000 Jan 1 1925 sorbed tho properties o f tho Portland & Capo Elizabeth R y ., Capo Shore
($o00 and $1,000) g o l d .c .t f 1Int. at Union S. D . & T r. C o ., Portland Trus R y ., Cape Elizabeth St. R y ., Portland & Yarm outh E lec. R y. and W est
Consol E loc L t C o o f M e d o b / 1908
6 F -A 15
10,000
See text brook W indham & N aples. Franchises contain no objectlouabio restric
$150,000 ($1,000)------ c * t f l i n t , at Fidelity T r. C o .. P o rtl.. Trustee?
tions; m any aro unlim ited as to timo.
Y ork C o u n t y P ow er C o .—
STOCK AN D BONDS—
Date.
Interest. Outstanding.
Maturity.
E I L t l s t M - C .t f
m o 5 g J-J
46,000 July 1 1930
5 F-A
$1,999,000
Soo toxt
W ells El L t & P 1st M e
tf.
1910 5 g J-J
7,500 Jan 1 1930 Stock $2,000,000 5 % gu ( S 1 0 0 ) -----3 ^ g J-J
1,600,000 July 1 1951
Konnqbunk El L t 1st M -C .n t f
1910 5 g J-J
63,000 July 1 1930 1st cons (now 1st) $3,000,000/ 1901
($1,000 & $500) g o i d .. c * t f l i n t , at Portland T r. C o. Portland, trustoe.
Y ork Lt & l i t 1st M tge gold
1900 4 X g A -O
109,000 Oct 1 1920
First lion & cons $7,500,000 1915
5 g M -N
1.950,000 N o v 1 1945
(closed) ($500)----------c _ n t f Int. at U n. S. D . . & T . C o .. Portland, Trus.
*
'
'
"
gold ($1,000 & $500)- c * t f l in t , at New Y ork Trust C o..trustoe.
d o d o 1st cons ref mtgo 1907
5 A -O
375,000 April 1 1927
Bonds.— Remaining $1,400,000 first cons, (now 1st) M . bonds aro plodgod
(closed) ($500 & $ l,0 0 0 )c t f Int. at Un. S. D . & T . C o ., Portland, Trus.
York C o Pow 1st & ref M $2, 1913
5 g J -D
396,000 D oc 1 1943 as socurity for tho first lien & co n s.-M . 5s. Bonds can be called at par and
Int. on any int. date after July 1 1931. V . 73, p. 139; V. 91, p. 871. O f
500,000 ($50 0 & $l,00 0 )c*tf Int. at Portland, M e ., and N . Y . C ity .
„
Fidollty T r. C o ., Portland, M o ., Trustoe. the remaining first lien & cons. M . 5% bonds, $1,600,000 aro resorved for
retirement o f prior lien bonds and $3,950,000 for extensions. Im provem ents,
York C o Pow p rof stock c u m / - ____
6 Q-J
383.000
Guar.
& c. Outstanding bonds are secured b y deposit o f $1,400,000 first cons,
(guar by C C P & L ) ______ 1
Stock.— B oth classes o f stock are listod on tho Boston Stock E xchange. (now 1st) M . 3 y s ; aro callable as a whole or in part at 105 on any Int. dato.
Dividends.— T ho following dlvs. are on old stock prior to lease.
V . 95, p. 1206. T ho com pany has tho option at any time to redoom all or
Year.—
’95-’99. '00. '01. '02. '03. '04. '05. '06. ’0 7 - 'l l . Since.
part o f tho Portland Electric C o. pref. stock at 115 and accr’d d iv . on 15
P e rc e n t................
6%
5
6
3
3
3
3 3 H 4 y ’ly 5 yearly
days notice, and m ay at any tim e, with consent o f owner, red. prof, stock
at less than 115. Pref. stock o f tho Portland Elec. C o. falls duo and is paya
R O A D .— Operates 106.6 miles o f track, com prising tho ontlre streot
ble on A ug. 1 1926 at par and accrued dividends.
railway system s o f Portland and South P ortland, with suburban linos to
Bonds.— O f the remaining first and refunding m ortgage bonds, $3,000,000 South W indham, Saco, W estbrook, Capo Elizabeth, Gorham , Old Orchard
aro reserved for prior liens, $10,000 aro for C ons. E l. L t. 6s and $4,072,000 and Yarm outh, whore connection Is made with the Lowiston Augusta &
aro for extensions, improvem ents, & c., under certain restrictions. Call- W atervillo St. R y . 214 passenger, 8 express and 57 others. T w o stoam
callable as a whole on any int. dato at 105 and int. on 60 days' notico. powor plants with 4,550 k. w. capacity.
Bonds have a depreciation and trust fund from July 1 1915 o f 1 % per annum
Earnings.— N o t separately rep ortal.
o f bonds out, but not less than $20,000 a year for purchase o f bonds at not
O F F IC E R S .— P ros., Fred. N . D ow ; V .-P ., Charles II. Prescott; Clerk
over 105 and Int. or for replacem ents, extens. and a d d ’ns. In t. payable at
A B Loach & C o ., N . Y
V. 95. p. 361. P ortl. E l. 1st m tgo. bonds are |^Troas., C has. F._ Berry.— V. 101, p. 1553; V. 102, p. 2255; V. 104, p. 2011,
callable at 110 and accrued int. on 5 weeks’ notice as follow s: N os. 1 to 125 on
and after A ug. 1 1911; 126 to 250 on and after A ug. 1 1916 and 251 to 375
ANDROSCOGGIN ELECTRIC CO.
on and after A ug. 1 1921. Sink, f . o f 1% p. a. o f bonds out began A ug. 1
O R G A N IZ A T IO N .— ln corp . in M aine O ct. 26 1914 and purchased tho
1911, incl. any bonds purchased for or redeemed by sinking fund, $221,000
(not included in amount outstanding) in sinking fund. V. 90, p. 1243. proportlos o f tho Lowiston & Auburn Elec. L t. C o. and tho Portland Lowis
Consolidated E lectric Light debentures now outstanding aro duo $15,000 ton Intorurban R R . T ho lnterurban road is on prlvato right-of-w ay for
each Feb. 15; $130,000 were issued, o f which $120,000 havo been retired. 28 miles and on the highway for 2 mllos. Charters and franchises liberal.
O f tho $2,500,000 Y ork C ounty Power bonds, $719,500 havo been cer Has favorablo contract with city o f Auburn for lighting stroots and ways and
tified, and aro guaranteed b y tho Cumberland C ounty Power & Light pumping wator supply.
C o ., and o f this am ount $368,000 aro outstanding in tho hands o f tho
STOCK A N D BONDS—
Date.
Interest. Outstanding.
M aturity
ublic, $150,000 aro in tho treasury o f tho Cumberland C ounty Power & Com m on stock $1,500,000....... ..........
.................. $1,500,000 __________
ight C o. and $229,000 in treasury o f Y ork C ounty Power C o. O f tho Preferred stock $500,000.................. . .................
500,000 ____
remaining $1,780,500. $719,500 are rosorvod for underlying lions and 1st & refund m tge $5,000,000/ 1914
5 A-O
1,940,500 Oct 119 3 4
$1,061.000 for additions and im provem ents. Bonds aro redoemablo at
($1,000 and $500) g o l d .- t f /I n t . at Union Safo D op. & Trust C o ., Port105 on any interest date upon 60 days' notico. Sinking fund o f y of*l % o f
l laud, trustoo.
bonds out began D ec. 1 1917. V. 99. p. 1451, 1597. $43,500 Agam enicus Lewiston & Auburn El Lt m t g o ____
5%
1,200,000 ___________
E l. L t., $22,500 W ells E l. L t. & Pow . C o. and $37,000 ICennebuuk El. L t.
Bonds.— $1,200,000 1st & rof. M . 5 % bonds aro resorved to rotiro tho
C o. bonds, in addition to tho amounts roportod outstanding, aro hold by the Lewiston & Auburn bonds; remainder m ay bo issued for 80% o f cost o f now
trustoe o f tho Y ork C o. Pow . C o. A ll threo m tges. aro closed. Guar, by work under consorvativo restrictions. N o t subject to call. V. 102, p. 607.
Y ork C o. Pow . C o .; Int. payable at Union S. D . & T r. C ol, Portland,
E A R N IN G S .— F or year ending D ec. 31 1917, grass, $525,444; net.
trustee. York L t. & H t. C o. 1st cons. ref. bonds have a sinking fund
which began April 1 1911 o f 2 % o f gross incom o; $16,000 aro held in sink. fd. $267,623. Railway dept, only, gross. $165,656; not, after taxos, $51,306.
Dividends.— 6% has beon paid on tho prof, stock sinco Fob. 1 1912.
P R O P E R T Y .— Owns developed water power at Door Rips on tho A n
Initial d iv. o f 1% paid on com . D e c .I 1916; same rato quar. to Sept. 1917. droscoggin River o f 5,000 k. w. capacity, and oporatos under long and fa
N o later Information.
vorablo leases tw o developed water powers on tho Little Androscoggin Rlvor
o f 750 k. w. and 350 k. w ., respectively. Also owns and oporatos 30 mllos
E A R N IN G S .— O f com bined properties for year ending D ec. 31:
o f high-speed Intorurban road connecting Lowiston, Auburn and P ortland.
Dec. 31
Gross
N et (after
Interest,
Pref. D io.
Bal. for
Year—
Earnings.
Taxes.)
A c.
(6 % .)
Com.Divs. Enters these cities over tracks o f tho local stroot railway com panies undor
operating agreements. 8 passenger cars, 2 baggage and oxpress cars, 1
$1,027,881
$S20,400
$138,000
$69,481
1917......... $3,081,927
oloctric locom otivo and 8 flat cars.
1916......... 2,866.997
1,091,510
809,342
138,000
144.168
O E F IC E R S .— Pres., W illiam T . C o b b , R ockland, M e .— V . 102, p ,6 0 7 .
P R O P E R T Y .— In tho fall o f 1917 the co. placed in operation the first
section, containing a 3,000 k . v . a. unit o f a new generating plant on tho
Saco River at Hiram Falls, which is to havo an ultiraato capacity o f 20,000
PORTLAND, ORE.
k. v. a. In addition, the co. owns or controls -1 hydro-electric power plants
PORTLAND RAILW AY. LIGHT & POWER CO.
on tho Saco and Presumpscot rivers within 25 miles o f Portland and 6 steam
power plants, com bined capacity 29,500 k. w ., with transmission lines to
O R G A N IZ A T IO N .— In corp oratal In Oregon June 29 1906 and has pur
Portland, covering entire city and suburbs; also to Sanford, M o ., aggregat chased all tho proporty o f the Portland R y. C o ., tho Orogon Water Powor &
in g 108 m . The singlo-track mileago o f the controlled railways is 271.
R y. C o. and Portland G en. Elec. C o . V. 86, p. 1044. On M arch 21
E
Ma y , 1918.]
E L E C T R IC R A IL W A Y S
107
1912 acquired thoMt. flood lty. & Power Co. V. 94, p. 983. During 1912 Willamette Valley Southern 1st M . bonds are unconditionally guaranteed
sold the railway proporty in Salem for 8355.333 and the Willamette Falls (as to principal. Interest and sinking fund) by Portland Ry., Light & Power
R y . , 9 miles In length, for $170,000.
In M a y 1914 purchased the Yamhill Co. Remaining $2,250,000 issuabie only under certain restrictions. S in k
Electric Co. In Jan. 1914 acquired a majority of the SI.000.000 com. stock in g f u n d of 1 % of bonds outstanding 1917 to 1923; 11$% 1924 to 1931.
of Willamette Val. Southern lty.. incorp. in 1911 to construct a road from and 2 % 1932 to 1938. Company agrees to refund 1 % of income-tax.
Orogon City to Angel City, 32 miles. Lino was placed In operation on Redeemable at 103 and interest on any interest date on 60 days’ notice.
Jan. 31 1915. Regular passongor service from Portland to Mt. Angel in V. 98, p. 1001; V. 100, p. 57.
augurated Oct. 23 1915. With the exception of two tnterurban lines the
D iv id e n d s . — On old com. quar. dlv. of 1 % paid from Sept. 1909 to Jan.
company operates all tho eloctric railways In Portland and vicinity, includ 1910 incl. Initial dlv.— $1— on new stock as adjusted per plan V. 91,
ing Interurban lines to Oregon City. Troutdalo, Cazadero and Bull Run, p. 1328, was paid Mar. 1 1911; same amount quar. to and i cl. Sept. 1912:
n
Ore., and over the new Inter-State bridge to Vancouver, Wash. Does most Dec. 1912, $lJi. In 1913, Mar., Juno and Sept., $1>£ each. In Dec.
of tho electric light and power business of Portland and vicinity; also a l of rate was reduced and $1 was paid (see V. 97. p. 1824). In 1914. March. $1.
l
tho eloctric light and power business in Salem, Oregon City, Silverton, Juno, $1. None since. N o dividends have been paid on the pref. stocks.
Woodburn and many smaller communities in Oro. and in Vancouver, Wash.,
E A R N I N G S . — For years ending Dec. 31:
.
and operates tho gas plant in Salem. Power i sold to tho two interurban
s
G ro s s
E xp en ses
N et
In terest,
B a la n c e ,
lines abovo mentioned, to tho Southern Pacific, and also to tho companies D e c . 31
Y ear—
E a r n in g s .
& T a xes.
E a r n in g s .
A c.
S u r p lu s .
operating tho street railways in Salem and Vancouver. Tho Yamhill Elec.
$3,576,593
$2,446,917
$2,152,052
S294.865
Co. supplies electric light and power service to Nowberg and other points in 1917___ $6,023,510
3,038,254 2,444,856
2,178,258 266.598
Yamhill County. Bailway f r a n c h is e s in Portland expire in 1932 and 1933. 1916___ 5,483,110
88,610,120 passengers carried in 1917, against 78,605,246 in 1916.
Light and power fr a n c h is e s in Portland and Salem aro perpetual; in Van
couver thoy expire in 1927. Has franchise to carry freight in Oregon City,
R O A D . — Operates a total of 345.07 miles of single track (of which
expiring in 1920. In Dec. 1910 obtained a franchise to oporato over tho 297.07 miles owned, 35.00 miles controlled through stock ownership and
new bridge connecting Portland, Ore., and Vancouver, Wash. One-half 12 miles owned by outside interests). Owns 633 passenger cars, 518
the profits aro to go to Clark and Multnomah counties, by w h o m tho bridge freight and miscellaneous cars and 10 locomotives. Water-power plants
was built. Tho company’ transmission lines and a large part of the have a capacity of 42,880 k.w.; steam plants, 22,000 k.w. capacity. Total
s
interurban railway aro on private right of way.
capacity 64,880 k.w. Has 389 miles of high tension and distribution lin s.
e
On March 15 1910 tho Oregon Supremo Court handed down a decision Owns a 9-story fireproof building in business centre of Portland used for
which in offect sustains t h o f r a n c h is e covering portions of 40 streets passed i s offices, the only park and amusement resort near Portland; also real
t
by Citv Council April 28 1909 over the Mayor's veto. Seo V. 90, p.
estate in Portland suitable for terminals.
On Fob. 21 1913 a franchise covering about 22 miles of stroets, including
Franklin
.
tho proposed “7th St. Lino." was granted. Tho franchise expires in 1932 E.OFFICERS.— Pres.,L. Clark, T. Griffith; V.-Ps., F. I Fuller, Portland,
W. Clark
Phila.; Sec. and Asst. Treas., G. L. Estaand contains a provision that at that time appraisers may bo appointed to brook, Phila.; and H. & Asst. Sec., C. N. Huggins, Portland: Asst. Sec ,
Treas.
arrive at tho valuo of tho company's equipment, with a viow to tho purchase and Aud., I . W. Shepherd: Asst. Sec. & Asst. Treas., W m . Lilley.— V. 105,
t
of the linos by the city. V. 96, p. 654.
In Nov. 1912 tho co. brought suit to restrain tho city from enforcing the p. 1618, 1709; V. 108, p. 190, 397, 1037, 1345, 1462, 1578. 1797, 2123.
"straphanger ordinance” (limiting to 3 cts. tho faro charged passengers for
O R E G O N E L E C T R I C R A I L W A Y . — An interurban road.
wh o m no seats aro provided).and also tho 50-cent minimum gas and elec
Spokane Portland & Seattle Ry. owns entire common stock.
tric rato ordinance. A temporary injunction against tho enforcement of
tho former was granted in Doc. 1912, but application for an injunction to set
O R G A N I Z A T I O N . — Incorporated in Oregon on M a y 14 1906. Ex
aside tho lattor was denied by Judge Bean in tho U. 8. Dist. Court on Nov.
25. on the ground that tho Federal Court has no jurisdiction. V. 95, p. clusively an interurban road. Does no street railway business. Principally
on private right of way. Has a contract for power (extending to 1938, with
1542. 1274.
privilege of renewal for 25 years) with Portland Railway, Light & Power Co.
F a v o ra b le D e c i s i o n . — Judge Harris in tho Supromo Court at Salom in M a y
1916 hold void tho ordinance requiring a tax of 3 % on gross earnings (V.96.
In terest.
O u ts ta n d in g .
M a tu r ity .
STOCK A N D BONDS—
D a te .
. . . ...... $1,950,000 .........
C o m m o n $5,000,000 ($100)__ ____
p. 1157). V. 102, p. 1718.
6 F-A
200,000 In 1914, 6 %
V a lu a ti o n . — The Oregon P. U. C o m m , on Apr. 30 1917 placed tho valua Pref $5,000,000($100) 6 % c u m ___
... ....
380,000 -........
tion of the company’ property as of Dec. 31 1916 for rate-making purposes Deferred stock $400,000 ($100)___
s
5 g M-N
2,000,000 M a y 1 1933
at 846,862,972, or about $14,000,000 loss than the co.'s valuation. See First mortgage $10,000,000/ 1908
($1,000) gold_____c*&rtf(lnt. at Columbia Tr. Co., N. Y.. trusteeV. 104, p. 1900, and compare V. 103, p. 61.
W a g e I n c r e a s e . — In Oct. 1917 wages of carmen were increased to the
B o n d s . — $8,000,000 remaining bonds reserved for permanent extensions
following basis: For men in service l s than 1 year, 38 cents an hour; more and improvements at 80% of cost. Bonds are subject to call as a whole
es
than 1 year and less than 2 years. 40 cents an hour; moro than 2 years 45 or In part at 107 and interest on any Interest day.
conts an hour. For a l work over S f i hours, time and a half I paid.
l
s
D iv id e n d s . — On pref. la 1911. 1912, 1913 and 1914, 6%.
None since.
Compare V. 104, p. 1801.
E A R N I N G S . — For cal. years:
F a r e I n c r e a s e . — In Jan. 1918 tho Oregon P. 8. Comm. auth. tho co. to
Y ear—
G ross.
N e t ,a f t . T a x . O th . I n c . I n t e r e s t . A c .
D eficit.
increase i s fares from 5 to 6 cents, tickets to bo sold 5 for 30 cents and 50 1917......$1,025,963
t
$139,127
$3,745
$562,003
$419,132
for $2 75. This schedule became effective Jan. 15 1918. V. 106. p. 190. 1916 ......
909,770
78,184
3,129
540,597
459,284
Compare V. 105, p. 1618. On Jan. 14 1918 tho Com m , denied tho city s
R O A D . — Operates Portland to Eugene, 122.31 miles; Garden H o m e to
petition to have the order suspended, or i s operation postponed pending Forest Grove, 19.45 miles; West Woodburn to Woodburn, 2.53 miles; Gray
t
litigation in tho courts, but ordered that receipt slips bo attached to tickets to Corvallis, 5.20 miles; Orenco to Bowers Junction, 5.05 miles; trackage
sold by the company, which are to bo redeemed for tho amount of excess rights, 1.72 miles; total length of line, 156.26 miles. Standard gauge.
faro charged in the ovent tho courts declare tho order invalid. On Mar. 14 70-Ib. T r i s
al.
1918 tho Circuit Court of Multnomah County, Wash., upheld tho ruling
OFFICERS.— Pres., L. O. Gilman; V.-P. & Comp., W. F. Turner; Sec.
of tho P. 8. Comm, in granting tho 6-cent faro. The city has appealed S Treas., W. G. Davidson; Asst. Sec., E. Pearson; Supt., A. J. Davidson.
c
to tho Oregon Supromo Court.
Citizens wore to have voted on M a y 17 1918 on opening tho way for tho — V. 90, p. 1297; V. 92. p. 323, 1311; V. 93. p. 1535; V. 95. p. 1274.
elimination of paving and other charges now pald.by tho co. V. 106, p.1797.
P O R T L A N D E U G E N E & EASTERN RAILWAY.
In April 1915 was absorbed by the Southern Pacific Co. See our “RailIn terest.
O u ts ta n d in g .
M a t u r it y .
STOCK A N D BONDS—
D a te .
Q-M
($15,000,0001 Seo text way and Industrial” Section.
C o m m o n $ 15.000.000 ($100)-----l 7 5 % paid /
6%
5,000,000 .
PORTSMOUTH, OHIO.
1st prof $10.000,000cum($100)
6%
5,000,000 ........
2d pref
do non-cum ($100) ___
P O R T S M O U T H S T R E E T R A I L R O A D & LIGHT.CO.
16.399.200 Fob 1 1942
Portland Ry Lt & Pow 1st & ' 1912 5 g F-A
Int. at Fidelity Tr. Co., Phila., Trus., Lee,
O R G A N I Z A T I O N . — Commenced operations In 1894. Leases Ohio
ref mtgo $75,000,000 gold
Iligginson & Co., Bos.; HIgginson & Co., Valley Traction Co.
(see text________c*&r*tf
London, Eng., and Columbia Tr.Co.,N.Y.
Does the electric light and power business in Portsmouth and N e w Boston.
7.814,000 Nov 1 1930 Including the city lighting. The street railroad serves Portsmouth, New
Portland Ry 1st & refunding 1905 5 g M - N
mortgage $10,000,000 gold Intorost at offico of Redmond & Co., N. Y.; Boston and Sclotoville. Owns an amusement park. Franchises extend
N o w York Trust Co., Trustee.
($1,000) sink fund--- c*tf
beyond 1935.
•
In Dec. 1914 issued $500,000 bonds to extend the railway lines from
1_.290_.000 June 1 1930
City & Sub con (now 1st) M J 1900 4 g J-D
($1,000) g (closed)___ ccptllnt. at Secur. Sav. & Tr. Co.,Port., trustee. Portsmouth, O., to Ironton, O., 22 miles, for lmpts., &c., and for the re
Portland Oon El first mtgof 1905
5 g J-J
7,769,000 July 1 1935 demption of the $50,000 bonds called for payment Jan. 1 1915 at 102. The
extension to Ironton O., i being built by a subsidiary, the Ohio Valley Trac
s
(seetoxt) gold ($1,000) c*tf)Int. at Harris, Forbes & Co., N e w York,
l
Seo text Jan 2 1^37 tion Co., a l of whose securities will be pledged as part security for the new
M t Hood Ry & Pow 1st mtgef 1907
5 g J-J
bond issue, and whose property will be oper. under lease extending to 1956.
$6,000,000 g($l,000)s f c*ntf (Union Trust Co., San Francisco, Trustee.
Wiliam Vail So Ry 1st M ntf 1914
6 g F-A
750,000 Fob 11939
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$3 000.000 ($100, $500 &{Int. at Cont. & Com. Tr. & S. Bk., Chic., Stock common $500,000--------------$250,000 --------$1,000 gu p i & s f c*ntf l Trust., or In Port, or 1st Nat. Bk., N. Y. Preferred $250,000 (6% cum).....
........
None
... .....
First mtge bonds $500,000? 1914
6 g J-J
500,000
See text
S to c k . — Tho stockholders on M a y 14 1915 approved tho plan by which
($l,000&$500)redl02H.c*\ Int. at Guaranty Tr. Co., N. Y.. Trustee.
thoy surrendered 20% of thoir holdings In tho then existing stock ($25,000,
B o n d s . — Are due serially $25,000 each July 1 from 1918 to 1934, both inc .
l,
000, 7 5% paid), paying at the same time $25 In cash for each share so
surrendered, and recolvod therefor pref. stock, share for share, one-half and $75,000 July 1 1935. V. 99, p. 1748.
E A R N I N G S . — For cal. year 1916, gross, $312,430; net (after taxes).
($2,500,000) 6 % cum. 1st prof, and tho other hair 6 % non-cum. 2d prof.
The $5,000,000 stock surrendered in connection with tho plan was can $145,609; In 1915, gross, $250,901; net, after taxes, $93,531.
celed. Stockholders of record Fob. 1 1917 wero given an opportunity to
R O A D . — Owns and operates 1 4 X miles of track, incl. 2 H miles leased.
convert a further $5,000,000 common Into 1st and 2d pref. stock on the 26 cars. 70-lb. T r i .
al
same terms, which was accordingly dono. Tho 1st pref. stock issued in
OFFICERS.— Pres., L. D. York; Sec. and Treas., H. H. Higgins.—
1915 I cumulative from Jan. I 1916; that Issued in 1917 i cumulative from
s
s
Apr. 1 1917 and will receive no divs. until a l accumulations on the f r t V. 98. p. 1317; V. 99. p. 1529, 1748, 1833; V. 100. p. 142; V. 103, p. 1793.
l
is
$2,500,000 shall have been paid; thereafter a l 1st pref. stock will bo troated
l
alike. V. 104, p. 1146. (See also V. 91, p. 1328; V. 95, p. 1274.) Com.
POTTSVILLE, PA.
I listod on tho Columbus and Louisville stock exchanges. Both Issues of
s
E A S T E R N P E N N S Y L V A N I A RYS. CO.
pref. stock are pref. as to dlvs. and assots and rod. at par.
O R G A N I Z A T I O N . — Incorporated In Pennsylvania in 1891 as tho TamaB o n d s . — Or tho remaining Portland Ry., Lt. & Power unissued, $17,813,
Ry., and name
Controls
000 aro reserved for prior liens and $40,036,000 aro for additions, improve qua & Lansford StreetSchuylkill Countychanged in 1906. the lower the
properties
and vicinity and
anments, &c. Donom.: coupon bonds, $1,000, $500 and $100; reg. bonds, followingcoal f eld. in
i
$1,000, $5,000, $10,000 and $50,000. Principal and interest also payable In thracito Union Traction Co.
The PortCarbon&Middleport El.Ry.
Pottsville
sterling, francs or guilders at fixed rates of oxchango. Callablo as a whole Pottsvillo & Reading Railway Co.
& St. Clair
at 105 and lnt. on or after Fob. 1 1922 on 60 days' notice. Cumulative Schuyl.Hav.&Orwigsburg St.Ry.Co. Pottsville & Pottsville Elec. Ry. Co.
Tamaqua
Electric RR.
sinking fund 1 % annually 1915 to 1926 Inch; 1 V i % 1927 to 1941 i cl. on Schuylkill Electric Railway Co.
n
Eastern Penna. Lt., Ht. & Pow. Co.
total amount issued. Bonds in sink, fund to be kept alive and lnt. added Coal Castle Eloctric Railway Co.
The Tumbling Run Park Association
to fund. Convertible at any time at holders' option Into capital stock at a
Most of those
are without
but where bonds have
price equal to the amount paid In on such stock, plus $10 premium per boon issued they companies providod forbonded debt,under tho consolidated
have been
or
$100 share. Seo V. 94, p. 631. Bonds aro listed on N o w York Stock company’ now mortgage, together with a deposited
s
l , or practically a l theirstocks,
l
l,
Exchange; $87,000 aro in treasury and $664,800 are held in sinking fund.
82, p. 1437. F r a c h is e s
Portland Ry., Light & Power notes were originally for 2 years, out have V.in April 1914 tho nPenna.aro practically perpetual. application of the
P. S. Comm, denied the
beon renewed from time to time. Thoy are red. at par and lnt. on 60 days Schuylkill Light, Heat & Pow. Co. for permission to carry on a competitive
notico. Denom. $1,000, $5,000 and $10,000. Notes of $10,000 and $5,000 electric-lighting business in the Borough of Ashland, now served by the
aro exchangeable at holders’ option for notes of $1,000 donom. They are
secured by deposit of entire Issue of 1st M . bonds of Mt. Hood Ry. & Power subsidiary lighting co. of this co., the Eastern Pennsylvania Lt., Ht. &
Power Co. Seo V. 98, p. 1392.
Co. and tho entire stock (except directors’shares) of the Mt. Hood Co.
Tho
Electric Ry.,
Tho Portland Ry. 1st & re . M. has beon closed at $8,523,000. A s in k in g capitalPottsvillo & St. ClairIn tho interest incorp. in Oct. 1915 with $13,200
f
stock,was organized
of the company to construct the
f u n d bogan in 1907; tho amount was $25,000 per ann. from 1907 to 1909 incl ■
lino from Pottsvillo to St. Clair (placed in operation Aug.
$40,000 per ann. from 1910 to 1919 i c . and $60,000 per ann. from 1920 outstanding $150,000 (auth. amount $350,000) 1st M. 6 % 11 1916). It has
nl.
gold bonds dated
to maturity of bonds; these payments aro based on an original amount out
June
lnt. payable J. &
fiscal
standing of $5,982,000, increasing proportionately as additional bonds wore June 1 1916 and due to call1 1946; and lnt. Trustee, D. at Estate agent.
Pottsvillo, Pa.; subj.
at par
Real
Trust
Issued; said funds to bo investod In tho bonds at not moro than 105 and i t., Co., Philadelphia.
n
at which price bonds can bo called for the purpose. Bonds are to bo kept
F a r e I n c r e a s e . — In April 1918 announced an increase in fares to 7 cents.
alivo and boar intorost. Red. at 105 and in . on any in . date upon 00 days’
t
t
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
notico. $709,000 are in sinking fund. Seo V. 81. p. 1437. Tho bonds aro
$4,000,000
listed on tho N e w York, Louisville and Philadelphia stock exchanges. Common, $5,000,000 ($100)-_______
946,820 See text
Prof, $1,000,000 ($100) 5%c ___
V. 82, p. 806; V. 83, p.‘1471.
, „
4.446,500 July 1 1936
The authorized amount of Portland General Eloctric Co. mortgage was First mortgage, $6,000,000, gf 1906 *5 g J-J
Central Trust Co., N e w York, Trustee.
($500 and $1,000)___ c*tf
originally for $10,000,000, but mortgage has beon closed at $8,000,000.
6 g M-S
50,000
$231,000 rotirod by sinking fund. Bonds aro subject to c l as a whole at Pottsvillo Union Trac. 1st M.f 1899
al
'lnt. at Real Estate Trust Co., Phila., Trus.
gold $1,000,000......
107 H and interest on 4 weeks’ notice. A sinking fund of 1 % per annum
■99.000 Feb. 1 1927
1
6g
of bonds out commenced M a y 1 1915. Bankers Trust Co., N o w York, Pottsv. & Road, first mtge, g 1895 Real F-A
~
- Estate Tr. Co., --Phila., Trustee
$100,000 ($1,000).....c* Int. at
trustoo. Thoy aro listed on tho N o w York Stock Exchango. V. 92, p 1437.
.
6 g F-A
295,000 Feb. 1 1925
___ _______
_____ .
$5 000,000 of Mt. Hood Ry. & Power bonds aro deposited as collateral Schuyl El Ry 1st M $500,000, 1895
Int.
($500 and $1,000) gold.c*tf lint. at Real Estate Tr. ®o., Phila., Trustee
under Portland By., Light & Power notes. Sinking fund began Jan. 1912,
5 A-O
11,000 See text
1 % to Jan. 1916 In l ; 1K % 1917 to 1921; 1 M % 1922 to 1926; lJi% Ed Elec Ilium Co of Ashland.} 1908
c.
Pa. bonds $15,000 ($500)--lint, at Ashland. Pa.; Schuylkill Tr. da i Tr.
1927 to 1931; 2 % 1932 to 1938.
108
E L E C T R IC R A IL W A Y S
[Vol. 106.
Sufficient 1st M . bonds of 1906 aro reserved to retire $445,000
nrovemon^*
por£ion , reserved for future extensions and ims
*333-500 haye b?en canceled. Registered bonds are ro-connnfiin
couPon bonds. Aro subject to call at 110 and int. on 4 weeks’
v°sC8’ ' ' ; Payable in N. Y. Seo dascription of bonds and property.
o
ji
X/r.%9’
V - 9 ’ p - 279, S4,000 of Ed. Elec. Ilium. Co. bds i* s in k .
i
'
n
Bonds aro duo any int. date at company’ option.
s
F A R K t ^ r c . 1 ” 2 * % - on prof. Mch. 1907; none since.
^
E A R N I N G S . — For years ending Dec.31:
B in t-
unitor
R °?boro and Pino Level. Tho company also supplies,
undor contract, tho entire requirements of the municipal electric light and
PO'jysysterns in Fayetteville. Smithfield, Selma. Wake Forest and Clayton.
Roxboro and'pfnly 11'vef eIectrlc light and P°wcr systems in Franklinton.
„
-nrEle<r rlc and gas lighting franchises in Raloigh are perpetual,
f
tomllVn to / n tb0roarTWaY oxtonds ,t o } 0 4 5 . Tho Durham gas franchise exMtenri ti9i07i ^ o9i ,
5
Sanford and Jonosboro the franchises
Y ea r en d .
G ro ss
E xp en ses
N et
rioM o l 0™ 9!1! 197A ’ 1?^2oand 2003, respectively: in Goldsboro, Smlthni
D e d u c tio n s .
B a la n c e ,
f °r?oavr1r , Q L ?Y? it0 1972> and in Fayottovilio franchise I perpetual.
Il i
n
.
s
31> Earns.
A: T a x e s .
E a rn s.
( A l l C o s .)
S u r p lu s .
nno onn31
,
“cr®as®d authorized common stock from $2,500,000
$680,593
$314,590
1917....... S095,i83
$ 2 6 9 ,8 3 5
$ 4 4 ,7 5 5
to $5,000,000, and authorized preferred from $1,250,000 to $2,500,000.
1916------- 923,831
591,466
332,365
2 4 0 ,5 3 8
9 1 ,8 2 7
2 2 9 ,3 9 9
1 2 1 ,8 1 1
StoX°<SS ^ T n n Bnnn?«S
i77n D a t c ‘
M e
M at
___r e s t . O u ts ta n dj o .M i v ’isu r i t y .
si 7«7 ein g
o
uc/
^,.l^^4i.~Olwrat«?61.69ml!es^f\rack,3
connectlng Pottsvii'io wltb^jorkl stock com 355,000,000 (S100).__ _
1.
861.300 Apr * 8 ^ ^
1
A ’ Palo Alto.Belmont, Cumbola, Mount Carbon, Port Pref $2,500,000 7 % eumCSfOO)___
i
FIret„m°rtgago gold $5,000,-/ 1908
5 g F-A
3 212 500 An. 1 193S
9 aL
r’
^bHadeJphla, Middleport, Schuylkill Haven.
^ n amT : v9:wi^ burK’C o a -Castle, Glon Carbon. Tumbling Run, Brockn M h 1,000)" f ' t
/'GUf
aran$y Tr'C o “ N 'Y " *
iru9' In*-In N -Y.
Mauch Chunk
Tamaqua- Eansford, Summit Hill, Nosquohoning and in the h7nds of VeTublic proferrod stock outstanding. $1,794,800 i
s
1- OFFICERS*. Pres., J. H. Pardee; V.-P.s.t R. Walter Leigh and Joseph
l
5509’
000 are for exchange, bond for bond, for bonds of other
companies, under certain restrictions, and remainder for impts.. extensions,
Tro?sh W n C‘ T roas; T ‘ \ T- M o ff all of N. Y.; Asst S e c . & Asst,
;
V
at.
°u S }
! mo when net earnings for 12 mos. are twico interest
fim
r
Oen. Mgrs., ? > r wi n V;!V Corp., N. Y.— V S. Cairns, Pottsville, 17 m* on bonds out and to be issued. Ked. as a whole or in part for sinking fund
J. CA White Mgt. A Isr” Leonard 07 n 1094* V os n Pa.;
.
v . 103. p. 1118; V. 104. p. 256 V. iol p. 1522;' o . p.’1796 1
;
W
° ’ on .any int. date upon 3 weeks’notlco at 105 & int. Sinking fund 1 % an#?al1Knn b°nds«ut fro®1A u K- 1 1913 to Aug. 1 1922, inch: thereafter1 % % .
’
M31.500 have been rotired through operation of sinking fund. Seo V. 98,
POUGHKEEPSIE, N. Y.
P O U G H K E E P S I E & W A P P I N O E R S FALI S R Y
pRGANIZATION.-Chartered March 22 lSat as the Poughkeepsie
C u u , i Y i 091
nkers Falls Electric Ry. N a m e changed to above June 1917
T V w o n a‘C S m v 'has au, tho,
./
th'
co-to make a new mtge. to the Equitable
S*5?? L°; of N. Y.t securing an Issue of $5,000,000 5 % 1st M. sink, fund
fcold bonds, and to issue $590,000 thereof to take up the existing bonds.
StnX° 9 ? non*nnr?? N D< ,
>
S
D a teIn terest.
O u ts ta n d in g .
M a t u r it y .
Stock, $1,000,000 (par $100). ..............
$750,000
First mtge, gold1 ($1,000) s f 1894
f
5 g J-J
343,000 J u ly " 1*1924
no option SoOO.OOO--- c*lCont. Tr. Co., N.Y.. Trustee. Int.in N Y C
*250.000 1907
6 g J-J
250,000 July 1 1937
($1,000), gold— ------ c*llnt. at Poughkoep. Tr. Co., Pough., Trustee
lv
e B?oafl'”«intnon?;??m SK ri ,lndtod *0 $2£.000 per nolle of completed tro °
l
|f?K nnol'Jhil’
0£?,
t js
h
issuable when track i laid and remaining
s
nf ?hiP Kd Y V1 tr0iYy ' SmRIntg fund began Jan. 1 1897,
P
? 3
f
«7a noYondy *»««! hereunder”; bonds purchased at not ex1 i ’ *73.000 not reported outstanding aro held in sk. fd 2d
mtge. bonds are subject to call on any Int. da> at par,
R O A D . — Owns 15.14 miles of road, leases 1.5; second track, 1.14 miles'
sidings, .59 miles; total. 18.37 miles of track. 27 cars.
^ A U ^ S ’ J ° r “ ° « « nl June 39 191l- Bros3-*200.326: net. after
T
„
,nt" &c- 535,729; surplus, $4,299. In 1915-16 gross
>
$ 97,952; net. after taxes, $54,645; other income, $544: int.. &c., 329*754:
surp., c 60i o 4*
4
Tr2SFI'TEw S
■4M r3aJ’ 'Y’.
H,nkJey; v - p - Mary Hlnkley; Sec. &
.
Treas., 1 W. Moffat; Asst. Sec. & Asst. Treas., H. B. Brown: Mgr C A
Brooks: Aud.. J. A. Nilan. Undor management of J. G. White’ Mgt!
Corp.— V. 84. p. 1552: V. 85. p. 795: V. 104. p. 1388. 1801, 2642.
PUEBLO, COL.
Cl HE) A R K A N S A S V A L L E Y R A I L W A Y , L I G H T & P O W F R C O
o m m I m and 53,665,000 i i G+ ‘ o yns 5405,000 preferred. $3,499,400 of the
r s
v
o m mo n aanH^gg nr a nnorfir t and refunding bonds.
O R .5A S*nZ A 7 I O N ' - [
~ , neorp. ,n Colorado on Nov. 14 1911. Has taken
over tho following companies (V. 93, p. 1460):
Colo. Lt & Row. Co. of Canon City ILa Junta Electric Co.
Gold Belt Consol. Electric Co.
Pueblo & Sub. Trac & LDhtin^ Co
La Beila Mill Water & Power Co. 1Rocky.
Fonl Electee Co *
* °°
ownership only4 M ‘ ’ Wator & Powor C o - l controlled through stork
s
T>,££n,tr0,?,Yn
strc0t railway and electric lighting and power Interests In
Pueblo, with a large lighting and power business in tho Cripple Creek dl s
1 9 5 3 ,,“ w"
s S S H
H
U
m
; . . D“ :
ffi3 8 li3 3 -ac0
M»
Pref $4,000.000($100) 7 % c u m ___
Q - M 15
1 083 300 M i 'lA YL
r
F1” * * nn m m . y
r
tg, t*10.0W.OOOf 1911
5 g M-N
3i6M 000 Nov 1 193I
g ($1,000) sinking fund. c*l Int.atCont.&Com.Tr.* S. Bk., Chic, trust
Pueblo Traction & Lightingf 1901
5 g J-J
980,000 Jan' 1921
l
fSfnftm*8889 (closed) gold jInterest at International Trust Co., Donver
.liuu;—
---- c*l tru ste e , o r a t G u a r a n t y T r u s t C o . N Y
Pueblo & Suburban 1st mort- 1 1902
5 g A-O
1,797 000 Oct 1 1922
gage (closed) ($1,000)--- gj Interest at international Trust Co., Denver
sinning tund---------c*( trustee, or at Guaranty Trust Co N Y *
G $500, $1,000) 000 _c*tf\Cont. A Cog J' Tr. * Sav. Bk..July 1 trus.
S500OtH onm00'
c191,
6 p, m m .
J
450.000 Chic., 1919
S<0f^rrPr9fV? t 0 F k ? ^c 1 at 110 on 60 days’notice. In Oct. 1917lssued
x,
an additional block of $450,000 for extensions and additions $291 700
in treasury.
' °
O f the remaining f r t and r f bonds, $603,099 aro in treasury
is
e.
n,w7Z7’L k are re3erved for prior liens and $2.658.000 for extensions; $287.
'°
000 have been redeemed. Subject to c l at 105 and int. on any Int day.
al
i ;
1916 to f(? n“iv'“d» e?an issue’ \ the Puoblobonds certified 1913 to 191o.
1930, 2%. Entire N o v of 1913, l T° f t Suburban 1st M bonds i
s
reHreCat?eYs^$a rmn‘
-n1
hr!nV A sinkin0 f u n d began in 1909. which must
retire at least $,)0,000 bonds per annum, said fund to bo invested in the
Jn open market at not higher than 104; otherwise bonds can bo called
fssuo^of 1 ueblo Irac.
t
;5
,'\r bonds may bo been canceled. n . A
issuo or ^hfehkYTr7c" \ ? Ltg. 1st AI.*507,000 havo called at 104 iEntire
f
s in k in g f u n d of $10,000 annually on these bonds began In 1906 and may be
used to call bonds after Jan. 1906 at 104 & in . See V .72^P 8*" $120t
000 have been canceled. 1 ho gold notes are redeemable on 60 days' notice
on any Int. day on or before July 1 1918 at 101 & i t ; thereafter at^any time
n.
on like notice at 100K & Int. Additional notes may be issued only when
F0c 0ar,
f
niugS’ after deducting annual bond I t., are 3 times t h e W u a l
n
Interest charge on a notes out and those to bo Issued. V. 102 p 152
ll
^
Pref' 1 3/i % quar'from June 1912 to Mar. 1918.
’
‘
E A R N I N G S . — For years ending Dec. 31:
C a lerid a r
\ ear—
G ro s s
ham s.
N e t , a fte r
T a xes.
I n t . C h a r g e s,
& c . (N 'et)
D id rtm/N
B a la n ce
fa m in e
T „ DJ ^ f " i ' i ; 7 ~ 0/l p r e e ' ’
n
quar. from July l 1909 to Dec. 31 1910, inch
! 7?M-rand duar. since, \ H % . Initial div. on com.— 53 of 1 % —
paid fob. 1917; same rate quarterly since.
™
'
E A R N I N G S . — For 12 mos. ending Dec. 31;
Veer
TTnJ^
N %. (afteJ
T0 t h e r
B on d
O th er
B a la n c e .
, „ Y£ ar—
E a r n in g s .
T a x e s .)
In com e.
In terest.
I n t .. A c
S u rn lu s
1917-----*916.401 $333,284 $138,443 $161,426 $14,185
$296 110
O liiVi'n 786,916
279.953
102.814
150,368 28,319
201,080
2,411,319 passengers carried in 1917, against 2,212,162 in 1916.
1 r1 A D ' .Owns 13.6 miles of road; gauge. 4 f . 8 H i
>^5)
t
n. 60-70-Ib. T r i s
al.
10 open motor cars, 11 open trailers, 13 closed motor cars and 1 mlscell.
3 W u r n B u o 19a
1 rYd 9 sub'stations: 215 miles transmission l
ines.
xv O F ^ IO, K S ’ : ? os’
K
_ 1; A
E -•
Johnson. Raleigh; V.-P.’, H. H. Carr
s
P arbs o.
e and
F - McGee; Sec. & Treas., E. P. Summcrson, N. Y.;
Asst. Sec. & Asst. Treas., L. W . Osborne. N. Y.— V. 103 n 2937* V 104
p. 1188; V. 105. p. 180. 1312; V. 100. p. 818. 2122.
P'
’
'
(1) Asheville Power & Light Co.
o.
,
AN.
IZ^ T
I
,
T
,FC0.FV• OI> March 25 1912 In North Carolina as
successor to tho Ashoville Electric Co. All tho common stock, except
directors shares, i owned bv Carolina Power & Light Co. Does entire
s
«Vn\n$
erCm* anc* *i c
, Jun £paL el i Iteht, gas and street railway business
ectr c
of Ashoville, and i s suburbs. All fr a n c h is e s , except for 1 l miles of street
t
A
railway expiring in 1952. are perpetual.
Has favorable contract to April 1 1928 with tho North Carolina Electrical
Power Co. for power.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
C o m m o n $1,000,000 ($100).. . ..
$ 1 ,0 0 0 ,0 0 0 S ee “ ea rn s.
......
Pref $1,000,000($100)7% c um....
0 3 9 ,7 0 0 A p r '1 8 , 154
1 , 2 2 0 , 0 0w «„r 1 xuuz
Flm ?in°mgag0 55'
000'
0°0 k/.1?12 TT5'g'A-O
.,«u, 0 A p r x 1 9 4 2
u
( ; P 00)7. . r ..... c*.tf lint, at U. S. Mtge. & Tr. Co.. N. Y.. trustee.
^
--r
n
FY1!0? stocki except directors’ shares, i held by the
!! ,
s
S^[9.700is“Y7hfhandsof pubUcf th° a m °Unt °f Pr°f’ 8t0Ck oqtstanding.
B o n d s .— -K e m ^ in in K bomis are Issuable at 80% or cost of permanent imRnYyt=I
Y?Ytr ? r.Stc j ons ,vt e net earnings aro twice interest charges on
o, i i l
' ln
fF l Issued- .Subject to c l as a wholo or in part for sinking
c„ Je
al
10o & int. on any int. day. S in k in g f u n d ,
on April 1 1017
s V v . V . np :
i3ll1923 t0 19271 i y j % 102' t 0 193^ 2 % 1 9 ^ to 1941.
^
c VSr‘ has ending Dec. Pref.
1
E A R N I N G S . — For l12 mos. beFn paid 0 1 31: stock since April 1912.
G ro s s
N e t . a fte r
In terest
B a la n c e ,
—
E a r n in g s .
T a xes.
( N e t .)
S u r p lu s .
$219,481
191/---- -------- $501,725
$ 5 8 ,9 4 4
$ 1 6 0 ,5 3 7
*919------------ 461,749
191,974
oa.wi
i3 6 , 5 7 3
«
5 5 .4 0 1
1. j
catried in 1917. agaiast 5,165,627 in 1916.
JJOAD.— Operates 19.2 miles of railway.
OFFIOERS.— Pres., Chas. E. Johnson; V.-P. & Gen. Mgr., n. W.
1 lummor; Sec. & Treas., E. P. Summerson.— V. 95, p. 110; V. 106, p. 818.
(2) Yadkin River Power Co.
Is controlled by Carolina Power & Light Co.
O R O A N I Z A T I O N — Incorp. on March 20 1911 in North Carolina as
mccessor to tho Rockingham Power Co., sold at foreclosure. V. 93, p. 173.
O wns and operates hydro-electric plant on tho Yadkin River, lighting and
power systems in Rockingham. Hamlet and Wadosboro, N. C.. and Choraw.
H. C.. and electric power servico in Lumborton and Lllesvillo, N. O.; also
undcr contract, tho entire requirements of tho privately-owned
!
Y ldi
systonxs ln Maxton and Laurinburg, N. O., and of the
municipal lighting systems of Lilesvillo and Lumberton. Nono of tho
I r a n c h is e s expire prior to 1971. In July 19 17 acquired control of Carolina
, as. Electric Co., which supplies electric light and powor to Florenco,
' .
Darlington, Marion, Mullins, Summervillo and Timmonsvlllo, S. O.; wator
Darlingt°n and Marion, and ice in Florenco, Marlon, Summerville,
Darlington and Timmonsville.
..-^in^YAY1915 authorized capital stock was increasod from $4,000,000 to
tO.UUUtUUU*
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $4,000,000 ($100)..__
................... ..
$ 3 ,8 3 5 ,0 0 0
Prof $1,000.000($ 100)7% c u m ....
"CLj"
8 2 2 ,5 0 0
A p r ’ 18 1M
First mtgo $15,000,000 gold/ 1911
5 g A-O
o.ouu. 0 0 0 Aur 1 1 9 4 1
3 , 5 0 0 uuw
A p r i iwai
I '1
j ??9 “
M
so-lo'nnn'iuT n , V i
m ' - ' Int'at °id Colony Tr-Co.. Iloston. trustee.
i7?v (5lS.0, n, ^ ncl-in amount reported outstanding, aro in treas
°
ury, and $18,000 in sinking or Improvement fund; remaining bonds aro
reserved for extensions, &c. Bonds have impt. fund of % of bonds out
9°/U\ oYi*Vo
’ ;'
1920 to 1930. and
2 7o 1931 to loinm 920« IF1 ..to c l as a1925. 1 on% any int. dato or In
1940 Incl. Subject K% 1921 to whole «
al
Part for improvement fund at 105 and int. on 4 weeks’ notice, a l bonds
l
thus acquired to be canceled.
D iv id e n d s on preferred stock were begun July 1916.
. * B O P E R T Y . — Has generating capacity of 24,000 k. w.. a l hydro-olec.;
l
niU(M<)f transmission lines and 59 miles distributing l
ines.
E A R N I N G S . — For 12 months ending Dec. 31:
toV r a r ~ ~
N e t ( a ft e r t a x e s ).
I n t .( N e t ) .
B a l..S u r .
}9}7........... $501,010
$358,573
$176,915
$181,658
1916.. ..... ... 427,008
314,437
210 137
104 300
OPFICERS.— Pr&s. £has. E. Johnson: Sec. A Treas.’ E. P. Summerson’
,
— V. 100, p. 2173; V. 103, p. 2245; V. 106, p. 818.
.Y e a r
$373,033
$201,578
’
$70 611
J9}7 .....5645,222
191b----- 1,260.287
564,762
345 699
lTl 97r
»
no
35u miI^ °f tracic* a 1 In city of Puoblo. ’Gaugo.^4 f .
1
t
65. 72 and 75-lb. r i . 50 cars, of which 42 are motors. Has . hydro
al
a
electric power plant at Skaguay, on Beaver Creek, near Victor; st6am-olectric power houses in Canon City and Pueblo, and reserve stations at La
Junta and Rocky Ford: combined capacity. 26,165 h.p. Has 297 miles of
READING, PENN.
transmission and 312 miles distributing pole l n s
ie.
EASTERN POWER & LIGHT CORPORATION.
OFFICERS.— Pres., G. I . Harries: V.-P. & Mgr., W. F. Raher- Treas
I
R. J. Graf; Sec., Herbert 1 1 t Gen. Mgrs., I . M. Byliesbv A Co Inc ’
,s:
I
O R G A N I Z A T I O N . — Organized In Virginia March 12 1913 to acquire,
Chicago. 1 1 V . 102, p. 152; V. 105. p 1521: V. l60 p! 924 1576 '
1.
lmprovo and dovolop street and interurban railways and otlior public u i
t ll^ i Yr
*x
i s aro owned in Vermont. N o w Ilampshfro, I onnsylvanla.
o
’
a?c «
lu es^ Vir^ ? Ia* Controls tho following companies through ownership
of their securities as shown:
RALEIGH, N. C.
C A R O L I N A P O W E R & L I G H T CO.
Reading (Pa.) Transit & Light C o ............
a$5.‘
l6l*500
Electric Bond & Share Co. acts as fiscal agents for tho company.
West Virginia Traction A Electric Co..
1 250 000
^ O R G A N I Z A T I O N ,&C.— Incorp. In North Carolina Feb. 19 1908. Sue- Claremont (N. H.) Railway & Lighting Co..I.Ill "l60'666
’
l44,’
300
Raleigh Street Rv. (chartered 1881, road opeued 1886). Raleigh Claremont (N. H.) Power Co. ..............
2Q0,0()0
O700.000
Electric Co., Central Carolina Power Co. and Consumers' Light & Power C o l o n i a l P o w e r * L i g h t C o . ( V t . ) . I I I H I I
283 000
2 6 0 ,5 0 0
C la r e d o n ( V t
On Nov. 1 1910 acquired Durham Light & Power Co., on M a y 11911 ................................) . P o w e r C o ______________________ I I
2 8 0 ,1 0 0
^ L n ^nderS0Ji t tg' & Po, ' P°" alul on A u «- 1 (Ml the Standard Gas A E a s t e r n U t i l i t i e s C o a l C o ____________
w
5 0 0 ,0 0 0
EJeP- C O ” which companies have been merged Into the Carolina Power A
a P r e fe r r e d a n d c o m m o n s t o c k .
Light Co. On Nov. I 1911 leased the Oxford Elec. Co. On July 1 1912
S e p a r a t e s t a t e m e n t s fo r t h e fo r e g o i n g c o m p a n i e s a r o g i v e n b o i o w , o x c o p t
acquired the Goldsboro lighting property (municipal plant). Also owns fo r t h o E a s t e r n U t i l i t i e s C o a l C o . , w h ic h s e o in V . 1 0 1 , p . 2 2 3 7 .
V
the entire common stock, except directors* shares, of the Yadkin River
I n J u l y 1 9 1 7 d is p o s e d o f it s h o ld i n g s in t h o C i t y E l e c t . L i g h t i n g C o . o f
P o w d Co. (which controls the Carolina Gas & Elec. Co.) and tho Ashoville V in c e n n e s , I n d . , w h o s o p r o p e r t ie s w e r e m e r g e d w it h t h o I n d i a n a P o w e r A
Power & Light Co. (acquired In March 1912). In Sept. 1917 acquired w a t e r C o .
additional water power sites. See V. 105, p. 1312.
1
STOCK' A N D B O N D S—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Operates entire street railway, gas and electric light and power scrvlco in
$10,000,000 ($100).............
$6,500,000
Raleigh, gas service in Durham, light and power sorvice In Henderson, Commoncum $10,000.0001$ 10 0)____
Prof 7%
2.350.000
Q - M 15*
Seo te x t.
Oxford, Sanford, Jonesboro and Goldsboro, and light and power service
7%
’ 2 . 3 2 7 5 0 0 S e n t 1 19 1 8
for manufacturing purposes In Fayettovlile, Cumberland, Smlthflold C o l l a t e r a l t r u s t n o t e s $ 2 , 3 2 7 , - 1 1 9 1 8
oOO g o l d ------------------ ------------------- / E q u i t a b l e
T ru st
C o .,
Now
Y ork,
tru ste e .
m ay,
1918.1
E L E C T R IC
S to c k . — Pref. stock was 6 % cum. from March 1 1913 and March 11916 be
came 7 % cum. Has preference for both assets and dividends, and equal
voting power with com. Pref. stock i subject to call at $125 per share.
s
D iv i d e n d s . — Initial div. on pref.— 134 % — paid June 15 1913. Same
amount quar. to and incl. March 1916. Prom Juno 1916 to and inc .
l
Sept. 1917 l * A % quar. was paid. Dec. 1917 div. passed (V. 105, p. 2455).
N o te s . — Issued March 1 1918 in exchange for a liko amount of conv. 5 %
bonds, due on that date, which have been deposited to secure the notes.
E A R N I N G S . — For years ending Dec. 31:
C a le n d a r
Y ear—
T o ta l
In com e.
1017......-.$393,795
1916 ..... - 472,194
1915--.... 320,260
C a le n d a r
Y ears—
E x p en ses B on d , & c .,
& T a xes. In terest.
P r e fe r r e d
D iv i d e n d s .
B a la n c e ,
S u r. o r D e f
$33,340 $212,893 (5M)$109,666 sur.$37,896
43,657
187,337 (7%) 160,583 sur. 80,617
26,752
157,145 (6%) 141,000 def. 4.632
C o n so lid a te d E a r n in g s o f S u b s id ia r y C o m p a n ie s .
G ro s s
N et
D e d u c ti o n s
A p p li c .t o B a l .f o r
E a r n in g s .
In com e.
f r o m I n c . S u b .C o .S tk . D e p r . , & c
1917-------- S4,495,593 $1,730,931 $1,273,326 *$65,094 $392,511
1916.......
3,969,700 1,743,315
1,199,778
*64,735 478,802
1,166,300
*59,945 328,374
1915--------- 3,412,658 1.554.619
* Amount applicable to stock of sub. cos. not owned.
2272, 2455: V. 106, p. 924.
(
1) Reading Transit & Light Co.
All the common stock and $1,511,500 of the $1,700,000 pref. stock are
owned by.Eastern Power & Light Corp.
O R G A N I Z A T I O N . — Incorp. Aug. 1917 as a merger of the o ld Reading
Transit & Light Co. (which then ceased to exist) with tho United Traction
Co. (Reading), Boyertown & Pqttstown Ry., Birdsboro St. lty., Reading
& Womelsdorf Elect. Ry., and Front & Fifth St. Ry., a l of these properties
l
having been operated under leaso. Controls through stock ownership the
Oley Valley Ry. and Neversink Mountain Ry. Leases tho Lebanon St.
railway system and tho properties of the Reading Traction Co., Adamstown & Mohnsville Electric Ry., Schuylkill Valley Traction Co. and
Reading & Southwestern Ry. Also owns a l tho common stock of the
l
Metropolitan Edison Co. (which see below). Owns or controls and oper
ates tho street railway systems in and about Reading and Lebanon, and
tho system of street and interurban railways extending from Reading
through Norristown to Philadelphia, serving a population of about 350,000.
Principal leases contain options to purchase, also satisfactory provisions
for refunding underlying obligations. F r a n c h is e s aro without time limit
and unrestricted with unimportant exceptions.
The company also operates a l the util t e supplying electric light and
l
iis
power without competition in 57 towns, inc . Reading and Lebanon, Pa.,
l
and wholesales to distributing companies in 32 towns having a total popu
lation of about 200.000.
F a r e I n c r e a s e . — On Jan. 10 1918 an increase in street-car faros from 5 to
6 cents went into effect on a l lines of the company in Reading, Norristown,
l
Roxborough and Lebanon. The suburban fares having been increased to
6 cents on Nov. 6 1917, a universal 6-cent fare i now in force.
s
S T O C K A N D BONDS.—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Common, $3,650,000___________
_____
$3,650,000
Preferred, $2,600,000___________
____
1.700.000
Sec’ Gold Notes $2,600,000) 1917
d
6 F-A
_
2.450.000 Aug 1 1919
($100, $500 & $l,000)c*.tf.J Int. at Equitable Trust Co., N. Y., trustee
Gen & Ref Mtge, $30,000,000. 1917
5%
See text
Aug 1 1947
O ld R ea d . T . & L t. C o .
—
Car
trust certificates “A"/ 1916 5 J-J
90.000
See text
$100,000 ($1,000)_______lint, at Girard Trust Co., l’
hila., trustee.
Car
trust certificates “B ”\ 1917 5 M - N
50,000
See text
$50,000 ($500)_________ /int. at Pa.Co.for Ins.on Lives,&c.,Phila. t .
r
R ea d in g T r a n s it C o .
—
Car
trust certificates " A ”/ 1912 5 J-J 1
60,000
See text
$150,000 ($1.000)_____ c*\Int. at Girard Trust Co., Phila., trustee.
U n ite d T r a c tio n C o .
—
First M coll trust g $150,000 1896
5 g J-J
58,900
See text.
(par $100 & $l,000).c*cpt Real Estate Title Ins. & Tr., P i l . Trusteo.
lia,
Oloy Valley R y stock trust ___
5 J-J 1
248,000
July 1931
certificates $250,000_____ Int.at Real Es.T.I.&Tr.Co..Phila..trustee.
Road-Womelsd 1st M $400. 1895
5 g J-J
400,000 Jan 1 1925
000 ($100 &c).... c*.cpt- Int.at Real Es.T.Ins.& Tr.Co.,Phila., trusteo
Birdsboro St Ry M , $250,000 1904
5 g J-J
250.000
Jan 1934
gold ($500&$1,000).C-cpt/Int. at Colonial Tr. Co., Reading, Trusteo.
Boyer & P St R y 1st M.S300,- 1906 5 g F-A
300,000 Aug 11936
000 ($500 & $l,000)g.c*cpt Int. at Colonial Tr. Co., Reading Pa., Trust.
Front&5th St R y 1st M $50, 1903
5 g J-J
50.000 July 1 1933
000 g ($100 & $500).c*cpt. )Int. at Colonial Tr. Co., Reading, Trustoe.
Oloy Valloy R y first mtge, 1901 4 ^ g J - J
250,000 July 11931
$250,000 g ($l,000)_c*cpt Int.at Real Est. Title Ins.&Tr.Co.,Phila.,Tr.
Noversink Mountain bonds.. ___
4 J-D
100,000 June 1 1931
lint, at Colonial Tr. Co., Reading.Pa., Trust.
L e a s e d L i n e S e c u r itie s —
A d a m & M o h n 1st mortgage/ 1904
5 g J-J
75,000 Jan 1 1935
$75,000, g ($1,000) r*cpt(Int. at Colonial Tr. Co., Reading, Trustee.
Itead-S Wist M , $100,000/ 1900
5 F-A
100.000 Aug 1 1931
($500 & $1,000)---- c*cpt(lnt. at Pcnna. Tr. Co., Reading, Trusteo.
See separate statements for Reading Traction, Schuylkill Valley Tract.
Lebanon Valloy St. Iiy., and Metropolitan Edison Co. below.
N o t e s . — The 2-year Gold Notes aro secured by deposit or $3,000,000 Read.
Trans. & L. Co. Gen. & Ref. M . bonds, duo 1947 and a l of tho common
l
stock ($3,000,000) of the Metropolitan Edison Co. N o now mortgage
without equally securing notes. Call, at 100H and int. on any int. date
on 30 days’ notice. Tax free in Penna. Tho notes, with certaiu junior
securities, woro issued to provide in part for the acquisition of the common
stock of tho Metropolitan Edison Co. and the property of the United
Traction Co.
B o n d s .— $3,000,000 R. T. & L. Co. Gen. & Ref. M . bonds are deposited
as part security for the 2-year gold notes of 1917 and $8,000,000 are re
served to retire underlying bonds of the merged and leased companies and
to acquire leased cos. i purchased. Additional bonds may be issued only
f
for 80% of the reasonable cost of now property, oxts.. &c., whon net Income
i 1A times the annual interest charges, i c . bonds to bo Issued. A main
s
nl
tenance and depreciation fund of at least 15% of annual gross earnings i
s
provided, any part not used for malnt., renewals and replacements may be
expended for exts. and addns., such expenditures not to be the basis for
additional bonds.
O ld Reading Transit & Light Co. car trust ccrtifs.. Series "A,” mature
$10,000 annually to July 1 1926: subject to call on any Int. date at 101 and
int. on 30 days' notice. $10,000 have been retired. Secured by 25 cars,
t t o remaining with trusteo until entire issue i paid. Reading Transit &
il
s
Light Co. car trust ccrtifs., Series “B,” mature $5,000 annually to Nov. 15
1927: subject to call on any int. date at 101 and Int. on 30 days’ notice.
Secured by 9 cars. Reading Transit Co. car trust ccr i s , Sorias “A,”
tf.
mature $7,500 semi-annually to Jan. 1 1922: $90,000 paid o f subject to
f;
call on any int. dato at 101 and i t on 60 days’ notice. Secured by 36
n.
cars, costing approximately $215,000.
U n ite d T r a c tio n C o . — The 1st M. & c l , trust bonds have been called
ol
for payment on July 1 1918 at the office of the trusteo at par and i t
n.
Tho Birdsboro Street Ry. bonds may bo called at 105. Tho Front & Fifth
St. bonds aro red. at 105. They aro guar., p. & i , by endorsement by
.
United Traction Co. (now Reading T. & L. Co.) Tho Boyertown & Pottstown bonds aro guaranteed, prin. & int., by endorsement by United Trac
tion (now Reading T. & L. Co.). Reading & Womelsdorf bonds aro sub
ject to call at par. Adamstown & Mohnsville bonds are redeemable at 105
E A R N I N G S . — For year ending June 30:
'
O p e r a tin g
N e t (a ft e r
o th er
— P resen t I n t. C h ocs.
B a la n c e
Y ear—
R ev e n u e.
T a x e s .)
I n c o m e. P rio r Chas N o te s
S u rv lu s
1916-17— $2!,873.100 $792,882 $9,324 $450,475 $i38.000 * 2 1 3 ®
lOlo-lo__ J|<)J4(Oo L
<14iuO')
____
P r o p e r l y , <tc.— 203.12 miles track. 265 passenger and'59'service'cars'
3 power plants having 43,000 h.p. generating capacity. 310 miles oiectrJc
B M d S B . S y . a o I S 7 S . ' i0' 5 W 86"
34,372.830 In
O F F I C E R S — Pres.. E. L. West.— V. 105. p. 2543; V. 106. p.297, 1462.
(a) Reading Traction.— A trolley road.
O R G A N I Z A T I O N . — Inc. Mar. 9 1893 in Penna. to operate the Reading
City Passenger Ry. and East Reading Electric Ry., which l equipped with
t
electricity and loasod for 99 years, the former from April 1 1893, and tho
latter from M a y 1 1893. On Oct. 1 1894 leased the Reading & Temple
R A IL W A Y S
109
Electric R y . for 99 years. The Reading Traction was leased on Jan.1 1896
to the United Traction (now Reading Tract. & Light Co.) for 900 years at
a rental of $10,000 annually for f rst three years. $20,000 for next tw«
i
years, and $30,000 thereafter, and a l bond interest.
l
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
J-J
$1,000,000 J a n ’
18.75c.
Stock,$1.000.000 auth (S50). --First mtge $600,000 gold guf 1893 8 g J-J
50J,000 Jan 1 1933
Not subject to call— c*cpt\Provident Life & Trust Co., Phila.. Trustee.
I n te r e s t i payable in Reading at the Colonial Trust Co.
s
Bonds are
listed on the Philadelphia Stock Exchange. V. 88, p. 749.
D iv i d e n d s . — In 1900, 2%; in 1901. 2)4%; in 1902 and since. 3 % per ann.
L E A S E D LINES S E O U R ’
S. D a te .
In terest.
O u ts ta n d 'g . L a s t D i v . .d i e .
Reading City Passenger R y —
Stock ($350,000) (par $50).....
J-J
$350,000 See text.
East Reading Electric R y —
Stock, full paid (par $50)_______
A-O
100,000 See text.
Bonds, $25.000_______cot 1897
5 J-J
25.000 July 1 1937
Reading & Temple Electric Ry —
Stock, $75,000. guar__ c p t ___
7 A-O
73.700 See text.
1st mortgage, $75.000____ 1894
5 A-O
73.700 Oct. 1 1924
Carsonia Park Mtge 5.40% f __
A-O
12.000
(John McFadden)-------) Int. at Reading Tr. Co., Reading.
D iv id e n d s o n L e a s e d L i n e S to c k s . — The Reading City Passenger stock
received dividends, 1896 to 1899, inclusive, 10%: 1900 and thereafter 12%.
East Reading stock received dividends: 1896. $6,500; 1897 to 1900. Inclu
sive, $7,000: thereafter, $8,000. Reading & Temple Electric pays 7 %
annually in dividends. A. & O.
Bonds.— Reading Trust Co. i trustee for East Reading Elec. Ry. bonds
s
subject to call in 1927 at par. Int. on Reading & Temple bonds i payable
s
at Reading Trust Co., trustee. Coupon ($100, $500 & $1,000).
R O A D . — Leases 4834 miles of track. Gauge 5 f . 234 in. Rails, 90 lbs.
t
V. 88, p. 749.
.
(b) Schuylkill Valiev Traction.— Trolley.
The United Power & Transportation Co. owns a of the $500,000 capita
ll
stock and tho entire $100,000 income bonds.
L e a s e .— Leased for 900 years from April l 1910 to Reading Transit Co.
(succeeded by Reading Transit & Lt. Co.) Rental, $5,000 1st and 2d years,
$15,000 annually thereafter, and $1,000 annually for maintaining organiza
tion. Reading Transit & Lt. Co. also assumes a l obligations of Schuylkill
l
Valley Trac. and i s leased lines.
t
O R G A N I Z A T I O N . — Incorp. in Pennsylvania Sept. 8 1893 as the Nor
ristown Bridgeport & Conshohocken Traction Co., and on Jan. 5 1985
chartered as present company. Sinco Jan. 15 1895 has controlled and
operated the Conshohocken Ry., the Montgomery County Passenger Ry.
the Citizens’ Passenger Ry., the Collegoviile Electric Street Ry. and the
Norristown Passenger Ry. Tho corporate existence of the several com
panies I to be maintained, but their bonds will be taken up as rapidly as
s
possible.
1
J
In Jan. 1902 leased for 950 years the Roxborough Chestnut Hill & Norris
town Ry.. including that company’ leases of the Wissahlckon Electric
s
Passenger Ry. and the Trappe & Limerick Electric Ry.
ST°OK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock, $500,000’
($50)......... __
______
$500,000
First mortgage. $400,000. gf 1895 5 g F - A
245.000
Au£.'l945
($1.000)--------- c cptlInt.atWestEndTr.&S.D.Co.,Phlla.,Trustee.
mortgage. $100,000/ 1899
5 ann.
100.000 Aug. 1 1949
($•>00) . . . . . . . . . . --- cpt)WestEndTr.&SDCO.,Philadelphia, Trustee.
Of the $500,000 first mortgage dated 1895, $100,000 has been retired and
destroyed, $75,000 has been reserved to take up like amount of the Norris
town Passenger Ry. bonds and $80,000 to retire the Citizens’Passenger Ry.
bonds.
The securities or the subsidiary companies are as follows, including both
those held by the public and by the parent company.
C O M P A N Y , Ac.—
M ile s .
In terest.
Issu ed .
M a tu r ity .
Citizens Pass Ry stock ($50) - 6)4
________
$79,400
5 g F-A
80,000 Feb." l 1925
”
1st mtge ($500) $80,000 gold/--guaranteed--------- cpt( Subject to call at 105 on any interest date.
„
„
(Int. at Norris’ Title. Tr. &S.D..CO., Trus.
n
Conshohocken R y stock ($50) - 534
___
145 900
1st M guar, prin & intf--5 g J-J
100,000 Juiy"Ti§24
$250,000..---- — cpt)Subj. to call at 105. Norristown Tr. Co.,
Montgomery Co Pass R y stock l A
________
150,000
1st mtge $150,000— cpt/ 134 6 J-J
15,000
1923
„
,
„
lint, at Albertson Tr. & S. D. Co., Trustee.
Norristown Pass R y stk ($50). 4 A
_______
75,000
First mortgage------ cpt/ 4 X
6 J-J
75,000
I923-"
D ,
_u _
^
, lint, at Albertson Tr. & S. D. Co., Trustee.
B o n d s .— 'The Conshohocken Ry. bonds ($100,000) and the Montgomery
Oouuty Passenger Ry. Issue ($15,000) are held by the Schuykill Valley
Traction Co.
R O A D . — Operates 72 miles of track, including lines of above-men
tioned companies, and also Roxborough Chestnut Hill & Norristown.
Gauge 5 f . 2)4 in. Rails 60 and 100-lb. T and girder. 97 cars. V.70,p.281.
t
( а ) Roxborough Chestnut Hill & Norristown Ry.— A trolley road.
Tho United Power & Transportation Co. owns 4.959 out of the 4,968
shares of the capital stock. In Jan. 1902 was leased for 950 years to the
Schuylkill Valley Traction at a rental of $4 60 per share, payable semi-ann.
O R G A N i Z A T W N . - I n c o r p . Dec. 2 1895 in Penna. In 1898 leased the
Wissahlckon Electric, 3 34 miles, for 950 years; rental to be 2 % on the
$145,842 stock for the f r t two years, 3 % for the next six years, 4 % for
is
the next soven years and 5 % for the rest of the term. Also owns the
$250,000 stock of the Trappe & Limerick Electric Street Ry. and leases that
company for 950 years. Comprises 22 miles of track. In June 1896 filed a
mortgage for $450,000 to the Real Estate Title Insurance & Trust Co..
Philadelphia, securing 5 % gold bonds ($1,000) J. & D. (cpt), due Juno 1
1926. Issue reduced to $396,000, of which $371,000 was outstanding on
M a y 1 1918. Capital stock auth., $450,000; issued, $248,400; par, $50.
Trappe & Limerick Elec. St. Ry. 5 % gold stock certfs. due July 1 1931:
Int. ( & J.) at Real Estate Titlo Ins. & Trust Co., Trusteo. Auth., $250 J.
000, and outstanding, $249,000. Secured by deposit of $249,000 stock of
the Trappe & Limerick Street Ry.
R O A D . — Total track, 20)4 miles; gauge, 5 f . 2)4 i . r i s 70 to 90-Ib.
t
n; al,
girder.— V. 62, p. 1042.
( ) Trappe & Limerick Electric Street Ry.
б
O R G A N I Z A T I O N . — Incorporated In Pennsylvania on July 25 1899.
Was leased on Dec. 31 1901 to Roxborough Chestnut Hill & Norristown Ry.
for 950 years at a rental equal to 6 % per annum on capital stock. Interest on
bonds, taxes and $100 maintenance expenses.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
$250,000
Sbetext.
Stock $260,000 ($50)........ ............
mortgage $250,000 g/ 1901
434 g J-J
250.000 July 1 1931
($1,000) ...... ... c*cpt(lnt.at RealEstateTItleIns.&Tr.Oo.,Phll.Tr.
B o n d s . — Are guar., p. & I by Roxborough Chestnut Hill & Norristown.
.
R O A D . — Length or line 13.35 miles.
( Lebanon Valley Street Railway.— A trolley road.
c)
Lease.— Leased to Reading Transit & Lt. Co. for 900 years from April 1
1910. Annual rental or $40,000 and yearly payment of $500 for organiza
tion, as well ns taxes and Interest on bonds.
O R G A N I Z A T I O N . — Incorporated on June 28 1899 as a consolidation of
the Lebanon & Annsvllle Street Ry. and the Lebanon & Myerstown Street
Ry. The United Power & Transportation Co. owns a l the 10,000 shares
l
of the capital stock.
S T O C K A N D BONDSD a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $500,000—(par $50).
.
----------- ---- ---— — _
$500,000
See text.
First mortgage 10-30s gold/ 1899
5 g J-J
500.000 July 1 1929
($100 $500 & $l,000)c.cptilnt. at Real Est. T. Ins. & Tr. Co., Phils Tr
„„RO/VD ’
,7'°wns 22- mf,e8 of t r a c k . Gauge 5ft. 2)4 in. Rails 50, 75.
08
90 & 100-lb. girder. 23 cars.
(d) The Metropolitan Edison Co.
Reading Transit & Light Co. owns a l the common stock.
l
O R G A N i Z A T I Q N . — Incorp. in Penna. in Aug. 1917 as a consolidation
of the Metropolitan Elec. Co. (Reading). Edison Elec. 111. Co. (Lebanon)
and Lebanon Valley Elec. Light Co. Furnishes electric light and power
in Reading, Lebanon and adjacent territory. Controls through stock owner
ship tho Pennsylvania Utilities Co. or Easton, which supplies electric light
and power and gas in Easton, Pa.. Philiipsburg, N. J., and Nazareth and
8troudsburg, Pa.
F r a n c h is e s aro practically a l unlimited as to time.
l
R a te I n c r e a s e s . — In Dec. 1917 filed supplementary rate schedules with the
Penn. P. S. Comm., effective Jan. 1 1918. providing for an increase of
110
1 5 % In a l classes of service except house lighting, for increases to power
l
customers only, to be regulated by the prevailing prices of coal. This will
advance the price of current automatically with increases In the cost of
coal over $3 50 per ton delivered.
In April 1918 applied to the Penn. P. S. C o mm, for auth. to issue $525,000
bonds for extensions and improvements.
STOCK A N D BONDS—
D a te .
In terest.
M a tu r ity .
O u ts ta n d in g .
__ _
C o m m o n stock $3,000,000___ ____
$3,000,000 ........
Pref 6 % cum $2,000,000.... ....
...... . See text
________
Met Elec 1st M (closed) g\ 1909
5 g A-O
E
2.698.000 April . i ,
1 1939
($500 & $1,000)___ c*cpt/Glrard Trust Co., Philadelphia, Trustee.
1st & Ref M $10,000,000 gl 1917 5 g F-A
3.649,500 Aug 1 1922
($100, $500 & $1,000)— c*rGuaranty Trust Co., N. Y., Trustee.
0ne-year notes $1,500,0001 1917 6 F-A
950.000 Aug 1 1918
($1,000)------------ c*/Int. at Fidelity Trust Co., Phila., Trustee.
S to c k . — $1,150,000 pref. stock has been deposited with the trustee for
the notes for the conversion of such notes on the basis of $1,000 notes for
$1,100 stock. Upon the issuance of additional notes a further amount of
stock i to bo deposited in the same ratio. Pref. stock i redeemable as
s
s
a whole at 105 and interest.
B o n d s . — Of the remaining 1st & Ref. bonds, $2,726,000 are reserved to
retire underlying bonds and $3,624,500 are for 8 0 % of cost of future
add'ns, ext’ and Imp’ under special restrictions. Red., a l or part, on
ns
ts
l
30 days’ notice at 102 and int. on or before Aug. 1 1921 and 101 and i t
n.
thereafter. A maintenance and depreciation fund i provided equal to
s
10% of gross earnings, less the amount actually paid during the year for
repairs and renewals. The co. will pay the Pa. State tax. V. 105, p. 1214.
The Motrop. Elec, bonds are subject to call as a whole at 110 and int. S in k
in g f u n d o t 1 % of bonds out operative from 1914-1919; 1 H % from 1919-1928;
2 % from 1928-1938. $108,500 retired. Bonds are guaranteed, p. & 1 , by
.
United Tract. Co. (now Read. T. L. Co.). Int. payable at the Girard Trust
Co., Phila. The notes are convertible Into 6 % cum. pref. stock on the
basis of $1,000 notes for $1,100 stock. The co. will pay the Pa. State tax.
The notes are callable as a whole, but not in part, on 30 days’ notice at
100y i and interest.
E A R N I N G S . — Of constituent properties (not Inc . Ponna. Utilities Co.):
i
C a le n d a r Y e a r s —
1917.
1916.
1915.
1914.
1912.
Gross oper. revenue..$1,502,633 $1,342,226 $928,587 $837,457 $678,393
Net, aft. taxes & rents. 573,944
532,088 429,745 408,239 348,233
P R O P E R T Y . — 26,000 k.w. steam station at West Reading and a 4,200
k.w.steam station at Lebanon as a substation and reserve plant. A 33,000
volt transmission lino between the two stations was completed early in 1918.
A 25,000 k.w. unit and boiler equipment i being installed.— V. 105, p.
s
1214, 1313, 1424, 2369, 2460; V. 106, p. 195, 1465.
(*) West Virginia Traction & Electric Co.
Eastern Power & Light Corp. owns a l of outstanding common stock.
l
O R G A N I Z A T I O N . — Incorp. In West Virginia on July 11 1912 and ac
quired the City Sc Elm Grove RR. (Wheeling) and the Union Utilities Co.
(Morgantown). V. 95, p. 177. The City & Elm Grove RR. owned control
of the City Ry. Co., the Wheeling & Elm Grove Ry., the Wheeling Park
Assn, and the Suburban Light & Water Co. Controls City Sc Suburban
Gas Co. of Wheeling, which was incorp. in Dec. 1912 (auth. capital,
$150,000), and took over the Virginia Oil & Gas Co. Owns and operates
electric light, power and water supply systems In Elm Grove and neighbor
ing towns; an electric railway from Wheeling through Elm Qrove connecting
adjacent suburban towns; electric light, power, gas and water systems in
Morgantown, W. Va. Serves 29 communities with railway and electric
service, 26 with water and 25 with natural gas. Owns a 33-acre park.
Holds under loaso over 20,000 acres of natural gas fields, about one-quarter
developed, with extonsive systems of gas wells and distribution equipment.
Also has 1,600 acres of gas and o l lands under development. F r a n c h is e s :
i
One expires 1927; othors oxtend beyond 1942 or are perpetual.
r - On M a y 1 1918 was auth. by P. S. C o mm, to Increase fares on tho Elm
Grove line 2 0 % and to discontinue monthly commutation and school rates.
In 1917 the W . Va. P. S. Comm. auth. the co. to increaso i s rates to
t
industrial consumers of gas in Wheeling and i s suburbs, effective Oct. I
t
1917. V. 105, p. 1899.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
C o m m o n $2,000,000 ($100).......
$1,250,000
Pref$2,000,000 7 % cum ($100)___
„ ---619.600 See text.
Secured notes gold$2,000,000 1917
6 g M-N
1,800,000 M a y 1 1919
($1,000, $500 Sc $1001--->•* Int. at N e w York Trust Co., N. Y., Trust.
Gen & Ref M $15,000,000 1917 5 g M - N
See text M a y 1 1942
($100,$500&$l,000)g.c*tf N e w York Trust Co., Trustee.
City & Suburban Gas 1st M
1912 6 g M - N
600,000 N o v i 1932
$1,000,000 ($1,000)— c*tf Int. at Equitablo Trust Co., N. Y., Trustee.
City & Elm Grove cons c l 1906 5 g J-J
ol
1,119,000 July 1 1936
tr M $2,500,000 g ($1,000) Int. at Union Trust Co., Pittsburgh, trustee.
Wheeling & Elm Grove fir t 1898 5 M-S
s
160,500 M a r 1 1928
mortgage $225,000 ($500). S in k in g f u n d retires $5,000 annually.
Wheeling&Elm Grove M (see 1901
5 A-O
794,500 April 1 1931
text) ($1,000 & $100) g— c* Int. pay. at Dollar Savs. & Tr. Co., Trustee.
Un. Util. 1st mtge $1,500, 1909 5 g J-J
1.183,000 July 1 1944
000 gold ($1,000)--. c*cpt Int. at Farmers’L. & Tr. Co., N. Y.. trustee.
.
. .
.
B o n d s . Notes are callable at 100K and i
—
nt. Additional notes may bo
sold only when net Income i 2)4 times annual interest charges on notes
s
outstanding and to bo issued. N o additional bonds m a y be issued by tho
co. or i s subsidiaries during the l f of these notes except for tho acquisition
t
ie
of property. Interest payable wtihout deduction for Federal income tax
not In excess of 2%. Pennsylvania State tax refunded. Notes are secured
by pledge of $2,500,000 gen. and r f mtge. bonds. $3,049,000 of tho bonds
e.
are reserved to retiro underlying bonds, $94,000 aro pledged as c l , for
ol
loans, and the remainder may be issued to acquiro 1st M. bonds of other
cos. under specific restrictions or for extensions and improvements at
80% of cost under certain restrictions. A renewal, impt. and redemp.
fund of 1 % per ann. of bonds out begins Oct. 1 1918. Call, or a l part
l
at 101 and int. on any int. date on 4 weeks’ notice. Tho City & Sub
urban Gas Co. bonds aro guar., p. & I , by the West Virginia Trac
.
tion & Electric Co. They are redeemable, as a whole or part, on any
Interest date at 105 and I t ; cumulative sinking fund of 2 % on outstanding
n.
bonds began In 1916. Of the City Sc Elm Grove cons, collateral trust
bonds, $1,000,000 are reserved to retire prior liens. Aro subj. to call on any
Int. date at 105 and Int. V. 83, p. 491. The auth. amount of Wheeling &
Elm Grove Ry. mtge. was originally $1,250,000, but was reduced In Feb.
1906 to $1,000,000. V. 83. p. 379, 491. 625. Of Union Utilities 1st mtge.
bonds. $10,000 are in the treasury, $196,000 aro kept alive in sinklug fund
and $111,000 are reserved for impts. & exten. at 7 5 % of cost. Red.
at 105 and int. on any Int. day on 30 days’notice. Sinking fund 1% semi
ann. of bonds out. After setting aside 1% s.-a. and payment of 7 % on profand 10% on com.,s.f.shares equally with any furthor div. on com. V . 90.
p. 373.
D iv i d e n d s . — 7 % per annum has been paid on prof, stock since organiz'n.
E A R N I N G S . — For years end. Dec. 31 ( ncl. affiliated cos.):
i
C a le n d a r
Y ear—
[Vol. 106.
E L E C T R IC R A IL W A Y S
G ro s s
E a r n in g s .
N e t (a f t e r
T a x es).
O th er
In com e.
In terest,
R e n ta ls , A c .
B a la n c e .
S u r p lu s .
OFFICERS.— Pres., J. B. Taylor; V.-P., L. I . Tyng; Sec., O. N.
I
Wilson; Treas., J. P. Campbell. V. 96, p. 1020; V. 105, p. 2271; V.
106, p. 1126.
( ) Claremont Power Co.— Controlled by Eastern Power & Lt. Corp.
4
Furnishes electric light and power in Claremont, N. I . Application to
I
issue stock and bonds now pending before P. S. Co m m , of N e w Hampshire.
( Colonial Power & Light Co.— Controlled by Eastern Pow.& Lt.Oo.
5)
O R G A N I Z A T I O N . — Incorp. in Springfield, Vt., Owns and oporates
electric light and power properties in Cavendish, Manchester and Spring
f eld, Vt. Hydro-electric power station has 1,500 k. w.
i
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
Stock $1,000,000 ($100)...................
$260,500 ..... ...
First mtge. Red. at 105 & I t 7 1913
n.
5 g M-S
283,000 Mar 1 1943
on 3 weeks’notice_______(Int. at Equitable Trust Co., N. Y., trustee.
S in k in g f u n d of 1 % per annum began Mar. 1 1918.
RICHMOND, VA.
VIRGINIA RA ILW AY & POWER CO.
O R G A N I Z A T I O N . — Incorp. in Virginia on July 1 1909, and I successor
s
to the Virginia Passenger & Power Co. sold at foreclosure M a y 5 1909. V.
89. p. 44, 105. The reorganization was under plan given In V. 87, p. 347.
On July 1 1911 took over by consolidation the Norfolk & Portsmouth
Trac. Co. (into which was merged the Norfolk Sc Atlantic Terminal Co. on
June 30 1911), and Increased i s stock to $12,000,000 com. and $8,000,000
t
pref.; $150 Virginia Ry. & Power com. was exchanged for each $100 Norf. &
Portsm. com.; the pref. was exchanged share for share. V. 03, p. 106.
For history of Norfolk Sc Portsmouth Traction organization see ‘Electric
‘
Railway Section” of June 1911, p. 84.
Through acquisition of Norf. & Portsm. Trac., the Virginia Ry. Sc Power
Co. acquired the lease of the Norfolk Ry. Sc Light Co. for 99 years from
June 1 1906 and the ontlre $100,000 capital stock and ($1,000,000) bonds
of the Norfolk & Ocean View Ry. Co. (dissolved Apr. 6 1917).
On June 29 1912 sold to Richmond & Rappahannock Ry. the “Seven
Pinee Line” of railway, 29th and P Sts., Richmond, to Seven Pinas, nenrico
County, 8.88 miles, for cash consideration of $25,000. V. 95, p. 1397.
On July 20 1916 the shareholders ratified the merger of the Richmond
Ry. & Viaduct Co. ( l of whose stock was owned), and auth. an increase
al
in pref. stock from $8,000,000 to $9,000,000 in connection therewith. The
now stock I held in company's treasury. V. 103, p. 407.
s
Owns or controls through lease practically tho entire street railway, elec
tric light and power business in Richmond, Petersburg, Norfolk ( l except
al
line to Virginia Beach), Portsmouth and Berkeley; an Interurban railway
connecting Richmond and Petersburg; a linefrom Norfolk to Sewell’ Point,
s
where connection is made by ferry to Newport News and Old Point C o m
fort; electric light business of Suffolk, Va.; the City Gas Co., with unllmitod franchises.
F r a n c h is e s . The Manchester Sc Petersburg Ry. franchises are perpetual.
—
Tho principal railway franchises in Richmond expire in 1926 ana 1931.
The interurban railway franchise expires in 1981. The water power rights
In Richmond and Petersburg are perpetual. These rights are only partly
utilized and are capable of a large further development. The more im
portant rights for lighting in Richmond expire in 1927 and 1928 and in M a n
chester In 1931. The Petersburg lighting franchises are prepotual. V. 89,
p. 529. F r a n c h is e s for street railways in Portsmouth expire In 1926, 1927
and 1932. Street railway f r a n c h is e s in Norfolk expire in 1944. In 1916
the City of Suffolk granted a new 30-year franchise to do a light and power
business and made a 10-year contract for municipal light and power service
with certain rights of renewals. Negotiations are in progress with the cities
of Richmond and Norfolk for the entire revision of tho railway and light
and power franchises.
In Jan. 1913 Virginia Supreme Court hold company liable for the cost
of paving between and two feet outside the tracks.
On Dec. 29 1917 the stockholders approved tho Issuance of $950,000 6 %
collateral trust notes to pay for capital expenditures, particularly a hlgkvoltage transmission line from Petersburg to Suffolk.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
A-O $11,950,500 Soo text
C o m m o n $12,000,000 ($100)......
Preferred $9,000,000 ($100)......
J-J
7,999,400 Jan.’
18.3%
First and refunding mortgage/ 1909
5 g J-J
11,949,000 July 1 1934
$15,000,000 g ($1,000)-_c*\Int. jat Equitable Tr. Co^. N. Y., trusteo.
Richmond Railway & Elec 1890
5
17,000 July 1 1920
tric first mortgage______ Metropolitan Trust Co., N e w York, trustee.
Norfolk Sc Portsm 1st mtge 1906
5 g J-D
6,414.000 June 1 1936
$8,000,000 ($1,000) gold -- Int. at Baltimore Trust Sc Guar. Co., trustee.
Norfolk Sc Atlantic Term 1st 1899
5 g M-S
500.000 Mar 1 1929
_
iInterest at Alex. Brown Sc Sons. Baltimore.
mtge $500,000 _
gold
Collateral trust notes $950,-\ 1918
6 J-J
950,000
Seo text
000 ($500 & $l,000)-.c.ntf/lnt. at Va. Tr. Co., Richmond, Va.. Trustee
S to c k . — The pref. stock was entitled to non-cum. dlvs. of 5% up to Jan. 1
1914 and thereafter to non-cum. dlvs. up to 6%. Both com. and pref. aro
listed on the N e w York, Philadelphia and Baltimore Stock Exchanges. V.
92.p. 882.1033,1111,1375: V.93.p.230. See official statement to N. Y.
Stock Exchango. V. 92, p. 1118.
B o n d s . — $68,000 of the f r t and ref. bonds are rosorved to retire $32,000
is
Richmond Ry. Sc Electric f r t mortgage (of which $15,000 are In treasury),
is
together with $36,000 Richmond Sc Allegheny RR. bonds which matured
Aug. 1 1911 and are held in treasury pending release of mortgage and ex
change for Virginia Ry.& Pow. Co. bonds. $590,000 are In treasury, and
remaining $2,057,000 reserved for future Improvements, subject to certain
restrictions. Sinking fund. \ i % semi-annually of bonds out from 1914 to
1919 and H % semi-annually thereafter; $336,000. not Included in amount
reported outstanding, held In sinking fund M a y 1 1918. Bonds are subject
to call at 105 & int. V.92.p. 1212. Listed on N. Y., Phila. and Baltimore
Stock Exchanges. V.94.p.l25: V. 96, p. 1426; V. 100. p.557. Unissued
Norfolk Sc Portsmouth 1st M. bonds o t 1900 may be issued for acquisitions,
extensions and Improvements, but not over $500,000 in any one year.
A s in k in g f u n d o t >4% per annum of outstanding bonds began
June 1 1916. which i to be Invested in the bonds; $82,000, not Inc . in amt.
s
l
reported outstanding, held in sink, fund Dec. 31 1917. Aro subj. to call at
110 and int. on any int. date upon 60 days’ notice. Bouds aro listed on
Phila., Boston, Balt, and Plttsb. Stock Exchanges. V. 83, p. 492.
N o t e s . — The c l . t . notes mature as follows: $100,000 somi-annually
ol r
from Jan. 5 1919 to Jan. 5 1921 In l , $200,000 July 5 1921. and $250,000
c.
Jan. 5 1922. Are subject to call a l or In part at 102 and int. on any int.
l
date on 30 days' notice.
D iv id e n d s . — On pref.. f r t div.— 1)4%— paid July 1 1910. In 1911.
is
1912 and 1913. 5%. In 1914, 5)4%. In 1915 and since, 6 % per annum.
On com., f r t div.— 1 % — paid Oct. 1911 In 1912. 2%. lu 1913 to 1917.
is
i c . 3%; Apr., 1918, div. omitted (V. 106, p. 1127.)
nl,
R E P O R T . — Of combined properties (1917 report In V. 105, p. 1894):
Y e a r s e n d . J u n e 30—
1916-17.
1915-16.
1914-15.
1913-14.
Fare passengers...... 69,807,331 67,226.456 62,271,603 66.695,197
Free passengers______
714,733
699,156
771,537
923,137
Transfers........... 17,151,090 16,281,570 13,934,578 14,752,959
1917...... $1,050,951
$464,830
$12,369
$354,676
$122,523
1916--....
979,655
480,130
9,189
334,1)08
155.311
1915________ 898,595
438.756
8,515
325,252
122!oi9
P R O P E R T Y . 2 electric power plants aggregating 6,000 h. p. capacity;
—
2 water pumping stations; 2 gas pumping stations; 143 gas wells; 152 miles
Total passengers____ 87,673.154 84,207,182 76,977,718 81,371,293
of electric lines; 179 miles of gas ptpo lines; 74 miles of water pipe lines: K. w. hrs. output, com’ 95.068,363 75,409,277 58.044,703 52,091,214
l
45 miles of urban and suburban railways, largely on private right-of-way. Gas sold, cubic feet___ 426,911.700 394,961,300 401,026,000 392,351,700
Standard gauge. 91 cars.
Gross earnings........$6,044,495 $5,645,158 $5,109,622 $5,156,048
2,676,179 2,469,074 2,465,908
OFFICERS.— Pres., W . S. Barstow; Gen. Mgr., H. D. Whittemore; Operating expenses___ 2,941,293
Treas., A. P. Taliaferro; Sec. Sc Asst. Treas., C. N. Wilson.— V. 104 n
Net earnings........$3,103,202 $2,968,979 $2,640,548 $2,690,140
1704, 1802; V. 105, p. 608, 1899; V. 106, p. 1037.
98,391
96,610
80,919
80,910
(3)
Claremont Railway & Lighting Co.— Controlled by EasternOther income........
Power & Light Corporation.
Net income........$3,201,593 $3,065,589 $2,721,467 $2,771,050
O R G A N I Z A T I O N . — Organized In 1901 and absorbed the Claremont
Elec. Ltg. Co.; does a passenger and freight trolley business between Clare
mont Junction on tho Connecticut Valley Division of tho Boston & Maine
and Claremont Lino i about 6 miles long.
s
Surplus _ .
F a r e s . In Dec. 1917 the N. H. P. S. Comm. auth. the co. to discontinue
—
Direct charges to P. Sc L.
the sale of 4 and 5-cent tickets.
Depreciation reserve__
R a te I n c r e a s e . In Mar. 1918 was auth. by tho N. I . I . S. C o m m to
—
I >
Increase freight rates by 20%. N e w schedule became opeartivo imme
Bal. to profit Sc loss., def.2,650sur.$322,883 sur.$91,269sur.$189,956
diately ponding further Investigation. V. 106, p. 1126.
* 6 % of gross earnings.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Capital stock $160,000--------------$ 160,000
L a te s t E a r n in g s . For 10 months onding April 30:
—
Bonds $1,000.000..............
6%
150!000 .........
10 M o s .
— G ro s s .
N et.
O lh . I n c .
I n t . , T a x ., A c .
B a l.,S u r .
E A R N I N G S . — For the year endiflg Dec. 31 .1917, gross, $54,581: net, 1918___ $6,098,987 $2,779,474
$100,708
$1,597,868 $1,282,313
aftor taxes, $6,889. In 1916, gross, $53,984; net, after taxes, $7,749.
1917___ 5,003.468 2.588.432
79,170
1,512,314
1,155,288
Ma y , 1918.]
111
E L E C T R IC R A IL W A Y S
R O A D , &c.— Tho company oper's 257.448 m. of single track; 508 passen
ger and 40 norvice cars. Also owns valuable park properties and other real
estate. Ralls, 95, 109-lb. girder and 60, 70 and 80-lb. T. 6 power stations
and 10 sub-stations, combined capacity, 73,700 k. w. A transmission lino
between Petersburg and Norfolk, costing about $750,000, I contemplated.
s
OFFICERS.— Pres., Thomas S. Wheelwright, Richmond; Vice-Presi
dents, Fritz Sltterdlng; V.-P. & Gen. Mgr., O. B. Buchanan of Richmond;
V.-P. & Gen. Counsel, E. Randolph Williams, Richmond; Sec. & Treas.,
Goo. B. Williams, Richmond; Asst. Sec. & Asst. Treas., Geo. H. Taylor,
N e w York: Gen. Aud. & Asst. Treas., W . J. Kohl; Asst. Gen. Aud., A. E.
Dickson. General office. Richmond, Va. N. Y. office, 149 Broadway.
— V. 105, p. 999, 1894. 2186, 2273; V. 106, p. 191, 500, 1127.
(1) N orfolk Railway & Light.
L e a s e . — Was leased on June 1 1906 to Norfolk & Portsmouth Traction Co.
(since consolidated with Virginia Ity. & Powor Co.) for 99 yoars, rental
being (In addition to a l rixcd chargos). $16,500 each June 1 and Dec. 1
l
from Juno 1 1906 to Juno 1 1907, inclusive, and Increasing to $49,500 s.-a.
on Dec. 1 1912 and thereafter. V. 82, p. 1323.
O R G A N I Z A T I O N . — Incorp. In Va. Nov. 2 1899 as a consolidation of tho
following; Norfolk Street RR., Norfolk & Ocean View Ry., Virginia Elec.
Co. and Berkeley Light & Power Co. Owns entire stock of tho Norfolk
Light, Heat & Power Co. Street railway fr a n c h is e s expire In 1914, except
a small portion of mileage in Norfolk, which expires in 1934. Electric
light f r a n c h is e expires in 1930. The company controls tho street railway,
electric lightlngand power business of tho city of Norfolk and owns a lino
of railway to Willoughby Spit and connects with steamer to Old Point
Comfort; also owns 4,011 shares out of 5,000 shares of the stock of the
City Gas Co. of Norfolk, remaining shares, 989, owned by Virginia Ry.
& Pow. Co. On Aug. 30 1904 the City Gas Co. purchased the Berkeloy
Gas Co. V. 79. p. 968. Stock I listed on Philadelphia Stock Exchange.
s
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $1,650,000 ($25).......
6
J-D
$1,650,000 D e c ’
17,3%
Virginia Electric Co. 1st mtge ( 1898 5 A-O
10,000 April 1 1928
$500,000 gold ($1,000)___ lint, at U. S. Mtge. & Tr. Co., N. Y., trustee.
Norfolk Street 1st cons mtgof 1898 5 g J-J
1,040,000 Jan 1 1944
$1,040,000 gold ($l,000).c\lnt. at Merc. Tr. & Dop. Co., Balt., trustee.
Norfolk Ry & Lt 1st cons intg f 1899
5 g M-N
2,950,000 Nov 1 1949
$4,000,000 g ($1,000) s f.c*\Int. at Internat. Tr. Co., Baltimore, trustee.
City Gas Co first mortgage..]___
6 J-D
500,000 June
1926
1U. S. Mortgage & Trust Co., N. Y., trustee.
B o n d s . — Of tho Norfolk Ry. & Light first consol, mtge. $1,050,000 i re
s
served to retire underlying bonds. S in k in g f u n d began Nov. 1 1909, and
provides for tho purchase of 1 % of outstanding bonds each year at 110 or
l
ess. See V. 70, p. 584. $325,000 of bonds reported outstanding held In
Sinking fund M a y 1 1918. $135,000 Norfolk Street RR. bonds wore also
in sinking fund as of M a y 1 1918.
OFFICERS.— Pres., Thomas S. Wheelwright; V.-Ps., Walter I . Taylor
I
and F. Sittordlng; Sec. & Treas., W. J. Kohl.— V.82, p.1323; V.106, p.925.
ROCHESTER, N. Y.
N E W Y O R K S T A T E R A I L W A Y S . — (See M a p on page 112).— Of the
com. stock, $13,604,300 (also $600 pref.) owned by N. Y. Central RR.
O R G A N I Z A T I O N . — Incorporated In N o w York on March 22 1909 as a
consolidation of tho Rochester Ry. Co., tho Rochester & Sodus Bay Ry. Co.
and the Roch. & Eastorn Rapid Ry. Co. (as per plan V. 88,p. 53, 823, 945.)
and on Oct. 14 1912 tho P. 8 .C o m m , approved the further morger with the
Utica & Moha w k Valloy Ry., Onolda Ry.. Syracuse Rapid Transit Ry. and
Rochester & Suburban Ry., a l of whose stocks had already been owned.
l
STOCK A N D BONDS—
Utica Belt 1st mtge $500,000
D a le .
In terest.
O u ts ta n d in g .
M a t u r it y .
1889
5 M-N
$500,000 Nov 1 1939
Interest at N. Y. Trust Co., N. Y., trustee.
39,000 Jan 1 1931
Utica Belt 2d mtge $200,000 1891 6 J-J
gold ($500)........... cl Interest at N. Y. Trust Co., N. Y., trustee.
Hork M o Ilion & Frankfort 1895
5 g J-J
150,000 Jan 1 1926
mtge g *150.000 ($1.000)c*\ Int. at Farmers’Loan & Tr. Co., N.Y., trus.
5 g M-S
2,500,000 Mar 1 1946
Syrac R T 1st M ($3,250,000) 1896
gold ($1 ,
000)........ c* Guaranty Trust Co., N e w York, trustee.
654,000 Jan 1 1930
do 2d mtgo $750.000 ($1. 1900 5 g J-J
000) gold___________ c* Int. at Citizens Sav.& Tr.Go.,Clev., trustee.
People’ R R f rst mortgago 1891 5 J-J
s
i
750,000 Jan 1 1921
gold ($750.000)........ Interest at Merchants’Nat. Bank, Syracuse.
East Side Traction 1st M
1899
5 J-D
250.000 June 1 1929
$250,000 ($1,000) gold.. Int. at Citizens Sav.& Tr. Co., Clev., trustee
Real estate mortgages______ ............
36.000 .........
O n ta rio L ig h t & T r a c tio n C o .
—
zOntarlo Lt & Trac lstmtgef 1901
3H M-N
4,000 M a y 1 1927
$10,000 ($500)________ cla R. O. Lefflngwell, trustee.
zGanandaigua ElLt& 11R 1st I 1897
3 M J-J
150,000 July 1 1927
mtge $150,000 ($500)___ c\& Int. at Citizens Cent. Nat. Bk., N. Y.City.
zOanandaigua EILt & R R 1st) 1897
6 J-J
35,000 July 1 1927
mtge $50,000 ($500)___ c\b Int. at Citizens Cent. Nat. Bk., N.Y.City.
a Interest I payable to the M ohawk Valley Co. only.
s
b Rochester Trust & 8afe Deposit Co.. Rochester, N. Y., trustee,
z Under merger plan In 1917 these bonds were assumed by the Rochester
Ry. & Lt. Co.
S to ck . — Preferred stock can be Increased only with consent of two
thirds of outstanding preferred stock, and holders are to have right to take
their proportionate shares of such Incroase. Stock I s u b je c t to c a ll at 110
s
upon any dlv. day on 30 days’ notice. V. 88. p. 945. Both stocks are
ystod on N. Y. Stock Exch. See official statement. V. 92, p. 951.
B o n d s . — Of the first consol, bonds, $13,486,000 are resorved to retire
underlying bonds. The remaining bonds may be Issued for equip., lmpts..
&c., to the extent of 90% of the cost, and for acquisitions at actual costs,
provided In each case that the annual not income ( n l net lnc. on securities
ic.
ownod) shall be 1 H times the annual Int. charge on a l bonds, i c . underly
i
nl
ing bonds thon outstanding and any add’ 1st consols, desired to be issued.
l
Sor. A. bonds aro rod. at 105 & Int. on 60 days’notice. V. 95, p. 1208; are
listed on N Y. Stock Exch; exempt from State, county and municipal taxes.
Rochester Ry. 2d M . bonds cannot be called.
Syracuse Rap. Tran. 2d M . bonds aro subject to call on any Interest date.
D iv i d e n d s . — 1}£% on prof, paid July 1909 and quar. since to an Incl.
Apr. 1918. On com., 1 H % quar. from July 1910 to July 1914; Oct. 1914J
1%. (V. 99. p. 894.) In 1915, 4%; in 1916 4J*%; in 1917, Jan., 1%;
Apr., 1%; July, 1%. None since.
R E P O R T . — Combined statement for years end. Dec. 31 (after allowing
for Inter-company charges)— 1917 report in V. 106, p. 1680:
1917.
1916.
1917.
1916.
S
$
$
Gross oarnlngs..8,460,002 8,256,470 Schenec.Ry.sur.,
Exps.& deproc’
n.5,758,999 5.153,199 N.Y.S.Rys.pro
35,705
17,035
Taxes......
548,091
509,962 portion, 50%-Ont.L.& Tr.Co.
Not earnings.2,152,912 2,593,309 sur.,N.Y.S.Rys.
8,089
1,516
portion, 10 0 % Non-op.rov.(not) 110,664 146,214
Tot.net income. 862,209 1,386,872
Deduct—
Gross incomc-2,263,576 2,739,523
Pref. divs. (5%). 193,125 193,125
Deduct interest
and rents___ 1,438,588 1,377,775 Com. divs. ..(2)398,940(4^)947,482
g o ld ( $ 1 . 0 0 0 ) .................................
V Tho ^Rochester Railway was a consolidation of the Rochester City &
Net income.. 824,988 1,361,748 Balance,surplus. 270.144 246,265
Brighton RR., tho Cross-Town RR. and tho South Park RR., and leased
tho Rochostor Eloctrlc Ry. from July 1 1894 for 50 yoars, at a rental of 8 %
R O A D . — On Dec. 31 1917, operated 338.18 miles of railway, of which
on $200,000 stock, and whenever gross receipts exceed $55,000, ono-quartor 270.54 miles owned and 67.64 miles leased. Miles main single track, 558.84
of such excoss
(of which 416.57milos owned and 142.27 leased); sidings, 26.15 miles; total
On March 10 1910 Pub. Sor. Co m m , authorized an Increase In stock from track mileage, 581.99. Miles of railway ownod, leased and operated by
$23,140,200 to $23,860,200 to be used to take over the Rochester & Subur subsld. cos.,i n a d d itio n to mileage operated directly by N. Y. State Rys.:
ban Ry. (stock $420,000), the Rochester Electric Ry. (stock $200,000) and
O w n e d . L e a s e d . O p e r a te d .
the Ontario Light & Traction Co. (stock $100,000), which controls the
. 4.69
Canandaigua Gas Light Co. See V. 90, p. 914, 1425. In Jan. 1912 ap
. 2.53
plied to Public Sorvlco Comm., 2d Dist., for authority to Increase stock to
.59.78
9.58
69.38
$24,362,600. V. 94, p. 68. Permission was not granted.
. 6.44
—
—
Tho following I a l s of the stocks owned by tho N. Y. State Railways;
s it
9.58
69.36
.73.44
of whole amount
8chonoctady Railway C o ------ $2,050,000 <
50%
East Side Traction C o -------300,000
100%
a Leased to N. Y. State Rys. b N Y. State Rys. owns a half Interest.
Syracuse Land & Steamboat Co._
'
100%
10,000
Has 944 passenger, 20 express and 134 other cars (including 2 electric
Syracuse & Valloy Land C o ....
100%
4,450
locomotives) and 40 snow plows; total, 1,138.
Glon Haven Improvement C o __
100.00%
14,500
OFFICERS.— Pres., Horace E. Andrews, N. Y.; V.-P.’, John Carstens
Ontario Light & Traction C o ___
100.000
100.00%
sen, Walter Kernan and James F. Hamilton; Treas., M. S. Barger, N. Y.;
Rochester Electric Railway C o __
87.50%
175,300
Sec. & Gen. Aud.. J. C. Collins, Rochester; Asst. Treas., C. A. Tucker,
2 to 8%
Miscellaneous
5,850
Rochester; Asst. Sec., I . L. Reichart, N. Y.; Gen. Mgr., James F. Hamil
I
A ls o ow n s $56,155 City o f N . Y . 4 \ i % c o u p . " O o r p . "stock a n d $138,000
ton.— V. 106, p. 499, 607, 1461. 1680, 2011.
ra ilroa d b o n d s .
( ) Schenectady Railway.— A trolley road.
1
Entire stock i owned Jointly by the N. Y. State Rys. and the Del. &
s
F r a n c h is e s in Rochester are practically perpetual and exclusive, with
Hud. Co., ono-half by each. V. 80, p. 652; V. 87, p. 286, 545; V. 88,p. 54
exception of a few extensions which run for 50 years.
O R G A N I Z A T I O N . — Incorporated In N o w York. A reorganization on
C o n tr a c t f o r P o w e r . — Power for a lines I suppllod under a long-torm con
ll
s
Fob. 11
of Schenectady Stroet Ry. Co., which was chartered In 1886.
tract with tho Roch. Ry. & Lt. Co., whose entire com. stock i owned by Controls1895 entire street railway business In Schenectady and owns and
s
the
Mohawk Valley Co. (in turn owned by N. Y. Central RR.). Tho Roch. operatos doublo-track lines to Albany, Troy and Ballston Spa. and, under
Ry. & Lt. Co. has the following securities: Stock, common, auth. and I traffic agreements
s
the Hudson Valley
from
sued, $7,250,000 (increased from $6,500,000 In 1917): preferred, authorized. Saratoga Springs. with trackage rights over Ry., UnitedBallston Spa to
Has
the
Traction Co.'«
$5,000,000 (Increased from $3,000,000 on Apr. 1 1918); outstanding $4, tracks Into Albany and Troy. F r a n c h is e s perpetual.
„ „
000,000 (soo offerings in V. 106, n. 1349, 2126.) Consol. M. 5s dated 1904,
F a v o ra b
c i s io n R eg a rd in g F a r
Ma
the P. S. Comm,
auth., $16,000,000; Issued, $10,881,000. See V. 92, p. 730. On Sept. 30 dismissed le D ecomplaint of the city e s . — On tho y 21 1914in which an order
tho
against
company
1917 this co. merged with Its l tho Canandaigua Gas Light Co., Dospatch
ef
uskod compelling
to e l
Heat, Light & Powor Co. and Eastorn Monroe Electric Light & Gas Co.; was straight rate of the company 98, s l six tickets for aVquarter Instead
a
V.
p.
See also .
also acquired tho proporty and franchises, other than tho electric railway ofTho company hasfive cents. the P. S. C 16.09. for authority100, p. 231.
applied to
omm,
to raise fares
proporty, of tho Ontario Light & Traction Co. Plans for tho merger of
which with this company aro now undor way. V. 104, p. 458, 664; V. 105, to 6 cents.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
p. 1310, 1709, 2279.
,
$4,100,000 See text
On Feb. 19 1915 the P. S .Comm, donlod tho city of Rochester’ applica Stock $7,000,000 ($100)..................
s
tion for an order directing tho company to reduce I s faro In tho Rochester First mortgage $20,000,000? 1916
t
5 g M-S
2,676.000 Mar 1 1946
gold ($1,000)....... c*.(U. S. Mtgo. & Trust Co., N. Y., trustee.
zone from 5 to 3 conts during rush hours. V. 100, p. 643.
B o n d s . — $324,000 additional bonds may be issued to retire floating debt
For P. S. Commission’ decision dismissing complaints of residents of
s
i
‘ )
Onoiila, Ohlttonango Station, Syracuso and other places asking lower faros, and for othor corporate purposes. Remainder of f rst $5,000,000(Ser.‘A ’
commutation and school rates, &c.. soe V. 101. p. 213.
may bo issued from time to time for cash cost of extensions and permanent
improvements. Bonds in excess of $5,000,000 may only bo Issued for 80%
F a v o ra b le J itn e y D e c i s i o n — See V. 102. p. 2167.
On Doc 29 1916 the Court of Appeals upheld the constitutionality of the of cost of extensions, &c.t under conservative restrictions, and may bear
Charlotte annexation b l which provides for a single 5-cont faro within tho Interost. not oxcoodlng 6 %, and be callable under such terms and conditions
il
city limits as extended. Tho co. appealed from tho decision, was defeated, as the directors may determine. Ser. "A" bonds are callable at 102M and
Int. on any Int. date on and after March 1 1919. Exempt from N. Y.
and now has carried caso to the Supreme Court.
State, county municipal personal property taxes. V. 102, p. 887.
F a r e s . — In Juno 1917 applied to P. S. Co m m , for auth. to incroase fares
D iv i d e n d s . — Initial dlv.— 2 ^ % — In 1906; 1907 and 1908, none. In 1909.
from 5 to 6 conts In the citios of Rochostor, Syracuso, Utica, Romo, Oneida, 4%; 1910, 6 H % ; 1911 to 1915, 6 %. In 1916, 5%. In 1917, 3 H % and Little Falls. On April 18 1918 Judge Outlibert W . Pounds in tho E A R N I N G S . G ro s s
N e t ( fte r O th er
a
F ix e d
D M B a la n c e .
N. Y. State Court of Appeals at Albany handed down a decision holding C a l. Y e a r — E a r n in g s . T a x e s ) .
In c.
C h a rg es.
d en d s.
S u r p lu s .
that tho Commission cannot incroase faros on Rochester surface li e . Tho
ns
1917 ___ $1,447,151 $372,720 S I,143 $148,703(3?4)S153,750 $<1,410
couro hold that whore a municipality and a street railway corporation have 1916 .... 1,329,583 373,619 2,679 137,228 (5%)205,000 34,070
onterod Into an agreement to fix tho rate of faro at 5 cents, tho pact i
s
R O A D . — Operates 139.85 miles or track, of which 114.61 miles owned
and 25.24 miles operated under traffic agreements. 70, 75, 78 and 80-lb.
'^In'lVIay P918°appVied to tho N. Y. Public Serv. C o m m , for authority to T girder r i . lias agreement with Fonda Johnstown & Gloversvllle
al
negotiate a 5-year loan from tho War finance Corp. for not to exceed $1 Ry. Co. (electric division) whereby latter company operates i s cars Into
t
500,000. Auth. to issuo sufficient 1st consol, mtge. 4 H % bonds to realize Schenectady. Does a package express business through controlled Electric
$2,230,906 (at a prico to bo approved by tho 1 .S. Comm.) and to issuo and Express Co. Operates 201 motor and 33 othor cars.
plodgo as co l security to tho abov«>mentioned or other loan $2,500,000
l,
OFFICERS.— Pres., Horace E. Andrews; V.-P., Frederick P. Gutehus;
par value of tho bonds was also asked. V. 106, p. 2011.
Gen. Mgr., Jas. P. Barnes; Sec., Treas. & Purch. Agt., J. I . Aitkin; Gen.
I
Aud., J. O. Collins, Rochester; Aud., F. E. Belleville— V. 102, p. 887;
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $19,997,700 ($100)......
Q-J
$19,952,400 Soe text
_____
V. 106, p. 612.
Prof *3.862,500 ($100) 5 % c u m ...
Q-J
3,862,500 Apr '18, 1 H
B U F F A L O L O C K P O R T & R O C H E S T E R RY.
1st cons M Sor A $50,000,000 i 1912 4 H g M - N 13,457.000 Nov 1 1962
O R G A N I Z A T I O N . — Incorporated on June 22 1905 in N e w York. Is
gold ($1,000)____ c*otr*tnSecurity lrust Co. of Rochostor, trustoe.
a consolidation of tho Albion Elec. Ity., the Albion & Lockport Ity. and
(Interest at Treasurer’ offlco. N o w York.
s
the Albion & Rochester Ry. A financial readjustment was made in Jan.
Rochostor R y Consolidated I 1890
5 g A-O
2,700,000 April 1 1930
1911 wheroby tho co.'s bonded debt was reduced from $3,400,000 to $2,
Mortgage $3,000,000 ($l,-{Interest at 'treasurer's office. N o w York.
750,000 and a l past-due coupons ( i s default Aug. 1 1909), incl. the one
l
frt
000) gold___________ c*[Bankers lrust Co., N o w York, trustee.
l
Roch Ry 2d M $1,500.0001 1893
5 g J-D
1.500,000 Doc 1 1933 due Fob. 1 1911, and a l equip, notes were canceled. V . 91, p. 1710.
Allen & Peck Inc., Syracuse, N. Y., resigned as Managers on Dec. 1
gold ($1,000)-....... c*\Int. at Security Tr. Co., Rochostor, trustee.
ite
Rochostor City & B 1st mtgof 1889
6 A-O
175,000 April 1 1919 1917. after having operated tho line a l t l over 3 years.
Majority of stock has been deposited with the Equitable Trust Co,,
$500,000 ($500)........ llntorost at Rochester Trust & Safe Dep. Co.
Utica & Mohawk Vail 1st M l 1901
4 M g M-S
2,268,000 Sept 1 1941 N. Y. under voting trust agreement for 3 years from July 15 1915. Trus
$4,000,000 gold ($1,000) IInterest at Harris, Forbes & Co., N o w York; tees, E. R. Wood, Toronto: F. W. Roobling Jr., Trenton N. J.; and
c*_______cannot bo caliod I N o w York Trust Co., N o w York, trustoe. William Nottingham, Syracuse.
112
D e f a u l t . — Int. on the 1st M . 5 % bonds was again defaulted Aug. 1 1916.
See statement by Pres. Allen and Sec.-Treas. W . W . Foster In V. 103,p.768.
Subsequent coupons also in default. Jan. 1 1917 and subsequent int. on
2d M . bonds also in default.
A n application for permission to increase city fares to 6 cents was with
drawn on March 21 1918, and a new t r f , effective April 27 1918, providing
aif
for an increase of 14 cent per mile on a l interurban fares was filed on Mar. 27
l
1918 in it stead.
s
STOCK A N D BONDS—
D a te .
In terest.
O u t s t a n d in g .
M a t u r it y .
C o m m o n 32,500.000 ($100)................
$2,500,000 ........
Pref $1,500,000 6 % non-cum-___
______
1.500.000 ........
1st mtge $4,000,000 gold.../ 1904
5 F-A
...... .... 1 1954
2.799.000 Fob
($1,000)---- ------ c*tfllnt. at Lincoln Trust Co., Trustee.
Second mortgage.........
1915
6 J-J
200,000 July 11920
(Equitable Trust Co., Trustee.
B o n d s . — 1st M . bonds are subject to call at 110 & accrued Int. on any Int.
day on 3 mos.’notice.
E A R N I N G S . — For years ending June 30:
J u n e 30
G ross
N e t ( fter
a
O th er
In te re s t,
B a la n c e .
Y ear—
E a r n in g s .
T a x es).
I n c o m e . R e n ta ls , &
D e f ic it .
1916-17....... $412,682
$112,380
$818
$199,525
$86,327
1915-16------- 399,176
147.395
819
192,413
44.199
R O A D . — Operates about 58 miles between Rochester and Lockport.
Rails 70 to 80-lb.
OFFICERS.— Pres., R. H o m e Smith, Toronto: V.-P., A. S. Muirhead;
Toronto; Sec.-Treas. & Gen. Mgr., W. W . Foster, Rochester.— V. 104.
p . 2116: v . 105, p . 715, 2271: V . 106, p . 1796.
R O C H E S T E R & M A N IT O U R R .
O R G A N I Z A T I O N . — Incorporated on Aug. 121908. Acquired property of
the Rochester Charlotte & Manitou, sold at foreclosure July 21 1908.
_ ST9£;K A N D B O N D S —
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $60,000 ($100)....... ..............
$60,000 ..... .
First mortgage $60,000 gold/ 1909
5 g M-N
58,000 M a y 1 1929
($500 and $1,000)— c*ntf (Int. at Security Trust Co., Rochester, trustoe
B O N D S . — $2,000 bonds remain unissued. N o sink. fund. Bonds are
subject to call at 105 and Int. on 8 weeks’ notice.
OFFICERS.— Pres., Henry W . Wedol; Sec. and Treas., Kendall B.
Castle: Supt., Geo. M . Wegman.— V. 87, p. 545; V. 88,p. 1314.
ROCK ISLAND, ILL.
M IS S IS S IP P I V A L L E Y R Y . & P O W E R C O .
O R G A N I Z A T I O N . — Incorp. In Delaware July 1 1915 to take over the
Rock Island Southern Ry., the Aledo Terminal Ry., the Rock Island Alexia
Rv. and the Edwards River Power Co. ( l formerly operated by the Rock
al
Island Southern Ry.), as per plan of readjustment in V. 101, p. 449. Under
the phan acquired all the com. and pref. stocks of these companies and
$1,341,200 (out of $1,873,200) 1st M . bonds of the Rock Island Southern
Ry. and $415,000 Aledo Term. Ry. 1 st M . bonds.
D e f a u l t — I n t e r e s t F u n d in g P l a n . — Being in need of at least $150,000 for
the rehabilitation of the Rock Island Southern Ry. property, and finding i
t
Inadvisable to s l additional prior lien bonds In view of the unsettled finan
el
cial situation, the Miss. Valley Ry. Sc Pow. Co. entered into an agreement
with the holders of the $533,000 Rock Island Southern R y .bonds not owned,
by which tho time of payment of Interest on those bonds and the bonds held
by the M . V. I . & P. Co. will be extended for 3 years. Tho M . V. R. & P.
t
Co. being without funds to pay the interest due July 1 1917 on I s 1st & ref.
t
5 % bonds, holders of said bonds have besh requested to exchango their
coupons for the 3 years beginning July 1 1917 for bonds of the same Issue,
ar for par. The unissued Prior Lien bonds are to bo canceled. For
urthor details sea V. 105, p. 607.
of C o lla t e r a l. — The interest and principal due June 1 1917 on the
$266,000 coll, trust notes of the R. I Southern Ry. remaining unpaid, the
.
$532,000 1st M . 5 % bonds of that company pledged as collateral, were
sold at foreclosure Aug. 27 1917, presumably to the committee for the note
holders. Comparo V. 105. p. 607.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n stock $2,500,000........
........ $2,291,060 ____
Preferred stock $2,000.000__ ____
______ _ 1,079,524
Prior Lien bonds $300,000 lstf 1915
5 J-J
abt.175,000 See text
refunding mortgage ($100, 1915
/
5 J-J
abt.800.000 July 1 1945
S e e .) ---------------- c*(lnt. at Columbia Trust Co.. N.'Y.. trustee.
R o d I s l a n d S o u th e r n R y .
—
Firstmtge$2.500.000g(3100)/ 1908
5 g J-J
$1,873,200 Jan 11947
$500 and $1,000)----- tf(Central Trust Co., Chicago, trustee.
v o t i n g T r u s t . — The com. and pref. stocks have been deposited In a voting
trust expiring in 1920. Trustees: Henri O. Morand, A. O. Chambers,
T. P. Gaylord, J. J. Fleming, J. A. Hanley, M . A. Walsh, O. H. Walsh and
Will n. Clark.
B o n d s . — Provision I made for the retirement of the prior lien bonds out
s
of the sinking fund or by the sale of other bonds, the bonds taken in oxchange for tho old securities then becoming an absolute first lien. Addi
tional bonds m a y only bo Issued for betterments, extensions. &c.. under
carefully guarded restrictions. $1,341,200 of the R. I Southern Ry. bonds
.
are owned by the Miss.' Vail. R. & P. Co.
R O A D . — Runs north from Monmouth to a connection with the Chic.
Rock Island Sc Pac. Ry. at Monmouth Junction. 31 miles, and thence op
erating into city of Rock Island, a distance of 22 miles, over line leased for 25
years from O. R. I. Sc P. Ry., which has been electrified. Also 7 miles from
Gilchrist June, to Alodo and 6 miles from Alexis Jet. to Alexis. Total
miles of single track operated, 72.29. Has connections for Davenport,
la., Moline and Galesburg, 1 1 10 pass.. 213 freight, 2 express and freight
1.
and 7 work cars; 7 steam locomotives. 75-85-Ib. r i s Also operates the
al.
power house located at Edwards River.
OFFICERS.— Pres., ,. J. Flomiug. Burlington, Iowa; V.-P., T. P.
T
Gaylord, Pittsburgh: Sec., M . A. Walsh, Clinton, la.— V. 101, p. 149:
V. 105, p. 607.
______
F
ROCKLAND, ME.
M A I N E R A I L W A Y S . L I G H T & P O W E R CO.
O R G A N I Z A T I O N . — Organized In Maine June 3 1914 as a holding com
pany to control street railway, electric lighting, gas and hydro-electric
properties. In addition the company will have a complete organization
prepared to furnish engineering, appraisal or management services to
owners of other public service companies.
Owns 86% of the stock of the Rockland Thomaston & Camden Street
Ry. and tho entire common stock of the Oxford Electric Co. Owns and
operates a gas plant In the city of Rockland and furnishes electric light and
power In the city of Rockland, towns of Camden. Rockport, Thomaston.
Warren. Norway, Paris, Mechanics Falls and Oxford. V. 99, p. 1832.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Stock common ($100) $500,000 ___
________
$250,000 250,000
See text
Pref 6 % cum ($100) $500,000......... ......
Co'l bonds $260,000 ($500 & 7 1914
5 J-J
170.500 July 1 1919
$1,000) red on any int date/Int. at Union Safe Dep. & Trust Co..
at 102---------------- ( Portland, Me., trustee.
D iv i d e n d s . — 6 % I being paid on preferred stock.
s
E a r n in g s . — Of controlled properties for 12 mos. ending June 30:
X fP lT *
[Vol. 106
E L E C T R IC R A IL W A Y S
G ross.
N et (a ft. T a x es ).
C h a rges.
S u r p lu s .
1916-17........... $290,053
$86,273
$42,550
$43,723
1915-16........... 268.496
91.003
39.992
5 1 ,0 1 1
OFFICERS.— Pres., William T. Cobb; Treas.. F. H. Bradford; Clerk.
J. H. Drummond; Aud., E. J. Thompson. Address. Union Mutual Bldg.,
Portland, Me.— V. 99, p. 1832.
4 " R^oclcland Thomaston & C a m d e n Street Ry.— A n electric road.
^^
In Feb. 1901 consolidated with the Knox Gas & Electric Co. and made a
new mortgage for $800,000, from tho proceeds of which tho old bond issues
of both companies wore retired. 86% of the stock i ownod by the Maine
s
Railways,Light & Power C o .
a.8T
D 3—
D a te .
In te re s t.
O u ts ta n d in g .
M a tu r ity
Stock $400,000 ($100)
..............
$400,000
See text
l f “ °rtgivg° «§9.000 gold/ 19°1
sc
4 g J-J
800,000 Jan 11921
($500 and $1,000)— c.cptllnt. at Union S.D.&Tr.Co., Portland, trust
B o n d s . — N o sinking fund and bonds cannot be called.
D iv i d e n d s . — Are being paid quarterly at tho rate of 5 % per annum.
R O A D . — Operates 23.92 miles of track from Warron through Thomaston
to Rockland,. Rockport and Camden. — — k * 1901 1/u.uuaoou "Oak
purchased uoa--- In Sept.
.
" , --- ,
’- a Pl0aauro «»ort. 20 pap.. 1 express car.
f
8 freight cars. 4 work cars. 3 snow plows and 1 combination car.
E A R N I N G S . — For year end. June 30:
Year—
Gos
rs.
Nt
e.
Cags
hre.
Srls
upu.
1916-17— ........ $241,255
$70,954
$33,600
$37,354
75.055
33,062
41,993
1915-16----------- 224,521
— V. 72, p. 392; V. 98, p. 1246; V. 99. p. 1833.
(
2) Oxford Electric Co.
O R G A N I Z A T I O N . — Chartered In Me. Nov. 14 1894 as the Norway &
Paris St. Ry. (see this Section for Sept. 1916). N a m e changed to above
Jan. 6 1916 and refinanced as shown below. On March 29 1916 acquired
the Mechanics Falls Elec. Lt. Co. Entire common stock owned by Maine
R y a . , Light Sc Power Co.
Operates 2.13 miles of electric railway between Norway and Paris; 40-lb.
T r i ; standard gauge. Also does an electric light and power business.
al
STOCK A N D BONDS—
D t . Itrs. O t t n i g M t r t .
ae
neet u s a d n . a u i y
C o m m o n stock $50,000 ($100).......... .
$50,000
..... .
Pref6%non-cum$30,000($100)...
......
30,000 _________
First & ref mtge ($500 and/ 1916
5J& J
175.000 Jan 1 1936
$1,000)--------------- (Int. at Union S. D. & Tr. Co., Portland, Tr.
E A R N I N G S . — For year end. June 30 1917 (incl. Mechanics Falls Elec.
Lt. Co.), gross, $48,798: net. after taxes, $15,319; fixed charges, $8,950;
surplus, $6,369.
ROME, GA.
R O M E R A I L W A Y & L I G H T C O .— A t r o lle y r o a d .
O R G A N I Z A T I O N . — Incorporated In Georgia on Nov. 30 1906 as suc
cessor to the City Electric Ry. V. 83, p. 1591. Furnishes light and power
to city and private individuals. F a c i e expire 1985; streot railway
rnhss
franchises practically exclusive. In 1916 canceled the old fir t and consol,
s
mortgages and made a new first mortgage as shown below:
STOCK A N D BONDS—
D t . Itrs. O t t n i g M t r t .
ae
neet u s a d n . a u i y
Common, $1,000,000 ($100)......
Q-J
$650,000 July’ 1 %
17
Pref, $100,000 ($100), 7 % c u m --Q-M
100,000
Soo text
First mtge, $3,000,000, gold/ 1916
5gA-0
850,000 April 1 1946
($500 and $1,000)-- c*cpt{Int. at Spencor Trask & Co., N o w York, or
l Fidelity & Columbia Tr. Co., Loulsv., Tr.
B o n d s . — Redeemable in whole or part at 105 and int. on any int. date on
60 days’notice. Sinking fund. 1 % of outstanding bonds annually, began
Oct. 1 1917, for retirement of bonds at not exceeding 105 and int., or
Investment in new properties, &c., against which no bonds may be Issued.
Remaining $2,160,000 aro reserved for not exceeding 8 0 % of cost or fair
value of additional property or equip., or add’ exts.. impts., &c. under
ns.
conservative restrictions. V. 103, p. 61.
D v d n s — On common In 1909, 2%: 1910. 1%: 1911, 3%; 1912. 6 %;
iied.
1913, 5%. In 1914 and to and incl. July 1917, 1 % quarterly: none since.
DIvs. on pref. stock were begun in Sept. 1916.
E A R N I N G S . — For cal. year 1917, gross, $181,709: pet, after taxes
$60,737. In 1916, gross, $189,790; net, after taxes, $81,472.
P o e t . Operates 12.1 miles of street railway lino in Romo, Ga., Incl.
rpry—
extensions to Lindalo and Scales Works. Standard gauge; 90-lb. girder
and 60 & 70-Ib. T r i s Also complete and well-equipped electric lighting
al.
system. Power plant has generating capacity of 1,760 k. w. (held in reerve). Has long terra contract for power with Georgia Ry. & Powor Co.
OFFICERS.— Pros., S. A. Culbertson: V.-P. and Gen. Mgr., S. S. Bush
Louisvillo, Ky,; Supt., H. J. Arnold, Rome.— V. 103, p. 61. 146.
ROSLYN, LONG ISLAND, N. Y.
N EW Y O R K & N O R T H SH O R E T R A C T IO N C O .
, O R G A N I Z A T I O N . — Incorporated in N o w York on Aug. 6 1902 as the
Mineola Roslyn & Port Washington Traction Co.; name changed to present
t tle Aug. 26 1907 by order of Supreme Court. In March 1912 Public
i
Service C omm, approved the making of a new mtge. and tho lssuanco of
$800,000 bonds thereunder; also auth. tho Issuance of $757,500 additional
stock (V. 94. p. 698; V. 93, p. 940). Tho new bonds wore Issuod in April
1914, part of the proceeds being used to retire tho $350,000 1st M . bonds
of 1907.
Fare I c e s . On June 28 1917 the P. 8 .Comm.. 2d Dtst., authorized
nrae—
an Increase in fare from 10 to 15 cts. between Mineola and Port Washing
ton; also granted increases between other points,on the lines In Nassau
County.
F a r e D e c i s i o n . — On Jan. 9 1918, the P. S. C omm, for the 1st Dist.
denied the co.’ application for an increase in fare from’5 to 7 cents on I s
s
t
lines in Queens Borough, N. Y. City, holding that, inasmuch as the co.
obtained the consent of the City of N e w York to tho use of city streets
only by agreeing never to charge more than 5 cents as i s rato of fare, the
t
Comm, l a no power to authorize an increase fare unless tho city shall
is
f r t waive or modify tho limitation contained in i s franchise contract
is
t
with the company. V. 106, p. 296, 1127.
STOCK A N D BONDS—
D t . Itrs. O t t n i g M t r t .
ae
neet u s a d n . a u i y
_
Stock $1,260,000 ($50)_____ ________ _____ j $979,350 ..
Firet mtge$3,000,000g(S100,1 1914. 5 A-O
•
800,000 Apr 11954
$500and $1,000)---- c* tf/lnt. at Citizens’Sav. & Tr. Co., Olev.. trust.
B o n d s , — Sinking fund created for property, which will rovort to City of
N e w York, at expiration of franchises. Monoys may be used to retire
bonds or for acquisition of new property. Subject to call at 102 and int.
at any Int. dato. Edwin V. Hale, Cleveland. O., i co-trustee.
s
E A R N I N G S . — For year ending June 30:
,,
Year—
Gos
rs.
Net ( fe
atr O h r
te
Itr s ,
nee t
T x s . Income. R n s &c.
ae)
et,
Blne
aac,
SroDf
u.re.
1916- 11.... S158.3G1
$37,926
$1,710
$48,518
def.$8,882
1915-16...... 166,347
48,624
1.179
47,771
sur. 2,032
R O A D . — Operates from Flushing to Whitestone, and from Flushing
through Bayslde. Douglaston, Little Neck, Manhasset, Roslyn, Mineola
and Westbury to Hfcksvlllo, with branch from Roslyn to Port Washington:
total track, 38.08 miles; 29.42 miles of road. Standard gauge; 70 and 103-lb
girder r i . Oars (motor 19, other 4), 23. Owns power station with two
al
1,000 k. w. turbinos.
OFFICERS.— Pres., Geo. A. Stanley, Roslyn; V.-P., Bonj. A. Hegeman
Jr., N. Y. City; Sec. & Gen. Mgr., John G. Moran, Roslyn; Treas., George
F. Scofiold. Cleveland. O.— V. 91. p. 871: V. 03. p. 940; V. 94, p. 698; V. 97
p. 1824; V. 101, P.923; V. 106. p.296, 1127.
RUTLAND, VT.
R U T L A N D R A IL W A Y , L IG H T & P O W E R C O ,
$1,679,100 of the stock I owned by the General Gas & Electric Co.,
s
which see In our "Rv. & Ind.” Section.
O R G A N I Z A T I O N . — Is a consolidation In Feb. 1906 of tho Rutland
Street Ry., the People's Gas Light Co., the Vermont Internal Improvement
Co. and the Chittenden Power Co. In Sept. 1906 acquired the ontlra
$180,000 stock and $120,000 bonds of the Rutland City Electric Co. V. 83.
p. 626. In March 1908 consolidated with the latter company, thus com
pleting consolidation of a l the Rutland public u i i i s V. 86, p. 1044.
l
tlte.
F a c i e have been granted by special Acts of Vermont Legislature and
rnhss
are perpetual.
•>
«
Fa eI c e s . In Nov. 1917 tho Vermont P. S. C o m m . auth. an Increase
r nrae—
in fares from 5 to 6 cents for each zone. V. 105, p. 2095.
STOCK A N D BONDS—
D t . Itrs. O t t n i g M t r t .
ae
neet u s a d n . a u i y
Stock $2,000,000 ($100).... - .............. $1,700,500
See text
First mortgage $2,000,000/ 1906
6 g M-S
1,989,000 M c h 1 1948
gold ($1,000).........c*(Int. at Lincoln Trust Co., N. Y.. Trustoe.
B o n d s . — Bonds are redeemable at 110 and Int.. as a whole or In amounts
of not loss than $50,000, on any int. day. Sinking fund began March 1
1916, providing for annual payments Increasing from y i % to 2 % of bonds
out.
D v d n s — In 1913. 4 % : 1914, 3.35%; 1916, none; 1916, 2 M % .
iied.
E A R N I N G S . — For years ending Dec. 31:
, Cal. Y e a r —
G ross.
N e t , a f t . T a x e s . F i x e d C h a r g e s.
S u r p lu s .
1917-i
..... -..... $429,617
$141,674
$110,729
$30,945
1916------------ 403,474
145,065
107,296
37,769
R O A D . — Owns and operates 30.5 miles of track in Rutland and West
Rutland, extending to Fair Haven and Poultney on N o w York State l no.
i
Standard gauge. 60-lb. T r i . 29 cars.
al
OFFICERS.— Chairman of Board, G. TracyJRogers; Pros., W. S. Bar
stow; V.-P. & Gen. Mgr., F. S. Nicholson; Clerk & Treas., I . L. Hansen:
I
Asst. Treas., J. P. Campbell: Asst. Clerk, C .*N.IWilson.— V. 95, p. 112;
V. 101, p. 1093; V. 105, p. 2095.
’y
’
113
Richland.
Oswego
YORK
vCRemsen
CENTRAL
O n r jd a L a in,
Mt. Lakes
,
t'-°
A
^
GloversvilleJ
\ .
___
Lockport
HUDSON
WEST
Tonawanda
NFw
Bataviaj
FFALO
\Attica
—
RIVER R R
. ,
.s^ONEM^
LITTLE FALLS!
SHORE
SHORE
EAST
ONONDACfA
CAN AN DAIGUA
*
'S*
Blasdell
_
SCHENECTADY
S cotian
CARMANS X
Cooperstown
ALBANY
E LECT RIC R A IL W A Y S
STREET RAILWAYS
INTERURBAN
SCHENECTADY
R A IL W A Y S
Ithaca;
NEW YORK CENTRAL LINES
SCALE OF MAIN MAP
Watkin
Catskill
IN T E R U R B A N
N E W
YO R K
81
Kingston.
R A IL W A Y S
DRIVING1
Jverpool
LMERSOr
U VfJ P E f S T t dI * / ISsJr
Ac
CoIIamer
BY6.
A-T
Eastwood
M a y , 1918.1
Solvtiy^w^
Geddes Stalv^
GX D D E . ^ T
E
B r e tP r .
unt ak
Elmwood P r "
ak
IIO J P A GA
Onondaga 0
«~V
/ / Onondaga Valley
Oneida
Castle
>Station
st OnondAga
1 Jamcsville*
• O o d - C.|
naaa o
I Poy t a T f
ei c l r ^
SY R A C U SE
ONEIDA
1JTICA
E L E C T R IC R A IL W A Y S
114
ST. ALBANS, VT.
ST. A L B A N S & S V V A N T O N T R A C T I O N CO.— A trolley road.
O R G A N I Z A T I O N . — Incorp. In M a y 1912 in Vermont as successor to the
St. Albans Street Iiy., sold at foreclosure on Apr. 27 1912. Controls entire
street-railway business in St. Albans and Swanton. Charter permits the
carrying of baggage, express and mail; also the right to operate streot rail
ways in Franklin and Chittenden counties, Vermont. Stock authorized,
$200,000; outstanding, $125,000.
E A R N I N G S . — Of St. Albans Streot Ry., for cal. year 1915, gross,
$33,925. In 1914, gross, $34,907. In 1913, gross, $33,777.
R O A D . — Operates 13 milos of track from Village of St. Albans Bay, on
Lake Champlain, to City of St. Albans, and to Swanton. 60 and 70-lb.
T ri.
al
OFFICERS.— Pros., F. A. Persons, Greenfiold, Mass.; V.-P., Fuller O.
Smith, St. Albans; Sec., Elmer Johnson, St. Albans; Treas., Walter R.
Dame, Clinton, Mass.; Gen. Mgr., Geo. A. Murch, St. Albans, Vt.
ST. LOUIS, MO.
U N I T E D R A I L W A Y S CO. O F ST. LOUIS.
Is controlled by North American Co. of N e w York.
O R G A N I Z A T I O N . — Incorporated In Missouri on March 11 1898 as the
Central Traction Co., but changed i s name to above on July 10 1899.
t
On Dec. 31 1906 absorbed the St. Louis & Suburban Ry., giving I s pref.
t
stock, share for share, for the stock of that company. The United ltys.
guarantees tho $4,500,000 gen. mtge. bonds of the St. L. & Sub. Ry. See
V. 83. p. 39; V. 84, p. 105. In 1908 acquired a controlling Interest in the
Missouri Electric Co., successor to tho St. Louis St. Charles & Westorn
RR., which was sold at foreclosure In July 1905.
The United Rys. Co. comprises a l tho street car lines In operation In St
l
Louis. The co. was originally leased to the St. Louis Transit Co., but under
a readjustment arranged in Oct. 1904 by Messrs. Brown Bros. & Co.
(V. 79. p. 1333) the lease was canceled and the $17,264,300 stock of that
company nearly a l exchanged for voting trustees’certificates for common
l
stock of the United Rys. Co. on the basis of $500 Transit stock for $200
voting trustees' certificates. Voting trust has expired and common stock
has been issued for trust certificates.
Under this plan the $20,000,000 refund, and impt. mtge. bonds of the
St. Louis Transit Co., of which $8,000,000 had been Issued, wore canceled,
and In their place tho same company Issued $10,000,000 of 5 % improvement
bonds, guar, by tho United Rys. Co. of St. Louis, this guaranty being se
cured by a mortgage on a of that company’ proporty noxt in rank to that
ll
s
of I s general mtgo. These improvement bonds are now the only outstand
t
ing security of the Transit Co.
P o w e r . — Power I purchased from the Union Electric Light & Power Co.
s
and the Electric Co. of Missouri (successor to the Miss. River Power Dis
tributing Co.). Seo V. 106, p. 1454, for future requirements, &c.
U n iv e r s a l T r a n s f e r s . — Effective July 1 1914. V. 99, p. 50.
F r a n c h is e s . — The city contends that franchises expire as specified In the
original ordinances. The company contends that a l of these franchises
l
were extended to 1939 by the St. Louis Transit franchise and to 1948 by
the Central Traction franchise. The Rys. Co. has won Its contention in
the Circuit Court and an appeal I now pending In the Mo. Supreme Court.
s
A t i l l T a x D e c i s i o n . — Tho U. S. Supreme Court on April 10 1916 dismissed
the company’ appeal from tho docision In tho Missouri courts which upheld
s
the ordinance by which tho city collects a tax of one mill on each passenger
fare. V. 94. p. 418: V. 95, p. 1124; V. 99. p. 1053: V. 100. p. 400; V. 102,
p. 1437. On June 16 1916 the co. paid in f l the $1,839,205 Judgment
ul
obtained by the city for taxes from 1903 to 1910, with Interest. Judgments
for taxes since 1910, amounting, with lnt., to about $1,500,000 have not
yet been awarded. V. 103. p. 839.
F r a n c h is e O r d in a n c e . — After much delay and many amendments, an
ordinance was passed by tho Municipal Assembly on March 29 1918 and
signed by the Mayor on April 10 1918. Unless a referendum vote i invoked
s
within sixty days, tho ordinance i now a law. The principal features of
s
this ordinance are as follows:
(1 The franchise rights of the United Railways Co. are validated until
)
April 12 1948.
(2) Tho co. i required to reduce i s outstanding mortgage indebtedness
s
t
and capital stock to tho capital value established in tho ordinance, $60,000,
000 plus tho cost of any additions or betterments made to the property
after tho taking effect of this ordinance. This capital value I subject to
s
a valuation to bo mado by tho Mo. P. S. Comm.
(3) A Board of Control, consisting of ono member appointed by the city
and ono by tho co., shall pass upon a l proposed ext’, add’ and better
l
s
ns
ments, and on a l charges to capital account. In the event of disagreement,
l
a third temporary member shall bo appointed by the St. Louis Court of
Appeals.
(4 The city has tho right, after tho expiration of ten years, and at any
)
five-year period thereafter, to purchaso the railway system at I s then capital
t
value.
( ) At the expiration of tho franchise, I tho city grants a new franchise to
5
f
another party, tho city shall requiro this grantee to purchaso tho property
of the co. at i s then capital value.
t
( Tho rate of fare i established within tho city limits at 5 cents for
6)
s
adults and 2>$ cents for children, with tho provision that i , and when, tho
f
Mo. P. S. Co m m , or other legally constituted rato-making authority shall
have tho jurisdiction to lawfully alter these rates, then the rate of fare shall
be as ordered by such authority. Free transfers are required under the
samo conditions. [In M a y 1918 Mo. P. S. Co m m . auth. an increase in
adult fares to 6 cents, effective Juno 1 1918.1
( Tho co. i authorized to haul mail, express and freight under certain
7)
s
conditions.
( The standard of service shall bo prescribed by the Mo. P. S. Comm,
8)
in i order of M a y 4 1915.
ts
( Tho co. must pay the unpaid mill tax and int. accrued thereon
9)
(approx. $2,300,000) m 10 annual payments.
(10) Tho co. i to pay one-half of 1 % of i s gross receipts in lieu of mill
s
t
tax and a l franchise taxes. This tax may bo increased at any time during
l
l f of tho franchise to not exceeding 3 % of gross receipts.
ie
(11) All net earnings in excess of 7 % of tho capital value may hereafter
be required by ordinance to bo paid to tho city as a franchise tax, or may
be applied by the Board of Control for tho reduction of fares or capital value.
■ (12) The co. i given 12 months from the final approval of this ordinance
s
by the city within which to f l I s acceptance or six months after the con
ie t
clusion of tho war, i the war should continue longer than 12 months. For
f
further details, seo V. 106, p. 1908.
i Pending further developments, various protective committees have been
formed as shown below:
„
P r e fe r r e d S to ck h o ld ers' C o m m itte e . — L. I . McHenry, Chairman, Louis
I
v l e Ky.; A. J. Scharf, Secretary, U. S. Trust Bldg., Louisville, Ky.—
il,
V. 103, p. 2239.
C o m m itte e f o r F i r s t G e n . M t g e . 4s.— Breckinridge Jones, David R. Fran
cis Jr., Allen G, Hoyt, A. H. S. Post, F. H. Ecker and H. B. Collins, with
Hord Hardin as Secretary, N. W. corner 4th and Pine Sts., St. Louis, Mo.
Depositaries: Mississippi Valloy Trust Co., St. Louis; Farmers’ Loan &
Trust Co. of N. Y.; Mercantile Tr. & Dep. Co., Baltimore; Girard Trust
Co., Phila. V. 105, p. 181; V. 106, p. 1578.
A second committee representing holders of tho 1st Gen. M . 4s has beon
formed, consisting of N. A. McMillan, Pres. St. Louis Union Bank, Chair
man; Edward Mallinckrodt, M. Kotany, J. Herdnon Smith and Edwin G.
Morrill, a l of St. Louis, Mo. Depositaries: St. Louis Union Trust Co.,
l
St. Louis and the Union Trust Co., N. Y. V. 105, p. 291, 717; V. 106,
p. 1578.
C o m m itte e f o r S t. L o u is T r a n s it I m p t . 5s.— Edwin M. Bulkley, N. Y.,
Chairman; Edwards Whitaker, St. Louis, Vico Chairman; F. J. Lisman,
N. Y.; Charles S. Ludlam, N. Y.; George L. Edwards, St. Louis; W. Lorno
Scovil, 25 Broad St., N. Y., Scc’
y. Depositaries: Mercantile Trust Co.,
St. Louis and Bankers Trust Co., N. Y. V. 105, p. 181; V. 106, p. 1578.
C o m m itte e f o r S t. L . te S u b . R y . G e n . M t g e . 5s.— Herman O. Stifol, Chair
f
man, Pres. Stifel-Nicolaus Investment Co.: A. O. F. Meyer, Sidney H.
March, N. Y.; William G. Lackoy and John L. Johnston. Depositary:
Mississippi Valley Trust Co. of St. Louis. V. 105, p. 291.
•
V a lu a tio n . — For appraisal as of Dec. 31 1917 mado for city of St. Louis
by J. E. Allison showing a total reproduction cost of $72,589,141.
Seo
V. 106, p. 1578.
In M a y 19l6 the Mo. 1’ S. Co m m . auth. the St. Louis & Suburban Ry.
.
to issuo $1,000,000 Gon. M. 5s of 1903 to take up and pledge under that
mortgago tho $1,000,000 bonds Issued by tho St. Louis & Meramac Ry. Co.
for refunding I s $1,000,000 1st M. 6s, which f l due M a y 8 1916. The
t
el
$1,000,000 St. L. & Sub. bonds are held In the United Co's, treasury for
[Vol. 106.
future use.— V. 102, p. 2255. The $200,000 Southern Electric 5s maturing
Aug. 1 1916, were paid off and a like amount of United Rys. 4s were issued
and placed In treasury.
D e c i s i o n s . — On Feb. 26 1917 the Missouri Supremo Court held that the
P. S. Comm, had no auth. to compel the company to extend i s tracks on
t
streets on which i hold no franchises. A Ho hold void two sections of the
t
city charter conferring upon the city tho powor to regulate i s public u i i
t
t l ties.
On Feb. 8 1918 Judge Dyer in tho U. S. District Court at St. Louis
dismissed tho application for a receiver for tho company by a complaining
stockholder on tho ground that tho allegations In the application did not
justify a receivership and showed no cause for action. V. 106, p. 716.
W a g e I n c r e a s e . — V. 105, p. 1803.
F a r e I n c r e a s e . — In M a y 1918 was auth. by the Mo. P. S. Comm, to
increase adult fares to 6 cents effective Juno 1 1918. At the end of 1 year
the co. must ( accordance with above ordinance) show cause for making
in
tho now rate permanent. V. 106, p. 2124.
S trik e— W a g e I n c r e a s e . — See V. 106, p. 2124.
STOCK A N D BONDS—
D a le .
O u ts ta n d in g .
M a tu r ity .
In terest.
Stock com $25,000,000 ($100)___
$24,913,800
Stock preferred 5 % cumul
$20,000,000 ($100)______
5 Q-J
16,383,200
See text
Gen 1st mtge $42,000,000 1899
4 g J-J
32,232,000 July 1 1934
.
($1,000) gold....... c*tf Int. at St. Louis Union Trust Co., Trustee,
Cannot bo called.
or atNorth American Co., N e w York.
Improvement bonds gold 1904
5 g A-O
9.790,000 Oct 1 1924
($1,000) St Louis Transit Int. at Mercantile Tr. Co.. St. Louis, Trustee
or at North American Co., N e w York.
C o _______________ c*tf
S to ck s a n d B o n d s . — Of tho $20,000,000 authorized preferred stock, $3,
603,300 i hold In the treasury. Preferred was listed on tho N o w York
s
Stock Exchange on Juno 1 1905. Of tho $45,000,000 gen. first mortgage
bonds originally authorized, $3,000,000, which had beon previously re
served for tho purpose of retiring bonds of tho St. Louis & Suburban Sys
tem, in case of purchaso, have beon canceled, making tho total authorized
Issuo now $42,000,000, of which $9,970,000 aro reserved for tho retirement
of underlying Hons. Of the amount roported outstanding, tho company
owns $1,932,000. Tho bonds aro secured by a l the stocks of tho constitu
l
ent companies, and by direct mtgo. lion upon their property and franchises.
In 1903 tho gen. mtge. bonds wore listed on the N. Y. and Philadelphia
stock exchanges (see V. 76. p. 980; V. 89, p . 995), and in April 1906 the
St. Louis Transit Co. impt. bonds were listed on the N. Y. Stock Exchange.
Tho impt. bonds aro guar., p. & 1 , by the United Rys. Co.; $210,000 are
.
in treasury.
B O N D ISSUES O F C O N S T I T U E N T C O M P A N I E S .
L in d e ll S y s te m —
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Llndell Ry 1st M $1,500,000/ 1891
4 H 8 F-A $1,500,000 Aug 1 1921
gold ($1,000)____ c*&rntf (Interest payable In N e w York and St. Louis.
C o m p ’ H U D & M T 1st M l 1893
n
5gJ-J
1,000,000 July 11923
($1,000) g (oxtend’
d)c*ntf\lnt. at St. Louis Un. Tr. Co., Trustee.
U n io n D e p o t S y s te m —
Union Dopot R R Cons Mtgo/ 1893
6 g J-D
3.500,000 Juno 1 1918
$3,500,000 gold____ c*ntf\lnt. at Miss. Valley Trust Co., St. Louis.
N a t io n a l S y stem —
St Louis R R f rst mtge curf 1890
i
4H M-N
1,948,000 M a y 1 1920
$2,000,000 ($1,000)...ntf Int. at Miss. Valley Trust Co., St. Louis.
Cass Avo & Fair Grounds 1st 1892
4HgJ-J
1,800.000 July 11922
oxtonded M $2,000,000 g Int. at Northern Trust Co., Chicago, trustee,
($1,000) sinkiug fund guar
and St. Louis Union Trust Co., St. Louis.
prin.& int (Nat Ry)._c*ntf
S t. L o u is
S u b . S y s te m —
St.Louis & Suburban cons M ( 1891
5 g F-A
$2,000,000 Fob 11921
$2,000,000 g ($1,000) c*ntfI Interest at Amor. Trust Co., Boston, Trusl tee; redeom. at 105 any Interest dato.
St L & Sub gon mtge $7,500,-/ 1903
5 g A-O
4.500,000 April 1 1923
000 gold ($1,000) guar.c*tf lint, at Miss. Val. Tr. Co.. St. Louis, Trustee
Of tho St. Louis & Sub. Ry. gon. mtgo. for $7,500,000, $2,000,000 are re
served to retire prior liens and $1,000,000 are In treasury. V. 76, p. 332.
Tho St. Louis & Meramac RIvor in April 1903 mado a mortgage securing
$3,000,000 bonds, a l of which have been deposited with the trustees
l
as additional security under the St. Louis & Suburban general mort
gage of 1903. St. Louis RR. bonds originally were 5 % bonds, maturing
M a y 1 1910. but they wore extended for 10 years to M a y 1 1920 at 41$%.
V. 90, p. 448. Tho St. Louis & Sub. RR. cons. mtge. bonds aro secured by
a deposit of $1,000,000 St. Louis Cable & AVestern Ry. bonds. Tho
Lindell Ry. 1st mtgo. were originally 5 % bonds maturing Aug. 1 1911;
but were extended 10 years to Aug. 1 1921 at 41$%. V. 93, p. 106.
Cass Avo. & Fair Grounds 1st M. wero originally 5s maturing July 1
1912, but thoy were extended for 10 years at 41$%. $200,000 have
been redoemed. V. 94, p. 913, 1509, 1764. C o m p ’ Heights Un. Dep. &
n
Mor. Term. 1st M. wero originally 6s, due July 1 1913, but wore oxtonded
10 years at 5%. V. 96, p. 1774. Red. at 1021$ and lnt. on 60 days’notice;
. & 1 guar, by United Rys. St. Louis Union Co., trustee. Of the Union
.
epot RR. bonds roported outstanding $265,000 aro held in treasury.
D iv i d e n d s . — First dlv., of 11i % on pref., April 10 1900 and tho same
amount quar. to July 10 1910, I c . none since. V . 91. p. 718; V . 93, p. 591.
nl;
R O A D . — On Jan. 1 1918 owned total of 457.79 miles of track (including
the St. Louis & Suburban), of which 345.61 m. are in tho city and 112.73
miles aro county track.
E Q U I P M E N T . — Has 1,398 passenger cars, 9 special cars, 10 mall and 7
express cars, 8 snowplows and 33 snow-sweepors, 2 oiectric locomotivos and
163 sorvico cars of various kinds. Total, 1.589.
R E P O R T . — For report for 1917. see V. 106, p. 1454.
1917.
1916.
1915.
1914.
Rovonue pass, carried..262,564,865 253,046,586 232,771,390 248,040,033
Transfer passengers___ 140,735,831 136,065,566 124,043,205 127,444,829
Gross oarnlngs...... $13,125,559 $12,641,294 $11,681,200 $12,450,925
D e d u c t — Opcr. expenses. $7,625,827 $6,953,125 $6,837,982 $7,354,806
Depreciation......
1,575,067
1.516.955
1.337,309
1,289,930
Taxes............
853, *61
821,684
739.539
767,794
&
Not earnings........$3,071,504
Other Income.......
94,702
$3,349,530 $2,766,370 $3,038,395
82,589
98,484
87,901
Total net income___ $3,166,206
Interest on bonds, &c.. 2,523,230
$3,432,119 $2,864,854 $3,126,296
2,544,614 2,599,327 2,618,255
Surplus..........
$642,976
$887,505
$265,527
$508,041
OFFICERS.— Pres. & Gen. Mgr., Richard McCulloch; V.-P., Murray
Carleton: Sec. & Treas., James Adkins; Asst. Sec., J. \V. Samuel; Asst.
Treas., Frank A. Gannon: Auditor, H. P. Taylor. Directors: J. I Beggs
.
Murray Carleton, I . S. Priest, D. R. Francis Jr., Richard McCulioch,
I
A. C. Brown, A. L. Shapleigh, F. O. AVatts, A. J. Siegel, I . C. Colo and
I
J. I . Newman.— V. 106, p. 191, 500, 608, 716, 823, 1232, 1454, 1578,
C
1690, 1901,2124.
(1)
M issou ri E le c tr ic R R .
Controlled by United Rys. Co. of St. Louis.
O R G A N I Z A T I O N . — Incorporated in July 1908 In Missouri and took
over property of St. Louis St. Charles & AVostern RR., sold at foreclosure
sale July 24 1905, on behalf of a syndicate. Stock, $1,000,000, a l out
l
standing. A $1,000,000 mtge. has been made to Morcautilo Trust Co. of St.
Louis, as trusteo, of which $700,000 are outstanding. Company operates
about 20 milos of track between St. Louis and St. Charles. Gauge 4 f .
t
10 i
n. 60 and 70-ib. T and girder r i . Pres., Richard McCulloch.— V.
al
87. p. 226. 480.
ST. L O U I S & ST. C H A R L E S B R I D Q E COO R G A N I Z A T I O N . — Incorporated on Dec. 22 1908 as successor to the
St. Charlos & St. Louis County Bridge Co., whose property was bid In at
foreclosure sale on Feb. 29 1908, for the bondholders, at $300,000. V. 86,
p. 669. The Missouri Electric pays the Bridge Co. 5 cts. for each passengor
crossing the bridge.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $300,000 ($100)... .............. .
$200,000 ........
1st mortgago $300,000 ($500)/ 1909
5 g J-J
300,000 Jan 11929
gold.------------- c*. IAmerican Trust Co., trustee.
B o n d s . — Subject to call at 105.
P R O P E R T Y . — Bridge across Missouri River 2,700 f . long, botwcon
t
City of St. Charles and St. Louis County.Kwas oponod April 22 1904.
OFFICERS.— Pres., Sam B. Joffries; Sec. & Treas., AV. V. Delahunt.
— V. 86. p. 669; V. 87, p. 227.; V. 88, p. 56.
ELECTRIC RAILWAYS
M a y . 1 9 1 8 .]
SALT LAKE CITY, UTAH.
U T A H P O W E R & L IG H T C O .
,
C ontrolled through ownership o f all the outstanding com m on and 2 d pref.
stocks, except directors' shares, by the Utah Securities C orporation , which
see In our “ Hallway and Industrial” Section.
O R G A N IZ A T IO N .— Incorp. In M aine Sept. 0 1912. Charter unlim ited.
Owns all the bonds and capital stock, except directors’ shares, o f W estern
C o lo . Power C o. and all tho stock, except directors' shares, o f Utah L t. &
T rac. C o ,. Leases for 99 years from Jan. 1 1915 tho elec, light and power and
gas properties o f tho latter. W ith Its controlled com panies operates In an
extensivo territory In Utah, Southeastern Idaho and Southwestern C o lo
rado, serving m oro than 100 com m unities. Including Salt Lake C ity , Ogden.
P rovo, Logan, Park C ity , Amorican Fork, Eureka, Bingham and L eh i,
Utah; Idaho Falls, ltexburg, Preston and M ontpelier, Idaho, and D urango,
Tellurido, M ontrose, Ouray and D elta, C olorado; total population served
estimated at moro than 290,000. Supplies power to the Salt Lako &
Ogden Ity. C o ., Salt Lake & Utah R R . and tho Ogden Logan & Idaho R R .,
and numerous Industrial enterprises.
__
, ,
,
Franchises aro satisfactory. In Salt Lake C ity franchise extends to
1955; in Ogdon to 1905: Provo, 1940; Logan, 1936; Bingham , 1953; Lelu,
1962, and in Preston, 1956. Other less Important franchises expire at
various dates.
,
,
, „
___
In O ct. 1916 tho auth. am ount o f com m on stock was Increased from $30,
000,000 to S35.000.000, and o f 1st prof, stock from § 5 ,000,000 to $15,000,
000. V . 103, p. 1597.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
Maturity.
C om m on stock ($ 3 5 ,0 0 0 ,0 0 0 )------— - - - - - $30,000,000
7.400.000 A pr T8.1J*
7 Q-J
Pref stock 7% cum ($1 5.000,000) —
4.937.000 -------- --------2 d pref stock ($ 1 0 ,0 0 0 ,000) — -----1.500.000 A ug 1 1919
6 g F-A
8 ecurcd notes 2-year $5,000,- (1 9 1 7
000 ($1 000)
- ____ c * fln t . at Electric B ond & Share C o ., N . Y .
t
5 g F-A
20,266,000 Feb 119 4 4
1st M ($100,000,000) g o ld / 1914
($1,000) ....... ...............c*& r/G uaranty Trust C o ., N . Y ., trustee.
Stock.— 7 % cum ulative preferred stock is redeemable at 115 and accrued
dividends. The second preferred stock as a whole or In part m ay cease
to bo subordinate to tho preferred stock upon vote o f tho directors, when
ever net earnings for twelvo consecutive m onths within tho fourteen
m onths Immediately preceding any application are 214 times tho d lv . re
quirements on tho orof. stock then outstanding, and the additional pref.
stock to be Issued hi exchango for tho 2d pref. stock. $2,900,000 o f tho 2d
pref. stock had boon exchange for first pref. stock as o f N o v . 30 1917.
— $2,083,000 bonds aro pledged as socurlty for notes and $490,000
held In troasury (not included In amount outstanding). Remaining bonds
m ay bo Issued at par only for 8 0% o f cost o f pormanont Im provem ents,
extensions or additions when annual not earnings are twice tho Interest
on bonds outstanding and thoso proposed to be Issued. R edeem able at
105 and int. on any Int. dato after Feb. 1 1919 on 4 weeks notice. Sinking
fund began D ec. 31 1916 as follows: 1916 to 1918, 1 % o f bonds out; 1919
to 1933, 2 % ; 1934 to 1943. 2% % . Notes aro secured b y pledgo o f $2,083,
000 1st M . bonds not included in tablo abovo. T hey aro callablo on 4
weeks’ notice In blocks o f not less than $500,000 at 10014 and int. V . 105,
Bns
od.
Didns
iv e d.
h.
Ya EGoss Ntxs r Oc Bn Int. O(Nt). Blalu,.
e r arin . T a). Inr &dist. t ee t. S rpcs
rnsg eaefte t e o Dc hrIn a ne
u
1916-17--$5,108,601 $2,640,293 $30 000 $1,082,354 $309,000 $1,278,939
P‘
— 7 % is boing paid on 1st pref. stock.
E A R N IN G S .— For years ending N ov.30 (incl. Western C olo. Tower C o .):
Nov. 30
(
—
1 9 1 5 -1 6 -- 4,247,302 2,194,163 ............
954,406 213,798 1,025,959
P R O P E R T Y , & c.— Generating capacity, hydro-electric, 116,507 k .w .;
■team, 25,565 k .w .; additional Installations o f 28,500 k.w . capacity under
construction. As o f July 31 1917: 1,858 miles or high-voltage transmission
tower and polo lines and 1,194 miles o f electric distributing lines. Gas
holder capacity, 240.000 cu. ft.; gas mains, 28 miles. C ustom ers, 61,000.
K .w .h . feeder output, 12 m os. end. D ec. 31 1916, 412,726,000; artificial
gas output, 49,520,000 cu. ft.
„ _ _ _ , ,
O F F IC E R S .— Pres., D . C . Jackling; V .-P ., S. R . In ch .— V . 105, p. 608,
1210; V. 106, p. 819.
(1) U tah L ig h t & T r a c t io n C o.
,
O R G A N IZ A T IO N .— Incorporated under the laws o f Utah, Sept. 18
1914. Tho com pany la a consolidation o f tho Utah Light & Railway C o .,
and tho Salt Lako Light & T rac. C o. (see those com panies on page 116 of
the Sept. 1914 "E lectric R y . S ection "). T he U tah Pow er & Light C o.
owns all tho stock o f this com pany except directors sharos, and has leased
for 99 years from Jan. 1 1915 tne electric light and power and gas properties,
leaving only the traction property to bo directly oporatod. V . 100, p.
734. Franchise In Salt Lake C ity explros In 1955.
T ho $12,151,100 1st & Itof. M . bond# outstanding are all owned b y the
Oregon Short Line R R .. except $15,100 held in Treasury.
— In Jan. 1918 was auth. by tho Utah P. U. C om m , to discontinue
tho salo o f 4-cent com m utation tickets and to charge a straight 5-cont faro
Several minor faro m odifications were also authorized. V . 106, p . 398.
STOCK A N D BON DS—
„
,
Maturity.
$1,000,000 ................ _
Capital stock $10,000,000________
____ - -
12,151,000 Oct 1 1944
First & ref M (auth amt un -f 1914
5 g A -0
limited) ($1,000, $500 a n d /In t. at 71 Bway. Bankers Trust C o ., N ow
$100)red at 105&int g s f.c*\
York, Trustee,
Jan 2
Utah L & R y 1st con M $10,-1 1904
5 g J -J
X 486,000 ----- _ 1934
T
000,000 gold ($1,000)— c*| ln t. a W l B w a j ^ I L Y . Equitable Trust
Fre.
as
Dte In ret. Ots nin.
a . te s u tad g
Utah Lt & P Prior Lien____ / 1900’
5 g J-J „
744.000 Jan 1 1930
$750,000 g ($1,000)___c * t f ( Int. at 71 B w ay. Central Trust C o ., N . Y ..
I Trustee.
1.113.000 Jan 1 1930
Utah L t & Power con M [ 1900
4 g J-J
$4,500,000 g ($ 5 0 0 )-— c * t f In t. at 71 Bway. E quitable Trust C o .,
( N . Y ., Trustee.
1.440.000 July - ____1
1 192
Cons R y & P 1st M $ 3 ,0 00 ,-/ 1901
5 g J-J,
^
.--000 gold ($1,000)— c*& rt ft Int. at Equitable T r. C o ., N . Y ., Trustee.
— Sufficient 1st & ref. bonds o f 1914 aro resorvod to provide for
underlying lions (all closod Issues). Present Issue known as Series “ A ”
bonds.
o f 1% o f outstanding bonds from 1917 to 1919; 2%
1920 to 1934; 2 1 4 % , 1935 to 1943. Sinking fund m ay bo used to redeem
bonds at not m oro than 105 or to reimburse tho co. for cash cost o f additi
onal properties, &c.
_
E A R N IN G S .
Bns
o d.
S k gfu d
inin n
Goins Txs
e a.
t,
Cl.6Ya $1,455,081. $502,172r
a e r Er s g Naefte
as
rn
1 9 1 .................
—
Oee &. (Ns Blac.
e rp s
Intm. IncCgt). Sa lue
chr t. he ., u n
o
*365.212
*359,740
$7,644
461,774
359.279
308,791
12,202
1 9 1 5 _________ 1,405.184
R O A D .— Tho consol, com pany owns and operates 145 mllas o f track.
Including double track, sidings, & c., connecting Salt Lako C ity , Sandy.
M Idvalo, M u rray, Holliday and Bountiful. ‘Has 237 passenger and sorvlco cars. Including 131 double-truck I’ -A -Y -E cars.
O F F IC E R S .— Pres., O . W . W hitley; V .-l’ s.. O. J. Salisbury, W m . Darbee, D . F. M cG co and O. E . Groesbeck; Gen. M g r., II. F. D ick s.— V . 102,
p. 2167; V. 104, p. 2012, 2642; V . 105, p. 820; V. 106, p. 398.
BAMBERC1ER E L E C T R IC R A IL R O A D .
_
H
„ ,
O R G A N IZ A T IO N .— Incorporated in Utah as tho Salt Lako & Ogden
R y . N am e changed to present title In Sept. 1917. On M a y 28 1910
began operating cars b y electricity; prior to that dato road was operated
b y steam . Shortest o f
expires In 1955. Practically entire mile
age Is on private right o f way.
Lake Terminal C o.— Owns 50% o f the stock o f tho Salt Lako Term inal
C o . and with tho Salt Lako & Utah R R ., which owns tho other 50% o f
stock, operatos tho proporty undor a 50-year lease. Thoso tw o com panies
Jointly and severally guar, its 1st M . bonds p. & I. See under Salt Lako
& Utah R R . and in V. 101, p. 1371.
STOCK A N D BONDS—
Com m on $1,000,000...................................................
$1,000,000 ..............
P ref $500,000 (0 % n on -cu m ).................................
500.000
..............
First intge $2,000,000 g o ld / 1909
6 g F-A
1.500.000 Fob l 1934
($ 1 ,0 0 0 )............- ...............c*\ Int. at Harris T r .& S a v . B k ..C h ic ., Trustee.
Bonds.—'First mtgo. bonds aru subj. to ca ll at 105 and Int. on and after
Feb. 1 1914. Remaining bonds can be Issued under certain restrictions
for oxtonslons and additions.
E A R N IN G S .— For year ondin? D ec. 31 1917, gross, $509,796; net, after
taxes, $220,871. In tOlO, gross. $454,171: net. after taxes. $191,445. In
1915, gross, $414,516; net, aftor taxes, $178,678.
R O A D .— Oporatos a high-speed Intorurban railway, 35>4 miles, between
Salt Lako C ity and Ogdon; total trackage, 69 miles. 18 m otor cars, 2
olectrlc locom otives and 1 work car. Now terminal In Ogdon for uso o f this
com pany and tho Ogdon Logan & Idaho R R . was com pleted Jan. 1 1915,
P ow er is purchased from tho Utah Power & Light C o.
Slt
a
fra c iss
nh e
Dte In ret. Ots nin. Mlu .
a . te s u tad g a ritg
L15
O F F IC E R S .— Pres., Julian M . Bam berger; V .-P ., J. B . Bean; Sec.*
E . A . Vail: T reas., Simon Bam berger; A u d ., W . E . Jones.— V. 102, p . 2167*
U T A H -1D A H O C E N T R A L RR~
O R G A N IZ A T IO N .— Incorp. in Utah O ct. 17 1914 as the Ogden Logan
& Idaho R R . as a consolidation o f the Ogden Rapid Transit C o . and the
Logan Rapid Transit C o ., with $5,000,000 auth. stock. O f the new stock
2><j shares were exchanged for one share o f the Ogden R apid Transit C o.
($500,000 auth.) and 1
shares for each 10 shares o f the Logan R apid
Transit stock. N am e changed to present title on Jan. 1 1918.
A terminal in Ogden for the uso o f this com pany and the Salt Lake &
Ogden R y . was com pleted Jan. 1 1915.
STOCK A N D BONDS—
Date.
Interest.
Outstanding.
M aturity.
S to c k $5.000,000--------------------- --- --------------------32,379 sh. „
Ogden R ap T r 1st M (g o ld )/ 1909
5 g J-J
$965,000 Jan 1 1929
(V 8 8 , p 1062; V 99, p 6 7 5 )-t in t, at Ogden Sav. B ank, Trustee.
First m tgo $10,000,000 g o ld / 1915
6 g J-J2
3,000,000 Jan 2 1935
($500 and $1,000)____ c * t f lin t, at Ogden Savings Bank, Trustee.
Bonds.— Remaining 1st M . bonds m ay be issued at such rate (not exceed
ing 6 % ) as tho directors m ay determ ine, as follow s: $750,000 for corporate
purposes o f tho com pany and remaining $6,250,000 for 75% o f the cost
o f exts., add'ns, & c., under certain restrictions. Subject to call at 102 and
int. artor Jan. 2 1916 on 60 days' notice. Sinking fund o f 1K % yearly from
1920 to 1924, 2 % from 1925 to 1929 and 2J^% from 1930 to 1934.
E A R N IN G S .— For year ending D e c. 31 1916, gross, $640,744; net (after
$25,574 taxes), $144,471. In 1915, gross. $370,203; net (after $34,113
taxes), $59,860.
R O A D .— Oper. 96 miles o f railway connecting Huntsville, Ogden
Brigham C ity , W ellsville and Logan, U tah, and Preston, Idaho. T he
extension from W ellsville, Utah, via Logan to Preston, Idaho, was placed
In operation In M arch 1915, and the link between W ellsville and Brigham
C ity was com pleted and operation over the whole system begun O ct. 14
1915. C ontracts have been awarded, lt is stated, for extensions from
Ogden to Harrisvllle, U tah, and from H ot Springs to Brigham C ity , U tah,
22 miles. Power Is purchased from the U tah Power & L t. C o.
O F F IC E R S .— Pros., M . S. Browning: 1st V .-P ., L. R . Eccles; 2d V .- P .
Joseph Suow croft; T reas., R . B . Porter; S ec., R oyal Eccles; G en. M gr.
W . A . W hitney.— V . 106, p. 191.
S A L T L A K E & U T A H R A IL R O A D .
O R G A N IZ A T IO N .— Incorp . In M aine In 1912. R oad was form ally
opened between Salt Lake C ity and P rovo the last week o f A ug. 1914,
although trains were placed In operation July 24 1914. Line was extended
to Sprfngvllle In the fall o f 1915 and on to Spanish Fork and Paysonln
Jan. and M a y 1916. Branch from Granger to M agna, a distance o f about
9 miles, was com pleted O ct. 10 1917. Franchises extend to 1960 in Utah
C ounty and in P rovo, to 1962 in Sait Lake C ity and C ounty, to 2010 in
Lehi C ity, Am erican Fork and Pleasant G rove, and to 2012 in Springville
Spanish Fork and Payson; remainder on private right-of-w ay.
m Owns 50% o f tho $150,000 stock (auth. $1,000,000) o f tho Salt Lake
Term inal C o. (V . 101, p. 1371), the other 50% being owned b v tho Salt
Lake & Ogdon R y . (now Bamberger Electric R R .) . T he Term inal C o . is
operated b y thoso tw o com panies under a 50-year lease running to D e c. 31
STO C K A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
C om . stock $3,000,000 ($ 100) ............
$3,000,000 ___________
P ref 7 % c u m $2,000,000 ($ 100) ........
..............
1.980,000 .....................
1st m tgo $10,000,000 g o ld / — —
1914
6 g -----A-O
1.250,000 April 1 1944
($1,000, $500 & $10 0 )- c * t f In t. at First N a t., Bank N . Y ., or C on t. &
’ '
—
R edeem able at 102 & I n t—
C om . T r. & Sav. Bank, C hicago, Trustee.
Salt Lake T erm C o 1st M
1915
6 g J-D
350.000 June 119 3 5
$ 1 ,0 00,000 gold ($ 1,000 In t. at Bankers’ Trust C o ., N . Y .. or Inter$500 & _ $100............c * t f
~
---------- --national T r. C o ., Denver, Trustee.
Bonds.— Remaining bonds m ay be Issued on ly under conservative re
strictions. T ho $1,250,000 bonds outstanding bear 6 % interest; remainder
will boar such rates not exceeding 6 % as m ay be fixed at time o f Issue. Sink
ing fund o f 1 % o f bonds out 1919 to 1923. 1H % 1924 to 1933 and 2 % 1934
to 1943. All bonds m ay bo called at 102 & Int. and replaced b y a like
am ount bearing a lower rate. V . 100, ]3. 230_. T he Salt Lake T erm __ ____
_____ , bonds
aro unconditionally guar., p. & L. Jointly and severally, b y the Salt Lake <
&
U tah R R . and Salt Lako & Ogden R y . (now Bamberger E lectric R R .) .
Callable on any int. date on 35 days’ notice at 102 and int. S in k in g f u n d
1% o f bonds issued from 1920 to 1924; 1 H % in 1925-29. and 2 % in 1930-34.
A dditional bonds m ay bo issued for 8 0% o f cost o f now property or for exts.
and im pts. For description o f bonds and property, see V. 101, p. 1371,
E A R N IN G S .— F or year ending D ec. 31 1917, gross"earnings, $4*78,926;
net, after taxes, $152,034; int. and deproc., $106,978; net incom e, $45,036.
In 1916, gross earnings were $392,347; net, after taxes, $141,580. Interest
and depreciation, $113,292; net incom e, $28,288.
R O A D .— Operates from Salt Lake C ity south to P ayson, about 67 miles,
and a branch lino o f about 9 miles; also about 1 mile o f single track o f the
Salt Laico Terminal C o. tracks in Salt Lake C ity and about 2 miles o f single
rack street railway in P rovo. 75 and 85-lb. rail; standard gauge. -15
intorurban pass, cars, 4 street railway cars, 1 com bination gas m otor car,
2 eloctric locom otives, 3 express and 37 freight cars and 11 service cars.
Power Is purchased under long-tim e contract from Utah Power & Light C o.
O F F IC E R S .— P ros., W . C . Orem; V .-P ., J. G . Berrvhill; V .-P ., Henry
I- M oore; Sec. & T reas., F . M . Orem: A u d ., Joe. R . B row n.— V . 102. p.
438, 801, 2167.
SAN ANTONIO, TEX.
S A N A N T O N IO P U B L I C S E R V I C E C O .
Entire stock ownod by the American Light & Traction C o.
O R G A N IZ A T IO N .— Incorp. in Texas Sept. 6 1917 to take over and
operato tho properties o f tho San A ntonio Gas & Electric C o. and the San
A ntonio Traction C o ., both form erly controlled b y tho Southern Light &
Iraetion C o ., whoso affairs wero wound up. T he new com pany is auth. to
construct a system o f Intorurban electric railways out o f San A ntonio, and
It It reported will build a line between San A ntonio and Austin, abou t 85
mlies.
STO C K A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
S tock, $4,700,000 ($100).....................
................$4,700,000
.
1st & con sol. m ortgage ($ 20 ,( 1917 5 g M -S
2.825,000 SepT Y 1 967
000.000 gold ($1,000)------ /Bankers Trust C o ., N . Y ., Trustee.
San A ntonio T rac $984,000/ 1908
5 M -S
984,000 Sept 1 1949
1st m ortgage g o ld --------------(N ew Y ork Trust C o ., trustee.
San A ntonio Oas & E lectric/ 1908
5 M -S
984.000 Sept 1 1949
$984,000 1 stM g ($500) c*tf\Interest at New Y o ik Trust C o ., trustee.
O f the 1st & consol, m tge. bonds $1,968,000 are reserved to retire under
lying bonds,
llio y aro callablo on any interest dato at 105.
Bonds.— B oth tho San A ntonio T rac. bonds and the San Antonio Gas &
E lec, bonds were Issued to retiro underlying bonds. V. 88, p. 687, Gas &
Elec, bonds aro redeem, at 105 & int. on 6 weeks’ notice. (SeeV. 101, p. 851.)
« 9 ,4 . ~D\vns and operates 88 m . o f single track in city o f San A ntonio,
O F F IC E R S .— Pres., Emerson M cM illin; V .-P ., Philip Lehman; Sec.
& T reas., R . O . Jones.— V. 105. p. 1210; V. 106, p . 191.
SAN DIEGO, CAL.
SAN D IE Q O E L E C T R IC R Y — A trolley road.
O R G A N IZ A T IO N . & c.— Began operation In 1892, and In M a rch 1898
purchased Citizens’ Traction C o. at foreclosure sale. In 1905 sold Its elec
tric power business to a now com pany— the United Light, Fuel & Power C o .
V . 81, p. 559. In 1908 purchased the electric line o f tho C oronad o R R . In
1909 acquired tho South Park & East Side R y . Stock was Increased N o v .
1907 from $500,000 to $5,000,000.
STOCK A N D BONDS—
Date.
Interest. Outstanding. M aturity.
Stock $ 5 ,0 00 ,0 0 0 -........................................................... $1,250.000
Gen 1st lien M $10,000,000/ 1915
5 g J-J
3.812,000 Jan‘ " Y l 9 5 5
gold s f ($ 1,0 00 )_____ c * & r jln t . at Union Trust C o ., San F rancisco,
R ed . at 102 a ft. Jan l 1920 ( trustee, or N at. Bank o f Com m erce, N . Y .
Bonds.— First $5,000,000 bonds bear Interest at 5 % ; rate o f Interest on
remaining $5,000,000 to bo determined at tim e o f issuance, but not to ex
ceed 6 % . Sinking fund provides for retirement o f entire issue at m aturity.
V. 99, p. 122, 1131.
E A R N IN G S .— For years ending June 30:
Year—
Gross.
N et, after Taxes. Oth.Inc.
Deductions. Surplus.
1915-16......... $1,016,405
$291,011
$16,577
$227,227
$80,361
1914-15......... 1.008,693
211,213
9,263
198,043
22,433
116
ELECTRIC RAILW AYS
(Vol. 106
m ay
, 1 9 1 8 .]
ELECTRIC RAILWAY.
R O A D .— Owns and operates railway system In San D iego and Coronado
aggregating 74.04 miles o f track, including 27.02 miles o f second track and
1.24 miles sidings. Standard gauge 60-lb. T rail and 114-lb. T rilb y . Has
generating capacity o f 7.200 k. w .
O F F IC E R S .— Pres., J. D . Sprockets; V .-P . & M a n . D ir., W m . C layton ;
S ec., Claus Spreckles; Gen. Counsel, R oad G . D ilworth; T reas., Claus
Sprockles; Gen. S upt., B . M . W arner; Gen. A u d ., A . II. K ayser.— V. 83,
p. 380; V . 85, p. 1144; V . 99, p. 122, 675, 1131.
SAN FRANCISCO, CAL.
P A C IF IC G A S & E L E C T R IC C O — (See M a p , page 116.)
O R G A N IZ A T IO N .— Incorporated in California on O ct. 10 1905. Owns
in absolute fee the properties form erly owned b y California Gas Sc E lec.
C o rp ., California Central Gas & E lec. C o ., Fresno Gas & E lec. L t . C o .,
V allejo Gas C o ., San Francisco Gas & E lec. C o ., M utual E lec. L t. C o .,
M etropolitan L t. & P ow . C o ., Suburban L t. & P ow . C o . and Los G atos Ic e ,
Gas & E loc. C o .; So. San Francisco L t. & P ow . C o .; Liverm ore W ater &
P ow . C o .; United W ater & Power C o .; Contra C osta E l. L t. & P ow . C o .;
L ive Oak Sc Enclnal L t. & P ow . C o .; E . D . N . Lehe D istributing System ;
Leonard Pryor D istrib. System: Sebastopol L t., W ater & P ow . C o . D . O .:
Gillen, Pacific Gas Im pt. C o ., Edison L t. & P ow . C o ., M ou n t Shasta
P ow . C o. and R edw ood M frs. C o. D istrib. System ; W est Sacramento
E lec. C o.
On A pril 1 1917 took over the public utility properties o f the
Oro Electric C orp. and subsidiaries. Also owns in foe the following com
panies, which were form erly owned b y California Gas & E lectric C orpora
tion :
San M ateo Pow er C o.
B ay Counties Pow er C o.
South Y uba W ater C o.
Berkeley E lectric Lighting C o.
Standard E lectric C o. o f California.
Blue Lakes W ater C o.
Stockton W ater C o.
Central California E lectric C o.
United Gas Sc E lectric C o.
Oakland Gas Light Sc Ileat C o.
Sacramento Electric, Gas & R y . C o. Valley Counties Power C o.
Franchises in over 176 cities and towns, it is claim ed, are perpetual, the
U . S. Supreme C ourt on April 6 1914 having ruled that all franchises o f
public service corporations within the State o f California obtained prior to
O ct. 10 1911, wore o f perpetual duration and could not be altered.
For assessment on stock, see V . 85, p . 163, 725.
In July 1914 the issuance o f $12,500,0001st pref. stock (auth.,$50,000,000)
at $82 50 per share for Im pts., oxts., refunding, & c., was authorized. T he
old p re f. stock ($ 10 ,000,000 auth. and outstanding) becam e 2 d pref. and the
auth. amount o f com . was reduced from $150,000,000 to $100,000,000.
The 2d prof, stock is convertible since July 1 1916 Into 102 )4 % o f lsc prof.
Em ployees o f the com pany and consumers were also given the privilege o f
subscribing for the new stock. See further dotails o f plan, & c., in V . 98,
p . 1846: V . 99, p . 121. In O ct. 1915 subscription prico o f unsold portion
advanced to 8 7 )4 . In Jan. 1916 tho R R . C om m . auth. tho Issuance o f
$2,500,000 additional prof, stock. In M arch 1918 tho C al. ItR . C om m ,
auth. tho co. to sell tho 4,022 shares remaining unsold at $82 50 por share.
V . 106, p. 1462. Subscriptions are now confined to consumers and em
ployees.
Qas Rate D ecision.— On O ct. 9 1917 tho C al. R R . C om m , fixed the rate
for gas in tho c ity at a maximum o f 85 cents per 1,000 cu . ft. T ho co.
had sought to charge a maximum prico o f $1 per 1,000. V . 105, p . 1618.
C om pare V . 98. p . 1609; V . 99. p . 271; V . 101, p. 449.
In O ct. 1917 applied to C al. R R . C om m , for authority to increase gas
rates to an avorago o f 1 2 )4 % over present rates in ali its districts except
San Francisco. V . 105. p . 1618.
Water R a tes— In M a y 1918 was auth. to chargo for water in Placer
C ou n ty a rate o f .$1 25 per m onth for residence consum ption, with a mini
m um chargo o f $1 por meter.
Decision.— For decision granting the Great W estern P ow . C o. permission
to enter tho territory already sorvod b y P ac. Gas & E lec. C o . see V . 94, p.
1764. In N o v . 1916, how ever, the R R . C om m , sustained tho petition o f the
com pany opposing the ontranco o f the Great Western P ow . C o. into a part
o f Contra C osta C ounty where the form er was alroady giving service.
Fuel Conservation.— This com pany, tho Great W estern Power C o . and
tho Sierra Sc San Francisco Powor C o ., serving 38 counties in N orthern
and Central California, have ontered upon an agreomont for the conserva
tion o f fuel oil b y which the com panies steam and electric plants are oper
ated as a singlo unit, this plan to continuo for tho duration o f tho war and
during such further tim o as m ay bo deemed in tho best interests o f tho
public. V. 106, p. 608. This c o ., tho N orthern C alif. Power C o. and tho
C alif.-O regon Power C o. have agreed that power from the Klam ath River
plant shall bo delivered at San Francisco. B ay points, shus conserving
$450,000 worth o f fuol oil annually for tho N a vy. Transmission linos will
bo more than 300 miles In longth. V. 106, p. 1578.
Stock Dividend.— Tho C al. R R . C om m . In M a y 1915 auth. the com pany
to Issue $1,926,558 com m on stock held in treasury to holders o f its com m on
stock as a 6 % d iv . b y w ay o f reimbursement for net earnings applied to the
redem ption o f Its bonds through sinking funds. Paym ent was m ade In tw o
equal installments on July 15 and D oc. 15 1915. V. 100, p . 1919. See also
remarks in annual report. V . 101. p . 299. A pplication to issue $1,021,100
additional com m on stock as a further stock d iv. o f 3 % was denied in April
1916. V. 102, p . 1437.
v
T he C al. R R . C om m , on July 1 1916 approved a stipulation filed b y the
co . In which lt agreod to set aside out o f Income during the next seven years
for conservation o f Its assets aud tho p rotection o f Its stockholders and bond
holders the sum o f $7,000,000. as follows: For the cal. year 1916. $800,000;
1917 to 1921, $1,000,000 yearly; 1922, $1,200,000. T he funds so set aside
are to remain uncapitalized. The com pany m ay apply against tho forc
ing used for acquisition o f Oro E lectric C orp. properties, for funds advanced
to pay o ff underlying bonds and for extensions and Improvements.
In Fob. 1918 tho C al. R R . C om m , refused to grant auth. to issuo $3,
000,000 o f bonds for im p ts., & c., but perm itted tho co . to use $771,348
from past sales o f bonds to roimburso tho troasury for expenditures already
m ado. V. 106, p . 715. Com pare V . 105, p. 2456.
STO C K A N D BONDS—
D ate.
Interest. Outstanding.
Maturity.
C om $100,000,000 ($100)................
Q-J 15
$34,004,058
See text
First pref .$50,000,000 (6 %
cum) ($100)____________ _________
Quar
24,721,992 Feb '18, 1)4
2d prof 6 % cum $ 10,000.0001
($ 100) ......................................] ____
Q -F 15
76.300 Feb T 8 , 1)4
Gen Sc ref M ($150,000,000)7 1911 5g J-J
33,042,000 Jan 1 1942
gold sinking fund (seoiBankers T r. C o ., N . Y ., aud O . Ellinghouso,
t e x t ) --------------------- c*& r*tf I trustees. Int. in N . Y . or San Francisco.
Cal G as& Eloc C orp g o n M Sc I 1903
5 g M -S
4,507.000 M ch 1 1 9 3 3
coll tr $ 10,0 0 0,0 0 0 gold ! Interest at M ercantile Trust C o ., Sas F ra n ($1,000) sinking fu n d .c * t f I cisco. Trustee.
C alif Gas & E loc C orp u n ify’g| 1907
5 g M -N
19,505,000 N o v 1 1937
and refunding m tgo $45,-1 Union T r. C o ., San Fran., T r. Int. at office
000.000 g old ..............c&r t f I o f co .. San Fr., or National C L y C o .,N .Y .
B ay Counties Powor C o 1st M ( 1900
5 g M -S
1.216,000 Sept 1 19 3 0
$2,250,000 gold ($1,000) t f] Interest at M ercantile Trust C o ., San Franl cisco, trustoe, or National C ity C o .,N .Y .
B ay Counties Power C o 2d M J 1901 6 g A-O
533,000 April 1 1931
$750,000 gold ($ l,0 0 0 )_ _ tf (in t . at Union T r. C o ., San Francisco, Trus.
N evada C o E lec 1st M n t f6
A-O
171,000 Oct 119 2 8
Y uba E lec Powor 1st M n t f
6 J -D
179,000 June 1 1929
Cal Central Gas & E loc C o 1901
675,000 A ug 1 1931
5 g F-A
first m ortgago $ 1,000,000 Interest at M ercantile Trust C o ., San Fran
gold ($ 1,000) sink fund n t f
cisco, Trustoe.
Sacramento E lec Gas Sc R y 1897
5 g M-N
2.117,000 Nov 1 1927
first m ortgage $2,600,000 Interest at M ercantile Trust C o ., San F ran.,
gold ($ 1 ,000) ..............c . n t f
or Guaranty Trust C o ., N ew Y ork.
Central Elec R y first m tgo 1892
6 g J-D
114,000 June 1 1918
$400,000 ($1,000 & $500
($25,000 due yearly) to June 1 1922
g o ld ...................
n t f In t. at M ercantile T r. C o ., San Francisco,
or Union Trust C o ., N ow Y ork.
Standard Elec C o 1st M $5,-[.1 8 9 9
...
5 g M -S
2,122.300 Sept 1 1939
000.000 guar prin Sc int b y] In t. at Sav. Un. B k. Sc T r. C o ., 8 . F r., trusCal Gas & Elec C orp — n t f l too, and Crocker N at. B k .. San Francisco.
Blue Lakes W ator 1st m tgof 1893
6 M -S 15
713.000 M ar 15 1938
$5,000,000...................n t f l l n t . paid In N . Y ., 8an Fran, and London.
United Gas Sc E lec C o 1st M l 1902
5 g J-J
1.460,000 July 1 1932
$ 2,000.000g ($ l,0 0 0 )s f.c * tf (M ercantile Trust C o ., San Fran.. Trustee.
117
S T O C K A N D B O N D S—
Date. Interest. Outstanding.
M aturity.
Valley Counties Power C o f 1902 5 g M -N
$1,869,000 M a y 1 1930
first m ortgage $2,500.0001 Interest at M ercantile T rust C o ., San F ran.,
gold ($1,000) sink fu n d , t f (Trustee, or at U . s . M tg e . & T r. C o ., N . Y .
So Y uba W ater C o cons M ( 1893
g J-J
1,488,000 July 1 1923
$1,500,000 g ( $ 1 . 0 0 0 ) - n t f In t. at Farmers’ L . & T r. C o ., N . Y ., trustee.
Cent Cal El C o m tgo $5,000, 1902
6 g M -N
See text
M a y 1 1933
000 gold ($1 .0 0 0 ) ______ t f In t. at M adison Trust C o .. N . Y .. trustee.
Suburban Light & Power 1908
6 F -A
222,000 A ug 1 1938
m tge ($500). N o sinking In t. at o ffice o f com p any. Ashland Bank
fu n d _________________ c * t f !
o f Savings, Oakland, T rustee.
S F G Sc El gen m tge $10. 1903 4)4 g M -N
6.941,000 N o v 1 19 3 3
0 0 0,0 0 0 g ($ 1,000 e a c h ).tf Int. at Union Trust C o ., San F ran., Trustee.
Pac Gas Im pt m tge gold 1900
4 g Q -M
499.000 Sept 1 1930
($ 1,000 each) sink fu n d n tf Interest at Union Trust C o ., San Francisco.
Edison L & P 1st m tge gold 1891
6 g Q-F3
623,000 N o v 1 1921
($1,000 ea ch )__________ n t f Interest at office , San Francisco.
M utual Electric Light C o 1904
5 J-D
183,000 June 1 1934
first m ortgage ($ 1 .0 0 0 )c t f Int. at M ercantile Trust C o ., San F ran., or
, United States M tge .
Trust C o ., N . Y .
M etrop Gas C orp ($ 5 0 0 ).c* tf 1911
5 J-D
1,171,000 D e c 119 4 1
Sinking fund $25,000 per In t. at office o f com pany. M ercantile T ru st
annum.
C o ., San Francisco Trustee.
Liverm ore W at & P ow 1st M
-----6 J -D
20.500 Sept 1 1922
( $ 5 0 0 ) - ................................c
U nion Trust C o ., San F ran., Trustee.
Orovlllo L t & Power ----------C o lsc 1902
------- —
6 F -A
33,000 F e o . 1 1927
M $50,000 ($500)------------clC a lif. Safe D ep. & T r. C o .. San F r., trustee.
S
c
h d o ts f b .
e h lic
t ehnmut eouod rpr da ots nin intaleaoea ths in
hTaasofn p bns eote s u tad g b bv re oe
Sisc.— $31,696,867 com . com panies. Stocktoisamountasreported outstand
toownod b y subsidiary stock In addition pref. to prin. and divs.
k
ing
T he 2d pref. stock is convertible into 1st p ref. stock at the rate o f 1.025
shares o f 1st prof, for each share o f 2d p ref. V . 98, p . 1846. All but $76,300
had been converted as o f A ug. 31 1 9i7.
— O f the $115,143,000 bonds
unissued, $46,328,800 reserved to retire underlying bonds, $68,814,200
for future additions, betterments and improvem ents at 9 0% o f cost under
conservative restrictions. $1,000,000 are in treasury, o f which S875.000
deposited as security for surety bond in rate cases. $815,000 have been can
celed b y sinking fund. D enom .: C oupon, $1,000: registered, $1,000.
$5,000 and $10,000. Interest also payable in L ondon, Berlin, Am sterdam ,
Paris and Geneva at £6.2.9, 105 m arks, 62 guilders or 129.50 francs, re
spectively. R ed. as a whole (but not in part) Jan. 1 1937 or any int. date
thereafter at par and int.; also red. at 105 and int. on any int. date on 60
days’ notice in blocks o f not less than So00,000. Bonds have a sinking
fund o f 1 % per annum o f face amount o f all underlying bonds and bonas or
this issuo. Soo V . 94, p . 351. Listed on N . Y . Stock Exchange. V . 103,
p . 1211; V . lOo, p . 1523.
Rns Gnra ad Rfud g Mr ae
od—e e l n e nin otgg.
CBnsiafGs AE c Cr oa nUify gadRfud gMr ae
aod o a letric opr tio n in n e nin otgg
lifo
rn
5%
1907 are a lien upon all the property and franchises o f the
California Gas & E lectric C orporation now owned or hereafter acquired.
V . 86, p. 1158. T h ey are also a lien (through a supplem entary m tge. exe
cuted b y the P acific Gas & E lectric C o .), prior to the bond Issues o f the
P acific Gas & E lectric C o ., upon all tho properties o f that com pany except
the properties o f tho San Francisco Gas & E lectric C o ., but Includes the
properties o f the California Central Gas
E lectric C o ., Fresno Gas & E lec
tric Lighting C o ., and the V allejo Gas C o ., subject, how ever, to underlying
mortgages o f tho California Central Gas
E lec. T he bonds were Issued
under four heads— “ A ,” “ B ," “ G ” and " D . ” Series " A ” amounts to
$30,282,000. or which $8,203,000 were issued to retire an equal am ount o f
underlying bonds which have been deposited under this m ortgage. Series
" B ’’ amounts to $3,055,000 and were issued at 90 to refund existing ob li
gations. Series “ O ’ and “ D ” aggregate $11,663,000, $9,255,000 o f which
wore issued. M ortgage has been closed to further issue. V . 86, p . 980.
T he bonds are subjoct to call at 110 and interest upon any Interest date after
N o v . 1 1912 upon 60 days’ notice. V . 88, p . 1199. T h e issuance o f addi
tional underlying bonds is prohibited b y terms o f m ortgage. A n agreement
was executed Jan. 21 1908 providing that all California Gas & Eloctric gen.
m tgo. and collateral trust bondholders depositing bonds with M ercantile
Trust C o . o f San Francisco would be entitled to receive an equal am ount o f
unifying and refunding bonds, and In addition an am ount o f com m on stock
o f the P a cific Gas
E lec, equal to 2 5% o f bonds so deposited. V . 86, p .
980. $4,492,000 gen. m tge. and coll, trust bonds were so deposited
Agreement oxplrod F ob. 1 1909. T he m tge. provides that a
be created and maintained as follow s; 1912 to 1916 in cl., $450,000 per
annum; 1917 to 1921 in cl., $550.000p er annum; 1922 to 1926 in cl., $700,000
por annum; 1927 to 1936 in cl., S900.000 per annum . T his
will bo applied as far as necessary toward making tho
paym ents
required b y underlying m ortgages, and the balance to the purchase for the
o f the bonds Issued under the new m ortgage. $1,008,000 un ify
ing and refunding bonds are hold In sinking fund; $51,000 In treasury.
Bonds^are listed^on^Now Y ork Stock Exchange. V . 90. p . 1677: V . 93, p .
S
c
S
c
S
c
s k gfu d
inin n
s k gfu d
inin n
in
s k gfusdk gfu d
inin n in n
lifo t
Gnra 110 a int.
otgg n
CCtea TuinodletricCr oa n$10,000,000underate l Mr and and
oa rrnrF BAsare subjectpto call on any Interest e e atunifyingead
lla l ias s nE c o r tio
d
on four weeks’ notice. $4,492,000 were deposited
the
refunding m tgo. S k g n for 5 years, beginning M arch 1 1904, $150,
inin fu d
000 per annum; from 1909 to 1913, $200,000 per annum; 1914 to 1918.
$250,000 por annum; 1919 to 1923. $.300,000 per annum; 1924 to 1928.
$350,000
ko ..
g
fu dwill por annum;r 1929Esinkingo funds o f the BEay CountiesRsaidCs. Cand
n provide fo tho to 1933, $400,090 per annum. T he Powerinin
California Contral Gas & lec. C ., Sacramento lec. Gas S y . o
c
Valley Countios Power C o ., and Is to be used initially In redeeming the
bonds o t ec n e tc m n s the remainder for the new $10,000,000
f h os n o p ie
titu
a
Issue. T h o bonds rodoemod shall be kept alive and bear Interest except
whore tho m ortgages o f the constituent com panies provide for their cancella
tion; in the event o f tho purchase o f any o f the gen. m tge. and coll, trust
$10,000,000 bonds, these also are to be kept alive; but should any o f the
latter bo called for paym ent at 110, the bonds so called are to bo canceled.
$1,001,000 o f this and $516,000 o f underlying issues are now alive in this
sinking fun d. T ho general m ortgage and collateral trust bonds are secured
b y doposit (now socured b y physical properties o f these com panies which
have been deeded to tho corporation) o f practically all the capital stocks o f
tho subsidiary com panies, nam ely, all o f the 36,000 shares o f B ay Counties
Powor C o .; all o f tho 15.000 shares Calif. C ent. Gas & E loc. C o .; all o f the
30.000 shares o f Oakland Gas L t. & l i t . C o .; 18,581 out o f 18,584 shares o f
Sacramento E loc. Gas & R y . C o .; all o f the 4,898 shares o f Fresno Gas
E l.
L t. C o .; all o f tho 50,000 shares o f the Standard E lec. C o .; all o f the 22,286
shares o f the United Gas Sc E lec. C o ., and all o f the 1,000 shares o f stock o f
tho V allejo Gas C o .; also 39.999 out o f 40.000 shares o f South Y u ba W ater
C o. stock. In addition, the B ay Counties Power C o . owns tho entire
$2,500,000 stock o f the Valloy Counties Power C o ., and the United Gas &
Eloctric C o . owns tho $1,000,000 stock o f the San M a teo Power C o.
$2,250,000
$350,000 are
reserved to retire $179,000 Yu ba Electric Power bonds and $171,000
N evada E lectric Power bonds. A
on the first 5s o f 1% o f
outstanding bonds por annum com m enced in 1905 and ran until June 1
1910, on which date and for four years thereafter 1 )4 % o f bonds ou t; on
June 1 1915 and for four years thereafter 2 % o f bonds out; on June 1 1920
and for four years thereafter 2 )4 % o f bonds out: on June 1 1925 and there
after 3 % o f bonds outstanding. $676,000 o f this issue alive in sinking
fund. T h o second 6s are subject to call at any tim e at 105. $77,000 are
hold In a sinking fund. $135,000 were redeemed Jan. 1 1918.
—A
o f 2 % o f bonds outstanding com m enced on A ug. 1 1902, b ut bonds
are not subject to call. $325,000 bonds are in sinking fund.
— O f the $2,500,000 auth
orized, $115,000 are reserved for Central E lec. R y . firsts; $205,000 bonds
have boon retired. $63,000 alive in sinking fund. B y terms o f a supple
mental m tgo. the right to call all or any o f the bonds at 103 has been re
scinded; but this does not affect the right to retire bonds as follows: From
1902 to 1906, Incl.. $5,000 por annum; 1907 to 1911. in cl., $10,000 per an
num; 1912 to l9 1 6 . Incl.. $20,000 per annum: 1917 to l9 2 1 , Incl., $30,000 per
annum; 1922 to 1926, in cl., $40,000 per annum. T o ta l. $525,000.
— T hey are
uarantood b y California Gas & E loctric C orporation b y endorsem ent.
2.599,000 wore retired under unifying and refunding m tge. o f California
Gas
E loc. C o rp ., $276,700 are alive In sinking fund and $2,000 are de
posited under gen. & ref. m tgo. O f Blue Lakes W ater 1st M . bonds. $12.
000 are In sinking fund.
—
— Interest Is payable at C rocker N a t.
B ank, San Francisco, or M ercantile Trust C o ., N ew Y ork . A
began July 1 1907 o f 2 % o f bonds outstanding for the first 5 years;
S
c
DyCutie PwrC.
a on s o e o
F tMr aeBns
irs otgg o d.—
s k gfu d
inin n
fuClifo iaCn a Gs AE c C. F Mr aeBns s k g
na rn e tr l a letric o irst otgg o d. inin
d
Sca e toE c , GsARilwyC. Bns
ar m letric a a a o od.
n
f
S na E c C. o Clifo ia F t Mr ae Bns
tadrd letric o f a rn irs otgg o d.
S
c
Uite GsAE c C. Bns
n d a letric o o d.
s k gfu d
inin n
ELECTRIC RAILWAYS
118
3 % the next 5 years; 4 % the noxt 5 years; 5 % the next 5 years; and 6 %
per annum thereafter. $510,000 have boen canceled b y sinking fund.
B onds are not subject to call.
are not subject to call. Are guaranteed,
principal and interest, b y B ay Counties Power C o. Listed on San Francisco
Stock Exchange In Juno 1905. V . 80, p . 2625. Com m encing N o v . 1 1905,
and on N o v . I for each succeeding four years, 1% o f aggregate amount of
bonds issued and outstanding is payable to
com m encing N o v . 1
1910 and for succeeding four years, 1 )$ % ; com m encing with N o v . 1 1915.
and for succeeding four years. 2 % ; com m encing with N o v . 1 1920 and for
succeeding four years, 2)S % : com m encing with N o v . 1 1925 and for suc
ceeding four years. 3 % . S637.000 bonds now hold In sinking fund.
— Consolidated m ortgage callable at 110 and Inter
est. $12,000 in sinking fund.
— $848,000 are deposited under unifying
and refunding m ortgage and $1,000 under general and refunding m ortgage:
$1,000 in treasury. Callable at 110 and interest.
— $28,000 held alive In allied com panies’
sinking funds.
N os. 1 to 4,000,
inclusive, are subject to call $100,000 yearly N o v . 1 at 105, b y lot, beginning
N o v . 1 1906. $1,200,000 have been canceled, $115,000 are hold alive In
sinking fund o f alliod com panies and $105,000 retired under gen. & ref. m tge.
M ortgage closed; no m ore bonds can be issued for any purpose.
m ortgage has a sinking fund o f $20,000 annu
ally. $368,000 have been canceled, $321,000 retired under gen. & ref. m tge.
and $62,000 alive in allied com panies’ sinking fund.
have sinking fund o f 2V4% per annum
o f bonds issued and out; $57,000 have been canceled and $10,000 are held
in sinking fund.
bonds aro red. at par and lnt. on any int
date.
$25,000 yearly; $47,000 in sinking fund and $150,000
have been canceled.
— O f these, $78,000 in
sinking fund.
1st
6%
— $13,000
are held In treasury.
Sinking Funds.— T otal cash and bonds in all sinking funds o f P acific Gas
& Electric C o. and subsidiary companies D ec. 31 1917, $11,216,904.
Dividends.— First on original (now 2d) pref. ($1 >4) was paid April 15
1906; none after that to A ug. 2 1909, when $4,992,100 com . stock and $2,
660 cash was given in settlement o f cum . d ivs. am ounting to 2 0 % . Stock
holders wore offered and accepted 1 sharo o f com . in lieu o f accum . dlvs. on
each 2 shares o f p ref. V . 89. p. 104. In N ov . 1909. 1 )4 % . In 1910,
F e b ., 1)4 % (V . 90, p . 237), and tho same rate has been paid quarterly since
to and inch F ob. 1918. Initial d iv ., 1 )4 % , was paid on tho now 1st pref.
stock N o v . 1914; same rato paid quar. since. On N o v . 22 1911 directors
authorized the lssuanco o f $10,000,000 fully paid (out o f accum . surplus)
com m on stock (o f which $9,979,900 issuod) to com m on stockholders in
proportion o f )4 sharo o f new stock for each whole share o f old sto c k . V . 93,
p . 1453. Initial cash d iv . on com .— 1 M % — paid April 1912; July. 1 )4 % ;
O c t., 1 )4 % . In 1913, Jan ., 1 )4 % : April 1, 1 )4 % . N ono to April 1916,
when 1 )4 % was again paid; same rate paid quar. to and Incl. O ct. 1917.
Jan. 1918 d iv. om itted (V . 106, p . 86. 190). In 1915 paid a 6 % stock divi
dend on tho com m on stock in 2 equal installments on July 15 and D e c. 15.
K E P O R T .— For calendar years:
Vlle Cutie PwrC. Bns
a y on s o e o o d
s k gfu d
inin n ,
Su Yb W rC.
oth ua a o
te
Cn a Clifo ia E c C.
e tr l a rn letric o
Sbr a L h APwr C.
uubn igt o e o
SnF nisoCsAE c C.Gnr lMr aeBns
a ra c c a letric o e ea otgg od
Pc GsImr vmnC.
aific a poe e t o
Mtul E c L h C. Bns
u a letric ig t o od
M Soin fusCr oa n
e plita G d opr tio
troin n a
kg n
L emr We APwr F Mr aeBns
ivr oe a r o e irst otgg o d.
t
Ov L h APwrC. Me S k gF n Bns
r ille ig t o e o tg. inin u d od.
o
Cl.r. Oeneg Te.,Dpr c Intm. Dnt,Inc Didrres Camn
a eea . a e
re
Ya Rvrus Nt(a .,A. Oee B d A. P fend B l.fo .
e p tin x fte chr isc t., iv e d. o o
o o'
mr
1917-$19,813,381 $6,958,690 $508,347 $4,285,957 $1,471,105 $1,709,975
1 9 1 6 . 18,615,497 7.806,616
509,886
4,018,120 1,374,638 2,923,744
1 9 1 5 - 18,530,301 7.944,708
413,879
4,145,821 1,000,717 3,212.049
P R O P E R T Y .— D oes tho gas and electric lighting, heating and power
business and sells water for power, irrigation and dom ostic purooses in
Central California, including the cities o f San Francisco, Oakland, Sacra
m ento. San Joso and 174 other com m unities. Operations extend Into 32
counties, com prising an area o f 37,775 square miles, containing a population
in 1917 o f 1,803,108. System Includes 17 hydro-electric and steam gen
erating stations with 270,643 h.p . capacity, 1.640 miles o f transmission
lines with 4,500 miles o f distribution lines and 112.5 miles o f underground
distribution; 70 reservoirs with storage capacity o f 6,398.176,773 cu. ft.,
18 gas plants, 2,876.6 miles o f mains, supplying 53 com m unities. N um ber
o f consumers D ec. 31 1917, gas, 450,657; electric, 194,374; water, 12,655;
steam , 446: total, 450,657;
43.9
Owns 66 cars. Passengers carried in 1917, 10,616,953,
against 10,044,428 in 1916.
In N o v . 1913 tho first plant (Drum N o . 1) o f the com prehensive South
Yu ba systom o f hydro-electric plants was put in successful operation. T he
systom contem plates an ultimate developm ent o f 190.000 n. p ., or which
Drum N o . 1 plant has a peak capacity o f 33,000 h. p . See V . 97, p . 1584.
T h e Halsey and W ise power houses, with 33,333 h. p . capacity, were com
pleted early in 1917 and later in the same year tho Spaulding plant w ith'a
5,027 h.p . capacity was com pleted. Early in 1916 com pleted the installa
tion o f two submarine cables across San Francisco B ay to deliver current
to San Francisco, & c., from tho large water-power plants in the mountains,
to supplement the output o f the com pany’s other plants. V . 102, p . 801.
O F F IC E R S .— Pres., F . G . D rum ; V .-P . & G en. M g r., John A . B ritton;
V .-P . & T reas., A . F. H ockenbeam er; Sec. & A sst. T reas., D . H . F ooto:
A sst. S ec., Chas. L . Barrett.— V . 106, p. 86, 190. 396, 608, 715, 925, 1462,
1578, 2011, 2123.
e tir s etra a ss m f Sca e to
n e tre ilwy yte o ar m ,
n
m s o tr c.
ile f ak
C A L IF O R N IA S T R E E T C A B L E .
F nh e
ra c is
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
O R G A N IZ A T IO N .— Chartered F ob. 8 1877. Annual m eeting the third
W ednesday in January.
expires in F ob. 1929.
STOCK A N D BON DS—
M on th ly $1,000,000
See toxt
Stock (par $100)______ _____ - ____
First m ortgago $384,000 ($1.-7 1915
6 g J-J
309,000
Serially
000) red 1st 5 yrs at 105,{I n t . at o ffice o f com pany. Union Trust C o .
thereafter at 103__________ [ o f San Francisco. Trustee.
— $384,000 bonds wore issued to retire $900,000 bonds due Jan. 1
1915 (o f which $516,000 wore in treasury, leaving $384,000 to be refunded).
T ho now bonds are duo in 12 annual Installments beginning Jan. 1 1916 and
ending Jan. 1 1927. $75,000 have been retired. N o. o f bonds maturing
in 1919 is 27. then successively thereafter, 29, 30, 32. 33, 37. 39, and in
1927, 46 •V . 99, p . 1831, 1672. 1596.
Dividends wore 50 cents m onthly, but In A ug. 1902 were increased to 75
cents m onthly, and In N o v . 1904 to 90 cents m onthly. On account o f
earthquake and fire, no dividends were paid from April 1906 to Sept. 1908,
when dividends were resumed at 50 conts per share up to M a y 1909. when
60c. per share was paid: same rate m onthly since.
E A R N IN G S .— F or cal. years 1917 and 1916 and years ending June 30:
Bns
o d.
Ya
er
—
Gos Nt, a Txs O.In. Ddc n.
r s. e ft. ae. th c eutios
S rp s
u lu.
1 9 1 7 ................... $460,067
$175,408 D r.$ 2 1 ,100
$25,000
$129,308
1 9 1 6 _________ 393,507
120,838
D r.21,600
25,000
74,238
1915-16 ............. 431,236
153,725
12,762
23.478
143,009
1914-15 ............. 425,591
150.096
35,741
38,027
147,810
R O A D .— Operates 11 miles o f track on 5 H miles o f street.
O F F IC E R S .— Pres., J. Henry M eyer; V .-P ., J. O . Colem an; 2d V .- P „
Jas. W . Harris: S ec., G eo. A . Hare; T reas., J. H . M eyer & C o .; S u p t., J. W .
Harris. O ffice, 1061 H yde S t., San Francisco, C al.— V . 99, p . 1831.
U N IT E D R A I L W A Y S IN V E S T M E N T C O .
O R G A N IZ A T IO N .— Incorporated in N ew Jersey Fob. 17 1902. In
Sept. 1906 filed an amendment to its charter changing its namo from United
Railways In v . C o.
to Its present title. V . 83, p . 689.
Owns directly or Indirectly through stock ownership all the outstandibg
com m on and pref. stock and $163,900 o f tho 7 % prior preference stock o f
the California R y . & Power C o. A lso owns the stock o f The Railroads &
Power Developm ent C o. V. 89, p . 287, 529, 848.
On M a y 6 1910 shareholders approved a plan (V . 90, p . 1103) to increase
com m on stock from $25,000,000 to $31,000,000 and to issue $6,000,000 6 %
bonds, convertible into com m on stock at par, and also authorized directors
to utilize a portion o f unissued pref. stock to adjust arrears o f dividends
accrued or to accrue on outstanding p ref. up to and including O ct. 1 1911.
V . 90, p. 1103, 1240. 1297.
— In F eb. 1906 acquired $21,000,000
o f the com m on stock o f the Philadelphia C o. o f Pittsburgh, giving $37 50
in new collateral trust bonds and $20 in com m on stock o f tho Invest
m ent C o. for each $50 sharo o f tho Philadelphia C o. Soe V. 82. p. 393,
988. For statement m ado in listing these bonds on tho Philadelphia Stock
Exchange, see V . 83, p. 1235. N ow owns $24,555,000 Phlla. C o. com . stk.
— Under the agreement o f
April 24 1917 between the C alif. R y . & Pow . C o. and tho reorg. com m ittee
or the United R R s. o f San Francisco, the Investm ent C o. is to receive it
own $790,000 6 % bonds o f 1910 in exchange for certain prom issory notes o f
o SnF niso
f a rac c
Aq is noPilae h Cmay
c u itio f h dlp ia o pn.
Rogn a no Uite Rs o SnF niso
er aiztio f n d R. f a ra c c .
[V o l . 1 0 6
the United R R s. Against the $1,000,000 4-year notes shown in the table
below , the com pany holds $1,000,000 “ notes receivable-U nited R R s. o f
San F ra n .” Tho com pany has started a reserve account and put aside
$714,803 to apply toward the reduction o f the loss sustained through the
United R R s . See that com pany below .
STOCK A N D BONDS—
Date.
Interest. Outstanding. L astD iv.A c.s
$20,400,000
C om m on $31,000,000 ($100)..............................................................
„
Pref 5 % cum from A pr 1 1 9 0 2 1 .................................. 16,000,000 Jan '07. 2 )*
In scrip
S25.000.000 ($100).............. j
P ref stock d iv certificates..................
See text
1,462,500 -------- --------1st lion collateral trust m tge 1906
5 g M -N
16,337,000 M a y 1 1926
$20,250,000 gold ($1,000) Int. at Guar. Trust & Safe D o p . C o ., P hila..
sinking f u n d . . . ................ c*
or N . Y . Trust C o ., N . Y ., Trustee.
C onv bonds $6,000,000 g o ld / 1910
6 F-A
790,000 Juno 1 1930
Central Trust C o ., N . Y ., trustee.
($ 1 ,0 0 0 )________ _________
Four-year gold notes..........— 1917
5%
1,000,000 Feb 1 1921
Bonds.— The coll, trust bonds are secured b y deposit o f all acquired co m
m on stock o f the Phila. C o . except 7,100 shares. T h ey aro subj. to call on
any int. date at 105 and Int. A sinking fund o f 1 % per annum o f bonds ou t
standing bogan M a y 1 1911, said fund to be invested in the bonds at
not m oro than 105 & lnt. T he amount reported outstanding as above ex
cludes $1,813,000 held b y trustee in sink. fund. Authorized amount o f
bonds m ay bo increased for purchase o f additional shares o f com . stock o f
Phila. C o . Bonds are listed on N . Y . & Phila. Stock Exchanges. V . 90,
p . 169, 172. C onvertible bonds are convertible into com m on stock at par.
N o interest has accrued on these bonds since F eb. 11917. See remarks above.
Stock.— T he proforrecl stock can be retired at 110. $1,000,000 o f the
pref. stock out bears divs. from Sept. 1 1909.
Pref. Stock D iv. Certificates.— O f the $1,462,500 outstanding, $712,500
bear int. at rate o f 6 % and $750,000 at 5 % .
o i, p. lOU/;, April,
yn— uwiug i»u mu uainmutuiu emu iu u , iuia uiviuuuu
was paid in intorest-bearing scrip instead o f cash. V . 82, p . 988. In July
1906 another scrip dividond o f 2)$ % paid (V . 82, p . 1381). and in Jan. '07
another o f tho same am ount; July '07 dividend passed altogether. V . 84,
p. 1429. N on e since.
R E P O R T .— Fiscal year ending June 30 (1917 report V . 105, p. 1516):
O th er
T o ta l
" In terest on
B a la n c e ,
Year
Divs. Rec'd
In com e. E xp en ses.
B o n d s ,A c .
S u r p lu s .
Ending—
on Stocks.
June
30 1917......... $1,718,850 $172,733 $84,441 $1,092,339 $7M ,803
175.541
73.743
1,115,321
577,162
June
30 1916......... 1,590,685
165,038
77,737
1,182,169
489,920
Juno
30 1915......... 1,584,788
_________________________ 140.511
80,012
1,147,977
721,209
D ec.
311914......... 1.808.688
T h e surplus for 1916-17, as above, $714,803, was set asldo as a provision
toward losses sustained through investment in United R R s . o f San Fran.
O F F IC E R S .— Pres., M ason B . Starring; V .-P s., F . B . Van Vorst and
E bon Richards: T reas., B . S. Guinness, N . Y .: Sec. & Asst. T reas., M . V . R .
W oyant; A ud. & Asst. Sec., P . M . Hoskins.— V . 103, p. 1302, 1509, 1790.
1900, 2012: V . 105, p . 717. 1421, 1516.)
(1) T h e R a ilro a d s & P o w e r D e v e lo p m e n t C o.
O R G A N IZ A T IO N .— Incoroorated in M aine on June 9 1909 w ith nomlna
($1,000) capital stock, which has since been increased to $6,000,000 ($ 1 0 0 ),
o f which $5,501,000 is outstanding. All stock (except directors’ shares) Is
owned by United R ys. Invest. C o. (V . 88. p . l 3 l4 . 1129). In D ec. 1912 d is
posed o f its holdings In tho San Francisco Electric Itys., Sierra & San F ra n .
Power C o . and Coast Valley Gas & Elec. C o . to tho California R y . & P ow .
C o . Owns am ong other Investments $163,900 prior preference, $1,740,000
prof, and $5,836,000 com m on stock o f tho C al. R y . & Power C o.
O F F IC E R S .— Pres., M ason B . Starring; V .-P ., H . J. B ow doln; Sec. &
Treas., P . M . H oskins.— V .188. p . 629 . 847; V . 90. p . 1364.
(2) C a lifo r n ia R a ilw a y & P ow er C o .
All the com m on and prer. stock issued is owned or controlled b y the United
R y s. Investm ent C o.
O R G A N IZ A T IO N .— Incorp. In Delaware on D ec. 18 1912 to take over
and hold the entire outstanding 1st p ref., pref. and com m on stocks o f United
R R s . o f San Francisco, and the entire outstanding stocks (except director’s
qualifying shares) o f the San Francisco Electric R y s ., Sierra & San Francisco
Power C o . and Coast Valleys Gas & E lectric C o . These securities had pre
viously been held b y the United R ys. Invest. C o . and Tho Railroads & P ow D ovel. C o . Also owns $1,925,000 7 % notes o f the United R R s. o f San Fran.
N o Interest has accrued on these notes since D ec. 15 1916. On D ec. 14
1917 tho com pany brought suit against the United R R s. for recovery o f
principal and interest.
R e o r g a n iz a tio n o f U n ite d
o f S a n F r a n c i s c o . — Seo that co . below.
STOCK—
A u th o r i z e d . O u ts ta n d in g .
L a st D i v .
C om m on stock ..................................... $45,000,000 $40,000,000 -------------------Pref. stock, 7 % cu m ., red. at $115. 10,000,000
6,874,400 June T 4 . 2 %
Prior preference 7 % cum ulative___ 5.000.000
2,800,000 See text
Prior pref. stock Is red. at $115 a share except the first $3,000,000, which
will be retired through a cum ulative sinking fund $100,000 yearly on Jan. 1
1914 to 1917 and S260.000 annually thereafter. $100,000 was redeemed In
cash Jan. 2 1914 (V . 97. p. 1820. 1662) and $100,000 Jan. 2 1915 (V . 100.
p . 63). N one redeemed since.
A dditional! prior pref. stock m ay be
Issued only for additions, betterm ents, acquisitions, & c. N o m ortgage or
other Incumbrance m ay be created that does not provide for the cancella
tion o f all prior pref. stock then outstanding. V . 96. p . 61.
R E P O R T .— For years ending June 30 (1917 report in V . 105, p . 1416):
Rs
R.
F is c a l
Y ea r—
T o ta l
In com e.
N et
In com e.
P r e v io u s
S u r p lu s .
T o ta l f o r P r i o r P r e f .
D iv s . D iv id e n d s .
T o ta l
S u r p lu s .
$4,558
1916-17____ $92,425 $18,544 $14,014 $32,558 (1 % )$28.000
43,633 210,014 (7 % ) 196,000
14,014
1915-16____ 203,328 166,381
- i 4 -1 5 ____141,268
115.937 243,133 (7% )19 9 ,5 0 0
43,633
191 s - i o ____ i-ti.z o o 127,196
Dividends.— First d iv . on prior pref. stock— 1 l % — paid April 1 1913:
A
same rate quarterly to and incl. July 1916. In O ct. 1916 paid only 1 % .
N one since. V. 105. p. 1416. In Sept. 1913 a dividend o f 3 M % was
paid on tho preferred stock. In June 1914 2 % was paid.
O F F IC E R S .— Pres., M ason B . Starring; V .-P s., G . de B . Greone and
S. H . M arch; T reas., B . S. Guinness; Sec. & A sst. Treas.. P . M . Hoskins;
Asst. S ec., O . H . M ann .— V . 104, p . 1263, 2010, V . 105, p. 1308, 1416,
1418, 2542.
( а ) S an F ra n c is co E le c tr ic R a ilw a y s.
Entire stock is owned b y California R y . & Power C o.
L e a s e . — In 1910 road was leased to the United R R s. o f San F rancisco,
which see below . Lease provides for all chargos, Incl. lnt. and sink, fund
on bonds. Lessee guar. prin. & int. on 1st m tge. bonds. V . 91, P -4 6 4 .
O R G A N IZ A T IO N .— Incorporated in 1909 for purpose o f acquiring and
operating other street railways in San Francisco. V . 88, p. 1129, 1314.
In July 1909 acquired tho Parkside Elec. R y . C o . (V . 89, p . 287) and also
the Visltacion Valley Elec. R R . V . 89, p. 629. Owns $9,997,500 co m
mon stock o f United R R s. o f San Francisco.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y
Stock $10,000,000 ($ 1 0 0 ).------------------------ $10,000,000 .....................
First m ortgago $10,000,000/ 1909
5
1,416,000
D ec. 1934
gu p Si i by U R R s o f S F ..{ U n io n Trust C o ., San Francisco, Trustee.
O f the bonds reported outstanding, $351,000 are in sinking fund
O F F IC E R S .— Pres., G eo. K . Ford; V .-P ., John A . Tyreil; T reas.,
J. F . Forbes; S ec., B yington F ord.— V . 91. p. 464; V . 95, p . 1609, 2011.
(б) S ierra & San F ra n c is co P o w e r C o.
Stock Is owned by the California R y. & Power C o .
O R G A N IZ A T IO N .— Incorporated In California on M a y 29 1909 and on
Sept. 1 1909 took over the Stanislaus E lec. P ow . C o. and tho Tuolum ne
W ater Power C o ., both foreclosed per plan in V. 88. p. 235, 6 69.1005. 1066.
n a s contract extending to 1954 with United R R s. o f San Fran, to supply
power to that com pany. In O ct. 1917 purchased tho LaGrange division
o f the Y osem lte Power C o . for $450,000 and cost o f additions and better
ments from D ec. 1916. V . 105, p. 1528.
In 1910 reclassified its bonded debt as given below. V . 91, p. 342.
V a lu a tio n A s k e d . — In M arch 1918 asked the Cal. R R . C om m , to investi
gate tho co's property value and to fix water and electricity rates. V . 106,
p. 1349.
T he construction and enlargement o f reservoirs and ditches, involving
an expenditure o f $5,000,000, is contem plated. For details, see V . 105,
p. 1999.
In M arch 1918 applied to the Cal. R R . C om m , for auth. to issuo $ 1 .
000,000 1st M . 5 % bonds for additions and betterin’ts. V. 106, p . 1349.
F u e l C o n s e r v a tio n . — See Pacific Gas & Electric C o . abovo.
S T O C K A N D B ON DS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $20,000,000 ($100)
$20,000,000
-----
1st M $30,000,000 g ($1,000./ 1909.....5 g F -A
7,500,000 Aug--- 119 4 9
$5,000, & c)..............c*& r*tf\ Int.at U .S .M tge.& T r C o .. N . Y ., Trustee.
2d m tge Ser A & B $9,500,000/ 1909
5-6 J-J
9,600,000 Jan. 1 1949
($ 1 ,0 0 0 ).................... ........ c*\CoIumbia Trust C o .. N ew Y ork, Trustee.
Ma y . 1918.]
ELECTRIC RAILWAYS
B n s — First mtge. bonds are subject to call on any Int. date at 110 and
od.
Jnt. The remaining bonds may bo Issued at 8 0 % of cost of extensions and
add’
ns, provided not earnings for previous 12 mos. shall equal twice lnt.
charge on a l outstanding bonds, l cl. those to bo Issued. V. 91, p. 157.
l
n
The bonds are listed on the N. Y. Stock Exch. Second mtge. consists of
Series “A ” $1,000,000. at 6%. and Series “B ” $8,500,000 ( n l 337,000 in
ic.
treas.), at 5%. Int. on Series “B ” bonds was payable at option of comany from July 1 1910 to and i c . Jan. 1916 in additional Series “B ” bonds
nl
ilieu of cash, and was so paid. July 1 1916 and subsequent lnt. has been
paid In cash.
EARNINGS.—
G ro ss
N e t ( fte r
a
O ther
I n te r e s t o n
B a la n c e ,
12 M o s . e n d in g —
E a r n in g s .
T a x es).
I n c o m e . B o n d s , & c . S u r p lu s .
Dec. 31 1917......$1,550,219 ---- 3942,725--- $868,112
374,613
June 30 1917...... 1,438,047 972,147
30,087
845,593
156,641
Juno 30 1916...... 1,364,853 915,192
59,110
806,487
167,815
P r o p e r t y . — Owns and operates water-powor properties near San Francisco
and a supplementary steam station in that city, which have a combined ca
pacity or 85,489 h.p.
OFFICERS.— Pros. & Gen. Mgr., I . F. Jackson, San Francisco; V.-Ps..
I
J. K. Moffitt. San Francisco, and P. M. Ilosldns, N. Y.; Sec. & Treas.,
F. J. Blanchard, San Francisco— V. 104, p. 169; V. 105. p. 1004, 1113,
1416, 1423, 1528, 1622, 1999; V. 106, p. 612, 1349.
( ) Coast Valleys Gas & Electric Co.
c
Stock i owned by California Ity. & Power Co.
s
O R G A N I Z A T I O N . — Incorporated on March 20 1912 In California.
Acquired the properties of tho Monterey Gas & Electric Co., the Monterey
County Gas & Electric Co., tho Salinas Valley Water Co. and the King
City Water, Light & Power Co., and owns a l stock of tho Monteroy
l
& Pacific Grovo RR. Does ontiro electric and gas business In M o n
teroy, Salinas and Pacific Grove; also owns water system of Salinas and
electric distributing lines In Salinas Valley and elec. & water system at King
City. Also owns 372,000 Monteroy & Pacific Grovo RR. 1st 6s, there being
3300.000 auth., of which 318,000 are In sinking fund and 812,000 in
treasury. Jan. 1 1916 and subsequent coupons on Monteroy & Pacific Grove
bonds ($198,000 in hands of public) aro In default. V. 100, p. 229. A pro
tective committee, with Carter Pomeroy as Chairman, has been appointed.
V. 100, p. 398.
,
In April 1915 Cal. RR. Co m m . auth. company to Issue 310,000 bonds for
exts. Theso are not included In table. C o m m , stated I would reconsider
t
the application to issue 3100,000 bonds when the question of the company’
s
liability as to tho $300,000 Monteroy & Pacific Grove Ry. bonds undor guar
anty given by Montorey County Gas & Elec. Co. has been determined.
V. 100. p. 1440.
STOCK A N D BONDS—
D t . I trs. O t t n i g M t r t .
ae
n eet
usadn. auiy
C o m m o n S3,000,000 (3100).... ............
33.000,000 .........
Prof 32,000,000 (3100) 7 % \ ............
2.000,000 .........
cum from July 1 '12; rod 110/
First M 310.000,000 goldf 1912
6 g M-S
900,000 Mar 1 1952
(31,000) ann sk fd of l%j Interost at Mercantile Trust Co., San Fran..
of bonds out beg Mar "18 c*( Trustee, or U. S. Mtge. & Tr. Co , N. Y.
B o n d s . — Remaining bonds aro for additions and extensions at 80% of
cost, under restrictions. Bonds aro redeemable, a l or any, on any Interest
l
date at 105 and lnt. V. 94. p. 1249.
N e t (a fte r
O ther
B on d
B a la n c e ,
EARNINGS—
G ross
T a x es).
In com e.
I n t .. A c .
S u r p lu s .
Y e a r s e n d in g —
E a r n in g s .
S79.855 $1,267
$58,315
$20,273
Dec. 311917..... $294,583
92,709
857
59,440
34,216
Juno 30 1917... 270,914
95.475
683
59,500
36,685
Juno 30 1916... 249,417
OFFICERS.— Pres. & Gen. Mgr., I . F. Jackson, San Francisco; V.-P.,
I
P. M. Hoskins, N. Y., and Warren Gregory, San Francisco; Sec. & Treas.,
F. J. Blanchard, San Fran.— V. 101, p. 1373. 1467; V. 103, p. 1304; V. 105,
p. 1416, 1423.
(d) United Railroads of San Francisco.— Trolloy.
Incorporated in California on March 4 1902 and charter amondod March
29 1902. Has acquired tho following stocks:
E
S h a res
N a m e o f C om pany—
A c q u ir e d .
Market Street Railway Co------------------- 186,169.il
Sutter Street Railway C o --------------------- 20,000
Sutro Railroad C o -------------------------- 23,066
Sau Fran. & San Mateo Eloctrlc Ry. C o --------- 10,000
Par
V a lu e .
$100
100
io
100
239.235.11
On March 5 1909 filed a cortlflcato of decrease in common stock from
$20,000,000 to 318,800,000, tho United Ry. Invostmont Co. having
surrendered 12,000 shares for cancellation. V. 88. p. 1314.
Tho San Fran. Elec. Rys. has acqulrod $9,997,500 of com. stock of
Un. RR. of S. F.; $7,950,000 of tho common stock and a l tho prof, are
l
owned by tho California Ry. & Power Co.
United RRs. of San Fran. In 1910 leased the San Fran. Elec. Rys. See
that company above and V. 91, p. 46. Also loasos Gough Stroot RR.
D e fa u lt — R e o r g a n iz a tio n . — In view of the unsettled conditions surround
ing maturing underlying bonds and reorganization plans, tho Oct. 1 1916
and subsequent interest on tho company’ $23,854,000 4 % bonds has not
s
been paid (V. 103. p. 1303). A sufficient number of bonds having been de
posited thereunder, tho amended plan of reorganization dated April 26
1917 was declared operative Juno 2 1917. The plan, i carried out, will
f
reduce tho total capitalization from 384,039,100 to 347,722,000, and
provides that a l of tho physical properties, franchises, bonds and stock
l
owned by the United Railroads and a l of tho physical properties, franchisee
l
and bonds owned by tho San Francisco Eloctrlc ltys., bo transferred to the
present Market St. Ry. Co. (incorp. Oct. 13 1893) or other successor com
pany. Tho holders of tho unsecured notos and stock of United RRs. aro
required to purchase, at par, 33,000,000 of Market Street Ry. Co. 5 %
bonds (secured by i s 317,500,000 First Consol. Mtgo. of 1894, duo Sept. 1
t
1924), tho proceeds of which, together with income accumulated ponding
reorganization (
ost. at 51,880,000 prior to April 1 1918) and proceeds from
salo of some non-oporatlvo property, &c. ($320,000), will be applied toward
payment of the $5,200,000 divisional bonds maturing In 1916 and 1918.
The following securities will bo Issued by tho successor co.:
1st proforrod stock, 6 % cum. after Apr. 1 1924 (par $100)--- $1,958,000
2d preferred stock, 6 % cum. after Apr. 1 1924 (par $100)--- 6,000,000
C o m m o n stock (par $100)____ ______ _____ ______ ______ 14,000.000
Additional 5 % Consol. Mtge. bonds of tho $17,500,000 lssuo of
1894, duo 1924, to bo lssuod at par to provido for payment of
underlying bonds (making total outstanding $10,098,000)—
3,000,000
Now 6 % 20-yoar gold bonds, total auth. $35,000,000, of which
$9,236,000 will be reserved for futuro add’ exts., refund
ns,
ing of bonds, &c., and $10,098,000 to rotlro Market St. Ry.
bonds ( n l $3,000,000 to be issuod under plan). To bo
ic.
Issued immediately to U. RR. 4 % bondholders, together
with $1,958,000 1st pref. and $7,756,000 common stock___ 16,660,000
As part consideration for tho securities mentioned In tho foregoing para
graph, there will bo obtained tho roloaso of tho United RRs. from tho obli
gations of tho 7 % notos, 6 % notes and 5 % notes, aggregating $3,665,000,
to tho end that tho successor co. may not. In any contingency, bo liable on
account thereof, and at tho same time there shall bo surronderod notos of
Tho Railroads and Power Development Co., aggregating $901,385. and dobentures of tho United Rys. Invest. Co. aggregating $790,000
The basis of readjustment under the amonded plan i as follows:
s
(a) Tho prosont $7,098,000 Market St. Ry. 5 % bonds outstanding ( n l
ic.
$46,000 In treasury of United RRs.) aro to remain undisturbed.
(b) Holders of tho United RRs. i will recoivo 66 2-3% ($15,666,000) of
s
tho faco valuo of thoir prosont bonds plus coupons overdue, in now 20-yoar
6 % bonds; 8 1-3% ($1,958,000) in 1st pref. stock and 3 3 % ($7,756,000)
In common stock of tho successor co. ( The $5,200,000 divisional bonds
c)
maturing in 1916 and 1918 will be providod for as statod abovo. (d) Tho
noteholders and stockholders of the United RRs. will recoivo tho $6,000,000
2d pref. stock and $6,244,000 com. stock of tho successor co.: ( ) for tho
a
cancellation of tho 33,665,000 notes; (b) In satisfaction of tho equities In
and claims against tho properties now hold by the holders of tho entire
capital stock of tho United RRs., viz.: (l) tho $5,000,000 f r t prof, stock
is
and for $1,137,500 accrued dividends; ( tho $20,000,000 prof, stock and
2)
$8,600,000 accrued dividends thereon; (3) tho $17,948,600 common stock.
As part of tho settlement tho $790,000 bonds of tho United Railways Invost.
Co. and $901,385 notos of tho Railroads & Powor Develop. Co. wi l bo
l
canceled and surrendered to tho Junior security holders.
Annual Interest charges under plan will bo $1,444,860. For further
details see V. 104, p. 1703, 2012.
119
R e o r g a n iz a tio n C o m m itte e . — Frank B. Anderson, Chairman; William H.
Crocker. Herbert Flelshhacker, I W. neltman Jr., and John D. McKee,
.
with office at 901 Alaska Commercial Bldg., San Francisco, and Pillsbury.
Madison & Sutro of San Francisco as counsel.
D e p o s i t a r ie s f o r U n ite d R R s. 4s.— Union Trust Co., Market St. and Grant
Ave.. San Francisco, and as I s agents. Guaranty Trust Co. and Equitable
t
Trust Co., N. Y. City. Certificates of deposit have been listed on tho
N. Y. Stock Exchange.
N e w Y o r k C o m m itte e . — Chairman, John Henry H a m m o n d of Brown
Bros. & Co.; Sec., Morrell W. Gaines, 59 Wall St., N. Y. C. Depositaries,
Union Trust Co., N. Y. C.; Girard Trust Co., Phila.; Mercantile Tr. &
Dep. Co., Balt. Brown, Shipley & Co., Founders Court, Lothbury,
London, E. C., will act as sub-depositary for foreign holders. See V.
104. p. 1703.
On Dec. 26 1916 suit was brought to foreclose the mortgage securing tho
$1,800,000 Market St. Cable Ry. bonds due Oct. 15 1916. V. 104, p. 73.
Tho bonds have been purchased at par by a syndicate which has also pur
chased at par the Ferries & Cliff House 6s due Dec. 31 1916. In Mar. 1918
tho Anglo-Oalifornia Trust Co. and the London Pans Nat. Bank of San
Francisco filed suit against tho Market Street Ry., this co. and the Union
Trust Co. of San Francisco, as trustees, to foreclose tho latter mortgage.
V. 106, p. 1127.
D e p r e c i a t io n F u n d . — In M a y 1915 the Calif. RR. C o mm, ordered tho
co. to set aside from Income a depreciation fund of $550,000 a year for
3 years for renewals and betterments; order effective June 30 1916. V. 101,
p. 924, 1803.
O p e ra tin g A g r e e m e n t . — At a referendum election on April 22 1913 the
lower Market St. track agreement, under which the city's Sutter and the
Geary St. (A. & B.) cars run through to tho ferry, was ratified. V. 96, p.
1299. In April 1916 the company and tho city reached an agreement
whereby the city’ California St. and Exposition lino (O. & D.) cars may
s
use tho outer loop at the ferry, providod the city pays for i s share of power
t
used and i s proportion of cost of construction and maintenance based on
t
use of tracks by said C. & D. cars.
M u n i c i p a l B o n d s V o te d . — At a city election held Aug. 26 1913 i was
t
voted to issuo $3,500,000 bonds for the construction or acquisition of a sys
tem of municipal street railways. See V. 96, p. 1490: V. 97, p. 238, 597.
N e g o tia t io n s f o r P u r c h a s e by C ity . — At a meeting held Sept. 24 1917, at
which tho Mayor, a committee of citizens and the members of the Reor
ganization Coinmitteo were present, i was proposed that the city appraise
t
tho physical property of the company and buy on tho installment plan;
also to agree with tho co. on a year determined to be a fair measure of I s
t
net earnings, or tako an average of 5 years, as the price to bo paid by the
city each year for every year of the franchise. N o bond issue i contem
s
plated in tho plan, but i would become effective through a charter amend
t
ment. On Sept. 25 1917 the Public Utilities Committee of the San Fran
cisco Board of Supervisors adopted a resolution saying tho purchase of the
U. RR3. by the city was in the best interests of tho people and authorizing
tho City Engineer to confer with a representative of the co. to fix a basis
of valuation. Any plan adopted must be ratified by tho people at an elec
tion, which could not be held before July 1918. V. 105, p. 1421, 1899.
For report of Bion J. Arnold on electric railway situation, franchise*.
S ec., seo Y. 96, p. 1490. Seo also V. 103, p. 2429.
D e c i s i o n . — On Jan. 18 1917 Judge Hunt in thoU. S. Court, at San Fran
cisco dissolved tho temporary injunction preventing tho construction of
municipal street railway tracks on lower Market St., paralleling the co.’
s
tracks. In Sept. 1917 co. appealed to the U. S. Supremo Court, and in
Oct. 1917 filed with tho San Francisco Board of Supervisors claims for d a m
ages against tho city amounting to S856,250, divided as follows: Deprecia
tion of value of franchise, $700,000; loss by excavation, $25,000, and loss
of rovenuo, $131,250.
S trik e — W a g e s . — A strike for a wage of $3 50 per eight-hour day and time
and a l a f for overtime begun Aug. 12 1917,. was formally abandoned
i.
Nov. 23 1917. Those platform men who remained loyal received a wage
increase of 3 cents per hour. V. 105, p. 910. 1523, 2186; V. 106, p. 1902.
S u it. — On Dec. 14 19)7 an action to recover $1,925,000 and int. at 7 %
from Dec. 1 1916 was brought against tho co. in the U. S. Dist. Court by
tho California Ry. & Powor Co., which contends that said amount remains
unpaid on a loan of $2,000,000 made to defendant. V. 105, p. 2544.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
S17.948,600Mch'06 1.5%
C o m m o n $18.800.000....................
Prof 4 % cum $20.000,000.......
4 J-D
20,000,000 Aug’
13, 1 %
1st pref 7 % cum $5,000,000..
1907 7 F-A
5,000.000 See text.
Notes $1.000,000........./ 1906 5
1.000,000 Feb. 1 1916
(Redeemable after 5 years at par.
Sinking fund gold bonds $35,-| 1902
4 g A-O
23,500,000 April 1 1927
275,000 (SI,000)_____ c*{ Interest at company’ office, or in N o w York.
s
I Union Trust Co.. San Francisco, Trustee.
Income deferred notos__________
6%
740.000 _________
Noto (toCal Ry & PowCo)... 1912
7%
1,925,000 ____ ____
Equip trust certfs $400,000/ 1910 6 J-D 15
50,000 See text.
gold guar prin & int_____ 1
Union Trust Co., N. Y.. trustee.
Equipment notos $300,000/ 1912 6 J-J
150.000 See text.
($1,000). Rod at 102H jInt. at Anglo-Cal. Tr. Co., San Fran., trusand Int. on any Int date__I tee, or E. H. Rollins & Sons, N e w York.
Market Stroot Ry consol Ml 1894
5 g M-S
7,053,000 Sept 1 1924
g (closed at $14.007,000)..lint, at Treasurer’ office, San Francisco.
s
D iv i s io n a l B o n d s .
—
Mark St Cab Ry (closed) mtgel
1883 6 J-D
1,800.000 Oct 15 1916
($1,000) g (soo text)..... /
Omnibus Cable Co 1st Mtge..
1888 6 A-O
1,940,000 April 2 1918
Ferries & Cliff House Mtge__ 1889 6 M-S
400,000 Dec 31 1916
Suttor Stroot 1st Mtge gold/
1888 5 M - N
992,000 M a y 1 1918
($1,000_______________ lUnion Trust Co., San Francisco, trustee.
C o n tin g e n t L i a b i l it i e s . — Prin. and Int. guaranteed.—
San Francisco Eloctrlc Rys__ ____
______ 1,416,000 _________
Gough Stroot R y __________ ____
______
45,000 _________
B o n d s . — Of the $35,275,000 sinking fund gold 4s. $9,866,000 are reserved
to retire underlying lions (tho other $3,175,000 needed for that purpose be
ing providod by tho operation of tho sink, funds). A sink, fund equal to
2 % of tho ontiro gross earnings, but not less than $100,000 a year, began
Jan. 1 1905. All tho income above 5 % on the common must also be applied
to a sink, fund or for improvements. V. 74, p. 529, 630. Through opera
tion of skg. fd.,$1,505,000 bonds have been purchased and canceled; $50,000
remain unsold in tho treasury; $354,000 have been reacquired and are
held by tho company; these bonds are not included in amounts given above
as outstanding. Bonds were listed on the N e w York Stock Exchange in
March 1908. V. 76, p. 1036. Equipment trust certificates of 1910 m a
ture $50,000 annually from June 15 1911 to June 15 1918, inclusive,
without option of prior redemption, excepting as to f l Issue. They
ul
aro guar., prin. & lnt., by United Railways Investment Co. They are
secured on 80 standard P-A-Y-E cars. V. 90, p. 1556. Equip, notesofl912
maturo $30,000 ann. July 1 1913 to 1922. V.95.p.751. P r i o r lie n b o n d s s u b .
t o c a l l.
$3,000,000 of Market St. Cable Ry. bonds were originally Issued,
falling duo Jan. 1 1913. On that date $1,200,000 wero retirod and tho bal
ance was extended to Dec. 15 1915 and again to Oct. 15 1916. The bonds of
Market St. Ry. Issue aro subject to operation of sinking fund after Sept. 1
1918 and Sutter St. Ry. 1st M. 5s are subject to ca l at rate of $50,000 per
l
annum, in numerical order, beginning with bond No. 1 $8,000 have been
.
reacquired and aro held in sinking fund. The notos shown in the table
aljovo wero Issued to reimburse the company in part for Improvements since
1902. Tho Ferries & Cliff House mtge. which f l due Mar. 1 1914, was ex
el
tended to Dec. 31 1914 after $50,000 were retired. In Dec. 1914 E. H.
Rollins purchased and extended to Dec. 31 1916 $400,000 of these bonds.
Tho remaining $200,000 (of the $600,000 due Doc. 31 1914) were paid at
maturity (V. 99, p. 1912). The note to the Cal. Ry. & Power Co. was
originally $2,000,000 but $75,000 has been paid. Of the Omnibus Cable Co.
bonds, $60,000, and of the Market St. Ry. Co. 5 % bonds, $45,000 have
boon re-acquired and aro held by the company.
D iv i d e n d s . — On 4 % pref., in 1902, Doc., 1.2%; in 1903, June, 1.2%;
Doc., 1.2%: in 1904. Juno, 1.5%; Dec., 1.5%; in 1905. June. 1.8%; Doc.
2%. In 1906, Mch., 3.6% ( n full of a l deferred dividends in arrears to
i
l
Sept. 30 1905); Dec., 2 % (paid in dividend ctrs.). None to Aug. 1913,
when 1% was paid. None since. On 7 % pref., 3 H % paid semi-annually
from Fob. 1909 to Fob. 1914. None since. On com., 1.5%, Mar. 1906.
E a rth q u a k e a n d F i r e . — For damage done by the earthquake and fire in
April 1906, soo V. 82, p. 930, 988. Later In the year the company suffered
from a strike of I s employees. See V. 83. p. 493, 563. In March 1907 e m
t
ployees again wont on strike, and this strike lasted for six months— see
annual report, V. 86, p. 1221.
120
ELECTRIC RAILWAYS
[Vol. 106
ton, Yuba City, Colusa, Meridian and Woodland. Also connects Suisun
and Vacaville in Solano County. Gauge, 4 f . 84$ i . Rail, 60 & 70-lb. T.
t
n
G ro s s
N e t (a ft e r
O th er
In terest
R en ta ls
B a l.fo r
OFFICERS.— Receiver, John P. Coghlan. 1904 Hobart Bldg., San Fran
■ E a r n in g s .
T a x es).
I n c o m e . C h g s . , & c . & L e a s e s . S k .F d .,& c
1916-17.-57,458.142 52,205,940 5163,121 51,928,882 5176,700 5263,479 cisco.— V. 105, p. 1420. 1618; V. 106, p. 500, 715, 1578. 2011. 2123.
1915-16— 7,751,743 2.337,709 178,525 1,943,096 176,400 396,738
PENINSULAR RA ILW AY.
1914-15— 8,024.095 2,750.268 208,059 1,974.400 176,400 807,527
R O A D . — Controls and operates 271.95 miles of track. Beforo the earth
Entire stock, except directors’ shares, i owned by Southern Pacific Co.
s
quake and fire in 1906. a part of the mileage consisted of cable lines, but
O R G A N I Z A T I O N . — Incorporated in California Juno 30 1909 as a con
this has since been changecf to overhead trolley, aad the greater part (94%)
solidation of various electric railways in which the Southorn Pacific i inter
s
of the system i now operated by electricity. 759 pass, and 69 work cars.
s
F R A N C H I S E S . — In a report by Haskins & Sells, accountants, i was ested. namoly the Peninsular RR. Santa Clara Inter-Urban RR. (V. 83,
t
stated “that out of the total original mileage of 228.95 miles, the franchises p. 380; V. 87, p. 545) and tho San Joso-Los Gatos Interurban Ry. (V. 76,
for 11.5431 miles only oxpire prior to 1929; a others between that year p. 1409; V. 89, p. 104).
ll
and 1952.”
S T O C K A N D B O N D S — • D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
OFFICERS.— Pres., Jesso W . Lilienthal; V.-P. & Gen. Mgr., William Stock $12,000,000 ($100)_______ __________ $12,000,000 ---- ---von Phul; Treas., A. M . Dahier; Sec. & Comp.. Geo. B. Wlllcutt.— V. 105, San Jose-Los Gatos Intor. ls l 1903
t
5 M-N21
500,000 M a y 21 1923
mortgago $2,000,000 ($500[Interest at Central Trust Co., San Franp. 1523, 1618, 1803, 1899, 2186, 2544: V. 106, p. 191, 1127, 1690, 1902.
& Sl.OOO)_________ c*tf) cisco. Trustee.
B o n d s . — A sinking fund of 2 % of net earnings, but not less than $10,000
PRESIDIO & FERRIES RAILROAD.— Trolley.
The city of San Francisco purchased tho property and rolling stock for per annum, began Jan. 1 1905.
5323,000 and i now operating i , tho franchises having expired Dec. 13
s
t
E A R N I N G S . — For year ending Dec. 31:
1913. All debts wero paid and stockholders received a dividend of $40
G ro s s
N e t (a f t e r
O th er
In terest,
B a la n c e
per share (par 5100, of which $55 paid in in liquidation.)
C a le n d a r Y e a r —
E a r n in g s . T a x e s ) .
I n c o m e . R e n ts , & c .
D eficit.
1917_______________ $257,178 S20.137 $39,325 $289,901 $230,439
1,085
34,349 274,228
238,794
1916... .......... . 275,234
NORTHERN ELECTRIC RY.
S a le . — In accordance with thereorg. plan (see below) tho U. S. District
R O A D . — Operates 63.591 miles of f rst main track, 9.648 miles second
i
Court at San Francisco ordered the sale of this co.’ properties at public track and 7.746 miles of sidings, turnouts. &c.; total. 80.985 miles. Also
s
auction on M a y 28 1918: upset price being 81,750,000. V. 106, p. 2123.
owns 16.27 m. first main track, leased to Sou. Pac. Co., and 1.26 m. main
P r o b a b le S u cc e s s o r I n c o r p o r a t e d . — In Oct. 1917 a company bearing the
track operated by San Jose RRs. Serves San Joso, Saratoga, Los Gatos,
same name was incorporated with a capital stock of $10,000, presumably Campbell, Cupertino, Monta Vista, Mayfield and Palo Alto, a l in Santa
l
asja successor to this co. The directors include G. B. Davis, E, Cole Clara County. Standard gauge. 60 and 70-lb., mostly T r i . 31 electric
al
and W .J. Ilayes.
motor cars( including 2 express and 5 work), 2 t ail cars and 1 electric
r
D e f a u l t — R e c e iv e r s h ip — P l a n . — Int. due Juno 1 1914 on tho $6,512,000
40-year 5s of the Northern Elec. R y . Co. was defaulted and no interest locomotive.
OFFICERS.— Pros., Paul Shoup, Los Angeles: Sec. & Aud., I . A.
t
has been paid on any of the various issues since. On Oct. 5 1914 John P. Oulloden, Los Angeles; Treas., M . S. Wade. Los Angeles: Gen. Mgr.,
Coghlan was appointed receiver of tho Northern Electric Ry. (V. 99, p. F. E. Chapin. San Jose— V. 89, p. 104; V. 104, p. 2343.
970. 1131) and on Feb. 19 1915 receivership was extended to properties of
controlled companies.
SAN F R A N C I S C O N A P A & C A L I S T O Q A R Y .
Tho following plan of reorganization, dated Jan. 1 1917 and amondod
Mar. 31 1917, was declared operative M a y 24 1917. See V. 106, p. 2011.
O R G A N I Z A T I O N . — Incorp. Nov. 10 1911 In California as successor to
Reorganization Committee: Frank B. Anderson, Chairman: John S. the San Fran. Vallojo & Napa Valley RR., sold at foreclosure on Oct. 30
Drum, Vanderlynn Stow, 1 W. Heilman Jr., Fred W. Kiosel, John D. 1911.
.
V. 93, p. 1535. Also acquired the Vallojo Benicia & Napa Valley
McKee, A. F. Jones, James K. Moffitt, M. H. Hyland, Miles Standlsh, RR. Has a 20-year traffic agreement with Monticollo SS. Co., providing
A. L. Reed and Phillip I Manson. with George F. Detrick as Secretary, for dally schodulo of at least six round trips between Vallojo and San Fran.
.
901 Alaska Commercial Building, San Francisco. Depositaries for bonds: Purchases power from. Great Western Power Co. under contract expiring
Union Trust Co. and First Federal Trust Co.. San Francisco.
Jan. 1 1922, with privilege of extension for a further period of 10 yoars.
F r a n c h is e runs to 1952 or later.
C a p ita liz a tio n o f P r o p o s e d N e i o C o m p a n y .
In Dec. 1915 the California RR. Comm, issued
(The new corporation will not assume any indebtedness of present cos.l duction cost of tho property, less depreciation, at an order fixing tho repro
$1,010,846.
First pref. ( & d.) stock, 6 % non-cumulative (par 8100)_____ $1,902,200
a.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Second pref. ( & d.) stock, 6 % non-cumulative (par $100)___
a.
957,800
Stock $2,000,000.................. .....
*$2,000,000 .........
C o m m o n stock (par $100)._____________________________ 2,340,000
1st M $1,000,000 gold ($100,1 1911 • 6 J-D
572.100 Dec. 1 1936
1stM . 5 % 20-year bonds, a l on equal footing excopt as to interest
l
$500 & Sl.OOO) callablo atllnt. at Mercantile Tr. Co., San Fran., Trus.,
ayments. Dated July 1 1917. Denom. $1,000, 5500 and
105 & int. on any Int dayc*J or at office of E. II. Rollins & Sons, N. Y.
100; interest payablo semi-annually. Total, $5,50o,00o, viz.:
5%
599,100 Doc. 1 1936
Class “A ” bonds, c
all, at 102, a fixed chargo from July 1 1917-52.012,400 Debentures— unsecured non-\ 1911
foroclosablo $610,000____ J
♦Class “B ” bonds, ca l at par, a fixed chargo from July 1 1919- 951,200
l,
* $731,700 of this amount i outstanding .the remainder boing delinquent.
s
♦Class “G ” bonds, call at par, a fixed charge from July 1 1922- 1,268,200
B o n d s . — Remaining $400,000 1st M. bonds aro reserved for additions and
♦Class “D" bonds, c
all, at par, a fixed charge from July 1 1927- 1,268,200
♦Prior to dates named B, C and D bonds will receive interest only to extensions at 75% of cost under certain restrictions. Annual s in k in g f u n d
of 1 % of bonds out began in 1914. V. 93, p. 1535.
extent of net earnings.
A sufficient number of Class " A ” bonds will be sold to provide for pur
E A R N I N G S . — For years ending Dec. 31:
poses necessary to tho plan. Bondholders and gold noteholders who have
C a len d a r Y e a r —
G ross.
N e l(a fl .t a x .)
I n ter es t.
S u r p lu s .
or shall become parties to tho reorganization agreement shall be deemed 1917-..............
S245.390
$96,724
$85,828
$30,895
and held thereby to have subscribed and agreed to pay for Class “A" bonds 1916__________ ____
212,443
70,101
67,105
2,996
as required by assessment shown in following table.
R O A D . — Comprises 44.71 miles of track, extending from Vallejo, vta
Napa, to Calistoga, of which 30 miles on private right of way, 12.39 miles
N e io S e c u r itie s in E x c h a n g e f o r O ld S e c u r itie s a n d A s s e s s m e n t .
on streets or highways and 2.32 miles sidings. Standard gauge. Owns
P e r $1,000 B o n d s .
F o r $ 5,284,000 For$6,512,000 F o r 5191,000
37 acres of land. inc . water front In Vallejo.
l
'
o r N o te s .
U n d e r ly . B o n d s . O v erly . B o n d s .
G old N o te s .
OFFICERS.— Pres.. Jas. Irvine, San Fran.: Sec. * Treas., T. V. M a x
Amount of assessments___5158— $834,872 826— S169.312 534.68— S6.624
well, San Fran.; Gon. Mgr., O. E. Brown, Napa.— V. 102, p. 251.
cio S e c u r itie s _
“A ” bonds (for assess.)-$316 81.669,744 $52 00 $338,624 $69 36 $13,248
“B ” bonds........
150
792,600 24 35 158,567 16 23 3,100
“C ” bonds— ........ 200 1,056,800 32 46 211,379 21 64 4,133
SAN JOSE, CAL.
“D ” bonds......... 200 1,056,800 32 46 211,379 21 64 4,133
S A N J O S E R A I L R O A D S . — A trolley road.
First pref. stock...... 300 1,585,200 48 67 316,939 32 45 6,198
Southern Pacific Co. owns entire stock excopt directors’ shares.
Second pref. stock................ . 147 08 937,785 98 05 18,727
O
IZ TI
. Incorp. in
23
C o m m o n stock... .......... ...... 207 30 1,349,938 138 20 26,396 San R G A N Ry.ACo.O NV.—90, p. 1297.California Doc. San 1909 as successor to
Joso
Properties of
Jose & Santa Clara
Unsecured creditors who assent to plan shall be entitled to receive in
common stock 3 0 % of the principal of their claims. Tho common stock- County RR. Co. purchased by San Jose RRs. March 15 1912.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
so distributed shall bo held as security for the claims of such creditors.
$5,000,000 .........
The corporations and individuals now Ilablo upon notes or obligations, Stock $5,000,000 ($100)......-...........
5 g J-J
1,373.000 Jan 1 1955
either as makers, endorsers or guarantors and who become partiostothe 1st mtge $1,500,000 gold) 1910
($1,000) sinking fund__ tfllnt. at Mercantile Trust Co., S. F., Trustee.
agreement, remain liable thereon.
4 4 A-O
$
1,152,000 April 1 1946
All of tho new capital stock, except one qualifying share for each director, San Joso & Santa Clara Cof 1906
R R 1st & ref M $l,500,000{Int. at Union Trust Co., San Fran., Trustee.
will be deposited with the Union Trust Oo. of San Francisco under a voting
trust agreement, such trust to continuo until a l the bonds of the new
l
($1,000) gold....... c * t f l
,
„
B o n d s . — Tho San Jose & Santa Clara Co. RR. bonds are subject to call
corporation shall be paying tho f l fixed interest of 5 % per year, but not
ul
atllOandlnt. S i n k i n g f u n d of 1% of outstanding bonds began Apr. 1 1911.
longer than July 1 1927. Seo V. 104, p. 1489.
1st M.bonds are subject to following sink.fund provisions, Jan. 1 1915 to
B a n k r u p tc y P r o c e e d in g s A g a in s t I n d o r s e r s . — A majority of the creditors
c.
c.
having refused to accept 81,000,000, or about 16% of tho face amount of 1939. in l , $10,000 per year, 1940-44, in l , 820,000 per yr; 1945-49.
their claims, involuntary proceedings in bankruptcy wero brought by the $30,000 per yr.; 1950-54, S40.000 per yr.; or those bonds may bo delivered
creditors’ committee in Sept. 1917 against Leon Sioss, Louis Sloss, W . P. to trusteo in liou thereof.
E A R N I N G S . — For years ending Dec. 31:
Hammon, Eugene J. de Sabla Jr. and E. R. Lilienthal, endorsers of $5,
Y ear—
G ro ss
N et.
O th er I n c . I n t . . R e n t . , A c . B a l . , D e f .
000,000 notes. V. 105, p. 1420. For schedules of property, &c., filed by tho
$ 3 1 ,9 1 7
$210
$ 1 7 4 ,1 2 0
$ 1 4 1 ,9 9 3
endorsers and terms ot settlement offered by them to tho creditors, seo 1 9 1 7 ________ ________ $ 3 0 9 , 3 8 3
1916
_______________
3 2 0 ,6 1 2
5 6 .8 8 8
760
1 6 6 ,6 2 4
1 0 8 ,9 7 6
V. 106, p. 2011. ,
R O A D . — Owns 28.46 miles f r t track, 11.75 miles 2d track, 2.68 miles
is
O R G A N I Z A T I O N . — Chartered Sept. 19 1907 under the laws of Califor
Jose and
nia and succeeded to the properties of the Northern Electric C o m p a n y ( n sidingsClara turnouts; total. 42.89 thereto.serving cities of San48 electric
l - Santa and and country adjacent miles;
Standard gauge.
corp. in Nevada), Chico Electric Ry., Shasta Southern Ry., Redding & motor, 2 freight and 11 trailer cars.
Red Bluff Ry. and Marysville & Yuba City St. Ry. In 1913 acquired the
Pros.
m . F. Herrin; V.-P.. Paul
Aud..
properties of the Valloio & Northorn RR. (partly constructed). A portion I OFFICERS.— Treas.,WM. S. Wade; Gen. Mgr., F.Shoup; Sec. & V. 90.
I. A. Culloden;
E . Chapin.—
of the line of tho Vallojo & Northorn RR., from Sacramento to Vallejo,
p. 1297; V. 92. p. 1033; V. 104, p. 560.
with branch lines to Suisun and Vacaville, I now operated.
s
Owns the entire capital stock of the following companies: Sacramento &
Woodland RR., Sacramento Terminal Co. and Northern Electric Ry. Co.SANTA CRUZ, CAL.
Marysvillo and Colusa branch. Operated the properties of these companies
C O A S T C O U N T I E S G A S & E L E C T R I C CO.
undor lease until Oct. 5 1914.
O R G A N I Z A T I O N . — Organized in California on Mar. 20 1912 and has ac
M a tu r ity .
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
quired tho Coast Counties Light & Pow. Co., Big Crook Light & Pow. Oo.
C o m m o n $15,000,000 ($100)..... .
...... $15,000,000 ........
PrefS10.000.000 ($100)5%n-c- .
10,000,000 — ...... and San Benito Light * Power Co. and Gilray Gas Works; also the entire
Northern Elec C o M $6,000,- 1905
5 g A-O
3,784,000 Oct 1 1955 capital stock of tho Union Trac. Co. (Santa Cruz). F r a n c h is e s in munici
000g($ 1,000) (closed) s f tf Int. at Mercantile Tr. Co.,San Fran., Trus. palities perpetual; county fr a n c h is e s on highways until 1946 to 1959.
Northorn Elec Ry 1st & cons 1907
5 g J-D
6,512,000 Doc 1 1947
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
mtge $25,000,000 gold— tf Int. at Mercantile Tr. Co., San Fran., Trus. C o m m o n $2.000,000— ...................
$1,000,000 .... ....
Secured notes $2,000,000 g 1911
_
___
6 g M-N
191,000 M a y 1 1914 1st prof $1,000,000 6 % cum ........
Quar.
100,100 Seo toxt
($500 and 81,000)___ c tfllnt. at Mercantile Tr. Co., San Gran., Trus. Prof $1,000,000 6 % cum...........
$1,000)___
Quar.
1,000,000 See text
Marysv&Coi BrlstM$l,500,-j 1911
5 g J-D
750.000 Dec 1 1941 Coast Counties L & P 1st M l 1906
5 g F-A
916,000 Aug 1 1946
000 g s f ($1,000)___ gu tfllnt. at Mercantile Tr. Co., San Fran., Trust.
$1,000,000 g ($l,000).c*tfl Int. at Mercantile Tr. Co., San Fr., Trusteo.
Sacramento* Woodland IstM f 1911
5 g J-J
750,000 July 11941 Big Crk Lt&Pow lstM$339,000 tf__
4%
296.000 M a y 1 1947
$1,000,000 s f ($l,000)c tfllnt. at Mercantile Tr. Co., San Fr., trustee. San Ben Lt&Pow lstMS150,000 tf__
6%
146.000 Sopt 1 1950
Sacramento Terminal bonds..___
______
150,000 ______
B o n d s . — Of tho Coasc Counties Lt. & Pow. bonds, $84,000 aro hold in
Chico Electric Ry bonds____ ____
______
14,000 ________
skg. fd. Callable 107>4 and int. on any int. day. Annual cum. skg. fd.
B o n d s . — Of tho S3,784,000 Northern Electric C o ’ s bonds, $2,270,000 aro of 1 % of bonds out. began June 30 1911. V. 95, p. 681. Sink. fd. on Big
owned by public, $1,500,000 plodged for loans and $14,000 exchangeable Crook Lt. & P. bonds, $3,600 per ann. began Mar. 30 1908; $43,000 in
for the Chico Elec. Ry. bonds. Of tho Northern Elec. By. bonds, $1,030, sinking fund. Sinking fund on San Benito Light & Power bonds of 1 % of
000 aro in hands of the public, $5,226,000 are pledgod for loans and $256,000 bonds out. began Juno 30 1915. $4,000 bonds and $360 cash in fund.
as part security for tho $191,000 notes. Of the Marysville & Colusa and
D iv i d e n d s . — 6 % per ann. I being paid on both issues of prof, stock.
s
Sacramento* Woodland bonds, $363,000 and $315,000, respectively, aro
E A R N I N G S . — For years end. Dec. 31 (not incl. Union. Trac. Co.).—
pledged for loans. Marysville-Colusa Branch bonds aro subject to call at
Y ear—
G ross.
N et (a ft .T a z .). I n t ., A c .
D e p r e c 'n .
S u r p lu s .
105 on any int. date. S in k in g f u n d of 2 % of bonds out begins after five
1917 ....... $391,158
$169,214
SS0.594
$24,000
$64,619
years. Bonds aro guar., p. & 1 , by Northern Electric Ry.
.
1916......... 363.979
167,740
80.221
20.000
67,519
Tho Sacramento & Woodland RR. bonds aro guar., p. & 1 , by Northorn
.
P r o p e r t . — Has one
two steam
Elec. Ry. and Vallojo & Northern RR. S in k in g F u n d . — 2 % annually on capacity, y3,346 h. p.; 75hydro-electric and lines and 531 plants; combined
milos transmission
miles distribution
bonds out, became operative July 1 1916. Subject to call on any int. date lines. Gas plants In Santa Cruz., Watsonville, Hollister and Gilray.
at 105. Listed on the San Francisco Stock Exchange.
OFFICERS.—
Gen.
Waldo Colomau; V.-P., R.
Tho 6 % 3-year notes aro secured in part by $256,000 Northern Eloc R y . Hotaling; Sec. & Pros. & L. W. Mgr., S.V. 95, p. 681; V. lot, p. 614. M
Treas.,
Pryor.—
first and consol 5s.
Union Traction Co.— Controlled by tho Coast Counties Gas & Elec. Co.
E A R N I N G S . — For year ending Dec. 31 1917, gross, 81,000,500. In
At a meeting of the bondholders of tho Union Traction Co. in Aug. 1915
1916, gross, $635,664; not (after t x s ' 832.380, $29,397; interest, $571,477;
ae),
a bondholders’ protective committee was appointed to investigate the con
deficit, $542,080.
R O A D . — Mileage operated: Northorn Electric Ry. fir t track, 133.51: dition of that corporation. V. 101. p. 616, 846. A majority of tho bond
s
Sacramento and Woodland, 17.11: Marysville and Colusa branch, 22.38: holders have signed an agreement, without surrender of any foreclosure
Sacramento Terminal, 6.04: total f r t track, 178.74; othor tracks, 38.37; rights, to tho offoct that property I to be managed as heretofore and cou
is
s
total, 217.41. Connects Chico, Oroviilo, Marysville, Sacramento, Hamil pons to be paid as earned.
R E P O R T . — For year end. June 30:
F isca l
Y ear—
f
M ay , 1918.]
ELECTRIC RAILWAYS
BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a t u r it y .
Union Trac Co 1st M $750,-/ 1905
5%
631,000 Fob 1 1935
000 gold ($l,000).c&r ntf lint, at Union Tr. Co., San Fran., Trustee.
The bonds have a skg. fund from 1910 to 1915 of
of bonds
out.; from 1915 to 1920 1 % of bonds out., and from 1920 to maturity 2 %
of bonds out; said fund to bo used to redeem the bonds,. Are subject to
call at 110 and lnt. $100,000 bonds are reserved for betterments and
extensions. $19,000 have been retired.
R O A D . — Operates 18 miles of track In Santa Cruz and to Capitola.
Standard gauge.— V. 101, p. 616, 846.
SAVANNAH, GA.
S A V A N N A H E L E C T R I C CO.— A trolley systom.
O R G A N I Z A T I O N . — Incorporated in Georgia In Doc. 1901 as a consol!
datlon of the City & Suburban Ry., the Savannah Thunderbolt & Islo of
Hope Ry., Savannah & Islo of Hope Ry. and tho Edison Eloctric Illuminat
ing Co. Does tho entire street railway and tho greater part of tho oiectriclightlng and powor business of the city. Tho Savannah Power Co. was
Incorporated In Georgia M a y 3 1912 (capital stock authorized and issued,
$1,000,000), and has built a power station with 14,700 k. w. capacity which
I operated under lease by tho Savannah Electric Co. and tho latter guaran
s
tees tho bonds and notes Issued by tho Power Co. V. 95, p. 1040. F r a n
c h i s e s for both street railways and electric-lighting plant are perpetual.
Bonds and stock were In July 1902 listed on the Boston Stock Exchange.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $2,500,000 ($100)--...
......
$2,500,000 ________
Prof $1,000,000 6 % n-c ($100)--6 A-O
1,000,000 O c t ’
07. 3 %
1st cons mtgo $3,500,000 gold j 1902 5 g J-J
2,147,000 Jan 1 1952
($1,000 and $500)___ c*.tfllnt. at American Trust Co., Boston, trustee.
8av Thun & Islo of I 1st M J
I
1897 4 Q-J
1,000,000 July 1 1947
g ($1,000)51,250.000.c*ntf lint, at Central Trust Co., N o w York,trustee.
Sav Power 1st M $2,500,000/ 1912 5 A-O
Soe text April 1 1932
g (
call at 105 and int)__ tf (Commonwealth Trust Co., Boston, trustee.
Notes payable Nov. 30 1917--___
______
1,141.000
S to c k . Tho 6 % preferred stock i subject to call at 120 at any time.
—
s
B o n d s . Of tho Savannah Eloc. Co. 1st cons, bonds, $1,000,000 aro re
—
served to retire a like amount of bonds of the Savannah Thunderbolt & Is «
l
of Hopo Ry. Callablo In wholo (or In part for sinking fund) at 110 and in .
t
on any Interest date. The company binds itself to apply at loast $20,000
per annum, boginning 1906, toward improvements or extensions or in the
purchase of bonds. Tho remainder unissued of tho Savannah Eloc. bondi
may bo usod for new construction and equipment, at rate of $1,000 bonds
for $1,250 in cash spent. Of the Savannah Thunderbolt & Isle of Hopo Itv.
bonds, $250,000 have beon canceled. S in k in g fu n d 2 % per annum began
Jan. 1 1918. Bonds guar., p. & i , and sinking fund by Savannah Elec. Co.
.
D iv i d e n d s . On prof, stock 1902 to 1907dncl.. % por annum. None since.
—
6
E A R N I N G S . — For tho 12 months ending Dec. 31:
121
B o n d s . — Secured by pledge of the capital stocks, contracts and other
securities of tho underlying cos.: also by lien on other property of the co.,
I cl. impts. to be made shortly with part of the proceeds of present issue.
n
Sufficient bonds reserved to retire certain underlying liens which in amount
are less than tho present issue. N o bonds to be issued for more than 87 H %
of total expenditures, nor unless annual net earnings of the combined prop
erties are 1 Ji times the Interest charge, Incl. bonds to be Issued. Red. at
w /ole°r Part to Nov. 1 1931 and at 105 and int. thereafter.
!
, ^
’ System includes 4 electric generating stations (aggregat
—
ing 5,900 h. p. capacity); a hydro-electric system at Susquehanna, Pa., ca
pacity 600 h. p.; 75 miles of high-tension transmission lines, connected with
w ^kutlng lines; 20 miles of street railway trackage, cars, &c.
OFFICERS.— Pres., Frederick J. Platt; V.-P.. James A. Linen, Jr.—
V. 1 * , p. 2341.
03
SEATTLE, WASH.
P U G E T S O U N D T R A C T I O N , L I G H T & P O W E R CO.
O R G A m Z A T I O N . - I n c o r p . Jan. 2 1912 in Maine per plan in V. 94, p.
124 (ro-incorp. in Mass, on July 9 1912). and has purchased and consoli
dated the properties formerly owned by the Seattle Electric Co., Pacific
Coast Power Co., Puget Sound Power Co., Seattle-Tacoma Power Co. and
Whatcom County Ry. & Light Co. Also owns most of the stock of the
Puget Sound Eloctric Ry. and a l the capital stock of the Pacific Northwest
l
Irac. Co., which in turn owns the capital stock of the Puget Sound Inter
national Ry. & Power Co., lessee of Everett Ry., Light & Water Co.
Through i s subsidiary companies does substantially a l the street and
t
l
Interurban railway and the commercial electric light and power business in
the Puget Sound district, including the cities of Seattle, Tacoma, Belling
ham and Everett, Wash. Owns or controls hydro-electric power plants
with a present development of 87.500 h. p. and an ultimate development of
about 175,000 h. p. and steam stations with a present capacity of 31,400 h. p.
Principal franchises expire as follows: In Seattle, railway, 1934; lighting.
1952. rn Tacoma, railway, 1939: power. 1930. In Bellingham, railway.
,
1941 (minor railway, 1934); light and power, 1940; gas, 1941. In Everett,
railway, in 1944 and in 1950; lighting, in 1950. Interurbans chieflv on
private right-of-way.
F a v o ra b le F r a n c h is e D e c i s i o n . — See V. 96, p. 791.
F a r e s .-— S e o “Chronicle” of Feb. 13 1915, page 557. On Sept. 12 1917
t e P. S. Comm. auth. tho co. to discontinue the sale of 25 tickets for $1
hi
in Seattle. V. 105, p. 1209. The city appealed, but in Nov. 1917 Judge
Jolm I . Mitchell in the Thurston County (Wash.) Superior Court dismissed
t
the complaint.
S a le o f W a te r P la n t to C ity .— On Aug. 10 1916 the city of Everett took
over tho water plant of tho Everett Ry., Lt. & Water Co. for $994,000.
Proceeds woro used to take up the $500,000 Everett Water Co. 1st 5s,
duo 1921 and $197,000 of the $675,000 Everett Ry.. Lt. & Water Co. 1st
M. 5s, duo April 1 1925. lu
tho co. applied to tho P. S. C o m m , for relief from the provisions
of i s Seattle franchise compelling i to pave between tracks and pay 2 % of
t
t
N e t (a f t e r
S in k in g
I s gross revenues to tho city. A similar petition by the Tacoma Ry. &
t
C a l. Y e a r —
G ross.
T a x es).
In terest.
Fund.
B a la n ce .
t
1917------------ $968,173 $322,581 $270,549 $20,000 sur.832,033 Power Co. was dismissed on April 27 1917, the P. S. Comm, holding that i
eif
1916
-------- 826.093 272,399
262,757
20,000 def. 10,358 had no power to interfere and grant r l e . On April 26 1918 the Wash.
s
R O A D . — Oporates 59.15 miles of singlo track. In Sept. 1917 received Supreme Court at Olympia denied the Tac. Ry. & P. Co.’ application for
t
auth. to extend Its lino co Port Wentworth. Construction has beon begun. a writ to compel tho P. S. Comm, to investigate i s financial condition and
t
Gauge, 5 feet. Powor stations havo 12,300 lc.w. capacity. 80 passengor either raise i s fares or grant other relief necessary, holding that the remedy
for t i difficulties of tho u i i i s l e in the legislature rather than in tho
lo
tlte is
and 17 other cars.
OFFICERS.— Pros.. Geo. J. Baldwin; V.-Ps., Chas. F. Wallace and courts.— V. 106, p. 2012.
On Oct. 10 1917 Manager Bean of tho Tacoma Ry. & Power Co. agreed
Harry I . Hunt; Treas., Henry B. Sawyer; Sec. & Mgr., Howard C. Foss,
I
s
Savannah; Asst. Sec., Alvah K. Todd, Boston.; Gen. Mgrs., Stone & to operato tho city of Tacoma’ tido-flat carline at cost. V. 105. p. 1618.
, In
Tacoma. Wash., defeated a proposal that the city
Webster Mgt. Assn.— V. 102, p. 1437; V. 103, p. 140; V. 104, p. 1593.
issue $.j,000,000 in bonds for tho purchase of the properties of tho Tacoma
B y . & Pow .Co. V . 106, p . 1462.
S tr ik e S e ttle m e n t . On Aug. 2 1917 the strike on the lines of the company
—
SCRANTON PA
was settled to mutual satisfaction of company and employees after having
S C R A N T O N & W I L K E S - B A R R E T R A C T I O N C O R P O R A T I O N . — been in force for 2 weeks. V. 105, p. 290. 389. 499. Arbitration of the
A holding company.
points at issuo was agreed upon. In Nov. 1917 an increase in wages of
O R G A N I Z A T I O N . — Incorp. in Virginia in 1913 as a reorganization (por 4 cents an hour was granted tho carmen of the Puget Sound Elec. Ry.
plan V. 96, p. 1701) of the Lack. & Wyo m . Valley Rapid Transit Co. (sold and lacoma Ry. & Pow. Co., effective Aug. 1 1917.— V. 105, p. 1999.
at foreclosure),which company ownod a tho securities of the Lackawanna
ll
I n c r e a s e s i n P o w e r R a te s . — V. 105, p. 2095.
& Wyoming Valley R R ., the Scranton & Northeastern RR., tho Lacka
STOCK A N D BONDS—
D a le .
In terest.
O u ts ta n d in g .
M a tu r ity .
wanna Tunnol Co. tho Central Valley RR. and the Wilkes-Barre RR.
<$100>......
Q-J 15 $20,110,400
Soetoxt
Those latter five companias woro morgod into tho Lack. & Wyom. Valley 1 fSl^OOO.OOO .6% cum(SlOO) ....
Q-J15.
14,793.600 Oct ’
17, H %
RR. Co. (tho operating company) with $1,850,000 stock and $5,000,000 5-yr M gold bds $15,000,000 1914
6 g F-A
10.057,000 Feb 11919
bonds, a l of which i owned by tho Scranton & Wilkes-Barre Trac. Corn,
l
s
($10,000, $5,000, $1,000, Int. at Old Colony Trust Co., Trustee.
and deposited under that company's refunding mtgo., subject to $888,000
$500)____________ c*&r
L. & W. V. Rapid Transit c l trust bonds. Tho Railroad Co. owns a l the Pacific Coast Powor 1st mtge 1910
ol ,
l
5 M-S
3.990,000 M ar 1 1940
stock of the Lack. & Wyom. Valley Pow. Co. Power franchises perpetual.
$10,000,000 gold ($1,000) Int. at Harris Tr. & Sav. Blr.. Chic., Trusteo.
S in k in g F u n d a n d R e d e m p tio n P la n . — Tho plan for a sink, fund ($15,000
c*&r (closed mortgage)__
or at Harris, Forbes & Co., Inc., N e w
per ann.) and tho establishment of a c l price of 105 and lnt. for tho Lacka. „
al
„
York, or Boston.
& Wyo. Val. Rap. Tr. Co. c l , trust 5 % bonds of 1901 becamo effective So^ ! 0,¥,°££olst. $5,000-1 1900
ol
M
5 g F-A
3,808,000— Feb 1 1930
Nov. 8 1917. V. 10o, p. 2094.
000 ($1,000) gold— c*ntf\Int. at Boston Safe Dep. & Tr. Co., Trustee.
do do cons & ref $25,000. 1907
5 g F-A
5;719,000— Aug 1 1929
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
000 ($1,000) gold__c*&rtf Int. at Old Colony Tr. Co., Boston, Trustee.
C o m m o n $1,500,000-....................
$1,500,000 _______
Seattle Ry 1st M $500,000 g 1901
5 g M-N
356,000— Nov 1 1921
Prof cum $1,000,000......- ___
See text
760,000
See text
($1,000) guar p & 1 c*tf Int. at Boston Safe Dep. & Tr. Co., Bos.,Tr.
__
L & W V Rap Tr Go coll trust? 1901
5%
873,000 Aug 1 1951
5 g J-D
2.920,000— June 11933
5 % gold bonds______c*tf\Int. at Guaranty Trust Co., N. Y., trustee. Pug Sd Pow 1st M $4,000,000 1903
gold ($1,000) guar___ c*tf Int. at Old Colony Trust Co., Boston, Trust.
Refunding mtge (seo text) g( 1913
5%
2,096,000
Aug 1951
Seattle-Everett---------- mtgo $5,000,- 1909
5 M-S
2,962,000— Mar 1 1939
nnn
($1,000)....... ... c*t f Guaranty Trust Co., N e w York, trustee.
t
000 g ($1,000, &c)..c*&rtf Int. at Old Colony Trust Co., Boston, Trust.
Coll trust sink fund gold bdsf 1914
6 g A-O
970,000 Apr 1 1934
Everett Ry, Lt & W 1st M f 1905
5 g A-O
171,000— April 1 1925
$1,000,000 ($1,000)___c*\Guaranty Trust Co., N o w York, trustee.
$2,000,000 g ($1,000)-.ctflint, at Bankers Tr. Co., N. Y., Trustee,
S to c k . — Divs. on prof. 6 % por annum until Juno 30 1917 and 7 % there
5 F-A
See text Feb 1 1941
after. Cumulative from June 30 1914. Pref. stock i rod. at 105 three do do cons M $4,000,000/ 1909
s
gold------------ c*&r.\Int. at American Trust Co.. Boston, trustee.
years after i s issuo. Prof, and com. havo equal voting power.
t
Everett R y & Eloctric first/ 1901
5 g A-O
825,000 April 1 1921
B o n d s . — Refunding mtgo. bonds are callable at 105 and l t ; s in k in g fu n d
n.
mortgago $1,000,000 gold/Int. at Bankers Tr. Co.. N. Y., Trustee.
of
ner annum of outstanding bonds began Nov. 1 1917; $888,000
al
($1,000) (closod)------tfl N o sinking fund and not subject to c l .
are reserved to retire underlying bonds. The mortgage was authorized
5 g F-A
3.596.000— Feb 1 1932
originally for $5,000,000, but was subsequently closed at 83.000,000. The Pug Sd El 1st cons M $5,500,-/ 1903
L. & W. V. Rapid Transit Co. 5 % bonds are secured by deposit of $1,850, 000 gold ($1,000)--- c*tf lint, at Old Colony Trust Co., Bost., Trustee.
..... ...
do cons <c ref M $15,000,000 1911
S
........ Seo text
000 stock and $5,000,000 1st M. 5s. due 1951, of the Lack. Sc Wy o m . Valley
5 g A-O
1,236.000— April 1 1929
RR. Co. Under a supplemental indenture, dated Nov. 1 1917, a s in k in g Tacoma R y & P 1st M gold/ 1899
($1,000) $1,500,000 not ro-i Interest at Old Colony Trust Co., Boston,
f u n d of $15,000 per annum which began M a y 1918 was created and tho
doomablo________ c*ntfl Trustee.
bonds were made subject to call at 105 and in . $15,000 in sinking fund.
t
5 g J-J
See text July 1 1927
V. 105. p. 2091. As of M a y 1 1918 a l but $25,000 of tho bonds had been Pacific Tract 1st M $5,000.-) 1907
l
000gold ($1.000)-.....c*\Int. at Old Colony Tr. Co.. Bost., Trustee.
stamped by tho trusteo with the callable feature sinking fund agreement.
5 g M - N $1,407,000 Nov 1 1935
V . 105, p. 2455. Tho coll, trust 6s of 1914 aro red. at any Int. period at 100 Whatcom Co Ry & Lt 1st M / 1905
$2,500,000 gold ($1.000)tf lInt. at Old Col. Trust Co.. Boston, Trustee.
and accrued int. S in k in g f u n d ( u m u la tiv e ) of 1% of outstanding bonds
c
1,605.055 .........
annually from March 1 .916 to March 1 1933. These bonds are secured by Notes payable, Nov. 30 1917 ..............
S T O C K . — In addition to the amounts of com. and pref. stock reported
tho same collateral as the f r t and refunding mortgago. V. 98, p. 1240.
is
D iv i d e n d s . — 6 % was paid on preferred stock from July 1913 to an inc . outstanding above, thoro aro non-interest-bearing receipts for $17,600
l
com. stock exchangeable at par for stock certificates. Pref. stock i ros
April 1917. In July 1917 began paying 7%.
doemahlo a . 125. SI .466.800 common stock i owned hv Public Service
t
s
E A R N I N G S . — Fiscal year ending June 30:
Inv. Co. Both classes of stock aro non-taxable in Massachusetts.
F isca l
O p e ra tin g O th er I n c . E x p . &
B on d
P r e fe r r e d B a la n ce
B o n d s . — Remaining 5-yr. gulu uonus of iui4 are reserved for additions,
Y ear—
in co m e. ( l l o l d .C o .) . T a xes.
In terest.
D iv s .
S u r p lu s '
1916-17.... $315,715
$591
$5,613 $210,000 $42,800 $57,893 &e., at 7 5% of cost. Suojeet to call as a wholo, but not In part, at par and
it
s
1915-16 ..... 305,148
540
4,547
210.000
42,200
48,941 accrued l l . Pacific Coast Power mtge. i closed. S10.000 have been can
l
R O A D . — Lackawanna & Wyo m . Vail. R R . operates 22.75 miles of f r t celed. Rod. a l or in part at 105 and int. on any int. date. Seo V. 90
is
track, 20.74 miles of second track and 8.61 miles of yard track and sidings. p. 1102.
S ea ttle E le c tr ic C o . — S in k in g F u n d . — On 1st M., 1% of bonds outstanding:
Doublo track, laid with 90-lb. r i . Standard steam construction, private
al
right of way. A standard-gauge tunnel, about 5.000 feet long, was com $1,192,000 bonds woro hold by tho trustees not canceled Jan. 1 1918;
n.
pleted in Scranton In Oct. 1905. This removed tho only heavy grado on callablo as a wholo or in part for sk. fund on any i t date at 110 and int.
e.
tho lino between Scranton and Wilkes-Barre. 30 passenger, 72 freight cars The consol, and r f M. bonds can bo called In amounts not loss than
4 motor express cars, 1 motor work car and 2 electric freight locomotives 8500,000, and in smaller amounts for sinking fund purposes at 105 and int.
Froight and passongor businoss i exchanged with a l railroads entering the on any interest day. Sinking fund of 1 % per annum started Oct. 1 1909;
s
l
$669,000 of tho bonds woro held by trusteo for s f Jan. 1 1918. 31,344,
..
terminal c t o .
lls
000 aro canceled and $7,081,000 reserved to retire underlying bonds. V. 85.
OFFICERS.— Pres., W m . C. Sprout; Chairman Exec. Comm.. Frank R
p. 222; V. 92. p. 189. Both mortgages are closed.
Ford: V.P., W. H. Lippincott; Sec., S. C. Stivers; Treas., F. W. Potts.—
S ea ttle R y . bonds havo a s k . f d . of 1% of bonds certified; $32,000 have
V. 98, p. 1158, 1246, 1539: V. 101, p. 1190: V. 105, p. 910, 1309, 2094.
been canceled and $112,000 aro held In sk.fd. not canceled. Bonds can be
called as a whole (or in part for sk. fd.) at 110 and Int. on any lnt. day.
K E Y S T O N E UTILITIES CO.— A holding company
P u g et S o u n d P o w e r C o . — Mortgago i closed. Botn prin. and lnt., as well
s
O R G A N I Z A T I O N . — Incorp. In Del. Nov. 24 1916. Controls the
as sink. fd. nayinonts, aro guar, by the Seattle Electric Co. Can be ex
nanover Light, Heat & Power Co., Hanover & McSherrystown St. Ry. Co
(seo this co.), Gettysburg Eloctric Co., DuBols Electric Co.. DuBois Traol changed for Soattlo Electric consol, and ref. 5 % bonds, par for par. A s in k
in g fu n d of 1% por annum of bonds outstanding commenced Mar. 1 1906;
tlon Co. (seo this co.), Susquehanna County Light & Power Co.
d
l
These companies do tho electric light, power and part street railway busi $393,000 havo been canceled ($391,000 by sink. f .). Subject to ca l as a
ness in Hanover, Gettysburg, DuBois, Montrose. Susquehanna, N e w Mil wholo (or in part for sk. fd.) at 110 and interest on any int. day.
S e a ttle-E v erett bonds are a direct obligation of the Seattle Elec. Co., but
ford and other communities In York. Adams, Susquehanna and Clearfield
Pacific Nortliwost Traction Co. has agreed to pay prin., int. and sinking
counties, Pa. Tho properties are operated by tho United Service Co.
t
Brooks & Co..Scranton, in Dec. 1916 offered tho unsold portion of th« fund payments on those bonds, and has mortgaged i s entire property as
$1,225,000 1st & consol. 5s at 9 1 H and Int., with 50% allotment of stock. security. They aro additionally secured by the pledge of the entire issue
($200,000) of stock of tho Puget Sound International Ry. A Power Co. and
V. 103, p. 2341.
$500,0OO consol, mtge. bonds of the Everett Ry., Light & Water Co. The
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
mortgage I closed. A sinking fund of 1 % on amount of bonds out began
s
Stock $5,000,000 ($50)...... ............
$1,500,000 .
Mar. 1 1914. $138,000
s held
1st & consol M $7,500,000 gi 1916
5 g F-A
1,225,000 Nov" V 1941 sink, fund uncanceled. notdnd.ln amount, reported outstanding i for s in
Bonds aro callable as a whole or in part
.f
.
($200, $500and $l,000).c*(Interest at Scranton Trust Co., trustee. at 105 and int. See Y. 88, p. 1062; V. 92, p. 1244.
E v er e tt R u ., L t . & W a t e r C o .— Of the *2,000,000 M., *825.000 are re
served to rotiro prior liens. *675,000 wero issued but *504,000 were
retired in 1916 through balance of proceeds from sale of water plant to
city of Everett. Mortgage closed, except for refunding. N o sinking
fund, but bonds subject to call on any interest date upon 60 days’ notice
at 1 0 7 X and interest. Of tho *4,000,000 consolidated Mortgage, $996,
000 i reserved for prior liens, $463,000 owned by Puget Sound Inter
s
national Ry. Sc Power, *480,000 owned by Pacific Northwest Traction Co.,
$31,000 i in sink, fund canceled and $2,030,000 are unissued. Callable as
s
a whole (or in part for sk. fd.) at par and lnt. on any int. day. Sink. fd. of
1 % per annum of bonds out began M a y 1 1914. V. 88, p. 1061.
P u g e t S o u n d E le c tr ic f y — Of the 1st consol. M., $1,236,000 aro reserved to
l.
retire a like amount of Tacoma Uy. & Power Co. bonds and $668,000 have
been canceled. Callable as a whole on any interest date at 110 and
lnt. A s in k in g fu n d of 1 % of bonds certified, plus 5 % per ann. on bond
purch. for sk. fd., began Jan. 1 1907. Sufficient of consol, and r bond
ef.
are roserved for underlying bonds, the remainder i issuable at 8 0 % of
s
cost for additions and improvements.
T a c o m a R a ilw a y & P o w e r C o . — $264,000 are held by Puget Sound
Electric Co. Are not subject to c l .
al
„ ,.
P a c i f i c T r a c tio n C o — $500,000 were issued to retire a like amount of o ld
F i r s t M . b o n d s; ontiro $500,000 now in treas. Remaining bonds reservod
for future additions and improvements, under restrictions. Subject to call
at 105 and int. at any time. Sk. fd. of 1 % of bonds outstanding began
Jan. 1 1914. Bonds aro guar. p. & 1 & sink, fund by Puget Sd. El. Ry.
.
W h a tc o m C o u n ty R y . & L ig h t C o . — Callable as a wholo on any lnt. dato
at 105 and int. Sk. fd. o f 1% per ann. of bonds outstanding, i earned, com
f
menced Nov. 1 1906; on Nov. 1 1911 became obligatory. $357,000 bonds
have been cancelod, of which $111,000 by sk. fd. Mortgage i closed.
s
D iv i d e n d s . — On pref., 1J4% quar. from organization to April 1915. In
July 1915 paid only */i% \ same rate quar. to and lnc . Oct. 1917. Jan.
i
E A R N I N G S . — For year ending Dec. 31:
Y ear—
[Vol. 106
ELECTRIC RAILWAYS
122
G ross.
N e t (.aft. T a x . ) .
I n terest.
,
S in k . F u n d s .
„
,
S u r p lu s .
1917...... $9,454,861 *3,600,843 *1,979,061 *372,126 *1,249,655
1916 ....... 8,107,371 2,986,376
1,860,376
352,606
773,394
P R O P E R T Y . — Power stations nave 90,930 k. w. capacity. Also pur;
chases power (Bellingham Division) from Western Canada Power Co.>
street and interurban railways, 493.6 miles equivalent single track. Gauge,
electric, standard; cable, 3 f . 6 i and 3 f . Passenger cars, 577 motor,
t
n.
t
14 trail and 45 cable grip; 374 freight, mail and miscellaneous; 12 locomo
tives.
OFFICERS.— Chairman of Board, Frederick S. Pratt; Pres., A. W .
Leonard; V.-P.. W. I . McGrath: Clerk, William T. Crawford; Sec., James
I
B. Howo, Seattle; Treas., Henry B. Sawyer: Gen. Mgrs., Stone & Webster
Mgt. Assn.— V. 105. p. 499. 820, 1209, 1420, 1999 2095, 2185; V. 106, p.
190,397,930,1231,1462,2011. _____
SEATTLE & RAINIER VALLEY R Y.
O R G A N I Z A T I O N . — Incorp. In Del on June 8 1916 as successor to the
Seattle Renton & Southern Ry., which was bid in at foreclosure sale on
M a y 12 1916 by Attorney John O. Higgins, representing the bondholders
(there wero $825,000 1st 5s outstanding) and common claimants under the
plan of reorganization. V. 102, p. 2078.
In Apr. 1917 reached a settlement with city over franchise difficulties
and co. was awarded a judgment of $41,700 against city because of changes
in grades on Rainier Ave., &c.
In Nov. 1917 applied to the City Council for permission to abolish the
4-cent fare and to chargo 2 cents for transfers to other linos.
Has *250,000 com. stock and *110,000 pref. stock (par *100) auth. and
outstanding. Also has outstanding *374,880 6 % 1st M . bonds, $577,500
6 % Gen. M . bonds and $400,000 6 % Income M . bonds.
pr- E A R N I N G S . — For year ending Dec. 31 1917, gross, $307,290; net,
*89,589. In 1916, grass, *306,438; not, *95,855.
R O A D . — 24.863 miles of track, from Seattle via Columbia City and
Dunlap to Renton. Rails, 60, 70 and 75-lb. T. Standard gauge. 34
passenger cars, 19 freight cars and 1 locomotive.
OFFICERS.— Pres., Marshall E. Sampsell, Chicago; V.-P., E. M. Mills;
Gen. Mgr., Walter Brown; Treas., Edgar W . Peck; Sec., M. Murphy.—
V. 102, p. 2343.
SELMA, ALA.
SEL M A T R A C T I O N C O M P A N Y .
O R G A N I Z A T I O N . — Organized in Mar. 1918 to take over and operate
the properties of the Selma Street & Suburban Ry., sold at foreclosure
March 14 1918.
S T O C K A N D BONDS.—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n $10,000 ($100)...................
None
First mtge *50,000 ($1,000)/ 1918
5 g M-S 15 *50,000 Mar 14 1948
gold.. ...........c*&r\D. L. Gerould and O. B. Ayers, trustees.
Second mtge *25,000 ($1,000) / 1918
5 g M-S 15
25,000 Mar 14 1938
gold_____________ c*&r(D. L. Gerould and C. B. Ayers, trustees.
' B o n d s . — Have no sinking fund provision and aro not subject to c l .
al
F R O A D . — Operates a l t l ovor 8 miles of track in and around Selma,
ite
laid with 40, 56 and 116-lb. T r i . Standard gauge.
al
OFFICERS.— Pres. & Gen. Mgr., J. D. Woodard; Sec.-Treas., Hugh
Mallory-— V. 106, p. 1462.
Omro. Power i also sold in Plymouth, Elkhart Lake and Sheboygan
s
Falls. F r a n c h is e s . Operatos under indeterminate permits as provided
—
by Wise. P. U. Law, and l thus protected from competition.
a
F a r e I n c r e a s e s . — In April 1918 was auth. by the Wisconsin RR. Comm,
to eliminate a l fares of less than 5 cents.
l
R a te I n c r e a s e . — Was auth. by the Wise. RR. C omm, to make a surcharge
of cent por k. w. h. on a l lighting and power business, effective M a y 1 T8.
l
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
C o m m o n stock, $2,000,000
$700,000 , ..... -
Prof stock, 7%, $5,000,000.......
Q - M ... 1,445.000 M a r '18, I K
1st & ref M $20,000,000 g\ 1917
5 g M-S
1,396,500 Mar 1 1947
($500 & $l,000)c*._..... / Interest payable in Milwaukee or N. Y.
U n d e r ly in g L i e n s —
.
Fond du Lac St Ry & L mtgel 1899
5 g J-J
133,500 July 1 1924
$250,000 ($500) g-r&c*ntf) Int. at Nat. Exch. Bank, Milwaukee.
East Wise Ry & Lt 1st M gt 1903
5 g A-O
1,182,000 Oct 1 1923
($1.000).......... c*tf/Int. at First Sav. & Tr. Co., Milw., Trustee.
Sheboygan Elec ref& impt M, ( 1916 5 g J-J
1,580,500 July 11946
g ($1,000 & $500)___ c*tf\ Interest payable in Milwaukee or N. Y.
5%
101,500
1926
Sheb Ry & Electric.............
B O N D S . — $2,997,500 East. Wise. Elec. Co. 1st & r f M. 5 % bonds are
o.
reserved to retiro prior liens. Additional bonds may bo issued for 75% of
the actual cost of permanent additions and Improvements under conservative
restrictions. Callable at 105 and int. on Mar. 1 1922 or any int. date there
after. Sinking fund : 1 % per ann. of bonds outstanding in 1922 to 1931;
lW °7 o 1932 to 1941; 2 % 1942 to 1946; to be used for retirement of bonds or
for exts. and addns. against which no additional bonds may be Issued.
Trustee, Wisconsin Trust Co., Milwaukee. V. 104, p. 1145.
Tho Eastern Wise. Ry. & Lt. Co. 1st 5s are red. on any int. date at 103
and int. on 6 months' notice. The Sheboygan Elec. ref. & impt. 5s are
callable at 105 and int. on July 1 1921 or any lnt. date thereafter. Sinking
fund 1 % por ann. of bonds outstanding In 1920 to 1930; 1 H % 1931 to 1940;
2 % 1941 to 1945; to be used for retirement of bonds or for exts. and addns.
Trustee. Wisconsin Trust Co., Milwaukee.
D iv i d e n d s . — Divs. on pref. stock were begun in Juno 1917- .
E A R N I N G S . — Combined statement of consolidated companies for 12
months ending Jan. 31:
„„„„
1917.
1916. 1
1917.
Gross earnings...*958,633 $860,809 BondInterest........... $204,100
Net.aft.tax.&maln. 411,222 346,4871 Balance--------------207,122
P R O P E R T Y . — Gas plant and 42 miles of gas mains in Fond du Lac;
electric-distribution systom and 3 electric-generating plants, combined
capacity of 6,500 h. p. in Sheboygan, Fond du Lac and Oshkosh; streot rail
way and interurban lines over 100 miles of single track. Tho greater part
of tho Interurban linos I laid chiefly with 70-lb. T ra l , and with the excep
s
is
tion of that portion from Oshkosh to Neenah and within city limits I located
s
on privato right of way. Additional 5,000 k.w. stoam turbine unit i to be
s
installed, and high-tension transmission lines will be built immediately.
Also hydro-electric powor sites on tho Wisconsin apd Wolf Rivers capable
of estimated development of over 20.000 h.p. A new gas plant at Fond du
Lac with a 500,000-cu. f . holder i to bo placed in operation between
t
s
JUOFFIOERS.— Pres!, Joseph H. Brewer; V.-P., R. H. Smith; Treas.,
Willis J. Ripley; Sec.. Blaine Gavett. Under management of Kelsey.
Brewer & Co., Grand Rapids, Mich.— V. 104, p. 1145; V. 106, p. 924, 1688,
2122.
SHREVEPORT, LA.
S H R E V E P O R T R A I L W A Y S CO.
^
,
O R G A N I Z A T I O N . — Successor of the Shrovoport Traction Co., tho franemses and properties of which company wore purchased In July 1914 by the
Shreveport R a ilw a y s C o . Shrovoport Trac. Co., in turn, succeeded the
Shreveport Belt Ry. Co. and Shreveport City RR., chartered in 1870, and
purchased the Highland Park Trac. Co. and the Shreveport City Suburban
Ry. Owns and operates entire street railway system in city of Shrovoport.
F r a n c h is e s . — In 1912 a franchises of the company were oxtonded until
ll
1954. All franchises are free from burdensome restrictions.
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
Stock $2,000,000.....-.... -.............. *1,000.000 — -..... 1st Msor gold bds $3,000,000/ 1914 5 g J-J
800.000
See text
($100, $500 & *1,000) c*tf(Int. at nibernia Bk. & Tr. Co., N. O.. trust.
B o n d s . — Red. at 103 and int. on or after July 1 1918. The $800,000
bonds issued mature in annual installments as follows (par value $1,000,
except for $50,000 of $500 bonds and $20,000 of $100 bonds due in 1944);
$10,000 1918 and 1919; $15,000 1920 and 1921; *20,000 1922 to 1927;
$25,000 1928 to 1932; $30,000 1933 to 1937; *25,000 1938 to 1942; $20,000
1943; $210,000 1944. Tho remaining *2.200,000 will fa l duo annually as
l
follows (par *1,000 except *100,000 of *500 bonds and *80,000 of *100
bonds due in 1944); $5,000 1925 to 1937; $15,000 1938 to 1942; *20.000
1943, and $2,040,000 in 1944. These remaining $2,200,000 bonds may be
certified and issued from time to timo for improvements, extensions, addi
tions, &c., undor certain restrictions (V, 99, p. 199). _____
_____,
REiPORT.— For yoar ending Dec. 31 1916, gross. *290.829: not, $92,785;
Interost, *45,432; surplus. *47.353. In 1915, gross. *243,151.
R O A D , &c.— Operatos about 31 miles of track; 60, 70 and 80-lb. r i .
al
Owns and operatos i s own power plant. 19 single truck and 19 double
t
truck passonger cars; 4 work cars and 1 mlsc. car.— V. 99. p. 50. 199.
SIOUX CITY, IOWA.
S I O U X C I T Y S E R V I C E CO.
_
O R G A N I Z A T I O N , &C.— Incorporated on Juno 7 1905 In N o w Jersey.
In March 1909 increased capital from $250,000 to $2,000,000, in order to
acquire stock of Sioux City Traction Co. V.88,p. 1129. F r a n c h is e s of the
SHAMOKIN, PA.
Sioux City St. Ry. (succeeded by Sioux City TractioiB run for 50 years from
1889; other f r a n c h is e s run for 25 years from 1908. These latter are on the
S H A M O K I N & MT. C A R M E L T R A N S I T CO.
terms of 5-cent fares with transfers and 2 % of gross earnings aftor the city
O R G A N I Z A T I O N . — Is a consolidation in July 1906 of the Shamokln &
....
,
Mt. Carmel E le c tr ic R y . and the Ashland & Contralla Electric Ry. V. 83, has a population of 75.000.
Operates a l street railway lines In Sioux City, and sel s olectriclty and
l
l
p. 273.
F a r e I n c r e a s e . — In Dec. 1917 the Penna. P. S. C o m m . auth. an increase stoam heat for commercial purposes.
In fare between Shamokln, Kulpmont, Mt. Carmel, Centralla and Ashland
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity
from 5 to 6 cents.
Stock *2,000,000 ($100)
$2,000,000 ---------
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a tu r ity .
First & ref mtge *5.000,000/ 1910
5 J-J...... 1,376,000 Jan 1 1928
C o m m o n *700,000......................
$529,250
($1,000) gold______ c*tf (Illinois Trust Sc Sav. Bank, Chicago, trustoo.
261,850
Pref $300,000 6 % non-cum...............
Sioux City Trac 1st M $750.-1 1899
5 g J-J
750,000 July 1 1919
N e w mortgage*600,000.... / 1906
5%
415,000
1936
000 gold ($1.000).... _c*(lnt. at Bk. of Montreal, Chic, or N.Y.. trus.
(Penn. Co. for Ins. on L. & G. A.. Phila.. trus
B o n d s . — $750,000 1st Sc ref. bonds are reserved for prior lions, $2,759,000
E A R N I N G S . — For year ending Dec. 31 1917, gross, $197,961; net, after aro foradditions and Improvements at 75% of cost, and *115,000 have been
rotired. Rod. at 105 and Int. on any lnt. dato after 1915. S in k in g f u n d
taxes, $55,959.
in 1913, which by 1928 will aggregate $1,200,000. Intorest payable
R O A D . — Operates 19.8 miles of track between Ashland and Contralia. beganw York and Chicago. V. 90, p. 1555.
in N e
OFFICERS.— Pres., E. W . Samuel, Mt. Carmel, Pa.; Sec., Thos. M.
E A R N I N G S . — For 12 mos. ending M a y 31 1917, gross, $927,280: net.
Rlghter. Mt. Carmel, Pa.; Treas., W m . Keefer Jr., Mt. Carmel; Supt.. $314,341; int., taxes, &c., $149,955; surplus,*164,386. In 1915-16,gross.
A. Howard Thomas, Shamokln.— V. 94, p. 1628; V. 105, p. 2457.
*852,838; net, *320,050; int., taxes, &c., $150,389; surplus, $169,661.
R O A D . — Operates over 51 miles of track (of which 7 miles on private
right of way). 60 and 80-lb. r i s 89 cars.
al.
OFFICERS.— Pres., Robt. J. Dunham; V.-P.. I . A. Chotham; Sec.
I
SHAWNEE, OKLA.
Treas., J. H. RIckor: Gen. Mgr.. E. L. Kirk.— V. 99, p. 610.
SHAVVNEE-TECUMSEH T R A C T I O N CO.
O R G A N I Z A T I O N . — Incorporated in Oklahoma on Feb. 13 1906.
F r a n c h is e s are perpetual and exclusive for 25 years.
SOUTH BEND, IND.
C H I C A a O S O U T H B E N D & N O R T H E R N I N D I A N A RY.— Trolley
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
road.
*500,000 .....
Stock $500,000 (5100)________ ___________
O R G A N I Z A T I O N . — Incorporated In Indiana In Jan. 1907 as successor
First mortgago $1,000,000/ 1906
5 g J-D
300,000.
1926
($1,000) gold........ c*(lnt. at Equitablo Trust Co., N. Y., trustee. to tho Northorn Indiana Ry.. which had consolidated tho Indiana lty., the
South Bend La Porto & Michigan City Ry., tho Michigan City Electric Co.
B o n d s . — Can be called in 1916 at 105. N o sinking fund.
and tho
Co. F r a n c h is
' E A R N I N G S . — For 12 mos. ending Dec. 31 1917, gross, $51,645; net, Goshon, Michigan City Traction and Michigan e perpotual In Mishawaka,
South Bend. La Porte
City: in Elkhart oxpiros In
*9,414. In. 1916, gross. *49,918; net, after taxes, *1,798.
1957. .Operatos a l local electric lines in above cities and the interurban
l
R O A D . Operates 12 miles of track in Shawnee and between Shawnee and line joining them.
—
_
,
,
M a tu r ity .
Tecumseh. Standard gauge. 60 and 70-lb. T r i .
al
STOCK A N D BONDS—
D a te .
In terest.
O u ts ta n d in g .
OFFICERS.— Pres. & Treas., Louis K. Hyde; Sec., W . M . Outllp; C o m m o n $5,000,000 ($100)...............
$5,000,000
Mgr., R. D. Long.
2,500.000
Pref *2,500,000 5 % cum
($100) after Jan 1 1909--2,489.000 Jan 1 1937
N e w first mtge $5,000,000 1907 5 g J-J
SHEBOYGAN, WIS.
gold ($1,000)......... tf Int. at Central Trust Co., N. Y., trustee.
E A S T E R N W I S C O N S I N E L E C T R I C C O.
588.000 Jan 1 1936
Nor Ind Ry 1st cons M $4, 1906 5 g J-J
000,000 gold (Sl.OOO)---tf Int. at U. S. Mtge. Sc Trust Co., N o w York.
O R G A N I Z A T I O N . — Incorp. Feb. 21 1917 to take over the properties
1-.000.000 Jan 1 1930
s
of tho Sheboygan Electric Co., the Eastern Wisconsin Ry. & Light Co. and Indiana Railway fir t mort 1901 5 g J-J
gage $1,000,000 gold (*L- Girard Trust Co., Philadelphia, trustoo.
the Wisconsin Electric Ry. (See "Elec. Ry.” Section for Jan. 1917). Owns
Interest at Standard Trust Co., N e w York.
and operates the electric-lighting, power and street railway systems In She
5 g J-J
312,500 July 1 1930
boygan and Fond du Lac, gas in Fond du Lac, street railway in Oshkosh, La Porte & Michigan City Tr 1905
first mtge $350,000 ($500) Interest at First Trust & Savings Bank,
and about 70 miles of Interurban lines connecting Sheboygan and Elkhart
Chicago, 1 1
1.
sinking fund subj to call-tf
Lake, Fond du Lac and Oshkosh, Oshkosh and Neenah, and Oshkosh and
Ma y , 1918.|
Bonds.— On the Indiana R y . 1st 5s a sinking fund o f $10,000 por annum
boga n J a n . 1 1905: bonds to bo bought In open m arket. Are not subject to
call. Northern Indiana 1st consols aro subject to call. See V. 82, p . 568.
On tho La l’ orto & M ich igan C ity Traction C o. bonds a sinking fund o f 1%
per annum o f bonds out Is operative from 1910 to 1914: from 1915 to m a
turity, 2 % per annum. O f tho now first m ortgage bonds, S491,000 are in
troasury, $1,900,500 are reserved to retire prior liens, and $118,500 for
Improvements.
The Indiana R y . 2d M . 5% bonds, due A ug. 1 1924, wero called for p ay
m ent on Feb. 1 1917 at 105 and Interest.
E A R N IN G S .— For yoars ending D ec. 31:
Year—
123
ELECTRIC RAILWAYS
G ross.
N et.
O th . I n c . T a x e s .
In te r e s t. S u r p . or D e f .
1917..................$791,956 $220,361 $95
$34,722 $227,489 d e f.$41,755
1916.................. 863,693
347,020 541
34.246
233,512 sur. 89,812
R O A D .— Operates 119 miles o f track In South B end, M ishawaka, E lk
hart, Goshen, La Porto, M ichigan C ity and interurban linos between thoso
points. Gaugo, 4 ft. 844 in.; 70 to 100-lb. T rail. Owns 109 cars and
11 sub-stations.
O F F IC E R S .— Pres., Charles F. D ieterich, Now Y ork; 1st V .-P ., C . M .
M u rd ock, Lafayette; V .-P . & Gen. M g r., T . F. G rover; Treas., A . E .
Dletorich; Sec., S. T . M urdock; Gen. A u d ., G . V . Carrier; Purchasing
A gent, It. E . Cornw ell.
S O U T H E R N M IC H IG A N R A I L W A Y .— A trolley road.
Is controlled b y same Interests as C hic. South Bond. & N orthern Indiana.
O R G A N IZ A T IO N .— Organized on F eb. 8 1906 as a consolidation o f the
South Bond & Southern M ichigan R y . and the N iles & Buchanan R y .
Franchise In St. Josoph expires in 1935; In Berrien Springs in 1935; in Niles
In 1932, 1935 and 1936; in South B ond, perpetual.
3TOOIC A N D B O N D S —
Date.
Interest. Outstanding.
Maturity.
Stock $2,000,000---------- -----------------------------$2,000,000 -----------------First consol m tgo $1,980,000? 1906
5 g
400,000 M ar 1 1931
gold ($1,000)_____ ______t f l l n t . at 0 . S. M tg o. & Trust C o ., N ow Y ork .
South Bond & Sou M ichigan [ 1902
5 g A -O
750,000 O ct 1 1927
first m tgo $750,000 gold! Interest at Harris T rust & Savings Bank.
($1,000 guar p & l ) - - _ c » t f I C hicago, trustee.
Bonds.— O f tho $1,980,000 consols, $750,000 aro rosorved for prior lions
and $750,000 for bottorm ents and extensions. These bonds aro subjoct to
call on any int. date at 105. The follow ing amounts aro payable annually
into a sinking fund from M arch 1 1909 to F eb. 28 1915; 1% o f bonds ou t
standing, from M arch 1 1915 to Feb. 28 1925.144 % o f bonds out; and from
M arch 1 1925 to Fob. 28 1 9 3 1 .2 % o f bonds out. Tho So. Bond & So. M ich ,
bonds aro not subj. to call. $5,000 per ann. L payable into a sinking fund on
s
these bonds, com m encing Jan. 1 1907. See V . 82, p . 1158. and V . 83. p . 493.
E A R N IN G S .— For 12 months ending D ec. 31 1917, gross, $234,299;
not, $105,247. In 1916, gross, $233,437; net, $106,948. In 1915, gross,
^ ^ f o A D . — Operatos a lino from South Bend to St. Josoph. T otal track,
35 miles. Standard gaugo; 70-lb. T rail. H m 12 m otor cars, 2 baggage
and express cars and 4 sub-stations. Gonoral Electric and W cstinghouso
equipm ent. Purchases power.
__ , _ _
O F F IC E R S .— Pres.. Chas. F. Dieterich, N ow Y ork: V .-P ., Chas. M .
M u rdock; Troas., A . E. Dieterich, N ow Y ork; S ec., S. T . M u rdock; V .-P .
and Gen. M g r., T . F . Grover; A u d ., G . V. Carrier; Purchasing A gent,
R . E . C ornw oil.— V . 83. u. 493.
SPARTANBURG, S. C.
S O U T H C A R O L IN A L IG H T . PO W E R & R A IL W A Y S C O .
O R G A N IZ A T IO N .— Incorporated in M ass. Juno 21 1912 as a consolida
tion o f tho Spartanburg R y ., Gas & E loc. C o. and tho E lectric M fg . & Powor
O o. Does tho ontiro electric light and power, gas and street ry. business In
Spartanburg and tho ontiro eloctric light and power buslnoss in G affnoy,
Cowpons, W oodruff, Blacksburg, Pacolot, C lifton and Convorso, S. O .;
also oporates an interurban lino to Glondale and C lifton, a distance o f about
10 miles. Has tho right o f eminent dom ain (confirm ed b y tho Stato Su
preme C ou rt). Franchises contain, it is stated, no objectionable restric
tions and run beyond M a y 1 1937 or aro unlim ited as to tlm o.
STOCK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
C om m on $3,500,000 ($100)................
...................$2,500,000 ---------- --------P ref 6 % cum $ 1 ,5 0 0 ,0 0 0 ($ 1 0 0 )-----Q-J
700,000 A p r'1 8 , 1 44
First m ortgago sinking fun di 1912
5 g M -N
3.497,000 M ay 1 1937
$5,000,000 gold ______ c*tf\ N ow Y ork Trust C o ., N ew Y ork, trusteo.
Stock.— Preferred stock ls preferred as to assets and dlvs. R od. at any
tlm o at 115 and accrued dividends. Tax-oxem pt in M assachusetts.
Bonds.— Additional bonds m ay bo issued only for tho acquisition o f
proporty, extensions, & c., under conservative restrictions. O f tho am ount
roported outstanding $155,000 is held in tho troasury. Int. payablo in
N ew York and London. D enom . $1,000 (£205 9s. 8 d .l. Sinking fund of
1% o f bonds outstanding, to retire bonds or for oxtonsions and additions,
began N ov . 1 1915. R od. at 105 and int. on any int. date. V . 96, p . 136.
Dividends.— Dividends at tho rate o f 6 % por annum on the prof, stock
aro being paid regularly.
E A R N IN G S .— For 12 m onths ending D ec. 31:
Cal.
Gross
N et (after
Bond, & c., Pref. D ies. Balance,
Year—
Earnings.
Taxes).
Interest.
(6 % ).
Surplus.
1 9 1 7 .................$523,613
$192,579
$172,632
$42,000 dcf.$22,053
1916.................. 433.983
178,705
153.006
42,000
lO ^ O l
P R O P E R T Y .— Owns and oporates 21 miles o f city and interurban street
railway; standard gauge. 65 and 70-lb. T rail. 21 cars. Hydro-electric
plant has generating capacity o f 12,000 h. p. Im provem ents now boing
m ade will increase capacity abou t 1 4 % . Auxiliary steam power plant.
4,500 h. p. Gas plant has a capacity o f 250,000 cu bic foot dally.
O F F IC E R S .— Pros.. P. O . Dossier. N . Y .; V .-P . & Gen. M g r., F. H .
K n ox. Spartanburg; Sec. & T rea s., F. B . Lasher, N . Y .— V. 106, p. 1124.
SPOKANE, WASH.
S P O K A N E & IN LA N D EM PIRE R A IL R O A D C O .
In D oc. 1909 Groat N orthern R y . acquired con trol. V. 89. p. 1598.
O R G A N IZ A T IO N .— Incorporated In W ashington Jan. 15 1906, and Is a
consolidation o f tho Coour d ’Alene & Spokane R y ., tho Spokane Traction
C o ., tho Spokane Term inal C o. and the Spokane & Inland R y . N . W
Harris & C o ., Harris Trust & Savings Bank and E . II. Rollins & Sons
offered tho bonds for sale. Has a llgnt and power franchise in Spokane.
Transports all kinds o f heavy and light freight tra ffic, as well as passengers,
and exchanges freight with steam roads.
As to possible lease o f linos in Spokane to or consolidation with the W ash
ington W ater Power C o., see that com pany below .
Fares.— In Jan. 1918 filed with tho W ash. P. S. C om m , a now faro
Bchcdulo, offoctivo Feb. 1 1918, increasing tho rato for school tickots to
4 conts each and discontinuing the salo o f 11 tickots for 50 cents and 110
tickots for 5 dollars. V. 106, p . 500.
STOCK A N D BON DS—
Date.
Interest. Outstanding. Maturity.
C o m m o n $ 1 0 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) .....................................................$ 1 0 , 0 0 0 , 0 0 0
Proforred rights $10,000.0001
($100), 5 % (soo te x t)..........I -------
,
_
Q-J
............................
6,409.100 O ct2 0 '0 7 ,l 44
F ir s t a n d r e f u n d i n g m o r t g a g e r 1 9 0 6
5 g M -N
3 ,6 8 8 ,0 0 0 M a y 1 1 9 26
$ 1 5 ,0 0 0 ,0 0 0
g o ld
( $ ! , - ( I n t . a t F ir s t T r u s t & S a v ., C h ic a g o , tr u s to e ,
or at First N ational Bank, N ow Y ork.
0 0 0 ).................................. c * t f
5 g J-J
108,000 Soo text
Spokane Trac 1st M $1,000, 1905
000 gold ($1,000)____ C&rtf Int. at T ltlo Guar. & Trust C o .. N . Y ., trus.
O d ’A & S 1st M $500,000 g 1903
5 g J-J
442,000 Jan. 1 1929
($100, $500 & $ l,0 0 0 ).c * t f Int. at Title Guar. & T r. C o ., N . Y ., trustee
5 g F-A
201,000 Soo toxt
Spokano Term inal 1st mtgo 1905
$500,000 gold ($500 and Interest at First Trust & Sav. Bank, Cht____________ ______f
cago. trusteo. or at First N at. Bank. B ost.
* 1 .0 0 0 )______
cU
Bonds.— O f tho $15,000,000 first and refunding bonds, $989,000 are re
served to rotiro $751,000 bonds o f tho subsidiary com panies and $10,000,000
for 75% o f cost o f permanent oxtonsions and additions, but only when tho
not earnings for tho precoding 12 m onths have boon at least twice tho annual
Intorcst chargo on all bonds outstanding and to bo Issued. Aro subjoct to
call from M ay 1 1911 to N o v . 1 1915 at 10744 and Int.; thereafter at 105 and
Int. Ono por cent o f bonds outstanding is payable to a sinking fund from
1911 to 1915, 144% from 1916 to 1920 and 2 % from 1921 to 1925. Soo
V . 83, p. 1291, and V . 86, p. 721. $348,000 havo boon retired. Tho Spo
kano T rac. C o. bonds aro duo $10,000 annually from July 1910 to 1914 at
105 and Int.; $15,000 annually July 1915 to 1924 at 105 and Int.; remaining
$700,000 on July 1 1925 at par and Int. Bonds aro subjoct to call as an
entlroty at 105 and int. on 60 days' notice. V . 81, p. 841. Tho Spokano
Terminal C o. bonds mature $12,500 on A ug. 1 from 1910 to 1929 incl. and
$100,000 on A ug. 1 1930. T ho unissued bonds raaturo in 1930 and are
•ubjot to call at 105 and Int. On the Coour d ’Alene & Spok. R y . bonds a
tin k .fd . o f 5% o f not earnings ls provided. Bonds are subj. t o c a lla t 105&lnt.
Pref. rights became cum ulative after Jan. 15 1911. After 5 % paid on
com m on stock, the pref. rights are to share ratably with the com m on stock
up to 7 % but not higher. Preferred rights can be redeemed at any tim e at
$135 per share and have no vote.
Dividends.— First dividend on p rof, rights— 1 44 % — was paid Jan. 20 1906
and l'A % was paid A pril, 144% July and 144% O ct. 1907. N one since.
R E P O R T .— For year ending D e c. 31:
Year ending
Gross
N et (after Other
Interest,
Balance,
Dec. 31—
Earnings.
Taxes). Incom e.
<Hc.
D eficit.
1917— .................. ........ $1,324,481
$34,267 $4,668 $500,937 $462,002
1916.................................. 1,370,348
109,162
4,616
473,731
359,953
ROAD. — Operatos 292.359 miles o f track (single, double, sidings and
spurs), Including lines in Spokane and to Coour d ’Alono and H ayden Lake
on tho east; to C olfax, Palouse, W ashington and M o sco w , Idaho, on the
south: and an extension from Greenacres on Coeur d ’Alono Division to
Liberty Lake. Outside o f Spokane the road Is in accordance with standard
steam railroad specifications. C om pany owns valuable passenger terminal
and o ffice building in the heart o f Spokane and freight terminal located
botwoon tho Great N orthern and N orthern P acific terminals, and has
physical connection with all roads entering Spokano. A lso owns a h yd ro
electric plant o f 20.000 h .p . capacity 9 miles below Spokane.
O F F IC E R S .— Pres., L. O. Gilm an, Portland, Ore.; V .-P . & C o m p ..
W . F . Turner, Portland; V .-P . & T raffic M g r., W aldo G . Paine, Spokane;
Sec. & T reas.. W . G . D avidson, Portland: Gen. S upt., A. J. D avidson.—
V. 101, p. 1367; V . 103, p. 1688; V . 105, p. 1999; V . 106, p. 500, 2118.
T H E W A S H IN G T O N W A T E R P O W E R C O .’S S Y S T E M .— S p o k a n e
S tre e t R a ilw a y . & c .
O R G A N IZ A T IO N .— Chartered In W ashington M a r .13 1889 for 50 years.
Owns all o f tho property form erly belonging to the follow ing com panies:
Big Bond Power C o.
Ross Park Street R y . C o .
C ity Park Transit C o .
Spokane Cable R y . C o.
Edison E lectric Illuminating C o .
Spokane C o. E lectric C o.
Falls C ity Land & Im provem ent C o.
Spokano E lectric R y . C o .
Arlington Heights M o to r R y . C o .
Spokane Street R y . C o .
Post Falls W ater Power C o.
Owns tho ontiro capital stock o f the Idaho-W ashlngton Light & Power
C o ., acquired July 1 1913, and the St. Maries L t. & P . C o . V . 97, p . 523.
Owns all tho water pow er on the Spokane R iver at Spokane, W ash., in
cluding form er property o f Spokane Falls W ater Power C o .; also water
pow or a t L ong L ake and Little Falls, W ash., and at P ost Falls, Id aho.
C om pany oporates the electric-light and power systems in Spokane, H illyard, Pullm an, U nlontow n, C olton , Palouse, G arfield, Farm ington, Oakesdalo, T ek oa , C olfax, Latah, Spangle, E ndicott, St. John, E lberton, B el
m ont, D iam ond, Reardan, D avenport, H arrington, Sprague, R itzville,
L ind, Odessa, W ilbur, Alm ira, Creston, H artline, R ock ford , Johnson and
G ov a n , all o f W ashington, and in St. M aries, M oscow , Genesee and Osborne
in Id aho. Also supplies power for operation o f other cos. at N ew port, M ed i
cal Lake and Cheney in W ashington and Post Falls, R athdrum , Coeur
d'A lene, W allace, Wardner and Kellogg in Idaho. In N o v . 1917 entered
into a contract with the Chicago M ilw . & St. Paul R y . to furnish power
for the operation o f its trains on the western extension o f tho electrified
section o f tho road over the R ock y M ountains. T ho co . expects to begin
supplying powor to:th e railroad in the summer o f 1919.
Franchises for electric-lighting and power in Spokane run to June 1 1934.
Street railway franchises o f various lengths. Franchises In small towns
various longths, 25 to 50 years.
In 1917 the C ity C oun c i l o f Spokano, W ash., denied the c o .’s petition for
cancellation o f ordinance provisions for franchise taxes and maintenance o f
pavem ent between tracks.
On M arch 15 1910 Increased authorized capital stock from *10.000.000
to $15,000,000 and on D ec. 2 1913 to $20,000,000. V . 97, p. 1505.
E arly In 1917 the W ashington Legislature passed an A ct em powering the
c o . to tako over by lease or consolidation tho lines o f tho Spokane & Inland
Einpiro R R . in Spokano. T h e A ct, it ls understood, will be availed o f.
If at all, only after the Spokano & Inland Em pire R It. has set its affairs in
order. Com pare V. 105, p. 1999.
Fares.— In Jan. 1918 filed with tho W ash. P . S. C om m , a new fare
schedule, effective Feb. 1 1918. increasing tho rato for school tickets to
4 cents each and discontinuing tho salo o f 11 tickets for 50 cents and 110
tickots for,5:dollars. V. 106, p. 500.
In Feb. 1918 Issued $2,670,000 1-yr. notes to refund an issue o f 2-yr.
notes, duo Feb. 2 1918 and to pay in part for a d d ’ns. V. 106, p. 1345.
1-yoar notos $2,670,000______ 1918
6 Q-F
S2.320.000 Feb 2 1919
STO C K A N D BON DS—
Date. Interest.
Outstanding.
M aturity.
Stock $20,000,000 ($100)__________
Q-J
$15,490,000 A p r ’ 18 1%
1st consol m tg and collateralf 1899 5 g J-J
239,000 July 1 1929
trust, $2,000,000. gold ( Interest at Franklin Trust C o .. B rooklyn,
($1.000)_____________ c*&r l
N . Y ., trustoe.
1st ref m tge, $15,000,000 g l 1909 5 J-J
6,117,000 July 1 1939
($1,000)______ c* & r* c p t /I n t . at Farmers’ L . & T r. C o ., N .Y ., trustee.
1-yoar notos $2,670,000______ 1918 6 Q-F
2,320,000 Feb 2 1918
Bonds.— O f tho $15,000,000 refunding & ext. m tge. bonds, $239,000 aro
rosorved to retire 1st m tge., $3,120,000 aro pledged as collateral under
tho 1-year notes (see a bov e), $3,900,000 aro for additions and extension
at not to exceed 50% o f cost and $3,900,000 are in troasury;S944,000 have
been canceled b y sink. fund. Sinking fund o f 2 % per annum o f bonds out
began Sept. 1909 for purchase o f bonds at not exceeding 110 and in t., but
bonds cannot be drawn. Bonds are redeemable as a whole a t option o f com any at 110 and int. V . 88, p .5 4 . 1003. Bonds are listed on N . Y . Stock
ixchange. V . 89, p. 1544: V. 104. p. 1900, 2120.
N o t e s . — Tho 1-yr. notes aro securcd^by a deposit o f $3,120,000 1st &
R ef. M tgo. 5 % bonds.
Dividends.— In 1900. 3 % : in 1901. 4 % : in 1902, 5 % ; In 1903. 6 % ; in 1904.
8 % ; 1905 to 1910, in cl., 7 % per annum. In 1911, 714% . In 1912 and
1 9 1 3 ,8 % . In 1914, 7 1 4 % . In 1915, 5 14 % . In 1916, 4 1 4 % . In 1917.
4 % . In 1918. Jan .. 1 % ; A p r., 1 % .
R E P O R T .— For years ending D ec. 31 (1917 report in V. 106, p. 1789):
, ,
Total
Net (after Bond
Depre- Profit
Divs.
Balance,
■ , Receipts.
Taxes). Int. &c.'.ciation. & Loss. Paid. Sur. or D ef.
Year__
$
$
$
$
$
$
S
1917___2,833,191 1,392,327 431,909 325,000 cr.2,096 619,600 sur. 17,914
1 9 1 6 --.2 ,6 8 5 ,0 2 4 1,356,355 429,547 325,000 dr.7,633 658,325 def.04,150
1915___2,750,485 1,510,980 444,030 325.000(Ir. 18,293 851,950 def.28.293
Passengers carried (city lines only) 1917, 17,305,047, against 15,601,850 in
1916 and 15,714,753 in 1915.
R O A D .— System consists o f 110.93 miles o f track. C ity lines occupy
44.96 miles o f stroots. Standard gauge; 60 to 107-lb. T . rails. Does a
freight business under special franchise. Operatos 638 miles o f high-tension
transmission lines. Owns hydraulic power plants as follows: 12,000 h. p .
at Spokane; 15,000 h.p . at Post Falls, Idaho; 27,000 h .p . at Little Falls,
W ash., com pleted in 1911. In 1915 com pleted first half, 33,000 h .p . o f
an ultimato installation .o f 66,000 h. p. at Long Lako, W ash. A new
22,500 h. p. unit is oxpectodjto bo com pleted in tho fall o f 1919. V . 106,
p. 398, 500, 716, 1345, 1789.
O F F IC E R S .— Pros., D . L. H untington; Chairman o f E xec. C om m . &
V .-P ., W . J. C . W akefield: V .-P . & Gen. M g r., II. L. Bleecker; Sec.,
A . F. S. Steele; T reas., Y . M . W hite; A u d ., P. H ayw ard.— V . 105, p. 1999;
V. 106, p. 398, 500, 716, 1345, 1789.
E
SPRINGFIELD, MASS.
S P R IN G F IE L D S T R E E T R Y .— See New England Investm ent & Securi
ties C o . under W orcester.
________
SPRINGFIELD, MO.
S P R IN G F IE L D R A IL W A Y & L IG H T C O .— See Federal Light & T ra c.
C o . under N ew York C ity .
SPRINGFIELD, OHIO.
S P R IN G F IE L D & X E N IA R A IL W A Y C O .
O R G A N IZ A T IO N .— Incorporated in A ug. 1906 to succeed the Spring
field & X on ia R y ., which was organized In 1904 to succeed the Springfield
& X en ia Traction C o ., which had been sold under foreclosure. V. 83, p. 214.
S T O C K .— C om m on, auth. and issued, $300,000: preferred, 5 % cu m .,
auth. and issued, $300,000. Par. $100. $1,200 o f each class held In treas.
Dividends.— First d iv . on pref., 4 % , was paid O ct. 1 1908. In 1909.
5 44 % : in 1910, 4 54 % : 1911. 8 1 4 % . In 1912. 6 4 4 % . In 1913. M a r..
144: Juno, 144% : 8 e p t., 144% : D e c., 144% regular and 2 % extra, which
paid accumulations In full to Jan. 1 1914. In 1914 to 1917, incl., 5 % .
In 1918, M a r., 144% . Initial dividend on com m on o f 2 % paid D ec. 1913 .
In 1914, 1915 and 1916. 3 % . In 1917. D ec. ,2 % .
124
ELECTRIC RAILWAYS
E A R N IN G S .— For year ending D ec. 31 1917, gross, $83,735; net, after
taxes, $20,572. In 1916, gross, $79,080; net, after taxes, $22,882.
R O A D .— Operates 20 miles o f track connecting Springfield and X en ia
R alls, 70-lb. T ; five cars.
O F F IC E R S .— Pres.,Warren Blcknell. Cleveland; V .-P ., G eo. A . C oulton;
Sec. & T reas., Chas. S. Thrasher; Oper. M g rs., T he Warren Blcknell C o.
V . 99, p . 1911; V . 100, p . 643; V . 101, p . 2072; V . 105, p. 2367.
S P R IN G F IE L D T E R M IN A L R A I L W A Y & P O W E R C O .
O R G A N IZ A T IO N .— Successor In N o v . 1916 to the Springfield T ro y &
PIqua R y ., which was Incorp. April 20 1903. T he railroad is on private
right o f w ay except in cities and tow ns. Franchises expire in 1928.
STO CK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
S t o c k ___________________________ _____________
$350,000 ...................1st M tg e $350,000 gold ($500/ 1916 6 g J-D
250,000
See text
a n d $ l,0 0 0 )___________ c*tf| In t. at Central T ru st C o . o f 111., C hicago.
Stock.— T h e Springfield T roy & PIqua R y . was financed b y its officials;
$70,000 stock was issued to com p ly with law requiring issue o f 10% o f au
thorized am ount. In 1917 the Ohio P . U . C om m , authorized and the co.
Issued $280,000 stock to reimburse (together with tho $250,000 bonds
shown above) the estate o f Asa S. Bushnell for .advances. V . 103, p . 1981.
Bonds.— The bonds m ature $25,000 Dec. 1 1920, $35,000 D ec. 1 1921 to
1925 and $50,000 D ec. 1 1926. R ed ., all or part, on any int. date a t 102
and int. Rem aining bonds m ay be issued on ly for 8 5% o f cost o f perma
nent betterm ents and additions. Central Trust, C o . o f 111., and W m . T .
A b b o tt, C h ica go, are trustees. V . 103, p . 2079.
E A R N IN G S .— For year ending June 30 1916, gross. $128,343.
R O A D .— Operates 30.46 miles betw een Springfield and T ro y , O .; began
operating In July 1904; Including second track and sidings. 33 miles. Rails.
60 and 70-lb. T . Standard gauge. Power plant ca p a city , 1,700 li.p .
O F F IC E R S .— Pres., F re d .J . Green; S ec., G . A . K ohler. General office,
Springfield, O hio.— V. 103, p. 2079: V. 105, p . 291.
SPRINGFIELD, VT.
S P R IN G F IE L D E L E C T R IC R Y .— A trolley road.
Receiver.— In M a y 1918, Judge n . II. Blanchard o f Springfield, V t.,
Treasurer o f tho com pany, was appointed receiver, following default on
tho $100,000 1st M . bonds duo N o v . 1 1917. V. 106, p. 2124.
O R G A N IZ A T IO N .— Length o f road, 6 p j miles (9 miles o f track) from
Springfield, V t., to Charlestown, N . H . Freight and passenger road.
Carries freight In standard cars.
Capital stock, com m on (auth.), $75,000. all outstanding: 6 % pref. stock.
$25,800; 1st M . for $100,000of 5 % gold $500 and $1,000 coupon bonds dated
N o v . 1 1897, due N o v . 1 1917; int. M . & N . at N ational Hhawmut B ank,
B oston; floating d obt June 30 1917, $110,122.
E A R N IN G S .— For year ending Juno 30 1917, gross, $89,229; net,
$11,717. In 1915-16, gross, $86,328; net, after taxes, $25,306; other in
com e, $1,232; gross incom e, $26,538. Pres. & G en. M g r., E . C . C rosby
V .-P ., M . A . C oolidge; Treas., H . II. Blanchard; S upt., A . J. C rosby
— V . 64, p. 1043; V. 70, p. 793; V. 106, p. 2124.
STATEN ISLAND, N. Y.
RICHMOND LIGH T & RR. CO.
O R G A N IZ A T IO N .— This com pany was form ed as a reorganization on
A ug. 18 1902 o f the Staten Island E lectric R R ., N ew Y ork & Staten Island
E lectric C o. and the Richm ond C ounty Power C o. Owns tho entire capital
o f tho N ew Jersey & Staten Island Ferry C o. For terms o f reorganization
and com plete statement o f plan, see V . 74, p. 1091. Franchises aro perpetual.
Transfer Decision.— On April 28 1911 C ourt o f Appeals rendered a d eci
sion requiring the exchange o f transfers between M anor R oad line o f the
S. I. M id . R y . and connecting lines o f R . L . & R R . V . 92. p. 1179.
Merger D e n i e d . — The N . Y. P. S. C om m , on M a y 10 1917 denied the
application for auth. to merge this c o . and the Staten Island M idland R y .
under the title o f Staten Island Light & Traction C o. V . 104, p. 1900.
In June 1917 applied to P. S. C o m m . for auth. to increase fare from 5 to 6c
S T O C K A N D B O N D S .—
Date.
Interest. Outstanding. Maturity.
...................$2,871,750
_________
Stock $3,000,000 ($100)......................
First collateral trust m tge.l 1902
4 g J-J
2,200,000 July 1 1952
$2,500,000 gold --------------t f /I n t . at Guaranty Trust C o ., N . Y .. trustee.
Bonds.— $300,000 are reserved for the acquisition o f new property.
E A R N IN G S .— For years ending June 30:
Year.
Gross.
N et (aft. T a x.). Other In c. In t. & Rents. Surplus.
1 9 1 6 - 1 7 ____ $429,752
$87,413
$217,555
$164,165
$140,803
1 9 1 5 -1 6 ------ 407,550
101,124
203,915
155,264
149,775
R O A D .— M iles o f track, 32.05; 90-lb. girder Cam bria and 85-Ib. girder
Johnson steel rails; 36 passenger cars.
•
O F F IC E R S .— Pres., C . W . H otchkiss, 55 W all S t., N . Y .; V .-P . &
G en . M g r., R . L . R and; S ec., J. E . Phillips.— V . 105, p . 607.
STATEN ISLAND MIDLAND RA ILW AY CO.
O R G A N IZ A T IO N .— Incorporated in N ew Y ork on Jan. 16 1907 as a
reorganization o f the Staten Island M idland Railroad C o. sold under seques
tration proceedings on Jan. 3 1907.— V . 84. p . 222. .
Transfer D ecision.— See under R ich. L t. & R R . above. V . 92, p . 1180.
M erger Denied.— See R ichm ond Light & R R . C o. above.
In June 1917 applied to P .S . C om m , for auth. to Increase fare from 5 to 6c.
STOCK A N D BON DS—
Date.
Interest.
Outstanding.
Maturity.
Stock $1,000,000 ($100)..........................................
$1,000,000
S I M id RR 1st m tg $1,000.- 1896
-----“
" "
-------------5 g J-J
1,000,000 Jan 21 1926
000 gold ($1,000)____ c * t f In t. at Farm ers’ L . & T r. C o .. N . Y ., Trustee
E quip trust ctfs Ser A $135. 1915
6 g J-J
94.500.
Soo text
000 ($500) _ o ld ..........c*& r (Interest at Bankers Trust C o ., Trusteo.
g
____
Bonds.— Sinking fund after 5 years but bonds cannot be called.
T he equipm ent trust certfs. mature $7,000 each Jan. 1 and $6,500 each
July 1, beginning July 1 1915. T h oy are subject to call at 102 and Interest.
8ecured b y 32 double-truck closed cars.
E A R N IN G S .— F or years ending June 30:
.
Year—
Gross.
NetCaft.Tux.)
Other In c. In t. & Rents.
Deficit
1 9 1 6 -1 7 ____ $341,623
$8,049
$2,854
$70,903
$60,000
1 9 1 5 -1 6 ____ 343,069
32,880
4,003
63,940
27,057
R O A D .— Owns 28.68 miles o f track
Rails 65 to 70-lb. T and 90-lb.
girder. 41 passenger cars.
O F F IC E R S .— Pres.. O. W . (Hotchkiss. 55 W all S t.. N . Y . C ity ; Sec.,
A . M . Stillwell, N ew B righton, N . Y .— V . 99, p. 1452: V . 104. p. 1900.
STOCKTON
CAL
C E N T R A L C A L IF O R N IA T R A C T IO N C O .— An electric road.
O R G A N IZ A T IO N .— Organized in California in A ug. 1905 to construct
an interurban system o f electric roads for passengers and froight in tho cen
tral valleys o f California. R oad operates over private right o f way,
except in tho cities. Franchises in all tho cities o f tho system tun for 50
years. A n additional froight and passenger franchise was awarded com
pany In M a y 1909 for C ity o f Sacramento. An assessment o f $5 a share
was called for paym ent Feb. 20 1908. V . 86, p. 667. In Jan. 1918 another
assessment o f $5 per share was levied on both classes o f stock, delinquent
F eb. 25 1918, to provide additional equipment, im prove trackage and
restore tho com p any’s credit b y reducing floating debt. Tho necessity for
this action was ascribed to years o f unprofitable operation d u o /to jitney
com petition, which is now regulated. Seo V. 106, p. 497.
On M a y 8 1911 shareholders voted to increase auth. stock to $4,000,000.
o f which $3,000,000 Is com . and $1,000,000 pref. V . 92. p. 955.
Lease.— T ho C al. R R . C om m , in M arch 1915 authorized the com pany to
lease Its lines in S tockton to the S tockton E lec. R R . at a rental o f $12,500
a year for first 3 yrs. and $15,000 yrly. for next 35 yrs. V. 100. p. 1167.
Operating Agreement.— Early in 1916 entered into an agreement with the
T idew ater Southern R y . providing for the joint operation o f tho tw o lines
as one system . T he separate corporate existence o f each, how ever. Is to
be m aintained. V . 102. p. 1250.
Plan to Reduce Interest, & c.— Holders o f tho 1st M . 5s liavo signed an
agreement reducing the int. rate from 5 % to 2 % for tho years 1917, 1918
and 1919 and waiving default in int. and also tho sinking fund provision.
C om pare V. 106. p. 497.
Outsfandino.
Maturity.
S 'l o C K A N D B O N D S —
Date.
Interest.
C om m on $3,000,000 ($100)......................................
$2,675,300 ....................
Prof $1,000,000 ($100) 6 % c u m .......
..............
1.000,000 ....................
First m ortgage $1,500,000/ 1906
5 g A-O
_________ April 1 1936
, _________
1,492.000
($1,000) gold sink fu n d .t f lin t , at Union Trust C o. o f San Fran., Trus.
Bonds.— Sink, fund on 1st M . bonds began In 1912 with $15,000 per year
for 10 years, $30,000 per year for tho succeeding 10 years and $45,000
per year for remaining 4 yoarq. Bonds aro red. on any int. day at 105 and
Int. on 60 days’ notice.
[Vol. 106
E A R N IN G S .— For the 11 months ending N o v . 30 1917 tho com pany
reported a profit o f $6,011, after all deductions, against a loss o f $88,101
during tho corresponding period in 1916.
R O A D .— Operates in the city o f Stockton and an interurban line from
Stockton through L odi to Sacramento. T otal track operated, 70.8 miles,
n a s operating agreement with Tidewater Southern R y ., whereby tho tw o
lines are oporated as one system . C om pany carries W ells Fargo express
m atter.
O F F IC E R S .— P res., Alden Anderson: V .-P s ., M . Fleishhackor, G eo. W .
Peltier and H . Floishhacker; Sec. & T reas., A . N . Baldwin; Gen. M g r.,
C . H . R obertson. Office, 233 Post St., San Francisco.(V.106, p.497, 1797.
S T O C K T O N E L E C T R IC R R .
O R G A N IZ A T IO N .— Incorp. D ec. 29 1891 In C alifornia. Southern P a c.
C o. owns the entire $500,000 stock except directors’ shares. N o bonds
outstanding.
Lease.— For lease o f the Central California Traction C o .’s linos in Stock
ton. see that com pany above.
>
E A R N IN G S .— For years ending D ec. 31:
Year.
Gross.
N et.
Other. In t., Rents, &c. Bal., Sur.
1917--------- $240,802
$53,459
$4,124
$15,143
$42,440
191 6 ______ 226,060
28,973
1,997
15,530
15,440
R O A D .— Operates 25.51 miles o f track. Standard gauge. 23 cars.
O F F IC E R S .— Pres., Paul Shoup; Sec. & A u d ., II. A . Culloden; T rea s..
M . S. W ado; M g r., Frank W . W ebster. O ffice. Los Angeles, C al.— V . 70.
P. 159; V . 100, p . 643. 902: V . 102, p . 1626.
TIDEWATER SOUTHERN RY.
O R G A N IZ A T IO N .— Incorp. on M ar. 11 1912 as a consolidation o f the
projected Tidewater & Southern R R . (V . 93, p. 1790) and T idew ater &
Southern Transit R y . It Is proposed to construct a 227-milo lino from
Stockton to Fresno via T urlock, including branch lines, o f which 50 miles
between S tockton and T urlock com pleted and In operation.
Stock.— $1,705,703 stock , o f w h ich $30,000 is preferred, is outstanding In
the hands o f the p ublic. In D ec. 19l6 tho C al. R R . C om m . auth. the co.
to Issue $600,000 stock at n ot less than 80, the proceeds to be used to extond
its line from H atch to Irwin C ity , C al., 8 m iles, for froight terminals In
M odesto and for other im pts. V . 104. p . 164. In Jan. 1917 tho R R .
C om m . auth. tho co. and Pres. Byron A . Bearce to term inate tho special
trust created for $2,000,000 o f com m on stock to cover control during the
construction poriod by freeing therefrom 250,000 shares and returning the
remaining 1,750,000 shares to the treasury. T he 250,000 shares aro to
be hold in a special trust and be withheld from sale for 5 yoars. V. 104, p.
665. Tho co . has applied for permission to exchange com m on stock, share
for share, fo r the $30,000 pref. stock outstanding. In 1918 tho W estern
P acific R R . purchased $600,000 o f this com p any’s stock and, it is stated,
has agreed to buy tho $500,000 bond issue auth. in M a r. 1918.
P u r c h a s e . — In N o v . 1914 purchased from the M odosta & Empiro T rac.
C o. tho lino o f their railway from M odesta to Em pire, taking ovor at the
same time all freight agreements with the Santa Fe road. V . 99, p . 1452.
Assessment.— An assessment o f 10 cents per share was lovlod on stock
holders, delinquent O ct. 4 1915. In 1917 an assessment was levied on ail
delinquent stock equal to tho am ount unpaid, delinquent April 21, salo date
M a y 10 1917.
Operating Agreement with Central California Trac. Co.— Soo remarks
under that com pany above.
V a l u a t i o n . — Early in 1916 tho reproduction cost, loss depreciation, o f
tho operative proporty was fixed b y tho Cal. R R . C om m , at $623,377, and
o f tho non-operative proporty at $90,166. V. 102, p . 1250.
In M a r. 1918 was auth. b y tho Cal. R R . C om m , to issue $500,000 1st M .
5% bonds, duo in 1942, at not less than 80; proceeds to pay in part for
construction work. V. 106, p. 1345.
S T O C K A N D B O N D S—
Date.
Interest.
Outstanding.
Maturity.
________
See text
___________
S to ck $5,000,000 ($ 1)______________
First m ortgage $4,000,000/ 1912 5 g A -O 15
$750,000 A pr 15 1942
gold ($500 & $1,0 00 )___tf(U n lo n Trust C o ., San Francisco, Trustee.
B o n d s . — First m tge. bonds are issuable at $20,000 por m ile.
Subj. to
call at 103 on any int. d a y. Sinking fund 2 % o f bonds out O ct. 15 1916 to
O ct. 15 1921, and 3 % o f bonds out O ct. 15 1922 to O ct. 15 1941, which will
retire bonds at m aturity. Int. at com pany’s o ffice or in N ow Y ork.
R O A D .— Has constructed and electrified 50 miles between T urlock and
Stockton and has graded and is building 9 miles from H atch to Hitman
and 5 m . from Turner to M anteca. Operates a 2-hour passenger service bes
tweon S tockton , A tlanta, Escalon and M od esto. A lso has 6 m . o f track west
o f Turlock to H atch. Has contract for power with Sierra & San Fran. Power
C o , Under agreement with Contral California T raction C o . tho tw o proper
ties are operated as one system . Also has tra ffic agreements with the
Western P a cific, California N a v. & Im p. C o ., South. P acific and tho A tch.
T opeka and Sauta Fe for the interchange o f passengors and freight.
E A R N IN G S .— F or year ending June 30 1916, gross, $79,865; net, after
taxes, $2,645; deductions, $24,467: loss, $21,822.
O F F IC E R S .— Pres., Byron A . Bearce: V .-P ., K . O . Bruoclc: Sec. and
T reas., W . C. Peck. O ffico. 25 So. Sutter S t., Stockton, C al.— V . 102,
I>. 1250; V . 103, p. 1793; V. 104, p. 164, 665; V . 106, p. 1345.
STREATOR, ILL.
IL L IN O IS V A L L E Y G A S & E L E C T R IC C O .
This com pany was merged on N ov. I 1911 into tho P ublic Service C o. or
Northorn Illinois, which see in our “ R y . and Industrial” Section.
SWANSEA, MASS.
SW AN SEA & SEE K O N K S T R E E T R Y .
O R G A N IZ A T IO N .— Incorp. in M ass, on N o v . 5 to take over and oper
ate tho property o f the form er Providence & Fall R iver Street R y ., which
had boon sold for junk on Sept. 12 1917 to Karl Aiulren o f B oston, but re
sold to a com m ittee representing tho residents o f tho towns through which
tho line ran. Operations were begun N o v . 8 1917. Faro through tho town
is 6 cents flat, and for the tim e being, at least, no transfers will bo issued.
S T O C K .— A uth. and Issued, $100,000. Par o f shares, $100.
R O A D .— 10.85 miles o f track between R . I . lino. East Providence, and
Swansea-Somerset town line in Mass.
O F F IC E R S .— Pres. E m ery C . K ellogg, Swansea; V .-P res., Willard O.
Gardner, Swansea; T reas., Charles W . Greene, W arren, R. I.; Sec., H arbert
II. M arble, Fall River, M ass.; Supt., J. II. H earn.— V. 105, p . 2095.
SYRACUSE, N. Y.
EMPIRE STATE RR. CORP.
O R G A N I Z A T I O N . — I n c o r p . In N o w Y o r k O c t . 2 7 1 9 1 7 a s s u c c e s s o r
t o t iie E m p i r e U n i t e d R y s . , I n c . , s o ld u n d e r f o r e c lo s u r e p o r p la n in V . 1 0 4 ,
p . 863; V . 105, p. 999.
T h o n e w c o . t o o k o v e r , s u b je c t t o u n d e r ly in g b o n d
is s u e s t h e S y r a c u s e L a k o S h o r e & N o r t h e r n a n d A u b u r n & N o r t h e r n d i v i
s io n s .
T h e R o c h e s te r S y r a c u s e & E a s te r n d iv is io n w a s s e p a r a t e ly r e o r
g a n i z e d a s t h e R o c h e s t e r & S y r a c u s e R l t . ( w h ic h s e o b e l o w ) .
F a r e I n c r e a s e .— Tn J a n . 1 9 1 8 a n n o u n c e d v a r io u s fa r o in c r e a s e s , i n c l u d i n g
a n a d v a n c e f r o m $ 1 2 5 t o $ 1 3 8 fo r r o u n d t r ip t i c k e t s b o tw o o n S y r a c u s e
an d O sw ego.
I n F e b . 1 9 1 8 a p p l i e d fo r a u t h . t o in c r e a s e f a r e s t o 1 0 c e n t s
in O s w e g o a n d F u l t o n .
S T O C K A N D B O N D S .—
Dale.
Interest. Outstanding. M aturity.
C om m on $1,500,000 ($ 1 0 0 )--- ____
P ref " A ” 6 % cum $1,000,000
_________$1,450,000
( $ 1 0 0 ) .............- .....................................................................................
--------------
2 5 0 ,0 0 0
- - - > .............
1 ,2 5 0 ,0 0 0
................... -
Pref B 6 % non-cum $1,250,000
( $ 1 0 0 ) _____________________________
_____________ ________
3-yr notes $500,000 (S I,000) |
1917 6 M -N
350,000 N ov 1 1 9 2 0
c * t f ) l n t . at Equltablo T r. C o ., N . Y ., T rustee.
Equip T ru st, Series “ A ” gold : 1915
6 g J-D
21,200
Seo text
($100, $500 and $1,0 00 )- - - / I n t . at Guaranty T r. C o ., N . Y ., T rustoo.
S yra cu se L a k e Shore
N o r t h e r n R R .—
1st m ortgage $2,500,000 gold
1907 5 g M -N
2,500.000 M a y 1 1947
( $ 1 , 0 0 0 ) - ........................ _ _ c * t f / l n t . a t C o l u m b i a T r . C o . . N .
A u b u r n & N o r t h e r n E lec tr ic R R . —
1st mortgage $1,000,000 gokll
1905 5 g M -N
Y . , T ru ste e .
250,000 M ay l 1945
( $ 1 , 0 0 0 ) - ..............................c * t f ( I n t . a t E q u l t a b l e T r u s t C o . , N . Y . , T r u s t o o .
S lo c k .— S e r ie s “ A ” p r e f . s t o c k is r e d e e m a b le a t 1 0 5 .
S e r ie s “ B ” , a l t e r
i t h a s r e c e iv e d 5 y e a r s ’ c o n s e c u t i v e d i v i d e n d s a t t h o fu l l r a t e o f 6 % , Is
e n t i t l e d t o r a n k p a r i p a s s e w i t h o r b e c o n v e r t e d i n t o S e r ie s “ A . ”
O f th o
$ 2 5 0 , 0 0 0 s e r ie s “ A ” r e p o r t e d o u t s t a n d i n g $ 5 0 , 0 0 0 is h e ld in t r u s t b y t h e
R e o r g a n i z a t i o n C o m m i t t e e t o r e t ir e m o r t g a g e n o t e s .
T h e c o m m o n fa n d
s e r ie s “ B ” p r e f . s t o c k s a r e h e l d in a 5 y e a r v o t i n g t r u s t .
!
Bonds.— T h e b o n d s o f t h o S y r a c u s e L a k o S h o r e & N o . R R . a r e s u D j e c t
t o c a ll s i n c e M a y 1 1 9 1 7 o n a n y i n t . d a t e a t 1 1 0 a n d i n t . u p o n 6 0 d a y s ’
n o tic e .
N o s in k . fu n d .
T h o A u b u rn & N o r th e r n b o n d s aro s u b je c t t o
c a ll a t 1 1 0 o n a n y . in t e r e s t p e r io d o n 0 0 d a y s ’ n o t i c e .
N o sin k in g fu n d s .
Ma y , 1918. J
125
ELECTRIC RAILWAYS
Notes.— Tho 3-year notes aro subject to call as a whole at par on any int.
date. Pa. 4 mills tax refunded. O f tho $350,000 outstanding $150,000
aro held in trust b y tho Iieorg. C om m , to provide for construction and
equipm ent. The equip, trust certifs. mature $10,600 Juno 1 1918 and
1919; secured b y 12 P -A -Y -E cars, costing $52,980.
S Y R A C U S E & S U B U R B A N R R .— A trolley road.
In Feb. 1909 a syndicate headed b y M r. John J. Stanley o f C leveland. O ..
purchased the stock o f the Syracuse & Suburban. V . 88, p . 507.
O R G A N IZ A T IO N .— Chartered June 29 1895. Franchises are perpetual.
R O A D .— Operates from Syracuse t o Oswego, 37.8 miles. Oswego city
lines, 10.15 m .; Auburn to P ort Byi-on, 7.62 m .; Auburn city linos, 1.42 m .;
Fulton city lines, 0.6 m .; total length o f road, 57.59 miles; second track,
21.25 m .; car house and other sidings, 5.08 m .; total trackago 83.92 miles.
Gauge, 4 ft ., 8 H in. Rail, 70 and 90 lbs. 56 passenger cars, 4 express
cars, 2 work cars, 4 snow plows and 6 miscellaneous cars. Has contract
for power with Niagara L ockport & Ontario Power C o. Has 4 sub-stations
with a total capacity o f 2,900 k.w .
O F F IC E R S .— Pros., H . S. H olden, V .-P . and Gen. M g r., J. C . Nelson;
T reas., II. J. Clark; Sec. & Com ptroller, S. C . Stivers; A uditor, J. H .
Yoder; A sst. Sec., H. C . B eatty; Asst. Treas., J. B. H yland.— V. 105, p.
1801; V. 106. p. 189.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
Stock $400,000 ($100)______ _______
__________
$400,000
See text
First m tg $400,000 ($500 a n d / 1897
5 g F -A
400,000 A ug 2 1927
$1,000) g o ld --------------------- c l l n t . at Fidelity Trust C o ., P hila., trustee.
New cons m tg $550,000 ($500/ 1903
5 g M -N
150,000 M a y 1 1953
and $1,000) go ld _____c * t f lin t , at Fidelity Trust C o ., P hila., trustee.
Bonds.— O f the 1903 cons, m tg ., $400,000 are reserved for prior liens.
Dividends.— In 1915, 1 X % ; 1916, M % .
ROCHESTER & SYRACUSE RR. CO., INC.
O R G A N IZ A T IO N .— Incorp. In N . Y . Sept. 17 1917 as successor to the
Rochester Syracuse & Eastern R R . (part o f the E m pire United Itys., In c.,
system ) sola at foreclosure A ug. 28 1917 and separately reorganized as por
plan In V . 104. p . 2119. Overdue int. on the R och . Syr. & Eastern bonds
to and iucl. M a y 1 1917, amounting to $100 per $1,000 bond, was paid in
full. Bondholders w ho failed to deposit their bonds with tho reorganization
com m ittee, received $346 76 per $1,000 bond. See V. 106, p . 1231.
ST O C K S A N D B O N D S .—• Date.
Interest. Outstanding.
M atu rity.
Com m on S I,500,000 ($100)— ____
__________
S979.400 ___________
Preferred $3,000,000 ( $ 1 0 0 ) - - ____
6%
2,500,000 .....................
First mtgo con v $5,000,0001 1917
5 g M -N
2,500,000 M a y 1 lu57
($100, $500 & $1,000) g-C */T ru st& D ep. C o. o f Onondaga, Syracuse, tr.
Bonds.— Tho 1st M . 5s aro convertible Into prof, stock at par. $ for $,
botwoon M a y 1 1919 and M a y 1 1929; this privilege m ay be term inated by
tho co . in case o f merger or consolidation with any other co. under N . Y .
laws, or o f tho lease o f its property. T hey aro callaolo, all or in part, on
and after M a y 1 1922 at 105 and int. Tho remaining bonds m ay lie issued
for Iinpts., add'ns, exts., & c., under certain restrictions. Interest is p ay
able without deduction o f any taxes excopt inheritance and incom e taxes.
See V . 106, p. 87.
E A R N IN G S .—-For cal. year 1917; Gross, $829,416; net, after taxes and
depreciation, $224,162; incom e deductions, $78,375; applicable to bond int.
and d ivs., $165,787.
R O A D .— Operates a double-track line from Syracuso to R ochester, 80 m.
O F F IC E R S .— Pres., Arthur YV. Loasby, Syracuso, N . Y .; V .-P ’ & Gen.
M g r., T . C . Cherry; Treas.. YV. K . Zinsmeister S ec., M ercer V . W hite.
Allen & Peck. Inc., operate tho road.— V. 105, p. 1210. 1310, 1803; V.
106, p. 87, 1231.
S Y R A C U S E N O R T H E R N E L E C T R IC R Y .. IN C .
O R G A N IZ A T IO N .— Incorp. in N ew Y ork M a y 12 1917 as successor to
tho Syracuso & South B ay E lectric R R . and tho Syracuso W atertow n &
St. Lawrence R iver ItR ., b id in at foreclosure salo on N o v . 1 1916 b y the
reorganization com m ittee for $201,000 and $35,000, respectively. Sale
confirm ed in M arch 1917. T ho com pany was organized as per plan in
V . 103, p. 580, as m odified and approved b y tho P. S. C om m , b y an order
dated April 26 1917.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
M aturity.
C om m on $150,000 ($100)____ .............................
$150,000 .................
First prof $600,000 (8100)____ -----6%
480,000 .................
2nd pref $500,000 ($100).......... -----6%
420,000 .............. ..
First m tge $600,000 gold ($251 1917
5 g M -N
153,750 M a y 1 1946
$100 and $1,000).................. 1 Int. at T r. & D ep . C o .. o fO n o n .. S yr., trust.
Stock.— All classes o f stock havo equal voting power. Stock is held in a
fivo-year voting trust. T ho trustees aro A rthur YV. L oasby. W illiam N o t
tingham and Ferdinand W . R oebling Jr.
Bonds.— Aro subject to call in whole or in part on and after N o v . 1 1917
at 110 and int. Int. on $25 bonds p ayable M a y 1 only. Int. payable
without deduction other than Federal incom e tax.
E A R N IN G S .— For 8 m os. end. D ec. 31 1917. gross, $62,927; not. after
taxes, $17,810; int., & c., $14,083; surplus, $3,727.
R O A D .— Operates 12.18 miles o f siuglo track equivalent over private
right o f way from Syracuso to Oneida Lake, and a single track branch lino to
Breworton, 6.2 miles. Has traffic agreement with N ew Y ork Stato Rail
ways C o. to enter Syracuso. N ow road began operations April 26 1917.
85-lb. T r a il. Gauge, 4 ft. 8 H inches. 18 cars. A ll private right-of-w ay.
Power Is purchased from N iagara Lockport & Ontario Power C o. C om pany
through stock ownership o f Oneida Lake Term inal C o. owns 300 acres o f
lako frontage on Oneida Lake,
O F F IC E R S .— Pres., Talm adgo C . Cherry; V .-P . & T reas., YV. j . Ilarvio
S ec., II. C . B eatty.— V. 104, p. 2012; V. 105, p. 73, 499; Y 106, p. 1231.
r.
AUBURN & SYRACUSE ELECTRIC RR.—A trolley road.
O R G A N IZ A T IO N .— Organized Sopt. 30 1902 as a consolidation o f tho
Auburn C ity R y . and Auburn Interurban E lec. R lt . Franchise perpetual.
Financial Readjustment.— In April 1916 tho P. S. C om m . auth. an issuo
o f $437,000 6 % 5-year notes to refund the $250,000 1-yr. notes duo F e b . 1
1916. tho $150,000 18-mos. notes duo A ug. 1 1916, and for other corporate
purposes. As part o f this refinancing plan, tho com m on shareholders were
callod upon to surrender 3 5% o f tholr stock, which was distributed as a
bonus to subscribers to tho notes at tho rate o f 1 share o f stock for every $100
o f notes. T he stock so delivered was In tho form o f voting trust certificates,
and, together with sufficient o f the remaining com m on stock to constitute a
m ajority, was deposited under a voting trust agreement extending to Jan. 31
1921. Trustees aro nen drlck 3 . H olden, Arthur YV. Loasby and F . W .
Roebling Jr. V. 102, p . 1895.
In Fob. 1918 issued $292,000 1st & R of. M . 5s to take up existing ob li
gations and for extensions, &c.
STOCK A N D BONDS—
Date. Interest. Outstanding.
Maturity.
C om m on $1,250,000 ( $ 1 0 0 ) . . . ..................................$1,250,000 - - Pref 6 % n-cum $ 7 5 0 ,0 0 0 ($ 1 0 0 )____
Q-J 15
712,000
See toxt
Auburn & Syracuso first and f 1902
5 g A -O
1,752,000 O ct 11942
refunding mortgage $ 2 .-jln t . at Harris, Forbes & C o ., N ow Y ork .
000,000 gold ($ 1 ,0 0 0 ).c * t f(
Equitable Trust C o ., N ow Y ork, trustee.
Gold notes * 4 ^ .0 0 0 (Si.OOO. 1916
6 g F-A
97.000 Feb l 1921
$500 & $100) see toxt------ c\Int. at Trust & D ep. C o. o f Onondaga, Trus.
B o n d s .— O f tho $2,000,000 authorized, $218,000 is reserved for future e x
tensions, but only when not oarnings are double int. charges: subject to call
at 110 and Interest. See V . 75, p . 1201. Int. on notes Is payable without
deduction for taxes other than Fedoral Income tax. T hey aro rod. at par
and int. on any int. date on 30 d a ys’ notice. S60.000 paid o ff on A ug. 1
1917. V. 105, p. 605.
. ividends.— First divldond on preferred stock— 1 % —-paid N o v . 1 1904.
thon 1% Fob. 1 1905, M a y 1 1905 and A ug. 1 1905; N o v . 1 1905, 1J*%
paid (See V . 81, p. 1609). In 1906, 5 > i% ; 1907 to 1913 inch . 6 % per
annum. In 1914. Jan .. I U % ; A pril. 1 U % ; July, 1 ]A % . N on osln co . N o
I
dlvs. can be declared until tho notes or 1916 aro paid o ff. except with tho
~
consent o f tho voting trustees. V. 102, p. 1895.
E A R N IN G S .— For yoars ending D e c. 31:
Year—
Gross.
Net.
Taxes.
1917....................SG8G.403
$217,152
$24,074
191 6 .................... 568,217
145,927
21,103
In t., A c .
Surplus..
$98,896
$94,182
102,580
22,238
R O A D .— Oporates 41.16 mllos o f road (63.93 mllos o f tra ck), including
14.12 m . in Auburn and 27.1 m . from Auburn to Syracuso. Has trackago
agreement with Now York Stato Railways, allowing it to enter Syracuso.
Owns Lako Side l ark, about 33 acres, on Owasco Lako: 62 passenger cars,
1 parlor car, 3 express, 3 w ork, 1 service, 2 swecriors and 5 snow plows;
total, 77 cars.
O F F IC E R S .— Pros., Harold G . M etca lf. Auburn: V .-P ., Hendrick S.
H olden, Syracuse: V .-P ., T . C . C herry, Syracuse; T reas., A u d .a n d A sst.
Sec. L. E . Llpnltt, Auburn; S ec., II. O. B eatty, Syracuse; G on. M g r .,
R . YV. Palmer, A uburn.— V. 105, p. 605, 1308; V . 106, p. 188.
E A R N IN G S .— F or years ending D e c. 31:
Year—
Gross.
N et(aft.Tax) O th.Inc. Charges.
Dividends. Surplus.
1917_____S151.039
$39,841
$200
$34,111
_____
$5,930
1916--------- 144.521
42,508
371
; 34,019
2,000
6.860
R O A D .— Operates 18.52 miles o f track from Syracuse to Edwards Falls,
with branch from Orvill to Jam osville. Standard gauge; rails, 60 and 90
lbs.; 21 passenger and 5 other cars.
O F F IC E R S .— Pres. & G en. M g r., YV. J. Harvie; V .-P s ., C . Loom is
Allen and YV. P. G annon: T reas., Alan C . Fobes: S ec., YVillis H . M ichell;
A u d ., G . YV. A v e r y — V . 81, p . 1609; V . 106. p. 2011.
TAMPA, FLORIDA.
TAA1PA E L E C T R IC C O .
O R G A N IZ A T IO N .— Incorporated In F lorida on O ct. 31 1899. In
A pril 1913 purchased the T am pa & Sulphur Springs T ra ction a t foreclosure
sale. Does the entire electric railw ay, electric lighting and pow er business
In T am pa and operates an electric railw ay between T am pa and P ort Tam pa
and a line to Sulphur Springs. Franchise is fo r 999 years from 1899. $233,
800 stock is held b y the P ublic S ervice Investm ent C o .
Stockholders voted Jan. 8 1912 to increase stock from $1,700,000 to
$1,870,000. V. 93, p . 1601. In Feb. 1913 m ade a further increase to $2.
244,000 and in Jan. 1914 to $2,618,000. V . 98, p. 156. In A ug. 1917 in
creased stock to $2,879,800. Stockholders o f record Sept. 15 1917 were
given tho right to subscribe for the new stock p ro rata at par. V . 105, p.
1310.
STOCK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
S tockS2.879,800 ($100).......................
Q -F 15
$ 2 ,865,800 F e b .’ 18,2>4
1st m tge $2,000,000 ($1,000/ 1908
5 g . J-D
977,000 June 1 1933
and $500) g o ld _______ c H f /I n t . at Am er. Trust C o ., B oston, trustee.
Bonds.— Callablo as a whole (or In part for sink, fd .) at 105 and int. at
any time. $173,500 are in treasury. Sink, fund o f 1% o f bonds out
standing yearly, payable in August; $79,500 in sinking fund canceled.
Dividends.— 5 % semi-annually for several years up to N o v . 1907, when
a d iv . o f 2% was paid. In 1908. 7 % ; in 1909, 7 % ; in 1910, 8 % ; in 1911.
and since, 10% .
E A R N IN G S .— F or 12 m os. ending D e c. 31:
Y ear.
Gross.
N et (af. T a x .). interest. Sink. Fund.
Surplus.
$437,771
S46.970
S9.14S
$381,653
1917 - ............. S I,001,311
1 9 1 6 ________
967,086
439,368
43,573
8,842
386,953
R O A D .— Operates 52.71 mllos o f equivalent single track. Standard
gauge. 90 cars. Owns 2 amusement parks. Has steam pow er station
with 14,500 k.w . capacity and hydro-electric station with 600 k .w . ca p a city .
O F F IC E R S .— Pres., G eo. J. Baldwin; V .-P s., P. O . K night and Harry
H. Hunt; T reas., Henry B . Sawyer: S ec., Alvah K . T o d d : Gen. M g rs..
Stone & YY'ebster M g t. Assn.— V 104, p. 1900; V . 105, p. 820. 1310;
r.
V . 106, p. 397.
_____
TAUNTON, MASSACHUSETTS.
B R IS T O L C O U N T Y S T R E E T R AILYVAY.
Sale.— On N ov. 28 1917 Swift, M c N u tt & C o ., building wreckers,
B oston, purchased this com p any’s property at foreclosure sale at A ttleb oro,
M ass., for $110,000. V . 105, p. 1707, 2183. Press reports state that an
offort is being made b y tho A ttleboro Chamber o f Com m erce to prevent
tho junking o f that portion o f tho line within the city limits. Purchase o f
a portion o f the line b y the city o f A ttleboro is said to be under considera
tion.— V. 106, p. 2012.
__ ______
TEMPLE, TEXAS.
SOU TH YVESTERN T R A C T IO N C O .— A trolley road
Sale.— T he road was sold at acution on D ec. 18 1917 to F. F. Dow ns,
representing tho bondholders, for $10,000, subject to the follow ing bonds
(up to A pr. 25 1918 the sale had not been com pleted and tho road was still
being operated b y YV. G .-H aag, receiver):
BONDS—
Date.
Interest. Outstanding.
M aturity.
1st m tge $130,000 gold ($ 5 0 ,/ 1911
5 g A-O
S130.000
1931
$100 and $500)____ c * . n t f lin t , at Com m onw ealth T r.C o .,S t.L o u is,tru s.
Bonds.— Red. on any int. date at par.
E A R N IN G S .— F or calendar year 1917, gross, $39,705; net, after taxes,
$3,001. In 1916, gross. $41,028; net, after taxes, $3,030.
R O A D .— Operates 14.7 miles o f track between T em ple and B elton.
T e x ., with loop in each city . 60-lb. T rails. Standard gauge.— V. 106,
p . 87.
THOMPSONVILLE, CONNECTICUT.
H A R T F O R D & S P R IN G F IE L D S T R E E T R Y .— A trolley road.
O R G A N IZ A T IO N .— YVas form erly known as the Enfield & Longm eadow
Electric R y . (which was Incorporated on Feb. 11 1895), but In M a y 1901
stockholders voted to chango the name as above, and to reconstruct and
re-equip road. Connects with the Hartford Street R y . In H artford and the
Springfield Street R y . in Springfield, M ass. In June 1901 purchased the
East YVindsor Street R y . C o . Franchises perpetual. C ontrolled the Som
ers & Enflold Electric R y . C o ., which on April 1 1904 was merged in the
Hartford & Springfield Street R y . V . 78, p. 1446. Also purchased the
property o f the YVindsor Locks T rac. C o ., subject to its m ortgage. In 1905
the Legislature granted permission to Increase stock to $1.000,000 from time
to tim e, part to bo preferred, and also to extend time for construction until
July 1 1907. See V . 79. p. 2697. In July 1906 absorbed the R ockville
Broad Brook & East YVindsor Street R y ., which operated 14 miles o f track
from Warehouse Point to R ockville. V. 83, p. 213.
S T O C K A N D B O N D S—
Date.
Interest.
Outstanding.
M aturity.
C om m on $500,000 ($100)........................................
$500,000 _____ ______
Preferred $500,000 6 % non-1 ____
6 M -N
285.000 N o v '1 2 ,2 %
cum redeemable at 1 1 0 - - - /
First mtge $600,000 ($ 1,0 00 )/ 1901
5 g J-J
.
.
____
600.000 July 1 1921
g o l d __________________ c* tfiIn te re st payable at American Trust C o ..
1 B oston; Treas. o f C onnecticu t, trustee.
W indsor Locks 1st M $ 3 0 0 ,-/ 1904
5 g J-J
161,000 July 1 1924
000 g ($1,000) gu p &1-C*tf (Interest at Am erican Trust C o .. B oston
------------- E YVt '
- v
------------------------------ April 1 1926
R ockv B B & E W ind 1st m tgf 1906
5 g A-O
200,000
$300,000 g gu ($ 1 ,0 0 0 ).c* tf\ ln t.a tA m .T r.C o .,B o s .;T re a s.o f C onn..trust.
Bonds.— See V . 78. p . 122.3. T he YVindsor Locks bonds are guaranteed,
prln. and Int.. b y the H artford & Springfield Street R y .; $139,000 are re
served for additions and Improvements. Trustee, Treasurer o f State o f
C onnecticut. These bonds are subject to call at 110 and int. on any Int.
date. R ock v . Broad B rook & East YVindsor Street R y . bonds are guar.,
p. & !., by H artf. & Springf. St. R y . T hey are subj. to call at 110 &Tnt.
Dividends.— On pref. In 1906. 6 % ; In 1907, 6 % ; none to M a y 1910, when
1% was paid: N o v ., 2 %
In 1911, 5 % . In 1912, M a y , 2 % ; N o v ., 2 % .
N one since.
E A R N IN G S .— For years ending D e c. 31:
Year—
Gross.
Exp. A Tax.
Net.
Interest.
S u r .o r D e f.
1 9 1 7 - - ..........$244,057
$202,011
$12,046
S48.649
def.S6,603
48,539
s u r .ll ,691
1916________ 236.451
176,220
60,231
1915..............- 227.296
171,928
55,368
49,037
sur. 6,331
R O A D .— Owns 13 miles o f track from State line to East YVindsor
Hill, which was form ally opened on Jan. 15 1902, and 7.80 miles (form erly
Somers & Enfield Electric R y .) from Thom psonvllle to Somers. Also a Una
from Suffleld to a connection with the H artford Street Ity ., 9.70 m .. and a
line from YVarohouse Point to Broad B rook, 14.45 miles. Has trackage
rights in Hartford and Springfield, making total mileage operated. Including
sidings, 44.95 miles. Standard gauge. 56, 60 and 70-lb. T rail. 46 cars.
126
ELECTRIC RAILWAYS
O F F IC E R S .— Pres., Philip L . Saltonstall, B oston, M ass.; V .-P ., P . O.
Perkins, Hartford, C onn.; Sec. & Gen. M g r., J. M . M ellor, W arehouse
P oint, C onn.; Treas., G eo. S. W est, Boston, M ass.; A sst. Treas., Lester
E . Flint, B oston, M ass.— V. 91, p. 1160; V . 92, p . 1178; V . 96, p. 1297;
V . 100, p . 1 1 6 8 . _________ _____________
TOLEDO, OHIO.
TOLEDO BOW LINO GREEN & SOUTHERN TRACTION CO.
O R G A N IZ A T IO N .— Incorp. in 1901 as a consolidation o f tho Findlay
St. R y ., the T oledo Bowling Green & Frem ont R y . and the H ancock Light
& Power C o . o f Findlay, O. Form erly leased to the T oled o Urban & Intorurban R y .. but rental due April 1 and July 1 1908 having been defaulted,
lease was canceled.
_
_
,
T he entire property o f the T oled o Urban Sc Interurban R y . was sold on
A ug. 23 1909, under foreclosure, to the T oled o & Findlay R y . C o ., which
property was afterwards purchased b y T oled o Bowling Green & Southern
T raction C o ., and the latter com pany assumed its bonded d eb t. V . 88, p.
1439: V . 89, p. 105, 412.
In F eb. 1915 was granted a new franchise for 25 years In Findlay. The
old franchises had 10 years m ore to run, but were canceled.
In O ct. 1916 the Ohio P . U . C om m . auth. tho Issuanco o f $141,500 addi
tional 1st M . 5s for lm pts. and the discharge o f obligations. U p to M a y 1
1918 these .had not y et been Issued.
Fares.— On M ar. 20 1918 applied to the Ohio P . U . C om m , for au
thority to increase fares.
Outstanding.
Maturity.
STOCK A N D BONDS—
Date.
Interest.
$1,125,000
C om m on $1,500,000...................................... - - - - - _
750,000
See text
-Q-_F
P ref $750,000 (non -cum )-------- - -____
5 g M -N
1,018,500 May 1 1921
First m tgo $1,500,000 gold 1901
($1,000 and $500)-------- n tf Int. at Central Tr. & S. D . C o., Gin., trustee.
5 J-J
480,000 Jan 1 1936
T oled o Sc Findlay m ortgage 1910
$500,000 gold _________ n t f Union Sav. Bank Sc Trust C o., Oin.. trustee.
5 g J-D
275.000 Dec 1 1924
Findlay Street 1st cons mtge, 1899
$275,000 gold ................. n t f Centra’ Tr. & Safe Dop. C o., Gin., trustee
Int. at Metropolitan Trust C o., N . Y .
Bonds.— Of the bonds o f 1901. $275,000 are reserved to retire Findlay St.
R y. bonds. The Toledo & Findlay mtge. Is a first mtge. on the property of
the acquired Toledo Urban Sc Interurban Ry.
Dividends.— On pref., \ M % quar. from Aug. 1910 to and Including Aug.
1914. None since.
EARN IN G S.— For year ending Dec. 31 1917, gross, $486,101; net,
$166,176;isurplus, $46,758.
ROAD.— Comprises 71 % miles from Toledo to Findlay and Perrysburg.
80-lb. and 72-lb. T and girder rails. Owns 30 passenger and 3 express cars.
OFFICERS.— Pres., B. L. Kilgour; V .-P ., Chas. Kilgour; Sec. Sc Treas.,
A J. Becht; Asst. Sec. Sc Treas., Morris McGrew, all of Cincinnati; Gen.
M gr., Chas. F. Smith, Findlay. Offices, Findlay, O .— V.103, p. 1413.
T O L E D O F O S T O R IA & F I N D L A Y R A I L W A Y .
ORGAN IZATION .— Incorporated in 1900.
In Nov. 1916 purchased tho 11 K-mile line of the Lake Erie Bowling Green
& Napoleon R R ., between Pomborville and Bowling Green (bid in at re
ceiver's salo on Aug. 5 1916 by the bondholders— V. 103, p. 666, 1032. V.
103, p. 1889.
STOCK AND BONDS— Date.
Interest. Outstanding.
M aturity.
Stock common ($100)------------------' ------$700,000 ---------------Stock pref 5% cum ($100)...............
Q-J
800,000 See text
First mortgage $450,000 gold/ 1900 5 g A-O
370,000 Oct 1 1920
($1,000)
- ___________ c( Int. at Cleveland Trust C o., Cleve., trustee.
Bonds may be called at any time. Sinking fund began July 1 1905.
$80,000 bonds have been retired.
Dividends.— l \ i % is being paid quarterly on preferred stock.
EARN IN G S.— For calendar year 1917, gross, $257,099; net, after taxes,
$65,746. In 1916, gross, $238,040; net, after taxes, $88,233. In 1915,
gross, $208,088: net, after taxes, $84,234.
,
,
ROAD.— Operates 61 miles between Bowling Green, Toledo, Fostorla
and Findlay. Portions between Pembervllle and Toledo put in operation
,D OFFICERS.— Pres., H. C. Greer, Morgantown, W . Va.; V .-P ., C. C.
Fernsell Jr., Dover; Sec. & Treas., A. J. Krantz, Dover; M gr., E. Smith,
Fostorla— V. 78, p. 704; V. 103, p. 1889.
T O L E D O & IN D IA N A R A I L R O A D C O .— A trolley road.
ORGAN IZATION .— Incorporated In Ohio In Jan. 1911 and on June 29
1911 took over the Toledo & Indiana Traction C o. (V. 93, p. 230), assuming
all of latter’s liabilities, &c. The Toledo Sc Indiana Traction on Fob. 8
1910 was successor o f the Toledo & Indiana Railway, sold under foreclosure
on Jan. 18 1910. V. 90, p. 237, 448. M ost o f road Is on private right of
way. Franchises are perpetual except one for road crossings in Fulton
County, expiring In 1935.
STOCK AND BONDS—
Date.
Interest. Outstanding. M aturity.
Stock$1,040,000__________________
Q-J
$1,040,000
See text.
Tol & Ind Trac 1st mortgage/ 1911
5 g J-J
400,000 Jan 2 1931
$400,000 gold ($ l,0 0 0 )._c*(ln t. at Columbia Trust C o.. N .Y ., trustee.
Bonds.— Toledo & Indiana Traction 1st M . bonds are subject to call at
102H and Int. on any Int. date. V. 92, p. 1244, 1375.
Dividends.— Dividends at the rate o f 4% per annum were paid to and
Including Dec. 1916. None since.
EARN ING S.— For calendar year 1917, gross, $272,533; net, after taxes,
$44,587; bond interest, $20,000; surplus, $24,587.
ROAD.— Operates 55.91 miles o f track (of which'47.54 are on private
right of way) from Toledo westerly to Bryan. Enters Toledo over tracks
of Toledo Railways Sc Light Co.
_
„
„
OFFICERS.— Pres., D. D . Schenck; V .-P ., S. D. Carr; Sec., O. F.
Chapman Jr.; Treas., L. R . Schenck; Aud., O. B. Kloinhans; Gen. M gr.,
H. O. Warran, a llo f Toledo.— V . 93, p. 230, 287; V . 96. p . 1774.
TRENTON, N. J.
TRENTON & MERCER COUNTY TRACTION CORPORATION.
O R G A N IZ A T IO N .— Incorp. on O ct. 6 1910 in N ew Jersoy with $10,000;
stock ($100), Increased In N o v . 1911 to $400,000, o f which $200,000 is prof.
V . 93 p. 1260. On O ct. 15 1910 leased for 990 years Trenton Street R y .,
M ercer C ounty T ra c., Treu. H am . & Ewing T ra c. and Tronton Pennington
& H opew ell St. R y . at a rental o f $80,000 the 1st year, $82,500 tho 2d, $85,
000 the 3d . then Increasing $5,000 yearly until the m aximum o f $150,000
is reached.
In Jan. 1918 failed to p a y rental on tho Trenton Street R y . properties,
but was granted an extension o f tim e until April 1 1918 and.then to July 1
1918 in which to make paym ent.
On A u g. 2 1917 Judge Swayze in the Supreme Court at Trenton confirm ed
the decision o f the P . U . C om m , on D ec. 14 1915 that the withdrawal o f
the salo o f 6 tickets for 25 cents was not just and reasonable. V . 102, p . 68;
V . 105, p. 608. An appeal was filed In O ct. 1917 with the C ourt o f Errors
and Appeals. V . 105, p . 1709.
In June 1917 the P . U . C om m . auth. the Issue o f $66,000 5 % notes to
the M echanics N a t. Bank, T renton, for the purchasoof 10 new cars. V . 104,
p . 2344. In D ec. 1917 this order was m odified b y changing the interest
rate to 6 % .
_
Favorable Tax D ecision.— See V . 106, p . 1345.
Wage Increase.— Carmen in this c o ’s em ploy received a wage increase o f
2 cents per hour bringing wages up to 31 cents per hour, effective N o v :
8 1917.
E A R N IN G S .— For cal. year 1916, gross, $853,743; not, after taxes,
$326,108
In 1915, gross, $769,392; net. after taxes, $296,842.
R O A D .— Owns and controls b y lease about 72 miles o f track, com prising
all local street railway In Trenton and Interurban lines to Y ardvllle, T renton
Junction, Pennington, Hopewell, Lawroncevllle, Princeton and Hamilton
Square. T h e now tracks have 90-lb. Johnson girder rails.
O F F IC E R S .— Pres., Rankin Johnson.— V . 106, p . 1345, 1462.
(1) T r e n t o n S treet R y ,— T rolley. T h e United Pow er & Transporta
tion C o. owns 19,969 out o f the 20,000 shares o f stock outstanding.
Lease.— Is leased to T renton & M ercer C ounty T ra c. C orp . (see a b o v e ).
^ O R G A N IZ A T I O N .— Form ed June 29 1898 b y consolidation o f the T ren
ton Passonger R y ., M ulborry Street Passengor R y ., Pennington Aven-ie
Passenger R y . and Ewing Passenger R y .
On Juno 19 1899 tho M ercer C ounty Traction C om pany was form ed
with a capital o f $100,000 to enable the Tronton Street R ailway Com pany
[Vol. 106
to build an extension o f 11.42 miles Into Princeton and In tho city o f Tren
ton. T he entire stock is ownod by the Trenton Street R ailw ay. Is oper
ated as a part o f Tronton Street R y . system . In Juno 1903 acquired entire
capital stock($250,000) o f Trenton Pennington & H opewell St. I ty ., which
Is also operated as part o f the Trenton St. R y . System and whose bonds It
guarantees, p . & 1. A lso on M a y 1 1906 acquired entire capital stock
($200,000) o f the Trenton H am ilton & Ewing Traction C o ., operated as part
o f Trenton St. R y . System , guarantees its bonds, principal and Interest.
In A u g. 1911 Increased auth. stock from $1,000,000 to $2,500,000.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
Stock $2,500,000 (par $50) — .
$1,000,000 .....................
Trenton Passengor first m tge
120.000 1918-1925
$1,000,000 gold ($1,000 1891
($15,000 due y ly Sept. 30
6 g A-O
e a ch )___________________ c*
100.000 1926-1930
Interest at M echanics N a t.
($20,000 due y ly Sept. 30
Bank, T ren ton , N . J ___
650.000 Sop 30 1931
Consolidated m ortgage gold 1898
5 g J-J
1,115.000 July 1 1938
$2,000,000 ($1,000)____ c* Interest in Trenton and at Real E state T itle
Ins. & T r. C o ., Phila.; Girard T r. C o.,tru s.
Trenton „ St R y gen M $500,- 1911
--------- „
6 J-D
500,000 Juno 1 1941
000 gold ($1,000)______ c*(B ankers Trust C o ., N ew Y ork , trustee.
Guaranteed Bonds—
Trenton Pennington & H ope 1903
5 g J -D
350.000 June 1 1943
first m ortgage $350,000 In t. at F idelity Trust C o ., N ewark, trustee.
gold guaranteed__________
G uar., prin. Sc in t., b y Tronton Street R y .
Trenton Ham ilton & E 1st M
1905
5 g M -N
405,000 N o v 1 1955
$500,000 ($1,000) gold — c* In t. at R e a lE st. T . I . & T r. C o ., Phila.,trus.
M ercer C o T r 1st M $300,000 1904
5 J-J
300,000 July 1 1944
gold ($1,000) guar p Sc i .c * Real E st. T it. Ins. Sc T r. C o .. P hila., trustee.
Bonds.— $885,000 consolidated 5s o f 1898 are rcservod to retire first 6s<
Trenton St. R y . gen. M . bonds are su b j. to call at 105 & int. on any Int.
da y. V . 93, p . 797. M ercer C ounty T ra c., Trenton Pennington & H ope
well and Trenton Ham ilton & Ewing T ra c. bonds are guar. p . & i. b y end.
by T renton Street R y . V . 94, p . 826, 1696.
O F F IC E R S .— Pres.. John A . Rigg: Soc. & T reas., T . W . G rooket Jr.
— V . 93, p. 528, 797; V . 94, p . 828; V . 105, p . 2273; V . 106, p . 1901.
NEW JERSEY & PENNSYLVANIA TRACTION CO.—A trolloy road.
O R G A N IZ A T IO N .— Incorporated in New Jersey on N o v . 14 1901 aud
acquired tho T renton Lawrencevillo & Princoton R R ., the Tronton Lawrenceville & Princeton E xtension R R . and the Princoton Street R y .
On M a y 13 1913 the Trenton N ow IIopo & Lam bortvlllo St. R y ., Yardloy
M orrisvillo & Trenton St. R y . and the N ewtown & Yardloy St. R y ., for
merly ow ned, wero taken over b y tho Bucks C ounty Interurban R y . See
that com pany under “ N ew tow n, P a .” On M a y 15 1917 the co . transferred
$500,000 o f its $1,000,000 capital stock to tho Bucks C o . Interurban
R y . (now P a .-N . J. R y . C o .), tho other $500,000 being surrendered and
canceled.
Franchises are perpetual, except in T ronton, which runs to 1953.
Fares.— On F eb. 23 1912, ow ing to a C ourt decision, reduced faros from
Trenton to Yardloy from 10 to 5 cents. V . 94, p. 631. This decision was
reversed by tho Now Jersoy C ourt o f Errors and Appeals on N o v . 18 1912.
In Jan. 1913, in response to a petition b y tho receivers, the B oard o f Public
U tility Commissioners fixed the rate o f faro betwoon T ronton and Princoton
at 15 cents instead o f 10 cen ts, and on O ct. 10 1916 the B oard auth. an
Increase to 2 0 c., providing fo r 4 faro zones and continuing tho salo o f com
m utation tickets at 12 for $1. In F eb. 1918 applied for auth. to increase
fares from to 6 cents in each o f the 4 zones between Trenton and Princeton.
STO C K A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
Stock $500,000 ($100).....................- ........................
$500,000 ....................
First m tgo (See text) go ld ___( 1902
4 g M -N
600,000 N o v 1 1932
( $ 1 ,0 0 0 )_____________ c * t f (In t. at Tronton T r. Sc Safo D op. C o ., trustee.
T ho 1st M . was originally fo r $3,000,000, but has been closed at $600,000,
Stock.— The $500,000 reported outstanding is held b y the P a .-N . J.
R y. C o.
R O A D .— Comprises 13.25 miles, as follow s: N . J . Sc P . T ra c. In Tronton
and Larabortville, 1.70 miles; Trenton Lawroncovlllo & Princeton R R .,
9.56 miles; T ren . Law. & Princeton Extension R R ., 1.46 m ilos, and Prince
ton St. I ty .. 0.53 m ile. Gauge. 4. f t . 8 H in.; 70 and 80-lb. T rail and 90-lb.
girder.
E A R N IN G S .— For year end. D ec. 31 1917 (Princoton D ivision), gross,
$84,816: net, after taxes. $13,427. In 1916, gross, $80,811; net, after
taxes, $19,417.
O F F IC E R S .— Pres.. Sydney L . W right, P hila.; V .-P . & G en. M g r.,
Gaylord Thom pson, Trenton; Sec. Sc T reas., W alter T . B ilyou. Phila.—
V . 94. p . 417, 631: V . 95. p . 176; V . 96, p . 1557; V . 104, p . 257, 2641.
TROY, N. Y.
TROY & NEW ENOLAND RAILWAY.—A trolley road.
R oad passed Into hands o f receiver Jan. 3 l 1906. On July 1 1907 control
was acquired b y the D el. & Hudson interests, all Indebtedness was adjusted
and receiver discharged. V . 85, p . 100.
O R G A N IZ A T IO N .— Incorporated D e c. 17 1889. M ostly private right
o f w ay. Franchises perpetual.
STOCK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
Stock $350,000 ($100).................. — - .............
$180,000
See toxt
First m ortgage $160,000 g o ld ] 1895
5 g F-A
160,000 A ug 1 1945
$500 ______________________ \Int. at o ffice o f com pany, A lbany, N . Y .
R O A D .— T otal track, Including sidings, 9.15 miles; standard gaugo, laid
with 65-lb. rail; running from A lbia to A vorlll Park.
Dividends.— In 1910. Jan .. 4 % . In 1911. Jan., 4 % ; D o c ., 4 > * % . In
1912. D e c., 3 % . In 1913. 2 % . In 1914. 2 % . N ono since.
E A R N IN G S .— F or cal. year 1910 and yoar end. Juno 30 1916:
Year—
Gross.
N et. Oth. In c.C h gs.& T a x.
Deficit
1916 ............................. $34,259
$10,665
$289
$11,997
$1,043
1915-16______________ 32,735
7,619
375
11,839
3,845
O F F IC E R S .— Pres., L . F. Loree, N ow Y ork; V .-P s., W . II. Williams.
N . Y ., F. P . Gutolins and H . B . W oatherwax, A lbany; Asst, to Pros., W . B ..
Schofield, N . Y .; Asst, to V .-P ., G . H . Parker, N . Y .; Sec. & A u d ., W . II.
Elder; T reas., H . F. A th erton. A lbany; C o m p ., W . II. Davies, N . Y .
Gen. M g r., A . E . R eynolds, A lbany.— V. 83, p . 437; V . 85, p . 100.
TUSCALOOSA, ALA.
TUSCALOOSA RAILWAY & UTILITIES CO.
O R G A N IZ A T IO N .— Incorp. In Oct. 1915 as a consolidation o f the belt
railway form erly owned or controlled b y the Blrmlngham -Tuscaloosa R y .
& Utilities C o ., and tho Tuscaloosa Ice Sc L t. C o. T ho railway was operated
as a steam line until 1914. when it was extended and electrified; It is strictly
a belt and terminal railway, handling freight and passengers to and from all
railway n a tion s and has interchange tracks with all steam roads entering
Tuscaloosa: extends to the tow n or H olt; total miles operated, 14. Also
supplies without com petition electric light, gas and Ice to Tuscaloosa and
suburbs. C apacity o f c o ’s Ice plant, 60 tons per day; o f leased plant
31 tons per day; total daily capacity, 91 tons. The railroad franchise
Is perpetual and the gas and electric franchises are o f 30 years’ duration.
Has electric-lighting contract with the city o f Tuscaloosa. Power is pur
chased under long-term contract from the Alabam a P ow . C o ., the c o .’s own
plant being maintained as an auxiliary.
STO C K A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
Stock $300.000................................. - .......................
$300,000 — ................
First m tg $ 1,000.000 ($1,000./ 1915
6 g J-J
969,300 July 1 1940
$500 and $100) g o ld ..c * t f(R e p u b lic Trust C o ., Philadelphia, trustee.
Bonds.— Remaining bonds are reserved for exts., equip, and lm pts. at
8 0% o f cost. R ed . at 102 and Int. on July 1 1918 and auy Int. date there
after. See description o f bonds and peoporty In V . 102, p . 1898.
E A R N IN G S .— F or years ending D e c. 31:
Year—
Gross.
Expenses.
Net.
Interest.
Surplus.
1 91 7 ................. $229,486
$134,168
$95,318
$58,158
$37,160
1 91 6 .................... 208,963
117,849
91,114
54,972
36,142
— V . 103. p . 1 1 2 0 . _________ .
_
VICKSBURG, MISS.
VICKSBURd LIGHT & TRACTION CO.
O R G A N IZ A T IO N .— Incorp. In M iss, on July 1 1912, taking ovor the
Vicksburg T rac. C o ., Vicksburg L t. Sc P ow . C o ., Vicksburg Sc Y azoo T rac.
C o. and E lectric Power C o. Operates the entire street railway and electric
lighting business in Vicksburg and suburbs. Franchises In Vicksburg run
to (a) street railway, 1948; (6) lighting, 1946. For railway outside tho city,
has grant from United States G overnm ent.
Ma y , 1918.]
E L E C T R IC R A IL W A Y S
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
STO CK A N D BON DS—
S to c k $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )--------------- -----------------------$ 1 ,0 0 0 ,0 0 0 ------------------F irs t m tg e $ 1 ,5 0 0 ,0 0 0 g o l d / 1912
5 J -J
7 95 .00 0 J u ly 1 1932
an d $ 1 ,0 0 0 )____ c * t f\ I n t . a t C e n tra l T r . C o . o f 111., C h ic ., tru stee.
jr e b on d s $ 4 0 0 ,0 0 0 / 1912
6 J -J
278 ,00 0 J u ly 1 1922
g o ld ($ 1 ,0 0 0 )_________ c * t f l l n t . a t C e n tra l T r . C o . o f 111., C h i c ., tru stee.
— $ 70 5 ,0 0 0 1st m tg e . b o n d s are reserved fo r a d d itio n s a n d e x te n
sion s a t 8 5 % o f c o s t . R e d . a t 105 a n d In t. o n a n y ln t . d a te . V . 9 5 , p . 4 9 .
D eb en tu res are re d . a t 101 a n d ln t . o n a n y ln t . d a te . S ee V . 9 0 . p . 4 8 8 .
E A R N I N G S .— 12 m o n th s en d in g D e c . 31:
1917.
1916.
1915.
G ross ................................- .....................$ 1 9 8 ,8 8 8
$ 1 8 7 ,4 3 5
$ 16 7,392
N e t a fte r ta x e s --------------------------------- 5 9 ,2 68
7 2 ,1 0 8
6 3 ,3 50
R O A D .— O w ns a n d op era te s 11 m iles o f tra ck ; s ta n d a rd g a u g e ; m o s tly
8 0 -lb . T ra ils; 20 ca rs.
O F F I C E R S — P r o s ., W m . B . W a lte r , C h ic a g o ; V . - P . , J . N . M c C a llu m ;
See. & T r e a s ., I . O . E ls to n J r .; G e n . M g r ., E . S . M y e r s .— V . 9 5 ,; p . 4 9 ,
V . 9 6 . p . 2 8 7 , 4 88; V . 9 9 . p . 2 0 0 . 8 95 ; V . 103, p . 2 4 0 .
S
Bns
a d.
V IN C E N N E S ,
IN D .
VINCENNES TRACTION CO.
O R G A N I Z A T I O N .— V in ce n n e s C itiz e n s ’ S treet R y . p u rch a se d th e V in
cen n es T r a c . & L ig h t C o . in D e c . 1909 a n d ch a n g e d n a m e t o V in cen n os T r a c .
C o . N o w co m p a n y issued $ 35 0 ,0 0 0 s to c k a n d c a n c e le d all c o m . & p r o f, o f
V in cen n es T r a c . & L ig h t C o . e x c e p t 5 shares c o m m o n rep resen tin g ce rta in
ch arter an d fra n ch ise rig h ts .
e x p ire 1931.
STO CK A N D BON DS—
S t o c k ________________ - - - - - - - - - - - _ Q -J ____
$ 3 5 0 ,0 0 0 _ See text
1906
5 g M -N
3 5 ,0 0 0 J u ly 1 1923
V in T
L rer m tg e $60 0 ,0 0 0
($ 1 ,0 0 0 ) g o l d . . . ............... c * I n t . a t M e r c a n tile T r . C o ., S t. L o u is , trustee.
V ln C itiz e n s ’ S t R y 1st m tg e
1903
5 J -J
2 0 0 ,0 0 0 Jan 1 1923
$ 20 0 ,0 0 0 g o ld ($ 5 0 0 )-----c* I n t . a t C o lu m b ia T r u s t C o . , N . Y . , tru stee.
.— O f th o refu n d in g b o n d s $ 2 0 0 ,0 0 0 are re se rv e d t o retire V in cen n es
C itiz e n s ' S treet R y . Issue a n d $ 3 5 0 ,0 0 0 fo r im p r o v e m e n ts ; $ 15 ,00 0 are In
trea su ry o f c o m p a n y . S u b je c t t o call a t 1 0 2 )4 . N o sin k in g fu n d .
.— In itia l d l v .— H % — p a id O c t . 1910 a n d sam e a m o u n t q u a r.
t o an d ln c l. J u ly 1 1911.
In O c t. 1911 d lv . Increased a n d p a id
In
1912, J a n ..
A p r il,
J u ly ,
In 1913. O c t .,
In 1914.
J a n ., J f % : A p r il, ) 4 % . N o la te r In fo rm a tio n .
E A R N I N G S .— F o r c a l. y ea r 1913, g r o ss , $ 6 9 ,5 7 9 : n o t , $ 2 0 ,6 3 9 ; in te re s t.
$ 11 ,7 5 0 ; b a la n c e , $ 8 ,8 8 9 . N o la te r s ta te m e n t h as b e e n r e c e iv e d .
R O A D .— O p erates a b o u t 10 m iles In c i t y o f V in ce n n e s. 5 6 , 7 0 -lb . T rail.
S ta n d a rd g a u g e . V ariou s exten sion s h a v e been p r o p o s e d .
O F F I C E R S .— P r e s ., S . A . C u lb e r ts o n ; V .- P . & M g r ., 8 . S . B u sh ; S e c.
M . T . C a ld w e ll.— V . 8 8 . p . 1004.
F nh e
rac iss
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
&
Bns
od
Didns
iv e d
% ',
%
M;
%
& .l%
%A .
M.
%
V IR G IN IA ,
O R G A N I Z A T I O N .— I n c o r p . J u n e 27 1914 In M a s s , as a r e o r g a n iz a tio n
o f th o M e s a b a E le c tr ic R y . C o . o f M a in e a n d th e M e s a b a R y . C o . o f M in n .
I t a cq u ire d all th e p r o p e r t y o f th o s e tw o co m p a n ie s , a ssu m ed th eir o b lig a
tion s a n d n o w op era tes th e p assenger a n d fro ig h t e le ctric ro a d o n th o M e s a b a
Iro n R a n g e , M in n ., c o n n e c tin g th o to w n s o f n i b b in g , C h is h o lm , B u h l,
M o u n t a in I r o n , V irgin ia , E v e le tn , a n d G ilb e rt, a d is ta n ce o f a b o u t 35 m ile s .
R o a d Is o n p r iv a te rig h t o f w a y e x c e p t in t o w n s , w ith ste a m ro a d c o n s t r u c
tio n . P la ced in o p e r a tio n M a r c h 1 1913.
STOCK AND BONDS—
C o m m o n $ 2 ,5 0 0 ,0 0 0 ($ 1 0 0 )...............................................$ 1 ,5 7 5 ,0 0 0
..................
P f $ 1 ,2 5 0 ,0 0 0 ($100) 7 % (c u m ) . .
....................
6 8 5 ,0 0 0
..................
M e s a b a lt y 1st M $ 2 ,5 0 0 ,0 0 0 / 1912
5 g M -S
1 ,1 9 5 ,0 0 0 M a r 1 1932
g o ld ($ 1,0 00 ) sin k f d . _ c * t f l i n t , a t A m e r . T r u s t C o ., B o s t o n , tr u s te e .
— $ 30 ,00 0 In s in k in g fu n d . R e m a in in g b o n d s a re re s e rv e d fo r
fu tu r e a d d it io n s , im p t s ., & c . S u b je c t t o ca ll as a w h o le o r In p a r t fo r
s in k in g fu n d a t 105 a n d in t .
2 H % o f t o ta l b o n d s c e r t ifie d ,
b ega n J a n . 1 1917.
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
—
1 9 1 7 .....................$ 2 8 7 ,9 2 5
$ 12 0 ,3 4 3
$ 5 8 ,1 9 0
$20,791
$ 41 ,36 2
1 9 1 6 ....................- 2 4 9 ,1 0 4
13L 537
5 7 ,3 8 8
16,693
5 7 ,4 56
1 9 1 5 ____________ 2 0 1 ,0 3 8
87,071
57.181
9 ,3 3 4
2 0 ,5 5 6 .
O F F I C E R S .— P r e s ., O scar M itc h e ll; V .- P ., R . W . W a ts o n ; S e c ., A . S.
W h itin g ; T r e a s ., P . L . S alton sta ll; A ss t. T r e a s ’s , L . E . Flinfctand J . O .
B erges on ; C le r k , L o s te r E . F lin t; A ss t. S e c ., R o b t . H a y d o c k ’. G e n . M g r ..
L . W . H a y e s .— V . 9 9 , p . 120.
Dle In ret. Ots nin. Mtu .
a . te s u tad g a rity
Ya
er
Cmitte fo Gs e D . Me 5
o m e r ohn iv tg. s.
1st
— J . D . M o r t im e r , P re s . N o r t h
A m e r ic a n C o ., N . Y . , C h a ir m a n ; H . H . P h illip s , 2 09 S o . L a S alle S t ..
C h ic a g o , S e c .; C e n tra l T r u s t C o . o f I llin o is , C h ic a g o , d e p o s ita r y .
V . 1 01 .
p . 1976.
O R G A N I Z A T I O N .— E n tir e c o m m o n s t o c k Is h e ld b y d ir e c to r s .
aro fo r 60 y e a r s . L eases th e W in o n a & W a r sa w R y . ($ 1 0 ,0 0 0 s to c k
a n d $ 4 4 ,0 0 0 b o n d s ) , o p e ra tin g 4J£ m iles o f t r a c k , fo r 99 ye a rs fr o m J a n . 1
1910.
STOCK A N D BON DS—
C o m m o n $ 6 0 0 ,0 0 0 ($ 1 0 0 )____ ______
________
S ee te x t
____________
P r e f $ 6 0 0 ,0 0 0 6 % c u m u l a t i v e . ____
________
$ 1 5 0 ,7 7 5 ____________
G o s h e n D lv 1st M $ 7 5 0 ,0 0 0 / 1905
5 g J -J
_____________ _ 1 1925
7 5 0 ,0 0 0 J u ly * _____
g o ld ($ 5 0 0 a n d $ 1 ,0 0 0 )____ 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 .
P eru D iv is io n fir s t m o r t g a g e / 1906
A -O
1 ,5 9 3 ,7 0 0
O c t 1936
$ 2 ,0 0 0 ,0 0 0 g o ld ------------------- /U n io n T r u s t C o ., In d ia n a p o lis , I n d ., tru s te e.
.— G o s h e n D iv is io n b o n d s are a Hen o n ly o n t h e s e c tio n o f r o a d b e
tw een W a r sa w a n d G o s h e n . O f th e a m o u n t r e p o rte d o u ts ta n d in g , $ 5 2 ,0 0 0
a re u n so ld b u t u sed as co lla te r a l fo r lo a n s . A r e 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 te . P e ru D iv is io n b o n d s a re a l ie n o n ly o n s e c tio n o f r o a d
be tw e e n P e ru a n d W a r s a w . A m o u n t r e p o rte d o u ts ta n d in g in clu d e s $ 2 9 0 .
200 b o n d s s o ld a n d $ 1 ,3 0 3 ,5 0 0 u sed as c o lla te r a l fo r lo a n s.
E A R N I N G S .— F o r fisc a l y e a r e n d in g J u n e 30 1917, g r o ss , $ 2 2 4 ,9 5 6 ; n e t ,
a fte r tax es, $ 5 5 ,5 9 8 . In 1 915-16, gr o ss , $ 22 4 ,6 6 4 ; n e t, a fte r ta x e s, $ 5 6 ,7 6 8 .
R O A D .— O p e rate s 70 m iles b e tw e e n G o s h e n a n d P e r u , L eases 4
m iles
o f tr a c k b etw een W a r s a w a n d W in o n a L a k e .
O F F I C E R S .— G e n . M g r ., J . O . S ch a d e . W a rsa w : A u d ., n . O . W e lm e r.
— V . 8 7 . p . 1359; V . 101, p . 1093, 1190, 1975; V . 103. p . 4 0 8 .
S k gfu d
inin n ,
Gos Nt(a Tx In ret. Min es. S rp s
r s. e ft. a .). te s a t.R u lu.
W A R R E N , M ASS.
W O R C E ST E R & W A R R E N S T R E E T R A IL W A Y .
O R G A N I Z A T I O N .— I n c o r p . In M a s s , in M a y 1916 as su cce sso r t o the
W arren B r o o k fie ld & S pen cer S t . R y . , w h ich w as s o ld a t p u b lic a u c tio n on
A p ril 8 1915.
— In D e c . 1917 th o M a s s . P . S. C o m m . a u th . th o c o . t o
Increase th o fare u n it fr o m 7 t o 10 ce n ts . W o rk in g m e n ’s tic k e ts , va lid
w o r k d a y s betw een 5 a n d 7 o ’c lo c k m o rn in g a n d e v e n in g , are s o ld a t th e
rate o f 50 for $ 3 . V . 105, p . 2 45 7 .
STOCK A N D BON DS—
D t . Itr s . O t t n i g M t r t .
ae
ne e t
usadn. auiy
S t o c k ...................................................... —
................
$ 1 1 6 ,6 0 0 .............
"
1st m tg o $ 72 ,00 0 g o ld ($ 1 ,0 0 0 / 1916
5 g M -S
6 2 ,0 00 M a r l 1936
an d $ 5 0 0 )---------------------------c \ In t. a t In tern a tion a l T r . C o ., B o s to n , T ru s.
— F o r yea r on d ln g Ju n e 30 1916, g ro ss. $ 4 5 ,9 5 2 ; n o t, $ 5 ,1 8 5 ;
nterest an d ta x es, $ 4 ,1 0 2 ; su rp lu s, $ 1 ,0 8 3 .
O perates 20 m iles o f tra ck betw een W a rren , W e st W a r re n , B r o o k fie ld .
W e st B r o o k fie ld , N o r t h B r o o k fie ld a n d S p en cer. 17 passen ger ca rs.
O F F I C E R S .— P r e s ., F ra n k L . P a lm er; T r e a s .. O . E . W illia m s; C le rk .
F . I I. M ills .— V . 100, p . 2168; V . 102. p . 1626; V . 105, p . 2457.
FreInre s.
a c ae
Ern g.
a ins
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Bns
od
M
W A S H IN G T O N ,
W A R R E N , PA.
W A R R E N & JA M E S TO W N S T R E E T R A IL W A Y C O .
O R G A N I Z A 1 I O N .— I n c o r p o ra te d In N o w Y o r k a n d P en n sy lv a n ia and
co n so lid a te d J au . 15 1904. P r iv a te rig h t o f w a y , e x ce p t In J a m estow n ,
w h ere co m p a n y has a 5 0 -y e a r fra n ch ise a n d 3 or 4 m iles o f p u b lic rig h t o f
w a y , fo r w h ich p erp otu a l fra n ch ises aro h eld .
STOCK A N D BONDS—
D t . Itrs. O t t n i g M t r t .
ae
neet u s a d n . a u i y
S to c k $ 20 0,000 ($ 1 0 0 )............... ............................ .......
$ 2 0 0 ,0 0 0
Se*e text
F irst m o rtg a g e $ 3 0 0 .0 0 0 ----------/ 1904 6 J -J
3 0 0 ,0 0 0 J u ly 1 1934
,
.
/I n te r e s t a t W arre n (P a .) T r u s t C o . , tru s te e .
S econ d m ortg a g e $ 1 0 0 ,0 0 0 / 1908
6%
100.000 J an 1 1918
g old n o t red eem a b le- U n to r e s t a t W arren (P a .) T r u s t C o . , tru s te e .
T h o c o . has ap p lied t o th e P . S. C o m m , fo r th o 2 d D is t. fo r a u th t o
In 1917, J a n ., 3 % ; n o la ter in fo r m a tio n .
E A R N I N G S .— F o r 12 m o s . e n d in g J u n e 3 0 :
* £ * ’L
1915-16---------------- $141,.J03 $ 57 ,6 5 0 $ 27 ,72 7 $ 1 1 ,3 7 6
S12 000 $ 6 ^ 4 7
1 91 4-15— - .......... 119.854 4 8 .4 8 9
81323
12!000
21388
R O A D .— O perates 2 1 H m iles o f t r a c k fr o m W a r re n , P a ., t o J a m e s to w n .
N. Y.
E n ters W a rren o v e r tra ck s o f W a r re n S treet R y .
b o o s an e x p r e s s
basin ess. S ta n d a rd g a u g e . 7 0 -lb . ra ils . o ca rs .
v
O F F I C E R S .— P res . & G e n . M g r ., David I I . S Iggins; V .- P . H o m e r M
P restou ; S e c ., T r e a s . & S u p t .. S . Q . S m ith , all o f W a r r e n .— V . 8 6 , p . 4 8 2 . *
IJ^TSS' Rn ls D % S rp
n
e ta . ies.(6 ) u .
2 ,7 8 *
57
W A R SA W ,
IN D .
W I N O N A I N T E R U R B A N R A I L W A Y CO.
— O c t . 1 1916 In t. o n P eru D lv . b o n d s , a n d J a n . 1 1916 ln t o n '
G o s h e n D i v . b on d s d e fa u lte d . T h e p ro p o s e d p lan o f re o r g a n iz a tio n ! V 101
p . 1190) w as n o t a p p r o v e d b y th e c o m m it t e e fo r G o s h e n D lv . b o n d s
’
’
.— O . J . M u n t o n w as a p p o in te d re c e iv e r o n J u ly 25 1916 o n th e
p e titio n o r th o F irs t T r u s t & S a v in gs B a n k , C h ic a g o , a n d E K B o ls o t
tru s tees, In s u it t o fo r e c lo s e m o r tg a g e o n G o s h e n D iv is io n .— V . 103 p 408 ’
D .
C.
WASHINGTON R A ILW AY & ELECTRIC.
O R G A N I Z A T I O N .— In c o r p o r a te d a s th e W a s h in g to n & G r e a t F alls E le c
tr ic R y . C o . J u ly 29 1892 b y sp e cial A c t o f C o n gre ss; n a m e ch a n ge d t o W a s h
in g to n R y . & E le c tr ic F e b . 1 1902. In 1902 a cq u ire d c o n tr o l o f th e P o t o
m a c E le c tr ic P o w e r C o . O n F e b . 4 1902 p u rc h a se d th e assets o f th e W a s h
in g to n T r a c t io n & E le c tr ic C o . , s o ld a t fo re clo s u re N o v . 24 1901, a n d r e
o rg a n ize d a c c o r d in g t o p lan In V . 7 3 , p . 5 5 4 , a n d a cq u ire d th e C o lu m
b ia R y . a n d th o M e t r o p o lita n R R . b y d e e d In fe e , s u b je c t t o th eir m o rtg a g e
d e b t . T h e last t w o r o a d s c o n s titu te d 57.7 1 m iles o f tr a c k . D u r in g 1912
m e rge d w ith th e A n a c o s tla & P o t o m a c R iv e r R R . (2 5.2 1 m iles) a n d th e
B r lg h tw o o d R y . (1 2 .4 5 m ile s ), b o t h o f w h o se s to c k s h a d p r e v io u s ly be en
o w n e d . I n 1912 a lso tra n sfe rre d t o th e P o t o m a c E le c . P o w e r C o . th e c o m
p a n y s in te re st in t h e G re at F alls P o w e r C o . C o m p a n y fu rn ish e s p o w e r
to th e W a s h . B a lt . & A n n a p . E le c . R y . a n d t o th e W a s h in g to n -V ir g in ia R y .
p e r p e tu a l.
F nh e
ra c is
(A
8
In 1916 a cq u ire d c o n tr o l o f W a s h ln g t o n -I n t e r u r b a n R y .
m .) th ro u g h
p u rch a se o f its o u ts ta n d . securities b y th e W a s h in g t o n * R o c k v ille R y . C o .
O n J a n . 16 1915 t h e s to c k h o ld e rs o f th o W a s h . R y . & E le c . C o . a n d th e
o f $ b 9 4 ,0 0 0 a sk e d fo r b y th e r y . c o . a n d an a p p e a l fr o m th e refu sa l o f th e
C o m m , t o a u th . th e rem a in in g $ 3 4 1 ,0 0 0 b o n d s has b e e n l tak e n t o th e D is tr ic t
S u p rem o C o u r t .
(O n A p r . 23 1915 th e P . U . C o m m . a u t h . $ 1 3 ,5 0 0 a d d i
tio n a l b o n d s .)
In M a y 1917 th e P . U . C o m m . a u th . th o P o t o m a c E le c .
P o w . C o . t o issue $ 1 ,1 2 7 ,0 0 0 G e n . I m p t . 6 % D e b . b o n d s , o f w h ic h $ 7 5 0 ,0 0 0
w ero s o ld fo r t h w it h .
V . 104. p . 2122.
.— See 1914 a n n u al r e p o r t In V . 1 00 , p . 1251.
STOCK A N D BONDS—
Q -M
$ 6 ,5 0 0 ,0 0 0 M a r ’ 18 1
C o m m o n J | 6 .5 0 0 ,0_00.,($1 0 0 )________
P r e f 5 % $ 8 ,5 0 0 ,0 0 0 ( $ 1 0 0 ) .. .
-M
8 ,5 0 0 ,0 0 0 M a r 191
C o n s o l m o rtg a g o $ 17 ,5 0 0 ,0 0 0
1902
4 g J -D
1 1 ,6 4 2 ,3 5 0 D e c 1 1951
($ 1 ,0 0 0 & $ 500) g o l d . - c H f I n t . a t U . S . M t g . & T r . C o ., N . Y . , tru s te e.
M o t R R 1st m tg e ($ 1 ,8 5 0 .
1895
5 g F -A
1 ,8 5 0 ,0 0 0 F e b 1 1926
000) g o ld ($ 1 ,0 0 0 ) n o t s u b In te re s t a t B a ltim o r e T r u s t & G u a r a n te e C o .
je c t t o c a l l . . .................... c * t f
tru s te e , B a ltim o r e .
A n a co s tla & P o t o m a c R iv e r 1899
„
„
5 g A -O
2 ,9 7 9 ,0 0 0 A p r 1 1949
fir s t m tg e $ 3 ,0 0 0 ,0 0 0 g o ld { I n t . a t B a ltim o r e T r . & G u a r . C o . , tru s te e .
($ 1 ,0 0 0 ) sin k in g f u n d . c * t f l
M a y b e ca lle d a t 1 1 2 )5 .
— T h e p re fe rre d s to c k b e ca m e cu m u la tiv e o n J u n e 1 1 90 4 :
T h o re m a in d e r o f th e c o n s o l, b o n d s ($ 5,8 5 7 ,6 5 0 ) are reserv ed fo r th e retire
m e n t o f u n d e rly in g lie n s. E n tir e Issue is s u b je c t t o ca ll u p o n 3 m o n th s ’
n o t ic e o n a n y Interest d a te a t 105 & Interest.
A p o r t io n o f th e p r o p e r t y c o v e r e d b y th e M e t . R R . 1st m tg e . m a y b o
s o ld a n d p ro co e d s a p p lie d t o a sin k in g fu n d fo r th e re tire m e n t o f th e b o n d s
a t n o t e x c e e d in g 110 a n d ln t . B o n d s c a n n o t b e d ra w n . O f th e A n a c . &
P o t o m a c R iv e r b o n d s , $ 4 6 2 ,0 0 0 are g u a r ., p . & 1., b y W a s h in g to n R y . &
E le c . ’ V . 8 7 , p . 3 6 . $ 2 1 .0 0 0 h a v e b e e n ca n c e le d .
— O n p r e f. a t ra te o f 5 % p e r a n n u m s in ce D e c . 1 1904 t o a n d
ln cl. M a r , 1918. O n c o m ., 1st d l v ., w as p a id D e c . 1 1909; in 1910.
In
1911, 2 % : In 1912, 4 % : in 1913, M a r c h . 1 % ; J u n e , 1 ) 5 % ; S e p t .! 1 ) 5 % :
D e c ., 1 ) 5 % a n d 1 % e xtra . I n 1914 a n d s in ce t o a n d in c l. 1 916, 7 % .
In
1917, 6 ) 5 % .
I n 1918, M a r .. 1 ) 4 % .
FvraleRteDc io
ao b a eis n
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
SokadBns
t c n o d.
&
2%
:
Didns
iv e d.
_
„ ___
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
P o to m a c E le c tr ic P o w e r C o m p a n y .
BONDS—
F irst m o rtg a g e (see te x t ) g o l d / 1904
6 g J-D
$ 1 ,7 0 0 ,0 0 0 June 1 1929
( $ 1 , 0 0 0 ) - . . .......................c . t f l i n t , a t C o m m . T r . C o .. Jersey C it y , tru s te e.
C o n s m tg e $ 7 ,0 0 0 ,0 0 0 g o l d / 1906
5 g J -J
5 ,3 0 0 ,0 0 0 J u ly 1 1936
($ 1 ,0 0 0 ) gu p & 1 b y W a s h { I n t . a t C o m m e r c ia l T r u s t C o . , J e rse y C i t y .
R y & E le c tr ic C o _____ c . t f l tru ste e .
G e n 1 im p t . d e b e n tu re s -----------1915
6 F -A 1
7 5 0 ,0 0 0 F e b 1 1925
— T h e fir s t m tg e . b o n d s are re d . a n y in t . d a te a t 110 & in t .
A u th .
issuo w as o rig in a lly $ 4 ,0 0 0 ,0 0 0 , b u t w as s u b se q u e n tly r e d u c e d t o $ 1 ,7 0 0 ,0 0 0 .
O f th e $ 7 ,0 0 0 ,0 0 0 now c o n s o ls , $ 1 ,7 0 0 ,0 0 0 are reserv ed fo r p r io r H ens.
T h e y a re g u a r ., p r ln . a n d in t ., b y W a s h in g to n R y . & E le c tr ic C o . A
o f 2 % p e r a n n u m o f b o n d s o u ts ta n d in g b e ga n J a n . 1 190 8 .
See V . 8 3 , p . 100. T h e G e n . I m p t . d e b e n tu re s are g u a r ., p . & 1., b y th e
W a s h . R y . & E le c . C o .; r e d . a t 102 )5 o n a n y ln t . d a t e . E arn in g s o f th e
P o t . E le c . P o w . C o . h a v e be e n as fo llo w s :
1917.
1916.
1915.
Bns
o d.
s k gfu d
inin n
Cle drYa
a na e r—
G ross
Dfa lt.
eu
Rcivr
ee e
Fn
ra
c iss
he
M IN N .
MESABA RAILWAY CO.
Bns
od.
127
r e c o i n t s .................................................. „
$ 2 ,6 3 9 ,5 8 7
$ 2 ,4 3 2 ,4 7 3
$ 2 ,1 9 1 ,3 9 2
N e t a v a ila b le fo r in te r e s t--------------------1 ,0 5 3 ,9 9 8
1 ,1 1 4 ,4 7 8
1 ,0 1 6,79 3
A n n u al in terost ch arge s o n o u ts ta n d in g b o n d s , in clu d in g th e $ 75 0 ,0 0 0
d e b e n tu re b o n d s a m o u n t t o $ 3 9 5 ,0 0 0 .
Property, <&c.— T h e W a s h in g to n R y . & E le c . C o . c o n tr o ls th e p rin c ip a l
s treet ra ilroa ds In th o D is tr ic t o f C o lu m b ia a n d a lso th e P o t o m a c E le c . P o w .
C o . w h ic h a lo n e Is o p e r a t in g , o r a u th o riz e d t o o p e r a t e . In th e n a tio n a l
ca p ita l a n d w h ic h c o n tr o ls th e G r e a t F a lls P o w e r C o , w ith u n d e v e lo p e d
w ater p o w e r o n P o t o m a c R iv e r , T h e ra ilro a d c o m p a n ie s h a v e 1 7 5 .50 m .
o f tra ck (all u n d or e le ctric t r a c t io n ) , w h ile tu o e le ctric lig h t c o m p a n y has
265 m iles o f s u b w a y s w ith a b o u t 950 m ile s o f d u c t s , besides m a n y m ile s o f
o v e r h e a d w ires. O w n s 669 ca rs . N o . o f m eters D e c . 31 1917, a b o u t 3 6 ,0 0 0 .
T h o fo llo w in g sh o w s th e to ta l o u ts ta n d in g s to c k o f th e
a n d th e a m o u n t o f th e t o ta l shares a cq u ire d in e a ch Instance b y t h e
W ash in g to n R y . & E le c . C o . u p t o D e c . 3 1 1917:
tr lle
od
Nmo Cmay
a e f o pn
M
ile S c.
aita
ae - Cpkl
g.
to
— •
G e o r g e to w n & T e n a lly to w n R R 8 .5 6
W a s h in g to n & R o c k v ille R y ___ 14.436
C it y & S u b u rb a n R a ilw a y ____ 4 1 .4 27
W a s h in g to n & G le n E ch o R R . ...............
W a s h in g to n In te ru r b a n R R ____ 8 .2 5
T o t a l ra ilro a d s----------------------- 7 2 .6 73
„
—
’
—
P o t o m a c E le c tr ic P o w e r _______________
Nmo o pn
La tinfCmay
ig eg
h
$20 0 ,0 0 0
275 .00 0
1 .7 5 0 ,0 0 0
2 00 .00 0
5 0 ,0 00
cmaie cn
o pn s o
Am.t Aweo
mu m d
n
Ood O’tNt
ue
n.
S162.950
2 75 ,00 0
1 .6 8 1 ,2 5 0
197,150
50,0 00
$ 2 ,4 7 5 ,0 0 0
Awet
mu.
Oon
nd
$ 6 ,0 0 0 ,0 0 0
$ 6 ,0 0 0 ,0 0 0
Ctokl
aita
Sp .
c
$ 2 ,3 6 6 ,3 5 0
$ 37 ,05 0
N one
6 8 .7 50
2 ,8 5 0
$ 10 8 ,6 5 0
Awe.o
md
’t
OnNt
N one
T o t a l all c o m p a n ie s ...................... .........
$ 8 ,4 7 5 ,0 0 0 S 8.3 6 6 .3 5 0
$ 1 0 8 ,6 5 0
T h o W ash in g ton R y . & E le c tr ic ow n s th e fo llo w in g b o n d s o r th o c o n s t itu
e n t c o m p a n ie s, w h ic h , to g e th o r w ith th e shares o f s to c k o w n e d a b o v e , are
p le d g e d u n der th e $ 17 ,6 0 0 ,0 0 0 co n s o l, m tg e .; $ 10 0 ,0 0 0 (en tire issues) 1st &
2d m tg e s. o f th o G e o r g e to w n & T e n a lly to w n R y . ; $ 18 0 ,0 0 0 o u t o f a to ta l
issue o f $ 18 5 ,0 0 0 1st m tg e . b o n d s o f th e W a s h . & R o c k v ille R y . (rem a in in g
$ 6 ,0 0 0 be in g o w n e d b y th e W a s h . R y . R e lie f A s s o c ia tio n ); $ 20 0 ,0 0 0 1st
m tg e . a n d $ 5 0 ,0 0 0 2d m tg e . (en tire issues) o f th e W a s h in g to n & G len E c h o
R R . ; $ 1 5 0 ,0 0 0 (en tire Issuo) W a s h in g to n In te ru r b a n R R . 1st m tg e b o n d s .
T o t a l . $ 6 8 0 ,0 0 0 .
128
[Vol. 106
E L E C T R IC R A IL W A Y S
E A R N I N G S .— O n all p ro p e r tie s fo r ca le n d a r y e a rs :
1917.
1916.
1 915.
6 8 ,5 4 5 .4 8 1 6 6 .1 0 4 ,4 3 1
R e v e n u e p a ssen gers------- 0 6 ,0 4 4 ,2 3 0
F re e tra n s fe rs .................... 1 9 ,6 17 ,3 3 7
2 1 ,4 8 9 ,7 4 4 2 0 ,3 7 8 ,5 2 5
G r o s s ea rn in g s ----------------- $ 5 ,4 9 2 ,3 5 9
5 5 ,5 3 9 ,4 6 5 5 5 ,1 9 1 ,6 2 7
* 3 ,2 8 0 ,4 8 6 * 3 ,0 0 9 ,0 7 2
E x p e n s e s a n d t a x e s ____ *3 ,7 9 1 ,2 6 4
1914.
6 5 ,8 1 7 ,7 7 2
2 0 ,2 0 0 ,5 4 1
5 5 ,0 4 8 ,4 3 5
* 2 ,8 6 3 ,7 3 6
N e t ea rn in g s .................. S I ,7 0 1 ,0 9 5 5 2 ,2 5 8 ,9 7 9 5 2 ,1 8 2 ,5 5 5 $ 2 ,1 8 4 ,6 9 9
O th e r I n c o m e ----------------3 7 ,2 0 3
2 7 ,5 1 0
2 2 ,3 2 8
3 3,891
T o t a l I n c o m e .....................§ 1 ,7 3 8 ,2 9 8
$ 2 ,2 8 6 ,4 8 9 $ 2 ,2 0 4 ,8 8 3 $ 2 ,2 1 8 ,5 9 0
FLxed ch a r g e s ----------------1 ,2 2 4 ,1 5 0
1 ,1 9 4 ,0 3 5 $ 1 ,1 8 7 ,9 9 7 $ 1 ,1 7 7 ,1 1 7
D l v . o n p r e f . s to c k ( 5 % )
4 2 5 ,0 0 0
4 2 5 ,0 0 0
4 2 5 ,0 0 0
4 2 5 ,0 0 0
D l v . o n c o m . s t o c k -------( 6 % ) 4 2 2 ,5 0 0 ( 7 % ) 4 5 5 .0 0 0 (7 % )4 5 5 ,0 0 0 (7 % )4 5 5 ,0 0 0
$ 21 2 ,4 5 4
$ 1 3 6 ,8 8 6
$ 16 1 ,4 7 3
S u r p l u s .................. ......... a d f. § 3 3 3 ,3 5 2
• In clu d es d e p re cia tio n o f e q u ip m e n t b e gin n in g w ith J u ly 1 1914, In
a c c o r d a n c e w ith In te r-S ta te C o m m e r c e C o m m iss io n cla s s ific a tio n o f a c
c o u n t s , e ffe c t iv e as o f th a t d a te .
T h e d e fic it in 1 917.w as d u o p r in c ip a lly t o a 5 1 -d a y s ’ str ik e o n th e c o . ’s
lines d u rin g M a r c h a n d A p ril 1917 a n d t o th e in crease in o p e ra tin g c o s ts.
O F F I C E R S .— P r e s ., ----------------------------; V .- P . a n d C o m p t ., W . F . H a m ;
T r e a s ., A . M . F ish er; S e c ., S . R . B o w e n .
G en eral o ffic e s , 14th a n d C S ts.,
N . W ., W a s h in g to n .— V . 104, p . 2 120; V . 106, p . 6 0 2 , 1462, 2 012.
(1) C it y & S u b u r b a n R a i l w a y .— U n d ergrou n d e le ctric a n d ove rh e a d
t r o lle y . B o n d s , 1st M . 5 % g o ld , $ 1 ,7 5 0 ,0 0 0 .
D o n o in . § 1 ,0 0 0 . c o u p o n .
D a t e , A u g . 1 1898; Interest p a y a b le F e b . a n d A u g . a t B a ltim o r e T r u s t &
G u a ra n tee C o ., tru steo. M a t u r it y A u g . 1 1948. T h e b o n d s h a v e a s. f . o f
$ 2 5 ,0 0 0 y e a r ly fr o m a n y su rp lu s rem a in in g a fte r p a y m e n t o f 6 % o n the
s to c k , b u t the b o n d s c a n n o t b o c a lle d . In O c t . 1901 re ce iv e r w as a p p o in te d .
O n F e b . 1 1902 in terest d e fa u lte d , b u t w as p a id la te r in th e m o n th b y the
tru s tee. V . 7 4 , p . 4 2 8 . R e c e iv e r w a s d isch a rge d on S e p t. 22 1905. On
O c t . 19 1910 a cq u ired th o W a s h . B e rw y n & L a u rel E lo c . I i y . (9 m iles) fro m
th e W a s h . B a lt . & A n n a p . E le c . R R .
V . 9 1 , p . 9 47.
a
W A S H IN G T O N & M A R Y L A N D R Y .
O R G A N I Z A T I O N .— I n c o r p . in M a r y la n d as su cce s so r t o B a lt . & W a s h .
T r a n s it C o . o f M a r y la n d , s o ld u n d e r fo re clo s u re .
T h o P . U . C o m m , o f th e D . o f O . h as a u t h . th o c o . t o issue $ 6 6 ,0 0 0 g e n .
6 % 3 0 -y r . b on d s a n d $ 3 0 ,0 0 0 p r io r lien 5 ) 4 % b o n d s; h a s a lso a p p r o v e d
a c o n t r a c t b y w h ic h th e C a p ita l T r a c t io n C o w ill o p e r a t e th e c o ’s lin es.
P r o c e e d s o f th e 6 % b o n d s w ill b e u sed t o c o m p le te p u rc h a se o f th o p ro p e rtie s
o f B a lt . & W a s h . T r a n s it C o . In M a r y la n d , a n d th e 5 ) 4 % p r io r lien b o n d s
w ill b e used as co lla te r a l fo r $ 4 2 5 ,0 0 0 1 -y r . 6 % n o te s , t h e p ro c e e d s o f w h ich
w ill b e u s ed fo r e x t. a n d lm p ts .
R O A D .— O porates a b o u t 3>4 m llo s o f tra ck fr o m 14th & K e n n e d y S ts .,
N . W ., t o D is tr ic t lin e a t T a c o m a P a r k , M d . P r o p o s e d e xte n sio n o f 1 )4
m iles th rou g h T a c o m a . 60 & 1 0 0 -lb . T ra il; g ird o r rail o n n ew e x te n s io n .
T ra n s fers passengers a t 14th a n d K o n n o d y S ts. t o C a p ita l T r a c . C o . O n e
fa re a n y p la c e in D is t. o f C o l. F o u r ca rs o f th e C a p ita l T r a c t io u t y p e .
O F F I C E R S .— -P res., C h a s. S olden J r .. W a s h ., D . O .; V .- P ., H . W . W il
ia m s , B a l t ., M d . ; S e c ., P a u l S ie m a n , W a s h .; T r e a s ., N o r t o n M . L ittle .
■ ffic e . 1413 H S t .. N . W .
O
C A P I T A L T R A C T I O N .— A n u n d e rg ro u n d tr o lle y r o a d .
O R G A N I Z A T I O N .— In th e fa ll o f 1895 a bs o rb e d the W as h in g to n &
G e o r g e to w n and R o c k C reek co m p a n ie s . See V . 61, p . 2 8 3 , 3 28 , 588.
— O n D e c . 31 1914 en tered in to an a gre e m e n t w ith
th e W ash in g ton & M a r y la n d R y . fo r th ro u gh s e rv ice , w ith a d iv is io n o f
fa res based in p a rt o n th o re la tiv e s e rv ice ren dered .
— In D e c . 1916 rea ch ed an a g re e m e n t w ith th o P . U . C o m m , o f
th o D is t . o r C o l . fix in g th o re p r o d u c tio n v a lu e o f th e p r o p e r t y as o f June
30 1914 at $ 1 0 ,9 9 6 ,2 1 4 , n o t in c lu d in g , h o w e v e r , ro a d and; e q u ip m e n t
lo c a te d ou ts id e th e D is tr ic t o f C o l., real es ta te in the D is tr ic t o f C o l.,
fra n c h ise , w o r k in g c a p i t a l . Interest a n d taxes d u rin g c o n s t r u c tio n , and
o th e r Item s w h ich fig u r e d in th e re p o r t o f th e C o m m is s io n ’s e xp e rt as fo l
low s: L a n d . $ 6 1 8 ,1 1 6 : Insurance o n la n d , $ 1 ,2 3 6 ; taxes on la n d , $ 1 2 ,36 2 ;
Interest o n a b o v e item s . $ 4 4 ,2 2 0 ; a n d w o r k in g c a p ita l, $ 1 0 8 ,0 0 0 . V . 103.
p . 2 428.
— See V . 105, p . 1897.
STOCK AN D BONDS—
S to c k $ 1 2 ,0 0 0 ,0 0 0 ($ 1 0 0 )----------------Q -J
$ 1 2 ,0 0 0 ,0 0 0 A p r '1 8 . 1
N ow fir s t m o rtg a g e $ 6 ,0 0 0 ,- f 1907
5 g J -D
5 ,6 0 6 .0 0 0 J u n e 1 1947
0 00 g o ld ($ 5 0 0 )-----------------c { l n t . a t U n io n T r . C o . o f th o D . o f O ., W ash ..
1 tru stee.
— A re n o t s u b je c t t o c a ll. P a r t o f th e b o n d s Issued w o re usod to
redeem th o $ 1 ,0 8 0 ,0 0 0 ou ts ta n d in g 4 % b o n d s o f th e 1900 issue. $ 200,000
o f b o n d s aro in c o . ’s trea su ry a n d $ 1 9 4 ,0 0 0 are in c o . ’s ins. reserve fu n d .
— In 1898, J u ly 1, 7 5 c .; O c t . 1, 7 5 c .; in 1899, fo u r d iv id e n d s o f
7 5 c . ea ch ; In 1900, 3 M % : In 1901. 4 % ; In 1902, J a n .. 1 % ; A p r il, 1 % ;
J u ly , 1 % . a n d on A u g . 20 an e xtra d iv id e n d o f $4 p e r sharo w a s p a id fro m
p ro ce e d s o f sale o f o ld p o w e r h o u se ; O c t ., 1 % ; in 1903, % % ; in 1904, 5 % .
in 1905, 5 ) 4 % ; 1966-1913 in c l.. 6 % arm .; in 1914. J a n ., 1 ) 4 % ; A p r il, 1 ) 4 % ;
J u ly , 1 )4 % • I n O c t . ra te was red u ced an d 1 X % w;ts p a id ; s am e ra te q u ar
te rly s in c e . In D e c . 1917 a n extra d iv id e n d o f 1 X % was p a id .
R E P O R T .— F o r ca le n d a r y e a rs :
Oea gAremn
pr tin g e e t.
Vlutio.
aa n
WeInre s.
a c ae
g
4
Clera EGoss Dp(cnr Intm.Inaa.
an
e
Yadr arin . Ntrefte Oee Txn
e
rnsg e a’ .) chr t. ed
o
s
Dd. Brpc,
a e
divs S lalu.
e U u ns
n
—
1 9 1 7 ........... $ 2 ,7 8 3 ,5 3 8 $ 1,2 5 0 ,2 0 9 $ 1 6 ,2 6 2 $469,941 ( 6 X )$ 7 5 0 ,0 0 0 $ 46,530
1916 ------- 2 ,2 8 9 ,2 5 1 1 ,0 5 1.84 1
8 ,9 2 8 4 2 4 ,5 9 2 ( 5 % ) 6 0 0 .0 0 0 36,1 77
6 ,5 3 2 4 1 7 .16 8 ( 5 % ) 6 0 0 .0 0 0
4 3,574
1915 ........ 2 .2 0 6 .4 9 4 1 ,0 5 4 ,2 1 0
In 1917, 6 4 ,2 8 5 ,9 9 3 re v e n u e a n d 1 9 ,4 12 ,9 8 3 tra n sfer passengers w ere
ca rr ied , aga in st 5 3,4 8 2 ,5 4 6 a n d 1 64 ,8 7 ,8 2 0 , r e s p e c tiv e ly , in 1916.
R O A D .— U n dergrou n d t r o lle y , s in gle tra ck (ln cl. 2 .0 2 3 m iles op e ra te d
un dor tra ck a g e a g r e e m e n t), 4 4 .3 7 9 m iles; o v e r h e a d t r o lle y , 10.822 m iles,
sin gle t r a c k . T o t a l len g th o f ro a d (ln c l. 7 .9 5 6 m iles sid in g s a n d tu rn o u ts ),
6 5 .ISO m iles o f sin gle tr a c k . O p e rate s 314 clo s e d m o to r ca rs , 125 open
m o to r c a r s . 93 clo s e d tra ilers, 101 o p e n tra ilers. 9 sn ow sw e e p e rs, 5 sand
ca rs , 36 m iscella n eou s; t o ta l, 683 ca rs . 80 t o 1 0 4 -lb . rail.
O F F I C E R S .— P r e s ., G e o . E . H a m ilt o n ; V .- P . In C h a rg e o f O p e r a tio n ,
J. H . H a n n a : V .-P r e s ., D . 8 . C arll; S e c ., H . D . C r a m p to n ; T r e a s ., R . D .
S im m s.— V . 105, p . 2 183; V . 106, p . 4 9 7 , 1460, 2118.
W A S H I N G T O N U T I L I T I E S C C L ^ 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 .— I n c o r p . in V irgin ia (as M a ry la n d -V Irg ln la R y .)
N o v . 29 1 911. a m e n d e d F e b . 28 1912 a n d N o v . 7 1912. w h en th o n a m e w as
ch a n g ed t o th e a b o v o . O n N o v . 26 1912 m orged w ith W a s h in g to n -V ir g in ia
R y . , b u t th o la tter c o m p a n y (see s ta te m e n t b e lo w ) w as o b lig o d t o resum e a
sepa ra te ex is ten ce, o w in g t o refu sal o f th o s u b s e q u e n tly c r e a te d U tilities
C o m m 'o f th e D is t . o f C o lu m b ia t o a llo w th e m erged co r p o r a tio n s t o issue
secu rities p r o v id e d fo r in th o m e rge r a g re e m e n t. O w ns 150 shares o f
B r a d d o c k L t . & P o w . C o . s to c k (v a lu e d a t $ 2 0 ,0 0 0 ), $ 30 0 ,0 0 0 ( o f $300,350)
o f W a s h in g to n & G r ea t F a lls R y . & P o w . C o . s to c k , a n d § 5 7 5 ,1 0 0 c o m . and
§2 8 2 ,0 0 0 p r e f. s to c k o f th o W a s h in g to n -V ir g in ia R y . C o .
STOCK A N D BONDS—
S t o c k ------------------------------------------------------------------ $ 5 ,4 6 8 ,0 0 0
See te xt
C o lla te ra l trust n o te s $ 1 ,5 0 0 ,-1 1917
5%
1 ,5 0 0.00 0 ____________
0 00 ($ 1 ,0 0 0 )_______________ - ( M e t r o p o l i t a n T r u s t C o ., N . Y . , trusteo.
— A r o secu red b y p le d g e o f $ 2 ,7 5 0 ,0 0 0 c o m . s to c k o f th o W a s h R y . & E le c . C o .
R e d . a t p a r a n d Int. o n a n y in t. d a te o n 3 0 d a y s ’ n o t ic o .
— In itia l d l v . o f )4 o f 1 % p a id J u ly 1 1912. In 1913, 1 X % .
In 1914. 2 % .
In 1916, J a n ., 1 % . N o la ter in fo r m a tio n .
E A R N I N G S .— F o r ca le n d a r y e a r 1 913, g r o ss , $ 2 3 3 ,1 5 2 ; n o t, a rter d od u c t in g in terest. & c ., $ 13 2 ,4 7 3 : d iv id e n d s , $ 10 7 ,1 6 0 ; b a l., s u r ., $ 2 5 ,3 1 2 .
N o la ter s ta tem en t has been r e c e iv e d .
O F F I C E R S .— P r e s ., N o r m a n G r e y ; S e c. & T r e a s ., W . W . S p a id .—
V . 9 8 , p . 6 9 1 , 1539; V . 1 0 0 . p . 1350.
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Nte.
os
Didns
iv e d.
W A S H I N G T O N - V I R G I N I A R Y . C O .— U n d e rg ro u n d tr o lle y In W a s h
in g to n , o verh ea d o u ts id e.
W as h in g ton U tilities C o . o w n s $ 57 5 ,1 0 0 o f th e c o m m o n s to c k and
$ 28 2 ,0 0 0 o f th e p referred .
O R G A N I Z A T I O N .— I n c o r p . in V a . O c t. 15 1913 t o ta k e th e p la c e o f
fo rm e r c o m p a n y o f th e s a m e n a m e w h ich w as in c o r p . In V irgin ia o n J u n e 22
1910. T h o
c o . on O c t. 20 1910 m orged in to th o W ash in g to n A lexan d ria
& M t . V ernon R y . (s to ck $ 1 ,6 0 0 ,0 0 0 ) a n d W a s h in g to n A r lin g to n & Falls
C h u r ch R y . (s tock $51,0,000).
H as p riv a te r ig h t -o f-w a y ; fra n ch ises In
cities p erp etu a l.
.
The
c o m p a n y w as m erged o n N o v . 29 Into th e W a s h . U tilities C o .,
b u t w as s u b seq u en tly o b lig e d to resum e se pa ra te e x is te n ce . Soe W ash .
U tilities C o . a b o v e a n d V . 9 o , p . 6 9 1 .
o
ld
S
t
S c.
tok
Bns
o d.
S
t
S
t
Didns
iv e d.
S
c
S
t
W A S H IN G T O N B A L T IM O R E & A N N A P O L IS E L E C T R IC R R .— A
■ lngle-ph aae e le ctric r o a d .
O R G A N I Z A T I O N .— I n c o r p . In M a r y la n d on June 5 1905 as B a ltim o r e
T e rm in a l C o . O n M a r c h 31 1911 a m on d ed its ch a r te r , ch an ge d Its n am o
to W a s h . B a lt . & A n n a p o lis E le c tr ic
and to o k o v e r tho W a s h . B a lt.
A n n a p o lis E le c .
s o ld a t fo re clo s u re (V . 92. p . 7 9 6 , 9 5 7 ), per p lan
In V . 9 1 , p . 1328, 1386.
P riv a te r ig h t-o f-w a y .
I n Ju n o 1912 en tered Into a 10-y ea r co n tr a c t w ith th e A m e rica n E xpress
O o ., g iv in g lt th e rig h t t o o p e ra te an express s e rv ice o v e r th o c o . ’s lino.
T h e A n n a p o lis P u b lic U tilities C o . w;is In co rp . In M a y 1912 as a s u b . c o .
a n d t o o k o v e r th e A n n a p o lis G a s
E lec. C o ., w h ich had o u ts ta n d in g
$ 10 0 ,0 0 0 s to c k a n d $ 28 0 ,0 0 0 b o n d s .
V . 9 6 , p . 5 55. T h e A n n a p o lis P u b lic
U tilities C o . has $ 30 0 ,0 0 0 a u th . c o m . s t o c k , $172 ,7 0 0 issu ed.
— V . 105, p . 2 27 3 .
STOCK A N D BON DS—
Q -J
$ 3 ,0 0 0 ,0 0 0
S oo text
C o m m o n $ 3 ,0 0 0 ,0 0 0 ($ 5 0 )....................
P r e f $ 2 ,5 0 0 ,0 0 0 ($50) 6 % n o n - c ------6 Q -M
1 .4 5 5 ,7 5 0 M a r T 8 , 1)4
F irst m o rtg a g e $ 7 ,5 0 0 .0 0 0 ( 1911
5 M -S
6 8 2 ,00 0 M a r 1 1941
( $ 1 , 0 0 0 ) ______________ c * t f j I n t . a t C lo v e . T ru st C o ., C le v e ., o r S afe D e p .
(
T r u s t C o .. B a ltim o r e , M d .
In clu d e s $ 53 8 ,0 0 0 b o n d s In treasu ry.
— P r o f, s to c k is red . a t 110.
B on d s are s u b je c t t o c a l,
a t 105 o n a n y Interest d a te .
— O n p r o f.. Initial d l v .— 1 ) 4 % — p a id O c t. 1912; D e c ., 4 ) 4 % ,
m ak in g 6 % fo r th o y e a r. H as pa id 1 )4 % q u a r. s in ce to a n d ln cl. M a r . 1918.
In itia l d l v .— 3 % — p a id o n c o m . O c t. 31 1917. In 1918. J a n .. 3 % ; A p r ., 2 % .
E A R N I N G S .— F o r y e a rs e n d in g D e c . 31:
H.
R
Rilte y
a a,
S
t
S
t
WeInre s.
a c ae
g
xokadBns
S c n od.
t
Didns
iv e d.
Cana
ars
Yle dr
e
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
x,
6
S
c
Go s eTxs Ine . Cac.,s folaie,
h
c
Ernsg. Nt(aer Oo e Inhr e, BrDe
ar s
in
afte t r t.,A a n s.
). cm
g
—
1 9 1 7 -----------------$ 1 ,5 6 0 ,1 2 5 *$718,051 $ 1 2 ,89 3 $ 26 8 ,2 9 3 $ 462,651
1 9 1 6 ................................... 9 4 6 .20 2
3 9 6 .3 3 2
13.341
2 0 2 ,5 7 8
147 ,09 5
* A fte r d e d u c tin g in c o m o a n d excess p ro fits taxos.
— F o r 11 m o n th s e n d in g N o v . 30;
1917 ................
$ 1 ,3 7 7 ,7 0 5
$ 71 8 ,5 2 0
$31 ,43 9 $ 33 6 ,7 8 8 $413,171
R e v e n u e p assengers ca rried in 1917, 3 ,4 2 9 ,9 6 6 , aga in st 2 ,0 3 7 ,1 3 9 in 1916.
R O A D .— O perates 116.7278 m iles o f tra ck betw een B a ltim o r e , W a s h in g
to n a n d A n n a p o lis , o f w h ich 13.94 m iles a re o p era ted u n d er c o n tr a c t.
E n
ters W a sh in g to n o v e r track s o f W a sh . R y . & E loc. C o . 8 0 -lb . T rails.
S ta n d a rd g a u g e. A u to m a tic b lo ck sy ste m In sin gle-tra ck b etw een A n n a p o
lis J e t. an d A n n a p olis.
144 ca rs.
P ow er Is p u rch ased fro m P o t o m a c
E le c tr ic P o w e r C o . o f W a sh in g ton .
O F F I C E R S .— P re s ., G e o . T . B is h o p , B a lt .; V .- P ., F . I I. G in n , C lo v e .;
V .- P . & G e n . M g r ., J . J . D o y le , B a lt.; S e c .. G e o . W . W illia m s. B a lt .;
T r e a s ., G e o . A . C ra ig . B a ltim ore: A u d ., J. A . H e m o n w a y , B o o n o v illo , In d .
— V. 105, p . 2273; V . 100. p . 819, 1345.
Dte In ret. Ots nin. Mtu U Ltet Ern g.
a . te s u tad g a rity a s a ins
.
Bns
od.
Didns
iv e d.
o
ld
Dte In ret. Ots nin. Mtu
a . te s u tad g a rity
STOCK A N D BONDS—
•
C o m m o n $ 2 ,0 0 0 ,0 0 0 ($ 1 0 0 )..................
M -N
$ 1 ,3 7 8 ,3 0 0
See tex t
P r e f $ 1 ,0 0 0 ,0 0 0 ($ 100) see t e x t ____
M -N
1 ,0 0 0 ,0 0 0
S ee tex t
W ash A le x & M t V er 1st M ( 1905
5 g M -S
2 ,3 7 0 ,0 0 0 M a r 1 1955
$ 2 ,5 0 0 ,0 0 0 ($ 1 ,0 0 0 ) g -----c * ( l n t . at R e a l E sta te T r . C o ., P h ila d e lp h ia .
W ash A r lin g to n
F alls C h u r cn R y Issues—
1st M $ 1 0 0 ,0 0 0 g o ld ................ 1895
6 J -J
1 00,000 J u ly 1 1925
2 d m tg o $ 3 5 0 ,0 0 0 ................../ 1903
6 A -O
2 5 0 ,0 0 0 A p r il 1 1953
(In t e r e s t a t M e r c h a n ts ’ T r . C o ., P h lla ., tru st.
F irst c o n s o l m tg e $ 1 ,0 0 0 ,- / 1908
5 g M -S
6 0 2 ,0 0 0 S e p t 1 1958
0 0 0 g o ld ($ 1 ,0 0 0 )_______c * ( I n t . a t G ira rd T ru s t C o ., P h lla ., tru s te e .
— P r e f. Is e n title d t o c u m . d iv e , o f 3 % fo r yea r e n d in g N o v . 1 1 91 1 .
4 % fo r n ex t y e a r an d 5 % y e a rly th e re a fte r. S to c k listed In P h lla .
W ash.
— O f th e W ash . A le x . & M t . V e r. 1st M . , $ 13 0 ,0 0 0 are in tre a su ry .
T h e b o n d s are s u b j. t o call on a n y trie, d a te a t 110 and in t. u p o n 3 m o n t h s ’
n o tic e . S ee V . 8 0 , p . 1176. $ 35 0 ,0 0 0 W a s h . A r l. & P. C . 1st co n so ls are
reserved fo r p rio r Hens, $ 4 8 ,0 0 0 are In tre a s.; rem ain der are fo r b e tte rm e n ts ,
t o . B o n d s w ere g u a r ., p .
L , b y en d o rs e m e n t b y W ash . A le x .
M t . V er.
R y . S u b je c t t o ca ll o n a n y Int. d a te a t 105 a n d Int. o n a m o s .’ n o tice .
In t . o n th e W a s h . A r l.
F alls C n u r c a R y . 1st M . b o n d s, p a y a b le In P h lla .
W a lte r H in c h m a n , N . Y . , Is trustee.
— In itia l d lv . o n p r e f.— 1 X % — p a id M a r . 15 1911; N o v .
1 )4 % .
In 1912, 4 % .
I n 1913, and sin ce 5 % .
O n c o m m o n , firs t
d l v . — 1 % — p a id M a r c h 15 1911; N o v . , 1 ) 4 % .
In 1912 a n d 1913, 3 % .
In 1 914, M a y . 1 ) 4 % .
I n N o v . ra te w as re d u ce d a n d 1 % w as p a id . In
1915, M a y , 1 % . N o later In fo rm a tio n .
E A R N I N G S .— F o r 12 m o s . e n d . Ju n e 3 0 1913, g r o ss . $ 54 0 ,9 5 0 ; n e t,
$ 29 7 ,1 1 4 ; b o n d in t. & ta x e s, $ 20 0 ,5 6 8 ; su rp lu s, § 9 6 ,5 4 6 . N o la ter s ta te
m e n t has b e e n re c e iv e d .
R O A D .— O p erates fr o m W a s h in g to n . D . O ., t o A le x a n d ria , M t . V e rn on ,
A rlin g to n , F t . M e y e r , R o s s ly n , C la re n d o n , V ien na and F a irfa x.
T ota l
t r a c k . 6 3 .3 4 m llo s. S ta n d a rd g a u g e . 79 cars ( o f w h ich 59 are p a s s e n g e r ).
O F F I C E R S .— P r e s ., N o r m a n G r e y ; S e c ., G a rd n er L . B o o th e , W a s h .;
T r e a s ., J. O . F reeland: G e n . M g r ., It. W . K in g .— V . 100, p . 1439; V . 105.
p . 1899; V . 106, p . 8 19.
W A S H I N G T O N & O L D D O M IN IO N R Y .
O R G A N I Z A T I O N .— I n c o r p . In M a y 1911 In V irgin ia as s u ccessor to th e
G rea t F alls
O ld D o m in io n R R . , o p e ra tin g a 15-m ila lino b etw een W a s h
in g to n , D . O ., and G ro a t F alls, V a. H as loused fo r 60 years fro m J u n e 1912
and has electrified th o B lu e m o n t bra n ch o f th o S outh ern R y ., ex te n d in g
fro m A lex a n d ria to B lu e m o n t, V a ., a b o u t 54 m iles. In 1912 c o m p le te d a
12-m lle co n n e ctio n b etw een W a sh in g ton a n d A le x a n d ria . T o t a l ro a d o p e r
a te d , a b o u t 81 m iles.
O F F I C E R S .— P re s ., C o lin H . L iv in g sto n e ; V .-P . & G e n . M g r ., W . IL
E m m ert; V .- P .. E . B . M c L e a n ; S e c.-T re a s .. A . K . S tra tto n ; A ss t. S e c ..
T r e a s ., M . W . B o w e n .
O ffice . W a s h in g to n . D . C .— V . 95, p . 482.
S
t
W A TE R LO O ,
IO W A .
W A TE R LO O CED AR FALLS & N O RTH ERN R Y .
O R G A N I Z A T I O N .— In co rp o ra te d In Io w a In 1895 as W a te rlo o Sc C ed a r
F alls R a p . T ra n sit: n a m e ch an ged to a b o v o in 190*1 b y a m on d tn g a rticles
o f In co rp o ra tio n .
Lin e o p e n e d b etw een W a te rlo o a n d C ed a r R a p id s
S op t. 13 1914. C o n n e cts a t C ed a r R a p id s , l a . , w ith tho C h ic. & N . W
R y . a n d C h ic . M U . & S t. P a u l R y .
— T h o co m p a n y has a cce p te d th o franchise a p p ro v e d at a
sp ecial e le ctio n h eld on D e c . 5 1917, w h ich p rov id es fo r a red u ced ra to o f
25 tick ets fo r $1 b etw een 6 a n d 8 a . m . a u d 5 a n d 7 p . m ., an d special rates
t o s ch o o l ch ild ren . T h e fra n ch ise a lso p ro v id e s th a t w h en ever th o gross
in co m e fo r th e w h olo lino shall b o 5 cen ts per ca r m ile in excass o f co s t o f
o p e ra tio n , th erea fter th o c o m p a n y shall share w ith th o c ity o n all s u ch
excess roven u es o n th e basis o f 9 0 % t o th o co m p a n y a n d 1 0 % to th o c it y .
— V . 105, p . 2 186.
STOCK A N D BON DS—
___________ $ 1 ,9 6 3 ,0 0 0 ______ __
C o m m o n ($100) $ 3 , 3 3 5 , 0 0 0 - . - ____
P r o f s to c k $ 1 ,6 6 5 ,0 0 0 c u m ....................
6%
6 6 3 ,00 0
S ee t o x t
F irst m tg e g o ld $ 6 ,0 0 0 ,0 0 0 / 1910
5 g J-J
6 ,7 7 3 .0 0 0 Jan 1 1 9 4 0
( $ 1 , 0 0 0 ) ----------------------c * t f ( I n t . a t F irst T r .
S av . B k .. C h ic ., tru stee.
2 n d M t g o (c lo s e d )........ .......................................... .........
310 ,00 0
..................
C a r tru st n o t e s ________________ ______
_______
109.824
— R e m a in in g b o n d s ca n bo Issued a t 8214 % o f c o s t o f extension’s".
8 u b je c t to ca ll u p o n 60 d a y s ’ n o tic o a t 105 and in t. A n n u al sin k , fu n d o f
2 % o f b o n d s o u t negan w ith fiscal yoa r e n d in g D e c . 31 1912. L o u is B ols ot
Is a lso tru s te e . C a r tru st n o te s m atu re in sm all a m o u n ts o v e r a p e rio d o f
y e a rs . V . 9 0 , p . 8 5 0 . 9 15: V . 93, p . 5 28. 591.
6 % p e r a n n u m w as p a id o n p ro f, s to c k fr o m 1913 t o 1916
ln c l.: 1917 d iv d e fe rre d (V . 106, p . 3 9 8 ).
R O A D .— O w ns a n d o p era tes a line o n p riv a te r ig h t-o f-w a y fr o m W a v e r iy
to C e d a r R a p id s , 83 m iles, w ith a b ra n ch fr o m W a te rlo o t o C e d ar Falls
and N o r m a l. 9 m iles, a n d a belt lino o f 7 m iles a roun d W a te r lo o . A ls o
ow n s a n d op era tes u n der s a tisfa cto ry fra n ch ises, 23 m iles o f ra ilw a y in th e
cities o f W a te r lo o a n d C e d ar Falls; to ta l t r a c k , 130.55 m llos.
H as Joint
t r a m e agreem en ts w ith the C h ic . < N o rth W e ste rn , O . M . & S t. P ., C h ic .
fe
G t . W e s t ., Illin o is C e n t, a n d the O . R . I .
P a c . ra ilro a ds fo r in terch an ge o f
fre ig h t, passen ger, m ail an d express business. 60, 75 a n d 8 5 -lb . T ra ils.
69 passon ger. 4 b a g g a g o a u d express a n d 148 fr e ig h t ca rs , 7 e le ctric e n g in es,
a n d necessary w ork ca rs , sn ow p lo w s , sw eep ers, & c.
E A R N I N G S .—
—
1917.
1916.
1915.
O r o s s ................................................................
$ 8 2 8 ,5 2 4
$ 81 9 ,4 7 8
$73 0 ,3 8 7
N o t (a fte r t a x e s )..........................................
284 ,32 3
3 9 7 ,2 2 6
3 8 7 ,0 8 0
O F F I C E R S .— P r e s ., L . S . C ass; V .- P ., J. F . C ass; T re a s . a n d A u d ito r ,
W . H , B u rk ; S e c ., F . E . F a rw ell; G e n . M g r ., O . D . C a s s.— V . 106, p . 39
F nh e
ra c is.
Dte In rs Ots nin. Mtu .
a . teet. u tad g a rity
S
t
Bns
od.
Didns
iv e d.—
S
t
Cle dr Ya
a na e rs
Ma y , 1918.|
129
E L E C T R IC R A IL W A Y S
W A T E R V IL L E ,
M A IN E .
W ATERVILLE FAIRFIELD & OAKLAND R Y.
O R G A N I Z A T I O N .— I n c o r p . In M a in e In 1902 as tn e W a te rv llle Sc O a k
la n d S t. R y . , b u t In 1911 Increasod Its s to c k fr o m $100 ,0 0 0 t o *5 0 0 .0 0 0
(*100) a n d ch an ged n a m e to p resen t title . V . 9 3 , p . 1602. T h e * 4 00 ,00 0
a d d ition a l s to c k w as tu rn ed o v e r t o th e C e n tra l M a in e P o w . C o . t o p a y that
c o m p a n y fo r h a v in g retired o u ts ta n d in g b o n d s o f th e W a te rv llle & O akland
S t. R y . and fo r p ro cu rin g th e co n v e y a n c e o f th e s treet ra ilw a y p r o p e rty
fo r m e r ly b elon gin g to tn e W a te rv llle Sc F a irfield R y . & L . C o . T h e C e n
tral M a in e P o w e r C o . assum es and agrees t o p a y a ll liens, cla im s a n d In
cu m b ra n c es o f e v e r y k in d a tta ch in g to the p r o p e r ty fo rm e rly o w n e d b y the
W a te r v llle & F a irfield R y . Sc L ig h t C o ., s o th a t th e W a te rv llle F a irfie ld &
O a k la n d R y . n o w ow n s b o th ra ilro a ds, w h ich c o n n e c t a t W a te rv llle .
V . 9 3 . p . 1790.
W a te r v . F a irfield Sc O a k la n d R y . has n o b o n d s .
E A R N I N G S .— F o r yea r e n d . Ju n e 30 1917, gr o ss , $96 ,23 6 ; n e t , a fte r
ta x e s , $ 1 2 ,10 6 .
R O A D .— E xten d s fr o m F a irfield th ro u gh W a te rv llle t o O a k la n d , 11.19
m iles . S ta n d a rd g a u g e. 68 to 9 0 -lb . T a n d girder ra il. 17 p a ss, an d 2
w o r k ca rs , 2 s n o w -p lo w s .
O F F I C E R S .— P re s ., H a rv e y D . E a to n : V .- P .. W a lte r S. W y m a n ; S e c .,
G e o . D . H e g a rty ; T r e a s ., W a lte r S. W y m a n ; G e n . M g r ., W a lte r G . P a rk er;
A u d ., J . S . E v e r e t t — V . 9 3 , p . 1602 , 1 79 0 ..
W AU SAU ,
W IS C O N S IN .
W I S C O N S IN V A L L E Y E L E C T R I C C O .
O R G A N I Z A T I O N .— I n c o r p . A u g . 28 1906 In W isco n sin , as th e W au sau
S treet R R . In D o c . 1915 n am e w as ch a n g e d as a b o v e a n d s to c k w as in
creased fr o m $ 40 0 ,0 0 0 t o $ 8 0 0 ,0 0 0 . A t th e sam e tim e p u rch a se d the
M e r rill R y . & P o w e r C o . a n d th o L in d a u e r P u lp & P a p er C o s . p lan t at
M e r r ill. In N o v . 1916 p u rch a se d th e p r o p e r t y o r th o S tev en s P o in t L igh t
in g C o . and S tev en s P o in t P o w e r C o .
F urnishes e le ctric-lig h t a n d p o w e r in W a u sa u , S tev en s P o in t, M errill and
co n tig u o u s te rrito ry , an d ow n s a n d o p e ra te s an in teru rba n stre e t railw ay
of
m iles o f tra ck b etw een W au sau a n d R o th sch ild ; also a str e e t railw ay
a t M orrill and a gas p la n t a t S tev en s P o in t.
exten d t o 1940.
S T O C K A N D B O N D S .—
C o m m o n s to c k , $ 8 0 0 ,0 0 0 ----------------------
F irst & R or M , $ 1 5 ,0 0 0 ,0 0 0 / 1917
5 M -N
9 2 5 .00 0 M fff, 1
($ 1 0 0 , $500 & $ l , 0 0 0 ) c * - - - t in t , a t F irst N a t . B k ., M ilw ., o r W iscon sin
I V al. T r . C o ., W a u sa u , T ru ste e .
B o n d s on M orrill a n d S teven s
P o in t
p rop erties
(clos e d
m ortga ges) ___________ _____- _____
___ _____
4 1 2 ,50 0
— --------— $244 ,0 0 0 are reserved t o rotiro u n d e rly in g b o n d s . A d d itio n a l
b o n d s m a y bo issued fo r 8 0 % o f c o s t o f iin p ts ., w hen net earnings aro tw ice
Interest ch arges, in clu d in g b o n d s t o b o issu ed.
12)-$% o f gross earnings
is t o a p p ly to m a in ten a n ce, a n y p a rt n o t s o used t o bo a d d e d t o
w h ich a m ou n ts t o 1 % a n n u a lly o f b o n d s o u ts ta n d in g . R e d . a t 1 02 a n d in t
o n a n y in t. d a te .
E A R N I N G S .— F or fiscal yea r e n d in g June 30 1917, gross, $ 368,357;
net (a fter ta x e s), $ 20 2 ,3 6 6 .
P R O P E R T Y .— O w ns h y d ro -e le ctric gen eratin g p lan ts at W a u sa u ,M o rrill
a n d S tevens P o in t, and a u xilia ry s te a m g e n e ra tin g p lan ts at W au sau
a n d S toven s P o in t; 11.08 m . tra ck ; 16 pass, an d 2 o th o r ca rs, 1 s n o w p lo w .
O F F I C E R S .— P res., C . C . Y a w k e y ; V .- P ., B . F . W ilson ; S ec.
Treas.
M . O . E w in g .— V . 102. p . 68; V . 104, p . 2 013, 2553.
9
it
c s
Dte In rs rauisnin. Mtu .
a . teeF Ots ed g a rity
t. nhta
Bns
a d.
s k gfud
inin n,
S
c
W EB B
C IT Y ,
M O.
S O U T H W E S T M IS S O U R I R A IL R O A D C O .
O R G A N I Z A T I O N .— O rganized u n der th e gen eral railroad law s o f M ls to u r i, and on S ep t. 1 1900 a cq u ire d th o S o u th w est M is so u r i E le c tr ic R y .
a n d th e W e b b C it y N orth ern E le ctric R R .
In F e b . 1918 it w as r e p o rte d th a t th o c o m p a n y h a d tak en o v e r th o 14m ile lino o f th o O k la h om a K a n sa s & M is so u r i R R . a n d w o u ld e le ctrify it.
E A R N I N G S .— F o r c a l. y e a r 1917, gr o ss , $ 2 9 2 ,0 0 0 ; 1916. g r o ss , $ 2 7 1 ,1 0 7 ;
n e t, a fte r ta x e s, $ 12 2 ,0 1 9 . A n n u al in t. ch a r g e o n $ 90 0 ,0 0 0 b o n d s , $ 1 0 ,5 0 0 .
R O A D .— O w n s a n d o p e ra te s 5 7 .5 m ile s s in g le -tr a c k e q u iv .; s ta n d a rd
g a u g e ; 70, 80 a n d 8 5 -lb . ra il. A ls o o p e ra te s u n d e r c o n tr a c t 5 .3 m ile s in
W ic n it a a n d H u tc h in s o n . P o w e r is p u rc h a se d fr o m th e K a n sa s G a s &
E llcctric C o
O F F I C E R S .— P r e s ., G e o r g e T h e is J r .. W ic h it a .— V . 104, p . 1144.
W IL K E S -B A R R E ,
S eSttle .
trik e d
S
c
(1) W ilk e s - B a r r e & W y o m i n g V a lle y T r a c t i o n . — T h e U n ite d P o w e r
T ra n s , o w n s 4 9 ,9 9 2 o u t o f the 5 0,0 00 shares o f s to c k .
— Is leased to th e W ilk e s -B a rre R y . C o . (see a b o v e ). V .'8 9 . p .1 5 9 8 .
O R G A N I Z A T I O N .— In co r p o ra te d F e b . 9 1891; co n tr o ls stre e t ra ilw a y
lines In th e W y o m in g V a lle y , P a ., ex te n d in g fro m W ilk e s -B a rre to D u r y e a
an d N a n tlc o k e o n ea st s id e o f S u squeh anna R iv e r and P ltts to n a n d P ly
m o u th o n w est s id e .
In D e c . 1902 m a d e co lla te r a l tru st m tg o . fo r $ 25 0 ,0 0 0
to pu rch a se s to c k o f th e W ilk e s -B a rre D allas
H a r v e y 's L a k e R y . C o . a n d
for o th e r p u rp o s e s. O n J u ly 1 1904 leased th e P ly m o u tn
L a rk svllle S treet
R y . fo r 999 ye a rs a t 6 % o n $ 7 5 ,00 0 s tk . a n d in t. on $75 ,00 0 5 % b o n d s .
STOCK A N D BONDS—
.
S to c k (p a r $100) $ 5 ,0 0 0 ,0 0 0 — all b u t 8 shares o w n e d b y U n. P . & T . C o .
1st m tg e $ 1 ,5 0 0 ,0 0 0 g o l d / 1891
5 g A -0
$ 1 ,5 0 0 ,0 0 0 A p ril 1 1921
( $ 1 , 0 0 0 ) __________________c * lln t e r e s t a t P r o v id e n t L ife
T r . C o .. P h ila .
C olla te ra l tru st a n d m o r t g a g e / 1895
5 g J -J ___
2 6 3 ,00 0 J an . 1 1926
$ 32 5 ,0 0 0 g o l d _____________ l i n t , a t A n th ra cite S av B k ., W ilk e s b a rre , T r .
C olla te ra l tru st a n d m tg e g / 1902
5 g J -D
2 5 0 ,00 0 D e c 15 1922
(S 1.000) 2 5
c*| I n t .a t R eal E s t ..T I t le .I n s .& T r .C o .,P h ila .T r .
($ 1 ,0 0 0 ) $ 25 0 ,0 0 0 ............. c
0
—
4 0.0 00 J u ly 1 1918
W ilkesbarre
S u b u rb a n b o n d s ____
4 %
W ilkosbarre & W . S ide b o n d s . ____
5 %
3 5 .0 0 0 S e p t 1 1918
—
P itt St O ar 1st M ($ 1,0 00 ) g f 1893
6 g J -D
6 9 .0 0 0 D e c 1 1918
p
I u n co n d itio n a lly g u .c * l In t. a t R eal E sta to T r . C o ., P h ila ., T ru s .
P ly m o u th B r C o 1st g o ld m / 1894
5 g A -O
100.000 O c t
1 1924
$150 ,0 0 0 gu ar prln
in t __\ In t.a t A n th ra cite S a v . B k ., T ru s te e , W llk esbarre $ 1 0 ,00 0 s u b jo c t to call In 1904 and $ 3 ,0 0 0 ye a rly th e re a fte r.
W ilk es-B arre & K in g s t o n ____ ______
5 F -A
9 0,0 00 A u g 1 1918
W ilk e s-B arre & E ast S id e R y . ____
5
1 50,000 See (l)b e lo w
.— In te re st o n th e W ilk es-B arre
K in g sto n b o n d s red u ced t o 5 % In
A u g . 1903 a n d b o a d s e xten d ed to A u g . 1 1918.
In t. o n th e W ilk e s -B a r re
S u b u rb a n b o n d s re d u c e d In 1903 t o 4 % and b on d s exte n d e d to J u ly 1 1918.
T h o W lik o s b .
W y o m in g V a lle y co lla te ral tru st b o n d s o f 1902 are s u b je c t
t o ca ll a fte r 10 years a t 105 a n d a ccru e d Interest.
C O M P A N I E S C O N T R O L L E D I N S Y S T E M .— T h e fo llo w in g t a b le
sh ow s tne severa l co m p a n ie s o p e ra te d , th eir m ile a ge , c a p ita l s to c k , an d the
a m o u n t o f it o w n e d b y th e T r a c tio n C o m p a n y , their d e b t , a n d fin a lly the
ren tal p a y a b io u n der 9 99 -y e ar lease; 6 % here m ean in g 6 % o n the o u ts ta n d
in g ca p ita l s to c k ; a n d $1 m ean in g a n om in a l re n ta l, the c o m p a n y h a v in g
o n ly a n o m in a l existe n ce .
-----------------
Lae
e s.
S
c
S
c
Dte In rs Ots nin. Mtu
a . teet. u tad g a rity
S
c
Udrly gcod o RasPrhsd
ne inSBns n od uc ae
GaatedBns
ur n e od
S
c
S
c
Bns
od
S
c
Bns
od
AYa —EGoss Ntxfte hr ee&Bns.a Didns Blalu.
ue rs arin . T a).CIn r.s Rte ls iv e d. S rpc.
g
.
a s
rnsg eae r ates t etw
s g e
u ne
$ 333,861 $ 11 4 ,5 3 6 $69 ,46 2 (2 % W 0 , 000 $79 ,86 3
1 9 1 6 -1 7 -. .$ 7 4 7 ,8 2 0
4 4 3 ,8 4 5
112,500
3 0,217 (5 % )1 7 5 ,0 0 0 1 26,128
1 9 1 5 - 1 6 .- . 811 ,56 2
2 8 5 ,89 2
112,500
2 7,5 68 ( 4 % ) 140,000
5 ,8 2 4
1 9 1 4 - 1 5 .- . . 584 ,12 9
R O A D -O p e ra te s 77 m iles o f track c o n n e ctin g C a r th a g o , G a rte rv lllo ,
W e b b C it y . P ro s p e rity , P orto R ic o , D u e n w e g -O ro n o g o , N e c k C it y , P u r ce ll,
A lb a , J o p lin , V illa H eigh ts and C h itw o o d , all In M is so u ri, and G a le n a In
K a n s a s. A n exten sion to B a x te r S prin gs, K a n .. 9 m iles, u n d e r c o n s t r u c
tio n ; w as o x p c c t c d t o b o co m p le te d F e b . 15 1918.
O F F I C E R S .— P r e s ., A . I I . R o g e rs , W eld) C it y , M o .; V .-P . E . Z . W a llo v e r , H arrisbu rg, l?a.; S e c ., G e o . W . lie ily ; T r e a s ., W . E . M c M e c h a n .
— V . 9 3 , i>. 752; V . 106, p . 716.
W EST
C H E STE R ,
PA.
T H E W E ST C H E S T E R S T R E E T R A IL W A Y C O .
O R G A N I Z A T I O N .— In co r p o ra te d in P e n n sy lv a n ia A u g . 4 1890. O w ns
th e C h ester V alley E le c tr ic L ig h t, H ea t
P o w e r C o . a n d th e G o a to sv lllo
E le c tr ic L ig h t, H ea t
P ow er C o .
perp etu a l.
STOCK A N D BONDS—
S to c k $ 1 ,0 0 0 ,0 0 0 ($ 5 0 )....................................... - - * 1 .0 0 0 .0 0 0
...........
F irst m tg $ 1 ,0 0 0 ,0 0 0 ($ 1 ,0 0 0 )7 1902
5 g F -A
1 ,000,000 A u g l 1032
g o l d .....................................c * t f\ I n t . a t W e st E nd T ru st C o ., P h ila ., T ru ste e .
— N o sin k in g fu n d a n d bon d s n o t s u b je c t to c a ll.
—
C alen d a r yea r 1917................ $ 19 1 ,5 5 0
$ 7 4 ,73 5 5 5 6 ,85 9 $ 1 3 ,84 0 $4,0 30
L a st h a lf 1910__________
9 3 ,8 7 2
4 8,5 11
2 8,2 15
7 ,1 3 2 13,164
Y e a r en din g Ju n e 30 1 9 1 0 .. 1 01,042
82,132
50,001
1 3,474 12,057
R O A D .— In o p e ra tio n fr o m L o n a p o , th rou gh W est C h e ste r, to D o w n ln g ton and G allag h erv ille, 18 m .; g a u g e , 5 ft .
lu .; rails, 70-Ib. T ; 20 ca rs . E x
ten sion L enape to K en n eth S qu are was c o m p le te d O c t . 1 1904. A n e xten sion
from G a llag h erv ille t o C o a te s v ille c o m p le te d N o v . 5 '0 6 . l o t a l tr a c k , 30 m .
O F F I C E R S .— P r o s ., G e o . D . W o o d s id o ; V .- P .. M e y e r S ch a m be rg; S e c ..
Jonas R ic e ; T r e a s ., M . G . W o o d s id o , ail o f P h ila .— V . 8 4 , p . 3 4 0 , 3 9 2 .
S
c
Bns
od.
Ern g
a ins
FaS iss
r nc e
c
h
Dte In rs Ots nin. Mtu .
a . teet. u tad g a rity
Gos
r s.
Nt. In Tx Dpc. S rp s
e l.&a. e rc u lu.
2
H
W IC H IT A ,
K A N SA S.
A R K A N S A S V A L L E Y IN T E R U R B A N R A IL W A Y .
O R G A N I Z A T I O N .— I n c o r p . in K ansas in 1909 a n d ow n s a n d o p e ra te s
an in teru rba n e le c tr ic r a ilroa d fro m W ich ita to N e w to n a n d H u tch in s o n ,
K an.
H as lo n g -te rm fra n ch ise s in c o r p . lim its, m o st Im p o r ta n t e x te n d in g
b e y o n d 2 000; rost o n p r lv a t o r ig h t -o f-w a y .
STOCK A N D BONDS—
C o m m o n sto c k $ 2 ,1 0 0 ,0 0 0 ____ ______
___________ $ 1 ,5 0 0 ,0 0 0 --------------------P r e f 6 % cu m $ 1 ,5 0 0 ,0 0 0 ............... ....................................
488 ,00 0 .......................
F irs t m tg o $ 3 ,0 0 0 ,0 0 0 g o ld ! 1916
5 g J -D
„
9 0 0 .00 0 D e c 1 1936
($ 1 ,0 0 , $ 500, $100) c * c p t / l n t . p a y a b lo in N . Y . o r C h ic a g o .
— P rof, s to c k Is red ee m a ble $ 1 0 ,0 0 0 per a n n .; $ 1 2 ,00 0 has b e e n red .
S k old ln g .— V. 104, l). 005, 1593, 2230; V . 105, I>. 1105; V 100, p . 9 25.
B O N D S .— $ 10 0 ,0 0 0 m a y b o Issued fo r u p to 5 0 % o f ca sh c o s t o f I m p ts .,
a d d 'n s o r e x t s ., rem a in in g $ 2 ,0 0 0 ,0 0 0 fo r 7 5 % o f s u ch c o s t u n d e r re s tric
tio n s . C a lla b le a t 103 a n d Int. D e c . 1 1919 o r a n y Int. d a te th e re a fte r.
S in k in g fu n d o f 2 % a n n u a lly o f b o n d s c e r tifie d fr o m D o c . 1 1919 t o p u rch a se
S a v . B k ., C h ic a g o , tru s to e
o r c a l l o d s . a t 103 & Int. C o n t . & C o m ’ l T r .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
S c.
tok
S
c
S
c
S
c
Dte In ret. Ots nin. Mtu
a . te s u tad g a rity Nmo Cmay
a e f o pn.
S S
c c
S
c
S
c
V 'S T t ) b I A N D B O N D S —
K
S to c k $ 5 .0 0 0 .0 0 0 _______________ ______
________
$ 3 ,5 0 0 ,0 0 0 S e e "e a r n s . '
G en eral and refu n d in g m o r t -( 1906
5 g M -S
1 ,0 2 7,00 0 S e p t 1 1931
gage $ 5 ,0 0 0 ,0 0 0 g o ld ($1.-1 In t . at H a rrisbu rg (P a .) T ru st C o ., T ru ste e .
000)
_
tf(
o r N a tio n a l B an k o f C o m m e rc e , N . Y .
W e b b C it y N orth ern m t g o f 1905
5 g M -S
2 0 0 ,00 0
Sm)t 1923
* 2 0 0 .0 0 0 g o ld ............... _ c t f l l n t . at S afe D e p .
T r . C o ., P it t s ., T ru ste e .
S ou tn w est M issou ri E le c tr ic [ 1903
5 g M -S
1 ,1 5 0,00 0 S e p t 1 1923
R y refu n d in g and oxten - H a rrisbu rg T ru st C o ., Ila r r is b ., P a ., T ru sto e
slon m tg o $ 1 ,5 0 0 ,0 0 0 - - - t f (I n t . p a y a b le a t N a t. B k . o f C o m m e r c e , N . Y
.— O f th e $ 5 ,0 0 0 ,0 0 0 now b o n d s , $ 1 ,3 5 0 ,0 0 0 are reserved fo r p rio r
Hons a n d $ 2 ,6 2 3 ,0 0 0 fo r im p r o v e m e n ts and exten sion s.
E A R N I N G S .— F o r y e a r s e n d in g A u g . 31;
31
(
PA .
W I L K E S -B A R R E R A I L W A Y S C O .
O R G A N I Z A T I O N .— I n c o r p . N o v . 26 1909. A u t h . s t o c k , $ 1 ,5 0 0 ,0 0 0 : Is
s u e d , $ 9 0 0 ,0 0 0 . L eases W ilk e s -B a rre & W y o m . V a l. T r . C o . fo r 8 00 yr s.
fro m J an . 1 1910 a t ren ta l o f $ 36 0 ,0 0 0 th e 1st y r .. Increasing $ 1 0 ,0 0 0 e v e r y
tw o years u n til th e m a x im u m o f $ 40 0 ,0 0 0 Is r e a c h e d , a n d all o b lig a tio n s
in th e w a y o f in t ., tax e s, & c .. o f W .- B . & W . V . T r a c . O p erates a b o u t
113 m iles o f tr a c k .
— T h e s tr ik e b e gu n o n O c t. 14 1915 a n d a c c o m p a n ie d b y a
p r e t t y c o m p le te b o y c o t t o f th e c o m p a n y ’s s e r v ic e , e n d e d D e c . 15 1916 in a
c o m p r o m is e . See V . 103, p . 2 3 4 3 .
E A R N I N G S .— F o r c a l. year 1914, gross $ 1,4 7 2 ,9 9 4 ; o p e r . e x p ., taxes
and re n ta ls, $ 1,4 1 7 ,8 6 4 ; net In co m e , $ 5 5 ,1 3 0 ; d lv s . $ 4 5 ,0 0 0 ; s u rp lu s , $ 1 0 ,
130. I n 1913, g r o ss , $ 1 ,4 8 0 ,3 0 5 ; o p e r . e x p ., taxes & re n ta ls, $ 1 ,4 1 6 ,3 1 5 ;
net In co m e , $ 6 3 ,9 9 0 ; d l v s ., $ 5 4 ,0 0 0 ; su rp lu s, $ 9 ,9 9 0 . N o la te r s ta te m e n t
p u b lish e d o n a c c o u n t o f p ro lo n g e d str ik e .
O F F I C E R S .— P r e s ., A b r a m N e s b it t; V .- P . a n d G e n . M g r ., T . A . W rig h t
S ec. & T r e a s .. O .W . L a y c o c k .— V .9 1 , p . 1513; V .9 2 , p . 9 57 ; V . 1 03, p .2 3 4 3 .
iles. s etok we. et. e ta
d
.
M s IsuS cOnd Db Rn l,
C o a lv ille P assenger R a ilw a y ___ , .6 7
5 5.67
N one
$ 62,400 $36 ,30 0
6%
N a n tlc o k e S tr e e t R a ilw a y ______9 .6.6 8
. 98
6 ,0 0 0
N one
6 ,0 0 0
$1
P ltts to n
A v o c a S t. R y __________2 .0 0
2
13,500
13.500
$ 6 5 ,00 0
$1
P ltts t. M o o s ic
P . V . S t. R y . . 1.95
4 2,0 00
N one
4 2,0 00
$1
P ltts to n S treet O a r _______________ 8 .8 2 200 ,00 0 200 ,00 0
6 9,0 00
SI
P ly m o u th & L a rk s v llle R y _____ 3 .4.4 5
35
75,000
7 5,0 00
6%
60
N one
P ly m o u th S treet R a ilw a y _______ 6 .0.0 0
12,000
12,000
$1
N one
W est P ltts to n & W y o . S t. C a r . . 2 .2 5
3 0,0 00
3 0,0 00
$1
50
iW ilk e s -B a r r o
E a s t S id e ______5 .0.0 0
150,000
*150,000
150,000
$1
W ilk e s b . & K in g st. P ass. R y ___ . .6.6 0
66 0
100,000
9 9 ,7 0 0
90,0 00
6%
W ilk e s b . & P lain s. R y ___________ 4 .0 0
2 4,0 00
2 4 ,0 0 0
217 .00 0
81
9 3,500
*40,000
W ilk e sb . & S u b u rb a n S t. R y ___ 10.00
10.00
100,000
6%
W lik o s b . D allas & H a r v e y 's L . . 13.01
193,750
150,000
(a)
2 00,000
. 9.63
100,000
9 2.4 50
*35.000
W ilk e s-B arre & W e st S id e ...........9.63
6%
7 5,000
7 5,000
100.000
P ly m o u th B rid ge C o
I E n tir o s to c k and b o n d s d e p o site d u n der co lla te ra l tru st o f 1895.
* E n tiro a m o u n ts o w n e d b y the W .
W . V alley T r a c .
D iv id e n d s In this ca se are d e p e n d e n t u p o n ea rn in g s.— V . 8 9 , p . 1598.
(n) W ilk e s - B a r r e D a lla s & H a r v e y ’ s L a k e R y .— T h e W ilk e s -B a r re
W y o m in g V alley T r a c t io n C o . o w n s ail tn e s to c k .
O R G A N I Z A T I O N .— A re o rga n iz atio n In 1898, per p lan In V . 6 6 , p . 1190,
o f th o W ilk esb arre & N o rth e rn R R . , s o ld b y S h e riff in S e p t. 1898.
R oad,
p a rtly c o n s tr u c te d , w as co m p le te d and e le ctrica lly e q u ip p e d b y n ew c o m
p a n y fro m L u zern e, P a ., there co n n e c tin g w ith W ilk e s -B a rre
W y o m in g
V a lle y T r a c tio n to H a r v e y ’s L a k e , P a ., 14.68 m iles.
STOCK AND BONDS—
S to c k $ 20 0 ,0 0 0 ($ 5 0 )_________ — A ll s to c k o w n e d b y W .- B . & W . V al. T r a c .
1st m o rtg a g e $ 15 0 ,0 0 0 g o l d / 1898
5 g M -S
$ 15 0 ,0 0 0 S ept 15 1928
($ 5 0 0 )____________________ c * l I n t . a t A n th ra cite S a v . B k ., W ilk e s b ., T r u s .
— V . 6 9 . p . 133.
_________
S
c
a
S
c
S
c
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
W IL M IN G T O N , N . C.
T ID E W A T E R P O W E R CO.
O R G A N I Z A T I O N .— C h a rte re d F e b . 1907 In N o rth C a r o lin a a n d has
a c q u ir e d th rou gh c o n s tr u c tio n a n d p u rch a se all the p r o p e r ty u sed in fu r
nishing e le c tr ic ligh t a n d p o w e r , gas a n d street ra ilw a y s e r v ic e in W il
m in g to n , N . O ., a n d v ic in it y .
In A p ril 1917 a cq u ire d all th e p r o p e r t y o f
tho C o n s o lid a te d R y s ., L ig h t & P o w e r C o ., fo r m e r ly c o n tr o lle d b y s to c k
ow n e rsh ip an d leased.
P o p u la tio n o f t e rrito ry s e rv e d , 3 6 .0 0 0 .
H as a
10-yoar c o n tr a c t fro m 1916 w ith the c it y fo r stre e t ligh tin g .
In
o p in io n o f c o u n s e l, are w ith o u t tim e lim it a n d th o ra ilw a y fra n c h ise Is
e x c lu siv e u n til 1937.
STO C K A N D BONDS—
C o m m o n $ 6 0 0 ,0 0 0 ____________ ______
A -O
$60 0 ,0 0 0 O c t. T 7 . 3 H %
P re f$ 6 00 ,00 0 5 % cu in (se e t e x t ) ____
See text
5 9 5 ,90 0 M o ’ tn ly , H %
C onsol R ys, L
P C o 1st M g l 1902
5 g J-J
4 7 6 ,6 0 0
J u ly 1 1932
T r u s t C o .,
(c lo s e d ) ($ 5 0 , $ 1 0 0 , $ 5 0 0 ,} In te re s t a t Safe D e p o s it
B a ltim o r e , M d . , T ru ste e .
$ 1 . 0 0 0 ) ..................................... c l
F irst in o rtg a g o $ 2 ,0 0 0 ,0 0 0
1909
5 g J -J
8 3 9 ,0 0 0
Jan 1 1949
($ 1 ,0 0 0 ) g o l d .......................c * I n t . a t P e n n . C o . fo r In s. o n L . , & c ., P h ila .,
tru stee.
G en era l m o rtg a g e $ 50 0 ,0 0 0 g 1917
_ _
_.
6 g F -A
3 5 0 ,0 0 0 A u g 1 1920
($ 1 ,0 0 0 )________________ c * t f U n t . a t G u a r a n ty T r u s t C o ., N . Y . , T r u s te e .
— In 1912, b y c o n se n t o f c o m m o n s to c k h o ld e rs , p re f. s to c k w as m ad e
a 6 % s to c k a fte r th o c o m . has re c e iv e d 7 % In a n y y e a r. T h e e xtra 1 % ,
h o w e v e r . Is n o t c u m u la tiv e .
A d d itio n a l 1st M . b o n d s m ay b e issued a t 8 5 % o f c o s t o f new p r o p e r t y a n d
ex te n s io n s , b u t o n ly w hen net earn in gs eq u a l 5 0 % m o re th an in t. on a ll
b o n d s o u t a n d in clu d in g a m o u n t t o b e Issued. D u rin g life o f G e n . M t g e .
b o n d s , h o w e v e r , o n ly $ 2 0 0 ,0 0 0 a d d itio n a l 1st M . b o n d s m a y b o issu ed.
T h o 1st M . b o n d s a ro s u b je c t t o ca ll in e n tire ty o n ly a t fo u r w e e k s ’ n o tic e a t
105. S in k in g fu n d o f 1 % b ega n 1914; $ 1 6 ,0 0 0 h a v e been r e tire d . V . 8 9 ,
. 4 71 . T h o C o n s o l. I t y s ., L t .
P . C o . b o n d s h a v e a s in k , fu n d o f 1 % o f
o n d s o u ts ta n d in g fr o m J u ly 1 1904 t o 1914; 1 H % t o 1924 a n d 2 % th e re
a fte r .
F u n d t o b e In v ested in b o n d s a t n o t e x c e e d in g 105 a n d I n t., b u t
b o n d s aro n o t s u b j. t o c a ll. $ 12 3 ,4 0 0 b o n d s h a v e b e e n re tire d .
R e m a in
ing G e n . M t g o . b o n d s m a y b o Issued o n ly fo r a d d itio n a l p h y s ica l p r o p e r t y ,
im p ts . a n d b e tte rm e n ts w hen earnings a v a ila b le fo r Int. on these Donds
aro a t least 3 tim es Interest ch arge s, in clu d in g b o n d s p r o p o s e d .
N o p rio r
lien b o n d s ex c e e d in g $200 ,0 0 0 m a y b e Issued an d n o n ew m o r tg a g e euu«A *» -
F nh e,
ra c iss
Dte In rs Ots nin. Mtu .
a . teet. u tad g a rity
S
c
S
c
S c.
tok
g
S
c
130
E L E C T R IC R A IL W A Y S
p r io r to this m ortg a g e w ill b o cre a te d w h ile these b o n d s are o u ts ta n d in g and
u n p a id .
The G en . M . b o n d s are re d . a t 101 a n d tnt. a t a n y tlm o o n 60
d a y s n o t ic e . T a x -fr e e in N . Y . S ta te . V . 105. p . 1105.
t o J a n . 1 1913 5 % p e r a n n u m w as b ein g p a id o n p r o f.
( M % m o n t h ly , o m ittin g J a n . a n d J u ly ). O n J an . 1 1913 b ega n p a y in g 6 %
p er a n n u m (J * %
m o n t h ).
O n c o m .. 1st d i v ., 2 % , p a id A p r . 1910;
O c t ., 2 % ; in 1911, 6 % ; in 1912, A p r ., 3 % ; O c t ., 3 % a n d 1 % e x tra , a n d is
n o w p a y in g at th e rate o f 7 % p o r a n n u m (3 > * % s o m i-a n n u a lly ).
E A R N IN G S
30 '1 7 .
31 '1 6 .
31 T 5 .
G ross ea rn in g s ................... ...........................
* 4 8 9 ,9 0 4
* 4 7 0 ,0 9 5
* 4 4 0 ,5 9 6
N e t , a fte r op e r. exp en ses a n d t a x o s . .
* 1 8 5 ,1 1 8
* 1 7 2 ,6 2 5
* 1 75 ,42 6
B o n d in terest (p rio r lie n s ).....................
6 8 .0 2 5
6 5 ,6 8 4
6 1,0 50
,,P * e d.—rio
j,vdns P r
ec
ah
.—e rse dd Ju e
Ya ne— n
Dc
e.
Dc
e.
B a la n ce .....................................................
$ 1 1 7 ,0 9 3
* 1 06 ,94 1
*1 1 4 ,3 7 6
P R O P E R T Y .— T h e p o w e r s ta tio n has a to ta l c a p a c ity o f 3 ,8 0 0 k .w .
3/f 10
has a 5 8 5 ,0 0 0 -c u .-ft. d a ily c a p a c ity , b r ic k b u ild in g s a n d 2
00*00 16 U °lders ° f 2 7 0 ,0 0 0 c u . f t . c a p a c ity ; 4 2 .5 6 m iles gas m ain s. O f the
2 9 .2 8 m iles o f tra ck in the ra ilw a y s y s te m 68 % a re d o u b le t r a c k e d . 36
p a ssen ger a n d 7 fre ig h t an d m is ce ll. ca rs . A n ow ca r h ou se a n d s h o p w ere
b u ilt In 1916. O w ns a n d leases to th e A tla n t ic C o a s t L in e R R . 1.5 m iles o f
tr a c a a lo n g the w a ter fr o n t. A ls o ow n s a large a m u se m e n t p a v ilio n a n d
severa l c o tta g e s a t W r lg h ts v llle B e a c h ; co n tr o ls th ro u gh s to c k ow n ersh ip
,e b e a c h , a n d o w n s a large a u d ito r iu m seatin g 2 , 000, to ge th e r
w ith th ree large tra cts o f Im p r o v e d real es ta te a lo n g th e ra ilw a y.
O F F I C E R S .— P r e s ., H u g h M a c R a e ; V .- P ., M . F . H . G o u v e rn e u r; 2d
2 i i . P i U>
M c Q u e e n - S e c. & T r e a s ., H . W o o ic o t t ; G e n . M g r ., A . B .
S k e ld in g .— V . 104. p . 6 6 5 , 1 593, 2 23 6 ; V . 1 05. p . 1105; V . 106? p ! 925.
W O R C E ST E R ,
M ASS.
NEW
E N G L A N D IN V E S T M E N T & S E C U R IT Y C O .
.
.— T h e *1 0 0 ,0 0 0 c o m m o n s to c k o f this c o m p a n y form e rly
nelcl b y S an derson & P o rte r w as a cq u ire d b y a preferred s to c k h o ld e r s '
c o m m it t e e (V . 99, p . 1215) In O c t. 1914. H o ld e rs o f a b o u t 3 4 ,0 0 0 shares o f
p r e f. s to c k su b scr ib ed *10 fo r e v e r y share o f p r e f. o w n e d in o rd e r to e ffe c t
th e p u rch a se.
V . 9 9 , p . 6 0 9 , 6 7 5 , 1215.
T h e N ew E n gla n d N a v ig a tio n C o . o w n s th e * 1 3 ,7 0 9 .0 0 0 fu n d in g g old
n o te s , b u t in pu rsu a n ce o f th e o rd e r o f th e U . S . D e p a r tm e n t o f J u stlco th e
n otes h a v e to b e s old b y J u ly 1 1919.
.— B y v o t o o f th e trustoos o n S e p t. 2 0 1917
th e p lan t o exch a n g e th e $ 4 ,0 0 0 ,0 0 0 4 % p re f. s to c k (p a r $ 100) fo r an equal
n u m b e r o f shares o f 1st p r o f, s to c k o f th e W o rce ste r C o n s o l. S t. R y . b eca m e
v e - . ^ e la tte r has a p a r va lu e o f * 8 0 per share a n d is e n title d to
* 1 0 5 por share in th e e v e n t o f liq u id a tio n an d t o cu m u la tiv e d iv s . o f $5
p er s h a re. E x ch a n g e o f th e s to c k relieves th e N . Y . N . H . & H . R R . o f
its g u a r a n ty o f d iv id e n d s th e re o n .
V . 104, p . 2 5 5 9 . V . 105, p . 1618
A s o f J a n . 1 1918 3 8 ,5 5 4 shares h a d been ex c h a n g e d .
Cn o
otr l
Ec ag o P fe dS c
xhne f re rre tok
[Vol. 106.
uelu
os
Ya EGoss ENtg. Inx sc Da e d S rp it.o STta.
e r— arin . a e s T ret,. Pid.ns Dfics r tirp l
rnsg rn a .,A ivid
in te
lu
E A R N I N G S .— F o r c a l. y e a r 1916 a n d yea rs e n d . J ne 30:
_
J 2 ! § V , t $M 0 1 *954 8 46 7 .0 7 3
$ 2 8 8 ,0 1 0 (5 t f)$ 2 1 4 ,3 7 2 d e f.$ 6 5 .3 1 0 *3 4 ,2 7 2
} 9 J5-J6
5 3 9 .39 4
2 9 3 ,7 8 0 (6 9 * ) 274 ,15 7 d o f. 28,5 43 2 3 ,9 4 0
1914-15 2 ,1 2 6 ,4 1 3 6 5 4 ,5 3 9
3 0 6 .09 2 (6>*) 241 ,02 6
su r. 7,421 103,123
— V . 104, p . 2 45 3 ; V . 105, p . 1899, 1999; V . 106, p . 1462, 1797.
(2 ) W o r c e s t e r C o n s o l i d a t e d S t r e e t R y .— T r o lle y .
T h is c o m p a n y , w h ic h w as In co rp o ra te d in 1886 as th e C itiz e n s ' S tre et R y .
C o ., has a b s o rb e d th e fo llo w in g c o m p a n ie s :
C lin to n & H u d so n S treet I t y .,
W o rce s te r & C lin to n S treet R y . ,
F itch b u rg
S u b u rb a n S treet R y . ,
W o r c e s te r & H o ld e n S treet R y . ,
L eom in ster & C lin to n S treet R y . ,
W o rce s te r & M a r lb o r o S treet I t y .,
M a r lb o r o & W e s tb o r o S treet R y . ,
W o rce s te r
S o u th b rld g e S treet R y . ,
W ore. & B ia ck s to n o V al. S t. R y .
W o rce s te r & S u bu rban S treet R y .
p e rp e tu a l. In 1895 leased fo r 99 years th e N o r th E n d S t. R y . .
?£ 5 .1 3 m iles, at a y e a r ly ren tal o f * 8 .0 0 0 . T h e N o r th E n d has * 1 1 0 ,0 0 0
($100) c a p ita l s to c k and * 7 5 ,0 0 0 5 % 1st m tg e . b o n d s , d u e F e b . 1 1915; Int.
F . & A . A ls o leases fo r 99 years fro m J u ly 1 1896 b o th th o W o rce s te r &
S h re w sb u ry S t. R y . C o . a n d th e W o rce s te r & S h rew sb u ry R R . C o .
. 4 , 1 9 0 shares 1st p re f. a n d 3 3 ,2 6 0 shares c o m m o n s to c k aro o w n e d b y
th e N . E . I n v . & S e c. C o .
In A u g . 1909 perm ission w a s g r a n te d t o Issue * 9 2 2 ,0 0 0 b o n d s t o retire
flo a tin g d e b t a n d * 2 .2 6 0 ,0 0 0 b o n d s t o retire fu n ded d e b t . V . 8 6 . p . 1346;
V . 8 9 , p . 4 12 . U p t o J a n . 1 1918 * 1 .4 9 0 .0 0 0 had been Issued.
In J a n . 1913 th e M a s s . R R . C o m m , a p p r o v e d an Issue o f * 6 0 0 .0 0 0 1st
oc re f. 4 9 * s , th e p ro ce e d s o f * 4 5 0 ,0 0 0 b ein g usod t o a cq u ire th o p o w e r h ou se
and p r o p e r ty o f th e E le c tr ic M f g . C o . a n d * 5 0 ,0 0 0 fo r th e p u rch a se o f th e
Q u ln slg am o n d P ark p r o p e r ty fo r a pleasure re s o rt. T h o c o . is req u ired t o
establish a s . f . b y a n n . p a y m e n t o f $ 1,9 49 till m a tu r ity o f b d s . V . 9 6 , p . 3 62 .
O n N o v . 16 1915 th e M a s s . P . S . C o m m . a u th . th e issue o f * 1 ,8 1 4 ,0 0 0
a d d itio n a l s to c k a t p a r t o p a y fo r p e rm a n e n t lrnpts. a lre a d y m a d e .
V.
101. p . 1887. T h is a m o u n t is in clu d e d in th o ta b le .
.— In M a y 1917 th o M a s s . P . S . C o m m . a u th . t h o c o .
t o Issuo (a) 4 5 .0 0 0 shares o f 1st p r o f, s to c k (p a r $80) t o retire 3 6 .0 0 0 shares
o r c o m m o n s to c k a t p a r ($ 1 0 0 ), w h ich w as a c c o r d in g ly d o n e , a n d (6) $ 4 0 ,0 0 0
o f 1st Ito f. 4 9 * % 2 0 -y e a r b o n d s t o retire $ 4 0 ,00 0 U xb rid go & B ia ck ston o
5 % d e b e n tu re s d u e O c t. 1 1 927.
T h o s e b o n d s u p t o J a n . 15 1918 had
n o t y e t been issu ed.
&
&
F nh e
rac iss
NwP fe dS c
e re rre tok
Dte In ret. Ots nin. A tu .
a . te s u tad g la rity
8TO O K A N D BONDS—
C o m m o n * 3 .3 2 6 ,0 0 0 ($ 1 0 0 )...............................................$ 3 ,3 2 6 ,0 0 0 ..........................
P r e f (see t e x t) $ 3,6 0 0 ,0 0 0 ($ 80) ....................................
3 ,6 0 0 ,0 0 0 ..................
W 2£c ,£ S nj?l?i.s t , a t & r e f m t g f 1910 494 g F -A
l
1 ,4 9 0 .0 0 0 A u g 1 1 9 3 0
* 5 ,0 0 0 ,0 0 0 g (* 1 ,0 0 0 ) c * t f j O ld C o lo n y T ru s t C o . , B o s t o n , T ru s te e .
W orcester C o n s o lid a te d d e b / 1907
5 M -N
1 .2 0 0 .0 0 0 N o v 1 1 9 2 7
* 1 .3 6 4 ,0 0 0 (* 1 ,0 0 0 ) — n t f (O ld C o lo n y T ru s t C o ., B o s t o n , T ru s te e .
W ore C o n d e b g $ 84 0 ,0 0 0 n t f 1900
494 g M -S
7 0 0 .0 0 0 M a r 1 1920
W o rce s te r & C lin to n fir s t / 1899
5 g J -J
1 1 5 .00 0 Jan 1 1 9 1 9
t
— la a v o lu n ta r y a ss o cia tio n a n d w as org a n ize d on
m o rtg a g e g o ld ($ 1 ,0 0 0 ) n t f lA m e r lc a n T r u s t G o . , B o s t o n , T ru s te e .
J u n e 25 1906 t o ta k e o v e r th e stre e t ra ilw a y p ro p e rtie s in M a s sa ch u se tts
W 2onn n ^ c4cst? r ,° Y a ' l s t M /
1906 494 K F -A
2 0 0 .0 0 0 A u g 1 1926
fo rm e rly c o n tr o lle d b y th e C o n s o lid a te d R a ilw a y C o . V . 8 3 , p . 4 92 .
* 2 0 0 ,0 0 0 g (* 1 ,0 0 0 ) - C n t f } ln t e r e s t a t o ffic e o f c o m p a n y .
S E C U R I T I E S O W N E D .— T h e fo llo w in g is a list o f s to c k s h e ld b y th e
U xb rid ge & B la ck st f i r s t / 1903
6 F -A
8 0 .0 0 0
F e b 2 1923
N e w E n gla n d In v e stm e n t & S e cu rity C o . (see V . 8 3 , p . 1 10 0 ).
tt
8 8 0 .0 0 0 ( * l , 0 0 0 ) . c n t f l i 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 .
M ilfo r d A tt ie b o r o & W o o n s o c k e t S t. R y .— * 3 1 5 ,0 0 0 c a p ita l s to c k .
& B la ck st d e b e n f
1907 5 A -O
4 0 .0 0 0 O c t 1 1927
W o rce s te r C o n s o lid a te d S t. R y .— 4 .1 9 0 shares (o u t o f 4 5,0 00 ) 1st p re f.
( $ 1 , 0 0 0 ) ---------------------------t f (In te re s t a t o ffic e o f c o m p a n y .
s to c k (p a r $80) a n d ail th e c o m m o n s to c k .
M a r lb & W e stb 1st M * 160.-1
1901 5 g J-J
160 .00 0 J u ly 1 1921
S prin gfield R a ilw a y C o s .— 6 8 ,0 0 0 shares (en tire Issue) o f c o m m o n s to c k .
000 g ( * l ,0 0 0 ) r e d 105 c * n t f \ I n t . a t A m e r . T r u s t C o ., B o s t o n , T ru s te e .
VV2nn
mtpi0 M 5 0 .-} 1903
6 A -O
1 50.000 O c t 1 1 9 2 3
leM S treet*R yT j ° 0S’ ° WnS 46,492 o u t o f a to ta l o f ‘16-547 shares o f Spring0 00 ,8, (8 1-0 0 0 ) red a t 105>■ I n t . a t W o rce s te r T r . C o . , W o r c e s te r , T r u s t .
V ariou s s treet ra ilw a y c o m p a n y b o n d s . * 2 1 4 ,0 0 0 , a n d n o te s , * 6 7 8 ,0 7 3 .
(V . 8 9 . p . 9 9 5 )............... e n t f j
W or
S o u th 1st m tg e
1902
494 g M -S
5 0 0 ,0 0 0 S e p t 1 1 9 2 2
STOCK AND BONDS—
g o ld ( * 1 ,0 0 0 ) . . c * n t f l i n t , a t In to rn a t. T r u s t C o ., B o s t ., T r u s to e .
C o m m o n ...................................................................................
$ 100,000 .......................
W orcester & S o u th m tg e (seel 1905
494 g J -D
2 0 0 .0 0 0 J u n e 1 1925.
P r e f. 4 % ($ 1 0 0 ).......................................
4 J -J
144 ,60 0 Jan ’ 18. 2 %
« * » ) .......................- ........... n t f f
1 3 ,7 09 ,0 0 0 A p r . 1 1924
F u n d in g g o ld n o t e s ............... t f - 1909 See te x t
—
.— D iv id e n d s o f 4 % p e r a n n u m o n th e p r e f. s to c k are cu m u la tiv e
W ebster & D u d lo y /S t o c k ___________
___________
$ 6 0 ,0 0 0 ____________
a n d are gu aran teed b y th e N e w Y o r k N e w H a ve n & H a r tfo r d R R . , and
r .i* s \ M o rtg a g e 1899
5 M -N
3 0 ,0 0 0
N ov 11919
a lso * 1 0 5 p er share in ca se o f liq u id a tio n . V . 8 3 , p .4 9 2 .
See fo rm o f gu ar&
.—
* n t y in V . 8 3 , p . 1 102. T h is s to c k m a y b o c a lle d as an e n tire ty at a n y tim e
W ore [ S t o c k ........ ............................................................. ..
1 5 0 ,00 0 ____________
a t 105 a n d a ccu m u la te d d iv id e n d s . S u p re m e C o u r t o f E rro rs In C o n n e c ti
& l i s t M $ 15 0 ,0 0 0 ( * l , - f 1899
5 g J -D
160 .00 0 D e c 1 1 9 1 9
c u t su sta in ed v a lid ity o f g u a r a n ty . V . 88 , p . 1002.
W e b l 0 00) g o l d ---------c * n t f |I n t . a t In te rn a tio n a l T r . C o . , B o s t ., tru stee.
N . Y . N . H . & H . g u a r ., p . & 1.. $ 5 ,0 0 0 ,0 0 0 o f th e n o te s.
In t .
S 70.992 .................... ..
o n n o te s fo r first 5 y ea rs , 3 % ; fo r th e n e x t 5 yea rs 4 % a n d fo r th e last 5 C u rre n t liab ilities Ju n e 30 1917 (in c l. a ll s u b . c o s . ) .
y e a r s , 5 % . A n a g reem e n t w a s re a ch e d w ith th e N e w H a v e n in terests In
.— T h o p r e f. s to c k is en title d t o c u m . d iv s . o f $5 p er share
1915 b y w h ich iu terest w as co n tin u e d a t th e rate o f 3 % per an n u m t o A p ril p . a . (J . 30 & D . 31) a n d * 105 per share in case o f liq u id a tio n . W h ile a n y
1917 a n d 2 % s in c e , w ith o b lig a tio n t o p a y re m a in d e r ir e a rn e d . O riginal m atu red d iv . o n 1st p re f. s to c k is u n p aid or w hile the u n fu n d e d and cu rren t
Issue, $ 1 6 ,2 5 0 ,0 0 0 , o f w h ich $ 2 ,5 4 1 ,0 0 0 re d eem ed an d ca n c e le d .
d e b t o f th e c o . shall e xce e d 2 5 % o f th o e n tire ca p ita l s to c k , 1st p r o f, share
h old ers m a y e le ct a m a jo r ity o f th o d ire cto rs . T h e 1st p r e f. s to c k m a y n o t
E A R N I N G S .— F o r c a l. y e a r 1916 a n d yea rs e n d in g J u n e 30:
b o in creased w ith o u t co n s e n t o f 2-3 o f its h old ers o x c o p t th a t in ca s e o f c o n
,,
,
s o lid a tio n w ith S p rin gfie ld S t. R y . $ 2 ,7 5 0 ,0 0 0 m a y b o issued w ith o u t s u ch
. ~ ear—
J9J «
............. ® §06.147
$ 1 5 ,9 0 9
* 4 9 0 .2 3 8 * 4 1 1 .2 7 0 *1 60 .00 0 d f* 81 0 3 2 c o n s e n t. V . 104. p . 2344.
1 9 1 5 -1 6 ..................592 ,27 1
16,401
5 7 5 ,8 7 0
4 1 1 ,2 7 0
1 6 0 ,00 0 4 ,6 0 0
— W o r e . C o n s o l. R y . 1st & R e f. b o n d s are s u b . t o ca ll o n a n y In t .
1 9 1 4 -1 5 ................. 5 8 4 ,8 6 4
2 7 ,8 2 0
5 5 7 ,0 4 4
3 7 6 ,9 9 7
160 ,00 0 2 0,0 47
d a y a t 110 a n d in t. I n t . is p a y a b le a t c o m p a n y ’s o ffic e o r at Its a g e n c y Id
B o s to n . T h e tw o Issues o f b o n d s o f th e W o rce s te r & S o u th b rld g e S t. I l y .
O F F I C E R S .— P r e s ., F r a n c is H . D e w e y , W o r c e s te r , M a s s .; V ic o -P r e s .,
O h as. E . W a ro, F itc h b u r g , M a s s .; S e c ., F . P . M c I n t y r e , S p r in g fie ld . M a s s .; are secu red b y th e sa m e m t g e ., th e m tg e . p r o v id in g th a t b o n d s ca n b e Issued
T r e a s ., L e v e r o tt C a n d e o , S p r in g fie ld , M a s s .— V . 104, p . 2 559; V . 106, p . up t o * 1 ,0 0 0 ,0 0 0 , a n d a re t o b e ar d a te o f Issue a n d be p a y a b le 20 ye a rs a fte r
d a te . W o r e .
W e b . b o n d s c a n n o t b e c a lle d b e fo re m a tu r ity . * 3 ,0 0 0 Is
1689.
p a y a b le a n n u ally Into a sin k in g fu n d .
(1) S p r i n g f i e l d R a i l w a y C o m p a n i e s .— A h o ld in g c o m p a n y .
R O A D .— O perates 3 0 0 .0 8 m iles o f t r a c k , c o m p risin g th o e n tire streot
O R G A N I Z A T I O N .— F o rm e d in M a r c h 1905 t o h o ld a m a jo r it y o f th e ra ilw a y m ilea ge o f W o rce s te r , to g e th e r w ith lines ra d iatin g fro m W o rces ter
s to c k o f th e S prin gfield S treet R y . Is m an ag e d b y a b o a r d o f trustees t o L e o m in ste r, F itc h b u r g , C lin to n , B erlin , N o r t h b o r o , M a r lb o r o , M illb u r y ,
con sistin g o f seven m em b e rs . V . 8 0 . p . 1363.
N o r th b r id g e , U x b rid g e , M illv ille , S p e n ce r, W o b s to r, D u d le y , G r a fto n a n d
S o u th b rid go .
STOCK—
C o m m o n ------------------------------------A ll o w n e d b y N e w E n g . I n v . & S e cu r. C o .—
E A R N I N G S .— F o r c a l. y e a r 1916 a n d yoars o n d in g J u n o 30:
P r e f 4 % c u m gu ar ( $ 1 .) i . . .
4 J-J
* 3 .3 8 7 ,9 0 0 J a n . ;’ 18, 2 %
. „ : ar—
} 9 }6 ................. - ........... $ 3 ,1 7 8 ,4 9 4 $ 98 4 ,8 0 9 $50 3 ,2 4 5 $ 34 6 ,3 0 0 $ 135,263
T h e ' p r o f. sto. •
ro d . a t 105 a n d a c c r . d iv s . T h e s e d iv s . are
1015-16........................... 2 ,9 9 7 ,7 0 0
9 4 2 ,38 0
554 ,25 7
3 0 0 ,95 0
8 7,1 73
g u a r , b y th e N . Y . N . II.
R R . C o ., s u cce sso r t o C o n s o l. R y . , as w ell as
1914-15............................ 2 .7 4 0 ,2 2 5
8 5 3 .36 5
563 ,81 0
2 8 1 .1 6 0
8 .3 9 5
fr e! « ? a y m 2 2 i ? t 1° 5 In caSt
u ld a tio n o r c a ll. S ee V . 8 0 , p . 1363. 1 914.
v . 1 05, p . 2095.
— V . 101, p . 1887; V . 10-4, p . 1900, 2344; V . 105, p . 1619; V . 106, p . 1690.
(se
e{
Dte In ret. Ots nin. Mtu . tx)
a . te s u tad g a rity et&
Lae t Wcse Cno a d
esd o o etr os lidte
r
Lae t Wse Dd yoe b We Cno
esd o e tr ule, pr. y o . os l
b
r
Sc
tok
Nte.—
os
P fe dS c
re rre tok
DBed liou c m teoss Didns Brpc.
.
la e
In ive& Dds- InNt. InNte.n l reerre. Sa ns,
t. s . enc oee reto iv fedd u lu
.
Bns
od.
&
In ret. Ots nin. Ls D.
te s u tad g at iv
S c.—
tok
(a ) S p r i n g f i e l d S t r e e t R y . 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 t
M a rch
16
1868. P u rch a se o f
W e ste rn M a s sa ch u setts S tr e e t R y . and Issue o f * 5 5 0 ,0 0 0 a d d itio n a l
s to c k fo r th a t p u rp os e a p p r o v e d b y M a s s . R R . C o m m . N o v . 30 1909. V .
8 9 . p .1 4 8 4 . O n N o v . 26 1910 M a s s . R R . C o m m , g r a n te d p e r m ls sio n t o p u r
ch a s e th e S prin gfield & E astern S t. R y . and Issue * 9 0 0 ,0 0 0 now s to c k in ex
ch a n g e , share fo r s h a re, fo r s to c k o f th e a b s o rb e d c o m p a n y .
V . 9 1 , p . 2 77,
1 51 3 . In M a y 1917 m ad e a c o n tr a c t w ith th e T u m o r s F a lls P o w .
E le c .
C o . fo r th e p u rch a se o f its e n tire p o w e r re q u ire m e n ts . V . 10-1, p . 2 119.
O n N o v . 18 1915 th e M a s s . P . S . C o m m . a u th . th e Issuance o f 9 .4 7 2
shares ad d ition a l s to c k a t 110 t o p a y flo a tin g d e b t in cu rred fo r p e rm a n e n t
im p r o v e m e n ts.
V . 101. p . 1887. N ew s to c k issued Ju n o 27 1916.
In A p ril 1918 w as a u th o riz e d b y th e P . S. C o m m iss io n t o astabllsh a
t w o -u n it-fa r o p ro g ra m . T h e 6-c e n t fa re is t o b e re ta in e d In th e ce n tre o f
S p r in g field w ithin a radius o f 2 m ile s . B e y o n d this lim it a 6-c o n t-fa r o zone
w ill b e e s ta b lis h e d , fo llo w e d b y a s e c o n d 5-c o n t z on e.
O n N o v . 2 1917 th e M a s s . P . S. C o m m . a u th . t h e c o . t o Issue $ 3 ,2 7 5 ,0 0 0
b o n d s , p a y a b io 20 yea rs fr o m d a te o f issue and b earin g n o t t o e xce e d 6 %
in te re s t, o f w h ich $ 2 ,3 0 5 ,0 0 0 fo r re fu n d in g p reson t b o n d issues a n d $97 0 ,0 0 0
t o fu n d flo a tin g d e b t , & c. ( o f w h ich $ 73 8 ,0 0 0 in cu rred fo r a d d ’ns a n d b e tterm on ts a n d $ 23 2 ,0 0 0 fo r w o r k in g c a p ita l. T h e s e h a d n o t b e e n Issued as
o f J a n . 15 1918. V . 105, p . 1899.
STOCK AN D BONDS—
S to c k * 1 ,6 5 4 ,/0 0 (* 1 0 0 )_______ ______
T ext
* 4 ,6 5 4 ,7 0 0
Seo
text
Firsti m t * e * 1 .7 0 0 .0 0 0 g o ld 1 1903 4 g A -O
1 .7 0 0,00 0 A p ril 1 1923
($ 1 ,0 0 0 )
- - - -C * . n tfJ S p rin g fie ld S afe D e p . & T r u s t C o ., T ru ste e .
M ??8 S.t .
m t g o i 4906
5 g F -A
2 0 0 .0 0 0 F e b l 1926
(Closed) g o ld ( * l , 0 0 0 ) - - . t f J ln t. a t S prin gfie ld S . D . & T r . C o . . T ru ste e .
W o r o n o c o S treet Ity fir s t} 1900
5 g J -J
7 5,0 00
Jan 1 1920
„
,00° ) -------n t f/S p r in g fie ld S afe D e p . & T r u s t C o . , T ru s te e .
S prin gfield & E astern 1st M l
1902
6 g J -J
3 3 0 :0 0 0
Jan 1 1922
(clos ed ) g ($ 1 ,0 0 0 ) c * . n t f l i n t , a t S prin gfie ld S . D . & T r . C o ., T ru ste e .
C u rre n t liab ilities Ju n e 30 1917............. .......................
1,17 2 856
1
.— W es tern M a s s . S t. R y . b o n d s are s u b jo c t t o ca il on a n y in terest
, 7 . at} 108 a n d in t. on 60 d a y s ’ n o tic e . S p rin gf. & E astern b o n d s are
s u b je c t t o ca ll a t 105 o n 60 d a y s n o t ic e .
&
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
-z
...
Bns
od
years 1893 t o J u ly 30 1910, In clu sive, 8 % p o r a n n u m ,
n l 9 1 * l l t o 1913-14 7 % ; In 1 91 4 -1 5. 6 1 * % ; In 191 5 -1 6. 6 1 * % ; in D e c .
1916. 1 9 4 % . N o n e s in ce .
V . 105, p . 1999.
R O A D — O w ns 176.71 m iles (in c l. 3 4 .5 6 m iles o f 2 d tra ck ) o f m ain tra ck
a n d 11.83 m iles o f s id in g s. T o t a l . 1 87 .50 m iles.
Y
f
Gos
r s.
Nt.
e
Cags Ds S rp s.
hr e. iv. u lu
(3) M ilf o r d A t t l e b o r o & W o o n s o c k e t S t r e e t R y ."
O R G A N I Z A T I O N .— I n co r p o ra te d In M a ssa ch u se tts o n A p r il 14 1898.
STOCK A N D BON DS—
S to c k * 3 1 6 .0 0 0 -----------—
A ll o w n e d b y N e w E n gla n d I n v . & S e cu r. C o .
F irst M * 3 0 0 .0 0 0 g ( * 1 ,0 0 0 ) / 1899
5 A -O
* 3 0 0 ,0 0 0 O c t 1 1 9 1 9
n o t s u b je c t t o c a ll...........n t f l i n t , a t O ld C o lo n y T ru s t C o ., B o s t o n , T r u s t .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
Ya e d g
e r nin—
Gos Nt. In ATxs Ds S rp s
r s. e t. ae. iv. u lu.
D e c . 31 1 916........................$107 ,9 0 5 $17 ,52 4
Ju n o 30 1 916------------------- 107,482
2 1,6 67
J u n o 30 1 91 5 ........................ 112,654
3 3,0 19
R O A D .— O perates 29.7 2 m iles o f t r a c k .
$19 ,26 9
............. d o f$ l,7 4 5
20,9 46
.............
721
20,311 * 1 2 .6 0 0
108
22 pass, a n d 7 o th e r ca rs .
I N T E R -S T A T E C O N S O L I D A T E D S T R E E T R Y .
O R G A N I Z A T I O N .- - o r g a n iz e d as su ccessor In M a ssa ch u se tts t o th e
In te r-a ta te C o n s o lid a te d o f K h o d e Islo n d . H a s p erm ission t o ca r r y fr e ig h t.
STOCK—
S to c k * 2 7 6 ,0 0 0 (p a r * 1 0 0 )............................................
* 2 7 5 ,0 0 0
D e c ’ 14, 2 %
C u rren t liabilities J ’n e 30 1917____
____ _ _ ..
2 7 0 .7 9 0
____ ,_______
.— F irst d i v ., 1 1 % , fo r 2 yea rs, p a id A p ril 1 1904: In 1906
7 % ; in 1906, 7 % : In 1909. 5 % ; In 1910 t o 1912, In cl., 4 % ; In 1913, 5 % : in
1914, J u n o , 6 % ; D e c ., 2 % .
N o n e sin ce.
R O A D .— O w ns 2 4 .1 0 m iles o f tra ck a n d 1.93 m iles o f s id in g s, fro m
R h o d e Isla n d S ta te lin e t o N o r t h A ttle b o r o u g h , A ttle b o ro u g h a n d P la ln v ille . M a s s .
—
D e c . 31 1916...................... * 1 8 8 .1 5 0 $ 2 5 ,76 8
$19,051
s u r.$ 6 ,7 1 7
Ju n o 30 1 916...................... 172,114
2 4 ,2 4 5
2 0,347
s u r.3 .8 9 8
Ju n o 3 0 1 915...................
174.0 8 8_ 28.150 _____ 2 3,553 $ 5 .5 0 0
d o f .902
O F F I C E R S .—
D ow by,“ W o rce ste r; V .- P ., O . V . W o o d ,
S prin gfie ld ; G e n . M g r ., H . O . P a g e , W o rce s te r; T r e a s ’. , L . C a iid e o , S p rin g
field; C le r k , F . P . M c I n t y r e , S p rln gfio ld ; A u d ., J . W . J a m lo s o n .— V ,
73, p . 23S.
In ret. Ots nin. Ls D .
te s u tad g at iv
Didns
iv e d
Ya e d g
e r nin
Gos
r s.
Nt. CagsDs
e hr e. iv.
Blac.
a ne
W A R E & B R O O K F I E L D S T R E E T R A I L W A Y .— A tr o lle y r o a d .
.— O n A p riP 2 3 1918, S w ift, M c N u t t & C o ., Junk doalors o f B o s to n ,
M a s s , p u rch a se d th o c o . ’s’ p ro p e rty , a t a u c tio n fo r $ 5 1 ,0 0 0 . O p eration s
w ere a b a n d o n e d o n F e b . 3 1918. V . 106, p . 1797. Ito p o r ts s ta to th a t th e
S e le ctm a n o f th o tw o to w n s th ro u gh w h ich (th o ro a d ru ns a ro en d e a v or in g
t o p ro v o n t t h o j u n k i n g o f th o lino. V . 106, p . 1902.
S le
a
m a y , 1918. J
ELECTRIC RAILWAYS
YORK, PA.
Y O R K R A IL W A Y S .— A trolley road.
O R G A N IZ A T IO N .— Incorporated In Pennsylvania N o v . 15 1907 as a
consolidation o f properties operating in Y ork and vicin ity. V . 85, p . 1403.
Franchise perpetual.
T he following com panies have been consolidated or merged:
Y ork Street Railway C o .,
York Haven Street R y . C o.
W rightsville & York Street R y . C o. R ed Lion & W indsor Street R y . C o .
Y ork Sc D ov er Electric R y . C o .,
H anover & Y ork Street R y . C o .
Y ork & Dallastown R y . C o.
Owns entiro capital stock o f Edison Light & Power C o. (except 4$ o f 1
share), incorporated In April 1913 to take over the lighting and power sub
sidiaries o f the York Railways and other properties, including the Edison
E lectric Light C o ., the lighting companies o f W est Y ork , N orth Y ork, M an
chester, M ount W olf, D over, Hallam and others. In July 1915 tho M er
chants’ E lectric Light, Heat & Power C o. o f York was purchased and with
fiv e suburban lighting companies consolidated with the Edison Light Sc
P ow er C o. During 1916 a municipal lighting system was installed In York
under a ten-year con tract. A lso owns entire stock o f York Suburban Land
C o . and York Steam Heating C o. (V . 85, p . 1463).
STO C K A N D BONDS—
Date.
Interest. Outstanding.
Maturity.
C om m on $2,500,000 ($50)........................................
$2,500,000 .....................
P ref $2,000,000 5 % cum ( $ 5 0 ) -----Q-J
1,600.000 A p r ’ 18,l>*
1st m tgo& coll tr $10,000.0001 1907
5 J-D
4,938,000 D ec 1 1937
gold ($1,000)......... _ ._ c * t f [G uar. Trust & Safe D ep . C o .. Phlla., trustee.
Stock and Bonds.— Pref. stock Is cum ulative 3 years from date o f Issue.
T he stock o f the controlled Edison Light & Power C o. and York Suburban
Land C o. are deposited as additional security for tho bonds. $125,000
bonds In treasury. Remaining bonds can only be issuod under certain re
strictions. N o sinking fund. See particulars o f bonds, property, & c., in
V . 87, p. 40. Stocks and bonds are listed on the Phila. Stock Exchange.
V . 89. p. 412; V . 94, p . 984.
Dividends.— Initial d lv . on p r e f 1 % — paid July 1911. In 1912, 4 %
In 1913 and 1914. 5 % . In 1915 the regular Jan. d lv . o f 2 H % was paid In
5 % scrip dated Jan. 30 and maturing Jan. 30 1918. but called for paym ent
on Jan. 30 1916. T he July d lv . o f 2
was paid in cash. In 191 6 ,6 > *% .
In 1917, 5 % and 2 ^ % extra in Jan. in full paym ent o f accumulations.
In 1918, Jan., 1 M % : A p r., 1 \ i% E A R N IN G S .— For years ending N ov . 30:
N ov. 30.
Gross
Net {after
Int. &
Depre- Preferred Balance.
Year—
Earnings.
Taxes). Bond Disc, elation. Dividends. Surplus.
1916-17_____$1,051,472 $455,820 $251,641 $60,161 $140,000 $4,018
1915-16............. 967,496 470,788
259,075
40,541 100,000
71,172
1914-15............. 828,299 370,844
239,474
20,658 80,000
30,712
1913-14............. 796.645 348.748
223.338
16,915 80.000
28,494
Latest Earnings.— For 4 m os. end. M ar. 31 1918, gross, $384,368: not,
$172,277; charges and taxes, $112,585: sur., $59,692. In 1916-17, gross,
$360,737: not, $177,055: charges and taxos, $110,151; sur., $66,904.
R O A D .— Owns and operates about 84.54 miles o f track centering In Y ork.
Including an interurban line between Hanover and Y ork. 18.8 miles.
O F F IC E R S .— P res., Gordon Cam pbell; V .-P ., L . O . M ayer: S ec.. M .
G . Stees; Troas., E . A . Barnitz; A u d ., J. J. Landers.— V . 104, p. 165; V.
106, p. 603, 823.
________
YOUNGSTOWN, OHIO.
REPUBLIC R A IL W A Y & L IG H T C O .— (.See M a p on Page 129.)—
O R G A N IZ A T IO N .— Incorp. In Now Jersey on June 27 1911. This
com pany, b y the acquisition o f practically all o f the com m on stock o f tho
M ahoning & Shenango R y. & Light C o ., has the ownership or control of
the properties o f the following companies:
M ahoning St Shen. R y . & Lt. C o .
Penna. & M ahoning Valley R y . C o .
Pennsylvania Power C o.
T ho Now Castle Electric C o.
Sharon & N ew Castle R y . C o ., Ohio.
N ew Castle E lectric S t. R y . C o.
Sharon & N ewcastle St. R y . C o ., Pa.
T he N ew Castle & Lowell R y . C o.
Shenango Valley E lectric Light C o.
N ew Castle & Lowell R ealty C o.
Youngstown & Niles R y.
N ow Castle & M ahon . 9 t. R y . C o.
Zellenople Light & Power C o.
N ew Castle Traction C o.
Also controls tho R epublic C orp. and the Idora Park Amusem ent C o.
Merger o f Subsidiaries.— During 1914 steps were taken to consolidate a*
m any o f the properties as possible to reduce expenses, facilitate operation
and lm provo conditions for refinancing. The M ahoning & Shenango R y . A
L t. C o . absorbed the Sharon & New Castle Railways C o ., Youngstow nSharon R y . & L t. C o ., Sharon & W heatland St. R y ., Valley St. R y . and
W heatland St. R y . T ho Youngstow n & Sharon St. R y . absorbed the
Youngstown C onsol. Gas St E l. C o. In 1915 the properties o f the R epublic
Construe. C o. were transferred to the M ah. & Shen. R y . & L t. C o. In 1917
acquired tho M ahoning C ounty Light C o ., oper. a steam-heating plant in
Youngstow n. In A ug. 1917 tho M ah. & Shen. R y . Sc L t. C o. absorbed the
M ah. Valley Ity., tho M ah. Val. So. East R y ., tho Poland St. R y ., tho
Y oungstow n Park & Falls ht. R y . and tho Youngst. & Sharon St. R y . V.
104, p . 2118. Tho Sharpsville Elec. L t. C o. was merged with the Shenango
Valley E lec. Light C o. and a number o f other borough com panies around
Sharon. Tho properties now owned and operated directly b y the M a h . &
Shen. R y . Sc Lt. C o. furnish 8 2% o f the gross earnings o f the system .
Franchises.— I’ ractieally all the Pennsylvania franchises are perpetual.
R ailw ay franchises In Youngstow n expire 1933. T he m ost Im portant Inter
urban franchises In Ohio expire from 1945 to 1950 and Ohio lighting and
power franchises In 1937 and 1942.
__
Fare Increase o f Subsidiary Company.— See V . 99, p . 1673.
Fares.— 'T ho co. has applied for fare increases oyer tis entire system . A
6-cont fare is now in effect in the city o f New Castle, Pa. The question o f
an Increase on Interurban lines in Ohio is now before the Supreme C ourt o f
that State for a decision as to the auth. o f the I . U . C om m , to grant such
Increase.
_
. _, , _
In Jan. 1918 tho M ahoning & Shenango R y . & Light C o . was -authorized
b y tho Ohio P. U . C om m , to issue $2,000,000 bonds, proceeds to be used
for improvements during 1918. V . 106, p . 296.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
C om m on $7,500,000 ($100)...................... A pr '1 8 ,1 %
P f 6% cum $10,000,000 ( $ 1 0 0 ) ____
Q-J 15
5.191.400 A pr ’ 18, 1 ii
C onvertible notes $2,500,0001 1918 6 g J -J 15
1,500.000 Jan 15 1920
($ l,0 0 0 )g c* guar p & i .c p t /I n t . at First T r. Sc Sav. C o ., O leve., O ., T r.
M ah & Shen R y Sc Lt 7 % cum
pref stock $10,000,000.....................
Q -M
3,639,200 ......................
131
STOCK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
M ah & S R & L 1st & cons M
1915
5 g M -N $10,100,000 N o v 1 1920
$20,000,000 go ld — c * r * .t f [G uaranty Trust C o .. N ew Y ork , trustee.
Pa & M V 1st and refunding "
"
1902
5 g M -N
1,757,000 M a y 1 1922
m ortgage $2,750,000 gold In t. at Harris. Forbes St C o ., N ew Y o rk .
_ _
. . . .
($ 1 .0 0 0 )........................c * - t f
U . S. M tge. St Trust C o .. N . Y ..tru s te e .
New Castle T raction 1st m tgo
1897
5
g
M -N 500.000 M a y 11927
$500,000 gold ($1,0 00 ).c * tf lin t , at U nion Trust C o ., Pittsburgh, trustee.
N O Elec C o 1st M $200.000( 1897
5 g M -S
200,000 M a r 1 1927
g o ld ------------------- ------------ t f l l n t . at Union Trust C o .. Pittsburgh, trustee.
Y-S R y & Lt 1st M $2,5 00 ,-( 1900
5
g
J-J2.066,000 Jan 11931
000 ($1,000) gold s f . . c * . t f lin t . at N ew Y ork T rust C o .. N . Y .. trustee.
8har & New Castle 1st m tge
1901
5
g
J-J275,000 July 11931
$500,000 gold ($1,000) s N Interest at N ew Y ork Trust C o ., N ew Y ork.
guar, prin & in t______ c * .t f l trustee.
M ahoning Valley S E first f 1903
5 J-J
94,000 July 1 1923
m ortgage------------------------- t f l l n t . at Lawrence Savings St Trust C o ., New
I Castle, P a ., trustee.
Youngst Park & Falls St R y f 1898
5
J-J
194,000 Jan 1 1919
first m ortgage__________ t f l l n t . at U nion T rust C o ., Pittsburgh, trustee.
Poland St R y 1st M $200,000/ 1913
5 J-D
170,000 June 1 1933
($1,000) guar p & I____ n tf [U nion Trust C o . o f P ittsburgh, trustee.
Stock.— C om m on stock is held In voting trust. T he pref. stock o f the
M ah. & Shen. R y . & L t. C o . has full voting power. Free o f Penn, and
Ohio State tax. Callable as a whole at 110 & dlvs. V . 103, p . 2341.
Bonds.— O f the $20,000,000 M ah. & Shen. R y . & L t. 1st and con s.
5s, $5,259,000 are reserved to retire underlying liens and remaining $4,641.
000 for 8 0% o f cost o f ad d ’ns, im pts., & c., under conservative restrictions.
D en om .. c* . $1,000 and $500; r*. $1,000 and higher. Callable as whole,
but not In part, at 101 and int. on 60 days’ notice. Tax-exem pt In P a.
V. 101, p . 1713. O f the Penn. Sc M a h . V al. R y . bonds, $750,000 are re
served to retire prior liens; a sinking fund o f $50,000 per annum began
N o v . 30 1911. Bonds purchased for sinking fund are canceled, $243,000
have been purchased. The Youngstown-Sharon 1st m tge. bonds can be
called at 115 and Int. on any Interest date; $374,000 have been acquired
b y sink. fund. For lien covered b y these bonds, see “ Street R ailw ay”
Section o f June 24 1905. T he Sharon & New Castle bonds are subject to
call at 115 and int. on any Int. date; $75,000 have boon acquired by sinking
fund. F or lion o f these bonds see “ Street R ailw ay” Section o f June 24 1905.
T he Poland St. R y . bonds are guar., prin. and in t., b y the R ep . R y . Sc L t.
C o. Redeem able at 100 and Int. on 30 days’ notice.
T ho 2-year notes are convertible at option o f holder into M ahoning Sc
Shenango R y . & Lt. C o . 7 % cum . pref. stock, par for par, between July 15
and D ec. 15 1919, incl. Are guar. prin. and Int. b y endorsement o f M a
honing St Shenango R y . Sc L t. C o . and are secured b y deposit o f M a h . Sc
Shen. R y. & L t. C o . 7 % cum . pref. stock equal In par value to the amount
o f notas outstanding. A s notes are called an equal am ount o f pref. stock
will be released. N otes are also secured b y a deposit o f all the outstanding
com . stock o f tho M ah. & S. R y . & L. C o . T he remaining notes m ay be
Issued upon deposit o f a d d ’l pref. stock in equal am ount. A d d ’l pref. stock,
however, m ay bo issued to the public to an am ount equal to the unissued
notes in lieu o f the Issuance o f notas. The notes are redeem able, all ori □
part (In lots o f no less than $100,000). on 30 days’ notice at 100M and int.
Pennsylvania 4-mlll tax refunded. V . 106, p. 297.
Dividends.— On pref. 14$ % quar. has been paid since organization.
DIvs. on com . o f 1 % , begun Jan. 1917, paid reg. since to and incl. A p r. 1918
R E P O R T .— Consolidated Income account o f subsidiary cos. (inter-co.
items eliminated) (1917 report in V . 106, p. 1570):
Calendar
Gross
N et (.after
Other
Interest, Pref.D iv. Balance.
Year—
Earnings.
Taxes). Incom e.
A c.
( 6 % ). fo r Com.
1917 ...... -$4,889,916 $1,548,732 $67,206 $1,004,427 $311,484 $300,027
1916 ......... 3,987,616 1,660,210 20,966
827,570 311,484 542,122
Latest Earnings.— 12 m os. end. M a r. 31:
1918 ------- $5,202,284 $1,584,791 $94,309 $1,055,564 $311,484 $312,051
1917 ......... 4,143.016 1,628,415 18,886
868,735 311,484 467.082
Passengers carried in 1917, 59,923,o05, against 53,448,848 in 1916.
P R O P E R T Y , & c.— Supplies, through its subsidiaries, electric light,
powor and gas to Youngstow n and other com m unities In tho M ahoning and
Shenango R iver valleys, In Eastern Ohio and Western Pennsylvania, m idwav between Pittsburgh and Cleveland, and owns 174.72 miles o f urban
and interurban railway lines in the same locality, o f which about 40 miles
on private right o f w ay. Has contracts for lighting with numerous cities.
Throo elec, light and power plants, present capacity 59,250 k . w . also
artificial gas plant In Y oungstow n; 3 gas holders.
E X E C U T IV E C O M M IT T E E .— Anson W . Burchard, F . L . D am e, R . P .
Stevens, R obert Lindsey and Harrison W illiam s.
O F F IC E R S .— P res., Harrison W illiams; V .-P ., R . P . Stevens; V .-P . &
Gen. Counsel, W m . M . Colem an; Sec. & Treas., E . W . Freeman.— V . 105.
p . 820, 998, 1708, 1999; V . 106, p. 297, 397, 822, 1037, 1570.
Y O U N G S T O W N & SU B U R B A N R Y . C O.
In M a y 1917 control was acquired b y M unicipal Service C o ., a M aine
holding corporation. (V . 104, p. 1387, 1592, 1900, 2013.)
O R G A N IZ A T IO N .— Incorp. in Ohio.Sept. 1916 and acquired the prop
erty o f the Youngstown & Southern R y ., sold at foreclosure Sept. 2 19 16 .
(V . 103, p . 940, 1033).
STOCK A N D BONDS—
D a te .
I n terest.
O u ts ta n d in g .
M a t u r it y .
$350,000 ................
C om m on $750,000.................. ........ .............................
Preferred (cum) $ 7 5 0 ,0 0 0 ................
6%
470,000 .....................
1st M $1,500,000......... - . c t f 1916
5 M -S
700.000 Sept 131938
$30,000 pref. stock In treasury in addition to am ount reported outstand’g.
B o n d s . — $800,000 are reserved for extensions and additions under stringent
safeguards. R ed. at 102H and Int. at any tim e. Sink, fund to retire
$5,000 at 1024$ and int. annually, beginning Sept. 1 1919. Guaranty
Trust C o ., N . Y ., trustee.
E A R N IN G S .— For 12 m os. end. D ec. 31 1917, gross, $217,317; net (after
taxes), $70,247; fixed charges, $51,298; surplus, S18.949.
R O A D .— Operates interurban road between Youngstow n and Leetonia,
about 20 miles. 9 passenger, 12 freight, express and 1 work car; 1 electric
locom otive and 1 snow plow.
O F F IC E R S .— Pres., D avid T o d , Youngstown; V .-P ., J. H . M cClure:
Sec., John E. Zimmerman T reas., J. W . Swain Jr.; Oper. M grs., D a y Sc
Zim mermann.— V . 104, p. 1387. 1592, 1900. 2013.
V ol. 106.]
ELECTRIC RAILWAYS
132
E L E C T R IC R A IL W A Y S I N I S L A N D P O S S E S S IO N S
AND
F O R E IG N C O U N T R I E S
HALIFAX, N. S.
N O V A S C O T IA T R A M W A Y S & P O W E R C O .
O R G A N IZ A T IO N .— Incorp. in N ova Scotia in 1914 and in Jan. 1917
acquired (a) the properties and franchises o f the Halifax E lectric Tram way
C o ., L td ., com prising all street railways, com m ercial electric light and power
and gas properties in Halifax; and (b) water power rights, lands, & c., on
the Gasperoaux R iver, 55 miles from Halifax, capable o f a hydro-electric
developm ent o f approxim ately 12,000 h. p.
Franchises, in opinion o f counsel, are perpetual.
T he stock was offered in Jan. 1917 in blocks o f 10 shares o f prof, and 3
■hares com . stock for S I,000. V . 104, p . 164.
In acting upon the c o .’s application for auth. to Increase its capital stock
b y $4,000,000 and to issue $975,000 in bonds, the P. U . C om m , in D ec. 1917
auth. items involving a capital expenditure o f $845,641, and is holding over
for further consideration items aggregating $569,686. For tho present the
Board refuses to increase the capital any further.
Fares.— An increase o f 50% in faros in Halifax was recomm ended b y tho
local authorities in Jan. 1918. V . 106, p. 396.
STOCK A N D RON DS—
Date.
Interest. Outstanding.
M aturity.
..............
$2,510,000 .....................
Com stock $3,500,000 ($100)............
P f 6 % cum $2,500,000 ($100)............
J-J 2
2,076,000 - .......... ........
1st M $10,000,000 gold $ or £1 1916
5 g J -D
2,250,000 D ec 1 1946
($1,000 and $ 5 0 0 ) - - - c * - t f l i n t , in N ew Y ork , M ontreal and London.
Preferred Stock.— D ivs. payable without deduction for any taxes imposed
by any taxing authority in Canada.
Bonds.— Remaining bonds m ay bo issued up to 75% o f cost o f acquisitions
or im pr’ ts (except that no bonds m ay be issued against the cost o f the new
gas plant) and only when not earnings aro double tho 1st M . interest
charges, including bonds to bo issued. Annual sinking or im pt. fund o f
1 % o f bonds out began D ec. 1917, for add'ns or lm pts., or for redemption
o f bonds. Callable, all or part, for sinking fund, at 105 and int. on any
lnt. date on 60 days’ notice. Int. payable without deduction for Canadian
taxes or U. S. Federal taxes. Fixed exchange rate, $4 86 2-3 per £ sterling.
Trustees, Union Trust C o. o f N . Y ., and R oyal Trust C o ., M ontreal.
Earnings.— O f Halifax Elec. T ram . C o. (and consolidated cos. beginning
with 1917) for cal. years:
1909.
1912.
1914.
1915.
1916. 1917.
Gross ea rn in g s.. $447,579 $539,953 $645,241 $718,840 $759,7265859,66$
N et, after taxes.
207,973 253,393 269,818 331.753
311,882 131,506
9,534,162 passengers carried in 1917, against 8,935,380 in 1916.
P R O P E R T IE S .— 21.2 miles o f street railway, single track equivalent.
Standard gauge;
60-lb. T and 80-lb. girdor rails. 62 passenger cars, 5
rweopers, 5 misc. cars, & c.; power house with 6.200 h. p. capacity; lighting
and power distribution system ; gas plant, with about 45.7 m . o f pipe line.
O F F IC E R S .— Pres.. E . A . R obert, M ontreal: V .-P rcs.. O. E. Smith,
Halifax; M anaging D irector & S ec.-Troas., II. R . M allison, Halifax;
Com p. & Asst. Treas., J. R . B lackett.— V. 106, p . 86, 396.
HAMILTON, ONTARIO.
D O M IN IO N P O W E R & T R A N S M IS S IO N C OO R G A N IZ A T IO N .— Incorp. in Canada on Jan. 11 1907. Controls
and operates the following properties:
Hamilton Cataract P ., L t. & T r.C o, Ham . E lec. L t. & Power C o.
Dundas E lectric C o .,
H amilton Radial Elec. R y .,
Lincoln Elec. L t. & Powor C o ..
Brantford & Hamilton Elec. R y .,
Wostorn Counties Electric C o . , .
Hamilton Street R y .,
W elland Electric C o.,
Hamilton & Dundas St. R y .,
Hamilton Term inal C o.
H am. Grim sby & Beamsvillo R y .,
Interest. Outstanding.
Maturity
ST O C K A N D B O N D S—
Date.
$7,714,500 M a r '18, 1%
Ordinary $9,900,000 ($100)................
-----------------3
J-J
3,681,100 Jan ‘'18 , 3 $
Preference $10,000,000 ( $ 1 0 0 ) -----___
___________
___
A-O
5.152,000
See text
1st mortgage $25,000,000 ( 1907
($1,000) gold _________c * t f j Harris T r. & Savs. B k. o f C hicago, Trustee.
(N at. Trust C o ., L td ., T oron to, C an., trust.
Ham Cat P L & T r C o, L td .f 1903
5 A-O
1,939.000 April 1 1943
1st & ref M $5,000,000 gold Int. in Hamilton & N . Y . N at. Trust C o ..
($ 1 ,0 0 0 )____________ c * n tf
L td ., T oron to, trustee. Callable at 110 &
l int. beginning April 1 1923.
Ham Elec Lt & C at Pow 1st ( 1899
5 g A-O
873.000 Oct 1 1929
mortgage gold ($1,000) n o t iln t . payable in N . Y . or Hamilton National
caliablo ....... .................c*tf\ Trust C o ., T oron to, Trustee.
Hamilton Streot R y 1st m tg o. 1898 434 J-D
400,000 D ec 22 1928
H am Grims & B El R y 1st M ._ 1895 5 M -N
150.000
1925
Bonds.— O f tho $25,000,000 mortgage, $10,000,000 m ay bo issuod, with
the approval o f the trustee, for not exceeding $0% o f cash cost o f extensions
and additions, and tho remainder for not exceeding 7 5 % . Since April 1
1917 the entire outstanding Issue, but not any part thereof, can bo called
at 107Vi and Interest on any coupon date on 60 d ays’ notice. Tho bonds
mature $54,000 annually from April l 1914 to 1921 and $108,000 annually
from April l 1922 to 1931, and the remaining $3,910,000 aro duo April '
1932. They are socured by all the property ownod through doposlt oi
stock and bonds with trustee, & c.
Dividends.— On tho preference stock 6 % was paid in 1907: in 1908, 3 %
was paid. In D ec. 1908 it was decided to om it d lv. on both clasoss o f pref.
stock; see V . 87, p. 1478. N one to Jan. 1911, whon 3 % was paid: July,
3)4 % ; also paid In D ec. 1911 d iv. duo Jan. 1909, 3 % . In 1912. Jan., 3)4 % :
July, 3 )4 % : A u g., 3 % (duo Juno 1909). In 1913, Jan., 3 )4 % . A div.
o f 6 ) 4 % w a s paid Feb. 15 1913 In full o f arroars; July, 3 ) 4 % .
In 1914
and since. 7 % p e r a n n . initial d lv. on com .— 2 % — paid June 1916; D ec..
2 % . In Sept. 1917 paid quarterly d iv. o f 1% and samo rato has been paid
quarterly since.
E A R N IN G S .— Incl. subsidiary cos.:
Calendar
Gross
N et
M aint. A Bond
Divs.
Balance,
Year—
Earnings. Earnings.
Ren'ls. I n t..A c . Paid.
Surplus.
1917________ $2,967,273 $1,233,514 $111,709 $398,749 $535,153 $187,903
1916............... 2,693,212 1,233,611
157,689 394,769
534,351
146,802
R O A D .— Controls 33 miles o f single track In Hamilton and 86 milos of
lnterurban linos, and also supplies light and power to Hamilton, Brantford,
St. Catharines, W elland and Intervening territory. Llkowiso owns a
56,600 h. p. hydro-electric station.
O F F IC E R S .— Pres., J. R . M ood io; V .-P ., Cyrus A . BIrgo; Sec. & M a n ’g
D ir.. W m . O. Hawkins; Gen. M g r., Edward P. Colem an; Treas.. James
D ixon.— V . 103. p. 57; V . 104, p. 857; V . 105, p. 909; V . 106, p. 929.
HAVANA, CUBA.
H A V A N A E L E C T R IC R A IL W A Y . L IQ H T & P O W E R C O .—
O R G A N IZ A T IO N .— Incorp. in Now Jersoy on M ar. 26 1912, absorbing
the Compania do Gas y Eloctricidad do la Habana (Gas & Electric C o. o f
H avana), to acquire and hold the stocks o f tho Havana Elec. R y . por plan
In V . 94, p. 767. On M a y 15 1913 a plan for the merger o f the properties
was approved b y tho stockholders o f the Havana Elec. R y ., L. & P . C o.
T he Havana Electric R y . stockholders approved the plan on M a y 27 1913
and on June 18 1913 articles o f consolidation wore riled. V. 96, p. 1840.
T o date 49,989 (out o f 50,000) shares pref. and 74,885 (out o f 75,000)
■hares com m on stock o f the Havana Elec. R v . have been deposited for ex
change o f securities o f new com pany. The Havana Elec. R y . owned entire
$100,000 stock o f the Insular R y . C o. Railway franchise runs until 1958.
C om pany also has right to carry freight over parts o f the system . Gas and
electric franchises perpetual.
_
.
Stock Increase.— Stockholders voted on M a y 21 1917 to Increase the pref.
stock from $15,000,000 to $21,000,000 to provide for tho retirement on
June 15 1917, at par and Int., o f the $6,000,000 6 % general consolidated
obligations o f the former Com pania de Gas y E lectricidad de la Habana,
which were assumed by the Havana E lec. R y ., L t. & P. C o ., and constituted
a lien upon its property prior to the lien o f its general M . bonds. C om . and
pref. stockholders o f record M a y 28 1917 were offered the right to subscribe
for new stock pro rata at par and d lv . V . 104, p . 2118.
STOCK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
C o m m o n $15,000,000 ($100).................
M -N
$15,000,000 M a y ’ 18,3%
P f 6 % .cum $21,000,000 ( $ 1 0 0 ) -----M -N
21,000,000 M a y ’ 18,3%
H av Elec R y consol M $10,- f 1902 5 g F-A
8.983,111 Feb 1 1952
000,000 g ($1,000) s f.c*&r\CentraI Trust C o ., N ew York, Trustee.
Hav El R y L & P gen m tgef 1914 5 g M -S
5,845.000 Sept 1 1954
$25,000,000 ($1,000 & $ 5 ,-{ Guaranty Trust C o .. N . Y ., Trustee.
000) g o ld .................... _c*& rl
____
_ „
Gas A Electric Co. issues—
Gold m ortgago________________ 1904
6%
3,998,000 Juno 1 1954
“ English bonds” (£ 1 5 0 ,0 0 0 ).. 1906
5%
609,967
1943
Stock.— Pref. stock Is red. at $115 per share and accrued d ivs. B oth
com . and pref. are listed on N . Y . Stock E xch. V . 94, p . 1632. $51,594
com m on and $21,523 pref. stock included In amounts roported outstand
ing are in treasury.
.
Bonds.— O f the Havana E lectric C o . consolidated bonds roported out
standing, $418,430 are In treasury. $1,016,000 have been canceled. A
sinking fund com m enced Jan. 1 1906 on tho outstanding consols. Bonds
m ay be called for sinking fund at 105 and Interest, and ontiro Issue can be
redeemed at 105 and lnt. on any int. day upon 6 m os.' notice. See V . 74,
p. 1251. Int. payable at com p a n y’s office . T h ey are listed on N . Y . Stock
Exchange. V . 86, p . 918.
„„„
T he gen. m tge. bonds aro red. on 30 days notice at 105. Sink, fund o f
1 )4 % on outstanding bonds begins In 1920. Interest payable In N . Y .
w ithout deduction o f any tax, except Fedoral Income tax. O f the $25,000,
000 auth., $10,450,000 are reserved to retiro underlying liens, $52,000 are
deposited with G o v t, o f C uba, $763,000 aro in treasury and tho remainder
for additions and Im provem ents, undor cortain restrictions. Listed on
N . Y . Stock Exchango. V . 102, p. 2254; V. 106, p. 715.
Dividends.— Dividends on prer. stock wore begun in N o v . 1912. An
initial dividend on the com m on stock, 2 M % . waspakl in N ov. 1912. In
1913, 5 )4 % ; in 1914, 5 % ; in 1915, 5 )4 % ; in 1916, 6 % ; in 1917, 6 % ; in
1918.
M ay, 3% .
R E P O R T .— F or calendar years:
•
_
_ ,
Cal.
Gross
Net (after Other
Fixed
Pf. Div. Com.
Balance.
Year— Earnings. Taxes). Income. Charges.
(6 % ). Divs.
Surplus.
!
$
s
$
$
s
s
s
1 9 1 7 .-.6 ,9 8 9 ,5 9 9 3,604,129 149,755 1,138,623 1,079,349 «896,905 639,007
1916 _6,017,70S 3,573,823 144,561 1,297,093
899,991 «896,910 624,390
66^U8,450 passongors carried in 1917, against 59,698,791 in 1916.
L a te st E a r n i n g s . — For 3 m onths ending M ar. 31;
Surplus.
3 M o s . G ross.
N e t ( a ft. T a x . ) . O th er I n c .
C h a rges.
$684,950
1918_____$1,904,191
$1,036,367
$35,557
$386,974
467,297
1917 ......... 1,597,210 J
919,008
35,751
487,462
R O A D , & c.— Railway' system , 92.52 milos o f single track. Also opor.
atos a stago lino with 146 stagos. Has 410 passenger cars, 11 freight lo co
motives, 8 other m otor cars, 33 trail cars and 64 sido dum p cars. 174.30
miles gas mains. T ho consolidated power plant (capacity 37,500 k. w.)
was com pleted in Juno 1916.
O F F IC E R S .— 'Pros. & Gon. M gr., Frank Stoinhart; V .-P s., D avid T .
Davis, Emotorio Zorilla, Antonio San M iguel; Soc. & T roas., II. Kraomor.
N . Y. offico, 55 Liberty S t.— V. 101, p. 2010, 2118, 2452; V. 106, p. 601,
822, 2011.
HONOLULU, HAWAII.
H O N O L U L U R A P ID T R A N S IT & L A N D C O .— Trolley.
O R G A N IZ A T IO N .— Incorporated in Hawaii A ug. 30 1898. Franchise
runs for 30 years from 1901. and pormits the carrying o f freight and mall
as well as passengers.
In 1903 purchased tho Hawaiian Tram w ays C o . (having outstanding
£65,000 stock and £30,000 6 % debentures, and com prising 12)4 miles o f
track); paym ent being mado by tho issue o f $15O,O0O 6 % bonds o f the
Rapid Transit C o .; 910 shares o f preferred stock and $59,150 in cash.
m 1909 the Pearl Harbor T ra c. C o . was incorporated with $100,000
stock, 9 9.3 % owned b y Honolulu R apid T ransit, for tho purpose o f ex
tending tho Rapid Trans. C o .’s line to N aval Station at Pearl Harbor.
On July 21 1916 the Supremo C ourt o f H awaii sustained tho decision o f
Judge Stuart in tho C ircuit C ourt at Honolulu in 1915 denying tho injunc
tion asked for by the T erritory o f Hawaii to provont the co . from increasing
its capital stock from $1,207,500 to $1,600,000.
Stock was increased from $1,207,500 to $1,600,000 in A ug. 1916. V .
’
103, p. 938. In 1917 it was incroasod to $2,000,000.
All the $528,000 1st M . 6 % bonds duo M a y l 1927 wore callod for p ay
ment M a y 1 1917. T o p rovid e thorofor and for oxts. and lm pts. tho stock
holders voted to issue $400,000 additional stock and to creato a 5 %
bond issue to be availed o f as funds aro roquired.
S T O C K ’— A uthorized and outstanding (par $100), $2,000,000. D iv i
dends payable Q .-M . 31.
Dividends m ay not exceed 8 % on par value o f stock Issued. Excess o f
Income (after providing for sinking fund to retiro bonds and capital stock)
must be divided equally between G o v t, o f Hawaii and stockholders. All
pref. stock was converted into com . in 1913.
Dividends.— On com m on D ec. 31 1903, 1 % ; in 1904. 4 % : in 1905, 4 % ; in
1906, 3 ) 4 % ; In 1907. 3 % : in 1908, 4 % ; in 1909, 4 % ; in 1910. 4 % ; in 1911
and 1912. 6 % ; in 1913, and sinco, 8 % per annum.
R E P O R T .— For years ending D ec. 31:
Calendar
Gross
N et
In t., Taxes, Dividends
Balance,
Year.
Earnings.
Earnings.
D ep rcn .,A c.
( 8 % ).
Surplus.
1917 ................ $726,603
$332,636
$227,025
$152,000 d o f.$46,388
1916................... 669,982
314,546
117,933
112,300
84,313
1915................... 599.564
227,153
103,364
96.600
27,189
Passengers carried in 1917, 14,378,092. against 13,213,700 in 1916.
Latest Earnings.— For 3 m onths ending M ar. 31:
3 M o s.—
Gross.
Net.
Other Inc.
Charges.
Bal.,Sur.
1918 ................... $170,791
$72,000
$6,921
$31,927
$46,994
1 9 1 7 - - . ................ 173,992
91,303
4,680
17,123
78,859
R O A D .— Operates 26 miles o f track.
Gauge, 4 ft .; 70 and 85-lb. rails;
54 vestlbuled m otor cars; capacity o f generators, 1,900 k. w.
O F F IC E R S .— Pres., L . T . P ock; 1st V .-P ., L . A . Thurston; 2d V .-P .,
G . P. Castle; Sec., A . L. Castlo; T roas., C . II. Athorton; M g r., II. S. John
son.— V. 102, p. 1350; V. 103, p. 759, 938; V. 104, p. 1387; V. 106, p. 1577.
KINGSTON, JAMAICA.
W E S T IN D IA E L E C T R IC C O .— A trolley road.
O R G A N IZ A T IO N .— Incorporated 1897 in Jam aica. In 1907 took over
the lighting business on a rental basis. Franchise expires Jan. 1 1928.
STO CK A N D BONDS—
Date.
Interest. Outstanding.
M aturity.
Stock $800,000 ($100)...............................................
$800,000 A p r ’ 1 8 .1 )4 %
First
m ortgage
$600,000? 1898
5 g J-J
600,000 Jan 1 1928
($500) g o ld _____________ c* jM o n tre a l Trust & D eposit C o ., Trusteo.
N ot subject to call.
(Interest at Bank o f M on troal, M ontreal.
ELECTRIC RAILWAYS
Ma y , 1918. j
Dividends.— First d iv. on stock— 1 % — p a id A pril 1 1908; 1% was again
paid July 1 and O ct. 1 1908. In 1909, 4 H % ; since, 5 % per annum.
R E P O R T .— For years ending D ec. 31:
Year—
Gross.
N et. Int.&Rents. Taxes.
Dividends.
Surplus.
1917......... $287,211
$128,021 $42,000 $7,909 (5% )$40,000
$38,112
1916............ 286,322
142,257
42,000
7,887 (5 % ) 40,000
52,370
Passengers carried in 1917, 4,825,737, against 4,812,754 in 1916.
R O A D .— Operates 24 miles o f track in and around K ingston, Jam aica.
Gauge, 4 ft. 844 in. 90-lb. girder and 60-lb. T . rails.
O F F IC E R S .— Pres., James Hutchison; V .-P ., G . J. C row dy; S ec., F.
W illiamson; C om p ., E . M . Johnson; Gen. M g r., D . N . Harr.— V . 100,
p . 983; V . 101. p . 284; V . 102, p . 1164; V. 103, p . 58; V . 104, p. 1168.
LONDON, CANADA.
LO N D O N S T R E E T R A IL W A Y C O .— A trolley road. Incorp . under
the laws o f Canada in 1873. Franchise expires 1925, at which tim e, or any
fifth year thereafter, the city has the right to purchase the property (except
Springbank line) on an arbitration basis, b y giving one year’s notice in
advance.
STOCK A N D BON DS—
Date.
Interest. Outstanding. M aturity
Stock $750,000 ( $ 4 0 ) ........................
J -J
„
$637,480
J u ly l7 3 %
First m ortgage $750,000 gold I 1896
5 g M -S
560,000 M a r. 8 1925
($ 1 ,0 0 0 )________________ c*\ T oron to General Trusts C o ., trustee.
Bonds.— The remaining $50,000 can only be issued for 66 2-3% o f actual
cost o f additions and extensions, when net earnings are equal to 10% o f all
bonds out, including those to be Issued; but total debt must not exceed
$20,000 per mile o f single track. V . 78, p. 2384. Interost is payable at the
Canadian Bank o f C om m erce, T oron to. In each o f the 10 years preceding
m aturity 5 % o f bonds shall bo drawn by lot and redeemed at par on 40
d a ys’ notice. $140,000 have been retired. N on o since.
Dividends.— In 1901 8 % was paid; in 1902, 8 % ; 6 % in 1903, 1904, 1905
and 1906. In 1907 dividends om itted on account o f strike. In 1908 to
1915, inclusive, 6% per annum. In 1916, Jan ., 3 % (cash); J uly, 3 % (in
sto ck ). In 1917, Jan., 3 % (cash); July, 3 % (in stock ).
R E P O R T .— Years ending D ec. 31:
Gross.
N et.
Charges.
Divs. (6 % ). Surplus.
1 9 1 7 . . . ............. $417,862
$86,768
$39 ,291
a $ 17 ,18 0
$30,297
1916.......... ........... 426,315
133,914
40,303
633,860
59,750
a All paid in stock, b Including div. o f 3 % paid in stock July 1916.
R O A D .— Operates 36.10 m iles o f track. Standard gauge. 56, 73, 75
and 80-lb. T and girder rail. 58 m otor cars, 5 trailers and 6 m isc. cars. Has
con tra ct for power with the Ontario H ydro-E lectric Pow er C om m ission.
Passengers carried in 1917, 11,374,396, against 11,518,428 in 1916.
O F F IC E R S .— Pres., C has. Currie, A kron, O .; V .-P ., T . II. Smallman.
L on don , O n t.; Sec. & T reas., L . T a it, L ondon, O n t.; G en. M g r., O . B .
K ing, L ondon, O n t — V. 102, p. 886; V. 104, p. 764, 1489; V . 106, p . 607.
L O N D O N & L A K E E R I E R A I L W A Y & T R A N S P O R T A T IO N C O .
O R G A N IZ A T IO N .— Incorporated in Canada In 1909 as successor to the
Southwestern Traction C o ., sold on O ct. 20 1909. V . 89, p. 1281.
The bondholders on Sept. 18 1917 voted to notify the several municipali
ties served b y tho road that it is proposed to sell the property in bulk or
parcels and discontinue operations unless municipal aid shall bo granted to
enablo tho electrification o f the lino. In April 1917 tho com pany offered to
Bell that portion o f its line between St. Thom as and P ort Stanley, 8 miles,
together with 4 cars, for $168,000, severe com petition from the London &
P ort Stanley R y ., a municipal line, being given as the reason. T ho com
pany holds that, operated as a freight and passenger line in connection with
the city ’s lino, this portion o f tho road would pay.
On M ar. 20 1918 tho directors concluded to offer tho c o .’s property to
tho C ity o f London for about $420,000, payable, it Is stated, In city bonds.
V . 106, p. 1344.
STOCK A N D BON DS—
Date.
Interest. Outstanding. M aturity.
Stock $2,000,000 ($100).................. ..............— $2,000,000 .....................
1st M $840,000 ($500). N o t ! 1914
5 J-D
840,000 June 1 1944
subjoct to call------------------- 1 Fidelity Trust C o ., L ondon , O n t., trustee.
Bonds.— Interest Is payable at head office o f com pany.
R O A D .— Operates from London to P ort Stanley via St. T hom as, 28 miles
o f which 14 miles on private right o f way.
O F F IC E R S .— Pres., George B . W oods; V .-P ., T . H . Purdom ; S ec.,
Treas. & Gen. M g r., W . N . W arburton. O ffice, L ondon , C anada.— V . 99.
p. 342, 1366; V. 100, p . 308; V . 105, p. 290, 1209; V. 106, p . 1344.
MANILA, P. I.
M A N IL A E L E C T R I C R A I L R O A D & L I G H T I N Q C O R P O R A T I O N .
O R G A N IZ A T IO N .— Incorporated In C onnecticut on June 26 1903, and
owns stocks and bonds o f the M anila E lec. R R . & Light C o ., having a 50year franchise from M arch 24 1903, practically the entire stock o f the Union
T ruck C o. and o f the Com pania de los Transvias de Fihpinas, and over
98% o f tho stock o f ‘ E lectriclsta,’ ’ a Spanish com pany having a 50-year
franchise for eloctric lighting and entire capital stock o f M anila Suburban
R ys. C o. Besides doing the street railway businoss, supplies light and
power for private, m unicipal and Governm ent use. M unicipality m ay a c
quire property after 25 years on a valuation fixed b y not earnings, the Su
premo C ourt o f the Islands being referee. Stock and bonds are listed on the
N ow York and London Stock Exchanges.
On D ec. 6 1909 increased authorized stock from $6,000,000 to $8,000,000:
new stock to bo 6 % cum . pref. V . 90, p . 372.
STOCK A N D BON DS—
Date.
Interest. Outstanding. Maturity.
Stock com $6,000,000 ( $ 1 0 0 ) . . ---------------------$5,000,000 M a r'18 ,l> 4
P ref $2,000,000 6% cu m ....... .......................................
N one
.....................
First Hen and coll tr $ 5 ,0 0 0 ,-/ 1903
5 g M -S
4,593,000 M a r. 1 1953
000 gold ($1,000)..............c*\Int. at E quitable Trust C o ., N . Y ., trustee.
Bonds.— A sinking fund o f 44 % o f bonds outstanding began M a r. 1 1908
and ran until 1917; now 1% o f bonds outstanding. The fund Is to be
invested in the bonds at not m ore than 105 and interest, at which price they
are subject to call for the purpose. Are redeemable as a whole at 105 and
interest on or after M ar. 1 192b. V . 82, p. 218. Bonds are listed on N . Y .
Stock Exchange. $404,000 are In hands o f trustee for sin king fun d.
Dividends.— In 1906 and 1 9 0 7 ,3 % ; In 1908 to 1910 in c l.,4 % In 1911.
6>i % ; i « 1912, 1913 and 1914, 7 % ; since, 6 % per annum.
R E P O R T .— For calendar years:
Gross.
N et (aft.T ax.) Int.& S .F .
Dividends.
Surplus.
1917____$1,795,785
*878,248
*332,658 (6% )$300,000
$245,590
1916____ 1.594.079
758.655
(°% )3 0 0 ,0 0 0
149,838
1915____ 1,494,788
731,829
306,475
(6)300,000
125,354
From tho surplus as above thoro was deducted $108,000 in 1917 and
$80,000 in 1916 for tho replacement and renewal fund, leaving $137,590
in 1917, against $69,838 in 1916.
R O A D .— Operates 45 miles o f track (including M anila Suburban R ys
C o .) in tho city and suburbs. 70-lb. I and 92-lb. girder rails. Owns 54
singlo and 77 doublo-truck passenger cars and 14 servico cars.
O F F IC E R S .— Pres., Charles M . Swift; VIco-Pros’ts, Joseph K . Choato,
It. B. M archant and J. II. Pardoo, N ow Y ork; Sec. & Treas., T . W . M o f
fat. Operated under management o f J. G . W hite M g t. C orp ., N ow Y ork.
— V . 101, p. 123; V. 103. p . 406, 491; V . 105, p . 813; V . 106, p. 9.24
(1) M a n ila S u b u rb a n R a ilw a y s C o.
O R G A N IZ A T IO N .— Incorporated in C onnecticut. Franchises run for
47 years from Jan. 30 1906. Does both passenger and freight business.
Entire ou tsta n d in? stock _____ ____ _____
g_____ ($530,000) Is owned by the M anila E lec.____ . &
. _________________ R R
‘
L tg. C o rp .. which guarantees the bonds, prln. & int. See V. 84, p. 220.
D ec. 1909 increased authorized stock from $500,000 to $1,000,000. V. 90,
p . 372; V . 98, p . 1993.
STOCK A N D BON DS—
Date.
Interest. Outstanding. Maturity.
S tock $1,000,000_____________ ______
__________
See text
___ First m ortgage $2,500,000/ 1906
5 g M -S
$537,000 Sept. 1 1946
gold ($1.000)----------------- c*t N ew Y ork Trust C o ., trustee.
Bonds.— Are guar., p . & I., b y tho Manila E lec. R R . & L tg. C orp . Are
■ubject to call aftor Sept. 1 1928 and to purchase for einklng fund since
133
Sept. 1 1911 at not to exceed 105 and in t., at which price bonds can b e
drawn by lot. See V . 80. p. 220. $29,000 are held in sinning fund an*
$84,000 are in treasury, not inch in outstanding am ount as above.
R O A D .— Operates 7 miles o f track from M anila to Fort W illiam M cK in
ley and Pasig.— V . 84. p. 220; V . 95. p. 1542.
MONTREAL, CANADA.
M O N T R E A L T R A M W A Y S & P O W E R C O — A holding com pany.
O R G A N IZ A T IO N .— Incorp. in L ondon , E ngland, in 1908, and con trol!
the following:
M ontreal Tram ways C o .,
M ontreal Public Service C orp .,
Canadian Light & Power C o .,
M ontreal H ydro-E lec. C o ., L td.
M ontreal Tram ways C o. and Can. L t. & Power C o . stockholders received
1 >4 shares o f M o n t. T ram . & Power C o. stock for each share o f their stock.
V . 94, p. 417, 207.
In M arch 1917 issued $5,350,000 2-year 6 % secured gold notes to refund
in part the $7,000,000 notes due A pr. 1 1917. V . 104, p . 1264.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
_______
$17,560,930 -------- --------Stock $20,002.000__________________
Secured
notes
$5,850,000/ 1917
6 g A -0
$5,350,000 Apr 1 1919
gold ($ 1,0 00 ).................. -c* \ In t. in N . Y ., Guaranty T r. C o ., Trustee.
N otes.— T he notes are secured b y $1,600,000 com m on and $6,000,000
debenture stock o f the M ontreal Tram w ays C o . and 5,333 shares o f new
com . stock o f the M ontreal T ram w ays C o ., upon which 10% has been paid;
remaining $500,000 notes are reserved for paym ent o f balance due on said
shares. R ed . at 10044 and int. on any int. date on 30 da ys’ notice. V . 104,
p . 1264.— V . 100. p. 734, 812, 1168; V . 104, p. 1264.
(1) M on trea l T ra m w a ys C o.
O R G A N IZ A T IO N .— Chartered in 1911 and acquired by merger tht
M ontreal Street R y ., M ontreal Park & island R y . and M ontreal Terminal
C o . (V . 93, p. 871, 1324), tho last tw o companies being subsidiaries to the
M ontreal St. R y . V . 93, p. 1022. 1106. Owns and controls entire street
railway system in M ontreal and Island o f M on treal, except abou t a mile «*f
interurban line entering the city .
Netv Franchise.— In Jan. 1918 representatives o f the co. and the city
signed a now franchise agreement, running for 35 years, which provides
(a) for tho creation o f a permanent Tram ways Comm ission o f three persons
with com plete powers over the service, fares, finances, exts. and mainte
nance; (6) fixes the valuation o f the existing system at $36,286,295 for the
physical property, plus an unnamed amount to be specified b y the Com
mission as “ working cap ita l,” (c) practically guarantees that the com pany
shall bo allowed at all times to make a profit o f 6 % on the total investment
thus arrived at and on such new capital as m ay from time to time be put in;
(d) allows tho com pany a further remuneration o f y% o f 1 % in each year in
which it does not exceed by m ore than 244% the estimated operation charges
allowed b y the Com m . In effect, tho com pany can calculate upon 64*%
on its total investment as a guaranteed minimum earning power so long aa
it is efficiently administered. The com pany can also look forward to a
share o f all surplus profits arising after the annual paym ent to the city o f
$500,000 and the upkeep o f certain maintenance and guarantee funds,
neither o f which funds should be at all burdensome. T he surplus after
these charges is to be divided, 2 0 % to tho com pany, 3 0% to the city treas
ury, and 5 0% to a fund for reduction o f fares, which m ay take place when
tho fund accumulates to 81,000,000, and must take place whenever it
contains $2,500,000. (e) Dividend distribution is limited to 10% , the
present rate. (/) A n appeal from the Com m , lies to the P . U . Comm ,
o f Quebec. F or further details see V . 106, p. 607.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
Maturity.
Stock com m on________________ _____
________ *$4,000,000 M a y '18.244
Debenture stock _____________ ______
5%
16,000,000
See text
1st & ref m tge $ 7 5 , 0 0 0 , 0 0 0 g 1911
5 J-J
16.335,000 July 1 1941
($ 5 0 0 4 c $ 1 ,0 0 0 ) Pay in L on Harris T r. & Sav. B k ., C h ic., Trustee. Nat
T r. C o ., L td ., M ontreal, C o-Trustee.
don p4ci in l > = $ 4 8 6 2 - 3 - C *
Sterling deb M ontreal St R y 1893
4 >4 F -A
681.333 A ug 1 1922
secured by trust deed_____ Interest at Bank o f M ontreal, L ondon , E ng.
M on t St R y deb $1,500,000 g 1902
444 g M -N 1,500,000 M a y 1 1922
($100, $500 and $1,000) -C* Interest at Bank o f M ontreal, M ontreal.
M on t St R y new debentures 1908
444 M -N
2,238,667 M a y 1 1922
£460.000 (£100).................. Int. at Bank o f M ontreal, M ontreal, C an.,
and London, England.
* Including as o f June 30 1917, $605,700 unpaid and subject to call.
Bonds.— O f the 1st & ref. bonds $3,273,000 are reserved to retire under
lying bonds (there being also $1,063,985 in cash deposited in addition for
this purpose). Remaining bonds are for extens. and add'ns at not exceed
ing 75% o f cost under certain restrictions. R od . as entire Issue (but not
any part) at 105 and int. on any int. date. Int. payable in N . Y ., C hic..
M ontreal and L on d on . V . 93, p . 1463. Listed on the N .Y ., (V . 97, p .1 0 2 5 ).
M ontreal and L ondon stock exchanges Under a trust d eed, M ontreal
Street R y . debs, o f 1902 and debs, o f 1908 are o f equal rank. A s o f June 30
1917, $1,146,847 o f the underlying bonds reported outstanding had been
redeemed and canceled.
Dividends.— On deb. stock 5 % per annum since organization. InApril.
1913 an interim d iv. o f 5 % was declared on tho paid-up com m on capital
stock. A quar. d iv. o f 244% was paid A ug. 1913 (V . 96, p . 1840), and
244% quar. since to and incl. M a y 1918.
R E P O R T .— For fiscal year ending June 30 1917 (V . 105, p . 906):
June 30.
Gross
N et
Interest, Contingent Divs.
Balance,
Year—
Earnings. Earnings. Taxes. <ftc. Account.
(1 0% ) Surplus.
1 9 1 7 .......... $7,725,499 $3,123,727 $2,248,373 $350,000 $337,881 $187,473
1916
6,609.765 2.902,712
2,118,405 275,000
323,871 185.43$
1915
6.525,231 2,811,235
2.132,364 275.000
278.880 124,991
From the surplus as above in 1916-17 there was deducted $110,000 for
war tax (estim ated), leaving $77,473.
Passengers carried, year end. June 30 1917, 179,974,549, against 150/>
408,303 in 1915-16.
R O A D .— Operates 260 miles o f track. T ho com p any’s steam power
plant is to bo enlarged from 10.000 h . p. to 60,000 h. p . V . 102, p. 345.
In 1904 contract was made with the M ontreal L igh t, H eat & Power G o.
for a supply o f power.
O F F IC E R S .— Pres., E . A . R obert; V .-P s.. J . W . M cC onnell and F.
H oward W ilson; Sec., Patrick D u bee.— V . 106, p. 607, 715, 1797.
(2) C a n a d ia n L ig h t & P o w e r C o .
O R G A N IZ A T IO N .— Incorp. in Canada on Juno 2 1904. See descrip
tion o f com p any’s developm ents in V . 91, p. 591, and V . 89, p . 848. H a !
the perpetual right to distribute and sell power and light in M ontreal and
sovoral adjacent counties. Distribution system in M ontreal has been taken
over b y the M ontreal Public Service C orp.
STOCK A N D BON DS—
Date.
Interest. Outstanding. Maturity.
.................. $6,000,000 .......................
Stock $7,000,000 ($100).......................
First inortgago $ 6 ,5 0 0 ,0 0 0 1 ____
5 J-J
6,500,000 ___________
($500 and $1,000)_________\Royal Trust C o ., Canada, Trustee.
Bonds.— 1st m tge. bonds are subj. to call all or any at 105 at com pany’!
option. Sink. fd . began July 1 1914. In t. payable in M ontreal or Lond o n .
P R O P E R T Y .— Owns a new and modern hydro-electric plant at S t.
T lm othee, 28 miles from M ontreal; present developm ent about 30.0C0 h . n
Ultimate developm ent, 75,000 h. p .— V . 89, p . 848 ,12 8 3 ; V . 91, p . 691.
(3) M o n tre a l P u b lic S ervice C o r p o r a t io n .
This com pany (form erly the Saraguay E lectric & W ater C o.) has acquired
tho Dom inion L t., H t. & P ow ., the;S t. Paul Electric L t. & P ow . C o. and
the distribution system o f the Can. L t. & P ow . C o . in M ontreal. Controls
an established businoss in various im portant sections o f tho city and pro
vides a market for a large am ount o f the power developed b y the Can.
Light & Power C
o . _________ ___________
NIAGARA FALLS, CANADA.
N IA G A R A S T . C A T H A R . & T O R O N T O R Y .— E lec, and steam ro a d .
O R G A N IZ A T IO N .— Incorporated in Canada in 1899. A consolidation
o f tho Niagara Central R y ., the Niagara Falls Welsey Park & Clifton Tram
way C o. and the P ort Dalhousie St. Catharine's & Thorold Electric Street
R y . Franchise perpetual. Owns and operates Niagara St. Catharine’s
& T oron to N avigation C o .; also transports freight.
Shareholders voted 1910 to make an issue o f 2d m tge. bonds at rate o f
$10,000 per mile to N a t, T r. C o ., L td ., T oron to, trustee. V . 90, p . 54,1296.
134
ELECTRIC RAILWAYS
S T O C K A N D B O N D S—
Date.
Interest.
Outstanding.
Maturity.
Btock $1,000,000.................... .. .............................
$925,000 .................. Railway First mortgage gold 1899
5 g M -N
1,098,000 N ov 1 1929
($1,000) ($1,000 or £205 Int. at Canadian Bank o f Com m erce, T o r
on to, and Bank o f Scotland, London.
9s 8 d )............................... _c*
N ational Trust C o ., L td ., T oron to, Trustee.
Second m ortgage_____________ 1910
_______
N one
___________
N avigation C o First m ort-( 1903
5 g M -N
200,000 N ov 1 1929
gago $250,000 ($1,000 or) Int. at Canadian B k. o f C o m .,T o ro n to & N . Y .
£205 9s 8d) gold _________c* (N ational Trust C o ., L td .. T oron to, Trustee.
Interest also at Bank o f Scotland, L ondon .
Bonds.— O f the Railway bonds $20,000 per mile Is authorized and Issued.
See V . 82, p . 869. The Navigation bonds are guaranteed b y the Railway
p . & 1., by endorsement. Neither Issue Is subject to call.
R O A D .— Owns and operates 60.89 miles o f track. Runs from Port D alhousle on Lake Ontario, passing through St. Catharines, M orritton, Thorold
and Niagara Falls, Ont., to Falls View, Ont. Has an extension o f 18.55 miles
from T horold through Fonthill and W elland to P ort Colborne; also an ex
tension o f 12.21 milos from St. Catharines to Nlagara-on-the-Lake. M ain
line has been replaced with 80-lb. rail. 49 pass, cars, 30 freight cars, 8 elec
tric locom otives, 3 electric snow plows and 19 miscellaneous cars. Also
owns tw o steamers. Permission to build soveral extensions has been
granted by the Dom inion Parliam ent.
E A R N IN G S .— For yoar ending June 30 1914, gross, $553,765: oper.
expa., $404,676: net, $149,089: charges, $114,057; surplus, $35,032. N o
later statement has been furnished us.
O F F IC E R S .— Pres., D . B . H anna, T oron to: V .-P ., J. D . M orton
T oron to: S ec., A . J. M itchell, T oron to; Treas., L . W . M itchell, T oron to,
C an .; A u d ., D . J. M cIn tosh; Gen. M g r ., E . F . Selxas, St. Catharine’s.
— V. 90, p . 54, 1296.
[Vol. 106
Latest Earnings.— F or 3 m os. ending M ar. 31 1918, gross, $248,447: n ot.
$113,944. In 1917, gross, $216,804; net, $100,298
In 1916, gross,
$758,281; net, $373,764.
R O A D .— Oporates from San Juan to Rio Piodras, 9 mllos. olectrlc.
Standard gauge. An extension o f 18 mllos to Caguas, which is bolng oper
ated by steam , metor gauge, was com pleted in 1908.
O F F IC E R S .— Pres., Dr. D . E . T hom son, IC. C .;V .-P .. W . D . R oss,;
Sec., Treas. & Asst. Gen. M g r., F. O. Clarko, San Juan, P orto R ico; Gen.
M g r., O. M . Sewell.— V. 99, p. 467, 895, 1367; V . 100, p. 902; V. 102, p .
1163; V . 104, p. 765; V . 106, p. 1901.
QUEBEC, CANADA.
Q U EBEC R A IL W A Y L IG H T H E A T & P O W E R C O ., L td .
O R G A N IZ A T IO N .— Incorporated In Canada on N o v . 19 1909 as a con
solidation o f the following properties (V . 89, p. 1598):
Quebec R y ., L t. & Power C o .
iQuobec Jacques Oartlor Electric C o.
Quebec Gas C o .
Canadian Electric Light C o.
Frontenac Gas C o.
|Quebec C ounty Railway C o.
Theso companies d o an electric-light and powor, gas and street railway
business In Quebec and surrounding parishes. Has contract with the
Stadacona H ydraulic C o. for supply o f power. V . 94, p. 1449.
Purchase by Government.— T ho D om inion Governm ent has contracted to
purchase (ownership to date back to July 1 1916) tho following lines: (a)
Quebec M on tm oren cy & C harlevoix R y ., extending from St. Paul S t..
Quebec, to St. Joachim , 43.2 miles; (6) Quebec & Saguonay R y ., extending
from its Junction with the Quebec M ontm oroncy & CharlovoLx R y . at St.
Joachim to Nairn Falls, 62.8 miles; (c) Lotblnlero & M ogantic R y ., extend
ing from Lyster to St. Jean des Ohaitlons, about 30 milos. T he purchase
price o f these properties Is to be “ the value thereof as determined by the
OTTAWA, CANADA.
Exchequer C ourt o f Canada; said value to be tho actual cost o f said rail
ways, less subsidies and loss depreciation, but not to excoed $4,349,000,
O T T A W A T R A C T IO N C O .. L T D .— A holding com pany.
exclusive o f outstanding bonded Indebtedness, which Is to bo assumed by
O R G A N IZ A T IO N .— Incorp. O ct. 23 1913, and has acquired $1,733,600 the G overnm ent, but not to exceed In all $2,500,000" (being tho $2,500,000
o f the stock o f the Ottawa Eloctric R y .
Quebec-M ontm orency R y . 1st M . 5s o f 1899, duo 1923). T h e lines are to
be operated by the com pany until actual possession Is takon and tho com
STOCK A N D BON DS—
Date. Interest.
Outstanding.
Maturity
panies must render an accounting to the G o v t, from Juno 30 1916 until
Stock $10,000,000 ($100)..................
Q-J
$5,200,800
Soo text
Dividends.— First d lv .— 1 % — paid July 1 1914: same rate quar. since, the properties are taken over. See V. 102, p. 2255; V. 103, p. 579; V. 104,
p. 560. In 1916 the Canadian House o f C om m ons voted to appropriate
with 1% extra In January, making 5 % per annum.
O F F IC E R S .— Pres., T . Ahearn; V .-P ., Warron Y . Soper; Sec. & Treas., $4,000,000 for the purchase o f the foregoing linos. During 1917 $332,255
was expended on the properties and on Sept. 6 1917 the House roJames D . Fraser; A u d ., H . T . Burpee.— V . 106, p . 612, 1790.
appropriated the remainder, $3,667,745. N o decision fixing tho purchase
(1) O tta w a E le ctric R y .— A trolley road.
price has as yet been handed dow n. V 105, p . 1209.
T h e Quebec R y ., L t ., H t. & Pow . C o. acqulrod the Quebec & Saguenay
O R G A N IZ A T IO N .— Incorporated In 1894. Is a consolidation o f the
R y . C o. in 1911 through purchase o f Its $2,500,000 stock and $3,000,000
Ottawa C ity Passenger R y . and the Ottawa E lectric Street R y.
5 % bonds and In turn Issued Its own bonds o f 1911 and 1912 shown In the
In N ov . 1912 Increased Its auth. stock from $2,000,000 to $4,000,000
table below , to pay for same. V . 92, p. 882, 528. Theso bonds were In
STOCK A N D BONDS—
Date. Interest.
Outstanding.
Maturity.
tended to provide for Quebec-Saguonay lino, extending 5 6 H miles from
Q-J
$1,876,900
See toxt
Btock $4,000,000 ($100)....................
C apo Tourm ente to M urray B ay. In Sept. 1912 construction work on this
First m ortgage $500,000 gold [ 1897
4 g J-J
413,000 July 5 1922 line was stopped because o f non-paym ent by Saguonay C o . o f claims o f
($ 1 ,0 0 0 )-------------------------c* { Interest at com p any’s o flee. Trustee is contractors for construction work (V . 95, p. 1040; V. 96, p. 203). Payments
l T oron to General Trusts Corporation.
were subsequently m ade but work was not resumed. T h e Dom inion G o v t.
Bonds.— Are not subject to call; 10% o t the issue In excess o f $350,000 Is now proceeding with tho construction o f tho road, and up to Jan. 5 1918
must bo retired in each o f the 10 yoars preceding m aturity. $90,000 have had com pleted 17 miles. In M a y 1918 It was stated that 8 0% o f tho lino
had boon com pleted and that tho wholo lino would bo placed in operation
Dividends'— From 1893 to 1905, 8 % per annum; In 1905, 2 % extra; In in tho late summer o f 1918. V. 106, p. 2011.
1906 to 1911, Inclusive, 12% por annum; in 1912, 16>4% ; since, 15% .
On July 7 1917 tho com pany was awarded $275,000 for tho property
E A R N IN G S .— For years end. D ec. 31 (1917 report in V. 106, p . 1790):
known as tho Quebec Gas C o .’s land, which was expropriated by the
Calendar
Gross
N et
Interest, Conting. Dividends Balance,
Federal authorities, according to a decision b y tho Exchequer C ourt.
Year—
Earnings. Earnings. T axes,A c. Account.
(1 5 % ). Surplus.
Coupon Payments Delayed.— Tho intorest duo Juno l 1913 and D oc. 1
1917..............$1,240,627 $535,289 $125,623 $110,000 $281,580 $18,086
1913 was not paid whon duo and In Sept. 1914 it was announced that tha
1916.............. 1.154,912
484,564
106.239
65.000
281,535
31,790 coupons due June 1 1914 wore not paid on timo, tho com pany following tho
Pass, carried in 1917, 27,347,692, against 27,033,778 in 1916.
policy o f paying the coupons at intervals through tho throe months grace
R O A D .— Operates 51 miles o f track In city , and to Hull, R ockllffe, following tho duo date. V. 99, p . 748. Subsequent coupons havo been
Britannla-on-tho-Bay and Governm ent Experimental Farm . Has a park paid within the time limit allow oa.
o f 60 acres at Britannla-on-tho-Bay Standard gauge.
Ralls, 72, 80, 94
Int. due D ec. 1 1914 on the Quoboc-Jacquos Oartlor Elec. 1st refdg. 5a
and 115-lb. T and girder.
was defaulted. A protective com m ittee was form od with W . L . Hallanan,
111 B roadw ay, New York C ity , as Secretary, and bondholders were re
O F F IC E R S .— Same as for Traction C o.— V . 106, p. 612, 1790.
quested to deposit their bonds with tho Bankers Trust C o ., N ew Y ork .
V . 100, p. 403. Interest was subsequently paid. V . 100, p. 559. Sub
sequent coupons have been paid to date.
Fares.— In M ar. 1918 applied to tho C ity Council for auth. to put into
PONCE, PORTO RICO.
effect tho following faros: (a) 21 tickets for $1; (6) 5 worklngm on’s tickets
PON CE E L E C T R IC C O .— Incorporated In N ew Jorsoy In 1902. Owns for 25 cents; (c) 10 school-children’s tickets for 25 conts, and (d ) a 1-cent
the securities o f the Ponco R y . & L t. C o ., which operatos the railway botwee
charge for transfers.
Ponce and the Playa (Port) and does the entire lighting and pow er business
o f Ponce and the Playa. R ailw ay franchise expires In 1961, electric-light
S T O C K A N D B O N D S—
D a te .
In terest.
O u ts ta n d in g .
M a tu r ity .
franchise In 1963.
Stock $10,000,000 ($100).....................
Q-J 15 $ 9 .9 9 9 .5 0 0 J a n .l5 ’ 12,1 %
Consolidated mortgage $ 1 0 ,-f 1909
5 g J -D
4.729.400 D oc. 1 1939
S T O O lt A N D B O N D S —
Date.
Interest.
Outstanding.
Maturity
000,000 g ($100 $500 a n d lln t. at M ontreal Trust C o ., M o n t., trustee.
Stock $500,000 ($100).............. ................................
$500,000
$1,000 — ________________ 1 Bank o f Scotland, London, Eng.
Collateral trust first m ortgage/ 1902
6 g M -N
213,000 M a y l" 1927
Quebec-Jacquos Oartlor Pow (
1901 5 J-D
849,000 D oc 11941
$750,000 gold ------------c * . t f (In t. at Boston S. D . is T r. C o .. B oston. Trus.
1st ref $1,000,000 ($1,000)(T ru st
C o. o f America, N . Y .,
trustee.
Bonds.— Callablo as a whole at 105 and Int. on any Int. date. A sinking
g Int. I n N . Y ---------------- c * (I n t . at R oyal Bank o f Canada, Queboc.
fund o f 1% per annum o f bonds Issued became operative M a y 1 1903 and
M o r tg a g e s o n lin e s to b e ta k en ov e r b y G ov t .—
u Invested In the bonds at not m ore than 107 K and int. $37,000 bonds
had been canceled by this fund to D ec. 31 1917.
Que-Sag Dlv IstM $2,500.0001
1911 5 F-A
2,356,000 Fob. 1 1 9 4 1
sink fd. P & 1 payable in( Int. at Dom inion o f Can. T r. C o .. M ontreal
E A R N IN G S .— For 12 m onths ending D ec. 31 (com bined com panies):
francs or Canadian cu r r .c * ( T ru s., or at o ffice o f R . Forgot, Paris.
Year—
Gross.
N et(aft.Tax) Interest.
Sink.Fd.
Surplus.
Que R y L II & P now mtge)
1912 5 J-J
2,100,000 Jan 1 1942
1917........................$152,290
$60,762
$26,010
$2,500
$32,252
60.000,000 francs(500 f r ) . . /
1916......................... 146,551
49.790
2?,039
2,500
20,251
Quebec-M ontm orency R y M f 1899
5%
2,500,000 June 1 1923
R O A D .— Operates 5.6 miles o f equivalent single track. .54 miles o f
old $2,600,000 ($100 $500) Int. at Bank o f M ontroal, M ontroal, and
trackage. 12 cars. Gauge, 1 m etre. Power station has 950 k . w. ca p a city.
1,000 — - — - — - __c * ( Union Bank o f Canada, Queboc.
O F F IC E R S .— Pres., Frederick S. Pratt; V .-P ., Francis J. n o v e y ;
S tock Is listed in Paris.
T reas., Henry B . Sawyer: Sec., G eo. A . Peirce; Gen. M g rs., Stone & W ebBonds.— C onsol. m tge. 5s o f 1909 aro red. at 105 and Int. on any int. d a y
«ter M anagem ent A ssociation.— V . 74 p . 268, 478.
$3,659,000 o f the consol, bonds are reserved to retire underlying bonds and
$1,611,600 are In treasury. $144,000 Quebec-Saguonay D lv . bonds have
o qqn canceled
P O R T O R I C O R A I L W A Y S C O ., L IM IT E D .
Initial d lv .— 1 %
O R G A N IZ A T IO N .— Incorporated In Canada O ct. 1906 and has acquired , Dlrldffnds.— 1 % ; none since. — paid April 15 1911; July, 1 % ; O ct.. 1 % .
In 1912, Jan.,
the San Juan Light & Transit C o. and P orto R ico Power is Light C o. and
R E P O R T .— For years ending June 30 (1917 report In V . 105, p. 1705):
Caguas Tram way C o. Controls all the electric railway, electric light and
power business o f San Juan, San Turce and R io Piedras; also controls entire
J u n e 30
G ro ss
N et
M is c .
C h a r g e s a n d B a la n c e ,
. Y ear—
B u r n in g s .
E a r n in g s .
C r e d its .
T a xes.
S u r p lu s .
lighting systems In cities o f Com erio, B ayam on, C atano, Carolina, Caguas
1916-17...................... $1,832,032 $676,063
$230,850 $706,326 $200,587
R io Grande, Fajardo. H um acao, Y abucoa, G urabo, Juncos and othor towns
1916-16........................ 1,731,732
701.981
236.869
723.447 215 403
in east end o f island. Its lighting franchises In San Juan and San Turco are
623,279
235.978
7391482 1191775
1914-16........................ 1.548.096
perpetual. T ho Com erio W ater Power and Caguas Tram way franchises
are for 99 years from 1906. Tho stroot railway franchise runs until 1959.
R O A D .— Owns 19.77 miles o f track In Quobec. 50 and 70-lb. T rails
An express service was Inaugurated in 1908 in conjunction with Porto Rico gauge. 4 ft. 8 H In.
’
Express C o.
O F F IC E R S .— Pres., Sir Rodolphe Forget, M . P ., M ontreal; V -P r
Contract.— Has a 5-year street-lighting con tract with tho city o t San
L om e O . W ebster, M ontreal; Sec., A rthur L eM olno, Quobec; T re a s .’
Juan, expiring in 1919, and with abou t 30 othor towns for various periods.
R . A . W ilson; Gen. M g r., W . J. Lynch; Com ptroller, H. K . Tennent.—
S T O C K A N D B O N D S—
Date.
Interest.
Outstanding.
Maturity
V . 104, p. 560, 1590, 1700; V. 105, p. 716, 998, 1618, 1705; V. 106, p. 500.
Com m on stock $3,000.000-------------Q-J
$3,000,000
See text
P f $1,000,000 ($100) 7% _cu m . — .
Q-J
1,000.000 A p r ’ 18, \M
First mortgage $3,000,000 1906
5 M -N
2,642,000 N ov I 1936
($500) g o l d . .
In t. at M ontreal Trust C o ., Trustee
SHERBROOKE, QUEBEC.
M ontroal and Halifax, or M otropol. B k ., T or.
S H E R B R O O K E R A IL W A Y & P O W E R C O .
R efunding general mortgage 1912
5 M -N
£265,000 M a y 1 1962
£1.500,000 (£100)............c* Int. in London, M ontreal and T oron to; M on
Control.— As o f M arch 1 1917 the Southorn Canada Power C o. acqulrod
treal Trust C o ., Trustee.
m ore than 10,000 shares o f tho c o .’s stock on tho basis o f 4 sharos o f Sher
Bonds.- First m tge. bonds are subject to call at 105. Sink. fd . o f 1%
brooke R y. & Power C o . stock for 1 share Southorn Canada Power C o. 6 %
o f bonds issued plus one yoar’s Int. on canceled bonds began N ov. 1908
preference stock, cum ulative from Jan. 1920. V. 104, p. 74.
$358,000 bonds canceled. First M . bonds aro listed on M ontreal and
O R G A N IZ A T IO N .— Incorp. In 1910 In Quobec, C an ., as successors to
T oron to Stock Exch. O f ref. gen. m tge. bonds £543,000 aro reserved for tho Sherbrooko Stroet R y . In July 1911 acquired tho Eastern Townships
1st M . bonds and £90.200 are in treasury; remainder for future require Elec. C o. and tho Stanstead Elec. C o. V. 93, p. 230. A lso owns tho
ments under restrictions. Subject to call as a whole or for cum . sink Lennoxvilo Light & Powor C o. Controls m ajor part o f tho olectrlc light
ing fund (1 % o f bonds out beginning In 1937) at 105 and Int. V . 94, p. and power business In the district botwoon Shorbrooko and the International
1566. Aro listed on London Stock Exchango.
B oundary.
Dividends.— First d lv. on p ro f., 111% . paid Jan. 10 1910, and same
In 1913 acquired tho Burroughs Falls Powor C o ., which controls tho eloc
am ount quarterly since to ana Including A pr. 1918. On com ., ls t d lv . 1%
tric light and powor business In Ayors’ C liff, Quo. V. 97, p. 1824. In 1914
paid O ct. 1911. In 1912 and 1913, 4 % . In 1914. Jan., 1 % ; A pril,’ 1% : acquired tho International Elec. C o ., doing tho eloctric light and pow er
July, 1 % . N one since.
business In Derby Line, V t.. and in 1915 acquired tho lighting and pow or
R E P O R T .— For calendar years
business o f G eo. Gole & Sons In Watervillo and C om pton, Quobec.
Year—
Gross.
N et.
Oth.Rev Interest. Pref.Dlv. Surplus.
Franchise In Sherbrooko Is for 40 yrs., exem pting proporty from taxation
1 9 1 7 ................. $902,393 $396,411 $4,800 $198,417 $70,000 $132,795 for 1st 20 yrs. At ond o f 20 yrs. city may purehaso stroot railway proporty.
1916.................. 829,057 416,626
5,347
200,533
70,000
151,439 Consol, mtge. 5s were offered with a 40% stock bonus. V. 91, p. 95; V . 93
1915.................. 747.180 377.361
-- -----3,454
04,886
70,000
105,930 p. 590; V. 94, p. 1120.
T otal surplus D ec. 31 1917 was $123,084 a ter deducting $100,000 de
In Aug. 1916 entered Into a contract for a supply o f 2,000 h. p. from the
preciation reserve.
Southern Canada Power C o ., L td ., to bo usod In connection with Its own
5,599,542 passengers carried In 1917, agains 5,203,192 In 1916.
power developm ent.
f
ELECTRIC RAILWAYS
M a y , 1 9 1 8 .J
S T O C K A N D BONDS
Date.
Interest. Outstanding
Maturity,
Stock $ 1,600.000 ($ 100). .
..............
S I .127,000
Consol. M . $1,500,000 g o ld / 1910
5 g J-J
1.006.000 July 11940
s f ($500 or £ equivalent) tf IMonti
Shorbrooke Stroot R y 1st M tr 1897 5 g J-J
100,000 J ’ne30 1927
Collateral notas ($100,000) g| 1915 7 M -S
32,500 Sept 1 1920
($100, $500, $1,000)______ lin t , at Prudential T r. C o ., L td .. M o n t., trus
Bonds.— O f remaining consol, m tge. bonds, $194,000 are for futuro oxtensions, $100,000 are to retire Shor. St. R y. bonds, and $200,000 are
deposited as socurity for the notes. Int. at any branch o f Eastern T o w n
ships D opt. o f the Canadian Bank o f Comm erce In Canada, or at N ational
Bank o f Scotland, London, E ng. R ed. as a whole at 105 and lnt. on any
Int. d a y, or In part for sinking fund. C um . sinking fund o f 1% began
July 1 1916. $16,000 hold In sink. fund. The collateral notes are secured
b y deposit o f $200,000 cons. M . 5s. They are rod. at 102)4 and Int. on 3
m onths’ notice.
R E P O R T .— For years end. June 30 (Inter-co. charges eliminated In 1916)
June 30
Total
Net
Bond
Other Written Office
Balance,
Year— Incom e. Revenue.
Interest. Int.
Off. & c.,E xp . Surplus.
1915-16.-$140,069
$66,350 $54,525 $3,899 $2,780 $ 1,4 2?
$3,719
1914-15-- 146,769
55,920
49,535
4.204
376
1,780
24
R O A D .— Owns lO H vm lles o f track In Sherbrooke, Including 3-mlle
extension to Lennoxvllle. Standard gaugo, 70-lb. T rail
O F F IC E R S .— Pres., W . G. Hawkins; V .-P ., F. W . Toolo; Sec. & T reas.,
L. O. Haskell; M g r., J. B. W ood y ott.— V. 101, p. 924, V. 103, p. 1668;
V . 104, p .7 4 ,6 6 4 . Jj
SYDNEY, NOVA SCOTIA.
C AP E B R E T O N E L E C T R IC C O .. L T D .
O R G A N IZ A T IO N .— Incorporated in N ova Scotia and does the entire
electric railway and lighting business In Sydnoy; the entire oloctric lighting
buslnoss in North Sydnoy, tho ferry business botweon Sydnoy and N orth
Sydney, and oporatos an intorurban line between North Sydnoy and Sydnoy
M inos. Also owns cap. stock and $220,000!of tho’ $385,000'outstandiing 1st
M . bonds o f tho Sydnoy & Glace Bay R y. C o ., L td ., an intorurban lino 19 in.
in longth botwoon Sydnoy and Glace B ay, which Is operated under lease for
99 years from Jan. 1 1911. Guar, paym ent o f said c o .’s bonds, principal,
Interest and sinking fund. Franchises expire 1931 and 1932. On M ay 5
1914 authorized prof, stock was increased from $250,000 to $500,000.
Interest. Outstanding.
STOCK A N D BONDS—
Date.
M aturity.
M -N
C om m on $1,125,000 ($100).
$1,125,000 M a y '18, 1J4
M -N
Pref 6% $500,000 ($100)-----234.000 M a y '18,3%
First m ortgago $1,500,000 1902
5 J-J
1,096.000 Jan 1 1932
gold _________________ c . n t f , Int. at State St. T r. C o ., B oston, trusteo.
Sydnoy & Glace Bay 1st M . f 1902
5 J-J
165.000 July 1 1932
$500,000 g u a r a n te e d -c .n tflI n t. at R oyal Trust C o .. M ontreal, trusteo.
" Stock.— Proforrod stock is redeem able at 120. Capital stock auth. b y
chartor, $2,000,000. O f tho unissued portion as m uch m ay bo preferred as
tho stockholders dotormlno.
1 Bonds.— O f tho 1st m tge. bonds, $2,000 canceled for im pt. fund. Im pt.
fund o f 1% o f bonds Issued. Red. at 105 and int. on any int. date. O f
the Sydnoy & Glaco Bay 1st m tge. bonds, $55,000 havo boon canceled b y
sink, fund, $220,000 hold b y C apo Breton Elec. C o. Red. as a wholo at
HO.and Int. on any int. dato. Sinking fund o f 1% per annum.
Dividends.— 6 % yearly on prof, stock. On co m ., first d iv ., 1 )4 % , paid
N ov. 1910; in 1911. 4 % ; in 1912, 4 % & 1% extra; in 1913 and 1914, 6 % .
In 1915 and slnco, 3 % .
E A R N IN G S .— For 12 months ending Doc. 31:
Year—
Gross.
Net (aft. Tax.)
Interest. Sk.,& c.,Fds.
Surplus.
$165,835
$63,292
$15,360
$87,183
191 7 ........... $464,082
..................... 393,667 162,402
62,968
15,360
84,074
191 6
R O A D .— Cape Broton Electric C o ., 12.85 miles; Sydney & Glaco B ay, 19
miles; total, 31.85 miles. Gaugo. 4 ft. 8pj In. 22 passenger and 9 other
cars. Power stations havo 1,800 k.w . capacity.
O F F IC E R S .— Pros., A . S. Pratt; V .-P ., Frederick S. Pratt; S ec., W . T .
C rawford: Treas., 11. B . Sawyer; Gen. M grs., Stone & VVobstor M g t. A ssn.,
B oston; M g r., C la u d oO . C urtis.— V. 100, p. 1436; V. 102, p. 1718; V . 105.
p.,1103; V. 106, p. 1900.
TORONTO, CANADA.
THE TO RO N TO
R Y . — A tr o lle y r o a d .
O R G A N IZ A T IO N .— Incorporated in 1892 and acquired b y purchase the
old T oron to C ity Stroet Railways and tho exclusive privilege to work streot
railways In tho city o f T oron to for a term o f 30 years from Sept. 1 1891
(with tho exception o f tw o small reservations in tho A ct which aro believed
to bo o f no im portance), a privilege which has since boen ratified by A ct of
tho Legislature o f Ontario. Owns, directly or Indirectly, practically the
entire capital stock o f tho T oron to & M im ico R y . (now the T oron to Power
C o ., L td .); T oron to & Scarboro Elec. R y ., Lt. & Pow . C o .; M etropolitan
R y .; Schom borg & Aurora R y .; T oron to & York Radial R y .; T oron to Powor
C o ., L td .; Electrical Developm ent C o. o f Ontario, Ltd .; T oron to & Niagara
Powor C o .; T oron to Electric Light C o ., L td .: London Eloctric C o ., L td.
(now part o f T oron to & Niagara Powor C o .); Niagara Falls Electrical Trans
mission C o. (N . Y .) and Niagara Falls Gas & Elec. L t. C o. (N . Y . ) . In
O ct. 1902 stock was increased to $7,000,000, and in April 1906 to $8,000.
000. On A ug. 14 1911 stockholders voted anothor increase to $12,000,000.
and also tho paym ont o f a stock dlvldond o f $1,000,000. Stockholders
were allowed to subscribe for $2,000,000 o f tho stock at par. V . 93, p. 230,
470. On M ay 29 1916 tho shareholders voted to increase tho stock to
$15,000,000 to provldo funds for tho financial roqulromonts o f tho com pany
and for nocossary extensions and bottormonts for the subsidiary com panies.
N o action was taken b y the directors as to disposition o f now stock. V.
102. p . 2078.
Payments to City.— As to annual payments to city , soo “ Supplem ent “ o f
M a y 1898. Paid t o ’clty in 1917, $1,187,031; ln71916, $1,113,010; in 1915;
$1,064,072; In 1914, $1,122,914; in 1913, $1,089,708; in 1912, $942,049; in
1911, $822,233; In.1910, $727,480; in 1909, $640,281; in 1908. $578,995;
In 1907, $542,091.
Statement by Pres. Mackenzie.— As to his holdings, & c., see V . 106, p.1462.
Purchase by City Authorized.— On April 23 1913 tho Ontario Legislature
passed a bill authorizing tho city to purchase tho com pany's property; also
the rights and interests o f all com panies and persons owning or operating
oloctric railways within tho city and such plants o f them outside tho city
as It m ay doom oxpodiont. Tho city is also authorized to borrow the money
required therofor. For further dotalls see V. 96, p. 1365. A uthority to
purchase tho T oron to Eloctric Light C o. was gtvon undor a provious A ct.
F or negotiations In 1913-1914 for tho purchase o f tho com pany's property
by tho city, see V. 96, p. 1774; V . 97, p. 238, 1664, 1899. On Jan. 1 1918
tho citizens o f Toron to voted in favor o f tho city's taking over the c o ’s
properties upon expiration o f tho franchise agreement in 1921.
Notes.— $750,000 6 % gold notes duo D ec. 1 1918 wore Issued in N o v .
1917 to rotlre a like amount which fell duo D ec. 1 1917 (V . 105, p. 2095).
Tho original issue was sold in N ov. 1914 for financing extensions and im
provements o f tho Toron to Powor C o. V. 99, p- 1675.
Strike.— Tho strike begun at midnight July 10 1917, was declared o ff
July 13, tho men accepting a temporary offer o f 6 cents an hour Increase and
agreeing to a board o f conciliation, instead o f arbitration, to discuss their
ievauces. Tho board In August 1917 awarded increases ranging from
to 7 cents per hour, which woro accepted by tho men and tho com pany.
f
S_ O C K A N D B O N D S _T
Interest. Outstanding Last D iv ., A c
Dale.
Stock $15,000,000 ($100)--------------Q-J
$12,000,000 A p r ’ 1 8 .1 %
First M . $4,550,000. $ «fc £ ,( 1892
a4)S g abt. 2,957,200 Aug 31 1921
$35,000 per m ile----------- c*\Tru s., E.R. W ood ,T or.,& R.B. Angus, M on t.
N otes $2,000,000 ($1,000) rod J 1914 6 g J-D 1
1,500,000 D ec 1 1918
at 102)4 & hit on 30 d a ys.cl Int. pay. in N .Y . .Toronto, M on t. & London.
T oron to S Y ork Radial R y j 1904 5 g A-O
c
1,640,000 O ct 1 1919
first m tgo gold ($1,000)] National Trust C o ., L td ., T oron to, trustee.
guaranteed_____________ c * l l n t . at Bank o f M ontreal, T oron to and N . Y .
a Intorost and principal on sterling bonds payablo Fob. 28 and A ug. 31
at Bank o f Scotland, Lothbury, London, E . O.
135
Sinking Fund.— The com pany Is obliged to redeem 5 % o f Its total bond
Issue by drawings at par yearly from A ug. 31 1911 to 1920.
Bonds.— T he first m tge. covers entire property, subject to paym ents due
tho city . Over $1,592,000 first m tge. bonds have been retired. Bonds are
listed on London Stock Exchange. Notes are the direct obligation o f co.
and are endorsed b y the T oron to Power C o. T he T oron to R y .w ill pay
$50,000 m onthly beginning Feb. 1 1918, making a total o f $500,000 before
m aturity, to retire the notes by purchase in open market at not exceeding
par and int. V . 105, p. 2095. T he T oron to & York Radial R y . first
m tge. 5s are guar., prinicial and interest, b y the T oron to R y.
, „ £ M de? & r -,l n .1898i 4 % : ln 1899- 4 % : in 1900, 4 % ; In 1901. 4 ) * % ; In
in 1906. 5 )4 % ; In 1907. 6 % ; in 1908,
6 % ; in WO9 , 6 H % ; In 1910, 7 % ; In 1911. Jan., 1 )4 % , A pril. 1 )4 % , July.
1 )4 % ; In A ug. declared a S l.000,000 stock dividend (V . 93. p. 470): O ct..
2 % in 1912; to and inch 1917, 8 % per annum. In 1918, Jan., 2 % ; A p r.,
1 % . (V . 106, p. 1462.)
R O A D .— Operates 127 miles o f track; 69, 73 and 90 lb . girder and 70-lb.
T rails. Owns 896 passenger cars, o f which 799 are m otor cars.
R E P O R T .— O f Railway Co. for cal. years:
Calendar
Gross
N et
Total
Dividends
Balance.
Year—
Earnings. Earnings. Deductions.
Paid.
Surplus.
1 9 1 7 ..........$6,291,759 S2,476.481 $1,381,671
$960,000 $134,810
1916 -------- 5,973,161 2,622,503
1,281,711
(8 % ) 958,826 381,966
R ovenuo passengers in 1917, 158,087,984; transfers, 62,301,636; in
1916, rovenuo, 149,529,754; transfers, 61,342,763.
Latest Earnings.— O f T oron to R y . and sub. cos. for 10 m os. end. O ct.
31: 1917, gross, $9,934,998; net, $4,603,224; in 1916, gross, $8,913,224;
net, 5 4 fo55,734.
O F F IC E R S .— Pres., Sir W illiam M ackenzie; V .-P ., Frederic N lcholls,
^ 8 r '1462bti578 ^ O P ’1181 SGC' & T reas" J ' ° - Grace.— V . 106, p. 397
(1) T o r o n t o P o w e r C o .—
Entlro stock is owned b y T oron to R y ., $2,000,000 directly and $1,000,000
through a subsidiary com pany.
T oron to Power C o . owns all the $4,000,000 stock o f the T oron to E lec.
Light C o . and $2,992,600 o f the $3,000,000 com m on stock, $2,981,400 o f
the $3,000,000 pref. stock and $5,014,000 1st M . 5 % bonds o f the Electrical
Developm ent C o.
T ho franchise o f the T oron to Elec. L t. C o ., dated N o v . 13 1889, gives
the city the option o f purchasing the property on N o v . 13 1919 on a basis
to bo fixod by arbitration, failing agreement as to price, on one year’s notice.
If option is not exercised in 1919, city has no further rights o f purchase
for 20 years. The Electrical Developm ent C o .'s franchise extends to 1953,
with privilege o f renewal.
In June 1916 the T oron to E lec. L t. C o . issued $1,000,000 3-year 1st M .
5 % gold bonds to retire a like am ount o f 4 H % debentures due July 1 1916.
V. 102, p . 2347.
STOCK A N D BON DS—
Date.
Interest. Outstanding. M aturity.
Stock $3.000,000....................... ------------------------See text ___________
T o r P ow C o Ltd deb stk, sterl' g 1908
4)4 J-J
$649,750 July 6 1918
T o r Power C o cons deb stock P 1911
4)4 M -N 15.998,315
1941
$25,000,000 guar p & 1 by British Empire Trust C o ., L td .. L ondon ,
T oron to R y C o $ <s £_____
Trustee. Callable at 105.
T o r Pow C o gu bds $4,250.- 1914.
5 g J-J
4,068.800 July 1 1924
000($100. $500 & $ l,0 0 0 )c* Int. in N . Y ., N at. T r. C o ., L td ., T o r ., trus.
Elec D ovel C o $10,000,000/ 1903
5
9,846,500 M ar t 1933
1st m tge ($500) g ............c * l l n t . at C an. B k. o f C om ., T o r.. N .Y . & L on.
Toronto Elec Lt 1st M $ l ,- ( 1916
5 g J-J
1,000.000 July 1 1919
000.000 gold ($1.000)— c* lln te re s t payable in N . Y . and T oron to
Tho deb .stock o f 1908 o f the T oron to Power C o . is guar, unconditionally
prin. & Int., by T oron to R y. C o . Secured by $2,000,000 bonds and fourfifths o f com . shares o f Elec. D evel. C o. o f Ontario. L td . Sink, fund fnr
samo equal to one-tenth o f stock is payable annually. V. 87, p. 286. Am ount
redeemed and sink, funds on hand, $1,783,583. T oron to Power C o . bon,i,
o f 1914 aro also guar, unconditionally, p. & L , by T oron to R y . C o . Thnv
aro callable at 100 and int. on any Int. date on 3 m os.' notice. ElectrLYi
D evel. C o . bonds have sink, funds which began In 1911 o f $1 per year
each olectrical h. p. sold. V. 88, p. 1316. O f the T o r. Pow . C o. cons, d
stock, $11,000,000 are reserved to retire like amount o f Elec. D evel. aeb.
T o r. E lec. L t. bonds, and remainder is for extens. and Impts. at 8 0% nd
cost. Sink, fund began in 1913, calculated to retire whole o f icocu: at
turity at 105. Int. is payable in London and T oron to. See V. 93, p. 132o
T ho T oron to E lec. L t. bonds are red. as a whole or ln part, but not less t h a ° ‘
$500,000. at 101 and int. on any int. date after July 1 1917. V . 102, p . 2347n
R E S U L T S .— O f T oron to E lec. L t. C o . for calendar years:
Year—
1915.
1914.
1913.
1912.
N um bor o f custom ers_______
25.844
25,398
22,191
19 812
K ilow att hours sold ..................51,395,537 59,581,385 52,767.244 41,306,323
Gross earnings.................
$1,320,085 $1,341,121 $1,250,537 $1,168,673
N et, after taxes, & c-------------371,997
374.833
367.752
402,691
P R O P E R T Y .— Leases the Electrical D evel. C o .'s hydro-electric pow er
plant at Niagara Falls, O n t., with a total generating capacity o f 140,000 h .p .
o f which 15,000 h .p . held ln reserve, and two transmission lines (4 circuits)
Into T oron to on private right o f w ay. The T o r. E lec. L t. C o . owns a
steam auxiliary powor plant o f 17,500 h.p . ca p a city.— V. 95. p . 364: V. 96
p. 423; V . 99. p . 1216; V . 102, p. 2082; V . 103. p . 1987.
B R A Z IL IA N T R A C T IO N . L IQ H T & P O W E R C O .. L T D .
O R G A N IZ A T IO N .— Incorp. July 12 1912 In Canada with $120,000,000
($100) auth. stock and has acquired through exchange o f its stock for stock
o f tho newly acquired com panies (on basis shown in V. 95, p. 175) tho R io
do Janeiro Tram way Light & Power C o ., Sao Paulo Tram way Light <
&
Power C o . and Sao Paulo Elec. C o ., and through the first-named Company
controls entire capital stock o f R io de Janeiro & Sao Paulo Telephone C o .
Dte In ret. Ots nin. Mtu .
a . te s u tad g a rity
STOCK A N D NOTES—
Ordinary, $110,000.000.......................
Q -M
$106,417,800
See text.
Pref 6 % cu m $l(),000,000($100)____
6 Q-J
10,000.000 A pr '18. 1 X
Secured n o te s $7,5 00 ,0 0 0 gold 1 1918
6 g M -N
7,600,000 N o v 1 191fl
($ 1 ,0 0 0 )---------------------— c /I n t . payable ln N . Y ., T oron to & M on treal.
— T h e pref. stock is co n v . into com m on stock at any tim e on basis
o f 1 1-5 shares pref. stock for 1 share o f com m on. V. 96, p. 1421. P ref.
stock listed on London and T oron to stock exchanges. C om m on stock
listed on T oron to, M ontreal, London, Belfast and Brussels stock exchanges.
V . 97, p . 363.
— D irect obligation o f the co . Secured b y £1,028,000 ($5,002,933)
R io do Janeiro T ra m ., L t. & P ow . C o . Gen. M . 5 % bonds due 1963:
£514,000 ($2,501,467) Sao Paulo T ra m ., L t. & P ow . C o. G en. M . 5 %
bonds due 1963, and $7,500,000 R io de Janeiro & Sao Paulo Telephone C o .
1st M . C oll. Trust 6 % bonds due 1946. N otes are callable, all or part by
lot, at 103 and int. on any int. date to and incl. N o v . 1 1918, and at 101
and int. on M a y 1 1919. Central Trust C o. o f N . Y ., trus. V. 103, p. 1686.
— 6 % is being paid on the pref. stock. First d iv . on co m .—
1 )4 % — Paid N o v . 15 1912. In 1913 and 1914, 6 % . In 1915 and 1916,
4 % . In 1917, M arch, 1 % . N one since.
S c.
tok
Nte.
os
Didns
iv e d.
R E P O R T .— For periods ending D ec. 31 (1916 report in V . 105 p. 4 9 1 )'
Period Covered—
Tot. Inc. C h a r g e s . Pref. D u s. Com. Dies. Surplus'.
Y r. end. D ec. 3 1 ’ 16-$6,019,473 $344,831 *$600,000 C$4,251,488 $823,154
Yr. end. D ec. 3 1 '1 5 . 5,612,876 218,074 *600,000 c4,249,380 545 422
Yr. end. D ec. 3 1 '1 4 - 8,058,813 392,281 *600.000 *6.257,119
809 413
18 m o.end.D ec.31’ 13 11,522,837 324.343 a450.000 b7,735,496 3,012,998
* 6 % . a 4 )4 % . b 7 H % . c 4 % .
L a te s t E a r n in g s . — (M ilreis):
— 3 M o s . e n d . M a r . 31— — Y e a r s e n d . D e c . 31—
1918.
1917.
1917.
1916.
G r o s s ................................... 23,247,000 21,687,000 92,200.000 84,885,000
N e t....................................... 11.186,000 12,036,000 47,073,000 46.593,000
N o t e . — Tho unfavorable showing in 1915 and 1916 is due to the decline
ln tho exchange value o f milreis which fell from about 16 pence for sight
bills on London prior to the outbreak o f the war to an average o f abou t
12H ponce in 1915 and 12 ponce in 1916.
O F F IC E R S .— Chairman o f Board, Sir William M ackenzie; P res.. A lex
ander M ackenzie; S ec., J. M . Smith, T oron to.— V . 105, p. 491.
136
ELECTRIC RAILWAYS
[V ol . 106
Bonds.— R ed . b y a sinking fund beginning in 1922, in annual drawings at
(1) R io d e J a n e iro T ra m w a y , L ig h t & P ow er C o ., L td .
O R G A N IZ A T IO N .— Incorporated under the laws o f Canada In June par, or m ay be red. at 103 at any tim e on 6 m onths’ notice, or at par on
1904. Purchased the R io do Janeiro Gas C o. and threo street railway p rop voluntary liquidation or amalgam ation with another com p any. T he Bra
erties (the Villa Isabel Tram way C o ., the Sao Chrlstovao Tram way C o. and zilian T ra c., L. & P . C o . agrees to set aside s.-a . out o f the gross earnings o f
the Carrls TTrbanos Tram way C o.) Owns or controls entire $5,000,000 the Sao Paulo E lec. C o . a sum sufficient to meet the int. and sinking fund,
capital stock o f R io de Janeiro & Sao Paulo Telephone C o. (incorp. In C an and In case the earnings should be Insufficient, to m oot the same from Its own
ada in 1916 to carry out the plan, delayed b y the war, o f acquiring, consoli revenues. Int. payable in L onon, N . Y ., T o ro n to , Brussels and Basle,
dating and developing the telephone enterprises). T he latter co. has an and at Canadian Bank o f C om m erce or its agenclos. Listed on London
auth. issue o f $7,500,000 6 % 3CKyear coll, trust bonds (pledged as collateral Stock E xchange. V . 95, p. 1043; V . 96. p . 65.
to the 3-year notes o f the Braz. T ra c., Lt. & P. C o ., L td .), and has acquired
P R O P E R T Y .— H ydro-electric plant o f 30,000 k . w . with an ultimate
all the shares o f the following c o ’s except a few shares in the last tw o named: capacity o f 50,000 k. w ., was com pleted and placed in operation during
Brazilianische Electricitats-Gesellschaft, Interurban Telephone C o . o f 1914. Has a contract to supply the Sao Paulo T ra m ., Light & Power C o .
Brazil, Com panhia de Telephones Interestadoaes, Com oanhla Teleohonica with 15,000 h. p . and supplies electric light and power In Sorocaba, 53
d o Estado de Sao Paulo, Companhia R ede Telephonica Bragantina, the miles from Sao Paulo, and to tho neighboring towns o f Sao R oque, Una,
T ram w ay Light & Powor C o.: also owns tw o water power plants, gas R odovalho and M ayrink. A lso operates 354 miles o f track i n Sorocaba;
plant and electric-light and power plant. In 1909 purchased con 6 cars.
trol o f the Ferro Carril d o Jardim B otanico (V . 88, p. 883) and
consolidated it with tho Tram w ay Light & Power C o. under an
operating contract. Has also acquired the Jacarepagua tram w ay lines
WINNIPEG, MANITOBA.
(11 m iles). Tho gas and olectric-light franchise expires 1945, gas franchise
being exclusive until 1945 and electric light until 1915, with a m onopoly for
W IN N IP E G E L E C T R IC R Y .
public lighting until 1945. Telephone franchise in R io do Janeiro expires
1928 and is exclusive: the other telephone franchises are perpetual or for
O R G A N IZ A T IO N .— Incorporated in M anitoba In 1904 and is a consoli
long periods and are m ainly exclusive. See V . 83, p. 214. R io de Janeiro dation o f the W innipeg E lectric St. R y . and the W innipeg General Power
Tram w ay concessions wero oxtended In 1907 until 1970 and give exclusive C o . Controls Suburban R apid Transit C o . and W innipeg Selkirk & Lake
privileges until 1940 in very large area o f city . Franchises for distribution of W innipeg R y ., and guarantees bonds o f those com panies, prin. and Int.
electric energy for lighting and power service wore also extended to 1990. V . 86, p . 1346; V . 101, p . 1466. Operates tho entire street railway and gas
Concession to develop power is perpetual. B oth stock and bonds are listed business in W innipeg, the street railway in St. B oniface, and does the largest
on the London, Brussels and T oron to stock exchanges. V. 93. p- 528: V. 86, part o f the electric light and power business In those cities and vicin ity.
p. 1044: V . 88, p. 507. In April 1909 2d M . bonds wore listed on London Franchises either perpetual or for long terms and street railway franchise is
Stock Exchange. V . 88, p. 883. See description o f property in V. 87, p. 97. exclusive In W innipeg until 1927 and In St. Boniface until 1943. C ity o f
On Doc. 8 1911 stockholders votod to Increase auth. stock from $40,000,000 W innipeg m ay purchase the proporty In 1927 upon 6 m o s.’ notice at its
to $50,000,000, o f which $5,000,000 was offered to stockholders— 1 now physical valuation (incl. cost o f paving done b y c o .), to be determined by
for 8 old (V . 93. p. 1669, 1463).
arbitration; after 1927 city m ay exerciso right to purchase at tho end o f each
On Jan. 2 1914 created an auth. issue o f £2,000,000 5 % G en. M . bonds succeeding 5-year period on 1 year’s notice.
to be used as collateral security for raising funds for capital requirements
In O ct. 1913 Judge R obson, the P . U . Com m issioner at W innlpog, denied
when necessary. £1,028,000 have been deposited as security for the Bra the application o f the m unicipal power plant o f W innipeg to sell current
silian T ra c., L igh t & Pow er C o. 3-year notes.
in St. Boniface w ithout the consent o f tne latter city . It was held that
the W innipeg E lectric R y . supplied St. B oniface with current satisfactor
Date. Interest. Outstanding. Maturity.
STOCK A N D BONDS—
Q -F
$45,000,000 5M ay T 8 1>* % ily. V . 97. p . 1288.
Stock $50,000,000 ($100)-------- ____
Jitney Competition Abolished.— In April 1918 tho city authorities voted
General m ortgage £2,000,000 ______
5%
See text
1963
to abolish jitney service, thus rem oving this form o f com petition against
25,000,000 Jan. 1 1935
First m ortgage $25,000,000 1905 5 g J-J
tho co.
($100, $500 and $1,000) Int. payable in T oron to, N . Y . & London
go ld ____ ___________________ N ational T r. C o ., L td ., T oron to, trustee
STO C K A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
Second m ortgage bonds (see 1908 5 A-O
£5,266,000 April 1958
S to c k $10,000,000 ($100).....................
Q-J
$9,000,000
See text
text) (£100 and fr. 5 0 0 )-- N at. T r. C o ., L td ., T oron to, trustee. Perpetual debenture s to ck ___/ ____
454 A-O 2
£900,000
See text
In t. at C an. Bank o f C om .. L ondon, and
(British Empiro Trust C o ., L ondon , Trustee.
in T oron to, Canada, Paris and Brussels. First refunding M $5,000,000/ 1905
5 g J-J
$4,000,000 Jan. 2 1935
£1,400,000 July 1 1951
Jardim B otanico Tram way 1911 5 J-J
gold sink fund ($ l,0 0 0 )--C *\ In t. at Bank o f M ontreal, M ontreal < N . Y .
&
1st m ortgage £1,400,000 N a t. Trust C o ., L td ., T oron to, C an ., trustee N otes $1,500,000($1,000) re d / 1917
6 g J-J 15
750,000 Jan. 15 1919
In t. at offices o f Can. Bank o f Comm erce
(£ 10 0 ).................................... c
at 10254 on any int. d a y/C en tra l Trust C o ., N . Y ., trustee. Int. at
in L ondon . New Y ork and T oron to.
on 30 days' notice_______ c
Bank o f M ontreal, in N . Y . or T oron to 9c
b Less British Income tax.
! In London, E n g., In sterling or par o f exch.
5 g J-J
1,000,000 Jan. 1 1927
Bonds.— A sinking fund on 1st M . o f 1% per ann. o f bonds out began In W in El St R y m tge $ 1 ,0 0 0 ,-/ 1898
000 ($500)________________ (Interest at Bank o f M ontreal, M ontreal.
1910.
The 2d M . debs, are subject to call on 3 m os.’ notice as a whole or
__________
1,446,000 ___________
any part at 105; also subjoct to skg. fd . drawings which bogan tho year end N otes payable D oc. 31 1 9 1 7 - - ____
ing A pr. 1 1918. A uth. issuo o f 2d M . bonds is limited, but bonds m ay bo
♦Payable to bankers, partly socured b y underlying bonds.
Issued to par value o f bonds o f 3 subsidiary companies outstanding Apr. 1
S to c k . — The debenture stock Is repayable at no fixed date, but is subject
1908 upon deposit o f said securities with trustee. V .92, p . 596 ,72 6 . Jardim to call at 105 and Interest. V . 88, p. 626. Listed on L ondon Stock E x
B otanico 1st M . bonds are red. at 102)* and Int. on 3 m o s.’ notice. Sinking change. V. 91. p. 1448.
fund begins in 1912. B onds are listed on L ondon Stock E xchange. V . 93.
Bonds.— O f the $5,000,000 1st refund, bonds, $877,500 are roserved to
p . 1786. R io do Janeiro T ra m ., Light & Power C o ., L td ., undertakas to
put aside semi-annually a sum suffcient to meet Int. and sk. fd . on Jardim retire the first 5s and $122,500 are In sinking fund. T he R oyal Trust C o .,
M ontreal, Is trustee. T ho now bonds are not subjoct to call, but 154%
B otanico bonds; V . 93, p . 528.
o f bonds outstanding Is payable to a sinking fund from 1915 to 1924,
Dividends.— First d iv .. 1 % . paid N o v . 1909: In 1910, * H % . In 1911 inclusive, and 2 % from 1925 to 1934, Inclusive. See V . 79, p. 2698. Tho
and since to and incl. M a y 1918, 5 % per annum.
notes are secured b y deposit o f f400,000 (approxim ately $1,950,000)
W innipeg E lec. R y . 454% perpotual consol, d e b . stock.
E A R N IN G S .— Earnings are now included In the Brazilian T raction
Dividends.— Paid 2 ‘4 % quarterly from April 1908 to April 1911. In
Light & Power C o. statem ent.
July rate was Increased to 3 % quar., which am ount was paid to and incl.
R O A D A N D P L A N T .— Operates 237.15 miles o f track in business and Jan. 1915; In April, July and O ct. 1915, 254% each. In 1916, Jan ., 2 %
residential section o f city and adjoining districts, Incl. scenic road, 2.33 m ., N one paid since.
owning a hotel on C orcovad o M ou ntain. Has 980 passenger, and 198
R E P O R T .— F or years ending D ec. 31:
freight and 2 service cars and 3 locom otives. C apacity o f power stations,
84,000 h. p. C om pany was supplying on D ec. 31 1916 to C ity o f R io de Year—
Oross.
N et.
Charges.
Dividends.
Balance.
Janeiro and vicin ity 97,858 h. p . in m otors, 10,860 arc lamps, 837,395 in 1917_____ $3,386,886 $1,243,374 $1,150,795 .. ................... ..
sur.$92,579
candescent lamps. On D ec. 31 1916 had 31,551 telephones In service. 1916_____ 3,337,180
1,398,139
952,887 ______________
sur. 445,252
Gas sales in 1916, 32,761,800 cu bic meters. On D ec. 31 1916 had 50,210 1915_____ 3,499,746
1,255.191
774,197 (954)$855,000
def. 374.008
light and power consum ers. Passengers carried in 1916, 198,677,975,
Passengers carried in 1917, $53,933,532, against 54,845,739 in 1916.
against 191,556,302 In 1915.
R O A D .— Operates 171.912 miles o f track, including Suburban R apid
O F F IC E R S .— Chairman o f B oard. Sir W illiam M ackenzie: Pros.7*Alox- Transit C o. and W innipeg Selkirk & Lake W innipeg R y . Has 318 m otor
ander M ackenzie; S ec., J. M . Smith; Gen. M g r., C . A . Sylvester. M ain cars and 14 trailers. Com pleted in 1907 a 30,000 h .p . water-power plant.
Installed a 12,000 h.p . steam turbine auxiliary plant in 1911, which gives
o ffice , 36 T oron to S t., T oron to.— V . 94, p . 1247, 1764; V . 96. p. 1298.
the com pany an auxiliary steam plant capacity o f 20,000 h.p .
O F F IC E R S .— Pres., Sir W illiam M ackenzie, T oron to; V .-P ., Sir Augus
(2) T h e S a o P a u lo T ra m w a y , L ig h t & P ow er C o ., L td .
tus N anton, W innipeg; Sec. & T reas., F. M orton M orse, W innipeg; Gen.
O R G A N IZ A T IO N .— Incorporated in the Province o f Ontario, C anada, M g r., A . W . M cL iraont.— V . 106. p. 1232, 1462, 1902.
in 1899 and owns an extensive system o f electric roads and electric-lighting
and pow er business in Sao Paulo, Brazil. Stock and bonds were listed on
(1) S u b u r b a n R a p id T r a n s it C o .
London Stock Exchange in July 1905. V . 81, p. 614. In N o v . 1906
O R G A N IZ A T IO N .— Organized In 1902 in M anitoba. Charter gives
authorized stock was Increased from $7,500,000 to $8,500,000 (V . 83, p.
com pany right to operate the telephone and telegraph lines and to dispose
1230), and stockholders were offered the $1,000,000 new stock at par.
See V . 83, p. 412. In 1907 purchased Santa Ana R y ., a narrow-gauge o f electric light, heat and power. Franchise, 35 years from 1902 and is
W innipeg Electric R y . controls road through ownership o f
mule line, which has been electrified. C om pany has secured an exclusive exclusive.
30-year concession for distribution o f light and power in m unicipality stock.
o f Sao B ernardo. On D oc. 27 1907 shareholders Increased authorized
STOCK A N D BONDS—
Date.
Interest. Outstanding. M aturity.
stock from $8,500,000 to $10,000,000. V . 86, p. 53.
__________
See text
___________
Stock $100,000......................... ____
On Jan. 2 1914 created an auth. Issue o f £1,000,000 5 % G en. M . bonds First m ortgage ($1,000) g .c *
1908
5 F-A
$500,000 Jan. 31 1938
to bo used as collateral security for raising funds for capital requirements
Guaranteed, principal and R oyal Trust C o ., M ontreal, trustee.
when necessary. £514,000 have been deposited as security for tho Brazilian
interest, b y W innipeg Elec Interest at Bank o f M ontreal, M ontreal,
T r a c ., Light & Pow er C o. 3-year notes.
tric R y .
T oron to, N ew Y ork or London, England.
STO CK A N D BONDS—
Date. Interest. Outstanding.
M aturity.
Stock $10,000,000 ($100)....................
Q-F
$10,000,000 6 M a y’ 18 214%
Perpetual consol debenture f ____ M -S 2
£821,917
Perpotual
stock issued Feb 1911......... (Interest payable in London and T oron to.
General M ortgage £ 1 ,0 0 0 ,0 0 0 .____ 5 %
See text
1963
First m ortgage $6,000,000/ 1900 5 g J-D
$6,000,000 June 1 1929
gold ($500)_____________ c*(N a tlon al Trust C o ., L td ., T oron to, trustee
b Less British incom o tax.
Stock.— Perpotual deb. stock Is redeem , at 105 on 6 m as.’ notice. Trustees
are British Em pire T r. C o ., L td ., L ondon , and N a t. T r. C o ., L td ., T oron to.
Stock Isllsted on London Stock Exchange. V . 94, p. 1250.
Bonds.— Interest is payable at the Canadian Bank o f Com m erce In L on
d on, E ngland, and N a t. Trust C o ., L td ., T oron to, Ont. N o sinking fund
and bonds are not subject to call.
Dividends.— In 1902, 3 5 * % ; in 1903. 5 5 * % : In 1904, 7 H % ;i n 1 9 0 5 ,8 % ;
in 1906, 8 % ; in 1907. 8 5 * % ; in 1908, 9 5 * % ; in 1909 to 1911 Incl., 1 0 % ; in
1912, Jan ., 2 5 4 % : A pril, 2 54 % : J u ly. 2 5 4 % : O ct., paid 5 -6% for m onth
o f July, 1912, in accordance with plan o f amalgam ation; N o v ., 2 5 4 % .
In 1913 and since to and incl. M a y 1918, 10% per annum.
E A R N IN G S .— Included In the Brazilian T raction statem ent.
R O A D .— Operates 1 4 1 .1 m . o f track, all In city o f Sao Paulo; 359 passener and 92 freight cars. Passengers carried during 1916, 55,154,564. On
>ec. 31 1916 supplied 332,392 Incandescent lamps and 497 public arc lamps
and 40,491 h. p . In m otors, and had 30.251 light and powor consumers.
f
O F F IC E R S .— Chairman o f B oard, Sir W illiam M ackenzie; P res., Alex
ander M ackenzie; Sec., J. M . Smith, all o f T oron to; M g r., W . G . M cO on nel, Sao Paulo.— V . 94, p . 827, 1187, 1248, 1250, 1764; V. 95, p . 681.
(3) S a o P a u lo E le c tr ic C o ., L td .
O R G A N IZ A T IO N , & c.— Incorp. In 1910. Stock issued, $5,000,000,
Has acquired water powers and franchises for the utilization and sale o f
electric power through the State o f Sao Paulo.
STO CK A N D BONDS—
Date.
Interest. Outstanding.
Maturity.
Stock $10,000,000............................................................$5,000,000 .......................
First m tgo £2,000,000 (£ 5 0 0 ,/ 1912
5 J-J
£2,000,000 Jan 1 1962
£100, £20)-------------------------(.National Trust C o ., L td ., o f T oron to, trust.
Bonds.— Additional bonds m ay be issued at rate o f not exceeding $20,000
per mile additional road built.
E A R N IN G S . For calondar yoar, 1917, gross, $139,316: not, $10,921;
charges, $31,941; deficit, $21,019. In 1916, gross, $82,539; not, $5,047
charges, $32,554; deficit, $27,507.
R O A D .— Embraces 21.021 miles o f track from W innipeg to Headingly on
the north side o f Asslnibolne R iver and beyond tho C ity Park on the south
side o f river. V . 86, p. 1345.
(2) W in n ip e g S e lk irk & L ake W in n ip e g R y.
O R G A N IZ A T IO N .— Incorp. b y A ct o f M anitoba Legislature with
power to d o a steam or electric railway and a lighting and power business.
Controlled through ownersulp o f $490,000 o f its $500,000 stock by the
W innipeg Electric R y .
Franchises run to 1939 and 1942.
Has contract for power with W innipeg Elec. R y . running to M a y 31 1925.
Also has contracts with Selkirk to supply powor for municipal purposes and
with Stonewall to d o a general light and powor business.
BON DS—
Date.
Interest. Outstanding. Maturity.
Gen M & r e f bonds $1,400,000/ 1915
5 J-J
$1,000,000 July 1 1925
g ($100, $500, $1,000).c*& r(N a tion a l Trust C o ., L td ., T oron to, trustee.
Prior lien..................................................
5%
400,000
1933
$335,000 prior lien bonds have boon exchanged for G en. M . & R ef. bonds.
Bonds.— O f the bonds reported outstanding, $740,800 are plodged as col
lateral for loans to the W innipeg Electric R y . Remaining $400,000 Gen.
M . & R ef. bonds are reserved to retire tho underlying Issue. G uar., p. St L.
(end.) by the W innipeg Elec. R y . Sink, fund o f 2 % o f bonds outstanding
plus int. on bonds In fund will retire 25% o f Issue b y m aturity. Int. payable
at Bank o f M ontreal, W innipeg, T oron to, M ontreal, N ew Y ork and (In
sterling at par o f exchange) L ondon . R e d ., all or part, at 103 and Interest.
E A R N IN G S .— F or calondar yoar 1917, gross, $162,979: net, $51,597;
charges, $40,365; surplus, $11,231. In 1916, gross, $144,170; not, $55,001;
charges, $49,544; surplus, $5,457.
R O A D .— Operates a lino from W innipeg on west side o f R ed R iver to
Selkirk, 2 2 miles, witn a branch on private right o f way from M iddlochurch to 8tonewall, 17>* miles (placed In operation Jan. 1 1915), 32 cars.
V . 101, p. 924, 1466; V . 106. p. 2012.
M a y , 1918.]
ELECTRIC RAILWAYS
N E W
137
C O M P A N IE S .
T h e fo llo w in g fu rn ish e s a re feren ce to th e v o lu m e a n d p a g e o f th e “ C h r o n ic le ” w h ere in fo r m a tio n c a n b e fo u n d c o n c e r n
in g a n u m b e r o f c o m p a n ie s n o t re p re se n te d in th is issu e o f th e “ E le c tr ic R a ilw a y S e c tio n .”
T h e s e are o h ie fly e ith e r n e w ly
o rg a n ize d co m p a n ie s th e a ffa ir s o f w h ich h a v e n o t y e t a d v a n c e d s u ffic ie n tly fa r to w a rra n t th e p re s e n ta tio n o f a re g u la r
s ta te m e n t re g a rd in g t h e m , or else c o m p a n ie s fro m w h ich it h as n o t b e e n fo u n d p ossib le to seoure fu ll r e tu r n s .
A b e r d e e n (S o . D a k .) R R . V . 102, p . 152.
L im a*H on eoye F alls L ig h t & R R . V . 99. p . 1832: V . 102. p. 522.
A b ile n e (T ex.) S treet R y. V . 105. p. 2182.
L in c o ln (M l.) R y . & L ig h t C o . V_. 99. p . 407. 1748.
L ittle F alls (N . Y .) & J o h n s t o w n R R . V . 95. p . 111. 1123.
A lg ie rs R y . & L ig h tin g C o ., N ew O rlea n s, L a. V . 103, p . 238.
L o n d o n (C a n .) & P o rt S ta n le y R y. V. 101. p. 615.
A lto n & J a c k so n v ille R y . V . 101, p . 692; V . 105, p. 1800, 2454.
L oram ie & M in ster (O .) E le c tr ic R R . V . 97. p. 299.
A lto n J a c k so n v . & P eoria R y . V . 98. p . 1154. 1891; V. 99. p . 1831
A lto n & N o rth e rn R R . V . 98. p . 1691.
L os A n g e le s & S an D ie g o B e a ch R y . V . 105, p. 716, 1999.
A lto o n a (P a .) N o rth e rn R R . V. 97. p. 1114.
M a rtin e z (C a l.) & C o n co rd I n te ru r b a n R y . V . 103, p . 493, 844.
A rd m o re (O k la .) S treet R y . V . 102, p . 885, 1625; V . 103, p . 144.
M ed field & M edw ay S tre e t R y . V. 97. p . 443.
M en om in ee Se M a rin e tte L ig h t St T r a c . C o . V . 99. p . 120.
A tla n t a & C a r o lin a (E le c tr ic ) R y . v . 99, p. 118; V . 103, p. 319.
A tla n ta St M a con R y. V 95. p 296 618
M erid en M id d le to w n & G u ilfo r d (C o n n .) E le c tr ic R y . V . 104, p . 559.
B a h ia T ra m w a y , L ig h t & P ow er C o . V . 97. p. 1897; V . 104. p. 162.
M exican L ig h t & P o w e r. L td . V. 94, p . 1623; V . 99. p . 891.
B a rce lo n a T r a c ., L t. & P ow . C o ., L td . V. 105, p. 2180, 2454.
M exico (M o.) S a n ta Fe & P erry T r a c t io n . V . 96. p. 1229. 1489.
B eech G rove (In d .) T r a c t io n C o. V. 106, p. 188.
M exico T ra m w a ys C o . V . 103, p . 938, 1592, 2078; V . 105, p . 389.
B erw ick & N esco p e ck S tr e e t R y . V 98. p 761.
M id lan d V a lle y R R . V . 103, p . 1032; V . 105, p . 181.
B ig F o u r E lectric R v . (C a l.). V. 98. p. 1765
M ilw a u k e e W e ste rn E le c tr ic R y . V . 102, p . 886; V . 104, p . 1045.
M in n e a p o lis A n o k a & C a y u n a R a n g e R R . V . 101. p . 449.
B illin g s (M on t.) R a ilw a y , L ig h t & P ow er C o. V. 104, p. 2235.
B oise (Id a h o) R R ., L td . V. 105, p. 180, 715, 1801.
M in n e so ta C e n tra l R y . V. 99, p . 197.
B o sto n & E astern R R . V. 98, p 154.
M o n te re y (M ex.) R y .. L ig h t & P o w e r. V. 99, p. 604; V . 102, p. 437.
B ra n tfo rd (O n t.) S treet R v . V 98 o . 999
M o n tg o m e ry T r a n s it & L ig h t C o . V . 106, p. 86.
B risto l & N o rfo lk S treet R y . V . 103. p . 60; V . 105, p. 605.
M oose Jaw (S ask .) E lec. R y . V . 100, p. 228.
B ritish C olu m b ia E le c tr ic R y . V . 104, p . 558; V . 106, p. 1036.
M o r g a n to w n & W h e e lin g R y. V . 106, p. 1344, 2011.
M o u n ta in L ake E le ctric R R . V . 106, p . 1797.
B r u n s w ic k T erm in a l & R y. S ec. V . 100, p . 644; V. 106, p. 1796.
M o u n t V e rn o n (O .) E le ctric S t. R y . V . 104, p . 1489; V . 106, p . 86.
B rya n (T ex.) & C e n tra l I n t e r u r b a n R y . V. 100, p. 472.
C a ld w e ll (Id a h o ) T r a c t io n C o. V . 105, p . 908.
M u sca tin e (la .) & Iow a C ity R y . V . 101, p. 1714.
C a lifo r n ia E astern & N o rth e rn R R . V. 105. p . 290.
N ew ark & M arion R y . (N. Y .). V . 101. p. 370.
N ew B ru n sw ick P o w e r C o . V . 104, p . 952.
C am a gu ey (C u b a ) C o ., L td . V. 102. p. 152; V. 103, p. 144.
N ew O rle a n s & G r a n d Isle T r a c t io n , L ig h t S t P o w e r . V . 95, p. 618,
C a r o lin a T r a c t io n C o. (R o c k H ill, S. C .). V . 106, p. 394.
New Y o r k & N o rth Jersey R a p id T r a n s it C o . V . 95. p . 298.
C assville & W estern R y. V. 95, p. 235.
C a tsk ill (N. Y .) T r a c t io n C o. V. 92, p. 955; V . 105, p. 1522, 2093.
New Y o rk W e stch e ste r & C o n n e c t ic u t T r a c t io n C o . V . 98. p . 1761.
N orth A la b a m a T r a c t io n C o . V . 100. p . 309.
C e n tre & C lea rfield S t. R y ., P h illp s b u r g , P a. V . 105, p. 1998.
N o rth B ra n ch T r a n s it C o . V . 101. p . 1371. 1718.
C h e b o y g a n , M ich ., E le c tr ic L ig h t St P ow er C o . V . 95. p . 1683.
C h ic a g o Fox L ake & L ake G en ev a R R . V . 95. p . 1402
N o rth u m b e rla n d C o u n t y T r a c t io n C o . V . 105, p. 2185; V . 106, p . 396.
C h illic o t h e (O h io ) E lec. R R ., L t. & P ow er C o. V . 103, p . 1031.
N o rto n T a u n t o n & A ttle b o r o S tre e t R y. V . 105, p. 290, 2366.
C ity E le c tr ic C o ., A lb u q u e r q u e . N . M. V . 101, p . 2071.
N o rw o o d C a n to n & S h a ro n S t. R y . V . 99, p. 1675; V . 105, p . 1898.
C la rk sv ille (T e n n .) & D u n b a r C ave R y . V . 101. p. 1972.
O g d e n s b u r g (N . Y .) S tre e t R y . V. 103, p . 494.
C le b u r n e T r a c t io n C o . V. 100, p. 229. 900. 1672; V . 102, p. 975.
O h io S e rvice C o . V . 99. p . 1533; V . 103, p . 2341; V . 105, p . 607. 2273
C le v e la n d I n te ru r b a n R R . V . 99. p . 406
O k la h o m a U n io n R a ilw a y . V . 104. p . 864.
C lev elan d & O h io C en tra l E le ctric R y
V 101. p . 369. 448. 614.
O r lc a n s -K e n n e r T r a c t io n C o . V . 106, p . 1462.
C lev ela n d (O .) R a p id T r a n . R y . V 99 p. 1528. 1832. 1909.
P a r k e r s b u r g (W . V a.) & O h io V alley E lec. R y . V . 105, p. 2094;
C le v e la n d & S h a ro n R a p id T r a n s it C o . V . 103, p . 2340.
V. 106, p. 608.
C lev ela n d & Y o u n g s t o w n R R . V . 103. p . 144; V . 105, p . 1418
P elh a m P ark R y . V . 93. p. 1669; V . 95. p . 48.
C o lu m b ia & M o n to u r E le c tr ic R y . V . 101, p . 1370; V . 105. p . 606.
P e n n Y a n & L ake S h o re R y . V. 99, p . 49; V . 105, p . 1420.
C o lu m b u s K e n to n & T o le d o T r a c t io n C o. V . 95, p. 297.
P h o e n ix ville V alley F orge & S tr a ffo rd E le ctric R y. V. 101, p . 1014.
C o lu m b u s U rb a n a & W estern R y . V. 98, p. 386: V . 99. p . 1214.
P ie d m o n t R a ilw a y & E le c tr ic . V. 105, p . 2185.
C o rp u s C h ris t! S treet & In te ru r b a n R y . V . 98. p. 1071.
P ly m o u t h (M ass.) & S a n d w ich S t. R y . V . 96, p. 1490; V . 106, p . 1901.
C re sto n (la .) W ln te rs e t & Des M oin es R R
V . 95. p . 1607.
P o r t la n d St O r e g o n C ity R y . V . 101. p. 2072: V . 104. p . 257.
D a llas N o rth w estern T r a c t io n C o. V . 105, p . 1522.
P o t ts t o w n & P h o e n ix v ille R y . V . 101, p. 924; V . 105, p . 1105; V . 106,
D a llas S o u th w e s te r n T r a c t io n C o. V . 105, p. 1419, 1522, 1617.
p . 500.
D a n v ille (V a.) T r a c . & P ow er C o. V . 95, p . 749
P u b lic S e rv ice C o . o f O k la h o m a . V . 96, p . 1773.
D ed h am (M ass.) & F ra n k lin S t. R y . V 98. p. 1608.
P u e b la T ra m w a y . L t. & P o w . C o . V . 95. p. 1473. 1684.
D e la w a re & M arylan d T r a c t io n S e cu ritie s C o . V 104, p. 2451.
R a ilw a y & L ig h t S e cu ritie s C o . (B o s t o n ). V . 105, p . 47; V . 106, p . 500.
D e lta L ig h t St T r a c t io n C o . V . 98. p. 1844.
R ic h m o n d (V a.) .& R a p p a h a n n o c k R iv er R y . V. 106, p . 191.
D em erara E lectric C o ., L td .. H a lifa x. V . 101. p. 212, 923.
R ic h m o n d (V a.) & Seven P in es R y . V . 106, p. 191.
D e t r o it P o n t ia c St O w o ss o R y . V . 101. p. 1370.
R o ch e s te r -C o r n in g -E lm ir a T r a c . C o . V . 95, p. 176; V . 97, p . 1427.
D ixon (III.) R o c k Falls St S o u th w e s te r n R y . V 97. p. 298.
S a c ra m e n to V alley E le c tr ic R R . V . 95. p. 680.
D o m in io n T r a c t io n & L tg. C o ., L td ., T o r o n t o . V . 100, p . 1751. 1917.
S t. F ra n c o is C o u n t y R y ., F a rm in g to n , M o. V . 91. d . 519: V . 95, p . 237.
E astern T exas T r a c t io n C o . V. 96. o . 359. 1422.
S t. J o h n (N . B.) R y . V . 102, p . 1061: V . 104, p . 560, 864, 953.
E ie ctrlc P ro p e rtie s C o rp . (N . Y .) V 98. p . 626.
S t. L o u is E ast S id e B elt L in e T e rm in a l R y . V . 103, p. 939.
E le ctric S h o rt L in e R y ., M in n e a p o lis, V. 100. p . 1832
S t. L o u is , L a k e w o o d & G r a n t P ark E le c tr ic R y. V . 106, p. 1901.
E p h ra ta St L e b a n o n S t. R y . V. 97. p . 1583. 1732: V . 99. p . 608.
S t. P a u l S o u t h e r n E le c tr ic R y. V . 105, p . 1420, 1523; V . 106, p . 1231.
Erie C a m b rid g e U n ion & C o rry R y . V . 97. p . 1583.
S t. T a m m a n y & New O rleans R ys. St Ferry C o. V. 101. p. 775.
Erie St C en tra l P e n n sy lv a n ia R y . V . 96. p . 1156, 1228; V . 97. p . 1733
S an D ie g o & S o u th e a s te rn R y . V . 105, p. 2095; V . 106, p . 397, 1231.
Erie S o u th e r n R y . V. 97. p. 1583.
S an J o s e T e rm in a l R y . V. 94. p. 1120; V . 95. p . 1208, 1333.
F a y e tte v ille (N . C .) L ig h t & P ow er C o . V . 97. p . 1822.
S a n tia g o ( C u b a ) E lec. L t. & T r a c . C o . V . 98, P. 1157; V . 106, p . 1037.
F o rt S c o t t St N evada L t ., H t., W . St P. C o . V . 95. p . 820.
S a p u lp a (O k la .) & In te r u r b a n R y . V . 103, p . 1033; V . 104. p . 164.
F o rt W ay n e & N o rth w e s te rn R y . V . 98. p. 1228; V . 98. p. 622, 911.
S h a ro n (M ass.) C a n to n & N o rw o o d S tr e e t R y . V . 105, p . 2095.
F re sn o H a n ford St S u m m it L ake I n t e r u r b a n .
V . 97, p . 1426:
S io u x C it y ( l a .) C rysta l Lake & H om e E le c tr ic R y . V . 106, p . 1578.
V . 98. p . 155
S o u t h e a s t e r n O h io R y . (Z a n e s v ille , O .). V. 102, p . 252.
F re sn o I n te ru r b a n R y . V . 102. p . 251, 1540. 1625: V . 103. p . 665.
S o u th e r n Illin o is St S t. L o u is R y . V . 98, p . 388.
F ro n tie r E le ctric R y ., B u ffa lo , N. Y . V . 104, p. 361; V . 106, p . 1344, S o u th e r n O re g o n T r a c tio n C o .. M e d fo rd , O re. V . 101. p . 214.
S o u t h e r n T r a c t io n C o . (B o w lin g G r e e n , K y .). V . 106, p . 297.
G a ry & H o b a r t T r a c t io n C o . V . 104. p . 1701.
S o u t h e r n T r a c t io n C o . o f I llin o is . V . 99. p. 1452: V . 103, p . 939.
G a ry & S o u th e r n T r a c t io n C o . V . 104, p . 1387.
S o u th e r n T r a c . & P ow . C o .. A le x a n d ria , La. V. 101. p . 214.
G e a ry S treet Park & O cea n R R . V 98. p. 1920.
S o u t h S h o re (L . I.) T r a c . C o . V . 97, p . 445; V . 105, p . 1803, 2185.
G le n d a le (C al.) & M o n trose R y . V . 103. p . 578.
S p rin g fie ld & C e n tra l Illin o is T r a c t io n C o . V . 96. p . 1425.
G o ld s b o r o (N . C .) T r a c t io n C o . V. 97. p. 237 521, 728.
S t o c k t o n T e rm in a l & E astern R R . V . 101. p . 1372; V . 103. p . 1888.
H o ck ln g -S u n d a y C reek T r a c t io n . V . 97. p 1428; V . 99. p . 608.
S u n b u r y St S u s q u e h a n n a R y . V. 97, p . 1824: V . 102. d . 252
H o rn cll (N. Y .) T r a c t io n C o. V. 105, p . 1309. 2272.
' T it u s v ille (P a .) T r a c t io n C o. V . 99, p . 271, 1911: V . 106, p. 716.
H o u s to n & T exa s C e n tra l R R . V . 97, p. 1203
T o r o n t o S u b u r b a n R y . V. 93, p. 409. 1192; V . 100, p . 399.
In d e p e n d e n c e N eod esh a & T o p e k a R y . V . 97. p. 299,
T r a n s S t, M a ry 's T r a c t io n C o .. M ich . V . 104. p . 1146.
I n d ia n a p o lis C h ic a g o & M erid ian R y . V . 95 p .4 8 0
T r e n t o n (N . J .) L a k e w o o d & S e a c o a s t R y . V . 106, p . 1345, 1462.
In te rm o u n ta in R y ., L ig h t & P ow er C o. (o f C o lo .). V . 105, p . 1617.
T r in id a d E le c tr ic C o ., L td ., P o rt o f S p a in , B. W . I. V . 106, p . 1462.
I n te r n a tio n a l T r a n s it C o. V . 93, p. 589: V. 98. d . 1844.
T w in C ity L ig h t & T r a c t io n C o . V. 99, p . 468; V. 100. p. 1598.
I n te r-S ta te P u b lic Serv. C o. V. 96. p. 1157, 1701; V . 106, p. 1901.
T w in F alls (I d a h o ) R y . V. 95. p. 681. 1404.
Irw in -H e r m in le (P a .) T r a c . C o . V . 95. p 1745
T y le r C ity (T e x .) L ig h t St R y . V . 97. p. 445.
J a m estow n W estfield & N orth w es tern R R . V. 100. p. 2167.
U n d e rg ro u n d E lec. R ys. o f L o n d o n , L td . V . 106, p . 1037, 1231, 1689.
K a n k a k ee U rb a n a T r a c t io n C o . V . 99, p. 467; V . 105. p. 1104.
W a s h in g to n E le ctric R y . V. 96, p. 555; V . 106, p . 1902.
L a co m b e & B lln d m a n V a lley E lec. R y . V . 99, p. 1597: V . 104. p . 2235.
W a s h in g to n & G r e a t F ails R y . St P ow er C o . V . 96. p . 489.
L ake Erie B ow lin g G reen & N a p oleon E lec. R y . V . 103, p. 1032, 1888; W a s h in g to n S p a S p r in g s St u r e t t a R R . V. 101. p . 1808.
V. 106, p. 396.
„
W a s h in g t o n , W e stm in ste r & G e t t y s b u r g R R . V . 95, p . 177.
L ake E rie & E astern R y. V . 105, p. 2184; V . 106, p. 2011.
W a u k e g a n R o c k fo r d St E lgin T r a c . C o .
V . 99, 1216; V . 106,
L ake Erie & N o rth ern R y. V . 99. p. 1451, 1910; V. 105, p . 1898.
p. 2012.
L a k e Erie & Y o u n g s to w n R y . V . 96. p.285: V . 97. p 443.
W a y cro s s (G a .) S tre e t & S u b u rb a n R y . V . 104, p . 2453; V . 105, p.1803.
L a n ca s te r & S o u th e r n S treet R y . V. 103. p. 320. 666
W ic h it a -W a ln u t V a lle y (K a n .) In te r u r b . R y . V. 106, p . 823.
L e w ls to n -C la rk s to n T ra n s it C o. V. 100. p. 1438.
W llla p a E le c tr ic C o . V . 97. P. 1435.
L lm a -H o n e o y o E le c tr ic L ig h t & R R . V . 100. p . 2167; V . 101. p. 2145.
W is c o n s in I n te ru r b a n R y . V . 105, p . 182, 717.
GEN ERAL
Page.
bordoon (So. Dak.) R R — --------------------- 137
bileno (Texas) Street R y...............................137
Adamstown & Mohnsville Electric R y.— See
Roadlng Transit & Light C o--------------------- 109
Akron Wadsworth & Western R y.— Seo North.
Ohio Tract. & Light C o----------------------------- 21
Alabama City Gadsden & Attalla St. R y _____45
Alabama Trac., Lt. & P.— Seo “ Railway &
Industrial” 8oction.
Alameda Oak Park & Pied. El.— Seo San Fran.
Oakland Terminal Rys------------------------------- 88
Albany Ry.— See United Traction (A lb a n y ).. 2
Albany Southern R R ------------------------------------ 3
Albta Light & Railway______________________
3
Aifr. Lt. & Powor Co.— Soo Atl. Sh. R y ______ 57
Algiers Ry. & Ltg. Co.. New Orleans------------ 137
Alloghony & Bellovuo— See Fed. St. & PI. V ..10 1
Allegheny Bello. & Porrysvllle R y ..................... 101
Alloghony Co. Lt. Co.— Soo Duquosno Lt. C o . 102
Alloghony St.— Soo Federal St. & Pleas. VaL.101
Allegheny Traction----------------------------------------102
Allegheny Valloy Stroot lty.— Seo West Penn
Railways------------------------- - - - - - - - - ---------103
Allentown Bridgo C o.— See Leh. Val. Tran.Co. 3
Allentown El. L. & P.— Seo Leh. Val. Tran___ 3
Allentown & Roadlng Traction C o................... 4
Allentown & Slatington— Seo Lehigh Valley
T r a n _ _________________________________ 3
_
Allontown Bridgo C o.— Soo Lehigh Val. T r.C o. 3
Alllanco Electric R y.— See Stark Elec. R R ___ 4
Alton Granite & St. L. Trac. C o.— Soo East St.
Louis & Suburban C o------- --------41
Alton Jacksonville & Peoria_________________ 137
Alton & Jacksonville R y ........... ................
137
Alton & Nor thorn R R _____________
137
A
IN D E X .
.„
Page
Alton R y . Gas & E ioc. L t.— See East St. Louis
& Suburban C o _____________________________ 41
Alton R y. & 111.— Seo E . St. Louis & Sub. C o . 41
Altoona & Logan Valloy Electric R y _______ 93
Altoona Northern R R _________________________ 137
American Cities C o ............................... : . ............. 77
American Railways C o ________________________ 92
Amosbury & H am pton— Soo N . H am. E l. R y . 51
Anacostla & P otom ac R iver R R .— See Wash.
R y . & E lectric_______________________________ 127
Anderson W ater, Light & Power C o .— See
Southern Public Utilities C o _________________ 24
Androscoggin E loctric C o _____________________ 106
Anniston E loctric & Gas C o .................................. 5
Annapolis Public Utilities C o .— See W ash.
B aft. & Annapolis___________________________ 128
Ardmore (Okla.) Street R y ...................................137
Ardm ore Street R y .................................................... 102
Arkansas Valley Interurban R y _______________ 129
Arkansas Valloy R y . Light & P ow . C o _______108
Asbury Park & Sea Girt R R .— Soe A tlantic
Coast Eloctric R y __________________________ 6
Ashaway & W esterly R y . C o .— Soo Shore Line
Electric R y _____________________
88
Asheville Eloctric C o .— Seo Asheville P ow . &
. Light C o ................................................................. 108
Asheville Powor & Light C o ___________________ 108
Ashland (W is.) Light, Power & Stroet R y .—
Soe Ironw ood & Bossomor R y . & L t. C o ____ 64
Ashtabula Rapid T ransit_____________________ 5
Atchison R y ., Light & Pow or_________________ 21
Athens Railway & E lectrlc'C o_________________ 86
Athol & Orango St. R y .— See N orthorn M ass.
Street R y ...................
50
Atlanta & Carolina R y _______________________ 137
Page
Atlanta C onsol. St. R R .— See G a . R y . & E l__ 6
Atlanta Gas Light C o ________________________
6
Atlanta & M acon R y _________________________ 137
Atlanta Northern R y .— See G a. R y . & El. C o . 6
Atlanta St. R R .— See G a. R y . & E lec. C o ____ 6
Atlanta W ater & E lec. Pow . C o .— See G a. R y .
& Power C o _________________________________ 6
Atlantic A ve. R R .— See B klyn. R apid T r a n .. 13
Atlantic C ity & Ocean C ity C o .— See A tlantic
C ity & Shore C o ____________________________
6
Atlantic C ity & Ocean C ity R R .— See Atlantic
C ity & Ocean C ity C o _____________________ 6
Atlantic C ity & Shore C o _____________________ 6
Atlantic C ity & Shore R R .— See A tlantic C ity
& Shore C o _________________________________ 6
Atlantic & Suburban R y .— See A tlantic C ity &
Shore C o ___________________________________
6
Atlantic Coast Electric R y ____________________ 6
Atlantic C oast E lec. L t. C o .— See A tlantic
Coast E lectric R y ___________________________ 6
Atlantic Shore Line R y .— Soo A tl. Shore R y__ 57
Atlantic Shore R y _____________________________ 57
Auburn & Northern E lec. R R .— See Empire
State Railroad C orporation________________ 124
Auburn & Syracuse Electric R R ______________ 125
Aug. & Aiken R y .— See Augusta-Aiken R y .
& E lectric_______________________________ ____ 6
Augusta-Aiken R y . & E lec. C o ________________ 6
Augusta (M e.) H allowell & Gardiner R R .—
See Lewiston Augusta &W aterv______
106
Augusta (G a.) R y . & E lec. C o .— See Augusta
Aiken R y . & E lec___________________________ 6
Augusta W lnthrop & Gardiner R y .— See
Lewiston Augusta & W atcrvllle St. R y ____ 106
Aurora Elgin & C hicago___________________ _ 25
Page.
Aurora Plainfiold & Joliet R y ________________ 55
Austin (Texas) Street R y _______ _________ _
0
Page.
Bryan (Tex.) & Central Inter. R y ____________ 137
Bucks C ounty Interurban R y .— See Penn
sylvania-N ew Jersey R y ____________________87
B uffalo Bellevue Sc Lancaster R y .— See Inter
national Traction___________________________ 18
B uffalo & Depew R y _________________________ 18
B uffalo Dunkirk & Western R R .— Soo Buffalo
& Lako Erie Traction C o ___________________ 17
Buffalo Gardenvillo Sc Ebenezor R y .— Soe
B uffalo Southern R y _______________________ 18
B uffalo Ham. & A u r.R y .— Soe B uff.South R y . 18
B uffalo Sc Lackawanna Traction C o _____________18
B uffalo & Lake Erie Traction C o _____________ 17
B uffalo Lockport & Rochester R y _____________ 111
B uffalo & Lockport St. R y .— Soe Inter. T ra c. 18
B uffalo & Niagara Falls Electric R y .— See In
ternational Traction________________________ 18
B uffalo R y .— Soe International T raction_____ 18
B uffalo Southern R y . . _____ __________________ 18
B uffalo Tonawanda Sc Niagara F
’alls Electric
R R .— Seo International T raction ___________ 18
B uffalo Traction.— See International Traction 18
Buffalo A W illiamsville Eloctrlc I t y ._ .
18
Burlington Elec. Lt. Sc P ow _______ __
70
Burlington C ounty R y .— Seo Burl. C o T r a n .. 68
Burlington C ounty Transit C o ________________ 68
Burlington Gas Light C o .— See South Jersey
Gas, E lectric A /T ractlon C o ________________ 71
Burlington (Iowa) R y. Sc Light C o ____________ 19
Burlington (V t.) T r a c t io n .._____ _____________ 19
Butler Railways C o ___________________________ 19
Butte-Eloctric R y _____________________________ 19
Chicago Fox Lake A Lake Geneva_________
137
Chicago A Interurban Traction_
_
20
Chicago A Joliet Elec. R R ____
92
R a d o n & St. L . R R .— See United R ys. C o . -.1 1 4
Chicago Junction R R _____________ ”
28
'-•ahia Tram w ay, Light A Power C o _________ 137
Chicago Lake Shore A South Bend Ry.Z
66
Bakersfield & Kern E lec. R y .— Soe San
Chicago North Shore A Milwaukee RR ... Z Z . 2 0
Joaquin L t. A P ow . C orp __________________ 44
_
28
Chicago A Oak Park Elevated R y_
Baltimore & Annapolis Short Line— Soe M a ry
Chicago Ottawa A Peoria R y_______ Z.ZZ
land Electric R y s___________________________ 7
20
Chicago Railways C o______
Baltimore Catonsville A E llicott's M ills Pass.
Chicago South Bend A Northern" Indiana RyZZl 2 2
R R .— Soe United R ys. A Elec. C o ______ __ 7
Chicago Surface lines______
25
Baitim ore.Halothorpe A Elkridgo R y _________ 7
Chicago Union Traction— See dhlc.'RysZ'doZ" 26
Baltimore & Northern Electric R y .— See
Chicago A West Towns R y_ __
_
27
7
United R ys. & E lec. C o ___________________
West.— See Chic. City A ConZRysZ 26
B alt. Sparrows Point & Chesapeako R y _ . _
7
Ghillicothe Electric R R . Lt. A Pow. Co
137
Baltimore Torm . C o.— See Wash. Balt. A A n n .128
Chippewa Vail. Ry. Lt. A Pow.— See Wisco'nBaltimore Traction— See United R ys. & Eloc.
7
sin-Minn. Lt. A Pow. Co . .
58
Baltimore & Washington Transit— See W ash
Choctaw Power A Light C o_____ZZZZ..ZZZZ
63
ington Sc M aryland R y ____________________ 128
Christiana A Coatesvllle Stroet” ity".— See
115
Bamberger Electric R R __________
Lancaster Co. Ry. A Lt. Co _
59
Bangor Power C o.— See Bangor R y . & E l____ 7
78
Christopher A Tenth Sts. R R _____ ZZZZZ
7
Bangor R y . & Electric C o ___________ . . .
Cincinnati A Columbus Traction C o .
28
Barcelona Traction, Light A Power C o ______ 137
Cincinnati Covington A Erlanger.— Soo" Cin
Bar Harbor E l. L t. C o.— See Bangor R y . A E l. 7
cinnati Newport A Covington.
35
Bar Harbor & Union River Power C o .— See
Cincinnati A bayton Trac. Co.— See’ clnclnBangor R y. A E l. C o _______________________
7
nati Dayton A Toledo Traction C o____
34
Barre A M ontpelier T rac. A Pow .— See M on t
Cincinnati A Dayton Traction Co
34
pelier & Barre Light A Power_______________ 8
Cincinnati Georgetown A Portsmouth R R
29
Bartlesville (Okla.) Interurban R y ____________ 86
Cincinnati A Hamilton Traction C o .
30
Bath St. R y .— See Lewiston A ug. & W aterv__106
O n. A Ham. Tract. Co.— See Ohio Trac't.OoZ 29
Baton Rouge Electric C o _____________________ 8
Cincinnati Lawrencoburg A Aur. Eloc. St. R R . 29
B ay C ity Gas C o.— See Michigan Light C o ___47
Cincinnati Milford A Loveland Traction
29
Bay Counties P ow erC o.— See P acific Gas Sc
Cincinnati
A Covington Lt.ATr.'CoZZ 3 5
Electric C o _________________________________ 117 C a d illa c Gas L t. C o.— See United L t. Sc R y s . 47 Cincinnati Newport y ________
Street R
00
Bay State Street R y _________________________ 11
'adlllac Water & Light C o.— See Consumers
Cincinnati Traction d o . .
09
Beaumont T rac. C o.— See Eastern T ex. E lec. 8
Power C o _____________
_
47
Beaver Valley T raction_____________ __ _
102 Cairo E lec. Sc T ra c.— See Cairo R y . Sc LightZZ 21 Oln.A Westw’d R R .— See In(LA GlnZTrac.CoZ 5 4
Light
Beech Grove (In d .) Traction C o ______________ 137 Cairo R y. & Lt. C o _____________________________ 21 Clnnamlnson Elec.J_____ Power A Heating C o . 71
of Riverton N.
Bellalre South Western T rac. C o.— See Wheel
C airo & S t. L . R y ____________________________ 22
ing T raction________________________________103 Calais (M o.) Streot Railw ay__________________ 19 Cities Service C o__________ ZZZZZZZZZZZZZZZ" 83
Citizens’ Electric Co.— See Somerset "Union "A
Belt Line R y . C orp.— See Third A ve. R y ____ 79
Caldwell (Idaho) T raction C o ________________ 137
Middlesex Lighting C o_
_
71
Ben A von & Emsworth St. R y _______________101
California Central Gas Sc Eloctrlc C o .— See
Citizens' Elec. Light. Heat A PowerZZZZ
70
Benton H arbor-St. Joe R y . Sc Lighting________ 8
Pacific Gas & Eloctrlc C orporation_________ 117
y.— See New Hamp. El. Rys 61
Bergen Turnpike C o ___________________
72 California Eastern & N orthern R R ____________137 Citlzensj El. St. RElec. Co.— See Union Ry
Citizens’ Gas A
Berkely E lec. L tg.— See Pacific Gas & E lec
117 California Gas Sc Electric Corporation.— Seo
Gas A Elec. C o________________________ _ ’ j «
Berkshire Streot R y _____________________•
_____ 75
Pacific Gas & Electric C o _____
117 Citizens!
Ry.— See Harrisburg "itysZIZZ
Berwick A N oscopeck Streot R y _______________ 137 California Pacific R y .— Soe Pac. Elec. R y . . ” 61 Citizens Pass. Ry., Norristown— Soo Schuyl 51
Pass.
Both. & Nazareth— See Leh. Val. Transit_____
3 California R y .— See San Fran.-Oak. T erm . R y 88
kill Valley Traction________
inq
B everly & Danvers— See Bay State St. R y ____ 11
California R y . A Pow er_________________
118 Citizens’ Pass. Ry. (Phila.)
on
Blddoford A Saco R ailroad___________________
8 California Street C a b l e ..______________
118 Citizens; Ry. A L t.C o.— SooTrl-Oity RyZALtZ 4 9
Big Four Elec. R y _____________________________ 137 Calum et Elec. St. R y .— See Cal. Sc So. C h ic___26
Billings (M on t.) R y .. Light Sc Power C o ____ 137 Calum et & South Chicago R y ____________ ___ 26 Citizens Ry., L. A P. Co.— Seo Nowp. Nows 51
A Hamp. Ry., G. A E. Co______
Biloxi El. R y . & Power C o.— See G ulfport Sc
137 Citizens’ Streot Ry. (Indianapolis, Ind.)— Soe
Cam aguey (Cuba) C o .. L td ________________
M iss. Coast T ract. C o _______________________ 50 Cam den Gloucester Sc W oodbury R y ___
73
Indianapolis Street R y____________
53
Binghamton Lest. Sc Union— See Bing. R y ____ 8 Cam den Horse R R .— See Cam den Sc Suburban 72 Citizens; Street R R .— Seo MomphlsStrootRyZ 65
Binghamton Railway C o ______________________ 8 Cam den Inter-State R y .— See Ohio V al.E I.R y 94 Citizens Streot Ry. (Munclo. Ind.)— See
B lrdsboro St. R y .— See Reading T r. Sc Lt. C o . 109 Cam den Sc Suburban R y _________________
72
Union Traction of Indiana___
4
Birmingham Ensley & Bessemer R y .— See
Canadian Lt. Sc P ow ____________
133 Citizens’ T ra ction ______ _
ino
Birmingham Tidewater R y . C o ___________
9 Canal Sc Claiborne R R .— See N . O. R y . Sc L t.Z 75
Citizens' Traction Co., Oil OltyZZZZZZZZZZ
89
Birmingham Itnoxvillo & Allentown T rac
Canandaigua E l. L t.A R R .— S o e N .Y .S t . R y s .I l l City Electric Co., Albuquerque, N. m " " "
137
tion— Soe Plttsb. & Birmingham T r ________ 101
Canarsje R R . C o .— See N . Y . Consol. R R ____ 17
City Electric Ry. (Port Huron, Mlch.")Z.Z.Soe
Birmingham Railway & Electric— See Bir
O anton-Akron Cons. R y _________
2
Detroit & Port Huron Shore Lino
39
mingham R y . L t. & Pow er_________________
9 Oanton-Akron R y .— See O an.-A kr.’ donsZ ItyZ 2
City Electric Ry. (Romo. Ga.)— Soe "Romo
9 Oanton-M assillon Electric R y .— See C antonBirmingham R y. L t. A Pow er____________ __
Ry. A Light C o____________
112
Blrm lngham -Tidewater R y . C o _______________ 9
Akron Cons. R y ____________________________ 2 City A Elm Grovo RR. Co.— See Wost Virginia
Bleecker St. A Fulton Ferry R R ______________ 78 C anton-N ew Philadelphia R y .— See Oantom
Traction A Eloctrlc C o.................... . . . . “. 1 1 0
B loom field Street— See Plttsb. T rac. System . 102
Akron Cons. R y __________________________
2 City Gas Co.— See Norfolk Ry. A Light."".
Ill
Bloom ington Decatur & Champaign R R ______ 21 Cape Breton Electric C o _________ .
135 City Light A Trac. d o . (Sodalia, M o.)
86
Bloom ington Sc N orm al R y . El. A Heating C o.
Cape M a y Del Bay Sc Sewell’s Point R R . . . Z Z 19 City Railway (Dayton, Ohio) .
30
— See B loom . A N orm . R y . & L t___________ 21
Capital T raction_____________________
_ 128 City Ry. of Los Ang.— Soo Los Ang. RyZdorpZ 62
Bloom ington S Norm al R y. A Lt. C o _________21
c
Carbondale R y .— See Scranton R y ____ ZZZ.ZZ 93 City A Suburban Gas Co.— Soe West Va. Trac
Bloom ington Pontiac & Joliet Elec. R y _______ 55
Carbon Transit C o ___________________________ 05
A Electric C o__________
"1 1 9
Blue Grass T rac. C o .— See K y . T rac. Sc T erm . 60 Carolina Power & Light C o _____________ ZZZZ- 108 City A Suburban—Soe United"Railways" A
Blue Hill Street R y ____________________________ 19 Carolina Traction C o. (R ock Hill, S. O .)___137
Electric Co. of Baltimore _
7
Blue Ridge Eloc. C o.— See Georgia R y . & Pow . 6 Cascade E l. L t. & Power C o .— See T w in State
City & Suburban Ry.— 8oePort.Ry".7LlAP'owZl()0
B luffton Geneva & Oelina T rac. C o ____
9
Gas & E lectric C o ___________________________ 12 City A Suburban Ry.— Soo Wash. Ry. A El 127
Boise (Idaho) R y . R R ., L td _________________ 137 Cascade (Light & Power C o .— See Twin State
Clalrton Streot Ry_________
""103
Boise Valley Traction C o__________ ____ ____ _ 9
Gas & E lectric C o _________________
12 Claremont (N. H.) Ry. A Llghtlng"d 6 Z Z Z Z "'"ll 0
Bordentown Electric C o _______________________ 70 Cass A ve. Sc Fair Gr. R y .— See United R ys. C o 114 Claremont (N. It.) Powor____
no
Boston A Chelsea R R _______________
11 Cassvillo Sc Western R y ______________
137 Clarksville (Tenn.) A Dunbar O avoR y
137
Boston & Eastern R R ___________________ _ . I I l 3 7 Catharine Sc Balnbridge Sts. R y _ _ ___________ Z 90 Oleburno Traction C o___________ ____~~
jo 7
Boston Elevated R y ______________________I.Z Z 9 Catskill (N . Y .) Traction C o _________________ 137 Cleveland Berea Elyria A Oborlln Ry'.— See
Boston MU. Sc B rock.— See Old C olony S t.R y". n
Cayuga Lake El. R y .— See Ithaca T r a c t i o n ... 64
Cleveland Southwestern A Columbus
30
B os. & N or. St. R y .— Soe B ay State St. R y ___11
Cedar Rapids Sc Iowa C ity R y . Sc Light C o .—
Cleveland A Chagrin Falls R y_______ Z
31
Boston & Rovero E lectric_____________________ 12
See Iowa R y. Sc Light C o ___________________ 19
Cleveland A Eastern T raction..
31
Boston Suburban Electric Companies__________ 10 Cedar Rapids Sc M arlon C ity R y _______________ 49 Cleveland A Elyria R R .— Soe Cleveland S'o'uth'Boston & W orcester Electric Companies________ 12 Central Arkansas R y . & Light C orp.— See
western A Columbus R R ______
30
Boston & W orcester Street R y . . .
12
Federal Light Sc Traction C o _________________ 82 Cleveland Electric R y.— Soo Cleveland "ity"’ " 3 0
Boyerstow n & Pottstow n St. R y .— See R ead
Central California Electric C o .— See P acific
Cleveland Elyria A Western— See Cleveland
ing Transit Sc Light C o _____________________ 109
Gas & Electric C o ___________________________ 117
Southwestern A Columbus Ry .
.30
Braintree & W eym outh St. R y .— See So. Shore
Central California T raction C o ______ ZZZZZZ 124 Cleveland A Erio Ry. C o________
45
& B ost. Street R y ___________________ . _
11 Central Crosstown R R _________________ Z ..Z Z " 78 Cleveland Interurban R R _
_
137
Braintree St. R y .— See Old C olony St. R y ____ 11
Central E lectric C o .— See Somerset Union Sc
Cleveland A Ohio Contral Electric "Ry
137
Brantford Sc Hamilton R y .— See D om . P Sc
M iddlesex Lighting C o ___________
71
31
Transm . C o _________________________________ 132 Central Elec- R y .— See Sac. E lec. O . Sc R y .Z Z l l 7 Cleveland Palnosville A Ashtabula RR
Cleveland Palnosville A Eastorn RR..ZZZZZZ 31
Brantford Street R y ___________________ ZZZZ 137 Central Georgia Power C o ___________
63 Cleveland Railway Company_______ ZZZZZ"" 30
B rattleboro Gas Light C o.— See Tw in State
Central 111. L t. C o .— See Union R y . G . Sc E .O o 46 Cleveland Rapid Transit Ky________ __ZZZZ 137
Gas & Eloctrlc C o ________________________
12 Central Illinois Public Service C o _____ __
65 Cleveland A Sharon Rapid Transit d o Z
137
Brazilian Traction. Light & Power_______
” 135 Central K entucky T rac. C o .— See K entucky
Cleveland A Southwestern Traction Go.— See
Bridge Operating C o.— S eoB klyn. R .T r . C o . . 13
T rac. Sc Term . C o ____________
60
Cleveland Southwestern A Col. Ry _
30
Bridgeport (C onn.) T rac.— See C onn. R y . &
Central M arkot St. R y .— See C ol. R y.'pZ A L tZ 32 Cleveland
Columbus
30
Light C o ________________________ .
74 Central Mississippi Valley Electric P roperties. 67 Cleveland Southwestern A R R ______ IlyZZ
A Youngstown
”
137
Bridgeton Electric— See American R vs. GoZ
Central New York Southern R R . C orp.— See
Clinton Stroet R y ___________ ____ .
( P h ila .).................................................................. 92
IthacaTraction C o rp o ra tio n ____
54 Coal Belt Electric Railway Co__~Z
nc
Bridgeton Sc M ilv . T r .— See A m . R ys. C o ____ 92
Central Park N orth A East River RRZ— See
Coal Castlo Electric Ry.— Soe E. PonnZ'R ys"'l 0 7
Bridgewater Whitman Sc Rockland St. R y .—
Belt Line R y . C orp ..................................
79 Coast Counties Gas A Eloc. Co__
” 120
See So. Shore A Bost. St. Itv _________
11 Central Passengor R y .— See Central Tr"a"c"tionZl02 Coast Counties Light A Powor Co.— See"Coast
Bristol C ounty Street R y _____________________ 125 Central Pennsylvania Traction C o .— See Har
Counties Gas A Eloc_______________
120
Bristol Sc N orfolk Street R y ___________________137
risburg R ys_______________________
5i
" " 'l l 9
Bristol & Plalnvllle Tram way (C on n .)__________ 12 Central R y .— See United Railways A E lectric. 7 Coast Valleys Gas A Electric Co . ' "
Bristol (V a.-T enn.) Traction C o____________ 13 Central R y .— See Peoria R y ____________________23 Coeur d ’Alene A Spokane Ry.— See "Spokane 1 0 3
A Inland Emplro Ry_______________
British Colum bia Electric R y _________________ 137 Central T ra ction ____ _________________________ 102
United Traction
■
Broad R ipple T raction_____________________ ZZ 54 Centre A Clearfield Streot R y ________________ Zl37 Cohoos Ry.— Seo A Light C o .. CoZZ
Colonial Power
no
B road R ipple N atatorlum .— See Union Trac
Chambersburg A G ettysburg Elec. R y _______ 21
Colorado Springs Eloctrlc C o.— SeeUnltedGas
tion C o. o f Indiana________________________
4 Ohambersb. Oreencastle A W aynesboro Street
A Electric C o______________
33
B 'w a y Sc 7th A ve. R R ___________________ _
78 „ R y .— See Hagerstown A Frederick R y _____ 61
Colorado Springs A Interurban"Ity
32
Broadway Surf. R R .— See B ’y & Seventh
Charleston C ity R y .— See Charleston Consoli
Colorado Springs Light A Power" Co".— See
Avenue R R . _________________________________78
dated Railway Gas A E lectric_______________24
United Gas A Electric Co__
83
Brockton Brldgewator Sc Taunton St. RyZ—
Charleston Consolidated R y . Gas A Electric—
Colorado Springs Light. Heat A Powor'doZ—
See Old C olony St. R y ______________________ 11
See Charleston Cons. R y . A L tg. C o ______
24
Soo United Gas A Electric
83
B rockton & East Brldgewator St. R y .— Soe
Charleston Consol. R y . A Lighting C o _______ 24
Columbia (S. O.) Eloc. St. Ry. LtghtA'Powor
Old C olony St. R y _________________________ 11 Charleston-Isle o f Palms T raction____ . . . .
24
— See Columbia Ry., Gas A Eloctrlc
32
Brockton & Plym outh Street R y ___________
104 Charleston Interurban R R _______________
24 Columbia A Montour Electric Ry
137
B rockton Street R y .— See Old C olony St. R y
11 Charlotte Elec. R y .— See Southern Pub. UtllZ 24 Columbia Ry.— Soe Wash. Ry. A El'oc7"o6ZZ"l27
Bronx T raction C o _____________________ .
82 Charlotte Electric R y . Light A Power C o .—
Co umb a (S. O . ) Ry., Oas A Eloc. C o .. .
32
B rooklyn Bath & Wost End R R .— See B . R . T . 13
See Southern Pub. Utilities C o _____________ 24
Columbia Ry. Gas A Eloc. Securities C o.—
Brooklyn & Bright. Beach— Soe B klyn. R . T . 13 Charlottesville A Albemarle R y ___
” 24
Seo Col. Ry. Gas A Elec. Co
32
B rooklyn Cable C o.— See Nassau E lectric____ 17
Chattanooga Elec. R y .— Seo C hatt. R 'y.'A L t" 69 Columbus Buckoye Lako A Newark" Traction
B rooklyn C ity S Newtown R R .— See C oney
c
Chattanooga Gas C o .— See Un. L t. A R ys. C o. 47
—Soe Columbus Nowark A Zanosvlllo
33
17 Chattanooga R ys. C o .— See C hatt. R y . A L t . . 69
Island & B rooklyn__________________
Columbus
B rooklyn C ity R R .— See Brooklyn R ap. T ra n . 13 Chattanooga Railway A L ight_____ ___________ 09 Columbus Delaware A Marlon Eloctrlc RR ” . 3 4
Delaware A Marlon Ry
34
B rooklyn Crosstown R R .— See Brooklyn
Chautauqua Traction C o _________________
55
Columbus Ed. C o.—Soe Col. Ity., P. A*Lt.'d"o". 32
Rapid Transit_______________________
13 C heboygan El. Lt. A Pow . C o ___________
137 Columbus
B rooklyn Heights R R .— Seo Brooklyn R . T . . Z 13 Chester D arbyA Phila.— SeeW Il.AOhesterTrac 94 Columbus (Ga.) Eloctrlc Co__________________ 3 2
Grove City A Southwastorn RyZ—
Brooklyn Sc N orth River R R .— See Third A ve
Chester A M edia Elec. R y .— See W il. A Ches
See Indiana Columbus A Eastorn_________ 3 3
nue Railway______________________ ____ _____ 79
ter T raction________________________________
94 Columbus Interurban Torminal d o ______Z"" 3 3
B rooklyn Queens C ounty & Suburban RRZ—
Chestor A Philadelphia R y __________
Z
96 Columbus Kenton A Toledo Traction ""
137
Seo Brooklyn Rapid Transit......... ...............
13 Chester Street R y.— See W il. A Ohes. T rac
94
B rooklyn Rapid Transit (with m ap )_____ __ . 13 Chester Traction— See W llm. A Ohes. T rac. C o 94 Columbus London A Snrlngftoid Ry.— Seo'ln- 3 3
diana Columbus A Eastern__________
Brooklyn Union Elevated— See N . Y . Consol. 16 C hic. B loom . A Decatur R y .— See B loom ing
Magnetic
Brownsville Avenue Street R y .— Seo Pitts. &
ton Dec. A Cham paign________
21 Columbus Marlon A Springs A Nor.""ltyZ~Z"Z 3 7
Columbus
Bucyrus Ry. d o . . - - - -
Birm. Traction C o _______________________
101 Chicago C ity A Connecting R y s _____________
25Columbus
34
Brunswick Terminal & Railway Sec______ . ’ 137
Chicago C ity R y ____________________________
25 Columbus Now Albany A Johnstown Trac. Oo". 3 3
Nowark A Zanesville Eloc. Ry
Brunswick T ra c.— Soe Public Service R y _______71 Chicago Cons. Traction— Soe Chicago IiysZZZZ 26
Columbus A Ninth Ave. R R .—Soe N Y Itys” 7 7
Brunswick Sc Yarm outh R y.— Soe Lewiston
Chicago A Desplaines Val.— See A m . R ys. C o . 92
Augusta Sc W aterville Street R v
106 Cnicago Elevated R a ilw a y s ..________________ 27 Columbus Northern Ry.. Powor A Equlpmont 34
Columbus Powor Co.— Soo Oolum. Elect. Co. 32
M a y , 1918. j
Page.
Oolum bus (G a.) R R .— Soe Columbus EIoc. C o. 32
Colum bus l l y .— Soe C olum . lty ., P . & L. C o . 32
Columbus Railway, Power & Light C o _______ 32
Colum bus St. Ily .— See C ol. l l y ., Pow . & Lt__ 32
Columbus Traction C o.— Soe C ol. R y. & L t.C o 32
Columbus Urbana & Wostern R y ____________ 137
Commonwealth Avenue Street R y .— See M id
dlesex & Boston Stroot R y _________________ 10
Comm onwealth Power, R y . Sc Light C o _____ 45
Comm onwealth Powor C o.— See Consumers'
Power C o ____________________________________ 47
Comm onwealth Powor C o. o f Nebraska.— See
Lincoln Traction C o ________________________ 60
C om pton Heights Union D epot & M erchants’
Terminal R y .— Soe Unitod Railways Systoml.14
Concord M aynard & Hudson Street R y ________50
C oncord Street R y _____________________________ 34
Conoy Island & Brooklyn R R ________________ 17
Coney Island & Gravesend— Seo Bklyn. It. T . 13
Conestoga T raction— Seo Lan. C o. R y . & L t. 59
Connecticut C om pany__________________________73
Connecticut R y. Sc Lighting^__________________ 74
Connecticut Valloy Street R y _________________ 50
Connellsvillo Suburban Stroot R y .— See West
Penn Railways C o __________________________ 103
Conshohocken R y .— Soo Schuylkill V alley____ 109
C onsol. Elec. Light C o. o f M aine.— Seo Cum
berland C ounty Power & Light C o _________106
C onsolidated Gas C o. o f Pittsburgh__________ 103
C onsolidated L t ., l i t . & Power C o .— SeeAm er.
R ys. C o ____________________________________ 92
Consolidated Railway C o.— Soo Conn. C o ____ 73
Consolidated Lighting C o .— See M ontpelier &
Barro Light Sc Power C o ___________________
8
Consolidated Railways, Light Sc Power C o.
(W ilm ington, N . C .) _______________________ 129
C ons. Socur. & Inv. C o .— Seo D en. Tram . C o . 37
Consolidated Traction o f New Jersey__________ 72
Consolidated Traction o f Pittsburgh, P a_____ 102
Consumers’ E l. L t. & Pow . C o. (N ow Orleans) 83
Consumers’ Powor C o __________________________ 47
Consumers' Wator & Light C o _________________ 22
Continental Passongor R y -------------------------------- 96
C opley E gypt & Iron ! m St. R y .— See Lehigh
Valley Transit____ __________________________
3
Corning & Painted Post Street R y ______________35
Corpus Christ! Stroet Sc lnt. R y ______________ 137
C orry-D oavltt-F rost Electric C o .— See M on t
pelier & Barre L. & P . C o ________________ _ 8
Cortland Counoy T raction_____________________ 35
C ounty Traction C o. (C hicago)— See Chicago
Sc W est Towns R y _________________________ 27
Creston W lntorsot & Dos M oines______________ 137
Crosstown St. R y . (B uffalo)— See Intor. T ra c. 18
Orosstown St.— Seo Columbus R y .,P .& L t. C o. 32
Cumberland C ounty Powor Sc Light C o -----------106
Cumberland & Westernport Electric R y . C o . . 86
D
allas Intorurban T orm . A ssociation.— See
Dallas Railway C o _______________________ 35
Dallas Northwostorn Traction C o _____________137
Dallas Power & Light C o ______________________ 35
Dallas Railway C o . . t __________________________35
Dallas Southwestern Traction C o _____________137
D anbury (C onn.) & Bothel Stroet R y _________36
D anville Champaign & Decatur R y . & L t. C o . 22
Danville & Eastern Illinois R y _________________ 22
Danvillo & N orthern.— Seo D a n v. St. R y.& L t. 22
D anville & Southeastern R y ____________________22
Danvillo (111.) Street R y . & L igh t______________22
Danville (V a.) T raction Sc Powor C o _________ 137
D anvillo Urbana Sc Champaign R y ____________ 22
D arby M edia & Chester R y .— See Phlia. R . T . 95
D arby & Y eadon St. R y _______________________ 96
D ayton C ovington & l ’ lqua T ra ction __________ 36
D ayton & N orthorn Traction C o .— Seo Indiana
Oolum bus Sc Eastern________________________ 33
D a yton & Soldiers' H om o R II.— Seo C ity R y . 36
D ayton Springfield Sc Urbaba E lectric lty .—
See In d . C olum . & Eastern_________________ 33
D ayton Springfield Sc X en ia Southern_________ 36
D ayton (O .) Stroot R y .— Seo C ity R y _________ 36
D ayton T raction.— S eeC in . & D ayton T r a c .. 34
D ayton & T roy E lectric_______________________ 36
D ayton & W est. T ra c.— See Ind. C ol. & E ast. 33
D ecatur Gas & E lec.— See Decatur R y . Sc L t . . 22
Decatur R ailw ay Sc Light C o __________________ 22
D ecatur T rac. & E lec.— Seo D ecatur R y.& L t . 22
Dedham (M ass.) Sc Franklin Streot R y ______ 137
D e K alb C ounty Gas C o .— See 111. N o. U til.C o. 40
D e K alb-Sycam ore E lec.— Soo Union R y . Gas
Sc E lectric____________________________________ 46
D e K alb Sycam ore Sc Interurban T ra c.— See
Union R y . Gas & E lectric____________________46
Delaware C ounty Sc Philadelphia Electric R y . 94
Delaware Sc M aryland T rac. Securities C o ___137
Delta Light & Traction C o ___________________ 137
Demerara Electric C o ., L td ., Halifax.................137
Denison Sc Sherman R y .— Seo Texas Elec. R y . 36
Denver C ity Tram w ay.— Soo D en v. T ra m .C o . 37
Denver C onsol. T ram .— Soe Denver Tram . C o . 37
Denver & Intor-M ou ntain______________________ 37
D envor Sc Northwestern R y
.
__________ 37
Donver R ealty C o .— Seo D envor T ram . C o . . . 37
Denver Tram w ay C o ______
37
Donver Tram w . P ow . C o.— Seo D on .C y.T ram 37
Denver T ram w ay Terminals C o .— See Denvor
T ram w ay C o ____________
37
Dos M oines Sc Central Iow a E lectric C o ________22
Des M oines C ity R y _____
. . 37
Des M oines S t. l l R .— See Dos M .’ o l t y R y . . . 37
Des M oines Suburban R y .— seo Dos M . C it y . 37
Detroit A lm ont Sc N orthern R R
. 40
D etroit E lectric R y .— Seo D etroit'u h ltod R y . 39
D etroit Sc Flint.— Soe D etroit United R y _____ 39
D otrolt Fort W ayne Sc Belle Islo R y .— Seo
Detroit United R y ______
39
D otrolt Jackson & C hicago
39
Detroit Sc Lake S t. Clair R y .— See D etroit &
Port Huron Shore Lino R y
39
D etroit M on roe & T oledo Short Lino R y ’ I " . 39
Detroit Sc N orthw .— Soo D otrolt United R y . . 39
Detroit P ontiac Sc Owosso R y
137
Detroit & Pontiac R y .— See D ot. United I l y . . 39
Detroit & Port Huron Shore Lino (with m a p ). 39
D etroit R y .— See Dotrolt Electric R y
39
D etroit Rochester R om eo Sc Lake Orion".— See
Detroit Sc Flint R y _________
39
D etroit United R y. (with m ap)
39
D etroit Ypsilantl Ann Arbor Sc Jackson Ry".—
See Detroit Jackson & C hicago R y
39
D ighton Somerset & Swansea Stroot Ry’.— See
G lobe Street R y _______________
j1
Dixon R ock Falls Sc Southwestern l t y
137
Dom inion Power Sc Transmission C o
132
Dom inion Traction Sc Lighting C o ., Ltd
137
D over Oas Light C o .— Seo Tw in States Gas &
Electric C o ________________________
12
D over Somorsworth & R ochester___I I I ” ” ” 52
Doyles town Sc W illow Grove R y ____
93
D ry Dock East Broadway & Battery’ R R
79
Du Bois Electric Sc Traction C o ______
40
Dubuquo Electric C o ________________
40
Duluth Stroot R y .— Soo Duluth - Superior
T ra c._________________________________
40
INDEX TO RAILWAYS
_
,
P a g e.
Duluth-Superior T ra ction ______________________ 40
Dunkirk & Fredonia R R .— See B uffalo & Lake
E rie T raction C o __________________________ _ 17
Duquesne Light C o ___________________________ 103
D uquosne T ra ction ___________________________ 102
E
ast Cleveland R y .— See Cleveland R y _____ 30
astern Pennsylvania R ys. C o _______________ 107
E astern Powor Sc Light C orporation__________ 108
Eastern Texas E lectric C o ____________________ 8
Eastern Texas Traction C o ___________________ 137
Eastern W isconsin Electric C o ________________ 122
Eastern W isconsin R y . & Light C o .— See East
ern W isconsin Electric C o ___________________ 122
E ast Jersey St. R y .— See Public Service R y . . 71
East M cK eesport Street R y ___________________ 101
East M iddlesex Streot R y _____________________ 12
East Newark Gas L igh t______________________ 71
East Reading E lec. R y .— Seo Reading T r a c ..1 0 9
East St. Louis Light Sc Power C o .— See East
St. Louis & Suburban C o ____________________41
East St. Louis & Suburban C o _________________ 41
East Shore Sc Suburban R y .— See San Francisco-Oakland Term inal R y s _________________ 88
East Side Traction C o .— Soe N .Y .S ta te R y s . . I l l
Easton Consolidated Electric C o ______________ 4
Easton Palmer Sc Bethlehem Elec. R y .— See
Easton Consolidated E lectric_______________ 4
Easton & South Bethlehem Trans. C o .— See
E aston Consol. Eloctric C o _________________
4
Eau Claire Gas Light C o .— See W isc.-M in n .
Light & Power C o __________________________ 58
Edison Elec. C o.— See Lan. C o . R y . & L t ___68
Edison E lectric Illum inating— Soe Paterson &
Passaic Gas & E lectric_____________________ 71
Edison E lectric o f N ew Orleans.— Seo N ew
Orleans Railway Sc Light C o ________________ 75
Eighth Avenue IIR ____________________________ 78
Electric C ity R y .— See Internat. T ra c. C o . . . 18
E lectric C o. o f N . J ____________________________ 94
E loctric D ovel. C o .— Soo T oron to Power C o .135
E lectric Properties C o. (N . Y . ) _______________ 137
E lectric Short Lino R y ________________________137
Electric T raction (Philadelphia, P a .)__________ 96
Elgin Aurora & Southern T ra ction .— See A u
rora Elgin & C hicago____ ________
25
Elizabeth Plainfield & Central Jersey.— See
United Stroet R y ____________________________ 73
Elizabeth & Raritan R iver Streot R y .— See
United Streot R y ____________________________ 73
Elizaboth & Trenton R I l____________
73
Elizabethtown & Florin Street R y .— Soe Lan
caster C ounty R y. Sc Light C o ______________ 59
Elmira W ater, Light & R ailroad_______________ 41
El Paso E lectric C o _____________________
. '4 1
El Reno Interurban R y .— Soe Oklahoma R y . . 86
E lw ood Electric.— See Union T ra c. o f Indiana. 4
Elyria Grafton & Southern.— See Cleveland
South W estern & Colum bus R y _____________30
Elyria & Oborlin.— Seo C leve. S. W . Sc C o l . . . 30
Empire Passenger R y __________________________ 96
Empire State Railroad C orporation__________ 124
Ephrata Sc Adam stown R y .— Seo Lancaster
C ounty R y . & Light C o .......................................59
Ephrata & Lebanon Street R y ________________ 137
Erie C am bridge Union Sc C orry R y ___________ 137
Erie & Central Pennsylvania I ly ______________ 137
Erie E lectric M otor C o — Soe B uffalo & Lake
Erie T raction C o .............................................
17
Erie Rapid Transit C o .— Seo B uffalo & Lake
Erie Traction C o ________________________ .
17
Erie Southern R y _
” 137
Escanaba (M ich .) Traction 0 0 1 1 1 " ” " " ” 42
Essox & Hudson Gas C o _____________ __ .
71
Evanston R y ______________________________ j>7
Evansvillo & East. E lec. R y .— See Evansville
R ys. C o ________
42
Evansvillo E lec, lt’y S o o ’ Uriloh Ily7,"o’.~&'EI 46
E vansv. G . & E . C o .— Soe Un. R y ., G . Sc E ._ 46
k vans v . IIend. & Owonsboro.— Soo E vans.R ys. 42
Evansvillo Light C o .— Seo Union R y ., G . Sc E . 46
Evansvillo & M t. Ver. E lec. R y .— See Evansvillo R ys. C o _________________________________ 42
Evansvillo & Princeton T raction C o .— See
„ Union I ly ., Oas & Electric.................................. 46
Evansv'llo Pub. Sorv. C o .— Soo Union R y .,
„ Gas & Electric....................................
46
Evansville Railways C o _______________I I I ” ” 42
Evansville & Southern Indiana Traction C ol—
Soo Union R y ., Gas Sc E lectric_______________ 46
Evansville Suburban Sc Newburgh R y _________ 42
Evansvillo Term . R y .— Soe Evans. R ys. C o. 42
Evorott R y . Sc Eloctric C o .— Seo Puget Sound
T ra ct., Light & P ow or..................
121
Evorott I lv ., Light & W ater C o .— See’ Puget
Sound T ra ct., Light Sc Pow or_______________ 121
Evorott W ator C o.— Soe Puget Sound T ra ct..
Light Sc P o w e r .....................................................1 2 1
p a ir Haven Sc W ostvlllo R R .— Soe C onn. C o . 73
alrmont & Clarksburg T ra c. C o .— Seo M on ongahola Valloy Traction_____________________ 42
FalrmoTit & M annlngton
T raction.— Seo
Monongahola Valley T raction_______________ 42
Falrmount Park & H addington Pass. R y .—
Seo Hostonvillo M antua & Falrm ount_______96
Falrmount Park Transportation C o ___________ 94
Farmington Stroet R y .— Soo C onn. C o ________ 73
Fayetteville (N . O.) Light & Power C o ............137
fed era l Light & Traction C o ..................................82
Federal Stroot Sc Ploasant Vailey R y __________ 101
Foliclty & Bethel R R .— Soo C ln. Goorgotown
& Portsm outh.....................
29
Ferries & C liff IIouso l l y .— Soe United R*r T o f
San Francisco_______________________________449
Findlay Stroot R y .— Soe T oledo Bowling Groon
T a c t i o n _____ __________________ 126
Fishkill Electric R y ________ __
43
Fitchburg & Leominster Stroet R y .. .I . ” ” ” 43
FHnt Gas C o.— Soo M ichigan Light C o ................. 47
I lushing & Col logo Point Elec. I ly .— See N . Y .
<
Sc Queens C o ___
61
Foruki Johnstown Sc O fovorsvlllo’ R Il’.— See
Railroad and Industrial" Section.
Fond du Lac St. R y . & Light.— Soe Eastern
Wisconsin Electric C o ________________
122
Forest C ity Streot R y .— Soo Cleveland I l y . . ! . 30
I’ ort Dodge Des M oines & Southern IIR .— Seo
Railway and Industrial" Section.
F t. Goorgo & Eleventh A vo. R R ........................... 78
Fort Pitt Traction— Seo Consol. T rac. (P itts .). 102
Fort Scott Gas & Eloctric C o _____________
43
Fort Scott & N ov. L t., lit ., W . Sc P. C o .............137
Fort Smith Light & Traction C o _______________ 43
Ft- W ayno Bluffton Sc M arion T raction C o .—
Soe Ft. W ayne & N or. Ind. T r a c ____________ 43
Fort W ayno & Docatur T raction C o _______ ” 36
Ft. W ayno & Northern Indiana T raction_______43
Fort W ayno Sc Northwostorn R y ______________ 437
Fort W ayne Traction C o .— Soe F t. W ayno
Sc Northern Indiana Traction C o ____________ 43
Fort W ayno Van Wert Sc Lima T rac. C o ______ 34
Ft. W ayne Sc Wabash Valloy T rac. C o .— Seo
Ft. W ayno Sc Northorn Indiana T raction___43
Forty-Second St. & Grand St. Forry IIR ____ 78
139
__
P a ge.
Forty-Second St. M anhat. & S t. N ic h . A ve. R y . 79
Fostoria (O.) & Fremont R y _________________ 44
Fox R ive r V alle y Electric C o .— See Wise"
T ra c t., Lig h t, H eat & Power C o _________ 67
Framingham Southboro & Marlboro Street
R y .— See Boston & Worcester St. R y _____12
Framingham Union Street R y .— Seo Boston Sc
Worcester Street R y _____________________ 1 2
Frankford Sc Southwark Passenger R y ______ I 96
Frankford Tacony & Holmesburg R y _________ 98
Frederick G as & E l. C o .— See Hag. & Fred. R R . 5 1
Frederick & Middletown R R .— See Hagers
town & Frederick I I R _ . . .
_
51
Frederick R R . — See Uagerst. & Frod’ .’ R R l ” 5 1
Freeport R y . Sc L t . C o .— See 111. N o r. U til. C o . 40
Freeport R y ., Lig h t Sc Power C o .— See 111.
N o r. U tilities C o _________
40
Fresno C ity R y .— See Fresno T ra c tlo n C o ” ” 44
Fresno Hanford & Summ it Lake Inter
13 7
437
Fresno Interurban R y ________
Fresno Traction C o ____________
44
Fresno G as & Electric Lig h t C o .—■ Seo’ Pacif’ic
G as & Electric C o _________
117
Fries M fg .& Pow. C o .— See So. Public Util’.
C o ----------------------------------------------------------------------------------- 24
Front & 5th S t. R y .— See Read. T r . & L i g h t . . 109
Frontier Electric R y ______________
13 7
Frostburg Eckhardt & Cum berland Elec. R y ’.
— See Cum berland & Westernport . .
86
Frostburg Iliu m . & M fg . C o .— See Hagerstown
& Frederick R y ____________
54
Fulton Elevated— See Brooklyn Rapid T ra n ” 13
r ja ln e s v ille R y . Sc Pow. C o .— See Georgia R y .
v -* Sc Power C o _________
q
Galesburg G as & E l. C o .— See Ga’lesb."’Ry"
Ltg . & Pow. C o _______________________
22
Galesburg & Kewanee Electric R y _____
57
Galesburg R ailw ay, Lighting Sc PowerC o ._ " _ 22
Galveston E le c. C o .— See G a lv .-H o u s . E l. C o 45
Galvoston-Houston Electric C o ____
45
Galveston-Houston Elec. R y .— See GalvostonHouston Elec. C o ______
45
Gardner Westminster Sc Fitchburg StT’iiy ’ —
See Northern Massachusetts Streot R y
50
G a ry Connect. R y s .— See G a ry St. R y . C o rp ' 45
G a ry & H obart T r a c t io n ________________
13 7
| G a ry & Southern Traction C o _________
"437
G a ry & Interurb. R y .— See G a ry St. R y . Corp. 45
G a ry Street R y .— See G a ry Street R y . C o r p .. 45
G a ry Street Railw ay Corporation______
45
G a ry Sc Valparaiso___________________________ 45
G as & Electric C o . of Bergen C o u n ty _______ . 7 1
Gas Lig h t C o . of New Brunswick— See New
Brunswick Lig h t, H eat Sc Power____________7 1
Geary St. Park Sc Ocean R R _ .
437
General G as Sc Electric C o .— See “ R a ilw a y '*
Iudustrial’ Section.
Geneva Seneca Fa lls Sc Auburn R R . C o ., I n c . . 45
Georgetown Sc Lexington Traction C o .— See
Kentucky T ra c. Sc Te rm ____________
60
Georgetown Rowley & Ipswich— See B ay State
Street R y _____________________
44
Georgetown * Tonallytown R y .— See Wash*
R y . Sc E le c______________________________ 427
Georgla-Carolina Invest. C o .— See AugustaAlken R y . Sc E le c. C orp ___________________ 6
Georgia-Carolina Power C o .— See AugustaAiken R y . & Elec. C o rp ___ __
0
Georgia E le c. Lig h t C o .— See G a . R y l & E le d l 6
Georgia Lig h t, Power & Railw ays (with m a p ). 63
Georgia Railw ay Sc Electric C o . _____________ 6
Georgia R y . Sc Power C o ____________________
6
Germantown Passenger R y ___________________ 96
Glendale Sc Montrose R y ___________________ 1 3 7
Glens Falls Sandy H ill & F t . Edw ard Street
R R .— See Hudson Valley R y _______
_
2
Globe Street R y .— See B ay State R y ______ . 1 1
Gloucester Essex & Beverly— See B a y State . 1 1
Gloucester Sc Rockport.— See B a y State______ 1 1
Gloucester Street R y .— See B ay State S tre e t.. 1 1
G off’s Fails L ltch . Sc H u d .— See M an . T ra c .
Lig h t Sc Power____________________________ 5 5
Goldsboro (N . O .) Traction C o ____________ 1 3 7
Goshen South Bend Sc Chicago R R . — See G a ry
R y . C o r p . . . ........................................... _..............45
Grafton Sc Upton R 1 1 .— See M ilford Sc Ux
bridge St. R y ____________________________ 60
G rand Rapids E d . C o .— See O onsum .Pow .Co_ 47
G rand Rapids G rand Haven Sc Muskegon R y . 49
G rand Rapids Holland Sc Chicago R y _______ 46
G rand Rapids Holland Sc Lake M ichigan R y .
— See G r. Rapids Holland Sc Chicago R y ___46
G rand Raplds-M uskegon Power C o .— See C o n
sumers’ Power C o __________________________ 4 7
G rand Rapids R a ilw ay_____________ . . . _ _ 4 7
G rays Harbor R y . Sc Lig h t C o .— See Federal
Lig h t Sc Traction C o ___________________ _ 82
Green B ay G as Sc E l. C o .— See W lsc.P u b .S.C o . 49
Green B a y T ra c. C o .— See Wise. Pu b. Ser. C o . 49
Greene Sc Coates S ts., Philadelphia, Passenger
R a ilw a y ___________________________________ 90
Greenfield Deerfield Sc Northampton St. R y .
— See Connecticut Valley Street R y ________ 50
Greenfield & Turner's Falls Street R y .— See
Connecticut Valley Street R y ______________ 50
G reen po in t* Lorim er S t.— See B k lyn . R ap id
T ra n sit___________________________________ 13
Greensboro Electric C o .— See N orth Carolina
Public Service C o _________________________ 50
G reenville-Caroiina Power C o .— See Southern
Public U tilities C o _________________________ 24
Greenville Spartanburg Sc Anderson R y .— See
Piedmont * Northern R y __________________ 24
Greenville (S. O.) Traction C o .— See Southern
Pu blic Utilities C o _________________________ 24
Greenwich & Schuylersvllle Electric R R . — See
Hudson Valley I l y ________________________ 2
Greenwich Tram w ay C o .— See Connect’t C o . _ 73
Groton Sc Stonington St. R y .— See Shore Line
Electric R v ______________________________ 88
Gulfport Sc M ississippi Coast Traction C o __ 50
G uthrie-Edm ond R y .— See Oklahom a R y __ 89
Sc Boonsboro R y .— See Hagers
H agerstown Frederick I I R ___________________ 5 1
town Sc
nagerstown Sc Frederick R y __________________ 5 1
Hagerstown & M yersville R y .— See Hagers
town & Frederick R R ______________________5 1
Hagerstown Sc Northern R y .— See Hagerstown
& Frederick R R ___________________________ 5 1
Hagerstown L . Sc I I . C o . of W ash. C o .— See
Lehigh Power Securities Corporation_________ 3
Hagerstown R y .— See Hagers. Sc Fred. R R _ 50
_
H alifax Electric Tram w ay.— See N ova Scotia
Tram w ays Sc Power C o ___________________ 13 2
Ham burg R y . C o .— See Buff. & L . Erie T r a c . . 17
H am ilton, C a t., Power, Light & T r . C o .— See
Dom inion Power Sc Transm ission C o ______ 13 2
H am ilton Sc Lindenwald Electric T ran s.— See
C in cinn ati Sc D ayton T ra ctio n ______________34
H am ilton St. R y .— See Dom . Power & T . C 0 . . 1 3 2
Hammond W hiting Sc E ast Chicago R y _______ 26
Hampshire & Worcester Street R y .— See
Ware Sc Brookfield Street R y ______________ 130
140
INDEX TO RAILWAYS
Pg.
ae
H am pton & Langley Field R y .— See N ew port
News & H am p. K y ., Gas & E lec. C o ______ 51
H am pton Roads T ra c. C o.— See N ew p. News
& H am pton R y ., Gas & E lectric C o ________51
H anover & M cSherrytow n Street R y _________51
H arrisburg E lectric Service C o .— See United
Gas & E lectric C orporation________________ 83
Harrisburg Light & Power C o ---------- -------------- 83
Harrisburg & M echanicsburg E lectric R y .—
See Valley Railways C o ...................
51
Harrisburg R ailw ays------------------------------------------51
H artford M anchester & R ockville Tram w ay.
— See C onnecticut C o _______________________ 73
H artford & Springfield Street R y ...............
125
H artford Street R y .— See C onnecticut C o _____ 73
H arw ood Electric C o .— See Lehigh Power
Securities C orporation---------------------------------- 3
H attiesburg T raction C o.— See Meridian Light
& R y . C o ........................
- - 86
Havana E lectric R y . (C u b a).— See Havana
E lectric R y ., Light & Pow er.......... . ..............132
H avana E lectric R y ., Light & Power C o .......... 132
Haverhill & Am esbury Street R y .— See New
Hampshire E lectric Railw ays_________
51
Haverhill & A ndover.— See B ay State St. R y . 11
Haverhill Georgetown & D a n v .— See B ayState
Street R y ___________________________________ 11
H azleton Steam Heating C o .— See Lehigh
Power Securities C orporation___________ __ 3
Helena Light & R ailw ay C o ............... - ................52
Henderson T ra c. C o --------------------------------------------42
Herkimer M oh aw k lllon & Frankf. E lec. R y .
— See N ew Y ork State Railw ays..................... I l l
H estonvllle M antua & Falrm ount Pass. R y ____ 96
H ocking-Sunday Creek T ra ction ..........................137
52
H olyoke Street R y - - ................................
H onolulu R apid Transit & Land C o ................... 132
H oosac Valley Street R ailw ay.— See Berkshire
Street R y ------------------------— 75
H ooslck Falls R R .— See Berkshire Street R y . . 75
H oosick Falls Illum inating C o.— See Twin
12
States Gas & E lectric C o _________
H oosick Falls E lectric C o .— See Tw in States
Gas & E lectric C o ___________________________ 12
Hornell (N . Y .) T raction C o _________________ 137
H ot Springs Street R y .— See Central Arkansas
R y .& L igh t____ : .............
82
H oughton C ounty Street R y . (M ich .).— See
H oughton C ounty T raction C o ----------------------52
H oughton C ounty Traction C o ------------------------- 52
H ouston E lec. C o .— See G alv.-H ous. E lec. C o. 45
H ouston Gas & Fuel C o _________________________83
Houston Lighting & Power C o. (1905).— See
American Cities C o __________________________77
H ouston & Texas Central R R ________________ 137
H udson C ounty Gas C o _________________________71
H udson R iver & Eastern Traction C o __________ 90
H udson R iver T raction C o .— See N . J. & H ud
son R iver R y . & Ferry C o .................................. 73
Hudson Valley R y .— See United Traction C o_ 2
H um boldt Transit C o. (Eureka, C a l.)_________ 42
Huntington & Charleston R R .— See Ohio
Valley E lectric R y . C o ---------------------------------- 94
I
daho-W ashington Light & Power C o.— See
T he W ash. W aterP ow er C o. System .......... 123
Illinois Central T raction C o ____________________23
Illinois Northern Utilities C o -----------------------------40
Illinois Traction C o . . ..............................
21
IllinoIsValley Gas & Electric.— See ‘ ‘ Railw ay &
Industrial ’ Section.
Illinois Valley R y . C o .— See C hicago Ottawa
& P eoria....... ...........- ............................................. 22
Independence N eodesha & T op eka R y ________ 137
Indiana Colum bus & Eastern Traction C o ____ 33
Indiana N orthern Traction C o .— See Union
T raction C o. o f Indiana-----------------------------4
Indiana R ys. & Light (K o k o m o )----------------------- 58
Indiana R y .— See C hicago South Bend &
Northern Indiana R y _______________________ 122
Indiana Union T ra ction C o .— See U nion T rac.
C o . o f Indiana-----------------4
Indianapolis C hicago & M eridian R y _________ 137
Indianapolis & Cincinnati Traction C o _________ 54
Indianapolis Coal T ra c. C o .— See Terre Haute
Ind . & Eastern_______________________________53
Indianapolis Colum bus & Southern T ra c, C o . 32
Indianap. Craw fordsv. & D a n v . E lec R y ____ 54
Indianapolis & Eastern R y . C o .— See Terre
H aute Ind . & E ast__________________________ 53
Indianapolis & Greenfield R apid Transit— See
Terre Haute Indianap. & Eastern R y ............ 53
Indianapolis & Louisville T ra c. R y ....................... 62
Indianapolis & M artinsville R apid Transit C o . 54
Indianapolis Newcastle & Eastern T ra c. C o ___ 5
Indianap. Newcastle & T oled o E l. R y .— See
Ind . N ew c. & E ast. T ra c. C o ----------------------- 5
Indianapolis N orthern Traction C o .— See
Union Traction C o . o f In d _________________
4
Indianapolis & N orthwestern Traction C o ____ 54
In d . Shelbyvllle & Southeastern T raction C o.
— See In d . & C in . T raction C o _______________ 54
Indianapolis & Southeastern T raction C o .—
See Ind . & C ln. T ra ction ---------------------------------64
Indianapolis Street R y ----------------------------------------53
Indianapolis T raction & Term inal C o __________ 53
Interborough R apid Transit C o.— See "R a il
way and Industrial” Section.
Inter-M ountain R y .— See D enver & Inter
M ountain R R ------------------------------------------------- 37
Inter-M ountain R y ., L t . & P ow . C o . (o f C o lo 0137
International R y .— See Inter. T raction C o ___18
Internat. T raction C o. (B u ffa lo )-------- -------------- 18
International Transit C o. (Sault Ste. M a r ie )..137
Inter-State Consolidated Street R y ------------------ 130
Inter-State Public Service_____________________ 137
Inter-State Railways C o _______________________ 97
Inter-U rban R y . (D es M oin es)________________ 37
Interurban R y . & Term inal C o ________________ 29
Iow a C ity L t. & P ow . C o .— See T ri-C ity R y
& Light C o ...................
49
Iow a & Illinois R y . C o .— See T ri-C ity R y .& L t.4 9
Iow a Railw ay & Light C o -------------------------------- 19
Iow a Southern Utilities C o ____________________ 19
Ironw ood & Bessemer R y . & L t ________________ 54
Irwin-Hermlnle T raction C o ___________________137
Ithaca Street R y .— See Ithaca T ra c. C orp ------ 54
Ithaca T raction C o rp .................. ..................... — 54
J
ackson C onsolidated T raction C o .— See
M ich . United R y s ...................
46
Jackson & Battle Creek T raction C o .— See
M ichigan U nited R y s . . .................... - - .......... 46
Jackson Gas C o .— See M ichigan Light C o ------ 47
Jackson (M iss.) Light & T raction C o __________ 55
Jackson (Tenn.) R y . & Light C o ----------------------- 65
Jacksonville (F la.) E lec. C o .— See Jacksonv.
65
T raction C o ------ ----------Jacksonville Gas, Light & C oke C o .— See
Jacksonville R y . & Light C o ________________ 23
Jacksonville (Fla.) Traction C o ________________ 55
Jacksonville R y . & Light C o -------------------------------23
Jamaica & B rooklyn R R .— See B . R . T ________ 13
Jamestown Street R y --------------------------------------- 55
Jamestown W estfield & N orthwestern R R ------ 137
[Vol. 106.
Page
Janesville (W is.) T raction C o .— SeeU nion R y .,
Gas & E lectric________________________________ 46
Jardim Botanico T ram w ay.— See R io de Janei
ro Tram w ay, Light & Power C o ___________ 136
Jefferson C ity Light. Heat & P o w e r ...................23
Jefferson D ivision.— See Penna. & Ohio R y ._
5
Jersey Central T raction C o __________________ 57
Jersey C ity & Bergen R R .— See C ons. T ra c. C o . 72
Jersey C ity Harrison & Kearney R y . C o .—
See Consolidated Traction o f N ew Jersey___72
Jersey C ity H ob . & P a t.— See P ub. Serv. R y
71
Johnstown Pass. R y .— See Johnstown T r a c .. 55
Johnstown Traction C o _________________________55
Joliet R R .— See Chicago & Joliet E lectric R y . 93
Joliet & Eastern T ra ction ______________________ 66
Joplin & Pittsburg R y . C o ................................. .. 99
P a g e.
Lim a-H oneoye Falls Light & R R ..........................137"
Lima & T oledo T rac. C o .— See Ohio Elec. R y . 33
Lincoln (III.) R y. & Lt. C o ___________________ 137
Lincoln (N eb.) T ra ction ______________________ 60
Lindell R y .— See United Railways C o ________ 114
Lingloscown & Blue M tn .— See Harrisburg Rys. 51
Littlo Falls (N . Y .) & Johnstown R R _________137
Little Rock Railway & Electric C o ___________ 60
L ockport Gas & E lectric.— See United Gas &
Electric C o ............................
83
L ockport Light, H eat & P ow or.— See United
Gas & Electric C o ___________________________ 83
Lockoorr. & O lco tt— See Internat. T ra ction ___18
Logan R apid Transit C o .— See U tah-Idaho
Central R R ....... ........................................
115
Lom bard & South Street Passenger R y .—
See Frankford & Southwark Passenger R y__ 96
K alam azoo Gas C o .— See M ich . Light C o ___47
Lonaconing M idland & Frostburg R y .— See
“ anawha Traction & E lectric C o _____________90
Cumberland & W esternport___________ _______ 86
Kanawha Valley T raction C o .— See Charleston
London & Lake Erie R y . & Transportation___133
Interurban R R _______________________________24 London & Port Stanloy R y .............._ _ .................137
Kankakee Urbana T raction C o _______________ 137 London (Canada) Street R y ___________________ 133
Kansas C ity , C lay C ounty & St. Joseph______ 56
Long Island Consol. Eloctrical C os_ _ ................... 61
Kansas C ity E lev. R y .— See K . C . R y s ______ 56
L ong Island Electric R y .................................
Kansas C ity K aw Valley & W estern R y ______ 65
Long Island T ra c.— Soe Brooklyn R ap. T ra n . 13
Kansas C ity Light & Power C o . ............................56 Lookout M tn . R y .— See C hatt. R y . & L t. C o . 69
Kansas C ity Outer B elt & E lec. R y .— See
Lorain & Cleve. R R .— See Lake Shore E le c .. 31
••Railway & Industrial” Section.
Loralu St. R R .— See Lake Shore E lec. R y ____ 31
Kansas C ity Railways C o ______________________ 56 Loramie & M inster E lectric R R _______________ 137
Kansas C ity & W estport B elt R y .— See K a n .
Los Angelas Hermosa Beach & R edondo— Soe
C ity R y s .......................
56
Pacific Electric R y ...................................
Kansas City-W estern R y .....................i ............ .. 66 Los Angeles Pacific C o .— See Pac. Elec. R y ___61
Kansas E lectric Utilities C o ...............
59 Los Angeles Pac. R R .— Seo P ac. E lec. R y ____ 61
Kenosha E lec. R y .— See W ise. Gas & E lec. C o . 67 Los Angeles & Pasadona E loc. R y .— See Pa
K entucky Securities C orp oration______________ 60
cific Electric R y ...........................................
K entucky T raction & Term inal C o _____________60 Los Angelos R y .— See Los Angolos R y . C o r p .. 62
K eokuk (Iowa) E lectric C o ...................
57 Los Angeles R y . C orn ________________________ 62
Keokuk Electric Railway & P ow er_____________57 Los Angeles & Redondo R y .— See Pac. Electric
K eystone Utilities C o _________________________ 121
R y ..........................
61
57 Los Angelos & San D iego Beach R y __________ 137
K ey W est Electric C o ...............
Klngsbrldge R y .— See Third A ve. R y _________ 79 Los Angeles T ra c.— See Los A ng. R y . C orp ___62
Kings C o . E levated— See N . Y . C onsol. R R . . 16 Louisville & Interurban R y .— See Louisville
Kings C o. T raction— See Nassau E lectric____ 17
R ailw a y____________________________________ 62
Kingston C ity R R .— See K ingston C ons. R R . 58 Louisville & N or. R y. & L tg. C o _____________ 62
Kingston Consolidated R R ____________________ 58 Louisville Railw ay C om p any___________________62
Kittanning & Ford C ity— See W est Penn T ra c. 103 Louisville & Southern Indiana T rac. C orp ____ 63
K noxville R y . & Light C o ______________________ 58 Lowell & Fitchburg Street R y ________________ 7
K noxville Traction— See K n ox. R y . & L t. C o . 58 Lowell Lawrence & H aver.— Soe B ay State S t. 11
K okom o M arlon & W estern T raction C o .— See
Low Fare R y .— See Cleveland R y ____________ 30
Indiana R y s. & L igh t______ __________
58 Lynchburg Gas C o .— See Lynchburg T ra c. &
93
Light C o ...................
Kutztow n & Fleetwood Street R y .— See
93
Allentown & R eading_______________________
4 Lynchburg T rac. & Light-----------------Lynchburg W ater Power C o .— See Lynchburg
T raction & Light C o ..................................
93
f ackawanna V ail. T ra c.— See Scranton R y . . g3
Lynn & Boston R R .— See Bay State St. R y ___11
" a c k a . & W y o . Vail. R ap. T r. C o .— See
Scranton & W ilkes-Barre T ra c................. -.1 2 1
acon E lectric Light & R y .— See M acon
Lacom be & Blindm an Valley E lectric R y ____ 137
R y .& Light C o ...........................................
63
Laconia Street R y ........................
58
Lacrosse C ity R y .— See W ise. R y . & L t. C o . . 58 M acon Gas C o ._________________________________ 63
M acon Railway & Light C o ._ ................................ 63
Lafayette & Logansport T raction— See F t.
W ayne & N o r. Ind . T ra c____________________ 43 M adison C ounty Light & Power C o _____________23
Madison (Ind.) Light & R y. 0 0 ........................... 6 )
Lafayette Street R y .— See F t. W ayne &
Northern Indiana T raction C o ...................
43 M adison (W ls.) Railways C o m p a n y .................... 64
M ahoning & Shonango R y . & Light C o . (with
Lake Charles R y . Light & W ater W orks..........69
m ap ).— Seo R epublic R y . & Light C o ..........131
Lake Erie Bowling Green & N apoleon E le c.R y . 137
Lake Erie & Eastern R y ______________________ 137 M ahoning Val. S. E .— Seo Rep. R y . & L t ____ 131
Lake Erie & Northern R y _____________________ 137 M aine Railways, Light & Power______________ l i 2
Lake Erie T ra c. C o .— See B u ff. & L Erie .Trac 17 Manchester & Derry St. R y .— See M a n . T rac.
Light & P ow er______________________________ 6 5
Lake Erie & Y ou ngstow n_____________________ 137
Manchester & Nashua St. R y .— Soe M anch.
Lake R oland Elevated— See U nited R y s. &
T ra c., Light & Powor C o ____________________6 5
E lectric C o . o f B altim ore__________________
7
Lake Shore E lectric (C levelan d)........................... 31 Manchester Traction, Light & Power C o ____ 65
M anhattan Bridge (N . Y .) 3-Oent Fare L in o .. 17
Lakeside R y ., M ahanoy C ity , P a .— See
Schuylkill T ra ction .................
45 M anhattan & Quoens T raction C o rp o ra tio n .. 61
M anhattan R y .— See “ Railway & Industrial
Lake Street Elevated R R .— See C hicago &
Section.”
Oak Park E levated R y .................
28
M anila Electric R R . & Lighting C orp ________ 133
Lake View L . & Im pt. C o .— See Oanton-Akron
2 M anila Suburban R y s _________________________133
C ons. R y ___________________________________
Lake View T ra c. C o .— See M em phis St. R y . . 65 M anistee R y . ................ — .......... .............. .......... 47
M arion B luffton & E ast. T ra c. C o .— See
Lancaster C ity R R .— See L an. C o . R y . & L t.
M arlon & B luffton T raction C o ____________
9
59
C o ______ _______
Lancaster & Colum bia— See Lane. C o . R y . & L t . 59 M arion & B luffton T raction C o _______________ 9
Lancaster C ounty R y . & L t. C o _______________ 59 M arion C ity R y .— Soe Un. T r. o f In d _________ 4
Lancaster & E ast. R y .— See L ane. C o . R y . & L t . 59 M arion Railway Light & Power C o ___________ 34
M arlon & Suburban R y . C o ____________________65
Lancaster M echanicsburg & N ew H olland—
M arket Street C able R y .— See U . R R s . o f S .F .119
See Lane. C o . R y . & L t. C o ________________ 59
M arket St. E l. Pass. R y .— Seo Phila. R ap. T r . 95
Lancaster Gas Light & Fuel C o .— See Lan
caster C ounty R y . & Light C o _ _ .................. .. 69 M arkot St. R y .— Soo United R R . or San Fran.119
M arlboro & W estboro Street R y .— Soe W or
Lancaster Petersburg & M anhelm — See Lan
cester Consolidated Street R y ______________ 130
caster C o . R y . & L t. C o __________
59
M arquette C ounty Gas & E lectric C o .— Seo
Lancaster & Quarryville Street R y .— See Lan
M ichigan Gas & E lectric____________________ 54
caster C o. R y . & L t. C o ........................... ........ 59
M arquette C ounty E lectric R ailway C o ...............54
Lancaster & R o ck y Springs R y .— See Lancas
Marsoillos W ater & Light C o .— See Consumers
ter C o. R y . & L t. C o . . _____ _______________ 59
Wator & Light C o . . ...............
22
Lancaster & Southern Street R y _____________ 137
Lancaster T ra c. C o .— See Lane C o . R y .& L t 59 Marshalltown (Iowa) L t., Powor & R y .— See
Iowa R y . & Light C o _______________________ 19
Lancaster W illow St. Lam . & Stras. R y .— See
Lancaster C o. R y . & L t. C o ________________ 59 M artinez & Concord Interurban R y __________ 137
7
Lancaster & Y ork Furnace Street R y __________ 59 M aryland E lectric R y s _______________________
Lansing & Jackson R y .— See M ich . Un. R ys- 46 M arysvllle-Colusa Branch— See N or. E lec. Ity.120
M ason C ity & Clear Lako R R _________________ 49
La Porto & M ich . C ity R y .— See C h ic. 8 . B .
& N or. In d . R y ...............
122 Massachusetts Consolidated R y s _______________ 50
Massachusetts Electric Com panies___________ 10
Las Vegas Transit C o .— See Fed. L t. & T r ___82
Laurel Light & Railway C o _____________________ 58 Mass. Northeastern St. R y .................................... 52
Lawrence & Reading— See Bay Stato St. R y _ . 11 Mass. N orth. R ys.— See M ass. C on solid a ted .- 50
Massillon EIec.& Gas C o .— Seo Cities Serv.Co. 83
L eav. L t., n t . & P ow er C o .— See United Gas
& E lectric C o ________________________________ 83 M attoon C ity R y . C o .— See Oont. III. P . S. Co. 65
Lebanon Valley E lec. L t.— See M otr. E d is o n .109 Maumee Valloy Railways & Light C o .— Soe
T oledo T rac. L t. & P ow ____________________ 86
Lebanon Valley St. R y ........................................... 109
M cG avock & M t . Vernon Horse R R .— See
Lehigh N avigation Electric C o .— See Lehigh
Nashville R y . & L igh t...........................................69
Power Securities C orporation_______________ 3
Lehigh Power Securities C orporation................ 3 M eadvlllo & Connoaut Lako T raction.— Seo
North W estom Pennsylvania R y ------------------42
62
Lehigh T ra ction ............................
Moadvllle (P a.) T ra c.— S ooN orth w . Penn. R y 42
Lehigh V al. T ra c.— Soe Lehigh Val. T ran.
C o .............................................................................
3 M edfiold & M edw ay Street R y _______________ 137
M edia Glen R iddle & Itockdalo.— Soo Unltod
Lehigh Valloy L t. & P ow . C o .— See Lehigh
Power & Transportation_____________________ 98
Valley Tran. C o ____________________________ 3
Lehigh Valley Transit C o. (with m a p L _______
3 Memphis Street R y ____________________________ 65
Monominoo & M arinette Light & T ra c. C o ___137
Leominster & Clinton St. R y .— Seo W orcester
Cons. St. R y ........................................................130 Mercer C o. T raction.— Soe Trenton Street R y . 126
Merchants’ Electric Light C o .— See N ow Or
Leominster Shirley & A yer St. R y .— See Fitch
leans Railway C o _________'_________________ 75
burg & Loomlnstor Street R y ________________ 43
Meriden Horso R R .— Seo Connecticut C o _____73
Lewisburg M ilton & W atsontown Pass. R y ___66
Meriden M iddletow n & Guilford Electric R y .1 3 7
Lewiston & Auburn E lec. L t. C o .— See A n
droscoggin E lectric C o ______________________ 106 Meriden Southington & C om pounce Tram way
— Soo C onnecticut C o _______________________ 73
Lewiston Augusta & W aterville St. R y .............106
Meridian Light & Railway C o ........................... 86
Lewiston Brunswick & Bath St. R y .— Seo
Lewiston A ug. & W aterv. St. R y ....... ........... 106 M esaba R a ilw a y ______________________________127
Lowiston-Clarkston Transit C o _______________ 1,37 M etrop. Crosstown R R .— See New York R y s . 77
Lewiston Connecting Bridge— Seo Int. T r a c .. 18 M etropolitan Edison G o . . .....................................109
Lewiston & Youngstown Frontior R y __________ 87 M etropolitan E lec.— Soe Reading T r. & L t.C o.1 0 9
Lewistown & Roedsvllle E lectric R y ....... ............. 59 M etropolitan R R .— Soo Wash. R y . & E loc___ 127
M etropolitan St. R y . (N . Y . ) .— S o o N .Y .R y s . 77
Lexington Avenuo & Pavonia Ferry R y .—
. See N ew Y ork R y s....... ....................
77 M etropolitan W ost Side E lev. R y . (C h ica g o )-- 27
M exican Light & P ower, L td --------------------------- 137
Lexington & Boston St. R y .— See Middlesex
& B oston_____ ________
10 M exico Santa Fo & Perry T ra ction ___________ 137
M exico Tram ways C o _________________________137
Lexington Ice C o ................- ................. .................60
Miamtsburg & Germ antown.— See Cincinnati
Loxlngton & Interurban R ys.— See Kentucky
& D a y to n ____________________________________ 34
Securities C orporation_______________________ 60
Lexington R y .— See Kentucky T ra c. & T e rm . 60 M ichigan C ity T raction C o .— See Chicago
South Bend & Northern Indiana___________ 122
Loxlngton Utilities C o .................
60
Licking River B r. C o .— See C in. N ew . & C o v . 35 M ichigan Gas & Electric C o __________________ 54
Lima Electric R y . & Light...................................... 33 M ichigan Light C o _____________________________ 47
Lima Findlay & Toledo— See W estern Ohio R y 60 M ichigan Railway C o ..................................... — 46
Lim a-H oneoye E lectric Light & R R __________ 137 M ichigan T raction.— See M ich . Unltod R y s ._ 46
M
61
61
61
INDEX TO RAILWAYS
Ma y , 1918. j
Pg.
ae
M ichigan United R ys. C o .— See M ichigan R ys 46
M id-Crosstown Railway C o ____________________82
M iddlob. W areham & Buzzard’s Bay St. R y .—
Seo N ow Bedford & Onset Street R y ________ 73
M iddlesex Sc Boston Stroot R y ________________ 10
M iddlesex Electric Light Sc Power C o _________ 70
M iddlesex & Somerset T raction.— See Public
Service R y ___________________________________ 71
M iddletow n (C onn.) St. R y .— See C onn. C o ._ 73
M iddlo W est Util C o.— Seo “ R y . and I n d .” Soct.
M idland Valley R R ................................................. 137
M ilford A ttloboro & W oonsocket St. R y ______130
M ilford Holliston & Framingham St. R y .— See
M ilford Sc Uxbridgo Stroot R y _______________ 66
M ilford & Uxbridge Street R y _________________ 66
M iller’s R iver Street R y _______________________ 50
M illvalo Etna & Sharpsburg Streot R y .— Seo
Allegheny Traction__________________________ 102
M illville T raction______________________________ 66
Milwaukee Electric Railway & Light__________ 66
Milwaukee Sc Fox River Valley R y .— See She
boygan Electric C o __________________________ 122
Milwaukee Light, Heat ScT raction_____________ 66
Milwaukee N orthom R y ______________________ 19
M ilwaukee St. R y .— See M ilw . E lec. R y.& L t . 66
M ilwaukee Western Electric R y ______________ 137
M inneapolis Anoka & Cayuna Itango R R ____ 137
M inneapolis Streot & St. Paul C ity Railw ay.—
Seo Twin C ity R apid T r a n s it _______________ 67
M inneapolis Sc St. P . Sub.— See Twin C . R . T _ 67
M inneapolis St. R y .— See Tw in C ity R ap. T r . 67
M inn. St. Paul R och. & Dubuque Elec. T ra c. 67
M innesota Central R y _________________________137
Mississippi Valley Railway &Power C o _______ 112
Missouri & Kansas Intorurban R y _____________57
Missouri Electric R R __________________________ 114
M obile Light & Railroad_______________________ 68
M obile Stroot R R .— See M obilo Light Sc R R . 68
M ohaw k Valloy C o .— Seo N . Y . State R y s___111
M onm outh C ounty Electric____________________61
M on ocaoy Valloy R y .— See Hagerstown &
Frederick R y _________________________________ 51
M onongahola Streot R ailw ay_________________ 102
M onongahola Valloy Traction C o ______________42
M ontoroy & Pacific Grove R y .— Seo Coast
Valley Gas & Electric C o ___________________119
M onterey (M ex.) Railway, Light St Pow er___ 137
M ontgom ery C o. Pass. R y.-S oo Schuyl. V. Tr.109
M ontgom ery Light & Traction C o ____________ 68
M ontgom ery (Pa.) Traction C o.— See Lehigh
3
Valloy Transit______________________________
M ontgom ery Stroot R y .— Seo M ontgom ery
(A la.) Light & Traction C o _________________ 68
M ontgom ery (A la.) Traction C o.— See M on t
gom ery Light Sc Traction C o ------------------------- 68
M on tgom ery Transit & Light C o ----------------------137
M ontoursvilie Passenger R y ____________________68
M ontpelier & Barre Light Sc Power___________
8
M ontreal Public Service C orporation_________ 133
M ontreal Stroot R y .— Seo M on t T ra m w a y s .. 133
M ontreal Tram ways C o _______________________ 133
M ontreal Tram ways Sc Power C o _____________ 133
M ontvlllo St. R y .— See Shore Line E lec. Ity__ 88
M oose Jaw (Sasic.) Eloctric R y _______________ 137
M organtown Sc W heeling R y _________________ 137
Morningsido Electric Stroot R y _______________ 102
M orris C ounty Traction C o ____________________ 68
M orris R R .— See Morris County T rac. C o _____ 68
M orristown Gas Light C o ______________________ 71
M ountain Lake Electric R R ___________________137
M t. H ood R y. Sc Powor.— See Portland R y .,
Light Sc Powor C o __________________________ 106
M t. Oliver Incline Plano R y .— See P . & B .
Traction Systom ____________________________ 101
M t. W ashington Streot R y ------------------------------- 101
M t. Vernon (O.) Elec. St. R y ________________ 137
M ousain River R It.— Seo Atlantic Shore R y . . 57
M uncio Hartford & Ft. W ayne Traction C o .—
Seo Union Traction C o. o f Indiana_________ 4
M uncle Sc Portland Traction C o .— Seo Ind.
Newcastle & Eastern Traction C o _________ 5
M uncio & Union C ity T rac. C o.— Seo Union
Traction C o. o f Indiana___________________
4
M unicipal Service C o ------------------------------------------98
M uscatine Sc Iowa C ity R y ----------------------------- 137
M uskegon Traction & Lighting C o --------------------68
M uskogee Electric Traction C o ------------------------- 68
M yorsville Sc Catoctin R y .— Seo Hagerstown
& Frederick R y ______________________________ 51
M ystic Valloy St. R y .— See Bay State St. R y . 11
TSJarragansott Pier R R --------------------------------------75
N a sh u a Street Ity_____________________________ 68
N ashvlllo & Edgefield R R .— See Nashville R y .
& Light C o . ........................................- ...............69
N ashville Railway & Light C o ---------------------------69
Nashvlllo St. R y .— Seo N ashv. R y . & L t. C o . 69
N ashvlllo T ra ction _____________________________ 69
Nassau Electric R R __________________________ 17
N atchoz Electric St. Ity. Sc Power C o.— Seo
Southorn R y. & Light_______________________ 69
Natick & Cochltuato Street R y .— See M iddlesoz & Boston Street R y ____________________ 10
N ational Properties C o _________________________92
N eptune E lec. C o .— Seo A tl. Coast E lec. R y 6
Nevorsink M ountain R y .— Seo R ead. T r. & Lt.109
Now Albany St. Ity.— See L ou. Sc So. in d . T r . 63
Nowark Consolidated Gas C o ____________ — 71
Nowarlc Gas C o .— Seo N owark Consolidated
G a s __________________________________________ 71
Nowark Sc M arion R y . (Now Y ork )__________ 137
Nowark Pass. R y ______________________________ 72
Newark Plank R oad.— See C ons.Trac. o f N . J. 72
N ow Bedford Sc Onsot Stroot R y ____________
73
Now Bedford M iddlob. Sc B rockton.— Soo Old
C olony Stroot R y ----------------------------------------- 11
N ow Brunswick Light. Heat Sc Power C o ____ 71
N ew Brunswick Power C o ____________________ 137
N owburg Electric Ity.---See Orange C o. T ra c. 87
Nowburg & Orange Lako R R .— Seo Orange
C ounty T raction_____________________________ 87
Now Castle Electric C o .— See R ep. R y . & Lt.
C o . ............................................................................131
N ow Castle T ra c— See R epublic R y. Sc L t. C o . 131
N ow England Investm ent Sc Security C o _____ 130
N ow Hampshire Electric Railways....................... 51
N ew Haven Sc Contr. St. R y .— See C on n . C o . 73
N ow Haven Streot R y .— See C onn. C o ............ 73
N ow Holland Blue Ball & Terre Hill St. R y .—•
Soo Lancaster C o . R y . & L t. C o _____________59
Now Jersey & Hudson R iver R y . & Ferry------ 73
N ew Jcrsoy Sc Pennsylvania T ra ction ------------ 126
Now Jersey Traction— See C on. T rac. S ys------ 72
Now London & East Lym e St. R y .— Seo Shore
Line Electric R y .......................... - ...............— 88
New London Streot R y .— See Shore Lino
Electric R y -----------------------------------------------------88
N ew Orleans & Carrollton R R . Light & Power
C o .— See N ow Orloaas R y . Sc L t _____________75
N ew Orloans C ity R R .— Seo N . O . R y . & L t . 75
N ew Orl. C ity Sc Lake R R .— See N . O . R y .& L t 75
N ew Orloans Gas Light C o.— See N ew Orloans
Railway & L ight--------------------------------------------- 75
N ow Orleans & Grand Isle T raction, Light &
P ow er_______________________________________ 137
P a ge.
New Orleans & P on t. R R .— See N ew Orleans
Railway & L igh t____________________________ 75
New Orleans R y . & Light C o _________________ 75
New Orleans T raction C o .— See N ew Orleans
• Railway Sc L igh t____________________________ 75
N ew port & D ayton Street R y .— See C incin
nati N ew port & C ovin g ton ___________________3 5
N ew port Ilium .— See N ew port & Fall R iv e r .. 12
N ew port St. R y .— Seo N ow port & Fall R iv e r. 12
N ew port & Fall R iver Street R y _____________ 12
N ew port Nows & H am pton R y ., Gas & Elec.
C o ......................
51
N ow port News & Old P oint R y . & E lec.— See
N ew port News & [la m p . R y . Gas & Elec.O o. 51
N ew port & Providence R y _____________________ 87
Newtown R y .— See N . Y . Sc Queens C o . R y . . 61
N ew W illiamsburg Sm Flatbush R R .— See
B rooklyn R apid T ransit___________________ 13
N ew Y ork C ity Interborough R y . C o _________82
N ow Y ork Consolidated R R __________________ 16
Now York & Harlem R R _______________________ 78
N ew Y ork & Long Island T r a c t io n _____________61
New Y ork M unicipal R y. Oorp. (with m a p ) .. 17
N ew Y ork N ew Haven Sc H artford R y _______ 73
N ew Y ork & N orth Jersey Rapid Transit_____ 137
N ew York & N orth Shore T raction (R o slyn )._ 1 1 2
N ow Y ork Sc P ort Chester R y .— Seo N ew York
VVestchoster Sc B oston_______________________ 75
N ow Y ork & Queens C ounty R y. (L . I. C it y ) . 61
N ew Y ork Railways C o m p a n y ________________ 77
N ew Y ork State Railways (with m ap )________ 111
New Y ork Sc Stam ford R y ____________________ 75
Now Y ork W estchester Sc Boston R y __________ 75
N . Y . Westchester & C onn. T ra c. C o _________ 137
Niagara & Erie Power— See Buff. & L. E. T r . 17
Niagara Falls Park Sc R iver— See Int. T r a c . . 18
Niagara Falls Sc Suspension Bridge R y .— See
International T ra ction ______________________ 18
Niagara Falls W hirlpool & N orthern R y .— See
International T ra ction ______________________ 18
Niagara Gorge R y . (E loctric)___________________87
Niagara St. Catherines & T oron to R y _________ 133
Nichols Eloctric Light & P ow er________________ 70
N inth Avenue It II____________________________ 79
N orfolk Sc A tlantic Term inal— See Va. R y . S
c
.110
Power C o ____________________________
N orfolk Central St. R y .— Soo W . R ox. Sc R oslindalo St. R y ______________________________ 11
N orfolk Sc Bristol Street R y __________________ 44
N orfolk Sc Portsm outh T rac. C o .— See Va.
Ity. & Power C o ____________________________ 110
N orfolk (V a.) R y. Sc L igh t____________________ 111
N orfolk Street ItR .— See N orf. R y . & Lt. C o . l l l
N orfolk Sub. R R .— See W . R ox. Sc R oslin. R y. 11
N orristown Pass. R y .— Seo Schuylkill Valley
T ra ction _____________________________________ 109
Norristow n Trans. C o .— See Leh. V . Trans.C o. 3
N orth Alabam a Traction C o ___________________ 137
N ortham pton Streot R y _______________________ 87
N ortham pton Sc Atnhorst St. R y .— See C o n
necticut Valley St. R y ______________________ 50
N ortham pton Easton & W ashington T raction
— See N ortham pton Traction C o _____________40
N ortham pton T raction C o . (E aston, P a .)____ 40
N orth Branch Transit C o _____________________ 137
N orth Carolina Public Service C o ______________ 50
N orth Hudson C ounty R y .— Seo P ublic
Service R y ___________________________________ 71
N orth Jorsoy St. R y .— See Public Service R y . 71
2
N orth River R y .— Seo Hudson Valley R y ____
91
N orthern Cam bria Street R y __________
N orthern Contral Gas C o .— See Lehigh Power
„ Securities C orporation______________________
3
N orthern Electric C o .— Soo N or. E lec. R y ____ 120
N orthern E loctric R y . (C a l.)__________________120
N orthern Electric Street R y . (S cranton).— See
Scranton Sc Bingham pton R y ______________ 8
N orthorn Illinois Light Sc T raction C o _________ 23
N orthern Indiana R y .— See C hicago South
Bond & N orthorn Indiana R y ______________ 122
N orthern M assachusetts Street R y _____________50
Northern Ohio Eloctric C orporation__________
2
N orthorn Ohio T ra c. & Light C o ______________ 2
N orthern Ohio T raction— See N orthern Ohio
Traction Sc Light C o _______________________
2
N orthern States Powor C o .— Fargo & M o o r
head D ivision________________________________ 43
N orthern Texas Eloctric C o __________________ 44
Northern Texas T ra c.— See N o r. Texas E le c .. 44
N orthum berland C ounty Gas Sc E lec. C o .— See
Lehigh Power Securities C o ________________
3
N orthum berland C ounty Traction C o ________ 137
Northwestern Electric Scrv. C o. o f P onna____ 41
N orthwestern Elevated (C h ica go)______________ 28
N orthwestern Ohio R y . Sc Power C o __________ 104
N orthwestern Pennsylvania R y _________ *
_____ 42
N orton Taunton & A ttleboro Stroot R y _______ 137
N orwalk Gas & E lectric C o .— Seo Cleveland Sc
Southwestern Sc C olu m bus___________________30
N orw ich Street R y .— Seo Shore Line E lec. R y . 88
N orwich & W esterly Traction C o .— See Shore
Line Electric R y . .
88
N orw ood C anton & Sharon Streot R y _________ 137
N ova Scotia Tram ways Sc Pow er C o _______ 132
O a k la n d A ntioch & Eastern___________________89
'-'a k la n d Gas Light & Ileat C o .— See C allfornia Gas & Eloctric C orporation_______ 117
Oakland San Leandro Sc H ayw ards E lectric—
Soo San Fran.-Oakland Term inal R y ________ 88
Oakland T erm . C o .— See San Fran.-Oak.Term . 88
Oakland T ra c. C ons.— See San Fran.-Oak.
Term inal _________
88
Oakland Traction C o .— Soo San Fran.-O ak.
T erm . R y s ......................................................
88
Oakland Transit C o .— Seo San Fran.-Oak.
Terminal R y s________________________________ 88
Oakw ood Streot R y . C o .....................
36
Ogden Lako & Idaho R R .— Soo U tah-Idaho
Contral R R ............................
115
Ogdon R apid Transit C o .— Soo U tah-Idaho
^ Contral R R ...........................................
115
Ogdensburg Streot R y _________________________ 137
Ohio Contral Traction— See Cleveland South
western Sc C olum bus R y _____________________ 30
Ohio E lectric R ailw ay________________________ 33
Ohio R iver Electric Railway Sc P ow er________ 104
Ohio Service C o _______________________________ 137
Ohio Traction C o _______________________________ 29
Ohio Valley E lectric R y ______________________ 94
Oklahom a Eloctric T erm . C o .— Seo Okla. R y . 89
Oklahoma Railway C o _________________________ 89
Oklahoma Union R ailw ay_____________________ 137
Old C olony St. R y .— Seo Bay State St. Ity___11
Oloan R ock C ity & Bradford R y .— Seo W est
ern N ow York & Pennsylvania T ra ction _____ 89
Olean St. R y .— See W est. N . Y . Sc Penn. T r a c . 89
Oley Valloy R y .— Soo Reading T r. & L t. C o . .1 0 9
Omaha & Council Bluffs R y . Sc B r i d g e ...____ 90
Omaha & Council B luffs Stroot R y _____________90
Omaha Council Bluffs Sc Suburban R y .— See
Omaha Sc Council B luffs Ity. Sc Bridge C o . . 90
Omaha & Lincoln R y. Sc Light C o ______________ 90
Omaha Lincoln & Boatrlce Railway C o ________ 60
Omnibus Cable Ity.— Soo United R R s .o f S. F .1 1 9
141
P a ce.
Oneida Railway C o .— Soo N . Y . State R y s — 111
Oneonta & M ohaw k Val. R R .— See Southern
N . Y . Power & Railway C o ________________ 34
Ontario Sc San A ntonio H eights.— Seo P acific
Electric R y __________________________________ 61
Ontario Light Sc T rac.— See N . Y . State R y s _111
Orange C ounty Traction C o __________________ 87
Orange Sc Passaic Valley R y __________________ 72
Oregon Eloctric R y ____________________________ 107
Orleans-Kenner Electric R y ___________________ 137
Orleans R R .— See New Orleans R y . Sc L ight— 75
Orono W ater C o .— See Bangor R y . Sc E lec. C o. 7
Oskaloosa T rac. & Light C o .— See Des M oines
& Central Iowa Eloctric C o ___________________22
Ottawa (Canada) Electric R ailw ay____________134
Ottawa T raction C o ., L t d ____________________ 134
Ottumwa Railway Sc Light C o _________________ 90
Ottumwa T raction & Light C o .— See Ottumwa
Railway & Light C o __________________________ 90
Owensboro C ity R R ____________________________ 42
Oxford E lectric C o ____________________________ 112
Coast
Pacific ElectricPower.— Seo Puget Sound T ra c., 121
Light & Power___________________________
P acific
R y _____________________________ 61
P acific Gas & Electric C o. (with m ap )________ 117
P acific Northwest T raction C o .— See Puget
Sound Traction, Light & Power C o _________ 121
P acific T raction C o .— See Puget Sound T ra c
tion, Light & Power_________________________ 121
Paducah C ity R y . C o .— See Paducah Traction
90
& Light C o .........................................
Paducah Street R y .— See Pad. T rac. & L t. C o . 90
Paducah Traction & Light C o __________________90
Pan Handle T rac. C o _________________________ 104
Parkersburg M arietta Sc Interurban R y .— See
Kanawha Traction & Eloctric C o ___________ 90
Parkersburg (W . V a.) & Ohio Valley E lec. R y .1 3 7
Park Sc Ocean R R .— See United Railroads o f
San Francisco_______________________________ 119
Park. P t. T rac. C o .— See D u l.-Su p. T ra c___40
Parkside Elec. R y.— Seo San Fran. Elec. R y s . 118
Parr Shoals Powor C o .— See C olum bia R y .,
Gas & Eloctric C o ___________________________ 32
Pasadena & M t. Lowe R y .— See Pac. E l. R y__ 61
Pascagoula Streot Railway & Powor C o ------------ 90
Passaic Sc Newark El. T r .— Seo Cons. T rac. C o 72
Passenger & Belt R y .— See K y. T rac. Sc T e rm . 60
Paterson C ity R y .— See Public Service R y ---- 72
Paterson & Passaic Gas Sc Electric C o -------------- 71
Paterson R ailw ay.— See Public Service R y ---- 71
Paterson Sc State Line T raction C o --------------------73
Pawtucket St. R y .— Seo United T rac. Sc E le c . 74
Peekskill Lighting Sc Railroad--------------------------- 91
Pelham Park & C ity Island____________________ 82
Pelham Park R ailw ay-------------------------------------- 137
Peninsular R ailw ay------------------------------------------ 120
Pennsylvania Light & Power--------------------------- 103
Bonn M otor C o .— See Easton Cons. Elec. C o . 4
Pennsylvania S M ahoning Valloy T raction C o.
c
— Seo Ropublic R y. Sc Light C o _____________ 131
Pennsylvania-New Jersey R y . C o --------------------- 87
Pennsylvania Utilities C o .— See "R a ilw a y and
Industrial” Section.
Pennsylvania & Ohio R ailw ay------------------------- 5
Penn Street Passenger R y . (Pittsburgh).— See
Citizens' T raction_____________________
102
Penn Yan & Lako Shore R ailw ay-------------------- 137
Pensacola Electric Terminal R y .— See Pensac o l 1 Electric C o ____________________________ 91
Pensa<_jla Electric C o __________________________ 91
People’s Elevating C o ---------------------------------------- 73
People’s Gas & Eloctric C o. (B urlington).— See
Burlington Railway Sc Light C o ------------------- 19
People’s Gas Sc Electric C o. (M ason C ity ).—
See United Light Sc Railways C o --------------------47
People’s L t., P ow . Sc R y .— See Paducah T ra c
tion Sc Light C o _______________________________ 90
People’s Passenger R ailw ay----------------------------- 97
People’s R R .— See New York State R a ilw a y s .I ll
People’s R y . (D ayton, O . ) ---------------------------------93
People’s R y ., W ilm ington, Del.— See VVIlm.
& I’ hila. Traction C o -------------------------------------- 94
People's Street R y .— See Scranton R y -------------- 93
People’s Street R y . (W est N ew bury, M a ss.)—
See Lowell Lawrence & Haverhill------------------ 11
People’s T raction (Philadelphia, P a .)__________ 97
People’s Tram way C o.— See C onnecticut C o . . 73
Peoria Bloom ington Sc Champaign T rac. C o .—
See St. Louis Springfield Sc P eoria___________ 23
Peoria Gas & Electric C o .— See Union R y ..
Gas & Electric C o ____________________________ 46
Peoria Light C o .— See Union R y ., G . Sc E. C o . 46
Peoria Lincoln & Springfield R y .— See St.
Louis Springfiold & Peoria----------------------------- 23
Peoria Railway C o ______________________ ,-------- 23
Peoria R y . Term . C o .— See “ R y . Sc Ind. ’ Sec.
Perry Street Passenger R y .— See Federal
Street & Pleasant Valley R y ----------------------101
Petaluma Sc Santa Rosa R y -------------------------------91
Philadelphia Bristol & Trenton Passenger R y.
— See Trenton Bristol Sc Phila. Street R y . . 98
Philadelphia C ity Passenger R y ----------------------- 97
Philadelphia C o. (Pittsburgh, P a .)....................... 99
Philadelphia Sc Darby R y ---------------------------------- 97
Philadelphia Sc Easton Eloctric R y _____________40
Philadelphia & Garrettford St. R y. C o .— See
Philadelphia Sc W est Chester T ra ction ---------- 95
Philadelphia Sc G ray’s Ferry Passenger R y — 97
Philadelphia Sc Lehigh Valley T raction.— See
Lehigh Valley Transit C o __________________
4
Philadelphia Railways C o ---------------------------------- 98
Philadelphia Rapid T ra n s tC o _________________ 95
Philadelphia T ra ction ---------------------------------------- 97
Philadelphia Sc West Chester T ra ction -------------- 95
Philadelphia & Western R y ____________________ 98
Philadelphia Sc W illow Grove Street R ailw ay. 97
Phoenlxvillo Valley Forge Sc Strafford E l. R y .1 3 7
Piedmont Sc Northern R ailw ay------------------------- 24
Piedm ont Railway & E lectric C o ----------------------137
Pine B lu ff (A rk.) C o ................................................. 99
Pitcairn Sc W ilmerding Street R y .— See M on - .
ongahela Street R y __________________________ 102
Pittsburgh Allegheny Sc Manchester Traction.
— See United Traction System ______________ 101
Pittsburgh Sc Allegheny Valley T raction C o .—
See W est Penn T raction------------------------------- 103
Pittsburgh & Beaver Streot R y ------------------------103
Pittsburgh Sc Birmingham Passenger R y .— See
Pittsburgh Sc Birmingham T ra ction ------------ 101
Pittsburgh & Birmingham T r a c t io n __________ 101
Pittsburgh Oanonsburg & W ashington R y ------ 101
Pittsburgh Sc Charleroi Street R y _____________101
Pittsburgh C ounty R y .— See Choctaw Power
Sc Light C o . . . ........................................................63
Pittsburgh Crafton & M ansfield Street R y .—■
See Pittsburgh Railways C o ________________ 100
Pitts. Harmony Butler Sc New Castle St. R y _ .1 0 4
Pittsburgh Incline Plane.— See Pittsburgh Sc
Birmingham T raction System ------------------------101
Pittsburgh M ars & Butler R y ------------------------- 104
Pittsburgh M cK eesport Sc Connellsville R y .—
See W est Penn. R ys. C o ____________________ 103
Pittsburgh M cK eesport Sc Greensburg R y ------ 103
Pittsburgh Railways C o ................................
100
142
INDEX TO RAILWAYS
P a ge.
[Vol. 106.
P tts b u rg R R .(K a n .)— See Joplin & Pitts. R y . 98 Rochester & Sodus B ay R y .— See N . Y . State
Seattlo-Everott T rac. C o .— Soo Puget Sound °
Pittsburg (K an.) R y . & Light C o .— See Jop
R y s ------------------------------------------------in
Traction, Light & Pow er__________________ 121
lin & Pittsburg R y ______ _______
og Rochester & Suburban R y .— See N . Y . State
Seattlo R y .— Soo Puget Sound Traction, Light
Pittsburg T ra ction _____________________
102 s ............................. . ..........................................i n
„ Ry
& Powor_______________________________ _ ]21
Pittsburgh & W est E nd Passonger Ry'.— See
Rochester Syracuse & Eastern R R .— Seo E m
Seattle & Rainier Valloy R y _____________ ___ ! i 2 2
100
Pittsburgh Railways O o ___________ _
124 Seattle-Tacoraa Powor C o .— Soe Puget Sound
pire State Railroad C orporation____ __
Pittsfield (M ass.) Electric Street R y .— See
Rochester & Syracuse R I t ______ __
.
125
121
Traction, Light & Power_________________
Berkshire Street R y __________________________7 5 R ockford B e lo i t * Janosville R R .— See Union
Sea Viow R R .................................................. ! ! ! ” 76
Plttston & Scranton Street R y .— See Scranton
Railway, Gas & E lectric C o _________ _ .
46 Socond Avenue R R . (Now Y o r k )_____ _
79
R y . C o _______________________________________ 93 R ockford & Freeport Electric R y .— See Union
Second Avenue T raction— Soe United T ractionlO l
Plttston Street C ar.— See W llkesbarre & W y o
46 Second & Third Streets Passongor R y ._ _ _ _ _ 97
R ailw ay. Gas & Electric C o ___________ __
ming Valley Traction System ___________
129ockford & Interurban R y .— See Union R ail
R
Sedalia L t. & T rac. C o .— Seo C ity L t. & Tr.Oo. 86
Plainfield Gas & Electric C o .— See Somerset
w ay, Gas & Electric C o ____________________
46 Selma T raction C o ___________________________ 122
Union & M iddlesex Lighting______
71 R ock Island Southern Railroad______ I I
68
Seventeenth & Nineteenth Stroots Pass. l t y ._ 97
P ainfield St. R y .— Soo Public Service R y _ _ !_ 71 R ock Island Southern Railway— Seo M iss.
Seventeenth St. Incline Plano O o ___________
102
Plattsburg T raction C o _______
104
Valley R y . & Power C a ____________________ 112 Shamokin & M t. Carmel Transit O o__________ 122
Plym outh Bridge C o.— See W llkesbarre’ &
R ockland & Ablngton Street Railway— See
Sharon Canton & N orw ood Stroot R y ________137
W yom ing Valley T ra ction ___________________129
So. Shore & B ost. St. R y _____________ __
n
Sharon & Newcastle R ys.— Soo R epublic R ail
P lym outh * Sandwich Stroot R y ______________ 137 Rockland Thom aston & Camden Street R y
112
131
way & Light______________________
Poland St. R y .— See R epublic R y . & L t. C o ” l3 1 R ockport Street R y .— See B ay State
44 Shawnoe-Tecumsoh T raction C o ______________ 122
P once E lectric C o _____
134 R ockville Broad Brook & East W indsor S't.
Sheboygan Gas Light O o.— Seo Wise. Soc. O o. 49
P ontiac Light C o .— See M ichigan Light C o ’ 11 47
R y -— Seo H artford & Springfield St. R y . .125 Sheboygan E lectric C o .— Soe Eastern W is
P ort Huron St. Clair & M arino C ity R y .— See
Rohrerstown Landisvillo & M t. J oy R y .— See
122
consin E loctric C o ____________________
39
D etroit & Port Huron Shore Line____ __
Lancaster C ounty R y. & Light C o _________59
Sheboygan R y . & E lec.— Soe East. W . E . O o ” l2 2
P ort Jervis Traction C o _____________
106 R om o (G a.) Railway & Light C o ____
112 Sherbrooke (Quo.) Railway & Pow or......... .......
Portland & C ape Eliz. R y .— See Portland RR* 106 R oxborough Chestnut Hill & N orristown R y 'l 0 9 Shoro Lighting O o ____________________________ 134
71
P ortland (M e.) E lec. C o .— See C um b. C ounty
Rutland C ity E lec. C o .— Seo Rutland R y ., L t.
Shoro Line Electric R R _____________ ! . ! ! ! ! " ! 7 5
Power & L igh t________________ _ .
106
& Power C o ____________________________
H 2 Shore Lino Electric R y . (C onnecticu t)_______ 88
Portland E u g e n e * Eastern R y .— See Southern
Rutland Railway, Light & Power
112 Shreveport Railways O o ______________________ 122
P acific C o. in "R a ilw a y & Industrial” Sec.
R utland St. R y .— Seo Rutland R y ., L t. & P . C ol 112 Siorra & San Francisco Power C o _____ __ _ 118
Portland General E lectric C o .— See Portland
Sioux C ity Crystal Lake & H om o E lec. R y ___137
R ailw ay, Light & Power C o _________
106 C acram en to E lectric Gas & Railway— See
Sioux C ity Sorvice C o _________________________122
” l 37
P ortland & Oregon C ity R y _____
California Gas & Elect. C orporation _
117 Sioux C ity T raction— Seo Sioux C ity Ser.
P ortland (M e.) R R __________
106 Sacramento Short Lino R y .— See San F ran.C o .................................... ........................................1 2 2
Portland R y . C o.— See Portland R y . Light
Oakland Terminal R y s ______________________ 8S Sixth Avenue R R _____________________________ 79
& P ow er_____________________________________106 Sacramento Valley E lectric R R . .
137 Slato Bolt Electric Stroet R y _________________ 91
106 Sacram ento-W oodland Elec. R R .— See N orth
P ortland R y ., Light & Power C o ___” ” ”
Slatlngton St. R y .— Seo Lehigh Valloy T r a n .. 3
P ortland (C onn.) St. R y .— See C onn. C o . . . _ 73
ern E lec. R y .......................................................... 120 Snydor A vo. St. R y .— Seo Phlla. R ap. T r a n .. 95
Portland & Yarm outh Elec. R y .— See P o rt.R R lQ 6 Saginaw-Bay C ity R ailw ay___________
” 47 Somerset Lighting C o .— See Somerset Union
P orto RicO R ys. C o ., Lim ited _
134 Saginaw Valley T ra ction — Seo Saginaw-Bay
& M iddlesex Lighting O o ____________________ 71
P ortsm outh D over & Y ork Street Ry'.— See
C ity R ailw ay________________________________47 Somerset Union & Middlesex Lighting C o ____ 71
A tlantic Shore R y __________
57 St. Albans & Swanton T rac. C o ______ I
114
Somerville Horse R R .— Seo W ost End St. R y . 10
Portsm outh & Exeter St. R y .— See” New
St. Charles Street R R .— See N ew O rl.R y s.C o! 75 South Bond & South. Michigan R y .— See
Hampshire E lectric_______
51 St. Francois C ounty E lectric______________
137 Southern Michigan R y _____________________ 123
Portsm outh K lttery & York Street R y .— See
St. John (N . B .) R y ______________ _
437 South Bethlehem E lectric Light C o .— See
A tlantic Shoro R y __________
_
57 St. Johnsbury Elec. C o .— See Twin States Gas
Lehigh Valloy Transit O o _____________
3
Portsm outh (Ohio) Street R R . & Light C o ” ” l07
12 South Brooklyn R y.—
& Electric C o ____________
Brooklyn Rap. T r . 13
P otom ac Elec. Power C o .— See W ash .R y . & E .127 St. Joseph R y ., Light. Heat & P o w e r '(M o X '-’ 86 South Chicago C ity R y SeoSee Cal. &So.Oh.Ry. 26
.—
Pottstow n & Phoenlxville R y _____
137 St. Louis D e c a t u r * C ham p. R y .— See B loom
South Carolina Light, Power & R y ____________123
P o ttsv ille& Reading R y .— S eeE . Penn. R y s” l0 7
ington D ecatur & Cham paign__________
21 South Covington & C in. St. R y .— Soo C in
P ottsvillo Union T ra ction .— See E . Penn. Itys.107 St. Louts East Side Belt Line Terminal R y
137
cinnati N owport & Covington R y ___________ 3 5
Poughkeepsie & Wapplngers Falls R y _________ 108 St. Louis Elec. Bridge C o ______________________ 23 South Forry— Soo Broadway & Seventh A v o ._ 78
Poughkeepsie C ity & W applnger Falls Elec.
St. Louis Elec. Terminal R y . C o ___________ ' 23
71
B y .— See Pough. & W applngers Falls R y ____108 S t. Louis Lakewood & Grant Park Elec. R y” 137 South Jersoy Gas, Electric * T ra ction _________ 72
T raction_________
Powell Street K y .— See United R R s. o f S. F
119 S t .L .& M er.R iver R R .— See United R y s .C o .114 South Orange & M aplewoody .— Soo Bay State
South Shore & Boston St. R
Power Transit & Light (California)— See San
St. Louis & Northoastorn R y .— See St. Louis
Street R y ___________________________________ 11
Joaquin Light & Power C orporation . .
44
Springfield & P eoria________________________ 23
Presidio & Ferries R R _________________________120 St. Louis R R .— See United Rys. C o __________ 114 South Sido Elovatod R It., C hicago_____________28
South Side Gas C o ____________________________ 103
Princeton L t., H t. & Pow . C o
71 St. Louis & St. Charl&s Bridge C o ______
11 1 South W ost M issouri E lectric R y .— Seo South
Prospect Park & Coney Island R y
' .......... 17 St. Louis St. Charles & W estern R R .— See
W est Missouri R R __________________________ 129
75
P rovidence & Danielson R y ____ __
Missouri E loctric R R _______________________ 114 South W ost Missouri Railroad________________ 129
P rovidence & Burrillville Street R y .— See
St. Louis & Spring. R y .— Seo St. Louis Spring
South Yuba Water C o .— Soo Pac. G a s* 1 1 C o . 117
3
R hodo Island C o ___________
74
field & Peoria_____________________
23
io)____
Providence Securities C o.— See R hode i s f .O o " 74 St. Louis Springfield & Peoria R R . . ! ” ” ” ' 23 Southoastorn Ohio R y . R(Zanosvillo, O hR y ____ 137
Southern Boulovard R .— Soe Union
Providence & Taun. St. R y .— See Globe St. R y 11 St. L ou is* Suburban R y .— Seo United R y s .C o . 114 Southern Canada Pow er O o.— Seo Sherbrooko79
Public Service C om pany o f Oklahoma
137 St. Louis Transit— Seo United R ys___
114
R y. &
P ublic Service C orporation (with m ap ). . .
70 St. Paul C ity R y .— See Tw in C ity R ap . T ran" 67 Southom PowerRO o .___________________________ 134
Elec. y .— Soo Uu. Rys. o f St. L ___114
P ublic Service Gas C o ______
70 St. Paul Southern Electric R y _____________
137
H t., L t. * Power C o .— Soo D uPublic Service E lectric C o .................. I I I ” ” ” 70 St. T a m m a n y * N ow Orleans Rys. & Ferry C o .137 Southorn Light C o ____________________________ 103
quesno
P ublic Service Investm ent______
■ Salem & Pennsgrove T raction C o ______________ 91 Southern Illinois R y . * Powor O o .— Soo Cen
Public Service Newark T erm . Ry".— See'Pubflc
Salem & W akeffold— See B ay S t a t e ..
n
tral Illinois Public Servico O o . _ _____________65
Service R y ....... .............................
71 Salisbury & Spencer R y .— See N orth Car!
Southern Illinois & St. Louis R y ______________ 137
Public Servico R y (with m a p ). _
'
71
Public Service C o _________________
50
Public Service R R _____________________________ 73 Salt Lake & Og. R y .— Seo Bamberger EL R R l H 5 Southorn Light & Traction Oo. (N atchoz)— Seo
Southorn Railway & Light O o _______________ 69
Public Utilities C o.— See Union 'E y '.~"Gas"~&
Salt Lake Terminal Oo— Soo Salt Lake &
Southern M ichigan R y _______________________ 123
E lectric________
4g
Utah R R _____________________
115 Southern Now York Powor & Railway O o____ 34
P ublic W orks C o .— See Bangor’ Ry’ .’& ’ElocICo'. 7 Salt Lake & U tah......... .......... ..................._ _ _ ! ! 115 Southorn Ohio T raction.— Seo Cincinnati *
Puebla Tram w ay L t. & Power O .
137 San A ntonio Gas & E lectric— See San A ntonio
& D a yton T ra ction ___________________________ 34
Pueblo & Sub. T ra c. & Light C o .— See Arkan
Public Service C o ___________________________ 115 Southorn Oregon Traction C o _________________137
sas Val. R y ., L t. & P o w _____________________ 108 San A ntonio Public Service C o ____ __
115 Southorn Pennsylvania Traction O o ___________ 94
Pueblo T raction & Lighting— See Arkansas
San A ntonio Traction— See San A ntonio Publ'ic
Southern Public Utilities C o ____________________ 24
Valley R y ., L t. & P ow __________
108
Sorvice C o _________________
145 Southorn Railway & Light O o _________________ 69
Puget Sound E lectric R y .— See Puget Sound
San Bernardino Valley T rac. C o .— See Pac!
Southorn Streot R y ____________________________ 26
T raction, Light & Pow er_________
121
E lec. R y _______________________
94 Southorn Traction C o. (Bowling Groon, K y .) .I 3 7
Puget Sound International R y. & Power*Co"—
San D iego Electric R y ____________________ I I I I l l 5 Southern T raction (D allas).— Seo Texas E l.
See Puget Sound T ra c., L t. & Power . .
121 San Diego & Southeastern R y ___________
*137
R y ------------------------------ ------------ --------------------36
Puget Sound Pow er C o .— See Puget Sound
Sandusky N orwalk & M ansfield Electric R y . . 88
Traction C o. f Illinois_____________ 137
I r a c t ., Light & Pow er_______
121 Sandusky Frem ont & Southern R y . . ............... 31 Southorn T raction— Sooo Pittsburgh R y s ______100
Southern
Puget Sound T raction, Light & Power Co
121 Sandwich W indsor & Am herstberg R y _________ 39 Southorn Traction & Powor C o _______________ 137
Putnam & W estchester T raction C o
91 Sanford & Cape Porpoise R y .— Seo A tlantic
South Shoro (L . I.) Traction C o ______________ 137
Shoro R y _________________________________
57 Southwestern St. R y .— Soe Phila. R ys. O o ___98
uakertown T raction.— See L eh .V y .T ra n .C o 3 San Francisco E lectric Railways . . .
118 Southwestern (T ex.) Traction C o _____________125
uebec-Jacques Cartier E lec.— See Quebec
San Francisco Gas & El. C o .— See Pac. G.&E1.117 Southwestern Traction— Seo London & Lake
R y . L t. l i t . & P ow er_________
134 San Fran. N apa & Calistoga R y _____ __ .
120
Erio R y. & Transportation C o ______________ 133
Q uebec-M pntm orency R y .— Seo Q u o b e c R y '
San Francisco Oakland & San Jose C ons. R y —
Spokano & Inland Emplro R y ________________ 123
134
L igh t, Heat & Power C o ., L td _________
See Sain Fran.-Oakland T erm . R y s ____ __
88
Quebec R y . L t. Heat & P ow er____
134 San Francisco-Oakland T erm . R y s ____________ 88 Spokane Term inal C o .— Soe Spokane & Inland
Emplro R y __________________________________ 123
Quebec & Saguenay R y .— See Q uebec’ R y.'.
San Francisco & San M ateo E lectric— Soo
Spokano T raction C o .— Soo Spokano & Inland
Light, Heat & Power C o _________________ 134
United R R . o f San Francisco_______________ 119
Empire y
123
Queens R y . C o .— See N ew Y ork & Qu! C o .R y ! 60 San Joaquin Light & Powor C orporation_______44 SpringfioldR& __________________________________ 137
Contral Illinois_________________
Qhlncy (111.) Horse R y . & Carrying— Seo
San Jose & Alum R ock R v .— See San Jose R R s 120 Springfield (111.) Consolidated Railway— Soo
Quincy R y ___________________
23 San Jose-Los Gatos Interurban R y .— See
Union Railway, Gas & E loctric______________ 46
Quincy R ailw ay__________________ ! ! ! ! ! ! ! ! ! ! 23
Peninsular R y _______________________________420 Springfield & East. St. R y .— Soe Springfiold
San Joso Railroads_______________________ I I I I l 2 0
Stroot R ailw ay______________________________130
|>allroads & Power D evelopm ent C o _________ 118 San J ose* Santa Clara R R .— See San Joso R Rs! 120 Springfield Electric R y . (Vorraont)____________124
■■'allway & L t. Securities (B oston )___________ 137 San Jose Short Lino R y .— See San Fran.-Oak.
Springfiold Light, Heat & Powor C o __________ 47
Raleigh St. R y .— See Carolina Pow er & L t.C o .1 0 8
Terminal R y s......... ...........
88 Springfield * Northoastorn T raction C o .— Soo
R apid Transit St. R y .— See C onsol. T ra c. C o 72 San Joso Terminal R y ____________
137
St. Louis Springfiold & P eoria_______________ 23
Reading C ity Passenger R y .— See Reading T r 109 Santiago (Cuba) E lec. Light & Traction C o l ” 137 Springfield (Ohio) R ailw ay_____________________ 93
Reading & Lowell— See B ay State
n
Sao Paulo Electric C o ., L t d ________________
136 Springfield (111.) Railway * Light C o .— Soo
Reading & Tem ple Electric R y .— See Reading
Sao Paulo Tram w ay, Light & Power C o
" l3 6
Union Railway, Gas & Eloctric______________ 46
T ra ction ................................
109 Sapulpa (Okla.) & Inter. R y _________________ I 137 Springfield Railway Companion_______________ 130
R eading T raction.— See Reading T r. & L t I C o. 109 Saratoga Traction— See Hudson Valley R y I 2 Springfiold (M o .) Railway * Light C o _________ 82
R eading Transit & Light C o ____
109 Savannah E lectric C o _____________________
121 Springfield (M ass.) Stroet R y __________________130
Reading W akef. & Lynn— See B ay S ta t e !” ” 11 Savannah River Powor C o .— See Georgia R y !
Springfield (O.) Terminal R y. & Powor C o ___124
R eading & W om elsdorf— See Reading T r a c . . . 109
& Power C o ______________________________
6 Springfiold (M o.) T raction— Soo Springfiold
Redlands Central R y .— See P ac. E lec. R y
61 Savannah Thunderbolt & Isle o f H ope R y .—
Railway & Light C o ___________________ _
82
Redlands St. R y .— See P ac. E lec. R y . . . . ” ” 61
See Savannah E lectric C o _____________
121 Springfiold T roy & PIqua R y .— Soo Springfiold
R epublic R y . & Light C o __________
131 Schenectady R y ___________________________
m
T erm . R y . & Power O o _____________________ 124
R hode Island C o _____________________ ! ” ! ! ! ! ! 74 Schuylkill E lectric R y .— See E ast. Penn. Rys'.107 Springfiold & Xonia R ailw ay_________________ 123
.R h o d e Island Suburban R y _________ I ” ” ” ” 7 4 Schuylkill Gas & E lectric C o .— See Lehigh
Stafford Spgs. St. R y .— Seo C onnecticut C o . . 73
Richland Public Service C o ____86
Power Securities C o r p o r a tio n _________
. 3 Stamford Stroot R It.— Soo Connecticut O o ____ 73
R ichm ond Light, Heat & Power Co'.— See
Schuylkill Haven & Orwigsburg S t. R y .— See
Standard Eloctric C o .— Soo P a c. Gas & Elec
United Gas & Electric C o . .
83
East. Ponn. R y s _______________________
107
C o r __________________________________________117
R ichm ond Light & R R . C o ............. I . ..................124 Schuylkill R y . C o . . _________
45 Standard Gas & Elec. C o .— Soo " R y . & I n d .” Sect.
R ichm ond R y . & E lec.— See V a. R y . & P o w e r ! 110 Schuylkill Traction (Glrardvllle, P a .)____ __
45 Stark Eloctric R R ____________________________
4
R ichm ond & Rappahannock River R y _____
137 Schuylkill Valley T ra c.— See Reading Transit
Staton Island M idland R y ____________________ 124
R ichm ond & Seven Pines R y ________________ 1 137
& Light C o _______ ____
109
Ry
Soo N .
R idge A venue Passenger R y__
97 Scioto Valley Traction C o ______________________ 34 StolnwayGas .— Electric Y. o& Queens Co. R y . . 60
Sterling
&
C .— Seo Illinois N or
R idgew ood Gas C o .............................
I . . I I I I I I 71 Scranton & Binghamton R R .— See Scranton &
thern Utilities O o ____________________________ 40
R io de Janeiro Tram w ay Light & P o w o r ” ” ” l3 6
Bingham ton R y ____________________________ 8 Steaub. East Liverp. & Beav. Valloy T ra c_____ 40
R jttersville H otel C o .— See Loh. Val. Tran.Co'. 3 Scranton & Binghamton R y __________________
8 Steubonvillo M ingo & Ohio Valley T raction—
R iv e rs id e * Arlington R y .— Seo P ac. E lec. R y . 61 Scranton & Binghamton T ra c. C o .— See Scran
See Steubonvillo & W hooling T ra ction _____ 104
R iverside T ra ction _________________
73
ton & Binghamton R R ______________________ 8 Steubenville & W hooling T raction C o .— Soo
R oan oke R y . & Electric— See R oan . T r .'& L t'I 94 Scranton & C arb. T ra c.— See Scranton R y ___93
W hooling T raction__________________________ 104
R oan oke Traction & Light C o .
94 Scranton Dunm ore & M o .T k .— See S cran.R y 93 S tillw a ter* M ochanlcvlllo— Soo Hud. Val. R y . 2
R ochester C harlotte & M anltou R R .— See
Scranton & Pittston T r .— See Scranton R y ___93
124
Stockton Eloctric
Rochester & M anltou R R
112 Scranton & W ilkes-Barre T ra ction ___________ 121 Stockton Torminal R It_________________________ 137
&<Eastorn R R _____________
R ochester C ity & Brighton— S'e'o’ N .' Y.'"s'ta'te
Scranton R y _____________________________
93 Suburban Rapid Transit C o. (W innipeg)______136
R y s - . ............................................. __ .
in
Sea Beach R y .— See N . Y . C onsol. R R ________ 16 Suburban R ap. T ran. St. R y ., Pittsburgh, P a . 102
Rochester-Cornlng-Elm lra T raction C o .
137 Sea Coast Traction— See A tlantic Coast E le c._ 6 Suffolk Syndicate— See Suffolk T raction C o ._ 91
Rochester Elec. R y .— See N . Y . State R ys
111 Seashore Electric R y ., Asbury Park— Seo A t
Suffolk T raction C o ____________________________ 91
Rochester & M anltou R R ____ __ .
112
lantic Coast Electric R y ___________________
5 Sunbury & Susquehanna R y ___________________ 137
Rochester R y . & Light— See N . Y . 'S t a t e R y s I l l l Seattlo Eloctric C o .— See Puget Sound T ra c.,
Susquehanna R y ., L t. & Powor O o .— Soe
R ochester R y .— See N . Y . State R y s ................. I l l
Light & Power_____________________________ 121
United Gas & E loctric C orp _________________ 83
O
Ma y , 1918. j
INDEX TO RAILWAYS
Sutro RR.— Soo United RR. of San Fran
cisco_______________________________ 119
Suttor St. Ry.— See United RR. of San Fran
119
cisco------ -----Swansea & SeekonkStreet R y _____________ 124
Sydney & Glace Bay R y .Co.— See Cape
Broton ElectricC o ____________________ 135
Syracuse Lake Shore A Nor. RR.— See E m
pire State Railroad Corporation_________124
Syracuse Northom Eloc. R y ______________ 125
Syracuse Ran. Tran. Ry.— SeeN.Y.State Rys.Ill
Syracuse A Suburban R R ________________ 125
rpacoma Ry. A Power.— See Puget Sound
* Traction, Light A Power____________ 121
Tama A Tolodo Ry. Co.— See Iowa Ry. A Lt. 19
Tampa Electric C o _________
125
Tamaqua A Pottavllle Electric RR.— See East.
Penn. Rys__________________________ 107
Tarrant County Traction Co.— See Northern
Texas Electric C o _____________________ 36
TWTytown White Plains A Mamaroneck R y .
—
See Shore Line Electric R R ______________ 75
Taunton A Brockton Street Railway.— See
Old Colony Street Railway____________ 11
Taunton Street Ry.— See Olobo Street R y __ 11
Taylor Ave. RR.— See United Rys. of St. L..114
Templeton St. Ry.— See Nor. Mass. St. Ry.. 50
Tennessee Pow. Co.— See Tenn. Ry., L. A P_. 69
Tennessoo Railway, Light A Power__________69
Terre Haute Electric Co.— See Terre Haute
Traction & Light______________________53
Terre Hauto Indianapolis & Eastern Trac. Co. 53
Terre Haute Traction & Light C o __________ 53
Terre Hauto & Western Ry. Co.— See Terre
Hauto Traction A Light________________ 53
Texas Traction Co.— Soe Texas Electric Ry. 36
Texas Electric Railway___________________36
Third Avenue Ry. (N. Y.)______________ 79
Thirteenth & Fifteenth Streets Passonger Ry. 97
Thirty-fourth Street Crosstown R y _________79
Tidewater Power C o -------------------- 129
Tidewater Southern Railway------------- 124
Titusville Traction C o ___________________ 137
Tolodo Bowling Groon & Southern Traction.. 126
Tol. Fayotte & Western.— See Toledo Trac.,
Light & Power........
.86
Toledo & Findlay St. Ry.— See Tolodo Bowl
ing Green & Southern_________________ 126
Toledo Fostorla A Findlay_______________ 126
Tolodo Fremont & Norwalk Street Ry.— See
Lake Shoro Electric___________________ 31
Toledo Gas Light & Coke Co.— Soe Toledo
Traction, Light & Power Co_____________ 86
Toledo & Indiana Railroad_______________ 126
Tolodo Heat & Light Co.— See Toledo Trac
tion, Light & Power C o _________________ 86
Toledo & Maumee.— See Tol.Trac.,L.AP.Co. 86
Toledo Port Clinton A Lakeside Ry. Co.— See
Northwestern Ohio Ry. A Power C o _____ 104
Toledo Railways A Light Co.— See Toledo
Traction, Light A Power C o ____________ 86
Toledo Traction, Light & Power___________ 86
Tol. & Weetorn Iiy.— -Soe Tol. T., L. & P. Co. 86
Tonawanda Electric RR.— See Internet. Trac. 18
Tonawanda 8* RR.— See International Trac. 18
.
Topoka Edison Co.— Sco Topeka Ry. A Lt.Co. 23
143
Pg.
ae
P a g e.
Topeka Railway________________________ 23
Topeka Railway & Light Co ______________ 23
Toronto Elec. Lt.— Seo Toronto Power C o __ 135
Toronto (Canada) Railway_______________ 135
Toronto Power Co ______________________135
Toronto Suburban Railway______________ 137
Toronto & York Radial Ry.— See Toronto Ry.
(Canada)___________________________ 135
Torrington & Win. St. Ry.— Soe Conn. C o __ 73
Transit Development Co.— See Brooklyn Rapld.Translt C o ________________________ 13
Trans-St. Mary’ Traction Co____________ 137
s
Trappe& Limerick Electric.— Soe Rox. Chest
nut 1 1 1 & Norristown_________________ 109
11
Trenton Bristol & Philadelphia Street R y ___ 98
Trenton City Bridge Co.— See N e w Jersey &
Pennsylvania Traction C o ............. 126
Trenton Gas & Elect.— Soo So. Jersey Gas,
Electric A Traction____________________71
Trentonllam. A Ewing— Seo Trenton St. Ry. 126
Trenton & N o w Brunswick RR.— See Eliza
beth A Trenton R R ____________________73
Trenton Lakowood & Seacoast R y _________ 137
Trenton & Mercer Co. Trac. Corn_________ 126
Trenton Pennington & Hopewell Street Ry.—
See Trenton Street R y ________________ 126
Trenton (N. J.) Street R y ________________ 126
Tri-City Ry.— Soo Tri-Olty Ry. A Lt. C o ___ 49
Tri-City Railway A Light C o _____________ 49
Trinidad (Port of Spain) El. Co., Ltd_______137
Trinidad Eloc. Transm. Ry. & Gas— See Fed
eral Lt. & Trac. C o ____________________82
Troy City Ry.— See United Trac. (Albany)_____ 2
Troy Hill Pass. Ry.— Seo Fed. St. & P. Valley
P. R y _____________________________ 101
Troy A N o w England R y ________________ 126
Tucson Rap. Tr.— See Fed. Lt. A Trac_____ 82
Tuscaloosa Railway A Utilities C o _________ 126
Tuscarawas Trac. Co.— See Can.-Ak. Cons.
R y ....... ............. ..... ..... 2
Twenty-Second St. A All. Ave. Pass. R y _____ 96
Twenty-eighth A Twenty-nlntn Streets Orosstown RR. (N. Y.)— See Mid-Orosstown Ry. 82
Twenty-third Ave. El. Ry.— See San Fran.Oakland Term. R y _____________________88
Twenty-third Street R y __________________ 79
Twin City Light A Traction Co____________137
Twin City Rapid Transit_________________ 67
Twin Falls (Idaho) R y .... ........
137
Twin State Gas A Electric C o ____________ 12
Tyler City Light A R y __________________ 137
Underground Elec. Rys. of London, Ltd___ 137
'-'nlon Consolidated Elevated Ry., Onlcago.. 28
Union Depot RR. (St. Louis, Mo.)— See
United Railways C o __________________ 114
Union Electric Co.— See Dubuque Eloc. C o __ 40
Union Elev. RR.— See Northwestern Elev___ 28
Union Gas A Electric_____________________83
Union Light, Heat A Power Co.— See Cin
cinnati Newport A Covington___________ 35
Union Loop— See Union Elevated R R _______ 28
Union Passenger Railway_________________ 97
Union Ry.. Gas A Elec. ( I . _____________ 46
II)
Union Ry. of N e w York__________________ 79
Union Ry.— See Wilmington A Chester Trac.. 94
Union Street Ry. (New Bedford, Mass.)______ 73
H. M . B Y L L E S B Y
&
_
Page.
U nion T r a c tio n C o . (O o ffe y v llle , R a n . ) _________3 2
U n ion T r a c t io n C o . (N a s h v i ll e ,T e n n .) _________69
U nion T r a c . C o .— See C o a s t C o u n tie s G .A E 1 .1 2 0
U nion T r a c t io n C o . o f I n d ia n a __________________ 4
U nion T r a c t io n (P h ila d e lp h ia , P a . ) ______________ 9 6
U nion U tilitie s C o .— See W e s t V a . T r a c . A
E le c tr ic C o ______________________________________110
U nited E le c tr ic C o . o f N . J ........................................ 7 0
U nited G as A E le c . C o .— See T w in S ta te G as
A E le c tr ic C o _________________________________ 12
U nited G a s A E le c . C o .— See L o u is v ille A
N o r t h . R y . A L ig h t C o ________________________ 62
U nited G a s A E le c tr ic C o .— See C a lifo rn ia
G as A E le c tr ic C o r p o r a t io n ______________
117
U nited G a s A E le c tr ic C o . (N e w J e r s e y )_______ 83
U nited G as A E le c tr ic C o r p o r a t io n ______________ 83
U nited L t . A R y s . (G r a n d R a p id s ) (w ith m a p ) 47
U nited N a tio n a l U tilitie s C o ____________________ 9 2
U nited P o w e r A T r a n s p o r t a t io n ________________ 98
U nited R a ilro a d s o f San F r a n c is c o _____________119
U nited R y s . A E l. C o . o f B a lt o __________________ 7
U nited R y s . In v e s tm e n t C o . (San F r a n c is c o ) ..1 1 8
U nited R a ilw a y s C o . (S t. L o u is )_______________ 114
U nited S t. R y . o f C e n t . N . J .— See P u b . Ser.
R a ilw a y _________________________________________ 71
U nited T r a c tio n (A lb a n y )_______________________
2
U nited T r a c . A E le c _______________________________ 74
U nited T r a c t io n (P itt s b u r g h )___________________ 101
U n ited T r a c t io n (R e a d in g , P a .) — S ee R e a d in g
T ra n sit A L ig h t C o ___________________________ 109
U nited T r a c tio n S t. R R . C o .— See D u B ols
E le c . A T r a c . C o ________________________________ 4 6
U rbana B e lle fo n ta in o A N o rth e rn R y . — See
In d ia n a C o lu m b u s A E a s te rn _________________ 33
U rbana A C h a m p a ig n R y . G a s A E le c . C o ____ 22
U rbana L t ., H e a t A P o w e r C o . . / _______________ 22
U ta h -Id a h o C e n tra l R R ________________________ 115
U tah L ig h t A R y . C o .— See U tah L t . A T r a c . . 115
U tah L ig h t A T r a c t io n ___________________________ 115
U tah P o w e r A L ig h t ______________________________115
U tica B e lt L in e S treet R R . — See N . Y . S ta te
R y s ....................................................................................i l l
U tica A M o h a w k V a lle y R y . — See N . Y .
S tate R y s _______________________________________ i l l
U tilities Oil A R e fin in g C o _______________________ 83
U xbrid ge A B la ck sto n e S t. R y .— See W o r c e s
ter C o n s o lid a te d S treet R y ___________________ 130
M a lle jo A N o rth e rn R R . — See N o rth e rn E le c .1 26
T a lley C o u n tie s P o w e r C o .— See P a c ific
G a s A E le c tr ic C o __________________________ 117
V alle y R a ilw a y s ___________________________________ 51
V a lle y S treet R y .— See R e p . R y . A L t _________131
V a lle y T r a c tio n C o .— See V a lle y R a ilw a y ______51
V alp a ra iso A N o rth e rn R y .— See G a r y A V al
45
pa ra iso R R ___________
V an B ru n t S treet A E rie B asin R R ______________ 17
V e rm o n t C o m p a n y — See B erkeshlre S t. R y ___ 7 5
V e rm o n t P o w e r A L ig h tin g C o .— See M o n t
pelier A B arre L ig h t A P o w e r C o ____________
8
V ick sb u rg L ig h t A T r a c t io n C o _________________126
V in cen n es C itizen s S t. R y . — See V ln . T r a c ____ 127
V in cenn es T r a c tio n C o ___________________________ 127
V in cen n es T r a c . A L t . C o .— See V ln . T r a c ____ 127
V irgin ia P assen ger A P o w e r C o .— See V irgin ia
R a ilw a y A P o w e r ______________________________ 116
V irgin ia R a ilw a y A P o w e r ______________________ 116
C O M P A N Y
IN C O R P O R A T E D
Engineers—Managers
Design—Construct—Operate
Artificial Gas Systems
Street Railways
Water Works
Electric Light Plants
Irrigation Systems
Natural Gas Systems
Interurban Railways
Water Power Plants
Transmission Systems
Drainage Systems
Examinations—Reports
NEW YORK
Trinity Building
1220
220
CHICAGO
So. La Salle Street
144
INDEX TO RAILWAYS
Pg.
ae
W a b a s h River Traction Co.— See Pt. Wayne
& Northern Indiana Traction C o _______ 43
Wakefield Sc Stoneham St. Ry.— See Bay State
Street R y ____________________________ H
Walden Sc Orange Lake.— See Orange County
Traction_____________________________ 87
Walkill Transit G o ______________________ 66
Ware Sc Brookfield Street R y _____________ 130
Warren Brookfield Sc Spencer Street Ry.— See
Worcester Sc Warren Street R y ___________127
Warren & Jamestown St. R y ______________ 127
Wash. Alexandria Sc Mt. Vernon Ry.— See
Washington-Virginia R y _______________ 128
Wash. Arlington & Palls Church Ry.— See
Washlngton-VIrglnla R y _______________ 128
Washington Baltimore Sc Annapolis Electric
128
R R ..... ....................
Washington Berwyn Sc Laurel Electric.— See
City & Suburban______________________127
Washington Sc Canonsburg Railway Co____ 101
Washington Electric R y ......
137
Washington (D. O.) Interurban Ry.— See
Washington Ry. Sc Electric.............127
Washington Sc Glen Echo RR.— See Washing
ton Railway Sc Electric_________________ 127
Washington & Great Pails Ry. Sc Power C o __ 137
Washington & Maryland R y _____________ 128
Washington & Old Dominion_____________ 128
Wash. Sc Rock. Ry.— See Wash. Ry. Sc Elec.. 127
Washington Railway Sc Electric C o _________ 127
Washington Spa Springs Sc Gretta R R ______ 137
Washington Utilities C o ..........
128
Wash.-Virginla Ry. C o __________________ 128
Washington Water Power, Spokane_______ 123
Washington Westminster 9c Gettysburg RR...137
Wash. Woodsldo Sc Forest Glen Ry. Sc Power
_Co.— See Washington Railway Sc Electric.. 127
Waterbury Light & Pow. Co.— See Montpelier
Sc Barre Light Sc Power C o ____________
8
Waterloo Cedar Palls & North. Rapid Transit. 128
Watertown Gas Sc Electric Co.— See Wise. Gas
Sc Electric C o ........
67
Watervillo Fairfield & Oakland Ry_________ 129
Watervillo & Oakland St. Ry.— See Watervllle
Fairfield & Oakland R y ............
129
Watervllet Turnpike & Railroad.— See United
Traction (Albany)___________________
2
Waukegan Rockford & Elgin Traction______ 137
W a y cross (Ga.) Street & Suburban R y ______ 137
Webb City Northern Electric Ry.— See South
129
west Missouri R R ..............
Webster Sc Dudley.— See Wore. Cons. St. Ry.130
Weehawken Contracting Co_________
70
Westchester Electric.— See Union Ry;, N. Y_. 79
West Chester Kennett & Wilmington Elec. Ry. 57
West Chester Street R y __________________ 129
Westchester Street R R .................. 75
West End Passenger Ry.— See Frankford &
Southwark Passenger R y _______________ 96
West End Rapid Transit Co.— See Cincinnati
Laurenceburg & Aurora Electric Street Ry.. 29
West End Street Ry. (Boston)............ 10
West EndSt. Ry.— See Lane. Co. Ry. & Lt__ 59
West End Traction, Pittsburgh, Pa.— See
Pittsburgh Railways Co............... 100
Western Mass. St. Ry.— SeeSpringf. St. Ry__130
Western N e w York & Pennsylvania Trac. Co. 89
Pg.
ae
Pg.
ae
W estern O h io R a ilr o a d ___________________________ 60 Winnipeg Electric Street Ry.— See Winnipeg
W e ste rn O h io R a ilw a y .— See W e s t. O h io R R . . 60
Electric Railway______________________ 136
W e ste rn R ailw a y s & L ig h t C o .— See Illin ois
Wlnnisimmot R R _____________________ _ 12
T r a c tio n C o ____________________________________ 21 Winona (Minn.) Ry. Sc Light Co.— See Wis
W e st In d ia E le c tr ic C o __________________________ 132
consin Ry., Light Sc Power C o ____________58
W e s t L ib e r ty & S u b u rb a n S t.— See P it ts . R y s .1 0 0 Winona Interurban_____________________ 127
W e s t L ib e r t y S tr e e t R y .— See P it ts b . & B ir m .
Winona & Warsaw Ry.— See WinonaInter__ 127
T r a c t io n C o .................................................................. 101 Winston-Salem Power Co.— Sej So. Pub. Utili
W e stm o re la n d C o u n t y R y _______________________37
ties C o __________
24
W e s t P en n P o w e r C o ____ ______________________ 104 Wisconsin Edison Co _____________________ 66
.1 0 3 Wisconsin Electric Ry.— See Eastorn Wis
W e s t P en n R ailw a y s C o ______________
W e s t P en n T r a c t io n & W a te r P o w e r C o ______ 103
consin Electric Co _____......
_122
W e st P h ila d e lp h ia Passenger R a ilw a y __________ 97 Wisconsin Gas Sc Electric________________ 67
W est R ox b u ry
R o slln d a le S treet R y .— See
Wisconsin Interurban R y .........
137
11 Wisconsln-Minnesota Light Sc Power Co _____ 58
B a y S ta te S treet R a ilw a y _________
W e st S h ore R a ilw a y _______________________________74 Wisconsin Public Service Co.— See Wisconsin
W e st S ide R R . — See E lm ira W a te r, L ig h t
Securities C o _________________________ 49
R R .....................................................................
41 Wisconsin Railway, Light Sc Power C o ______ 58
W e s t V irgin ia T r a c t io n
E le c tr ic C o __________ 110 Wisconsin Securities Co ___________________ 49
W e st W a te r S t. R R . — See E lm ira W a t.,L t.& R R 4 1
Wisconsin Traction Light Heat Sc Power_____ 67
W h a tc o m C o u n t y R y .
L ig h t C o .— S ee P u g e t
Wisconsin Valley Electric Co _____________ 129
S o u n d T r a c t ., L ig h t
P o w e r_______________ 121 Woburn & Reading— See Bay Street St.R y ___11
W h e e lin g
E lm G r o v e R R .— See W e st V ir
Worcester Sc Blackstone Valley St. Ry.— See
gin ia T r a c tio n & E le c tr ic C o ________________ 110
Worcester Consolidated Street R y _______ 130
W h e e lin g (W . V a .) T r a c tio n C o _______________ 103 Worcester Sc Clinton St. Ry.— See Worcester
W h eelin g
W estern R y .— See W h e e l. T r a c . . 103
Cons. St. R y ________________________130
W ich ita R R . & L ig h t _____________________________ 24 Worcester Sc Conn. East. Ry.— See Shore Line
W ic h it a -W a ln u t V a lle y In te ru rba n R y _________137
Electric_____________________________ 88
W ilk e s-B arre C o .— See U n ited G as
E le c ____ 83 Worcester Consolidated Street R y _________ 130
W ilk e s -B a rre D a lla s
H a r v e y ’s L a k e R y _____ 129 Worcester Sc Holden St. Ry.— See Worcester
W ilk e s-B arre G as & E le c . C o .— See U n ite d G as
Consolidated Street R y ________________ 130
E le c tr ic ________________________________________ 83 Worcester Sc Marlborough Street Ry.— See
W ilk e s-B arre
H a zle to n R a ilw a y _______________ 52
Worcester Consolidated________________ 130
W ilk es-B arre & H a zle to n R R ____________________ 52 Worcester Sc Southbridge St. Ry.— See Worces
W ilk es-B arre R ailw a y s C o ______________________ 129
ter Consolidated Street R y ____________ 130
W ilk es-B arre T e rm in a l R R ______________________52 Worcester Sc Warren Street R y ____________ 127
W IIkos-B arre
W y o m in g V a lle y T r a c t io n _____ 129 Worcester Sc Wetxster Street Ry.— See Worces
W llk in sb u rg
E a s t P ittsb u rg h S t. R y .— See
ter Consolidated Street R y ____________ 130
M o n o n g a h e la S treet R y . C o ________________ 102 Woronoco St. Ry.— See Springfield St. R y ___ 130
W llk in sb u rg
&
V eron a
S treet
R y .— See
Wyandotte Sc Detroit River Ry.— See Detroit
M o n o n g a h e la S treet R y . C o _________________102
United Railway_______________________39
W illa m e tte F a lls E le c tr ic R y .— See P o rtla n d
R y .. L ig h t
P o w e r __________________________106
W llla m o tto V alley S ou th ern R y .— See P o r t
lan d R a ilw a y . L ig h t
P o w e r________________ 106 Yadkin River Power C o ________________ 108
1 onkers R R ________________________
82
W illia m s p o rt G as C o .— See L eh ig h P o w e r
S ecurities C o r p o r a t io n ________________________
3 York County Power Co.— See Cumberland
County Power Sc Light C o ______________ 106
137
W lllapa E le c tr ic C o . . ..........................................
W illim an tic T r a c t io n C o .— See C o n n . C o ............. 73 York Railways________________________ 131
Youngstown & Ohio River R R ... ....
59
W ilm in g to n (D e l.) C it y R y .— See W ilm in g to n
C h estor T r a c t io n _____________________________ 94 Youngstown Park & Palls Street Ry.— See
Republic Ry. & Light Co ______________ 131
W ilm in g to n C it y E le c tr ic C o ..................................... 94
W ilm in g to n
C h estor T r a c t io n C o ____________ 94 Youngstown-Sharon Ry. Sc Light — See Re131
public Ry. Sc Light C o ________________
W ilm in g to n
E d g e m o r e — See W ilm .
C h e s
ter T r a c t io n _________
94 Youngstown Sc Southern Ry.— See Youngs131
town Sc Suburban R y __________________
W ilm in g ton N e w ca s tle
D e la w a re C it y — See
Youngstown Sc Suburban R y ____________..131
W ilm in g to n & P h ila d elp h ia T r a c tio n C o ____ 94
Ypsliantl Sc Saline Ry.— See Det. Jack. Sc
W ilm in g to n
P h ila d e lp h ia T r a c t io n .....................94
Chic................................ 39
W ilm in g to n S ou th ern T r a c t io n C o .— See W il
m in g to n
P h ila d e lp h ia T r a c t io n C o ________ 94
W in ch ester A v e . R y .— See C o n n . C o .....................73
W in d sor L o ck s T r a c t io n C o .— See H a rtfo rd
(Zanesville Electric Co.— See Col. Newark
S prin gfield S treet R y _______________________ 125
Sc Zanesville_______________________ 33
W in d so r & T e c u m . E le c . R y .— See S an . W in .
Zanesville Electric Ry.— See Col. Newark Sc
A m h . R y __________________________
39
Zanesville____________________________ 33
W in n ip eg E le c tr ic R y ...................
136 Zanesville Ry. Light Sc Power Co.— See Col.
W in n ip e g S elkirk
L a k e W in n ip e g R y .............. 136
Newark & Zanosvillo___________________ 33
l
S
c
S
c
S
c
S
c
S
c
S
c
Sc
c
S
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
S
c
G r a h a m , Pa r s o n s 2 c C o .
B A N K E R S
435
CHESTNUT STREET
PHILADELPHIA
Government and Municipal Bonds
Securities of Railroads, Street Railways,
Gas and Electric Light and Power Companies
of Established Value.
[Vol. 106
C A B L E
A D D R E S S
"G R A C O ".
P H IL A D E L P H IA
3
Bank and Quotation Section
Railway Earnings Section
Railway and Industrial Section
Bankers’ Convention Section
Electric Railway Section
State and City Section
W HLM ASI B .B tA N A C O M P A Q P raM tslaers.
F R O N T , P IN E A N P D E P E Y S T E R S T R E E T S , N E W Y O R K .
T
HE CHRONICLE is a weekly newspaper of 128 to 144 pages, published for the earliest
mail every Saturday morning, with latest news by telegraph and cable, from its own
correspondents, relating to the various matters within its scope.
A unique feature of the ‘ ‘Chronicle” is its
»
SIX EXTRA SUPPLEMENTS:
1.
The RAILW AY AND INDUSTRIAL SECTION, 216 pages, issued on the last Saturday
of February, June and October, containing the latest available information respecting the
property, stocks, bonds, earnings, dividends, interest payments, &c., of every Steam Railroad
of importance and of the leading Industrial Corporations, &c., in the United States.
2.
The RAILW AY EARNINGS SECTION, issued monthly, containing the sworn returns
of earnings and expenses filed each month with the Inter-State Commerce Commission. Each
new number contains an additional month’s figures. Embraces every steam operating road in
the country doing an inter-State business.
3.
The STATE AND CITY SECTION, of 300 pages, issued semi-annually, part one in
May and part two in November, containing among other things about 6,500 detailed reports
of the indebtedness and general financial condition of States, Counties and Cities; also digests
of laws relating to investments by Savings Banks, &c.
4. 1he ELECTRIC RAILW AY SECTION, of 144 pages, issued in January, May and
September, containing complete description of the Electric and Street Railways throughout the
country, their stock, dividends, bonded indebtedness, earnings, &c., &c.
5.
The BANK AND QUOTATION SECTION, a monthly publication of 64 pages, issued
the first week in each month, giving the most complete and comprehensive tables of Quotations
ever issued, embracing prices of Railroad Bonds and Stocks, Bank and Trust Company Stocks,
Municipal Securities, Street Railway Stocks and Bonds, and Industrial and Miscellaneous Se
curities.
6.
The BANKERS’ CONVENTION SECTION, issued yearly, giving the detailed proceed
ings of the annual convention of the American Bankers’ Association—not alone the general
Convention, but also the Trust Company Section and the Savings Bank Section.
A FURTHER NOVEL FEATURE is that the publishers of the CHRONICLE MAKE NO
CHARGE for any of these Supplements, but give them all to the CHRONICLE subscribers.
INVESTORS wishing to keep informed with reference to their investments,
BUYERS AND SELLERS of Bonds and Stocks of Steam Railroads,
BUYERS AND SELLERS of Bonds and Stocks of Street Railways,
BUYERS AND SELLERS of Bonds of States, Cities, Towns, &c.,
RAILROAD Executive and Operating Officials of every description,
BANKS, TRUST COMPANIES and financial institutions of all kinds.
No single copies of the Supplements are sold, as only a sufficient number is published to
supply regular subscribers to the “ Chronicle” with one copy of each issue.
S u b s c r ip t io n
P r ic e
P er Y ear
F o r t h e U n it e d S ta t e s a n d M e x ic o , i n c l u d i n g a ll S u p p le m e n t s ,
C a n a d a , in c lu d in g
-
a ll S u p p le m e n t s
F o r a ll o t h e r fo r e ig n c o u n t r ie s , in c lu d in g p o s t a g e a n d S u p p le m e n t s
$ 1 0 .0 0
11.50
13.00
File Covers.— A file cover or binder to hold the current numbers of the CHRONICLE and
its extra Sections for one volume (six months) is sold at the office at 70 cents, or sent by mail
for 80 cents, which includes the postage. Separate files for the Sections at same price.
B
o n d s
f o r
I n v e s t m
e n t
W e own and offer a comprehensive list of care
fully selected Government, Municipal, Railroad
and Public Utility Bonds which we recommend
for investment. W e shall be pleased to send
descriptive circulars to investors on request.
Send for General Circular 90 -F C
H a r r i s ,
F o r b e s
P in e
C o rn e r
S tr e e t,
N E W
&
C o
W i l l i a m
Y O R K
K U T E B OHR
O NZ R T E S
141 Broadway, New York
Bonds for Investment
Letters of Credit
Foreign Exchange
Accounts Accepted
PRINCIPAL FOREIGN CORRESPONDENTS
The London City & Midland Bank, Ltd., London
Amsterdamsche Bank, Amsterdam
Comptoir National d’ Escompte de Paris, Paris
@FedFRASER