Full text of Commercial and Financial Chronicle : May 28, 1887 : Investors' Supplement, Vol. 44, No. 1144

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OP T B S

C o m m e r c ia l & F i n a n c i a l Ç h r o n ic l e .
[ Entered according to act of Congress, In the year 1887• by ff*. B. Dana & Co., in the offioe of the ¿librarian of Congress, Washington, D. C. )

VOL. 44

NEW YORK, MAY 28, 1887.

IN V E S T O R S ’

SUPPLEMENT.

TERM S t
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W I L L I A M B . D A N A A C O .. P u b lis h e r s ,
102 William Street. New York.

RAILROAD MAPS IN THE SUPPLEMENT.
T h e ra ilroa d m aps

now

p u b lis h e d in th e S u p p le m e n t

in clu d e th e fo llo w in g roa d s.
Map .
P age .
Alabama Great Southern. See Cincinnati N. O. & T. P ....................... 36
Atchison Topeka A Santa Fe................................................ .................. 15
At lamio & Pacific. See Atchison Topeka & Santa Fe.......................... 15
Baltimore A Ohio.................................................................................... ; 18
Bud alo Rochester & Pittsburg.............................................................. 21
Canadian Pacific........................................................................................ 23
California southern. See Atchison Topeka & Hanta Fe...................... 15
Central Branch Union Paoifio. See Missouri Pacific .......................... 70
Central Pacific. See Southern Paoiflo............. ...................................... 98
Chesapeake A Ohio...................................................
26
Chesapeake Ohio A Southwestern. See Chesapeake A Ohio............... 26
Chicago Milwaukee A St. Paul........ ............
29
Chicago A Northwestern......................................................................!. 31
Chicago St. Louis A Pittsburg. See Penn. U R........... .......... .
85
Chicago St. Paul Minn. A Omaha. See Chicago A Northwestern..” ! 31
Cincinnati Indianapolis St. Louis A Chicago................ .................. .
34
Cincinnati New Orleans A Texas Paoiflo...................................... 36
Cincinnati Washington A Balt. See Baltimore A Ohio.......... ....... i s
Columbus Hooking Valley A Toledo....................................................... 38
Delaware Lackawanna A Western............................. .................. . . ” 41
Denver A Bio Grande.............. ................... 1................................. .
42
Detroit Bay City A Alpena........................................................................ 44
Duluth south Shore A Atlantic............................................................... 45
Dubuque & Sioux City. See Illinois Central........................ . . . ! " ! ! ! . " ! 53
East Tennessee Virginia A Georgia........................... ............... . . . . . . . 47
Elizabeth. Lexington A Big Sandy. See Ches. A O hio...............26
Erie A Pittsburg. See Penn. ER............................................................ 85
Fort Worth A Denver C ity ..............................................!.*"!!.*.*.""*' 49
Galveston Harrisburg A San Antonio. See Southern Paoiflo.".*?."!! 98
Grand Rapids A Indiana. See Pennsylvania RR................................. 85
G ili Colorado A Santa F e .............................. .......................... ! . . . ! ! ! ! ! 50
Houston A Texas Central. See Southern P a oiflo..!!.!!!"!!!!!!* !!
98
Illinois Central...................................................... ..............! .................. 53
international A Great Northern. See Missouri Pacific . . . . ! !. ! ! ! ! ! ! ! ! 70
Jacksonville Tampa A Key West.............................
55
Kentucky Central. See Ches. A Ohio........ ........ . . ! ! . ” .".” .*............... . 26
Lake Erie A Western........................................
' .
............. 57.
Louisville A Nashville..................................60
Louisville New Albany A Chicago................. .".!._!!!!".!"...................... 63
Louisville New Orleans A Texas......................*."......... " .........
34'
Memphis A Charleston. See East Tennessee Virginia’ *<fc Georgia* *" *! 47
Milwaukee A Northern.........................................
e
67
69
Minnesota A Northwestern..........- . . - I ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !
Missouri Kansas A Texas. See Missouri Pacific.................................. 70
Missouri Paoiflo...................... . .
.............................. 70
Mobile A Ohio............................... ! ” ! ! " ! ! " ! ” " " ! ! ! " ! " " ! .......... !" 72
Nashville Chattanooga A St. Louis. See Louisville A Nashville 1111! 60
New York Lackawanna A Western. See Del. Lack. A West
41
New York Ontario A Western.....................
.......... r 7«
Norfolk A Western..................
..............................................
Northern Central, «es Penn. B r !!!1
....................................... q%
Northern Pacific...................
................ ......................... an
Orange Belt........................ ........ . . . . . 1 1 . 1 ....................................
ao
Oregon Short Line. See Union P acific."!"."*!...................................... lo 4
.....................................
Pennsylvania................................................
Philadelphia A Erie. See Penn R R ........ .’.Y.*!!"!...........................*” 85
Pittsburg Cleveland A Toledo. See Baltimore & O hio........................ 18
Pittsburg Cincinnati A St. Louis. See Penn. RR ........ ......................... 85
H1-Wayne A Chicago. See Penn. RR ....."111!."*
........ 85
Baltimore A O hio...
........................... 1»
Rome Watertown A Ogdensburg.......... . . . . 1"11"11*.*1!................... 90
8?eil^ni<
r 8®Norfolk & Western........................I !’ .!!* ’ * 78
ot.
Louisl0t
AìaValì?Z'
San Francisco
0°
Louis Arkansas A T e x a s ..I " .* " ." !.* " " !.......................................... 90
St. Paul Minneapolis A Manitoba.....
......................................... or
Southern Pacific.......
XX
Toledo Ann Arbor A North* Mich ’ ***................................ ......................100
Ä S b
‘¿ T ol edo : : : : »a
SSo“ Ä
“ c' * ■
Central. S e e U id o n P ^ iflilllli:;;;........................... ..............
Utah A Northern. See Union Pacific.....................................................iX i
Vicksburg Shreveport & Paoiflo. See Cinn. New Orleans A Tex! Pao! 36




RATES OF INTEREST ON RAILROAD MORT-

• GAGES
There is one feature of our extensive railroad building
that merits special attention. "We are building on a scale
hardly ever before equaled, single companies building at
the rate of two and three miles a day, some of them even
calling the electric light to their aid, so as to be able to
prosecute the work at night as well as in daytime. Amid
this extensive construction of new road, one feature stands
out pre-eminent, namely, the greatly reduced rates of
interest (as compared with former periods) at which the
loans necessary to supply the means for carrying on the
new undertakings are put out.
One has only to note the high rates of interest in the
bonds now falling due or soon to mature— bonds put out
ten, fifteen or twenty years ago— and contrast these figures
with the terms on which the same or similar companies
borrow money to-day, to see clearly the difference in this
respect, and understand and appreciate its significance.
Prior to 1873 6 per cent was the minimum; to-day it is the
maximum. A t the former period 7 and 8 per cent was a
common experience, and even 10 per cent was not unu­
sual. Now 6 per cent is exceptional, 5 per cent more
nearly the average, 4 per cent and 4£ per Cent quite com­
mon, while one company is issuing bonds at only 3^ per cent.
Looking over the list we find all the old Atchison’s
divisional bonds bearing 7 per cent, many of them issued
less than ten years ago. The Boston & Albany in 1872
placed a five million twenty-year loan at the same rate of
interest. The Central of New Jersey was paying 7 per
cent at a time when its stock was earning and receiving
regular dividends. The same rate was paid by the Chicago
& Alton and the roads in its system, like the Sti Louis
Jacksonville & Chicago and the Louisiana & Missouri
.River. The consolidated mortgage of the Chicago Bur­
lington & Quincy, issued in 1873, also bore 7 per cent,
while the company is even yet paying 8 per cent on half a
dozen old branch or sectional mortgages which still remain
unmatured. A ll the St. Paul’s old mortgages are 7s, some
as recent as 1878, while the Prairie du Chien lsts (1868)
are 8s. The Chicago & Northwestern has a great variety
of old 7s, and one 8 (Iowa Midland issue). The Kansas
City & Cameron bonds of the Hannibal & St. Joseph
(dated 1867 and having 25 years to run) are 10 per cents.
Both the consol. 1st mortgage of 1870 and the consol. 2d
mortgage of 1873 of the Lake Shore bear 7 per cent
while several of the old sectional issues bear 8 per cent.
The Lehigh Valley has some 7s issued in 1870, while the
Louisville & Nashville has a number of different issues
still out at that figure. The Michigan Central finds itself
obliged to pay 8 per cent on no less than four old divisional
issues, while the consol, mortgage of 1872 was originally

IN V E S T O R S ’ * S U P P L E M E N T .

9

(Y o u X U V .

T h e N orfolk & W estern still has

It w ill be interesting now to note som e new m ortgages

som e divisional 8s out, w hile the adjustm ent m ortgage^ o f

issued on term s still m ore favorable to the borrowers.

1884 was at 7 per cent.

put out at 7 per cent.

The old Ohio & M ississippi bonds

A s bearing on this point, quite a num ber o f com panies

are a ll 7s, w hile the three issues o f Pittsburg F ort W a y n e

can be singled out which pay no m ore than 4 per cent for

& Chicago bonds were all put out in 1862 and are likew ise

their new loans.

7a

the B urlington & Q uincy extension to St. Paul— issued 1st

The St. L ou is A lto n & Terre H aute bonds were issued

in the sam e year, and bear the same rate.

The Chicago B urlington & N orthern—

The U nion

m ortgage 5 per cents, and, subsequently, to com plete the

Pacific has nearly fifteen m illions o f 8s still out— the sink­

work o f construction and equipm ent, put out som e deben­

in g fund bonds

tures bearing 6 per cent in te re st; but the B urlington &

of

1874.

A n d so we m igh t m ultiply

instances to show how general these higher rates were a

Q uincy itself, on its own issues, has no difficulty in secur­

decade or m ore ago.

in g m oney at 4 per cen t; and that has been the rate in the

I t is particularly to be noted that

the cases we have cited are not those o f m inor or in sig­

new bond issues for som e years.

nificant roads, bu t all prom inent and large com panies,

m ortgage, fo r instance, is a 4 per cent.

em bracing leading trunk lines and m any o f the principal

N ebraska extension m ortgage.

W estern system s.

an extensive issue, though the com pany stipulates that the

In

other words, the illustrations we

have chosen are representative ones, and thus reflect cor.
rectly the course o f interest rates in railroad m ortgages in
form er eras.
As

«

The D enver extension
So is the new

This latter is to b e quite

am ount for 1887 shall not exceed the present 12 m illions.
The Chicago & N orthw estern is another com pany which
has recently put out a large am ount o f 4s fo r new construc­

against such rates, the interest figures in^railroad

tion purposes.

The trust was created last year, and pro­

m ortgages to-day represent a vast degree o f progress and

vides for a total issue not exceeding $ 2 0 ,0 0 0 ,0 0 0 , to be

im provem ent.

known as Chicago & N orthw estern extension bonds of

W e need not refer to cases o f old roads o f

exceptional credit,
like the N ew

w anting m oney

Y o rk

N ew H aven

&

fo r

improvements^

H artford, which as

1886, and to be secured (as in m ost cases o f this kind) by
a deposit o f 1st m ortgage bonds on new road built.

The

early as 1883 issued a 4 per cent loan, nor to cases like

rate o f interest is not to exceed 5 per cent, and all the

those o f the prior lien

bonds issued thus far (over 8 m illion dollars have been

bonds o f the E rie, where as the

bonds m ature they are extended at a low rate o f interest,

issued) have been put out at 4 per cent.

retaining the sam e lien

N or

o f this com pany a direct and striking illustration o f the

need we refer to the m any low -rate bonds issued by reor­

reduction in interest rates is afforded by contrasting the

ganized com panies after previous default.

present rate o f 4

on the property as before.

These w ould

In the case

per cent w ith that o f 6 per cent in a

hardly answ er as types show ing the reduced charges at

sim ilar trust created in

w hich new construction w ork is being carried on.

F or

only $ 1 5 ,0 0 0 ,0 0 0 , and it was because the lim it under it

t.Viiw purpose we m ust take the bond issues o f som e o f the

had been reached that the new trust was created. It should

larger W estern and

be said that the im provem ent in

Southw estern

roads, which are now

extending their m ileage at such a very rapid rate and put­

1879.

Th is 1879 trust was for

the road’s borrow ing

capacity has been gradual, for all the bonds issued under the

tin g out additional loans to pay for the same, and here we

old trust did not bear 6 per c e n t; after som e six m illions

find a very favorable state

bonds had been issued, the rate on the rem ainder was placed

The A tch ison

Topeka

of

things.

& Santa F e is doing all its new

5 per cent.

construction w ork at

The Chicago division

no higher than 5 per cent.

Thus the N orthw est has been

steadily w orking down tow ards low er figures, as its credit

(C hicago Santa F e & C alifornia), the new roads in Kansas,

and circum stances im proved.

bu ilt under the charter of the Chicago Kansas & W estern ,

from 7 to 6, then from 6 to 5, and now from 5 to 4 per

and the G u lf division o f the

cent.

bonded in 5 per cents.

Southern

The St. L ou is &

Kansas, are all
San

F irst we see it reducing

Francisco^

B ut the N orthw est and the B urlington are old estab­

w hich is a sort o f join t partner w ith the A tch ison in som e

lished com panies o f excellent financial standing and wide

5 per cent, the repute.

o f its undertakings, is also borrow ing at

Texas extension having been bu ilt w ith general m ortgage

W h a t shall we say when we find a new com pany

which did not com e into existence till 1879, and then was

6 per cents— the bonds originally issued under th is m ort­

form ed by a reorganization o f roads previously in default

gage, when it was m ade in 1881, were 6 per cents.

— w hat stronger evidence o f the ability o f our railroads

Chicago R ock Island & Pacific is also ju st now

to borrow on im proved term s than when we see a company

doing m uch new w ork, and early in the year negotiated 10

The

o f this kind issuing bonds fo r new w ork at 4 per cent

m illion

interest.

of

dollars

1884

L oeb

&

w ith
Co.

bonds bear

5

first m ortgages

of
the
and

its

extension

M essrs.
J.

&

and collateral bonds

Brow n

W .

Seligm an

per cent interest,
on

the

new

Brothers,

and

road

K uhn

& Co.

are
built.

The

secured by
The

C hi.

cago M ilw aukee & St. P aul is likew ise borrow ing at

toba.

W e refer to the St. P aul M inneapolis & M ani.

O f course since its organization the M anitoba has

been greatly enlarged and extended, so that it has now
becom e a prom inent system , w hile at the sam e tim e it has
been unusually successful and prosperous.

The 4 per cent

5 per bonds which the M anitoba has issued cover the extension to

cent, over ten m illions o f bonds at that rate having been put

G reat Falls, M ontana; only seven m illions w ill be issued

out during 1886. The Kansas C ity extension is being built

ju st now, dated June 1 ,1 8 8 7 , bu t the m ortgage is to cover a

w ith 6 per cents, and there is a great num ber and variety

total issue o f 25 m illion dollars— at a rate not exceeding an

o f divisional m ortgages w ith

average o f $ 2 5 ,0 0 0 per m ile.

interest at the sam e figure.

Stockholders were offered

C om ing nearer hom e, we find the N orfo lk & W estern ,

the righ t to subscribe for these bonds at 80 .

w hich has been accustom ed to pay m uch higher rates, and

toba is pushing this M ontana extension w ith marvelous

w hich

rapidity— probably in a way and at a rate never before

is not a corporation o f the m agnitude o f m any

W e ste rn

com panies— this

com pany

has

ju st

placed

5 per cent bonds for building the C linch V a lle y road

equaled.

Three crews o f m en are em ployed during the

tw enty-four hours, and w ork is prosecuted both day and

to a connection w ith the L ou isville & N ash ville system . n ight.
B u t in reality the list o f 5 per cent obligations ,m ight be

The M ani­

In this w ay it is believed five m iles o f track can

be laid every day.

extended indefinitely, hardly any corporation o f prom i­

The m ost striking exam ple o f ability to borrow on low

nence issuing ^new^ m ortgages now at a higher rate^than

rates, how ever, is that o f the Illin o is C entral, whose latest

that

bond issue bears only




per cent interest The company

IN V E S T O R S ’

V o l . XLIV.]

came down from 6 to 5, then to 4, and now to 3-J-.

3

SU PPLEM EN T.

Som e

know n all over the w orld as a field fo r profitable enter­

Southern divisional bonds o f the Illin ois Central are still

prise, and this naturally m akes outsiders m ore disposed to

out, bearing 8 per cent interest, though o f course these

com pete w ith our own people for U n ited States invest­

were placed long before the Central becam e identified with

m ents.

the property.

gages is the result not o f any one cause but o f a variety o f

The 3$s do not yet sell at par, but neither

do the 4 s o f some o f the com panies m entioned above.

H ence the low ering o f interest in railroad m ort­

causes.

Thus the Chicago Burlington & Q uincy extension bonds

This change to low er rates is beneficial to our railroads

were issued at 98 and accrued interest, and the extension

in a num ber o f ways.

48 o f the N orthw est sell at about 97.

liability to default.

In the first place, it dim inishes the

Ten m illions four or five per cents

A m on g the Eastern trunk lines, the Baltim ore & Ohio is

require an annual charge o f only $ 4 0 0 ,0 0 0 or $ 5 0 0 ,0 0 0 pei

building to Philadelphia and N ew Y o rk , and gets the means

annum , w hile the same am ount o f 7s or 8s w ould call fo r

fo r the work by the issue o f bonds at 4-£@ 5 per cen t; and

$ 7 0 0 ,0 0 0 or $ 8 0 0 ,0 0 0 per annum — an "im p ortan t saving.

the Pennsylvania— alw ays busily at work strengthening its

W ith this saving com petition can be better endured, and

local business and connections— is m aking stock allotm ents»

there is less likelihood o f a road being pushed to the w all

and obtaining funds in this w ay, though we m ay say that

by it.

the latter com pany’s trust loan o f 1883 is a 4 £ per cent

it enables m any large com panies to undertake the work o f

obligation, and there is also a

per cent loan on the

W estern lines o f the same system .
To-day no railroad would
on

a bond,

even

B ut the m ost im portant aspect o f the case is, that

building new branches, feeders and extensions, w ho w ould
otherw ise be debarred from

offer m ore than 6 per cent

if the enterprise lacked m erit.

To

doing so— the charge to be

incurred at the higher rates would be too great.

A n d it

is significant that the bulk o f the present new construction

offer m ore than that would be sure to excite suspicion and

is bein g done by large com panies o f am ple resources and

distrust.

large earnings.

Y e t it is not so very long ago, as we see, that 7 or 8

per cent had to be paid to m ake it an inducem ent for
m oneyed people to take the securities.
ence?

W h y the differ­

O bviously because the situation o f affairs has com ­

pletely changed.

In the earlier period railroads were an

Should the expectations entertained w ith

regard to this m ileage fail to be realized, these com panies
are in position to bear the burden im posed b y it till the
grow th o f traffic m akes it self-sustaining.

In the m ean­

tim e a w ider range o f territory is opened up, which is sure

experim ent— at least they were, on the scale in which we

to profit the general industries o f the country, and in the

were building them .

end also
w ork.

The providing o f new avenues o f

com m erce had never before been attem pted on an equal
m agnitude.

N ow they have passed the experim ental stage.

the

particular

engaged

in

the

There is still another aspect in which this reduction o f

They have dem onstrated their ability to supply them selves

interest is im portant.

with traffic— their sustenance.

ing upon the future.

Moreover, the country itself has acquired solidity and

com panies

W e m ean in reference to its bear
W ith in the n ext ten or fifteen years

a vast am ount o f indebtedness at high rates w ill m ature,

strength, and this is another elem ent that has contributed

and this o f course the com panies can renew at m uch low er

to'red u ce the rates o f interest.

rates.

B oth our external and

internal trade has assumed gigantic proportions.
n o ’ longer a question whether

the

country

It is

can

B y the extent o f the difference the am ount at the

disposal o f the stockholders annually w ill be increased, not

sup­

necessarily fo r dividends, but to strengthen and im prove

port the railroads, but whether the railroads w ill supply

their properties and m eet increased com petition and low er

all the needs o f the country for cheap and quick transpor­

rates for passengers and freight. It is not generally under­

tation.

stood how

There being thus no doubt that profit and success

await prudent railroad m anagem ent, and all the country’s
affairs being on a m ore solid basis, loans are obtained with
greater facility and on easier term s.
w illing to accept low er rates.

The foreigner is

The risks, the hazards

attending earlier efforts, required corresponding profits.
These risks and hazards no longer exist in the sam e degree
or kind.

N ow the buyer has only to determ ine whether

the particular project in which he is asked to place his
money is likely to succeed, and not whether railroads,

se,

are likely to prove successful.

per

This has largely changed

the character o f foreign ownership in A m erican railroad
property.

It is not alone the venturesom e, and persons

w illing to run risks in the hopes o f large gains, who are
now represented, but that large class also w ho buy sim ply
for investm ent.

Besides, we have been accum ulating great

wealth ; that, too, m ust be invested, and m uch o f it now
lies in railroad stocks and bonds.

M oreover, with the

developm ent o f greater stability in all our industries, cap­
italists and investors have becom e w illing to accept lower
remuneration for the use o f m oney.
is sm all everywhere.

The m argin o f profit

A n d w ith this the tendency in other

branches, it would be strange indeed if the railroad indus­
try proved an exception to the rule.

It should also be

rem em bered that now our m onetary system is on a gold
basis, w hile prior to 1879 it was on a paper basis, uncer

great a reduction in interest rates is lik ely

to result in the case o f particular bonds and roads.

A t the

beginning o f this article we pointed out that such prom i­
nent com panies as the L ake Shore, the M ichigan Central,
and the B urlington & Q uincy, all still have som e old 8 per
cent
be

bonds outstanding.
extended

saving

of

at
ju st

paid on them .

4

And

per

one-half

if

cent,
the

these bonds
there

w ould

interest

at

should
be

a

present

A s illustrating the effect on particular

com panies, w e m ay m ention the case o f the St. L ou is A lto n
& Terre H aute.

The w hole o f this com pany’s direct debt!

com prising six distinct issues, falls due in 1894.

L eavin g

out the dividend bonds, which bear 6 per cent interest if
earned, and on w hich nothing is bein g paid, all the rem ain­
in g issues bear
of

and receive

7 per cent.

these latter being $ 6 ,7 0 0 ,0 0 0 ,

should

The am ount

if at m aturity th ey

be replaced b y bonds bearing even 5 per cent

interest (the Cincinnati Indianapolis St. L ou is & C hicago
proposes to fund

its debt at 4 per cent)

w ould be $ 1 3 4 ,0 0 0 per year.

the

saving

H ow im portant tbia w ould

be to a com pany having only $ 2 ,3 0 0 ,0 0 0 o f com m on stock
and $ 1 ,3 5 7 ,0 0 0 o f dividend bonds (there is also $ 2 ,4 6 8 ,4 0 0
o f preferred stock, bu t th is until the late year received
dividends) can easily be im agined.

O f course this is an

extrem e case, bu t it serves as a strikin g instance o f the
possible effects later on o f the cheaper rates at which rail­

and precarious ; and fo r this the railroads had to pay
roads now borrow m on ey.! *In m ost other cases the saving
(m higher rates o f interest and other ways) as well as
every one else.

w ill com e gradually, a sm all am ount o f bonds m aturing in

F in ally,;th e U nited States has, becom e each year.




STOCK AND BOND TA BL ES .
NOTES.
These tables are expressly intended to be used in connection with the information concerning investment matters published from week to
week in the Chhonicle—to which an index is furnished in the remarks on each page. Annual reports are in black-faced figures.
The following will give explanations of each of the columns of the tables below:
. _
Description. —Railroads leased are sometimes given under the lessee’s name. Abbreviations used are: M. for “ mortgage, s. f. for sinking Tuna,
1. gr. for “ land grant?,” reg. for “ registered.” coup, for “ coupon,” hr. for “ branch,” guar, for “ guaranteed,” ena. for “ endorsed.
Pate o f bonds.—The date of issue is referred to in this column.
Miles o f Road.—0|
Site or Par Value. I______ _________________________________________________________
(______________________
.Kate Per Cent. - The interest per annum is given for bonds, but the per cent of last dividend for stocks; g means gold; x. extra: s. stock or sonp.
WHtn Payable.—J. & J. stands for Jan. A July; F. & A.. Feb. & Aug.; M. & 8., March A Sept.; A. & O., April A Oct.; M. & N., May & Nov.; J. & £>.,
June A Dec.; Q.—J., quarterly from January; Q.—F., quarterly from Feb.; Q.—M., quarterly from March.
j
Bonds, principal when <>ue; Slocks, last dividend.—The date in this column shows the period when the principal falls due of bonds, but the time
when the last dividend was paid on stocks. ___________________________________________
U N IT E D

DESCRIPTION.

STATES

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

BO N D S.
INTEREST.
Rate.

When
pay’ble

Where payable and by
whom.

4s of 1907, coup, and reg., incl. refund, oertfs. 1870 A ’71 $50Ac. $737, 975.250 4, coin. Q.—J. U. S. Treasury A Sub Treas.
do
do
50Ac. 250, 000,000 4*2, coin. Q - M .
4ias of lf*91, coupon and registered.................. 1870 A ’71
do
do
42, 079.950 3, coin. Q.—F.
8 per cents, reg., including Navy Pension, fd ... July 12,’82 50Ac.
U. S. Treasury.
J. A J.
6
J’y ’62A’64 lOOOAc.
64, 623,512
All the Government bonds except the currency sixes are redeemable
In coin, the sort of coin not being specified. The fours and four and a
halts are issued in bonds of $50, $100, $500 and $1,000, both coupon
and registered issues, and the registered bonds also in pieces or $5,000,
$10,000, $20,000 and $50,000. The three per cents are redeemable at the
pleasure of the Government. The United States currency sixes are all

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

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

STA TE
S E C U R IT IE S .
Subscribers w ill confer a great favor by givin g im m ediate notice of any error discovered in tbese 'Fables»
DESCRIPTION.

Date of
Bonds.

Size or
Amount
par
Outstanding
Value.

Rate.

INTEREST.
U
S
Where Payable and by
When
Whom.
Payable

Principal—When
Due.

July 1,1906
J. A J. N. Y., Am. Exch. Nat.Bk.
4
$100 Ac. ¡$6,747,900
1876
Alabama—Substitution bonds (A) ($7,000,000).
July 1,1906
do
do
J. A J.
5
539,000
1876
100 Ac.
Substitute b’ds for RR. (B) ($596,000)...........
July 1,1906
do
do
J. A J.
4
953,000
1876
100 Ac.
do
for Ala. A Chatt. (C) ($1,000,000)
Jan. 1, 1900
Montgomery.
J. A J.
954,000
6
1880
Funding “ obligates” (tax-rec’ble 10-20 yrs.).
1899
J. A J.
1,359,000
6
1869 to ’70 1,000
Arkansas—Funding bonds of 1869 and 1870
1900
....
1,268,000
6
1,000
1870
Funding Bonds 1870 (Holford)........ . .......... .
1900
J. A J.
1,986,773
7
10Ó Ac.
1871
Levee bonds (or warrants)........................... .
1860
J.
A
J.
2,491,023
6
1,000
1838
t
o
’39
Old debt, Including interest to 1884............
1899
A A O.
1,000
1,200,000
7
1869
To Memphis A Little Rock Railroad........... .
1900
A
A
O.
1,000,000
1,000
7
1870
To Little Rock A Fort Smith Railroad........
1900
A. A O.
1,000
1,200,000
7
1870
To Little Rock, Pine Bluffs A N. Orleans R R..
1900
A.
A
O.
600,000
7
1,000
1870
To Miss., Ouachita A Red River Railroad
April,
1900
A A O.
1,350,000
7
1,000
1870
To Arkansas Central Railroad..................
July,
1887
Sacramento,
Treasury,
J.
A
J.
250,000
7
g.
1872
California—State Capitol bonds................
189394
do
do
2,698,000
500 Ac.
1873
6 g. J. A J.
Funded debt bonds of 1873
M a y l, 1897
Hartford, Treasury,
M. A N.
1,030,000
5
1,000
1877
Connecticut—Bonds, 10-20 y e a r ..........I Coup.
Jan.,
1903
do
do
500,000
3Jfl J. A J.
1,000
1883
New bonds (sink, id.) not taxable__ j or reg.
Jan. 1.1903
do
do
1,000
1,000,000
3 1« J. A J.
1884
do
New bonds, reg.
do
Oot. 1,1910
do
do
A. A 0.
1,000
1,740,000
3
1885
New bonds, coup, or reg...................................
18 9 1,19oi
Phila.,
Phila.
Nat.
Bank,
J.
A
J.
4
625,000
1,000
1881
Delaware.—Refund’g bds., ser. “ A,” “ B” A “ C!
June
1,1905
do
do
J. A D.
4
120,000
1885
Bonds, redeemable after June 1,1895..........
Jan.
1, 1901
....
156,750
6
School b on d s.....................................................
July
1,
1891
3,276,500
500 Ac.
6 g. J. A J. Wash, or N. Y., U. S. Treas
1872
Dist. o f Columbia- Perm’t imp’t, gold, coup—
Jan.
1,
1891
do
do
J.
A
J.
623,000
7
100
Ac.
1873
Permanent improvement bonds, coupon........
July
1,
1899
do
do
J. A J.
943,400
5
100 Ac.
1879
Bds for fund’g (Act June 10, ’79) coup, or reg
Aug. 1, 1924
do
do
F. A A.
3*65
1874
50 Ac. 14,033,600
July 26,1892
do
do
J. A J.
146,150
7
50 Ac.
1872
Market stock, registered and coupon............. .
Oct.
1,1901 A ’03
do
do
J.
A
J.
375,000
7
Water stock bonds, coupon.............................. . 1871 t o ’73 1,000
1892 A 1902
do
do
1,628,150
100 Ac.
1872
6 g. J. A J.
Wash, fund’g, gld,($628,800 are M.AN.,1902)
Jan.
1, 1901
N.
Y.
.Park
Bk.
A
Tallahassee
Jan.
280.100
100
7
1871
florida—State bonds........ .................................
Jan. 1,1903
do ’
do
100 Ac.
6 g. J. A J.
1873
7*7,300
Gold bonds.......... ..............................................
Oot.,
1890
N.
Y.,
Fourth
National
Bk
Q.—J.
2,098,000
1,000
7 g.
1870
May, 1892
do
do
J. A J.
307,500
7
1872
50Ò Ac.
Bonds, act of Jan. 18, ’72.
July
1,
1896
do
do
J.
A
J.
542.000
7
1,000
1876
Jan. 1, 1889
do
do
J.. A J.
6
1,000
2,141,000
1877
July
1,
1915
New
York
A
Atlanta.
J.
A
J.
3,392,000
4L¡
1,000
1885
Funding bonds, coup. Act Deo. 23, ’84.
1932-33-34-35.
....
254,000
7
1882 A ’83
State University Bonds..........................
1895
N.
Y.,
Winslow,
L.
A
Co.
.
.
.
.
33fl
1,685,000
1885
Indiana—Temporary loan........................
Various
3,904,783
6
1867 to ’73
School fund bonds (non-negotiahle).......
1887*t o ’95
J. A J. N. Y., First Nat. Bank,
824,500
7
1864 to ’75 100 Ac.
Kansas—B’ds for State purp. >$574,500
1887 to ’99
do
do
J. A J.
7
206.000
1866 t o ’6S
1905
New
York
City.
4
.
.
.
.
500,000
1884
Kentucky—Bonds, gold.
1894-96
....
174,000
....
1864 t o ’66
Military bonds..........
A lab am a .—The “ A” bonds bear 5 per cent after 1896. Alabama $300,000, redeemable July, 1886 to 1891: series “ C,” $165,000. redeem­
A Chattanooga endorsed bonds were exchanged for $1,000,000 of able July, 1891 to 1901. In addition to above, $83.000 is due Delaware
the new bonds, Class 0. In 1880 the new 6 per cent bonds were College. There is no State tax levied, nor assessments made.
D istrict o l C olu m b ia.—The interest and sinking fund on the 3-65
issued to retire old 8 per cent “ State obligations.” Analysis of the
debt and funding of 1876 was given in the Chronicle, V. 24, p. 28. bonds are provided for by Congress, and the amount is limited to
For the $2,000,000 of State 8 per cent bonds issued to the Ala. A Chatt. $15,000,000. Real and personal estate, Ac., assessed as follow s: 1884,
RR. under act of Feb. 11, >1870, the State gave the lien on the lands real estate, $90,496,331; personal, $10,987,443; tax rate, 15; 1885, real
granted to that railroad, 500,000 to 1,200,000 acres. The 10-40’s of 1880, estate, $93,491,891; personal, $12,715,686; tax rate, 15; 1886, real es­
due in 1900, may be oalled at par after 1890. The assessed valu­ tate, $96,054,301; personal, $12,532,997; tax rate, 15.
ation of real estate and personalty was $152,920,115 in 1881, $158,F lo rid a .—The sinking funds hold $218,800 of above bonds, and the
518,157 in 1883 and $172,528,933 in 1885; tax rate 6 mills.
school, Ac., funds held $625,500 more, leaving outstanding $430,700.
A rk a n sas.—The State Supreme Court decided Levee bonds of 1869 Coupons of all bonds are receivable for taxes. Real and personal property
and 1870 invalid; nor are the Holford or the Railroad Aid bonds recog­ assessed in 1883, $55,008,560; tax rate 4 mills in 1884, $60,042.65o;
nized by the State. The State is in default for interest. In Jan., 1883, tax rate 4 mills. Assessment in 1886, $76,611,409; tax rate, 4 mills.
a decision was made by the U. S. Circuit Court, substantially holding
G eorgia.—The constitutional amendment in 1877 declared void
the railroad companies responsible for the State bonds issued to them, several issues of bonds and railroad endorsements. The 41a p.o. bonds,
but this was reversed and the case appealed to U. S. Supreme Court. of 1885 were sold to take up other bonds maturing in 1885 and 1886.
The following are official assessments:
Tax rate, 3 ^ mills. Assessed valuations have been:
Real Estate.
Personal. Tax RateYears.
Real Estate.
Personalty.
Railroads.
1884 ......................$174,452.761
$120,432,609
$22,183,901
1883 ................ . ..................... $78,444,227
$48,382.167
119,200,739
23,000,294
1885 ......................... 179,946,059
1884
................ ............... 81,649,415
50,403,842
7
52,133,530
4
1885 " ........ ................... ....... 82,273,095
1886 (tot.valuat’ns) *------------------------ $329,489,505---------------------------'
—(V. 44, p. 421.)
In d ia n a .—There are also outstanding $340,000 5 per cent bonds
C alifornia.—The State hoids in trust for School and University funds due 1901, held by Purdue University; $60,000 State University bonds
$250,000 Capitol bonds and also bonds of 1873, in all $2,494,500, held by Treasurer, and about $18,000 miscellaneous issues of bonds.
leaving only $458,500 in private hands. Assessed valuations and rate Valuation in 1885, $793,526,079, Valuation in 1886, $794,696,597.
of tax p e r $ l,000 have been;
,
m
^
K a n sa s.-Kansas has but a small State debt, but the issue or municipa 1
Years.
Real Estate.
Personal. Tax Rate. bonds was about $19,397,851 Jan. 1, 1887. Population in 1884, 1,135,1884
.............................$654,990,072
$166,614,631
$452 614; in 1887,1,500,000. The valuations (about one-half of true value)
1885!................................ . 688,311,102
171,201,282
5-44 have been:
--- '• ; ' -■-* - Total
Real
Personal
Rate of Tax
Connecticut.—The debt of Connecticut was all created originally for
Debt.
Years.
Estate.
Property.
per $1,000. $874,500
war purposes. Assessed valuation and tax rate per $1,000 have been:
Years.
Real Est. A Personal.
Tax Rate. 1 8 8 4
..... >.$180,623,238
$56,390,518
$4 50
1882 ................................
$342,242,566
$1’25 1 8 8 5
........ .................247,371,645............. .
.........
830,500
1883 .......
348,774,879
I ’25 1886
........
277,113,323
4 10
1 8 8 4 ! ::!! !!! !.! ...............
349,977,339
1-25
K e n tu c k y .-»Against the bonds as above the sinking fund held
The assessed valuation of real estate is about 70 per cent of the true value. $711,346 June 30,1885. Valuation in 1884, $377,888,542; in 1885,
D elaw are.—These refunding bonds issued July, 1881, take up out­ personal, $96,838,919; real estate, $293,989,044; total valuation.
standing debt. Series “ A ” are $160,000, redeemable 1886; series “ B,’ $390.827,963.




STATE SECURITIES.

H a t , 1887.1

a

Snb»criber« w ill confer a great favor by givin g im m ediate notice o f any error discovered la these Tables.
DESCRIPTION.
For explanation see notes on fire? page of tables

Date of
Bonds.

Size or
Amount
par outstanding
Value.

Louisiana—Relief of State Treasury and mlscel.
1853
$500
Bonds in aid of various railroads.....................
1,000
Bonds to Boeuf A Crocodile Navigation C o...
1870
1,000
do to Mississippi & Mexican Gulf Canal..
1869
1,000
do school, held by St. Treasurer...............
1857
1,000
do to N. Orleans, Mobile & Chatt. RR.......
1870
1,000
do to N. Orleans, Mobile A Texas RR........
1871
1,000
N. O. Mob. A Texas R R bonds, end. by State
1869
1,000
Consolidated funded bonds(stamped 4 per ct.
1874
100 Ao,
“ Baby” bonds, threes.......................................
1880
Maine—Bounty loan bonds..................1 Coup.
1864
500 Ac
Municipal war debt assumed............J or reg
1868
100 Ac
Maryland—Baltimore & Ohio Railroad, sterling
1838
Chesapeake & Ohio Canal, sterling..................
1838
Railroads and canals........................................ 1838-47
Eastern Shore Railroad.....................................
1839
Baltimore A Susquehanna Railroad................
1837
Baltimore & Susquehanna Railroad................
1839
Annapolis & Elkndge Railroad........................
1839
Defense redemption loan...................................
1882
Deaf and Dumb Asylum Loan........ ................. 1870 A ’74
Maryland State Loan........................................
1872
Treasury relief loan, 10-15 years.....................
1878
Exchange loan of 1886 ...................................
1886
Massachusetts—Bounty Fund Loan.....................
1864
500 Ao
do
do sterling...............................
1864
£100 Ac
War Loan, sterling.............................................
1869 .
£200
Troy & Greenfield Railroad loan, sterling....... 1858 to ’61 £200 Ac
do
do
home ......... 1861 t o ’63 500 Ac
do
do
sterling........
1871
200 Ao
do
do
sterling........
1875
£500
do
do
dollar bonds 1873 t o ’74 1,000
do
do
do
1875
1,000
do
do
do
1877
10,000
Southern Vermont Railroad Loan................... |
1860
5.000
Boston, Hartford A Erie Railroad, sterling
1868 to ’69
£200
Harbor Land Improvement (5-20s).............
1874 A ’76 1.000
Danvers Lunatic Hospital........................... .
1874 & ’77 1,000
Lunatic Hospital, W orcester.................
1875-’76
1,000
New State Prisons, sterling...........................
1875
£500
Michigan—War Bounty Bonds......................
1865
1,000
Minnesota—Adjustment bonds, (10-30, red., 92
1881
1,000
Revenue loan (redemption optional)....
1883
1,000
Missouri—Consolidated bonds...................
1868
1,000
University and Lunatic Asylum bonds.I!
1872
1,000
Penitentiary indemnity............................
State Bank stock refunding.................*
1874
1,000
Bonds to North Missouri Railroad........ I]
1854 t o ’58 1,000
Bonds to Cairo & Fulton R ailroad .....” !
1857 t o ’59 1,000
Bonds to Platte County Railroad.............
1859 t o ’60 1,000
Bonds to Iron Mountain Railroad.......
1854 to ’59 1,000
Pacific Railroad of Missouri...........
1853 to ’59 1,000
Funding bonds.....................................*
1874
1,000
do
5-20y e a rs...... .. .
1886
1,000
Hannibal & St. Joseph Railroad........... ”
1857 t o ’75 1,000
„ . do
_
'd o
renewal........
1874
1,000
Nebraska—Bonds (act Feb. 14,1877) coupon...
1877
1,000
Now Hampshire—War loan, coupon bonds. ..1!
1864
1,000
Municipal war loan................................
1872
100 Ac.
Loan of 1879 for refunding............. .
1879
1,000
Prison loan..........................................
1879
1,000
New Jersey—War loan bonds, tax free. ” !.""!!.""
1863
100 Ac.
do
do
taxable................
1864
100 Ac.
New York— f
.........7
1875
100 Ac.
Canal debt, 1 Under Art. 7, Sec. 3, of Con1872
100 Ac.
reg. stock. |stltution.
1873
100 Ac.
1874
100 Ao.
Niagara Park Loan b on d s ......
1885
1,000

$40,100
175.000
80,000
260.000
48.000
70.000
2.500.000
875.000
11,966,450
1.437.000
2.330.000
2.827.000
1,784,444
2,263,333
309,485
31,069
269.000
298,435
62,605
3,000,000
125.000
1,217,234
500.000
628,355
4.379.500
4,022,649
1,005,419
5,537,104
1.366.500
3,618,242
1,506,182
300.000
1.300.000
370.000
200.000

3,618,729
300.000
1.500.000
1.100.000
1,299,355
231.000
3.965.000
61,000
2.483.000
185.000
24.000
80.000
863.000
246.000
428.000
1.190.000
1.474.000
617.000
1.350.000
928.000
659.000
449,267
150.000
2,206,100
500.000
70,000
802,900
593,400
473.000
1,562,900
4.269,950
1.998.000
900.000

Rate.

INTERE8T.
When
Where payable and by
Payable
whom.

Principal—When
due.

6
J. A J.
$ 12,000
July, 189»
6
Various
108.000
1872 to 1906
8
J. A J.
80,000 Amounts not
Jan.
1. 1890
7-30 M. A S.
260,000
fundable,
1899
6
Various
48.000 per report of
1897
8
J. A J.
70.000 Jan. 1 , 18S7.
July 1,1910
8
A. A O. 2,500,000
April, 1911
8
875.000
7(4) J. \fc'j. N.Y., Winslow, Lanier A Co
Jan..
1914
2, 4, 3 J. A J.
New Orleans.
1887 and 1914
6
J. A D.
Boston, Suffolk Bank.
June
1,1889
6
A. A O.
Augusta and Boston.
Oot. 1.1889
5 g- J. A J.
London, Baring Bros.
1889
J. A J.
do
188»
8«
Q.—J. Balt. Farm. A Meroh. B1
1890*.
5
A. A O.
do
do
18903
Quart’y
do
do
1890 6
Q .- J .
do
do
1890*
6
A. A O.
do
do
1890
3-65 J. A J.
do
do
1899 '
6
J. A J.
do
do
1889
6
do
do
18876
J. A*'j.
do
do
1893
3
J. A Jdo
do
1920
5 g. M. A N
Boston, Treasury.
May
1, 1894 .
5 g. M. A N
London, Baring Bros,
May 1, 1894
5 g. J. A J
do
do
July
1,
1889
5
A. A O
do
do
Api., 1888 t o ’90
Boston, Treasury.
5 g- Various
April,
1891
to ’94 5 g. J. A J
London, Baring Bros,
July, 1891
do
do
» »• J. A J
Jan.
1,
1895
A J
Boston, Treasury
1894
K g- J. A J
do
do
July 1, 1895
l g - M. A 8.
do
do
Sept.
1 , 189T
K
g5 g- A. A O.
do
do
April 1,1890 •
London, Baring Bros.
5 «• J. A J.
Jan.
1,1900
*»
5 g. J. A J
Boston, Treasury.
Sept. 1, 1896
5 g. Various
Boston, Treasury,
J’y
l
,’94-Sep
1,’97
5 g. Various
do
do
l ’95-Sep 1,’96
5 g. J. A J. London, Baring Bros. A Co. M’y
Jan. 1, 1895
7
M. A N. N. Y., Am. Exchange Bank.
May
1,1890
4ifl J. A J. N. Y. City. First Nat. Bk.
1911
4>fl J. A J. St. Paul, State Treasury.
To
be
red’d
in ’8T
6
J. A J. N. Y., Bank of Commerce.
1888
6
J. A J.
do
do
July, 1892
do
do
1895
6
J. A J
do
do
April 1,1894
6
J. A J.
do
do
1887
to ’88
6
J. A J.
do
do
1887 and ’89.
6
J. A J.
do
do
1889
t
o ’90
6
J. A J.
do
do
1887 to ’89
6
J. A J.
do
do
1887
and
’89
6
J. A J.
do
do
July, 1894 A ’95;
3hl J. A J.
do
do
Jan.
1,1911
6
T. A J.
do
do
Feb. 28, 1887
6
J. A J.
do
do
1894-0-6
8
A. A O.
N.Y., Kountze Bros.
April 1,1897
6
M. A S.
Concord or Boston,
Sept.,
1889
6
J. A J.
do
do
’92 to 19 0 »
5
J. A J. Bost.,Nat.Bk.Commonw’lth Jan.,
July
1,
1887-’92
5
J. A J.
do
do
1888 to ’91
6
J. A J. Jersey City and Trenton, Jan.,
Jan., 1888 to ’96
6
J. A J.
do
do
Jan.,
’97
to 1902
A. A O.
Co. Bank,
O c t ,1893
f l f - J. A J. N. Y., Manhattan
do
do
July,
1887
6 g. J. A J.
do
do
July 1, 1891
6 g. A. A O.
do
do
Oot.
1,1892
2*3 J. A J.
$100,000 yearly:

L o u is ia n a .-T h e Constitutional amendment
tw
1Q- Q
provided for a new bond in place of consols of i »74 iSSSiw. „ oC” 1879;

« th i o me years to recognize the “ State Railroad Bonds” of i» * a
taxation to 6 mills on the valuation, of which 2 v 3 m ll L P. ° r o£
f t i f Was
,£or'1^188l^and wa^carried^St'by'theTssue*?/
propria ted for interest on the debt; in 1834 1 mills s u / i f w i ? be a% tthe
4 ^ per cent bonds. Taxable valuations and State tax have f t : 1
1 qqi 9'
Real Estate.
Personal.
Tax Rate.
j-QQo........................................ $208,949.184
$74.329,190
1-4
b0nd3’ waa declded i* favor o fL o iV a n a by
...................................
244,033,847
67,159,588
!•«._
1883..
..
255,910,090
78,549,269
i-»
1884..
..
307,859,774
80,298,879
1-3
f ^ f l ^ ^ I o . ^ ^ a x ^ r a t e ^ m ' ¡ H o ’ I ™ $ 5’ l t 7 ’000- The «inking 1885.. ..
310,781.118
1881-82, 4«a mills; 1883-31 /m ills®8? « A r f 8 ott. valuation of 1870 1886 ...
80.300.000
I -»
1881.
s±’ 4 mills, 1835-6,3% mills on valuation of
___ 380,000.000
83,000,000
paM is s o u r i.—The tax rate is 40c. per $100 Bonds maturing are met
, and by sinking fund. Total State debt Jan. 1, 1887, was $14,180.000»
Hannibal
$25,37T,966‘,on account of Chesapeak^!^OhinUn tie8? which Tncludes Srstaterelu sed on JaS 1 1882 to ifnv th« ^3’000-000 /o r its debt, but
000 of honria t ifi„
\
to pay the coupons on its own $3,000 S
L
Litigation between the State and company ensued ro.
q l ji l
nation, Ac., have been:
’
aWe 11115 Jear8- Assessed val- 8ll »»lg 1? ,a Judgment against the company for $476 049 as 311«
..................
1883
1884
..................
..................
1885
.................. .......................
1886
..'.7.7.7 ‘ ............................
-(V . 42, p. 728, 783; V. 43, v.217.)

Ä9*00,089,380
Ä
aL Tax Per 1ft
$100.
&a
469,593,225
D , .
1883.
Keal ©state.................. $443,144,455
473,452,144
476,829,611
........ Personal property . . . . 173.345,191
Railroad property, Ac.
39,760,767

1884.
$495,293,007
186,425.373
44,564,907

1 8 8 5 .^ ^
$518,803,11
181,133.128
46,444,83»

T° t a l..................... $656,250,413
th e s in k S g f^ ^ ^ e r e $18 93^412d<Th!clr“ ’ J887- wa« $31,429,680;
$726,283,378
$746,381,081
cost the State heavily Theban
¿^eH oosac tunnel and connections —(V. 42, p. 125, 207.)
was secured by “ BerdeU’’ mm.fai, ?£.Bi?8t0ia Hartford A Erie Railroad
N Y A N E. RR. second mor S
S
af^ r+wards exchanged for a t f t f ^ e a f m a t e p e r f o n Ä i l S bo,d« *326,267. Assessed valum l8 8 o a t9 0 . A s s e s s e d v a ? u a t i f t S ^ ^
were 80ld and tax rate per |l!ooo, have been - ^ ’ & (33^ per ceat of true value»
Years.
Years.
Estate
Tax Per
Total
Sinking
Valuation.
Tax Rate.
1881............
...................................................... $93,142,456
1||0 . . . . $ l , m J I '0 7 2 $8l
S
K
«
|
S
882.
1883
.........................................................
98,537,475
1882
1884 ......................................
110,543,644
7 40
1 8 8 3 .. .. ___ J
.
............................................................. --- 126,615,886
7 B56aoa
1886......................................................................
133,418,700
1,258,452,712 829 33q’5 i T k o- 5r’ 7n“ ’''ov' xu,ooo,o/z
7a9<o<.
---1,287,993,899 827 043*710 u ? ? oJ”i £ 3,ti8° 17,731,725
7°8
1 8 8 6 ..
.. 1,340,493,673 839 40j 214 i f la o H 2^ 680 18,182,672
„ M ic h ig a n .—The debt isora cticsi^ t * , 31’4 i9 ’680
^,964,412
has sufficient assets to pay the bonds.7 E q u a t t 'v ^uation“
^ ^
of t a S r S i l 8urpofes, $15^
?
1883’ $173’ 658’500’ aad ra“ >




6

INVESTORS’

SUPPLEMENT.

[V o l . X L I V .

Subscriber* w ill confer a great favor by givin g Im m ediate notice o f any error discovered in these Table«
INTEREST.
Principal—When
Amount
Size or
Date of
DESCRIPTION.
due.
Where Payable and by
When
par Ioutstanding. Rate.
Bonds.
Whom.
Payable
Value.
1
F o r explanation see notea on first page of tables
$50 &c. $3.025,650
2,288,000
500 Ac.
649,000
1,000
2,577,000
1,000
1,180,000
1,000
44.000
1,000
1,000 11,366,000
100 &.O. 1,100,000
2,250,000
218,425
6,500,000
100 Ac.
1,481,400
100 &c.
6,861,100
50 Ac.
1.399,600
50 &c.
500,000
614,000
1,000
732,000
1,000
154,114
1,000
26,650
50 &c.
52,000
1,000
13,000
1,000
128,000
1,000
36,500
500 Ac.
41,200
500 &c.
450.908
5,277.738
500 Ac.
1,000 j 4,200,000
1,000
397,000
1,000
2,014,000
500 &c.
100 &o. 10,932,400
1,‘138,000
100 &o.
67,000
499,000
1,000
467,000
1,000
288,000
1,000
1,647,000
1,000
1.068,900
100 &c.
82,168
1,759,425
500 &c.
629,090
£100 &c
100 Ac. 13.019,000
1,212,910
100 &c.
365,000
100 Ac.
532,684
Various 12,691.530
6,890,300
219.800
2,872,320
100 Ac.

lo r s o v —The debt was oreated for war purposes. Valuation
of r Z anil personal property (taxable) was $573,258,203 in 1886;
*565,500,687 in 1885; $554,828,114 in 1884; $548.495,069 in 1883.
•State’ school tax, 2*2 mills.
N e w Y o r k .—The financial condition of the State has been fortified by
■the payment of all debt except as above. The sinking funis October,
i c a « amounted to $5,051.073. The new Capitol building has cost
toe State thus far $17,863.401, paid for by taxation. Valuations and
•Btate tax rate in 1880 and for two years past have been:
State tax.
Real estate.
Personal.
aoRO
.. $2,315,400,526
$322,468,712
1884....................... .. . 2,669,173,311
22®40
345,418,361
2-96
4 o o ? ...................
2,762,348,000
33,383,239
2-95
1886 1"'.'.'. " " " " " " 2)899,899,062
324783,281
North C arolina.—Interest was paid up to January 1882 on the
■bonds issued to No. Oar. RR., as the State holds $3.000,200 stock and re­
ceives dividends thereon. The old North Carolina RR. construction
bonds are exchangeable for the new 6s, due 1919 (see V. 35, P-132).rand
many nolders have already so exchanged. The funding law of March 4.
1879 movided for funding old ante-war bonds at 40 per oent of the face
value* “ New ” railroad bonds recognized as valid at 25 per cen t; fundtog bonds of 1866 and 1868 at 15 per oent. Nothing for overdue coupoi s. Coupons of the new bonds are receivable for taxes. The term for
limiting ended; but has been continued probably till March., 1889. If
all were funded the new 4 per centsi would be $3,589,;o i l . Special
tax bonds were ignored; also bonds to Glnitliciin RR.f 1868, $1,030,000,
and to Williamston & Tarb. RR., $150.000, and for Penitentiary under
acts of 1868. The special tax bonds are In 3 classes, class 1, bearing
toe coupon of April 1869 and since; class 2 of Oct. ’ 69; class 3 of Apl 70.
Assessed valuation of real estate is about 60 per oent of true value.
Valuations and tax rate per $100 have been:
Years.
Real estate.
Personalty. Total valuation. Tax pr.$ 100
$167,738,639
28
1881..
.. $104,712,911 $62,995,728
180,377,525
25
1882 .
108,983,184
71,389,341
201,222.723
25
1883'.'...
124.135.377
77.037,346
209,569,096
25
1885 ..
126,955,679
82,613,417
202,000,000
25
1 8 8 6 ..
..
.....
............
— (V. 42. p. 479.)
Ohio —Ohio bas a very small State debt, but large local debts,amount­
ingin 1885 to $53,290,398, against $-25.957,538 in 1875; this increase
'beingmainly in city debts. Valuationsin Ohio havebeen as follows:
Real estate.
Personalty. I
Real estate.
Personalty*
1866 $663,647,542 $442,561,379 1882.$1,116,681,655 $518,229,079
1879*! 1,093,768,904 442,979,885 |1883. 1,131.058,750 542,207,121
1880. 1,102,049,931 456,166,034 I 1884. 1,145,475,210 528,298,871
188l! 1,101,457,383 485,750,196 | 1885.. 1,160,165,882 509,913.936
—State tax rate for ’85-86, 2®io mills. (V. 42, p. 365, 387; V. 43, p. 7/5.)
P e n n s y lv a n ia .—Revenue Is raised principally from corporations*
Taxes are levied on personal property. Sinking fund, Nov., 1886, was
*10 180.746.i n lulling $ >,306,814 in U. S. govts. Any coupon bonds may
b e changed to registered. Real estate valuation in 1884, $L,600.000,000
R h o d e I s la n d .—The debt was all created for w m purposes. In
January, 1887, the net debt, less sinking fund, was $7>2.000. The
State valuation of real property up to 1887 was $328,530,559; tax rate,
J.2 cents on .4100.
south C arolin a.—The funding law of Dec. 23, ’73, provided for
wealing down the old debt 50 per oent. The consols were again ‘ ‘ re­
ad rusted ” in 1879. The several acts were passed Dee. 3, 1873. Deo. 24,
lh78 Dec. 24, 1879, and February, 1880. lu November, 1836,
there’ were green oonsols not yet exchanged, $851,671, less amount
•invalid. $631,373. The old issues yet fundable on Nov. 1, ’86, were
•estimated at a total of about $585,000. Valuations »ud rate of tax
.per $1.000 have been:
Personalty.
Railroads. Tux rate.
Years.
Real estate.
$11.785,768
$13.76 ,400
5
J 682-83... $~7,609,666
48.249,939
15,227,964
5
1883*84... 87,131,400
15.263,366
51«
18848 5 ... 87,559.538 46.904.705
42,836,288
15,521,041
6*4
1885- 8 6 ... 86,114,852
law wtui
was [»«oocuiactui
passed (act of m.c»j
May 20, ’82i without
TenneSNe«*—A
Tennessee.—A ftmdin ;mw
$he tax-receivable coupon clause, and giving new bouds at tiO per cent




1909
J. A J. N. Y., Nat. Bk. of Republic.
4
1868 to ’98
Various Cps. since July ’68 unpaid.
6
1884 to ’85
Various Raleigh, State Treasury.
6
April 1, 1919
do
do
A. A O.
6
1868 to ’98
Cps. since July’68 unpaid.
6
Oct., 1898
A. A O. Coup, of Jan.’69 Asince unp.
6
1898 to *99
A. A O Cps. A A O ’69 feAp’ 70unp.
6
4
J. A J. N. Y., American Exch. B’K. July 1. ’87-’88
July 1, 1887
do
do
3% A 5
July l , ’89-’94-’9S
do
do
J. A J.
3
F. A A. Phila., Farm. A Mech B’k. Feb. 1,1902
5
Aug. 1. 1904
do
do
4
F.
Feb. 1.1912
do
do
31« & 4 F. A A.
Aug. 1, ’87 to ’92
do
do
31« & 4 F. A A.
1922
Harrisburg, Treasury.
6
July 1,1893
J. A J. Providence, R.I.H. A T. Co.
6
Aug. 1,1894
do
do
F A A.
6
1871 A ’81
J. A J. Columbia, State Treasury.
6
6 g. J. A J. Columbia and New York. J’ly 1,1887 to ’97
.T’ly 1,1875 to ’79
Columbia, Treasury.
6 g. J. A J.
July 1,1888
6 g. A. A O. Columbia and New York.
July 1, 1888
do
do
6 g. A. A 0.
July 1, 1889
do
do
6 g. J. A J.
July 1,1882
do
do
6 g. J. A J.
1888
do
do
J. A J.
6
July 1, 1893
J. A J. N. Y., National Park Rank.
6
July
1,1914
C 6
A
J.
J.
1892, ’98,1900
) 5& 6 J. A J.
Various.
Nashville,
Treasurer.
J.
A
J.
6
Jan. 1, 1912
3, 4, 5, 6 J. A J. New York, Confi Bank.
July 1, 1913
Nashville.
3
J. A J.
July 1,1913
do
5 A 6 J. A J.
1891
State Treasury.
Various
6
1911
7 g. M. A 8. New York, Bank of N. Y.
1892
do
do
7 g. J. A J.
March 1,1904
do
do
7 g. J. A J.
July, 1906
6 g. J. A J. New York A State Treasury.
1909
do
do
5
J. A D.
Matured.
State
Treasury.
6
1886 to ’95
J. A J.
6
1886
J. A J.
5
1905
6
J. A J.
1905
6
J. A J.
J. A J.
6
A J.
6
Contingent
J. A J.
6
1919
3 to 5 J. A J.
1919
3 to 5 J. A J.
July
l, 1932
Richmond,
Treasury.
J. A J.
3

of the principal and interest of old, the new bearing 3 per cent in 1882,
83, 4 per cent in 1884 and 1885, 5 per cent in 1886 and 1887, and 6 per
cent 1888 to 1912. Exchanges were made in New York July, 1883,
and $8,224,351 of these compromise bonds were issued. The Legisla­
ture of 1833 repealed this law and passed a new one adjusting the debt
on the basis of new bonds at 50 per cent of the face value of old, and
bearing 3 per cent interest; the old State debt proper of $2,118,000 was
made ail exception, and new 5 and 6 per cent bouds were issued for that
at the face value. The compromise bonds of 18»2, 3 1«, 4, 5 and 6 per
cent bonds are fundable into the new setilement 3s. at five sixths of
the face and interest, up to and inclusive of July, 18 J3. coupons—thus
for $1,000 compromise bonds, $858.33 iu new 3s, with interest since
July, 1883, paid iu cash. All the settlement bonds are redeemable at
option of the State after July 1,1888. Assessed valuations and tax rate
per $1,000 have been as follow s:
Real estate.
Other property. Railroad prop’ty. Tax rate.
30
1881.......$200,007,214
$25,282.659
$ ..................
20
---------------26,546,245
..................
195,383,568
1882
30
26,884,459
31,517,299
1883
195.753,414
30
26,631,284
34,350,170
1884
200.212,900
—(V. 4*2, p. 234, 664.)
T e x a s .—The old high-rate bonds were redeemed and lower interest
b mds issued. Assessed valuations and rate of tax per $1,000 have been:
Total val’ation. Tace rate
Personalty.
Years.
Real estate.
$1
$119,925,476
1882..
.. $250,157,904 $169,767,572
527,537,390
3
228,578,137
1883..
.. 298,959,253
603,060.917
3
255,213.964
1884..
.. 347.846.953
3*75
621,011,989
245,121,395
1885..
.. 3 7 ‘>,890,594
3 75
630,525,123
235,313,445
1886..
.. 395,211,678
. . .

1879
Worth Carolina—Fundi b’ds (coups.tax-rec ble).
Old bonds not funded........... . . - --....................
Bonds to North Carolina Railroad . . . . . .........1879
Bonds for N. C. RR. issue (tax receivable ops.)
BR. bonds not fundable (Cbatbam and W. AT.)
1868
Penitentiary bonds, act Aug. 24, 1868............
Special tax bonds (in 3 classes)........................
1881
O7wo—Registered loan of 1881...........................
Deficiency loan.............................- ....................
New 3 per cent lorn........—
...............
1877
SPennsylvunici—Reg. bonds, tax fr. (rod ble 92).
1879
Registered bonds, tax free, 15-25 years........
1882
Loan of February, 1882 (registered)..............
1882
do
do
in ten series........
1872
Agricultural College land scrip........................
IS 63
Rhode Island—War bonds.....................................
1864
War bonds................ . ..........
1853
to ’54
South Carolina^-State House stock and bonds..
1866
Funding bonds and stock..................................
1854
Blue Ridge Railroad bonds...............................
1868
^Funding Dills receivable....................................
1868
Payment of Interest........................ ............... ••
1863
Funding bank b ills .........................................
1869
'Conversion bonds and stoeg.. . . . . . . ................
1878
Deficiency bonds A stock (act 18 7 8)...............
1874
Consol, bonds and stock (B row n )..................
1874
'Tennessee—Funding bonds, act of 1873.............
Bonds registered, act of 1873 . . . . . . . . . . . . . . . . . . Various.
Held by K. T. University (not to be funded)..
1882
Compromise bonds (act of May 20, 1882)
Settlement bonds, act of March 20, 1883.......
1883
¿o
do
5 & 6 per cents
1872
¿¡¡Texas—Funding State debt (act May 2 ,1871)..
1871
Frontier def’se, gold, act Aug.5,’70(red’ble 91)
1872
Revenue deficiency bonds, act Dec. 2,1871..
1874
Bonds, act Mar., 1874 (for paying float’g debt)
1876
Redemption of debt, act Aug. 6, ’76..............
1879
Bonds, act April 2 1 ,1 8 7 9 ..............................
1867
Bonds issued to School Fund.........................
'•Virginia--Old bonds, 2s fundable....................... 1851 to ’66
1851
Old bonds sterling 2S fundable........ .
1871
Consol, (act Mar.^71) coup, tax receivable...
18.1
do
do
reg., conv. into coup..
1872
do (act 1872) “ Peeler,” cp. not rec’ ble.
1*72
do
™ do
“ Peeler," reg. and certifs
1871
Deferred certificates (W. Va.).......... ...............
1879
1C-40s, act March 28, ’79, coup, and reg.......
1879
do
do
sterling................... .
1882
“ Riddleb’r” b’ds, acts Feb.l4,’82,&Nov.29,’84

V i r g i n i a .—The old bonds two-thirds fundable and the sterling
bonds carry ooupons from July 1869, except the years 1872-3-4. The
oonsols. of 1871 carry coupons of Jan. 1875 and since. The 10-40s carry
Jan. 1881 and since; but the consol, and 10-40 coupons being taxreceivable, these bonds are generally sold with matured coupons
off.
The first funding law of March. 1871, allowed holders of
bonds to fund two-thirds of their debt into new 6 per cent bonds, bear­
ing coupons receivable for taxes, and receiving for the other one-thiru
of their principal a “ deferred certificate,’ ’ to be charged to VVest Virginia.
The act of 1872 repealed the tax-receivable clause of the law, and the
bonds issued under it were called “ Peelers.” The McCulloch law Of
March 28,1879. authorized the 10-40 year bonds, bearing 3 per cent
for 10 years, 4 per oent for 20 years and 5 per cent for 10
years, ooupons tax-receivable. In February, 1882, the Riddleberger
law for re-adjusting the debt and the laws familiarly known as
“ Coupon killers,’’ were passed (seeV. 34, p. 88. The Riddleberger
act provided for the issue of new bonds, dated July 1, 1884
into which all others coul d be funded at specified rates below par, vary mg
from 47 to 31 on the different classes. This law was also amended
and all bonds offered for funding after July, 1885, were required to
carry the coupon of that date. The Supreme Court of the United
States held (V. 36, p. 285), that the law requiring the validity of the
coupons to be established before a State court did not impair the contract
making them receivable for taxes, and was therefore constitutional, oni
toe question was agnin before the U. 8. Supreme Court In April, 85, when
that Court held that a tender of coupons in payment of taxes was suffi­
cient for the property owner. (See also V. 42, p. 188.)
......
A movement was begun in 1885 to procure an adjustment of tne
“ Deferred” bonds or certificates by the Legislature of West Virgin»
and toe holders of some $*<,<«00.000 deposited their bonds with the
Farmer*’ Loan A Tr. Co., and the certificates of that Co. were listed «
the 8to«k Exchange.
_
....
.
In Mav, 1887, the negotiations with English bondholders for a settle­
ment failed, though liberal concessions were offered by the bondholders.
Assessed valuations have been as follows:
Personalty.
Total.
TaxRsd*.
Years.
Real Estate.
$77.666,765
$310.053,124.
40o
1882___ $232.386,357
81,789,710
318,157,937
40c.
1883..
.. 236.368,227
88,974,040
328.^00,040
40o,
1884..
.. 239,826.000
84,884.270
341.800.410
40o
1885 ... 256,946,140
<—(V. 42. p. 94,183, 234, 464; V. 43, p. 432, 446; V. 44, p. 451, 495,
§27, 572, 627.)

CITY SECURITIES,

M a y , 1887.J

7

Subscriber« w ill confer a ¿great favor by givin g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Forexplanations see notes on first page of tables.

Date of
bonds.

Size or
Amount
par outstanding.
value.

1866
$1,000
Albany, X. F.—Purchase Congress Hall Block..
1,000
City improvement.............................................< 1870-’71
1870-’82
1,000
Washington Park..............................................
1874
1,000
New Post Office site.........................................
1874-’80
1,000
Water debt <$400,000 due 1900-3, are 7s)......
1882
1,000
New City Hall................................................... .
___
1882
South Pearl Street b onds............. -......... •• •
1865
1,000
Bonds loaned to Albany A Susquehanna RR.
1867-’72 500 Ac.
1869-’70
1,000
1870 & ’72 500 Ao.
1874
1,000
Bonds, 1st and 2d series, waterworks—
500 Ac.
1877
Redemption bonds....................... .............
1881
1,000
do
.....................................
1879
....
Bonds to fund floating debt.......................
1884
....
Capitol bonds.............................................
Bonds.............. ................................ .
Various.
100
Ao.
Augusta, On—Bonds for various purposes.
Various. LOO Ao.
Baltimore—Consolidated loan of 1890— .
1877
100 Ao.
100 Ao.
Funding loan, reg. stock, tax free.. . . . . . . . . .
1878
1863
Consolidated bounty loan.................. .............
100 Ao.
1865
100 Ao.
Exempt bounty loan...........................
1860
100 Ao.
Public parks (Druid Hill)................................
1863
100 Ao.
Park improvement loan...................................
Patterson Park extension
.........................
1853
Five million loan to Baltimore A Ohio R R ...
100 Ac.
New City Hall.................................................... 1870-74 100 Ao.
1881
100 Ao.
Paving loan......................................... .
1870
100 Ac.
Funding lo a n .................................................
1872
Western Maryland Railroad...........................
100 Ao.
1872-’84 100 Ao.
1885
do
1874
Water loan ($203,000 only are 6s)..................
100 Ac.
Harford Run Improvement loa n .....................
1880-4
100
Western Maryland RR. loan.............................
1882
100 Ac.
do
do
...............................
1887
100
Endorsements for Western Maryland R R.......
........
do
do Union Railroad...................
Bangor, Me.—City debt proper........ ..................
1872
1,000
Refunding bonus................................................
1885
500 Ao.
Municipal loan...................................................
1874
1,000
Water loan bonds, coup. (Act Feb. 22, 1875).
1875
500 Ac.
European A North American Railroad...........
1869
1,000
Bangor A Piscataquis Railroad........................
1869
509 Ac.
Bath,Me.—Fund, debt ($78,000 are 6s,’97, J. AJ.)
Various.
Knox & Lincoln RR.. for stock and coupons
Various.
Androscoggin RR. (guar, by Maine Cent. RR..
1861
Various.
Knox & Lincoln Railroad ($23,750 each year)
1869
Various.
do
do
(F.AA. and M.AS).. 1871-’72 Various.
Railroad refunded..............................................
....
Boston—City debt and Charlestown.................... 1864 t o ’80 1,000
do
registered............................................. 1878-’82
do
do
.............................................
1879
....
do
do
.............................................
1877
City d e b t........... ................... ........................
Various.
....
West Roxbury.....................................................
....
....
Burnt district, sterling loan..............................
1873
£100Ae
Consolidated street improvem’t, sterling loan.
1869
£100 Ac
Park bonds.... . . . . . . . . . . . . .
1887
1,000
Mystic water debt, assumed
1862 t o ’83 1,000
Cochituate Water loan, 6 per cent
1866 to ’76
....
do
do
5 per o e n t........
1875 & ’78
....
do
4 per cen t.........
do
1878
....
do
Sterling...........
do
1872
£100 Ac
do
do
5 per cent gold.
1875-’7G
....
do
4>fl
do /
do
1879
....
do
do
4
do
1879-’80
....
do
do
4 per cent..........
1883-84-85
....
do
3*a per oent.
do
1884-’85
....
Brooklyn—Brooklyn local improvement loan...
1861
1,000
Mount Prospect Square loan.............................
1856
1,000
Soldiers’ ala fund loan.....................................j
1865
1,000
Qowanus canal improvement loan, lo c a l...."
1866
1,000
Bushwick avenue do
do
do .........
1865
1,000
SouthSeventhst.
do
do
do
1863
1,000
Fourth avenue
do
do
do
. . . . 1868 & ’69 1,000
Wallabout Bay
do
do
.................
1867
1,000
New York Bridge loan, registered and coupon
1870
1,000
Bonds for N. Y. & Brooklyn Bridge, cp. or reg. 1875-’83
1,000
Prospect Park loan, reg. & coup.
.................' 1860 to ’73 1,000
Prospect Park loan.................................... .
1860 to ’72 1,000

$127,000
428,000
1,058,000
115,000
1,089,000
145,000
62,000
858,000
741,500
400,000
418,000
427,000
77,500
120,500
360,000
55,000
116,500
2,256,000
7,306,546
5,000,000
1,000,000
2,211,068
410,353
555,566
185,723
200,000
5,000.000
1,500,000
700.000
800,000
1,000,000
2,027,000
100,000
5,000,000
600,000
684,000
1,700,000
875,000
117,000
50,000
50,000
100,000
500,000
1,000,000
925,000
180,500
137,000
425,000
J 378,050
359,100
9,778,500
9,058,000
450,000
490,000
230,000
120,000
4,997,604
2,996,602
500,000
819,000
4,897,000
13,000
588,000
1,947,274
3,552,000
268,000
686,000
1,044,200
50,000
213,000
90,000
438,000
75,000
174,000
82,000
3,000,000
9,245,237
8,019,000
1,217,000

A lban y.—
______ _
gage. The valuation of Albany City in" 1886 was
7-0; personal, $6,154,270; tax rate, $184. V a lu ation in 1 8 8 5 -R ea i
estate, $60,3*1,215; personal, $6,044,250; tax rate $2 06 Pormlation
90,758 in 1880; 69,422 in 1870.
’9
population,
A tlanta. The total bonded debt Jan. 1,1886. was $2 222 500 As­
sessed value of real estate in 1885, $21,023,370; imrsonal *7 889 269tax rate, $1-50. Population, 37,409 in 1880; 21 789 in 1S7() 89’ 269’
A ugusta.—Of tills debt, $600,000 was issued for railroads and bal­
ance tor eanal enlargement, water works, Ac. Sinking funds Tan i i as5
$330,000. Taxable valuation in 1885: Real estate $ J i 1 o •
sonal, $3,088,130; tax rate, $1 621* per $100 Pooiifaimn
i Ivo
by U. 8. Census, 15,389; In i880, 21 891 *
Population in 1870,
B altim ore.—The Balt. & Ohio RR pays interest on <85 000 000
l°ao is wav.
paid by income
of a.water
works, and Public Park
bv
Citv
Passenger
nominaltnt.i
ra,I1f
oeyToity
Passenger Rail
Rail wa£ and
and a
Ä T a
total deb£ f $3^955 290
m
Ä
----------chargeable with interest on only $18,698,722,andhiilds productive
tvroduct^ve
on Decm31U^ 8 6 t^ ilSÆ I1f f a m * Ä ™ 1®111' S° $*2,869,818, L tvin
There are ai an hAia°jS^7 Qa
’Ü7.® 1
interest-bearing asset!
assets.
to1'I W ' 267 354^
P» ° U H U
a V n . r T i l t * . ^ Q18.80’
„ I n J an., 1887, the city issued
chi
__ _______I
___
_
Assessed
cashvllu°eff« J ? la x 5
“
Ä :
„
Real*
Personal
Total
Rate of Tax
Years.
Estate.
Property.
Valuation.
per $1,000.
1883
$189,911,494
$58,889,738
$218,803,232
15 00
1884
191,516,113
58,135,586
219,051.699
10 00
1885 .... 195,416,891
59,496,377
253,913.271
16 00
1886 ............ .
...
256,240,655
17 00
—(Voi. 43, p. 693, 738.)
- .

20,000
68,000

Rate.

INTEREST.
When
Where payable md by
Payable
whom.

-

Principal—When
Due.

A. Boston, Merchants’ Bank. Feb., 1888 to ’94
8
New York.
1887 to 1900
N. New York and Albany.
1910- ’21
N. N Y., Merchants’ Nat. Bk.
May l , 1904
A.
do
do
1894 to 1912
J.
do
do
July 1,1905 t o ’ 10
4
Albany.
1888
6
M. A N. N. Y., Del. A Hud. Canal Co.
1895-’97
8
J. A J. New York, Park Bank.
1892
7
J. A J.
do
do
J. A J., 1890
8
r. a j .
do
do
J. & J., 1902
J. A J. New York, Fourth N. Bank.
7
J a n ,1,1904
8
J. A J.
Atlanta or New York.
Jan. 1,1897
5
Various
do
do
1911- 1915
6
J. A J. New York, Park Bank.
1887-1896
6
J. A J. New York and Atlanta.
1914
July, 1916
6 A 7 Various
Augusta, Treasury.
1887 to 1915
6
Q .-J . Balto., Farm. A Plan. Bank.
July 1,1890
5
M. A N. Balto., Nat. Meohanios’ Bk.
July 1,1910
5
M. A N.
do
do
After July, 1916
6
M. A S.
do
do
Sept. 1, 1893
6
M. A S.
do
do
Sept. 1, 1893
6
Q .-M .
do
do
Sept. 1, 1890
6
do
Q .-J .
do
Jan. 1, 1895
4
Q.—J.
1920
6
Q.—J. Balto., Farm. A Plan. Bank. Jan. 1, 1890
6
do
do
Q .-J .
1900 and 1902
4
M. A N. Balto., Nat. Meohanios’ Bk. After Nov. 1,1920
6
Q .-J . Balto., Farm. A Plan. Bank.
July 1,1900
6
J. A J. Balto., N. Meohanios’ Bank.
Jan. 1,1902
3-65,5A6 Q.—F.
do
do
April 9,1900
3
do
do
Q.—F.
1900
4, 5 A6 J. A J.
do
do
July 1,1894,1922
4
J. A J.
do
do
After Jan. 1,1920
4
July 1.1925
Jan. 1,1927
3^4 J. A J. Balto., Farm. A Plan. Bank.
6
J. A J. Balto., N.Mechanics’ Bank. Jan. 1, ’90 & 1900
6
J. A J. Baltimore, Franklin Bank.
Jan. 1, 1895
7
Various Boston. Merchants’ N. B’k.
1892
4
M. A N.
do
do
1887 to 1891
do
do
6
J. A J.
Jan. 1,1894
6
do
do
J. A J.
July 1, 1905
6
do
do
J. A J.
Jan. 1, 1894
do
do
6 A 7 A. A O.
April 1, 1899
5 A 6 M. A 8
City Treasury.
July, 1887 A 1897
6
Various
do
1898
6
(to
A. A O.
Jan. to Oct. 1831
( 6
J. A J.
do
1887 t o ’99
do
Various
1 6
1891 A 1902
4
do
J. A J.
1902 to 1920
6
Various Boston, Treasurer’s Office.
1887 to ’97
4
do
do
Various
1887-1914
do
do
4*sg. A. A O.
Oct., 1889
413 Various
do
do
1887
5
do
do
Various
Various.
7
do
• do
Various
1887 to 1891
5 g. A. A O. London, Baring Brothers.
April. 1893
5 g. J. A J.
do
July, 1899
3^2 J. A J. Boston, Treasurer’s Office.
Jan. 1,1937
5 A 6 Various
do
do
1887 to 1913
6
do
do
Various
1897 to 1908
5
Various
do
do
1907-1908
4
A. A O.
do
do
1908
Oct., 1902
5 g. A. A O. London, Baring Brothers.
5 g.
Boston. Treasurer’s Office.
1905-1908
do
do
4Tag. A. A O.
1909
4 g. A. A O.
do
do
1909-1912
4
Various
do
do
19131914
do
do
3*a A. A O.
19141915
7
M. A N.
Brooklyn. * . ,
1891
6
J. A J.
do
1887
7
S8g
J. A J.
do
1887 to ’94
7
J. A J.
do
1887 to 90
S PH
7
J. A J.
do
1887 to ’90
7
J. A J.
do
1887 t o ’90
6 A 7 J. A J.
do
1887 to ’89
Q, ->»
7
J. A J
do
1887 and ’88
7
co d .
J. A J.
do
1899-1924
P-i öö +■*
4, 5, 6, 7 J. A J.
do
1905 to 1928
§«■9
7
J. A J.
do
1924
6
J. A J.
do
1915 t o ’24
6
7
4, 5, 6 ,7
7
6A7

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

$45,865,888, and the total sinking funds, Ao., applicable to it $19/983,492, leaviug the net debt $2 j,882,395 The law of April 17, 1885,
limited the taxation in Boston for city purposes to $9 on the average
valuation of live years preceding, to which is added the tax for city debt
and for State purposes. Up to Jan. 1,1887, the debt shall not be over
2*3 per oent of assessed valuation, and after that date 2 percent.
Assessed valuation on May 1 for four years has been:
Real
Personal
Tax
Net Debt.
Years.
Estate.
Estate.
Rate.
Deo. 31.
$204,113,771
$14 50
|1883 .............$478,318,900
$25,311,635
1 8 8 4 ............. 488.130,600
194,526,05$
17 00
24,766,064
\1 8 8 5 ............. 495,973,400
189,605,600
12 80
24,700,014
1 8 8 6 ............. 517,495,200
193,080.500
12 ^0
25,882,395
B r o o k ly n .—The whole city debt was as follows Jan. 1,1886 and ’87.
Jan.
I
I1,1886.
Jan. 1,1887.
Permanent debt............... ....................... $20,261,543
$26,077,543
Water loan .......................................
11,645,500
10,893,500
Debt payable from assessments............
1,640,000
2.618,000
Tax certificates............... .........................
3,00o,0u0
2, 000,000
Gross d eb t........ ................................
Less sinking fund.....................................

$43,523,013
7,121,271

$40,011,042
6,986,219




.

Net debt.................. .......................... $36, ¡00,772
$33,024,923
Population in 187o, 390,099, against 566,063 in 1880. Valuation of
property and tax rate per $1,000 have been :
Real.
Personal.
Rate.
from the earning The valuations(nearf/i
aud Vlt'ere3C fullY Paid Years.
were: Real estate, $6,693,650®
J 1 t a J t rate hi 1886 1883 ......................................$280,800,507
$18,135.909
$26 01
1884
............................ 297,126,666
20.727,406
26 34
R
S Æ i i l S ; 1885
............................ 311,308,060
19,375,702
2900
1886
336,221,357
22,049,310
2650
or (io d’ .b,,
oa fello iM ro.oogirm mail 1887.... ........................... 339,922,812
14,217,276
.......
The debt of Kings County, separate xrom the debt of Brooklyu, U
about $4,000,000, of which the city is responsible for l Booths.

INVESTORS’

8

SUPPLEMENT,

[V o* XL1V.

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

Date of
Bonds.

For explanations see notes on first page of tables
Brooklyn—( Continued l—
Permanent water loan................ ....................
Sewerage fund bonds, continuous, local..........
Assessment fund bonds, continuous, local —
Temporary tax certificates..............................
Certificates of indebtedness..............................
Bonds to pay arrears to cou nty.......................
Arrearage bonds, reg. (redeem, in 1894)........
Award bonds for lands taken...........................
Buffalo, A. Y.—Funded debt bonds.....................
Waterworks bonds...........................................
Tax loan bonds....................................................
Cambridge, Mass.—City bonds.............................
City bonds........................................ ..................
'do
..........................................................
...........................................................
do
do
..................................- ......................

Size or
Amount
par outstanding.
Value.

$1000 $10,893,500
1.000
72,000
1,000
1,018,000
....
2,000,000
....
887,305
....
549,000
2,350,000
....
200,000
l.OOO&c 5.059,936
l.OOO&c 2.778,382
l,000&c
445,457
1,000
220,000
1,000
150,000
500 &c.
347,000
500 &c.
689,000
265,000
25,000
1,311,000
Water loan.............................................. ........... 1867 to ’77 500 &c.
1,000
336,500
do
(only $12,500 are 5s).....................
218,000
do
..........................................................
....
92,800
1866
Charleston, 8. <7.—Fire loan bonds, cou pon ......
500.000
Conversion bonds, to redeem past-due debt...
1878
109,500
do
do
do
100 &c.
1879
3,413,600
do
coup, or reg........................
286,000
25,000
1,000
992,000
Funded debt, coup.............................................
96,000
1,000
200,000
Water loan, coup...............................................
500,&c.
132,000
3,490,000
1,000
100, &c.
333,000
1882
Water loan (refunding).....................................
1,675,000
500 &c.
489,500
1880
2,608,000
1,000
River improvement bonds................................
1,000
186,000
Municipal bonds.................................................
2,536,500
500 &c.
Municipal and School bonds.............................
843,500
1881
Municipal bonds (refunding loa n )...................
4,941,500
1865 to ’80 500 &c.
250,000
1,000
1868
Cincinnati- B’ds for erection of a WorkhouseX
150,000
1869
1,000
Bonds for Water Works................................C3
98,000
1863
1,000
Bonds for Common School purposes.............P
194,000
1,000
1855
Bonds toO. & M. RR. to purchase whf. prop..N
397,000
Bonds for ext. and impr. Water W. -C, D. & E 1847 t o ’50 500 &c.
171,500
Bonds for funding floating debt............A&A2 1847 to ’48 500 &c.
750,000
1,000
Bonds for new Hospital........................... S&S2 1867-’68
60,000
1853
1,000
Bonds for funding floating debt..................... L
175,000
1,000
Extension and improve. Water Works... K &F 1851-’53
131,000
1,000
1858
Bonds to purchase Orp’n Asyl. grds. for park.O
150,000
1869
1,000
Bonds for sewerage..........................................R
150,000
1869
1,000
Bonds for improving Gilbert avenue........... U
100.000
1869
1,000
Bonds to build Eggleston avenue sewer— B3
300,000
1,000
Bonds for Water Work purposes................ C5 1871-’72
600,000
1871
1,000
General improvement..................................W2
8,191,000
1872
500 &c.
Cincinnati Southern RR ...................................
4,825,000
1876
500 &c.
do
do
($2,890,000 are gold 6s)
2,260,500
1878 & ’79 1,000
995,000
1874
1,000
Floating debt bonds, coupon...........................
65,000
1875
1,000
Park improvement.............................................
200,000
1875
1,000
175,000
1879
1,000
Bonds for McLean Ave. sewer.....................U2
50,000
1876
76,000
884,067
1876
to
’83
Various
Street improvement bonds, snort.....................
2,067.000
Consol, s. f. bonds, 30-50 yrs. (Act Apl. 9, ’80. 1880 & ’81 1,000
64,706
79j000
1882
100
Work House and Infirmary...............................
500,000
1881
100
&c.
Deficiency loan (redeemable after 18 9 1).......
2,473,000
Deficiency and pavement bonds (10-20 yr.) .. 1885-’86.
1,775,000
Cleveland—Water works ($200,000 are 6 p. ct.). 1872 t o ’85 1,000
1,909,000
1872 to ’85 1,000
515,000
1872
t
o
’85
1,000
TuVa view , Wade and Monumental parks —
275,000
1874 t o ’79 1,000
85,000
1869
to
’71
1,000
School ($100,000 are 6 p. ot.)...........................
256,000
General bonds, various purposes..................... 1885-86
2.138,000
Viaduct (mostly F. & A., A. & O. and J. & D.) 1873 to ’78 1,000
335,000
1886
Elevated R; adway.............................................
695,900
Various.
1,000
225,000
Kingsbury and Pearl Street Bridges................ 1884-5-6
228,000
1875
1,000
Des mnines" Iowa—Renewed judgment bond—
175.000
1878
1,000
Funding bonds, redeemable 1878.....................
182,000
Coupon warrants and sewer and paving bonds 1882 & ’84
1,451,000
Detroit,Mich.—For Water W.Co., on city’s credit 1855 t o ’81 500, &o.
347.500
....
Public Building stock (City Hall) bonds.......... 1866 to ’71
1857 to ’75
Various.
Various.
Various.
1884
1884
1884
1883
1870 t o ’86
1869 to *86
1880 to ’86
1864 & ’77
1863
1870 to ’76
1873-’74

Rate.

INTEREST.
When
Where Payable and by
Payable
Whom.

Principal—When
Due.

& J.
Brooklyn. •tí J Ù)
1 1887 to 1916
& J.
do
3 years from date.
■agg^
& J.
do
3 years from date
& J.
do
3 years from date.
do
& J.
1887 to 1905
do
& J.
1924
do
& J.
1924
1
do
....
1893
i
Various Buffalo and New York.
1887 to 1926
do
do
Various
1887 to 1909
do
do
J. & J.
1887 to 1900
A. & O. Boston, Bank Redemption
1887 & 1889
J. & J. Boston, Tremont Bank.
Jan. 1,1893
J. & J. Boston, Bank Redemption
1890 t o ’96
J. & J
do
do
July, 1903-4-5
do
do
1895 & 1905
do
do
Nov. 1. 1896
do
Various
do
1887 to ’97
do
do
1894-’98-1910
do
do
1906 and 1911
Charleston, Treasury
1890
J. & J.
do
A. & 0.
1888 to 1897
A. & 0.
do
Oct,, 1898
July 1,1909
J. & J.
do
1887 to 1908
1887 to 1888
Various Boston, N. Bk. Redemption
1891 to 1895
Various
1889-1890
F. & A Boston, N. Bk. Redemption Aug. 1 ,1887-’95
6
1897 & ’98
J. & J. N. Y., Am. Ex. Nat. Bank.
6
do
do
July 1, ’88 to ’95
J. & J.
7
do
do
1902
3-65 J. & J.
do
do
1886 to ’95
J. & J.
7
July 1,1900
do
do
4*2 J. & J.
do
1890 to ’95
J. & J.
do
7
do
July, 1895 & ’96
do
J. & J.
6
do
do
1887 to ’99
J. & J.
7
do
do
1901
....
4
4*2 to 7 M. & N. N. Y., Metropolitan Bank. May 1 , 1887-’92
June, 1888
7 3-10 J. & D. N.Y., Am. Exch. Nat. Bank.
do
do
1889
7 3-10 J. & D.
do
Jan., 1890
J. & J.
do
6
do
do
Nov., 1890
M. & N.
6
April, 1895
A. & O. Fhila., Bk. of Nortn Amer.
6
do
do
May, 1897
M. & N.
6
1897 & 1898
7 3-10 Various N.Y., Am. Exoh. Nat. Bank.
do
do
Jan., 1900
J. & J.
6
Various Fhila., Bk. of Nortli Amer. June & Oct., 1900
6
Cincinnati.
Mar., 1888* 1908
M. & S.
6
Sept., 1899
7 3-10 M. & S. N. Y., Am. Exch. Nat. Bk.
Sept., 1899
do
do
7 3-10 M. & S.
do
Oct., 1899
do
7 3-10 A. & O.
Aug., 1897
do
do
F. & A.
7
do
Dec. 1,1891
do
J. & D.
7
July 1, 1902
do
do
7 3-10 J. & J.
do
May 1, 1906
do
6g. or 7-3 M. & N.
do
do
1902-1908-1909
6 & 7 Various
Cincinnati.
May 15,1904
M. & N.
7
1890
J. & J. N. Y., Am Exch. Nat. B’k
7
Aug.,’90 * ’95
Cincinnati.
F. & A.
7
5 & 6 M. & N. N.Y., Am. Exoh. Nat. Bank May 1889-1909
May 1,1906
M. & N.
C.ncinnati.
7
Aug. 1, 1897
F. & A.
7
1887 to ’95
Cincinnati.
5 & 7 Various
4 & 5 Various N. Y., Am. Exch. Nat. Bk. 1930 & 1931
1889 * 1890
4 & 5 Various
Cincinnati.
July 1, 1887 ta 92
4 & 6 J. & J.
June l, 1901
J. & D. N. Y., Am. Exch. Nat. Bk.
4
1905
Various
4
1892 & 1903
3'65 to 7 Various N. Y., Am. Exch. Nat. Bk.
do
do
1887t o ’97
4, 5, 6, 7 Various
do
do
1887 to ’92
Various
7
do
do
1894 to ’98
6 & 7 Various
do
do
1887-’88
Various
7
do
1888-1901
do
4-4*2 Various
do
do
1893 & 1907
5. 6 & 7 Various
do
do
1901-2
Various
4
do
do
4, 5 ,7 Various
1899-1902
do
do
4. 4*2. 5 Various
7 & 4 J. & J. New York, Kountze Bros. July, 1887 or ’92
J. & J. N. Y. Chemical Nat. Bank. July, 1888 or ’98
7
Various.
Various Des Moines and Boston.
5
1887 to 1906
4 to 7 Various N. Y , First Nat. Bank.
do
do
1887
t o '91
Various
7
3 to 7
3*2
3*2 & 4
3*2
4
4
3 *2 *4
4
3 to 7
3*2 to 7
3 to 4*2
5
5 ft.
6
6
4
3*2
6
4& 5
3*2
7
7
6
4
6
5*2
6

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

B u f f a lo .—Valuations and tax per $1,000 have been:
Years
Real estate.
Personalty. Tax Rate, Population in 1870 was 298,977, and in 1880,503,185. The South Park,
la g s
....................... 93,167,090
8,796,675
16 27 West Chicago Park and Lincoln Park loans are not debts of the city,
1884 ......................................... 96,341,455
8.459,735
16 44 but of distinct corporations.
7!..................... 99,912,470
8,461,675
17 21
1885 .......
Cincinnati.—In addition to the bonds as stated above, elty holds
1886 ..... 1 " ............................ 113,963,945
8,405,225
17 27 $1,274,000 of Cin. South, bonds in sinking funds and $474,473 Street
Buffalo also pays 77-100 of Erie county debt. Coupon bonds are exchange Improvement bonds. In 1870 the population was 216,239, against
able for registered. The interest on different bonds is 3*2. 4,4*2, 5,6 955,139 in 1880. The following table from the books of the Auditor of
and 7. Population, 202,818 in 1885; 154,766 in 1880; 117,714 in 1870. Hamilton County, Ohio, exhibits the assessed valuation of the city of
C a m b rid g e* M a s s .—The sinking funds, Nov. 30,1886, amounted to Cincinnati in the year 1860, and from 1870 to 1884:
Tax per
$1 299 188, and not debt to $2,208,311. The investments are nearly all
Personal
Total
Real
$ 1,000.
in ’ eity bonds at par and stamped “ not negotiable. Valuation, 1885, Years.
Estate
Valuation.
Estate.
$17 45
real estate $42,588.300; personal $12,758,255; total, $55,346,555; tax 1860................ $61,620,904
$31,411,912
$93,032,716
31 60
rate $155. Valuation in ’86, $44, 1j55,200 real estate and $14,490,470 1870
57,370,754
136,107,236
..... 78,736,482
22 20
personal; total, $59,445,670; tax rate, $1 50 per $100. Population, 1871
180,361,932
56,934,044
.... 123,427,888
20 10
55,462,410
175,084,296
52,669 in ’80; 39,634 in ’70.
_
,
1872
..... 119,621,856
23
0«
C h a r le s to n , S. C.—The bonds of Charleston are mostly held within 1873
64,166,460
185,645,740
.... 121,479,280
23 38
the State of South Carolina. Conversion bonds of 1878 and 1879 are issued 1874
181,950,074
58,708,284
..... 123,231,790
24
82
1n exchange for city stock. Valuations and tax rate per $1,000 have been: 1875
58,521,730
184,498,565
..... 125,976,835
27 04
Years
Real Estate.
Personal Prop.
Tax Rate. 1876
56,809,066
183,952,966
..... 127,143,900
29
10
1883
$15,854,575
$7,419,784
$23801877
50,609,872
179,430,142
..... 128,820.270
28 54
1884 ..........
16,246,865
8.186,216
20001878
172.874,068
43,830,188
.... 129,043,880
28 98
169,305,635
40,832,505
18851"'."."........................ 16,753,760
8,138,153
20001879
..... 128,473,130
31 00
167,535,356
_Population, 49,984 in 1880; 48,956 in 1870.
37,578,376
1880
.... 129,956,980
22
20
C h e ls e a , M a ss.—Sinking fund, Jan. 1,1887, $365,712, andnetdebt, 1881
161.404,393
41,359,163
.... 120,045,230
23 82
$1,296,087. Valuation in 1886, real estate, $16,530,850, and personal, 1882
28,643,917
166,986,105
..... 138,342,188
20
50
$2,275,812; total, $18,806,662; tax rate, $17 80. Valuation in 1884, 1883
169,925,286
47,050,496
......122,874,790
25 56
169,534,192
41,908,822
I I I , 153,497; tax rate, $18 60; in 1883, $17,374,335; tax rate, $18 40; 1884
..... 124,625,370
26
86
170,086,963
in 1882, $17,029,722; tax rate, $18 80. Population, 21,782 in 1880; 1885
42,632,868
.... 127,454,100
25 44
171,950,031
.......................
42,571,661
18,547 in 1870; 24,347 in 1884.
1886
..... .....................
129,378,370
C h ic a g o ,—The city debt is limited to 5 per cent of the Illinois State The city is the sole owner of the stock of the Cincinnati Southern Rail­
valuation. Of the funded debt, $3,955,000 is on account of the Water road, leased as per terms, V. 33, p. 281, and with the waterworks ana
Works, which yield an income much above the interest charge on the debt other property, real estate, and bonds held for investment, has assew
,-------- Equalized Value.-------- . Tax Rate. put at $36,554,631.
Ynars
Real Estate.
Personal, per $1,000.
Cleveland,—The sewer, street lmprovem’ts and street opening bonds
\aao
95,881,71429,052,906
3372
1RQ3..............................
101,596,78731.639,717
3410 are for special localimprovements, and redeemed bv assessments onto"
i o o ? ...............................
105,606.74331.720.257
35 48 property benefited. Assessed valuation, tax rate, debt and sinning
¿885................................
107,146,38132,311,411
3 6 8 1 funds have been:




M a t , 1887. ]

CITY SECURITIES.

9

Snbtcrllxr« w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
INTEREST.
Date of
DESCRIPTION.
Size or Amount
Principal—When
bonds.
par outstanding.
When
Where payable and by
due.
Rate. payable
value.
For explanations see notes on first page of tables.
wnom.
Detroit, Michigan - (Continued)—
Public sewer bonds ($35,000 are 6s).............. 1872 to ’86 $1,C00
$191,500 3*2,6 A 7 F. A A. N.Y., First National Bank 1892 to ’97 A 1906
1879
Bonds for purchase Belle Isle ........................
4 . F. A A.
100,000
do
do
1899
1886
5*,ÖÖ0
Bonds for Bridge.................
30.000
J. A J.
do
do
Jan., 1911
1886
1,000
Public Improvement ...............................
3Jfl J. A D.
370.000
do
do
Deo.
1916
1880
Market bonds....................................................
31.000
1887-1892
Elisabeth, If. J.—Improvement bonds.............. 1871 to ’74 l.ÒOO
850.000
Various
City Treasury,
1879
to
’81
Funded debt b o n d s . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1870 to ’75 1,000
435.000
Various
do
1882 to ’95
School House b o n d s . . . . . . . . . . . . . . . . . . . . . . . . . . . 1872 t o ’73 1,000
48.000
Various
do
1882
t
o
’93
1865 t o ’66 1,000
Market House bonds........ ............. .
41.000
Various
do
1882 to ’86
1875-’76
Consolidated improvement bonds......... ........
1,000
764.000
A. A O
do
1885 t o ’96
1877
1,000
Funded assessment bonds.. .........................
260.000
J. A D.
do
1907
1876
1,000
Tax arrearage bonds...................
M. A N
196.000
do
1886
1882
500 Ao.
New Adjustment bonds and scrip.................
J. A J. N. Y., Mercantile Trust Co.
(Î)
July
1, 1912
1868
Evansville, Indiana.—E. H. A N. KR. bonds...
1,000
250.000
M. A N. N. Y., Farmers’ L. A Tr. Co.
Maj 1, 1898
1869
1,000
City wharf bonds.........................................
100.000
M. A N.
do
do
May
1, 1899
1870
E. Carmi A Paducah RR. bonds.....................
1,000
196.000
J. A D.
do
do
Dec. 1, 1890
1870
do
do
..........................
1,000
100.000
J. A D.
do
do
Deo.
1,
1895
1870
Water works bonds........ ....................
1,000
300.000
J. A J.
do
do
July 1, 1895
1876
1,000
Redemption b o u d s .......................... . . . . . .
300.000
A. A O.
do
do
April
1,
1906
1876
do
do ...........................................
1,000
105.000
M. A N.
do
do
May 15,1906
do
do ....................................... .
1877
1,000
100.000
J. A D.
do
do
June 1, 1907
do
do ..................... .
1878
1,000
100,000
do
do
April
15,1908
do
do ........ .......... ........................
1881
1,000
100,000
F. A A.
do
do
Feb. 1,1911
Fall River, Mass.—City notes..............................
Large.
311.000
Various
City Treasury,
Nov.,
1887
t o '92
City bonds.............................. ...........................
lOOOAo.
45.000
Various
do
1891
do
...........................................................
1,000
600.000
F. A A
Boston,
Revere
Bank.
Aug.
1,1894
do
........................ .............................. .
1,000
450.000
M. A N Boston, Bank Redemption
May 1,1895
do
...........................................................
100.000
do
do
May 1, 1895
do
..........................................................
261,860
do
do
1896-’97-’98
do
(sewer)...............................................
1,000
125.000
M. A N
City Treasury.
May 1, 1905
Water loan...........................................................
1,000
500.000
Boston, Bank Redemption Feb. 1,1900-1909
do
................... .....................................
1,000
450.000
M. A N
do
do
Nov.
1,1892-1906
do
.................................................
1,000
550.000
A A
do
do
Aug. 1,1899-1905
do
................................................
200.000
May
1,1908-1909
Fitchburg, Mass.—Ci ty bonds....................
1873
1,000
400.000
A J. Boston, Merchants’ Bank
July 1,1893
Water lo a n .................................. ............
1871
1,000
300.000
A J.
do
do
July 1,1891
do
........... .
1875
1,000
100.000
A
J.
do
do
July 1,1905-1906
do
registered.............. ..................... .
1883-8
1,000
85.000
A. A O. Galveston, City Treasury
1898 A 1903
Galveston, Tex.—limited debt bds. (sk’g fd. 2 %) 1877-8-9 100 Ao.
510,100
M. A 8.
do
1893-1909
................
do
do
100 Ac.
818,400
A D. New York or Galveston.
1920-1925
Galveston County bonds, G. C. & 8. F. R R __
1882
417.000
A J. N. Y., Bank of New York.
1902
Hartford, Conn.—Water bonds............................. 1865-’81
i*,oöb
887.000
Various
City Treasury.
1890-1906
City bonds (H. P. A F. RR.)..............................
1876
1,000
500.000
A
Suffolk Bank, Boston.
Jan. 1, 1891
Funded debt............................................ ..........
1868
1,000
300.000
IJ. A
City Treasury,
Jan. 1, 1893
Capitol bonds.................................... ............"
1872
1,000
1, 000,000
J. A
do
Jan. 1, 1897
Hartford town debts to railroads 10-25........
1879-’80
1,000
1,250,000
J. A
Town
Treasury,
10
to 25 years
do
do
war............. .................
1863
1,000
70.000
J. A
do
$10,000 yearly
do
floating debt............ ..............
1.000
203.000
J. A
do
Jan.,
1900
Hoboken, N.J.—Bonds......................................
1864-’79 500 Ac.
224.000
Various First Nat. Bank, Hoboken
1887 to 1905
City bonds........ .........................................
1872
500 Ao.
119.500
A. A O
do
do
1892
School bonds........ ..................
” ] 1877’79
1,000
43,750
Various
do
do
1892 to 1894
Water bonds...........................................
Various. 500 Ac
91,500
Various
do
do
1890 to 1903
Improvement bonds............................... I*” I "
1878- ’81
1,000
608.000
Various
do
do
1898 to 1901
City Hall and Engine House bonds............... ' 1880-’83
1,000
75.000
Various
do
do
1903 to 1910
Holyoke, Mass.—City notes................................
1871-’74
180,000
Various
City Treasury,
1887 to 1889
City bonds, sinking fund......................
1874
lyOOO
271.000
A. A O
do
Oct.
1,1889
Water loan
do
..............................
1872
1,000
250.000
J. A J
do
Jan.
1,1900
Railroad loan do
($60,000 are*J.&J.)
1873
1,000
226.500
A. A O
do
Indianapolis—Hoods to railroads..................... 1869 to ’70
Jan.AApr.l,L
931
500
155.000
Jan.
City Treasury.
Jan.
1,18897)'
Bonds to Un. RR. Tr. Stock Yard (mortgage)
1877
1,000
500.000
J. A J N. Y., Winslow, L. A Co,
Loan bonds, series A ..................................
Jan.
1,
1897
1873
1,000
300.000
A
do
do
do
do B
July 1, 1893
1874
1,000
300.000
A
do
do
do
do O
July 1, 1893
1874
1,000
300.000
J.
A
do
do
do
do I)
July
1, 1894
1875
1,000
200.000
J. A
do
do
July 1, 1895
Purchase-money bonds—Southern Park*........
1874
500
109.500
J. A
do
do
Jersey Pity—Water loan bonds, mostly coupon 1852 to ’77 1,000
Jan.
1,
1899
984.000
J. A
N. Y., Meroh. Ex. N. Bank Jan., 1889 to 1909
Water loan bonds,mostly coupon.......... .
1869 to ’73 1,000
3.329.000
Various
Water loan.. . . . . . . . . . . . . . . ..................... .
1899
to
1913
200.000
Forty-year bon d s................... IIIIIIIIIIIII***
Feb. 1,1913
1872
1*,ÖÖ0
517.000
J. A "J,
Improvement bonds........................
July
1,1913
1871-’72 500 Ao.
2.669.000
M. A N,
do
do
................
May, 1891
1872 t o ’74 1,000
2,630,500
Various
Morgan street dock........................
1892 to 1906
1870
1,000
125.000
J. A J
Funded debt bonds..........................
June
8, 1900
1872
1,000
500.000
M. A N
Old Jersey City bonds, coupon.... ................ 1864-’65
May 1,1897
1,000
558.000
Various
Hudson City bonds...................................
1889-1890
1864-’70 Various
100.000
Various
Bergen school loan bonds............... .
1869 A 1900
1868-’70
,000Ac
150.000
J. A J.
Bergen street improvement bonds MU...........
Jan., ’ 98 to 1900
1869
OOOAo
400.000
J.
A J.
do bounty loan...................
...........
July, 1889
1865
Various
41,000
Various
Assessment funding bonds. ...
1889
1875-’76
900.000
Various
Temporary loan...............................II*” ” .’ ! " "
1905-193.
975.000
Bonds to fund floating debt. Ac., coup, or reg
Demand.
1879
1,000
1.353.000
F. A A. N. Y., Merch. Ex. Nat. B’k.
Bonds to pay maturing bonds, A c .... . .
Feb. 1,1909
1880-’l
600.000
Various
City of Jersey City loan ........... .......................
do
do
1910-1911
1884
1, 000,000
Kansas Oily, Mo.—Renewal bonds...1111
___ _
1904
1875
to
’81
390.000
I Funding bonds..................
........
New
York,
Ninth
Nat
.
Bank
1895
t o ’98 A 1901
1873
250.000
d0___________do
I
May 1.1893
Tears. RealAPersonalty. T a x * 1,000. General Debt. Special Debt,
X®ars.
Real Estate.
Personalty,
Tax.
Debt.
1885........ HsSZf’o
i?
$3,386,000
«$875.800
w
1 | 9 4 ................. $ 13.527,090
$6,519,820
» -5,283,845
14?*»«
fi Q17 nun
$10 00
$1,651,00
703,000
I
f
«
..................
13,«63.645
6,682,895
-Population, 160,146 in 1880; 92,829 in 1870
’
10 00
1,651,00
1886 ...............................$17,273,340---------- . S
S
S
f Â
Ï ’ SS ? SJfSPSS
*5 * i k 2 ; * 94’ *27*» v 43- p- 607; V. 44, p. 335.)
laav
funds amounted to 8 831,3 81 Jan 1
1887. Population in 1885. 56,863; 48,961 in 1830- 26 766 in 1870
Valuation in 1885, $43,815,275
’ ■60’ /0 ° in 1870 •
îà o ’ fiOO TTh P01? lati0“ TS 1870 was' 79,577r*iS’80, "n é
la debt of $1,451,000°keptemb^r^1885
^3’ 500»d0(>- against
lare issued on a pledge of the city ereditanti i m n m t6r works bonds

» r A f - 0 0 * ta l937-' ~ *'
188«
VSS® oi roal and personal property
rate $ f i V n: ? ^ H ak roai 6
59; ,1885’ valuation, $18,588,196; ta r
were ealtod
t n s « l 882’ tbe Galveston County 10 per cent bond
M
M
a
s
m i9™

Tax Rate,
$11-41
* H F 21-995
116.249,945
10-77
33,427,589
133,418,080
10-82 8Q828 « ’7 51i^^Ai9\e38e<i,^'=L^,;loa la 1986, $15.7 )0,000; in 1885, $45 ’
8 nits on bonàs^)r<f pam fhf-^ old u n a d w aÎ 8l est February 1,1879, 898,36». Population,42,553in 1830; 37,743in 18 7 0 .
P4, J * —The total debt June, 1835, was $1161 7 5 0
§2,592,739. Total bonded fnrt
boads aud loans are
640. A proposition totasue
15 1885, $4,2)4,▼alue of o lO o n d s w m m4J f
b. n it aÎ / 0 pf oenfc of tü«> face
new bonds have been isiu S
a 0
ibis amount of the
Yorkacts as the agent. Assessed
Trust Company in New
1 8 8 0 ;*l0 /^ i¡n 3i87^^7^895’ a’ x 8 9 v ' 4 U 8 ’ '
» W » « *•
its1 “ * ! taxa fg>l l 5 r r ^ eiSao?v01 B2.ari?V5a dl8tlQ0t organizat’ n and levies
are a f e w
1 8 3 4 ) ’ w h io h 18 included i n tax rates. There
fn 18 8 0 ^
( n f a s f T amounting to $50,000. Population, 75.036
* 8,244
Valuation and tax per $1,000 have been:
[fince A p r i i , ' ' ¿ o L p ^ i 8 Ä
d£ ault la
i n t e r i Yea™
Real Estate.
Personaltv.
Total.
Tax
IÇo., of Boston, have
•ln Progress, and C. H. Venner A rears.
................$13,792,290
$»3,123,150
$11-20
fcssue 413 per cent bonds tor Redemption*«?ardo *
ttie Plaa being to
40,149,950
13,891,650
54.041,600
12-20
lil0?QQrt 8ee C huonicle , V. 4 1 n^335 hs, and 5 per cents for Redemp—Hu® i’1.?*10 mam causes 01 past trouble in jersey City
Assessed v a l u a t i o n tQ 1870, 21,830; amount8 i V t 1b,ttea
,,tbe failure to oolleot back assessments and the large
land debt have been :
uo® I*™6 value), tax rate per$l,000
of railroad property exempt from taxation, but these matters
are being remedied and RR. property is bearing a share of the taxation*
î i i t : ” *;; • S g S H J g
[1886---- 10olo2ol991




10

INVESTORS’

SUPPLEMENT

[V o l . X L I V

Snbecriber» w ill confer a great favor by giving im m ediate notice of any error discovered in these Tables.
INTEREST.
DESCRIPTION.
Date of
Size or
Amount
Principal—When
par outstanding.
Bonds.
When
Where Payable and by
Due.
Rate.
For explanations see notes on first page of tables
Value.
Payable
Whom.
Kansas Oily, Mo.—(Continued.) —
Floating debt b o n d s ..............................
Railroad bonds............................. .............
School bonds...................... ........ ..............
Lawrence, Mass.—Sewer loan......................
Funded debt................................................
do
................ ft............................
Water loan............. .....................................
Long Inland O ily- General bonds..............
Tax or revenue b o n d s ...........................
Louisville, Ky.—Water works..................... .
For improvement of streets.............
For municipal improvement................... .
Re-oonstructing street............................. .
Public buildings and institutions.......... .
Public school and school houses............
Sewer bonds...............................................
do
...............................................
Elizabeth A P. Railroad...........................
Wharf property.........................................
Jail bonds..................................................
For old liabilities.......................................
.....................................
do
do
do
do
....................................
do
do
(half are 10*40 and half 20-40)
Louisville, New Albany & St. L. Air Line RR
Road bed, Louisv. ,Cin. A Lex. RR ................
City bonds payable by Louisv. & Nash. R R ..
Lowell, Mass.—City notes (various purposes)..
Bridge notes.......................................................
Bridge bonds.....................................................
Sewer bonds........................................................
Water notes........................................................
Water bonds...................................... .................
Sewer notes........................................................ .
Bridge notes........................................................
Lynn. Mass.—Water notes.................................. .
water bonds.......................................................
Funded debt.......................................................
City Hall and School Houses............................
Engine House and sewer bonds.......................
Manchester, N. EL.—City b o n d s ...........................
Water bonds ($100,000 each year)..................
do
do
do
..................
Bridge bonds.......................................................
Memphis, Penn.—School and paving bonds........
Post bonds...........................................................
Funding loan, gold.............................................
Mississippi River Railroad bonds...................
Endorsement Memphis A Little Rock RR.......
Compromise bonds, coupon (Flippen).............
New compromise bonds.....................................
Milwaukee, Wis.—Re-adjustment bonds.............
General city bonds.............................................
do
do
(not liable to be called in)
do
do
..........................................
Bridge bonds......................................................
Water bonds, coupon..........................................
do
registered.....................................
do
coupon
................................
Waterworks refundin. .....................................
Minneapolis, Minn.—City ponds........................
City bonds......................................... ................
do
($366,009 due 1912 are red. 1902).
do
...........................................................
Mobile—Funding bonds........................................
Nashville. Penn.—Various city bonds................
Municipal Bridge bonds.....................................
Newark—War bds.,float’g debt, Ac.. (s.fd. of ’64)
Public sohool bonds............................................
Clinton Hill bonds, coup. & reg. (s. fd. 3 p. c.).
Corpora te bonds, coup, or reg.fact Apr. 21,’76)
Sewer and improvement bonds (local liens).
Aqueduct Board bonds($2,490,000due in ’92)
Tax arrearage bonds................................
do
do .................................
do
do .................................
Funded debt bon is ...................................
Annexation bonds, reg.............................
City ta x......................................................
New Bedford, Mass.—City improvement..
Water bonds...............................................
do
..................................................
do
..................................................
do
I................................................
Sewer and Bridge bonds..........................

1875
1885
1884
500Ac.
1862 to ’75 5000&C.
1881 to ’85 10,000
1873-’75 500 <fec.
Various. Various,
1883-’86
500
1857 t o ’67 1,000
1866 t o ’67 1,000
1883
500 &c.
1873
1,000
1871 to ’73 1,000
1853 t o ’69 1,000
1868
1,000
1871
1,000
1868 & ’73 1,000
’54,’62,3,8 1,000
1869
1,000
1871 to ’74 1,000
1868
1,000
1886
1880
1 , 0*00
1871
1,000
1871 t o ’73 1,000
1851 to ’63 1,000
1862 t o ’84 Large.
1882
Large.
1882
1,000
1882 A ’83 1,000
1871 to ’81 Large.
1870
1,000
1883 A 84
1883
1870-’3-’5 Large.
Various
1,000
Various 500 Ac.
Various
1,000
1884
1,000
1869-’85
1872-’74 10Ö&C.
1872-’74 100 Ac.
1881
100 Ac.
1867 t o ’68
1867, ’8. ’9 500 Ac.
1870
1,000
Ì857
1,000
1877
1,000
1883
1,000
1861
500 Ac.
1871
1,000
1876
1,000
1885-6
....
1882-’83
1,000
1872
1,000
1872
10,000
1883-’86
1883-’84
1,000
1870 to ’75
1871 t o ’81
1881 t o ’86 1,000
1886-’87
1,000
1881
500
1870 t o ’81 100 Ac.
1885
1,000
....
....
1,000
1368 t o ’86 1,000
1875
1,000
1878-’80
1,000
’71-’79-’86 1,000
1867-’86
1,000
1877-’78
1,000
1879 t o ’83 1,000
1886
1885
1886
1,000
1886
1875-86 Various.
1876
1,000
1867 t o ’7h 1,000
1872-’74
1.000
1884
5,000
1881-’86
1,000

142.500
248.000
60,000
300.000
459.000
150.000
1.300.000
911.500
438.500
1.120.000
190.000
1.500.000
600.000
519.000
33.000
81.000
423.000
1.692.000
159.000
133.000
54.000
513.000
500.000
1 , 000,000

481.000
350.000
333.000
469,300
200.000
120,000

382.500
575.000
1.300.000
176.500
77.000
172.500
1,1.9,500
595.000
232.500
246.000
313.500
200.000

400.000
60.000
s5

1895
1890 A ’97
1905
1887 to 1894
1891-95
Oct. 1, ’90. to 1906
in instalments.
1889 to 1903
1887, ’89, 97
1887,’ 96, ’97
1923
July 1, 1903
1891, ’92 A 1903
1887 A ’89
July, 1898
June, 1901
1888 A 1903
1888 to 1898
Oct. 1, 1898
1889
1894 A 1901
1911
May 1, 1920
Sept., 1891
July, 1901 A 1903
1 fiQQ
1887 to 1894
1891 and 1892
1892
1887 to 1903
1887 to 1911
1890
10 perct. annually
10 per ct. annually
1887 to 1890
1891 to 1913
1887 to 1896
1887 to 1890
1887 to 1894
July 1,1890 A ’ 95
1887-’92-’97-1902
July 1, 1911
1873 to 1902
1873 to 1900
Nov., 1900

◄o
7
J. *A *J.
July, 1672
Charleston, S. C.
rH
6
1907
J. A J. N. Y., Nat. Park Bank,
2,400,000'
3-4
1913
do
do
125.000
5
J. A D
194,000
7
J. A J.
Jan. 1,1901
do 9
do
98,000
7
J. A D.
June 1,1896
do
do
4
293,000
J. A J.
do
July 1,1905 A -.906
do
4
64,000
July 1,1902
J. A J
do
do
Jan. 1,1902
312,000
7
J. A J.
do
do
949,000
J. A J.
Jan. 1.1902
do
do
7
4
378,000
1903 A 1906
J. A J.
do
do
1903-1904
263,000
4
J. A J
do
do
1887-1905
621,000
Various New York. Nat. Park Bank.
8
1893-1902
422,000 5, 6, 7 Various
do
do
1,957,000
1906 to 1916
do
do
4-4 *« Various
739.000
4 4 is Various
do
do
1914 to 1917
Jan. 1, 1906
2,250,000
3 to 5 J. A J.
New York and Mobile.
1,395,600
Various New York and Nashville.
1887 to 1903
6
200,000
5
A. A O N. Y., Chemical Nat. Bank.
Óct. 1. 1905
1907-1915
450,000
6
do
do
550,000
7
Various Newark, City Treasury.
1891 A 1896
1887 to 1892
580,000 4 's, 5, 7
do
do
400,000
7
July 1, 1895
J. A J. Newark, Nat. State Bank.
1,200,000
5 A 6 Various
1909 A 1910
do
do
1893 A 1906-’09
2,450,000 4,4*2407 M. A 8.
do
do
189i to 1909
3,497,000
Various
do
do
7
1887 A 1888
476,000
7
F. A A.
do
do
1889-’95
1,114,000
5
F. A A.
do
do
419 J. A J
97,000
July 1, 1896
do
do
1895
232,000
5
F. A A
do
do
126,000
4
1906
158,000
4
1906
328,000
A. A 0.
1891 to 1910
6
City Treasury.
1900 to 1904
100,000
5
A. A O.
do
360,000
1887 to 1909
do
6
A. A O.
160,000
do
1887 to 1909
7
A. A 0.
100.000
4
do
1894
13\000
S '« - ! A. A O.
do
1887 to 1906

Collections in 1886 were better than in 1835 by about $150,000, and
the city also received $210,000 from taxes on railroad property col­
lected by the State. Population in 1880,120,722. against 82,546 in ’ 70;
in 1885 by the State census population was 155,300. Taxable valua­
tions and tax rate per $1,000 have been:
Years.
Real Estate.
Personal Prop. Tax Rate.
.......................... $56,125,552
$5,640,300
$29 00
1882
1883
.......................... 58,287,892
4,664,390
29 40
1884
.......................... 61,571,512
4,564,683
32 80
1886.................................... 61,894,739
4,985,200
29 40
The value of railroad property, not included above, is about $25,000,000, whioh is suDjeot to a tax rate of l per oent for city purposes.
K a n sas City, m o .—In 1885 assessed valuation was $31,678,520
•nd tax rate 15 mills. In 1886 real estate valuation was $36,833,550;
personal, Ac., $9,553,240; tax rate, 14 mills.
Law ren ce.m ass.—Total debt, $1,764,000. Slnkingfunds, $325,534.
Tax valuation in *84, $27,369,095; in ’85, $27,144,050; tax rate, 16*60;
in ’86, $27,165,590; tax rate, 16-40. Pop., in 1884 45,000; 39,151 in
’80; 28,921 in ’ 70.
Lon g Isla n d City.—The interest on $514,500 of the general bonds
Is payable from taxation, and on $397,n00 fivm water rents. The tax
or revenue bouds issued in eaoh year are chargeable on the uncollected
taxes and water rents of a previous year, and ail interest on these bonds
Is paid from the oolleotton of back taxes and interest. The assessed
valuation in 1885 was $7,299,170 on real estate and only $37,500 on
personal property; the rate of tax was 4-04. For átate purposes the
valuation was increased to $10,000,000. Real valuation about $25,
000,000. Population. 25,000.
L o u isv ille.—The funded debt, Jan. 1,1887, exclusive of loans paya­
ble by railroads, was $9,352.000, against $9,616,000 Jan. 1,1886. The
sinking funds on Jan, 1 , 18t?7, amounted to $4,373,831. Population by
Census of 1870 was 100,753, against 123,758 In 1880. The following
figures give the assessed property valuation; 1881, $68,753,770; 1882,
$70,029,724, of whioh $52,269,684 was realty. In 1883 valuation
866.118,534. tax rate 2-10; in 1884, $63,927,077. tax rate 2-10 ; in
1885. $62,763,461, tax rate 2*48; in 1886, valuation, $64,405,515; tax
rate, 2-04.
L o w ell) m ass.—All the notes held by savings banks. Population




8
J. A J.
do
do
7
do
do
5
,T. A "j.
4
J. A J.
Lawrence or Boston,
6
Various Boston, Tremont Bank.
4
J. A D.
Lawrence, Mass,
A. A O.
6
do
do
6 A 7 Various
N. Y. City A L. I. City.
5 A 6 Various
do
do
6
Various N. Y., Bank of America.
6
Various
Louisville.
4
J. A J.
New York City.
J. A J. N. Y., Bank of America,
7
7
Various
do
do
6
Various New York, U. 8. Nat. Bank.
6
J. A J. Louisville, City Treasurer.
7
J. A D. N. Y., Bank of America.
7
Various
do
do
6
Various Louisville and New York,
6
A. A O.
do
do
J. A D.
6
do
do
7
Various
do
do
5
N. Y., Nat. Bk. of Republic.
O N . N. Y., Bank of America.
5
M. A S. N. Y., U. 8. Nat. Bank.
7
J. A J. N. Y., Continental Nat. Bk,
7
6
Various New York and Louisville.
4 to 61* Various
City Treasury.
M. A N
4
Boston,
M. A N.
4
do
4
Various
do
6 t o e 1« Various
City Treasury.
M. A N.
6
Boston.
4
Various
City Treasury,
4
Various
do
6
Various
City Treasury.
3's to 6 J. A J. Boston, Bank Republlo.
5, 51«, 6 Various
do
do
3T*. 4, 6 Various CityTreas’ry A Bk. Repub,
3% A 4 Various
do
do
6
City Treasury.
Various
6
J. A J
Suffolk Bank, Boston.
6
J. A J.
City Treasury,
4
J. A J.
do
6
J. A J.
Memphis.
6.g. M. A N.

59,475 in 1880; 40,923 in 1870; 75,000 in 1884. Assessed valuation
In ’84, $36,510,201 real eat. and *14.671,634 personal; tax rate, $17 50.
L y n n . m ass.—Valuation ’S3, $24,687,524; rate, $19 60; in 1884,
$27,548,581; tax rate, $18*40. Population, 28,233 in 1870; about
45.000 in 1883.
mancltester) N. H . —Valuation in 1835, $21,137,464; tax rate,
$17 50 per $1,000. Population, 32,630 in 1880; 23,536 in 1870.
mempUlS) T en n .—The city was in default for interest after Jan. 1,
1873. The Legislature passed a bill, January, 1879, repealing the oity’s
charter, and the “ Taxing District of Shelby County” was organized.
The compromise bonds of 1877 were issued at 50 cents on the dollar.
Under the aot of Tenn. March 3,1883, new compromise bonds are issued,
bearing 3 per cent till January, 1886, then 4 per cent till 1889, and 6
per oent thereafter. The total debt when funded will be nearly
$3,000,000. Valuation of real and personal property iD 1883, $12 690,318; tax rate, $2 35 on the $100. In 1884 valuation of real and per­
sonal property, $13,499,325: tax rate, $2 35. Population in 1870,
40,226; in 1880, 33.592; in 1884, 62,335.
m il w au kee. W ls .—The city cannot issue debt beyond 5 per ot. of its
average assessed valuation of real and personal property for five years. In
1884 valuation was $74,951,750; in 1885 real estate, $61,445,9 21 and per­
sonal, $17,415,445; in 1886, $32,641,743. Sinking funds are provided,
and all old issues except the general bonds due 1896 may be oalled in
and paid by sinking fund; holders were misled as this was not stated
in the bonds. Population, 71,440 in 1870: in 1885 (estimated), 160,000.
m in neap olls, m in n .—Total debt, $3,739,000 Feb. 15,1887; sinking
fund. $332,000; tax valuation in 1837, $33,008,856 real estate and
$16,582,906 personal—total, $99,591,762; tax rate, 17‘ io to 19 mills;
in 18«5, $77,500,000; in 1884, $74,308,711: tax rate 1885, 20 mills.
Population, 46,887 in 1880; 160,000 (estimated) in 1886.
m ob ile.—Interest was in default from July, 1873. A settlement with
bondholders was offered by act of March 9,1875. In Feb., 1879, the
Legislature repealed the charter of the city. In Oct., 1880, bondholders
offered to take new 25-year bonds, bearing 3 per cent for 5 years, 4 per
oent for 15 years, and 5 per oent for 5 years. In July, 1886, the un­
funded debt was $34,632. Valuation oi real and personal property m
1883, $15,350,738; in 1881, $13,578,347, in 1885, $13,763,822. Popula­
t io n 's ,000 in 1885; 31,297 in 1880; 32,034 in 1870.

M a y , 1887.]

CITY

SECURITIES.

1 1

S«tl»«crfber» w ill confer a great favor by givin g Im m ediate notice o f any error discovered in these Tables.
INTEREST.
. „ . . . __
Date of
DESCRIPTION".
Size or
Amount
par outstandlug.
Where payable and by
due.
Rate.
payable
Value.
Whom.
For explanations see notes on first page of tables..
New Brunswick. N. J.—
Water bonds ($20,000 are 6s).

. 1864,73-74 $ ....
6 A7
$193,500
City Treasury.
1887-1900
) 1367-69
130.000
7
••••
do
1892-97-99-190*
....
7„
. 1876-78
50.000
do
1888
....
1873
.7
da
50,000
1887-92
....
. 1881.85
5 A6
87,000
do
1901-190»
....
. * ....
836,600
6 A7
do
1894-1903
1871
A. A 0.
1,000
499,000
7
City Treasurer.
Oct. 1, ’9141901
1877
J. A J.
1,000
150,000
5
do
July 2 , 1S87~’97
1885
1,000
150,000
do
3ia F. A A.
1895 to 1904
. 1854 to ’84 1,000
5, 6 ,7 J. A J.
New Orleans—Consolidated debt............
932,878
New Orleans.
1892 to 1034.
....
6
Consolidated debt, extended...............
1,000
4,244,500
J. A J.
do
1892 to 192»
1883
6
J. A J.
Ten year certificates to fund coupons.
2,112,108
do
Jan., 1893
. 1854-75
1,000
6
Various
397.000
do
1894 to 1 9 2 »
1869
567,750
6 A 7 M. A 8.
Seven per oenr funding loan ot 1869.
do
1894 A 1922
1870
375,750
Sev®n per oent fun Ung loan of 1870.
6 A 7 J. A D.
do
1895 A 1922
d
1857
65,500
6 A 8 Various
do
1897 to 192»
Premi ra bonib ( n exchange)................
1875
7,584,680
5
do
When drawn.
1869
82,400
5 A6
Water Works ($70,400 extended)...........
do
1899 to 192»
378.130 6 to 10
. 1857 t o ’7Î
Other ol d bonds ($.*05,500extended) ...
do
1892 to 192»
. 1867 to ’»6 l.OOOAc
415,200 3ia to 6is Various
Newton, Mass.—City bonds and notes........
City Treasury.
1887 to 1914
. 1875 to ’86 l.Ooo
1,031,000 313,4,5,6 Various Boston, Comm’nweklth Bk July 1, 1905 t o ’1 *
Water loan ($600,000 6s)..........................
1869-’70
100
3,904,700
M. A N.
New York—Accumulated debt bonds, city.
7
1887 to 1888
. 1869-’70
100
3,600,000
7
M. A N.
Accumulate d debt bonds, county...........
1887 to 1888
1884
3
M.
A N.
500
1,172,000
Armory bon ds...........................................
Aug. 15, ’94 ,19 0 *
. 1879 t o ’81
500
3,-18,000 3,313,4,5 M. A N.
Assessment bonds....................... ...........
Nov. 1.1887, t o ’9 «
. L868 t o ’8E
500
3,277,050 4,5,6 A 7 M. A N.
Assessment und s t o c k . . . . . . . . .. . . . . . . . . .
1887,1903 A 1 9 1 «
1,331.300 5, 6 A 7 M. A N.
. 1872 t o ’77
500
Additional n,e w Croton Aqueduct stock..
Aug. 1,1900
. 1847 to ’52
Croton water stock ............................
100
321,400
5A6
Q .-F .
O
Feb. 1,1890
gt
Additional Cco_ „w aterstock................
. 1871 to ’85
500
5,609,000 3iato 6,7 M. A N.
1891, ’99 A 190*
500
. 1883 to ’84
3, 313 A. A O.
445.000
O
Oct. 1. 1933
O
1885-6
500 10,000.000
Additional Water 8took.....................
3, 3ia A. A O.
Oot. 1, 1904 A TR
. 1871 t o ’81
500
5,196,000 4 ,5 ,6 A 7 M. A N.
Croton water main8 stock........................
¡2
Nov. 1 ,1900-190«
0
•
1866
100
20,000
6
Q .-F .
Croton Reservoir bon d8................... .
Aug. 1, 1907
. 1857 t o ’5£
100
6
Central Park fund sto cj£..........................
3,066,073
Q .-F.
Nov. 1,1887
. 1856 to ’5É
do
do
.................
100
674,300
5 A6
Q .-F .
July i ; 1898
l
a
. 1857 to ’6C
100
Central Park improvement fund stock,
2,083,200
6
Q .-F .
Aug. 1, 188T
. 1865 t o ’71
100
1,766,600
6
do
do
Q .-F .
June 1,18951869
100
75,000
7
City Cemetery stock................................
M. A N.
Aug. 1,1888
. 1869 t o ’78
500
7,977.515 5, 6 A 7 M. A N.
City improvement stock..........................
0) Q
Q
Nov. 1,1889 A '9 a
) 1876 to ’80
500
do
do (cons., $687,803 red. a
5 A 6 M. A N.
701,419
fa
1900 A 1926
1874
City lmpr. stook toons, st’k), op., exoli. for reg
500
820,000
6 g ; M. A N.
Nov. 1,1896
q gi
. 1869 to ’70
City Lunatic Asylum stook.....................
100
700,000 6 A 7 M. A N.
H
Aug. 1 , 188»
1871 to ’ 80
City parks Improvement fund stock---500
4,799,000 5 ,6 A 7 M. A N.
1901-1904
•1
. 1871 A ’72
500
8,885,500
6 g. J. A J.
July 1.1901
1871 & ’72
city,
do
500
do
4,252,500
6 g. J. A J.
July 1.1901
ad
dock bonds
do
1871
500
do
1,000,000
6 g. J. A J.
July 1,1901
city pks. inrpr. fd. st’k, do
1872
do
500
862,000
e g . J. A J.
Jan. 1.1 90 2
p5
red. aft. 1908, op. ex. for rg.
1878
ns
500
do
6,900,000
5 g. M. A N.
Nov. 1,1896
city, coupon exoh. for reg. 1874-’75
500
do
1,564,000
6 g; M. A N.
Nov. 1 ,1928
city, (A).............................. 1872 to ’74
do
500
2,455,000 6 4 7 M. A N.
a*
Nov. 1,1894
county (A A B )........ .
1874
do
500
1,680,200
7
J. A D.
Deo. 1,1896
1874
city (B & C).......................
500
do
6,324,700
7
J. A D.
Deo. 1,1896
city ¡ D E A F ).................... 1876-’77
do
500
5 A 6 M. A N.
1,858,349
May
1,1916, A ’2 «
g-oi
city ( O E L A M ).. . . . . . . . . 1877 to ’84
do
500
941,135
4 A 5 M. A N.
Nov. 1, ’89, ’97,*0«
city..................................... .
1880
500
do
4
2,800,000
M. A N.
Aug.,
1894
Id
consol, st’k (Riker’s Isl’d).
do
1884
500
180,000
3
M. A N.
Nov. 1,1910
(HarlemRiveiBridge).. ..
do
1886
500
400,000
3
M. A N.
Nov.
1,
1906
AOT
•a C8
Dock bonds
1870 t o ’84
500 11,053,000
3 to 7 M. A N.
Nov. 1,1901-1915
Consol, stock (Metropolitan Museum of Art)..
1884
600
25,000
3
VI. A N.
Nov.
1,1905
3 .a
Fire Department stook..................................... . 1869-’70
100
521,953
6
VI. A N.
Nov. 1,1899
Market sto ck .................................................... . 1867 to ’69
100
296,000 6 A 7 VI. A N.
May 1,1894 A ’V f
Museums of Art and Natural History stock. 1873 t o ’81
500
958,000 4, 5 A 6 VI. A N.
May 1,1903
Eh
N. Y. City bds.for const.of bridge ov.HarlemR 1879 to ’84
500
499,500 3 ,4 4 5 VI. A N.
Nov. 1,1891
N. Y. Bridge b o n d s ........................................ 1869 to ’ 75
100
1,500,000
6
WAN.
Nov. 1,1905
«Su
do do Consol, stock, redeem, after ’96.......
1876
500
500,000
6
VI. A N.
May 1,1926
do do $500,000 af. ’96,$1,421,900 af 1900. 1876 to ’80
500
1,921,900
5
Q.—F.
May 1 , 192«
do do $750,000 af. 1903, $416,666 af. 1905. 1880 t o ’83
Go
500
1,166,6(6
4 A 5 VI. A N.
May 1, 1928
Ninth District Courthouse bonds.....................
1871
500
300,000
7
WAN.
Nov.
1 ,18 9 »
Normal school fund stock................................ 1871 A ’72
500
200,000
6
M. A N.
Nov. 1,1891
N. Y. Co. Courthouse st’k, Nos. 1, 3, 4 & 5 __ 1862 t o ’82
100
1,716,000 i, 5,6 4 7 d. A N.
3°
Nov.-1,
1887-’98
New York County repairs to buildings stock..
1870
500
60,000
6
M. A N.
Nov. 1, 1887-’8 8
N. Y. and Westchester Co. improvement bonds
1871
500
30,000
6
VI. A N.
Deo. 1,1891
Public school building fund stock..................... 1871 t o ’74
500
636,000
6
VI. A N.
»s
Nov. 1,1891
School House bonds........................................... 1884-’85
500
802,845
3
VI. A N.
a
Aug. 15,1894
Street improvement bonds................................ i860 A ’70
100
606,900
6
M. A N.
Nov.
1,1888
Soldiers’ bounty fund bonds..............................
1864
100
2,510,400
6
VI. A N.
1887-’90
do
do
No. 3 .....................
1865
100
745,800
7
VI. A N.
C
D
Nov.
1
,1895-’9T
Soldiers’ bounty fund red. bonds, No. 2...........
1865
100
376,600
7
VI. A N.
Nov. 1,1891
Tax relief bonds, No. 2, coup. exch. for reg__
1870
500
3,000,000
7
VI. A N.
Nov.
1 ,189«
Third District Court-house bonds.................... 1874 to ’77
500
398,000
5 4 6 VI. A N.
Nov. 1,1890
Water stook of 1870...........................................
1872
500
475,000
VI. A N.
6 47
|
Nov.
1,1902
Debt of annexed territory of Westchester Co.
500
700,000
7
Various
1887 to 214T
l
City tax bonds......................................
Improvement bonds— ..................... .
Sinking fund bonds..............................
Commissioners of streets and sewers.
New Haven, Conn.—Sewerage...............
City bonds (10-20 bonds)...................




Net funded debt....... $92,047,403
Revenue bonds...............
2,358,825

$89,361,426
3,670,525

$34,777,26«.
5,618.36a

Total net debt.......... $94,406,228
$93,031,951
$90,395,634
Tbe population of New York, by the U. S. Census, in 1870 was 942,292.
and 1,206,299 in ’80. Jan. 1, ’65, and since Jan.,’ 72, the valuation, rats,
of taxation, and net funded debt at end of year have been as follow s:
Real
Personal
Tax p. $1.000
Net Debt».
Years.
Estate.
Estate.
State. City.
Dec. 31*
1865.......... $427,360,884 $181,423,471 34 96 $24 94
$35,973,59T
1872......... 797,148,665
306.949,422
5 20 23 81
95,467,154
1874t.. . . 881,547,995
272,481,181
6 65 21 35
114.979,97«
1875
883,643,545
217,300,154
7 27 22 13
116,773,721
1876
892,428,165
218,626,178
6 51 21 49
119,811,31«
1877
895,063,933
206,028,160
3 78 22 72
117,700,74»
1878
900,855,700
197,532,075
3 56 21 94
l l 3,418,40«
1879
918,13i,330
175,934,955
3 43 22 37
109,425,414'
1880
942,571,690
201,194,037
3 12 22 13
106,066,24«
1881
976,735.199
209,212,899
3 6 0 22 60
102,618,301
1832..........1,035,203,816
>— 22 50198,272,582
100,388,483
1883
1,079,130,669
22 90
197,546,495
95,529,90«
1884
1,119,761,597
22 50
218,536,746
94,406,223
1885
1,168,443,137
24 00
93.031.951
202.673,866
1886
1,203,941,065
22 90
217,027,221
90,395,634
1887
.1,257,275,903
* Less sinking fund.
t Annexed towns includer«
. . . . . . .

i
financial statement made for April 1,
1885, showed the taxable real estate assessed at $4,118,300, and perra‘ « ’ |6’99- The t o ^ fuuded debt April
l , 1886, was $1,562,000; sinking fund, $90,917.
New H a v e n , C o n n .-B o n d funds, $134,784. The citv made a
$225000of
thl N dW Have.n & »erb y RR„ and guaranteed
$225,000 of its 2d mort. bonds. Popula. in 1870,50,840- in 1880 62 e82
Y
^ R
S i f f 0 p- 0h of t g * vatee),ta T Y a te^ fh aV e be!n:
lllT '
Rate of Tax. Tot. D’bt. Skg.Fds.&o.
........
$14,271,224
u mllla. $714,000
■ 42,<100,000 16.000,000
11 mills.
819 000 SI14 078
1886.... 43,500,000 17,500,000
ll 5
799,000
June, 30Of 88fin *i*« T 1®
61 en in the above table is as outstan ling
ce“ 40 year bonds
5 laY wa8 Passed to issue new 6 pef
bonds rim till 1323 hut1
bo^ds otb8r tbg11 premiums; the extended
is s u e d X overdue oonnr>™f®«- retl6«mable after 1895. Certificates were
years the eertifleat^0^ 0^8 to.,Jan. 1, 1883, and though made for ten
property real a n d ^ rfn n S
option" Tbe assessed valuation of
I884! $ li4 58l 744-ia^n™5-£°i ^88? 0^as $103,091,103; tax rate $2; in
in I s 86, $127 7<’ 5 8 5 3 ^ a lr « f i Lo Z285,’ $123,929,268; tax rate $2*54i
a bond premium drawintifii!.ntei^2- 02' -^scheme for settling the debt by
J a n u a r y S r i M » £ in practice, and drawings take place
216,<&<*
P
’ J y 31 and 0 c*ober 15. Population in 1880,

Newton^ m ass.—Sinking funds, Jan. 1, ’87, $237.978. In 188*.
valuation $27,814,561; tax rate, $14 40. Valuation in 1885 $23,999.
820; tax rate, $14 per $1,000. Valuation in 1886, $31,016.930: t a *
rate, $14 40. Population 19,759 In 1885; 16,994 in ’80; 12,825 in ’70.
City.—The total debt of New York, January 1,1887, was
$125,982,736; the amount of sinking funds, $41,205,470. The follow­
ing statement shows the details of funded debt and the amount in th&
city sinking fund at the dates named:
Description.
Jan. 1, 1885.
Jan. 1,1886.
Jan. 1 , 1887$125,475,240 $121,982,73«:
Total funded debt..........$126,371,138
Sinking fund.................. 34,823,735
36,113,814
41,205,470

. . . .

Nashville, V e n n .- Assessed valuation of all property in 1880 was
$25,671,200; tax rate, l> jp .c . Population, 43,350 in ’80; 25,865 in ’70.
N e w a r k . - 1The bonds in the first line in the table are payable out or
the sinking fund of 1864, which amounted Deo. 31,1886, to $550 471;
public school bonds out of public school fund, $488,265: Clinton’ Hill
bonds by sinklnic fund $263,560. Tbe total amount in the sinking funds
31,1886, was $2,622,063. The Aqueduct bonds are not a direct
liability of the city of Newark. Real and personal property have been
two-thtoisoi true value as follows: 1884, real estate,
$7A’taa’7?n'’ Per8ona\'
^ax rftte, $2 03; 1883, real estate,
J1 0 5 personal, $18,730,160; tax rate, $1 93. Population in
1870,105,059, against 136,508 in 1880, and 155,000 in 1885*
.
Bedford, M a ss.—Popuiation, 35,000 in 1886; 21,320 in
«T
i A i ^ ^ ? 8edvalu,?tlon8ia
l 8 '2$16
were
real estate and
$15,416,659
personalty; tax rate,
per $16,778,900
$1,000.

INYESTOKS’

1 2

SUPPLEMENT.

[V o l . XLIY.

8nb»crlber« w ill confer a great favor by (giving Im m ediate notice o f any error discovered In the»« Table».
INTEREST.
Principal—When
A mount
Size or
Date of
DESCRIPTION.
Due.
Where Payable and by
par outstanding. Rate.
Bonds.
Whom.
Value.
For explanations see notes on first page of tables.
•Worfolk, Va.—Coupon bonds................................ 1870-’74
1881
Coupon bonds o f 1881 (exempt)................ .
Trust and paving, coup...... .................... ........ 1872-’73
Coupon bonds..................................................
1871
Coupon bds., water (a mort. on water works)..
1877
Norwich,, Conn.—City bonds...............................
Water loan ($50,000 1890, $250,000,1898)... ’68, ’78, ’ 80
1875
Court H ouse........... ..........................................
1878
lin kin g fund bonds.............................................
1883
Funding 10-308...................................................
&alerson. jf. J.—School bonds.............................. 1859-’73
Funded debt bonds............................................ 1862-’ 71
Sewer b’ds ($145,000are M. AS. & $90,500 5s). 1869-’82
War bounty bonds............................................... 1864-’65
1877
Funding bonds, “ A” ..................................- .......
Renewal bonds," ‘B” and “ C” .......................... 1877-’84
Philadelphia—Consolidated city loan................
1855
Bonds for railroad stock subsidy subscript’^
do for water works...................................... 1855 t o ’71
1859
t o ’70
do for bridges...............................................
do for park and Centennial........................ 1868 to ’70
1862
to 65
•do for war and bounty purposes.......... .
do municipal, school, sewer, &o................ 1860 to ’70
Guaranteed debt, gas loans
1879
Four per cent loan (“ H” to ‘ Y” )
Peoria, Ills,—School loan......................................
War loan..............................................................
Water loan..................................... .....................
Peoria A Rock Island Railroad........................
1868 t o ’74
Pittsburg—Water extern loan (coup, or reg.)
1878
Water loan, reg..................................................
Funded debt and other municipal bonds........ 1845 to ’72
1863
Compromise railroad bonds (coup, and reg.)..
Funded debt improvement bonds, cp. A reg . 1882-’83
1885
Improv. bonds coup.or reg.( Act of May 9,’79).
Portland, Me.—Loan to Atl. A St. Lawrence RR. 1869-’70
Loan to Portland & Rochester Railroad........ 1867 t o ’6P
1872
do
do
do
........
1872
do Portland A Ogdensburg......................
1867-79
Municipal—proper............................................
1867
Building loan bonds...........................................
1863
Wrovidence, R.I.—Recruiting and bounty bonds
1872
Water loan bonds, gold, coupon.......... ..........
1874
do
do
registered.................
1876
do
do
do
................
1886
do
do
gold coupon..............
1875
City Hall A sewer loan b’ds, sterling, cp. or rep
1879
do
loan of 1879.........................
1879
»Public improvement loan, registered..............
1872
prov. A Springfield RR. bonds, guaranteed...
New High School Building certificates.......... , 877 A ’79
Richmond, Va.—Bonds, reg.,($118,000 are coup.
Bonds, reg. and coup. ($213,500 are coup.)...
New fives, 10-34 years, registered...................
Bonds................................................. ..............
1872
'Rochester, N. T.—To Genesee Valley Railroad .
To Rocn. A State L. and R. N. & P. Railroads IS72 to ’74
•For various city improvements....................... 1872 t o ’75
Water works loan, ooupon and registered... . . 873 to ’76
1875
Funding loan.,...................................................
1882
Consol loan.................. ........................ ...........
1885
Local improvement and funding loan............
Nockland, lie.—Municipal bonds.....................
1869
¿uturoac loan ($20,000 payable yearly).......
1871
do
............................. .......................
1872
do
.....................................................
Notes and certificates of deposits..................
4St Lout«—Renewal and floating debt bonds... 867 to ’71
¿teal estate, buildings and general purposes. ,840 t o ’66
1868
Tower Grove Park bonds (gold).......................
Various
Bower bonds ($336,000 are gold bonds).......
866 to ’68
Harbor and wharf bonds.................................
New water work bonds (gold).......................... 1867 to ’7C
1872
do
do
do ..........................
1874
Refunumg water pipe, special tax, gold........ .
1874-75
Floating debt bonds (gold sterling)................
1873-79
Renewal purposes, gold or sterling................
1875
Real estate, Ac., bonds, gold, $ and £ ...........
1880
Renewal bds.,gold,$ and £(part red’mable ’90
Renewal bonds, gold......................................... 1882 to ’85
1872
Bridge approach bonds (gold)........................
1885
St. Louis County bonds assumed1867
insane Asylum..............................

1,000
1,000
1,000
1,000
1,000
500
1,000

$833,593
350,000
290,800
310,000
640,000
160,000
300,000
164,000
50,000
125.000
58,000
80.000
403,500
306,500
100,000
210.000
2,217,220
564,500
6,401,800
3,836,000
8,403,200
11,706,500
16,241,100
3,500,500
6,498,800
78,500
42,000
450,000
100,000
4,282,500
300,000
1,281,000
2,176,300
1,480,000
3,747,000
541,000
627,500
416,000
1,200,000
851,000
304,000
300,000
2,028,000
1,972,000
1,500,000
483,000
1,397.250
600,000
596,000
500,000
45,438
2,638,858
1,179,700
1,178,000
276,000
132,000
750,000
585,000
3,182,000
410,000
100,000
300,000
615,150
53,300
59,500
54,100
105,852
931,000
645,000
340,000
1,108,000
359,000
3.758,000
1.250,000
800.000
955,000
3,086,000
150,000
1,024,000
913,000
461,000
965,000

1,000

100,000

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

100 Ac.
25 Ac.
500 Ac.
100 Ac.
100 Ac
100 Ac.
1,000
500 Ac.
500 Ac.
1,000
500 Ac.
1,000
1000Ac.
1000Ac.
L000Ac.
LOOOAc.
1,000
£100
1000AC.
Large.
1,000
Various

1,000
LOOOAc.
Various
LOOOAc.
1,000
5.000
5,b00
5u AC.
100 Ac.
100 Ao.
100 Ao.
arious
various
1,000
1,000
Various
1,000
1,000

1894 to 1900
Norfolk and Baltimore,
6
1911,1914
do
do
5
Apr..
’92, July,’93
do
do
8
1913, 1914. 1916
5
New
York
and
Norfolk.
1901,1914
A 1915
5A8
April l. 1907
Norwich,
A. A O
5
1898,1908
A 1910
do
5, 6 A 7
Jan. 1,1905
A J.
do
7
April
1,1908
do
AO.
5
1913
4
1887-1904
AD
City Hall, by Treasurer,
7
1887 to 1900
A D.
do
do
7
1887-1902
5 ,6 ,7
do
do
1887 to 1900
do
do
7
June, 1887
J. A D
6
do
do
1901-1906
do
do
4^2 A 6 Various
1887
to 1906
A
Philadelphia, by Treasurer
6
J. A
6
do
do
1887 to 1903
J. &
do
do
6
J. A
6
do
do
J. A
do
do
6
1887 to 1905
J. A
do
do
6
J. A
do
do
6
1899 to 1905
J. &
6
do
do
1887 to 1904
4
do
do
Various N. Y., Mercantile Nat. Bk.
1887 to 1898
7
Mar. 1.1902A’03
4 ^ M. & N
do
do
1888-’89-1901
5, 6 g., 7 Various
do
do
July 1, 1888
New York.
J. & J
7
1893 to ’98
A. & O Phila., Townsend, W. & Co.
7
1908
J. & J
do
do
6
1886 to 1912
6 A 7 Various Pittsburg and New York.
1913
4 A 5 J. A J. New York, B’k of America.
1912-1913
Pittsb’rg and Philadelphia.
5
Deo. 1,1915
J. A "d .
PittsDurg, Treasurer.
4
Vi. A N, Bos., Maverick N.Bk.orPtld Nov., 1887,’88
6
July, 1887
J. & J.
do
do
6
July 1, 1897
J. A J.
do
do
6
Sept. 1,1907
M. & S.
do
do
6
1887 to 1897
m’nthly
Boston and Portland,
6
June 1,1887
J. & D.
do
6
Jan., 1893
Providence.
J. & J.
5
July, 1900
5 A 6 g. J. A J. Boston, Prov. and London.
July, 1900
5 A 6 g. J. A J. N. Y., N. City Bank, A Prov.
July 1,1906
do
do
5 g. J. & J.
Sept.
1,1916
M.
A
8.
N.
Y.,
Boat,
or
London.
3*2 g
July 1,1895
5 g. J. & J. London, Morton, Rose A Co
4*2 J. & D.
June 1,1899
Providence,
July 1 ,’99 A 1900
J. A J.
do
5
1892
J. A J.
do
7
4V, Various Boston and Providence.
1887-9
J.A J., 1887-1914
J. A J.
Richmond, Treasurer,
6
1904-1911
J. & J.
do
do
8
July, 1914-’20
J. & J.
do
do
5
1920
4
1887 to 1903
j. ’ a ' j . N. Y., Union Trust Co.
7
Feb. 1,1893
P. A A. New York and Rochester,
7
1887 to 1902
do
do
Various
7
Jan. 1,1903
J. & J.
N. Y., Union Trust Co.
7
Jan. 1,1905
do
J. A J.
7
Aug. 1.1912
F. A A.
4
do
1890, redeem.’87
J. A J.
do
4
1887 to 1911
City Treasury,
4 A 5 Semi-an
1887 to 1899
do
J. A J.
6
1891
do
F A A.
6
1902
do
M. A 8.
6
On call.
do
3-65
1887 t o ’91
Various N. Y., Nat. Bank Republic
6
1887 to 1906
do
do
Various
6
Aug., 1897
do
do
6 g. F. A A.
1887 t o ’95
do
do
6 A 6 g. Various
1887-88
Various
do
do
6
6 g. J. A D New York and St. Louis. June, 1887, A 90
April
1,1892
A.
A
O.
N. Y., Nat. B’k Commerce,
6 g.
July l , 1894
do
do
6 g. M. A N
1894
and
1895
New York or London,
6 g. M. A N
1893 to 1899
do
do
6 g. Various
1895
do
do
6 g. M. A N
Jan. A June, 1900
do
do
5 g- Various
1902 to 1905
do
do
4 g. Various
6 g- J. A D N. Y., Nat. B’k Commerce. Deo. 10,1892
June
1,1905
New York and London.
J. A D
4
7

J. A J N. Y., Nat. Bk. Commeroe.

July 1,1887

.

Toe Legislature passed a law in 1885 that the indebtedness should Assessed valuations of property for 1887 are: Full city property
<aot exceed 10 per oent of the assessed value of real estate, and this 10 $569,587,035; suburban property, $40,208,885; farm property. $18,Population, 1870, 674,022, against 847,*
.per cent was construed by the Court of Common Pleas (General Term) 888,392. Tax rate, $18 50.
"to include the bonds in the sinking fund as a part of thedebt. See V.41, 170 in 1880.
P
eoria,
111.—Total
debt,
$670,500 Deo. 31, 1886. Population,
JD. «88. (V. 39, p. 49, 727; V. 41, p. 5 1,69, 242. 688; V. 42, p. 575, 753;
29,259 in 1880; 22,849 in 1870; in 1886 (estimated), 45,000.
V. 43, p. 41; V. 44, p. 204.)
N o r f o lk , V a .—The assessed valuations and tax rate per $1,000 are:
Pittsburg*.—'The assessed valuation in 1884 was: Real property;
Years.
Real Estate.
Personalty. Tax Rate. $105,404,720; personal, only $1,838,258; tax rate, 1884, 16 mills per
................................... $9,590,431
$1,363,403
$20 $1. Valuation of real estate in 1885, $108,530,608; personal, $3,000,1882
1883 ........................................... 9,776,197
1,722,492
20 000; tax rate, 13 mills. Total valuation in 1886 about $130.000,000;
1 8 84
................................... 10,086,898
1,494,483
20 tax rate 14 mills. Population, 156,389 in 1880; 86.076 in 1870, and in
'«.8 8 6 .............................................12,307.131
1,893,550
18 May, 1884 ("estimated), 180,000. (V. 42, p. 23.)
1 8 8 «........................................... 11,963,450
1,739,630
18
Portland* M e .—The sinking fund and available assets March 31,
—Population by U. S. Census in 1870, 19,229 ; in 1880, 21,966.
1887, were $147,627, not including $1,350,000 P. A Og. RR. bonds.
N o r w i c h . C o n n .—The assessed valuations, tax rate, Ao., are:
The city is protected bv mortgages on Atlantic A St. Lawrence Railroad.
Real
Personal
Rate of Population in 1880, 33,810; 1870, 31,413; 1887 (est.), 40,000. The as­
Y ean.
Estate.
Property.
Tax. sessed valuations, tax rate, Ac., have been :
1880
...................... $7,438,097
$2,976,028
8mills.
Real
Personal Rate of Tax Total
Sinking
1881
.......................... 7,382,834
2,872,566
10 “
Years.
Estate.
Propertv. per $1,000.
Debt. Funds, Ac.*
1 8 8 2 ......................
7,362,364 2,762,931
10 “
1882-83
..
$20,288,300
$12,354,455
$2150
$4,545,500
$51,869
1883.................................. 7,392,767
2,658,058
«
9 “
12,598,720 20 00
4,371,000
133,846
—Sinking fund, May, 1886, $57,581; population, 21,145 in 1880; 16,- 1883- 8 4 ..■ 20,431,300
12,014,435
20
50
4,286,000
106,408
18848
5
..
20,794,300
653 in 1870.
11,759,525
21 0 0
4,285,500
162,986
86 . 21,208,000
JPnterson, N . J .—Finances are apparently in a sound condition 188511,862,200
21
00
3,942,500
147,626
188687..
21,571,000
T h e assessed valuations, tax rate per $1,000, Ao., have been:
* These do not include the sinking funds for railroad loans.
Years.
Real Estate.
Personalty. Tax Rate.
Debt.
Providence, R , I . —The principal debt of Providence has been cre­
1883
$18,506.048
$3,856,635
2-28
$1,217,500
1884
........... 18,521,342
3,876,075
250
1,168,500 ated since ’72 for water works, sewerage, the City Hall and Brook Street
1885 ..................... 19,205,501
3,816,500
2-50
1,168,500 Improvement. The sinking fund for bonds due in 1893 is $333,367;
« 8 8 6 ................... 19,549.111
3,891,115
___
1,165,000 1895-99, $719,564; 1899-1900, $141,178; 1900-06-16, water loan, $452,275. Population, 1870, 68,904; 1885, 118,070. The laws of Rhode
— Population, 51,031 in 1880; 33,579 in 1870.
P h i l a d e l p h i a .—Jan. 1, ’87, the funded debt was $59,369,620. In the Island now limit the debts of towns to 3 ner cent of their assessed
valuation.
fo'J ow 'nc table the assessed value of real estate is near its cash value:
Assessed valuations, Ac., have been:
Years.
Real Estate.
Personalty. Tax Rate
Real
Personal
Tax per
Total Assets in Sink*
l 8 e ........................................... $562,687,555
$3,795,700
$18 50
Estate.
Property.
$1,000.
Debt.
Funds, Ao
................................ 573,728,105
9,884,578
18 50 Years.
.. $88,012,100$27,908,900 $13 50 $10,202,688 $1,359,142
18 8 „ .....................
587,749,823
10,035,600
18 50 1880..
.. 87,788,000 28,413,800
14 00 10,100,599
1,397,558
- 8 8 « ........................
601,001,97110,307,644
18 50 1881..
.. 88,987,900 30,208,300
14 50 10,077,099 1,597.280
^ 8 7 ........................................ 618 059.987
10,619,325
18 50 1882..




CITY SECURITIES.

M a y , 1887.1

13

Subscriber* w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Por explanations see notes on first page oí tables.
St. Louis, Wo.—(Continued)—
8t. Louis County bonds—County Jall.............
General purposes, gold..................................
Park bonds, coupon, gold.............................
Gen. A ren’albds. (all g. but $100,000 7s) .
81. Joseph. -Wo.—Funding bonds.........................
Funding bonds................... ...................
81. Paul, Minn.—Bonds.......................................
Bonds............. ........................................ -........do ........................................................- ........
do .................................................................
do .................................................................
City Hall, Park and Fire Department...........
Waterworks coups, (acts Feb.,’81 & Jan., ’83)
S.tlem, Mass.—City debt......................................
Water loan.........................................................
do
8tn francisco— Bonds oí 1858, ooupon (gold).
Central Pacific Railroad, coupon (gola).......
do
do
Western Pacific Railroad,
do
do
Judgment bonds,
School bonds................................. - ....................
School bonds.............. ................................ .
Park improvement bonds................................
Hospital bonds...................................................
House of Correction bonds................................
City Hall construction......................................
Montgomery Are (special tax).........................
Dupont St. (special) (Act Marob 4,1876).......
Savannah, 0a.—New compromise bonds...........
Somerville, Mass.—City debt................................
Water loan..........................................................
Springfield, Mass.—City notes.............................
City bonds........................................................ .
Water loan ($200,000 are 6 per cents)...........
Railroad loan......................................................
Toledo, 0.—General fund city bonds, coup........
Toledo & Wood ville Railroad, ooupon..............
Waterworks ($3,000 only 6s)..........................
Short bonds, ohargeable on special assessm'ts.
Bonds, payable after 1893........................ '.....
Worcester, M.—City, ($521,500 o., $1,521,900 r.)
Water debt, reg........

Date oí
Bonds.

Size or Amount
par outstanding.
Value.

1868
$ 1,000
1872
1.000
1875
1,000
1869 t o ’76 1,000
1883
1882-85
1867 to ’85
1868 t o ’81
1862 t o ’79
1860 t o ’79
1886
1882-4-5
Various.
1868-9
1878
1858
1864
1865
1867
1870
1874
1872 to ’75
1871 to ’73
1874
1875 to ’76
1873-74
1876
1879

1,000

1.000
500&O.
Various
Various
1,000

l.OOOAo
100 <&c.
100 Ac.
1,000

500 Ao.
500 Ac.
500 Ac.
500 Ao.
500 Ao.
500 Ao.
500 Ao.
500 Ao.
500 Ao.
500 Ao.
100 Ao.
Various.
Large.
Large.
1,000
1,000

1,000

Various.
1870
73/74A79
Various.
1883
1861 to ’83 500 Ao.
1870 to ’86 500 Ao.
1870 t o ’85 500 Ac.

Rate.

$500,000
7
600,000
6 g.
1.900.000 „ 6 g.
2.225.000 7 A 6 g.
880,900
4
902.000
6
71.000
4
906,002
5
433.000
6
399,551
7
307,315
8
175.000
4*2
1.500.000 4 A 5
561.500 4, 5 A 6
375.000
6
398.500
5
99.000
««■
174.000
7 g.
100.000
7S.
246.000
I g285.000
I6 g«•
200.000
475.000
6 g.
210.000
6 g.
150.000
7 g.
407.500
6 g.
1.579.000
919.000
" ! 'g .
3,397,500
1.170.000 4,5,5%,6
335.000 4, 5, 5*2
4i*
48.000
63.000
6
1.200.000 6 A 7
140.000
7
1,236,151 4% to 8
432.000
7-3
1 ,000,000
6A 8
150.000 7 A 8
360.000
5
2,043,400 4, 5 A 6
785.000 4, 4%, 5
678,200 3*2,4,5,(

When
Pay’ble

INTEREST.
Where Payable, and by
Whom.

Principal—Win n
Due.

M. A S. N. Y., Nat. B’k Commerce
Sept. 1,1888
J. A D.
do
do
June, 1892
A. A O.
do
do
April 1,1905
Various
do
do
1889-1896
N. Y., Amer. Exoh. Nat. Bk
Aug. 1,1901
F. A A. N. Y., Nat. Bk. Commerce
1903
Various N. Y. Am. Exoh’ge Nat. Bk
1907 to 1913
Various
do
do
1887 to 1915
Various
do
do
1888 to 1906
Various
do
do
1887 t o 1903
Various
do
do
1893 to 1904
do
do
1916
Various
do
do
1912 t o 1915
Various
City Treasury.
1887 to 1895
A. A O.
do
do
Api. 1,1887-1898
J. A J.
do
do
July 1,1904
J. A J. San F. A N.Y„ Laidlaw A Co.
Jan. 1, 1888
J. A J.
do
do
July 1, 1894
M. A N .
do
• do
May 1. 1895
A. A O.
do
do
Oct. 1, 1887
J. A D .
do
do
J un el, 1890
J A J.
de
do
July 1. 1894
J. A J.
do
do
1897 A 1904
M. A N.
do
do
Nov. 1, 1891
J. A J.
do
do
July 1,1894
do
do
1899
J. A J.
Q—F.
Various
Various
Various
Various
A. A O.
A. A O.
Various
M. A N.
Various
Various
A.. A O.
Various
Various
Various

San.F.A N.Y.,LaldlawA Co.
1896
N. Y., Eugene Kelly A Co.
Feb. 1, 1909
Boston, Nat. Security Bank
1887 to 1896
do
do
1887 to 1906
Salem.
1887 to 1889
Boston, First National B’k.
1887-1890
do
do
Api. 1 ,’94, to 1905
do
do
1887 to 1893
N. Y., Imp. A Trad. N. Bk.
1887 to 1913
do
do
May, 1900
do
do
1893 to 1899
do
do
1887 to 1888
do
do
Oct., 1913
C.Treas.ABost. Mchts.’ Bk.
1887 to 1905
do
do
1899 to 1905
do
do
1887 to 1915

Real
Personal
Tax per
Total Assetsin Sink.
M a s s .—Tn addition to the debt as above given there were
Estate.
Property.
Years.
$1,000.
Debt.
Funds, Ao.
188ti, $96,936 trust funds, payable on demand The sinking
1883... . $90,143,400 $31,722,000 $14 50 $9,941.188 $1.681,400 funds Feb., 1887, were $431,470, mostly consisting of City of Salem
1884... . 91.642,100
30,854,400
14 50
9,890,638
1,843,785 V« ao8®6*(i o o ' 27,563 in 1880; 24,117 in 1870. Tax valuation,
31,314,600
1885... . 92,887.400
14 50
9,568,188
1,438,328 1882, $25,528,242; tax rate, $15 50. In 1888 valuation, $25,614,115;
32,281,500
1388... . 97.975,900
14 00
9,685,317
1,701,985 tax rate, $i6 . In 1884 valuation, $25,360,772; rate of tax, $17 50. In
9®iate valuation, $12,831,300; personal, Ac., $12,234,830
Richmond» V a.—In 1886, real estate valuation, $33,517,807 ; 2 M ?
v a l I ’™ 6,I30; tax rate, $16 50. In 1886 valuation of real estate’
personal, $14,575,848: tax rate, $1 40. In 1885, real estate, $32,347,803; personal, $13,751,666; tax rate, $1 40. Population, 63.600 in 1880; $13,283,500; personal, $12,937,024; total, $26,220,523; tax rate, $15 50>
51,038 in 1870.
San F r a n c is c o .—Population. 233,959 in 1880; 149,473, in 1870. The
Rochester.—Total funded debt, $5,219,000 March, 1885. The bonds Montgomery
Avenue and Dupont Street bonds are special issues ohargeof Genesee Valley RR. loan, $148,000, are provided for by net receipts ame
only on the assessment of property benefltted, and suits were in
from a lease of said road to Erie Railway. Population, 89,366 in 1880- progress
October, ls84, to determine their legal status. Sinking funds
62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60
?a1le dKaiinuSk1L a?i,0/!mt t0 over $238,000, the amoum on hand June 30,
per ct. of true value), rate of tax, Ac., have been:
being $901,933. The assessments for four years and tax rate (per
Real
Personal
’To»
Tax ™
per $1,000
Total
$100) are given below. The following valuations are made by the city
Years.
Estate.
Property.
in old Wards.
Debt.
and
county,
the valuations by the State being different, but the tax rate
1 8 8 3 ..
.. $36,166,200 $1,817,200
27-65
$5,354,000 below includes
that for State purposes:
1 8 8 4 ..
.. 37,270,850
1,778,100
32 22
5.284.000
Total
1 8 8 5 ..
.. 38.563,020
2,389,050
30-93
5.399.000 i ooi do
Realty.
Personalty.
Tax Rate.
1 8 8 6 ..
.. 72,171,975
3,345.000 15-22
o,4oy uuu
5.459.000
$60.598.521
*881-82 ........................ $155,834,879
$1 801«
In 1886 real estate valuation was at 80 per cent. Population in 1887 18828 3 ............. 151,894,908
50,267,099
1 801«
about 125,000.
1883-8 4 ....................... 158,723,269
62,272,534
1 69%
R o ck la n d , M e.—Valuat’n o f real and personal estate, 1885, about 18848
5
.............
164,495,888
59,013,672
1 571«
___ _ ■$26
! _ per$1,000;
_ _ _ _ _ _1886
_ __________
$3.900.000; ta;xx rate,
valuations, $3,788,780; tax 1883-86....................... 171,416,426
56,192,922
1 59%
rate, $22 50 per $1,000. Population, 7,599 in 1881; 7,074 in 1870.
S a v a n n a h . G a ,—Default was made on Interest Nov. 1,1870, In oonae
St. Joseph, M o .—Population in 1880, 32.431; in 1870,19 565 A
compromise of the debt was made in new 4 per cent bonds, which 'are quenoe of yellow fever and non-collection of taxes. The compromise
c e b lbonds for the face of old bonds; and for Interest up
edvon for the full principal and interest of old bonds. Aug. 31 1885
leb . l, 1879, 58 per cent of the face value In similar bonds; also,
there were in addition to bonds given above $40,074 small issues and Jb
there are $386,500 of fives Issued In exchange for Atlantic A Gulf
•unpaid coupons.
, The assessed valuations and tax rate for three years were as below. k k . bonds. Assessed value of real estate and tax rate eaoh year
Ub™*=
1881, $10,500,000, $25; 1882, $10,050,000,
In l8 8 5 valuations were the same as in 1884, no new valuations being S|Ie
i? 3 oon8nnn
o*’00°B ?3°,; +-m 1884, $12,500,000, $30; in 1885.
Population in 1870, 28,235, against 30,70^
Real estate.
Personal.
Tax rate. in 188o’° 00’ $31 25‘
•02310
1 1 1 2 ;:;::::::;;;..;:;;;::;;;:; » ? : f ? ! $ S
•022,0
^ a s s .- T o t a l debt, Jan. 1, 1887, $1,525,000; sinking
$58 4,052. Property valuation in 1882. $23.162 200* in l i w t
-(V 5 43,-;:5d.-)...................... 7,873.150
3,700,222
•015510O
123-812.900; iu 1884/$24,331,100; in 188^’
S ills
Except $140 OOO
^7 the United States census in 1870 was $26,003,200. Tax rate In 1885 and 1880, $15 40.
310,864, against 350,518 in 1880. The city and countv were merged ni(S*a ^ lp 0 0 pieces aud $399,000 4s, all bonds are in $2,000 to $50^000
fSt.
t Louis
Louis Gaslight
o I T iX td Company
rlty a88um,ed
b o namounting
d T l claiminealldtn pieces. Population 24,933 In 1880; 14,685 in 1870.
for the
gas county
furnished,
S p r in g fie ld , M a s s .—Total funded debt, Jan., 1887. $ 1 4 51 0 0 0
tteStlL8!
® 1?The
^ * $548,000
$ 2 X 5 ? renewal
“
fl;bonds, due 1900. are redeem- cash
tnecity
m 1880.
assets, $149,734. The railroad debt falls due $20,000 each year
$913,000, due 1902-1905, are redeemable 1892-1895 have bee°n: ° 1885> 38’000: 1870’ 26’70a- Tax vaTuatlou aud 4atei
Assessed valuation of property and tax rate have been:
Real Estate /—Rate of tax per $1,000.—
Personal
Tax rate
Years.
and Personal
New
Real Estate.
Old
property.
per $1,000.
Bonded 1881 .
J e “ “8„ PropertyLimits.
$23,795,920
Limits.
$8,935,850
12 50
Debt.
1882 .
1|81........................$167,336,600
$5 00
25,084,420
$17 50
9,198,258
$22,417,000 1883 ..
12 50
1882
............. 191,720.500
5 00
25.676.800
17 50
9.260,459
,
12
50
22.311.000
1884 ..
18 8 3
.............. 191,522,490
5 00
26,201,150
17 50
8,792,666
14 00
22.232.000 1885.
1884
............... 211,480,710
5 00
26.969.800
17 50
8,827,966
22.105.000
12
80
1886
18 8 5
............... 207,526,000
5 00
27,038,760
17 50
9,143,442
22.016.000
12 80
1886
............... 214,427,690
5 00
17 50
22,942,000 —Valuation of real estate Is about 67 per cent of true yalue.
—(V. 40, p. 764; Y. 44, p. 586.)
,
M in n .—Population in 1870 was 22 300- in 1asn ai joq . naT?hu.d ^ - ir°tB11debt’ Jan-’ l 887’ was $3,188,484, Of this the debt
— ----- ----—Vf.
±a A
rial eiLtey iHP8 i i *9ia v l l 8^ en t8 Wa8
Taxable valuation of
oi taxable property and tax rate bave been :
aln
$21J73l £
Per«onal- $3,157,060; total valuation,
luu
tax rate, $2-80 per $100. Valuation, 1886, real estate,
—_
_
Personal Rate of Tax
Total
£ears.
Real Estate.
Property. per $1,000.
’an0 i> peri8°.aa1’ I d’H S ’ 620’ fetal valuation, $30,293,390; tax
Debt.
rate, $2 80. Population, 50,137 in 1880; 31,584 in 1870.
18^8........................$17,300,486
$5,491,026 $13 «
$1,356,444
5,942,503
15 “
1,519,810
f 882 ........................ 30,000,000 10, 000,000
—Total funded debt, Jan. 1,1887. $3 506 700
21 “
1,959,910 n ^ , o r c e *t ? r *
1883........................ 31,000,000 12, 000,000
W
including $860,846 iu sinking ’fund *
24-50“
2,328,040 Population8 68 383 i l l ' M
¿884........................ 47,000,000 14,263,565
1S898,1 ^ ^ 8I,5^ 58’*291 in *880,41,105 in 1870. Tax valu­
16
3,027,140 atiEnin
8 8 5 - . . . .................. 50,512,212 14,291,946
ation in 1882, $45,504,512; tax rate, 1-74. In 1883. $48.570-33519 50
3,815,640
i 1 Valuation of real estate Is about one-half of true value
$^0,773,475; tax rate, 1-00.- In 1885, $52,714,b'üTiCE**
910, tax rate, 1-80, In 1883, $51,560,389; tax rate, $1 80.




14

INVESTORS’

SUPPLEMENT.

[VOL. XL1V,

Subscriber» w ill confer a great favor by givin g im m ediate notice of any error discovered in these Tables.
INT EREST
pal, When Due
_______________ DESCRIPTION.________________ Miles Date Size, or
Amount Rate per When
Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
on first page of tables.
Road. Bonds Value.
April
1, 1907
London.
A. A O.
6
£100 $7,500,000
AUt> N. 0. TexasA Pacific June.—1st debentures .. . 233 1882
June 1,1907
do
J. A D.
6
2,500,000
£100
1*84
2d debentures..................................... -.....................
Jan.
1. 1908
Miners’
L.
1,714,000
6 g. J. A J.
290 1878 $1,000
Ala. Ot. Boulh’n.—1st mortgage, coupon...................
Aug. 15,1906
London.
134,000
£100
6 g. F. A A.
1886
Debentures, g o ld ........ -■*...........................................
Jan.
1,
1887
3,500,000
3*s J. A J.
$100
Albany A Susquehanna—Stock.................................. 209
July, 1888
J. A J.
7
998,000
1,000
142 1863
1895-’97
do
do
M. A N.
6
1,000,000
1,000
Albany City loan (sinking fund, 1 per ct. yearly). 142 1865
April 1. 1906
do
do
8,488,000 6 g A 7 A. A O.
1,000
Consol, mort. (guar. D. AH . endorsed on bonds).. 142 1876
2,166,500
50
259
A llegheny Valley—Stock...............................................
March
1,1896
C
T
.
1>|
n
lUOiu
t
t
,
w
VW
'
J.
Ä
J.
7-30
4,000,000
1,000
General mortgage (Riv. D iv.).............
. . . . 132 1866
Jan’ary Harrisburg, Treasury. 100,000 y’rly.
5
2,3(>0,000
Bonds to State Pa. (endorsed) 2d mort.. East ext. 110 1870 100,000
April
1,1910
Philadelphia
or
London
A.
A
O.
10,000,000
7
1,000
1st mort., East’n Extern, guar, by Pa. RR ............ 110 1871
A. A O. Pittsburg, Co.’s Office. Oct. 1. 1894
7
9,723,100
259 1874 100 Ac.
,-- r~T--D income
..... .................PM
_______j
Funding
bonds, with
traffic guarantee....
gu
J. A J. N. Y., Cent. Pacific RR Jan. 1, 1907
675,000
6
1,000
27 1877
Amador Branch—1st mortgage..................................
....
500.000
Asheville A Spartanburg—1st mortgage...................
F. A A. Phil., Fid. I.T. A S.D.Co Aug. 1,1908
6
1,500,000
1,000
62 1878
Ashtabula A Pittsburg- 1st mortgage, coup, or reg..
May 1,1905
6
4,070,000
1,000
Q - F - N.Y.,Un. Pao.RR.Offlce May
Atchison Ool. A Pacific—1st mort., g u a r ............ 254 1879
1,1905
Q .-F . N.Y.,Un.Pac. RR office
6
542,000
1,000
34 1879
Atchison Jewell Oo. A West.—1st M.., guar. C.B.U. P.
May
16, 1387
Boston. V. Y. A Chic.
Q -F .
100 64,893,250
1*3
Atchison Topeka A Santa Fe—S tock .......................... 2,526
July
1,1899
Boston,
North
Nat.
Bk
J.
A
J.
7
g.
7,041,000
1st mortgage, gold, ($15,000 p. m .)..................... 470 1869 500 Ac.
Oct. 1,1900
do
do
2,426,500
1870 500 Ac.
7 g. A. A 0.
Land grant mortgage, gold. ($7,500 p. m.) ...........
April
1,
1903
do
do
A.
A
0.
108.500
7 g.
1873 500 Ac.
Consol, bonds, gold, ($7,500 p. m.) ........................
A. A O. Boston, Bo8tonNat.B’k April 1,1909
5
1,007,000
1,000
1880
Bonds, (secured by mort. bonds) $1,185,000......
Sept.
1,
1920
do
do
M.
A
S.
5
1,000
3,519,000
1380
S. F. bonds for purchase of K. C. L. & 8. K. stock.
4,687,000
1,000
4*3 A. A 0. Bosk Safe Dep. A Tr. Co Oct. 1. 1920
1880
Sinking fund bonds (secured by mort. bds.). . . . . . .
Deo.
1,
1911
Boston,
Co.’s
Office.
J.
A
D.
6
12,142,000
1.000
1881
Sink, fund bds. (secured by deposit of mort. bds.)
1937
6,500,000
5 g.
1887 100 Ac.
Collateral trust bonds., gold (V. 44, p. 245)..........
July
1,
1902
Boston,
North
Nat.
Bk.
J.
Ä
J.
412,000
1,000
7 g.
27 1872
Wichita A Southwest., 1st M.,gold 1
854,000
1,000
7 g. J. A J. Boston, Everett N. Bk. July 1, 1905
66 1875
Kans. City Top. & W. 1st M., gold I
Mar. 1, 1906
do
do
200.000
7 g. M. A S.
1875
do
do
Income b d s . VAnt„i
1,633,000
1,000
7 g. J. A J. Bost., N. Bk. of N. Am’a July 1, 1905
282 1875
Pueblo & Ark. Valley. 1st M.,gold ^Gnar.rental
July
1, 1905
do
do
J.
A
J.
1,942,000
1,000
7 g.
282 1878
Pueb. A A. V., 1st (A 2d onl48 m.
532,000
7 g. J. A J. Boston, North Nat. Bk. July 1, 1909
1.000
64 1879
Kan. City Emporia A S..lst mort.
Atchison Colorado Ac Pacific.—Watervllle, Kau., to Washington,
A lab am a N, O. T exas & Pacific J u n ction (L im ited ).—(See
20 miles; G-reenleaf, Kan., to Logan« Kan., 155 miles; Logan to
Map Oinn. N.O AT. P.)— This is an English Co. o c t r o i ling the Vicksburg Ran.,
A Meridian, 142 miles; Vicksburg Shreveport A Pacific, 189 miles; N.O. Lenora, Kan., 25 miles; Downs, Kan., to Ball City, Kan., 24 mile a; Yuma,
Kan.,
to
Warwick, 31 miles; total. 254 miles. The road forms an exten­
A North Eastern, 195 miles; and Spanish Fort R’y. near New Orleans, 13
of the Union Paoitto Central Branoh, by which the bonds are guaran­
miles. It also controls the Cincinnati New Orleans A Texas Pacific sion
teed
and
road is controlled, and the whole system is virtually owned
Railway Co. (lessee of the Cincinnati Southern Railway). The manage­ by Unionthe
Paoitto. but operated by Mo. Pao. Stook. $1,522,400, of which
ment of the company is the same as that of the Alabama Great
U.
P.
and
C.
P.
own $020,300. Rental is $254,370 per annum.
Southern RR. Length of roads, 862 miles; add Ala. Gt. Southern RR., 295
Atchison J ew ell Co. Ac W e s t.—Jamestown, Kan., to Burr Oak,
miles; entire system. 1,157 miles. The preferred or “ A” shares are Kan.,
34
miles.
Under same auspices and control as Atchison Colorad o
«1.500.000, having a preference for 6 per cent dividends and cumu­
lative, and the deferred or “ B” shares £2,500,000; par value of all A Pacific. Stook, $202,800, of which Union Paoifio owns $105,000. Ren­
shares £10 each. The first debentures are redeemable any time at 115, tal is $34,000 ner annum.
A tch ison T opek a Ac Santa P e . —(See Map.)—L in e of RoAp.—
on six .months’ notice. The company holds the following s e c u r itie s ,z"
Oin N O. A Texas Pao. $1,532,000 stock; Vioksburg A Meridian, A complete detailed statem-nt of tie 1 nes ot roa l op -rated on Deo.
3
1
,18S6, was given in. tlio C h ro nicle , V. 41, p 5
T ie totals o* tu.6
$245,000 1st mortgage, $105,000 2d mortgage, $416,500 3d mortgage,
81,464,300 preferred stock and $363,000 common stock; of Vicksb. different systems are as follows: Atchison, 1.8*5 50 miles; Southern
Kansas,
630-30
miles—total,
both
systems,
2,526
mites;
Chicago Kan­
Shrevep. A Pao. $3,692,000 1st mort., $1,931,000 incomes and $1,594,000 stock; of N. O. A North Eastern $4,900,000 1st mort. and $4,320,- sas A Western, 401-23 miles; Sonora, 350-19 miles; roads owned jointly
with
other
companies
(one-half
of
192-08
miles),
96-04
miles: total,
000 stock; N. O. Spanish Fort A L. RR. $300,000 1st mort. and $200,000
common stock. To obtain funds for further improvements it was 3,373-26 miles. The results on all these systems (except the Chicago
Kansas
A
Western,
under
construction
in
1885)
are
included
in the
voted in Oct., 1885, that 6 per cent prior lien bonds ahead of the first
mortgages should be issued on the N. O. A Northeastern, Vicksburg A Atohlson Topeka A Santa Fe report. In addition to .the above, the
Meridian and the Vicksb. Shreveport A Pao. roads at $7,000 per mile, Atchison Company owns exclusively the Gulf Color tdo A Santa Fe RR ,
amounting to $2,695,000 In all. It was voted to issue £200,000 of Al. 847-30 miles, an 1 Is part owner of the California Southern RR., 210-61
N. O, T. A P. J. 2d debenture bonds of same lien as the others. (V. *3, miles, and the Atlantic A Paoifio RR.. 917-75 miles. The op-radons of
these three roads are, however, kept entirely distinct from those of the
p. 21, 72 7.)
other systems and are not given In the Atchison’s reports. The mads
A lab am a Great Southern.—(See Map Oinn. N. 0. A ^ p .)—From may be summarized as follows: Ooerated directly (A.tob sou Topeka
Wauhatchie, Tenn., to Meridian, Miss.. 290 miles; leased, Wauhatchie Santa Fe aad Southern Kansas), 2,526 miles; operited indirectly, 847
to Chattanooga, 5 miles total operated, 295 miles. The Alabama A miles; owned and partly owned, but operated by separ ite companies,
Chattanooga RR. madedefault Jan. 1,1871, and road was sold under fore­ 1,975*66 miles: graiid total, 5,319 miles. The California Southern gives
closure Jan. 22,1877. Present company organized Nov. 30,1877, and is a through route to the Paoitto coast at San Diego, via the A-tiantlo
controlled by an English oompanvof the same title. The lands were Paoitto RR. The Gulf Colorado & Santa Fe road was bought in April,
conveyed In full settlement to the holders of the $2,000,000 of Alabama
State bonds. These lands (about 550,000 acres) are held by trustees. ^O rganization , L e a s e s , A c.—'The A. T. A S. Fe. Co. was Incorporated
(V. 30, p. 117.) The debentures are made exchangeable for any mort­ Maroh 3,1883, and inoludes the Atchison A Topeka RR” incorporated
gage bonds that may be created subsequent to the debentures. Capital Feb. 11,1859. The land grant was received by Aot of Kansas Feb. 9.
stook—common, $7,830,000, and preferred 6 per■ cent, $3,330,350. 1864. The main line of 471 miles was opened Deo. 23, 1672. The
Gross earnings in 1885. $1,076,188; net, $128,140. Gross in 1886, whole system outside of the main line is nominally urnier^different cor­
$1,215,195; net, $276,798. (V. 42, p. 727).
porations, of which the ownership is vested in the A. T. AS. F., and the
A lban y & Susquehanna.—Road owned from Albany, N. Y., to roads also leased to that Co., and Interest on the bonds usually paid as
Binghamton, N.Y., 142 miles; branohes operatedDuanesburg Junction, rental. The Southern Kansas and the Sonora systems are not leased,
n 7 y „ to Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valley. 21 but are controlled by ownership of the stook.
The fiscal year ends December 31.
.
_ „ ...
. __
miles; operates Lackawanna A Susquehanna RR., 22 miles; East GienIn Aug., 1884, an agreement was made for the oontrol of the Mojave
ville to Coons, 10 miles; total operated, 209 miles. Leased in perpetuity Division
of
the
Southern
Paoifio
anda
right
for
traffic
over
the
Southern
from Feb.. 1870, to Delaware A Hudson Canal Co.; rental, 7 per cent Pacific to San Franolsoo. In 1886 the Atlantic A P toitio lsc mortgage
on stook and interest on bonds. Additions and betterments charged to bondinterest was reduced to 4 per oent and the bonds guaranteed onelessors, and cost made part of investment. The consol, mort. is for $10,each, severally but not jointly, by the Atehiso i a n i Sa i Francisco
000,000, of which $3,000,000 are 7 per cents, currency; the principal of half
See Atl. A Pao. and St. L. A San Fran, in this S u pplem en t .
the 6s. is also payable in “ lawful money,’ but the interestin gold. Gross companies.
In April, 1886, the G. C. A 8. F. was purchased bv the Atchison Com­
earnings in 1885-66. $2,841,409; net, $1,202,770; surplus to lessee after pany
by
the
exchange
of G. O. A S. F. stook for Atchison stook, $3,000,all payments, $259,760. (V. 42, p. 549; V. 43, p. 580.)
UOOinall. See official oircular, V, 42, p. 630.
Stock and B onds—The stook has been inoreased rapidly to present
Allegheny V a lley.—Owns from Pittsburg, to Oil City, Pa., 132
miles; branches—Red Bank, Pa., to Driftwood, 110 miles; others, 17 figures for the acquisition of the auxiliary lines and by way of stock
miles; total operated, 259 miles. The company became embarrassed dividends. Dividends have been—in 1379, 3 per cent; in 1330, 8*3;.in
in 1874 and compromised with its creditors. It still falls short 188 i. 6 cash and 50 stock; in 1882 andiu subsequent years 6 per cent has
of earning interest liabilities. Of the Income bonds the Pennsylvania been regularly paid. The range in prices of stock in Boston was—m
RR., Northern Central and Philadelphia A Erie hold $6,087,000, the 1»81, 92015434; in 1882. 7878®9618 ; in 1883, 7 s ® 8 o ^ ; in 1884. d9*3
interest on which was paid altogether in bond scrip. Tfce ooupons of ^>60; in 1885, 63*4889*3; in 1886, 797s®100; in 1887, to May 20,
guaranteed bonds held by the Pennsylvania Railroad for advauoes
amount to $5,232,710. In 1886 the charges for mortgage interest and 9^u^ibonds as are held in the company’s treasury, or leased line bonds
car trust payments were $1,115,604, income bonds wit; deficit in net held as collateral for any of its own bonds given above, are not Inoludea
earnings, $432,384. In May, 1884, receivers were appointed at the in the above amounts outstanding. Tue land grant bonds reoeive tne
or oceeds of land sales in payment of interest and principal.
nstance of the Penn, and other railroads as plaintiffs.
The 4*a per oents of Oct., 1920, have the 6 p r cent mortgage bondsof
Annual report in V. 42. p. 603. Earnings for four years were as fol­
lows: In 1683, gross, $2,255,942; net, $886,772. In 1884, gross, $2,113,- the Rio Gr. Mex. A Pac. and the Rio Gr. A El Paso roads as security, the
_ .4.
Tr» 1
(vsnaa 451 7)3(1
TlAf.. 71 I34-! iilfrtrASt. sinking fund being 1*3 per cent per annum, rising to 3*3 by 1910.
The 6 per cent bonds due Deo. 1, 1911, have as security 1st or 2d mort.
bonds of a number of the proprietary or controlled railroa is, depositea
in trust as collateral; they are redeemable at 105 by the sinking funii,
546; V. 44, p. 21.)
which is 1 per oent per annum for 10 years and 2 per oent thereatier.
A m a d or B ran ch .—Galt, Cal., to lone, Cal., 27 miles. Leased till
The 5 per cent bonds, due April 1,1909, are secured by the N. Mex.
Noy. 1,1890, to Cent. Pacific; rental $3,500 per month. Stook, $675,000. Earnings in 1885, $31,243 gross and $12,705 net. Leland Stan­ &fnterest on\lfe°Soiiora RR. in Mex. (262 miles) 1st M. bon Is is guaran­
ford, President, San Francisco.
teed ; those bonds are at $20,000 per mile, of whioh $o,OOJ per mile are
A sh eville A: Spartanburg.—From Spartanburg, S. C., to Ashe­ owned bv the A. T. A S. F. Co.
» «a « .
Tiie Cal for nit Southern lsc mortg. bonds are guarantee l (by endorse­
ville, N. C., 71 miles. Formerly Spartanburg A Asheville; sold in fore­
closure April, 1881, and reorganized. Stock $1,050,000. In 1883 the ment on the bonds) as per the agreement of reorgmiza ion for tnac
mortgage for $5Q0,0O0 was made to buiid the 18 miles to Asheville ; in company made in 1885. Sinking fund of $25,000 per year retires these
1885 a new mortgage for $500,000 was authorized. Controlled by Rich­
mond A Danville. Gross earnings in 1881-5, $28,572; defloit, $4,611. b<Tffie Wichita A Western, Wichita to Collison, Kan., 100 miles, Is owned
ioimly with the St. Louis A San Fran., but bonds are noi guaranteed.
Gross earnings in 1883-4, $34,018; defloit, $3,036.
The Leav. Top. A So. RR. bonds at 4 per oent are guaranteed one-nan
A sh tab u la Ac P ittsb u rg.—Owns from Youngstown, O., to Ashta­
thfl
bula Harbor, O., 62-6 miles. Organized as Ashtabula Youngstown A bythe A .T.A S. Fe, and one-half by the Union Pacific.
The Chicago K tnsas A Western stook ($10,000 per mile) is held by tne
Pittsburg in 1870. Defaulted and property sold August 21, 1878.
A.
T.
A
S.
Fe,
and
the
first
mortgage
bonds,
at
$L4,000
per
mile,
ar
Existing company organized Sept. 25,1878, and it is leased by Penn.
Co., which pays net earnings to A. A P. The common stock is guaranteed by the latter company, and these, with the incomed>onas
$7,000
per
mile,
were
Issued
as
per
the
circulars
in
V.
43,
p.
59,
y
’
$958,591 and preferred $700,000; par of shares, $50. Gross earnings
in 1885, $338,950 ; net, $95,235 ; interest, $90,000. Gross earnings p. 245. The roads covered by these bonds are about 900 unles of orano
lines
in
Kansas
constructed
in
1886
and
1887.
In 1886, $396,689; net, $133,753; interest, $90,000. (V. 42, p. 462.)




.RAILROAD

STOCKS

AND

BONDS.

19

Enlarged Scale of
ATCH.TOP. Sl 8ANTA FE
K~R!s ut KANSAS

[Ma t , 1887]

'V

HITCH
ryKiagniaâ^lwi

binaria
t$*
magdalena
“JR Sta.Ana I
®SQnerobabi P
A Carbo
J
*1 ^
/

i f

2I

Hermosillo

l
i

^ATCHISON, TOPEKA
AND

MEDICINE LODGE
t
*tt
,®5
cT
IO
WA
STp..




SANTA FE R.R.'.
Santa Rosalia

A N D C O N N E C T IO K S .

16

INVESTORS’

SUPPLEMENT.

[V ol , XLTV.

Subscribers w ill confer a tre at favor by givin g Im m ediate notice of any error discovered in these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
pal,When Due.
DESCRIPTION.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
per
par
of
For explanation of column headings, &c., see notes of
Outstanding Rate
Dividend.
Whom.
Pay’ble
Cent.
Value.
Bonds
Road.
on first page of tables.
Atch. Top. <&S.Fe—(Continued.)—
Cow. 8um.& Ft. Smith, 1st m ort.......1 G’rantee )
Marion & McPherson, 1st m o r t...... > rental. )
Florence El Dor. & w., 1st M., gold.. )
t
Wichita & Western—1st mortgage coup . . . . . . . . . .
Leav.Top. & S. W.—1st m., »«guar .by At. ^ byUn.P.
N. Mexico & So. Pac.—1st M., gold, guar, rental..
Sonora, 1st, mort., gold, interest guaranteed ----California So., new M. gold, guar, by A.T.&S.F......
Income bonds................................
Chic. Kan. & West.. 1st, gold, guar, by A T & 8. F.
do
income bds. non-oum.($7,000 p. m.)
Chic. Santa Fe & Cal., 1st mort., gold, guar.........
Southern Kansas—K.C. Law. & So., 1st mortgage.
Southern Kansas & Western—1st mortgage.......
Sumner County RR.—1st mortgage....................
Ottawa & Burlington RR.—lstm ortg. . . . . . . . . .
S. Kan.(Gulf Divis.)—1st. g’ld.guar.by A. T.&S.F.
Income bonds (not cumulative) $4,000 per mile)
Southern Kansas in Texas, 1st mort., gold, guar..
Atlanta <£ Charlotte.—Stock (guar. 5 p. ct. by rental)
New pref. mort................................................- .......
Mortgage bonds................................ .......................
Incomebonds, registered (not cumulative)..........
Atlanta dt West Point—Stocx........... ..........................
Debenture certificates..............................................
Atlantic <6 Forth Carolina—1st mortgage................
Atlantic <CNorthwestern—1st mortg.. gold, guar—
Atlantic dt Pac.—A.& P. guar, trust bonds, gold — ..
Incomebds., non-cum’tive, W. D. ($18,750 p.m .).
1st RR. & land gr. bonds on Cent. & Mo. Divisions
1st land grant bonds on Central Div.. cumulative
Income bonds, Cent. Div.,non-oum. ($18,750 p. m.)
Arizona Mineral Belt—1st M.,gold ($20,000 p m,-

92
93
26
45
46
372
262
210
450
450
185
139
18
42
350
269
2651e
265*9
80
95
927
640
112
112
75

$798,000
1879 $1,000
713,000
1,000
1879
775,000
1,000
1877
761,000
1,000
1884
1,380.000
1,000
1882
4,425,000
1,000
1877
4.050,000
1.000
1880
2,106,000
1,000
1886
3,505,000
1,000
1886
1886 100 &c. 1.’ ,200,000
6,100,000
1886 100 &c.
1,000 15,000,000
1387
2,940,000
1879 500 &C.
1,659,000
1,000
1880
212,000
1,000
1880
500,000
1.000
1881
3,920,000
1886 100 &c.
1886 100 &c.
(l)
1886 100 &e.
(?)
1,700,000
100
500,000
1,000
1877
4,250.000
1,000
1877
750,000
500
1880
1,232,200
100
1,232,200
1881
196,000
500
1868
6,650,000
17,610,000
1,000
1887
50 &c. 12,000,000
1880
1,189,905
1871 500 &c.
796,629
1871 500 &c
2,100,000
1,000
1882
1,000
1886
(l)

The collateral trust bonds of 1887 are direct bonds of the Atchisoa,
company, agaiost which are deposited in trust the bonds of branch lines
constructed in California aud Colorado, not at any specified amount per
mile, but “ issued for the cash cost only of the roads, including equip­
__.
ment.” See circular in V. 44, p. 245.
The Chicago Santa Fe & California Railroad is the company in Illinois
and Iowa forming the connecting line from Kansas City to Chicago,
about 450 miles—Kausas City to Fort Madison, Ta., on Miss. River,
about 200 miles, then to Pekin, 111., about 160 miles, and then
over Chicago & St. Louis (purchased) 90 miles. Its bonds are guaran­
teed by the Atchison, and are a first lieu on all but 90 miles, on which
there is a prior mortg. of $1,500,000, for which bonds of this issue are
held to retire them at maturity See V. 44, p. 148.
The Southern Kansas Gulf Division ana the Southern Kansas in
Texas first mortgage bonds were issued as per circulars in v. 42,
t> 462, V. 43, p. 431. The bonds are guaranteed, principal ana
interest, by the Atohison Topeka & Santa Fe. The Gulf Division bonds
cover the road from Arkansas City south through Indian Territory
towards Denison, and also the branch from Kiowa on the Kansas
border southerly to Wolf Creek and the Texas border (in the Panhandle).
The Southern Kansas Railroad in Texas was organized to build that part
of the line in Texas, and on both lines the bonds are at $16,000 per mile,
guaranteed by Atchison. The inoome bonds issued by the So. Kansas
Gulf Division are at the rate of $4,000 per mile and not issued till these
two divisions are completed.
. ,
, , „ . , QQC
L and G ran t .—The lauds are practically sold out. Land sales in loco,
347,3221acres for $348,889, being an average of $2 44 per aore; assets
Deo. 31,1886, $1,343,817 contracts aud interest on contracts, and 1,391
acres yet unsold.
,,
, . ..
. . . _.. c_
Operatio n s , F inances , &o.—The connection with the Atlantic <s
Pacific took effect for business in October, 1883, and the through
line to San Francisco by use of the Southern Pacific lines Oct. l. i s s a .
In Nov., 1885, the Cal. Southern was completed, giving a through route
to the Pacific coast by the Atlantio & Pacific road.
___
For three months from Jan. 1, to Mch. 31,1887, gross earnings were
4,311,682, against $1,228,962 in 1886; net, $2,045,343, against
1 324 084
The report for 1886 was in the C h ronicle , V. 44, pp. 533 and 586.
Earnings and operations and inoome account were as follows, these
statistics embracing the Atohison Topeka & Santa Fe and Simthem
Kansas systems combined, but nothing of the Sonora, Atlantic & Pacific,
or roads owned jointly, although the interest on Sonora bonds is
deducted from Atchison earnings.
OPERATIONS AND FISCAL RESULTS.
1884.
1885.
1386.
Miles operated........................ .
2,374
2,397
2,526

t

Passengers carried one mile....135,412,096 149,999,427 176,810,489
Rate per passenger per mile—
2-648 ots. „ 2’o93 cts.
2 277 cts.
Freight (tons) carried one mile.634,711,316 607,753,550 687,399,093
per ton Der
per mile................
mile.
Rate Der
1‘882 ots.
l -789 cts.
ots$
Earnings—
*p_____
4,026,005
3,889,411
Passenger........................... - .......
11,100,967
10,873,621
Freight.........................................
857.33
808,363
Mail, express, &c........ ............
762,412
15,571,395
15,984,307
Total gross earnings........ 16,291,883
Operating expenses—
2,186,76
2,280,291
2,861,236
Maintenance of way, &o........ .
1,395,719
1,409,732
Maintenance of equipment.... 1,461,896
4,128,349
3,777,357
Transportation expenses............ 3,560,610
410,129
388,393
Miscellaneous.............................
670,856
492,95 ~
459.194
Taxes...............
421,378
8,613.911
8,314,967
Total operating expenses 8,975,976
7,370,396
7,256,428
Net earnings................................ 7,315,907
53-89
53-40
P. ot. of op. expenses to earns..
55-09
INCOME ACCOUNT.
1886
1885.
Receipts—
^ 1884.
$7,370,396
$7,256,428
Net earnings................................. $7,315,907
33,78"
28,012
Rentals, dividends, &o................
28,488
623,859
149,743
Other receipts*..... ......................
142,014
170,63
180,188
From land grant trusts..............
183,281
Total inoome.......................... $7,674,690 $7,614,371 $8,198,673
Disbursements—
$20,409
$25,500
Rentals paid.................................
$37,093
2,004,679
1,980,664
Int. onAt.T.&S. F.andSo. K. bds 1,812,544
829.499
854,930
Interest paid as rental..............
866,655
170,633
180,188
Interest on land bonds......... ....
188,281
283.500
283,500
Interest on Sonora bonds...............................
27.600
Int. onLeav. To. &So. W. bonds.
...........
3,738.478
3,414,786
Dividends..................................... 3,414,736
( 6)
(6)
Rate of dividend........................
(6
311,340
299,525
Sinking funds...............................
269,716
73,227
46,093
Paid to other roads.....................
241,677
25,000
Miscellaneous...................................................

7
7 g.
7 g.
6
4 g.
7 g.
7 g.
6
6
5 g.
6
5 «•
6
7
7
6
5 g.
6
5 g.
2»«
7
7
6
3
6
8
5 g.
4 g.
6
6
6
6
6 g.

A. & O. Boston, North Nat. Bk.
do
do
A. Â O.
A. & O. Boston. Nat. B.N.Amer.
Boston.
J. & J.
J . <& J . Boston, Am.L’n&Tr.Co.
A. & 0- Boston, Everett Nat.Bk.
J. & J. Boston, Nat. Revere Bk.
J. & J. Boston, Maverick N Bk.
M. & S.
J. & D. Boston, Office of Co.
May 1
J.
J.
A*
O. Boston, Nat. Union Bk
do
do
J. & J.
do
do
M. <& S.
do
do
A. & O.
do
do
M. & S.
do
do
do
do
M. & ¡3.
M. & S. N.Y. Central Trust Co.
do
do
A.
O.
do
do
j. & j .
do
do
A. & 0
J. & J Atlanta, Ga., at Treas’y
do
do
J. <& J
Company’s Office.
....
J. & J
A. & 0
M. & N
At Mat
J. & X)
J. & J

N. Y., U. 8. Trust Co.
Boston.
New York,
do
Boston.
do

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

A tlan ta Sc Charlotte A ir L in e.—Owns from Charlotte, N. C., to
Atlanta, Ga., 269 miles. The Richmond & Atlanta Air-Line was sold
under foreclosure Dec. 5,1876, and the existing corporation was formed
Feb 27 1877. On March 26, 1881, tne road was leased to the Rich­
mond & Dauville at a rental of $462,000 per year, equal to the interest
on debt and 5 per cent on stock ; if gross earnings of A. & C. A. L.
exceed $1,500,000, dividends to be 6 per cent ; and if they exceed
$2,500.000, 7 per cent. Gross earnings in 1882-83, $1,074,016; net,
$397,174; rental, $466,500; loss to Richmond & Danville, $69,325. In
1883-84. gross, $1,042,631; net, $338,731 ; loss to Richmond & Dan­
ville. $127,769.
.
m .
A tlan ta Sc W e st P o in t.—Owns from East Point, Ga., to West
Point, Ga.. 80 miles; leased, 6 ^ miles; total operated, 86*3 miles. In
April, 1881, a controlling interest in the stock was purchased for the
Central Georgia, and a stock dividend of 100 per oent was afterward
declared in debenture certificates. Gross cam ’s in 1884-85, $410,222; net,
$173,079; in 1885-86, gross, $397,259; nqt. $138.001.
A tlan tic Sc North C arolin a.—Owns from Morehead City to Golds­
boro, 95 miles, aud operates the Midland No. Car. Ry. from Goldsboro to
Smitlifield, 22 miles. Gross earnings in 1883-84, $146,324; net,
^Atlantic Sc N orth w estern .—Line in progress aoross the State of
Maine as connection of the Canadian Pacific. Bonds negotiated in
London May, 1387. The Dominion Government grants a subsidy
for 20 years at $186,000, and Canadian Pacific guarantees the balance
of £28,013 per year.
A tlan tic Sc Pacific.—This corporation was chartered by Act of Con­
gress July 27,1866. The Western division is from Isleta, near Albuqueraue, on At Top. & Santa Fe, to Big Colorado River, 560 miles, where it
meets the line to Moiave. Cal. (242 miles), leased by this Co. in 1884
from the Southern Pacific of Cal. The Cal. Southern gives a through
route to San Diego on the Pacific coast. Also the Central Division is
finished from Seneca, Mo., to Sapulpa in the Indian Ter., 112 miles,
aud operated by the St. Louis & San Francisco Railway Co.
'
iBy the “ tripartite” agreement of Jan. 31, 1880, the Atch. Topeka &
8. F. and the St. Louis & S. F. guaranteed 25 per cent of the gross earn­
ings over their lines to pay coupons, and large advances were made to
the A & P. by both those companies. In Oct., 1886, the plan was made
to exchange the A. & P. first mort. bonds for the new 50-year 4 per cent
bonds due in 1937, guaranteed severally (but not jointly) by the two
companies, each company guaranteeing one-half of each bond. (See
V. 43 p. 571, 559, 607.) Stook authorized is $100,000,000, and
issued’$64,810,300 (par $100), of which $51,302,600 is owned oy the At.
T. & S. F. and the St. Louis & S. F. companies equally, and deposited
in trust tor thirty years. The stock is classed thus : Western Div., com.
stock, $44,750,000; Cent, and Mo. divs., com stock, $3,665,300; pref.,
$11,395,01)0. The old pref. stook has no preference over the A. & P.
Western Division stock.
The Southern Pacific sold the 242 miles of road from Mojave to The
Needles, on the Colorado River, to the A. & P. Company for $7,271,100 payable in A. & P. 1st mortgage bonds, issued on said 242 miles,
to amount of $3,059.250 aud $1,211,850 in cash. Until clear title
to this piece of ro id is given, the A. & P. takes possession and pays
6 per cent per annum on the $7,271,000. The same negotiation gave
a right by contraot to run through trains to San Franoisco over the
Southern and Central Pacific lines on payment of rental either on a
mileage basis or at 3 per oent per annum on $40,000 per mile. See V. 39,
P The land grant claimed under the old A. & P. charter of July, ’ 66, is
25 600 acres per mile in Territories and 12,800 acres in States. On
thè West. Div. upards of 14,000,000 acres in New Mexico and Arizona
have been earned by construction, and in the Indian Territory 2,600,000
acres more, the best of these lands being well adapted for grazing. The
proceeds of sales of the company’s lauds have so far been applied to pay­
ment of interest on A. & P. bonds or the lands have been pledged ana
oonveved in trust to the Atohison and San Francisco companies, ana
nearly 6,000,000 acres have been so disposed of. See Chronicle, v.
40, p.' 49, Y. 44, p. 544. A map of the land grant was published in tne
Chronicle, V. 36, p. 468.
_ oqa
No annual report since 1884 has been published. (V. 42, p. 335»
393? 462, 487, 630; V. 43, p. 48, 2 1 6 , 458, 503, 571, 607; Y. 44, p. 21
22,148, 544.)
Atlantic Sc St. Law rence.—Owns from Portland, Me., to l8lan“ ’
Pond, Vt. (and branch), 151 miles, there connecting with Grand T ran s
of Canada, to which leased for 999 years, August 5,1853, at a rental
equal to bond interest and 6 per oent on stock. The bonds for fo jL
000 to city of Portland are provided for by accumulations of sinking
fund. The Grand Trunk RR. owns the 2d and 3d mortgage bonds, ana
lias issued its own debentures agaiust them. The stock of $5,484,uw
pavs dividends (M. & S.) 6 per cent per annum. Gross earnings w
1885-86, $1,002,884; net, $255,814. Gross in 1884-85, $973,363; net,

Total disbursements............. $6,830,707
Balance, surplus.... . . . . . . . . .. . $343,983
$501,185
$,39,317 ^*Au**usta Sc Savannah. —Owns from MiUen to Augusta, Ga., 53
* Inc’udes net land receipts Southern Kansas Railway Co,, sundry miles. Leased to Central of Georgia for $73,000 per annum ^Bas ne
bonded debt.
profits, and balance of general interest account.




Ma t ,

1837. j

kßAILROAD

STOCKS

AND

BONDS

17

S u b scrib er« w ill confer a treat favor by «Iv in s im m ediate notice o f aujr error discovered in these Tables.
I
Bonds—Prinot DESCRIPTION.
INTEREST
1Miles Date Size, or
pal.When Due.
Amount Rate per When
of
Par Outstanding
For explanation of column headings, «fee., see notes of
Stocks—Last
Road. Bornia Value.
Cent. Payable
on first page of tables.
Whom.
Dividend.
$1,49»,916
6 g. A. & O. London, Gr. Trunk R’y. Oct. 1, 1884
All. A St. Lawrence—2d M. (owned by GdTrunk)..
712.932
£100
6 g. M.ifc N.
3d M., sterling, 5-20 years........ .............................. 150 1871
do
do
May 1, 1891
53 __
$100
733,700
3ifl J. & D.
Augusta A SdronwaA—Stock.....................................
Savannah.
June, 1887
80 1880
1,000
Said Sagte Talley—Qen'l mort.,(s. f. $4,000 per yr.i
380.000
6
J. * J. Phila.,F. Ins. Tr.&S.Dep. Jan. 1, 1910
100 14,792,566
4
M. & N.
Baltimore A Ohio—Stock........ ................... ............... 1,770
Baltimore, Office,
May 1, 1887
100
5,000.000
3
J. & J.
Preferred stock.........................................................
do
do
Jan., 1887
4
J. A J
Loan due in 1880, extended.. ..............................
do
do
At will.
1853
1,710,000
4
Loan, 1853, extended in 1885................................
A. & 0.
do
do
Oct. 1, 1936
1870
1.709,275
do 1870 .sterling, £300,000, sink, fu n d ..........
6 g. M. & S. Lond’ n.BaringBros &Co Mar. 1, 1895
1855
2,575,000
Baltimore loan, 1355-’90, sink, fun d.....................
6
J. A J.
Baltimore, Office.
1390
6,9 17,109
£Ì00
6 g. M. A 8. London, J.S.Morgan&Co Moh. 1, 1902
Sterling mortgage, sinking fund............................. 411 1872
8,141.771
£200
Sterling mortgage, sinking fund— ..................... 421 1874
6 g. M. A N. Loudon, r.S.Morgau&Co May, 1910
1875
Purchase of Cbnuellsv. RR (payable$40.000y’ly)
560,000
6
J. & J.
Baltimore, Offioe.
1886-1900
£200
7.744,000
Loan.ster.,(s.f.£7,500)(B.O. & Ch.bds oollat’l)....... 263 1877
5 g. J. A D. Lond., Bariug Bros.&Co. June 1, 1927
Bonds (Parkersburg Branch bonds collateral).... 104 1879
1,000
3,000,000
6
A. & O. Balt. & N.Y..D. M &Co. April 1,1919
1878
366.000
6
Bonds to State of Maryland....................................
J. & J.
Baltimore, Office.
July 1, 1888
1387
1,000
Equipment loan ($2,500,000) gold ......................
2,000,000
4Ir g. J. A J.
Baltimore.
10 p. c. yearly
1983
£200 11,616,000
Sterling mortgage on Philadelphia Branch.......... ....
4*a g. A. A O. London, Brown, S. & Co. April 1,1933
1,000 10.000,000
Bonds, gold (Pittsb. & Conuellsville b'ds collat'l). 150 1885
5 g.
New York Ageno.v.
Feb. I, 1925
1386
1,000
Mot t, on Schuylkill R. East Side RR., gold (guar.)
4,500,000
5 g. J. <fc D. Philadelphia, Agency. Deo. 1, 1925
1,000
Baltimore A Potomac—1st M (tunnel) gold, s. f. 1 p. o.
1,500,000
1% 1871
6 g. J. A J. London or Baltimore. July 1, 1911
90 1871
1,000
1st mort., road, gold, coupon, s. f. 1 per ce n t.......
3,000,000
6 g. A. A 0.
Baltimore,
April 1, 1911
92 1875
1,000
2d mortgage, income, road and tunnel, reg..........
2,000.000
6
J. A J.
do
Jan. 1, 1915
125 1886
1,000
Beech Creek—1st mortgage, gold............................ .
5,000.000
4 g. J. A J. ST. Y., Gr’d Cent. Depot. July 1. 1936
Car trust loan............ .............................................
400,000
52 1880
Belleville <CEl Dorado—Is t(lnt. guar. St.L.A.&T.H.)
220,000
7
J. A J. N. Y. St. L.A.&T. H. RR. July. 1, 1910
52 1880
2d mortgage.............. ..............................................
330,000
6
F. & A.
do
do
Aug. 1, 1920
Belleville A South. III.—1st M. (int. & s. f. guar.).......
56 1866
1,000
1,041,000
8
A. & O. N.Y.St. L.A.&T. H. RR. Oot. 1, 1896
5
Beils Gap. —Stock.........................................................
550,000
Jan. I, 1887
1873
J
J Phil. ,Cassatt,Town.&Co July 1, 1893
1st mortgage............................................................
250,000
1875
100,000
Extension 1st mortgage...........................................
6
F. A A.
do
Aug. 1, 1905
1883
Consol, mort. (for $550,000)...................................
189.000
6
A. & O.
April 1, 1911
1.000
1.000.000
64 1877
Belvidere Del.—1st mort. due 1877. extended, guar.
J. A D. Philadelphia. Pa. RR.
1902
B ald Eagle V a lley.—Owns from Vail Station, Pa., to Loekhaven
Total grain, of all
’82-83.
’83-84.
’ 84-85
’85-86.
Pa., 51 miles: brauch, Milesburg, Pa., to Bellefonte. Pa., 2bi miles
kinds............... bush 12,770,392 11,553,052 13,048,253 13,718.428
Snowshoe to Sugar Camp, 26^ miles; total operated. 80 miles. Opened
Live s to c k ........... tons,
90,530
82,187
67,890
70,220
December 7,1864, and leased to Pennsylvania Railroad Company for 99
Lumber.................. tons,
93,332
107,398
86,560
92 831
years. The brauch is the property of the lessors. Rental, 40 per cent Through merchandise —
of gross earnings. Gross earnings in $1883, $163,156; net, $231,719.
East and West___tone. 2.108,325 2,275,252 2,338,147 2,731,119
Oross in 1886, $ 103,529; net, $208,427. In Feb., 1885, 5 per cent paid.
In 1885-86 net earnings were $4,026,366; other receipts, $268,4 8 5 Stock is $935,000 (par $50), and div’ ds are paid according to earnings.
$1,294,851: less balance of interest, $2,512,115; dividends.
Baltim ore Sc O hio—(See Bap).—Line of R oad —The B.& O. system total,
$1,330,596;
rents, &o., $219,294; surplus, $232,846.
embraces roads in Md., Va.. Penn., Ohio, Inu. and 111., whioh are dearly
The gross and net earnings of the main stem and its branches and of the
shown in the accompanying map. By means of the Marietta & Cin­
other
divisions
for the last fiscal year, as compared with 1*84-85, were:
cinnati, via Parkersburg, the road has a direct route to Cincinnati.
/—Earnings, 1884-85.-— —-Earnings, 1883-86.—,
The B. & O. mileage is : Main stem, Baltimore t > Wheeling, 379 miles,
Gross.
Net.
Gross.
Net.
and branches, 272 miles, total, 631 miles; Washington Branoh, Relay to Main stem, etc........ .
Washington. 31 miles; Parkersburg branch, Grafton to Parkersburg, Washington Branch... $9,733,232 $3,969.900 $9,848,613 $4,026,366
315,308
194,771
325,320234,506
104 miles; Central Ohio division, Bellaire to Columbus, 137 miles; Lake Parkersb urg Branoh...
rvJ/7
A
Q
Q
iQ
A
liO
A-l
A
*
a % r%
547,757
48,848
663,044
161,347
Erie division, Newark to Sandusky, 116 miles; Chicago division, Chioago Central Ohio Division.
1,060,166
295,856
1,270,476
478.521
Junction to Chioago, 271 miles; Pittsburg division, Cumberland to Lake Erie Division
817,785
119,918
1,013,014
309,711
Pittsburg, 150 miles, and branches, 94 miles, total, 244 miles; Wheeling Chicago Division.........
1,724,612
261,605
2,098,568
269,916
& Pittsburg division, Gleuwood to Wheeling, 66 miles; Straitsville divi­
Division......
1,999,960
773,419
2,430,085
842,421
sion, Newark to Shawnee, 43 miles; Philadelphia Divisioa, 99 miles ; Pittsburg
Wheeling and Pitt. Div.
299,372
7,840
416,259
13,450
Lauderburg Branch, 20 miles; total operated, 1.783 miles. The Balti­ Philadelphia
Division.
114,767
15,246
more A Ohio Philadelphia brauch. connecting with the Balt. & Philadel.
118,430 def. 29,102
214,291
35,208
RR., makes a line from Balt, to Phila., and thence via the Schuylkill Val. New’k Somerset & St'le
& East Side RR. to a connection with the Phila. & Read, lines to Bound
Totals ...................$16,816,642 $5,643,057 $18,422,437 $6,388,694
Brook, N. J. Thence the proposed route to Staten Island, as noted in
The working expenses of the whole system were 65-33 per cent of gross
Chronicle, V. 41, p. 611.
Organization, L eases, &c.—The corporation was chartered in Mary revenue in 1884-5, against 66 03 per oeut the preceding year. Results
land Feb. 28,1827, and in Virginia March 8,1327. First section opened on all lines in four years have been:
Gross Earnings.
Operating Expenses.
Net Earnings.
May 24, 1830. The company was assisted by loans from the City of
$3,705,823
Baltimore. The relations with the auxiliary branches and leased roads l| 82-83.............$19,739,837$11,034,014=35-89 p. 0.
........... 19,436,607
11,676,307=6007 “
7,760,300
ore complex, but the B. & O. virtually owns nearly all of these east of
10,973,583=66 03 “
5,613,057
the Ohio River, and the total charges for rentals and guarantees are 1884-85........... 16,616,612
12.035,743=65-33 “
6.386.695
moderate. In 1885 the charges for advances and the stocks and bonds t8,xrJ-/.8o8 • "-Ao*- 18,4=22,437
of allied companies held were $38,746,447 (of which $3,765,777 were
190'
387> 458' 3 9 3 ’ 6t>5' 635held by trustees). The company has been exceptional in not increasing ¿71:'
B altim ore & P o to m ac.—Owns from Baltimore. Md., to South
its own stock or bonds for new properties acquired, and had a surplus
End
Long
Bridge,
Va.,
43
miles;
and
from
Bowie
to Pope’s Creek, 49
to credit of income account Sept. 30, 1886, of $48,047,461. Fiscal year
miles : total, 92 miles—including tunnel in City of Baltimore. The road
ends Sept. 30.
J
is
controlled
by
the
Pennsylvania
Railroad
Co.,
and
first mortgage bonds
Stocks and Bonds—The pref. stock carries 6 per cent dividends only
To2,?0imu01i-8t0‘;k haa l»aid—in 1877, 8 per cent; in 1878, 8 in stock; in guaranteed by Pennsylvania and Northern Central. Capital stock,
°.3>250- In 1886, gross earnings, $1,335,841; net earnings, $512.J879, 4 stock.and 4 cash; 1880, 9; in 1881,1882, 1883, 1884 and 1885,
188?'J|range in prices of common stock in Baltim ire in 647; interest charge, $283,762; surplus $228,835. lu 1885, gross earn^ 2 32? ’ 091: aet> $551,540: interest charge, $297,181; surplus,
ln 1882- 190*202; in 1883,192^ *205; in 1884,
1®£®199; in 1885, I66»a*183 ; in 1896,150*191; in 1837 to May 20, 8257,3o9. Iueome bouds wholly held by Pena. RR. Co. Gross earnings
lOo v ioUi
£r,°Ao £ -'o 1 10. March 31,1837, $338,210, against $302,513 in 1886; net,
The Baltimore & Ohio direct bonds of 1879 on Parkersburg $139,353, against $110,219.
Creek,.—Jersey Shore. Pa., to Gazzam, 104 miles; branohes
Branch are secured by deposit of mortgage on that road. The sterliug .
mortgage of 1883 is made to William F. Burns, John Gregg and T. Har- to Phillips burg, to mines, &c., 22 miles; total, 126 miles. This is suc­
cessor
to
the
Beech Creek Clearfield & S. W. This company was formed
rt8<i? Garrett, trustees, and secured also by pledge of £1,000,000 1st
& PhUa- RR- (Md. State line to Phila.) The on reorganization in 1886 with the above mortgage bonds and $1,300,000
?oJ)
?eieri
?
d
s
t ’ok and 83,700,000 common shares $50 each. In Jan.,
J>o:ad8®i 1877, due 1927, are secured by the mortgage bonds of the B.
O. & Chic, roads deposited as collateral. The B. A O. bonds of 1885 are i a l l ’ paid a dividend of 5 per cent and 2 ^ on pref. For last half of
warnings
were $379,116; net, $210,944. Cornelius Vanaer2d„,C0Qs°l- bonds of Pittsburg & ConneUsviUe
oTa’ Pr«8ident. (V. 42, p. 631, 727; V. 43, p. 308, 576, 773 ; V.
? . h fUaloa
of N- Y- as trustee. The bonds of MJt,
i 4*, p. o
4*9.)
ai‘ &r Ea8t 81de RR. are guaranteed by B. & O.; the
B elleville Sc E l D orad o.—An extension of Belleville & So. Illinois.
Pennsylvania Co. for Insurance on Lives, <&c., is the trustee.
Finances, &c.—The fiscal year ends with Sept. 30, and Ma!i1i-?u ^ a0i nitortE1 Dora4°< .52 mlles- and leased to St. L. Alton & Terre
a *
lr cAs ® nn a i8ifaot oi
report was given in the Chronicle, Vol. Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and
c *ut -,°c^ i llL a2)t!Y.® that amount. Rental received for 1884,
Pamphlet form, with income account and
month3 after the close of fiscal year, ^ d ’ W ’ i?,r 188®» $15,463; for 1886, $15,707. Stock, $1,000,000.
B elleville & Southern Illin o is.—Owns from Belleville, 111., to
e a r n i t t iemarked of the year’s w ork: “ It is sho vn that the
was leased Oct. 1,1366, to the St. Louis Alton &
th i fu&li0 a n d t l i e branches stated in comparison with
Railr9,adCo. Lease rental 40 percent of gross earnings
dscal year 1835 have in-reased $113,361 and the working exap
i
i
’.022„pei'
mil?
(except
coal, &c.), 30 per cent above $7,000 and
net
of « I a a * ? 4 J.36,895* making a comparative increase it the up to $14,000 per mile, and 20on
per cent on any excess of $14.000 per mile.
of $ } 8'463. The expenses of working and keeping the roads
and machinery in repair amounted to $3.820,247, being 59-10 ner cent Rental forl884, $153,799; for 1835, $157,917; for 1886, $166,103. In011 bonds, and sinking fund $5,000 per year, guaranteed by lessees
a decrea-3®
ll-lOOths o"f 1 percent compar?d ,^nhs ^
y,ear- A semi-annual cash divi lend of five per Common stock, $130,000; pref. 8 per cent stock, $1,275,000, non-cumnDivideuds ou preferred stock past four years have been—5 lu
cent upon the capital stock was paid on the 2d of November, 1883 a id
show^anTnereLpV^thJ111 ¥
1836. The profit and loss aooo mt 1886; 5 in 188o; 0I9 in 1881; 614 in 1883; 513 in 1882; l ^ i n 1881.
snows an mcrease for the past fiscal year of $232.845 It will be se -n in 1
^ tolrvona, Pa., 2 5 miles. Gross earnings
S
$
14=5>036; net, $78,830; interest paid, $34,179; dividends,
d
e r i ^ diiom
^ o ^net
e t earnings,
earam «Urpla8
a? ’ is
wMc^
represents'invested
capital
ueiiveu
and which
not rem-esented
hv either
«rent $16,o00; snrplus, $27,851. Of the consol, mortgage $350,000 Is reserved to retire prior issues. Stock was increased in 1833 to $550,. ctla3. F. Berwind, Pres., Philadelphia.
r . ^ e , 5 erT® D e la w a r e .—Owns from Trenton, N. J „ to Manunka
Millham Cut-off, 1 mile, Flemlngton RR., 12
The «renerai tram r i ^
oiieiiing, make Xld2,70S IDS. 2d.”
of tpnSafe careie*:'J111foar w s past is shown by the folio wing table miles; total operated, 80 miles. Leased to United Companies, and transof, idi to Pe.aasylvanla RR. March 7,1876, by which operated as their
Coal ana coke carried—
Belvider® Division, and net earnings paid over as rental. In Feb., 1835,
’ 82-83.
’81-84.
’81-35.
’85-86.
On main stem (tons)... 2,581,557 3,263,521
3,137,170 3,673,488 tue b lemiugton RR. Co. was merged in this. The 1st mort. and new 4
Of which for Co.’s use
\
409.695
439,912
413,544
489,361 J-.ci PoJid8 are guaranteed by the United Co’s. In 1885 net earnings were
On Pittsburg Div.
2,402,130 2,157,696 2,003,932 2,127,238 f o S l’IT? a5d M erest payments $269,713. In 1886, net, $151,252; int.,
On Trans-Ohio Dlvs'.l".
684.696
966,158
909,591 1,329,631 $263,311. Capital stock, $1,150,000; par of shares, $50.—(V. 43, p. 578.)
tr.
* R u tla n d .—Owns from Rutland to Bennington,
Total........................ 5,668,383 6,392,675 6,400,716 7,430,367
I ? m > branch, No. Bennington to New York State Line, 2 miles;
total, 59 miles. Chartered as West. Vermont in 1815, and consolidated
Carried to Baltimore—
in Harlem Extension in 1870. Since Sept. 10,1877, the Vermont division
S w T i.....................-bbte. 701,935
717,258
766,163
752,150
................... bash. 6,633,443 6,415,550 3,200,025
G°rn........... ........bush. 1,935,900 3.472,910 8.383,859 3,137,159
9,471,2.5




INVESTORS*
SUPPLEMENT.
[Y ol x l i t .




M a y , 1887.]

RAILROAD STOCKS AND BONDS,

10

Subscribers w ill confer a great favor by givin g Im m ediate notice of any error discovered In these Tables.
Bonds —Prinol INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
of
Par Outstanding
For explanation of column headings, Ao., see notes of
Stocks—Last
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
on first page of tables.
Bclvidere Dei.—(Coni'd) —Cons, mortgage of 1876..
Consol, mort.. reg,. guar, by Un. Co’s & Pa. R R...
Flemington RR. M. bds........................................*•
Bennington A Rutland—1st mortgage.......................
Berkshire—Stock....................................- ....................
Boston A Albany—Stock................ ............................
Plain bonds, coupon or registered..........................
Loan of 1875, coup, orreg................... - ...............
Bonds Issued to State for its stock.........................
Boston Concord <£ Montreal—Old pref. stock, guar..
Com. and new pf. stock (new pf. stock is $540,400)
Sinking fund bonds ($624,000).....---- - - - - - - .......
Consolidated mortgage bonds (for $2,000,000)....
Improvement mortgage bonds................................
Bost.Hoosac Tun. A West.—Debenture bonds.............
Boston A Lotcell—Stock.............................. .................
Bonds................................... .....................................
Bonds.........................................................................
B o n d s .......................................................................
B onds........................................................ .
Bonds..........................................................................
Bonds.......................................................................
Lowell A Lawr., b onds...........................................
Salem & Lowell, b onds...........................................
Nashua & Lowell.................................... .................
Do
do
....................................................
Boston A Maine—Stock...............................................
Bonds, coupon and registered................................
Improvement bonds.................................................
Boston A N. T. Air-Line—Stock, pref. (guaranteed)
1st mortgage..........................................................
boston A Providence—Stock.......................................
Bonds to purchase branches, coupon or registered

67 1876 $1,000 $1,200.000
67 1885-7 1.000
1,250,000
12 1876
1,000
250,000
59 1877
475,000
1,000
22 __
100
600,000
374
100 20,000,000
1872
5,000,000
1,000
1875
2,000,000
1,000
1882
3,858,000
186
800,000
io o
186
100
1,000.000
1858 100 Ao.
202,000
160 1873 200 Ao.
1,947,400
166 1881
1,000
500,000
1883
1.000
1,400,000
717
....
100
5,329,400
....
.... 1872
999,500
.... 1875
....
500,000
.... 1876
....
750,000
.... 1879
....
620,000
....
.... 1883
250,000
....
.... 1885
500,000
....
200,000
• ••• ....
....
226,900
....
200.000
....
....
100,000
583
100
7,000,000
.... 1873-4 500 Ao. 3,500,000
1885
....
926.000
54
100
2,983,500
50 1880
1,000
500.000
68
100
4,000,000
.... 1873
500.000

B erkshire.—Owns from Connecticut State Line to West Stockbridge, Mass., 22 miles. Leased in perpetuity to Housatonic Railroad
Company at 7 per ct. on oapital stock, $600,000. Lessors pay taxes, Ac.,
and for this reason the quarterly dividend due in Oct. is usually omitted
Boston Ac Alban y.—Owns from Boston, Mass., to Albany, N. Y.
201 miles; numerous branches, 99 miles; leased lines, 84 miles ; total
operated 384 miles. The Boston & Albany was formed (Dec., 1867)
by the consolidation of the Boston & Worcester and the Western rail­
roads. The five per cent bonds of 1882 were Issued to the State of
Massachusetts in exchange for 24,115 shares of B. & A. stock held by
the State, and in September, 1883, out of this stock a stock dividend of
10 per cent was made to stockholders. In 1886 another 313 per cent of
stock was given to stockholders. Last annual report in V. 43, p. 578.
For the six months ending March 31 gross earnings were $4,184,293
in 1886-7, against $3,916,008 in 1885-6; net, $1,261,997,against $1,392,336; surplus over fixed charges, $415,137, against $568,149.
Operations for four years were as follows :
Passenger Freight (ton)
Gross
Net
Div.
Years. Miles.
Mileage
Mileage.
Receipts. Receipts.* p. ot.
1882- 3 .. 369 157,255,971 373,535,456 $8,539,875 $2,380,971 8
18834.. 384 167,402,441
374,347,455 8,148,713 2,362,836 8
18845 .. 384 167,< 97,784
398,862,058 7,637,982 2,344,305 8
18856.. 384 .. 177,787,439
390,464,378
8,298,733 2,488,345
8
* Net receipts include income from rents, Ao.
- ( V . 42, p. 217, 603; V. 43, p. 22,163, 514, 5 7 8 ; V. 44, p. 212, 586.)
B oston Concord Ac M o n tre a l.—Owns from Concord, N. H .,tc
Woodsville, N. H., 93 miles; branches—Woodsville, N. H., to Groveton
Junction, 53 miles; Wing Road to Mt. Washington, 20 miles; leased
Plymouth to No. Woodstock, 21 miles; total operated, 186 miles.
In June, 1884, leased to Boston A Lowell. See V. 38. p. 705.
Of the sink, fund bonds due in 1889, there are outstanding in the hands
of other parties, $202,000, on which interest is paid; the trustees holding
$306,000 and the corporation holding $116,000 on which no int. is paid.
Fiscal year ends March 31. The Income account in 1884-sft showed net
receipts from rentals, Ao.. $272,748; charges, $307,564; balance, defloit
$34,816.—(V. 44, p. 525.)
B oston H oosac T u n n el Ac W estern .—Owns from Massachu­
setts State Line to Rotterdam (Junction of N. Y. WestSh. ABuff.RR.), N.
Y., 61 miles, and leases branches to Saratoga and to Schuylerville, N. Y.
26 miles; total, 87 miles. The road connects with the line running
through the Hoosac Tunnel.
°
The work of construction was done under contract by the Continental
Construction A Improvement Co. (120 Broadway. New York) and in
tllat 00 •npany sold its Interest in the B. H. T. A W. road to
^ a88-» f°r $2,900,000 Fitchburg preferred stock
00 of common stock. The Fitchburg RR. assumes $l,4u0,
000 B. H. T. A W. 5 per cent debenture bonds outstanding. That onm.
pany also set aside $700,000 preferred stock, into which the $¿.800 000
common stock of the B. H. T. A W. Co can exchange one share for four.
up as Allows : $3,600,000 Fitchburg pref. stock. $ ;.000,000 Fitchburg com. stock, $1,400,000 deb. bonds; or $7,000,000
paid for the property. The transferwas to take place about June 1,1887
*1 w r/ w f ,ri 1
K
l 18.86, tfross earnings were $632,304; net,
$182,250; intei est. $100,000; taxes, $18,933.
Gross e mings for three months ending Dec. 31 in 1886. $183 191
4§a?
92*I™
o ! 1w
?«o’ 216,
o,25
1( a»V.
aiQ8t
.388620.)
in 1885.’—(V!
42, p. 892,
430, c604;
V. 43, p.; 102,
635;
44, $3
p. '212,
Hftw " t^
8fr0i? ^ 08t0Ilt0
L«weil,
m.; branchesBaicm.
& l?J?L!lP'T?11*77Ow?
Lowell, 17 miles; Lowell
Lawrence.
12 27
miles*
others 29
R
l
l
lepD
Central,
20
miles;
leased—Nashua
A
Lowell,
Stony Brook RR.. 13 miiAs* wm-./vn p p i r
. « „ ¿ . . . - 1 __ ’_15
_ nmiles;
operates B. Con. A Mon.. 187 miles; No. of N. Hamn 83 miles and Onn* Claremont, N. H., 90 miles; total in 1885?86, 717 n’iles. The
L o &
r®:“ ce and Salem A Lowell railroads were purchased and
consolidated m 1879 and the Middlesex central in 1883? In September,
1886, a lease of the Central Mass. RR. was made.
p
’
At
Il88-f’ a iea8e of
North, of New Hamp. and the Bost. Con.
smaed^InMareh3^^8S7'th*®»6, 1 eo1ntr° l of th° 8®roads was then as8
„ n * r£ r 1887, the Northern lease was held void.
subiectStn w i i ' *2
Boston & Maine was effected in April, 1897,
;°i vo|? ° f stockholders in June. The company had $920 OOo
notes outstanding Sept. 30,1886. Earnings, etc., havfe been as fol low«:
Total income...........
operating e x p e n s e s . . ^ 623,434
$4’628'386
3,184,470
Net income......
$1,414,005
$1,443,916
Disbursements—
Taxes.
Rents
............. .................... $163,204
$170,175
71-<,568
i n t e r e s t .. " . : ;; ; ; ; " ;; ; ; ; ; ; l^ ii 1
253,084
Balance1dlsbur8ement8................................ $1,129,029
Dividends] 6 pêr'cênt.V.V.'.'.'.V.'.'.‘.W.Y.'.V.Y'. $2 5 l’ l51




$1,141,828
$302,087
290,133

7
4
6
7
1\
2
7
6
5
2ia
"¿'
6A7
6
5
3
7
7
6
5
4*2
4
6
6
6
5
5
7
4
2
5
4
7

J. A J.
Various,
J. A J.
M. A N.
Q .-J .
Q. -J .
F. A A.
J. A J.
A. A O.
M. A N.

Treasurer. Trenton,N.J.
Philadelphia, Pa., RR.
Treasurer, Trenton,N.J.
N.Y., Union Trust Co.
Stookbridge, Treasurer.
Boston, Oifioe.
do
do
do
Boston, Offioe.

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

& 'j .
Boston, Oifioe.
do
do
A O.
do
do
A J.
A S. Cp. Sep.,’85, pd. J ’y,’86.
A J.
Boston, at Oifioe.
A 0.
do
do
A S.
do
do
A J.
do
do
A J.
do
do
A N.
do
do
A 8.
do
do
A O.
do
do
A O.
do
do

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

A
A
A
A
A
A
A

1889
1893
1911
Sept. 1, 1913
Jan. 1, 1887
April 1, 1892
Maroh 1,1895
July 1, 1896
July 1, 1899
May 1, 1903
Sept. 1, 1905
Oot. 1, 1897
Oot. 1. 1898
1P91
1900
Boston, at Office.
May 16,1887
do
do
Jau.,1893 A94
1905
N.Y., N.Ÿ. N. H A H. Co. Oct., 1, 1886
do
do
1905
Boston, at Oifioe.
May 2, 1887
do
do
July 1, 1893

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

Jan. 1. 1916
Sept., 1925-27.
Jan. 1, 1916
Nov. 1. 1897
April l . 1887
April 1, 1887
Feb. 1, 1892
July 1. 1895
April 1, 1902
May 2, 1887

B osto n Ac M a in e.—Owns from Boston. Mass., to Portland
Me., 115 miles; branches, 11 miles; leased—Boston to New Hamp. State
line 41 miles: N. Hamp. State line to Maine State line 16 miles; Maine
State line to Portland 51 miles; Conway Junction to North Conway 73
miles; Worcester, Mass., to Rochester, N. H., 94 miles; numer­
ous short branches, 187 m iles; total operated, including East­
ern, 584 miles, less 3 miles leased. In Maroh, 1883, voted to lease
the Eastern RK. of Massachusetts, but after litigation the lease was held
to be Invalid and a new one was made in December, 1884, on the basis
stated under title of the “ Eastern” in this S upplem en t . In Deo., 1885,
leases of the Worcester Nashua A Rochester and the Portland A Roches­
ter railroads for 50 years from Jan. 1, 1836. were oonftrmed by vote of
stockholders. In April, 1837, a lease of the Boston A Lowell was
made, inoludiug the lines controlled under lease by that company—
the Northern of N. H., the Bost. Concord A Moat., thoConn. A Passumpsic, Ao., subjeot to vote of stockholders in June. The flsoal year ends
Sept. 30. The last annual report was in V. 43, p. 717, and the income
account for two years was as follow s:
INCOME ACCOUNT.
Receipts—
1884-85.
1885-86.
$6,232,096
$7,253,881
Gross earnings..............................
Net earnings.................................
$2,071,090
$ 2,500,472
Rentals, Interest, Ao....................
279,463
289,809
Total income...........................
$2,350,553
Disbursements—
Rentals paid................................
$1,225,526
Interest on debt............................
266,424
Dividends....................................,(8 p . c.) 560,000
Eastern (under lease)..................
158,603

$2,790,281
$1,365,117
255,440
( 9 ^ p. c.) 665,000
469,724

$2,210,553
$2,755,281
Total disbursements.............
Balanoe surplus.............................
$140,000
$35,000
—(Y. 42, p. 518, V. 43, p. 607, 7 1 7 ; V. 44, p. 184, 369, 458, 544.)
B osto n Ac N e w York A ir L in e.—Owns from New Haven, Conn.,
to Willimantio, Conn., 50 miles; leased, Turaerville to Colchester, 4
miles ; total operated, 54 miles. Formerly the New Haven Middletown
A Willimantio. A lease was made in Oot., 1882, to the N. Y.N.H.A Hartf.
RR. for 99 years at 4 per cent dividends per year on the pref. stock and
interest on the bonds ; the oommon stock is $834,900.
B oston Ac Providence.—Owns from Boston, Mass., to Providence
R. I., 44 miles; branohes, 20 miles; leased, Attleborough to North Attle­
borough, 4 miles; total operated, 68 miles. Co. has valuable depot
properties in Boston. Notes outstanding Sept., 1886, were $280,000.
Gross earnings in 1885-86, $1,784,805; net, $399,880; in 1884-85,
$1.677,066; net. $381,326.—(V. 43. p. 605.)
B radford B ordell Ac K ln z u a —(3-foot gauge)—Mileage from
Bradford, Pa., to Simpson, Pa., 15 miles; Kinzua Junction to Rew City,
2 miles ; Rew City to Eldred, 12 miles ; Simpson to Smethport, 10 miles ;
total, 39 miles. Stock Is $500,000, par of shaies, $100. In Nov., 1885,
bondholders subscribed 5 per cent on their bonds to resume payments.
Gross earnings in 1885, $71,897 ; net, $19,775. John J. Carter, Titus­
ville. Pa.. Pres’t.
B radford Eldred Ac Cuba.—Owns from Eldred, Pa., to Bolivar
and Wellsville, N. Y., and branoh to Riohburg, and Cuba to Little
Genesee, 54 miles. Stock, $480,000. There are also 2d mortgage bouda
for $60,000, 6s, whloh were due June 1, 1885. Foreclosure suit begun
in February, 1885. Thos. C. Platt appointed receiver in Oot., 1835, and
$23,526 certificates authorized. Gross earnings in 1834-85, $42,856;
def. $1,393; def. under interest, taxes, etc., $36,010 : gross in 1835-86,
*45,824; deficit, $10,963; Interest. $33,600: total deficit, $14,563.
Total defloit to Sept. 30,1886, $90,248. R. G. Taylor, President. (V. 42,
p. 23, HO.)
B roo k ly n Elevated.—Line of road from Fulton Ferry and Brook­
lyn Bridge via Broadway, Ac., to East New York, 6 \ miles. This
Is the Brooklyn Elevated Railroad organize 1 Oot., 1831, as successor to
the Brooklyn Elevated Railway sold in foreclosure May 12,1884. The
capital stock Is $5,000,000; the second mortgage bears 3 per cent Interest
till 1883 and 5 per cent thereafter.
For the six months ending March 31,1887, gross earnings were $208,078: net, $103,885; deficiency under charges. $16,716.
The annual report to State Commissioner for ye ir ending Sept. 30
1886. gave gross earnings $518,480; net, $139,108; total payments,
$203,772; net deficit, $6 4,312. Henry W. Putnam, President.—(V. 42,
p. 5 9 ; V. 43, p. 693; V. 44, p. 212, 654.)
B ro o k ly n Ac M o n ta u k .—Brooklyn to Eastport, L. I., 71 miles;
branches to Fresh Pond Junction, 2 miles; to Rockaway, 9 miles;
total, 82 miles. This was first the South Side Railroad of Long
Island, which was foreclosed Sept. 16, 1874, and reorganized as the
Southern of Long Island. On June 3,1879, the property was again sold
in foreclosure of the second mortgage, and this company organized.
The preferred stock has a preference of 7 per cent, not cumulative. It
is leased to the Long Island Railroad for 50 years at 25 per cent of the
net earnings of the whole Long Island RR. system, including its leased
lines. No rental has been reported as paid, and no public reports are
Issued. Of the mortgage for $1,000,000, $750,000 is reserved to take up
the first mortg. bonds in 1887; it is guaranteed by L. I. RR. as to, in­
terest on $750,000, and both principal and interest ou the $250,000.
Daniel Lord. President F. B, Lord, Secretary, Now York City.

20

INVESTORS’

SUPPLEMENT.

[V ol XLIV.

Subscriber* w ill confer a great favor by givin g im m ediate notice o f any error discovered in these Tables.
Bond«—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When I Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Bradf’d,
Pa.,
Co.’s
Office
June
1, 1932
J.
&
D.
6
1882
$500
$498.000
41
Bradford Bordell <6 Kinzua—1st mortgage.............
6
J. & J. Last paid July, 18*4. Jan. 1, 1932
1,000
500,000
54 1881
Bradford Eldred <&Ouba—1st m ort..........................
Oct.
1,
1923
N.
Y.,
Cent.
Trust
Co.
A.
&
O.
1884
6
1,000
3,500,000
6-9
Brooklyn Elevated—1st mort......................................
do
July 1, 1915
3-5
J. & J.
1,000
1,250,000
6-9 1885
2d mortgage (for $1,250,000)................................
....
82
100
2,000,000
Brooklyn <£•Sfontaulc—Stock ($1,100,000 is pref.) ..
M. & S. N.Y., Corbin Bank’gCo. Mar. 1, 1887
750,000
7
54 1867 500 &c.
South Side, 1st m ortgage.........................................
6 g. M. & S. N. Y., Corbin Bann’gCo. Mar. 1, 1911
1,000
250,000
85 1881
B’klyn & M.-(Oont’d)-New M. ($1,000,000),gu.L.I.,g
None ever paid.
Jan. 1, 1913
5 g. J. & J.
2.000,000
Brunswick <£ Western—1st M., g., (for $2,500,000).. 171 1883 5Ó0&C.
J. <fe J. N. Y. L Erie & W. RR. Jan. 1, 1896
7
1,000
580,000
26
Buff.Brad.d Pitts.—Gen. M.,(incl. 10,000 ac. I’d). . . .
3% J. & D. N. Y. L. Erie & W. RR. Deo. 1, 1886
100
950,000
Buffalo New York <£•Erie—Stock............................... 142
do
do
Deo. 1, 1916
J. & D.
1,000
2,380,000
140 1876
firs t mortgage..........................................................
7
50 13,750,000
Buffalo N. I. eg Philadelphia^—Stock, common....... 634
Q
.-M
.
Phila.orN.Y.,Co.’sOfflce
Dec. 26,1.883
6,570,650
634
50
lia
Brock, preferred........................................................
July 1, 1896
6 g. J. & J. Last paid, July, ’85.
3,000,000
1st mortgage, gold................................................... 121 1871 500 &c.
Q
.-M
.
Last
paid,
Sept.,
’85.
Deo.
1, 1908
7
g.
121
1878
500
&c.
1,000.000
2d mortgage, gold.....................................................
1,000
6 g. J. & J. ig paid in cash Jan., ’85 July 1, 1921
6,099,000
Consol, 1st mortgage, gold....................................... 205 1881
tg
paid
in
cash
Nov.,
’84
May,
1, 1923
M.
&
N.
2.748,000
6
g.
1882
1,000
Trust mort., gold (secured by collaterals).............
6 g. M. & 8. !g paid in cash Mar., ’85 Mch. 1. 1924
1,000
1,700,000
General mortgage (for $24,500,000)..................... All. 1884
April
1, 1921
*g
paid
in
cash
Apr.,
’85
A.
&
O.
6
g.
1,000
4,061,000
261 1881
Buff. Pitts. & W., M. bds (for $7,500,000 coup.) —
1,500,000
7
F. <fe A. Aug.coup.pd.by Ph.& E. Feb. 1, 1896
1,000
57 1865
do
1st mort. (W. <fc F. R R .)...............
Last
paid,
Oct.,
’85.
Apr.
1,
1912
A.
&
O.
573,000
6
1862
1,000
38
do
1st M.(OilCr.RR.) renew’d, ’82..
J. & J. 3 paid in cash Jan., ’85 July 2, 1890
500,000
7
25 1870 500 &c.
do
1st mort. (Un. & Titusv. RR.) —
3
paid
in
cash
Feb.,
’85
Feb.
1,
1896
F.
&
A.
7
100
&c.
866,000
120 1876
do
Consol, mort. (Pitts. T. & B.) —
622.625
Income bonds for funded coupons..........................
‘
*6
1,628,015
Car trusts, principal and interest........................ .
Feb. 1, 1921
F. & A. N. Y., Union Trust Co.
6
1,000
1,300,000
Buffalo Rochester <6Pittsburg.—R & P. 1st m ort... 108 1881
do
do
Deo. 1, 1922
J. & D.
1,000
6
3,681,000
R. & P. Consol, mortgage........................................ 258 1882
1921
do
do
6
1,000
1881
478,000
R. & P. Income mortgage.........................................
Gallatin Bank.
Various.
810,000
6 & 7 Various
Var’s 1,000
R. & P. Equipment bonds (car trust) in 3 series...
2
943,666
(?)
67
Buffalo <&Southwestern—Stock (one-half of it pref.)
1,000
1.500.000
67 1877
6 g. -T. & J. N. Y., 1st Nat. Bank. July 1, 1908
1st mortgage bonds, g o ld ........................................
100
5.500.000
Burlington O. Rapids <£Northern—Stock.................. 713
1
...............
B ru n sw ic k <fc W e ste rn .—From Brunswick to Albany, 171 miles,
and 83 miles projected to Columbus, Ga. This was formerlV the Bruns­
wick & Albany, and the present company has $3,500,000 pref. stock,
and $1,500,000 common. Mr. Fred. Wolffe in New York and a syndi­
cate in Frankfort were most heavily interested. Gross earnings in 1886,
$326,216; net, $46,819. In 1885, gross, $283,129; net, $20,719. S.
W. Kinsley, President. N. Y. City.
B u ffalo B radford Sc P ittsb u rg.—Owns from Carrollton, N. Y.
to Gilesville, Pa., 26 miles. Completed in 1866, and leased to New
York Lake Erie & Western for 499 years. Rental, 7 per cent on out­
standing bonds, $40,600 a year. Capital stock, $2,286,400.
B u ffalo New f o r k <fc E rie.—Owns from Buffalo, N .Y ., to Cor­
ning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for
400 years, and now operated by the N. Y. Lake Erie & West. Co. Rental,
$238,100—viz., 7 per cent on stock and bonds and $5,000 for organiza­
tion expenses. Dividends and interest paid directly by the lessees.
B u ffalo New Y o r k Sc P h ila d elp h ia.—A consolidation in
February, 1883, of the Buffalo N. Y. & Philadelphia, the Buffalo Pitts­
burg & West., Oil Citv& Chicago and Olean & Salamanaca. Mileage is as
follows: Buffalo Division—Buffalo, N. Y.. to Emporium, Pa., 121 miles,
Larabees, Pa., to Clermont, Pa., 22; Pittsburg Division—Buffalo, N. Y.,

Receipts—
1884-5.
Gross earnings.......................
$1,216,680
Net income (including miscellaneous)..... $336,707
Disbursements—
Interest...........................................................
348,272
Rental and miscellaneous...........................
117,166

1885-6.
$1,299,362
$390,357
352,106
56,128

$465,438
$408,234
Balance................................... .............def. $128,731
def. $17,877
Walston H. Brown, N. Y , President.
— V. 43, p. 218, 369, 398, 579, 608, 634, 738; V. 44, p. 212, 309, 392,
402.)
Buffalo Sc Southw estern.—Owns from Buffalo to Jamestown,
N. Y., 67 miles. Formerly the Buffalo & Jamestown; reorganized
in 1877, after foreclosure. In July, 1880, leased to New York Lake
Erie & Western for 99 vears—at 35 per cent of gross earnings, but
interest on bonds guaranteed. Rental in 1885-86, $90,831. In January,
1885, the lessee made default in payment under the lease, and suit was
brought, but settlement was afterward reported and 2 per cent dividend
declared. (V. 40. p. 60.)
B u rlin g ton Cedar B ap ld s Sc N orthern.—On Jan. 1, ’87, oper­
ated from Burlington, Iowa to Albert Lea, Minn, (including 11 miles
leased), 253 miles; branches—Linn, la., to Postville, la., 94 miles; Mus­
catine, la , to Riverside, la., 31 miles; Vinton, la., to Holland, la., 48
miles; Iowa City to What Cheer and to Montezuma, 73 miles; Clinton
Division, 81 miles; Deoorah Division, 23 miles; Iowa Falls Division,
430 miles; Waverly Division, 6 miles; total operated, 1,039 miles. The
former oompany was organ ized as the Burlington Cedar Rapids &
Minn., June 30, 1868. Defaulted Nov. 1,1873. Property sold under
The trust bonds of 1923 are secured by $500,000 first mort. bonds of the foreclosure June 22,1876, and this oompany was formed by the pur­
Genessee Valley Terminal Co., $700,000 of the first mort. bonds of the chasers. In May, 1885, a decision was obtained by the holders of old
Olean & Salamanca RR., $1,600,000 first mort. bonds of the Oil City & equipment and 2d mortgage bonds of 1874, in the case of Simmons
Chicago RR. and $300,000 mort. bonds of the No. West. Coal & Iron Co. against this company, holding those bonds to be good against the road,
In 1884 the earnings proved insufficient to meet interest, and after and giving defendants the right to redeem the property on payment
trying a plan which was not successful, a receiver was subsequently of amount found to be due, which is about $1,000,000. The case is
still pending.
appointed and foreclosure suits were begun.
Bonds of the Cedar Rapids Iowa Falls <fe Northwestern road are en­
In Feb., 1886, auother plan was issued (see Ch ro n icle , V. 42, p. 242)
by which foreclosure would be made and $10,000,000 new first mortg. dorsed (endorsement is on the bonds); the 6 per cent bonds are redeem­
bonds issued, of which $6,073,000 would be reserved for the several able at 105 after Oct. 1,1890. Of the 5 per cents $825,000 are reserved
issues of old first mortgages, and the B. N. Y. & P. 2d mortg., the bal­ to retire the 6 per cents. The company guarantees the above bonds
ance for re-orgauization expenses and for future use. A 2d mortg. for mentioned, and also guarantees $150,000 of Minneap. & St. Louis bonds .
(20,000,000, interest payable in cash, or in cash and scrip, to be issued In April, 1884, for the purpose of issuing additional bonds for exten­
or all other bonds on certain terms; and $30,000,000 to be the author­ sions, the limit of authorized capital stock was raised to $30,000,000.
ized issue of new common stock. The old stock to pay an assessment The consolidated bonds are dated April 1,1884, and issued at $15,000 per
of 8 per cent on the preferred and 12 per cent on the common, each mile to build new road, and secured by first mortgage bonds on the
receiving the new 2d mortg. bonds for the assessment paid, and share roads built, deposited with the trustee of this mortgage. The roads
for share in the new stock. This plan was backed by a strong oom- thus built to Dec. 31,1885, were the Cedar Rapids & Clinton, 82 miles,
mltte and received the assent of a large majority of bondholders. Fore­ $1,200,000 bonds; Chicago Decorah & Minnesota, 23 miles, $348,000
bonds; and the Cedar Rapids Iowa Falls & Northwestern, Minnesota and
closure decree was made in May, 1887.
For the six months ending March 31 gross earnings were $1,222,138 Dakota Division, 386 miles. $3,063,000 bonds.
The annual report for 1886 said: “ The earnings of this railway for
in 1886-7, against $1,202,287 in 1885-6; net, $51,507, against $267,493;
the current year did not equal the previous year, on account of de­
deficit under charges, $171,552, against deficit of $22,115.
creased
in through business, and lower rates on both through
The annual report for the year ending Sept. 30, ’86, was in the Chron­ and localtonnage
business. The business of 1887 has opened fairly for the first
i c l e , V. 44, p. 89, and contained the following income account.
three months. What the effects of the Inter-State Commerce law will
Receipts—
1883-84.
1884-85.
1885-86.
be on the earnings can only be surmised, but we should anticipate a de­
Gross earniogs............................$2,614,774
$2,335,514
$2,568,217 crease.
For two months from Jan. 1 to Feb. 28, gross earnings were $416,146
$454,847
$373,007
Net earnings........ ................ $526,933
Rentals anainterest.................
42,300
57,924
55,853 in 1887, against$385,111 in 1886; net, $100,943 in 1887, against $80,468
in 1886.
For 1886 the annual report in V. 44, p. 619, gave net income, &c.,
Total inoome....................... $569,233
$512,771
$428,860
for four years as follow s:
FISCAL RESULTS.
Interest on bonds, pd. & unpd. $1,275.935
$1,413.500
$1,410,380
130,751
342,783
206,234
Other interest, &c.....................
1886.
1885.
1884.
1883.
1,039
990
990
713
Miles operated........
Total disbursements........... $1,406,686
$1,756,283
$1,616,614
$
$
Earnings—
$
$
662,485
691,174
666,922
654,746
Balance....................
def.837,453 def. 1,243,512 def. 1,187,754 Passenger................
2,141,646
2,284,542
2,024,175
2,117,949
Freight......................
—(V. 43, p. 48.73,102.131, 190, 244, 867, 546, 608,63 4, 635, 774; V. 44
129,178
117,797
105,362
90,859
Mail, express, &o__
p. 8 9 ,18 4 , 210, 276, 433, 551,652, 654.)
2,933,309
3,093,513
2,796,459
2,863,554
Tot.
gross
earnings
B u ffalo R ochester Ik P ittsb u rg R a ilw a y .—(-See map.) Owns
2,132,404
2,189,543
1,917,769
1,968.177
from Rochester, N. Y., to Walston Junction, Pa., 229 miles; Buffalo Oper exp. and taxes
800.906
Branch from Ashford June, to Buffalo, 46 miles; other branches, 17 Net earnings... „ . . . .
903,970
878,690
895,377
7270
miles; total, £ 92miles.
_ , P.c. op. ex. to earn’s.
70-77
68-5
68-7
This company was formed in March., 1887. as successor of the Roch­
INCOME ACCOUNT.
ester Ar Pittsburg and the Pittsburg & State Line RR., which were fore­
1886.
1885.
1884.
1883.
closed in Oct. 1885 and purchased by Mr. A. Iselin
$ ..
$
Receipts—
$
$
That portion of the road lying in Pennsylvania was known as the Pitts.
800,90a
903,970
878,690
895,378
Net
earnings...........
& State Line RR. Co. The consolidation of the companies in New York
63,252
83,798
48,596
31,108
Other receipts.........
and Pennsylvania was delaj ed by litigation till March, 1887.
864,157
The preferred stock of the consolidated company is $6,000,000 (en­
987,768
909,798
943,974
Total income.........
titled to 6 per cent dividends, lion-cumulative), and common stock,
Disbursements—
749,898
$6,000,000. A meeting to be held June 10 votes on raising total stock Interest on debt.......
742,275
573,663
521,232
3,l42
to $13,000,010, and buying cut the preference of preferred stockhold­ Const’n& improvem’t
70,794
68,778
89,942
45,605
ers with $3,000,000 of certificates o f indebtedness.
41,925
294,904
10,774
Equipment................
For the six months ending March 31. gross earnings were $779,608 in Other expenditures..
25,056
44,802
28,617
1886-7, against $672,489 in 1885 6; net, $202,055, against $179,139;
806,823
880,050
681,832
950,880
surplus over interest, taxes and rentals, $32,345, .against del. of $40,Tot. disbursem’ts
def.6,906 sur.227,966 sur. 107,718 sur.57,334
Balance.....................
29The income account of the R. & P. for the yearEenjjngRSe.pt. 30 were as
—(V. 42, p. 60, 6 6 2 ; V. 43, p. 516, 745; V. 44, p. 90,184,494, 619.J
follows.
¡Ltklaarm rtBsIK&BS^EIEE:

?




M a y , 1887.]




RAILEDAD

STOCKS

AND

BONDS

31

\

INVESTORS’

31

SUPPLEMENT.

[V o u X U V .

Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In these Tables.
B mds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal.When Due.
Size, or
Miles
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
Of
For explanation of column headings, &c., see notes
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
June
1. 1906
N.
Y.,
Central
Trust
Co.
J.
&
D
.
$3,500,000
5
1876
$
LOO&o.
369
Burlingt'n 0. Rap. A Northern—( Oont'd) —1st mort.
Sept. 1, 1909
do
do
1,000
584,000
73 1879
7 g. M. & 8.
Iowa City & Western, 1st mortgage, gold, guar..
Oct.
1,
1920
do
do
A.
&
0.
6
g.
1.C00
825,000
1880
55
Céd. Rap. I F.& N.W., 1st M., g., guar.,red.aft.’90
Oot. 1. 1921
do
do
1,903,000
5 g. A. & O.
1.000
177 1881
do
1st M., gold, guar........................
April
l,
1934
do
do
A.
&
O.
5
g.
i,000&o
4,716,100
1884
All
Consol. 1st mort. & collat. trust, gold, coup. & reg.
Oct. 1, 1931
5 g. J. & J. Last piid. Jan., ’84
1.000
3,857,000
Cairo Vineennes A Chic. -1 st M. bds., gold (Wabash) 271 1881
2,250,000
1,000
4*2 g. J. & J. N.Y., Eugene Kelly & Co Jan. 1, 1912
California Pacific—1st moff., gold (ext'd’d at 4 1« ) . 114 1867
6 g. J. & J. N.Y., So. Pac. RR. Office Jan. 1, 1891
1,000
1,600,000
2d mort., end. by Cent. P ao................................... 114 1871
July, 1905
do
do
3.000.000 3 & 6 J. & J.
500
3d, mort. guar, by Cal. Pac.($1,000,000 are3s)... 114 1875
Camden, Co.’s Office. Apr. 1, 1887
1,257,100 3 on pref
50
78
Camden A Atlantic—Stock ($880,650 of it pref.)....
March,
1893
Phila.,
Farm.
&
M.
B’k.
J.
&
J.
1,000
490,000
7
g.
78 1853
1st mortgage (extended 20 years in 1 8 7 3 )..........
Oct. 1, 1904
do
do
A. & O.
6
1854
1,000
497,000
2d mortgage, extended in 1879...........................
July
1,
1911
do
do
J.
&
J.
6
1.000
350,000
1881
Consol, mortgage (thirty years).............................
1897
F. & A. Phila.. Penn. RR. Co.
6
350,000
31 1867 500&OCamden A Burlington Co.—1st mortgage................
Feb.
5,
1887
N.
Y.,
Grand
Cen.
Dep.
F.
&
A.
100 15,000,000
404
1H
Canada Southern—Stock............
J. & J. N. Y., Union Trust Co. Jan. 1, 1903
5
1,000 13.858,441
1st mort., interest guar, by N. Y. 0. & Hud. R iv.. 404 1878
Mar. 1, 1913
do
do
M. & S.
5
2d inortgage, coup, or reg........................................ 404 1883 l.OOO&o 5,100,000
100 65,000,000
1>8 F. & A. N. Y. Offl >e. 53 Wall St. Feb. 17, 1887
Canadian Pacific—Stock (guar. 3 p. o. div. till ’93). 4,346
1893 & 1910
Montreal.
Various
5
&
6
1,823,333
Canada Central RR. 1st & 2d mort. bonds...........
do
A. & O.
5
7,000,009
Quebec Prov. due on Q. M. O. & O. and N. S. RR..
Oot.
1, 1931
Montreal
,N.
Y.
orLondou
A.
&
O.
5 g.
1881 500 &o. 3,527,000
Land mortgage bonds, gold (redeemable at 110)..
All. 1885 Ä100&C 34.998.633
5 g- J. & J. London, Baring B. & Co. July 1, 1915
1st mort. debent, sterling.............................. --—
June
1,
1916
N.Y.,
Farm.
L.-fe
Tr.
Co.
J.
&
D
1,500,000
6 g
Cape Fear A Yadkin Valley—1st mortgage, gold.... 155 1836 $1,000
1,800,000
1,000
6 g. J. & J. N.Y., Farruers’L.cfe T.Co. Mch. 31, 2000
Carolina Central—1st mortgage, gold, coup, or reg. 242 1881
July
1,
1915
New
York,
Office.
6 g. J. & J.
1,000
1,200,000
2d mort., gold, income, reg., not cumulative........ 242 1881
July 1, 1910
do
do
6 g. A. & O.
1.000
1,500,000
3d mort., gold, income, reg., not cumulative........ 158 1881
July,
1911
J.
&
J.
6
2,250,000
1,000
Carson A Colorado—1st mortgage............................. 158 1881
July 1,1913
J. & J.
6
1,000
510,000
1883
Second Division m o r t .............................................. 43
.............
1,159,500
50
98
Oata/utissa—'Common stock.............- --- -- .................
May
18, 1887
Philadelphia
Co.’s
office
M.
&
N.
31«
3,200,000
50
98
Preferred stock ($2,200,000 is ol 1 pref.)..............
Phila., Phila.& Read.Co. Feb. 1, 1902
6
230,500
1882
1st mortgage............................................................
Feb.
1, 1900
F.
&
A.
do
do
500
&c.
1,300,000
7
1870
93
Mortgage bonds.......................................................
41« J. & J. INew York. 44 South st. Jan. 1. 1887
100 1
589,110
34
Cayuga A Susquehanna—Stock.................................
Cairo Vincennes & C hicago.—Cairo to Tilton, III., 271 miles;
branch, St. Franolsville to Vincennes, 8.; total, 279 miles. This was a
consolidation of t ie Cairo & Vincennes, Danville & 8. W. and St. Francisville & Lawrence roads, forming the Cairo Division of the Wabash St.
Louis & Pacific. The latter company issued its o wn bonds secured on
this road lor $3,857,000, and after default the roa 1 was surrendered
to the mortgage trustees, Messrs. A. J. Thomas and Charles E. Tracy,
April 27. 1885. Foreclosure proceedings are pending, but are not
“
*
R *C6iV0r*H
9

____t____n#

«1/\I TT/lt o H in d in U t Ail

_______

ending

Of the land grant bonds there are outstanding only the above amount,
against which are deferred payments oa lands sold, amounting to $1,2 :3,533. The Government al*o holds $1,000,000 of land bonds, which
are to be canceled. The lands in possession of the company are about
14,959,718 acres. The bonds are receivable for lands and may be
paid off at 110.
^
Gross earnings for three months from Jan. 1,1887, $1,873,394, against
$1,621,581 in 1883; net, $3,997, against $250.303.
The annual report for 1886 was published atlength in the Chronicle,
V. 44, p. 652, 655. The following is a comparative statement of earn­
ings and expenses for the last two years:
OPERATIONS AND FISCAL RESULTS.
18 <5.
1886.
Miles operated................................. - .......
4.338
4,464
Passenger mileage........................................116,702,980
150,466,149
2-45 ots.
2 ,10ots.
Rate per passenger per mile............. .
Freight (tons) m ileage..............
406,822,166
555,438,lt>9
1’10 ots.
R ite per to a per mile.......................... - ■- 1 ’20 ots.
23vrninqs—
... .
Passenger...................................................... $2,859.223
$3,170,714
Freight.........................................................
4,831.8*6
6,112,380
Mall, express and miscellaneous .............
627,404
798,710
Total earnings...................................... $8-838, 3
$10,0'1,304
Operating expenses....................................
5,143,27b
6,378,317
$3,703,487
Net earnings.............................................. $3,225,217
Per oent of oper. expenses.to earnings...
61 '46
63-26
INCOME ACCOUNT FOR 1886.
Net earnings..................................................... -......................... " I ’A . j n i o
~lxed charges ............. ....................- ......................... - ............ 3,u j 3,i>4a

net'S41.875, against $15,738. In 1886 gross earnings were $658,813;
net, $145,339. (V. 43, p. 479; V. 44, p. 494.)
California Paciftc.—O wns from South Vallejo, Cal., to Sacramento,
Cal., 61 miles; branches—Adelante to Calistoga, 35 miles; Doer’s to
Knight’s Landing, 19 miles; total operated, 113 miles. Leased for 29
years, from July 1,1876, to Central Pac. Rental, $600,000 per annum,
and three fourtns of net earnings when in excess of that amount. Cap­
ital stock, $12,000,000. In 1885, gross earnings, $932,399; net, $522,627. (V. 43, p. 514.)
Cam den Sc A tla n tic.—Owns from Camden, N. J., to Atlantio
City, 60 miles; Atlantio City to Longport, 7 miles; Phil. Marl. &
Med. RR.; Haddontteldto Medford, 12 miles; total operated, 79 miles.
Pref. stock, entitled to 7 per cent if earned, and to as high as paid to com.
ifmorethan7. For three months fro in Jan. 1 gross earnings were $90,452
in 1887, against $32,150 in 1886; aef. $23,526, agaiust clef, of $ 7,721.
On main line and branches in 1885, gross earnings were $561,347; net,
$134.143. In J886, gross, $599,090, net, $129,775; other income,
$20,802, total. $150,578; deduot interest, rentals, &o., $ 18,963; sur­
plus, $51,610. See annual report for 1836, with inoome account, &o.,
in V. 44, p. 494. (V. 44, p. 4 94.)
Cam den & B u rlin g ton C ounty.—Owns from Camden, N. J.,
to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount
Holly, 7 ""le a ; total, 30 miles. Leased to Camden & Amboy Railroad
Co., and now operated by the Pennsylvania Railroad Company, lessees
of United Railroad & Canal Company’s lines. Lease rental, $44,415,
being 6 per cent on stock and bonds, and $500 for organization ex­
penses. Capital stock $381,925 and funded debt $350.000. Dividends
m Januarv and July. Gross earnings in 1885, $199,979; net, $71,310.
Gross in 1886, $216,035; net, $63,632.
Canada Southern.—Link op R oad—Main line from International
to Essex Centre,
—m----- "-------'
St. Thomas,
i,Chatham &
J H I ________ H i_(j__|______________
_
_
Southern &
Detroit, 56, and Michigan Midland & Canada, 15; total of all lines
operated, 436 miles, of which 105 miles are nominally owned by proprie­
tary companies under separate organizations.
The Canal a Southern Railway Company was chartered in Canada
Feb. 28, 1868, and the main line opened Nov. 15, 1873. Default
was made, and a reorganization forming the existing company was
completed in 1878. Interest on the 1st mort. is guaranteed by the New
York Central Railroad Co. for 20 years; but the principal is not guar­
anteed. In Nov.. 1882, a close contract was made with the Michigan
Central for 21 years from Jan. 1,1883, providing for the operation
of the Canada Southern by the Michigan Central, also for the placing of
the total earnings of both roads in a common treasury, out of which is to
be paid, first, the operating expenses of both roads; seoond, the fixed
charges of both; third, the division of the remainder between the two,
in the rate of two-thirds to the Michigan Central and one-third to the
Canada Southern. In 1885 the surplus to C. S. was $3,679; in 1836,
surplus, $107,335. For latest reports of earnings see Michigan Central.
—(V.42, p. 22,752; V. 43, p. 23; V. 44, p. 21, 584 )
Canadian Pacific. —(See Map.;—The whole road extends from
Montreal to Vancouver on the Paciflo coast in British Columbia.
2,906 miles. There are branches and auxiliary lines owned of 925
miles, and 821 miles of leased lines, making the whole system 4,651
miles, of which 187 miles were not quite finished on Jan. 1,188 7. ("See
details in C h r o n i c l e , V. 44, p. 658.) The road was opened throughout
the first of July, 1886.
In Nov., 1883, leases were made of the Ontario & Quebeo system, m
oludingthe Credit Valley Railway and Toronto Grey and Bruce, about
590 limes in all, with bridge facilities at Montreal.
This company was incorporated February 18, 1881. under a charter
from the Dominion of Canada. The company had an important con
tract in its charter, receiving from the Government $25,000,000 in cash
as a subsidy, also 25,000,000 aores of land, all to be fit for settlement
The Government also conveyed to the oompany, free of all cost, 713
miles of road. The company also acquired 449 miles of road and branches
from Montreal west to Callendar, subject to $5,423,333 in liens on
those roads.
In Nov., 1883, the Dominion Government gave a guarantee of 3 per
oent dividends per annum for ten years on $65,000,000 of stock.
By final agreements with the Dominion Government, in April, 1886, a
settlement was made discharging all ihe company’s obligations. The
Canadian Paciflo Railway Co., through Baring Bros., of London, sold
$20,000,000 of bonds, the proceeds of whioh were applied to paying off
apart of the indebtedness of the oompany to the Government, while the
balance of $9,000,o0 j was liquidated by transferring 6,793,014 acres of
land belonging to the original grant of 25,000,000.




Snrolus
........ ................................................- ......... $635,444
—(V. 43, p. 22,’ 48.162, 274, 547, 671; V. 44, p. 59,184, 308, 343, 433,
525,620, 6 5 2 , 6 5 5 .)
_
,,
.
_
•_
Cape Fear & Y a d k in V aliev.—Iu operation from Greensboro, N.
C., to Bennettsville, 8. C., 155 miles. Road is farther projected some
250 miles additional, and is in course of construction by tue North State
Improvement Co., a corporation organized for the p irpose. For three
mouths to Mar. 31, gross earuings were $37,689 in I s 37, agaiust $->8,844
in 1386; net, $33,375, agiinst $33,813. In 1386 grp is earnings were
$227,223, net $111,540; in 1885, gross earnings $20o,9o8, net$9o.7o4,
C arolina Central.—Owns from Wilmington, N. C., to Rctherford,
N. C., 267 miles. Formerly Wilmington Char & Rutherford, chartered in
1855. Suoceeded by existing company after foreclosure May 3, 1873.
Defaulted, and reoeiver placed in possession April 5.1876. Sold m fore­
closure May 31, 1880, for $1,200,000.
In 1885-86, gross earnings;
guaranteed by
blue uu. a Liu w o ttu. w l . au,-., —
■ . ——3
of $1,200,000 was placed for five years from Nov. 1,1879, m the hands of the
reorg. oommittee, but is now all Issued to 2d mortgage bondholders.
C a r s o n & C o lo r a d o .—(3 foot gauge.)—From Mound House Nev., to
Candelaria, Nev., 158 miles; Junction to Keeler, Cal., 141 miles;
total 299 miles. Road follows the valleys along eastern side of Sierra
Nevada Mountains and may eventually join Southern Pacific at Mojave.
Stock, $6,380,040 authorized; $2,760,000 issued. H. M. Yermgton,
Pres’t, Carson, Nev.
_
, _
_ *.
nA
C a ta w is s a .—Owns from Tamanend, Pa., to Williamsport, Pa., 94
miles; branch, Summit Station to Silver Brook, 4 miles; total operated,
98 miles. Leased from Nov. 1,1872, for 999 years to Philadelphia <x
Reading. Rental, 30 per cent of gross earnings and $3,000 a year for
oompany expenses. Funded debt is also assumed by lessees. Seven per
oent is guaranteed on the preferred stocks. (Y 43, p. 387.)
__
Cayuga Sc Susquelianna.—Owns from Susquehanna River to
Ithaca, N. Y., 34 miles. Leased in perpetuity to Dela. Lack. & West, at
a rental of $54,600 a year. Dividends on oapital, 9 per cent per annum.
Cedar F a lls Sc M in n esota.—Owns from Waterloo, la., to Minn.
State Line, 76 miles. Leased to Dubuque & Sioux City for 40 years
from Januarv 1, 1867, at $1,500 per mile as a minimum and a con­
tingent of 35 per cent of gross earnings from $3,500 to $7,500 pot mile
and of 30 per cent ot any excess over $7,500 per mile. The Dub. & S. O.
(carrying this road) was acquired by 111 Central in 1837. Capital stock.
$1,586,500. All operations and earnings are included mIllinois Central
reports. The minimum rental is $113,370 per annum. J. S. Kennedy.
^C entral B ranch U n ion Pacific.—( See Map Mo. Pac.)—Owns firom.
Atchison, Kan., to WaterviUe, Kan., 100 miles; leased Atchison Col &
Pao. 254 miles; Atoh. J. Co. & W., 34 miles; total operated, 383 miles.
The Un. Pac. Cent. Branoh was formerly the Atchison & Pike s Peak RR.»
and was one of the roads embraced in the act of Congress mcorporating
the Union Pacific RR. The stock is $1,000,000, of which the Union
Paciflo owns $658,700. The company received a Government subsidy
of $1,600,000. Default on interest was made M ay1,1873, but no fore­
closure took place. It is operated as a part of! the Missouri F ^ 1*0
system under a 25 years lease, made Sept., 1885, by whioh the net earn
ings are paid to Union Pacific as rental In 1886 Sross earnings were
$ *705,763; net income. $748.357: charges, ^ p 5 o ¡ dividends.
$100,000; surplus, $177,002. For 1885 gross earnings were $1,83|V
840; net, $591,000; total fixed charges, $513,136i surplus $93,333. in
Ootober, 1885, 5 per oent dividend paid. In 188b paid 10 per cent.
—(V. 42, p. 350.)

MAP OP THE

M M

CANADIAN PACIFIC
RAILWAY

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Aylmer L.

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liaiiroada projected or in progress

« 4

INVESTORS’ SUPPLEMENT.

[ V ol . X L IV .

Subscribers w ill confer a great flavor by givin g Im m ediate notice of any error discovered In these Tables.______ _
IBonds—Pnne!INTEREST OR DIVIDENDS.
DE8CRIPTION.
|pal,When Due.
Miles Date
or
Amount Rate per When Where payable, and by Slocks—Last
of
Por explanation of column headings, &c., see notes of
Value. [Outstanding Cent. Payable
Whom.
Dividend.
Bonds
Road.
on first page of tables.
Jan. 2, 1907
J. & J.
7
1866 $500&c. j $1,377,000
M. & N. N. Y., 195 Broadway, May 1, 1895
6
1,600,000
1,000
1866
do
do
May 1, 1895
630.000
7 g. M. <fc N.
1,000
1879
]U.S. Treas., at maturity. 1896,’97, ’98
6
1,600.000
100 ’66-7-8 1.000
Savannah, Ga.
j. &“ d .
Dec. 20,1886
4
7,500.000
100
730
Jan. 1, 1893
J. & J.
7
5,000,000
1,000
620 1872
1937
5
5,000,000
1887
Savannah,
Ga.
1891
J.
&
J.
6
4.600.000
100
1881
New York.
Jan. 1, 1892
J. & J.
6
987,000
Last
raid
Ju’y,
1886.
July
15,1899
J.
&
J.
7
3,700,000
189 1879 500&C.
A. & 0. No interest ever paid. 3 mos. notice.
7
629,000
1880 500 &c.
Last
paid
April,
1884
April
1, 1912
A.
&
(J.
619,000
6 g.
1,000
124 1882
1924
A. & O. Last paid April, 1884
6
612,000
1,000
89 1882
1912
Last
paid
April,
1884
I
A. & O.
6
127,000
1,000
97 1882
June 1,1924
6 g. J. & D. '•8coups, pd. to June,’8
4,430,000
1.000
499 1884
....
6
508,000
....
....
7,245,988
44
5
....
(?)
44 1886
i^
100 18,563,200
573
1890
F. '& A. New Y< rk nt Office.
7
5,000,000
1,000
74 1869
Nov., 1902
M. & N. Last paid May, 1886
7
4,400,000
1,000
1872
July
1. 1899
Last
paid
Apri1
,
1886
--J •
7
1,000 15,000,000
97 1874
1887
J. & J. New York, at Office.
7
600,000
7 1867 50Ó &c.
July
1, 1921
Last
paid
July,
1886
J. & J.
5
5,000,000
1,000
1881
May 1, 1903
M. & N. Last paid May, 1886
7
5,454,000
1878 100 &c.
May
1,
1908
Last
paid
Nov.,
1884
M. & N.
6
5,000,000
1,000
1883
J. <fc J Balt., at B. & O. office, Jan. 31,1887
3
2,859,300
50
137
Sept., 1890
do
do
M. & S.
6
2,500,000
1,000
137
(?)
F. & A. N. Y. & San Francisco. Feb. 1,1884
3
100 68,000,000
3,003
1895 to ’98
New York, Office,
6 g. J. <fc J.
1st mort., gold, (2 sinking funds, $50,000 each).. '742 1865-8 1,000 25,883,000
July 1, 1888
do
do
284,000
7 g. J. & J
1,000
50 1864
Califor. State aid, gold (s.fund, $50,000) extend.
Oct.
1, 1900
do
do
!
A.
&
o
6,080,000
6
g1,000
1870
146
lstm.S. Joaq’n Val. Br., gld (s.f. $50.000)...
1895 to ’98
U. S. Treasury.
Li. & j
6
1 25,883.000
742
U. S. Loan. (2d lien on certain terms)..........
Central o f Georgia (& BankV-O w ns from Savannah, Ga.. to 1908, and were issued Oct., 1883, partly in exchange for the old income
Atlanta, Ga., 295 miles; branch, Gordon to Milledgeville, 17 miles; bonds: they bear interest positively, and not “ if earned.” On Feb. 1,
leased—Augusta & Savannah, 53 miles; Eatonton Branch Railroad, 1885, the first default was made in payment of mortgage coupons.
June 1, 1883, the road was leased for 99 years to the Phila. &
22 miles; Southwestern Railroad and branches, 343 miles; total opera­ RfOn
fuUnir r r . Co. at 6 per cent on stock and interest on bonds, but a
ted, 730 miles; also takes net results of 170 miles more operated by
decision
was rendered in Feb., 1886, holding this lease void and on Oct.
separate companies. In 1886 leased the Mobile & Girard RR.» 84 miles,
15,1886, Messrs. J. 8. Kennedy and Joseph S. Harris were appointed re­
from June 1. In 1881 the lease of the Georgia RR. for 99 years ceivers,
and
afterwards resumed possession from the lessee and operated
was taken in the interest of this company and the Louisville & Nashville,
read from Jan. 1,1887. The circular relating to status of com pany
which operate it on joint account. The certificates of debt were the
and
giving
the
floating liabilities (total, $2,687,700 was in V .43,p. 514.)
Issued, June, 1881, as a dividend to stockholders—$40 per share to Cen­
In the years ending Nov. 30,1884,1885 and 1886, theP. &R. Co.,lessee,
tral Georgia and $32 per share to Southwestern. The companv owns a
reDorted
gross
reoeipts,
net, fixed charges, &o., on this road as follows:
large interest in connecting lines and the Ocean Steamship Co. ol
e
*
1883-4.
1884-5.
1885-86.
Savannah. This company and the Georgia Railroad Company are joint
Gross
e
a
rn
in
g
s..........
$10.441,095
$10,300,466
$10,690,719
owners of the Western Railroad of Alabama, purchased at foreclosure
5,995,114
5,699,200
6,000,013
sale inlApril, 1875. The “ tri-partite” bonds were issued jointly by this Expenses........................
company, the Macon & Western and the Southwestern.
Net earnings............. $4,445,980
$4,6* 1,266
$4,690,706
The annual report for the year ending August 31,1886, was in the
CFixed charges__ $4,806,420
$4,825,851
$4,847,000
Chronicle, V. 43, p. 633. The income account was as follows:
Less (D ividen ds..........
1,113,792
1,113,792
1,113,792
1882-83.
1883-84.
1884-85.
1885 86.
Gross Income.............. $4,977,807 $4,659,082 $3,911,407 $3,916,991
$5,920,212
$5,939.643
$5,960,792
Expenses................
2,950,115
2.851.455
2,211,615 l,922,0o7
$1.474,231
$L,338,377_____ $1,270,086
Net income.......... $2,<>27,692 !pi,riO?,627 $1,699,792 $1,994,934 —(V. 42, p. 22,^186, 214, 303, 365, 393, 462, 479, 574, 727,782; V. 43, p.
Int., rentals and div.. *1,9 8 2 ,517
1,848,49 1
1.776 .36 9 1,9 13,8 4 2 102,103, 131, 190, 367, 458, 514, 547, 671; V. 44, p. 21, 275, 362, 466,
Surplus.......................
$45,175 Def.$40,864 Dei.$76,577 bur. 81,092 525. 544, 620.)
* Dividend in 1882-83, 3 per cent; in 1883-84, 6; in 1884-5, 5 p. o.; in
Central O hio.—Owns from Bellaire, Ohio, to Columbus, Ohio
137 rati«*»- Chartered in 1847 and opened In 1854. Reorganized In
1386 6 p. o.
1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866;
—(V.437p. 607, 622, 6 33; V. 44, p. 59,184, 653.)
Central Io w a .—Owns from Albia, la., to Northwood, la., 189 rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
miles; Griunell & Montezuma Branch, 13 miles; Storey City Br., 35 extended to Dec. 1,1926, with the option of renewing for terms of 20
miles; Newberg branch, 27 miles; Belmond branch, 22 miles; total old years perpetually. It is proposed to issue a new mortgage of $2,850,road, 288 miles. Eastern Division to Mississippi River, 124 miles, and 000 at 4*3 per cent, running till 1926, and present bondholders may ex­
Illinois Division to Peoria, 89 miles. Total, 499 miles. Bridge over change their bonds due 1890 for the new bonds; the B. & O. Company
Mississippi River at Keithsburg opened Dec., 1885. Chartered as receives $1,000,0(0 of these bond for improvements on the Cent. Ohio,
Central RR. of Iowa and opened in 1871. Defaulted and placed in 1866-86. In 1883-84 gross earnings. $1,169,773; net, $376,638; rental,
hands of a receiver in 1874. Reorganized under present title June 18. $409,4” 0. In 1884-85 gross earnings $1,060,166; net, $295,856;
rental, $371,058; loss for year, $75,202. The road between Newark &
1879, after foreclosure sale under first mortgage July 18,1877.
The stock is $8,076,600 common; 1st preferred, $871,500, and 2d pre­ Columbus (33 miles) is owned jointly with the Pittsh. Cin. & St. Louis
' •
ferred, $1.078,300. First preferred has prior right to 7 per cent RR. Co. (V. 43, p. 102.)
Central P a c if ic .—(See Map o f Southern Pacific.)—Line of Road—
(non-cmm.iH.tive); then 2d preferred entitled to 7 per cent; any surplus,
—Main
line—San
Francisco.
Cal.,
to
Ogden,Utah,
883
miles,
and
auxil­
after payment of 7 on common stock, to be divided pro rata between
iary lines, 371; total, 1,252 miles; oper. under lease or contract; Cal.
Pac.,
115,
North.
RR.,
154,
others,
1*?8:
total,
397
miles;
total
length
of
In Oct., 1884, default was made in payment of interest. In October,
1885, a plan was brought forward, but never carried out, and in May, road operated and accounted for J an. 1,1886,1,650 miles. The So. Pac.
in
Cal.,
Arizona
and
New
Mexico,
1,108
miles,
formerly
accounted
for
1887, another plan was made. See V. 44, p. 653.
Mr. A, B. Stickney is the Pres’t, and his report giving the result of his by the Central Pacific, are leased to the Southern Paolflo Co., and ac­
counted for by that Co. In connection with the Union Pacific, the
investigation into the company’s affairs was in V. 43, p. 634. ,
In Dec., 1886, Mr. Etbelbert L. Dudley was appointed receiver. A suit Central Pacific forms a continuous line from San Francisoo, Cal., to
is pending by the Central Trust Company, Trustee, to foreclose the con­ Council Bluffs, la. (1,918 miles), which was opened May 10,1869. The
Cal. & Oregon line is being extended northward to a junction with
solidated mortgage.
,
. „
Oregon & Cal. at the State line
, •„
The fiscal year ends Dec. 31. The income account was as follow s:
In March, 1885, the Central Pacific lines were leased to the Southern
INCOME ACCOUNT.
Paeiflo Company, and the previous lease of the Southern Paoiflo Railroad
1883.
1884.
1885.
to Cent. Pacific was relinguished to the same company. The Cent Paeiflo
Gross earn in gs..... . . . . . . .
$1,392,587
$1,448,259
$1,307.371 receives all its net surplus income above annual oharges of every sort ana
Net ea rn in gs..... . . . . . . . . .
$473,046
$409,800
$323.894 betterments, and a minimum rental of $l,2c 0,000 and a maximum of
iCt—
$3,600,000 (payable annual!v on May 1), is provided for by the lease,
Interest on b on d s.............
$331,000
$421,795
$513,880 but this rental is first applicable to the payment of Central Paeiflo
Interest on car trusts.......
35,835
30,600
30,948 floating debt, if any; and when the first year’s rental fell due in May,
Miscellaneous.............. .
8,870
14,603
18.859 1886, no dividend was declared. One effect-of the lease was to fix the
control of Central Paolflo without regard to ownership of the stock. (See
Total ............................
$375,705
$466,998
$563,687 abstract of lease, V. 40, p. 480.)
Balance...............................Sur. $97,341 Def. $57,198 Def. $239,792
The Charter , L eases, &c.—The C. P. was a consolidation (Aug. 2Z,
—(V. 42, p. $71, 752; V .43, p. 216,458, 634,671; V.44,p. 117,211, 551, 1870) of the Central Pacific (organized Oct. 8, 1864), California A
633.)
Oregon, San Francisco & Oakland, San Francisco & Alameda and San
Central o f M ass acini setts.—This company was organized Nov. Joaquin Valley railroads. The act of Congress of July 1, 1862, granted
10,1883, by the bondholders who purchased the Massachusetts Central U. S. bond subsidies and lands to the Pacific railroads; the act of J W p
at foreclosure sale Sept. 1,1883. Road completed from ( ambridge to 1864, made the lien of the Government subject to that of the first mort­
Jefferson. Mass., 44 miles. In Sept., 1886, a lease was made to the gage bonds, but authorized the Government to withhold one-half the
Boston & Lowell for the term of 99 years on the basis of a rental of 20 charges for transportation on its account, and also to reoeive 5 per cent
per cent of gross eai nings up to $1,000,000, and 25 per cent on earnings of the net earnings; the “ Thurman” act of May 8, 1878, directed that
above that amount, but with a guarantee of sufficient rental to pay in­ the other one-half of charges for Government transportation should be
withheld, and also that the company should pay $1,200,000 yearly to
terest.—(V. 43, p. 274, 367, 508, 579.)
Central o f New Jersey.—Owns from Jersey City, N. J., to Phil- the Government for the sinking iuna of Its debt or as much thereof as
lipsburg, N. J., 73 miles; branches, 30 miles; leased and operated, shall make the 5 per cent of net earnings, plus the whole transportation
in New Jersey, 269 miles, and In Pennsylvania, 201 miles; total account, equal 25 per cent of the whole net earnings for the year. The
operated, 573 miles. The principal leased lines in Pennsylvania are leases are numerous and mostly for short dates, and the terms of each
the Lehigh & Susquehanna and the Lehigh & Lackawanna, with in brief were stated in the Ch ro n icle , V. 37, p. 47.
An agreement for consolidation with Ore. & Cal. RR. by an exchange
their branches, &e. Under the lease of 1883 to Philadelphia & Reading
stock i as been made. (See O. & C. in this Supple vest .)
the minimum rental of Lehigh & Susquehanna is $1,414,400 per year
S
tock and Bonds.—Prior to the current year the following dividenas
and maximum $1,728,700 till 1888; then $1,885,800 till 1893, and
after that $2.043,000. In February, 1877, the property was placed in
the hands of a receiver. A majority of the Lehigh & wilkesbarre Coal
Ti» AAA AOOII UV-JWAV* o J
V» owv. w! ----Company’s stock is held by Central of New Jersey, and of the 1II lOOv,
$11,500,000 Lehigh & Wilkesbarre Coal bonds, $6,116,000 are held 61®88; in 1884, 30@67% ; in 1885, 2 6 ^ 4 9 ; in 1886, 3 *«5 1 ; In .1887,
by Central of New Jersey and receive interest after all other bonds to May 2o, 33*4338. Most of the issues of bonds have sinking funas,
are satisfied. The American Dock & Improvement Company is vir­ as seen in the table above, hut these sinking funds are invested mainly
tually owned by the railroad company, and the right exists to in the bonds of other Huntington lines and accumulate; the bonus
purchase the bonds by lot at 110. The adjustment bonds are payable at are not called in. The sinking funds amounted J an. 1,1886, to $8,2 <o,will. The 6 per cent convertible debenture bonds run positively till 076. The land grant bonds are retired with proceeds of land sales.

Cedar Falls <6Minn.—Bonds on 2d div.. sink. I’d ... I
Central Branch Union Pacific—1st mort., gold . ...
Funded Interest bonds (coupons held in trust). ..
2d mort. (Government subsidy)................... ..........
Central R. R. <t Banin,
—Stock............................
General mort. “ tripartite” bonds, coup. . .............
Collateral trust bends.............. v ..........................
Certificates of debt (for dividend)................ .
Ocean 8S. Co., guar.. 1st mortgage........................
Central Iowan-1st mortgage.......................................
Debt certificates, issued for overdue coupons—
1st mortgage, gold, Eastern D ivision...................
111. Division, 1st mortgage ($16,000 p. m )..........
1st mort. on branches ($12,000 per mile)..............
Consolidated mort., gold (for $6,748,000).............
Car trust certificates ...........................-......... - - •*
Central Massachusetts—Stock ($3,852,088 is pref.).
Mortgage bonds (for $3,000,000)........................ .
Central o f New Jersey—Stock...................................
1st mortgage bonds....................... .........................
Bonds (convertible Nov., 1875 to 1877)................
Consolidated mortgage (for $25,000,000).............
Newark & New York. 1st mortgage................ .
Am. Dock & Imp.Co. new M. bds., guar. C. of N. J.
Adjustment mort. (redeemable any time at par)..
Debenture bds., eonv. into stock till 1907.............
Central Ohio—($411,550 of this is preferred)..........
1st mortgage bonds................................................ .
General mortgage (for $2,850,00«').......................




61
100

May , 1887.]

RAILROAD

STOCKS

AND

BONDS.

' 4»

35 i

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Bonds—Princi­
INTEREST
Miles Date Size, or
pal .When Due
Amount Rate per When
of
Par Outstanding
For explanation of column headings, Ao., see notes of
Where Payable, and by Stocks—htkBt
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
Central Pacific—(Continued)—
West. Pac., 1st m.. gold, (incl. $111,000 reserved) 158 1869 $1,000 $2.735,000
6 g- J. A J.
New York, Offioe.
July 1, 1899
West. Pac., Government lien................................... 123 1869
1,970.000
6
U. S. Treasuiy.
1899
Cal. A Oregon, 1st M., gold, guar., (S. f. $100,000) 152 1868
1,000
6,000.000
6 g. J. A J.
New York, Office.
Jan.
1, 1888
1,000
Cent. Pac., mortgage, on C. <fe O. Branch............... 144 1872
5,800,000
6 g. J. A J. New York A London. Jan. 1, 1892
20 1870
San Fran O. & A., 1st M. (s. f. $100,000).............
1,000
687,000
8
J. A J. N. Y., Cent. Pao. Ottioe. July 1, 1890
1870
1,000
Land grant 1st mortgage bonds.............................
4.570,000
6 g. A. A O.
do
do
Oot. 1, 1890
1.000
Land grant 2d mortgage bonds........ .....................
5,000,000
1886
1,000
Fifty-veer b o n d s........................... . . ..................
1,373.000
6
A. A 0. N. Y. A Sau Francisco,
1936
Income bds. ($6,000,000). skg.fd., 10 p.c.per ann’m
1878
1,000
3.285,000
8 g. M. A N. N. Y. and Sau Fran. May. 84 to *88
Charleston <£•Savannah—Gen. inert, for $1,500,000.
....
1,081,000
7
J. A J. Charleston A New York. Jan. 1. 1936Charlotte Columbia <£- A ugusta—1st mort. consol... 191 1869 500 Ac.
2,000,000
7
J. A J. N. Y., Nat. Park Bank, Jan. 1, 1895
1,000
2d Mortgage.............................................................. 191 1872
500,000
7
A. A O.
do
do
Jan. 1, 1910
1865
Colombia A Augusta 1st mortgage........................
189.500
7
J. A J.
do
do
Jan. 1, 1890
1883
Consol, mortg., gold (for $3,000,000).....................
1,000
Nil.
J. A J.
New York Agency.
1, 1933
8
gJuly
23 1871
Chartin'»—1st mortgage.............................................
1,000
500,000
7 * A. A O. Philadelphia, Penn R.R. Oot. 1, 1901
Chesapeake <e Nashville —1st mortgage....................
....
(Î)
Chesapeake <£ Ohio—Purcli. money funding bonds... 428 1878
1,000
2,279,000
6 g. J. A J. N. Y., Company’s offioe. July 1, 1898
1st mortgage, gold, series “ A” ................................ 503 1878
1,000
2,000,000
6 g. A. A O.
do
do
July 1, 1908
do
do
do “ B” ................................ 428 1878 100 Ac. 12,694.910
6 g. M. A N. *3 Nov. coup. pd. in scrip July 1. 1908
428 1878 100 Ac.
do
do
do ext’d at l per o t ........
2,279,304
4 g. M. A N.
July 1, 1986
....
do
funding scrip...................................
975,000
2d mortgage, cur. (interest in stock or cash)........ 428 1878 100 Ac. 10.106.189
6
J. A J. N. Y. Company’s Offioe. July 1, 1918
1st mortgage, gold, of 1911, Peninsula Extension
75 1881
1,000
2.000,000
6 g. A. A O.
do
do
Jan. 1, 1911
1st mort., gold, of 1922 on exten. (for $3,000,000)
1882
1,000
142,000
6 g. J. A D.
do
do
June 1, 1922
Var.
Equipment trust b onds..........................................
1,000
1,209.000
6
Various
do
do
Various.
Ches. Ohio <£•Southwest.—1st M.. gold ($19,000 p.m ) 353 1881
1,000
6,070,000
5-6 g. F. A A. N. Y., 52 Exch’ge Place, Feb. 1, 1911
2d mortgage ($11,000 per mile)............................. 351 1881
1,000
2,768,000
6
F. A A.
do
do
1, 1911
Feb.
Paducah & Elizabetht’n, 1st M. ($300,000 are 8s) 186 1877
1,000
500.000
6 A 8 F. A A,
do
do
Feb. 1. 1897
Equipment trust bonds for $2,000,000..................
1882
1,000
666,000
6
J. A J
do
do
Yearly
to 1892
Cheshire—StocK, preferred........................................
*64
____
100
2,100,000
3
J. A J- Keene, N. H., Office.
Jan. 1.1887
Bonds, not mortgage........................................... .
76-’78 500 Ac.
80O.000
6
J. A J- Boston, Boat. Nat. Bk. Inly 1,’96A’98
Chicago <C Alton—Common stock.............................. 850
. ...
100 14,110,800
2
Q. -M .' N. Y., John Patou A Co. June 1, 1887
Preferred st’ck (7 p. o. y ’rly not cumulative)....... 850
....
100
3,479.500
2
Q —M.
do
do
June 1. 1887
T he L and G rant.—The total land granted the Central Paoiflo and the pref. to recei ve 6 per oeut. Thu Ches. A Ohio guarantees $700,000 bonds
California & Oregon companies was about 12,000,000 acres. In 1885, tur a grain elevator, but in ease of paying them will take the elevator.
$499,950 was received for lands sold. Cash and land contracts on hand
The full interest charge per year in cash is $1, ;79,260. In May,
Jan. 1,1886, $2,231,474.
1885, the company paid in cash one-half of the coupon falling due.
Operations, F inances, Ac.—The Central Pacific Railroad had a strict aud the same in Nov., 1835 and 1836, but paid only oue-third In cash In
monopoly of business in the territory occupied by it, and for many years
was*
was able to control the traffic and make rates in that territory. The paid in scrip.and again iu May, 1887—t*li© balance of each coupon
*
Southern Pacific was afterwards built and was extended to New Or­
1836Mr.
Huntington
issued
a
ciroular
proposing
that
the
leans. taking much of the through business. The C. P. stock after pay­
B h°uds should have Interest reduced to 4 per cent aud the priuolpal
ing dividends for a few years ceased to pay after February, 1884, and extended
to
1936,
the
holders
receiving
a
bonus
of
25
per
cent
In
New­
declined heavily; in 1885 the road was leased, as above, to the So. Pac. port News A Miss. Valley Co’s stock; the holders of currency bonds to
Prom _T14.» I 1 to flnt Q1 1Qdd urnau natminnaVn 1 A?ftA milA.
J itn
surrender their bonds In exohange for 125 per cent In said stock. (See
V. 43, p. 152 aud 514.)
earnings for three months from Jan. 1,1887. $967,588, against
_________ 1report
$872,564; net, $2 47,299, against $253,891.
8
results as below.
The
annual
report for 1886 was in the C h r o n ic le , V. 44, p. 465.
Net income................................................................................. $6,657,398
Earnings aud expenses have been as follows siuoe 1884:
Total expenditures...................................................................... 5,175,864
, qqP ’
Gross Earnings. Op’g Expenses. Net Earn’gs.
..............................
$3,538,604
$2.499,744
$1,038.860
Bal. due Cent. Pa. RR. Co. under the lease, Ap. 1 to Dec. 31 $1.482,032
......................................
3,361,235
2,465,812
895,423
Add net earnings for Jan., Feb. and March, 1885.................. 1,301,832
..........................
4,096,0482,977,208
1,118,840'
Add dividends and interest........................................................
621,232
- <y
.
24=2, 303, 365. 3 9 3 ,4 8 5 , 548, 575, 691; V. 43?p.
Ti Total net receipts
...........
........................................ . $3,405,096 22, 152, 514, 671, 746; V. 44, p. 90, 91, 344, 4 6 5 , 551 )
V
Deduct—Gen 1expenses, taxes and betterments prior to Ap. 1 729 940
C h e s a p e a k e O h io Ac S o u t h w e s t e r n .—Owns from Elizabethtown
Interest on floating debt prior to April 1.............................
225 856
v/r”
V
a1
5
a
<
iScakT
t0
Memphis,
Teuu
,
352
miles;
leased,
Ceoilian
branoh
Interest on bonds prior to April 1 ...................... 850 674
Sinking funds and U. 8. requirements, paid by Cent." Pao
847.112 of L. A N., 47 miles. Total operated, 398 miles. This road forms the
Other charges.................................................. .......................
383 745 western connection of the Chesapeake A Ohio and the Lexlngtou A Big
Sandy. In Feb., 1886. leased to the Newport News A Mississippi Valley
Total charges .. . . . . . . . . . . . . .. . . . .
aq aq*.
Company for fifty years. The oompauy purchased the Memphis Paducah
Balance, surplus for year 1885
........................................... * « 7 ™
A Northern—Paducah to Memphis—and the Paducah A Elizabethtown.
—<V; 42. p. 148, 364, 574, 754, 7 8 1 ; V. 13, p. 737217,' 244 745• V 44
4 o ¥500,000 mortgage on the latter, aud leased In perpetuity
p. 59,118, 148, 400, 459, 553.)
’
’ v ’ 44’ the Ceoilian
Branoh of Louisville A Nashville, from Louisville to Cecllian
.
£F S a v a n n a h .-O w n s trom Savannah, Ga., to Charles­
AAAform?a0,’°i)0 p*r annum> with option of purchasing it for
ton Junction, 8. C., 104 miles; operates—Ashley River branches 4 milesTAe A®* mortgage bears 5 per cent till August, 1887, and
Charleston Junction to Charleston. 7 miles; total, 115 miles This was’ i QQ<716a?:eii’ Qi
2d mort. bonds $726,000 are ex-coupon to Aug.
fim the Chari. A 8av. RR.; reorganized in 1866 uuderuame ofSavlu lo87. Stock—Common, $6,030.000, and preferred, $3,696,000.
on, and opened March, 1870. Sold in foreclosure June I io0os4 earnings for ti reo mouths, Jan. l to March 31, were $422.005.
7iV*'8<8d*iaud present company organized. Stock, $500,000. In addl- lnJi887, a« a ast$369,899 in 1836; net, $159,«51, against $117,875.
The annual reports have shown:
*1
OOO OOl .d prat mooses.
r
a,re S1-000-000
Pref.
incomes net,
and
Sl.OOO
Earnings,
gross In 1st
1885,
$453,799;
„
.
1884.
1885.
1886.
Gross
earnings........... ....................$1,571,155 $1,713,326 $1,717,909
dent? Stow York?8 ’
' $182’8y5: aet, $ . 2,418. H. B. Plant, Presl*’ T ” i ........ .................... $339,951
$502,531
$656,525
021,180
631,920
674,620
NC c a rw tAeuvus?aa ? t.b lai o f i: A ® * “ » * «. — Owns from Charlotte, Interest, rentals, taxes, A c .. . . . . . .. .
datton (July 9. 1869H >ftK harhnte A 8 o u t ^ c S i n a t n t th^Co^unbfa

B > ^ e vl?lre- r ° ^ î 10 fr?m ? ouÎ k Ashburnham, Mass., to Beuews
Pettu-boro’ n
Monadnock Railroad, Winchendon to
reicrDoro, N H., 16 miles; and 10 miles Vermont
• tntui qa
miles ; but the Monadnock, 16 miles, is not included in the Cheshire
earnings,
leaving
64
miles
operated.
$51,000
rental
paid
to Vt A
aU interest and rentals, $74,681. iu 1854-85 gross ^arffin’o - s ' o « v r
°raroad’ CaPlta lstock-com m on?$53,300, and
cha^ s s i K J s a s f 7’ SOTeferiedle«o^donnAnn
o i l a ’ ^Qa^oi i Gross recelpts in 1884-85, $561,203; net,
ÏJ1 1885-80, gross $628,0,2; net, $234,43s ; surplus over
$45*410 m
in l8
8 4 a85 over a 3 per
dlvld®adon
pref. stock $29,711, against
1664-85
cent dividend.
from j S u a i 7 ri,Cl18%e,’
yea™
Æ ® *® ;
Hoad—Joliet to East St. Louis
lshW tAn
^ n 11011.?8 - 1 ?» C2al City* 30 mues; Dwight to
stock, $647,850?
S
earnings, $137.234; net, $45,556. Capital w
fTnoAr
U’ i80 miles; Roodhouse to Louisiana, 38 miles;
mme8’ . Total owned, 400 mUes. Leased—Chicago
CaÎw V ^ >
1ai : Bloomington to Godfrey, 150 miles; Louisiana
v i a ? ' T e n u r e ' m U e b r l i c i T c 0^ / ^ ? 6' t from GaUa« n to Scotts- to
to Cedar City, 101 miles; Kansas City to Mexico. 162 miles Total
the constructto^oft’l i N o r t t t Division
A? mi e8’
Leased, 450 miles. Total operated, Deo. 31,1886, 849 miles.
s tS o ffi^ ^
A <MissNIFtbI<27’ Vsu7E8’ 8 tock !
Bonds.—Chaptered’asthe Ohio.
President.
> °y a eucular of Eugene Zimmermann, the Phi « 8a lVorf at 2X’ y 847 ; reorganized under act of Jan. 21,1857, as
Chic. Alton St. A Louis, and under act of Feb. 16, 1861 the present
i ° the P™Perty. which was sold under fore?
October i s « ! f o h w f can? tr?n8ferred to new organization In
S m
i
t i. Chicago and St. Louis were connected by the present
T h ? ToUftt I houDnual meeting is held the first Monday In ApilL
.
& Chicago is leased from January 1. 1864 for the
t a s p s i s s a s pper
e r ccent
e n t ‘ on
on stock.
^
°Jacksonville
î tke ma^n'iine86
Rental!
The St. Louis
& Chicago
was7
C. A O., and extends to I^xtogten^Kj?^ cormect8 on the west with the leased In perpetuity from April 30, 1868, at a rental equal to *40 dot
ley:KRnc ò 1fc|6250y e ^ t o S s e h e i n * 11«6 NewpoF.fcNews * Miss. Val- m u m ^ /æ llo or(Wtnf 8^ tU th s ?LQOUnt ca ch ed $700,000, with a mini£ ea.r’ ^nd ^
company in 1884 was merged with
out obligation on the lessee“to
^ operating agreement with- Chicatro
„ T w ? T h f l t e ^ 14 its stock exchanged for C. A A. stock. (See V. 38,
The stocks includin^rinon?^™ *,erest if earnings aie deficient.
A ^ ° ’ Ri v®r, RR*i8 leased for 1,000 years. Rental,
1886: Common, $15 4§y ooS.°“ 8Ì 8? dli1e were as follows December 31, 3s1f er’
i^?Ang8’.bu* iuÎ ei'S?t gliaranteed on seoond mort$10,829,441. The ^cond i .m r ? ^ l i ? d8t0ckT iir8t’ ^,370,639; second! ga-'e bomls
nd
Prei- stock; the other pref. stock is $1,010,Interest in 2d pref. stock
‘? ^ Urrency t?oncls tm July, 1884, took aon6a
c°mmon $2,272,700; net rental in 1886, $186,279; surplus
partly cash,
^ k e partly in that stock and
^ floating debt; floating debt unpaid
r‘ aU interest not paid in cash
^ the earnings are sufficient, but ja n u a A l i s a - i i ’ o « k
?128,3 o'7. The Kansas City St. Louis A Chicago is
of first mortgage “ B ” bonds cÌnnntPft iL ? 2d
stock.” The holders
are in default. The mortgag * b o ^
coupons t a r i i 877h! ^ M go, * Alton company in perpetuity from Novemon road from Newport i S
to obi ¿ « w 2/ / 0r J3’000’000 are secured hftki’hi8 tt' a ^ r e ^ a lo f 35 per cent of gross earnings. The bonds are
, 8 J a u n t y f°r the Chicago A Alton
^ ork s; and on a branch to b l bffilMn wÌ«Ì Comfort.Va., and terminal b oL d s^ f11! ft7RT iflH,ïftH
1878 issued to build this road, and a sinking fund of
Ohio Riv. First pref. stock 1ms nrior r i X
'V ? ° m 8c&ry 9*eek to Ow S n f i n L
S,™
Provided for their redemption. Should the 35 per
- °r «Khtt > .» ..r e m surplus; then 2d
oent he more than sufficient to pa*- bend Interest and 7 per cent on




IN V E S T O R S ’
SUPPLEM EN T.
[V o l .
x u v

.




K A IL R O A D

M a y , 1887.]

STOCKS

AND

BONDS,

27

Subscriber« w ill confer a great favor by givin g Im m ediate notice o f any error discovered In tbese Tables*
DESCRIPTION.

Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
of
of
Par Outstanding
Rate per When Where Payable, and by Stocks—Last
Road.
Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
Chic. * Alton—( ContJ—Qen. M., st’g.,for £900,000 322 1873 $ 1,000 $4.379,850
6 g. J. & J Lond’n, J.S. Morgan&Co. July 1, 1903
220 1862
1,000
2,383,000
7
J. & J N. Y., John Patou A Co. Jan., 1893
1st mortgage.......-............. v - - - • .......................
38
Joliet A Chicago, 7 per cent, stock.......................
100
1,500,000
Q*—J.
1*
N. Y. U. S. Trust Co.
April, 1887
150 1864
Bt. Louis Jacksonville A Chic., 1st mortgage---1.000
2,365,000
7
A. & O. N. Y., John Patou A Co. April. 1894
do
do
1st M. end. by Chic.* Altoi
37 1864
1.000
564.000
7
A. & O.
April 1.1 89 4
do
do
2d M. endorsed by C. & A.
37 1868
1,000
188,000
7
J. A J.
July, 1898
150 1868
do
do
2d mortgage (convertible)
1,000
44,000
7
J. A J.
July, 1898
101 1870
La. * Mo., 1st M. ($439,100 assumed by C. & A.)
1,000
1,785,000
F. A A.
7
do
do
Aug.,
1900
101 1877
do
2d M. (int. guar. C. A A .).......................
1,000
300,000
7
M. & N.
do
do
Nov. 1, 1900
do
guar. oref. stook..................... - ..........
100
329.100
3*fl F. A A.
do
do
Feb. 1, 1887
Bonds for K.C.8t.L.A C. (1st mort. as collateral). 162 1878
1,000
2,492,000
6 g. M. A N.
do
do
May 1, 1903
Preferred stock,K. C. St. L. & C., guar. C. A A .... . . . .
....
100
1,750,000
1*9
do
do
Q -F .
May 1, 1887
....
....
Common stook
do
271,700
3*fl
Ohio.. III. Tr. A Sav. Bk. May 1, 1880
Mississippi Riv. Bridge st’k (7 p. o. guar, by C.&A.) ••••
300,000
7
Ohio., Treasurer’s Office
In 1886
C. A A. bonds on Miss. Riv. Bridge, 1st mort., gold
1877
l ’. òoo
665,000
6
A. A O. N. Y., Johu Patou A Co. Oct. 1, 1912
Chicago <t Atlantic—1st mort., gold, $ or £ .............. 249 1881
1,000
6,500,000
6 g. M. A N. Last paid May 1 , 1884 Nov. 1, 1920
249 1883
2d mortgage (for $ 5 ,0 0 0 ,0 0 0 )...................
1,000
2,500,000
None paid.
Aug. 1,1923
6 «• F. & A.
360
Chicago Burlington rf Northern.—S to ck .......
100
9,000,000
360 1886 500 &o.
1st mort., redeemable at 105 and aocum. int
9,000,000
5
A. & O. Bost., Mordi. Nat. Bank April 1, 1920
1886
1,00 )
Ten-year debentures ($-’,250,000)................
2,000,000
6
J. & D.
Dec. 1, 1896
Chicago Burlington <t (¿uiticy—Stook...............
3,322
100 70,380.525
2
Q.—M. Boston aud New York. Mar. 15, 1887
Consolidated mortgage coupon, (for $30,000,000) 825 1873
1,000 13,986,000
7
J. & J. N. Y., Bk. of Commerce. July 1, 1903
Trust mort.onlowa lines,ooup.or reg.(s.f. l*9P.o.) 787 1879
1,000 12,302,000 4& 5 A. & O.
Oct. 1, 1919
Bonds Denver exten. 4s, (sink.fund2 percent)... •••• 1882
1,000
7,968,000
4
F. A A.
Feb. 1, 1922
••••
Bonds for Bur. A 8. W. road (s. f. 1 p. c.)...............
1881
1,000
4,300,000
4
M. A S.
do
dò
Sept.
1, 1921
Debenture bonds for Han. A St. Jo. stock ............
1883
1,000
9,000,157
5
M. & N.
May 1, 1913
Northern Cross R. R. 2d. mortgage, g old .............
Ï 00 1860
....
391,000
4 g. J. A J.
July 1, 1890
Frankfort.
Trust mortgage (Burlington to Peoria)..................
96 1864
653,000
7
A. & O. N.Y., N. Bk. of Com’roe. Oct. 1, 1890
Plain bonds (coupon or registered)........................
1872
1,0*00
547,500
7
J. A J. Boston, Co.’s office.
Jan. 1, 1896
Sink fund bonds (for Albia Knoxv. A D. M. road). "33 1875
1,000
379,000
5
J. A D.
June 1,, 1895
Nebraska extension sink’g f d b’ds, coup, and reg.
1887 1,OOOAc 12,000,000
4
M. & N.
May 1, 1927
Dixon Peoria A Hannibal, 1st. Ì Coup., out may 1 *40 1869 1500 <Sto.
545,500
8
J. & J.
July 1, 1889
70 1870 1 1,000
Ottawa OswegoA Fox Riv., 1st J be registered, j
1.076.000
8
J. A J. New York and Boston. July 1, 1900
s so go 6o 6ue leasees, j. no Mississippi jtuver isriage
t m e a g o B u r lin g t o n dc liu t n c y . —L ine of R oad .—Thd C. B. &
is leased in perpetuity____
fromM
December 3,1877, at a rental equal to 7 per '*• is ot;“ of the most complex railroad systems in the U. S. It has a net­
cent on $300,000 stock and 6 per cent on $700,000 bonds.
work of lines in 111., Iowa and Neb. The main line extends from Chic.*
The Chic. A Alton preferred stook has prior right to a non-cumulative 111., to Burlington, Iowa, 204 miles, and thence to Pacific Junotiou, 276
divi dend not exceeding 7 per ot. from net earnings, and (after payment miles, and from Pacific Junction to Denver. Col., 577 miles,making the
of 7 on oouimon) also shares with common in any surplus. Prices of distance from Chicago to Denver 1,057 miles. From Pacific Junotion
stock have been as follows: Preferred in 1881, 140® 153; in 1882, to Council Bluffs is 18 miles (track used joiutly with K. C. St. Jo. & 0.
130® 146; in 1883,140®
1309146;
1883, 140® 150; in 1884,142®152;
1884, 142®152; in 1885,
1885,147S155;
1479155; in B.), making the C. B. A Q. line, Chicago to Council Bluffs, 498 miles.
ft 1 ÌIO • in
in 1887
100 7 to
In May
Man 20,
0/1 1559162. On».»..«
1886, 1509162;
Common 1«
in -ion.
1881, The Extens. to Denver was opened May, 1882. Besides numerous looa.
1279156; in 1882,127*9*145*9; in 1883, 1289137*4 ; in 1884,118® roads the company also has its line in Illinois to East St. Louis, and to
140*4; in 1885,1289140; in ’86, 138® 146; in ’87 to May 20,1439155.
noZ’ ™nn? # !» S wlth the Hannibal & St. Joseph road (purohased by
Dividends were as follows: prior to the current y ea r: In 1877, both tfalak
® i**ln J-Ö83) across Missouri to St. Joseph. The mileage reportea
Stocks, 7*a; in 1878, both 7 ; in 1879, preferred 7, oommon 6 ; in 1880, at+ the
close of 1886 was 4,036, ot which 122 miles were leased or oper­
prof. 7, com. 6 *9 ; in 1881 both 8 ; in 1882 both 8 ; in 1883 both 8 ; in
with other companies. In addition to this the company con­
1884, botn 10; in 1885 and in 1886, both 8, the periods being ohanged ated
trols
and
largely owns the St. Louis Keokuk A N. W. road, 181% miles :
from semi-annual to quarterly in May, 1884.
the Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago
Operations and F inances .—The Chicago & Alton road has been par­ Burlington
& Kansas City, 153 mUes; the St. Joseph A Des Moines, 50
ticularly strong in having a large local business between Chicago and miles; and a
half-interest with Wabash in the Huineston A Shenandoah
Bt. Louis, so that it was less dependent on through business, which is road, 113 miles.
The road to St. Paul is the Chic. Bur. A Northern.
done at competitive rates. Its leased lines are as completely controlled
as if owned, and the system is compact.
* 9" was a consolidation in 1856 of the
4£e Cei*C Military^ Track railroads, and purchased
Operations, earnings, Ao., have been as follows for four years past.
Fiscal year ends Deo. 31. Annual report for 1886 was in Y. 44, p. 307. In 1860 the Northern Cross RR. and in 1862 the Peoria & Oquawka road.
The present company was a consolidation In January, 1875, of the
OPERATIONS AND FISCAL RESULTS.
Chicago Burlington A Qulnoy in Illinois and the Burlington A Missouri
Operations—
1883.
1884.
1885.
18a6
River In Iowa. In 1880 the Burlington & Missouri in Nebraska
Passengers carried..
1,805,140 1,907,486
1,721,286
1,735 519 was absorbed. The leased lines are practically owned and there
Passenger mileage .. 106,028,676 119,946,417 109,078,875 114,250 157 Is no charge for rentals in the income acoouut, except as interest on
Rate $ pass. $ mile. 2-141 cts. 1-899 eta.
2-025 cts
2 022 ots
J
ownership in the other roads above-mentioned is in the
Freight (tons) moved 3,488,496 3,598,284
3,631,108 3.651.100 l i
and their accounts are kept separate. In
Fr’ght(tns) mileage* 549,369,534 602,768,054 538,522,498 560.824 279
F a ! ’ r he
Q* purchased the common stook of the
Av.rate
1 -19Q cts
11-007
•nn'7 at.
.nna .ots.
..
/i.r,
. , ’ cts.
Av. rate $ ton W
$ mile. 1-128
cts. 11-009
0*961,
ItaM
n
n
n
RR.,
and part of the pref. stook and paid with
Earnings—
$
$
$
its $9,000,000 of 5 per cent bonds at par. In August, 1885, the agree$
Passenger................
2,270,379
2,278,429
2,209,502
2,311,041 ment was made witn the Chic. Bur. & No. for rhe line to St Pm l •»mi
Freight.....................
6,197,681
6,073,675
5,392,i > 5 9
5,432,633
Mail, express, Ao___
342,550
S vy .0 41,
« « p.
* 160.
A ‘" The
K Sfiscal
Y 1? year
0'000ends
» ' , « Dee.
«
'Ä
357,170
351.034
3 7,539 m
31. »Annual
election in April.
Total gross earnings 8,810,610 8,709,274
7,993,189
8,060,6-19
AN?
B
onds.—The stook has been rapidly Increased for the
Op. exp. (incl. taxes) 5,097,032
5,133,790 4,612,847 4,650,955 ap9ui«itiou of new lines, and in 1880 a distribution of 20 per cent In
Net earnings...........
8,713,578
3,575,484' 3,380,322
3,409 684 stock was made. Dividends have b een : In 1877 9 rwvr nnnt • in
P.o.of- op.exp.
to earn
57-85
58-94
. — - ----------57-70
57-70 1878,101a; In 1879.8; in 1880, 9*4 cash and 20 s t o c k e n T s « i in
Does not inolude company’s freight.
1882, in L883, in 1884, in 1885 and in 188 f, 8 paid. The prloes of stock
have been; In 1881, 133*a9182*2; in 1682,120*a® 141; in118-<3 115%.®
INCOME ACCOUNT.
„
.
1883.
1884.
1885.
1 4 ? ! » V k V "to'M w 2®' I S V i l M 83,
>« !8>6.
1880.
Receipts—
$
$
$
$
Net earnings............
3,713,578
3,575,484 3,380,322
3,409,684
Other receipts..........
284,773
278,818 __ 272,845
282,654
^
^ Council Bluffs and branches was purchased
_ Total. . . . . . . .
3,998,351
3,854,302 3,653,167
3,692,338 (254 nules), and the Chic. Burl. A Q. stock issued therefor at $125 per
Disbursements—
$
share, taking the St. Jo. stook at $7250 per share. Enough of the 0. B.
$
$
Rentals paid............
1,208,277
823,565
704Ì473
701,777 SiSiio0? 8?o/?oted mort&age is reserved to take up prior debts. The
C mstruo’n,equip., Ao
740,759
292,221
380,702
254,134 bonds of 1876 are secured by mortgage bonds of like amount on st
Interest on debt.......
700,544
770,683
839,307
836,381 Louis Rock Island & Chicago road deposited with trustees. The collateral,
Dividends.................
1,194,184
1,646,840
1,409,750
1,407,224 trust extension bonds of 1887 are issued at $20,000 per mile for sinxle
Miscellaneous...........
86,963
88.263
93.854
102,116 track and $10,0u0 per mile additional for second track.
Total disbursem’ts 3,930,727 3,621,572 3,428,086 3,301,632
were obtained by the consolidations with
Balance, surplus....
67,624
Burlington & Missouri in Iowa and Burlington A Missouri in Nebraska
-<V . 42’, P. $707 v: 44, p. 275: 30 7 , 3272)73°
225*°81
390’ 706 ,Ia I » ™ «niy 12,000 acres remain unsold, and fee oontracte outsfend*

ä

Ä

^

. ,0 iSir27i||g'

? ^ Ä r 6Ä f o 1i !9 ’849, mU” ld L“ dS- 8 l’00<>
ÖPERATiöNS AND F inanoes.—The Chicago Burlington A Oulnev Rail.
F®ad ^as been one of the most profitable in the country, as its numerous
Ä
tributary to the main line were built into choice agricultural
territory,.where they enjoyed a monopoly of the local business at full
^ ^ ^ « c o m n a u y gives no full traific Ita tisticsiritsrep orta n d th e

irnifomnt artiSe carrE/ a886nger818 “ 0t kn° Wn; but 00rn is tbe most

cent gold, g S n f e e i b y N yT e a w “ wUi b£, $12 ,000,000 at 4 ’per
to beheld by that com pad/; fe e r ^ w iU a te o ^ f^ l^ o o o ^ n n °;f l t0cb

auspices as plr
® V T lete? Au% l8S6’ under Chicago B A Q
160). The Chic B & o anrt
} ’ 1885Chronicle, v . 41, pi
twenty years of one-half nf t h S a f i i l . » ? S*^e ? trafiic guarantee for
and from the C. B. & N to ho
^rom business to
puroliase of C. B. & N bon^6* * ^ ^ 88 th an$i00,000 per year, for the
be retired at 105 AnV
aFd after 1896 the bonds may all
mile, and shall provide tha“ '
a 6 iimit« d to $10,0007 per
amount equal to the nriucinai4 nf fh* ^®uds issued thereunuer, an
shall be reserved and aiinlied mUtrtn
debentures *bea outstanding
from Jan. 1 to Maron 3? ™ re ^ l)2i 5o £ Payment. The gross earnings
43, p. 125, 217, 308, 334, 510?6iS?)1'503 ’ 4 earulug8, $185,843. (V.




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

1883.
3,224
98

1884.
3,369
98

1885.
3,534
113

1886.
3,914
122

Total operated..

3,322

3,467

3,647

4,036

Ramings—
Passenger................
Freight...... ....... .
Mail, express, &o
Total gross earnings
Oper. exp. & taxes..

1883.
1884.
1885.
1886.
$
s «
$
$
5,285,839
5,339,866
5,286,407
5,631,261
19,514,161 18.514,432 19,565,854 19,307,V35
1,310,369
1,629,315
1,704,164 1,727,212
26,110,309
267556^425 26,728 4^8
13,496,479 14,090,745 14,405|768 14,491,683

Net earnings............ 12,613,890
P.C. of op.ex. to earn
51-7

11,392,868
55-3

12,150,657 12,236 725
54-25
54-22

« 8

INVESTORS’

SUPPLEMENT.

V ol . XLIV.

Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered in these Tables,
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due»
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
I
Rate
perl
Par Outstanding
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Chicago Burlington A Quincy—( Continued)—
Illinois Grand Trunk, 1st mort l Coup., but may \
Quincy & Warsaw. 1st mort . . j be legis ered. j
S. fund bonds (St. L. R. I. & Chic. mort, collât.)...
Quincy Alton & St. Louis, 1st mortgage, guar.......
Burl.&Mo. Riv., 1st on r’d &400.000 acres land)..
do 1st M. oonv. bonds, (5th & 6th series)
Bun. & Mo. consol.M.for $14,000,000, s.f. $30,000
do
Omaha & S-Sy., 1st M., guar................
BurL & Mo. bonds, s. f. for Atch. & Neb. RR. stock
Nebraska consol, mort., gtiar............... ................
Republican Valley RR., sink, fund bond s............
Atchison & Nebraska. 1st mortgage......................
Lincoln & Northwestern RR. bonds.......................
Kansas City St. Jo. & C. Bl., m ortgage.................
Chicago A Canada Southern—1st mort., gold..........
Chic. Detroit A Canada Or. Trunk Junction—1st M.
Chic. A East. III.—Stock........................................—
1st M., coup. (s. f. $20.000 after '8 5 ).....................
2d mort, income (non-cumu.) conv. into consol...
Consol, mort., gold (for $6,000,000).......................
C. A E. 111. Extension, 1st mortgage......................
Dan. & Grape Creek RR.—1st mortgage...............
Chicago A Or. Trunk—1st M., $ A £ ($594,500 res’d)
2d mort......................................................................
Northwest. Grand Trunk, 1st mort......................
Chicago A Great Western—1st mort., gold................
Chicago A Indiana Coal—1st mortgage...................
Chicago A Iowa—1st mort., coup., may be reg.......
2d mortgage..............................................................
1st mortgage C. R. & N............................................
2d mortgage C. R. & N.............................................

$890.500
44 1870 $500&c.
1,000
720,000
40 1870
2,325,000
1,000
270 1876
1,000
840,000
46 1876
4,170,550
50 &c.
281 1863
224,500
40 ’69-’70 500 &c.
191 1878 600 &c. 12,858,000
669.000
1,000
49 1871
3,347,000
1880
1,000
385,000
1,000
133 1877
1,078,000
1,000
148 1879
1.125,000
149 1878 100&C.
600,000
72 1880
5,000,000
274 1877 100&C.
2,541,000
1,00U
87 1872
1,095,000
100
59 1864
3,000,000
100
246
3.000,000
116 1877 100 Ac.
74,000
116 1877 100 &c.
1,000
2,748,000
208 1884
3,000
131,000
15 1881
7 1880
121,000
i;ooo
5,405,500
330 1880 £100 Ac
1,000
6,000,000
330 1882
594,500
66 1830
4,000,000
1,000
10 1886
3,689,000
1,000
145 1886
1,000
600,000
80 1870
1,150,000
1,000
80 1871
1 975
250,000
15OÌO0O
.... 1875
1

8
8
5
5
7
8
6
8
4
7
6
7
7
7
7 g.
6
3
6
7
6 g6
6
6 g.
5
6
5 g.
5
8
8
8

8

A. & O. Boston, C. B. & Q Office Oct. 1, 1890
J. & J. N. Y., N. Bk.of Comm’rce July 1, 1890
Oct. 1, 1901
A. & O. Boston, Co.’s Office.
F. & A. N.Y.,Farmers’ L.&T.Co. Feb. 1, 1896
Oct. 1, 1893
A & O. Boston, Co.’s Office.
1889 & 1894
do
do
J. & J.
July 1, 1918
do
do
J. & J.
June 1, 1896
J. <fe D.
do
do
j . & j . Boston, N. E. Trust Co. Jan. 1, 1910
Oct. 1, 1896
A. & 0. Boston, Co.’s Office.
Jan. 1, 1919
do
do
J & J.
Mar. 1, 1908
do
do
M. & 8.
J. & J. Boston and New York. Jan. 1, 1910
Jan. 1, 1907
do
do
J. A J.
April 1, 1902
A. & O.
July 1, 1884
London, England.
J. A J.
March
1,1887
N.
Y.,
Central
Trust
Co.
M. & 8.
J. & D. New York, 4th Nat. Bk. Dec. 1, 1907
Dec.
1,
1907
N.
Y.,
Central
Trust
Co.
Dec.
Oct. 1,1934
do
do
A. & 0.
Dec.
1,
1931
New
York,
4th
Nat.
Bk.
J. & D.
M. & N. Boston, Globe Nat. Bk. Mav 1, 1920
Jan.
1,
1900
New
York
and
London.
J. & J.
Jan., 1922
do
do
J. & J.
Jan.
1,
1910
N.Y..
E.P.Beach.B’way.
J. & J.
June 1, 1936
New York Office.
J. & D.
Jan.
1,
1936
1
N.
Y..
Met.
Trust
Co.
J. & J.
J. & J. |New York and Boston. Jan. 1, 1900
Aug.
1,
1901
do
do
J. & J.
July 1, 1895
A. & O.
Oct. 1, 1895
A. & O.
...............
1

$18,000 per mile for a single track road acquired; and $8,000 additional,
INCOME ACCOUNT.
for double track, and $7,000 per mile for equipment. The stock author­
1886.
1885.
1884.
1893.
ized is $6,000,000 common and $4,000,000 preferred of which $2.197.$
$
Receipts—
$
$
800 com. and $1,465,200 pref. has been issued. H. H. Porter President.
12,236,725
12,150,637
Net earnings............ 12,613,890 11,392,868
(V. 42. p. 242, 430. 487,775; V. 43, p. 66, 516,658; V. 44, p. 458,
615,342
592.432
566,769
324,180
Interest and exch ..
494.
495.)
846,771
985,796
1,129,591
1,595,788
Net B. A M. I’d gr’t..
C h ic a g o Sc I o w a . - Owns from Aurora, III., to Foreston, 111., 80
Total Income........ 14,533,858 13,089,228 13,728.885 13,698,838 mites; leased, Flagg Centre to Rickford. 24 miles; total operated, 104
miles. Chartered in 1869 and opened in 1872. In hands o f a Receiver
$
$
$
Disbursements—
153,215 Gross earnings for year ending Deo. 31* 1885, were $491,046; net, $198,
187,171
139,604
_______
....... I
144,506
Rentals paid
4,391,004 562. Gross earnings in 1884, $552,080; net, $188,759. Capital stock,
4,294,263
4,304,284
Interest on debt........
4,093,005
6,110,722 $1,428,000. This road is controlled by the Chicago Burlington &
Dividends..................
5,566,484 5,566.580 6,110,572
8
8
8
Quincy and is used to connect with the Illinois Central.
Rate of dividends. . .
8
670,295
646,430
C h ic a g o M ilw a u k e e Sc S t . P a u l.—(See I f a».)—L in e of R oad .—
938,064
Carried to sink’g Pd.
646,430
1,000,000 The company operates a great consolidated system of railroads in Illinois,
1, 000.000
500,000
Transf’d to ren’al f ’d.
1,500,000
Wisconsin, Minnesota, Iowa and Dakota, which are well shown on the
Total disbursements 11,950,425 11,448,532 12,238,436 12,325,236 accompanying
map. The main through lines are from Chicago to Mil­
■Balance,surplus......
1,640.696
1,490,449
1,373,602
2,583,433
Balance,surplus......
85 miles; Milwaukee to St. Paul and Minneapolis, via La Crosse,
—(V. 42, p. 60, 387, 447, 506, 516, 631; V. 43, p. 66,162, 256, 274; V. waukee,
341
miles;
Milwaukee
to Prairie du Chien, 194 miles; McGregor (oppo­
44, p. 59, 90, 211, 343, 415, 4 3 2 , 466, 518, 525.)
Chicago Sc Canada Sou th ern .—Owns from Grosse Isle, Mioh., to site Prairie da Chien) to Chamberlain, Dak., on the Missouri River. 442
miles;
Chicago,
via
Savanna,
on the Mississippi River, to Council Buffi,
Fayette, O., 67 miles. On Nov. 1,1879, it was transferred to the Lake
Shore & Michigan So. It has a capital stock amounting to $2,667,400 la., 487 miles; Minneapolis to Aberdeen. Dak., 288 miles. On Dec 31,
1886,
the
mileage
in
Illinois
was
313; in Wisconsin, 1,231; in Iowa, 1,511;
and a bonded debt of $2,541,000, and owes $2,223,051 overdue ooupons.
Original cost, $5,176,557. It is a part of a projected line between CM- In Minnesota, 1,1171; in Missouri, 12; in Dakota, 1,114. Total miles oper­
ated,
5,298;
in
eluding
Fargo
A
South, road, 117 miles, Fargo, Dak., to
oago and Detroit River, but failed in 1873. Gross earnings in 1885,
$40,974, def. under operating expenses, $19,601. On October 23,1886, Ortonville, Minn., acquired In July, 1885.
O
rganization
,
A
c
—The
Milw.
A St. Paul RR. Co. was organized May
a suit in foreclosure was beguu. (V. 43, p. 515.)
Chicago D etroit Sc Canada G rand J u n ctio n .—Owns from 5,1863, and embraced a number of other companies, including the Mil­
waukee
&
Miss.,
the
Prairie
du
Chien,
the Lacrosse & Milwaukee, and
Port Huron, Mich., to Detroit Junction, 59 miles. Opened in 1859.
Leased to Grand Trunk of Canada. Earnings in 1886, $237,045; net, others. The Milwaukee A St. Paul afterward purchased the St. Paul A
Chicago
Road
and
others,
and
built
the
line from Milwaukee to Chicago,
$32,128; paid interest, $65,700, and dividends, semi-annually, each 2
per cent, $43,800; defloit, $77,371, advanoed by lessees. Capital stock, and on February 11,1874, the company took its present name. The
The
flsoal
year
ends
Dec.
31.
The
annual
meeting is held early in Jime.
$1,095,000. There is also a 5 per cent bond for $691,141 issued to G.
Stocks and B onds.—The preferred stock has a prior right oyer the
T. RR. Co. The road is owned by the lessees.
common
stock
to
a
dividend
of
not
over
7 p. o. from net earnings in
Chicago Sc Eastern Illin o is .—Owns from Dolton, 111., to Dan­
ville, 111., 107*2 miles; Covington, Ind., to Coal Creek, Ind.. 9 miles; each year, bat if not earned it has no cumulative right. If a dividend,
was
earned
in
any
year
and
not
paid,
there
might be a claim on future
Danville toSidell’s, 22 miles; leased, Dolton to Chicago (C. & W. I.), 16
miles; Wellington Junction to Cisua Park, 13 miles; Evansville Terre years for such dividend. After payment of 7 on pref. and 7 on com.,
both
classes
share
pro
rata.
Dividends
paid
since 1873 have been as
Haute & C. RR.,Terre Haute to Danville, 111., 55 miles; Otter Creek to
(prior to current year): In 1874, 7 on preferred paid in consol,
Brazil, Ind., 13 miles; Danville, 111., to Covington, Ind., 13 miles; follows
bonds;
in
1875
no
dividend;
in
1876,
3*2
cash
on preferred and 14 per
total operated, 246 miles. The leases of 17 miles, Dolton to Chicago,
and 13 miles, Danville to Covington, are contracts for use of track over cent in bonds; in 1877, 3*2 on preferred; in 1878,10*3 on preferred; In
1879,
2*3
on
common
and
7
on
preferred;
in
1880,1881,1882.1883
and
ether roads. The Evansville T. H. & Chicago was leased May 1. 1880.
The Chicago A East Illinois was chartered as Chicago Danville & 1884, 7 on both; in 1885, 4 on common and 7 on preferred; in 1886, 5 on
common
and
7
on
preferred.
»
.
.
0_
0
_
Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclos­
The range in prices ot stocks since 1877 have been: Pref. in 1878,64®
ure Feb. 7, 1877, and reorganized under existing style Sept. 1,1877. 84%:
in
1879.
7438*102%
;
in
1880,
99®124*e;
in
18
8
1,116%®140;
in
A oonsol. mortgage for $6,000,000 was authorized, of which $3,425,000
Is held to retire prior issues. Under the terms of leases the C. & E. 111. 1882,114*2® 144%; in 1883,115@122%; in 1884, 9o78®119: m 1885,
102*125; in 1886, 116*125%; in 1887 to May 20, 117%@127%.
guarantees interest on $1,515,000 bonds of leased roads.
1878, 27*2*54«%; in 1879, 3438*32%; in 1380, 66% *
In April, 1887, a sale was made of nearly the whole stock of this com­ Common-In
114%; in 1881, 101*33129%; in 1882, 96*33128%; in 1883.91% ®
pany at 110 to parties interested in the Chicago A Indiana Coal Rail- 108*3;
in
1884,
58%394%; in 1885, 6 4 % @ 9 9 ;in 1886, 82!%399; m
'WHiy» Sco V.
p, 453.
to May 20, 85%@95.
_
^
.
Tne annual report for the flsoal year ending June 30,1886, was in the 1887
Of
the
consolidated
mortgage bonds of 1875, enough were reserved to
CHRONICLE, V. 43, p. 430.
take up the prior bonds; these bonds may he stamped and discharged
TVdAUD i/ViAmiT
1885-86 from the sinking fund provisions. The Chicago & Pacific Western
1884-85.
1883-84.
1882-83.
Division bonds are issued at $20,000 per mile on new lines built or ao$
$
$
R eceiptslf724*584 auired. The Iowa & Minn. Div. bonds are convertible mto preferred
1,759,132 1,560,320 1,600,143
stock. The terminal bonds issued in 1884 are secured by mortgage on
811,831 the terminal property in Chicago and Milwaukee, subject to the lien
644,598
662,959
770,190
Disbursements—
the general mortgage on part of the track and terminals in these
211,512 of
212,427
188,750
199,668
cities; but it covers also property quite detached which oost about
33ri,690 $3,000,000
301,410
263,731
263,774
acquired some time after the general mort. was made; also
75,000 property to be acquired as needed to amount of $3,600,000 and
Dividends (2*3per cent)..
4,595 depot in Milwaukee costiug $1,000,000. The Income bonds of 1886
27,780
2 Ì ‘-i87
13,862
Miscellaneous....................
are for an authorized issue of $5,000,000, and are convertible into
541,617
473,818
Total disbursements.. 477,104
common stock, on notioe, 60 days after any dividend day. They
102,981
189,141
292,886
have a sinking fund of 4 per cent, beginning in 1899. and may­
v. 4-6, p. 1-64, Zla, 6 /i; V. 40, p. IU6, 093,
V. ****, Pbe drawn at 105. After '88. if a majority o f the bondholders so request,
Chicago Sc G rand T r u n k .- Line of road from Port Huron, Mich., a 2d mortgage shall be made on the line, Chioago to Kansas City,
to Chicago, 330*2 miles; also uses 4*a miles of Chicago & West. Indiana and a first oa the Mo. River bridge and terminals in Kansas City.
and 4 miles Grand Trunk Junction RR.; total operated. 339 miles. This In addition to abave bonds there are $89,003 Hastings A Dak. 7s, due
is a consolidation of roads between Port Huron and Chicago formed in in 1902, and $35,000 Oshkosh & Miss. River 8s. due in 1891; also
April, 1880, under the control of the Gr. Trunk of Canada. It includes $275,000 5 per cent real estate mortgages due in 1890 and 1894.
the former Port Hur-m A Lake Michigan and the Peninsula roads, sold in
Operations , Finances, Ac.—The mileage and also the stock and dent
foreclosure. 8too*,, $6,600,000 in $100 shares. The Grand Trunk of of this company increased very rapidly in six years, the miles owned
Canada gives a '¿raffle guarantee of 30 per cent of gross earnings on being 2,359 on January 1,1880, against 5,298 on January 1.1887, and
business to and from the Chicago & Grand Trunk Roau. Gross earnings the snook and bonded debt, in round figures, $69,000,000 on January 1,
from Jan. 1 to March 31 were $162,601 in 1887, against $141,180 in 1880, against $164,118,161 January 1,1887.
___
1886; net, $38,136, against $21,^04. Gross earning- for 1885. $2,881,The annual report for 1886 was in V. 44, p. 399. The statistics in
220; net, $385,553. In 1886, gross earnings, $3,041,000; net, $685,000. detail were given in the Ch ro nicle , as follow s:
(V. 44, p. 400.)
operations and f is c a l r esu lt s
Chicago Sc G re a t W e s t e r n .—Owns a double-track road entering
1883.
1884.
1885.
1886.
Chicago from the west, and terminating at Polk st., east of the Chicago Miles operated..........
4,760
4,804
4,921
5,298
River, with large terminal property. The interest ou 1st mort. bonds is
guaranteed by the Wisconsin Central and its allied lines, which enter pMsengeriTcarried
4,591,232 4,904,678
4,919,187 5,481,400
Chicago over this road.
_ .
Passenfermileage... 235,579,660 225,851,443 214,550,187 234,444,700
Chicago Sc In dian a Coal.——ineof road, Brazil to La Crosse, Ind., n
ai-A
nA
i*
'nA
R
R
t> toIIa
2*52
ots.
2*55
cfcs.
2 06 cts.
2 42 ctS*
145 miles. In April, 1887, leased 18 miles of the Chic. & West Mich, Freight (tons) moved.
5,661,667 6,023,016 6,492,369 _
*85,072
road, La Crosse to New Buffalo. This company acquired at foreolos-; Freight (tons) mil’ge. 1176605032
1247737233
13377214o3
1486509713
nrft the form or Ohio. & Great Southern. The 1st mort. bonds authorized Av. rate p. tonp. mile.
1*39
cts.
1-29
cts.
1'28
cts.
1
1 7 cts.
are $1,000,000 for the fine between Yeddo and Brazil, 42 wiles




39
RAILROAD STOCKS AND BONDS.



30

INVESTORS’

SUPPLEMENT.

[V o l . X L IV ,

Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
Bonds—Princi DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Rate per When Where Payable and by pal,When
For explanation of qplumn headings, Ac., see notes of
par Outstanding
of
Stocks—Last
on first page of tables.
Road. Bonds. Value.
Cent. Pay’ble
Whom.
Dividend.
Chicago Milwaukee & tit. Paul—Com. stock.
Preferred st'ck (7 p. c. y’rly, not cumulative)........
Consolidated mortgage (for $35,000,000)..
1st mort. (Lacrosse D iv .)...........................
1st mort. (la. AM.) .....................................
1st mortgage (Minnesota Centfal)............. c3 oo
1st mortgage (Iowa & Dakota)...............
1st M.,1a.AD ale.Ex t.($15,000 p.m.)........ .
1st mortgage (Prairiè du Chien)................ S®
2d mortgage (Prairie du Chien)................
Milwaukee "A Western.................................. P<
Bt.P.&C.lst M.(Riv. b.)$A£(conv.)______ 3 &
1st M., Chic. & Mil. line .............................
Bonds on Lac’se &Dav. Div., for Dav. & Nw. RR.
1st mort, on S. W. Div. Western Union RR.
1st morti on Chic. & Pac. Div., Chic, to Miss. Riv..
1st mort, on So. Minnesota Div. ($9,000,000)___
Land grant income bonds.............................
1st M. onHast.& Dak. Div. extens.($ 15,000 p.m.)
1st M. on Ch. Cl. D. A M...............................
1st mort. on Wisconsin Valley RR.............
Prior mort.
do
.............
1st mortgage, Mineral Point Division........
1st mortgage Chic. & Lake Superior Div.,..
1st M.Wis. & Minn. Div. ($20,000 p. in .)...
1st M., gold,on Chic. & Pac.,W”. Div., $20,000 p. m.
Chic. & Mo. Rlv. Div., lstmortg., ($20,000 p. m .).
Income ponds convertible............................
Terminal mort., gold, coup. orreg.(for $5,000,000)
Fargo & Southern, 1st mortgage, gold, assumed..
do
incomes.............................
Dakota & Gt. South'n, 1st, gold ($18,000 per m .).

5,298
5,298
1,435
370
230
49
126
234
195
195
130
85
185
212
119
419
417
372
107
107
142
68
230
1,105
77
ÎÏ9

....

$100 $30,904,261
100 21,555,900
1875
1,000 11,470.000
1863
1,000
5,26 A,000
1.000
1867
3,198,000
1864
1,000
123,000
1,000
1869
541,000
1,000
1878
3,505,000
1,000
1868
3,674,000
1,000
1868
1,241,000
1861
1.000
215,000
1872 500 Ac.
3,804,500
1873
1.000
2,393,000
1879
2,500,000
1879
1,000
4,000,000
1,000
1880
3,000,000
1880
1,000
7,432,000
1880
1,437,000
1880-6 1,000
6,265,000
1880
1,000
6,576.000
1880
....
1,669,000
500
1879
1,106,500
1,000
1880
2,840,000
1,000
1881
1,360,000
1,000
1881
4,755,000
1,000 24,400,000
1881
1,000
1886
2,049,000
1886
1.000
2,00 •,000
1884
1,000
4,303,000
1883
1,000
1,250,000
1885
200,000
1886
1,000
988,000

2*3
3*fl
7
7
7
7
7
7
8
7*3
7
7 g.
7
5
6
6
6
7
7 &5
6
6
7
5
5
5 g5 g.
5
5
5
6 g.
6
5 g-

A.
A.
J.
.1.
J.
J.
J.
J.
F.
F.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
.1.
J.
J.
J.
J.
J.
J.
A.
J.

A O.
New York, Office.
do
A O.
do
do
A J.
do
<fe J.
do
do
A J.
do
do
do
A J.
do
A J.
do
do
A J.
do
do
A A.
do
do
A A.
do
do
A J.
do
do
A J. London and New York.
A J.
New York, Office.
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
Boston.
A J.
New York. Office.
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A J.
do
do
A 0.
do
do
A J.
do
do

Apr. 15, 1887
Apr. 15, 1887
July 1, 1905
1893
July, 1897
1894
1899
July 1, 1908
1898
1898
1891
Jan., 1902
1903
1919
July 1, 1909
Jan. 1, 1910
Jan. 1, 1910
Jan. 1, 1890
Jan. 1, 1910
July 1, 1920
July 1, 1920
Jaii. 1, 1909
»1910
July 1, 1921
July 1, 1921
Jan. 1, 1921
July 1, 1926
July 1, 1916
July 1, 1914
Jan. 1, 1924
1895
Jan. 1, 1916

1883.
1884.
1885.
1836.
S tock and B onds.—Of the common stock, $10,007,116 was held in
Earnings—
,
$
$
$
$
the company’s treasury on May 31.1886. making the whole common
Passenger.................... 5,927,668 5,766,843
5,499,737 5,661,690 stock $41,374,866. Preferred stock has prior right to 7 per cent; then
Freight...................... 16,365,354 16,128,964 17,101,742 17,358,294 oommon entitled to 7; then preferred has a further prior right to
1,811.794 1,698,419 3 per cent; then common to 3 ; then both classes share. But the pre­
Mail, express,&c....... 1.366,802 1,575,191
ferred stock has not yet received more than 8 per cent in any year,
Total gross earn’gs 23,659,824 23,470,998 24.413,273 24,718,403 against
7 per cent paid on the common. Dividends since 1875 (prior to
Operating expenses—
$
$
$
$
the
current year) have been: In 1876, 2*3 onpref.; in 1877,3*a onpyef.;
Malnt’noe of way*... 2,548,609
2,339,635 2,551,327 2,641,977 in 1878,
on pref. and 5 on com.; in 1879, 7 on pref. and 5 on com.;
Maint’noe of equip’t.
2,489,257 2,574,437 2,430,809
2,327,875 in 1880, 7
on pref. and 6 on com.; in 1881, 7 on pref. and 6 on com.; in
Transp’rt’t’n exp’n’st
8,011,533 8,102,668 8,646,132 8,675,045 1882, 7%7on
pref. and 7 on com.; in ’83 and ’84,7 on com. and 8 on pref.
Taxes.........................
614,609
702,060
733,545
759,350 in 1885, 6*8 on
com. and 7*a on pref.; in 1886, 6 on com. and 7 on pref.
Miscellaneous.........
114,029
140,329
150,658
156,017
Prices of stock since 1877 have been as follow s: Common in 1878,
Tot. operating exp. 13,859,629 14,512.471 14,560,264 14,560,264 32*2»553*; in 1879, 49%»94*8; in 1880. 87*e®130; in 1881, 117®136;
9,900,802 10,158,139 In 1832, 124® 150%; in 1833,115%® 140*8; inl884, 81 *3« 124; in 1885,
Net earnings............. 9,881,787 9,611,369
8430® 115%; in 1886, 104%® 120%; in 1887 to May *20,110® 126%.
Pr. ct.op.ex. to earns
58*23
59*05
59*45
58*90 Pref.
in 1878, 59%»79*a; in 1879, 76%®108; in 1880, 104® 146*3; in
147*3: in 1882, 136® 175; in 1883, 134® 157; in 1884,
* Includes renewal of track, t Including elevators, stock-yards, per­ 1881, 131 *8® in
1885, 119%®139%; in 1886, 135A144; in 1887, to
sonal injuries and damages to property, legal, insurance rent of cars, 117®149*3;
May
20.
138*4®
153.
trackage, Ac.
The sinking fund bonds of 1879 are secured by a deposit of mort.
INCOME ACCOUNT.
bonds, on the new roads acquired at the rate of $15,000 per mile, and the
1883.
1884.
1885.
1886.
terms under which these are issued were published in V. 29, p. 277.
Receipts—
$
$
$
$
Of these bonds so far issued, $6,305,000 are 6s and the balance
Net earnings............. 9,881,787 9,611,369 9,900,802 10,158,139 5s. There are several small issues of bonds in addition to tnose in
Other receipts..........
164.707
82,307
105,939
144,654 the table above, viz.: Beloit & Madison RR., $91,000. 7s, due 1888;
Total Income . . . . . 0,o4o,4y4 9,693,676 10,006,741 10,302, ,93 Minnesota Valley RR., $150,000. 7s, due 1908; Plainview, $100,000,
7s, due 1908; Peninsula Railroad (Mich.), $152,000 7s, due 1898.
Disbursements—
$
$
$
$
The $10,000,000 debenture bonds were issued to pay for the Chicago
Interest on debt....... 5,373,925
5,918,608 6.096,573
6,241,093
Divs. on both stooks* 3,212,895 3,321,167 2,394,039
3,053,076 St. Paul Minneapolis A Omaha stock; the sinking fund for these bonds
is $200,000 per year from May, 1388, if they can be redeemed at 105.
Rate of dividend.......
7 both
7 both
7 &4
7A5
In June, 1884. the new issue of $6,0o0,000 5 per cent debenture bonds
Tot. disbursem’nts 8,586,820 9,239.775' 8,490,01-:
9.294,169 was
of which $1,966,500 went for the purchase of Blair
Balanoe for y e a r.... 1,459,674
453,901
1,516,129
1,008,624 roadsauthorized,
and the balance to be used for improvements as required. Any
•These are the actual dividends paid in the year, without regard to the future mortgage on the property of the company owned at date of these
time when they were earned.
bonds, shall include them.
The C. A N. W. exten. bonds of 1886 are direct bonds of the C. & N.
* GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
W. Company, secured by the deposit in trust of the 1st mort. bonds of
1883.
1884.
1885.
1886.
roads constructed or aoquired, at the rate of $20,<>00 per mile.
Assets_
$
$
$
$
I11 addition to bonds in above table there were live bonds in the sink­
Railroad,equipm’tA cl46,093,665 149,126,734 154,223,775 165,898,616 ing
fund amounting to $969,500 May 31,1886.
St’ks & b’ds own.,cost 1,161,980 1,228,283
754,792
877,486
L
and G rant .—The lands of the company have been acquired by the
BillsAaco’ts rec’able
1,550,232 1,146,059
1,452,309
768,782 purchase
of the Winona & St. Peter and other roads that have been
Materials, fuel, A o...
1,223,043 1,483,365
1,543,217 2,048,985
The Commissioners’ report for 1885-86 showed that the
Cash on hand...........
3,048,965 2,971,133
4,262,378 4,682,43 4 consolidated.
total consideration for the lands and lots so'd in that year amounted to
111. A Iowa coal lands
944,132
6 so,475
617,026
583.526 $806,855.
Net cash receipts were $663,688. The statement of amounts
Total assets............. 154,022,017 156,936,049 162,858,497 174,8oy,82y secured to be paid to the company by outstanding contracts of sale in
Liabilities—
$
$
$
$
force at the end of the fiscal year snowed a total or $1,209,502.
Stock, common........ 30,904,261 30,904,261 30,904,261 30,904,261
t a b l e of lands unsold fo r y e a r s ending m a t 31.
Stock, preferred....... 16,540,983 16,540,983 21,540,900 21,555,900
Funded d e b t ........... 96,272,000 100,254,000101,470,000 111,658,000
Name of grant.
1883
1884.
1885.
1886.
All other duesAacc’ts
1,711,099 2,093,163
164,958
431,825 Minnesota........ 784,532
635,577
628,811
574,362
Unpaid pay-rolls, &o.
1,732,687 1,610,661 1,729,269 2,249,109 Michigan.......... 485,677
461,847
443,296
420,428
Land department...
1,781,907
............
............
............ Wisconsin........ 320,125
303,723
303,165
299,041
Income account....... 5,079,080
5,531,981 7,049,109 8,057,734
Total..........
1,590.334
1,456.147
1,373,272
1,293,831
Total liabilities.. 154,022,017 156,936,049 162,858,497 174,859,829
Operatio n s , F inances , Ac.—The Chicago & Northwestern Railway
—(V.42, p. 155, 156, 351, 3 6 3 , 383, 487, 631, 728; V. 41, p. 387, 399, has
the policy of extending rapidly its lines in the far West.
472, 572, 608, 635; V. 44, p. 22,117,149,260, 275, 383, 392, 3 9 », 520.1 The pursued
stock had not been much increased until the issue of new stock
C h ic a g o d! N o r t h w e s t e r n .—( See Map 1 —L ine of R oad—The Chic. for stooks of proprietary roads, and a large nominal surplus has been
A Nortliw. operates 3,949 miles of its own roads and controls 1,339 miles rolled up, amounting to about $32,000,000, against which there are no
of the Chicago St. Paul Minn. A Omaha, 503 miles of Fremont Elkhurn liabilities.
& Mo. VaL, and 107 of Sioux City & Pao.; total controlled, 5,899 miles.
The latest annual report (1885-86) was in the C h ronicle , V. 43, p .
The mileage is extensive, and is shown clearly in the accompanying 130. The following were the earnings, expenses, Ac.:
map. The main line from Chicago to East Omaha, Iowa, is 492 miles,
OPERATIONS AND FISCAL RESULTS.
ana this forms practically the southern boundary of the whole system,
the company having nothing to the south of that line, with the excep­
1882-83.
1883-84.
1884-85.
1885-86.
tion of a few insignificant branches. At the end of the iiscai year, May Tot. miles oper’d
3,584
3,763
3,843
3,948
31, 1886, the Chic. & Northwestern mileage was made up in the annual
Operations—
reportas follows:Wisconsin Division, 55o miles; Galena Division, 400 Pass’gers carr’d.
7,968,560
8,623,483
8,403,884
9,140,195
miles; Iowa Division, 743 miles: No. Iowa Division, 369 miles: Madison Pass ger mileage 248,856,303 256,386,389 231,090,788 239,150,020
Division, 483 miles ; Peninsula Division, 369 miles ; Winona & St. Peter R’te p.pass.p.m.
2*46 ots,
2*40 cts.
2*38 cts.
2*36 cts.
Division, 448 miles; Dakota Division, 570 miles; total, 3,949 miles. In Fr’ght(tns) mv’d
7,874,065
8,453,994
8,235,127
8,494,239
July, 1884, the Blair roads, previously leased, were acquired by purchase, Fr ght (tns) m’gell83,829,358 1350,173,773 1416,789,205 1466,892,717
but the Sioux City & Pacific and Fremont Elkhorn & Missouri Valley are Rate pr.ton p.m.
1*42 ots.
1*31 ots
1*19 cts.
1*19 cts.
operated separately (6 to miles) aud tneir earnings no gincluded in tuose
Earnings—
$
$
$
$
of C. A N.W., but separately stated in the annual reoorts in the C hron­ Passenger..........
6,119,616
6,153,071
5,498,111
5,646,150
ic l e on p. 130 of V. 43 and p. 1 0 1 of V. 41.
Freight.............
16,894,352
17,677,866
16,917,394
17,503,244
Organization , A o.—Tne Chicago St Paul A Fond-du-Lac Railroad
1,067,867
1,189.687
1,086,551
1,130,206
which was a consolidation of several roads, was sold in foreclosure Mail, express,Ao
June 2,1859, and the Chicago A Northwestern Railway was organized
Gros8earn’s.
24,081,835
25,020,624 23,502,056 24,279,600
as its successor. In 1864 the coinpauy absorbed the Dixon Rock. &
Expenses—
$
$
$
$
Kenosha, the Gal. & Chic. Union aud tne Peninsular RR. of Michigan,
3,372,994
3,590,917
2,939,253
2,986,955
and has since absorbed by consolidation a large number of other roads, Maiut’ce of way
“
oars, Ao
2,322,099
2,418,297
2,193,224
2,219,211
including those which were operated as “ proprietary roads.”
7,758.638
8,429,121
7,970,502
7,950,608
in December, 1882, a controlling interest was acquired in the stock of rransp. A missel
618,785
672,621
690,928
702,452
the Cliio. St. Paul Minneapolis A Omaha Co. by the purchase of 53,800 Taxes................
snares of preferred aud 93,2 10 shares of com. stock.
Total.............. 14,072,516 15,140,956
13,793,907
13,859,226
In July, 1884, the leased lines in Iowa (Blair roads) were aoquired
on the terms stated in cue S u w l e aient of June, i.885, and prior issues. Net earnings.... 10,009,319 9,879,668
9,708,149
10,420,374
The Usual year ends May 31. Theanuual meeting is held early in June. P.o. exp. to earn.
58*44
60*51
58*69
57*08




Mat , 1887.]

RAILROAD STOCKS




üsTYESTORS’

32

SUPPLEMENT.

[V oi..

X L IV .

Subscriber? w ill confer a great favor by {giving im m ediate notice o f any error discovered in these Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount
Par Outstanding
Rate per When Where Payable, and by
of
For explanation of column headings, &c., see notes of
Whom.
Road. Bonds Value.
Cent. Payable
on first page of tables.
T. & D. New York, Co.’s Oifioe.
$100 $31,365,900
3
4,101
Chicago <£Northwestern—Common stock .... ,
do
do
100 22,325,454
4,101
Q.—M.
1%
Preferred st'ck (7 p. c. y ’rly, not cumulative)
do
do
Q.—F.
776 1865
1,000 12,651,000
7
Consol, sinking fund M.............................. .
do
do
2.977,500
7 g. A. & O.
Madison extension, 1st mort., sinking fund, gold. 126 1871 500 &c.
do
do
J. & J.
1,000
1.700,000
7
85
Ohio. & Mil., 1st mortgage.........................
.
do
do
J.
&
J.
25 1876
560,000
7
Menominee River, 1st mort., guar.............
do
do
120 1871 500 &c. 2,549,500
7 g. J. & D.
Menominee extension, 1st mortgage, gold
do
do
J.
&
D.
1,058 1872 500 &c. 12,343,000
7 g.
do
do
M. & N.
137 1870-1 1,000
1,592,000
7
do
do
4,079,500
175 1871 100 &c.
7 g. J. & D.
do
1st M. exten. gld., land gi
do
do
1,000
A. & O.
75 1870
1,350,000
8
Iowa Midland, 1st mort., guar, by Chic. &
do
do
62 1872 500 &c.
3,365,000
7 g. M. & S.
Northwestern Union, 1st mortgage, gold..
do
do
M. & 8.
24 1878
200,000
7
Rochester & No. Minnesota, 1st mortgage.
do
do
141 1882
M. & N.
601.000
6
Chic. Mil. & N. W., construction bonds......
do
do
M. & N.
154 1880
1,528,000
6
Chicago & Tomah, 1st mort., guar..............
do
do
1,000
6
M. & 8.
80 1880
1,600,000
Milwaukee & Madison. 1st mort., guar----do
do
1,000 14,665,000
5 A 6 A. & O.
1879
do
do
M. & N.
1883 l.OÖO&o 10.000,000
5
S. f. debenture bonds (for C. St. P. M. & O. stock),
do
do
1884 l.OOu&o
M. & N.
3,869,000
5
Debenture bonds of 1909 (for $6,000,000)..
do
do
l,000&e
4
F. & A.
1886
8,190,000
do
do
1,000
64 1884
1,600,000
5
M. & 8.
do
do
1,000
F. & A.
600,000
7
58 1882
Des Moines & Minneapolis RR. 1st mort. Bonds..
do
do
1,000
J. & J.
36 1881
720,000
6
Escanaba & Lake Superior RR., 1st mort...........
do
do
6
M. & S.
71 1882
1,007,000
Dakota Central RR., 1st mort...............................
do
do
125 1882
2,000,000
M. & N.
6
do
1st M.. Southeast Div. (for $2,000,000)
do
do
1,000
M. & S.
75 1885
1,500,000
5
North. 111., 1st M. ($20,000 p. m.) guar. C.&N. W
do
do
493,000
Other small issues (see remarks)..................
do
do
F. & A.
70 1861 500 &o.
700,000
7
Cedar Rapids & Missouri River, 1st m ort..
do
do
F. & A.
582,000
58 1863 500 &0.
7
do
1st m ort..
do
do
M. & N.
146 1866 500 &o.
2,332,000
7
do
1st mort..
do
do
F. & A.
82 1863 500 &c
129,000
7
Chicago Iowa & Nebraska, mortgage..........
do
do
1877
J. & J.
402,500
7
Maple River 1st mortg................................
I

{
Stocks—Last
Dividend.
Dee. 28, 1886
Mar. 23, 1887
Feb. 1, 1915
April 1, 1911
July 1, 1898
July 1, 1906
June 1, 1911
Deo. 1, 1902
Nov. 1, 1907
Dec. 1, 1916
Oct. 1, 1900
June 1, 1917
Sept. 1, 1908
Nov. 1. 1905
Nov. 1, 1905
Sept. 1, 1905
Oct. 1, 1929
May 1, 1933
Nov. 1, 1909
Aug. 15, 1926
Mar. 1, 1909
Feb. 1, 1907
July 1, 1901
Sept. 1, 1907
Nov. 1, 1907
Mar. 1, 1910
Aug. 1, 1891
Aug. I , 1894
May, 1916
Aug. 15,1892
July 1, 1897

S t o c k a n d B o n d s .—Dividends have been paid as follows since
1885-86. 1876, viz.: in 1877 and 1878, 8 per cent; in 1879, 10; in 1880,
8*u
cash and 100 p. c. in stock; in 1881, 1882, 1883, 1884, 1885
$
$
Receipts—
10,420,374 and 1886, 7. Range of prices of stock was as follows since 1876, viz.: in
9,708,149
Net earnings.. . .
1877
,82*3® 105*2 5 in 1878, 98389122; in 1879, 119® 150*2; in 1880,
$
Disbursements—
to July, 149®204; July to Deo. (new stock) 100*2® 143 ; in 1881,129
*28,567
1,570,948
Rentals paid___
@14858;
in 1882, 122@140*4; in 1883,116*2® 127*4: in 1884, 100*4®
5,536.363
*5,064,534
4,288.633
Interest on debt
3,4)4,504 126%; in 1885,105 9132; in 1886, 120*e@131; in 1887, to May 20,
*3,981,348
2,890,337
Dividends..........
124%@14078
*
7
8
8
8
Rate on p r e f....
The road from Minneapolis west to the juno. with Bur. C. R. <fc N. line
6
7
7
7
Rate on comm’n
(205
miles)
is
built under the charter of the Wisconsin Minn. & Pao. Com­
58,000
58,000
83,000
98,120
Miscellaneous ..
pany issued by the old Territorial Legislature. The W. M. & P. Co. issues
its
bonds
running
50 years, bearing 6 per cent interest, at the rate of
$9,118,408 $9,132,449 $9,038,867 $20,000 per mile,for
Tot. disb’m’ts. $8,848,038
of which $5,000 per mile is for equipment. These
..... ............
.. $1,161,281
$761,260
$575.700 $1,381,507 bonds are deposited by Rock Island with the United States Trust Co.,
Balance,
surplus
* On absorption of Iowa leased lines, rentals ceased and interest and and in lieu of them the Rock Island issues its own bonds for $15,000 per
dividend charges increased.
mile of road, but bearing 5 per cent. The difference in interest as it accu­
mulates is to be invested in Rock Island bonds; these bonds may be
GENERAL BALANCE AT CLOSE OP EACH FISCAL TEAR.
redeemed at 105 after July 1, 1894. The St. Joseph & Iowa RR., AltaAssets.
1883-84.
1884-85.
1885-86.
Mo., to Rushville, Mo., 64 miles, was completed Jan., 1886, and
Chic. & N. W. -R oa d & equip.. $102.710,425 $126,853.870 $126,901.024 mont,
Other companies
do
39,486,916 35,539,234
9K kqo oqa 36,628,824
m s i s m i $960,000 in similar collateral trust bonds issued.
The authorized issue in 1886 of similar collateral trust bonds for $10,200,000
200,000
Real estate in Chicago............
200,000
934.482 000,000 (at $15,000 per mile single traok, $5,000 for equipment and
360,242
Bonds owned.........................
508,026
for second track), was for the extension of some 700 miles under
12,282,159 112,2>-2,159 $7,500
Stocks owned...........................
20,323.343
714,000 the name of the Chicago Kansas & Nebraska Railroad.
1,221,000
730,000
Land grant investments........
O p e r a t io n s , F in a n c e s , &c . —The company has paid its stockholders
1,926,281
1,890,841
Bills and accounts receivable.
1,192,626
2,000.734 handsomely, including scrip dividends. The receipts from lands are
1,808,567
Materials, fuel, &o...................
2,205,359
2,932,848 now practically ended; the land notes on hand April 1, 1886, were
3.807,191
Cash on hand...........................
1,964,698
4.239,176 $676,114. The management is secretive and no monthly or weekly
1.934,004
Trustees of sinking fund.......
1,730,002
reports of earnings are issued.
„
.
The mileage, earnings, &e., for four years ending March 31, have
Total.....................................$171,051,394 $185,897,108 $183,759,528
been as follows:
Liabilities.
1885-6.
1884-5.
1883-4.
1882-3.
Stock, oommon........................ $26,617,366 $41,374,866 {$41.374.866 Miles owned & oper..
1,384
1,384
1,384
1,381
22,325,454 {22,325,454
22,325,455
Stock, preferred......................
11,230,000
$
$
11 , 220,000
Earnings—
$
$
Stocks of propriet’ry roads,&o 22,550,100
3.023.884 3,127,258
3,313,448
90,511,500
3,333,069
91.460,500
Bonded deb t...........................
80,891,000
8,144,142 7,713,659
8,056,316
1,331,600
7,928,236
1,544,221
Divid’ds declared, not yet due
1,027,772
1,163,431
1.038.885
1,165,750
4,239,175 Mail,expr’s,r’nts,&o..
928,598
1,934,000
Sinking funds pa id..................
1,730,000
2,251,206
1,690,680
Current bills, pay-rolls, &o---1,880,317
140,762
113,262
Total gro8seam’g81 12,189,903 12,535,514 12,206,911 12,004,348
Uncollected coupons, &o........
80,651
7,160,324 7,166,893
31,044
7,109,817 7,298,002
Rentals of roadsln la., not due
562,543
37,000
537.000
Bonds unsold, &o.....................
310,000
4,837,455
5,046,587
5,237,512
125.000
5,080,086
275.000
Net earnings....
275,000
Note of Consol. Coal C o ..........
59-70
58*65
58*22
703,525 P.o of op.ex. to earn.
5833
705,060
Accrued interest not d u e .......
675,395
120.000
Miscellaneous...........................
........
INCOME ACCOUNT.
3,194,071
2,954,246
1885-6.
1884-5.
1883-4.
2,938,675
Land income acoount.............
1882-3.
11,144,326
9,762,819
Railroad income account.......
9,187,120
$
$
$
Receipts—
$
4,837,455
5,237,512 5,046,587
.
5,080,086
Total................................... $171,051,394 $185,897,108 $188,759,529
310,000
330,000
470,000
’t
560,000
t Includes Chic. St. P. M. & O. stook, $10,315,659; F. E. AM . V. RR.
5,147,455
5,707,512 5,376,587
.. 5,640,086
stock, $1,966,500. Also owns C. & N. W. common stock, $10,007,lib ,
$
$
Disbursements—
$
$
and preferred, $2,284, but these items are included in the amounts given
3011995
301,121
301,121
304,363
_tent
leased
roads
on other side o f the acoount.
■
„
, .
950,000 1,002,350 1,094,750 1,213,250
Including $10,007,116 comm on and $2,284 preferred stook in com- Interest on deb t...
2,937,186
2,937,186 2,937,186 2,937,186
7
7
7
7
^^f^oludingfiv® bonds in sinking funds, which amounted May 31,1886, Rate per cent..
463,000
750,000
.
1,300,000 1,200,000
Add.
and
imp.
a
to $969,500.
164,784
196,344
177,784
147,595
Miscellaneous*
—(V. 42, p. 22,304,324, 338, 393, 487, 519, 694; V. 43, p. 49, 117, 130,
5,080,215
5.618,441 5,279,401
399; V. 44, p. 343, 621.)
1. 5,639,143
67,240
97,186
89,071
943
C h icago & Oliio R iv e r .—Line of road from Sidells, 111., to Olney
86 miles. This Co. was organized in 1886 as successor of the Danville
, 548, 631, 6 9 3 , 706, 752; V. 43, p. 308, 7 6 6 ; V. 44,
Olney & Ohio River, foreclosed in Feb. 1886. An extension to the p. 60,91,308,335,495.526.)
u J
' „
..
h
Ohio River is projected. Earnings in 1884-5, $50,293 gross, and def,
Chicago & St. L ou is.—Chicago to Pekin, 111, 150 miles, andbranoh
under operating expenses, $2,823. Parker C. Chandler, President, Bos 2 miles. This is the title of the company organized in Maroh, 1885, as
ton. (V. 42, p. 155, 215, 242; V. 44, p. 21, 289, 308.)
successor of the Chicago St. Louis & Western, which had been formed
Jan., 1884, as successor of the Chicago Pekin & Southwestern. Stook,
Chicago R o c k Isla n d & Pacific.—Line op R oad.—Owns from in
Chicago to Council Blufis, 500 miles; Davenport. Ia., to Atchison, Kan., $3.000,000. Bonds offered for sale in New York July, 1»85, by R. r8 45; Atchison Junction to Leavenworth, Kan., 21-5; Washington, la., to Flower & Co. Gross earnings in 1885, $292,798; net, $91,633; int. on
Knoxville, 77-5; South Englewood to South Chicago, 7*5; Wilton to bonds, $90,000. (V. 42, p. 604; V. 43, p. 773.)
Chicago St. L ou is &. P ittsb u rg .—The mileage is as follows:
Muscatine, 12-5; Newton to Munroe, 17; Des Moines to Indianola and
Winterset, 47; Menlo to Guthrie Centre, 1 4 '5 ; Atlantio to Audubon, Columbus, O., to Indianapolis, ind., 187 miles; branches—Bradford Juno,
24-5; Atlantic to Griswold. 14-7; Avoca to Harlan, 11-8; Avoca to Car O to Chicago, 111., 231 in.; Richmond, Ind., to Anoka Juno., Ind., 102 m.,
Bon, 17-6; Mt. Zion to Keosauqua, 4-5; Wilton to Lime Kilns, 5. Leased: Logansport, Ind., to Illinois State Line, 61 m.; Indianapolis to Kokomo
Cameron, Mo., to Kansas City, 54; Bureau Junction to Peoria, 47 miles; (operated jointlv with Wab. St. L. & Pao.) 54 m.; total operated, 635 m*
This is the reorganization (Maroh 20, 1883,) of the Columbus Chicago
Keokuk to Des Moines, 162. Total operated, 1,384 miles.
Organization— The Chioago & Rock Island RR. was chartered in & Indiana Central road, sold in foreclosure on Jan. 10, 1883. ins
C C. & I. C. company was formed Feb. 12,1868, by consolidation 1oi
nun»)« Feb. 7,1851, and opened from Chioago to the Mississippi River the
Col. & Ind. Cen. and Chic. & Great East, railroad companies. After
July, 1854. The extension from the Miss, to the Mo. River was built default
in 1875 and much litigation, a plan of settlement with the
b yth e former Mississippi & Missouri RR. of Iowa, whieh was foreclosed
Penna.
RR. was approved by a majority of bondholders in 1882 ana
under mortgage in 1866. The Illinois and Iowa roads were consolidated
out. There was held by the Penna. RR. and the Penn. Co. a large
August 22,1866, under the present title, and the main line was extended carried
to Council Bluffs June, 1869. The Iowa Southern & Missouri Northern amount of the 1st oonsoL mortgage and the stooks. The preferrea
is entitled to 6 per cent yearly if earned, and is omnulative.
was formerly the Chicago & Southwestern, and was foreclosed and pur­ stock
The gross earnings from Jan. 1 to Aonl 30 were $1,, 58,187 in 188/»
chased by this company, and consolidated June, 1880. The present
Ohio. R. L & Pacific was a consolidation June 4,1880, with $50,000,000 against $1,427,961 in 1866; net. $397,679, against $173,896; surplus
.
■took authorized, and a sorip dividend of 100 per cent to the holders of over interest, $38,336, against a deficit of $199,566.
The annual report of this company for the year 1886 was pun­
Chic. R. I. & P. stook. The fisoal year ends Maroh 31, and the annual
ished
in
the
C
hronicle, V. 44, p. 369, to whioh reference should be maaeelection occurs in June.




INCOME ACCOUNT.

1882 83.
$
10,009,319

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

1884-85.

RAILROAD STOCKS AND BONDS.

Ma y , 1887.

(13

Subscriber* w ill confer a great flavor by giving Im m ediate notice o f any error discovered in these Tables.
Bonds—Prinoi INTEREST ÔV DIVIDENDS.
d e s c r ip t io n .
Miles Date Size, or
Due.
Amount Rate per When Where Payable and by pal,When
par
of
Stocks—Last
For explanation of column headings, Ac., see notes of
Outstanding Cent. Pay’ble
Road.
Bonds
Value.
Dividend.
Whom.
on tlrst page of tables.
Chicago <£ Xorth wettern—( Continued)—
Fremont Elktaorn A Mo.Val.,Consol.bonds.......... 311
do
do
equipment bonds..........
Mo.V.A Blair RR.Br’ge, 1st. red’ble aft.’93...........
102
Sioux City A Pacifie, 1st mortgage...... ................
102
do
2d mort. (Gov’t subsidy)....
....
do
pref. stook... ............. .
....
Chicago <t Ohio River.—1st mort.. . . . . . . . . .
Chicago Rock Island Pac.—St’ok (for $50,000,000) 1,384
1st mortgage, coup, or r e g ........... C 'A ' d Wi>'\ 636
Chic. A Southw.. 1st M.g. (g’d in cur. by C.R.I.AP.) 271
Exten. and oollat. bonds ($20,000 p.m.) cp. or reg.
Chicago <£ St. Louis—1st rnortg.......... -• ---• ............ 150
Chicago St. Louis <£ Piltsb.—Common stock............. 635
Preferred stock (6 per cent cu m u la tive).......... 635
1st mortgage, cons >1. gold ($22,000,000)............ 580
117
1st M. Ohio. A G’t East. (Ohio, to Logansport)---208
do Col. A Indianapolis Central ...................
93
do Union A Logansp’t (U’n City to Logansp’t)
do Cinn. A Ohio. Air Llne(Rlohm’d to Logans.) 107
208
2d M. Col. A Indiauaoolis Central.........................
Chic. St. Paul ié Kan Ô ily- 1st, g’ld, $20.oOO p m. 142
Chic. St. Paul ilia’polis <£ Omaha—Common stook.. 1,339
1,339
Preferred stock....................................................
....
Consol, mortgage ($15,000 per mile).................
177
Chic. St. Paul A Minn., 1st mort., gold, coup...
120
North Wisconsin, 1st mortgage..........................
605
St. P. A Sioux City, mort., gold, for $7,000,000.
23
St. Paul Stillwater A Taylors’ Falls, 1st mort..
12
Hudson A River Falls. 1st mort.........................
....
Minneapolis East RR., 1st mort., guaranteed..
....
Chicago i£ West. Indiana—1st mort, (sinking fund)
General mortgage, gold, sinking fund..,.............

1883

$1,000

1883
1868
1868

500AO.
SOOAo.

__
__

100
1877 l.OOOAo
1869 100 Ao1884
1,000
188-5
1,000
100
100
1883
1,000
....
1864 1,000
__
1865
1864
1886
....
....
1880
1878
1880
1879
1878
1878
1879
1879
1882

__

1,000
100
100
1 .0 0 0

500 Ao.
1,000
1,000

__
...

1,000
1,000

$7,725,000
401,000
1.000,000
1,628.000
1,628,320
169.000
500,000
41,960,000
12,500,000
5.000,000
8,860,00 >
1.500,000
8,02 2,4 41
17.479,850
13,442,000
223,000
2,631,000
715,000
10^,500
780,000
2,800, "00
18,559,626
11,259,933
12,250,292
3,000,000
800,000
6,080,000
334,800
125.000
75,000
2,445,000
6,396.666

6
6
6
6
6
31«

J.
J.
J.
A.

1*
6
7
5
6

Q.—F. New York, Co.’s Offloe. May 2, 1887
July 1, 1917
do
do
J. A J.
Nov., 1899
do
do
M. A N.
July 1, 1934
J. A J.
do
do
Mar. 1, 1915
Now York.
M. A S.

A. A 0. New York, Co.’s Offloe.
do
do
do
do
A J.
do
do
A J.
A J. U.S. Treas., at maturity
A O. New York, Co.’s Offioé.

1884.
635

1885.
635

3
6
6
6
6
7
8
7
6
0

J. A
J. A
g. M. A
J. A
g. A. A
J. A
J. A
J. A
g. M. A
K. Q. -

IB

5,293,920
4,333,934

4,396,840
3,692,213

4.567,596
3,307,645

$957,956
81-90

$794,627
81-93

$759,951
83 36

4,812,316
3,966,300

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

1883.
1,280
¡B
1,470,558
3,843,948
200,778

1884.
1,318
$
1,430,711
4,132,530
221,690

1,305,515
4,255,398
253,897

1886.
1,365
$
1,413,218
4,466,734
273,315

Tot. gross earnings
Oper’g exp. A txs.

5,515,284
3,623,827

5,784,931
4,007,022

5,814,810
3,721,151

6,153,267
3,848,575

Net earnings............
P.o. of op. ex. to earn.

1,891.457
65-70

1,777,909
69-26

2,093,659
63-99

2,304.692
62-54

Receipts—
Net earnings....
In te re s t........
Other receipts.

1883.
$957,956
26,720
297

1834.
$79 4,627
1,972
78.073

1885.
$759,951

Total incom e....
Disbursements—
Rentals p a id .......
Interest on debt..
Net C. C. A I. C. for
3 mos........ ........
Miscellaneous.......

$984,973

$874,672

$759,951

$15.918
663,363

$21,224
1,079,602

$21,224
1,079,241

$21,221
1,074,121

8.

INCOME ACCOUNT.

120,633

17,565
95,789
............
$799,914 $1,100,826 $1,118,030 $1,191,134
Total dlsb’ram’ts
Balance.................sur.$185,059 def.$226,154 def.$35S,079 def.$315,119
—(V. 42, p. 334, 5 1 7; V. 44, p. 36 9 , 433, 5 2 5 , 526, 653.)
C h ic a g o St. P a u l A K a n s a s C ity .—(See Map o f Minn, é North­
western.)—Do* M o iu H s ,Ito Oolweiu, la., 132 miles; branches, Valeria
to coal mines and Wilaona to Cedar Falls, 10 miles ; total, 142 miles;
under construction, Des Moines to St. Joseph, 155 miles ; atOelwein,
connects with the Minn. A Northwestern, and has a traffic contract with
it. The Wise. la. A Nebr. RR. was purchased in Julv, 1886, for $20,000
per mile in bi nds and $2o.OOO per mile In stock. Bonds are authorized
at the rate of $20,000 per mile on road and $5,000 per mile for termin
als in cities and for equipment; also, $8,000 per mile additional for
double track. Capital stock ($25,00 *per mile), $3,500,000. Gross earn­
ings for six months from Julv 1,1886, on 115 miles were $138,965 ; net,
$42,523; payment from old company, $25,000; surplus over interest
charge, $10,023. R. T. Wilson. New York, President.—(V. 43, p. 72;
V. 44, 627.)
C h ic a g o St. P a u l M in n e a p o lis A O m a h a .—(See map Chicago
A Northwestern.) Mileage: Eastern Div.—Elroy to St. Paul, 196 miles;
River Falls Branch, 25 miles; Stillwater Branch, 4 miles; South Stillwater
Branch 4 miles; Eau Claire Branch, 3 miles; Neillsville Branch, 14 miles;
St. Paul to Minneapolis, 10 miles; total, 256 miles. Northern Division—
North Wisconsin Junction to Bayfield, 178 miles ; Ashland Junction to
Ashland, 4 miles; Ashland Shore line, 1 mile; Eau Claire to Chicago
Junction, 81 miles; Superior Junction to Duluth, 73 miles: total,
338 miles. St. Paul A Sioux City Division—St. Paul to Sioux City, 269
miles; Minneapolis to Merriam Junction, 27 miles; Lake Crystal to El­
more, 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction
to Salem, 98 miles; Luverne to Doon, 26 miles; total, 521 miles.
Nebraska Div.—Covington to Omaha, 126 miles; Coburn Juno, to Ponca,
16 miles ; Missouri River transfer, 2 miles; Norfolk Branch to Emerson,
46 miles; Wakefield to Hartington, 34 miles; Wayne to Randolph, 22
miles; total, 245 miles. Total owned, 1,360 miles. Proprietary road, 5
mues. Total of all, 1,365 miles. This was a consolidation July, 1880, of
the Chicago St. Paul A Minneapolis (formerly West Wisconsin), the North
Wisconsin, and the St. Paul A Sioux City. The St. Paul A Sioux City was
a consolidation in August, 1879, of the St. Paul A Sioux City and the
g® ?* „ ty “ ®t- Paul- forming a main Une from St. Paul to Sioux City,
St. Paul Stillwater A Taylor’s FaUs was consolidated
wmi this company ; also the Worthington Sioux Falls A Iowa and Cov­
ington A Black Hills.
- ferred stock has a prior right to non-cumulative dividend of 7 per
®®?ï froiu 5®“ eai’Quig8; but common is never to receive more than is
I*referTed. The Ohio. St. Paul A Minneapolis 1st mort, is a 2d
J
mort, a 2d on road; but no foreclosure can be
ha<l except by default on 1st mortgage.
a ®oat™Uing interest in the stook was purchased
Northwestern Railway by the acquisition of 93,200
S rrS s
onat aa average price of 48 40, and 53,800 shares of
w ^ f Ä Mt ti A aiiiveri*ge of 1U4 04—the total cost being $10,503,959,
a8
a®aet of tlie Lhio. A Northwestern Company.
18MP^ r e U f « « ^ o 8 m
4 l > e 493. The land salés in
L8f n ! t ? n19\ 68 , adrea for $1.562,803, including lots; land contracts
647
197^
£
d
rnV
ne£
l
1’
1886’
*
3
/<>?3,892;
lands’ undisposed of“
° *»••*•»* acres. Earnings, Ac., were as follows:




1885.
1,310

INCOME ACCOUNT

Receipts—
Net earnings...........
Net
from land grants
$876,016 Other
receipts..........
81-91
Total Incom e....
1886.
Disbursem ents—
$876,015 Rentals
paid.............
Interest on debt.......
Div. on pref. stook..
Rate of dividend . . . .
$876,015 Loss
on prop, roads.

Net earnings..

Jan. 20, 1887
J.
New York, Offloe
June 1, 1930
D.
do
do
N.
do
do
May 1, 1918
Jan. 1, 1930
J.
do
do
April 1, 1919
O.
do
do
J.
do
do
Jan. 1, 1908
J.
do
do
July 1, 1908
J.
do
do
Jan. 1, 1909
N. N. Y., Drexel, M. A Co. Nov. 1, 1919
do
do
M.
Deo. 1, 1932

FISCAL RESULTS.

1886.
635

Miles of r*d operated
Operations—
1,061,091
1,085,418
1,186,779
1,228,701
Passengers carried..
48,146,452 43,391.744 46,840,896 44,970,677
Passenger mileage
2-21 cts.
2-32 ota.
2*30 ota.
2-42 ota.
Rate « pass.
mile
3,075,385
2,’>17,082 3,031,595
riKUb
IU11B/ UiHIlUU
a,ioa,w«w
Fr’ght (tous)
carried 2,782,013
Fr’ght (t'ns) mileage 526,622,269 484,716,894 612,653,372 587,723,362
0*59 ota
Ave. rate $ tou ÿ m.
0 72 ota.
0-60 cts.
0-52 eta.
Earnings—
$
$
$
$
1,036,165
Passenger....................
1,163,407 1,134,689
1,036,077
Freight.......................
3,781,107 2,902,433
3,159,887 3,448,417
357,704
Mail, express, A o ....
349,406
359,718
3 7 1,632
Op exps. and taxesI.

Jan. 1, 1923
Jan. 1, 1898
Jan. 1, 1898
Oot. 5, 1888

5 g. A. A O. N. Y., Union Trust Co. Oot. 1, 1932
7
1893 A ’95
Various
do
do
Nov., 1904
7
J. A J.
do
do
7
do
do
Deo.. 1905
A. A O.
Aug. 1, 1890
7
F. A A.
do
do
Nov., 1904
7
M. A N.
do
do
5 g. J. A J. Now York and London. July 1,1936

OPERATIONS AND FISCAL RESULTS.

1883.
635

Oct. 1, 1933

1883.
$
1,891.457
547,777
153,623

1884.
$
1,777,909
651,125
212,221

1885.
1886.
$
*
$
2,093,659
2,304,692
721,995
741,065
33,235
73,959

2,592,857
$
35,564
1,222,371
770,476
(7)
12,356

2,641,255
$
49,174
1,320,146
787,976
(7)
13,065

2,848,889
$
02,982
1,334,321
675,498
(6)
12,524

3,119,716
{B
117,009
1,337,956
675,408
^624

2,170,361
Tot. dlsbursem’ts 2,040,767
2,035,238
2,139,997
552,090
470,894
Balance surplus.......
763,6)1
979,719
-(V . 42, p. 257, 429; V. 43, p. 244, 502; V. 44, p. 184, 263, 493.)
Chicago A W estern In d ia n a .—Owns from Dolton and Ham­
mond, 111., to Chloago, with a bolt railroad and branches, with ware
houses, elevator, Ao., 48 miles of roads and 132 miles of track In all
including 2d, 3d, 4th and siding track (of whleh 51 miles were leased to
the Belt R’y of Chicago), and about 400 aeres of real estate. This
oompan_ leases its road for right of way into Chloago and terminal
facilities therein to the Wabash, the Gr. Trunk of Canada, the Chloago
A East.s Illinois, the Ohio. A Atl. and Louisv. New Albany A Chicago
roads; the annual rentals stipulated amount to $667,450, exceeding the
intere st charge considerably. The stock is $5,000,000 and bonds are Uni­
ted to $10,500,000; the bonds are liable to be redee ne t at any time at
105 bv a sinking fund, whleh is provided for by Increased rentals to be
paid for that purpose. (V. 43, p. 22.)
Chicago A W est M ic h ig a n .—Owns from Lacrosse, Indiana, to
Pentwater, Mich., 209 mUes; branches—Holland Junotlon to Allegan,
23 miles; Holland to White Cloud, 70 miles; Fruitport to Muskegon,
10 miles; Kirk’s Junction to Piekand’s Junction, 3 miles; Muskegon
to Port Sherman, 6 miles; WoodvlUe to Muskegon River, 17 miles;
Mears to Hart, 3 miles; B. R. Junotlon to Big Rapids, 51 miles; White
River Junction to Baldwin, 20 miles: total operated, 413 miles. In
1887 leased to Chicago A Ind. Coal RR., about 18 miles—La Crosse to
New Buffalo.
Organized as successors of Chicago A Mich. Lake Shore Jan. 1,1879, and
consolidated in Sept., 1881, with the Grand Haven road, 57 miles,
Muskegon to Allegan, and the Grand Rapids Newaygo A Lake Shore, 46
miles, trom Grand Rapids to White Cloud.
There are also $24,000 outstanding of Grand Rapids Newaygo A L.
S. 2d Div. bonds.
Earnings, Ac., have been as follow s:
1883.
1885.
1884.
1886.

$

$

Total gross earnings............ 1,550,098 1,469,667 1,297,301 1,395,979
Receipts—
Net earnings........................ 364,874
468,977
348,783
370,482
Other reoeipts.....................
7,559
2,217
4,072
9,261
Total in co m e ..............
Disbursements—
Interest on deb t..................
Dividends.............................

372,433
$
217,024
184,506

471,194
$
222,085
215,257

352,860
$
224,080
123,004

379.743
$
225,024
153,755

Total disbursements.... 401,530
437,342
347,084
378,779
Balance.............................. def. 29,097 sur.33,852 sur. 5,776
964
- (V . 42, p. 186. 4 8 6 ; V. 44, p. 525.)
C incinnati H a m ilto n A D ayton .—Owns from Cincinnati, O.
to Dayton, O.. 60 mUes; leased—Dayton A Michigan, Dayton to
Toledo, 142 miles; Clneinnati Hamilton A Indianapolis, Hamilton to
Indianapolis, 99 mUes; Cincinnati Richmond A Chicago. Hamilton, O.,
to Indiana State line (and leased road), 44 mUes; MeCornb Toledo A
D., 9 mUes: total operated, 354 miles; each lease reported separately.
In April, 1885, a controlling interest in this road was purchased iu the
Interest of new parties, and in June the directors eleotod were of the
new management. See V. 42, p. 753.
A proposal in 1886 to issue pref. stook was abandoned, and in Jan.,
188?, the stockholders voted to issue $2,000,000 bonds and $500,000
common stock.

34




INVESTORS’

SUPPLEMENT.

[VOL. X L I V

Ma t , 1887.1

RAILROAD STOCKS ANDfiJBONDS,

35

Bonds—Princi­
INTEREST OR DIVIDENDS.
MUes Date Size, or
pal,When Due.
Amount Rate per When
of
of
Par Oatstanding
Where Payable, and by Stocks—Last
Cent. Payable
Road. Bonds Value.
Whom.
Dividend.
$6,150,200
Chicago £ West Michigan—Stock, new ..................... 413
$ ....
lh) F. A A.
Boston.
Feb. 15, 1887
480.000
1.000
M. A 8. Bost.. Treasurer’s office. Sept. 1889
8
1st mortgage, New Buff, to St. Jo........................ 127 1869
1,000
576,000
36 1871
J. A J. N. Y. Union Trust Co. July 1, 1891
8
Or. Rap. Newaygo & Lake Sh., 1st mort. coup....
2,794,000
5
413
1,000
J.
A D.
1881
Gen’l M. ($12,000 p. mile)......................................
Deo. 1,1921
4,000,000
100
Q .-F . N. Y., H. S. Ives & Co. May 1, 1887
2
Cincinnati Hamilton £ Dayton—Stock..................... 354
1
354
100
1,000,000
Q.—F.
Preferred stock......................... ........................... .
do
do
April 1., 1887
2,894,000 5, 6 ,7 A. A 0.
60 1875
1,000
Consol, mort. ($996,000 are 7s) sink, fund 1 p. c
do
do
Oct., 1905
2,000,000
1887
4 Ja
Mortgage bonds, gold . . . .........................................
do
do
1937
98 1873
1,000
1,800,000
Cln. Ham. A I. (Junction) RR., 1st mort., guar—
7
J. À J.
do
do
Jan., 1903
1,000
3,460,000
Cinti. Jackson £ Mackinaw—1st, g. ($10,000 p. m.) 263 1886
5 g. J. A D. N.Y., Central Trust Co.
1936
100 10,000,000
Cincinnati Indianap. St. Lou is £ Chicago—Stock.. 382
Q .-J .
1J4
New York.
|July 15,1887
95 1858 500 Ao.
1,598.500
7
A. A O. N. Y., Amer. Ex. Bank.
Ind. A Cin. of 1858,1st mort..................................
Oct., 1888
1,000
2,790,000
7
Indianapolis Cin. & Laf. mortgage........................ 151 1867
F. A A.
do
do
Feb., 1897
20 1862
1,000
499,000
7
J. A D.
Cln. A Ind., 1st mortgage..... ..................................
do
do
Deo., 1892
20 1867
1,000
do
2d M., guar., and funded coupons__
1,329,000
7
J. A J
do
do
Jan., 1892
1,255,000
Gen. 1st mort. gold sink, fund (for $10,000,000).. All. 1886 1000 Ao
4 g. Q .-F . N. Y., Central Trust Co. Aug. 1,1936
1,000
1,195,000
Consol, mort............................................................ 175 1880
6
M. A N. N. Y., Am. Ex. Nat. B it. May 1, 1920
1,000
Cincinnati Lafayette & Chicago, 1st mort.. gold ..
56 1871
1,120,000
7 g. M. A S.
Mch.. 1901
Cincinnati Lebanon £ North.— 1st m. (for $200,000;
37 1886
1,000
100,000
5
J. A J. Cinn., 4th Nat’l Bank.
1906
Cincinnati £ Muskingum Valley—1st m ortgage.... 148 1870
1,000
1,500.000
7
J. A J. Jan.,’86, cp.paid in Nov. Jan., 1901
100
Cincinnati New Orleans £ Texas Pacific—Stock....... 336
3,000,000
3
Feb. 5, 1833
Cin. Richmond £ Chic.—1st mort.. guar. C. H. A D..
36 1866
1,000
560,000
7
J. A J. N. Y., H. S. Ives A Co.
July, 1895
1,000
2d mortgage, guar, and owned by C. H. & D .......
36 1869
65,000
7
J. A J.
do
do
Jan. 1, 1889
Cin. Richmond £ Ft. W.—1st mort., gold, guar......
1,000
91 1871
1.800,000
7 g. J. A D. N. Y., H. S. Ives A Co.
June, 1921
Cincinnati Sandusky £ Cleveland—Stock................ 190
50
....
4,003,330
2
M. A N.
Boston, Office.
May 1, 1884
....
Preferred stock......................................................... 190
50
428,850
3
M. A N.
do
do
May
2, 1887
Mortgage bonds, Sandusky, Dayton & Cincinnati __
1866
538,000
....
6
F. A A. Boston, Nat. Re vere Bk. Aug. 1, 190<t
....
2d mortg. Cine., Sandusky A d e v e ........................
1867
1.072,300
7 •J. A D.
Boston, Olïioe.
Deo. 1, 1890
Cincinnati £ Springfield—1st mortgage, guar........
1,000
43 1871
2,000,000
7
A. A O. N. Y., U. 8. Trust Co. A p rili, 1901
2d mortgage......................................................
J
48 1872
1,000
651,000.
7
J. A J.
do
do
1902
Cincinnati Wabash £ Michigan—Stock ($3,000,000) 165
2,043,100
Cincinnati Washington £ Halt.—Common stock.... 281
100
5,886,100
Preferred stock....................................................... j 281
100 12,993,200
....
....
—
For the nine months ending Dec. 31, 1886, the net surplus applic able
C in cin n ati New Orleans Ac T exas Pacific.—(See Map).—This is
to>uiYiuenus
dividends was ¡paos.izu.
$358,120. Income
income account in the fiscal years
years ending the company organized under the laws of Olilo Oct. 8,1881, to operate
March 31 was as follows, including all the roads operated
the Cincinnati Southern, and 51 per cent of the stock is held by the Eng1883-84.
1885-86. lish company, the Alabama New Orleans A Texas Paoifio Junotion Co..
1881-85.
Gross receipts................................$3,042,461
$2,8o6,559 Limited. The Cincinnati Southern road extends from Cincinnati to
$2,865,933
Tenn., 336 miles. The Ala. N. O. A T. P. also oontrols the
Operating expenses and taxes.. $2,083,705 $1.841,271
$1,813,899 Chattanooga,
A Mer., 142 miles ; Vicks. Shrev. A Pao., 189 miles ; N. O. A No.
C. H. & I), div., com. and pref..
236,485
236,940 Vicks.
236,940
East.,
196
miles;
Spanish Fort RR., 13 miles. See title in this
Interest........................................
509,840
503,266
490,718 Supplement. The and
rental due the Cincinnati Southern is $812.000 ner
D. A M. dividends.......................
132,015
132,017
132,020 year till 1886, then $912,000
till 1891. $1,012,000 till 1896. $1,102.000
Miscellaneous..............................
6,185
10,650
till 1901, and $1,262,000 till 1906. The annual report for 1886 in V.
44,
p.
243,
gave
the
following
income aocount for three years :
Total.......................................$2,968,227
$2,724,144 $2,673,577
t, . .
m 1884.
1885.
1886.
Net surplus............................
$74,232
$2,681,546
$2.882,172
$182,982 Total earnings........................... $2,658,184
$141,789
1,710,535
1,833,579
—(V.43,p. 131,334, 487, 671,718; V.44, p. 5 9 ,9 0 ,1 4 8 ,2 1 1 ,_
_ ______
439,
526.) Woiking expenses and taxes... 1,836 974
C in c in n a ti I n d ia n a p o lis St. L o u is & C H iea g o.—(See ilap.)~
Net earnings for the year... $8 i 1.9 i 0
$971,011
$1,048,593
Owus from Cm. to Lafayette., Ind., 174 miles; Lawreuoeburg branoh.
Deduct—
Smiles; Harrison branch (partly owned), 7 miles; Fairland F. & M. For rental................. ..................
812,030
812,000
834.043
Road, 38 miles; and Cincinnati Lafayette* Chicago (leased), 76 miles;
Veruou Green. & Rush., 4 1 miles (leased); Kankakee A Seneca (one-haif Surplus revenue........................
$9.210
$159 O il
$214,549
tulles; Col. Hope & Green., 26 miles; total operated, 411 miles. —(V. 42, p. 2 4 0 ; V. 43, p. 125, 210, 774; V. 41, p. 21.)
This company was formerly the Indianapolis Cin. & Laf., whioh road
C in c in n a ti R ic h m o n d Ac Chicago.—Owns from Hamilton, O..
was sold in foreclosure Feb. 2, 1880, and this company organized.
The new 4 per cent mortgage lor $10,000,000 will retire all other to Indiana State Liue, 37 miles; leased, Riohmond, Ind., to Ohio State
bonds as they fall due, and leave a surplus of $1,000,000 for other pur­ Line, 7 miles; total operated, 44 miles. Reorganized May 3, 1866.
poses as needed. There are yet outstanding $33,500 Cin. & Ind. fund and leased in perpetuity from February, 1869, to Cincinnati Hamilton
coup. 7 p or. bonds, due Sept., 1890. In Maroh, 1887, stookliolde, s of A Dayton Co., this company to receive all surplus after expenses and
£V,c,°fwl’ .9.V
16th of that month had the privilege of subscribing to bond interest. Gross earnings in 1882-33, $254,003; net. $109 844$3,600,000 new stock at 65. (V. 44, p. 275.)
1 8Ul^ ’
Gl? 88il1 1883-4, $247,911; net?$86,256 ;’
s Qa?7 evtil montlisfrom J u l y l gross earnings were $1,615,163 in nt., $43,120; surplus, $43,068. Capital stock, $382,600.
188b-7, against $1,419.838 in lr85;6 ; net, $642,700, against $ ,67,068;
®1“
cr
1
“
u
a
*1
R
ic
h
m
o
n
d
* F ort W a y n e .-O w n s from Rich­
surplus over charges. $292,700, against $217,068.
v
,
,
.
iiiiV!3,1 r‘ l)0.r tifo/'the fiscal year ending Juno 30,1886, published mond,Ind., to Adams, Ind., 86 miles; leased, 5 miles of Pittsburir
r„°rri^MUU
en&
Chicago;
total
operated,
91 miles. Leased for 99 years
in the Chìconicle, V. 43, p. 430, had the folio a lug:
to Grand Rapids A Indiana, the rental being net earnings: IuINCOME ACCOUNT.
ter®«t18 guaranteed by the lessees and by the Pennsylvania Company
1882-83.
«a«?** Q^Jamlfton AD ayton Company, jointly. Gross earning's
1883-84.
1884-85
1385-86$
$
$
« ’ I ^ ’ kqo: ^ *’ $ lO3»540i loss to guarantors, $68,116. Gross
Gross earnings.......... 2,617,457 2,408,589 2,595,859 2,526,934 £ i s «8r2
* $225,690; loss to guarantors, $50,873. Capital stock, $1,709,192. Total advances by guarantors, $988,460.
Net earnings..............
973,652
903,190
935,678
986,872
Disbursements—
nhml\C„i , iJ1,^iI
* Cleveland.—Owns from Sandusky,
Interest on bonds......
621,159
626,233
624,482
624.234 Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay. 16 miles •
Dividends..................
315,000
Aaa^h^^u8 Springfield A Cincinnati, 44 miles; total operated, 214
210,000
Rate of dividends__
(4>e p. c.)
(3 p. C ) leased t?» ilm o r « i ° ™ e tn?eu SPrira«,tleld & Dayton, 24 miles, which is
Miscellaneous.............
2,342
5,254
29,045
18,814 leased to tiie Clev. Col. Cum. & Indianapolis. The preferred stank
has a lien by deposit of old bonds in trust. In April, 1881 a lease
Tot. dlsbursem’ts...
938,501
631,487
653,527
853 078 mfd 1th^e(t°Rbt Iw llaua ,Blf° ° ‘ulligtoii A Western, but litigation’ensuecL
Balance, surplus........
35,151
271,703
282,151
133794 th \ cl&l-.m!*
W, hw?nt; to foreclosure. Afterward it was reported
tti it after the sale the two companies would be consolidated. See V. 43.
Tan 42\P ®3’ 215. 338, 468, 604, 928, 753; V. 43, p. 22. 73 190 368 p. 4o8. (V. 42, p. 694; V. 43, p. 49, 244, 309, 398, 45 s ; V. 44, p. 90,i
4 3 0 , 4 j 1, 458, 515, 607; V. 44, p. 59. 90, 244, 275, 343, 494.)
’
’
S p v ln s flo ld »—Operates from Cincinnati, Ohio, t o
nunb to,iv.M|,li)JaiCn*0nl & M u c W n a w .—Owns from Franklin. O., Springfield, Ohio, 80 miles, of which 32 miles were leased from other
^°rrP,iaine8, iT Ve wJi°le 18 leased and operated by Cleveland CoLCin.
i rt^nd'r^ °’’ "tvlag them a line Into Cluoinnatl, and depot accommodai ° “ ; ^ er ef
any excesa over rentals to 0. A S. stock. Interest
is guaranteed on tiie first mortgage, oue-balf bv tbe lessees ami mi a ho if
Mi.h. A Ohio sold inf««eclosure
d pUi0“ a8ed the property of the by L Shore A Mich. Southern. °s f,ck ¿ f S o o V o o 6 T o ^ a n u ^ i s s e i
ila'^
Gross earnings in 1884!
i
earnings, $193,008; rentals, $166 060 • interest 441«^ 9
w h i c h c o f t ' a b o u t 0*01lO^timsrehf
also equipment
DESCRIPTION.
IUU Wl WUUUU
on first page of tables.

; otUer payments,
$ ? l . b ® u 1 : Ci> f
« ^ « n 2 > Uo0ck, I i i ? 5Sof
same amount of cin Vanwert
1 Vi*
^6 uso i to retire tiie
relire the “ ich & o K r uuh 1 V h '‘t n ° rV ^ ds; and «550,000 to
K lw sao ^ r 5 8 & T
hold, rs get $1 000 in
C‘u- V. W. . M. income bond- two ?’0. 011!?*'
bondholders. New company organized April, 1880*
Mich A Ohio first morr.^ hfndholdera ^ e t ^ nnu'l00 bo? d* aild tUe n ?faM 8 i M r a r Zc4 $9,000,000. Gross earnings for 1886,P$389,139 ;
$2,000 in common stock tor each »1,000 bond ’
U
st0o^: and
President?^ClevSand, Ohio
’ $ 3 2 l'7a0; net’ *58’655- J- H. Wade,
^ r neoiioa of 83
bel8t “
b o ^ » £ rp » o M
b£n>
281SiS OUto t0 HaiUden’ 53 m ; Manchester to MillsThe Marietta A Cincinnati Co. was sold in foreclosure Deo 9 1882
. ITT* 01 l“ 18 company were $112,380.
f r « zat,1011 was juade Feb. 7, 1883, uuder this n a m
1882’
° hi0* t0 Ci“
ati, an£
Pnor lien bonds were issued for receiver’s certificates. Of the first
ton. total O e i a S b T S w
^ es2 4m U es Dodds to Day$
}
’
250>
09
°
were
issued
for
the
Cincinnati
A
Baltimore
of the Cm.Northern sola m i o r e o l n s , a ? 8 formt,d in 1885, as successor
Railioad stock, and bear 6 per cent, the balance bear 4*a per cent and
Cine1.17 UJ° r ,iel° DeC‘ 3I> ‘ 88f>’ $ 1 ' « - « S V 8
V. S .
boniSw lt^s^ave vothag^o we* ° M° taUro“ Compand PM c o ^
DresUen“ “ uoao£,
( ^ r ^ T 0 ™ 18 from Morrow, O., to
The annual report for 1886 had the following:
in 1851 ana opened in 1857 gold
?8 <Jmn\ Wilm. A Zanes,
Harnings f r o m 1884.
1885.
1886,
reorgamzwi as Cincinnati A Zanes vm«
Pctg A7’ 1363,_aud
Fref»nf erd....................................... $536,198
$461,412
$533,797
1,242,693
Mail, express, A c............................
238,249
221,581
233,916
$74,511 ; interest, $Iu5,o00 • d e V i Æ Æ V 88.6’ « ‘ 91,132; net, .-. Total earnings..........................$1,854,308 $1,705,270
Dec. 31, i860, $ 1,084.013/
JX/Sf amount due lessee
$2,010,406
1,464,830
of Jan. 1, lööt>, was paid in N o v ^ l ^ 00* ’ *3’997’320- The coupon Operai ng expenses and taxes___ 1,408,371
1,462,943
Net earnings............................. $445,937
$240,440
$547,463




INVESTORS’
SUPPLEMENT.
V ol.
x l iv

.]




RAILROAD

M a y , 1887.1

STOCKS AND BONDS.

37

lediate notice o f any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par
of
of
For explanation of column headings, Ac., see note
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Cincinnati Washington <£ Baltimore—( Continued)—
1st mort. gold (the 4*as are guar, by B. & O)........
2d mortgage, g o ld ..................................... ---•
Prior lien, g o ld ...................... ................................
3d mort., gold (3 pr. ot. for 10 years and 4 after).
1st Income mort., non-oumulatlve, gold................
2 1Income mort.. non-oumnlative................. .
Baltimore Short Line mortgage...............................
Cincinnati A Baltimore mortgage..........................
Scioto A Hooking Valley mortgage........................
Cleveland Akron d Columbus—S t o c k ................
1st mortgage bonds....................................... ........
Cleveland <£ Canton.—Stook ($2,800,000 is pref.)...
Bonds .
....................................... .
Cleveland Columbus Cincinnati <t Ind.—Stock.......
1st mortgage Bel. A Ind........................................
do
C. C., C. A I. sinking fund...............
Cons, mortgage (sink, fund 1 p. o.)................... .
General oousol. mort., gold (for $12,000,000)....
Clevel. Lor. <t Wheel.—Cl. Tusc. Val. A W. 1st M .. ..
Cleveland <£ Mahoning Valley—S t o o k ................
1st mortgage, extended..................... .
3d mortg. (now2d)................................... .
New mortgage for $ 1 ,3 0 0 ,0 0 0 .........................
Niles A New Lisbon, 1st mortgage........................
Cleveland dt Marietta.—Stock.....................................
Cleveland <£ Pittsburg—Guaranteed stook...............
4th mortgage (now 1st)...........................................
Consolidated sinking fund mort. for $5,000,000..
Construction and equipment bonds, Series “ A” ..
Do
do
Series “ B” ..
Cleveland Youngs. <£Pitts.—IstM., gold..................
Oolebrooicdale—1st mortgage....................................

1883
1883
1883
1883
1883
1883
1869
144
144
391

202

390
390
158
127
67
67

1852
1886
1884
1869
1874
1884
1878
1873
1876

35
99
226
199
199

1870
*•••
1862
1867
1873

13

1882
1868

$7.171,703 41ag& 6g M. A N. N.Y.,Farm’s’ L.A Tr.Co. Nov. 1, 1931
Nov. 1, 1931
do
do
3,031,000
5 g. J. A J.
April 1, 1893
do
do
4 1flg. A. A O.
500.000
Nov. 1, 1931
do
do
F. A A.
3-4
2,270.000
Nov. I, 1931
do
do
....
3.500.000
5
Nov. 1, 1931
do
do
.
.
.
.
4,000.000
5
Deo. 1, 1904
do
do
J. A D.
750,000
7
Jan.
1, 1900
Cin„
C.
W.
A
c
B.
Office.
J. A J.
500,000
7
M. A N. N.Y.. Farm.Ln.A Tr.Co. May 1, 1896
7
300.000
Feb.
1, 1887
N.
Y.,
J.
A.
Horsey,
4,000,000
l»s
100
Jan. 1, 1926
do
do
6
J. Â J.
600.000
500 Aco.
9,800,000
....
....
340,000
F. Ac A. N. Y., U. 8. Trust Co. Feb. 1, 1883
2
100 14,991,600
Untll 1899
do
do
J. A J.
7
2 s 1,000
1,000
May, 1899
do
do
M. A N.
3,000,000
7
1,000
4.007,000 7 or 6 g. J. A D. New York or London. June 1,1914
1,000
Jan. 1, 1934
New York.
3,205,000
6 g. J. A J.
1,000
A. A O. N.Y.. Union Trust Co. Oot. 1, 1898
700,000
7
Cleveland,
Otfioe.
(»)
M. A N.
2,759,200
(?)
50
740,500
500 Ac.
i g. F. A A. N. Y., Ü. 8. Trust Oo. Aug. 1, 1893
Sept. 15,1896
do
do
M. A S.
654,600
500 Ao.
7
(?)
J. A J. N. Y., Union Trust Oo. Jan., 1890
500,000
500 Äo.
7
1?)
Q.'-M. N. Y „ Farm. L. A T. Oo. June 1, 1887
’ ’ *5*0 11,240,971
*‘i \
Jan., 1892
do
do
J. A J.
1,096.000
500
6
Nov. 1, 1900
do
do
M. A N.
2,2 '0.000
1,000
7
Jan. 1, 1913
do
do
1,669,000
J. A J.
1,000
7
401,000
7
July 1, 1921
1,600,000
6 g. J. A J. Last paid Jan., 1884
1,000
$600,000
J. A D. Phila.. Phil. A R. Otfioe. June 1, 1898
$100 Ao.
6
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

INCOME ACCOUNT.

Net earnings...................................
Disbursements—
Interest on bonded debt................
Other interest and miscellaneous.

1884.
$445,937

1885.
$240,440

1896.
$547,462

$392,072
28,594

$693,275
1,213

$693,175
408

Total disbursements.............
$720,667
$694,483
$093,583
$154,048
$146,120
Balance, defloit.............................. $274,730
—(V. 42, p. 207, 5 1 7 ; V. 43, p. 308, 398; V. 44, p. 60, 90, 491.)
Cleveland A k ron Ac C olum bus R a ilw a y .—Owns from Hud­
son, O., to Columbus, O., 144 miles. Default was made July, 1874, by
Cleveland Mount Vernon & Delaware. Sold in foreclosure in 1832 to
parties representing the Holland bondholders. The company was re­
organized under this title in Jan., 1836. The 1st mort. bonds may be
redeemed Jau 1, 1890. Gross earnings in 1883, $312,915; net, $130,532; charges, $36,828. Gross in 1385, $493,890; net, $38,001. Repoit
for 1886 in V. 44, p. 433. (V.42, p. 93; V. 44, p. 275, 360, 433.)
Cleveland Ac C anton.—Line of road—Cleveland to Coshooton, O.,
115 miles; Canton to Sherrodsville, 43 miles; Oneida to Minerva, 3 miles;
total, 161 miles. The Conuotton Valley Railroad was sold In foreclosure
May 9,1885, and this company was organized with an authorized oapital
of $4,000,000 common and $8,000,ooO preferred stook. In May, ’ 87,
stockholders voted to negotiate a mortgage of $2,000,ooo to change the
gauge to standard. The gross earnings for year ending Dec. 31, 1886,
were $358,219; net, $76,679. See full report to Dec. 31, 1886, V. 44,
p. 120. For three months from Jan. 1, 1837, gross earniugs were
*78,120. aaaiust $71,1 9 in 1886; net, $12.213, against $11,350. (V.
42, p. 338, 364, 548, 604; V. 43, p. 244, 487; V. 44, p. 12 0 , 211, 275,
400, 433. 621.)
Cleveland Colum bus Cincinnati Ac In d ia n ap olis.—Owns
from Cleveland, O., to Columbus, O., 138 miles; Gallon, O., to Indian­
apolis, Ind., 203 miles; Delaware, O., to Springfield, O., 50 miles;
leased, Cincinnati A Springfield RR., 80 miles; Levering Station to
Mount Gilead. 2 miles; Ind. A St. Louis R R , Indianapolis to Terre
Haute, 72 miles; St. L. Al. & T. H., East St. Louis to Terre Haute, 180
miles; Alton branch, 4 miles; total owned, leased and operated, 738
miles. This was a consolidation in April, 1868, embracing the C. C. & C.
and the Bellefontaine roads; subsequently leased Cinn. & Spring. RR.
and St. L. Al. A T. H. RR., and purchased ind. & St. L. RR.
The company paid dividends prior to 1877, but after that the
large decline in rates for through freight and the heavy rentals paid
reduced the company’s income so that no further dividends were paid
until February, 1880, and none after that till February, 1883. In 1882
the company acquired control of the Indianapolis & St. Louis, and made
a new lease of the St. Louis Alton & Terre Haute Railroad. The sinking
fund provision of consolidated bonds may be canceled at option or
holders, and the bonds so stamped.
For three months from Jan. l to M’ch 31 gross earnings were $1,003,660, against $392.574 in 1886; net, $364,234, against $253.374 ; deficit
under interest, taxes, betterments, &e., $ 119,701., against deficit of
$19,394 in 1886.
The annual report for 1886 was in the C h r o n ic l e , V. 44, p. 368.
On the C. C. & I. C. proper, the results for four years were as f jllows:
OPERATIONS AND FISCAL RESULTS.

.
1883.
1884.
1885.
1886.
Miles owned..............
391
391
391
391
Operations—
Passenger mileage... 43,548,617 42,176,610 38,145,360 39,496,055
Bate «p a ss. $ mile. 2217 ots. 2133 cts.
2-091 ots. 2150 ots.
Freight (tons) mil’ge.408,436,350 397,678,278 428,691.881 423,545,587
Av. rate V ton $ mile 0-751 ots. 0 633 ots.
0-577 ots. 0 679 ots.
Earnings—
$
$
$
$
Pasaengec...................
965,693
899,435
797,679
849 168
.........- .........
3,068,717 2,518,873
2,471,863 2,877,157
Mail, express, Ao----178,697
182,038
106.865
194)l65

—(V. 42, d . 93. 155, 304. 3 3 7 , 483. 604, 603; V. 43. p. 22,131, 309,
398,579, 671; V. 44, p. 21, 59,184, 303, 357, 3 6 8 , 526, 621.)
Cleveland L orain Ac W h e e lin g .—Owns from Loralu, O., to
West Wheeling, O., 158 miles. Cuartered as Lake Shore & Tuscarawas
Valley la 1870 and opened in 1873. Sold under foreclosure Jan. 26,
1875, and reorganized as Cleveland Tuscarawas Valley & NVdeellng. In
February, 1883, road sold and reorganized as Cleveland Lorain <fc
Wheeling. Common stook Is $ 1,000,0JO aud prof erred $ 1,600,000. In
1835 gross earnings were $755,447; net, $212,111. In 1838 gross
earnings, $314,357; net, $257,403; Interest, $49,000; surplus, $203,403. (V. 42, p. 631; V. 44, p. 053.)
Cleveland Ac M a h on in g V a lle y .—Owns from Cleveland, O.,
to Sharon, Fa., 81 miles; Niles, O., to New Lisbon, O., and brauoh.es,
46 miles; total operated, 127 miles. It was leased to Atlaatlo & Great
Western In perpetuity from Ootober 1,1801. A new lease was made
to the reorganized company, New York Penn. & Ohio, till Oot. 1, 1962,
at $357,180 per year tlU Jan., 1885, and $412,180 per year afterward.
Cleveland Ac M a r ie t ta .—Operated from Marietta, O., to Canal
Dover and branch, 99 miles, and 7 miles, Valley Juaotlon to Canal
Dover, leased. The Clev. & Marietta was suoo ssor t » cha M., Pittsb. Ac
C.ev., foreclosed In 1877. The road was again teredo sod vtay 5, 1886,
and reorganized, and $2,000,000 new stook issued au l held in trust for
old mortgage bonds. Consolidation with the Valley RR. of Ohio is pro­
posed. Earnings in 1835-6, $293,302; net $62,813. G. H. Candee, Sec­
retary and Trans., 52 William St., N.Y. (V.42, p. 430,575; V. 4 3,p. 431 ;
V\ 44, p. 853.)
Cleveland Ac P ittsb u rg.—(See Map Penn. It2?.)—Cleveland, O., to
Rochester, Pa., 124 miles; branches—Bayard, O., to New Phila., 31
miles; Yellow Creek to Bellaire,43 miles; leased, Rochester to Pittsburg
(P. Ft. W. Ac O.), 28 miles; total operated, 220 miles. Tue property was
leased for 999 years from Deo. 1,1871, to Penn. RR. Co., aud lease trans­
ferred to Penn. Co. May 1,1872. Rental, 7 per cent on existing oapital
and $10,000 per year for oompany expenses, the lessees assuming all l i a r
bllitles. The terms of the lease were 10 per cent, but theeold. stook was
subsequently converted into a 7 per cent stook by an inorease in amount.
The annual report for the year ending November 30, 1882, stated
that final settlement had been made with the Pennsylvania Railroad
Company in the matter of surplus assets remaining to this company, as
of the date of the lease, after closing its business, which surplus accrued
to the lessee by the terms of the supplementary agreement of November
30,1871. “ The total amount transferred as authorized by the board
of directors is $202,291. This sum has been oharged against ooustruotion, meeting the old balance of net earnings—$390,138—credited to
construction In the year 1880.”
For the year ending November 30,1938, the gross receipts were
$2 833,234, an 1 the deficit to lessee after making a 1 payments was
¡t>161,4 a2, against a deficit of $341,931 in 1333.
Cleveland Y o u n g sto w n Ac P ittsb n rg.—Standard-gauge road
in progress from Hontnlngion, O., to Steubenville, O., too miles, and
32 miles branohes. In operation from Bergholz, O., to Phalanx, O., 70
miles. Earnings in 1834-35, $46,864; net, $6,595; in 1833-34, $44,694; net, $7,900. In March, 1834, Robert Martin, ot Steubenville, O.,
was appointed receiver, and in June,’88, a decree of sate was made in
favor of Carnegie Bros. Stook, $1,000,000. Henry vV. Ford, President,
15 Cortlandt St., New York. (V. 42, p. 753; V. 43, p. 334.)
C olebrookdale.—Owns from Pottstown, Pa., to Barto, Pa., 13
miles. Leased for 20 years from Jan. 1,1870, to Pailadelpnia Ac Reading,
at 30 per cent of gross earnings. Gross earnings in 1885 80, $55,528;
net earnings (30 per cent rental), $10,653. Gross in 1334-33, $44,903;
net (30 per cent), $13,471. Capital stook, $297,215.

Colorado Central—(Nee Map o f Union Pacific)—Denver to Golden
16 miles; Golden to State line, 106 miles; Drnver Junction to La Salle,
151 miles; and narrow gauge line from Golden to Georgetown, 34
Total gross earn’gs. 4,213,107 3,600.346 3,456,407 3.920.490 miles, and Forks Creek to Central City, 11 miles; leases line from
Oper. exp. A taxes... 3,143,526 2,875,853
2,812,182 2,699)361 Colorado Junotion to Wyoming State line, 9 miles; total operated, 327
miles. Chartered in 1865, and main line opened In 1870. It Is owned by
Net earnings.............. 1,069,581
724,493
644,225 1,221,129 the Union Pacific. The new mortgage bond was Issued to take up the
old 8 per cent bonds, of whioh $377000 are yet oat. Stook, $6,230,300.
INCOME ACCOUNT.
Gross earnings In 1885, $1,320,765; net, $293,411; interest, $336,030;
deficit $38,536. In 1886, gross earnings, $1,391,215; net, $414,112 ;
BUHPU18| 318| 418| 51886.
Nöt earnings...........
1,069,581
724
ß44 99^ i 991 iqq Interest, $336,030; surplus, $78,341.
S S u i an(1 f o r e s t
129,497
21L396
213)032
*263,626
C olu m bia Ac G reenville (S. C .)—The company owns from
Miscellaneous..........
165,531
13,805
............
...)
Columbia to Greenville, S. C., 143 miles; branches to Abbeville and
Anderson,
2L miles; total 164 miles. Also owns Liureis RR.. 31 miles;
1.364.609
949,694
857,257 ^L.484,755 and leases Blue
Ridge RR., 32 miles, and Spartanburg (Jnlon Ac Col. RR..
69 miles. Total operated, 296 miles. TUe Greenville Ac Columbia road
D ° Ä d s n..deb.t;* -' (2)299 984
602’540
659’385
702,810 was sold in foreclosure April 15, 1330, and reorganization was made
Miscellaneous...........
26’,995 _ _ Y 0 2 ,633 '* 79,896
*'"2 ,1 3 3 under this name; preferred stook, $1,000,000; com non stock, $1,000,000; all in $LoO shares. A majority of the stook was held by the Rich­
mond & West Pd. Terminal Oo., and in May, ’80, this roal was Leased to
Rich. Ac Danville RR. Co. Tne gross earnings on ail Lines In 1384-35
ßS an ^ u S T .?
530)177
244.521
*117,976
* 77u 812 the
were $724,316; net, $345,176; interest and rentals, $243,166; surplus,
$102,0)9. In 1835-0, gross earnings, $655,631; ned, $ 2 1 1,330; inderest
« Ä Ä S r i i ? K *Ä ?i° i
for *dai- and rentals, $251,418; deficit, $36,535. (V. 42, p. 2 1; V. 43, p. 718.)




INVESTORS’

38




SUPPLEMENT.

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MAP OF THE

COLUMBUS,
HOCKING V ALLEY
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M a y , 1887. |

JRAILROAD STOCKS AND BONDS.

39

Subscribers w ill com er a irrest favor by g trinar Im m ediate notice o f any error discovered n these rabies.
DESCRIPTION.
on first page of tablee.
Colorado Central—let mortgage, new ......................
Columbia <£ QreenriUe—New mort. ,g’ld,coup. or reg
2d m o r t g a g e .................................... ........... ..,
Columbia ¿P o r t Deposit—1st mortgage.......... .
Columbus <£ Cmn. Midland—1st M., coupon.......... .
Columbus Hocking Valley <£ Toledo—Stock..............
Consol, mortgage, gold (for $14,500,000).............
General M., g „ on road A Hocking Coal A RR. Co.
Col. A H. V. 1st mortgage, sinking fund bonds..
CoL A H. V. 2d mortgage bonds...........................
Columbus A Toledo, 1st mortgage coupon, s. f . . .
do
2d mortgage coupon, s. f..._
Ohio A W. Va., let M. (s. f. $15,000 begins In ’86)
Columbus Springfield rf Cincinnati—1st mort.......
Columbus <C Western—1st mort. (end. by Cent. Ga.j
Columbus <f Xenia—S tock ........................................
1st mortgage.............................................. .............
Concord—Stock.............................. .............................
Concord <£ Claremont—Bonds....................................
Concord' cfi Portsmouth.—Stock, guaranteed.............
Connecticut Central—1st mortgage, op. or reg..........
Connecticut <£ Passumpsic—Stock..............................
Mortgage bonds............................................ .........
Massawippi st’k, guar, same div. as Conn. A Pass.
do
bonds, guar, by Conn. & Pass............
Newport A Richford bonds, guar, by C. & P ..........
Connecticut Hirer—StocK.............................................
Connecting (Phila.)—1st mortgage...........................
Consol, RR. o f Vermont—1st mortg. (for $7,000,000)
Missisquoi Railroad bonds.......................................
Coming Oowanesque <£ Antrim—Debenture bonds..
Covington <£ Macon—1st M., gold ($12.<'00 per m.).

Miles Date Size, or
of
of
Pai
Road. Bonds Value.
323
164
164
40
71
324
324
327
121
121
118
118
85
45
60
55
55
142
71
41
29
147
110
37
37
22
80
7
185
78
....

1879
1881
1881
1868
1884
1881
1884
1867
1872
1875
1880
1880
1871
1881

....

1860
1874
1875
1873
1870
1881
1864
1883
1871
1883
1885

$1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
500&C.
1,000
1,000
1,000
1.000
1,000
1,000
50
1,000
50
500 &o.
100
500 &o.
100
100 &o.
100
1,000
1,000
100
1,000
100 Ac.
500 &o.
1,000
1 000

Colum bia dc Port D eposit.—Owns from Columbia, Pa., to
Port Deposit. Md., to miles. Leased to and operated by Pennsylvania
RR. Co. Rental, net earnings. Rental in 1885, $33,150; in 1886. $S1,$107. Capital stock, $497,100; funded debt, $1,882,000, and floating
debt (coupons), $1,004,290.
Colum bus & C in c in n a ti M id lau d . Line of road, Columbus,
0 ;--, to
. Clinton Val.,
» Ml., O.,
w.,I 71
. Uin.
i. Opened in
m m»v.,
Nov., ’84.
o *. OIU
Stock,
UK, 9
$2.000,000.
^.uuu,ueu,
The company has a 50-years traffic agreement with the Baltimore &
Ohio•addCin. W. A Balt, companies. Gross earnings in 1886, $320,259;
net, $112 1 95. Orlaud Smith, Pres., Cincinnati, Ohio. (V. 44, p. 495.)
C o lu m b u s H o c k in g Valley «fc T o led o .—(¿fee Map.)—Owns main
line rrom Toledo to Pomeroy, 257 miles; branches—Logan to Athens, 26:
Logan to Straitsville, 13; Straits’e to Nelsonville, 17; others, 14; total,328
This was a consolidation iu July. 1881, of the Columbus* Hock­
ing Valley, Columbus & Toledo, and Ohio & West Virginia. The stocks
w,ere Purchased aud new consolidated stock for
$20.000,000 authorized; in August, 1885, a stock dividend of 133a per
cent was made, bringing the total outstanding up to $11,696,300 Of
the consolidated mortgage $6,500,000 was reserved to meet the prior
liens, andthe “ Hocking Coal & RR.” joined in making these bonds. The
Central Trust Co. of New York is trustee. The general mortgage of 1884
covers the road, and is also a mortgage on the coal property of the
Hocking Coal & RR. Co.,” whose stock is owned by the C. H. & T.
K A l 0,IU,bl.Ifatl0u was made to 1S85 with the reorganized Ohio Central
py which the oompany will be under one management, as per the circur r.* w w 49’ p'
alld phe C. * H. V. guarantees the Interest on the
f . & o . c. 1st mortgage bonds,
®a.r.uln^ of 1834 were greatly reduoed by the miners’ strike in
the Hocking Valley, lasting from June, 1884, to March, 1885. Annual
report for 1885 In V. 42, p. 517; income for three years was as follows:

Bo nds—Princi*
INTEREST OR DIVIDENDS.
pal,When Due.
Amount . Rate per
When Where Payable ana by Slocks—Last
f Cent. Payable
Whom.
Dividend.

1, 000,000
1,882,000
2 , 000(000

11,696,300
8 , 000,000

1.378.000
1.401.000
777.000
2.500.000
540.000
1.584.000
1,000,000

800.000
1,786,200
302.000
1.500.000
500.000
350.000
325.000
2.500.000
1.500.000
400.000
400.000
350.000
2.370.000
991.000
6 , 000,000

500.000
1.250.000
1.224.000

7 g. J. * J. Boston, Treas.’s Office. July, 1909
6 g. J. & J. N.Y., Nat. Park Bank. Jan. 1, 1916
6
A. & O.
do
do
April 1, 1923
7
F. & A.
Phila., Penn. RR.
Feb. 1, 1893
6
J. & J. N.Y., Farm’s’ L.ATr.Co. Jan. 1, 1914
13% st’k
Aug. 19,1885
5 g. M. & S. N. Y., Winslow, L. A Co. Sept. 1, 1931
do
do
6 e • J. & D.
June 1, 1904
7
A. & 0.
do
do
Oot. 1, 1897
7
J. & J.
do
do
Jan. 1, 1892
7
F. & A.
do
do
Aug. 1, 1905
7
M. & S.
do
do
Sept. 1, 1900
7
M. & N.
do
do
May 1, 1910
7
M. A 8. Bost.,3 Merchants’ Row Sept. 1, 1901
6
J. & J. N. Y.. Nat. City B ’k.
Jau. 1. 1911
2
Q .-M .
Columbus Treasury.
June 10,1887
7
M. & S. N. Y., Am. Exoh. N. B’k Sept. 1,1890
5
M. A N. Boat. AManohester ,N. H. May 1, 1887
7
J. A J. Boat., Treasurer’s office
1894
31« J. A J. Boat. AManohester,N.H. June, 1887
7
A. A O.
New York City.
Oot. 1, 1895
21« F. A A. Boston, 95 Milk Street Feb. 1, 1887
7
A. A 0.
do
April 1,1893
2% F. A A.
do
Feb. 1, 1887
do
6 IS- J. A J.
Jan. 1, 1890
5
J. A J.
do
2
Q.~J. Boston, Springfield, Ao.
6
M. A S. Phila., Penn. ÊR. Office. :
5
1J. A J. Boat..Am. Loan A Tr. Co. July 1, 1913
7
r. a j . 9t. Albans, W. C. Smith.
M. A N. Phila. F. I. T. A S. D. Co.
6
6 g. 1M. A S.
New York Agency.

Concord & C larem on t.—Owns from Conoord to Claremont.
« . H., 56 miles; branch, Oontoocoolrville to Hillsborough, N. H..
miles; leased—Peterboro * Hillsboro RR., 18 miles; total operated,
89 miles. Capital stock. $112,400. Operated by Boston & Lowell RR.
Co. at a rental of $41,500 per year.
Concord de P o rtsm o u th .—Owns from Portsmouth, N. H., to
Manchester N. H.. 40‘s miles.
The road was sold to first mort­
gage bondholders in 1857, and leased to Conoord RR. in 1862 for 99
years. Lease rental is $25,000 a-year, which gives 7 per oent a year to
present stockholders. There is no debt.
Connecticut Central.—Owns from East Hartford, Ct., to Massa­
chusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7
miles; total operated, 28 miles. Leased to NewYork A New England RR.
for 15 years from June 1,1880, the rental to be net earnings, but never
to exceed 6 per oent per year on stock. Capital stock, $448,500. Funded
debt, $325,000, all owned by New York * New England Railroad,
and on suit for foreclosure by the lessee company it was held that they
must account 10 stockholders for the earnings. Gross earnings in
1885-6, $81.912; net, $1,812; interest, $22,750; deficit, $20,938. (V.
42, p. 463, 766; V. 44, p. 275.)
Connecticut & P assu m p sic.—Owns from White River Junotion
Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch
(Canada), 37 miles; total operated, 147 miles. The lease of Massawippi
Railroad is at 6 per cent on bonds and same dividends as are paid on
the stock of the lessee. In March, 1887, a lease of this mad was nego­
tiated to the Boston & Lowell for 99 years on a basis to pay C. A P
stock 5 per cent per annum for ten year* and 6 per oent thereafter.
Gross earnings in 1884-85, $797,528; net, $299,415. Gross in 1885-86.
$758,930; net, $286,981. (V. 43, p. 3 0 8 ; V. 44, p. 400.)
Connecticut IIIver.—Owns from Springfield, Mass., to South VerINCOME ACCOUNT.
nou, Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., South
1883.
1881.
1885.
1886.
Vernon,
Vt., to Keene, N. H., 24 miles; total operated, 80 miles. Fiscal
Receipts—
$
$
„
$
$
year ends September 30. Net earuings, 1885-86, $270,213; 1884-85,
Gross earnings....... 2,779,382
1,842,475
2,311.003
2,361,403 $272,222. Pays regular dividends on stock aud has no funded debt,
Net receipts............. 1,123,812
601,819
977,306
978,010 but notes payable, $509,000. (V. 43, p. 547.)
Disbursements—
Int. on bds. A oar tr.
866,060
C onnecting (P h ilad elp h ia ).—Owns from Mantua Junotion to
866,060
881,564
946,925
Int. on float’g debt..
35,725
56,814
61,586
42,832 Frankford Junction, Pa., 7 miles. A connecting link in Philadel­
Int. to Pa.RR.on l’se
phia
to the West aud South. Operated by Pennsylvania Railroad.
22,628
22,277
22,902
22,?: 81
Miscellaneous . . . . . .
1,490
18,750 Rental, 6 per oent on capital stock ($1,278,300); and Interest on funded
debt ($991,000). The bonds are issued iu series A B C and D, maturing
T, . Tot. disburse’ts.
924,113
1)45,151
970,542
1,031 088 respectively in 1900-’l , ’2, ’3 and ’4.
Balance................... sur.199,399 def. 343,332
sur. 6,764 def 53,078
Consolidated R a ilro ad o f V erm o n t.—Road owned—Windsor,
Vt., to Burlington, Vt., 120 miles; Essex Junction to Rouse’s Point. 65r48;2\2i,P2795%30 0 ,i^ I :) 782’ 783; V*43’ P -452’ 196’ V. 44, p.90.117, total, 185 miles. Leased—Addison RR., 16 miles; Montpelier & White
RR., 6; Montreal & Vt. Junotion RR., 26; Rutland RR., 120 •
O M o ^ n r W ^ 1® ® ! ? * C in c in
« .-O w n s
from Columbus, River S.
& Ch. RR., 43; Vermont & Mass., 2 1 ; New London No., 100*
°i,f4 miles. Leased with Cincinnati Sandusky Stan.
Brat.
& Whitehall RR., 36. Total owned, leased and operated 553
A Cleveland to Indiana Bloomington & Western, May 1 1881 for 33 io
per cent of gross earnings, witlf guaranteeo? ’$80 000 ^ minimum3 miles. Controls also the Ogdensburg & Lake Champlain RR.
This Is the title of the corporation formed on the reorganization of the
on J m h xce®.8 »yer minimum, if any, on 33is basis, this company t S
Central Vermont and Vermont & Canada companies in 1883. On July
1,1884,
the old receivership was finally closed by order of Court and
stwk,f^ ,O W ,(^ L <andabon(ls!^Sl!oOO)<000.1<,Velan<1
Capital
the transfer made to the Consol, of Vermont, which leased all its roads
in perpetuity to the Central Vermont RR. Co. Preferred stock is $750,|0C^ a S !
? 9 ° ° S er’ fhae 000’ with preference of 6 per oent per annum if earned ; common stock,
P ^ y T r g L I z e d T x ^ f o r ^ ^ V e c io s e d June 5,1880?In T tM s Com" $350,000. In July, 1885, the Grand Trunk of Canada purchased a con­
A ll The
^Vrogvess from Good water to Birming- trolling interest in the stook. The Central Vermont, which operated all
this mileage in 1885, reported earnings as $2,533,938 gross and $795,444
net; rent of leased lines $357,750; interest and taxes, $389,633; sur­
plus, $48,061. (V. 43, p. 274, 308 ; V. 44, p. 433.)
C orning Oow anesque de A n trim .—Owns from Coming, N. Y.
to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley,
* X e n ia .—Owns from Columbus, Ohio to X e n ia on in i “ :» 32; total operated, 85 miles. Consolidation (January, 1873)
JCs.°Perated-a s a division of the L ittle M iami and is leased of the Blossburg & Coming RR. and the Wellsboro RR. June 1, 1874.
the Oowanesque Valley RR. was absorbed. These lines are leased to and
operated by the Fall Brook Coal Co., together with 7 miles owned.
Rental paid—6 per cent on bonds, 6 per cent on common stook and 7
per cent on preferred stock; dividends paid quarterly, March 31. &o
Stock-common, $1,500,000, and preferred, $500,000. The coal line of
Phila. & Reading and N. Y. Central is over the road of this company
which jointly guarantees the bonds of the Pine Creek Railroad
Company Earnings In 1885-86, $614,688; net, $202,208; rental
S44, p.652. Income
I al c ^su i / w L a ^ Sfollows3 Anaual
P reP ° « , in V. Paj£ C._C. & A. RK., $ 150,000; surplus to lessee, $52.203. Earnings in
l884-8o, $607,59o; net, $I79,19o; rental paid C. C. & A^lSO.oOOsurplus to lessee, $29,195. George J. Magee, Prest., Watkins, N. Y.
INCOME ACCOUNT.
™C
o?Tln - to,u * M a c o n .—Line of road, Macon. Ga., to Athens, G a.,
1883-84.
1884-85.
1883-86.
1886-87.
Gross earnings..........$1,142,894
$1,100,864 $1,071,963 $1,166,847 a ? ™ ™ ’ Wltb other lines projected. Bonds are Issued at the rate o f
$12,000 per mUe and capital stock $12,900 per mile. Bonds offered in
Net earnings..............
$476 ion
$406,379
$452,573
$479,475 New York, 1886, by Green & Bateman. Douglass Green, is President.
DisbursementsV47b,19°
Rentals..................
$144 593
. C um berland & P e n n sy lv a n ia .-Owns from Cumberland, Md.,
$113,319
$112,532
$113,005 to
Taxes on stock.......
* 37 quo
Piedmont, Md., and several branches, 55 miles. It is owned and
37,755
36,872
37,359 operated by Consolidation Coal Co., which guarantees second mortgage.
Improvements and reserved for imp’s, &c. 143 236
104,091
C um berland V a lley.—Owns from Harrisburg, Pa., to Potomao
152,314
178,074
Dividends, 10 per cent. 150’,000
150,000
150,000
150,000 River, Md., 82 miles; leased—Martinsburg & Potomao RR., 12 miles:
Duisburg & Mechanicsburg RR., 8 miles; Southern Pennsylvania RR.,
$405,165
$451,718
$478,438 23 miles; controlled, Mont Alto RR., 18 miles, but accounts kept sep..............
$1,601
$1,214
$835
$1,037 arate; total controlled and operated, 141 miles. Owns or leases sev«
end factory roads, in aU about 43 miles. The stock is owned in large
*V‘ 42> p- 7 5 2 ; V. 43, p. 210; V. 44, p. 652.)
part by Penn. RR.Co. Large advances have been made to branch roads«




40

INVESTORS’

SUPPLEMENT.

[V ol. X L IV .

S u b s c r ib e » w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In these T ables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
1
Stocks—Last
Where
Payable,
and
byl
When
I
Rate
perl
Par
of
of
Outstanding
DividendWhom.
Cent. Payable
Road. Bonds. Value
on first page of tables.
Cumberland A Pennsylvania—1st mortgage...........
2d mortgage, sinking fund, (guaranteed)......... --Cumberland Valley—Stock ($484,900 is preferred).
lstm ortgage........................... ......................... .
2d mortgage, sinking fund guaranteed.......- .........
Southern Pennsylvania, 1st mortgage, gold........
Danbury A Norwalk—Stock...................................... .
1st ana 2d mortgages.............................................
Consolidated m ortgage.................... - ............
General mortgage...............................- - .................
Dayton A JronUm—First mortgage, gold — - - - - - Daylon A Michigan—Com. stock (3*2 guar.C.H.&D.)
Preferred stock, (8 percent, guar. C. H. & D .)—
3d mortgage.............................................................{
Consol, mortgage, guar, by C. H. & D....................
Toledo Depot 2d mortgage ..................................
Dayton A Union—1st mortgage................................j
Income mortgage bonds........................... .
Dayton A Western—1st M., guar. L. M. and C. Ac X
Delaware—Stock...............................................------Mortgage bonds, convertible, guar. P. W. & B ...
Delaware A Bound Brook—Stock, guaranteed........
1st mortgage............................................................
2d mortgage debenture bonds, reg.......................
Delaware Lackawanna A Western—Stock........ ....
Consol, mort., on roads <feequlpm’t, ($10,000,000
Plain bonds (not mortgage).......................... -----Del. Maryland A Va.—June. & Breakwater—1st M
Juno. <k Breakwater, 2d mortgage.......................
Breakwater & Frankford, 1st mortgage, r e g ---Worcester Railroad, 1st mortgage, coupon..........
Denver A Rio (trande—Stock ($45,500,000)............
Pref. stock, 5 per ct., non-cum. ($28,000,000).-- .

38 1866
38 1868
82
52
52
24
36*2
33 ’70-’72
1880
36*2 1883
155 le85
141
141 1871
142 1869
142 1881
1864
32 1879
1879
41 1864
100
85 1875
31
27 1875
886
288
44
44
19
35
1.317

1877
1872
1860
1879
1873
1876

$ 1,000
1,000
50
500&C.
500 &c.
50
100 &c.
100
1,000
50
50
1,000
1,000
1,000
1,000
1,000
25
500 &c.
....
50
1,000

Too
100

Operations and earnings on the main line for four years past were:
Freight (ton)
Gross
Net ^Div. p .c t .B
’
Earnings. Pref. Com.
Mileage.
Earnings.
Years.
Miles
10
10
30,018.284 $793,063 $223,044
1883
........ 125
213,338
9*2 9*2
27,965,208
768,332
1884
......... 125
8
8
255.811
25,844,869
699.393
........ 125
1885
8
8
196,285
..................
733,708
1880.................. 125
Wilson
D an bu ry Ac N orw
o r w aiK,—uwnn
a lk .—Owns from
irom Danbury,
naumuj, Conn to
^ vrnnw
ii
Point, South Norwalk, Conn., 26*3 miles; branches to Ridgefield ana
Hawleyvllle, together 10 miles; total operated, 30hi miles. In July.
1886, a lease of this road was made to the Houhatonic for 99 years,the
lessee to pay interest and 5 per cent per annum on stock. In lo85-8o
net earnings were $92,510; in 1884-5, $80,129. (V. 43, p. 334.)
D ayton Ac Iro n to n .—Road from Dayton to Ironton, 155 miles.
This company was organized in 1881 as successor to the Southeaster n
Division of the Toledo Gin. & St. Louis RR., sold in foreclosure June 2 6,
1884. Tli© narrow gaugo is ohAQgod to standard, and the total authorlzed issue of bonds i s $ 1,700,000. including $400,000 reserved to pay
old claims. Preferred stock is $2,600,000; common stock, $2,500,000. In
Nov., 1886, It was reported that the Citu Ham. & Dayton had purchased
control of this road. (V. 42, p. 487; V. 43, p. 102, 579; V. 44, p. 400.)
Da

miles

$803,500
392,000
1,777,850
161,000
109|500
625,000
600,000
400;000
100,000
150,000
1,300,000
2,403,171
l,2 li;2 5 0
351,000
2,324,000
53,000
225.000
173.000
495.000
1,537,060
650,000
1,692,000
1,500,000
192,000
26,200^606
3,074,000
600,000
400,000
250,000
200,000
400.000
38,000,000
23,650,0(0

9
6
2*2
8
8
7 g.
2*2
7
6
5
6 g1%
2
7
5
7
7
6
6*7
3
6
2
7
6
1%
7
7
4
4
4
4

M. Ac S.|N.Y., Consol.Coal Office] March 1,1891
Mav 1.1888
do
do
M. Ac N.|
Q.—J. Phila. and Carlisle. Pa. April 1887
A. Ac O. Phila., T.A. Biddle & Co. April 1, 1904
April 1, 1908
do
do
A. Ac O.
Mar. 1, 1900
...............
M. & 8.
Feb.
15, 1887
F. & A New York and Danbury
1890-92
J. & J. N. Y. Nat. Bank Repub.
1920
do
do
J. Ac J.
1925
A. Ac O. N. Y., Bnk of Republic.
J. Ac J. Bost.. Intern’l Trust Co. Jan. 1, 1925
April 1887
A. Ac O. N. Y., H. 8. Ives & Co.
April 1887
do
do
Q .-J .
Oct., 1888
do
do
A. Ac O.
Jan.
1, 1911
do
do
J. Ac J.
March 1, 1894
do
do
M. Ac 8.
J. <fc D. N.Y., Am.Exch.Nat.Bk. Deo. 1, 1909
After 1910
J. Ac D.
J. & J. N.Y., Bank of America. Jan. 1, 1905
Jan. 2, 1887
J. Ac J. Dover, Co.’s Office.
J. Ac J. Phil., Fid. I.T.&.S.D. Co. July l, 1895
May 15. 1887
Philadelphia.
Q.—F.
F. & A. Phila-.,Guar.T.& 8.D.C0. May, 1905
Philadelphia.
M. & N.
Q.—J. N. Y., 26 Exchange PI. April 20, 1887
Sept. 1,1907
do
do
M. Ac 8.
June, 1892
do
do
J. Ac D.
1890
Philadelphia.
J. & J.
1899
do
F. Ac A.
1898
do
J. Ac J.
1896
do
A. Ac O.
::::

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

1

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

® 110*4; 1881, 1 07® 13l; 1832,116*4® 150*4; 1883.111*2®131*3:1884,
86%®133*s; in 1885, 825^1295« in 1886,115@144; in 1887 to May 20,
1313i «13834.
The following is a synopsis of the company’s income account for
four years from the report in C h r o n ic l e , V. 44, p. 273.
1833.
1834.
1365.
1886.
^
^
$
$
Gross reo’ts, all sources. 32,819,606 31,311,992 31,091,677 32,312,865
. 23,093.048 23,008,147 23,220,572 24,954,433
164,029
443,182
385.033
. 1,072,816
. 24,165,864 23,393,180 23,-163,754 25,118,462
. 8,653,742 7.918,812 7,427,923 7,224,403
INCOME ACCOUNT.

Interest and rentals.

1883.
. 8,653.742
. 4,946,943

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

1885.
7,4:7,923
5,187.089

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

dance, surplus......
ividends.................
Rate of dividends...

. 3,706,799
. 2,096,000
8

2,805,4 !0
2,* 96,000
8

2,240,834
1.965,000
7*2

2,037,692
1,834,000
7

. 1,610,799

709,490

275,834

203,692

GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.

1885.
1886.
1884.
Assets—
1883.
$
$
and BinMjmtondoTdelrt,”and~8percent on preferred stook and 3*aper RR. buildings, equip$
$
cent on $1,003,300 common. Of the common stock $1,003,300 only is
m’t. ooa) lands, &c.. 33,089,336 34,250.418 34,508.017 34,496,431
5,374,918 4,770,654
guaranteed 3*2 by C. H. Ac D. Profit to lessee in 1883-84, $161,990; Stks&bds,own’d,cost 6,503,851
5,449,713
*357,562
*897,331
X884-85, $196,387 The lessees hold $1,399,273 of the common stock.
*527,121
Net cash Accur. aco’ ts
*147,987
941,372
1,221,174
1,049,712
1,265,310
D ayton Ac U n io n .—Owns from Dodson, Ohio, to Union Cicy, jnd. Materials, fuel, &o...
41,270,965
41,181,899
41,385,590
82 miles; leased Dayton to Dodson, 15 miles; total opeiated, 47 miles.
Total.................... 4l,oo7,034
The Greenville Ac Miami RR. was sold out Oct. 30,1862. tnd re-organ­
Liabilities
ized as now in Feb, 1863. Operated by trustees since December, 1871. Stook . . .................. 26,200,000 26,200,000 26,200,000 26,200,000
Capital stock, $86,300. In 1883-4 gross earnings were $136,63*; net, Funded d e b t .........
4,044,900 4,044,900 3,674,000 3,674,000
$41,136. In 1884-5 gross earnings, $135,140; net, $45,694.
Surphis
account
”
"
’
10,322|574
11.0321065 11,3071899 11,511,590
D ayton Ac W e ste rn .—Owns from Dayton, O., to State Line, Ind.,
41,007,034 41,276,965 41,181,899 41,385,590
37 miles. Leased in perpetuity from Jan. 1, 1865, to Little Miami, Total liabilities . . . . . .
and oarried with that road in the general lease to the P. C. & St. L. The
* Net balance between liabilities and assets.
lessees are virtual owners and are answerable for all obligations.
(V. 42, p. 155, 2 7 0 , 604; V. 43, p. 580; V. 44, p. 149, 212, 2 7 3 .)
D e la w a r e .—Owns from Delaware Junction (P. W. & B.), Del., to
D elaw are Maryland. Ac V irgin ia.—Consolidation June l, 1383,
Delrnar (Md. Line), 84 miles; branohes, 16 miles; total operated, 1O0
miles. The Dorchester & Delaware and Queen Anne & K. railroads of the Junotion & Breakwater, the Breakwater Ac Frankfcrd and the
now operated by P. W. & B. RR. The Delaware Railroad was opened Worcester railroads. Road extends from Harrington to Rehoboth. Dei.,
1855-60, and is leased for 21 years from 1876 to the P. W. & B. 44 miles; Georgetown to Franklin City, Va., 54 miles; total, 98 miles.
C o.; rental 30 per cent of gross earnings, but stock must have 6 per In July, 1885, the oompany passed into oontrol of the Phila. Wil. <s
cent. Gross earnings 1885-86, $671,738; net, $201,522; interest and Balt. RR and became part of the Penna. RR. system. Earnings for
dividends. $130,734; surplus, $70,547; 1884-85, gross, $144,117; net 1885-86, $149,357 ; net, $27,317; fixed charges, $50,000; def. $77,317.
$193,225; interest and dividends, $130,734; surplus, $62,501.
D enver Ac R io Grande (3 feet.).—(See Man)-Owns from Denver
D elaw are Ac B ou n d ,B r o o k ,—Owns from Bound Brook (Cent City, Colorado, via Pueblo, Saltda, Gunnison, Montrose and Grand
Junction,
to the western boundary of Colorado, where it connects
of New Jersey) to Delaware River, 27 miles; branch, marn line to
Trenton, 4 miles; total operated, 31 miles. In connection with Central with the Denver & Rio Grande Western, to Salt Lake City aud Ogden,
making
the
distance from Denver to Ogden 771 miles, and from Pueblo
of New Jersey and North Pennsylvania forms a line between New
York and Philadelphia. In May, 1879, the property was leased for to Ogden 651 miles. Branches run to Leadville, Dillon, Red Cliff, Crested
Butte.
Silver
Cliff, Chaffee and Hot Springs; also from Pueblo to Silverton,
990 years to the Philadelphia & Reading Railroad Company—the lessee
paying interest and 8 per cent on stock after May, 1883. Gress earnings via Cuehara, Alamosa and Durango, with branches to El More,Española,
Del
Norte
and
Wagon Wheel Gai>; tot. operated Dec., 31. ’8 «. 1.317 miles.
In 1885, $689,432; net, $381,916. In 1886, gross. $736,110; net,
Default was made on the mortgage interest due July 1,1884, and fore­
$397,829; rental $257,880; net profit to lessee, $139,949. (V. 44, p,
closure
was
made
under the old cons, moitg., and the road was sold July
211 . )
12,1866. for $15,000,000. Reorganization was made July 12, 188b,
D elaw are L a ck aw an n a & W este rn .—(See Map).—1This company under
the
title
of
Denver & Rio Grande Railroad Co., and W. 8.
operates under lease an extended system of roads in New York, Penn­
elected President.
, ■ - _
■. j. .
sylvania and New Jersey. Owns from Delaware River (N. J.dine) to New Jackson
Of
the
$42,000,i
00
4 per cent consolidated gold bonds authorized
York State line. 115 miles; branohes—Scranton to Northumberland, $6,382,500 were reset ved
to
retire
the
old
bonds
when
due;
$6,900,000
80 miles; Greenville to Winton, Pa., 8 miles; to Stores, 3 miles; Junotion retained for acquiring the Denver & Rio Grande Western or
to Keyser Valley, Pa., 5 miles; leased lines in New York—N. Y. Lack. & to
the Denver & Rio Grande to Ogden; and $6,142,500
Western RR., 214 miles; Cayuga Ac Susquehanna RR., 34 mues heldextend
the treasury, which can be issued for future capital requirements
Greene RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica or theinconstruction
of branches, but only with the consent of pref. stock­
Chenango & Susquehanna Valley RR., 97 miles; Valley RR., 12 miles
Of the $45,500,t 00 common stock, $7,500,000 to be held to
controlled and operated—Syracuse Binghamton & New York, 81 miles I holders.
acquire
the
Den.
&
Rio Gr. West., or to build the hue to Ogden, and $4.leased lines in New Jersey—Chester RR., 10 miles; Morris Ac Essex, 118 350,000 of pref. stock
reserved for the same purpose. The rolling stock
miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, 30 is owned by the company;
and after reorganization the total annual
miles; Passaic Ac Del., 14; total operated, 886 miles; the Rome & Chn.:
13 miles, and Utica Clin. Ac Bing., 31 miles, were surrendered April, 1883
In 1882 the important connection to Bufialo, the N. Y. Lack. <&west
CUUO 0)1.0 p«tU DUOwv aavm/
-------------7 - --- i . i
was opened, and the road was leased by this company. The Lackawanus U
stock, after which the directors shall be chosen by all the stockholders.
i Bloomsburg was consolidated with, this company June 1 9 ,187J.
Gross earniugs for three month from Jar. 1 to March 3 1 ,1887, were
The Delaware Lackawanna Ac Western Railroad publishes no annual $1,701,311,
against $1,329,834 in 1886; net, $684,992, against $109,report in pamphlet form but merely a circular showing income
account ana balance sheet. The road was operated mainly as a coal 417
Earnings,
expenses
and net income for four years were as follows, no
carrier and distributer till 1882, when the line from Binghamton to
Buffalo was built and leased to the Delaware Lackawanna & Western, earnings or expenses of the LJtali leased lines being included in lo o * o
and the company entered the held as a competitor of the trunk lines 1885'
1886.
1885.
1883.
1884.
between New York and Buffalo.
'
..
1,317
1,317
1,679
1,317
The Delaware Lackawanna & Western formerly paid 10 per cent on its Miles oper. Deo. 3 1 ...
$
$
$
P
stook, but its numerous railroad leases became onerous, and in the dull
6,738,077
6,119,054
5,552,103
times, 1876 to 1880, no dividends were paid: in 1880 3 percent was Total gross earnings.. 7,361,546
4,227,417
3,935,273
3,758.530
paid; in 1881. 6%; in 1862,1883, and 1884, 8 ; in 188a,7 $ ; m 1886, 7 Operating expenses .. 4,743,111
Prices of stock yearly since 1870 have been: 1871,102® 111*2; 18/2
2,510,660
2,183.781
1,793,573
91®112*2; 1873, 79*33106; 1874, 9931123s; 187o, 10b*2®123; 1876. Set earnings............... 2,618,435
02-74
64-31
7-70
64-43
64 *3 ® 1203s; 1877, 3078®77; 1878, 41 ®617s; 1879, 43®94; 1880, 68*3 P. c. of exp. to earn’s.




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'V’lnctnnes

SeymoGrJhr^C t+ - C1HCW
f»\ -Madison
Mïtchell \ J

tysrilkr
Jeffers,

Huntlngburi




'/Q a G n u ig e

.OUISVhlE

Lebanon
Lancaster

Shippenstmra

---- ^
(Connellsv>Tle
V
/jtineraWt .Je.
v /x _ /| H ]r n d in a n

CoatesvHle'
S tsion

Gettysburg

\l ’Wayjesb’g

■nseild]

Sircleville]

Columbi

HARRISBUR'

Frederick
iChillicoflhe.

.MÜNTCU,

Athens'

7 Hamden
’om e ro jife .

SAUL -!

M onocacy

'Graftom

MAP OF THE

'

DELAWARE, LACKAWANNA
^ WESTERN R. R.
Huntington’
AND ITS CONNECTIONS.

Carrington]
WASHINGTOI

ixford

ICxandrii

lisbury
Fredericksburg

Ylnelan)
(ridgethn—

49




INVESTORS’

SUPPLEMENT.

[VOL. X L 1V .

RAILROAD STOCKS AND BONDS

Ma y , 1887.]

43

Subscriber« w ill confer a treat favor by givin g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
INTEREST
Miles Date Size, or
Amount Rate pei When
of
Par Outstanding
For explanation of column headings, Ao., see notes of
Boad. Bonds Value.
on first page of tables.
Cent. Payable
jDenv. d Rio Grande—( Continued)—
1st mort., gold, sinking fund.................................. 295 1870
Consol, mortgage, gold (for $42,000,000)............. 1.317 1886
Denv.d R.Gr.West.—1st, g. ($16,000p.m.),cp.or reg. 370 1881
1885
Coupon certificates (see V. 41, p. 2 7 3 )..................
Denver South Park <£P a e—1st JVI. gold, sinking fd. 150 1876
Consol, mort. gold ($17,000 per mile)................... .... 1880
Denver Texas <£Fort Worth—Stock (for $30,000,000)
1885
Denver Texas <£ Gulf—1st M. (for $12,000,000)....
88 1874
Des Moines d Ft. Dodge—1st mort.. coup., guar......
88 1874
1st mortgage, income, guaranteed by C. R. I. & P.
56 1881
Mortgage on extension, guaranteed by C. R. I. A P.
Des Moines Osceola d Southern—1st M.($6,000p.m.) 111 1880
Detroit Bay City <£■Alp.—1st M., g. ($15,000p. m .).. 170 1883
Detroit Grand Haven <£Milwaukee—S tock ................ 189
1st equipment mortgage, guar................................. 189 1878
189 1878
Consolidated mortgage, guar............................... .
65
Detroit Hillsdale <C& IF-.—Stock.................................
....
....
Detroit Lansing <£ North.—Stock, oommon................ 261
261
Preferred stock........................................ .
....
1st mortgage............................................................. 222 1877
59 1869
Ionia A Lansing, 1st mort., coup., may be reg__
Saginaw A West, mort., guar. ($15,000 per mile)..
32 1883
Dubuque d Dak.—1st M., gold. gu. (payable at 103)
63 1879
Dubuque d Sioux City—Stock...................................... 143
....
1st mortgage, 2d division........................................
43 1864
Notes to retire 1st mortg. (redeem, at pleasure).. .... 1888
Duluth d Iron Range—1st mortgage........................
....
Duluth South Shore d Atlantic- S tock..................... ....
....
Stock, pref., 6 per cent.............................................
—
1st mortgage, gold................... ...............................
.... ....
Land grant bonds (income).................................... . . . . 1881
Duluth d Winnipeg—1st mortgage, geld, land grant
1881

$500&o. $6,382,500
1.000 22,575,000
1,000
6,900,000
300
(?)
1,000
1,800,000
1,000
2,925,000
""
In trust.
1,000
1,200,000
1.000
1,200,000
1,000
672.000
879,000
1,000
2,300,000
50
1,500,000
1,000
2,000,000
200 Ac.
3,200,000
1,350,000
100
1,825,600
100
2,510,000
500 Ac.
2,487,000
1.000
770.000
1,000
566,000
1,000
630,000
100
4,999,950
500 Ao.
586,000
295,000
___
1,750,000
12,000,000
....
10,000,000
....
4,000,000
1,000
4,550,000
1,000 18,000 p.m.

7
4
6
5
7
6

whom.

g. M. A N. N. Y. Offloe, 47 Win. st.
g. J. A J.
do
do
8• M. A S. N. Y., 4th National Bk.
M. A S.
do
do
M. A N. N.Y., Loudon* Frankf’t
ft. J. A J. N. Y., Co.’s Agency.

e " A. A O.
4
J. A J.
2 ia J. A J.
4
7
J. A J.
6 8• J. A J.
2
6
A. A O.
6
A. A O.
2
J. A J.
3
F. A A.
3*3 F. A A.
7
J. A J.
8
J. A J.
6
J. A J.
6 g. J. A J.
5
A. A O.
7
J. A J.
5

Bonds—Princi pal, When Due.
Stocks—Last
Dividend.
Nov. I, 1900
Jan. 1, 1936
Sept. 1, 1911
At will.
May 1, 1905
Jan. 1, 1921

Oot., 1921.
N. Y., Morton, B. &Oo. June 1, 1905
do
do
June 1, 1905
do
do
June 1, 1905
Last paid Jan. 1885
1896
1913
Deo. 31, 1884
New York & London. Nov. 14,1918
do
do
Nov. 15,1918
N. Y., Farm. L. A Tr. Ci July 5, 1886
Boston,
Feb. 15, 1887
do
Feb. 15, 1887
Boston, 2d Nat. Bank, Jan. 1, 1907
do
do
July 1, 1889
do
do
July 1, 1913
July 1. 1917
May 14,1887
do
do
July, 1894
1888

5 g.
New York, Agenoy.
7
A. A O.
6 g. M. A N. Î

1936
Oot. 1, 1911
May 1. 1911

INCOME ACCOUNT.

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

1893.
$
2,618,435
114,531

Total income...........
Disbursements—
Interest on debt........
Ren’l of D.R.G. W. RR.
Taxes and mlsoellan’s

2,036,813
317,752
246,234

Total disbursements..
Balance, surplus ...

2,600,799
132,167

2,732,966

Des M olues Osceola Sc Southern. -Projected from Des Moines
la., to Kansas City, Mo., 300 miles, of wldoh 111 miles, Dos Moines to
1885.
1886.
Cainsvllle,
Mo., is built. Iu Aug., ’84, consolidated with Wis. Ia. A Neb.
$
$
2,183,780 2,510,661 RR. Iu April, 1885, a receiver was appointed. Stock issued, $500,000;
bonds,
$6,000
per mile. The road w is sold In foreclosure March 1.
67,227
46,739
1887. (Y. 42, p. 22, 549; V. 44, p. 10, 308.)
1,827,974
2,251,007 2,557,40)
D e tr o it R ay C ity Sc Alpena—(See Map).—From Alger, on Mich.
Ceut. RR.. to Alpena, 105 miles; Loon Lake Branch, 18 m,: Mud Lake
( 677,697 Branch,
20 m.; other branches 27 miles; total] road 170 miles. Has a
572,364
225,213 )
( *520,928 traffic oontraot from Mich. Central. The mileage operated In 1886 was
83 miles: the gross earnings were $242,061; net, $120,420. Stock author­
572,364 1,198,625 ized is $2,000,000, issued $1,533.000. The mortgage covers road and
1,678,643 1,358,775 equipment at $15,000 per mile. Gross earnings from Jan. 1 to March
31 In 1887 were $90,248, against $35,967 in 1886; net, $47,089. against
(V. 42, p. 728; vT 43, p. 572; V. 44, p. 308, 335, 343, 553.
V. 44, p. 21, 59,117, a i l , 244, iöö) $18,939.
o21.)
1884.
$
1,793,573
34,401

p. 49, 73, 131, 487, 547, 608, 745 ;
586, 6 52, 653.)
Denver A R io Grande W estern (n a rro w gauge),—The mort­
gage covered lines in Utah Territory of about 469 miles in all, of which
there were completed to Jan., ’87,312 miles, Colorado State Line to Ogden,
Ut., 312 miles, Bingham Junction to Alta, 18 miles; Bingham Junc­
tion to Bingham, 18 miles; P. V. Junction to coal mines 19 miles; other
nt 8> ^ miles—total, 370 miles. The stock issued on 469 miles is
$7,500,000. About $1,000,000 bonds have been issued on road only parreceiver“ / t h e d & r Au^ wt> 1884> W. H. Banoroft was appointed
Bondholders have generally accepted the proposal of August. 1885
viz., that the coupons from Sept. 1.1886, to Sept. 1,1888, inclusive,
shall be paid one half in cash and the coupon of March, 1889 threefourths cash, full Interest being resum d with Sept., 1889. Scrip bearing
5 per cent is given for the coupons to Sept., 1885, and for the portion
unpaid of those up to Sept., 1889, this scrip may be redeemed at company s option by payment in full, and no dividend on stock can be paid
tilt it is redeemed. The full interest on bonds is $414,000, but under
^ I»1» « J t was to be $205,689 in 1886, $253,573 in 1887, $263,925 in
1888, $428,283 in 1889, and afterwards $414,000 on the bonds, and 5
per cent on the funding certificates amounting to $67,275 per year,
li all the certificates are then outstanding.
J
ibAprU. 1886, an agreement was made to work harmoniously with
uie JD. <x xv. Or.
*
The gross earnings for year 1886 wu-e $1,057,093; net, $361,099.
Bental for rolling stock sinoe July, 1886, has been out of the expenses.
‘ i ^ « m o n t h s from Jan. 1, 1887, gross earnings were $226,822,
11,458 ; net> $36,234, against $58,823. (V. 42, p. 93 124
6M > L 2i 1 4664)30’ 447’ 4875 V’ 4 3 ,p - 73>244, 634, 6367
44, p 59,’

D etroit G rand H av en Sc M ilw a u k e e .—Owns from Detroit,
Mich., to Grand Haven, Mich., 189 miles. This is a reorganization o f
the Detroit & Milwaukee which was sold in foreclosure Sept., 1878,
The bonds were guaranteed by the Great Western of Canada. Gross
earnings from Jan. 1 to Maroh 31 were $56,080 in 1887, against
$55.698 in 1886; net, $8,753. against $12,342. Gross earnings In 1886,
$1,244,033 ; net, $372,773. In 1885, $1,154,640; net, $314,860.
..P .e t r o lt H illsd a le Sc Southw estern.—Owns from Ypsilantl.
Mich., to Bankers, Mioh., 65 miles. The Det. H. A Ind. road was sold
m foreclosure Deo. 28,1874, and this company organized by the bond­
holders. In Aug., 1881, leased In perpetuity to the Lake Shore A Mich,
Southern Co.; the rental is $54,000 per year—4 p. ot. (V. 43, p. 399.)
D etroit L an sin g Sc N orthern.—Owns from Grand Trunk
Juno., Mich., to Howard City, Mich., 157 miles; branches—Stanton Juno.
toBig Rapids, Mich., 63 miles; Beldlng Branch,
miles; leased, Grand
Trunk Juno, to Detroit, 3 miles; Lansing to No. Dansiug, 1 mile;
Aluia to Howard City, 43 miles; total operated, 268 miles. A consolidation, April 11,1871, of the Detroit Howell A Lansing, the Ionia
A Lansing and the Ionia Stanton A Northern railroads, under the name
of Detroit Lansing A Lake Michigan RR., which was sold in foreclosure
Bee. 14,1876, and new stock issued as above. In July, 1883, leased
the Saginaw & Western and endorsed the bonds.
The annual report for 1886 was in V. 44, p. 535. Income account as
follow s:
INCOME ACCOUNT.

_ . ,
.
1883.
1884.
1885.
1886.
Total gross earnings........ $1,596,444 $1,328,592 $1,228,470 $1,226,536
Netinc°me ....................... $542,839
$463,322 $457,199 $498,717
P®J^TerT,S o u tl^ ? a r k * p a c lfle (3 ft.Y -(S ee Map o f Union
tnsbuisements —
S f t J nveii CSrL’ to Nathrop, 137 miles; Nathrop to Gunnison, 65 Interest on debt................ $248,335
$265,894 $267,019 $265,985
^
n*to Mount Carbon, 17 miles; Garos to London Junction, Dividends*.....................
284,995
230,165
175,700
230,465
io
.° rn,0v,? keystone, 3o miles; Bear Creek Junction to Morrison,
q , Dili©», Dickey to Leadville, 34 miles; Como to Mines, 4 miles •
Total disbursements. . $533,330
$196,359 $142,719 $496,450
8chwanders to Buena Vista, 4 miles; total, 322 miles. Stock owned by
Balance, surplus...............
$9,509 def.$33,037
$14,480
$2,267
* m
K M
’ 1p n 1«0 0 tOUta i $6,235,400, and consol, mort. bonds
stock o’^ b o n d «^ ^ ' af*1’ert te<8 the road>
bas made no guaranty of the . * Iu 1883, 6 on com. and 7 on pref.; in 1884, 3 on com. and 7 on pref.:
TT^Tr,
’ an4 after paying unearned interest for some years the in 1885, 7 on pref.; in 1886, 7 on pref. and 3 on com.
gross
mterest * ° by d efa u lt/In 1886 —(V. 42, p. 186, 5 18; V. 44, p. 585.)
S e r h it e l^ r ie
;T
de^ l on operations, $46,304; deficit un® “ bu9 ue * D a k o ta .—Owns from Waverly to Hampton, 41 miles,
$347,804. In 1885 gross earnings, $1,145.494; deficit auu from Sumner. Ia., to Waverly, Ia, 23 miles. Built on the old grading
f g f f V9. k t p . 586^627,“ I®?.® ’ &C” $320,86<J- <V- 42>p. 519, 548, 631, of the Iowa Pacific. The Dubuque A Sioux City Co. guarantees the bonds
issued for construction to the extent of $10,000 per mile. Bonds may be
ir ^ p T m b lr W v ^ 8 u> F ? rt W o r t h .—incorporated in 1887 to build Pl^Iuuatany time at 105. Pref. stock $420,000 and ordinary stook
Gross earnings in 1884, $71,720; net, $23,073. Gross in
C a p ita lS
non non 0 <?ee^0n wl,]tl the Kort Worth & Denver.
499 al t0Ck “ 30,000,00°- See Chuokicu. : of April 16, 1887, Y. 44, p, 1885, $67,783; net, $8,179. (Y. 44, p. 526.)
D ubuque Sc Sioux City—(See Map of Illinois Central).—Owns
G u lf’;T'I^'0j ected from Denver, via Pueblo to the iTom Dubuque, Iowa, to Iowa Falls, 143 miles. The former Dubuoue As
“ an Riv 350 miles, and to Jan.1,1887, Denver to Pueblo 1‘’ 4 miles Pacific was foreclosed in 1860, and present company organized. Leased
and 13 miles branches, had been completed. Built by a Construction to Ulinois Central till Oct. 1, 1887, and in April, 1887, the stock was
Company. See circular in V. 35, p. 601. In 1883the Constractton Pn ?°»Tt0 .S S I8 Central, and the surplus in hand divided to stockholders,
w e r ^ o ld b v ^ e M e ^ d tN’ 2^ ’0? 0^boilds and $2,540,000 stock pledged in May, 1887, 5 per cent in stock of Iowa Land A Loan Co. was paid to
S in I n ( f io fd
S ^
.??• 0118ePt- 20. On March, 18, 1886, stockholders. Gross earnings in ’85, $909,472, against $945,950 in’86.
,1# ? ? f eiltalftom lessee $290,317; other income, $24,834; total net,
issued at the S
^
3nnn and
company organized. Bonds are
T h e b o n d s a o f l pe^ “ l11®’ Jand *15,000,000 is authorized SJ5Bl &,X51; Interest paid, $55,219; miscellaneous, $6,689; balance sur­
plus. $61,909. There was some contest for the stock in 1886 and stockroad i!
t h e n w / n * 0 * ^ ° { &tr*istee’ to be h®l d l l u ^ e holders were invited to deposit their stock with Drexel, Morgan A Co.,
—(Y, 42, p, 338 393 )*
Jno. Evans, Pres t, Denver.
with power to sell the stock at par or to make a new lease. See V. 44.
Dodg" ? o w “ e8 7 ^ i i ,s01,4 ) i ? o d g e ,T 0wn8 110111 Dea Moines to Fort 627 ) M‘ K‘ Jesup’ Pre8t< <v - 43» P- 766; V. 44, p. 21, 235, 362, 433,
D u lu th Sc Iro n R a n g e .—(V. 44, p. 653.)
£ l o ? S ' S D e iT o t o “ - 4 ® SPa“ S ™ I? m m .
D u lu th South Shore Sc A tlan tic—(See Map).—'This companv is
??Ciu^8l 0ir ^othe Det. Mac. A Mar., sold in foreclosure Oct. 20,1886. The
"• m . <* M. land grant was originally 1,320,000 acres covered by the
land grant mortgage, except that 409,000 acres were subject to a certain
extension
bonds,
be l8t mort& and agreement. (See V. 43, p. 634.) Jas. McMillan. Detroit. President; C. 8.
Gross ear
nines and
from2i®
Tper
. ? «cemlopreannnl*ereHi?Ui
w . per annum on the incomes.
p 275 ) W York' Vice-President. (V. 43, p, 274, 479, 515, 634; V. 44,
$81,829 in 1886; net, $15,489 a g a in st^ S ig io^ ’in T s s « 79’ 186' agaIn8t
v,
W in n ip e g .—Projected from Duluth to Manitoba
E ? S i t 0’
280 miles. The land grant amounts to 1,800,000 acres,
which is subject to the first mortgage. The stock ia $5,000,000. Wm.
W. Spalding, President,IDuluth.
iV" ^







RAILROAD STOCKS AND BONDS.



46

INVESTORS’

SUPPLEMENT.

[Vol. XLIV.

Subscribers w ill cooler a great favor by givin g Im m ediate notice of any error discovered In tbese Tables*
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size or
pal, When Due.
Amount
of
Par Outstanding
For explanation of column headings, Ac.,see notes
of
Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
Dividend.
on first page of tables.
Whom.
Cent. Payable
Dul. ct Winnipeg tOontin’d)—2d mortgage, income.
Dunkirk AUegh. Valley <t Plttstmrg-^lBt mort., gold
9Ó 187Ò
90 1870
2d mortgage...............................................................
90 1870
3d mortgage..............................................................
30 1873
East Broad top.—1st mortgage, registered.............
....
36
East Pennsylvania—Stpck..........................................
36 1858
1st mortgage.......... . ’ ...............................................
East Tennessee Virginia <£- Georgia—Common Btock. 1.123
1st preferred stock (5 per ct. non cum.)...... ......... 1.123
1.123
Consol, mort., gold (for $20,000,000) coup, or reg. 1.123 1886
Consol, mort., ••Divisional” bonds......................... 552 1880
Old 1st mortgage sinking fund bonds.................... 242 1870
95 1879
Alabama Central, 1st mortgage, gold, coupon___
66 1885
...........................
East <t West Ala. —1st cons. M., gold ($15,000 p. in.). 112 1886
Eastern (Mass.)—Stock................................................ 285
1886
Preferred stock, 6 per cent......................................
Essex R R.lst mort. (extended for 5 years in *86).
1851
1876
Certificates of indebtedness, $ & £ ........................
Eastern (N. PL.)—Stock................................................
16
94
Eel River—Stock...........................................................
Elizabeth. Lex.dkBig Sandy—lstm ortg., gold..........
110 1872
Elmira Cortland ct Northern—1st pref. mort.......... 120 1884
120 1884
1st mort.....................................................................
Elmira ct. Lake Ontario—Stock..................................
93
Sodus Bay & Southern 1st mortgage, gold..........
31 1884
77
Elmira ct Williamsport—Stock, common..................
....
....
77
Preferred stock.........................................................
1st mortgage bonds..................................................
77 1860
1863
Income bonds, 999 years to run.............................
....
Erie ct Pittsburg—Stock............................................... 100
2d mortgage, convertible........................................ 81!fl 1865

$ ....
$7,000 p.m.
1,000
2,000,000
7 g. J. & D. N.Y., N.Y. Cent. A Hud.
1,000
A. A O.
do
do
1,000,000
7
1,000
A. A O.
do
do
200,000
7
1,000
4
J. A J. Philadelp’a, Co.’s Office.
500.000
50
J. A J. Phila., by P. A R. RR.
3
1,714,950
100 Ac.
M. A S. Phila., P. A R. office.
495,900
-7
100 27.500.000
100 11,000,000
18.500.000
1,000 12.770.000
5 s. M. AN. N. Y., Central Trust Co.
1,000
J. A J.
do
do
5
3.106,000
1,000
do
do
J. A J.
3,123,000
7
1,000
do
do
J. A J.
6
1,000,000
1,000 Knoxville
mort.,
A J.gold do
do
2,000,000A Ohio,
6 1st
g. J.
1,000
New York Office.
6 g. J. A D.
1,109,000
100
J. A J.
Boston.
3
4,997,600
100
Vf. A S.
do
3,150,000
3
100 Ac.
do
•194.400
4 ^ M. A S.
500 Ac. 10,000,000
6 g. M. A 8. Boston and London.
100
492,500
21* J. A D. Boston, by Treasurer.
100
Q .-M . Boston, by Treasurer.
1
2,792,800
1,000
6 g. M. A S. N. Y., Mills Building.
3,282,000
A. A O. 115 B’way, New York.
6
750,000
do
do
1,250,000 3, 4 ,5 J. A J.
100
Baltimore, N. Cent. RR.
1,500,000
1,000
500,000
5 g. J. A S N. Y. Pa. RR. Agency.
50
2«fl M. A i Phila., Penn. R. R. Co.
500,000
50
do
do
500,000
3*2 J. A
1,000
do
do
J. A i .
6
1,000,000
500
do
do
A. A O.
5
570,000
50.
Q
.-M
.
N.
Y.,
Union
Trust
Co.
1,998,400
1»4
lOOAc
do
do
A. A O.
7
91,800

June, 1890
Oct. 1, 1890
Oct. 1. 1890
July 1, 1903
Jan. 18, 1887
Mar. 1, 1888

Nov. 1, 1956
July 1, 1930
July 1, 1900
July 1, 1918
July 1, 1925
Dec. 1, 1926
July 15.1873
Mar. 1, 1887
Sept. 15,1891
Sept., 1906
Dec. 15,1886
Aug. 15, 1884
Mar. 1,1902
April 1, 1914
April 1, 1914
July
May
Jan.
Jan.
Oct.
Mar.
Mar.

1, 1924
1, 1867
1, 1887
1, 1910
1, 2862
10,1887
1. 1890

D u n k irk A llegh en y V alley A P ittsbu rg. —Owns from Dun­
kirk, N. Y., to Oil City, Pa., 107 miles. A consolidation of the Dunkirk
Warren A Pittsburg and Warren & Venango in 1872. Is leased to N. Y.
Central & Hudson River Co., but accounts are kept separate. Capital,
$1,300,000. There is usually an annual deficit below the interest charge,
but the N. Y Central & Hudson River Co. hold $2,920,000 of the securi­
ties. Gross earnings in 1885-C ' $227,494; deficit under operating
expenses, $8,347. Gross in 1884-ow, $216,796; deficit, $6,769.

in exchange for $3,150,000 of certificate of indebtedness, at par, thus
reducing those certificates to $10,000,000, to enable the company to
resume dividends on the common stock, according to the agreement
under which the certificates were issued.
The last aimual report for the year ending Sept. 30,1886, gave the
following result of operation with Boston & Maine. Surplus income
divided, in accordance with the terms of the lease, as follows;
To Bos. & M. To Eastern.
& Maine Railroad (9 p. c .)...................... $630,000
$ ..........
Bast B road T o p (P a .)—Owns from Mount Union, Pa., to Roberts- Boston
Eastern
Railroad.....................................................................
100,000
dale, Pa., 30 miles. A coal road, opened in 1874. The stock is $815,602, Boston A Maine Railroad (1 p. o . ) .. . .................... 70,000
............
La, 1884-85 gross earnings were $89,070; net, $16,003. In 1883-84, Eastern
Railroad,
balance.....................................................
321,340
gross, $85,539; net, $19,405.
$121,340
T ota l..:................................................ ........... $700,000
Bast P en n sylvan ia.1—Owns from Reading, Pa., to Allentown, Pa.,
36 miles. It is leased for 999 years from May 1,1869, to the Philadel­ —( V. 42. p, 694 ; V. 43, p. 579, 634, 671 ; V. 44, p. 149,184, 275.)
phia A Reading RR., at a rental of 6 per cent per annum on the stock
B a s te r n (N . H .) —Owns from Portsmouth, N. H., to Seabrook
and interest on the bonds. Austin Corbin, President, Philadelphia.
(Massachusetts State Line), 16 miles. It was formerly leased for 99
to the Eastern (Mass.) Railroad, and a new lease was made from
Bast Tennessee V irgin ia & G eorgia.—(See Map.)—The East years
1,1878, for 60 years and two months at $22,500 per year, equal to
Tennessee Virginia A Georgia Railroad was formed by a consolidation Oct.
July 20,1881, and owns the following: Bristol to Chattanooga, Tenn., 242 4!a per cent per annum. Moody Currier, President, Manchester, N. H.
miles; Morristown to Unaka, 44 in.; Cleveland to Selma, 264 m.; Selma to
E e l R i v e r . —Owns from Logansport., Ind., to Butler, Ind., 94
Meridian, 113 m.; Ooltewah to Cohutta, 11 in.; Rome, Ga.,to Macon. 159 miles. This was formerly the Détroit Eel River A Illinois Railroad,
in.; Macon to Brunswick, 190 m.; Cochran to Hawkinsville, 10 m.; total, sold under foreclosure July 6, 1877, and reorganized under présent
1,033 miles. Also operates the Knoxville A Ohio road, 66 miles, the lines name Dec. 10,1877. In August, 1879, it was leased to the Wabash St.
of the Memphis A Charlest’n RR., from Chattanooga to Memphis, Tenn., Louis & Pacific Railroad for 99 years, at a rental of 3 per cent per
310 in., ana the Florence and Somerville branches, 20 miles, in all 330 annum on the stock for two years, 4 per oent for three years, and 4*a
miles, making a total of 1,429 miles.
per cent thereafter. Default by lessee on the rental was made in
A lease of the Mem. & Char. RR. was an operating lease simply, and 1884.
various differences were settled by the acquisition or a majority of the
E lizab eth to w n Lexin gton & B ig Sandy.—Road owned Jan.
capital stock of the Mem. & C. Co. by parties controlling the E. T.Va.AGa. 1887,
Lexington to Junction, with A.C. & I. Co., near Denton, 102 miles
The E.T.Va.& Ga. holds a majority or the K. A O. stook.
C. A I. Junction to Big Sandy River, 7 miles; total owned 110 miles
This company, the E. T. Va. & Ga. Railway Co., was formed in 1886 as A.
Leased
Junction with A. C. & I. Co., near Denton to A. C. & I. Juno., 21 m.
successor or the E. T. Va. A Ga. Railroad, which was sold in foreclosure West Side
Big Sandy River to Huntington, 9 miles; total operated, 139
May 25,1886. The first preferred stook is entitled to a non-cumulative miles. Charter
permits extension to Elizabethtown. It is the connect­
dividend of 5 percent, and has “ the right for five years (till 1891) to ing line of the Chesapeake
Ohio and controlled by the same parties.
elect a majority of the Board of Directors of said company, unless be From Feb. 1, 1886, this roadA was
leased for 250 years to the Newport
fore that time the said company should pay out of its net earniugs 5 News A Miss. Valley Co. on the basis
paying the annual net surplus,
per cent dividends on such preferred stock for two full successive years ” if any, to tills company. Authorized ofcapital
$5,000,000. Amount
In January, 1887, a sale was made of $6,000,000 of the first pref. issued $3,378,000, and $131,695 to be issued. isFor
three months from
stock to the Richmond & West Point Terminal Company thus giving Jan. 1, 1887, gross earnings were $226,700, against
$197,193; net,
them control of the road for five years. (See V. 44, p. 119.,)
$61,594,
against
$59,870.
For
year
1886
gross
earnings
$937-,
Gross earnings for nine months from July 1 were $3,624,997 in 529; net, $333,616; rentals and taxes, $48,266; interest,were
1886-7, against $3,237,652 in 1885-6; net, $1,442,423 in 1886-7, against surplus, $24,970. (V. 42, p. 60, 124, 242, 338, 365, 4 6 1 , 691;$196,920;
V.
44, p.
$1,289,970 in 1885-6.
The fiscal year ends June 30. The annual report for 1885-86 was 90, 343, 344.)
published in the Chronicle, V. 43, p. 605:
E lm ira Cortland & N orthern.—Elmira. N. Y., to Canastota, N.
Y., 120 miles, of which Elmira to Horseheads, 5 miles, and Cortland to
INCOME ACCOUNT.
De Ruyter, 20 miles, are leased for 499 years. Organized May
11,1878, as successor of the Utica Ithaca & Elmira RR. Co., foreclosed
Receipts1833-84.
1884-85.
1885-86.
Total gross earnings..................... $4,173,263 $4,021,567 $4,119,578 April 30,1878. Again sold in foreclosure Feb., 1884, and re-organized
as
at present. The 1st mort, for $1,250,000 bears 3 p. ct. for 3 years, 4
Net earnings.................................. $1,650,308 $1,140,589 $1,382,751 p. ct.
for 2 years, then 5 p, ct. Stock is $2,000,000. Gross earnings in
Disbursements—
1884-5, $325,147; net income, $79,316; interest, taxes, Ac., $75,906;
Interest on debt............................. $1,402,995 $1,463,651
............ surplus, $3,411. Gross earnings in 1885-86, $369,265; net income,
Other payments.............................
49,617
209,967
$29,931; interest, taxes, Ac., $66,812; def., $36,882. Austin Corbin,
President, New York Citv.
Total disbursem’ts................... $1,452,612 $1,678,618
E lm ir a <fc Lake O n ta rio .-O w n s from Canandaigua, N. Y., to
Balance...........................................sur.$247,313def.$390,275
Watkins, N. Y., 47 miles; to Chemung Junction, 17 Lj miles; Sodus
—(V. 42, p.60, 124, 155,186,207,272,364, 430, 463, 479, 549, 575, 631, Point to Stanley, 34 miles—total, 98 miles. This company was a con­
652,663, 694, 728, 782, 783 ; V. 43, p. 22,125, 217, 598, 6 0 5 , 607, 634, solidation in December, 1836, of the Elmira Jefferson & Canandaigua,
718, 619; V. 44, p. 90,119,149, 184, 211, 343, 494, 621.)
the Sodus Bay & Southern and the Chemung Railroads, with stock and
bonds as above. Ic is leased at cost of operating to the Northern Cen­
Bast dc W e st R R . Co. o f A la b a m a .—Road will extend from tral, which controls the stock.
Gainesville, Ga., to Birmingham, Ala., and branches, 207 miles, of which
E lm ira & W illia m sp o rt.—Owns irom Williamsport, Pa., to
completed to Juno, 1887,112 miles; an exteasion of 93 miles is also con­ Elmira,
Y., 76 miles. This company was reorganized under the
templated. The above bonds were issued in 1887 to take up $800,000 present N.
name Feb. 29,1860, and leased to the Northern Central Rail­
of prior first mortgage bonds and $500,000 of debentures outstanding. way for 999
years from May 1,1863, at a rental of $151,500 per annum
Stock (authorized), $2,000.000. Net earnings for six months, Oct., 1836 alter Jan. 1,1880.
dividends on the common stock are 5 per cent
to April 1,1887, $40,740. E. F. Browning, Pres’t, 403 Broome Street, and on the preferredThe
7 per cent. Gross earnings in 1884-5, $744,685 ;
N. Y. (V. 44, p. 621.)
net, $273,730; surplus to lessee, $95,372. Gross earnings in 1385-6,
E a s te r n (M a s s .)—Owns from Boston, Mass., to New Hampshire $765,559; net $226,008; surplus to lessee, $17,848.
State Line, 41 miles; branches—Salem to Marblehead, 4miles; Bever
& P ittsb u rg.—owns from New Castle, Pa., to Girard, Pa.,
ley to Gloucester, 17 miles ; Salisbury to Amesbury, 4 miles ; Revere 82Brie
miles; branch, Dook Junction to Erie Docks, 3 miles; leased—
to East Boston, 3*2 miles; Peabody to Wakefield, 8 miles; Sa.lem Girard
to
Erie, 15 miles; total operated, 100 miles. Road opened in 1865to Lawrence, 20 miles; others, 22 miles; leased—Eastern RR. of N. H , 16 It was leased
to the Pennsylvania RR. for 999 years from March 1,
miles; Newburyport City RR., 3 miles; Portland Saco & Portsmouth, 51 1870, at a rental
7 per cent on stook and interest on the bonds,
miles; Portsmouth & Dover, 11 miles; Portsm. Gt. Falls A Conway, 73 and the lease wasoftransferred
to the Pennsylvania Co. The lease has
miles; Wolfeboro Railroad, 12 miles; total operated, 285 miles. been quite unprofitable to the lessees;
deficiency paid by them in
In Ma roh, 1883, a lease of this road to the Boston & Maine was voted 1881 was $233,522; in 1882, $207.651: the
in 1883, $260,071; in 1884,
for fifty-five years, butin November, 1884, this lease was decided to be $307,841; in 1885, $354,633; and in 1886,
$225,794.
illegal in some respects, and a new one was negotiated for 54 years
European & Nortli A m erican . — Owns from Bangor, Me.,
from Oot. 1,1883, on the basis of combining the total earnings, paying
all charges, and dividing the surplus income as follows : 1. To B. & M., to Vanoeboro (State Line), Me., 114 miles. Road was worked in
$630,000 (9 per cent on its stook) ; to Eastern, $100,000 for sinking connection with the St. John & Maine, making an unbroken line from
fund; to B. & M., $70,000; to Eastern, $336,000; balanoe to be spent Bangor, Me., to St. John, N. B., 205 miles. On Aug. 31, 1882, a lease
by lessee on both properties pro-rata. Mortgage notes are $684,300, was made to the Maine Central for 99 years, for $125,000 per annunu
equal to 5 per oent per annum-on the stock, and assuming the bonded
secured by real estate.
In Nov., 1886, the company offered to issue preferred 6 per cent stock debt of $1,000,000, which is given under Maine Central.




INVESTORS’
SUPPLEMENT,




INVESTORS’

4®

SUPPLEMENT.

[V ol. XLIV.

Subscriber* w ill confer a creai favor by giving Im m ediate notice o f any error discovered In tbese Tablea.
Bond i—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par
of
For explanation of column headings, Ac., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Erie A Pittsburg—(Continued) - Equipment bonds. 100
Consol. mort. free of State tax (for $4,500,000)... 100
114
European A No.A merican—Stock, guar. 5 per ct—
54
Evansville A Indianapolis —1st mort., E. & I. gold..
40
Terre Haute A Southeastern—1st mort.............. .
Ev. & Ind. Cons. mort. (for $2,500,000) gold, guar 135
Evansville A T. Haute—Stock...................................... 146
51
1st mortgage, Evansv. A 111., sink, fund...............
1st mort.Evans.A Cr.,sink.fund, (Evansv. to T.H.) 109
144
1st consol, mort., gold (for $3,500,000)................
25
1st mort., Mt Vernon Branch, gold (for $375,000)
55
Evansville Terre H. A Ohit.—1st M., gold, int. guar..
55
2d mortgage, gold.....................................................
Fitchburg—Common stock...........................................
Preferred 4 per cent stock....................................... 100
Bonds to State of Massachusetts.............................
Bonds, coupons........................................................
Boston Barre & Gardner, 1st mortgage................ 38*4
do
2d mortgage...................................
do
3d mortg (convertible into stock)
Flint A Fere Marquette—Preferred stock.................. 361
Reorganization mortgage, gold ($5,000,000)........ 302
17
Flint & Holly R R ......................................................
Bay County, issued in aid, guar, by lessees.............
65
Holly Wayne A Mon., 1st mort., sink, fund, guar.
Florida Railway A Vac.—F. C. A W., 1st mort., gold 234
155
Florida Transit—1st mortgage...........................
50
Peninsular of Florida—1st mortgage................
530
Fla. Ry.A Nav., consol, mort. gold.................... .
24
Femaudina A Jacksonville........ . ....................
244
Florida Southern—1st mortgage...........................
10
Fonda Johnstown A Oloversville—1st mortgage ..
26
Consol, mortgage........................... .....................

1870
1868
1884
1879
1886
1852
1854
1881
1883
1870
1872

$ 1,000
1,000
100
1,000
1,000
50
1,000
1,000
1,000
1,000
1,000
1,000
100

’74-’85 1.000
1873 100 Ac.
1675
1875
1880
1868
1871
1882
1881
1876
1884
1883
1883
1870
1880

1,000
500 &c.
500
1,000
1,000
1,000
1,000
1,000
1.000
100 &c.
100 Ac.
100 Ac.

E van sville Sc In d ia n ap olis.—Owns from Evansville, Ind., to
Terre Haute, Ind. (via Worthington), 135 miles; branch to Lancaster, 3
miles; total, 138 miles. This company was a consolidation in Oct. ’85,
of three oorporat ions, viz.: the Evansville A Indianapolis, the Evansville
Wash. A Brazil and the Terre Haute <fc Southeastern railroads. Of the
consolidated mort. bonds, $1,260,000 are reserved to meet prior Hens.
The consolidated bonds are guaranteed by the Evansville & Terre
Haute Co. Capital stock, $2,000,000. Edwin Taylor, President.
E v an sv ille Sc Terre H a u t e .—Owns from Evansville, Ind., to
Terre Haute, Ind., 109 miles; Owensville branch and extension, 37
miles: total operated, 14« miles. The .Rockville Extension, 23 miles
additional, is leased to the Terre Haute A Logansport for 99 years from
Nov. 1,1879. Formerly the Evansville A Crawfordsville RR. Co. The
20 per oent stock dividend of 1 8 '4 was the distribution of $500,000
which had been held for sometime in the treasury. To meet the bonds
a ilin g due in 1887 the Co. has $852,000 of the consol, bonds. Annual
report for 1885-6 in V. 43. p.486. Gross earnings year ending Aug.
81. 1886. $761,981; net, $386,801; in 1884-85, gross, $718,823; net,
$357,600. (V. 42. p 463, 575; V. 43, p. 458, 486).
E v an sv ille Terre H au te Sc C hicago.—(See Map o f Chicago

leases the Indiana Block Coal road. 15 miles. On April, 30,1880, a
lease to the Chicago & Eastern Illinois was made for 999 years; terms,
$75,000 per annum and the assumption by the C. & E. I. of all rentals
mid taxes paid by E. T. H. & C. The bonded interest was reduced to 6
per oent and preferred stock for $100,000 issued for overdue coupons;
oornmon stock. $600,000. Josephus Collett, President, Terre Haute, Ind.
F itc h b u r g .—Owns from Boston, Mass., to Fitchburg, Mass, (double
traok), 50 miles, and B. Barre & Gard. RR., Worcester to Wiuchendon, 36 miles; branches—Charlestown, 1 mile; North Cambridge
to Waltham, 8 miles; South Acton to Marlborough, 12 miles;
Peterborough & Shirley, Ayer, Mass., to Greenville, 24 miles: Ashburn•hnm branch, 3 miles; leased and operated—Vermont & Mass. RR.,
Fitchburg to Greenfield, 56 miles; Turners Falls Branch, 3 miles; Troy
St Greenfield RR.. Greenfield to North Adams, 37 miles; total, 229 miles.
The pr<-seut company was formed by consolidation in ’87 of the Fitch­
burg and the Troy «&Greenfield RR.’s, and the Hoosac Tunnel, the latter
purchased from the State of Massachusetts (See V. 4 i, p. 59.1 A con­
tract for the pin chase of the Troy & Boston railroad was also made of
which the icrms w*-re mentioned in V. 44, p. 544. The Hoosao Tunnel
Dock A Elevaror Co. was taken in also for $1,512,600 of the Fitchburg
stock, and the Boston Hoosac Tunnel A Western road was purchased.
The whole status of the Fitohburg company will probably be revised
for the July S u p p l e m e n t . ____
, _
_
_
, , 0
The annual report for 1885-86 was in the C h r o n ic l e , V. 44, p. 148.
The income account for four years (ending Sept. 30) w as:
INCOME ACCOUNT.

Receipts—
Gross earnings........
Net earning#............
Premiums and rents
Total income .......
Disbursements—
Rentals p a id ...........
Interest on debt.......
Other interest..........
Dividends.................
Rate of dividend —
Total disbursem’ts

1882-83.
$
2,858,678
670,737
107,000
777,737

1883-84.
$
2,798,157
666,752
58,500
725,252

1881-85.
$
2,820,119
673,159
71,130
741,289

1885-86
$
3,295,289
735,624
101,253
839,8/7

$885,000
7
2,485,000
7
21«
2,500,000
699,090
6 g.
260,000
7
1,001,000
6 g.
3,000,090
246,000
7
606.000
7
2,148,000
6 g.
200,000
6 g.
775,000
6 g.
325.000
6 g.
5.1 00,000
2
7, >48.800
5,000.000 3 to 4*a
4,500,000 4, 5. 6 7
391,000
5 St 7
3
186,300
6
57,300
6,500,000
2ia
3,924,000
6 g10
300,000
10
75,000
8
1,000,000
2,808,000
5 g.
6
1,000,0 0 )
7
250,000
4,042,000
6 g6
380,000
6
2,014,200
7
300,000
6
200,000

A. & O.
J. & J.
A. <fe O.
J. & J.
M. <fe s.
J. & J.
Q -J .
J. & J.
M. & N.
J. & J.
A. & O.
M. & N.
J. & J.

N. Y., Union Trust Co.
do
do
Bangor.
N.Y. Farm. L. & Tr. Co.
do
do
New York.
Company’s Office.
N.Y.,Farm. L’anA T.Co.
do
do
do
do
do
do
N.Y.,Farm.L’an & T.Co.
do
do

Oct. 1, 1900
July 1, 1898
O ct 15, 1886
July 1, 1924
Sept. 1, 1909
Jan. 1, 1926
Apr. 15, 1887
July 1, 1887
Nov. 1, 1887
July 1, 1921
April 1, 1923
May 1, 1900
Jan. 1, 1902

M. & N

Boston, Office

May 2, 1887
1937
1894 to 1905
April 1, 1893
July 1, 1895
July 1, 1895
Jan. 15,1887
O ct 1, 1920
May 1, 1838
Sept. 1, 1887
Jan. 1, 1901
A p r ili, 1922
Mar. 1, 1911
May 24, 1906
July 1, 1924
July 1, 1923
Juty 1, 1923
July 1, 1900
May 1, 1920

...
...

Boston, Office.
A. A O.
A. A O. Worcester, City Nat. Bk
....
do
do
do
do
J. A J.
J. & J. N. Y., Mer. Ex. Nat. Bk
do
do
A. A o.
M. & N. N. Y.. Meehan. Nat. B’k
M. A S. N.Y., Meroh.Exoh. N.Bk
J. A J. N.Y.. Merch. Nat. Bank.
J. A J. Last paid, Jan., 18*15.
M & S Last paid. March, 1885.
J. & J. Last paid. Jan., 18 s5.
Ç • J, Last paid, July, 1385.
J. <fc J. Last paid, Jan., 1835.
New York.
J. A J.
J. & J. N. Y., St. Nioh. Nat. B’k
do
do
1A. & o.
FISCAL RESULTS.

1884.
Earnings—
1883.
$735,067
$974,641
Passenger................
Freight........................
1,610,510 1,457,169
60.752
57,792
Mail, express, A c...
2,254,983
Total gross eam’s. 2,542,943
1,735.517 1,515.461
Oper, exp’s A taxes.
807.426
737,52 7
Net earnings ...........
68-25
67*26
P.c. of op. ex. to earn.

1885.
$636,750
1,247.3 33
62,657
1,946,790
1.3i7.*MQ
593,95 )
69*23

1886.
$695,934
1,403,720
__ 61,117
2,1 «0,771
1 511,102
649.669
69-93

INCOME ACCOUNT.

1886.
1885.
1384.
1883.
$
9
$
$
649.669
598,950
737,527
807,426
Net earnings............
Disbursements—
*322,910
329,499
337,223
318,623
Interest on debt____
32 >,000
260,000
455,000
455,000
Dividends...............
4.226
Miscellaneous..........
593.725
773,62
i
792.223
593.735
6
4 /,on)
Total disbursem'ts.
Balance for the year. sur. 33.803 def. 5i,69 i sur. 5,225 sur. 1,759
Less interest, Ac., received.
___ •_ _ _
__ ( Y . 4-2, p. 4 8 6 ; V. 43, p. 49; V. 44, p. 117, 434, 526, 6 5 0 )
F lo rid a H a llw a y Sc N avigation .—Miles owned as follow s:
Jacksonville to Chattahoochee, 209 miles, and branches from Talla­
hassee to St. Marks, 21 miles; and from Drifton to Montioello, 4 m.;
Femaudina south, 179 miles; Waldo to Cedar Keys, 72 miles; Wild­
wood to Leesburg, 23 miles: Hart’s road to Jacksonville, 25 m.;
total, 532 miles. In March. 1884, the Florida Central A Western, Florida
Transit & Peninsular, Fernandina & Jacksonville and the Leesburg A
Indian River railroads were consolidated under this name. There have
been issued $16,900 6 per cent consolidated bonds, with $13,000
of preferred and $13,000 of common stook on each mile constructed
and equipped. Of the above F. C. & W. bonds $1.000,000 are a
preferred lien “ series A,” the balance of the issue being known as
“ series B.” In Oct.,1886, areeeiver (Mr. H. R. Duval) was appointed for
the whole property, a >d in February, 18-46, was authorized to spend
$800,0 0. It is stated that this step is taken in order to raise funds to
put the road and equipment in condition and to narrow the gauge in
coni unction with other Southern roads, B. S. Henning President, N. Y.
City. Gross earnings for 1864, $L,<>01,590; not, $385,198; interest,
$343,900. (V. 42. p . 215; V. 44, p. 494.)
F lo rid a Southern (Narrow-gauge) .—Owns from Pa a ka, Fla., to
Gainesville, 50 m.; R icheile to Lee.-burg to Brookville, 106 in.; Bartow
to Charlotte Harbor, 75 m.; Leesburg to Astor, 50 m.; other B -anones,
13 m ; total owned, 2 9 1 miles. C 'p t tl stook, $10.030 per mile; 1st
inong. bonds, $12,000 per mile. Taere are also $285.000 nonds of the
Sr. John & Lake Eustis KR., 50 m., guaranteed by this Co. Comp my has
a State land grant of 13,840 acres per mile. J. W. Candler, Pres., Boston.
F on da J o h n sto w n Sc O loversville.—Owns from Fonda to
Northviile, 26 miles. The stock is $300,000. Gross earnings in
1885-86, $163,664; net, $76,325; surplus over all charges and 10 per
cent dividend, $i3 .3 l6 . Gross earnings in 1«84-S5, $160.324; net,
$68,566; surplus over charges and 9 Ha per cent divide ad, $3,334. w.
J. Heacock, President, Gloversville, N.Y.
F o rt M adison Sc N orthw estern.—Narrow gauge road from Fort
Madison, la., to McKee, la., about 45 miles. Stock, $425,600. De­
fault on bonds was made October, 1884, and in July, 1883, a receiver
took possess.on, and it was proposed to issue new bonds at $14,000 per
mile, change the gauge and complete the full line of 100 miles and
retire old bonds by some settlement with the holders, either giving them
the new bonds or otherwise. C. A. Gilchrist, Receiver.
F o rt W a yn e Sc J a c k so n .—Owns from Jaokson, Mich., to Fort
Wayne, Ind, 97 miles. The former Fort Wayne Jackson & Saginaw made
default on its bonds and was sold in foreclosure Dec. 3.1879. On Sept.
1,1882, leased perpetually to Lake Shore A Mich. Southern at a rental of
$126,027, equal to
per oent on the pref. stock, and after 1887 any
net earnings over 8 per cent on pref. stock to be paid as dividend on
common stook, bat not exceeding 2 per oent a year.
, _
F o rt W a y n e C incinnati Sc L o u isv ille .—From Fort Wayne.
Ind to Conuorsville, Ind., 104 miles; branch to Rushville, Ind., 24
miles; total operated, 128 miles. The Fort Wayne M uncie* Cincin­
nati Co. defaulted and a receiver was appointed Nov., 1874. The roaa
was sold in foreclosure. July 27, 1881, to Elijah Snath, for the bond
holders, for $1,000.000. The bondholders reorganized under this name.
There are $109,000 notes, due 1893. Gross earnings in 1886, $271,561;
net. $58,241. Gross in 1885, $227,841; net, $22,509; interest paid,
$7.000, Elijah 8raith, Pres’t. N .Y .
_
,„
_ _
F ort W o r th Ac Denver C ity .—(See Map)—From Fort Worth, Ter.,
northwest, to Quauah, Tex., 194 miles. Stock, $20,000 perinile,
$3 880,000; par value of shares, $100. Bonds are Issued at $25,000 per
in.'for the 200 miles to near Quanab, but beyond that point to be issued at
$16,000 p. m., making the whole road average $18,u00 per mile, lne
road is under construction to the State line to fo ru a junction with the
Denver Texas & Fort Wortu, and thereby constitute a through line from
Denver via Foit Worth to Galveston and New Or.eans. Gross earnings

256,480
252,581
246,809
230,164
260,763
2*0,688
200,000
177,500
12,332
51,225
264,331
247,500
272,250
297,000
(51
(5)
(5*2)
(«)
781,574
720,769
731,391
755,889
def.6,189 sur.23,520 sur.58,303
surp.21,848
—(V. 42, p. 9 2 ; V. 43, p. 607, 746; V. 44, p. 59, 119, 1 4 8 , 421, 434
4 9 4 ,5 4 4 )
F lin t Sc Fere DForquette,—Owns from Monroe, Mich., to Luding
ton, Mich., 253 ur les; branches—Bay City to East Saginaw, 12
miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch,
5 miles; Harrison branch, 30 miles; Manistee branch, 26 miles;
Saginaw & Mount Pleasant Railroad, 15 miles; total operated,
362 miles. A Receiver took the old oompany in June, 1879; the
road was sold August 18, 1880, under the consolidated mortgage, and
reorganization was made and preferred stock ($6,500,000) issued for the
consolidated mortgage bonds, and common stock ($3,500,000) is to be
issued for the old stock. The common stock has no present right to vote
or to receive dividends, and will be issued only after the preferred
stockholders have reoeived 7 per cent yearly dividends for five con­
secutive years. The preferred stock is not cumulative, and after 7 per
oent per annum is paid on both classes of stook, the balance of income,
if any, is to be divided ratably. In 1886 the common stockholders
took steps looking to the relief of their stook from its onerous limita­
tions, owing to the payment of dividends on the preferred stook at 7
per cent for a few years and then at a reduced rate.
On Jan. 1, 1887, the land notes (principal and interest) on hand for
lands sold were $285,582, and lands yet uusoid 89,044 acres. The net, $109,78 2, ag *inst $48,687. Morgan Jones. Pres., F o rt W ort f i — (V .
total amount of cash collected in 1886 was $173,818. Annual report for 42, p! 22, 215, 2 ) 1.463, 479, 549, 782; V. 43, p. 49, 547, 579, 774, V
1886. in V. 44. p. 550. Earnings and operations forfouryearspast were 44, p. 60, 90,184, 211, 308. 392, 400, 431, 499, 526, 551,)1




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Ma t , 1887.J

R A 1 L K 0 A D STOCKS A N D

BONDS.

Ä1

S u b s c r i b e r « w ill confer a great flavor by giving Im m ediate notice o f any error discovered In tliese Tables.

-Bonds--Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by pal,Whon
Par Outstanding
Stocks—Last
of
For explanation of column headings, &o., see note8 of
Cent, Payable
Road. Bornia Value.
whom.
Dividend.
on first page of tables.
$320,000
7 g. A. & 0. Last paid April, 1893. April 1, 1905
45 1880 $500&o.
Fort Madison <t Northwestern—1st mort., g o ld ......
2% M. & S. N Y. »Farmers’ L.&Tr.Co Sept. 1, 1886
2,287,832
97
Fort Wayne <£Jackson—Fret, stock, (8 per cen t)....
431,747
97
....
Common stock......................••••••
- -- .............
4,000,000
128
Fort Wayne Cincinnati <£ Louisville—Stock.............
4,400,000
1,000
6 g. J. & D. N. Y., Mercantile Tr. Co. Deo. 1, 1921
194 1881
Fort Worth <t Dent. City—1st M., gold.....................
250,000
6
A. & O. Pennsylvania RR. Co.
28 1870 500 &o.
Oot. 1, 1900
Frederick <£ Pennsylvania Line—1st mortgage. . . . .
4,756,000
6 g. F. & A. N.Y., South. Paoiflc Co. Feb. 1, 1910
Galveston Harrisb.d S.Antonio—1st mort, gold, 1. gr. 256 *71-’80 1,000
1.000,000
J.
&
D.
do
do
7
1,000
226
1880
June
1, 1905
2d m ortgage............. ........................ - ..................
1,000 13,418,000
New York.
5 g. M. & N.
May 1, 1931
Western Division, 1st mortgage, gold.................. 671 1881
6,354.000
do
1,000
6
J. & J.
July 1, 1931
do
do
2d mortgage.......... 671 1881
2,000,000
5
A. & O.
New York.
1,000
50 1833
April 1, 1913
Galveston Houston £ Head, o f 1882—1st mort.,guar
600,000
35 1870 100 &o.
7 g. J. & J. Fklla., Company’s office. Julv 1, 1890
Geneva Ithaca rf Sayre—1st mort., s. f., gold...........
600,000
1,000
6
J« (fe J. N. Y.» Central Trust Co. July 1, 1926
97 1886
Georgia Midland «£•Gulf—1st mort. ($15,000 p. m.).
3,173,000
6
1,000
J. & J. N. Y., Central Trust Co. Jan. 1, 1922
Georgia Pacific—1st mort.. $10,000 per mile.......... 313 1882
3,901,000
1,000
6
A. & O. N. Y ., Metropol’n Tr. Co. Oct. 1,1923
2d mort., income, cumulative ($15,000p. m .). ... 202 1883
100
4,200,000
2 kJ
Q .-J . Am.Ex.Bk., N.Y.,&Aug April 15, 1887
Georgia Railroad «£ Banking Co.—Stock.................. 307
1,000
100,000
I. & J.
7
do
do
1890
Bonds, not mortgage.......... .....................................
2.300,000
77&80 1.000
6
J. & J.
do
do
’97,1910,1922
Bonds, not mortgage ($300,000 mature in 1922)..
1,000
200,000
5
1887
J. & J.
do
do
Jan. 1, 1922
Bonds, not mortgage................................................
4,985,081
100
Grand Rapids <£ Indiana—Stock.....................-........ 367
3,934,000
1,000
7 g. J. & J. N. Y., Winslow, L. & Co. Oot. 1. 1899
1st mort., land grant, gold (guar, by Pa. RR)....... 367 1869
1,000
1,441,000
do
do
7 g. A. & O.
Oot. 1, 1899
1st mort., gold, ($675,000 are land grant)............. 367 1869
2,700,000
1,000
6
M. & N.
do
do
Nov. 1, 1899
Six per cent mortgage.............................................. 367 1884
1.000
3,217,000
5
M. & S.
do
do
Sept. 1, 1924
Consol, mortgage for $13,000,000, coup, and reg.| 367 1884
1,000
750,000
42 1886
do
do
5 g. J. & J.
July 1,1926
Mortgage (gold/ on Muskegon Division................
1,000
1,600,000
6
F. & A. N. Y.Farmers’ L.&Tr.Co Feb. 1, 1911
Green Bay Irtnona d St. Paul—1st mort. coup. . . . . 219 1881
280,830
6
F. & A.
1886
do
do
Aug. 1, 1906
Funded coupon bonds..............................................
1,000
3,781,000
8
M. & N.
Noue ever paid.
May 1, 1911
2d mort. income bonds, reg.. non-oumulative....... 219 1881
1,000 11,400,000
7 g. J. & J. N.Y.Nat.City Bk.&Galv. July 1, 1909
Gulf Colorado d Santa Fe—1st M., g. ($12,000 p.m.) 950 1879
1,000
5,000,000
2a mortgage ($8,000 per mile), gold...................... 625 1885
6 g. A. & O. New York, Nat. City Bk. Oot, 1, 1923
100
9,168.700
Hannibal d St. Joseph—Common stock .................... 292
292
5,083,024
100
3
F. & A. N. Y., Company’s Ottice Feb. 15,1883
Preferred stock (7 p. o. yearly, not cumulative).
1,000
6.643,000
292 1881
5 & 6 M. & 8. N.Y., Bk.of No. America. 1 Mar. 1,1911
Consolidated mort. (for $8,000,000)................ .
Frederick Sc P ennsylvania L in e.—Owns from Kingsdale to
Frederick City. Md.. 28 miles. It is leased to Pennsylvania RR., which
pays interest on first mortgage. Preferred stock held by Pennsylvania
RR., $161,000; common stock, $318,100; floating debt, (coupons, &o.),
$184,< -15. Gross earnings in 1886, $53,312; net, $1,975. Charles E.
Trail, President, Frederick City, Md.
Galveston H arrisburg SC San A n to n io .—(¿fee Map o f Southern
Pacific.)—Owns from Houston, Texas, to San Antonio, Texas, 217 miles
LaGrunge Extension, 28 miles; Harrisburg to Piorce Junction, 8 miles;
leased, Harwood to Gonzales, 12 miles; total, 266 miles. Western Ex­
tension, San Antonio to Rio Grande River, connecting with Southern
Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Exten
sion, 661 miles. Grand total, 936 miles. The extensions to the Rio
Grande at Eagle Pass and to El Paso were completed late in 1882.
This company was successor to the Buffalo Bayou Brazos & Col. Rail­
way in 1870. The capital stock outstanding on the whole road is
$27,061,544. The 1st mort covers 256 miles of old road and 1,500,000
acres of land. The proceeds of land sales are used to retire the bonds,
and also a sinking fund of 1 per cent, but it is optional with bond­
holders to surrender their bonds, if drawn. Of the second mortgage
bonds due 1931, the company holds $355,000. In June, 1881, a large
interest in the stock was bought by Southern Pacido parties. The
mortgages on the Mexican Pacific extension cover 636 miles of road,
from San Antonio to El Paso, and the Eagle Pass branch, 35 miles—
671 in all. The land grant is sixteen sections (10,240 acres) per mile.
On Feb. 10,1885, this property was leased for 99 years to the Southern
Pacific Company, the lessee agreeing to pay interest on the debt, and
»further sum equal to 161* per cent of the net profits on the whole
Southern Pacific system.
For three months from Jan. 1 to Mar. 31, gross earn’gs were $698,240 in
1887, against $578,750 in 1886; net, $7,998, against $81,597 in 1886
Earnings and expenses for three years were:
1884.
1885.
1886.
Miles operated..................
936 .
936
Gross earnings.................. $2,902,591
$3,253,977
$2,599,463
2,035,816
Operating expenses..........
1,766,525
2,322,423

associates, for the Central of Georgia and the Louisville & ^Nashville
railroads, at $600,000 per year, payable semi-annually, and dividends
are 2*3 percent quarterly; the deficit to these companies in 1884-85
on the lease was $98,599. In 1836-87 net income from all sources
including bank, was $670,802, leaving a surplus of $78,343 above all
charges, including 10 per cent dividends. Total surplus of RR. Oo. Mar.
31, 1887, $1,083,665; of Bank, $217,644.
G rand R a p id s Sc In d ia n a. - (See Map o f Pennsylvania RR.)—Owns
from Fort W‘ vne Ind.,to Mackinaw City, 367 miles; Manistee Branch,
22 miles: Missaukee Branch, 8 miles; Osceola Branoh, 7 miles; total
owned, 404 miles; leased and operated; Cm. Riohinond & Fort Wayne
RR., 86 miles; Traverse City Railroad, 26 miles; Bay View Little
Traverse & Mackinaw Railroad, 6 miles; Muskegon Grand Rapids &
Indiana RR., 77 miles—155 miles. Total, 599 miles.
The Grand Rapids & Indiana Railroad is operated in the interest
of the Pennsylvania Railroad Co., and $4,000,000 of the first mortgage
bonds were guaranteed by that company, which buys the coupons each
year if any remain unpaid by the earnings. First mortgage bonds re­
deemed by the sinking fund are replaced by 5 per cent bonds issued.
Tbe bonds on the Muskegon Division have a traffic guarantee applicable
to their interest payment.
The Co. has a land grant, and sold in 1886 29,169 acres, for $268,200.
The lands unsold on Jan. 1, 1887, were 410,356 acres. The assets were
$326,412 bills receivable, and cash with cashier, $33,085.
The annual report for 1885 was in Ch r o n ic l e of May 28,1887:
INCOME ACCOUNT.

1883.
$
2,361,605
640,098

1884.

$

1885.

$

1886.

Gross earnings........
2,116,299
1,946,143
2,098,127
Net ea rn in g s........
613,720
603,715
760,593
Disbursements—
Interest on debt.......
449,995
387,068
714,100
0
Int. on Penn.Co.note
25,902
21,586
Loss on leased roads
20,920
9,027
'*3,050
Adv.&int—C.R F.W.
17,003
37,255
27,263
5,019
Int.on G.R.I.& M. l’n
19,250
19,250
............
*93,416
Net earnings..............
$866,775
$1,487,452
$277,040 Int. on cps. prior yrs.
Interest paid....................
1,276,861
1,418,811
Total disbursemts.
533,070
567.602
744,413
746,406
Balance.....................Def. $410,086
Bur. 68.641
.......... Balance.....................sur. 107,028 sur. 46,118 def. 140,698 sur. 14,187
—(V. 42, p. 243, 6 93 ; V.43, p. 133,163; V. 44, p. 344.)
* Includes $89,075 for interest upon the debt to the guarantor for cou­
Galveston H ou ston A H enderson o f 1 8 8 2 .—Owns from Gal- pons of years previous to 1884; both ooupons and interest were included
Texas, to Houston, Texas, 50 miles. The road was opened in in the general settlement. (V. 42, p. 365, 537, 5 47. 604.782: V. 43 n
1853-4 and sold in foreclosure Deo. 1,1871, and reorganized as the G. 245, 398, 515, 634 ; V. 44, p. 22, 184, 235, 300, 434).
H. A H . of 1871. In July, 1880, the company defaulted on its interest
Green R ay W in o n a Sc St. P a u l.—Owns from Green Bay, Wis.,
and the road was sold in foreclosure Aug. 1, 1882, for $460.000, and to Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
purchased in the interest of Jay Gould and Russell Sage. The bond­ to Steven’s Pt., 6 miles; total, 225 miles. This was a reorganization in
holders. by agreement with the purchasers, received new 5 per cent 1881 of the Green Bay & Minnesota, which company made default and
bonds for their old bonds, and the road is leased for 99 years, to the the road was sold March 12, 1881. Preferred stock is $2,000,000, and
i atSr? ati?nai * Great Northern Railroad Company and bonds guaran­ entitled to 7 per cent when earned, and common stock $8.000,000
teed by that company. Stock of the new company is $1,000,000. In both stocks $100 shares. On Feb. 1,1885, default was made on the first
1886 gross earnings were $401,031; expenses, $395,355; net, $5,676; mortgage interest, and the trustee of the mortgage took possession and
a u 1 8 >4;67. In 1885, gross, $322,242; net, $42,356. in 1886 bondholders consented to fund the three overdue ooupons and
—(V. 42, p. 6 6 2 ; V. 44, p. 400.)
the company resumed payment of interest on August 1. For
T>iJe£ f v a -,Itlia,ca
Sayre.—Owns from Geneva, N. Y., to Sayre, 1384-85 gross earnings were $103,190; net, $33,043, ; taxes and inter­
Pa., 75 miles; branch, Ithaca, N. Y., to Cayuga, N. Y., 38 miles: est, $102,586. Samuel Sloan, President, New York. (V. 41. d . 189. 3 55 •
V. 42, p. 60; V, 43, p. 98, 368.)
*
O i^nizM iroctm^raT
« 7RSed)’
1111168: total
°Perated,
miles;
Organized
October 2,lli1876,
as 3successor
of the
Geneva 116
Ithaca
&
G u lf Colorado Sc Santa F e .—(See Map)—Mileage as follows: Gal­
veston to Gainesville, 420 miles; Alvin to Houston, 24; Somerville to
Conroos, 71; Temple to Coleman and Bollinger, 196; Cleburne to Honey
Grove, 132; total, 833 miles. Road was sold and reorganized April 15.
RR., 37 miles. The common stock is $1,275,000; preferred” $400 000 1879. Stock, $4,560,000.
Gross earnings year ending aopt. 30, 1885, $35 1,881 ; deficit $33 In July, 1885, the old second mortgage at $13,000 per mile was retired
CT0ssta^ 1 2 \ 2 8 ^ enp f0'«ffi°i907: fot» 1deficit, $163,270. In 1885-86, and canceled and the new second morfg. at $8,000 per mile was Issued,
Ì35!lb7 12,128 ’
tf $46’ i2 2 ; interest payments, $81,630; deficit, in April, 1886, the stock of this company was exchanged for the stock
of the Atchison Topeka & Santa Fe RR. Co., and the two properties thus
G e o rg ia M id la n d Sc G u lf.-R o a d built from Columbus Ga to consolidated. See V. 42, p. 630.
For
the
year1 Q1885
the grossA..earnings
were $1,916,963;
net.7 $517.293
^ f f i g i a 9^ ^
Ga., 145 miles. « a t S
ntl
+n Q
VTAnn
O O 4k A
— J 7 _ —_____.,
fallows on
556,461;
interest,
Richmond Sr nan J u i o , T b e Georgia Pacific has been built by
svstem T h « E x t e n s i o n Company, and operated in the R. & D.

iu * « ■ p ^

r s .

The Western Railway A /
’ total owned and operated, 307 miles
RR8 of G eore^ ^ S s^ om ^ n v hold¡n ®ontrnUod Jointly with the Central
The Macon <1 A u gu staT r
one-half: the stock of $3.000,000.
Port Royal & Aulusfa rr V ! nnles, is owned by this company. The
the Atlanta & West Point
one-lifth part by this company;
In Apm,
pril,1
881a
w years
® OQewas
hundredths
company:
i-osi,
a lease
lease W
for S99
made toby
W.this
M. Wadley
and




& St. J osejp li.—Owns from Hannibal, Mo., to St. Joseph,
Mo., 206 miles; branches—Cameron to Kansas City 53 miles; St. Joseph
to Atchison, Kans.. 19 miles; Palmyra to Quincy III.. 13 miles; total,
operated, 292 miles.
’
’
’
The company was chartered Feb. 16,18 47, and road completed to St
Joseph in Feb., 1859. The branches were built under different organiza
tions. Toe Bridge across the Missouri River at Kansas City is owned
*h© company received $3,000,090 in bonds from the State of Missouri,
mu cTt
repaid in cash in June, 1881, bat litigation followed.
The
Circuit Court decided the further sum of $476,049 to be due
the State, and the case Is yet pending on appeal. The land grant has
been practically closed out.
®
In May, 1883, 90,0 >0 shares of oommon stock and a large amount
of preferred were sold to the C. B. & Q. RR, Co. at 45 for the oommon
and par for the preferred, payable in C. B & Q. 5 per cent bonds at par.

99

IN V E S T O R S ’

SUPPLEM EN T.

[V ol. XLIV ,

Subscribers w ill confer a. great favor by givin g Im m ediate notice o f any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &o., see notes of
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
on first page of tables.
Hannibal A St. Joseph—( Continued) —
15
.
Bonds Quincy A Palmyra RR ................. .
53
Bonds Kansas City & Cam. RR...............................
54
Harrisb. Portsm’th Ml. Joy A Lane.—Stock...............
54
1st mor., registered (extended 30 years in 1883).
38
Harrisburg A Potomac—1st mortgage, coupon........
Hartford A Connecticut Western—Stock.................... 108
104
1st mortgage..............................................................
Helena A Rea Mountain—1st M., g., guar, by N. P ..
17»v
jtLousatomc—Stock........................................................ 127
Preferred stock......................................................... 127
2d mort. bonds of 1869........ ..................................
Bonds.........................................................................
Consolidated mort.. reg............................................
Rolling stook certificates..........................................
Roust. Mast A West Texas.—1st M., gld ($7,000 p. m.) 192
2d mort., land grant ($5,000 per mile).................. 192
Houston A Texas Cent.—1st M., (main) gold, l.gr.,s.f. 345
1st mort., 1. gr., West div. (Hempstead to Austin) 119
1st M., gold,Waco & N’ west (Bremond to Ross) —
58
Consol, mort., land grant, Main and Western Div. 464
Consol, mort., land grant, Waco & Northwest......
58
Gen. mort., gold (for $18,500,000).......................... 522
64
Huntingdon A Broad Top—1st mort., gold...............
64
2d mortgage, gold.....................................................
64
3d mortgage consolidated.......................................
Scrip for interest 1st and 2d mortgages................
Illinois Central—Stock............................................. I 2,355
Leased line 4 per cent stock, guar.......................)
Mortgage bonds, sterling........................................ 706
Sterling bonds, (sinking fund £20,000 yearly)___ 706
Mortgage, sterling.................................................... 706
706
Mortgage bonds, gold, coup., may be reg..............

1867
1853
1874
1883
1887
1869
1880
1878
1883
1866
1870
1873
1872
1875
1881
1854
1857
1865
f ....
1 ....
1875
1874
1875
1886

$433,000
1,076,000
1,182,550
700,000
507,200
2,550,200
610,000
400.000
820.000
1,180,000
300,000
76.500
500 &c.
300,000
200,000
1,000
1,344,000
1,000
(?)
1,000
6,154,000
1,000
2,271,000
1,000
1,140,000
1,000
4,046,000
1,000
Nil.
1,000
4,326,000
500
416,000
500
367,500
1,000
1.497,000
121,181
ido 30,000,000
100 10,000,000
£200
2,500,000
£200
3,900,000
£200
1,000,000
1,000
1,500.000
$ ....

50
500 &c.
100 &c.
100
1,000
1,000
100
100
500 &c.

Preferred stock has prior right to a non-cumulative dividend of 7 per
oent; then common to 7 ; then both share. Fisoal year ends Dec. 31.
Annual election occurs in November.
The income accounts have
shown a surplus for 1886 over all charges of $68.210; a surplus of
$506,152 iu 1885; a surplus of $445,168 in 1884; a surplus of
$353,698 in 1883, and a surplus of $39,810 in 1882 after paying
$330,395 for a
per oent dividend on preferred stock. (V. 43, p.
308.)
H arrisb u rg P o rtsm ou th M ou n t J oy be Lancaster.—Owns
from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Mid­
dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles.
The property was leased to the Pennsylvania Railroad Co. for 999
rears from Jan. 1, 1861, the rental being 7 per cent on the stock and
nterest on the bonds. Operated as a part of main line of Pennsylva
nia Railroad.
H arrisb u rg be P o to m ac.—Owns from Bowmansdale to Shippens
burg, Pa., 32 miles; branch to mines, 5>s miles; total operated, 37*3
miles. Extensions projected from Bowmansdale to Harrisburg. Bonds
authorized, $1,800,000. Stock $379,165. Thomas W. Ahl, President,
Boiling Springs, Pa.
H artfo rd be Connecticut W e ste rn .—Hartford, Conn., to Rhlne•oliff, N. Y., 108. Foreclosure suit was begun in 1880 against the former
Conn. West., and the State Treasurer took possession. On May 25,1881,
bondholders reorganized, and stock in new company issued for bonds.
In March, 1882, the purchase of the Rhinebeck A Connecticut Railroad
was made for $800,000 in the stook of this company. Gross sarnings
1884-85, $307,924; deficit, $9,811. Gross in 1885-86, $348,964;
net, $93,975; surplus over interest, <fec., $55,027. (V. 44, p. 308.)
1 H elen a be R ed m o u n ta in .—Road from Helena, Montana, north­
west, 17*8 miles. The bonds are guaranteed by the Northern Pacitto;
they are redeemable after Maroh, 1897, at 105 by sinking fund provis­
ions. Bonds sold in N. Y., April, 1887, by Griswold & Gillette.
H o u sa to n lc .—From Bridgeport. Conn., to State Line, Mass., 74
miles; Brookfield Juno, to Danbury, 6 miles; leased—Berkshire Railroad,
22 miles; West Stockbridge Railroad, 3 miles; Stookbridge & Pitts­
field RR., 22 miles; total, 127 miles. The preferred 8 per oent stock was
issued in 1845 to pay for laying the road with heavy iron. There are
also $150,000 6 per cent equipment bonds due Feb. 1,1888, and $70,000
5 per cent Danbury branch bonds due October 1. 1912. In Sept., 1886,
the Housatonio leased the Danbury & Norwalk RR. for 99 years. Opera­
tions and earnings for three years past were as follows:
Passenger Freight (ton) Gross
Net
Div. %
Years.
Mileage.
Mileage. Earnings. Earnings. Rentals. Pref.
1882- 8 3 .... 8,794,731
15,795,565 $735,492$252,251$74.1078
1883- 8 4 .... 9,265,561
14,875,414 676,759229,12174,095 8
1884- 8 5 .... 8,835,567
14,890,424 645,859249,63274,102 5
—(V. 43, p. 334, 774.)
H o u s to n E ast be W e st T ex a s.—Owns from Houston, Tex.
to Sabine River at Logansport, 192 miles, and connects there with a line
to Shreveport, La. (Narrow guage, 3 feet.) The company had a Texas
land grant of 10,240 acres for eaoh mile constructed and equipped.
Bonds issued to the extent of $7,000 per mile first mortgage and $5,000
per mile second mort rage, but the 2d mortgage bonds were not sold
and are held as collateral for the debt due Mr. Bremond, $750,000.
Stock authorized, $10,000,000; issued, $1,920,000. In 1884 gross
earnings, $281,552; net, $172,861. In July, 1885, M. G. Howe, Assist­
ant Superintendent of the Houston & Texas Central, was appointed
reoeiver of this oompany. Interest is in default, and the proposition
made to bondhol 'ers was in V. 44, p. 244. (V. 42, p. 365, 387; V. 43,
p. 131, 547; V. 44, p. 244.)

Î

H o u sto n be T exas Central. (See map o f Southern Pacific.)—Owns
from Houston, Tex., to Red River City, Tex., 345 miles; branohes
—Hempstead, Tex., to Austin, Tex., 118 miles; Bremond, Tex., to
R obs, Tex., 57 miles; total operated, 520 miles. Texas Central RR.
completed from Ross to Albany, 177 miles. The company has a land
grant from the State of Texas of 10,240 acres per mile, amount­
ing to about 5,130,720 acres; but the lands are not on the line
of the road. Mr. Morgan, of the Louisiana Steamship Line, bought a
controlling interest in the stock, and in February, 1883, the Southern
Pacitto party purchased this interest (§3,985,500 of the stook) with
their purchase of the Morgan property. Total stook is $7,726,900. The
general mortgage of 1881 for $18,500,000 is made to the Farmers’ Loan
3s Trust Co. as trustee, whioh oompany holds $1,500,000 Income and
Indemnity bonds and $1,149,000 consol, mortgage bonds as security.
The coupons due January 1, 1885, on first mort. bonds were not paid
by the Co., but were partly purchased by the Southern Development Co.
The 1st mort. is a first lien on the main line at the rate of $20,000 a mile,
covering 345 miles of road; it is also a first Uen on ten sections of land
for each mile, or 2,208,000 acres. The second mortgage at 8 per oent,
is a second lien on 463 miles of road and also a first Sen on six sections
o f land for eaoh mile of road, being 1,777,920 acres in all.
In Nov., 1836, a formal sale of oertain lands was made as required by
the grant. (See Y. 43, p. 514, 579.)
In February, 1385, B.G. Clark and Chas. Dillingham were appointed
receivers in a suit of the Southern Development Co. against the railroad,
and receivers’ certificates were issued. In January, 1886, foreclosure




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1889
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proceedings were begun under the first mortgage, and the first mortgage
trustees were afterwards put in possession of the property as receivers
with Mr. Dillingham.
The latest proposal for reorganization, &c., was in V. 44, p. 653.
The gross earnings from Jan. 1 to Deo. 31 were $3,080,796 in 1886,
against $2,681,520 in 1885; net, $769.579, against $629.143.
The following statement of gross earnings, operating expenses, amounts
charged to renewals and betterments, ana gross interest charges, in each
of the past four years, shows that, excluding betterments, renewals and
interest on floating debt, the income was more than sufficient to meet
the first mortgage Interest.
EARNINGS, EXPENSES AND CHARGES FROM 1882 TO 1885 INCLUSIVE.

1882.
1883.
1884.
1885.
Gross earnings........... $3,156,517 $3,251,875 $2,547,847 $2,739,915
EjtCJ)ffibSOrS_
Operat’g.incl’gtaxes.$1,748,904 $1,743,771 $1,573,190 $2,052,377
Extraordiu’y rep’s, &0 459,500
637,391
549,699
77,192
89,737
95,393
92,221
82,989
Equipment..................
Total......................... $2,298,112
Int. on floating debt..
$53,858
Int. A prin. State debt.
41,524
Surplus income.......... $763,022
Int. on bonded debt p’d 1,193,200

$2,526,562 $2,220,110 $2,212,559
$62,394
$86,130
$22,418
45,698
39,888
40,697
$622,220
1,193,200

$201,718
1,193,200

$459,238

$570,979
Def.onint.forbond.d’t $430,178
$991,481
- (V. 42, p. 60,124, 4 6 1 , 487, 549, 575, 663; ; V. 43, p. 102, 131, 309,
515, 547, 579, 746; Y. 44, p. 22, 184, 526, 653.)
H u n tin g d o n be B road T o p .—Owns from Huntingdon, Pa., to
Mt. Dallas, Pa., 45 miles; branenes—Shoup’s Run, 9 miles; Six Mile
Run, 4 miles; and Sandy Run, 3 miles; Long’s Run Br., 3 miles ;
total operated, 64 miles. This road was opened in July, 1856. The capi­
tal stook is $1,369,050 common and $1,985,300 7 per oent pref. stock.
In February, 1884, a dividend of 75 cents per share was paid on pref.
stock, and in July, 1887, 2 per cent. Earnings in 1883, $424,494; net,
$196,651. In 1884, earnings, $333,560; net, $175,724. In 1835 gross
earnings $371,001; net, $191,709. In 1886, gross, $379,875; net,
$222,736. (V. 44, p. 184.)
Illinois! Central.—(See Map.)—L in e o f R o a d —On Deo. 31, 1886,
the mileage was: Main line—Chicago to Cairo, 365miles; East Dubuque
to Centralia, 341 miles. Branohes—Otto to Normal, 111., 79 miles;
Buckingham to Tracy, 111., 10 miles ; Kempton Junction to Kankakee
Juno., 111., 42 miles; Gilman to Springfield, 111 miles; Park Site to South
Chioago, 5 miles; total in Illinois, 953 miles. Southern Division—New
Orleans, La., to Cairo, 111., 548 miles; branenes: Durant. Miss., to Aber­
deen, Miss., 108 miles; Jackson to Parsons, Miss., 115 miles; Sehula to
Durant, Miss., 24 miles. Total owned, 1,747 miles. Leased—Dubuque
to Iowa Falls, 143 miles; Iowa Falls to Sioux City, 183 miles; Waterloo
to Minnesota State Line, 76 miles. Total leased, 402 miles. Total
operated Deo. 31,1886, 2,089 miles. In Jan., 1887, took possession of the
road Champaign to Havana, with branch from Monticello to Deoatur,
130 miles, and ihe narrow-guage road West Lebanon. Ind., to Leroy,
111., 76 miles, making total operated after January, 1887, 2,355 miles.
U ider construction: Chicago Madison & Northero, Freeport, 111., to
Madison, Wis., and Chicago to Freeport, about 170 miles.
O r g a n iz a t io n , L e a se s , & c .—This company was chartered in Decem­
ber, 1850, and organized in March, 1851, and the whole road, 707
miles, opened September, 1856. The Illinois Central was one of the
first, and has been one of the most successful, of the land grant roads.
The lands granted were upon the condition that the company
should pay to the State 7 per cent of gross earnings yearly in lieu of
taxes. The Springfield 1h vision was acquired by a lease of theChicago
A Springfield (Gilman Clinton & Springfield foreclosed for 50 years,
but road is practically owned. The leased lines in Iowa were acquired
in 1837 by purchase of a controlling interest in their stock. The
company acquired a controlling interest in the Chicago St. Louis &
New Orleans Railroad, to whioh it made large advances. From July
1, 1882, leased the Chicago St. Louis & New Orleans for 400 years,
at 4 per cent per annum on stock and issued the above 4 per cent leased
line stook, in exchange for the Chic. St. L. A N. O. stock. Fiscal year
ends Deo. 3 1. Annual election held in March.
St o c k s an d B o n d s —The 4 and 3 h per oent bonds due in 1951 are under
the old main line mortgage of 1874, and this oompany was the first to
negotiate at par a 3!« per oent bond. On the Chic. St. L. <&N. O. the lessee
guarantees the principal and interest of all the outstanding bonds prior
to the 5 per cent bonds, and by an endorsement on the latter bonds
guarantees the payment of the interest on the same until the principal
is paid. Of the first mortgage bonds, $541,000 are a prior lien on
that portion of the road in Tennessee. The trust bonds of 1886 are
secured eaoh on» by a deposit of a $1,000 bond of the Chic. St. L. &N.
O consol. 5 per cent mort. and they also have the agreement that they
shall be secured by any future mort. that may be issued on the 111. Cent,
lines.
The oompany issued $10,000,000 new stock at par to stockholders
of June 1,1887, the proceeds to be used for acquisition of the leased
lines in Iowa for construction, &c.
sfoset

R A IL R O A D
4

AY, 1867.]




STO C K S A N D BONDS.

as

IN YE -TORS’

.1 4

SUPPLEME X T.

[V o l . X L IV .

Subscribers w ill confer a great favor by givin g Im m ediate notice ot any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,^When Due.
Miles Date Size or
Amount Rate per When Where Payable, and by Stocks—Last
par
of
For explanation of column headings, &e., see notes of
Whom.
Dividend.
Road. Bonds Value. Outstanding Cent. Pay’ble
on first page of tables.
Illinois Central—( Continued) —
Mortgage bonds, gold, coup., may be reg...............
Trust ponds sterl’g, (secured by Ch.8. L. & N.O. cons.)
Bonds, cou p., mortgage on Oh. & Sp. RR ............
Bonds, reg., mortgage on Middle Div......................
Ohio.St Louis & N.O., 2d M. (N. O.J.& G. N .)....
do
do
1st mort...............................
do
do
2d mort...............................
do
do oons.M., gld. (for $18,000,000)
Illinois dkSt. Louis—1st mortgage.............................
Venice & Oarondelet mort., guar............................
Indiana Bloomington <&West.—Stock........................
1st mort., preferred, coup, or reg..........................
1st mortgage, coup., may be reg............................
Inoome bonds, reg., convertible............................
Consol. Income bonds for $6,000,000...................
2d mortgage, coupon or reg.....................................
1st mortgage, gola, Eastern Division.....................
Sinking fund debentures.........................................
Indianapolis Decatur <t Springfield—1st mort., gold
2d mortgage, gold.....................................................
Indiana Illinois <6Iowa—Bonds........................... .
2d mortgage...............................................................
Indianapolis <e SI Louis—1st mort., in 3 series.......
Mort for $2,000,000, gold, (end. by 0. C. C. & I.).
Indianapolis <6 Vincennes—1st mortgage, guar.......
2d mortgage, guaranteed........................................
Iowa Falls <6 Sioux City—Stock..................................
1st mortgage. April 1, ’69........................................
Ithaca Auburn <£- West.—1st mort.(for $600.000)___
2d mortgage, (inoome for 3 years)..........................

1886 $1,000 $2,496,000
1886
5,000,000
£200
1,600,000
111 1877 $ 1,000
131 1881
968.000
1,000
1,483,000
224 1860
1,000
1,398,000
567 1877
1,000
1,000
80,000
567 1877
567 1881
1,000 15,030,000
19 1875
500
200,oro
300,000
6 1880-2 1,000
696
100 10,000,800
1,000,000
202 1879 100 &c.
3,500,000
202 1879 500 &c.
72,300
202 1879 100 &c.
1,000
4,688,000
342 1881
1.500,000
202 1879 500 &c.
3,000,000
140 1881
1,000
500,000
1,000
1883
1,800,000
153 1876
1,000
2,703,000
1,000
153 1876
1,000
600,000
120 1882
500
140,000
120 1883
2,000,000
1,000
72 1869
500,000
1,000
72 1882
1,700.000
117 1867 50Ó &C.
1,000'
1,450,000
117 1870
4,600,000
184
100
2,800,000
184 1869 500 &C.
100
&o.
400,000
38*2 1876
498,090
38*2 1877 100 &c.
706

Dividends paid since 1870 (prior to current year) have been: in 1871,
10 per cent; In 1872, 10; in 1873, 10; in 1874, 8 ; in 1875, 8 ; in 1876,
8 ; in 1877, 4; in 1878, 6 ; in 1879. 6 ; in 1880, 6 : in 1881, 7 : in 1882,
7 ; in 1883, 8 and 17. per cent in Chic. St. L. <fc N. O. stock, exchangeable
for leased line certificates: in 1884,10; in 1885, 8; in 1886. 7*2. Prices
of the stook yearly since 1870 have been: in 1871, 132® 139*2; in
1872,119® 140; in 1873. 90 ® 126*2; in 1874, 90 ® 108*2; in 1875, 88*2
® 106*«; in 1876, 607s *103%; in 1877, 40*2®79; in 1878, 7230®87; in
1879, 79*4® 100%; in 1880, 99*2® 127%; in 1881, 124® 146*2; in 1882,
127%®150*2; in 1883,124 ® 148: in 1884, 11 0 »1 4 0 : in 1885, 119**
®140; in 1886.130® 143*2; in 1887 to May 2 0 ,12S78®137<58.
O p e r a t io n s a n d F in a n c e s .—The Illinois Central for many years paid
10 per cent dividends, as the road drained a rioh territory, of which it
was the only outlet to Chicago. But the building of numerous east and
west lines crossing its road cut into its business severely, The company,
to extend its business, acquired the line from Cairo to New Orleans,
and invested largely in improving the property.
For 1888 the annual report in V. 44, p. 307, 310, showed that the
surplus 0 ver all charges (including construction and equipm’t accounts)
and 8 per cent dividends was $8,593. The profits or the whole Hue
are shown in the figures below :
INCOME ACCOUNT.

1883.
R’d o p ’rat’dDec. 31.
1,928
Receipts—
$
Gross earnings........ 13,064,743
Net earnings............
6,629.472
293,009
Interest, &o.............
Miscellaneous..........
202,226
Total......................
Disbursements—
Rentals, inch int. on
bds. of leased lines.
Int. on 111. C. debt...
Div’ds on 111. C.stk. &
leased line certs...
Taxes.......... .............
Construction aco’ ts.
Add’t’l equip, aco't..
Miscellaneous..........

1884.
1885.
1886.
2,066
2,066
2,149
$
$
$
12,190,833 12,621,264 12,529,494
6,062,32 1 5,994,635 5,988 790
188,967
270,627
313,343
121,206
65,966
102,121

7,129,707

6,372,494

6,331,228

6,404,251

1,891,538
538,750

1,787,316
546,900

1,901,038
544,400

1,875,073
776,760

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

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

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

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

Total......................
6,972,797 6,234,566
6,331,178 6,395,661
Balance, surplus....
156,910
137,928
50
8,593
—(V. 42, p. 3 0 3 , 3 0 6 , 338, 339, 783; V. 43. p. 190, 245, 607, 671 ; V.
44, p. 118,149, 275, 291, 3 0 7 , 3 1 0 , 343, 494, 526. 539, 653.)
Illin o is Sc St. L ou is.—Belleville to East St. Louis. 111., 15 miles;
brauohes to coal mines, 4 miles; total, 19 miles. Leases Veuice & Caron.
RR., 6 miles, and guarantees the bonds. Capital stook of 111. & St. Louis
is $900,000 preferred and $617,000 common. Gross earnings in 188485, $197,871; net, $32,264. Jos. W. Branoh, President, St. Louis.
In d ia n a B lo o m in g to n Sc W e ste rn .—Owns from Indianapolis,
Ind., to Pekin, 111., 202 miles, and Indianapolis to Springfield,
Ohio, 142 miles. Leased, Pekin to Peoria, 9 miles; Springfield to San­
dusky, O., 130 miles; Cary, O., to Findlay, O., 16 miles; Springfield to
Columbus, 45 miles. Total operated, 543 miles. This was a consolida­
tion in March, 1881, of the Ind. B. & W. and the Ohio Ind. & Pacific.
The Cincinnati Sandusky & Cleveland and branoh was leased in April,
1881; but of this, 24 miles (Springfield, O., to Dayton) is leased to Cin­
cinnati & Springfield. In April, 1885, the lease of the Indianapolis
Decatur & Springfield road was given up. The former Indianapolis
Bloomington & Western Company defaulted Oct. 1.1874, and a Receiver
was appointed Dec. 1,1874. The road was sold in foreclosure Oct. 30,
1878, and the company reorganized.
In July, 1886, a reoeiver was appointed for the I. B. & W.. as the
company was held liable for a larger rental of the Cin. Sandusky & Cleve1and road than had been expected; but the U. S. Circuit Court sustained
the decision and ordered the rental to be paid, and in Nov., 1886, a oirculiar was issued proposing a plan of foreclosure and reorganization.
(See V. 43, p. 579.) On March 28,1887, the road was sold at Indianap­
olis and will be reorga' ized pursuant to the plan.
For the year endng June 3o, 1886, see tepori in V. 43, p. 546, gross
earnings $2,493,536; net, $839,783; disbursements, $919,497; deficit,
$79,714.
For the year ended Dec. 31, 1885, the report in C h r o n ic l e V. 43,
p. 216, gave gross earnings, $2,335,539; net, $717,107; add rental, earn­
ings of C. 8. & C. Railway, Springfield to Dayton. $80,642. Total avail­
able revenue, $797,748. Payments: Rentals, $332,HO; interest on
bonds, $530,000; other interest, $23,3-7; taxes. $83,000; New York
office expenses and services, $15,593—total, $985,391; deficit under all
charges, $187,642. (V. 42, p. 463, 479, 601, 783; V. 43. p. 23, 49.
102, 132, 2 1 6 , 309, 398, 458, 515, 5 46, 579, 634; V. 44, p. 90, 184,
211, 434.)
In d ia n ap olis Decatur Sc Springfield.—Owns from Decatur,
HI., to Indianapolis, Ind., 153 miles. This company is successor to the
Indiana & 111. Cent. RR, sold in foreclosure April 26,1875. In Dec.,
1881, was leased to Ind. Bloom. & W. for 50 years, at 30 per cent of gross
earnings, but with a guarantee of $200,000 per year. In March, 1885,




3*2 g. J. & J. N. Y., 214 Broadway
3*2 g. J. & D. Lon don,Morton R.& Co.
J. & J. N. Y., 214 Broadway.
6
F. & A.
* do
do
5
do
do
A. & O.
8
M. & N.
do
do
7
do
do
J. & D.
6
do
do
5 g. J. & D.
J. & D.
St. Louis.
8
do
Various
6

Jan. 1. 1951
July 1,1950
Jan. 1. 1898
Aug. 1, 1921
Oct. 1, 1890
Nov. 1, 1897
Dec. 1, 1907
June 15, 1951
June 1, 1895
1900-’ 02

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

Jan. 1, 1900
April 1, 1909
April 1, 1919
July 1, 1921
April 1, 1909
June 1, 1921
1903
July 1, 1906
July 1, 1906
1887
1903
July 1, 1919
Nov. 1, 1912
Feb. 1, 1908
May 1, 1900
Men. 1, 1887
Oct. 1. 1917
Deo., 1906
Jan. 1, 1907

7
4 to 6
6
'6
4 to 6
6 g.
6
7 g7 g.
6
6
7
6 g.
7
6
1*2
7
7
7

this lease was relinquished and Mr. Hammond, the President, was
appointed receiver. The first-mortgage bondholders funded one-half of
the coupons due April l and Oct. 1, 1885, in five years’ scrip, the other
half being paid in cash. Foreclosure is made under the 2d mort.
and stook assessed $2 50 per share. On May 25, 1887, sale will be
made in New York. Common stook is $500,000. (V. 43, p. 718; V. 44,
p. 184, 211, 362.)
In d ia n a Illin o is Sc I o w a .—Completed and in operation from
Streator, III., to Knox, Ind., 120 miles. Stook, $3,598,000. Gross
inoome in 1884-5. $113,315; net, $8,095; deficit under charges, $20,850.
Gross in 1885 6, $123,089; net, $22,568. F. M. Drake, President, CentreviUe, Iowa.
In d ia n ap olis Sc St. L o u is.—Owns from Indianapolis to Terre
Haute, Ind., 72 miles; leased line, St. L. Al. & T. H. and branches,
193 miles; total operated, 265 miles. The old lease of the St. Louis
A. & T. H. was guaranteed by three other companies, and suit has been
pending as to the rental. The company was formerly controlled by
the Pennsylvania and Cleveland Columbus Cin. & Ind. companies,
who jointly owned the stock of $600,000. Interest had not been
paid on the second mortgage and equipment bonds since July, 1878,
and on July 28,1882, the road was sold in foreclosure for $1,396,000
(subject to 1st mort.) and bought for Clev. Col. Cin. & Ind. Co. and a
new company organized September, 1882, with J. H. Devereux as
President. A new lease was made of the St. Louis Alton & Terre Haute
by which this company and the Cleveland Columbus Cincinnati & In­
dianapolis are jointly liable for the rent of $450,000 per year as a mini­
mum. Of the first mortgage bonds series “ A” are J. & J.; series “ B,”
M. & 8.: series “ C,” M. & N.; and the C. C. C. & I. RR. guarantees
$750,000 of them.
There has been a large deficit on the company’s operations after de­
ducting the rental. Net earnings in 1886 were $444,513; rental paid,
$450,000; interest on bonds, $170,000; miscellaneous, $149,512; total,
$769,512; net loss to lessee in 1886, $324,999; deficit in 1885, $560,951. The road is only incidentally of advantage to its owners as a
route to St. Louis.
Operations and earnings for six years past were:
Passenge Freight (ton)
Gross
Net
Years.
Miles. Mileage.
Mileage.
Earnings. Earnings.
1882 .......... 265 21,008,318 202,985,772 $2,086,776 df.111,608
1883 .............. 265 20,963,061 196,667,532 2,131,621
172,419
1884 ............. 265 22,494.880 207.672,278 1,921,726
189,904
1885 .............. 265 20,596.678 216.121,867 1,855,903
249,249
1886 .............. 265 21,017,157 177,844,516 1,876,495
444,513
In d ia n ap olis Sc Vincennes, -Owns from Indianapolis, Ind.,
to Vincennes, Ind., 117 miles; branch, Bushrod to Dugger, 12 miles;
total, 129 miles. The Penn. Co. owns a controlling interest in the stock
and operates the road, advancing the deficiency to pay interest on the
bonds. The capital stock is $1.402.000; the debt due to Penn. Co. Deo.
31, 1886, was $1,513,007. In 1881 the net earnings were $10,260; in
1882, $19,350; in 1883, deficit, $11,031; in 1884, deficit, $9,570; in
1885, deficit, $5,847; in 1886, surplus, $26,298. Annual interest on
debt, $206,000.
I o w a F a lls Sc Sioux City—(See Map o f Illinois Central).—Owns
from Iowa Falls, la., to Sioux City, la., 184 miles. This road was opened
in 1870 and was leased to the Illinois Central for 20 years from Oct. 1,
1867, at a rental of 36 per cent of the gross earnings. The Illinois
Central had an option of continuing the lease after 1887 at] same rental,
but acquired the property by purchase of the stock. In the year
ending March 31,1886, the total rental was $261,667; receipts from
sales of lands, $283.500; the total net income was $613,882, and all ex­
penses. including dividends, $518,000. The contingent fund invested
was $1,450,000. Lands remaining unsold, 30,314 acres. In 1887 paid a
dividend of $30 from assets. Horace Williams, President, Clinton, la.
(V. 43, p. 607; V. 44, p. 439.)
Ith aca A u b u rn Sc W estern .—Owns from Freeville to Auburn,
N. Y., 38 miles. The New York & Oswego Midland RR., Western Exten­
sion, was sold in foreclosure, and this company organized Sept. 20,
1876. The stock is $975,800. On April 1, 1883, was leased to South­
ern Central of New York for the term of its charter, at a rental of 33*3
per cent of gross earnings, with guarantee that rental shall equal 4 per
cent on fir.-t mortgage bonds. In Nov., 1886, leased to Lehigh Valley
RR. with So. Central. Foreclosure has been consented to by a majority
of bondholders in order to change the form of bonds to confoini to the
terms of the lease.
J ack so n ville Southeastern.—Owns from Jacksonville to Centralia, la., 112 miles. This was the Jacksonville Northwestern & South­
eastern RR., projected from Jacksonville to Mt. Vernon, 125 miles. Bonds
were issued at $20,000 per mile, amounting to $600,000. In 1879 the
company was reorganized by the bondholders under this name. Stock
$1,000,000. In year ending June 30, 1885 gross earnings were $158,7 03; net, $45,304; interest on bonds, $61,390: def., $16,085. W. S.
Hook, Presid’t. Jacksonville. HL
J ackson ville T a m p a Sc K e y W e s t.—(See map)—Line of road
Jacksonville, Fla., to Sanford, 126 m.; Enterprise branch, 4 m. Leased
At. Coast St. Johns v I. R., Enterprise to Titusville, 37 m.; operates Jacksonv. St. Aug. & Halifax, 37 m.; total operated, 204 m. This road forms
a link in the Atlantic Coast line running from Jacksonville to Sanford,

[M a y , 1887.




R A IL R O A D STO CK S A N D BO N D S.

55

56

IN V E S T O R S ’

SUPPLEM ENT.

[VO L. X L IV .

Subscriber* w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, Ac., see notes of
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Jacksonville Southeastern—1st mortgage..................
General mortgage.....................................................
Jacksonville Tampa A Key Vent—1st mortgage, gold
JetTerson (Pa.)—1st & 2d morts. (Hawley Branch)..
1st mortgage (Susquehanna to Carbondale)..........
Jeffersonville Madison A Indianapolis—S tock ........
Jeff., Mad. A Ind., 1st M. (s. f. $15,000 per.year).
ao
do
2d mort....................................
Jersey Oity & Bergen —1st mortgage.........................
Joliet A Northern Indiana—1st m ort, guar, by M. C.
Junction (Philadelphia).—1st mort. (extended)....
2d mortgage..............................................................
Kanawha A Ohio—1st mort. ($10,000 p. m .)...........
Kansas Ventral—1st mortgage (for $3,200,000) —
Kansas Oily Clinton A Spring. 1st M., gold, gu ar...
Pleasant Hill & De Soto, 1st mort., gold...............
Kansas City Fort Scott A Qulf—Stook, common.......
Stock, preferred........................................ ...............
1st mortgage, land, grant, sink fund.....................
Mortgage on branches, guaranteed........................
do
do
.............................................
Equipment bonds (10 per cent retired annually)..
Ten-year coupon notes...........................................
Kans. O. Memphis A Birm.—1st M. ($25,000 p. m .).
Kansas City Springfield A Memphis—1st mort........
Plain bonds (red’ble at will at 105 and int.), guar
Memphis equipment bonds (guar.by K. C. S.A M.)
Current River RR., 1st mort., guar........................
Kentucky Ventral—Stock........ ................................ .
Covington A Lexington,mortgage, extended.......
Maysville Division mortgage..................................
General mortgage....................................................
Keokuk ADes Moines—1st M., int. guar. O. R. I. A P.

54
112
130
9
38
222
159
159
6
44
3*6
3-6
115
168
129
45
389
389
159
202
26

282
81
250
80
50
220
162

1880
18«2
1884
1867
1869
1866
1870
1873
1877
1882
1865
1886
1881
1885
1877

$1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500

1879
1880
1882
1883

100 Ao.
1,000
1,000

1087
1883
1884
1885
1887

1,000
1,000
1,000

1855

1,000

1881
1878

1,000
100 Ac.

Florida, and via South Florida road to Tampa, whence steamers run to
Havana. The road was opened March, 1886, and in its first year to
Mch., 1887, the gross earnings were about $370,000; for the year ending
March 1,1888, tue company estimates its gross earnings will approxi­
mate $500,000. The land grant is about l,5o0,000 acres. The bonds may
be redeemed before maturity at 110. Stock is $2,600.000. Gross earn­
ings on main line, 130 miles, for 1886, $206,595. N. Y. office, 10 Wall St.
J e ff e r s o n .—Owns from Susquehanna Depot, Pa., to Carbondale, Pa.,
87 miles; branch, Hawley. Pa., to Honesdale, Pa., 8 miles; total, 45
miles. Leased in perpetuity to the Erie Railway for $140,000 per
annum, and now operated by the N. Y. Lake Erie A West. Capital
stook, $2,096,050. Samuel Hines, President, Soranton, Pa.
Jefferson ville m adison Sc In d ia n a p o lis.—Owns from Jefferson­
ville, lad., to Indianapolis, Ind., 108 miles; branches—Madison, Ind.,to
Columbus, Ind., 45 miles; Columbus, Ind., to Shelbyville, Ind., 24 miles;
Jeffersonville, Ind., to New Albany, Ind., 6 miles; Shelby & Rush RR.,
18 miles ; Cambridge Extension, 21 miles ; total operated, 222 miles.
The road was leased to Pennsylvania Company from 1873, with a guar,
antee of Interest on bonds and 7 per cent on stock. Lease was modified
from January 1,1880, the lessees to pay over all the net earnings of
the J. M. A I. Co. The Pennsylvania Company owns $1,981,000 of
the stock. Dividends were at the rate of 7 per cent per annum till
May, 1880. Earnings for two years past were as follows: 1886, gross
earnings, $1,319,244; net, 357,775. 1885, gross earnings, $1,217,088;
net, $291,166.
Jersey City Sc B ergen .—Owns from Jersey City to Bergen Point,
N. J., 6 miles. In 1885 gross earnings, $362,972; net, $115,377 ; int.,
dividend and sink'g fund, $55,000. In 1886. gross, $411,062; net,
$102,384. Stock, $000,000. Dividends 7 per cent in 1886. C. B. Thurs­
ton, President, Jersey City.
J oliet Sc Northern In d ia n a .—Owns from Joliet, 111., to Lake
Station, Ind., 45 miles. Operated as part of the Michigan Central
main line. Road opened in 1854 and leased to the Mich. Cent. Above
issue of bonds definitely guaranteed was given as a compromise in
plaoe of old 8 per cent bonds. Stook ($300,000) carries dividends of 8
per cent per annum.
J u n ction (P h ila d elp h ia ).—Owns from Belmont, Pa., to Gray’s
Ferry, Pa., about 4 miles It connects the Pennsylvania, the Phila­
delphia A Reading and the Philadelphia Wilmington & Baltimore rail­
roads, coming into Philadelphia. Capital stock, $250,000. Net earn­
ings in 1882-3, $123,919; in 1683-4, $130,731; in 1884-5, $95.865; in
18o5-6, $131,212. Large dividends are paid according to reoeipts each
year. In 1884 paid 40 per cent, in 1865 paid 20 per cent.
K a n a w h a Sc O hio.—Corning, Ohio, to Charleston, W. Va., 115
mites, and to be extended to a point in Fayette Co., W. Va., in all 180
miles. The Ohio Cent. Riv. Div. defaulted on interest Sept, ’83, and
was sold Oct. 22, ’85, and this company organized and above bonds
issued. Bonds and stock of old company were assessed. (See plan, V.
40, p. 356.) $200,000 of the total of $1.800,000 1st mort. bonds are re­
served to retire the Ohio Cent. Mineral Div. bonds. Common stook author­
ized $2,200,000; 1st pref.. $6,o00,000; 2d pref., $4,000,000. Office, 2
Wall st., New York. Erwin Davis, N. Y.. Pres.; Nelson R »binson, Vicepresident. (V. 42, p. 23, 243, 519, 632, 694; V. 43, p. 132.)
K a n sa s C entral.—Owns from Chic. R. I. A Pao. Juno, to Miltonvale, 166 miles; leased Leavenworth to Chio. R. I. & Pao. Juno., 1 mile.
Sold under foreclosure of first mortgage April 14, 1879. Reorganized
April, 1879; on April 1, 1887, default was made on the interest then due.
Gross earnings in 1685, $268,059; def. $46,575; def. under interest, &o ,
$L27,455. Gr ms earnings in 1866, $217,673, def., $76,047; def. under
interest, Ac., $159,404. Stook, $1,346,000. Union Paoiflo holds
$l,313,40oef the stock and $1,162.000 bonds. (V. 44, p. 494.)
K a n s a s City C linton Sc Springfield.—Owns from Cedar June.,
Kan., to Ash Grove, Mo., 164 miles, and branch Raynor Junction to
Pleasant Hill, Mo., 10 miles; total, 174 miles. Road was built in the
interest of K. C. Ft. S. A G. RR., which company guarantees the bonds.
In Jan., 1885, the Pleasant Hill A De Soto road, 4i> miles, was purchased
from Atch. Top. A S. Fe RR., the K. C. C. A S. Co. assuming the bonds.
8tock authorized, $2,500,000; issued, $1,775,460, of whioh a majority
is owned by the Kansas City Fort Scott A Gulf RR.
K a n sa s City F o rt Scott Sc G u lf.—Mileage is as follows:
Mainline—Kansas City to Baxter Springs, 160 miles; branches—Weir
City to Cherry valle, 50 miles ; Arcadia to Coal Mines. 2 miles ; Baxter
Springs to Webb City, 22 miles; Rioh Hill Junotion to Carbon Centre
and Rioh Hill, 28 miles ; Fort Scott Junction to Springfield, 100 ; Coalvale to Cherokee, 26. Total operated, Dec. 31, 1886, 389 miles. In
October, 1884, the Pleasant Hill & De Soto road was purchased by the
Kansas City Clinton & Springfield, and the bonds assumed.
This company was organized April 1, 1879. as successor to the
Missouri River Fort Scott A Gulf, which made default October 8,
1873, and was sold in foreclosure February 4,1879. The first mort­
gage bondholders of the old road took 80 per cent in the new mort­
gage bonds, and for all other claims stock was issued. The brandies
have been built mainly by this company and bonds are guaranteed.
The Kansas City Clinton A Springfield bonds are guaranteed by Kans.
City Fort Scont A Gulf. (See V. 39, p. 234.)
The K. C. C. A S. failed to earn its interest by $52,000, which was
Advanced by this company, but the gross earnings of the K. C. Ft. 8.




$300,000
879.000
1,566,000
300 000
2,000,000
2,000,000
2,563,000
1,995,000
258,000
800,000
425,000
300.000
720,000
1,348,000
3,091,000
580,000
4,648,000
2,750,000
2,247,000
2.795,000
390,000
490,000
320,000
(I)
6,971,000
500,000
325,000
1,620,000
5,599,500
219,000
400,000
6,379,000
2.750.000

6
6
6 g.
7
7
1*«
7
7
7
7
41«
6
6
6
5 g.
7 g.
21«
4
7
7
5
6
6
5
6
6
6
5
1
5 &6
7
4 to 6
5

July 1, 1910
July 1, 1912
Jan. 1,1914
1887 A 1889
Jan. 1, 1889
May, 1881
Oct. 1, 1906
July 1, 1910
Jan. 1, 1903
July 10,1907
July 1. 1907
A p r ili, 1900
Jan. 1, 1936
A p r ili, 1911
Oct. 1, 1925
1907
Feb. 15, 1887
Feb. 15,1887
July 1, 1908
Sept. 1, 1910
Aug. 1, 1922
Deo. 1, 1893
1895
Mch. 1, 1927
Boston.
Boston. Nat. Union Bk. May 1, 1923
May 1, 1894
Deo. 1, 1897
1927
Boston.
May, 1881
Kentucky Central RR.
June, 1890
1906
N. Y „ Morton, B. A Co.
July 1, 1911
do
do
N. Y.,Farm. L. A T. Co. Oct. 1. 1923

J. A J, N. Y., Am. Ex. Nat. Bk.
do
do
J. & J.
J. & J. N. Y. Mercan. Trust Co.
J. A J. Honesdale Nat. Bank.
J. A J. N. Y., by Erie Railroad.
Q.—F. N. Y., Farm. L. A T. Co.
do
do
A. A O.
do
do
J. A J.
J. A J.
J. A J. N. Y.. Farm. L. A T. Co.
J. A J. Phila.. 233 So. 4th St.
do
do
A. A O.
J. A J. 1st coup, due Jan., ’89
A. A O. Office, 195 Broadway.
do
do
A. A O.
A. A O. Boston, 26 Sear’s Bldg.
Boston.
F. A A.
do
F. A A.
J. A D. Bost., Nat. Webster Bk.
do
do
M. A 8.
do
do
F. A A.
do
do
J. A D.
M. A S.
M. A N.
J.
A.
M.
J.
J.
J.
A.

A
A
A
A
A
A
A

D.
O.
N.
D.
J.
J.
O.

& G. were Increased $89,354 by interchange of business with the other
road. The gross earnings from business interchanged with K. C. S. A
W. was $743,182.
The annual report for 1886 was in V. 44, p. 432, showing the following
earnings and income account for four years:
INCOME ACCOUNT,

1833.
Receipts—
$
Total gross earns........ 2,016,212
Net earnings.................
837,663
Interest, A o.......................................
Total income............
Disbursements—
Interest on bonds.......
Leased lines interest..
K. C. 8. & M. proport’n.
Ft. Scott equip, bonds.
D ivid en d s.................
Rate paid on com.......
Do
pref... .
Sinking fund........ .
Miscellaneous.............

837.668
$
173,203
184,003
25,099
............
359,364
3
8
24,360
1,421

1884.
$
2,422,443
1,014,750
27,395
1,042.145
$
166,081
204,123
76,212
102,661
475,576
5
8
21,176
384

1885.
$
2,546,525
988,218
............

1886.
$
2,539,338
1,063,811
2,510

988,218 1,066,321
$
$
162,546
177,236
213,078
214,187
109,625
111,477
116,951
103,250
336,156
405,880
2>s
4
8
8
22,300
22,300
3,805
........

Total disbursements.
767,450 1,046,213
964,461 1,034,330
Balanoe........................sur. 70,218 def. 4,068 sur.23,707 sur.31,991
—(V. 42, p. 215, 6 2 9 : V. 44, p. 184, 4 3 2 )
K a n sas City M em phis Sc B irm in g h a m .—In May, 1886, it
was proposed to build 250.miles southeast from Memphis to Birming­
ham, Ala., the three corporations in three States were consolidated and
called the Kan. City Memphis & Birmingham RR. The total cost was
estimated at $5.460,760, and bonds for $25,000 per mile are issued.
The K. C. S. A M. owns half the stook and gives a trafflo guarantee o f 10
per cent of gross earnings derived from businecs to ana from the new
road. The bonds may be drawn or bought at 110. (V. 42, p. 631; V. 43,
p. 2 17;4V. 44, p. 275.)
K a n sa s City Springfield Sc M em p h is.—This organization em­
braces two corporations under the laws of Missouri and of Arkansas to
build a road from Springfield, Mo., to Memphis, Tenn., 282 miles.
Current River RR., from Willow Springs, Mo., to Cairo, 81 miles. The
Kansas City Fort Scott & Gulf appropriates 15 per cent of gross
earnings on business to or from the new road to pay interest on the
bonds, or retire the principal at 110. Capital stock, $5.264.500. The
equipment bonds are retired 1-12 annually, and all may be retired at
105 at any time. The Current River RR. bonds are guaranteed and were
issued as per circular in V. 44, p. 246. The report for 1886, in V. 44,
p. 585, showed gross earnings of $1,569,708, and net, $480,709; also
$131,475 trafflo guarantee received. (V. 42, p. 315, 537, 631, 7 8 2 ; V.
44, p. 246, 585.)
K en tu c k y Central.—Owns from Covington, K y„ to Livingston,
Ky., 154 miles; Paris to Lexington, 19 miles; leases Paris, Ky., to Mays­
ville. Ky., 49 miles; Richmond to Stanford, 34 miles; total operated, 253
miles.
This was formerly the Covington A Lexington RR., whioh
was foreclosed in 1859. In 1875 the present company was formed.
In June, 1881, a majority of the stock was purchased by Mr. C.
P. Huntington of the Chesapeake A Ohio road. This Co. leased of the
Louisv. A Nashv.RR. its Rionmond branch for 99 years from Jan 1,1883,
for $24,000 per annum, with aright to purchase at any time for $400,000.
In February, 1884, the stook was assessed 10 per cent, and holders of
$5,600,000 of the general mortg. agreed to take 4 per cent for three
years beginning July 1,1884. On Jan. 29,1886, Mr. Henry HuntiDgton
was appointed receiver, and foreclosure sale took place on April 23, ’87.
It is proposed to issue new bonds bearing 4 per cent and runniug 100
years; the stock is to pay another assessment of 2 per cent (additional
to the 10 paid in 1884), andfivill then receive stock in the new company.
No report for 1886 issued The annual report for 1885 was in V. 42, p.
547.
INCOME ACCOUNT.

Total gross earnings...................
Net reoeipts................
Disbursements—
Rentals paid....................................
Interest on debt.....................
Taxes and miscellaneous..............

1883.
$838,975
$356,819

1884.
$922,107
$318,487

1885.
$847,071
$309,621

$52,000
214,563
39,731

$62,074
256,880
50,402

$61,210
255,250
69,853

Total disbursements..................
$306,294 $369,356
$386.313
Balanoe*........................................... sur. 50,525 def. 50,869 def. 76,692
•The surplus Dec. 31,1884, was $719,327; deduct (deficit as above,
$76,e92, and $13,200 paid for old claims) $39,892, leaving balance to
surplus Dec. 31,1885. $629,435.
—(V. 42, p. 60, 187, 272, 54 7 ; V. 43,p. 634,746,774; V. 44,p. 211,369,
551, 653.)
K e o k n k Sc Des M o in es.—Owns from Keokuk, la., to Des Moines,
la., 162 miles. This was a reorganization, Jan. 1, 1874, of the Des
Moines Valley Eastern Div., sold in foreclosure October 17, 1873.
The property was leased for 45 years from Oct. 1,1878, to the Chicago
Rock Island A Pac. RR. on the terms following: that the lessee pay 25 per
(cent of the gross earnings to this company, but guarantee the interest




IN V E S T O R S ’

SUPPLEM EN T.

[Y ou XL1V.

Snbscrlber» w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rato per When
For explanation of column headings, &c., see notes of
of
Par Outstanding
Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Keokuk Western—Note secured by mortgage....... 148
....
....
$300,000
7
....
At will.
Kings County Elevated........................ .....................
at
Kingston & Pembroke—1st mort................................ Ì34 1882 $1,000
572,000
6
J. A J. N.Y.,R. P. Flower A Co.
1912
Lackawanna <GPittsburg—Mortg. (for $2,000,000) ....
....
....
1,642,000
6
A. A O. Last paid April, 1884 April 1, 1923
Income bonds............................................................. •••• 1883
....
800,000
6
A
p
rili,
1923
Allegany Cent., 1st mort., gold, payable at 105...
62 1881
1,000
281,000
6 g. J. A J. Last paid July, 1884 Jan. 1, 1922
do
2d mortgage, gold........................
62 1882
....
59,000
6 g.
Last paid Oct., 1884
do
Income mort., not cumulative.
.... 1882 500 Ac.
36,000
6
Jan’ary
Jan. 1,1912
Lake Erie <&Western—Common stock................. .
£92
....
100 11,840,000
Preferred stock, 6 percent (not cumulative)........ 592
100 11,840,000
1st mortgage, gold................................................... 592 1887
1,000
5,920,000
5 g. J. A J. New York, Agency.
Jan. 1, 1937
Lake Shore <£- Michigan Southern—Stock.................. 1,340
••••
100 49,198,400
2
Q .-F . N.Y..Grand Cent.Oflice. Feb. 15, 1887
Guaranteed 10 per cent stock................................ «...
••••
100
533,500
5
F. A A.
do
do
Feb. 1. 1887
Consol. 1st mort., (sink, fund, 1 per cent) coupon, 864 1870
1,000
< J.AJ.
f July 1, 1900
7
do
do
do
registered 864 1870
1,000 j 15,091,000
1 July 1, 1900
t
Q
.-J.
do
do
do
............. .
864 1870
1,000
849,000
5
1887 to 1890
Consol. 2d mort., do. (for $25,000,000) coup.A reg. 864 1873
1,000 24,692,000
7
J. Â *D.
Dec. 1, 1903
Lake Shore dividend bonds...................................
258 1869
1,000
1,356,000
7
A. A O. Coupons are paid by
April 1, 1899
8d mortgage (C., P. & A. RR.) registered bonds..
95 1867
1,000
920,000
7
A. A 0.
Treasur’r
at
Gr’nd
Oct.
1, 1892
Buffalo A Erie, mortgage bonds.............................
88 1868 500 Ac.
2,784,000
7
A. A O.
Central Depot, N.
April 1, 1898
Det. Monroe & Tol., 1st mort., coup., guar...........
62 1876
1,000
924,000
7
F. A A.
Y., and registered
Aug.
1, 1906
Kalamazoo A White Pigeon, 1st mortgage..........
37 1869
1,000
400,000
7
J. A J.
interest by Union
Jan. 1, 1890
Schoolcraft A Three Rivers. 1st mortgage............
12 1867
1,000
100,000
8
J. A J.
Trust Company.
July
1,
1887
Kalamazoo A Schoolcraft, 1st mortgage...............
13 1867
1,000
100,000
8
J. A J.
July 1, 1887
Kalamazoo Allegan A Gr. Rapids, 1st mortgage...
58 1868
1,000
840,000
8
J. A J.
July
1,
1884
Kal. Allegan & Gr. Rapids, stock, 6 p. c. guar___ , . . . .
....
....
610,000
3
A. A O.
April 1, 1887
Jamestown A Franklin, 1st mortgage...................
51 1863
1.000
298,000
7
J. A J.
Var.to
JTv,’9?
Jamestown & Franklin, 2d mortgage...................
51 1869
1,000
500,000
7
J. A D.
June 1, 1894
Lawrence—Stock........................... ..........
22
50
....
500,000
2
Q.- J.
Pittsburg Office.
April 2. 1887
1st mortgage....................................
17 1865
1,000
314,000
7
F. A A. N. Y., Winslow. L. A Co. Aug., 1895
Lehigh <6 Hudson River—1st mortgage, gold............
41 1881
1,000
6
800,000
J. A J. Cps.fund.J’y ’85-Jan ’8 July 1, 1911
Warwick Valley, 1st mortgage...............................
22 1879 500 Ac.
145,000
6
A. A O. N. Y. Nat. Ex Bank.
1899
do
2d mortgage........................... .
22 1381
1,000
240,000
6
A O.
do
do
1911
not the principal) on the preient bonds. The stock is $1,524,600 of 8 cent dividends. The ordinary stock has paid the following dividends
per ceut preferred and $2,600,400 of common, a majority of which is since 1870, viz.: In 1871,8; in 1872,8; in 1873,4; in 1874, 3*4 : in
held by the lessee. In the year 1885-86 gross earnings were $458,050, 1875,2; in 1876, 3^4 ! in 1877, 2 ; in 1878, 4 ; in 1879, 6*3; in 1880,
and rental, at 25 per cent, $114,512, leaving $22,987 deficit on theiuter- 1881, 1882 and 1883, 8 per cent each year; in ’ 84,7: in ’85 and ’86, nil.
est charge paid by lessee. A dividend of 1% per cent on preferred stock
The range in prices of stock since 1870 has been: In 1871,85*20116*4;
was paid December, 1881
1872, 831209814; 1873, 57*4097%; 1874, 67’t8@8458; 1875, 51*4®
K e o k u k Sc W e s t e r n —Road owned from Keokuk, la., to Van Wert, 80*2; 1876, 48%@G8S8 ; 1877, 45@733s; 1878, 578®715«: 1879, 67®
la., 148 miles; was lormerly the Mo. Iowa & Neb., par t of the Wabash 108; 1880, 95 01393s; 1881, 11258®135%; 1882, 980120*8; in 1883,
system sold in foreclosure Aug. 19,1886. and reorganized under this 92%®11478; in 1884, 59*2® 104%: in 1385, 50%®897s; in 18S6, 76*s
title. Stock $4,000,000. F. T. Hughes, Pres’ t, Keokuk, la.; G. H. Can- ®1003a; in 1887 to May 20, 900985s.
dee, 52 William Street, N. Y., Vice-Pres’t. A 7 per cent note secuied by
The first consolidated mortgage bonds are redeemed each year by
mortgage was given, payable at will. Gross earnings for three months $250,000 contributed to the sinking fund. The above bonds of all
from Jan. 1 were $74,862 in 1887, against 465,974 in 1886; net earn­ classes outstanding are'given less the amounts held in the sinking
ings. $23,342, against a deficit of $3,792.
funds, which amounted to $4,000,000 Dec. 31, 1886.
K in g s County E le v a t e d .—Line of road on Fulton Street, Brook­
O p e r a t io n s , F in a n c e s , A c .—The annual reports of this company are
lyn. in January, 1886, the following directors were re-elected: Q. A. models of clearness in all the statistical matter. The roa l is greatly
Gillmore, James J ourdan, Harvey Farrington, E. A. Abbott, Samuel dependent on through traffic, or traffic from competitive points, and its
Thorne. James O. Sheldon, George Shea, Henry J. Robinson and Wen­ business is injured by any cutting of rates.
dell Goodwin. The financial statement showed that 10 per ceut of the
In 1882, 140,500 shares preferred stock and 124,800 shares of com­
bonds had been paid in, amoui.ting to $275,000. The directors elected mon stock of the New York Chicago & St. Louis Railroad (a con­
these officers: President, General Gillmore; Vice-President, General trolling interest) were purchased and $6,500,000 of Lake S. & Mich.
Jourdan; Treasurer, James H. Frothingham; Secretary, Henry J. 8. 2d consol, mortgage bonds issued to pay for it, making an Interest
Robinson. (V. 42, p. 93 ; V. 44, p. 421.)
charge of $456,890 per annum.
K in g s t o n Sc P e m b rok e, —Owns from Kingston, Ontario, Canada
In 1886 the company sold $149,000 first consolidated mortgage
to Renfrew on the Canadian Pacific RR., 101 miles; branohes, 30 miles’ bonds to redeem old bonds falling due, and this lot of the consols bear
total, 134 miles Bonds are redeemable *n notice at 105 Offered in only 5 per cent interest and may be redeemed by instalments on Oct.
New York. In 1887 by R p. Flower A Co. Stock, $4,500,000; par $50 1 each year till 1890.
Gross earnings, 1686, $148,563; net, $48,318; fixed charges, $3 4,320 ;
For the quarter ending March 31,1837, the prelUninary report, partly
401^ 4 0 2 ^ 4 ’028. ®eo
statement in V. 44, p. 402. (V. 44, p. 332) estimated, was as follows :
1886.
1837.
L a ck a w a n n a Sc P ittsb u rg.—A consolidation in April, 1883, of Gross earnings...........................................
$3,508,524
$4,0*5,000
the Allegany Central and the Lackawanna A Pittsburg. Road operated Operating expenses and t a x e s ..» ..........
2,212,380
2,670,000
from Lackawanna Junction, New York, to Perkinsville, 41 miles •
Swain’s to Nunda, 12m., and Olean to Angelica, 39 m.—total, 92 miles.’
Net earnings....................................... $1,296,144
$1,415,000
2 ? ®JAst-named line is 3 ft. gauge and the others standard gauge. Stock Interest, rental, &c...................................
928,245
915,000
$5,000,000, of which $1,500,000 is preferred. In 1884 Company became
embarrassed and in Deo., 1884, a receiver was appointed, and in Feb
Surplus.................................................
$367,899
$500,000
1880, was authorized to borrow $5(,000. Geo. D. Chapman, Pres’t and Equals per share..................... ................
74 per cent.
1 per cent.
New York City. Earnings in 1885-6, $50,943; deficit,
The annual report for 1886 was published In V. 44, p. 583, containing
$17,859.—(V. 42, p. 215.)
the tables below, showing the earnings and income account for a series
. L a k e E r ie Sc W e s t e r n R a ilroa d .—(See Map)—Owns from San- of
years:
*?, JE>eoria>IH-« 430 miles, and from Indianapolis to Michigan
OPERATIONS AND FISCAL RESULTS.
City, 162 it lies ; total, 592 miles. This is the naw company fo rce d in
1883.
1884.
1885.
1886.
1887 alter foreclosure (on Dec. 14, 1886,) of the Lake File & Western
operated........
1,340
1,340
1,340
1,340
railway, which had been made up by a consolidation, Dec. 12,1879, of Miles
Operations—
toe Lafayette Bloomington A Muncie and the Lake Erie A Western
This company in March, 1887, purchased the Indianapolis Peru A Chic Pass’ger mileage.... 215,715,155 190,503,852 176,830.303 191,593,135
2-058 cts.
2-098 cts.
i ( f o r m e r l y part of Wabash). The capitalization is at the Rate p. pass. p. mile 2196 cts. 2-170 cts.
rate of $ 10,0 <0 per miie ol bonds, and $20,000 in common and $ 20.000 Fr’ght (t’ns) mileage * 1,639,512 *1,410,545 *1,602,567 *1,592,044
Av.
rate
p.
ton
p.
m.
0-728
cts.
0-652
cts.
0-553
cts.
0-639
cts.
in preferred stock per mile.
Earnings—
$
$
$
$
„ JÌKP fl8caJ y®®1, ° f thi8 company terminates June 30. No report for Passenger....................
4,736,088
4,133,729
3,639,375
4,020,550
1886 was issued.
12,480,094 9,358,817
9,031,417 10,329,625
_
.
1881-82.
1882-83.
1883-84.
1884-85. Freight.......................
Mail, exp., rents, &c.
1,297,474 1,351,038
1,462,713 1,509,280
Earnings—
$
$
$
$
332,608
348,532
308)033
312,338 Total gross earnings 18,513,656 14,843,584 14,133,505 15,859.455
fftWMger................
ET®1.«11*1............
936,008
1,023,032
815,037
891,615
Operating Expenses—
$
$
$
$
Mail, express, A o ...
155,397
131,959
141,124
31)797
Mamt’oe of way, Ac.
2,095,492 1,532,252
1,614,777 2,014,041
990,907 1,111,329
1,317,379 1,340,291
Total gross earn..
1,424,013
1,503.523 1,264,194 1,235 750 Maint. of equipment.
Transport’nexp’nses
6,592,742 5,380,166
5,277,414 5, 92,943
Oper. expenses........
1,154,080
1,429,524 1,004,429 1,063,3.2 T
a x e s .......................
530,236521,543
518,668
485,946
Miscellaneous
t........
792,476
588,231
529,269
668.398
Net earnings............
269,933
73,999
259,765
172,367
C. R. CummiDgs, Chicago, Pies’t ; C. S. Brice, N. Y.. Vice-Pres’t.
- ( V . 42. p. 60, 155, 187, 242; Voi. 43. p. 1 49, 66, 132, 274, 431, 607.
634, 6 .1, 746; V. 44. p 22, 90,118, 21 ', 401, 527, 553.)
. f * * e S h o r e Sc M ich igan Sou th ern .—Line o r Road —Buf­
falo, N. Y., to Chicago, 111., 540 miles; branohes owned, 324 miles. Other
to e s wned as follows: Detroit Mon. & Toledo, 62 miles; Kalamazoo A
WhitePigeon, 37 miles; Northern Central (Mich.), 61 miles; total, 16o
uoies. Roans leased are as follows: Kalamazoo Allegan & Gr. Rapids
58 miles; Jamestown A Franklin, 51 miles; Mahoning Coal R., 43 miles
Detroit Hills. & Southwest., 65 miles; Fort Wayne A Jackson, 98 miles ;
total, 315 miles. Total road owned, leased and operated, 1,340 miles
* 9 -—T1^8 company was a consolidation of the Lake
Bliore RR. mid Michigan Southern <fc North. Indiana RR. May 27, 1869
and to» Buffalo* Erie RR. August 16,1869. The consolidated line em’
braces the former roads of the Cleveland & Toledo and the Cleveland
Fhhsesvlllo Sc Ashtabula railroads. The stocks of some of the railroads
which entered into the consolidation forming the Lake Shore & Michigan
Southern road had been largely increased by stock »listributious, and on
toe lines between Buffalo andToledo the profits had been so large that
the capital of several of the companies had been repeatedlv watered
The roads leased at fixed rtntals are the Kal. Allegan & Grand Rapids!
Jamestown A Fi anklin and Mahoning Coal. The Detroit Monroe & Tol.
Kalamazoo * White Pigeon and the Northern Cemral o f Michigan are
proprietary road« con.rollei oy ownership of their stock. The MahouLOal RR. is leased and its sfoca a id bonds guaranteed. The New
York Chicago A St. Louis road is similarly controlled by the purchase
made in 1882. The Chicago & Canada Southern is also operated by the
Lake Shore & Michigan South.
8 tocks and B onds.—The guaranteed stock of $533,500 carries 10 per




Total................... 11,001,853
9,133,521
Net earnings...........
7,511,803
5,710,063
P.c.of op.ex.to ear’gs
59-43
61*53

9,287,537
4,845,968
65-71

9,731,622
6,127,833
61-36

* Three ciphers omitted.
t Includes damage and loss of freight and baggage, personal injuries,
law expenses, rente payable and hire of cars.
INCOME ACCOUNT.

Receipts—
Net earnings............
Interest, divid’s, Ac.

1883.
$
7,511,803
158,540

1884.
$
5,710,063
............

1885.
$
4,845,968
..........

1886.
$
6,127,833
110,752

Total incom e....

7,670,343

5,710,063

4,845,968

6,238,585

R ^ t^ p a id ”^ . . .
471,876
446,450
Interest on debt.......
3,132,120
3,220,870
Dividends................
53,350
53,350
Sinking fund.........................................................

439,168
3,374,938
53,350
250,000

443,900
3,326,480
53,350
250,000

Total disbursem’ts 3,657,346
3,720,670
Surplus for div’d . ...
4,012,997 1,989,393
invidends..................
3,957,320 2,473,325
Rate of dividends...
(8)
(5)

4,117,456
728,512
............
................

4,073,730
2,164,85
989,33
(2 )

Balance.................... sur 55,677 def.483,932 sur. 728,512 sr*l,175.525
* From this surplus, $192,522 was applied to reduction of pay-rolls,
vouchers, Ac., at end of 1885.

M a y , 1887.J

R A IL R O A D STO C K S A N D BO N D S.

59

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Table*
Bonds—Prinoi DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
of
Par Outstanding
Rate per When Where Payable, and by Storks—Lust
For explanation of column headings, Ac., see notes of
Road Bonds Value.
Cent. Payable
on first page of tables.
whom.
Dividend.
25 1877 $1,000
$600,000
Lehigh <é Lackawanna—1st A 2d mortgages...........
7
J. A D.
Philadelphia.
Deo. 1.1907
1
50 33,112,800
Lehigh Talley—Stock ($106,300 is pref.).................. 323
Philadelphia, Office. April 15.1887
Q '-J 101 1868
1,000
5,000,000
6
1st mortgage, coupon and registered................
J. A D. Reg.atoffice; op.B’kN.A June, 1898
1,000
2d mortgage, registered........................................... 101 1870
6,000,000
7
M. A S. Philadelphia, Offioe.
Sept., 1910
1,000 14,257,000
6
Consol, mort., gold, $ & £ (s. fd. 2 p.c. y ’ly) op.& reg. 232 1873
J. A D.
do
do
1898 A 1923
Easton A Amboy. 1st mort., guar.(for $6.00C,000)
1,000
5
60 1880
4,500,000
M. AN.
do
do
1920
1872
1,000
Delano Land Company bonds, endorsed.............
1.395,000
7
J. A J.
do
do
Jan., 1892
50
2
Little Miami- -Stock, common..................................
196
....
4,837,300
Q.—M.
Cincinnati.
June 10,1887
___ 1864
1,000
Street con. 1st M. bds (jointly with Cin. A Ind.RR.
250,000
6
J. A J. Cinn., Lafayette Bank.
1894
1,000
84 1882
Renewal mortgage............................... ...
1,500,000
5
M. A N. N. Y., Bank of Amerloa. Nov. 2, 1912
Little Rock <é Fori Smith—1st M., landgr.sink. fd... 165 1875 500 Ac.
2.314,500
7
I. A J. N.Y., Mercantile Co.
Jan. 1, 1905
....
510,021
Funding coupon scrip..............................................
7
J. A J.
do»
do
Little Rock Mies. River <£ Texas—1st mortgage........ 170 1876 500 Ao.
1,871,500
7
J. A J. Last paid Jan., 1882. Jan. 1, 1906
2d mortgage..................... ............................. .
1881
1,000
1,106,000
7
A. A O. Last paid April, 1882.
1911
Little Schuylkill-Stock.......... ....................................
"si
...»
50
2,487,850
3»« J. A J. Philadelphia Offioe.
Jan. 8, 1887
Long Island—Stock........................................... ......... 354
50 10,000,000
1
Q.—F. N.Y.,Corbin Bank’g Co. May 2, 1887
1st mortgage, extension...........................................
I860
500
175,000
7
M. A N.
do
do
May 1, 1890
95 1868
1st mortgage, m ain.................................................
500
1,121,500
7
M. A N.
do
do
May 7, 1898
2d mortgage.......................................... ............. .
156 1878 100 Ao.
268,905
7
F. A A.
do
do
Aug. 1, 1918
Consol, mortgage, gold (for $5,000,000)................ 164 1881
1,000
3,430,000
5 g. Q .-J .
do
do
July 1, 1931
New York & Rockaway, guar. int. only...............
10 1871
500
250,000
7
A. A O.
do
do
April 1,1901
Smithtown A Port Jefferson mortg., guar.............
19 1871
500
600,000
7
M. A 8.
do
do
Sept., 1901
Equipment certificates...........................................
60,000
7
Long Island Oily <£Flushing—1st M., coup, or reg. 10% 1881
1,000
600,000
6
M. A N. N.Y., Corbin Bank’g Co. May 1, 1911
Income bonds (cumulative) ($350,000).................. 10% 1881
1,000
312,000
6
Jan. 1
do
do
May 1, 1931
Los Angeles <£ San Diego—1st M. (for $2,800,000)..
27 1880
1,000
556,000
6
J. A J. N. Y., Central Paoiflo. July 1, 1910
Louisiana Western—1st mortgage, g o ld .................. 112 1881
1,000
2,240,000
6 g. J. A J. N. Y., South Pao. RR. July 1, 1921
Louisv. Fvansv. <6 St. Louis.—1st mort. E. R. A E ...
72 1881
1,000
900.000
6
J. A J.
July 1, 1921
1st mortgage, gold, for $2,000,000 (2d on 72 M.). 255 1886
1,000
1,000,000
6 g.
1926
2d mort., gold, for $1,000,000,1st coup, due ’87.. 255 1886
1,000
3,000,000 2 to 6 g.
1936
Louisville <£ Nashville—Stock.................................. 2,065
100 30.000,000
3
P. A A. j. A N. RR., 52 Wall St. Feb. 1, 1882
General mort., gold, coup, or reg. ($20,000,000). 840 188*0
1,000 12,207 000
6 g. I. A D. NT. Y., Drexel, M. A Co. June 1, 1930
GENERAL BALANCE AT CLOSE OP EACH FISCAL YEAR.
_
1883-84.
1884-85.
1885-86.
1883.
1884.
1385.
1886.
Disbursements —
$
$
$
Assets—
$
$
$
$
Interest on debt................................ 2,057,207 2,059,541
2,048,201
Railr’d, bnlld’gs, Ac. 70,048,600 70,043,600 70,018,600 70,048,600 General, taxes, float’g Int., loss on
Equipment............... 17,300,000 17,300,000 17,300.000 17,300,000
Morris Canal, depreciations, Ac.
473,355
650,385
682,003
R’l est. & office prop.
365,780
365,780
365,780
354,167 Dividends*......................................... 2,372,242 1,660,234
1,331.531
Cll. A Can.So.bds.,&o.
715,000
71ft,000
715,000
715,000
Stocks owned, cost..
9,414,477 12,012,839 12,195,068 12,113,700
Total disbarsements..........
4,902,804 4,370,160
4,061,735
Bonds owned, co st..
1,554.030
933,030
645,400
674,400 Balance, surplus.....................
37,474
30,103
40,251
Advances..................
1,421,342
1,454,942
1,461,147
1,525,859
Materials, fuel, A c...
1,221,178
966,311
673,474
596,430
*
In
1884,
10
on
pref.
and
8
on
oom.;
In
1885,10
on
pref.
and
5 on
Cash on hand...........
317,320
218,682
235,795 2,559,928 com ; iu 1886,10 on pref. and 4 on com.—(V. 42, p. 1 2 3 ; V. 44, p.
Uncollected earnings
582,545
1,249,858
1,588,590 1,216,840 1 1 7.)
L ittle M ia m i.—Owns from Cincinnati, O., to Springfield, O., 84
Total assets........ 102,940,272 105,265,092 105,228,854 107,104,924
miles; branch, Xenia, O., to Dayton, O., 16 miles; leased, Columbus A
Liabilities—
$
$
$
Stock........................ 50,000,000 50,000,000 50,000,000 50,000,000 Xenia RR., Xenia to Columbus, O., 55 miles; Dayton A West. RR., DayBonds....................... 44,466,000 47,716.000 47,466,000 47,216,000 ton, O., to Indiana State Line, 38 miles: Ohio State Line to Riohm’d, Ind.,
Conn. RR., 2 miles; total operated, 198 miles. The
Dividends................
1,016,005
26,675
26,674
1,016,005 f/R., 15v-Ginoln*
2,506,589
Other liabilities.......
2,975,161
1,131,670
839,148 Uttle Miami Railroad proper extends from Cincinnati to Springfield, but
Profit and loss.........
4,951,678
4,547,256 6,604,510 8,033,771 the portion between Xenia and Springfield is now operated as a branch ;
for the remainder of the mainline, as given above, the Col. A Xenia*
Total liabilities.. 102,940,272 105,265,092 105,228,854 107,104,924 road, Columbus to Xenia, is used. On Jan. 1,1865. they leased the Dayton
A West. (Dayton to Ind. State line) and the Rich. A Miami (State line
-<Y . 42, p. 4, 22, 272,561, 57 3 , 631, 728, 783: V. 43, p. 6, 23,245, to Richmond),
on Feb. 4 , 1865, purchased the road from Xenia to
634, 774; V. 44, p. 6, 22. 276, 401, 583.)
’ Dayton; these and
three roads go to form the branch of 57 miles given
L a w r e n c e .—Owns from Lawrence Junction, Pa., to Youngstown, O., above. The partnership agreement was dissolved Nov. 30,1868, and a
18 miles; branch from Canfield Junction to Coal Fields, O., 4 miles; total contract made by which the Col. A X e u a road, including Its interest In
PP^SSE’ 22 miles- Tke Lawrence Railroad was leased June 27, 1869, the above-named branches, was leased to the Little Miami for 99 years.
_ i F o r t Wayne & Chicago RR. at 40 per cent on gross earnings,
On December 1, 1869, the Little Miami, with all its branohes, Ao.
with $45,000 per year guaranteed as a minimum. Lease hasbeentrans- was leased to the Pittsburg Cincinnati A St. Louis Railroad Com­
ferred to Pennsylvania Co., by which the road is now operated. Gross pany for 99 years, renewable forever. The Pennsylvania Railroad
earnings in 1885. $166,236; net, $74,123; rental from Penn. RR. and Company Is a party, to the contract and guarantees its faithful execution.
interestreoeived, $67,159; payments, $82,199. Gross in 1886, $210,991; Road Is now operated by Pittsburg Cta. A St. Louis Railway Co. Lease
net, $78,007: rental and interest, $84,396, less to Pa. RR., $7,629.
rental Is 8 per cent on $4,837,300, interest on debt and $5,000 per
L e h ig h dc H u d s o n R i v e r .—This road was opened from Grey annum for Little Miami Company’s expenses of organization; the fulfil­
^ u P i i 0a F E ,roatL to Belvidere, N. J., 63 miles, August, 1882. Con­ ment of the lessor’s lease obligation is also stipulated. In 1886, rental,
solidation April, 1882. of the Lehigh & Hudson River and the Warwick Ac., received, $684,129; payments, $668,677; surplus, $15,452. Iu
valley roads. In addition to above there are $65,000 Wayawanda 6 ner 1885 rental, Ao., $697,787; payments, $664,677; surplus, $15,452,
cent bonds due 1900 and $52,000 Lehigh A Hudson River 2d 6s loss to lessee, $423,976.
8tock’ $1.340,000. Coupons due July, 1885. not paid, and
L ittle R o c k & Port S m ith .—Owns from Little Rook, Ark., to
bondholders agreed to fund four coupons July, 1885, to Jan.,1887, in- i ort
Smith, 165 miles; branches, 5 miles; total, 170. In Dec., 1874.
wliS1rk n ,Dua>i1i « 5, a trafflc c?ntract was made with Lehigh Coal A the property (then 100 miles), Including the land grant, was sold in
onbona's » u S n u 86? f f l i T 111188' $209,294; net, $81,993; interest foreclosure. This company afterwards built 65 miles, and opened the
84,674. In 1884-85 gross earnings $173,007. net, $65,012; road to Fort Smith July 1, 1876. In June, 1883, bondholders funded
deflcR under interest, Ac., $20,162. Grinnell Burt, Pres., Warwick N Y V“
? . 10 year scrip the coupons falling due July, 1883, and January,
p »* o f
W a n Va ,_0 w n 8 . froru Bethlehem, Pa., to Wind
Gap, Pa., 25 miles, thence, in connection with the Wind GaD & Dela­ 1884. Payment of coupons In cash resumed July, 1884.
The
unsold Jan. 1,1887, amounted to 609,981 acres, and land
ware Railroad, to Bangor, Pa., 32 miles. It is operated by the Central notes, lands
$411,876.
Railread of New Jersey imder a special agreement. Opened in 1867
In March, 1887, the proposal was accepted by stockholders to exmorth Cani°talstackd »3 7 O % n 00r are a ls t - m oit ” and $500,000 2d change four shares of stock for three of the St. Louis Iron Mountain
$ 1 2 / 7 2 3 In 1886? n e tf $13^860.
° 8S earal11« «
1885, $62,076; net, A Southern, and the road thus passed to the Gould Interest and an extension was put under way from Van Buren to Fort Gibson, In the
*f,?BIgli V a lle y .—Owns from Phillipsburg (Pa. Line), N. J to Lberokce Nation, and tills company was consolidated with others.
Wtikesbarre, Pa., 104 miles; branches—-Penn Haven to Audenried (V. 44. p. 551.) In 1886 gross earnings were $723,346; net, $77,*-78;
^ Bazle tteek Bridge to Tomhlcken (and branches), 32 miles** Interest on bonds, taxes, Ac., $270,708; balance, surplus, $116 539
Lumber Ya,rd to Mllnesville (and branches), 18 miles; Black Creek Junc- Annual report In V. 44, p. 585. (V. 42, p. 155. 215 574* V 43 n 125
’ P'
*
B e ^ S k S ? M £ anE e8)V6
4
’ Slated^e brenchf4 mUes^ 334, 487; V. 44, p. 275,308, 434) 494,495, 551, 5850
WiBce^areeJ
S
sState
a ? r Line
£?"eekI.1
i?lles;
Junction
to
Little Rock. M ississippi R iv e r Sc T e x a s.—Owns from Little
arr^’ i10omiles;
A iBull.
RR.,Lackawanna
Monroeton to
Berwick
24 miles; also owns the Easton A Amboy RR., Ambov N J toPennsvi’ Rock to Arkansas City, 113 miles: Tripps to Warren, 53 miles; Rob
vanta Line, 60 miles; total operated, 346 miles
7’
’
8yl" Roy Junction to Mlcawber, 4 miles; total, 170 miles. This com­
was a reorganization of the Little Rock Pine Bluff A New Orleans
ordtaiitstock
01since
ihe coal
the pany
Railroad and the Mississippi Ouachita A Red River Railroad. Both
V.V« * nave Deen as follows
1870road8
• Tn i Dividends
«71 iQ70 on
1070
l $74 and 1875,10 per cent paid; in 1876,9; in 1877 5 V ) n 1S78 i « ? « those companies received land grants and State aid bonds, and this comandl880, 4 ; in 1881, 5 % in 1882, 6^; m 1883¿ ¡ a 1884 »■ ta ll
pany is involved with others as defendant In the suits by Arkansas State
bondholders. The coupons due Jan. 1,1883, were not paid, and serin
£ follows'• 1^1878* 32i o ^ ? ° nf^Badelphia stale 1 S77were was
offered to bondholders for two years’ interest to be funded. Fore
closure suits were begun in Nov., 1885, and In Feb., 1886, E H.Wln
^ t\ia «ln
in,1886,55^4-3)62; in 1887 to May 20 55®57 Chester and John Reed were appointed receivers. A new plan of reor­
ganization was referred to in the Ch r o n ic l e of Oct 30,1886, p. 515.
c S 5 i “ i T i r i Sn V 'e" i f f r„30- ™
» » ¡S
The road was sold Dec. 15,1886, and sold again Jan. 28,1887, and pur^ a«nnVuw.rep;^rr^o’ in Eft
of/ ay Would for the nominal price of
expenses and Income account for thejisral years elding Nov 30.^ere : f q’« I M 30* (V< 42> p* 304; V* 43’ P* 515>607, 618, 733; V. 44, p, 22, 59,
JLoDj Z77*i
1884-85.
a .™ « » « 188SW1.
1885-86.
$
L ittle S c h u y lk ill.—Owns from Port Clinton to Tamanend, 28
$
6,079,542 5,669,236 mUe?,V>“ ranches, 3 miles; total operated, 31 miles. The East Maha1,617,236
noy
RR., was leased Jan. 12,1863, for 99 years, and sub-leased to Phila.
2,106,469
Passenger, mail, express, Ac........
889Í496
860,139
969,05 L
4
’ i ? 38*
Little Scb'iykill Railroad is leased to the
Philadelphia
A Reading Railroad for 9 J years from July 7,1868, at a
a 01 a «wr
Total gross earnings........
8,556,917 8,744,756 fixed annual rental
Operating expenses
5,246,073
4,888,998
5,293,816
L o n g I s la n d .—Owns from Long Island City, N. Y., to Greenport, N. Y., 95 miles; branches, 82 miles; total owned, 177 miles.
Hrt earnings................ i S o S i f f i S ^ ‘ ^ ^ ^ " ^ 450,940 Leased—Smithtown
A Pt. Jefferson R R „ 19*0 miles; Stewart RR. to Beth£ ^ e’ i i ' 5 k 8tewart RR* to Hempstead, 1*8; New York A Rockaway
Receipts—
1883-84.
1884-85.1885-86
Brooklyn A Jamaica RR., 9*6; Newtown A Flushing RR..
Net earnings.......
„
$
$
3*9; Brooklyn A Montauk, 67; N. Y. Brook. A Man. Beach RR. and
Other receipts and ta to ^ V :.;\ \ \ \ -_ i3 g | ;ilf
3’6 5 i ;046 branches, 20*1; Hunter’s Point A So. Side RR., 1*5; Far Rockaway
branch, 9*4; L. I. City A Flushing RR., 14; Whitestone Br., 4; Woodside
Rr., 3*9. Total leased and operated. 165 miles. The total of all the
Total net income....................... 4,910,278
4,400,263 4,101,986 roads owned and operated is 341*4 miles.




60




IN V E S T O R S ’

SU PPLEM EN T.

[NTol .

x l iy

.

M a y , 1887.]

R A IL R O A D

STOCKS

AND

BONDS,

Botuts—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When D oe.
Miles Date Size, or
Amount
per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, Ac., see notes of
Outstanding Rate
Cent. Payable
Whom.
Road. Bonds Value.
Dividend.
on first page of tables.
Louisville A Nashville -(Continued) Louisville loan, main s te m ....................................
Lebanon branch extension, Louisville loan. ...... 110
Lebanon-Knoxville extension rnort. ((>1,500,000) 172
Oecllian Branch, 1st mortgage, sinking fimd........
Consolidated 1st mortgage..................................... 392
Memphis A Ohio, 1st mort., sterling, guar............ 130
83
Memphis A Clarksville br.. 1st mort., sterling—
135
Mort. on Ev. Hen. & N., g o ld ...............................
1,079
Collateral trust, 3d mort., gold, sink. fu n d ...... . . .
10-40 Ad). M., gold, coup, or reg. (red’ble aft. 94) 783
141
1st mortgage on New Orleans A Mobile R R .........
2d mortgage
do
do
. . . . . . . . 141
Bonds sec’a by pledge of 2d mort. S.& N.Ala.RR.. 189
1st M., gold, on Southeast.* St.L.RR.,ooup.or reg. 208
2d mort.. gold, on Southeast. & St. Louis RR., op. 208
45
Pensacola Div., 1st mort., gold................. - ............
Mobile * Montg. Div., 1stM., ($2,677,000) . . . . . . . 180
* Pensacola * Selma Div., 1st M., gold ($1,248,000) 104
Pensa. A Atl., m. gold, guar., $1,000,000 pledged. 185
175
Louis. Cin. A Lex., 1st mort........... v 175
do
2d mort.,coup.. for $1,000,000
L. A N. mort. on L. C.&L., gold,$3,208,0JO plagd 175
1st mort., gold, on brunches, $15,000 per m ile...
Car trust liens ($ 1,721 payable eaoh month)........
Car liens, Louis v . Cin. A Lex ................................... .................
Henderson Bridge Co., 1st mort., gold...................
Louisville New Albany <£ Chicago—Stock................ 521
1st mortgage, coup, or reg...................................... 288
Mort., gold, on Chic. A Ind’polis Div., coup, or reg 158
446
a.
2d mortgage, gold. coup, or reg........... .
Consolidated mortgage gold (for $10,030,000).... 520

1863
1881
1868
1871
1872
1879
1882
1884
1880
1880
1880
1881
1881
1880
1881
1881
1881
1867
1877
1881
1887
1882
1881
1880
1881
1883
1886

$ ...
1,000
1.000
1,000
1,000
£200
£200
1,000
1,000
1,000
1.000
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 Ac.
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
1,000

The Long Island Railroad went into the hands of a receiver Ootober,
1877, but in 1881 the oompany resumed possession. The second mort
gave bonds were Issued to take up floating debt of various olasses.
The control of the company was sold to the “ Long Island Company,”
controlled by Mr. Austin Corbin and others, in Dec., 1880. In July,
1881, the stock was increased from $3,260,700 to $10,000,000. In
August, 1S81, most of the holders of Smitntown A Port Jefferson
bonds and N. Y. A Rockaway bonds agreed to exchange their bonds for
the consolidated mortgage, bearing 5 per cent.
No annual rt ports have been issued and the only information obtained
is from the statistics furnished the State Authorities. The road has been
much improved in its operating department under the present manage­
ment.
For the six months ending March 31, 1887, gross earnings were
$1,162,688, against $1,096,061 in 1885-6; net, $362,502, against
$319,336; surplus over fixed charges, $122,505, agalust $71,717.
The reports for four years made to the RR. Commissoners gave gross
earuings, Ac., as follows. Tue surplus iu 1883-86 over all payments
and dividends was $183,204.
1883-84.
1884-85.
1885-86.
1882-83.
354
342
354
354
Miles operated...................
Earnings and Expenses$
$
$
Passenger earnings...........,.1,695,177 1,759,597 1,807,346 1,978,447
720,630
727,623
798.817
Frt iglit earnings.............. . 718,743
276,005
291,069
317,508
Miscellaneous earnings... . 271,169
Gross earnings........... .2,685,089 2,758,232 2,826,478
Exi enses and taxes.......... 1,683,814 1,859,505 1,795,252
Net earnings................ .1,001,275
896,727 1,031,226
Lease rentals.................... . 282,466
287,693
297,559
304,063
190,876
207,922
Interest............................. . 209,059
312,335
There are also real estate mortgage. $238,000, 5s and 7s;
$350,000, at 6 per cent. (V. 42, p. 187, 487, 549; V. 43, p. 191, 7 4 5 ;
V. 44, p. 212, 586.)
Lon g Islan d C ity A F lu sh in g .—Road from Long Island City to
Great Neck, 14 miles; »ranches, 8 miles: total, 22 miles. This is a reor­
ganization of the Flushing A North Side road, foreclosed December 11,
1880. The stock is $500,000; par, $100. The income bonds are pay­
able at will. The company Is liable for $25,000 of New York A Flushing
bonds, due 1920. Leased to Long Island RR. for 50 years, the lessee
taking 60 per cent of gross earnings and $17,500 for fixed charges. In
1883-84 gross earnings were about $213,000, of which 40 per cent to
this company was $85,035; in 1884-5, rental $116,537; in 1885 6,
rental, $102,495. Alfred Sully, President, New York City.
Los Angeles A San D ie g o .—Florence to Santa Anna, Cal., 27
miles. Leased to Cent. Pac., and in 1884 the net earnings paid as renta
and other income was $33,374; interest, A c, $35,121. Capital stook
$570,800. Chas. Crocker, Pres., San Francisco.
Louisiana W e ste rn .—Owns from Lafayette, La., to Orange,
Texas, 113 miles, leases extension In Texas, 7 miles; total, 112 miles.
Leased and operated by the South. Pac. Company, being part of the
through line between New Orleans and Houston. For three months from
J?“ Maroh 31, £™ss earnings were $181,364 in 1887, against
$142,039 in 1886; net, $76,388, against $68,092. In 1886 gross earn­
ings were $644,689; net, $329,217. Surplus over interest and all
Gross earnings for year 1885 were $627,317; net,
$343,445. Stocx is $3,360,000. (V. 42, p. 243, 6 2 9 ; V. 43, p. 133,
163; V. 44, p. 344, 369, 620.)
A St. L o u is.—Line of road. New Albany
Lad., to Mt. Vernon, Ills., 182 miles; branches to Jasper A Gentryville, 73’
255 nnies; opened Oct., 1882. The road was formerly the
Louisville New Albany A St. Louis, foreclosed in 1878. In Oct.. 1881,
aconsolidation was made with the Evansv. Rock port A Eastern, and the
$900,000 of E. R. A E. 1st mortgage bonds stand as a prior lien on that
aivisiqn. The foreclosure sale was made June 9,1886. The plan of re+ii?ianiza'^011 was V. 41, p. 720, by which 1st mortgage bondholders
took new second mortgage bonds and a first mortgage of $2,000,000
was issued as a prior lien. Toe stock is $1,500,000 p.-ei. 5 per cent, noni ifiQ'Jll^tive’
$3,500,000 common; the par of all shares is $100. In
1883-4 gross earnings were *668,898; net, $95,305. In 1894-85 gross
274“ ® , 431^452.) ^
$142’224- (V- 42« P- 519, 728 ; V. 4 3 ?* 1 2 5 ,
* N a a tiv ille .—f£ee Map.)—Line of Road.--Main
1t Nas^ vlil®> 185 miles; branches—Junction to Bardsinn \r„
. A Junction to Livingston, Ky., 110; Livingston to Jelbroneb ro P « , ^ ni&omtery, to M°bile- 179; New Orleans to Mobile. 141;
Louis Til ro
rtn?mV5 i p? ? 8’ Tenn- to Memphis, 259; East St.
BeSevfibTrn
June., IU.,to8hawneetown,IU., 41,
F?a 441®
IU” § : Pensacola, Fla., to Pensacola Junction;
l no l
Muscogee dock, 1; Louisville, Ky., to Newport. Ky.
Lexington. 67: Louisville H. Cr. A W’p o r t T n .g jf li
to I^videnfSi l f i ^ P ^ 0'-’ ^9; Henderson to Nashville, 135; Junction
kasId and ^;m\^’r,irpi ^ cola..e:£te? 8io11’ 2 6 : total owned, 1.612 miles;
D“ a t u r i l 9 n ^ i r o r ^ U^ Ctlon to Glasgow, Ky., 1 0 ;’ Nashville to
Junction to 8h?n?PPtiii Montgomery, 183; Junction to Wetumpka, 6;
junction to ShelbyvUle, 19; Louisville Transfer, 4 ; No. Div. Comb. A




$201,000
333.000
Pledged.
46 850,000
1877
7,070,000
3,500,000
2,015,S60
2,380,000
9.790,000
5,000.000
5,000,000
1,000,000
1,960,000
3,500,000
3,000,000
600.000
Pledged.
Pledged.
2,000,000
2,850,000
892.000
50,000
1,300,000
971,000
39,591
2,000,000
5,000,000
3,000,000
2,300,000
855,000
3,500,000

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

A. A O. New York Agency.
A. A O. N. Y., Drexel, M. A Co.
M. A 8. New York, Agency.
M. A S. N. Y., Drexel, M. A Co.
A. A O.
do
do
J. A D. London, Baring Bros.
F. A A.
do
do
J. A D. N. Y., Drexel, M. A Co.
Q.—Mar N. Y „ Drexel, M. A Co.
M. A N. New York, Agenoy.
J. A J. 50 Exchange Place.
J. A J.
do
no
A. A O. N. Y.t Drexel, M. A Co.
M. A 8.
do
do
do
do
M. A 8.
do
do
M. A 8.
M. A N. 50 Exchange Plaoe.
do
do
M. A 8.
F. A A. N. Y., Hanover Nat.Bk.
J. A J. N. Y., 50 Exohange pi.
A. A 0.
do
do
M. A N.
do
do
M. A N.
do
do
A. A O.
Philadelphia.

6 g. M. A 8.
6
J. A
6 g. F. A
6 g. F. A
6 g. A. A

New York.

J. N.Y., Nat. Bk.Comraerc e
A.
do
do
A.
do
do
0.
do
do

1887
Got. 15, 1895V
March 1, 1931
Mar. 1, 1 90?
April, 1898
June 1, 1901
Aug., 1902
Dec. 1, 1919
Mar. 1, 192?
Nov. 1, 1924Jan. 1, 1930Jan. 1, 1930
April 1. 1910March 1, 1921
March 1, 1980"
Mar. 1, 1920“
May 1, 193L
Mar. 1, 193L
Aug., 1921
Jan., 189T
1907
Nov. 1, 1931
May 1, 1937
Oct. 1,1886-89
1886-88
Sept. 1, 1931k
July
Aug.
Feb.
Jan.

1, 1 9 1 0
1, 1911
1, 1889
1,1916

Ohio, 27; Lebanon to Greensburg, 31; Elkton to Guthrie, 11; total
leased and controlled, 410 miles; total operated June 30,1886, 2.023
miles. Also owns the Richmond Branch (leased to Kentucky Central),.
34 miles, and the Ceoilian Branch (leased to Ches. O. A So. W.), 46 miles,,
and controls, by ownership of a majority of the stock, the NashvilleChattanooga A St. Louis RR., 580 miles; the Owensboro A Nashville, 84miles; the Pensacola A Atlantic, 161 miles; the Nashville A Florence
RR., 56 miles ; Birmingham Mineral Railroad, 11 miles, and Henderson.
Bridge and connecting track, 10 miles—total, 902 miles; also, as joint
lessees with the Central of Georgia, is interested in the Georgia Railroad
and its auxiliaries, 679 miles.
Organization, L eases, Ac.—The Louisville A Nashville was chartered
March 2,1850, and opened between Louisville and Nashville November,.
1859. The Memphis branch, completed in 1860, was operated in con­
nection with the Memphis A Ohio and Memphis Clarksville A Louisvilleroads, which were purchased by the L. A N. The other roads embraced
in the system have been purchased outright or are controlled absolutely
bv ownership of a majority of the stook, except those under leases, as
above described. The liabilities for interest are treated mostly as
belonging directly to the Louisville A Nashville Company. The South­
east. A St. Louis RR., which was reorganized after foreclosure of the
St. Louis A Southeastern, Nov. 16,1880, is leased to the Louisville &
Nashville for 49 years, and the L. A N. issues its bonds as above»,
secured on the road, about 210 miles long in Indiana and Illinois..
There is also $999,500 of S. E. A St. L. stook. The fiscal year of I*».
A N. ends June 30. Annual election is held early in Ootober.
Stock and B onds.—At the close of the fiscal year (June 30) 1880 the
capital stock was $9,059,361, and in Nov., 1880, the stock dividend of*
100 per cent was made, raising the amount to $18,133,513. In October,.
1882, the oompany listed at the Stook Exchange $3,080,000 stock sold’
by the city of Louisville, raising the stockoutstanding to $21,213,513,
and $3,786,487 more was then listed, raising the amount to $25,000,000. In Oct., 1884, the remaining $5,000,000 unissued was offered toa syndicate at 223) with the $5,000,000 bonds at 55, raising the stook to
the full limit of $30,000,000. (See V. 39, p. 409.)
All the dividends paid since 1870 were as follows: In 1871, 7 per
cent; in 1872,7 per cent; in 1873, 7 per cent; in 1877, 13) per cen t:
in 1878, 3 per cent; in 1879, 4 ; in 1880, 8, and 100 per cent in stook 4
in 1881, 6 ; in 1882, 3; nothing since.
Prioes of the stock from 1872 to date have been: In 1873V
50®79; in 1874, 53®59; in 1875, 363a®40; in 1876, none; in 1877*.
26®41; in 1878, 35®39; in 1879, 35®893); in 1880, 77®174; in 1881,
79® 1103s; in 1882,46*2® 100$i; inl883,40«B®583i; in 1884. 223a®518gt
in 1885, 22®51%; in 1886, 33*s®69; in 1887 to May 20, 57®70>4.
The general mortgage of 1880 is for $20,000,00O, of which the bal­
ance unissued is reserved to pay off prior liens, and the mortgage cover®
840 miles of road subject to such liens. The Louisv. A Nasliv. LebanonKnoxville bonds of 1881 cover 110 miles, subject to prior liens, and 62
miles from Livingston to State line as a first lien. The Pen. A Atlantic
is a separate company and the bonds are not a direct liability of the
L. A N. Co., but principal and interest are guaranteed by L. A N. A
sinking fund begins F@b., 1889. The P. A A. has Issued to the L. A N.
$1,000,000 land grant bonds pledged for advances to the P. A A.
The third mortgage trust deed of 1382 is made to E. H. Green and’
John A. Stewart as trustees, and has a sinking fund of 1 per oenfc
annually begun in February, 1885, the bonds drawn being redeemable
at 110. The bonds are secured by pledge of a large amount of stook»
and bonds belonging to the Louisville A Nashville Company and
held as collateral seourity by the trustee of the mortgage. The
securities pledged were stated in detail in V. 41, p. 445, the par value o f
bonds being $9,633,000 and stocks $18,529,700; total, $28,162,700.
The 10-40 Adjustment mortgage bonds were issued in 1834, and
cover 783 miles of main line and branches, subject to the prior liens,
and are a second lien on the trust securities pledged under the trust
deed of 1882. See V. 39, p. 409.
The Henderson Bridge Co. bonds are not a liability of the L. A N. T h »
bridge is owned by a separate company, with a stock of $ 1,000,000, of
which the L. A N. Co. holds $501,000; the Bridge Co. is guaranteed
gross receipts of $200,000 per year by the several roads using it.
The mortgage bonds of 1887 on branches are issue ! at $15,000 per
mile. U. S. Trust Co. is trustee of the mortgage, and the lien covers the
Cumberland Valley Branch and a number of others.
Operations , F inances, Ac.—The Louisville A Nashville system hav­
ing been developed in its present extensive form since 1879 has a short
history. The 100 per cent stock dividend declared in 1880 was mad»
before the working and result of the newly-acquired roads could b »
fully developed.
For nine months from July 1 gross earnings were $11,339,964 in.
1886-7, against $10,045,8)4 in 1885-6; net, $1,638,452, against $3,841,The annual report for 1885-86 was in the Chronicle, V. 43, p. 486.
The comparative statistics were as follows for the roads operated'a s theLouisville A Nashville system proper
1882-83.
1833-81.
1394-95.
1835 - 86.
Total gros3earns... $13,234,915 $14,351,093 $13,936,347 $13,17 7,01
Oper’g ex. (excl.tax.) 8.099,595 8.823,782 8.182 255 8,21 3.29
Net earn ings........... 5,135,3x0 5,527,311
5,7o4,092 4,963,723.
Per ct. of ex. to earn.
61-20
61-48
58-71
62-33,
* Includes rent, rent of cars and engines, Ac.

INVESTORS’

[you

SUPPLEMENT.

x l iv

.

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In tbese Tables,
INTEREST OR DIVIDENDS.
1
DESCRIPTION.
--------------- Miles Date Size, or
Amount Rate per When Where Payable, and by Slocks—Last
For explanation of column headings, Ac., see notes Cf
Par Outstanding
of
Whom.
Dividend.
Cent. Payable
on first page of tables.
Road. Bonds Value.
Louisville New Orleans <£ Texas—Stock.. . ................. 455
$100
1st mortgage, coup, or reg......................... ............. 455 1884
1,000
1st mortgage, g o l d ...................................................
1886
2d mort, income for ($7,899,000) cumulative —
1886
Income bonds (not cumulative)..............................
1,000
455 1884
Lykens Valley—Stock..................................................
20
21
50
Mahoning Coal—Common stock................................
43
Preferred stock, guar, by L. 8. & M. S...................
50
43
1st mort., coup., pr. & in t , guar., by L. 8. & M. So
1,000
43 1834
100
Maine Central—Stock................................................. 482
1st mortgage, consolidated..................................... 304 1872 100 *0.
Collateral trust bonds for Mt. Desert Branch.......
41 1883
Sinking fund 10-20 gold bonds...............................
1,000
1385
Bonds ($1,100,000 loan) A. &. K. R R ...................
"55 1860-1 100 Ac.
Extension bonds, 1870, gold...................................
18 1870 500 Ac.
Maine Central loan for $1,100,000........................
109 1868 100 Ac.
European & North American (Bangor loan)..........
56 1869 500 Ac.
Leeds A Farmington Railroad loan........................
36 1871 100 Ac.
Androscoggin Railroad, Bath City loan................
30 1866 100 Ac.
Portland A Kennebec, consolidated mortgage__
71 1865 100 Ac.
Manchester <£ Lawrence—Stock..................................
100
26
Mannattan (Elev.)—Consol, stock..............................
100
32
1,000
Metropolitan Elevated, 1st mortgage....................
18 1878
do
2d M. (guar, by Manhat’n).
1.000
18 1879
1,000
N. Y. Elevated, 1st M. (payable at 105 after 1896)
14 1876
1.000
do
Debentures, coup..........................
14 1886
Marietta Columbus & N.—1st M..gold,(Mar.Mineral)
42 1885 100 Ac.
1.000
Marietta <6 North Georgia—1st M., gold, $7,000 p.m. 120 1881
1,000
2d mort. ($6,000 per mile)......................................
120 1881
100
Marquette H. <£ O —Common stock ...........................
160
100
Preferred stock.......................................................... 160
1st mort., M.A O., coup. ..........................................
50 1872 100 Ac
1,000
M. H. A O. mortgage
90 1878
INCOME ACCOUNT.

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

1882-83.
$
5,135,320
134,771

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

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

5,270,091

5,800,144

5,952,683

1885-86.
$
4.963,723
207,807

$4,550,000
Ì3,650,000
(?)
(?)
9,100,000
600,000
1.373,000
372,610
1,500,000
3,603,300
4,176,400
694,000
599,000
1,100.000
496,500
756,800
1,000,000
633,000
425,000
1,166,700
1,000,000
24,395,700
10,818,000
4.000,000
8,500,000
1,000,000
650,000
840,000
600,000
3,399,100
2,259,026
1,427,500
576,200

New York, Office.
M. A 8.
5
4 g. M. A S.
New York, Office.
5
do
do
August.
6
New York. Treasurer.
Q .-J .
212
2ifl
5
3
5A7
5
6 g.
6
6 g.
7
6
6
6
6
5
l 1«
6
6
7
5
6 g.
6 g.
6 g.
4
2ia
8
6

Sept. 1, 1934
Sept. 1, 1934
Sept. 1, 1934
Jan. 2, 1887

J a n .1, 1887
N. Y. Union Tr. Co.
J. Ä J.
July 1,1934
do
do
J. <fe J.
Feb. 15,1887
F. A A.
A. A O. Boston, 2d Nat. Bank. April 1,1912
J. A D. Bost., Am.LoanA Tr.Co. June 1,1923
F. A A Boston, 2d Nat. Bank. Feb. 1,1905
1890 to 1891
do
do
M’nthly
Oct., 1900
do
do
A. A O.
July, 1898
do
do
J. A J.
Jan.
1,1894
Bost.,
Merch’ts’
Nat.Bk.
J. A J.
J. A J. Boston, 2d Nat. Bank July, 1891
July,
1891
dp
do
Q .-J .
April 1, 1895
-do
do
A. A Ü.
May
2,
1887
Manchester
and
Boston.
M. A N.
Q .-J . X Y . , Mercantile Tr.Co April 1, 1887
July,
1908
do
do
J. A J.
Nov. 1, 1899
do
do
M. A N.
Jan.
1,
1906
do
do
J. A J.
Mar. 1, 1916
do
do
M. A 8.
May
1,1915
New
York,
Agency.
M. A N.
J. A J. Boston and New York. July 1,1911
July 1, 1911
do
J. A J.
In 1883
....
Aug.
16,1886
F. A A.
J. A D. Boston, N. Eng. Tr. Co. June 1, 1892
Mar.
1, 1908
do
do
M. A S

1884.
$369,300
1Interest..................................
Rentals, insurance and taxes.
213,823
Interest on car trust bonds..
50,000

1885.
$369,300
217,951
50,000

1886.
$461,538
223,869
50,000

$637,251
$735,407
Total charges.................. $633,123
$288,832
$94,747
$533,831
5,171,530 Deficit............
79-27
66-62
Percentage of operating ex.
87’26
339,409
370,814
379,845
309,450
Wm. Dowd, Pres’t, N.Y. (V. 42, p. 125, 243, 365, 397, 604. V. 43, p.
67,000
15,000
67,000
58,333
334, 458, 607, 774; Y. 44, p. 59, 90, 34 2 , 401, 553, 5 8 4, 621.)
4,053,224 4,207,223 4,026,543 4,085,706
Lou isville N ew Orleans & Texas—(See map)—Line of road
Tenn., to New Orleans, La.. 455 miles; Lelandto Huntington,
110,053
117,095 Memphis,
113,090
116,242
Miss.,
22 miles; Washington Co. branoh, 34 miles—total owned. 511
44,815
11,000
49,299
miles.
Leased-Clinton
to Port Hudson, La., 22 miles; total operated,
6,182
10,297 533 miles. This road was
8,377
7,542
built in the interest of the Huntington system
roads,
and
forms
the
link in that system across the
Total disbursements. *4,575,868 (4,716,145 14,637,806 ¡¡4,643,727 Continent from Norfolk toconnecting
San Francisco. The present company was
Balance, surplus. . . .
722,699
692,495 rganlzed Sept. 5,1884. The road was opened for through business Oot.
1,116,337
1,356,890
13,1884. The inoome bonds are a first mortgage on 750,000 acres of
¡528,400 to be refunded, included in surplus,
land in the Yazoo Delta. The first mortgage bonds are Issued at $30,000
t $32,338 to be refunded. Included in surplus,
per mile on the main line and $20,000 per mile on the branoh lines.
t $42,012 to be refunded, included in surplus.
¡Mr. R. T. Wilson, Pres., N. Y. Gross earnings from Jan. 1 to March 31,
[| $164,692 to be refunded, included in surplus.
1887. were $565,145, against $426,998 in 1885-6; net, $183,334, against
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAH.
$94,904. Gross earnings for year 18- 6, $1,803,785; net, $551,222.
1882-83.
1883-84.
1884-85.
1885-86, Gross in 1885, $1,390,717; net, $360,711. (V. 42, p. 60, 339; V. 43, p.
Assets—
$
$
$
73,162, 334 368, 516. 547, 671; Y. 44, p. 60,185, 308, 434.)
Road,equipment, &o. 67,385,426 67,776,064 67,930,874 68,433.991
Lykens V a lley.—Owns from Millersburg, Pa., to Williamstown,
689,941
598,746 Pa., 20 miles; branch, 1 mile; total operated, 21 miles. It is a
688,024
lumber & quar. lands
715,773
Stocks owned.......... 18,565,852 t6,904,853
1,298,347 coal road leased and operated by the Northern Central Railroad since
2.005,590
4,435,098 July, 1880, and previously by the Summit Branch RR. The lease is for
1,940,623
4,050,673 4,249,861
Bonds owned.
9,527,878 999 years from March 1,1866, and the rental is $62,500 per annum.
9,527,878
9,527,878
BtksAbds. held in tr’t 9,527,878
1,935,654
2,011,330
1,922,903
Bills A acc’ts. receiv.
1,771,487
M a h on in g Coal R a ilro a d .—Andover to Youngstown, O., 38
926,262 miles, and branches for ore and coal, 5 miles; total, 43 m. On July 1,
833,112
726,624
762,273
Materials, fuel, A c..
303,976 1884, the road was leased in perpetuity to the Lake Shore & M. 8. The
242,929
404,714
297,316
Cash on hand............
1,454,904 1,565,968
1,733,805
2,071,723 L. S. & M. So. guarantees the principal and interest of the 1st mortgage
So. A No. Ala. R R ...
618,148 bonds, and guarantees 5 per cent per annum on the pref. stock.
573,044
603,250
599,478
Nash. A Dec. R R ....
635,978
921,690 1.172.928
1,567,793
Other roads..............
M aine C entral.—Mileage as follows: Main line, Portland to Ban1.005.929
850,809
850,808
C. C. Baldwin aco’tj.
or, Mo., via Augusta, 136-6 miles; branches, Cumberland Junction to
50,000
Sinking fund.............
50,000
50,000
Jkowhegan, 90-7 miles; Bath to Farmington, 71-2 miles; Crowley’s
2,479,344 2,068,636 Junction to Lewiston, 4-7 miles; total owned, 303-2 miles. Leased—
Profit and loss..........
Burnham Junction to Belfast, 3 31 miles; Newport Junction to Dexter,
Total assets........ 94,222,561 96,324,187 94,591,970 93,705,275 14 miles; Brewer Junction to Bucksport, 181 miles; Bangor to VanceLiabilities—
$
boro, 114-1 miles; Penobscot Switch to Mt. Desert Ferry, 41-7 miles ;
Stock......................... 30,000.000 30,000,000 30,000,000 30,000*000 total leased, 221 miles. Total operated, 527-2 miles.
Bonded debt*........... 57,903,230 57,530,712 61,958,314 61,355,254
This was a consolidation in 1862 of the Androscoggin A Kennebec
201,000 Railroad and the Penobscot & Kennebeo. In August, 1873, the Port­
850,000
850,000
850,000
Louisville bond s....
567,400
529,800
Debentures...............
land & Kennebec, Somerset & Kennebec and L eed s* Farmington rail­
41,229 roads were also consolidated with the Maine Central.
3,599,266
189.279
526,558
Bills payable............
499,435
501,528
445,359
475,759
There are also $58,000 5 per cent debenture bonds due 1894 and
Interest....................
34,327 $20,000 8hore Line 6 per cents due 1923. The annual report was pub­
36,094
34,933
34,774
Miscellaneous..........
1,571,937 lished in V. 43, p. 773, for the fiscal year ending Sept. 30.
1,236,152
1,130,936
1,060,168
June pay-rolls, &o..
2,067,565
Profit and loss..........
2,762,984
FISCAL RE8ULTS.
1882-83.
1883-84.
1884-85.
1885-86.
Total liabilities.. 94,222,561 96,324,187 94,591,970 93,705,275
Total gross earnings $2,835,494 $2,816,373 $2,839,779 $3,001,076
* The bonds deposited in the $10,000,000 trust have been deducted here Expenses and taxes. 1,839,707 1,750,710
1,730,902 1,820,740
t Includes $5,000,000 L. A N. stock unissued.
t An open account, the company claimingthat Mr. Baldwin is indebted
$995,787 $1,065,663 $1,108,877 $1,180,336
to it in this sura,
INCOME ACCOUNT
—(V. 42, p. 60, 155,187, 215, 304, 430, 631, 663, 694; V. 43, p. 23, 73
1885-86.
1884-85.
1883-84.
1882-83.
Receipts—
» 1 6 , 256, 274,431,486,547,671; V. 44, p. 59,185, 308,434,458, 586
$995,787 $1,065,663 $1,108,877 $1,180,336
earnings..
L o u isv ille N ew A l b a n y * C hicago—(See map) —Operates from Net
7,400
7,828
10,421
29,121
Other
reoeints.
New Albany, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289
miles; Howland Junction to Hammond, Ind., 160 miles; Bedford, Ind.,
$1,024,908 $1,076,084 $1,116,705 $1,187,736
Total
inoom
e....
to Switz City, 43 miles; Orleans, Iud.. to French Lick Spr., 17*2
Disbursements—
miles; total owned, 509 miles; leased—Hammond to Chicago, 20 miles
$189,000
$189,000
$189,000
$182,958
Howland’s Junction to Indianapolis, 4 miles ; New Albany to Louisville, Interest on bonds..
707,130
701,767
661,395
644.146
5 miles; total leased, 29 miles; total operated, 617 miles. A lease for Dividends...............
215,578
215,541
215,532
197,522
999 years with Chicago & Western Indiana at $127,000 per year gives
entrance to Chicago.
Total disburse’s $1,024,626 $1,065,927 $1,106,308 $1,111,708
The Louisville New Albany & Chicago was opened in 1852 and sold
$282
$10,157
$10,397
$76,028
in foreclosure Deo. 27, 1872, and reorganized without any bonded debt. Balance...................
In Aug., 1881, consolidated with Chicago & Ind. Air Line, and stock —(V. 42, p. 365,519, 694, 783; V. 43, p. 102, 217, 334, 458, 618, 773.)
M
anchester
&
Law
ren
ce.—Owns
from
Manchester,
N.
H., to
Increased to $5,000,000, giving 15 per cent increase to stockholders of
Methuen (State Line), 22*4 miles; leased, Methuen Branch of tne
record Ang. 31.
The consolidated bonds of 1886 were made for the authorized amount Boston & Maine Railroad, 3% miles; total operated, 26 miles. Road m
of $10,000,000, of which $5,300,000 was reserved for the prior first operation since 1849. Formerly operated with the Concord Bo­
mortgages, $3,000,000 used to exchange for 2d mortgage bonds of as one line, on a division of joint earnings. Methuen branch «
1883 and general mortgage bonds of 1884 outstanding, and the balance leased at a rental of $11,000 per annum. Company lays claim to a two$1,700,000 used for building new road, for improvements, &o. In June fifths interest in the Manchester & North Weare RR., which is operatea
bv Concord RR. Ten per cent dividends are paid. The fiscal year enas
1887, all the car trust certificates were to be paid off.
For one month ending Jan. 31 gross earnings were $139,416 in 1887, March 31. Gross earnings in 1885-86, $177,802; net, $100,669. m
against $113,820 in 1886 ; net, $15,555, against $8,627 in 1886.
1884-5. gross, $174,578 ; net, $100,809
_
M an h attan Elevated.—Road operated, 32-39 miles. This was a
Fisoal year ends Dec. 31. The annual report tor 1886 was in V. 44
corporation formed (Nov. 24,1875) to lease and operate the two elevatea
p. 584. Earnings, expenses and charges have been as follows :
railroads in New York City. Its capital stock was $13,000,000, aha
1884.
1885.
1886
was to pay the interest on the bonds of the two elevated roaas
$l,cau,±d4
$1,919,189 it
Gross e a rn in g s ................$1,561,436
Operating e x p en ses......... 1,865,144
1,332,(^35
1,278,528 and certain dividends. The original lease of May 20,1879, guaranieeu
________ 10 per cent per annum on the stocks, but this lease was amended m
$640,6611October, 1881, by agreements among the three companies, which were
$348,418
Net earnings................... $199,292

Total income............
Disbursements—
Taxes........................
Rentals.....................
Interest on debt.......
Dlvld’son L. A N., N.
AD. and M. A M ...
Georgia RR. deficit..
Miscellaneous..........




M a t , 1887.]




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[V o l .

m o b il e )

^¿Tensacoia Jc.

Ma t , 1887.]

RAILROAD

STOCKS

AND

BONDS,

6 &

Subscribers w ill confer a great favor bjr givin g im m ediate notice ot any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or Amount
pal, When due.
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, Ac., see notes of
Road. Bonds Value.
Cent. Payable
whom.
Dividend.
on first page of tables.
1883
Marquette H. dt O.-(ConVd)—Bonds for ext., A o...
1885
M. H. A 0 . 1st mortg. on Mar. A West...................
328
Memphis <* Charleston—Stoch. . . . . . . . . . . . . . . .
181 1854
1st A 2d. mort. extension bonds, Ala. A Miss. Div
1867
2d mortgage, extended.......... ............. -•-••......--•
292
1877
Consol, mort., gold (1st lien on 93 m. in Tenn.)..
292 1877
Consol, mortgage, gold........................ *..............
292 1884
General mortg., gold.............................. ...........
133 1877
Memphis <e Little Rk.—1st preference mortgage.
133 1877
General mort., land grant, (s. f. $ 1 0 ,0 0 0 ).......
1,340 1881
Mexican Central (Mexico.)—1st mort., reg., gold
. ...
Income bonds, oonv., not cumulative, reg............. ....
1884
Coupon notes for interest funded... . . . . . . . . . . . . . .
1885
•
•••
Debentures (secured by collateral) (V. 39. p. 733)
Mexican National—1st M., new, gold ($9,000 p. m). . . . . 18*47
’ 8l-’82
1st M., old, gold.......................................................
__ 1884
2d mort. debentures (income)........................ . . . . .
161
1880
Texas-Moxionn. Corpus Ch 8.D.A R.G., 1st M., gd.
do
1st mortgage, gold ($15,000 p. m.) 165 1881
....
Michigan Central—Stock............................................ 1,468
Consolidated mortgage ($2,000,000 are 5s).......... 270 1872
103 1870
M. C. Michigan Air lime mortgage. ....... ..........
10 1870
Michigan Air Line 1st mort., assumed by M. C---84 ’79-86
M. C.bonds, mort. on Grand River Valley RR. ..
39 ’69-70
Kal. A So. Hav., 1st and 2d morts., guar.............
84
....
Grand River Valley, stock, guar............................
Detroit A Bay City 1st en’d. and bridge................ 145 1872-3
145 1881
M. C. mort. on Detroit A Bay City Railroad---- ...
Jackson, Lansing A Saginaw, consol, mort.......... 236 1871
Jackson Lansing A Saginaw consol, mort............ 298 1880
Michigan <t Ohio—1st mortgage, gold....................... 154 1883
13 1866
Middletown Unionville <t Water Gap—1st mortg. ext.
1871
do
do
2d mort. guar................ . . . .

$1,000
1,000
25

$1,213,000
1,400,000
5,312,725
2,155,000
105,000
1,000
1,400,000
1,000
864,000
1,000
l,00i>,000
1,000 Ao
250,000
250 Ao
2.600,000
1,000 37,272,000
1.000
8,128,<'00
100, Ao.
3,825,570
1,000 10,000,000
1,000 10.000,000
1,000 24,330,0)0
l.OOOAo 13.437,000
1,000
960,000
1,000
1,380,000
100 18,738,204
1,000 10,000,000
1,000
1,900,000
1.000
200.000
1,000
1,500,000
1,000
710.000
100
491,200
....
424,000
1,000
3,576,000
1.000
1 943,000
1,000
1,100,000
1,000
2,630,000
••••
150,000
....
250,000

6
6
7
7
7 g.
7 g.
6 c.
8
8
4 g.
3
10
6 g.
6 g.
6 g.
5
7 g.
6 g2
7A 5
8
8
6
8
2ifl
8
5
8
6
6 g.
5 g.
5

J. A D. Boston, N. Eng. Tr. Co. June 1, 1923
A. A O.
do
do
April 1, 1925
J. A J.
New York, Agency.
J. A J.
do
ao
J. A J.
do
do
J. A J.
do
do
J. A J.
do
do
M. A N.
J. A J.
J. A J.
Boston, Offioe.
July 1
do
J. A J.
do
J. A D.
New York.
J. A D.
New York.
Various Last paid, Got., 1883.
Aprii.
J. A J.
J. A J
F. A A. Grand Central Depot.
M. A N. N. Y., Union Trust Co.
J. A J.
do
do
M. A N.
do
do
M. A 8.
do
do
M. A N.
do
do
J. A J.
do
do
M. A N.
do
do
M. A 8.
do
do
M. A 8.
do
do
M. A 8.
do
do
M. A N.
None ever paid.
M. A N. N. Y., N. Y. Susq. A W.
J. A D .
do
do

J a n .1, 1915
1915
Jan. 1, 1915
Jan. 1, 1915
Jan. 1, 1924
May, 1883-84
July, 1907
July 1, 1911
July 1, 1911
July 1, 1889
Deo. 1,1927
D^o. 1, 1927
1911 A 1912
Jan. 1,1974
July 1, 1901
July 1, 1921
Feb. 15, 1887
May 1,1902
Jan. 1,1890
Nov., 1890.’90
Sept., 1909
Nov. 1, *89-90
Jau., 1887
May 1,1902-3
Mar. 1, 1931
Sept. 1, 1891
Sept. 1, 1891
Nov. 1, 1923
1911
1896

supplemented by an agreement of Nov. 14,1881, for the surrender of tain. Afterward default was made on the coupons and bondholders
the stocks of the other oompanies, and the issue of new stocks by the were offered a 6 per oent bond in place of the 8 per oents, which was
Manhattan Company, but this was never acoepted bv the Metropolitan declined. In April, 1884, a receiver was appointed, but in August, ’ 84,
stockholders, and, after litigation, it was decided against the Manhattan receiver discharged and the property placed in hands of trustees of the
In June, 1884, a new compromise agreement was made and afterward general mortgage. Litigation ensued between the trustees and the
ratified by the stockholders of the three oompanies by which all liabili­ company (St. L. A Iron M. Interest), and iu Jan., 1837, the U. S. Supreme
ties were assumed, and new stock was issued by the Manhattan Com­ Court decided in favor of the trustees and held they had a right to be
pany to the holders of stocks in the other oompanies, v iz : For Manhat­ subrogated to the lieu of the State. In April, 1887, the road was again
tan. 85 per cent in new stock; for New York, 120 per cent; for Metro sold aud bid In by the Dow party. In 1884 gross earns were $721,890:
poll tan, 110 per oent.
net, $146,670. (V. 44, p. 149, 185, 495.)
There are large claims pending against the elevated roads for damage
M exican Central (M ex ico ).—In Nov., 1886, the mileage was—
to property on their lines, and many of these are before the courts.' The Main
liue from Mexico City north, to El Paso del Norto 1,225 miles,
Court of Appeals’ decision was against the Company in the Lahr and 103 miles
on Tampico Division, 11 miles of Guanajuato Branch, and 16
Wagner sub s re erred to in V. 44, p. 173.
miles on the Pacino Division, had also been built, and a short branch 7
In 1886 the debentures of the New York Elevated were Issued for miles
to
stone
quarry, making a total of 1,361 miles.
advances made by the Manhattan Co. for new equipment, new construc­
The company was incorporated Feb. 25,1880, under the general law
tion. tax arrearages, Ao.
of
Massachusetts,
and by transfer the company holds the oharter from
The stockholders of the Manhattan Elevated RR. had the privilege
July, 1886, of taking $600,000 stock and $600,000 bonds of the Subur­ the Mexican Government, granted Deo. 5,1874, for a road from Mexico
City
to
Leon,
and
by modification including lines to Paso del Norte.
ban Railroad Co. on certain terms. See V. 43. p. 49.
For the six months ending Mar, 31 gross earnings were $3,970,343 in Guadalajara and Laredo. The company also has other rights granted
by
the
State
of
Chihuahua.
The oompany has a subsidy front
18*6-7, against $3,578,295 in 1885-6; net, $1,674,038, against $1,720,719; surplus over interest, rentals and taxes.$693,849, against $826,388. the Mexican Government of $15,200 per mile on most of the lines,
payable
in
“
certificates
ot
construction
to be redeemed with 8 per cent
The reports for year ending Sept. 30 have shown the following income
of all duties produced at the maritime and frontier custom-houses of
1883-4.
1884-5.
1885-6.
the Republio.” In June, 1885, the Mexioan Government stopped pay­
.$6,726,359
$7,000,567
$7,426,216 ing all subsidies, but resumed July, 1886, on a basis of % of 1 per cent,
Operating expenses.
. 3.881.949
3,967,983
4,234,601 increased to 1 p. ct. Jan. 1,1887, and after that 1 per oent every six
.$2,841,410
$3,032,584
$3,191,615 months, till July, 1890 the full 8 per cent is reaohe<l. The incomes are
.. 1,381,713
1,459,043
1,531,984 convertible into stock at par. The stock is $33,170,900.
The above 10 per cent coupon notes are secured by deposit of ooupons,
.$1,459,697
$1,573,511
$1,659,631 and
an amount ot Mex. Gov’t subsidy oertifloates equal to the prin­
. 1,170,000
1,560,000
1,560,000 cipalby
and int. of the coupon notes. The total amount ot 1st mort. bonds
Surplus....................................$¿89,697
$13,541
$99,631 issued stood Dec. 31. 1886, at $12,850,000, of which $5.578,000
The following Is a statement of the number of passengers carried on wei e in hands of company or trustees, including $2,500,000 deposited as
the elevated railroads in New York, and the gross earnings, since the collateral for the debenture bonds.
completion of the roads:
In Deo., 1885, it was proposed to reduce the interest on 1st mortgago
Passengers. Earnings.
Passengers. Earnings. bonds to 4 per cent, with an agreement to pay the remaining 3
1878-79.. 46,045,181 $3,526,825 188283.. 92,124,943
$6,386,506 per cent in any year when earned, but not to be cumulative, and
1879 80.. 60,831,757
4,612,976 188334.. 96,702,620
6,726,359 uo to Jan. 1, 1887, all the bondholders except of $1,338,000 had
188081.. 75,585,778
5,311,076 1884- 85 103,354,729
7,000,566 assented to this arrangement and exohanged their 7 per oent coupons for
188182.. 86,361.029
5,973,633 1885 86 115,109,591
7,426,216 a sheet of 4 per oents. In July, ’86, ana Jan., ’87, all coupons falling
in assented 1st mortg. bds. in treasury
—(V. 42. p. 243, 272, 604, 783; V.43, p. 49, 459; V. 44, p. 173, 244, 621, due were paid in cash and
654.)
of Co. From April 1, 1887, cash payments were resumed on the bonds
C o lu m b u s & N o r t h e r n .—Road from Marietta, O., to as coupons fell due.
Gross earnings Jan. 1 to March 31, 1887, were $1,208,557, against!
Joy, 38 in.; Branch to Stuart, 4 m., to be built. Formerly the Marietta
Mineral road, and name changed (no foreclosure). W. P. Cutler, Mari­ $933,545 in 1886; net, $587,560, against $323,247 (in Mexioan cur­
rency).
etta, O., President.
The annual report for 1886 was in V. 44, p. 019, 625. showing gross
^M ^ ri,e tla £,o">o r l h G eorgia. —This narrow-gauge road, completed in earnings of $3,857,705; net, $1,404,617, equal in U. 8. money to $1,102,. *2* i 886’ ex|ends from Marietta, Ga„ to Murphy, N. C., 120 071; subsidy collections in 1886, $58,437. Total subsidy collections
«If «ft'nbn16
are at $7,000 per m le and the second from the beginning, $3,782,492, equal to $3,237.589 in U 8. money.
at $6,<K>0 ; stock is $1,560,000. R. M. Pulsifer, President, Boston.
—(V. 42, p. 60. 93, 125, 155, 21 A, 272, 431, 4 6 1 , 403,753; V. 43, p.
—(V. 43, p. ( 47, 578, 607.)
83,162,368. 547, 6 7 1,746.766,774; V. 44,p. 22,149, 211, 216,275,
H o u g h t o n A O n t o n a g o n .—Owns from Marquette, 308, ?43, 466, 6 i 9, 6 2 5.)
”
y5
branches, 65 miles; total operated, 160 M exican N ational K a liw a y (M e x .)—In Oct.,1886, road was from
of about 80.?00 acres. This was a consolidation Corpus Christ! to Laredo (Texas Mexican KR.), 161 miles; Laredo to
22,1872, of the Marq. A Ont. R y and the Houghton A Ontonagon Saltillo, 236 miles; Matamoros Div., 7-> miles; branches, 27 miles; total
u.1883 cousoUdated with Houghton A L’Anse Railroad Northern Division, 479 miles; City of Mexico to Paszcuaro, 273 miles;
and completed the extension from L’Anse to Houghton. The business Acambaro to San Miguel, 76 miles; El Salto line, 42 miles; Manzanillo
consists largely of the transportation of iron ore. 6
to Armeria, 29 miles; branches, 34 miles; total Southern Div., 454 milest
co n tro lW interest was purchased by a syndicate in total road finished, 933 miles, leaving a gap of 370 miles to be completed
i^ b d e r e s t of the Duluth south Shore A At'anilo RR. See V 43 d to connect the Northern and Southern divisions. The Texas-Mexican
547. The report for 1885-6 was published in V 42, p. 630, and the belongs to this company and forms pare of its line, the Mexican Nat.
M d T Z T n M w J 64/
surplus of $14,528 over interest payments owning $1,196,000 of its b<>ndj , and nearly its whole stock of $2,500,000s
143.3T,pt iSma Sioide^ ° n Pr®f 8to«k- Gross earnings in 188/$834,- a so an interest in $248,000 of the Corpus C. b’ds. The oompany received
143, net, $369,688. (V.42, p. 519, 6 2 9 ; V. 43, p. 5473
a subsidy of $11,270 per mile of road, secured by 6 per cent of the
Government receipts from customs. In July, 1885, sub idy payments
«in*«1*
^
h a r lffrom
* ton.:“
(,Sei MaP
o f Easl Ala
Tennessee
Vir- were
suspended, hut resumed on a graded scale in ’86. See V. 43, p, 103.
axnxa <&Georgia).—Owns
Memphis
to Stevenson.
272 miles*
Coupons on and after April 1, 1884, were passed. In Oct., 1886. Eng­
f e t o C h l t ^ S ^ ? M’ miles, to Florence 6 t X s f leiisedVsSven’
W ie d
+° “ ¿les ; total operated, 330 miles. This road was lish and American parties came to an agreement, and a modified plan
K M u f f o ^ T e n n e s s e e Virginia A Georgia Rail- of reorganization was made, by which foreclosure should take place aud
^
J ^ 1-,18??. Of the consolidated mort- a new mortgage at $9,000 per mile ($12,500,000) be placed on the whole
i o i 6Msi’iii2ii0S ?^ ie 8®0ured bfcthe old Tennessee 8tate lien for $1,736,- road, most of this to be used to complete the gap of 370 miles. The
in
i « « i oaitru8t^ ’ and™ 118 stand higher in value.
’ old bonds will be a second lien. The junior securities and stock which
Mexioan National Railroad Company proposes to issue at present
eeted in th^8EflSt^r««^l0ck °£.ih®8f ° ck wa8 obtained by parties inter­ the
re: $12,165,000 6 per cent 2d mortgage, series A, bonds; $12,165,000
n e s t h is a n d ^ n o iJ h ^ 86? Vlr# nla & Georgia RR., and in Sept., a
422?;
1?°re to make a majority was nut in the Central 6 per cent 2d mortgage, series B, bonds; $7,040,000 6 per cent 3d mort­
gage income bonds; $33,350,000 stock. (See V. 43, p. 598, and V. 44,
4
nino mouths from July l. cross pîît*tîîtiî>*^ were $1,259,068 in Chronicle of March 19,1887, p. V. of advts.)
1886-7,
again8t
$1,065,093
in
l8
8
V
^
-8
n
e
f^
2
5
g7
For 1885 gross earnings were $1,321,627; net, $208,890. For 1886,
780,
against
$333,845.
net, $»445,7
For the v e a r Anilina, t ____
$1,511,855; net, $262,516. (V. 42, p. 304,631; V.43, p. 88,
906; gross,
102. 245, 274, 309, 459, 598; V. 44, p. 275, 369, 401.)
M ic h ig a n C e n tr a l.—L in e o f R o a d .—Main line—Kensington to
190, Detroit,
270 miles; and Windsor to Suspension Bridge (Can. So.). 226
5 78. 671 ; V. 44, p. 22, Ì4 9 ,300, 551.)
miles; total main line, 496 miles. Branches owned and leased—Mich.
m hes^T^im vii —Owns from Little Rook, Ark., to Mem Air Line RR., 115; Jol. A No. Ind., 45; Grand River Valley, 84; Jack.
•old in foreclosure
was made Nov., 1872, and the property Lan. A Sag., 295^ Kal. A So. Hav., 40 : Det. A Bay City, 152; Sag. Bay
A No. W., 64; Tol. Can. So. A Det., 56; Can. So. Br. Co., 4 ; Mich. Mid.
A Can., 15; Canada So. branches, 99 ; Sarnia Chat. A Erie, 7 ; Erie A
Niagara, 31; total branches, 1,006 miles; total operated, 1,502 miles.
There are 121 miles of second track and 569 miles of sidetracks.




66

IN V E S T O R S ’

SUPPLEM ENT.

[V o l . X I4 V .

Subscribers w ill confer a great favor b y giving Im m ediate notice of any error discovered In tbese Tables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
When Due.
Amount Rate per When Where Payable, and by pal,
For explanation of column headings, &c., see notes of
Par Outstanding
of
Stocks- Last
Road. Bonds Value.
on first page of tables.
Whom.
Cent. Payable
Dividend.
Milw. Lake Shored West—Common stock ................ 562
Preferred stock......................................... ............... 562
Consol, mort., gold.................................................. 346
Income bonds (not cumulative).............................
Equipment bonds..................................................... ....
85
Michigan Div., 1st m ortg, gold (for $3,000,0U0)..
40
Ashland Division, 1st mortgage, gold...................
56
St. Paul Eastern Grand Trunk, 1st, gold, int.guar.
Funding notes........................... ..............................
Equipment................................................................
....
Convert, debentures for $2,000,000 gold.............
16
Ontonagon, 1st M.. gold ($15,000 a mile).............
65
Milwaukee <£ Lake Winnebago—1st mortgage, gold
__
Income bonds, gold (cumulative)..........................
Debentures, g old .....................................................
Milwaukee dt Northern—1st mortgage.....................
126
117
Bonds for $3,000,000 ($2,155,000 are reserved).
Mine Hill <£ Schuylkill Haven—Stock.......................
137
Mineral Range-Stock.............................................
12%
1st mort (for $200,000) coup................................
4%
1st mort., gold, on branch and extension..........
Houghton extension, g o ld ................ ....................
Minneapolis <t Pacific—1st mortg., $15,000 p. mile 218
Minneapolis <&St. L.—1st M., Min. to Merriam Juno.
27
1st mortgage, Merriam Junction to State Line ..
93
1st mortg., Minneapolis to White B. Lake, guar..
15
1st mortgage, gold, coup. (Al. Lea to Fort Dodge) 102
Improv. and equip, m., 1st series, coup................. 360
Mortgage on Southwestern extension...................
53
2d. bus., inc., 5 A 10 yrs. (White Bear to Ft. Dodge) 172
92
1st mortgage, gold, Pacific Extension..................
Wis. Minn. & Pacific.—1st mortg............... .......... 205

. ...
1881
1881
1882
1884
1885
1883
1835
1885
1887
1886
1882
1882
1884
1880
1884

....

$100
100
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

....

1,000
1,000
1,000
1,000
50
100
100 Ac.
1,000

1873
1885
....
1886
1,000
1836
1,000
1877
1877 500 Ac.
1,000
1877
1.000
1879
1,000
1882
1,000
1880
1,000
1880
1.000
1881
1884
1,000

Organizatio n , L e a s e s , &o.—The Michigan Central was chartered in
1846; the whole line, Detroit to Kensington, was opened in 1852. The
Detroit A Bay City road was foreclosed Feb. 12, 1881, and pur­
chased fer the Michigan Central, which leased it and put a mortgage
on the road. The other lines described above as leased are all held by
the Michigan Central nominally under leases at fixed rentals, but are
practically owned. The laud grant came from the Jackson Lansing &
Saginaw company as stated below.
In Nov., 1882, a close contract was made with Canada Southern for
working its road by the Michigan Central and for the division oi
net profits over all charges as follows—one-third to Canada South­
ern and two-thirds to Michigan Central; but the latter company is
entitled to an iocrease on this proportion as it diminishes its interest
charge by payment of bonds or otherwise.
S tocks and B onds —The Miohigan Central stock has remained at the
same amount since 1873. Prior to 1873 it was a regular 10 per cent
Stock. In 1872-73 paid 5 per cent and 4 in scrip, but afterward paid
no dividend till 1878, and since then Irregular amounts. Since 1870
dividends have been: In 1870-71, 10 per cent; 1871-72,10; 1872-73,
5 and 4 in scrip; in 1878, 2; in 1879, 3% ; in 1880, 8; in 1881, 6%; in
1882, none paid; in 1883,5; in 1884. 3; in 1885 and 1886. nil.
The range in prices of the stock has been as follows: In 1871,114®
126; in 1872, 113® 120; in 1873. 65®111; in 1874, 68%®95%; in
1875, 53®82%; in 1876, 348s®65%; in 1877, 35% @74%, in 1878,
58% ®75; in 1879, 73%=®98; in 1880, 75©130%; in 1881, 84%® 120;
in 1882, 77® 105; in 1883. 77® 100%; in 1884, 5l% ®94% ; in 1885,
46%®79%; in 1886, 6l%®98%; in 1887 to May 20, 86®95%.
The Jackson Lansing A Saginaw i ebt is assumed by Miohigan Central,
which also pays $70,000 per year on the stock of $2,000,000; the pro­
ceeds of J. L. A S. lands go to pay bonds, and in 1886 sales amounted
to 8,088 acres for $201,479 (including timber), leaving 304,146 acres
unsold, and land notes on hand, $324,931.
Oper atio n s , F inances , Ac.—The Mich. Central after 1873 becoming
liable for heavy obligations on leased lines, the company suspended
dividends. The road on through business is much affected by the com­
petition between Chicago and points eastward, and by the rates on
through freights. I gis operated under a close contract witn Canada South­
ern and the earnings of both roads áre included in the statistics below.
Tne annual report in V. 44, p. 583, gave the following:
1883.
1884.
1885.
1886.
1,505
1,515
1,516
Miles operated........
1,468
Operations—
Passenger mileage.. 180,749,225 164.908,660 155,573,989 171,317,751
2101 cts.
2 033 cts.
2 143 cts.
2 21 cts.
Rate pass. mile.
Fr’ght (tons) inii’ge. *1,141,282 *1,179,193 *1,232,477 *1,157,413
0 6l6o.
0*560c.
0"686c.
0-83 Oc.
Av. rate $ ton (p in.
Namings—
$
$
$
$
3,464,560 3,162,342
3,670,826
4,007,548
Passenger................
7,938,572
9,472,366 7,620,887
6,906,207
Freight........... .........
686,430
529,353
573,630
638,845
Mail, express. A c ...
Total grosseam’gs 14,009,767 11,659,077 10,707,394 12,295,828
Operating expenses
2.010,962
1,734,014
1,541,009
2,297,419
Ma nt’ee o f way, Ac.
1,099,887
1,106,839
1,397,233
1,378,178
Maint. of equipm’t ..
5,584,409
5,100,434 5,015,144
Transport’n exp’ns..
5,810,248
263,374
266,321
258,288
255,793
Taxes .......................

$2,000,000
5,000,000
4,350,000
500,000
180,000
1,281,000
1,000,000
923,000
200,000
500,000
650,000
225,000
1,430,000
520,000
200,000
2,155,000
975,000
4,081,900
128.000
160,900
100,000
100,000
3,270,000
455,000
950.000
280,000
1,015,000
2,000,000
636,000
500.000
1,382,000
3,080,000

1

*3%
6 g.
6
8
6 g.
6 g.
6 g.
7
6
5 g.
6
6 g.
5 g.
6 g.
6
6
3%
2%
8
5
5
5
7 g.
7 g.
7 g.
7 g.
6
7
7
6 g.
6

J. A *.T.
New York.
M. A N. N.Y., N. Bk. of Com’rce
M. A N.
do
do
J. A J. N. Y.. S. 8. Sands A Co.
J. A J. N. Y. Bk. of Commerce
M. A S. N. Y. Bk. of Commerce
J. A J. N. Y., S. S. Sands A Co.
J. A D.
do
do
J. A J.
do
do
F. A A.
do
do
A. A O.
do
do
J. A J. N.Y.,Farm. L. ATr.Co.
J. A J.
A. A O.
J. A D. N.Y.,Merch.Exch.N.Bk
New York City.
J. A D.
J. A J. Phila.M.H. A 8. H. R.Co.
Q .-J . N. Y.. H. S. Ives A Co,
J. A D.
do
do
A. A O.
do
do
J. A J.
H. 8. Ives A Co.
New York Agency.
J. A ’J.
J. A J. N.Y., Bank of Comm’ce.
J. A D.
do
do
M. A N. N. Y., Cent. Nat. Bank.
J. A D. N.Y.. Bank of Comm’ce.
J. A J.
do
do
J A D.
do
do
do
do
J. A J.
A. A O.
do
do
A. A O.
do
do

Jan. 1, 1887
May 1, 1921
May 1, 1911
1892
July 1, 1924
Mar. 1, 1925
Jan., 1, 1913
1887-8
1890-95
Feb. 1, 1907
1896
July 1, 1912
July 1. 1912
April 1, 1904
June 1, 1910
June 1, 1913
Jan. 15, 1887
Ap’ . 5. 1887
June, 1888
Oct. 1, 1915
Jan. 1, 1916
Jan. 1, 1936
Jan. 1, 1907
June 1, 1927
Jan. 1, 1907
June 1, 1909
July 1, 1922
Dec. 1, 1910
1890
April 1, 1921
Oot. 1, 1934

be consolidated with the Cinn. Jack. & Mackinaw. Gross earnings in
1885, $192,034; net, $22,389; payments, $17,953. (V. 43, p. 190, 217,
M id d le to w n U n io n vllle Sc W a te r G ap.—Owns from Mid­
dletown, N. Y., to Unionville, N. J. State Line, 13 miles. Is controlled
by N. Y. Sus. & West, by ownership of stock. In 1886 extended first
mortgage bonds for 25 years at 5 per oent. Gross earnings in 1885-86,
$39,590; net, $16,171; def. under Interest,Ac., $8,931. Gross in 1884-5,
$38,489; net, $12,791; deficit under interest, Ac., $14,303. Stock,
$149,850. (V. 43, p. 162.)
M ilw au k ee h ak e Shore Sc W e ste rn .—From Milwaukee, Wis.,
to Ashland, Wis., 391 miles, of which 4 miles are leased; branches—
Hortonville to Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 miles;
Eland June, to Wausau, 23 miles; Antigo to Malcolm, 11 miles; Monico
to Rhinelander, 16 miles: Clintonville to Oconto, 56 miles; branch to
mines, Ac., 36 miles; branches to Miohigan mines, 4 miles; Watersmeet branch, 5 miles; Ontonagon River branch, 6 miles; total, 577
miles. This company was organized in 1876 as successor to the former
ompany foreclosed in 1875. Preferred stock has a preference to the
extent of 7 per cent from net earnings. The debentures are convertible
into stock at par at anytime within ten days after the date fixed for
payment of dividends on common stock. The equipment bonds are
redeemable $30,000 per year at par; the funding notes $100,000 per
year; and the equipments of 1885 at $100,000 per year after 1390 ; the
Ontonagon 1st mortgage $25,0C0 per year at par.
The annual report for 1886 was In V. 44, p. 399. Gross receipts in
1885, $1,374.807; net, $430,417; interest and rentals. $366,845. In
1886, gross receipts were $2,353,982; net, $1,031,380; Interest and
rentals, $507,210. (V. 42, p. 2 4 1 V. 43, p. 162, 274, 334; V. 44, p. 60,
90,185, 275, 308, 343, 3 9 9 , 553.)
M ilw au k ee Sc h ak e W in n eb a g o . — Owns from Neenah to
Schleisingerville, Wis. Built in 1882 and leased for 99 years to Wiscon­
sin Central at 37% per cent of gross earnings as rental; but after
$175,000 per year is received the balance of net earnings is to be equally
divided. The $1,000.000 debentures were authorized to be issued as
required for improvements, and they are convertible on any coupon day
into preferred stock; the lessee pays interest on them till 1894. Pref.
stock, 6 per cent cumulative, $780,000; common stock, $520,000; par
of shares, $100.
M ilw au k ee & N orthern—(«See Map.)—Owns from Schwartzburg,
Wis., to Iron Mountains, 199 miles; branches—Menasha and Appleton to
Hillbert.Wis., 21 m ; Ellis June, to Menominee, 22 m ; total operated,
242 miles. Uses Chio. M. & St. P. track, 9 miles, into Milwaukee. The
stock is $2,155,000. Bonds are authorized at $17,000 per mile. Road
is under construction north to Champion. Gross earnings in 1886,
$646,226; net, $232,085; fixed charges, $200,961; surplus, $31,124.
—(V.43. p. 368; V. 44, p. 244, 276.)
M ine H ill Sc Sch u y lk ill H a v e n .—Owns from Schuylkill Haven,
Pa., to Locust Gap, Pa., with branches, 137% miles. Road was leased
May 12,1864, to the Philadelphia <&Reading Railroad Co. for 999 years
at a rental of $326,552 per year. There is no debt, and 8 per cent divi­
dends are paid. Operations are included in lessee’s returns.
M in eral R a n g e .—Houghton, Mich., to Calumet, M ich, 15%
miles; branch, Franklin Station to Franklin, 2 miles; total 17% miles.
Opened Sept., 1873. Stock is $128,000, on whioh dividends of 10 per
cent per annum have been regularly paid since the opening of
the road. In 1884 gross earnings were $124,892; net, $47,483; surplus
over interest, dividends, Ac., $19,115. In 1885. gross earniugs, $81,429;
8,959,132
8,014,613
8,404,679 net, $33,538; surplus over all payments, $4,206. Total surplus Sept. 1,
Tot. oper. expens.
9,741,638
4,268,129
2,699,945
2,692,791
3,891,149 1885 $94,949. (V. 41, p. 721; Y. 43, p. 132.
Net earnings............
M inneapolis Sc Pacific.—From Minneapolis northwest to Lidger,
69-53
76-34
74-85
63"35 wood, Dakota, 218 miles Owned in part by capitalists in Minneapolis,
P. o. op. exp. to earn’gs
and Income certificates for $4,360,000 are held by the projectors and
* Three ciphers omitted.
friends of the company. Bonds sold in New York in 1887 by Jno. H.
INCOME ACCOUNT.
Davis A Co.; they are limited to $12.500 per mile for road and $2,500
1884.
1885.
1883.
1386.
per mile for equipment. Hon. W. D. Washburn, President, Minneapolis,
Receipts—
$
$
$
$
Minn. fV. 44, p. 204, 211, 213 )
2.699,945 2,692,791
4,268,129
3,891,149
Net earnings .........
M in n eapolis Sc St. L o u is.—Owns main line, Minneapolis
79,858
67.701
72,216
45,190 Angus, 259 miles; Pacific Division, Hopkins to Morton, 92 m iles; Kalo
Int. and dividends .
2,779,803
4,335.830
2,761,007
3,936,339
Branch,
2 miles; Lake Park Branch, 1 % miles; total operated, 354%
Total incom e........
miles. Leases trackage from Minneapolis to 8t. Paul over St. Paul A
Disbursements—
$
$
$
$
184,310
184,310
184,310
184,310
No. Pacific R R .; also owns from Minneapolis to White Bear, 12 miles,
Rentals p a id ............
2,249,106 2,454,292
2,482,443
2,391,674 which is leased to the St. Paul A Duluth RR.
Interest on debt . . . .
20,448
8,679
Can. So. (ts of n et)..
611,571
407,335
The bonds of the $1,100,000 mort. (1877), numbered from 1,101 to
Total..................
3,044,987 2,659,050 2,675,432
2,984,319 1,400, for $500 each ($150,000 in all), are guaranteed by the Bur. Cedar
Rap. A No. RR. The bonds on the 15 mileuvere issued by the Minneapolis
120,753
89,575
Surplus for div*ds...
1,290,843
952,020 A Duluth Railroad before it was absorbed by this company. Preferred
1,124,292
374,764 stock of $8,000,000 is authorized and $4,000,000 issued; common stock,
Rate of dividends ..
(8)
(2)
$9,000,000 authorized and $6,000,000 issued; par of both $100 per
Balance................... sur.166,551 sur.120,753 sur.89,575 sur.577,256 share. The projected Southwestern extension runs from Fort Dodge,
la., towards Kansas City, Mo., 325 miles, with a branch to Council
* The balance to credit of income account Deo 31,1886, was $1,494,124 Bluffs, 140 miles. R. R. Cable, President, Chicago.
The Wis. Minn. A Pacific, Red Wing, Minn., to Eagle Lake, 84 miles,
-(V . 42. p. 4, 22, 5 7 3 , 753: V. 43, p. 6.23; V. 4 4 ,p. 6, 22, 583.)
M ich iga n Sc O h io.—Road completed Nov., 1883, from Allegan and Morton to Watertown June., 121 miles, is leased and operated by this
Mich., to Dundee, Mich., 156 miles, using the tracks of the Toledo Ann oompany, but the M. A St. L. has no obligation for the bonds. Com. stock,
Arbor A Grand Trunk, 22 miles, to Toledo, O., and Wheeling A Lake $2,055,000; pref., $3,080,000. Obas. F. Hatch, President, Minneapolis.
From Jan 1 to March 31 in 1887 gross earnings were$3S3,282, against
Erie tracks to Manhattan Junction, 2 miles. In Nov., 1884, the in­
terest on the bonds was passed and a receiver appointed. Foreclosure $337,099 in 1886; net, $103,150, against deficit of $82,893.
In 1885 gross earnings were $1,714,753; net, $592,621; charges,
sale was made Nov. 4, 1886, and the road purchased by .Messrs. Olcott,
Thomas and others of N. Y.; the new company organized is to extend $648,781, and net deficit after paying all charges was $11,708. In
the road about 121 miles; stock is to be $40,000 per mile of road actually 1886, gross earnings, $1,549,620; net, $503,538. (Y. 42, p. 156; V.
owned, and 5 per cent, bonds are io be issued at $8,000 per mile. To 43, p. 2 1 7 ; V. 44, p.495.)




May , 18t 7. J




RAILROAD STOCKS AND BONDS.

67

63

IN V E S T O R S ’

[V ol . X U lV .

SUPPLEM ENT.

Sab*«ribera w ill eonfer a p M t fk ror by « lv ln « Im m ediate notice o f any error Alecorered In theae Tablea.
"
Bonds—Prtnol •
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal. When due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Par Outstanding Rate per
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Payable
Cent.
Value.
Bonds
Road.
on first page of tables.
Loudon A New York. July 1, 1926
J.
A
J.
$3,000,000
$1,00J
1886
5
g•
250
M in n ea p olis Sault Sic. Marie A Atlantic—1st M., g.
July 1, 1934
do
do
7,682,000
1,000
5 g- J. A J.
M in nesota A Northwestern—1st M., g., $16,000 per m 460 1884
A. A O. N. Y., Harriman A Co. April 1, 1902
8
1,000
977,000
Mississippi A Tennessee—1st mortgage, senes “ A . 100 1877
July 1, 1902
do
do
J. A J.
1,003,000
1,000
:j8
1st mortgage, series “ B ,” (a second lien).............. 100 1877
....
....
100 '46,405,000
1,441
Missouri Kansas A Texas—Stock
Jan., 1899
N.Y.,
Mercantile
Tr.
Co
2,067,000
1,000
<Lg. J, A J.
letm ., gold, sink, fund, on road and land (U.P.S.Br) 182 1868
June, 1903
do
J. A D.
1,000
347,000
H
100 1870
1st mortgage, gold (Tebo. A»Neosho).. . . . . . . . . .
1904-1906
do
7 g. F. A A.
786 1871-3 1,000 14,843,000
April 1, 1911
do
A. A O.
6
756,500
2d m., income, exchangeable for geni. m. 5 per et 786 1876 500 Ac.
May 1, 1906
do
844.000
1,000
7 g. M. A N.
1873
Booneville Bridge bonds, gold, guar......................
Dee. 1, 1920
do
J.
A
D.
5
A
6
g.
24,383,000
1,000
1880
;■General consol. M.,gold ($7,829,000are 5s)...'.... 1,526
1900
do
J. A D.
6
347,000
1880
~ East Line & Red River------May 1, 1890
do
M.
A
N.
1,000
729,000
7
g.
1870
70
Hannibal & Central Missouri, 1st and 2d mort .
Nov.
1, 1919
do
1,000
7,954,000
6 g. M. A N.
776 1879
Intemat. A Gt. North’n, 1st mort., gold.............
1909
do
M. A S.
6
7,054.000
776 1881 500 Ao.
do
2d mortgage..................................
1920
do
M. A N.
-__.225.OQOL - 7
1880
do
Colorado Bridge bonds........ .
1, 1887
T o o 45^00,000
1%
Q .-J ; N. Y., Mercantile Tr. Co April
Missouri Pacific—Stock........... ............................... 1,483
Aug., 1888
do
do
1,000
7,000,000
6 g. F. A A.
1st mortgage, gold (Pacific RR. of M o.)................ 283 1868
July,
1891
do
do
J.
A
J.
7
1.000
2,573,000
2d mortgage (s. f. $50,000 per annum).................. 283 1871 500 Ao.
May 1, 1892
do
do
M. A N.
8
800,000
1872
Real estate (depot) bonds.....................................
Nov.,
1906
do
do
M.
A
N.
7
1,000
3,828,000
299 1876
8d mortgage........................................................ .
Nov., 1920
do
do
1,000 14,714,000
6 g. M. A N.
Consol. M., gold, for $30,000,000 (coup, or reg.).. 990 1880
Jan.
1,
1917
do
do
M.
A
S.
1,000
5,000,000
5
g.
1887
Collateral trust bonds, gold.....................................
Oot. 1, 1893
do
do
1,000
245,000
6 g. A. A O.
1873
Carondelet Branch, 1st mortgage..........................
Oct.
1,
1889
do
do
A.
A
O.
1,000
190,000
7
21 1870
Leavenworth Ateh. AN . W., 1st mort., gu a r.....
Aug., 1920
do
do
F. A A.
5
650,000
1880 500 Ao
St. Louis A Lexington, 1st mort
1926
do
do
J.
A
J.
1,000
800,000
5 g80 1886
Leroy A Caney Valley RR. 1st mort., gold, guar..
do
do
....
(Î)
Verdigris Vail. Independence & W., 1st M., guar.
Aug. 1, 1892
do
do
F. A A.
1,000
7
4,000,000
210 1867
St. L. iron Mt. & So., 1st mort., coupon
May 1, 1897
1,000
6,000,000
7 g. M. A N. New York or London.
2d M.. gold, coup., may be r e g ............ 310 1872
do
June 1. 1895
N.Y.,
Mercantile
Tr.
Co
J.
A
D.
1,000
2,500,000
7
g.
99 1870
Ark. Branch, 1st mort., gold, land gr- ■
do
June
1, 1897
do
do
1,000
1,450,000
7 g. J. A D
71 1872
Cairo Ark.<fe T., 1st, gold, cp.or r e g .....
do
Jan. 1, 1891
do
do
1.000
7,428.000
7 e. J. A J
Cairo & Fulton. 1st, g., on road Aland.. 304 1870
do
The general consolidated mortgage is at $20,000 per mile on a 11 road
M in n eapolis Sanlt S le. M arie Sc A tla n tic.—Road fin shed built
and to be built; of which a sufficient amount was reserved to take
fromTurtleLake, Wis., to Rhinelander, Wis.. 141 miles, and 250 nades I up
first consol, and prior bonds, and for the East Line & Red R iver bos.
to be completed by Sept., 1887. Total length, as P^Jeyted from Minne^- in 1887
a compromise was made (V. 44, p. 276) by which m ost of the
apolisto Bault Ste. Marie, is 465 miles. A loan o f j p , 000,000 in 5 per
bond coupon scrip was retired.
„ . „ .
, .
cent bonds was offered in April, 1887, by Messrs. Morton, Bliss & Co., IS. Income
There are $32.000 of Hannibal & Cent. Mo. 7s 2d mort. (M.A N. bonds)
Y., the bond - to be delivered by Sept. 1,1887. and out of the proceeds a yet
out,
due
in
1892;
and
also
a
small
amount
of
old
8
per
cent
income
sum was retained to pay coupons up to July, 1889. Common stock,
of International & Great Northern, exchangeable mto Int^&G.
$8,000,000; 7 per ct. pref., $4,000,000. W. D. Washburn, Pres., Minne- bonds
N. 2d mortgage bonds. The I. &G. N. also guarantees $2,000,000 of
Houston & Henderson 1st mortgage 5 per cent bonds.
* % ln n e a o ta Sc N orth w estern .—(See Wop)—Line of road from St. Galveston
The annual report for 1886, in V. 44, p. 400, had the following :
Paul. Mlun., to Dubuque Iowa, 253 miles: Chicago, 111., to l. y.
EARNINGS AND EXPENSES.
June., 111., 97 miles; Lyle Branch, Hayfleld to Manley Juno., 47
m iles: Waverly Branch, Sumner, la., to Hampton, la., 63 milesj total
1886
1885.
1884.
Earnings from —
460 miles (the mileage opera ed in April, 1887, is 280 m.; Chicago Passengers................................... $1,691 596 $1,592,713 $1,575,920
Division to l)© open in June); under construction L C. June, to portage Freight............................................. 5,166.673 4,833,86 J 5,470,742
404,982
Curve. 111., 52 m ies. At Oelwein connects with tlie Oh. 8t. Paul & k . Mail, express and miscellaneous..
427,082
458,981
City RR. The road from Lyle to Manley Junction. 20 miles, Is leased to
$7,451,644
the Central Iowa. The common stock issued is $6,128,300; prer. stook,
$7,317,250 $6,853.655
4,228,754
7 per cent non-remulative. $4,392,200. The first mortgage bonds ar| Operating expenses..................
4.347,246 4,055,101
Ratio of expenses to earnings....

$2,970,004 $2,798,554 $1,222,890
56-74
59-1
59-41
; ACCOUNT.

$203,374. See annual report--------------- - ■.
- — - .
.
Pres., St. Paul, Minn.—(V. 43, p. 72,162, 480, 516, 607; V. 44, p. 204.)
M I mmIssI p v I Sc Tenn essee,—Owns from Grenada, Miss., to Mem­
phis, Term., 100 miles. Capital stock, $825,455. Debt was consolidated
as above in 1877. A majority of stock was sold in May, 1886, to E. H.
Harriman and others identified with the 111. Cent. RR., and on July 1,
1886. default was made in the payment of iuterest on the Series B
bonds, though an offerto cash the ooupons was made. The present man­
agers state that the net earnings of previous years to those given
btlow have been overstated through the omission of taxes and general
expenses from operating expenses. See annual report for 1885-6 in
Chronicle, V. 43, p. 773. The earnings and income aocount were as
&Uo™ :
Gross earnings...............
Operating expenses....
Interest on bonds..............................................

1885
$489,549
363,704

1886.
$425,718
328,360

158,400

l.. 8,400

Deficit for year_____________ _____ _
$32,555
$61.042
—(V. 42, p. 2 1 , 604; V. 43, p. 23, 634, 7 7 3 , 77 5 ; V. 44, p. 211, 212.)
M is s o u r i K a n s a s Sc T e x a s .—(See Hap Mo. Pac.)—L in e o f R o a d
—Hannibal, Mo., to Denison, Tex., 622 miles; branches, Dallas^ Green

Tex., 66 miles; coal branches, 8 miles; Jefferson, Tex., to McKinney,
Tex. 155 miles. Total, 1,483 miles. International A Great Northern
from Longview, Texas, to Galveston, Texas, 282 miles, of which 50 miles
leased from G. H. & H., and Palestine, Texas, to Laredo, Texas, 415
miles; branches—Houston to Columbia, 50 miles ; Phelps to Huntsville,
8 miles ; Mineola to Troupe, 44 miles; leased—Round Rock to George
town, 10 miles; Henderson to Overton, 16 miles; total operated 825 miles
Organization , H istory , Ac.—The M. K. & T. Company was organized
April, 1870, and embraces by consolidation the Union Pacific Southerif
Branch, the Tebo A Neosho and other minor companies. In 1874 the Han­
nibal & Central Mo. was purchased. The company made default on its
eonsolidated bonds in Dec., 1873, and was operated by a Receiver from
Dec. 30, 1874, to July 1,1876. when the Union Trust Company of New
York took possession. On Dec. 1,1880, the company took possession
« f its property, paying the overdue ooupons. The company had a land
grant which has been practically closed out ; also a grant in the Indian
Territory of 3,622,400 acres subject to the extinguishment of the
________________
_
iept
Tnriian till«. Tile___
Booneville
Bridge Company is a separate
organiza«o n , and earns interest and proportion for sinking fund.
At a meeting of stockholders May 18,1881, a lease to the Mo. Pao. for
89 years was ratified on terms following: That the lessee operate the
road and pay the obligatory mortgage interest, paying over the balance
tcth eM o Kan. & Texas Co. If there is a deficit in income the lessee
m ay advance money to pay interest, or else the Mo. Kan. A Texas can
resume possession of its road.
The International & Great Northern Railroad was acquired by Mo,
Kan. A Tex. in May, 1881, by an exchange of two shares of Missouri
Kansas A Texas stock for one of International A Great Northern,
and the Int. A Gt. N. stook is held in the treasury of the M. K. A T. The
Int. A G. N. roads were sold in foreclosure. July 31 and Oct. 14,1879.
Stock a n d B o n d s .—The stock has ranged as follows since 1877,

Receipts—
Net earnings...
Dividends, Ac.

1886.
1885.
1884.
$2,970,004 $2,798,554 $3,222,890
126,453
189,799
457,419
$3,427,423 $2,983,353 $3,349,343

Disbursements—
Taxes, rentals, Ac.

$2,439,618 $2,439,427 $2,483,363
310,646 *1,502,022
479,661

$2,919,279 $2,750,073 $3,985,385
Balance for year. . . . . . . . . . . . . . . . •.snr,$508.144sur.$238,280def.$636,012
This includel some adjustment of accounts with the I. A G. N.
_(V 42. p.394,631. 661: V. 43, p. 162,431, 516, 619, 746, 766; V. 44,
p. 90, 211, 276, 3 6 8 , 4 0 0 , 495.)
M is s o u r i P a c if ic , — (See Map.). — L in e o f R o a d . — Owns main
line from St. Louis, Mo., to Omaha, Neb., 496 miles; branches 805
miles; total 1,301 miles. In May, 1881, the St. Louis Iron Mountain
A Southern was taken in. In 1886 the mileage was as follow s: From
St. Louis to Texarkana, Texas Line, 490 miles; branch lines, Mineral
Point, Mo., to Potosi, Mo., 4 miles; Bismarck, Mo., to Belmont, Mo., 196
miles; Poplar Bluff, Mo., to Bird’s Point, Mo. (Cairo), 74 miles; Gurdon,
Ark., to Camden, Ark., 34 miles; Knobel to Forrest City, 97 miles ;
Forrest City to Helena, 43 miles; Newport to Batesville. 29 miles i
Neelyville to Doniphan, 20 miles; Allenville to Jackson, 16 milei; total,
1,003 miles.
O r g a n iz a t io n , L e a s e s , Ac.—The Pacific RR. Co. (of Missouri) was
incorporated under charter dated March 12, 1849, and road opened to
Kansas City in October, 1865. The company received a loan from the
State of Missouri.
,
...
.
The Paciflo Railroad of Mo. was sold in foreclosure of the 3d mortgage
Sept. 6,1876, for the nominal price of $3,000,000, to C. K. Garmon
and others, and a new company organized with a stock of $800,000.
This foreclosure was afterwards contested by suit, but all litigation was
settled in April, 1885. The present company was a consolidation in
August, 1880, embracing the Missouri Pacific, St. Louis A Lex., Kansas
City A East, and Lex. A South, in Missouri; and the St. Louis Kan. A
Ariz. and Kan. City Leav. A Ateh. in the State of Kansas.
The St. Louis Iron Mountain A Southern stock was taken up with
Mo Paciflo in May, 1881, on the basis of three shares of Mo. Paciflo for
four shares of Iron Mountain, and the St. Louis A Iron M. stock is
held by Missouri Pacific.
St o c k a n d B o n d s .—Under the new regime the payment of dividends
was begun on the present stook in 1880, in which year Ha per cent was
paid Dividends since were as follows f in 1881, 6; in 1882, 61* ; iu
1883,7; in 1884, 7; in 1885,7; in 1886, 7.______T _
«
The consolidated mortgage above is for $30,000,000—trustees John F.
Dillon and Edward D. Adams. Of the consol, bonds the balance unissuea
($15,290,000) is in the hands of trustees to redeem prior bonds as they

^Fortiie payment for new lines acquired and to be acquired there was
issued iu 1886 $10,000,000 of new stock at par to old stockholders, ana
another $5,000,000 in 1887. Also the collateral trust bond- (Union
1rust Co. of N. Y.,Trustee) secured by mortgage bonds of new railroaos
at $12,000 or $15,000 per mile. The Leroy A Caney Valley Railroad, in
Kansas. 8u miles, is leased and bonds guaranteed by Missouri Pacino
as also the Verdigris Valley Independence A Western.
O p e r a t io n s , F in a n c e s , Ac.—The earnings and income aeeount below
are for the Missouri Pacific and its branches only (1,103 miles); for, not­
withstanding the merger of St. Louis A Iron Mountain stock and lease oi
M issouri Kansas A Texas, the operations of all the roads have been
k e p t separate and are so reported.
The consol, mort. 7s, due 1904-6, had a sinking fund of 1 percent
The manual report of Mo. Pacific for 1886 was published in the Ch ron ­
year, beginning in 1874, but the sinking fund not having been carried
out, it was reported that bonds for all back years, incluuing interest ic l e , V. 44, p. 368. The earnings, income account and balance sheet,
have’
been as follows:
would be called in for redemption.




M a t , 1887 ]




R A IL R O A D ST O C K S A N D BONDS,

69

INVESTORS’
SUPPLEMENT.
[V ol . x l i v .




RAILROAD

M a t , 1887.]

STOCKS AND

BONDS.

71

Subscribers w ill couler a great favor bjr giving Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
INTEREST
Miles Date Size, or
Amount
Par Outstanding
of
For explanation of column headings, Ac., see notes of
Rate per When
Road. Bonds Yalue.
on first page of tables.
Cent. Payable
Missouri Pacific—(Continued) —
St.L.1. Mt.A So.,Gen.consol.M. (for $32,036,000) 1
do
do
supplemental, gold J
Mobile <£ Dauphin Island—1st mort., gold..............
Mobile c6 Oirard—2d mort., end. by Cent. Oa. R R ..
3d mortg. bonds.......... ...................... .....................
Mobile d Monty.—Stock................................................
1st mort. bonds by L. A N. RR. Co..................... .
Bonds.................................................................. .
Mobile <£ Ohio—Stock ($10,000,000)..........................
1st mortgage, g o ld ................... ..........................
1st mortgage, extension, gold................ ................
1st pref. inc. and s. f debentures, not cumulative
2d
do
do
do
3d
do
do
do
4th
do
do
do
Montgomery <£Eufaula—1st mortgage.....................
Montgomery if Florida—1st mortgage, g o ld ...........
Montpelier <£ Wells River—Stock........................... .
Morgan's La.dt Taros—Stock.......................................
1st mort., gold (N. O. to Morgan City)...................
1st mortgage, Alex. Extension, gold . . . ...............
N. O. Opelousas A Gt. Western, debt assumed. . . .
Morris & Essex—Stock.................................................
1st mortgage, sinking fu n d ...................................
2d mortgage........ ...................... ................... ........
Convertible bonds.....................................................
Gen. m. A 1st on Boonton Br. &c. (guar. D.L.AW.)
Consol, mort. (for $25,000,000) guar. D. L. & W..
Special real estate mortgage.................................
Real estato terminal mort. (guar. D. L. & W).......
Nashua <t Lowell—Stock............................................
Bonds ($100,000 are gold 5s. J. & J., 1900)...........

1881 $1,000 $10,353,000
5 g.
1881-2 1.000
3,389,000
5 ft.
1,000
1,500,000
1837
6 g.
261,000
1869
1,000
8
1,000
800,000
1877
4
180
100
2,950,800
3
1,000
2,689,000
179 1881
6
....
261,000
6A8
100
5,820,600
528
472 1879
1,000
7,000,000
6 ft55 1883
1,000
1,000,000
6 g.
1879
4,893,000
7
1879
1,850,000
7
1879
600,000
7
1879
900,000
7
81 1879
1,500,000
6
30 1886
1,000
450,000
6 g.
38
50
800,000
2
5,000,000
Ì02 1878
1,000
5,000,000
7
157 1880
1,000
1,477,000
6 g.
....
80
251,716
8
....
132
50 15,000,000
3 Lì
84 1864 500 Ac.
5.000,000
7
84 1866 500 Ac.
2,999,000
7
Var’us 1,000
284,000
7
34 1871
1,000
4,991,000
7
137 1875
1,000
6,557,000
7
....
1,025,000
7
___ 1882
1,000
2,220.000
4*gA5
54
100
800,000
3 ia
’73-’80
300,000 1 6 A 5 g.
36
85

Whom.

Bond s—Prrnei
pal, When Due.
Stocks—Last
Dividend.

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

O. N. Y., Mercantile Tr. Co. April 1. 1931
O.
do
do
April 1. 1931
N.
New York Agenoy
May 1, 1927
J. N. Y., Nat. City Bank.
Jan., 188»
D.
do
do
June, 1897
N. Y., L. A N. Office.
May. 1887.
M. A N.
do
do
May 1, 1931
Various
N. Y. & Louisville.
J. A D. N.Y. Farmers’ L’n A Tr Deo. 1. 1927
Q.—Jan
do
do
July 1. 1927
Yearly. N.Y., 11 Pine Street.
Last pd. 2 p. o. in 1881, Redeemable
only by
sinking fund.
J. A J. N.Y., Nat. City Bank.
July 1. 1909
M. A N.
New York.
1926
Boston.
CD
Dec., 1384
A. A 0. N. Y., So. Pao. RR.
April
1. 1918
J. A J.
do
do
July 1. 1920
A. A O.
do
do
April
1. 1889
J. A J. N. Y., Del., Lack A W.
Jan. 1, 1887
MAN.
do
do
M
a
y
l,
1914
F. A A.
do
do
Aug. 1, 1891
J. A J.
do
do
Jan.
1.
1900
A. A O.
do
do
Oct., 1901
J. A D.
do
do
June 1,1915
J. A J. N. Y., Del. Lack. A W. July 1. 1912
M. A N. 2d Nat. Bk., Nashua,
May 2. 1887
F. A A.
do
do
1893 A 1900

1

«iO.OOO.OOO, or iOO.OOO shares of $100eaoh, of which there have been
Earning*—
1834.
1885.
1886.
53,206 shares. The debentures are secured by a deed of trust of the
Passengers..................................
$2,043,457 $2,004,578 $2,020.597 issuedabout
1,143,222 acres, and receive 7 per cent, if earned. In Jan
Freight........................... .
6,047,339 5,153,025
5,518,296 1886, there were in the sinking fund $437,000 of the first debentures
Mail express and miscellaneous...
686,832
785,959
1,106,127
In August, 1881, 7 per cent was deolared on 1st preferred incomes 7
Total e a rn in gs...................... $8,777,623 $7,943,562 $8,845,020 also 2 per cent on 2d incomes. In August, 1882, 2 per cent on the
p£?ferred meomes: ^ 1883,3 per cent; in 1884,5 percent in
Operating expenses........................ 4,492,877
4.338,319
5,238,723 ?£lts
1985, 3*3 per cent.
The report for 1885-86 was published in the C h r o n ic l e , V. 43, p. «06
Net earnings......................
$4,284,751 $3,605,243 $3,406,297 and
stat.i ci that: “ The tonnage moved exceeded the movement of the
Ratio of espouses to earnings......
5118
54-61
60"59
previous years, both in volume and in ton-miles, but with a large de­
INCOME ACCOUNT.
crease
in the revenue derived therefi oin; the iuorease in the movement,
Receipts—
1884.
1835.
1886.
Net earnings........ .......................... $4,284,750 $3,605,243 $3,400,297 notwitbstanding the largely diminished looal traffic, is due to a large in­
crease
in
through and competitive business which latter is mainly of a
Dividends, Ac ................................
206,822
792,835
1.360,832 very low class of freight, and the same causes affect the revenue in the
to the tonnage. The cotton movement was about the. same as
Total net Income................... $1,491,572 $4,398,078 $4,767,129 reverse
the previous year, both in volume and in revenue.”
Disbursements.
Income account for four years ending June 30 was as follow s:
Interest on bonds......................... $1,798,200 $1,822,727 $1,875,470
INCOME ACCOUNT.
Dividends p a id ............... .
2,098,105 2,098,000;
1882-83.
1883-84.
1884-85.
18=5-86.
Rate of dividend.................
7
7
[ 3,185,762 Gross earnings........... $2,271,058 $2.278,917
$2,101,025 $1.962,328
Taxes, rentals. A c......................
775,036
568,848 !
Net receipts....................$630,034
$731,450
$524,839
$537,324
Disbursemen ts—
Total disbursements.................. $4.671,341 $4,489,575 $5,061,232 Interest on mort. bonds $456,000
$471,200
$482,400
$481,600
Balance for year........................def.$179,769 def.$91,497 def.*294,103 Interest on incomes....... 159.000
265,000
1,626
» 5 ! ; l£SSiIr?5 t¥ ° DST«A1N,^ Southern. This company defaulted on Miscellaneous.................
49,038
lx« interest in 1875 and tinallv made a compromise with its bondholders
There are yet outstanding $346,384: of old income bonds of the several
Total disbursem’ts .. $610,626
$736,200
$482.400
$530.638
issues and $73.000 of the Cairo & Fulton seconi mortgage bonds. B a la n ce........ . . . — Sur.$13,408 Def. $4,750 8ur.$42,439 Sur $6 686
The Mercantile Trust Co., of New Yoik, is trustee of the general
(V. 42, p. 22, 93, i56, 243, 365, 549, 631, 783; V. 43, p. 606.> * ’
consol, mortgage. The stock is nearly all held in the treasury of the
] ? o n f,So m e i jr * E u fa u la .—Montgomery to, Eufaula. Ala
80
Missouri Pacific JEtallway Co., having been retired In May, 1881 by the
“
d}1
68:.
road was foreclosed May 1,1879, bought by W. M. Wadley,
issue of three shares of Mo. Pac. stock for four of St. Louis & Iron
company organized.
Operated under oontraot by
Mountain. The sales of land in Arkansas on which the Cairo & Fulton f'Anttu u P«f
Cent. RR. of Georgia. Stock Is $620,000. Gross earnings vear ending
a uen are given in the report for 1886 as 44.184 acres June
30,1884, $299 470; net, $90,763. Div. o f 10 p c . S in Apl ’83 *
at $2-88 per acre. Lands yet unsold, 886,157 acres.
* E t o r id a .—Owns from Montgomery, Ala., to
.
report for 1886 was published in the Chronicle, V. 44. p 3«8
400, and the income account was as follows:
1'
’ McBrides, 30 “ mes, and in progress towards Ohattuhoocliie, Fla. This
was formerly the Montgomery Southern road, and was foreclosed In
_
INCOME ACCOUNT.
Receipts—
1884.
MiwiA8*86’ i*ad reorganized. C. W. Scofield, President, 115 Broadway.
1885.
1886.
M ontpelier & W e lls R iv e r.—Owns from Montpelier to Weils
bet earnings....................................$3,464,599 $3,619,4'6 $3,443,281
River, Vt., 38 miles. Reorganized January, 1877. D. R. Sortwell
Other receipts..................................
44,727
44.741
159,800 Rr®s^ eat> Last Cambridge, Mass. Gross earnmgs in 1884-5, $92 814*
Total not income........................$3,509 321 $3,664,157 $3,603,081 net, $17,774. Gross in 1885-6, $94,747; net, $8,262
Disbn rsements—
L ou isian a Ac T exas R a ilro ad & Steam ship C o —
owned is from New Orleans to Oheneyville, 204* milesInterest on b on d s........................... $2,206 854 $2,215,304 $2,214,131 ? b®
branches,
5o
miles;
Cheneyvllle to Alexandria (under track agreements’
Taxes, br’ge, and qgr exp.,Ac ... . . ’ 554,093
397,522
350,144 24 miles; total, 283 miles.
In February, 1883, the stook wasliold t-n a .
1885^e<B4
m5 thd tb,e 8.0utlieri1 Pacific Company held (Deo. 31,
1885; $4,062,700 out of toe whole stock of $5,000,000. This ooninanv’«
property consisted of seventeen iron steamships plying b e H New
York and New Orleans and between Gulf ports, also w h a le s w arZ
houses, and terminal facilities, besides toe capital stook of railroad and
other
companies, Including a majority interest in the c a n it a l s t n e t
* H a r b o r C o .-F ro m Mobile Houston
& Texas Central Railway Co Ac In i n i * rrol* 2L oftl10
were $1,138.525: net. *1.059.51« Fn is « *

8uJlusa^ i wU.frement8.................^¿760,947 $2,612,826 $27564^75
/
.............................. $748,379 $1,051,331 $1,038,806
f * •42, p. 22, 93* 125, 339. 3S7* 463* 661 72ft
roq. \r an « oak
309, 459, 746. 766 ; Y 4 1 .
212, 244, 343’,
2* 5’
to” almbindisrtn(lPA1Hn 4 8i,oiid

Kkfe0Coun^m
8tock°Cf„r oa
utral of Georgia

1’ 7®86’ thl8 ,roail was leased to the

43, p. 103, 398.)
0 ^ 8 b “ tm & M” ?^otiS:e0r r eI L ~ (Sm Z al n LouX ville * Nashville) old road wau sold i^foreclosm ^N ov l ^ i s v l ’
182 “ j 1®8- ^ The

& s r d % - 8 § , ( l o o a&
surplus, $33,367.

! M

V

th?

nei’ $-*46,011, rnt. and taxes, $212,643;

AVALVAAAB UL, JClBBÜA,N. J., 84 miles; branch,
... u.. vim. m im a
~ - . -™.
Hoboken, N. J., 34 miles; leased Dover to Chester, 10 miles* N^wZrt xi
Bloom. RR., 4 miles; total operated, 132 miles In l«fi’s tniTarfe ^
was leased m perpetuity to the Del. Lack & W RR
tbis road
all liabilities of the Mor. & Essex RR and pay 7 p m ce lt ™ ®a8 a8Bum®
toe capital stock, and they also agreed to pay s le r len t in l « » ^ 11
M0m18o^iE8^ earn8 10 Per cent on its stock In any oSe vear £ £ £ S “
year 1874. The Morris & Essex is important to the Delaware*1? ^
e8t®rn1a8 a route with terminal facilities on New Y o r ^ n « 8"
bor, but toe actual earnings on the road show a large annual
the lessee company after the payment of rental. The fosstn Ä 01* for
hi 1880. $1,012,416; in 1881, $985.890; in 1882
i ^ n le?8eS waa
* V ° l 2 18:An w
1884 about « l . l V o ö o T i n i s s l a bou tlgoooA o11 1883’
N a s h u a Sc I aowc II*—Owns from Lowell m «« h ? vr *
15 miles. On October 1,1880. a lease for 99 years tÜ
' HLowell was made. The rental is $60,000 per year eoual Ä i ? ° 8toil &
on stock, payable absolutely, and $4,000 (or one
per oent
more) is payable contingent'upoi the am om t of «ro f ea^T. per c5n‘
per cent has been paid as rental for toe nast three
an^ 8
debt of $300,000, principal and interest is assumed kZ+l Tbe iunded
Nm S
Ä
u 8966’8 ÜO‘l 8 l or tb® «ame amcunÄsoo.OOO
“ d

to ^lum bus
leases 8t. L. & C. RR S o to f i t t S
’ ? J eni*- RR> J° Cairo, 21 m :
stadt, 9 miles ; branc-hes-Artesia m , * ! ’ A 5?, “ lll§1
8* and track to MillArtesia, Miss., to ^ r k v ille M iS . ’ l i r Vit0 £r0lJ*iubu8’ Miss., 14 miles;
Miss., 9 miles ; total owned
Muldon, mss., to Aberdeen
July, 1885, the gauge was ch in J ïïa fe
«88 miles. Iri
Dee., 1885, the lease of T h e 8t
tostandard, 4 feet 8 *a inches. In
for 45 years at a rental guaranteed ? Cairo RR. (161 miles) was taken
A default was made M a v l^ e v i w ? + 0un£ to $165*000 Per year,
possession May 8,1875 and the c l ’n fnaA ° tru8tee8 and receivers took
closure. The holders of debentm-es
“ T®?1* “ 12641 without fore­ ShelbyyiUe, Tenn., 8 . Ä ? ^BridglpArt“
^
l Ä
’
“
fear they instruct toe l ^ e r a - l a T DnA0H,fof eac\ $100’ aad each miles, pnmrietary lines—Nashv. to Lebanon, 30 miles*
in®
»he stockholders’ meeting«
“ A ”.9?-» trustees, how to vote at Branch, 61 miles; Decherd to Fayetteville 40 mile«’, ¿^Minnvilla
Branch 47 mUes; Duck River RR. (leased)748 mUes totol
A majonty of toe stock ($3,385,000) is owned hvVt,» r „
mites.
Nashville
RR. Company and pledged among the coHifw!uai8J Rle *
Of said debentures. The capital s t o c r e t h S e ^ b / t o W l S a
rust loan of that company.
5
S me collaterals for the

SK




ïrk æ S fê

72




INVESTORS’

SUPPLEMENT,

[V ol .

XLIV,

M a t , 1887.]

RAILROAD

STOCKS

AND

BONDS,

73

Subscriber« w ill confer a great fttvor by g iv in g Im m ediate aotlce o f any error discovered In these Table«.
Bona»—Pnncl
INTEREST OR DIVIDENDS.
d e s c r ip t io n .
When due»
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,
Stocks—Last
Par
of
of
Outstanding Cent. Payable
For explanation of column headings, Ao., see notes
Whom.
Dividend.
Value.
Bonds
Road.
on first page of tables.
1
Q.—J. New York A Nashville. Apr. 20, 1887
$25 $6,668.362
Nashvitle Chattanooga A Si. Louis—Stock............... 554
J. A J. N.Y., Continental N.Bk. July 1, 1913
7
6,300,000
1,000
1st mort. (for $6,800,000), c o u p ........................... 840 1873
J. A J.
do
do
6
July 1, 1901
1,000.000
1,000
1881
321
2d mort........................................- ----------------------4
J. A D.
do
do
June 1, 1891
500,000
Bonds held by U. 8. Government... . . . . . . . . . . . . . . .
J. A J.
do
do
6
Jan. 1, 1917
480,000
1,000
1877
N. C.A St. L , 1st M. on Fayette. & MoM. branches
J. A J.
do
do
6
Jan. 1. 1917
300.000
1,000
1877
do
let mort. on Lebanon Branch..........
do
do
6 A 8 J. A J.
1907 A 1923
173,000
1,000
1877
do
for Jasper Branch............................
J.
A
J.
do
do
6
Jan.
1. 1928
376.000
1882
do
for Centreville Branch..............
do
do
....
6
1909
500,000
1886
do
for Tenn. Coal A Iron RR................
do
do
M.
A
N.
Nov.
1, 190»
6
71,000
ls81
Duck River RR., 2d mort., endorsed.......- - " ¿ W
J. A D.
Nashville.
3
June6, 1887
1,642,557
Nashville A Decatur—Stock, guar'd 6 p . 0. by L. AN.
N.
Y.,
50
Exoh.
Place.
J.
A
J.
July
1, 1900
7
1,900,000
lö ö o
1870
1st mort. guar. s. ............................................. ----178,000
6 g- A. A O. Nashv., 4th Nat. Bank. Oot. 1 ,1887
“ ’5ÓÒ
1867
2d mortgage, income........................- - ....................
N.Y., Bank of America.
1885
10
174,400
Hatches Jackson A Columbus.—1st mortgage............
Bridgeport, Com;.
J. A J.
Jan. 3, 1887
5
2,000,000
‘ ifìfì
Naugatuck—Stock........................................................
J. A D Bridgeport, Treasurer. June 1, 1913
4
150,000
1883 ljOOOtfefì
Bonds............................... .........................................
2»s M. A S. Piiiladelpiiia, Co.'s odice Mar. 1, 1887
1,400.000
AO
Nesquehoning Valley—Stock.. . . . . . . . . . . . - 6 g. A. A O. Last paid April. 1884 Out. 1, 1904
750,000
1,000
1879
Nevada Central—1st mort., gold (sink. I., $20,000)
N. Y.L. E. A W. RR.
Sept., 1901
M. A S.
7
250,000
1,000
1871
Newark A Hudson—1st mortgage........... ..................
800,000
7 g. M. A N. N. Y., Union Trust Co. Nov. 1. 1 8 8 »
1869 500 Ao.
Newark Somerset A Straitsv., O.—1st mortgage. —
1977
1,164,500
1877
NewburgDutchess A Connecticut—Income bonds...
J. A J. N.Y.,Office N.Y.L.E.AW J a n .1, 188»
7
250,000
1,000
1863
Newburg d New York—1st mortgage........................
Newcastle, Penn.
Apr. 2, 1887
Q.—J.
6
50
700,000
New Castle d Beaver Valley—Stock..
.
ycAnV
M. A S. N. Y. Central Trust Co Sept. 1, 1928
6
(t)
1885 1 000
New Sngland d Southwestern—1st M. ($6,000,000).
Various N. Haven, Meoh. Bank. 1888 A 1900
7
525,000
68*70
New Haven d Derby—1st A 2d mortgages................
New Haven.
Oot., 1878
3
2,460,000
100
New Haven d Northampton—S t o c k ..... . . . . . . . . . . . . .
do
do
Jan., 1899
J. A J.
7
1,300,000
1,000
1869
Mortgage bonds,coupon........... .
N.Hav.
(N.Tradesm’s
Bk
A.
A
0.
Apr.l
’91 A ’98
6
A
7
260,000
1,000
1870
Holyoke A W.,leased. 1st M. ($200,000 guar.). . . . ..
do
do
April, 1, 190»
A. A O.
6
1,200,000
1,000
1879
Consol, sink, fund $15,000 per yr..& mort. bonds.
April,
1911
do
do
A.
A
O.
5
700,000
1,000
27 1881
Northern Extension........................ .......... .... - -.
do
do
July 1 , 189«
J. A J.
5
700,000
1,000
1886
Convertible bonds for extension to Shell). Falls...
New
York
Agency.
Feb.
1,
1 »8 «
F.
A
A.
4
3,00<>,000
1,000
1886
New Jersey Junction—1st mortg. coup, or reg. guar.
M. A N. N.Y., Mercantile Tr. Co. May 1, 1910
6
400.000
30 1880 soo&e.
New Jersey d New York—1st mort. (reorganization)
In October. 1886, tills company purchased the Tenn. Coal & Iron RR. ! $130,000 per annum. In Se pt.. 1884. the lease was modified so as te
pay 5 per cent a year only, and the stook has been extended for 20
paying for it $500,0JO in thirty-year bonds.
The company had nei income in the year 1885-86 of $144,931 over 1years, with a guarantee of 5 per oent per annum.
all expenses, but. paid no dividend; in Oot., 1886, resumed dividends
Nevada C entral.—(See Hap Union Pacific.)—Battle Mountain to
by payment of 1 p r cent.
Austin, 93 miles. Stock, $1,000,000. There are $250,000 8 per cent
For the ten months irom July 1, gross earnings were $2,273,976 in income bonds due 1905, whloh are held by the Union Paoiflo, as also
1886-7, agai st $1,337,612 in 1885-6; net, $961,696, against $728,767 $ <59 500 of the stock. Default was made Oot. 1,1884, on the bonded
surplus over mu, taxes and improvements, $283,840, against $123,961. interest, and receiver appointed Feb., 1885. Gross earnings in 1885,
68 062; net, $$2,879; defloit under interest, Ac., $42,120. Gross in 1886,
EARNINGS AND EXPENSES.
1985-8 6 $57,759; defloit, $2,624; defloit under interest, $47,624.
1883-84.
1884-85.
1882-83.
N ew ark & H u d so n .—Owns from Bergen Junotion to Newark,
$
$
$
Namings—
$ _
604.820 N. J., 6 miles. Leased to New York Lake Erie A Western at a rental
649,737
663,618
Passenger........ ................
621,171
F reight............................ 1,513.875 1,559,765 1,435,878 1,429,468 of $33,000 per annum, which pays interest on bonds and 7 per oent
155,104
153.821 on the stock of $250,000. Cortlandt Parker, President, Newark, N. J.
148,703
Mail, express, rents. Ao..
146,477
N ew ark Somerset A S traltsvllle.—Owns from Newark, O., to
Total gross earnings.... 2,283,523 2,372,086 2,240,719 2.183,109
Total operating expenses. 1,274,855 1,303,446 1,304,002 1,322,858 Shawnee, O., 44 miles. Road was completed in 1871. Leased to Sandusky
Mansf. A Newark for 14 years from Jan. 1,1872. Operated by the Balt.
865,251 A Ohio, which pays 30 per cent of gross earnings, and advanoes any
936.717
Net earnings.............. 1,008,668 1,063,640
00-45 additional amount necessary to meet the interest on the debt. Capital
58 01
55*80
54-94
P. o. operat’g ex. to e’rn’gs
stock, common, $795,400, and preferred, $218,200. Gross earnings in
INCOME ACCOUNT.
1882-83, $164,781; net, $19,511; loss to lessee, $29,922. In 1883-84»
1885-86. gross $168,532; net, $757; loss to lessee, $49,802. In 1884-85, gross»
1883-84. 1884-85.
1882-83.
$
Net Receipts—
$
$
$
$118,430; defloit, $39,102; loss to lessee, $64,631.
865,251
936,717
Net earnings.................... 1,008,668 1,068,640
N ew burg Dutchess A C onnecticut.—Owns from Dutchess Juno.
11,947
29,072
77,247
Miscellaneous receipts...
N. Y „ to Millerton, N. Y., 59 miles. The Dutchess A Col. RR. was sold
Aug.
5.1876, and this company was organized Jan. 8,1877, by the pur­
948,664
865,251
Total inoom e............. 1,085,915 1,097,71.2
chasing bondholders. In addition to above incomes, there are $150,000
Disburse//»eats—
$
$
$
$
1st
mort.
7s, due in 1907. In 1884-85, gross earnings $131,923;
675,096
650,972
662,320
682,273
Interest on debt A taxes.
net, $13,864; defloit under interest, Ac., $2,511. In 1885-86, gross.
266,802
106,017
58,401
45,221 $143,418; net, $28,276. The oommon stock is $172,000 and preferred
104,465
Improvements..................
stook $715,350. John 8. Sohultze, President, Matteawan, N. Y.
755,437 1,035,199
740,674
720,317
Total disbursements.
N ew burg A N ew Y o r k .—Owns from Vail’s Gate Junotion to
207,990
144,934 Greenwood Junction, N. Y., 13 miles. Leased October 5,1866, to Erie
330.478
62,513
Balanoe, surplus...............
RR.,
at $17,500 per annum (being interest on the bonds),and operated
GENERAL BALANCE AT END OF EACH FISCAL TEAR.
1883-84.
1834-85.
1882-83.
1885-86. now by New York Lake Erie A Western. Has no stook.
$
$
Assets—
$
$
N ew Castle A B eaver V a lle y.—Owns from Homewood, Pa., to
Road and equipment....... 16,194,823 16,316,655 16,950,242 17,09 4,876 New Castle, Pa., 15 miles. Road in operation slnoe 1860. Leased to
352,876
562,727
*81,322
75.7)8 Pittsb. Ft. W. A Chic. RR. for 99 years at a rental of 40 per cent on gross
Assets not available.......
472,590
462,940
481,314
I nv’tm’ts in st’ks A bonds
478,7 L4 earnings. Lease transferred to Pennsylvania Company. There is no debt.
13,132
8,722
8,387
1H,0«7 In 1879.13 per cent dividends were paid; in 1880, 13 p. o .; in 1881, 24
Bills receivable................
84,864
62.461
80,334
67,961 p. c.; in 1882,14 p. o.; in 1883, 29 p. o; in 1884,19 p. o.; in 1885,10 p. o.;
Real estate........................
196,988
188,919
250,436
Due from agents, Ao.......
277,3 72 in lc8 6 , 6 p. c. Gross earnings in 1865, $171,682; rental received, $68»Gash..................................
325,006
300,217
264,408
311,038 672 ; gross in 1886, $207,214; rental received, $82,855.
New E n glan d A Southw estern.—This road, as projected, will
Total........ ..................
920,544 18,108,314
exteud from Brewsters, N. Y. (junotion of New York A New England»
Liabilities —
$
$
$
$
New
York A Harlem and New fork City A Northern), to and across the
Capital s to c k ................ 6,670,331 6,670,331 6,668,363 6,663,362
Bonded debt..................... 15,757,000 8,903,000 8,998,000 9,200,000 Hudson River by bridge at Storm King, to a connection with the Erie»
Bills payable....................
697,132
591,499
238,047 West Shore, New York Ontario A western and the Lehigh A Hudson
467,268
Bal’ce due individ’ls, &o.
140,327
97,343
42,947
31,092 railroads on the west side, making 26 miles of road in all The com­
Int’st coupons due July 1
283,740
287.970
290,905
290,905 pany was formed by act of the New York Legislature of 1850, as
Dividends. .. .............. .
lb ,082
21,942
18,323
17,048 subsequently amended, and the act of 1880, chapter 182, and claims
Pay-rolls, A c....................
66,256
75,490
72,721
85.152 the rignt to bridge the Hudson. The stock is $3,000,000 and the bonds
Int’st on b’ds held by U. 8.
153,600
153,600
153,000
153,600 $6,000,000, which stock and bonds are taken by the Phoenix Bridge
Miscellaneous.................
8,899
3,636
15,119
13,016 Company of PUoBnixvllle, Pa., and they have contracted to build the
Profit and loss.................
948,167 1,115,678 1,381,068 1,571,014 structure within two years.
N ew H av en A D erby.—Owns from New Haven, Conn., to Ansonia»
Total........................... 17,635,534 17,920,544 18,108,314 18,324,836
Co'itn, 13 miles. Capital stook is $446,600, of which New Haven oltf
owns
$200,000. New Haven City guarantees the $225,000 seoona
* $502,749 was charged off to “ Road and Equipment” during the year.
mortgage bonds, and has a claim o f about $300,000 for money ad­
—(V. 42, p. 125. 272, 397, 519, 631, 753; V. 43, p. 132. 245, 334, vanced. Negotiations have been pending between the company and the
8 6 7 , 459, 487, 608, 733, 746; V. 44, p. 118, 244, 370, 527, 653.)
city for an adjustment. Gross earniuga in 1884-5, $150,737; net.
N a s h v ille & D e c a tu r .—(See Map Louisville A Nashville.)—Owns $63,792. In 1883-84, gross, $158,206; net, $65,023.
from Nashvilie, Tenn., to Decatur, Ala., 122 miles. The road was
N ew H a v en A N orth am pton .—Operated from New Haven«
leased May 4, 1871, to the Louisv. A hashv. RR. for 30 years from Conn., to North Adams, Mass., 123 miles; branches—Northampton to
July 1,1872, at a rental of 6 per cent per annum on the stock. The' Williamsburg, 8 miles; r armiugton Conn., to New Hartford,Conn., 14
lessee assumed all the debt o f the Nashville A Decatur Co. In 1882-83, miles; South Deerfield to Turner’s Falls, 10 miles; to Tariffvllle, Conn..
gross earnings. $i,034.231; net. $380,207. In 1834-85 gross, $1,061,- 1 mile; leased—Holyoke A WestfieldRR., 14 miles; total, 170 miles.
966; net, $466,168; interest and taxes, $291,061; surplus, $175,106.
In April, 1861, a controlling interest in the stock was sold to New York
New Haven A Hartford parties. In 1664-85 gross income was $804y
N a tch e z J a c k s o n A C o lu m b u s .—Owns completed road from 099; net, $275,704; surplus over charges, $9,230. In 1885-6, gross in­
Natchez, Miss., to oacitson, Miss., 100 miles. Stock, $2,260,809. New come, $842,509; net, $292,218; surplus, $10,384. (V. 43, p. 132.)
6 per cent bonds for $600,000 authorized but very few issued. FloatN ew J ersey J u n ction .—»Terminal road through Jersey Oity, Ho.
tag debt Dec. 31, 1884, $329,493. Earnings for 1886, gross, $184,boken aud Weehawken, connecting the trunk lines terminating at those
325; net, $45,634. Earnings for 1885, $194,358; net, $60,923.
points. Leased for 100 years from June 3 0 ,1«86, to tne N. Y. Central
N * nS » t « e k . —Owns from Naugatuck Junction to Winsted, Conn., A H. R. RR. Co., which company guarantees the bonds absolutely and
. i SS*®8.; leased. Watertown A Waterbury RR., 4 1« miles; total oper­ owns the stock of this company. The mortgage is for $4,000,000.
ated, 66 miles, 5 miles of New York New Haven A Hartford being used
N ew Jersey A N ew Y o r k .—Owns from Erie Junotion, N. J., to
between Naugatuck Junction and Bridgeport. Earnings for three years
Point, N. Y., 31 miles; Nanuet to New City, 5 miles; Hackensack
past were aB follows: 1883-84, gross, $676,714; net, $225,615; 1884- Stony
Erie Junotion, 6 miles. Leased—Garnervllle RR., 1 mile; total oper­
85. gross. $651.242; net. $213,262; 1885-86, gross, $704,336; net, to
ated,
37
miles. The nresent company was formed on reorganization
$*•“ 4,0X2. (V. 43, p. 718.)
after foreclosure in April, 1880. Stock outstanding, $1,440,800
.
n ® h o ilin g V a lle y .—Owns from Nesquehoning June cion. Pa., oommon; $. 67,800 preferred. In January, 18.86, the Hackensack RR.»
V* i ®me“ eild, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansfoi d previously leased, was consolidated icto this comp ny. Gross earnings
QQ<wioL,t +tal^>i)ei at®^; 18 miles. Opened in 1870, and was leased in 18c6, $185,406; expenses, $139,753; net earnings, $45,6(3. (Y.
for 999 years to the Lehigh Coal A Navigation Co. at a lease rental f 43, p. 215, 597, 753; V. 44, p. 621.




74

INVESTORS’

SUPPLEMENT.

[V ol.

X L lv.

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In tbese Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation o f column headings, Ac., see notes of
Cent. Payable
Whom.
Road. Bonds Value.
Dividend.
on first page of tables.
Jf. J. Southern—1st mort. (lnt. guar, by N.Y.A L.B.)
Long Branch A Sea Shore. 1st mort., guar............
A ew London Northern—Stock....................................
1st mortgage bonds..................................................
2d mortgage..............................................................
Consol, mortgage (for $1,500,000)..........................
Newport Newa <&Mississippi Valley—Stock...............
New Orleans <t Gulf—1st m ort, gold........................
New Orleans &Northeastern—Prior lien mort., gold.
New York Brooklyn dt Manhattan Beach—Stock . ...
N. Y. & Man. Beach RR.. 1st mortgage.................
N.Y. B.AM.B., 1st consol, mort., gold .................
N. Y. dt Canada—1st M., sterling, guar. D.& H. Can
New York Central <&Hudson Hiver—Stools................
Premium bonds (N. Y. Central) ext. 10 y ’rs, ’83..
Renewal bonds
N. Y. 0. & H., J $30,000,000 l C0Ut)0n or reK 1
m ortgage... i «2,000,000 5 C0UP°n or reR- 1
Debenture bonds iror *iu,w u,w ui,cuuy. ox- reg..
N. Y. Chicago dt St. L —Stock ($22,000,000ispref.
1st mortgage, gold, coup, or reg.............................
2d mortgage (for $10,000,000)..............................
N. Y. City dt N orthern -General mort.......................
N. Y. Danbury dt Boston—1st mortgage..................
New York dt Greenwood Lake. 1st mort., income .
2d mort., income.....................................................
New York dt Harlem—Common stock.......................
Preferred stock........ ................... ----- ................Consol, mort., coup, or reg., (for $12,000,000)...
N. Y. Lackawanna a Festem.—Stock, guar., 5 p.ct
1st mortgage, coupon, may be registered
2d mort., guar, by Del. Lack. & west.......

78
100
100
100
121
68
14
All.
150
993
840
840
523
513
513
62
50
40
156
156
132
213
200
200

$600 $1,449,600
200.000
1,000
100
1,500,000
300,000
1865 100 Ao.
387,500
1872 500 Ac.
1,000
812,000
1880
100 11,660,000
1,000
800,000
1886
1,372,000
1,000
1885
1,000,000
500,000
1877 500 Ac.
1,000.
798,000
1885
4,000,000
1874 «10 0 Ac
100 89,428,300
6,450,000
1853 500 Ac.
1,000
2,391,000
1854
1,000 30,000,000
1873
9,733,333
1,000
1873
1884 l.OOOAc 7,850,000
100 50,000,000
1,000 15,000,000
1881
1,046,000
1,000
1883
4,000,000
1880 500 Ac.
1,000
1886
(f)
900,000
1875 100 Ac.
1,800,000
100 Ac.
8,618,500
50
1,381,500
50
1,000 12,000,000
1872
100 10,000,000
1,000 12,000,000
1880
5,000,000
1,000
1883
1
1879
1869

July 15, 1899
Dec. 1, 1899
ipril 1, 1887
Sept., 1885
July, 1892
July, 1910

7
5 g.
6 g.
1
5
6
7
6 g5

J. A J. N. Y., 119 Liberty St.
J. A D
New York.
Q .-J.- New London, Office.
A. A O- N. Y., B’k of N. America
J. A Ddo
do
do
do
J. A J.
....
M. A N. New York, Agency.
A. A O. New York, Agency.
....
J. A J. N. Y., Corbin Bank’g Co
A. A O.
do
do
M. A N. London, Baring Bros.
Q .-J . N.Y., Gr. Central Depot.
M. A N.
do
do
J. A D.
do
do
J. A J
do
do
J. A J. New York and London.
VI. A S. N.Y., Gr. Centr’l Depot.

6 g.
6
6
6
7
7
2 C. L.
2 C. L.
7
1*4
6
5

J. A D.
Last paid Dec.,’84
M. A S.
Last paid Mch. ’85
M. A N.
Last paid Nov. ’81
A. A O.
New York Agency.
F. A A. New York, Co.’s Offioe.
M. A 8.
do
do
J. A J. N.Y., Gr. Central Depot.
J. A J.
do
do
M. A N.
do
do
N. Y. by D. L. A W.
Q.—J.
J. A J.
do
do
F. A A.
do
do

Dec. 1, 1921
Màr. 1, 1923
May 1. 1910
1926.

6
7
l*a
6
7
5
6 g.
6 g.

Nov. 1, 1926
Nov. 1, 1915
Jan. 1, 1897
Oct. 1, 1935
May 1, 1904
Apr. 15,, 1887
May 1, 1893
Dec. 15, 1887
Jan. 1, 1903
Jan. 1, 1903
Sept. 1, 1904

April 1, 1887
April 1, 1887
May, 1900
April 1, 1887
Jan. 1, 1921
Aug. 1, 1923

by MivW H. Vanderbilt at the price of 120, and 100,000 shares sold
afterwards. Dividends of 8 per cent per annum haa been paid sinoe
1868, but in 1885 only 3*2 per cent was paid, and in 1886. 4. Prices of
stock since 1870 have been: In 1871, 8414® 103^ ; in 1872, 89® 101 f«:
in 1873, 7778®1061« ; in 1874, 9578@105%; In 1875,100® 1073s; in
1«76. 96@117*a; in 1877, 8514® 10914! 1878, 103%®115; in 1879,112
® 139; in 1880,122®1553e; in 1881,130*4®155; in 1882,1235a®138;
in 1883,111*2® 12918; in 1884, 83*2*122; in 1885, 81%® 107*4; in 1886,
98%® 117%; in 1887 to May 20, 110*114%
The debenture bonds of 1884 must be included in any new mortgage
issued prior to 1902.
Operations, Finances, Ac.—The New York Central & Hudson
River RR. has an exceptionally rioh local traffio, but the profits also
depend very much upon harmony among the trunk lines.
In Dec., 1885, a lease of the West Shore Railway was taken for
475 years and the bonds of $50,000,000 at 4 per cent guaranteed, by N .
Y. C. & Hud., and $10,006,000 West Shore stock taken as consideration.
For the quarter and six months ending March 31,1887, returns were
as follows :
Quarter ended Mar. 31. Six Months ended Mar. 31
1887.
1886.
1886-7.
1885-6.
Gross
earnings
.
.
.
.
$8,089,351
$7,342,201 $17,110.607 $14,218,802
907; dividend (6 per cent), $90.000; surplus, $38,337.
4,756,361 16,967,641
8,891,569
N ew port N ews Sc M iss. V alley.—This is the company formed Operating expenses 5,508,895
to lease and operate all the Huntington lines between Newport News,
Net earnings... $2,580,456 $2,585,840 $6,142,963 $>,327,233
Va., and New Orleans, La. In Dec., 1886, this company owned $5,579,1,926,000
3,914,400
3,393,000
600 Cbes. Ohio & Southwestern common, and $3,442,000 preferred First charges.......... 1,957,200
stock, $1,055,500 Elizabethtown Lexington & Big Sandy RR. stoek,
$623,256
$659,840
$2,228,563
$1,934,233
Balance...................
and $1,650,000 Chesapeake & Ohio bonds of 1918. Company
891,283
894,283
1.788,566
1,788,566
leases the three roads mentioned, aggregating 1,040 miles, the Div. pd.,(l p. c. qr.)
former for 50 years and the latter two for 250 years, agreeing to
Balance........... def.$271,027 def.$234,413 sur.$439,997sur.$ 145,667
pay the expenses, interest and fixed charges so far as net earnings
suffice, in the order of their priority, any surplus up to 6 per cent to be
Annual report for 1885-6 in Chronicle, V. 44, p. 58.
divided to lessor companies, and the excess retained by the lessee. Year
Net Income, DiviGross earnings in 1886, $6,746,903; net, $2,211,978. Gross in 1885, ending Passenger Freight (ton)
Gross
over exp., dends,
$5,638,856; net, $1,765,131. Registrar of stock, Metropolitan Trust Sep. 30. Mileage.
Mileage.
Receipts. int.A rents, p .c. Surplus
Co New York. Offices of Co., No. 23 Broad st. and New Haven, Conn. 1882.432,243,282 2,394,799,310 $30,628,781 $5,743,904 8$*1,401,608
—(V 43, p. 547; V. 44, p. 90, 344, 466.)
1883.429,385,561 2,200,896,780 33,770,722 7,327,156 8
179,024
N ew Orleans Sc G u lf.—The line of the road is from New Orleans 1884.387,829,886 1,970,087,115 28,148,667 4,668,759 8 *2,490,885
1885.438,397,774
2,137,824,205
24,429,441
2,176,342
3*2
*953,651
south along the Mississippi River to Point-a-la-Hache, with a branch,
making 68 *s miles in all, of which 30 miles were operated in 1885. The 1886.476,128,729 2,414,266,463 30,506,362 4.650,100 4 1,072,968
* Deficit. In 1881-5 total deficit was $2,295,072.
bonds were offered in London, Nov., 1886, by Messrs. Satterthwait &
—(V. 42. p. 22.198, 217, 519, 631; V. 43, p. 5, 23, 399, 74 5 ; V. 44, p.
Co. (V. 43, p. 634.)
N ew Orleans Sc N ortheastern.—Line of road from New Orleans, 22 58 212 370.)
N ew Y o r k Chicago Sc St, L o u is.—Buffalo, N. Y., to Grand Cross­
La., to Meridian, Miss., 196 miles. Stock is $5,000,000. This road be­
longs to the so-called “ Erlanger System,” and of the stock $4,320,000 ing, 111., 513 miles; leased in Buffalo l*a miles; Grand Crossing to Chi­
and $4,900,000 of the $5,000,000 first mortgage bonds are held by the cago 9 miles; total, 523 miles. This Company was formed in 1881 and
Ala. N. O. & Tex. Pacific Junction Co. (See title of that company in the became known as the “ Nickel Plate.”
In January, 1887, the Common Pleas Court at Cleveland, O., gave
Supplement.)
N ew Y ork B ro o k ly n Sc M an h attan B ea ch .—From Fresh judgment against the validity of the first mortgage, owing to the
Pond Junotion to Manhattan Beach, and branches to Bay Ridge and methods in which the bonds were negotiated by the directors, and
Greenpoint, 20 miles. This was a consolidation Aug. 27,1885, o f the N. ruled in favor of the second mortgage. The proposed settlement was
Y. Bay Ridge & Jamaica RR., the N. Y. & Manhattan B. Railway Co. given in V. 44, p. 211, viz.: That a new $20,000,00o mortgage be issued,
and the L. I. City & Man. B. RR. Co. The railroads are leased for 99 bearing 4 per cent, running till 1937, and these bonds be given to the old
years from 1882 to the Long Island RR* Co. at 35 per cent of gross mortgage bondholders at 112 for firsts and 110*2 for seconds; the old
earnings, but the rental guaranteed to be at least $95,980 in each year. stocks are assessed 10 per cent, and then receive new preferred and
Of the stock $650,000 is preferred for 5 per cent, but not cumulative. common stock respectively for 50 per cent of the face of their old stock;
new first preferred stock for $5,000,000 is issued for the cash assess­
—(V. 42, p. 215, 479; V. 43, p. 125.)
N ew Y o r k Sc Canada.—Owns from Whitehall, N. Y., to Rouse’s ments paid. Bale in foreclosure took place May 1 9 ,1887.
For the six months ending March 31 the returns were as foilows:
Point, N. Y., 113 miles; branches: Ticonderoga, N. Y., to Baldwin,
N. Y., 4 miles; Plattsburg, N. Y.. to Ausable, N. Y., 26 miles; West Gross earnings, $2,460,368 in 1886-7, against $1,905,299 in 1885-6; net,
Chazy to Province line, 13 miles; total operated, 150 miles. The whole *905.649, against $676,680; balanoe over rents and taxes $714,348,
line was completed Sept. 18,1876. The road is leased and virtually against $470,481.
For the year ending Sept. 30 the reports to the New York State Comowned by the Delaware & Hudson Canal Company, whioh guarantees the
1885-86.
1884-85.
bonds. The stock is $4,000,000. Earnings 1885-86, gross $772,664; missioners showed :
$3,111,729
net, $268,811; surplus, $32,305. In 1884-85, gross, $613,572; net, Gross earnings.......................................$3,595,169
Operating expenses............................. 2,417,817
2,307,820
$203,781; loss to lessees, $62,847.
N ew Y o r k Central Sc H u d so n .—Line of R oad .—Owns from
Net earnings.......... ..........................$1,177,352
$803,909
New York City to Buffalo, N. Y., 442 miles; branches on New York
415,066
308,151
Central division, 307 miles; total owned, 749 miles; lines leased— Rentals, taxes, Ao. (no int. on rnortg.).
West Shore RR., 426 miles, and branches, 22 miles; Troy & Greenbush,
Surplus........................................... $762,286
$495,758
6 miles; Niagara Bridge & Canandaigua, 98 miles; Spuyten Duyvil &
Port Morris, 6 miles; New York A Harlem, 127 miles; Lake Mahopac, 7 —(V. 42, p. 60, 125, 156, 187, 215, 243, 339, 463, 604, 728, 782; V.
miles; total, 684 miles; grand total, 1,443 miles. The second track 43, p. 163, 334, 459, 608, 774; V. 44, p. 60,118, 211, 212, 244, 276,
owned and leased is 873 miles; third track, 318 miles; fourth track, 278, 308,335, 344, 466, 495, 527, 653.)
N ew Y o r k City Sc N orth ern .—Owns from 157th Street in 8th
299 miles; turnouts, 758 miles—making a total of 2,406 miles of track
owned by the oompany, and 1,282 miles leased, 3,688 miles in all. Avenue, New York City (connecting with Metropolitan Elevated), to
Also operates the Dun. All. Val. & P. RR., 104 miles, but reported sep­ Brewsters, N. Y „ and branch, 54 mues. This company was organized
arately. The West Shore R’way was leased in Dec., 1885, for 475 years. March 1,1878, and acquired the N. Y. West. & Putnam (formerly the
Organization, &c. -This company was formed by a censolidation N. Y. & Boston Railroad), sold in foreclosure March, 1876. The com­
of the New York Central and the Hudson River railroads Octobei pany in May, 1880, leased the West Side & Yonkers road for 999 years,
1,1869, The New York Central was a censolidation of several roads and the consolidated mortgage was issued to take up all the other bonds,
under a special law of April 2,1853. The Albany & Schenectady Rail­ of whioh $264,000 under a prior mortgage were outstanding March,
road, opened September 12,1831, as the Mohawk & Hudson, was the 1887. Stock is $2,990,000. Default was made May 1,1882, and foreclos­
first railroad bunt in the State of New York. The Hudson River Rail­ ure is pending. In April, 1887, a proposal was made to bondholders as
per statement in the Chronicle oi April 16. (V. 44, p. 499.) Mr. Joel
road was chartered May 12,1846, and road opened October, 1851.
Stock and Bonds.—The famous scrip dividend of 80 per cent on the B. Erbardt. receiver. Gross earnings In 1885-86, $523,351 ; net, $ l l l r
capital stock of the New York Central was made in December, 1868. 192 ; interest, rentals and taxes, $254,120 ; def. for year, $142,928.
ana on the consolidation with the Hudson River road (Nov. 1,1869) a Gross earnings for the quarter ending March 31 were $125,039 in 1887,
further dividend of 27 per cent was distributed on the New York against $115,476 in 1886; net, $4,859. against $19,103; deficit under
Central stock and 85 per cent on the Hudson River stock. In Nov., fixed charges, $60,041, against $44,222. ^¿V. 43, p. 547; V, 44, p. 90,
1879, 250,000 shares ($25,000,000) were sold to a syndicate o f bankers 211,235,370, 499, 586.)

N ew Jersey Southern.—The road extends from Port Monmouth,
Bandy Hook, to Atco, 70 miles, with branch from Eatontown to Pt. Mon­
mouth, 9 miles. The property was sold in foreclosure March 31,1879 (see
Chronicle, Y. 28, p. 352), and the present company was organized July
25,1879. The capital stock is $1,590,600. The property is subject to
$120,000 on the Tom’s River RR. and $200,000 on the Long Branch &
Sea Shore Railroad. This latter bond is endorsed by the United
Companies of New Jersey. The above mortgage is for $1,590,600, of
which $1,449,600 have interest guaranteed by the New York & Long
Branch Railroad by endorsement of the bonds, and the Central of New
Jersey agreed to assume those bonds. The road is operated as a
part of the Central New Jersey system. Suit was brought in August, ’85,
against the Central of New Jersey Co. for interest overdue. Gross earn­
ings in 1885 $438,574; net defloit, $80,340. (V. 41,p. 189.)
N ew L on don N ortb ern .—Owns from New London, Conn., to
Brattleboro, Vt., 121 miles, of which 100 miles leased to J. G. Smith and
others. This road has been operated since Deo. 1,1871, under lease to
file Central Vermont Railroad; the lease was for 20 years at $150,000




RAILROAD

May , 1887. J

STOCKS

AND

BONDS.

7 5

S u b scrib e r» will c o n fe r a great fa v o r by giving Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Dat
When Due.
Amount
Par Outstanding
of
Rate per When Where Payable, and by pal,
For explanation of column headings, &c., see notes of
Stocks—Last
Road. Bends. Value.
on first page of tablee.
Cent. Payable
Whom.
Dividen u.
IF. T. Lake Erie d West.—Stock, common.............. .
Preferred stock............................... .....................
1st mortgage (extended in 1867 to 1897).............
2d mortgage, gold (extended in 1879)...................
3d mort., gold (extended 40 years at 4*a p. ot)....
4th mort., gold, (extended In 1880 at 5 per cent)
5th mortgage, convertible.................... ............. .
Buffalo Branch B onds........... .............................
Long Dock Co., old mortgage................................ .
do
mort., coup.,gold (for $7,500,000)
1st consolidated mortgage, gold............................
do
do
funded coupon bonds
N. Y. L. E. A w. reorganization 1st lien b’ds, gold
do
2d consol, mort., gold..............
do
income bonds (non-oum.)...........
do
fund.coup.bds (redeem, at 105 4c int.
Collateral Tr. bonds, gold, red’ble at 110.............
Car trust bonds (enly $600.000 are 6s)................
New York dLong Branch—Stock.............................
Mortgage bonds...... ..............................................
AT. r. <6 X. England—Stock ($20,000,000 auth’rizeJ)
Preferred stock, 7 per cent cumulative................
1st mortgage ($6,000,000 are 7s)...........................
2d mortgage ($3,341,000 are 6s)......................... .
Notes and debts for terminal property..................
Sew York New Haven d Hartford—Stock..............
Mortgage bonds, reg. (for $5.000,000)........... .
Harlem A Portchester, 1st mortgage guaranteed,
do
do
2d M., coup, or reg., guar..
Hew York Ontario d Western—Common stock.........
1st M., gold, for $4,000,000 (redeemable at 110)..

1,660
1,660

38
380
321
321
257
123
12

12

321
321

$100 $77,303,700
100
8,147,400
6
Yearly.
1,000
1847
2,482.000
7
M. A N.
1,000
2,149,000
1879
5 g. M. A 8.
1,000
1853
4,618,000
4iflg. M. A 8.
1,000
1857
2,926,000
5 g- A. A 0.
709,500
7
1858 500 Ao.
J. A D.
1861 100 Ac.
182,600
7
J. A J.
1863
1,000
3,000,000
7
J. A D.
1885
1,000
4,500,000
6 g. A. A O.
1870
1,000 16.890,000
7
M. A 8.
1878 500 Ac.
3,705.977
7 g. M. A 8.
1.000
2,500,000
1878
6 g. M. A N.
1878 500 Ac. 33,597,400
6 g. J. A D.
1878 300 Ac.
508,008
6
J. A D.
1,000
1885
4,032,000
5
J. A D.
1882
1,000
4,273.000
6 g M. A N.
5,612,000
6A 5
....
2,000,000
3Lj
A. A O.
__
1882
1,500,000
5
J. A D.
19,313,000
....
1,900,000
3>a
1876
1,000 10,000.000
6 A 7 J. A J.
1882
1,000
4,361,000 3, 5 A 6 F. A A.
....
1882
1,646,532
4
Various
100 15,500,000
2ia
Q .-J .
1833 1,000Ac
2,000,000
4
J. A D.
1873
1,000
2,000,000
6 A 7 A. A 0.
1881
1,000
1,000,000
4
J. A D .
58,113.982
1884
1,000
2,927,000
6 g. M. A 8.

N.Y., 19 Cortlandt St.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New York and London
do
do
do
do
Coupon of J une,’86, off.
Last paid Dec. 1883.
New York ¿ London.
N. Y., 119 Liberty St.
Boston.

May "2,1887
Jan., 1905
Aug. 1,1902
1886-92
A prili, 1887
June 1, 1903
1903
June 1,1911

Boston.
Boston
do
do
do

Jan. 15,1884
May 1, 1897
Sept. 1, 1919
Mar. 1, 1923
Oct. 1, 1920
June 1, 1888
July 1. 1891
June, 1893
Oct. 1, 1935
Sept. 1, 1920
Sept. 1, 1920
Dec. 1, 1908
Deo. 1, 1969
June 1, 1977
Deo. 1, 1969
Nov. 1, 1922
1887-1892
Oct., 1886
1923

do
do
do

New York

Sept. 1, 1914

.■». x . v a u n u r y ec n u a iv n .—.noau projected rrom rsroux Klver.
a standard gauge system. The income account for
N. Y., to D.mbur.v, Conn., 50 miles, double track. Co itraetto finish road in 1878 has become
showed a considerable surplus over fixed charges, but in
in one year let to Homan Clark. Bonds of $2,000,000 taken by a syndi­ .188J'84 the inoome
off largely, and there was a dettoit below the
cate. This is the road named as the conneciug line of the N. Y. & New interest requirements,felland
coupons, June, 1834, to Juno, 1885
England, meeting the Suburban Rapid Transit also at Bronx River. on the 2d consol bonds, werethree
passed.
Stock is $3,000,000. The directors are as follows: F. A. White, Pres.;
Some
of
the
holders
of
car
trust
bonds have relinquished their risrlit
R. M. Hazard, J. L. Macaulay, D. C. Calvin. Geo. S. Scott, Wm. P. Wat
a° ? ual drawings of principal, and 90 per cent of the holders agreed
sou, Chas. II. Capen, John C. Shore, Robert Blake, Theo. Talbot. (V. J®
to reduce tlxcir interest to 5 per cent, but other holders obtained a de­
43, p. 103, 635, 6/1.)
cision sustaining their original contract.
New Y ork 4c Greenwood L ake.—Owns from Jersey City, N. J.,
8i xQ??on*b8 cubing March 31 g oss earnings were $11,681 to Greenwood Lake, 48 tulles; branches — Ringwood Junction to
Ringwood, 2 miles: North Newark to Orange, N. J., 8 miles; total, 58 ot via i «'q6 '87, aikSt' ^10*342.331 1q 1885-86 ; net, $3,569,211, against
miles. Tins was the Montclair Railroad, opened In 1874. It was sold $19l5d24968: 8Ul’pIUS ° Ver flxed obai‘Ses $263,416, against a dettoit of
and reorganized as Montclair A Greenwood Lake, and again sold
The annual report for year ending Sept. 30, 1886, published in tne
October 12, 1878, and the present company organized. The New York
m ttte
Lake Erie & Western purchased a controlling interest In the property Chronicle, V. 43, p. 643 and 669, had the following:
OPERATIONS AND FISCAL RESULTS
bow operate tfc. The holders of the second mortgage bonds nave
a right to pay off the first mortgage bonds of $900,000 at 105, and thus
Operations*—
1892-83.
1883-84.
1884-85
1895-8«
gain control of the property. The stock is $100,000. Gross earnings in Passengers carried..
6,934,724 6,734,045 7,209,054
7 727 051
1395, $188,474; net, $21,514; other changes, $19,149. Abram S. Hewitt,
ea*e 247,147,117 235,105.058 250,635,115 251U37487
President.
Freight (t°ns) moved 13,610,623 16,219,598 14,959,970 18 668 239
York 4c H a rle m .—Owns from New York City to Chatham, Freight (tons) mil’ge 2306946892 2408888976 2331778927 2832311126
N. Y., 127 miles. From Chatham to Albany, 24 miles; the Boat. & Alb.
* Figures of traffic do not include coal and supplies.
KK. is used. This company owns the Fourth Avenue street railroad
Burnings—
$
$
8
«
The property (except the horse railroad) was leased April 1,1873, lor
401 years, to the N. Y. Central & Hudson River RR. at 8 per cent d iv ­ Passenger....................
4,632,229 4,675,872
3,936,793
4 393 812
idends on the stock and the interest on the bonds. The Fourth ave horse Freight...................... 17,213,621 15,773,004 13,813,249 lfi’8 ) 4’908
956,396
1,188,559
ljm ls s o
l ’i i x ’32«
railroad was retained, and extra dividends are paid out of its receipts Mall,expr’s,rents,&c.
annually in April. Ail operations of the main road are Included with
those of the N. Y. Central & Hudson.
Total gross eam’gs. 22,802,246 21,637,435 13,934.572 22 500 04«
. New Yorfc Lack aw an n a 4c W e s t e r n .—(See Map o f Del. Lack. Operating expenses.
15,444,583 16,358,077 14,347,516 16,388i633
¿ ^ ‘‘ rnton to Buffalo and International Bridge and
branches, 214 miles; built under the auspices of Del. Lack & Western Vet earnings........
7,357,663 5,279,358 4,587,056
«1 1 1 408
64-78
69-52
69-79
66-97
Opened Oct., 1882, and leased to Del. Lack. A West, for 99 years?with P. o. op. exp.to cam ’s
a guaranty of the bonds and 5 per cent yearlv on the stock. The latter
b'-oflt
and
loss
inc’
udes
numerous
Items
and
refer
¿J written across the face of the certificates and signed by the D. encc should be made to the table in V. 43, p. 669. of w hiohX e totals
are
L. A W. officials. 8®Pt-30,1886, owed D. L. A W. for advances $782.770. as follows for the years ending Sept. 30.1883, 1884, 1885 and 1886:
New Y ork Lake Erie 4c W estern .—I jo f Road .—Jersey Citv
™
^
1883.
1884.
1885.
i
s
a
«
hnr»
bran°kes—.rlermont, 18 miles; New$6,356,983 $5,589/748 $7 057 a«o
bar*- i ?
60 miles: Erie International. RR.. 5 miles • Total incom e.... $8,234,463
6,968,978
7,055,606
6,966;691
7,043,258
RidK©wood»10 miles; leased—Montgomery & Erie RR.’, Total debits*....
10 miles, Goshen & Deckertown, 12 miles; Newburg & New York
Surp.
or
deficit.
$1,265.485
def.$698,622
df.$l,376,943
Sur.$14,ail
13 miles; Paterson Newark. &N. Y., 11 miles; Hawley A Honesdale 24
* Includes full Interest on 2d oonsols each year whether paid or not
^ “ l» " I K
*
’ £ Uf- «rad. & P i t t s b u K d e S i o n , ’ 68
nuies, nuir. N. Y. & Erie, 140 miles; Suspension Bridge & Erie Junction
2?
Rochester & Genessee Valley, 18 miles; Avon Gen & Mount
& IS™’ 15
Rnf ^ Ud; i 15 ^ i e8:nPat- & Ram » 15 miles; Lockport

SSS! "■*■*«*■* ° “ * “” 1

™

mingdale RR., from Long Branfh to O ^an Bea??h’ 7 T » W 4 F ,a,L
N?dT.York Pennsylvania & Ohio 8ea
Girt RR., from Ocean Beach to Sea Girt s f New a r k
Bx-anch Extension RR., from Sea Gi rt tr> pnine SiJI
Long
h, on«
and under control of N. Y. Lake Erie & Wft«t o-qVa a Branch & Bamegat Bay E R ? from P oint Pleasant
total length, 38 miles. The Central RR n f w f t ntr t0 BayHead, 1;
Yorkto Chicago; but
Jority of the stock, and by contract of Jan. 3,1882 tIm8penn0lRRa
Central of N. J. agree to pay 32 p. ct. of gross traffic—$20« 6nnn
and
ApiRG2 4 ^ 3 2 ° ? L d ErtfcEH r i t A T ork & E™ RR. was chartered as
a minimum to $240,000as a maxiinun? WhenthePhiia
7ea]
^ t h t ’S V a f o ^
tke5?omTPba“ y $3’000’- the Central of N J., litigation was beguA to d e S i v e ^ Pennd
was reorganized mufer the namT of ErfeP RaUwa^Co June
further use of this rout©, but a compromise was made.
•EE. of
m o r t S ^ 1 8 af8WaTlfeldD?e8fii,tClc 8Ure cndertke seednd consolidated
New Y o rk * N ew E n i l . u d . - T l 6 .mlleeje 'owne(I l8 M
pos-essfonJunel i 878 Thft? X „ ° n m£a,n/
organized and took
owned bv the N Y L F / w . X S™ ock £ ° ‘ ha®.»took of $800,000, all
^ e r water, about577 acres,’’w it h p i^ b u ild in g f &°iiandS andlaads
bridge, Maas., 17 milm; E I™ «S a to D ed h ii, S l S i S i i “
^
nmierlease’ a n ^ ’o n ^ r aP'

SSSSS^SSST

^

ESS?

326 ^ l^ .^ L ea seci—F r a e k ^ 'to ’v'idley F^ie°
39 % ^ 527g; in 1882 33
i i ? * 880.’ 30®5 U «; in 1881,
in 1885, 9V @ 27V in ^ 8 6
ln 1884> H 16@2838;
35®e. Pref.—in 18878 ¿ . « qo . i
1887 to Ma.y 20, aiUe®
in 1881, 80^®96bi ■m i^|t38c7o^ j87 9’- 37io ? J 8l0: “ l 1880, 47® 93 is;
71: in 1885, 18®57-in
^I88’723,83 •
1884, 20®
The 1st consol, funded coutimi^hni^.^1 1887 to May 20, 65 *2«75*8.
.dated mortgage. On the npnnnT»™? if/«a^.e fecured by lien of consolican take p’ ace till six sueeM/S™ consolidated uiortgage no foreclosure,
coupon must be naid befnr?To oouPons are in default, but all of one
paid In 1883 the cofiaPl Ten«r
p1art of a. subsequent coupon is
Co. trustee; see V 38 n 5om I r w
? lssued (the U. «.T ru st
notice ; about $730 ooo worm
redeem ibie at 110 on three months'
funded’ co u ^ n bondS o 7 !^ 8w « £ e1med ?® v- 1885- The 2d consol,
coupons and the coSpfm of1June
Hdt
iund thre® Past due
security. Tnese bonds are S r , ?hi!’ a? d tbe coups are deposited as

^ f e iS ^
’

b0UlS UMer

INANCE8’ * c .-T h e company since its reorganization




8“ 2 S e7 S e2 8 " UO* " ' ,re

i

f

t

’a

a

p» * » > .« lm U e ,.’

i i s

s

s

owned8,

S i t f o i r S K 'R 6;

' s

s

r

™

have been demorabzed, and tbe N. Y & New
I™1" 0 “ te.
realized the full benefit of that extension. * ^ W England has not yet
receiver?ancTso reniaiuedtui
886 w h e n c e wasaP»olntedthe
to its owners. For the car trust’ bouds Vl . S ^ 6, ro¥ wa®returned

ancSfiLr ^ Isls^ O o b ^ ffiT f 4
Gross earnings tor tlx monthsfr¿m*0ch 1*1886 $2 018 «s? “ «Soi *
$1,816,0 (8 in 1885-86; net, $689,224, agam^t S S i í ’ 81’ agamst
a ’
’ —o —— ■.uuunuuj’ Ul
>o in lo s o .
Bee annual report for year ending Sept. 30 188« in v a o „
Operations, &c., for four years past w ere;
’
» in V. 43, p.

70

76
* ’*
INVESTORS’
SUPPLEMENT.
[V ol. x l i v .




RAILROAD STOCKS AND RONDS.

M a y , 1887.]

Î 7

"subscriber* w ill confer a great fAvoi by givin g im m ediate gotico o f any error discovered In tixen e Table«.
Bonds—Princi­
INTEREST OR DIVIDENDS.
pal, When Dae.
d e s c r ip t io n .
Miles Date Size, or
Amount Rate per When Where Payable, aud by Stocks—Last
Par
of
of
Outstanding
For exn! ¿nation of column headings, &o., see notes
Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
New York Penn. <6 Ohio—Prior lien bonds, g»id,$&£
1st mort., gold (no foreclosure till 1895,) $ As »
2d mortgage, incomes. $ & £ ...................
Sd mortgage, incomes, $ & £ .............. -- F. Y. Philo. <fi Norfolk—1st mortgage, gold
Income mortgage, non cumulative.. . . . - - F. Y. Prov. <t Boston—(Stonington)—Stook
first mortgage...................... .
-•••
1st mortgage (Stonington to New
•y
F Y.Susqiieh.it: Western—1st mort.. Midland of N. J.
Mortgage, gold, on Paterson Extension . . . . . . . . . .
New first mort., gold (2d M. on 72 m ile s )..........
N«w id mort. (for $ l,000,OoO)........- ................. -•
N. Y. Tex.»» Alex.—1st M.. gold.....................................
F.Y. Woodhavm <t Rockaway—1st mortgage, ooup .
Income bonds, non-oumulative, re g ...... . . . . . . . . .
Car trusts, secured by 1st mortga« e bonds. . . . . .
Niagara Bridge <t Canandaigua—Stock . . . . . . . . . . . .
Norfolk Southern—1st mortgage, g old ....................
2d mortgage, Income (not cu m u la tiv e)............
2d mortgage debenture................... ..................... Funded Tut. bonds ( f 27O,000 secured by coupons)
Norfolk dt Western.—Common stock..........................
Preferred (6 per cent) stock.............. ..... ...............
General mortgag. gold (for *11,000,000).............
1st M., gold, on New Riv. div, (coup, or reg.)---- Improv. As Ext. mort., gold, ($8,000,000 author’d)
Adjustment mort., gold (red’ble after ’94 at 110).
1st inortg. on Clinch Valley Div.............................

INCOME ACCOUNT.
1883-84.
1882-83.
Receipts—
$
9
3,337,901
Gross earnings.......... 3,568.653
396,276
382.277
Net earnings..............
31,846
3,204
Other receipts...........
Total Income.......
Disbursements—
Rentals pa id.............
Interest on nonds*. .
Int. on floating debt.
Int. on car tr’sis&mis.
7 per oent dividend..

432
432
432
¿32
112
82
50
12
73
134
16
100
75
75
533
428
103
533
533
115

6 g• M. As S. London and New York.
1880 $500Aso. $8,000.000
do
do
7 g. J. & J.
1880 500 &o. 44,236,000
do
do
5 g. M. As N.
1880 500 Aso. 14,500,000
do
do
M.
A
s
N.
30,000,000
5
g.
1880 500 Ase.
Philadelphia.
1,848,<'00
6 g. J. As J.
1,000
1883
do
do
6
1,000,000
1,000
1883
3,000.000
21a Q—Feb. N.Y., Central Trust Co.
100
do
do
J.
&
J.
1,000,000
7
1,000
1869
do
do
4
A. As 0.
300,000
1,000
1881
6
A, As O. N. Y., Nat. Park Bank.
3,500,000
1880 500 &o.
250,000
6 g. I. As D.
1,000
1881
3,750,000
5 g. I. As J.
1,000
1887
633,000
4% F. As A.
1887
N. Y ., So. Pao. Co.
1,518,000
4
g. A. As 0.
500
1882
Treasurer’s Office.
600,000
1,000
6 g- J. & J.
1882
1,000,000
6
1883
180,213
6
F. As A.
1,000,000
3
A. As O. N. Y., Cent. RR. Offloe.
100
900,000
6 g. M. As S. Int.fund. from Sep. 1,’84
1,000
1880
Yearly.
1,000,000
6
1,000
1881
250,000
6
A. As O. Int.fund. from Sep. 1,’84
1,000
1881
345,000
6
Various
300
’80-’82
100
7,000,000
100 22,000,000 3)3 scrip.
6,907,000
1,000
6 g. M. As N. N. Y. and Philadelphia.
1881
do
do
2,000.000
1.000
6 g. A. As 0.
1882
do
do
3,500,000
6 g. F. As A.
1,000
1883
1,500,000
1,000
7 g. Q.—M. New York and Phila.
1884
2,500,000
5
1,000
1887

1884-85.

1835-86.

3.288,946
987,231
23,473

3,8631994
1,243,339
35,411

385,481

428,122

1,010.704

1,278,800

74,844
848,064
7.594
86,5s2

88.903
916,273
10,113
82,103

130,132
933.221
28,769
32,041

66,235
964,629
94,269
9,507
133,000

1,124,166
1,097,397
1,267,610
Tot’l dlsb’ments. 1,017,084
Balance .............. def. 031.603 def. 669,275 def. 113,459 sur. 11,161)
'Including int. on Terminals and fu ll interest on bonds each year.
—(V. 42, p. 60, 61, 156, 187, 243, 304, 393, 431, 463,4S7, 575, 596, 694;
V. 43, p. 23, 103, 132. 162, 274, 399, 459, 548, 635, 6 7 0 , 672, 746, 766;
V. 44, p. 22, 149, 185, 276, 303, 314, 525, 551.)
New York New H aven A H artford .—Owns from Harlem JunoN. Y., to Springfield, Mass.. 123 miles; branches to New Britain, Middle,
town andSuttleld, 18 miles, leased—Harlem As Porto heater EE., 12 miles:
Shore Liue BH., 50 miles; Boston & New York Air Line and branch, 54
miles; Stamford & New Canaan Road, 8 miles—total operated, 263
miles. This was a consolidation July 24, 1872, of the New York As New
Haven and the Hartford & New Haven railroads. The oompany uses
the N. Y. & Har. KR. from Williamsbridge into N. Y. City and pays a
large rent therefor. The oompany leases the Harlem River & Portohester Railroad, and guarantees the bonds. In November, 1882, the
lease of the N. Y. & Boston Air Liue for 99 years at 4 per cent per an­
num on the preferred stock was made. In Sept., 1882, the stock of the
Hart. As Conn. Val. road was purchased. In April, 1881, a controlling in­
terest was bought in the N. Ilaven & Northampton RR. stock by parties
In the interest of this oompany. In 1883 the mortgage for $5.000,000 at
4 per oent was authorized, to be issued as required in making improve­
ments on the main line. Fiscal year ends September 30.
For the six months ending March 31 gross earuiugs were $3,624,689
in 1836-7, against $3,480,49 4 in 1885-6; net, $1,298,278, against $1,233,950; surplus over fixed charges, $878,363, agaiust $335,152. An­
nual report for 1885-6 was in V. 44, p. 58.
1883-4.
1884-5.
1885-6.
$
$
$
6,887,259
6,895,824
7,601,946
Gross earnings.........................
Operating expenses.................
4,655,044
4,449,288
4,775,*20
Disbursements—
Rentals paid..........
Interest on debt__
Total.

2,232,245

2,446,536

2,826,126

422.992
250.052

425,663
250,000

442,876
250,000

673,044
1,559,171
1,550,000

675,668
1,'770.868
1,550,000

692,876
2,133,250
1,550,000

B alance..............................
9,171
220,368
5 S3,25
—(V. 42, p. 59, 243, 575; V. 43, p. 163, 603; V. 44, p. 58, 212, 495, 58t
653.)
New Y o rk Ontario Ac W estern .—(See Nap)—Owns from Oswegc
N Y., to Cornwall, N. Y., 273 miles; branches to New Berlin, 22 miles
to Delhi, 17 miles: to Ellenville,8 miles; total owned, 3z0 miles ; lease
Randallsville to Utica, 32 miles, and Clinton to Rome, 12 mites. By cot
tract has right over West Shore RR. from Cornwall to Weehawken, 5
miles ; total operated, 417 miles.
In May, 1886, made the agreement with the D. & H. Canal Co. fo
operation of the U. C. As Bing, and the Rome As Clin, roads for 30 year
on a percentage basis.
This was the New York & Oswego Midland. Main line was openei
July, 1871. Default was made in 1873. The main line was sold in fore
closure Nov. 14,1879. Present company organized January 2 2 ,188C
Or the $4,000,000 of 6 per oent first mortgage bonds $2,000,000 wer
used to retire the preferred stock, of which $73,000 was outstanding Oc
io o J ’ i£ 8(iv
agreement with the new West Shore Co. in January
1886. the N. Y. O. & W. took title to the road, Middleton to Cornwall
“ na * n ght to run its trains over the West Shore from Cornwall to Wee
haw ken by payment of a fixed sum per mile for trackage.
G,ro8« earnings from Oct. 1 to Match 31 were $613,647 in 1886-7
against $737,7o8 in 1885-6; net, $50,431, against $62,7u7.
eildin^ Sept. 30,1886, gross earnings were $1,492,851
net, $>221,999. See annual report in V. 43, p. 606.
. ,o r six mouths ending March 31, gross earnings were $613,641
a8a*f1'd $737,708 in 1385-6; net. *80,930, against $102,306
?o f0U1?o?r iiiaige8’ $40,670, against a surplus of $12,588. (V. 42, p. 93

March 1,1895
July 1, 1905
May 1, 1910
May, 1915
Jau. 1,1923
Oot. 1,1933
May 10, 1887
July 1, 1899
April 1, 1901
April 1, 1910
1911
Jan. 1,1937
Feb. 1,1937
Oot. 1, 1912
Jan. 1, 1902
Jan. 1, 1912
Aug. 1. 1890
April 1, 1887
Sept. 1, 1920
Jan. 1, 1970
Oot. 1, 1921
1920 As 1921
Jan. 15,1884
May 1, 1931
April 1, 1932
Feb. 1, 1934
Deo. 1, 1924
1957

June,'1880. Formerly Atlantio & Great Western Railway. Sold July
l, 1871, and leased to Erie on May 1,1874, but lease not carried out.
Again sold Jan. 6, 1880, aud reorganized by a London committee
of stock and bond holders. (See V. 30. p. 143.)
Five trustees exercise the voting power of the new stock until the third
mort. bondholders receive 7 per oent interest in cash during three years.
The first mortgage bonds bear 7 per oent, whatever portion of this that
may not be earned to be payable in deferred warrants, to be capitalized
in bonds of the same class; payment of interest to beoome absolute not
later than July 1,1895, ana until July 1,1895, the right to foreoloso
the mortgage is suspended. On the second and third mortgages there
is no right to sue the company or to foreclose. The stock is—preferred
$10,000,000; common, $34,999,350. The deferred warrants Deo. 31,
’86, were $5,502,176. Bonds above are also seoured on leasehold estates.
From May 1,1883. leased to N. Y. Lake Erie As Western. The rental
will be 32 per cent of all gross earnings up to $6,000.000, and 50 per
oent of all gross earnings above $6,000,000, or until the gross earnings
are $7,200,000, and then 35 per eeut of all earnings. But if 32 per oent
of the gross earnings should ever be less than a specified minimum sum
of $1,757,055 to be paid yearly, then the deficit is to be made up without
1nterest out of the excess in any subsequent year. Out*of the rental paid,
the N. Y. P. & O. has to pay its Interest and rentals, and a payment of
$260,346 a year to the oar trust.
Earnings for year ending Sept. 30,1886, $6,161,107; net, $2,011,522;
rental to N. Y. P. As O., $2,001,101; surplus of N. Y. P. & O. after all pay­
ments, $9,876. See V. 44, p. 342, 370.)
New Y o rk P h iladelph ia A N orfolk.—Operates from Delmar,
Del., to Cape Charles, Va., 95 miles, and King’s Creek, Md., to Crisfleld,
17 miles; total, 112 miles. Successor of the Peninsula RR. Co. of Va.,
Jan. 1, 1884, purchased the Eastern Shore (Md.) RR., Delmar to Orisfield, 38 miles. Capital stock, $1,714,375. There is also a 6 per cent
bottomry mortgage for $225,000 due in 1387. Gross earnings in 1884,
$123,526; net, $50,236; interest on bonds, $55,920. Gross in 1885
$313,148; net, $18,500; interest, $120,007. A. J. Cassatt, Pres., Phila.
N ew York ¡Providence Ac B oston.—Owns from Providence, R.
£., to Groton, Conn., 62 miles; Warwick RR., 10 miles; Pontiac branch,
48a miles; operates also Pawtuxet branch roads, 58a miles; total oper­
ated, 82 miles. Owns a majority interest in the Providence & 8toning
ton Steamship Line, which has a capital of $1,400,000. Gross earnings
iu 1885-86, $1,237,120, against $1,139.386 in 1884-85; net earnings,
$376,073. against $378,370. (V. 43, p. 745.)
New Y o rk Susquehanna Ac W estern .—Jersey City to Grave
Place, 101 miles; Two Bridges, N. J.. to Unionville, N. Y., 21 miles; other
branches, 12 miles; leased—Unionville, N. Y., to Middletown, N. Y., 14
miles; Lodi Br., 2 miles; Penn. RR. trackage, 3 miles; Passalo Br., 3
miles; total, 155miles.
The New Jersey Midland was sold in foreclosure Feb. 21,1880, and
the Midland ol New Jersey was organized. The New York Susquehanna
& Western was a consolidation in June, 1881, of the Midland of New
Jersey and other railroads. Stook common is $13,000,000; preferred
(cumulative 6 per cent), $8.000,000. The New Jersey Midland junior
securities were exchangeable into stock of this company on certain
terms, and the exchanges up to Jan. 1,1887, left $1,844,474 of the old
stock, income bonds and scrip not yet exchanged.
In Dec., 1386, new 5 per cent bonds were proposed, to exchange for
the first mortgage bonds and coupon scrip, and the exohange was gen­
erally accented by bondholders, making the debt as above given. (See
annual report V. 4 1, p. «19.)
Gross earnings from Jan. 1 to March 31 were $295.475 in 1887
against $245,211 in 1886; net, $139,143, against $106,869.
income aooouut has been as follows:
INCOME ACCOUNT.
1883.
1834.
1885.
1886.
Receipts—
$
$
$
$
Total gross earnings........ 1,038,656 1,034,208 1,092,355 1,129,441
Net earnings. . . ...............
400,065 416,521
474,835
457,286
Other income.................................................................................
44,023
T otal............................

400,065

416,521

474,835

Interest on bonds.............
382,500
Rentals................................................
Oar trust obligations...........................

411,000
25,000
83,192

*32 ’ ,09 5
25,000
192,3 >2

501,309
*327,766
29,500
155,919

Total disbursements..
382,500
519192
439,447
513,184
Balance............................. sur. 17,565 df.102,671 sur. 35,388 df. 11,875

* Half Interest only paid on N. Y. Sus. & W. firsts and debentures,
t The car t-usts accrued during the year amounted to $117,552, o f
which payment of $25,200 was deferred,
—(V 43, p. 335, 368, 516, 672,746; V. 44, p. 22,149, 308 6 1 9 )
New Y o rk T e x a i A M exican . - Line projected from Rosenborg
Junction, Texas, to Brownsville, 350 miles. Completed Rosenberg to
Victoria, 92 miles. Stock, $814,800. There are also $75,500 6s yet
« ¡ W W & S f t S S “ ’ “ *' v- ” »■•*••*»> » ' « .
outstanding. In September, 1885, sold to So. Devel. Go. and is oper­
New York P eunsylvania A O k lo .-O w n s from Salamanca ated by the So. Pacific. In 1886 gro s earnings were $1 '->><,858; net.
Hi",Ji'j JoHayton, O., 388 miles; branches—to Oil City, 34 miles; t< $9,006. (V. 42, p. 243; V. 43, p. 133, 163; V. 44, p. 335. 344.)
Silver Creek, O., 2 miles ; total owned, 424 miles. Leased linesN ew Y o r k W oodfeaven A R o c k a w a y .—Owns from Glendale
®*akon. RR.,81 m.; Niles As New Lisbon RR., 36 m.; other smal
to Rockaway Beach, 10% miles; leased—Glendale Junction to
branches, 32 m.; total operated, 573 miles. Changed to standard gaugi Junction
Long Island City, 6% miles ; Fresh Pond to Bushwiok, 2 »a mile« ; Wood-




INVESTORS’
SUPPLEMENT.
[Y ol. x t .i v ,




M a y , 1887.J

RAILROAD STOCKS AND BONDS,

79

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
Due,
MUes Date Size, or
Amount Rate per When Where Payable, and by pal,When
Stocks—Last
Par
of
of
For explanation of column headings, Ac., see notes
Whom.
Dividend.
Cent. Payable
Road. Bonds Value. Outstanding
on first page of tables.
Norfolk <£ Western—{Continued)—Car trust.. . . . . . . . .
Convertible debent’res (redTile on 30 days notice)
Norfolk A Petersburg—2d mort.. . . . . . . . . - -------- i
South Side—1st pref. con. M. (ext. In ’85 and ’86)
do
2d
do
guar. Petersb’rg
do
3d
do
.................
Virginia A Tenn.—Enlarged mort. (extend’d In ’84)
do
do
4th mortgage.....................
Forth Carolina—Stock, common..............................
Preferred stock...................................................... .
Mortgage bonds................................................. .
Forth Pacific Coast—1st and 2d mortgages...........
1st mort. NorthPaciflo Coast Extension C o ......
Forth Pennsylvania--Stock, guar...........................
2d mortgage................................ - .......................
General mortgage bonds.......................................
Bonds secured by $1,200,000 stock.....................
Fortheetstcrn (S. U.)—Stock.............................. .
1st mortgage...........................................................
2d mortgage............................................................
Consol, mort.,gold (for $1,836,000)................... .
Northern (Cal.}—1st mortgage ($6,300,000), gold..
San Pablo A Tulare—1st mort. ($3,750,000)........
Northern. F. H.—Stock........ ........... ................ .
Northern Central—Stock.............................................
1st mortgage, State (Maryland) loan.....................
2d mortgage, coupon..................... .................... .
Consolidated mortgage, gold, coupon....................
Consolidated mortgage, gold, registered...............
Consol, gen. mort., gold, s. f., coup., £ or $ A. A B
do
do
gold, coup. $ C A D .......... I
do
<lo
do
do
E...................

Varis $ . . . .
500
1884
1,000
81 1868
1,000
133 1866
133 1866 200 Ao.
133 1866 200 Ac.
1,000
214 1854
1,000
214 1865
100
223
100
223
500
223 ’67-’68
76 1881
50
500 Ao.

88
56
140
102
102

1881
1869
1869
1883
1877
1878

.

50
500
500
1,000
1,000
1,000
100
50

Ì49
47
....
83
323
....
....
138
138 1865 500 Ao.
1,000
138 1868
1,000
138 1868
138 1874-5 1,000
. . . . 1876-7 1,000
1,000
. . . . 1313

$1,297,642
M’nthly
New York A Phila.
J. A J
Philadelphia Office.
525,000
è
J. A J N. Y. and Philadelphia.
496,000
8
do
do
503,000 5, 6 A 8 J. A J
395,300 5 A 6 J. A J
do
do
J. A J
do
do
452,800
6
do
do
J. A J
990,000
5
J. A J.
do
do
1,000,000
8
3,000,000
M. A S. Company Shops, N. 0.
3
do
do
1,000,000
3
M. A S.
do
do
210,000
M. A N.
8
1,100,000
M. A N.
6
150,000
J. A J.
4,399,750
Philadelphia Offioe.
2
Q.—F.
1,500,000
M. A N.
do
do
7
4,169,500
J. A J.
do
do
7
1,200,000
M. A S.
3
do
do
899,350
6
820,000
8
M. A 8.
Charleston, Office.
322.000
M. A S.
do
do
8
694,000
6 g. J. A J. N. Y., John Paton A Co.
3,964,000
T.
A
J.
Central
Pacific
RR.
6 g.
1,023,000
A. A O.
6
do
do
3,068,400
3
J. A D. Bost.,Cono’d or Leban’n
6,500,000
4
J. A J. Baltimore A Philadel.
1,500,000
6
Annapolis.
1,126,000
6 g. A. A O. Baltimore & Philadel.
2.599,000
6
J. A J.
Baltimore.
205,000
do
6 g. A. A O.
2,366,000
J.
A
J.
London A Baltimore.
6 g.
2.000,000
6 g. I. A J.
Baltimore.
1,220,000
4 i g . 4. A O.
do

Various.
Jan. 15, 1894
July 1, 1893
1888 to 1900
1888 to 1900.
Jan.l,’96-1900
June 30,1900
Mch. 1, 1900
Mar. 7,1887
Mar. 7, 1887
Nov., 1888
Nov. 1, 1901
Jan. 2. 1889
May 25,1887
May 1, 1896
1903
Sept. 1. 1905
In 1884-5
Sept. 1, 1899
Sept. 1. 1899
Jan. 1, 1933
Jan. 1,1907
April 1, 1908
May 2, 1887
Jan. 15,1887
Irredeemable.
April 1, 1900
July 1, 1900
July 1, 1900
July 1, 1904
July 1, 1904
April 1, 1925

haven to Brooklyn, 6*e miles; total operated, 261* miles. The
Nortli P en n sy lv an ia .—Owns from Philadelphia, Pa., to Bethlestock Is $1,000,000. In Nov., 1886, It was agreed to assess the stock 5 |hem, Pa., 56 miles; branches—Jenkint’n to Dela. River, 20 miles; Lons­
per cent, Income bonds 10 per oi nt, and to inorea^e the mort. bonds to dale to Doylestown, 10 miles; Iron Hill to Shimersville, 2 miles; total
$1,000,000 at 5 percent. Foreclosure Is to be made and new securities operated, 88 miles. The Northeast Penn, and the Stony Creek roads are
issued as follows: $1,000,000 1st mort. bonds, $1,000,000 income operated under contract. In May, 1879, was leased to Phila. A Reading
bonds and $1,000,000 stock. See V. 43. p. 672. In 1885-6 gross earn at 6®7 p. o. on stock till 1883, and 8 per oent thereafter.
ings were $111,986: net, $20,255; Interest and taxes, $46,686; bal
(S. C .)—Owns from Charleston, S. C., toFlorenoe,
ance, dof., $26,431. In September, 1886, weni under Corbin manage S. Northeastern
C., 102 miles. Leased jointly, Lane, S. C., to Sumter, S. C., 38 miles.
ment. J. D. Campbell, Secretary of committee, 115 Broadway. (V. 43 Total
operated,
140
miles. This company has earned the interest on its
p. 217, 245, 335, 672, 434.)
bonds, with a good surplus. In Nov., 1882, the above consol, mortgage
Niagara Bridge A Canandaigua.—Owns from Canandaigua to was authorized, of which $1,142,000 to be held to retire debts of prior
Suspension Bridge, N. Y., and branch, 100 miles. The road is leased in lien. In 1883-84 gross earnings were $569,470; net, $164,946; in 1884-5
perpetuity to the New York Central A Hudson at $60,000 per annum gross, $570,058 net, $162,819; in 1885-86, gross, $558,633; net, $121,with right of lessee to commute by payment of a gross sum of $1,000,000, 765. (V. 42, p, 2 1 ; V. 43, p. 7 1 7 .)
N orfolk Southern.—Formerly the Elizabeth City A Norfolk. Name
Northern (California).—Owns from West Oakland to Martinez, 31
changed Feb. 1,1883. Owns from Norfolk, Va., to Edenton, N. C., 73 miles: Benicia to Sulsun, 16 miles; Woodland to Tehama, 101 miles;
miles. Capital stock, $1,000,000. The holders of 1st mort. and deben leased, San Pablo A Tulare RR.—Martinez to Tracy City, 47 miles;
ture bonds funded their interest for five years, Sept, and Oct., 1884, to total operated, 195 miles. Completed in 1878 and is leased to the
March and April, 1889, respectively. Gross earnings in 1885, $206, Central Pacific till Jan. 1,1907, at a rental of $40,000 per month and
310; net, $71,165 ; surplus over all payments, $6,953.
guar, of principal and interest of bonds foi Northern; and San Pablo A
Norfolk A W estern .—(See Map.)—Owns from Norfolk, Va..to Pe T. leased till 1908 for $13,800 per month and guar, of prino. and tut. of
bonds.
In 1881 8 per cent dividend paid; in 1882,1% ; in 1883, 3hi.
tersburg, Va., 81 miles; Petersburg, Va., to Lynchburg, Va. 123 miles
Lynohburg, Va., to Bristol, 204 miles; branches—Petersb’gto Cltv Point The Northern stock is $6,190,500—authorized, $8,400,000, and San P.
Va., 10 miles; Junction to Saltville, Va.. 10 miles; New River Division, A T. stock $1,861,000. W. V. Huntington, President. San Franciseo.
75 miles; coal mine branches, 8 miles; Cripple Creek extension, 23
N o r t h e r n , N ew H a m p sh ire.—Owns from Concord, N. H., to West
miles; total operated Deo. 31,1886, 533 miles.
Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol, N. H., 13
The Atlantic Mississippi A Ohio RR. Co. was a consolidation of Nor­ miles; total, 83 miles. Leased to Boston A Lowell at 5 per cent per
folk A Petersburg, South Side and the Virginia A Tennessee roads, in all year on stock. In March, 1887, the Supreme Court of New Hampshire
of which the State of Virginia had an interest for loans made to them. held the lease to be invalid. In 1886-7, net income from rental and in­
Default on the Atlantic Mississippi A Ohio consolidated bonds was made terest account was $210,275; dividends of 6 per oent, $179,838. The
October 1,1873, and the road was sold in foreclosure Feb. 10, 1881 only liabilities are a guaranty of $500,000 Concord A Claremont Rail­
and was reorganized as the Noxfolk A Western. Of the general mort road bonds, of whioh the Northern RR. owns $200,500. (V. 42, p. 694.
gage, enough is reserved to take up prior liens.
7 5 2 ; V. 43, p. 184; V. 44, p. 370, 541.)
In May, 1887, the negotiations for sale of $2,500,000 bonds on the
N orthern Central.—Owns from Baltimore, Md., to Sun bury, Pa.,
Clinch Valley Division (connecting with Louisville A Nashville) and
139 miles; branch—Relay to Green Spring, 9 miles; leased—Shamokln
$4,000,000 pref. stock were referred to in V. 44, p. 654.
Valley
A PcttsvUle RR., 28 miles; Elmira A Williamsport Railroad, 78
The management of the company has been active in extending and
improving the property, and in 1887 the above named line is in progress miles; operated ai cost—Chemung Railroad, 22 miles; Elmira Jefferson
A
Canandaigua
RR., 47 miles—315 miles: track of New York Lake Erie A
to connect with the Louisville A Nashville.
Gross earnings for three months from Jan. 1,1887, were $901,079 Western used 7 miles; total operated, 323 miles. This was a consolida­
tion
of
several
roads
In Deo., 1854. The terms of the several leases will
against $718,002 in 1886; net, $364,444, against $282,930,
The annual report for 1886 was published in the Chronicle, V. 44 be found under the names of the leased roads. In February, 1882, pur­
chased
at
par
the
stock
of Union Railroad in Baltimore, $600*000,
pp. 493, 496. The earnings and expenses for four years were:
practically making that road a part of the Northern Central property,
. ,
1883.
1884.
1885.
1886.
subject
to
its
mortgages.
The
consolidated general mortgage (gold) oi
503
503
610
533
MUes operated........
1874 was for $10,000,000 to retire all prior bonds. Of the above bonds
Operations—
$2,366,000
are
sterling
or
dollar,
interest payable in London or Balti­
Passenger mileage.. 16,285,288 19,213,251 19,151,534 19,580,000
Rate per pass. perm. 3*815 cts. 3-362 cts.
3-027 cts.
3-122 cts. more, and the balance are dollar bonds, interest in Baltimore.
Gross
earnings
for
three
months
from
Jan. l t o March 31 were $1,517,Freight (tons) rnil’ge 155,521,709 171,773,275 295,788,872 403.008,908
959 in 1887, against $1,291,231 in 1886; net, $640,641, against $515,Rate per ton perm .. 1-409 cts. 1-202 cts.
0-741 cts.
0 655 cts. 785.
Earnings—
$
$
$
$
The business of the company depends to a considerable extent on
Passenger................
485,805
521,192
458,445
486,231
traffic. The fiscal year ends December 31, and the report for
Freight.....................
2,181,711
2,025,087
2,138,120 2,580,827 coal
was in the Chronicle, V. 44, p. 273.
Mail, express, Ac__
145,260
164,875
174,555
174,998 1886
Income account for four years was as follows:
Total gross eam’s.
2,812.776 2,711,154
INCOME ACCOUNT.
2,771,120 3,252,056
Operating expenses.
1,509,574
1883.
1884.
1,516.858
1885.
1,619,291
1886.
1,960,910
Receipts—
$
$
$
1,303,202 1,194,296
$
1,121,829
1,291,146 Gross earnings........ 6,088,130
5.521,876
5,490,923
5,474,617
P o . of op. ex. to earn
53-7
55-9
60-0
60-29
Net earnings............. 2,256,525
2,053,482
2,235,309
1,931,949
INCOME ACCOUNT.
Other receipts..........
246,843
263,829
254,070
277,348
1883.
1884.
1885.
1886.
Receipts—
$
Total income........ 2,503,368
$
$
2,317,311
2,489,379 2,209,297
$
1,303,202
1,194,296
Disbursements—
1,121,829
1,291,146
$
$
Other receipts.
557,313
461,761
442,203
34,303 Rentals l’s’d lines, Ac*
446 997
Interest on debtt.......
881,180
935,014
931,272
903,041
1,303,202
Dividends..................
1,194,296
520,000
520,000
1,121,829
520,000
520,000
1,325,449
Disbursements—
$
a
Rate of dividend.......
8
8
8
$
8
$
Inter, on bonds, A o..
810,792
953,436 1,139,991
Miscellaneous...........
41,130
46,511
53,690
44,775
1,184,547
Dividends.............. .
525,000
Miscellaneous.......
Tot.
disbursements.
1,999,623
1,963,286
1,947,165
1,914,8 là
55,699
9,239
Balance, surplus...
503,745
354,025
542,214
294,484
Total disbursem’ts.
953,436
1,195,690
1,193,786
*
Includes
rent
of
roads
and
interest
on
equip,
t
Includes
car
trusts.
Balance for year
def.32,590 sur.240,860 def. 73,861 sur. 131,663 —(V. 42, p. 156, 2 4 0 , 272, 387, 549, 664, 783; V. 43, p. 132, 245,
368,
7o(J o 4^ ’ P-22. 61, 187, 207, 304, 431, 516,549,664,728- V 43 n 23 516, 635, 774 ; V. 44 p. 83,149, 2 7 3 , 276, 401.)
N
orthern
o
f
N
ew
Jersey,—Owns
from
Bergen,
N.
J.,
to
Spar43! ; 458*, i t l ',
44, p‘ 22’ 149’ 212’ 3° 9’ 33’5’ 40^
bllLN. Y., 21 miles: leased Sparkill to Nyack, 5 miles; total operated, 26 miles. This road was opened October 1, 1859. By contract
of April, 1869, it is operated by New York Lake Erie A Western at 35 per
Railroad for 30 years at a rental of $260,000 per year. Dividends o f « cent of its gross earnings. It is understood the contract is terminable
K S ftS r S ftffi
°* whlcl1 the State of North Carolina holds by either party on notice. Dividends are paid as earned on the rental.
thr ^ rf<Celv^ l b^ the 8tate « » applied to Gross receipts in 1885-6 $322,216 ; net deficit for year after payment of
charges, sinking fund and dividends, $262. Gross in 1885, $317,458 ;
surplus over interest, dividends, Ac.. $12,303. (V. 44, p. 118.)
73 miles *bxn5£h
from Saucelito to Moscow Mills, Cal.,
Northern Pacific.—(See Map.)—Line of R oad—On June 30,1886.
OuMvttn84. rnfi^c
Rafael> 2 miles; leased, San Rafael to San the mileage was made up as follows : Main line—Ashland, Wis., to Waloo*
an(^ Duncan’s Mills to Ingram, 7 miles* total nnop lula
Junction, Oregon, 1,739 miles; Duluth to Northern Pacific Junction.
$54,998. milea‘ Stock’ $2,500,000. Earnings in 1885, $289,557 netj 23 miles; Portland to Eagle Gorge, 192 miles ; South Prairie branch, 10
miles; Pasco junction to Ellensburg, 127 miles ; PayaUup Junction to




x l iv

l?ou
RAILROAD STOCKS AND BONDS.



RAILKOAD STOCKS AND BONDS.

Ma y , 1887.]

s r

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables,
1Bonds—Brinci
INTEREST OR DIVIDENDS.
d e s c r ip t io n .
pal,When Due»
Date Size, or
Amount
Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, Ac., see notes of
Outstanding
Whom.
Cent. Payable
Dividend.
Road. Bonds Value.
on first page of tables.
Roaa.
Northern Central—(Continued)—
138
3d general mort., “ A,” coupon (sinking fu n d )---do
“ B.” coupon................................| 138
Union RR., 1st mortgage (assumed!.....................
do
2d mortgage (assumed)..................
26
Northern o f New J ctsc«—Stook........................... .
21
1st mortgage, exteuued...........................................
21
2d mortgage......................................... ........
Norther nPact/le—fret. stook(8 p. c., not cum tive). 2,807
Common stock........................------....... ................ 2,807
1st Mort. and land grant bonds, Missouri D iv.... 205
225
1st Mort and land gr. bonds. Pend d Oreille Div.
Cons. 1st M. Id. g., gold. $25,000 p. m., op. or reg. 2,i 60
Ail
do
2d m., gold, land grant, coup. & reg.
Dividend certificates................ ................... ..........
64
Jas. Rtv. Val. HR. 1st mort., gold, guar., s. f ........
43
Spokane & Palo use, 1st M., sink. fa., gold, guar ..
Northern. Pae. Ter.Oo.—1st M., g. ($5,000,000) op..
"79
Northwestern Ohio—Stock..................................-.......
66
Norwich <t Worcester—8took.......................................
66
Bonds, coupon...................... ................................ .
Ogdensburg <6 Lake Champlain—Stock, common . 122
Sinking fund bonds............... •——•Voa'a,*..............
118
Mortgage Donds (redeemable July, 1890).............
Consolidated mortgage (for $3,500,000)............... 118
Income bonds, not cum ulative......................... -•
Ohio <6 Mississippi—Stock, common.......................... 616
Preferred stock (7 p. o. yearly, cumulative)........
1st general mortgage (for $16,000,000)................ 624
1st consolidated mort. ($3,445,000 are s. f . ) ........ 393
Consolidated mortgage, sterling............................. 393
2d consolidated sinking fund mortgage................ 393
Spring. Div. (Sp.A 111. S.E.) 1st M. (for $3,000,000) 222

1876
1876
1878
1869
1879
1879
1881
1883
1883
1886
1886
1883
1877
1870
1877
1880
1880
1882
1868
1868
1871
1874

J. A J
5
Baltimore.
$2,785,000
J. A J.
5
do
1,000,000
J.
A J.
6
do
900,000
6 g. M. A N. London A Baltimore.
600,000
J. A J.
New York Office.
1/)00,000
(!)
J. A J. J. City, Hudson Co. B’k.
168,000
6
M. A S.
do
do
7
200,000
37,921,863 lUiooert
• •••
49,000.000
M. A N. N. Y.. Mills Building,
6
2,136,000
do
do
M. A S.
2,949,000
6
do
do
6 g. J. A J.
46,129,000
do
do
20,000,000
6 g. A. A O
do
do
4.640,821
6
Jan*y.
do
do
1,000
963,000
6 g. J. A J.
M. A N. N. Y.. No. Paoific RR.
1,000
688,000
6
1,000
3.000.
000 6 g. J. t& J. N.Y., Winslow, L. A Co2.000.
000
100
4
J. A J. Boston, 2d National Bk.
2,604,400
1,000
6
M. A S. Boston, N. E. Trust Co.
400,000
100
J. A J.
Boston, Office.
3,077,000
2
1,000
M. A S.
do
380,000
8
1,000
do
600,000
6
J. A J.
500 Ao.
do
6
A. A O.
2,529,650
100 Ao.
999,750 3 A 6 A. A O.
do
100 20,000,000
100
4.030,000
3*fl M. A S. N. Y., Union Trust Oo.
1,000
3,216,000
J. A D.
5
do
do
1.000
6,501,000
J. A J.
do
do
7
£200
112,000
6 g. J. A J.
London.
$1,000
A. A O. N. Y. Union Trust Co.
3,715,000
7
1,000
M. A N.
2,009,000
do
do
7

Stuck Junction, 7 miles; Duluth to Superior, 7 miles; total owned, 2,105
miles. Leased—Braiuerd to St. Paul and branches, 148 miles; Little
Falls A Dakota RR., 88 miles; Northern Pacific Fergus A Black Hills
RR.. 117 miles; Fargo & Southwestern RR., 87 miles; San. Coop. A Tur­
tle Mount. RR.. 36 miles; Jamestown A Northern RR., 87 miles; Sykestown Branch RR., 13 miles; Rooky Mount RR. of Montana, 52 miles;
Helena A Jefferson Co RR., 20 miles; James River Valley RR., 49 miles;
total leased, 695 miles; total owned and leased, 2,807 miles. Thompson
Juno., Minn., to Duluth is owned Jointly with the St. Paul A Duluth.
Organizatio n.—This company was chartered by act of Congress July
2,1864, to build from Lake Superior to Puget Sound and Portland, Or.
The land grant was 20 sections per mile in States and 40 sections in
Territories. The road was opened 450 miles west from Duluth—to Bis­
marck, on the Missouri River—in 1873. The company defaulted Jan.,
1874, and the road was foreclosed August 12,1875, and reorganized by
the bondholders’ committee Sept. 29, 1875. New preferred stock was
Issued at the rate of $1,400 for each $1,000 bond and overdue interest.
Stocks and Bonds.—The preferred stock (issued for old bonds) has a
preference for 8 per cent in each year if earned, but is not cumulative.
The common stock then takes 8 per cent, and after that both Bhare alike.
The preferred stock claim on net inoome is only subjeot to expendit ires
for new equipment. The preferred stock is received in payment
for the company’s lands east of the Missouri River at par and the prooeeds of the lands sold go to the retirement of preferred stock.
A large Interest in the stock ($5,683,000 pref. and $7,925,100 of
com. in April, 1886,) was held by the “ Ore. A Trans-Continental Co.”
In Sept., 1882, a dividend, in certificates of l l i j o per cent, amounting
to $4,667,490. was declared on the pref. stock payable Jan. 15,1883.
Prices of preferred stock since’79 have been: In ’80, 393e®671a: In
’81, 641s ®8819; in ’82, 66%® 1003s; In ’83,49%®90Sg; in ’84, 37J4®5758;
in *85. 36)a®653e; in ’86, 53*3®66is; in ’87 to Mar. 19, 56^®613s.
Common stock: I n ’80, 20®36; in ’81, 32%®51; in ’82, 28%®543s; in
*83 , 23i8®53i8; in 84. 14®27; in ’85, 15®31%; i n ’86. 22®3130; in
’87 to Mar. 19, 26i«®28,c.
The consol, first mortgage bonds are a first lien on the main line; and
on all the lands of the company except those subject to the two divisional
mortgages and those lands east of the Missouri River which are subject to
the preferred stock. The issue of bonds is limited to $25,000 per mile
The proceeds of land sales can be applied to the payment of interest on
bonds, Instead of principal, if the earnings of the road are insufficient.
Central Trust Co. of N. Y. is trustee. The bonds are received in pay­
ment for lands at 110 and interest, and proceeds of land sold must be
applied to redemption of these bonds at a price not exceeding 110 and
interest. Sinking fund of one per cent per annum of the total amo mt
of bonds issued began in 1886 and the bonds may be drawn and called
in at 110, one-half in January and one half in July. The total
issue of the Missouri Division (Bismarck on Mo. Riv. to Yellowstone
Riv. 205 miles) and Pend d’Oreille Division (Junction of Snake and
Columbia rivers to Lake Pend d’Oreille 225 miles) bonds was $6,480,300, against which are reserved a like amount of the Northern
Paoific first mortgage bonds; the proceeds of laud sales are applied to
redemption of these divisional bonds at par,
The James River Valley bonds are on the road from Jamestown, Dak.,
on the Northern Pacific south to La Moure, 49 miles, where a Junction
is made with the Fargo A Southwestern; the road is leased to Northern
Pacific for 999 years, and the bonds are guaranteed. The bonds are re­
deemable at 105 after 1896. The Spokane APalouse RR. extends from
Marshall on the main line to Belmont, 43 miles. It is leased to the N. P.
for 999 years, the N. P. paying the interest and sinking fund re­
quirements as rental The bonds are issued at $16,000 per mile, and are
redeemable at 105 after 1896.
Other reads leased .and guaranteed sufficient earnings to pay interest,
are named under Oregon Trans continental.
L ands .—The land grant of the company was 12,800 acres per mile in
States and 25,600 acres per mile in territories, and the lands earned by
construction to June 30, 1886, were estimated to be about 44,864,000
*or?8’ .°C.,w^ °h about 39.031,876 remained unsold. The lands
east of Bismarck (Minn, and Dak. Divs.) are pledged to the pre­
ferred stock, and that stock is received in payment therefor. The
general mortgage bonds cover all the other lands, the divisional mort­
gages having prior ¿iens on their respective divisions. For the fiscal
year 1885 6 land sales were 370,925 acres tor $1,394,227, including
town lots. In July, 1886. a sale was made of about 2,430,000 acres of
land (embracing all lands in Dakota east of the Missouri River) at $2
per acre, payable in preferred stock.
«Q
G^K8«-a^niing8 Jul7 1 to March 31 were $9,470,123 in 1886-7, against
$4,452,897, against «4,262,804. The fiscal
30. The annual report for 1885-6 was published In V.
43, p. 333, and had the following:
1883-84.
1884-85.
1885-86.
Miles operate 1June 30......
2,547
2,668
2,808
Mornings—
$
$
$
4,237,259
3,075,882
‘¿,«97,218
7,865,367
7,446,266
8,189,614
Mail, express, A c.
500,949
712,001
643,695




12,603,575
7,177,755

11,234,149
6,196,301

5,425,820

5,037,848

Jan. 1, 1926
Jan. 1. 1926
Jan. 1, 1895
May 1, 1900
In 1886
July, 1888
March, 1889
Jan. 15, 1883
Deo. 1.1933
May 1, 1919
Sept. 1, 19 1 »
Jan. 1. 192T
Deo. 1,1933
Jan. 1, 1883
Jan. 1, 1936
May 1, 1936
Jan. 1, 1933

$1,000
1,000
500 Ac.
500 Ac.
10O
100 Ac.
100 Ac.
100
100
500 Ao.
1,000
l.OOOAc
1,000Ac

INCOME ACCOUNT.
1883-84.
$
5,425.820
Net earnings..«..........................
Adjustm’t o f aoo’ts A int. bal..
39.898
38,973
Dividends on investments.......
General interest account...........
Disbursements—
Interest on funded d e b t..........
Rentals........................................
Guarantee to branoh roads.......
Contributions to sinking fund..
Balanoe general iuterest aco’t..
Opening celebration..................
Miscellaneous.............................

Jan. 10, 188T
M archi, 1897
July 10,1876
Mar., 1890
1897
pril 1 ,1 9 2 0
April, 1920

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

Mar. 1,
June 1,
Jan. 1,
Jan. 1,
April,
Nov. 1,

1876
1932
1898
1893
1911
1905

1885-86»
$
5.574,263
19,933
243,310
52,578

5,504,691

5,231,070

5,890,098

3,535,038
412,401

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

4,339,094
670,748
673,650
55,633-

4,147
27,341

39,774

3.931
318,284
179,381

4,419,035
5,139,111
5,778,899
1,055,656
91.959
Balanoe, surplus...................
111,199
—(V. 42, p. 3. 22, 85, 93. 156. 169. 187, 243,255, 272, 304, 365, 431»
532, 549, 632, 647, 663, 661, 676; V. 43, p. 4, 23, 49,132, 1 4 5,162,
256, 275, 3 3 3 , 3 3 5 , 379, 399, 400, 431. 5 6, 548, 672, 766; V. 44, p.
60, 90. 149, 162, 185, 212, 309. 434, 540, 551.)
Northern Pacific T erm in al Co.—This company owns terminal
facilities on the Willamette River, Oregon, at Portland, East Portland
and Albina. They are leased for fifty years, Jointly and severally, tothe Northern Pacific RR., the Oregon Railway A Navigation Co. and the
Oregon A California RR., with a guaranteed rental sufficient to pay
interest, sinking fund and taxes. The sinking fund begins in 1893 and
is to be sufficient to retire the bonds by maturity, whioh bonds may be
drawn at 110 and interest. The stock of $3,000,000 is owned by said
three companies (40 per cent by Ore. Railway A Navigation Co., 40 per­
cent by Northern Pacific and 20 per cent by Oregon A California RR.)».
and held by Central Trust Co. of New York, to be delivered after pay­
ments to the sinking fund which is to cancel the bonds. (V. 42, p. 207,
243 ; V. 43, p. 49.)
N orthw estern O h io.—Owns from Toledo Junction to Toledo, O.,.
80 miles, and leases 7 miles, from Mansfield to Toledo Junction. This
was a consolidation of the Toledo Tiffin A Eastern, the Mansfield Coldwater A Lake Michigan and the Toledo A Woodville roads. Leased to>
Pennsylvania Company at cost of operating. In 1886 gross earnings
$295,942; net, $72,469. In 1885 gross earnings, $269,510; net, $75,067.
N orw ich Sc W o rcester.—Owns from Norwich, Conn., to Wor­
cester, Mass., 59 miles; branch: Norwich to Allyn’s Point, 7 miles;
total, 66 miles. Operated under temporary lease by N. Y. A New Eng­
land Railroad. In February, 1885, it was voted to reduce the rental
to 8 per cent. In the fiscal year ending Sept. 30, 1888, the gross receipts
were $748,659; net, $274,377; payments for rentals, $40,475; interest
$24,157; dividends, $207,824; surplus. $21.921. (V. 43. p. 607.)
Ogdeusburg Sc. L ake C h am p lain .—Owns from Rouse’s Point»
N. Y., to Ogdensburg, N. Y., and branoh to Maquam, Vt., 130 miles.
On June 1,1886, a perpetual lease of this road was made to the Central
Vermont RR. Co., the lessee to pay interest on the bonds.
For the quarter ending Deo. 31, 18-6, gross earnings were $187,941»
against $153,689 in 1883; net, $82,163, against $76,471; surplus over
fixed charges, $19,895, against $23,538.
Gross earnings 1885-6. $562.772; net, $223,415; surplus over interest
charge, $12,362. In 1884-85 gross earnings were $616,815; net, $218,275. (V. 42. p. 22, 387, 753 ; V. 43, p. 2 2 . 580, 719 ; V. 44, p. 212.)
Ohio Sc M ississipp i.—(See Map o f Baltimore <£ Ohio.)—Owns from
Cincinnati, Ohio, to East St, Louis, 111.. 338 miles; Louisville branch»
North Vernon to Jeffersonville. Ind., 53 miles; total Ohio A Miss, line*
391 miles; the Springfield Division, Beardstown to Shawneetown, 111.»
225 miles; total operated, 616 miles. The Eastern and Western divis­
ions were sold in foreclosure and the Ohio A Mississippi Co. formed by
consolidation Nov. 21,1867. The terms of preference in the preferred
stock certificates read as follow s:
“ The preferred stock is to be and remain a first claim upon the pro­
perty of the corporation, afrer its indebtedness, and the holder thereof
shall be entitled to receive from the net earnings of the company 7 per­
cent per annum, payable semi-annually, and to have such interest paid
in full for each and every year before any payment of dividend upon
the common stock; and whenever the net earnings ”
*
’
*
*
“ shall be more than sufficient to pay both said interest of 7 per cent on
the preferred siock in full, and 7 per cent dividend upon the common
stock for the year in which said net earnings are so applied,” then the
excess shall be divided equally, Ac.
On Nov. 17,1876, the company was placed in the hands of a receiver.
The receiver was discharged in April, 1884.
The report for year ending June 30,1886 (V. 43. p. 514), showed :
18-14-5.
1885-6.
Total gross earnings................................... $3 645,467
$3,671,920
Operating expenses..........................
2,670,733
2.597,708
Net earnings................................................
$974,731
4,212
Disb nrsem ents—
Interest
on
debt...........................................
$1,024,900
$1,026,415
11,730,527 Sinking fund..................................................
49,000
53,000
6,156,264
Total........................................................ $1,073,900
$1^079,41(5
5,574,263 Deficit...........................................................
$09,169
$5,203

82




INVESTORS’

SUPPLEMENT.

[V o l .

XLIV,

M a y , 1887. J

KAILKOAD STOCKS AND BONDS.

83

Subscriber« w ill confer a great favor by giving Im m ediate notice o f any error discovered In these Tables.
Bonds—PruuonINTEREST OR DIVIDENDS.
DESCRIPTION.
Milos Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
Par Outstanding
of
Stocks—Last
For explanation of column headings, Ao., see notes of
Road. Bonds Value.
Cent, Payable
Whom.
Dividend.
on first page of tables.
Ohio <t Northwestern—1st mort., $12.000 per mile..

103

Ohio H irer- 1st mort., gold.. . . . . ___— . — ............

169
169
132
132
469
••••
....
....
....
....
....
....
43
58
120
34
451
451
. ...
706

Ohio Southern—1st mort. ($15,000 per mile)...........
2d mort., inoome ($15)000 per mile).......................
Old Ootony—Stock.......................................................
Bonds (not mortgage) coupon and registered.......
Bonds
do
do
do
.......
Bonds
do
do
do
.....
Bonds
do
do
do
.....
Bonds
do
do
do
.......
Bonds for Framingham & Lowell bon d s...............
Bonds of 1884...........................................................
Bust.Clin. F.A N. B., mortgage bonds 1869-70...
do
bonds.....................................
do
mortgage bonds....................
ureyon <e California—1st M., gold ($20,000 p.m.) ..
2d mortgage, $10,000 per mile...............................
Oregon Pacific—1st mort., land grant, gold.............
Oregon Railway <£ Navigation—Stock.......................
Mortgage bonds, gold..............................................
Consol, mortgage, gold, $25,000 per mile.............
Oregon ShortL.—lst,gld.,int.gu.byU.P.($25,000p.m)
Oregon<£ Trans-Continental—St’ck(for $50,000,000)
Trust bonds, gold (1st M. collateral) $20,000 p.m..
Oswego <i Rome—1st mortgage guaranteed.............
Inoome mortgage bonds'.........................................
Convertible bonds .................................................
Oswego <e Syracuse—Stock, 9 per cent guar.............
Consol, mortgage (guar. D. L. A W.)......................
Construction M., guar. prln. A hit. (for $1,000.000)

706
610
497
28
35
....

1886
1886
1886
1881
1881
....
1874
1875
1876
1877
1882
1884
1884
’69-’70
1874
1880
1887
1881
1883
1880
1879
1885
1882
¿882
1865
1866
1866
1876
1883

$1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 Ao.
1,000
1,000
1,000
1,000
1,000
1.000
100
1,000
1,000
1,000
100
1,000
1,000
1,000
50
1,000
....

$

6
5

f
. ì
2,000,000
1,030,000
2,100,000
2,100,000
11,157,200
1,692,000
500,000
1,100.000
2,000,000
200,000
498,000
750,000
491,500
400,000
1,970,000

7
6
6
6
41*
4**
4
7
7
5

9,020,000
2,610,000
25,000 p.m.
24,000,000
5.690,000
9,155,000
14,931,000
40,000,000
10,063,000
350,000
152.000
107.000
1.320,400
438.000
668,000

6 g.
7
6 g.
I 1*
6 g.
5 g.
6
1)*
6 g.
7
7
7
4 1*
7
5

5*
6
6

J. & J. N, Y., Meroa’le Trust Co.
1936
A. A O.
Cincinnati, O.
1926
J, & D. N. Y. Central Trust Co. June 1, 1936
J. A D. N.Y., Corbin Bank’gCo.
J. A D.
do
J. A J.
Boston, Office.
M. A S.
do
J. A D.
do
M. A 8.
do
F. A A.
do
J. A D.
do
do
do
J. A J.
do
J. A D.
do
J. A J. Boston, N. E. Trust Co.

June 1, 1921
June 1, 1921
Jau. 1, 1887
March 1,1894
June 1,1895
Sept. 1, 1896
Aug. 1. 1897
Deo. 1, 1897
1904
1904
1889 A ’90
July 1, 1894
Jan. 1,1910

J. A J. Last paid June, 1884.
A. A O. Last paid Oct., 1884.
A. A 0. New York aud London.
Q —F. N.Y., Farm. L. A Tr. Co.
J. A J.
do
do
J. A D.
New York Agency.
F. A A. N. Y. Union Trust Co.
Q .-J .
VI. A N. N.Y.,Farmers’ !,. A T.Co.
M. A N. N.Y.,Farmers’ L.AT.Oo.
F. A A. N. Y., Central Trust Co-

July L, 1921
April 1, 1933
Oct. 1, 1900
April l, 1887
July 1, 1909
June 1,1925
Feb. 1. 19 ¿2
Oot. 15, 1883
May 1, 19?«
May, 1 9 )/
beb„ 181"
286f
F. A A. N. Y „ Del., L. A W. RR. Feb., If
M. A S.
do
do
190
\1. A N.
May, 1923

The new general mortgage for $16,000,000 was authorized under Blue Mountain, 20 miles; Pendleton to Oentreville, 17 rail»«; Palouse
the plan of reorganization, by whleh $12,784,000 was reserved J motion to Oolfax, 39 miles; Colfax to Moscow, 28 miles; Umatilla to
to exchange for old bonds as they mature; $2,216,000 used in Huntington, 217 miles: total, 715 miles. Ocean line between San Fran­
»aylng overdue coupons and all other claims; and $999,693 expended cisco and Portland, 670 miles; Puget Sound lines, 275 miles; River
or new equipment and terminal facilities.
lines, 363 miles; total of water lines. 1,308 miles.
Gross earnings Jan. 1 to vfaroh 31, 1837, were $996,944, against
In June, 1835, the consol, mortg. was made at the rate of $25,000 per
$354,368 in 1886; net, $326,701, against $¿03,339 (V. 41, p. 6 1, 137, mile and $6,000.000 reserved to take up the old raort. bonds. There Is
304, 887, 431,575, 694; V. 43, p. 73, 162, 275, 363, 459,487, 5 1 4 , a sinking fund of over $60.000 per year, and if the tiustees cannot buy
548; V 41. p. 60, 185, 309.)
bonds at 110 they must draw them at par eaoh year. The Farmers’ Loan
Ohio Ac N orthw estern.—Road from Cincinnati,O., to Portsmouth, A Trust Co. Is the trustee.
O., 103 miles, and ou miles more to Galllpolis under construction. The
In March, 1881, a majority of the stock of this oompany was trans­
Ctn. & Eastern, sold in foreclosure Jau. 5,1887, was purchased oy this ferred to the Oregon Trans-Continental Company, and by latest aooounts
company.—V. 44, p. 59. The authorized 1st mortgage bonds are that Company held 139,413 shares.
$2,000,000 at $12.000 per mile, and seconds $1,200.000 at $7,ooO per
In April.. 1887. a lease to the Oregon Short Line RR., guaranteed by
mile. Stock authoriz d, $3,209,000; issued, $1,960,000. (V. 44, p. 421.) Union Pacific, was made on the basis, as reported, of 6 per cent per
Ohio R iver.—Road extends from Wheeling. West Va , to Point annum ou the O. R. & N. Co.’s stock. An exhaustive report on the O. R.
Pleasant, West Va., 169 miles, and in progress to Huntington, West Va., A Nav. Co. was oulilished in the Chronicle, V. 44, p. 141.
40 miles. The stock outstanding is $3,290,700. In 1886 earnings on
From July 1 to Mareh 31 gross earnings were $3,986.541 in 1836-87,
90 miles were $197,970 gross and $83,782 net. Geo. W. Tho upson, against $1,176,488 in 1885-86; net, $1.755,789, against $1,915,029.
President, Parkersburg, W. Va. (V. 44, 434.)
The annual report for the year ending June 30, 1886, was la the
Ohio Southern.—The road will extend from Springtleld, Ohio, Chronicle, V. 43, p. 594, 606. The inoome account was as follows :
to some point on the Ohio River. Length of road completed and in
INCOME ACCOUNT.
operation Deo., 1886, Springfield, Ohio, to Wellston, with extensions
1882-83.
1833-84.
and branohes, 143 miles. Stock (par $100), $3,840,000. Gross earn­
1884-85.
1835-86."
ings In 1884. $473,001; net, $141.314; Interest paid, $ tl6 ,l0 0 .
$
9
v 9
$
5,361,906
Gross in 1885, $468,553, net, $173,182; interest on debt, $126,377; Gross earnings....... 5,100,512
4,032,118
5.546,542
Net earnings ......... 2,394.046
surplus for year. $46,622, Alfred Sully. President.
2,393.450
1,482,760
2,460,046
95.167
301,444
Old Colony (M a a a .)—Owns from Boston to Provlnoetown, Mass., Other receipts........
133,903
5,229
120 miles, auu lines to Kingston, Plymouth, Somerset Juuotlou, New
Total Inoome. .. 2,489,213
Bedford, Lowell and Fitchburg, Mass., and to Newport, R. I.; total,
2,694,894
1,621,661
2,465,272
Oiabursements—
369 miles; numerous branohes. 85 miles In all; leased—Fall River
145,429
Railroad, 12 miles; Dorchester & Milton Railroad, 3 miles; total Rentals paid .........
354,180
124,037
1,731
444,270
440,160
iery3?r.
dll lines, 469 miles. Fall River Railroad was leased April Interest on debt__
529,165
750,289
1,1882, for 99 years. In March, 1883, consolidation with the Boston Dividends.............. 1,584,00)
1,800,000
1,090,000
1,560,000
(9)
(71*)
Bedford was made and an increase of stock to Rate of dividend ..
d 1*)
, (6 4)
79,23)
$12,000,000 was voted. In May, 1884, the Lowell A Framingham was Mis. and sink. fund..
79,8*5
119,0)1
111,273
«
on 4he terms given in V. 33, p. 540, and the 4 1* per cent bonds
of 1884 were Issued. The annual report for 1885-86 was in V. 43, p.
2,252,9 29
2,674,195
1,852.3 >3
2,423,203
546, and had the following:
Balance, surplus... *226,284
120,699 DM. 230,680 jSur.41,979
INCOME ACCOUNT
‘ Adding bonds retired by slaking fan l during the year m ikes surplus
1882-83.
1883-84.
1884-85,
1885-86.
$63,000 larger than here given, t Deducting $91,000 for depreciation
$
$
$
9
of steamers leaves a deficit for the year of $70,30 ). 152,106 was spent
Gross earnings........
4,249,179 4,191,872 4,251,186
4,528,032 for betterments, etc., leaving a deficit of $10.132
Net earnings . . . . . . .
1,228,441
1,296,503
1,281,056
1,302,929 —(V. 43, p. 132, 191, 238, 399, 459, 549, 594, 6 0 6 . 603. 635. 672, 719;
Other receipts.........
74,676
68,993
79,334
89,931 V. 44, p 60, 91. 141, 204, 212, 276, 309, 392, 434, 486, 551, 621.)
O r e g o n S h o r t L in e .—Road from Granger on the Union Pacific
Total Income....
1,303,117 1,365,501 1,360,390
1,392,860
■
A
A
A
(156 miles east of Ogden) to a junction witli the railroad of the Oregon
Disbursements—
Railway
& Navigation Co., at Huntington, Oregon, 541 miles, with Wood
Rentals p a id ..........
191,001
46,614
45,594
32:694
Interest on debt......
446,476
556,866
551,424
582,531 River branch to Ketchum, 70 miles. Total 610 miles. The connec­
Dividends............
tion
through
was made In November, 1 881. Built under Union Paolflo
603,006
723,989
733,122
761,747
Rate of dividend ..
control, and interest on the bonds guaranteed by that oo npany. The
7
7
7
7
stock
is
$
11,073,600
Union Pacific owns a mtjority of the stock and
Improvein’t account
57,634
38,032
25.250
15,885
$2,195,000 bonds. This company, in Apr.l, 188 7, leased the Oregon
Total disburse’ts 1,303,117 1,365,501
Railway
A
Na^.
Co.’s
lines
for 99 years, agreeing to pay the interest on
1,360,390 1,392,861
-(V . 43, p. 646.)
bonds and 6 per cent on stock; the lease being guaranteed by Union Pao.
Gross
earnings
in
1886,
$1,942,107; net, $591,686; taxes. Ao., $97.BeU.—
Jfap)—From Monroe, oa the Jacksonville Tam
i ° Oakland,
Like Apopka, 34 miles, and extensioi 310; balance, $507,376. For 1885 gross earnings were $1,833,190,
B^niPmeHason the Gulf. The bonds are 5-20s against $1,059,200 in 1884; net, $557,959, against $238,640 in 1884.
firan^aR?itredeemed after Jan., 1892. Tney are guaranteed bv th< (V-_42, p. 156. 272, 304, 387, 575, 664; V. 43, p, 103, 217, 368, 516 *
and ar®issued at $>,000 per mile. Bondi 635, 774; V. 44, p. 149, 185, 309.)
b7 G risw old& Gillette In 1887, whose olroulai
O r e g o n Ac T r a n s -C o n t in e n t a l.—Company organized under the
Slate „ f
>r?>ad pa88eiL through the most fertile lands of thi laws or Oregon on June 27, 1881, and received from the “ Villard Pool’*'
E l a n d
the most thrifty oraoge belt of the State. It If a^4 assignment of the stockof the North. Pac. Railroad purchased by It.
on
h ln U a a r °
bua{ness, and earning more than the interest ..-l-he assets on Jan. 10, 1887, varied only slightly from those given In
and mininmoJidebt. These bonds are a first and only lien on the roac the Chronicle of May 29,1886 (V. 42, p. *¡61), which included 139.412
bvfh«^ n S ’ S i in addition are guaranteed principal and interest shares of O. R. & Nav. Co., 53,830 of N. Pao. pref. and 79,251 of N. Pao..
L
o
n
ReR Bivestment Company, which owns large mills at common. In Deo., 1885, the company arranged a new lo in for $4,050,teingwood that are earning over $40,000 a year net ”
000, at 5 per cent, for three years, secured by collaterals. The balance
mhes^Aih*™ C a U fo rn la .—From Portland, Or.', to Ashland, 341 or the unfunded debt, amounting to some $3,573,000, was carried on
m ^ ^ i i W
^ *
12 miles; West Side Division, Port demand and short loans. (See financial report in V. 43, p. 162.)
to a
hmshed, 451 miles; to be completed
Total authorized capital to $50,000,000. The bonds may be redeemed
present Or*&nn
at tke California State Une. The at 105; they are secured by deposit in trust of first mortg. bonds on
gon ^ Cai[fn^i}o&i^ ,14Lor^ RR- 18 a reorganization of the original Ore new branch railroads, at $20,000 per mile; also secured by trattle con­
grant to » H
n ^ C^ ° mpany TTa s ln aefault after 1873. The land tracts with the Northern Pacific RR. Co. guaranteeing a minimum net
ferred stock
9 non nnnacres 5 bonds are receivable for lands. Pre annual income of $1,400 per mile, being equal to 6 per cent per auIn Tannare
common $7,000,000.
num on $20,000 per mile of bonded indebtedness, and a sinking fund
Foreclosuresiiitnnd’p^fnault 3 a8 made aud receiver was appointed. charge of one per cent. The roads thus mortgaged are: The No. Paolfic Fergus A Black Hills RR. of Minn., 117 miles, $2,342,000; Little
FaUs & Dakota RR., of Minn., 88 m., $1,757,000; Jamestown & Vorth®rn RR. of Dakota, 102 m.. $2,050,000; Fargo A Southwestern RR. of
• ■ » y g S S M B s m k s . ? s y s » * ' °'
m-* $1.748,000; Sanborn Cooperstown A Turtle Mountain
37 m., $730,000; Rooky Mountain RR., Montana, 52 rn., $ ,034.
g g - 066:
w O ; Helena & Jefferson County, ¿Ora., $402,000; total, 50 s mUesat $20,000 per mile—$10,063,009 in bonds. (V. 42, p. 207, 664, 783;
V. 43, p, 162; V, 44 p. 118.)
*
O s w e g o Ac R o m e .—Owns from Richland, N. Y.. to Oswego, N. Y.,
29 miles. R >ad opened Jan. 1, 1886. It is leased to the Rome WaterE ' H oes
■Sdensburg RR. at 8 per cent on Its stock ($275,000 com. and
’
^ e s» "ataha June, to Pomeroy, 30 miles; Walla Walla t< $75,ooo pref.) and 7 per cent, on guar, bonds, pref. stock being repre­
sented by cony, bonds. $32,100 of bonds due 1870 are yet outstanding.

i




84

INVESTORS’

SUPPLEMENT.

[V ol . XLIV.

Subscriber« w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these Tables.
Bonds—Princi­
INTEREST OR DIVIDEND.
DESCRIPTION.
pal,When Dne.
Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
or explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Bonds
Value.
Road.
on first page of tables.
Owensb oro A Nashville—1st mortgage, gold............. 123
84
Collateral trust (4u0,000.)......................................
48
Panama —Stock............................................................
48
General mortgage, sterling, (£697,800)............... .
48
Sinking fund subsidy, g o ld ................................... .
Paris A Decatur-S ee Terre Haute & Peuria.......... .
15
Paterson A Hudson—Stock........................................ .
PennsyVo ama—Stock................................................... 2,036
Ger,. M ., Ph. to Pitts., coup., J. & J.; reg., A. & O
State 11en (pay’blem annual inst’lm’ts of $460,000)
Consol. M „ coup. J. & D., & reg. Q.—M. (s. f. 1 p. c.)
Consol. mortgage, gold........ ...................................
Bonds, reg. (P.w. & B. stock deposited as collat’l) 571
Collateral trust loan (coup., but may be reg.).......
Car Trust certs, (in series payable ijoth yearly)..
Navy Yard bonds reg. (extended 20 years in ’81)
Penns y Ivania Company—Stock................................. 3,317
Reg. bonds, secured by P. Ft. W.& C. special stock
Bond b, gold, secured by pledge and guarantee—
Penney Ivania A New York—1st mort., guar............. 105
1st m ortgage, guaranteed........................................ 105
Pennsylvania Schuylkill Volley—S tock ...................
1st m ortgage bonds, registered............................... 112
Pensacola A Atlantic—1st m. g, (guar, by L. & N.).. All.
47
Peoria A Bureau Valley—Stock..................................
Peoria Decatur A Evansville—Stock.......................... 254
1st mort., gold (Pekin to Mattoon).......................... 110
1st mortgage (Evansv. Div.).................................. 135
P. D. & E. 2d mortgage, gold................. ................
Car Trusts (payable $48,000 per annum............... • •••

1867
1880

$1,000
5,000
100
£200
1,000

1870

50
1,000

1881
1883

1873
1879
1881
1883
1875
1877
1881
1866
1866
1833
1881
... .

1.000
1,000
1,000
1,000
1,000
50
1,000
1,000
1,000
1,000
50
1,000
1,000
100

1880
1880
1886

1,000
1.000

• •••

• •••

(Pledged)
$260,000
7,000,000
3.489.000
2,687,000
630,000
98,521,300
19.999,760
1,9 32,071
27,482.930
4,998,000
8,174.000
9.900,000
7,790,000
1,000,000
20,000,000
2,177,000
13,217,000
1,500,000
1.500.000
4.970.000
6. 100.000
3,000,000
1.500.000
8.400.000
1,287,000
1,470,000
2,088.000
229,000

6
6
2
7
6

g. M. &
g F. &
J. &
g. A. &
g. M. &

N.
A.
J.
O.
N.

New York.
do
New York, Office.
London.
New York.

Nov. 1, 1931
Aug. 1, 1883
July l , 1885
’88 t o ’89 & ’97
Nov. 1, 1910

4
2ifl
6
5
6
5
4
4*3
5, 4
5
4
6
4*ag.
7
7

New York.
J. & J.
M. & N. Philadelphia, Office.
Q .-J . Philadelphia & London.
A. & O. Philadelphia, Office.
Q.—M. Philadelphia & London.
do
do
J. & D.
do
do
J. & J.
J. <fe D.
do
do
Philadelphia.
Q'rt'rly
J. & J. Phil.,Pa., Co.,Iorins.&c.
Pittsburgh, Co.’s Office.
Q .-J . Phila. Tr. 8. D. & I. Co.
J. & J. N. Y., Nat. City Bank.
J. & D. Phila., B’k N. America,
do
do
J. & D.

"5
6
4

J. & D. Philadelphia, Penn. RR. Deo. 1 , 1 9 3 5
F. & A. N. Y „ Comp’ys Agency. Aug. 1,- 1921
Feb., 1887
F. & A. N. Y., Chio., K. I. & Pae.

6 g• J. & J. N. Y., Central Tr. Co.
do
M. & 8.
6
do
M. & N.
5
do
Various
7

Jan. 2, 1887
May 31, 1887
1910
Annually.
June 15,1905
Dec. 1, 1919
July 1, 1921
June 1, 1913
1891-93
Jan. 1, 1901
For 1883
July 5, 1907
July 1, 1921
June 1, 1896
June 1, 1906

Jan. 1,1920
8ept. 1, 1920
Nov. 1, 1927

O s w e g o Sc Syracuse. -Owns from Oswego, N. Y., to Syracuse, burg <fe Erie operated by the Pennsylvania Company. The account for
Iff. Y., 35~miles. Leased in 1868 to the Delaware Lack. & West. RR. Co. the years 1884.1885 and 1886 was as follows:
or 9 per cent per year on stock and interest on bonds.
INCOME ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY.
O w en sb oro Sc N a s h v ille .—Owns from Owensboro, Ky., to Adair1886.
1884.
1885
vllle. Ky., 84 miles. Controlled in 1879 by the Nashville Chattanooga Net income Penn. RR. Division.$10,185,529
3,974,970
$8,153,685
Sc St. Louis, and now operated by Louts. & Nash. RR., which owns a Net loss New Jersey Division . 179,016
159,497
593,536
majority of the stock. The $2,000,000 1st M. bonds are pledged for the
3,795,954
$7,994,188
B alance........... ................... $9,591,993
collateral trust bonds. Gross earnings for 1884-85, $165,137; net,
this balance deduct :—
$37,580. Gross in 1883-4, $101,138; net, $15,832. Stock is $1,156,517. From
Advances to Pennsylvania Co.
P a n a m a .—Owns from Aspinwall to Panama, 48 miles. Opened
$1,000,639
$667,093
$ ............
($1,667,733)............................
through Jan.28,1855. Of the general mortg. bonds $500,000 fall due in Payments to trust fund.............
58.621
69,895
600,000
five half-yearly payments beginning April, 1887, and balance in Oct., Consol, mortgage redeemed___
324,800
324.830
277,460
1897. The $2.687,000 subsidy bonds are secured by a pledge of the Allegheny Val. RR.—Deficiency
701,576
698,390
698,320
sum of $225,000 annual subsidy payable to the U. S. of Colombia by Fred. & Penn. Line RR.
15.000
15.000
do
15,000
the company. In Juue, 1881, most of the stock was sold to parties Am. 88. Co.—To meet iut. guar.
90.000
90.000
............
interested in the De Lesseps Panama Canal Co. The report for 1886 was Settlement of balances under
In Chronicle , V. 44, p. 465, showing net income of $645,360, and a
411,972
trunk Une pool in 1886...........
..........
surplus of $118,58L over ohaiges. (V. 42, p. 455, 4 8 6 ; V. 44, p. 212, For destruction of property at
4 6 5 .)
285,000
New Brunswiok, N. J
P aterson Sc H u d so n .—Owns from Jersey City, N. J., to Pater­
$1,560,780 $ ¿ ,160,666 $2,542,150
son, N. J., 15 miles. The road was opened in i834, and leased Balance to credit of inoome. .. $8,001,213
$6,253,904
$5,803.522
In perpetuity September 9,1852, to the New York & Erie, at a rental of Dividends............................... .. . 6,560,787
4,738,892
4,738,892
$48,400 per year, and is operated by the New York Lake Erie & Western Rate of dividend...................
(7)
(5)
(5)
as part of its main line. J. 8. Rogers, President, New York City.
$1,514,912
$1,064,630
..
$1,440,426
Credit of profit and loss....
P e n n sy lv a n ia .—(See Map)—Line of R oad —The Pennsylvania sys623,756
363.355
tern embraces about 5,639 miles of railroad, including all east and west Balance of old aocoants, &o.. .. 1,020.692
o f Pittsburg. At the close of 1886 the mileage operated east of Pitts­
$861,156
$70l,27a
$416,734
Balance................. .......... .. .
burg & Erie, on which earnings as reported were based, was divided as Add profit and loss Jan. 1 ... .. . 13.613.184
14,032.918 14,734.193
follows: Pennsylvania Division and branohes, 1,568; Philadelphia & Balance profit and loss Deo. 31.$14,032,918 $14,734,193 $15,625,349
Erie Division, 287; United Railroads of N. J. and branohes, 466; total
- ( V . 42, p. 137, 157, 255. 272, 285, 30 1. 304, 30 8, 339, 379, 397, 549,
operated, New York to Pittsburg, with branohes, 2,322.
Organization. L eases, &c.—The charter of the Pennsylvania Rail­ 597, 647, 664, 768,781; V. 43, p. 115, 132, 245, 352, 338, 431, 516, 635,
774;
V. 44, p. 149, 276, 288, 30 7, 3 1 2 , 401, 466, 551, 621.)
road was dated April 13,1846, for a line from Harrisburg to Pittsburg.
The line froih Harrisburg to Philadelphia was under other organizations,
P en nsylvan ia C om pany.—The Pennsylvania Company is a cor­
Including the State Railroad, and the Harrisburg Portsmouth Mt. Joy & poration chartered by the Pennsylvania Legislature, April 7,1870, dis­
Lancaster is still operated under a lease though forming part of the tinct from the Pennsylvania RR., and it operates all the leased lines west
main line. Road opened in 1854. The great number of leases, both east of Pittsburg. The stock is owned by the Pennsylvania RR.
-and west of Pittsburg, were made for the most part under the adminis­
The registered bonds are seoured by deposit of $4,000,000 of Pittsb. Ft.
trations of J. Edgar Thomson and Thos. A. Scott in the few years preced W. & Chic, special stook. The gold bonds of 1921 are seoured by a deposit
tag 1873. The terms of the leases will be found under the names of the in trust of the leases of the Pitts. Ft. W. & Chic, and the Cleve. & Pitts,
respective leased roads.
railroads and are also guaranteed by the Penna. RR. Co. The trustees
The Pennsylvania Company was organized in 1870 as an auxiliary of the mort. are Wistar Morris, Edmund Smith and 8. M. Felton. The
Corporation to control all the lines west of Pittsburg & Erie, and the sinking fund is 1 per oent per annum if the bonds can be bought at par.
Pennsylvania RR. Co. holds all the stook of the Pennsylvania Company.
The whole number of miles operated or in any way controlled
Stock and B onds.—The Pennsylvania Railroad stock has been in­ by this company is 3,317. The income account of the company showed
creased from time to time, ohiefly by the sale of stock at par to stock­ net profits over all liabilities, including fixed charges, of $1,867,883 in
holders, for the purpose of raising oapital for new acquisitions or better­ 1882; $872,829 in 1883; defioit in 188 4 of $710,220; deficit in 1885 of
ments. The dividends paid each year since 1870 have been—in 1871, $1,091,671; deficit in 1886 of $200,674.
1872,1873 and 1874, 10 per cent each year; in 1875 and 1876, 8 per
P en nsylvan ia Sc N ew Y o r k (Canal and R a ilw a y ).—Owns
cent each year; in 1877, 4 ; in 1878, 2 ; in 1879, 4 *2 ; in 1880, 6 ana 1 from
Pa., to N. Y. L. E. & W. RR. near New York State
er cent in scrip; in 1881, 8 ; in 1882, 8*2 ; in 1883, 8
in 1 884,7; Line, Wilkesbarre,
104 miles. Branohes to mines, 23 miles. Operated in connection
1 1885 and in 1886, 5.
with
the
Lehigh
Valley
Railroad as a northern outlet. Common stock,
The prioes of the stook yearly in Philadelphia since 1875 have been— $1,061,700, and preferred
stook, $4,000,000. Gross earnings in 1883-84,
I n ’76, 45®583s; i n ’77, 243s®49; in ’78, 27®35
in ’79, 323s «51% ; $2,151,338; net, $609,544.
Gross in 1884-85, $1,827,460; net, $325,in ’80, 48«67*4; in '81,59^2®70»8; in’82.5378@65i4; i n '83, 56jf>®6l%; 010. Seven per oent dividend paid on preferred stock in 1835.
in *84, 4934®61; in ’85, 45% »56*8; in ’86, 513s «eOH; in ’87 to May
P
en
n
sylvan
ia
S
ch
u
ylkill
V a lle y .—Owns from Philadelphia to
20, 54® 60.
In March, 1881, the company purchased 217,819 shares of the Phila New Boston, Pa. 101 miles, and Frazer to Phoenixvide. 4 0 miles.
This
was
formed
in
1886
by
the
consolidation
of several companies, and
Wilm.& Balt RR., and the 4 per cent bonds secured by P. W. & B. stook
are purchased yearly at not over par with the surplus proceeds of Ph is controlled by the Pennsylvania RR. Co. The bonds are owned by the
Pennsylvania
RR.
aud
issued
in
pieces
of
$100,000,
convertible into
W, & B. dividends aud not needed for the payment of interest.
The collateral trust loan of 1883 is secured by the deposit of mortgage $1,000 bonds. There is a sinking fund of 1 per cent. Gross earnings in
1835,
$360,482;
operating
expenses.
$400.585.
Gross
in 1886, $532,bonds of subsidiary lines to the par value of $12,500,000.
Operations, Finances, <&c.—The total cost to the Pennsylvania Rail­ 143; net, $41,491. J. N. DuBarry, President. (Y. 42, p. 61.)
road Co. of the stocks and bonds of other companies held in its treasury
Pensacola Sc A tla n tic.—Pensacola, Fla., to River Junction, Fla.,
was, up to Deo. 31,1886, $104,261,043 (par value of the same $137,- 162 miles. Road completed Feb., 1883. Operated by Lou. & Nash, sinoe
371,026, most of which is represented on the other side of the balance Jan., 1885, and oonnects its system with the roads of Florida and So.Ga.
sheet by issues of Penn. Railroad stock and bonds and other debit items Stock, $3,000,000. In addition to the bonds above given there are
the balance to credit of “ profit and. loss” was $15,625,348.
$975,000 6 per oent land grant bonds issued to the Louis & Nash., RR.
A scheme to buy up the company’s guaranteed securities with 1 per Earnings for year ending June 30,1886, $294,616 gross and $33,679
cent of the net income per year is in operation, and he entire amount net; interest on bonds, $180,000; other interest, $38,666; taxes, $19,paid by the company into the Trust up to the end of 18ao was $3,828,• 539; construction, $19,950; deficit, $224,496.
517. There had been purchased for the fund securities of the par
Peoria Sc B u reau V a lle y .—Owns from Bureau Junction to Peo­
value of $5.135,150. ■which yielded an interest of 6 83 per cent per ria, 111., 47 miles. The road was leased in perpetuity April 14,1854, to
a nnu m upon mo purchase price.
the
Chicago & Rook Island Railroad at a rental of $125,000 per annum.
From Jan. 1 to March 31,1867, gross earnings on lines east of Pitts
Peoria Decatur Sc E v a n sv ille.—Owns from Pekin to Evansville,
burg and Erie were $12,270,992, against $10,892,866 in 1886; net,
$4,030,449, against $3.524,925 in 1886. Surplus on lines west of Pitts­ 235 miles; branch—Stewartsville, Ind. to New Harmony, Ind.. o
miles; leased, Pekin, 111., to Peoria, HI., 10 miles; through Decatur,
burg and Erie, $536,024 in 1867, against defioit of $168,470 in 1886.
The report for 1886, was in the Chronicle, Y. 44, pp. 307 and 312 3 miles; total, 254 miles. This road is a consolidation of the
Pekin
Lincoln A Decatur RR. (formerly leased to the Wabash) and the
A summary of the total business of 1886, compared with previous
Decatur Mattoon A 80. and the Grayvifle & Mat. The road is operated
years, is shown in the following:
in
harmony
the Evansville & Terre Haute. In Deo., 1886, stock­
EARNINGS ON ATT, LINES BOTH EAST AND WEST OF PITTSBURG & ERIE holders votedwith
to exchange the inoome bonds for 5 per cent 2d mortgage
1884.
1885.
1886.
bonds, and the exchange was made in March, 1887. (Bee full statement
Gross earnings...................... $97,849,875 $92,994,549 $101,697,981 of the company and balance sheet in V. 44, p. 552.) Annual report for
Operating expenses........ .
64,434,317
61,6^0,901
67,102,714 1886 in V. 44, p. 342. Gross earnings in 1886, $814.744; net, $33o,Net e a r n in g s ............. $33,415,558 $3l,3o3,646 $34,595,267 981; gross in 1835, $736.984; net, $247,655. ' V. 42, p. 363,463, 519,
The income account below embraces all receipts and expenses of the 575; V. 43. p. 162. 275, 335, 368, 459, 487, € S i 766; V. 44 p. 149, 212
Pennsylvania Railroad proper, but not including the roads west of Pitts- 276, 309, 3 4 2 , 552.)

S




BOND-'

AND
STOCKS
RAILROAD
1887/
[M a y ,




86

INVESTORS’

SUPPLEMENT.

[V o l . XLTV.

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
DESCRIPTION.
>al,When Due.
Miles Date Size, or
Amount Rate per When ¡Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable]
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Peoria A Pekin Union—le t mortgage, gold, coupon
Second mortgage, gold (issued for incom es).......
Perkiomen—1st mortgage................................ — •
Consol, mort., gold, guar. P. & B., (sink. fu n d)....
Peterborough (N. H.)—Stock................................. —
Bonds (not mort.), redeemable after 1882 ............
Petersburg—S to ck .......................................................
Guaranteed pref. stock, 6 per cent........................
1st mort. bonds (payable $25,000 yearly).............
Mortgage bonds, class A ..........................................
Mortgage bonds, class JO..........................................
Philadelphia A Balt. Central—Stock..........................
1st mortgage (for $2,500,000)...............................
Westchester & Phila., 1st mortgage......................
Philadelphia A Erie—Stock, common..................... .
Preferred stock, special...........................................
1st mort., Sunbury <feE. (extended 20 years in ’77).
2d mortgage................................ - ............
General M., g., guar by Pa.RR.($5,263,000 rg. 5s)
Debenture bonds, reg. (redeemable at any time).
Phila. Oermanl’n A Chestnut B ilb - 1st mort., gua
Philadelphia Germantown A Norristown—Stock. ...
Philadelphia Newtown A New York—Stock..............
Bonds, guar, by Phila. & Read., coup................... .
Philadelphia A Reading—Stock, common.................
Preferred stook........................................ .........
Receiver’s ccrtincatea outstanding Nov. 30, 1886
Mortgage loan, sterling, coupon............................
do
dollars, coupon...............................
do
convertible, coupon.......................
Mortgage loans, coupon..........................................
Consol, mort. ($8.162,000 are gold 6s) cp. or reg
Gen. mort., gold, $ and £. cp.($5,000.000 are 7s)

20
20
38
38
11
63
82
79
79
27
287
287
40
287
287
7
29
21
846
816

1881
1881
1867
1873
1877
1869
1881
1881
1881
1871
1857
1868
1869
1885
1883

1884
1843
1843-9
1857
1868
1871
1 1874

$1,000 $1,500,000
6 g. Q --F . N. Y., Central Trust Co.
do
do
4Jag. M. & N.
1,500,000
1,000
Norristown, Pa.
A. «fc 0.1
6
100
799,600
ÔO
do
1,125,000
1,000
6 g. J, <&D.|
Nashua, Treasurer.
M. <fe N
3
385,000
100
A. & 0. Boston, N. E. Trust Co.
6
50,000
500 &c.
7
100
1,000,700
323,500
3
50
Petersburg, Va.
y. <fe j
300,000
8
do
j. & j ,
5
643,000
A. <fe O.
6
800,000
2,495.650
50
M. <fe N. Phila. Company’s Office.
5
l.Ot'0,000
1,000
do
do
A. & O.
1,100,000
7
100 «fee.
7,975,000
50
Philadelphia, Pa. RR.
2.400,000
50
A. & 0. Philadelphia, Pa. RR.
976,000
7
1,000
do
do
J. <fe J.
3,000,000
7
1,000
1,000 13,943,000 5 & 6 g. Various Philadelphia <fe London.
4>s F. <& A. Philadelphia, Penn.RR.
1,470,000
1,000
4 ^ ¡M. <fe N,
1,000
1,000,000
Q - M . Phila., Treasurer of Co.
3
50
2,231,900
1,200,000
50
A. «& O. Phila., 227 So. 4th St.
700,000
6
100 «fee.
Philadelphia, Office.
21«
50 39,474,911
do
do
638,850
50
3*8
2,835,370
4, 5, 6 1 . . . .
London.
|j. <fe J.
6
967,200
£500
|j. <fe J. Philadelphia, Office.
1,499,500
6
1,000
do
do
1J. & J.
6
74,500
500 <fec.
do
do
A. <fe O.
2,700,000
7
1,000
200 «fee. 18,811,000 6 g. or 7 J. <fc D. Last paid June, 1886
1.000 24,686,000 7 <& 6 e IJ. & J. Last paid July, 1884

Feb. 1, 1921
Feb. 1, 1921
Apr. 1, 1887
June 1, 1912
Nov., 1886
Oct. 1, 1897
Jan. 3, 1887
Jan., 1887-’98
July 1, 1926
Oct. 1, 1926
Nov. 1, 1911
Aprili, 1891
Oct. 1,
July 1,
July, 1,
Feb. 1,
M a yl,
June 3,

1897
1888
1920
1915
1913
1887

Oct. 1, 1897
Jan. 25,1876
July, 1876
July, 1910
July, 1910
July, 1910
Oot. 1. 1893
June, 1911
July 1. 1908

Peoria Sc Peltln U n ion .—Owns from Pekin to Peoria, 10 miles burg, and the Jersey Shore Pine Creek & Buffalo and other lines, form
on each side of 111. River; total operated, 20 miles. The road is a union |the connecting roads to the N. Y. Cent. <fe H. at Geneva and Lyons, N. Y.
Organization, L eases, &c.—The Philadelphia & Reading Company
road, and the stook of $1,000,000 was taken by the different Peoria
RR. companies, and they pay a rental for use of the road and also pay was chartered April 4,1833, to build from Philadelphia to Reading, and
terminal charges. See full description in V. 36, p. 253. Opened Feb., on May 13,1872, the Mount Carbon Railroad was merged and became
'1881. In 1885, gross receipts, *397,506; net, $168,437; balance part of the main line. Road opened Philadelphia to Pottsville In Jan.
over interest and rentals, $4.286. Gross receipts in 1884, $429,847; 1842. Tne Philadelphia «& Reading Co. leases a number of roads In
net, $174,369; balance over interest and rentals, $71,889. A. L. Hop­ Pennsylvania, including the Catawissa, Chester Valley, Colebrookdale,
East Pennsylvania, Little Schuylkill, Mine Hill, 8ehuylkill Valley, Phila­
kins, President, New York.
delphia Germantown & Norristown, Philadelphia & Chester, and some
P erk io m en .—Own from Perkiomen Junction, Pa., to Emaus minor roads; also the North Pennsylvania Railroad and Delaware
Junction, 39 miles. The road was leased for 19 years from Aug. 1, & Bound Brook, forming the line from Philadelphia to New York. In
1868, to Phila, & Reading RR., and bonds guaranteed by the lessees; but May, 1883, the Central or New Jersey was leased, including the leased
the property was surrendered and all control given up in May, 1879. lines of that company in Pennsylvania, but after failure to pay the
Stock subscription, $38,040. A proposed plan of reorganization pro­ lental and a decision that the lease was never legally valid, the Jer­
vides for cancelling present debt and issuing a new mortgage for sey Central Road was given up Jan. i. Ib87. The fiscal year ends
$2,250,000. Net earnings in 1883-84, $99,20!; in 1884-85, $121,537. November 30. The annual election is held early in January.
Interest on debt, $115,476. (V. 44, p. 335.)
The Philadelphia <& Reading Coal & Iron Company is a corporation
P eterborou gh .—Owns from Wilton to Greenfield, N. H., 11 miles. formed (Dec. 12,1871) for the purpose of owning and working the ex­
Completed Jan. 1, 1874. and leased by Nashua & Lowell Railroad tensive coal properties of this company. The Phila. & Read. RR. Co. owns
for 20 years from 1873 at 6 per cent on cost of the road. Edward all the stook ($8,000,000) of the Coal & Iron Company.
The P. & R. RR. and the Iron Co. were in the hands oi receivers from
Spalding, President, Nashua, N. H.
May, 1880, to May, 1883. Again in June, ’ 84, receivers were appointed.
Petersburg. —Petersburg, Va., to Weldon, N. C., 63 miles. In May
Stock and Bonds.—The preferred stock is of small amount, and did
1877, a receiver was appointed, but steps were taken by second mort- not receive any dividends after 1880. The dividends paid on Phila­
age bondholders to prevent a sale, and reorganization was made with delphia & Reading stock from 1870 to 1875, inclusive, were 10 peroent
323,500 preferred stock and $1,000,700 common stock. $440,000 Class each year; in 1876 2*« per cent was paid and nothing since.
“ A” bonds are still in hands of Central Trust Co., of which $350,000 are The range of P. & R. stock yearly m Philadelphia since 1875 has been:
reserved to retire old 1st mortgage 8s. In 1885-86, gross earnings, in 1876, 18*2 0155; in 1877, 10®20%; in 1878, 1130319%; in 1879,
$359,596; net, $160,934 ; in 1884-85, gross, $345,128 ; net, $157,095. lltg® 3 7 58; in 1880, 6%®36is; in 1881, 2538®37%; in 1882, 23*8®
—(V. 42, p. 9 2 ; V. 43, p. 608.)
338s; in 1883, 23La®301a; in 1*84, 812®30J4; 1835, 638@1278; in 1886.
P h ila d elp h ia Sc B altim ore Central.—Philadelphia to West- 9 1«® 27; in 1887, to May 2 0 ,1714@237e.
©hester, 26 miles; Westchester Junction to Octoraro Md., 46 miles;
The bonds in the table above are arranged with the mortgage bonds
leased Chester Creek Railroad, 7 miles; total operated, 79 miles. This placed first, then the plain debentures, income bonds, scrip, &c. Under
was a consolidation, Oct., 1881, of the Philadelphia & Baltimore Cen­ the sinking fund clause the right has been claimed by Mr. Gowen to pay
tral and the Westchester & Philadelphia railroads. Of the new dock off the general mortgage bonds at any time on proper notice. The
Philadelphia Wilmington & Baltimore RR. holds nearly all. In 1884-85. trustees of the general mortgage of 1874 hold the bonds of the Coal
net earnings. $181,799. In 1885-86, net earnings, $166,129; surplus & Iron Co., viz., $29,737,965 mortgage of 1874 and the Philadelphia &
Reading Co. also holds the $10,000,000 mortgage of the Coal & Iron
over chargee, $20,859.
P h ila d elp h ia Sc E rie.—Owns from Sunbury to Erie, 287 miles. Co. dated 1876.
The Deferred Income bonds have a claim for 6 per cent interest only
Formerly Sunbury <feErie RR. It was leased to Pennsylvania RR. for
999 years from Jan. 1. 1862, the lessees to pay 30 per cent of gross after 6 per cent has been paid on the stock. In January, 1883, the con­
vertible
adjustment scrip was issued, secured by $4,000,000 income
eoeipt as rental, but modified January 1, 1870, so that actual net
receipts are paid as rental. The general mortgage is guaranteed by the mortgage. Tne new consol, mortgage dated in 1882, due iu 1922, was
issued
in
adjustment of certain liabilities. In addition to the bonds
Pennsylvania Railroad and the interest on the 6s is paid J. & J., on the
5 per cents A. <fc O. The unpaid coupons are held bv the lessee for ad­ above given there are real estate mortgages of the P. & R. RR. Co. for
$*,098.200
and of the Coal & Iron Co. for $769,837.
vances, and by terms of adjustment in Jan., 1885, made with the Penna.
Railroad Co. the P. & E. issued $1,500.000 debenture bonds at 4 ^ per
Operations, F inances, «fee.—The Philadelphia & Reading Co. has
cent, secured by the overdue coupons held as collateral.
been the largest of the anthracite coal carriers, and through its auxiliary,
Gross earnings from January 1 to March 31, 1887, wei e $843,849, the Philadelphia & Reading Coal & Iron Co., became a large owner of
against $742,496 in 1886; net, $359,345, against $o04,Sll.
coal lands. Between 1870 and 1876 the P. <fe R. increased heavily its
Last report was in Chronicle, V. 44, p. 273, giving the following:
capital account in the purchase of new properties, and after paying 10
per cent dividends for some years ceased to pay after Jan., 1876.
INCOME ACCOUNT.
In May, 1880, the company suspended payment and on May 24
1885.
1886.
1884.
receivers were appointed and held possession till .day, 1383. Bui In
Receipts—
1883.
Gross earnings....... $4,108,843 $3,660,146 $3,292,253 $3,708,485 June, 1884, the company again went into receivers’ hands, partly owing
Net earnings............ $1,488,020 $l,45-i,0-0 $1,292,880 $1,465,953 to the lie ivy charges on Central of N. J. lease, while coal profits also
,.
„
8,471
10,s36 declined largely.
9,120
Rents........................
4,892
In Feb., I88d, the Drexel-Morgan syndicate of bankers was formed,
with
a
proposed
capital
of
$15,000,000,
for
the
purpose
or
effecting
Total income__ $1.492,912 $1,467,200 $1,301,351 $1,476.789
1,187,713
1,339.328 reorii.nizaiiou. (See Chronicle, V. 42, p. 216 andp. 394.) The plan of
1,27 «,575 Rt.250,218
Total disbursem’ts
organization approved by the “ reconstruction trustees ” representing
Surplus___ . . . ____
$215,33 7
$2.0,9&2
$113,638
$137,461 houdh- lders and the company, and by the syndicate, was publi-hed at
length in the chronicle of March 27, ■886, on p. 394, &e., and after
—(Y. 42, p. 270; V. 44, p. 273.)
the. agreement with Mr. Gowen in Sept., 1886, under which Mr. A. Corbin
P h ila d elp h ia G erm an tow n Sc Chestnut H i l l . —In Philadel­ became President, the complete plan as modified was published iu the
phia from Germantown Juno., on Connecting Railway, to Chestnut Hill, Chronicle of Dec. 18, oil p. 747; (V. 43. p. 747).
6 % miles. From May 1, 1883, leased for 3o years to the Pennsylvania
For four mouths from Dec. 1, 1886, to Starch 31,1887, gross earnings
RR. Co., which guarantees 4*2 per cent on the bonds. Gross earnings in of t ie P. & R. and P. & R. 0. & I. Co. were $11,207,249, against $9,755,188 ■, *108,162; operating expenses, $Li6,405. Gross in 1886, $140,- 847 in 1885-6; net, $3,095,852, against $1,633,733 :n 1885-6.
The annual report for the year ending Nov. 30,1886, was in V. 44, p.
77 3 : net, $7,404.
P h ila d elp h ia G erm an tow n Sc N o r risto w n .— Philadelphia. 89, and gave the income account as below, including the Central
Pa., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles; Ply­ of New Jersey leased liues. From this report it appears that the floating
mouth Railroad, 9 miles; total, 29 miles. The property was leased debt and “ current liabilities ” of the P. & R. and the Coal & Iron cost
Nov. 10,1870, to Philadelphia & Reading Railroad for 999 yeftrs at a Nov. 30, 1886, were $29,779,273, against $25,070,177 the previous
rental of $269,623 and $8,000 yearly for organization expenses. Divi­ year, an increase of $4,7 9,096. The details of the P. & R. RR. Co. s
unfunded debt were as follows:
dends of 12 per cent per annum are regularly paid.
Nov. 30,’85.
Nov. 30, ’86.
P h ila d elp h ia N ew tow n Sc New Y o rk .—Owns from Erie Ave.,
$7,103,890
$6,721,805
Bills
payable and loans..........................
Philadelphia, to Newtowu, Pa., 21 miles. Capital stock, $1,200,000.
2,747,857
2,835,370
Ou Novemher 10, 1879, the Philadelphia <fe Reading Railroad purchased Receivers’ certincates........... ...............
3 364,501
5,342,743
Leased
roads
and
canals—
rentals..........
12,012 shares (whioh gave control of the property) and guaranteed the
4,694,427
8,219,814
bonus, the r< ad is operated in connection with the P. & R. system Unpaid interest and dividends.............
474,271
521,467
Connecting
loads
....................................
Earnings in 18*4-85, $73,928, expenses, $-f ,2->2; deficit, $8.353.
454,356
492,415
Account of current business..................
in i 8s5-* 6 earnings were $80.450; expenses, $8o,629; deficit, $6,179.
1,400,971
Wages,
drawbacks.
<feo..............................
1,842,990
P h iladelph ia Sc B ea d in g.— L ine of Road—Owns main line.
592,350
3*2,054
Phi uueipnia to Mount Caib.,n, Pa., 98 miles; branches owned, 228 Taxes ou stock and receipts........................
miles; leased lines, 679 miles; roads controlled, 107 miles: total oper­
$20,832,623
$26,301,658
ated in 18>-7 about 1,013 miles. These leased lines include the No. Penn,
The Coal & Iron Co.’s floating liabilities on Nov. 30, 1886, wore
and Delaware <te Bound Brook roads, from Philadelphia to Bound
$1,855,363,
against
$*,809,499
on
Nov.
30,1885.__
*
JBrook, N. J., and branch to Trenton. The Shamokm Sunbury & Levis-

f




R A IL R O A D STO C K S

M a t . 1887.J

DESCRIPTION.
MUes Date Size, or
Par
of
For explanation of column headings, Ac., see notes of
Road. Bonds Value.
on first page of tables.
1873 $1,000
Phtla. <* Read.—( Cont.)—Improvement mort., gold
1,000
1876
1882 500 Ao.
Cfcnsol? S 9 S S M ser.igoidffor $80,bop,6'66).
1883 500 Ac.
do
2d senes (for $80,000,000).......
1868 100 Ao.
Debenture loan, coup...............................................
1873 100 Ao.
do
convertible, coupon............. .
1877 10 Ao.
Scrip deben. and guar, bonds, currency. . . . . . . . . . .
1877 90 Ao.
Scrip general mort. and Perklomen, 6, sterling..
1882 50 Ao.
Deferred Income bonds............ - ................ ...........
Deferred income scrip..............................................
1883
Conv. adjustment scrip ................... - ......... ........ -•
1883
Car trust certificates.............................................
1884
do
do
............................... ....... - —
18*2-4 500 Ao.
p. A R. Coal A I., purchase money mort. bonds...
1,000
1872
do
debenture loan........... ........... .
100
39
Philadelphia <t Trenton—Stock..................................
50
Philadelphia Wilmington <£ Baltimore—Stock......... 506
1,000
1887
Plain bonds, registered............................................
1872-4 1,000
do
.......................................................... —
1.000
1875
do
.............................................. ...............
1880
do
........ . ................................ ................
1,000
1886
30
Piedmont d Cumberland—1st mort ...................... .
1883
1,000
Pine Creek.—1st mort., guar......................................
78 1882
Pitteb. Oleve. d Toledo—1st mortg., gold, int. guar..
1,000
Pilte. C. at St. L.—1st M., consol., reg. anil coup........ 199 1868
1,000
2d consol, mortgage................................................. 199 1873
1,000
125 1864
1st mort., 8teub. A Ind., extend, in 1884, reg—
1,000
33 1864
Col. A Newark Division bonds................................
Holliday’s Cove RR. mortgage bonds...................
1,000
1868
149
Pitteb. d Oonnellsville.—1st mortgage......................
10 1859 100 Ao.
1st mortgage Turtle Creek division.......................
£200
Consol, mort., guar. B. A O. (s. f. £7,200 pr. yr.)..1 149 1876
2d oonsol. mortg., gold (pledged for B. A O. bonds). 149 1885 100 Ac.
GROSS AND NET RECEIPTS.
1885-86.
1884-85.
1883-84.
Gross receipts........ .................. $47,450,848 $44,643,966 $46,373,811
34,253,954
32,015,069
Gross expenses.............. .......... 34,054.314
Net earnings........................$13,396,534 $12,628,897 $12,119,857
The lnoome account was brie By as follows :
INCOME ACCOUNT.
1885-86.
1884-85.
Net receipts, both companies ..........................$12,628,897 $12,119,857
From this deduot: For the Railroad Co.—
Debit balance, profit and loss........... ...............
$62,895
$82,430
State tax on oapital stock............... ................
30,653
18,898
All rentals and full interest due, inolu ling
dividends due on C-nt. of N. J stock.......... 16,184,453
15,804,595
Deduot: For the Coal A Iron Co.:
Full interest on all obligations other than
those held by the Railroad Co........................
940,997
984,684
$17,226,778 $16,882,827
Deficit of both companies.................................. $4,597,881
$4,762,970
—(V. 42, p. 23, 61, 91, 91, 157, 216, 234, 272, 304, 339, 365, 393, 394.
431, 462, 464, 488, 519, 549, 601, 632, 675, 694, 728 ; V. 43, p. 23, 102.
103,131,133, 245,275,368, 399,431, 459,516, 547, 635, 672, 719, 738.
747; V. 44, p. 22, 61, 89, 90, 185, 212, 244, 276, 309, 344, 401, 431.
459, 466, 527, 544, 551, 586.)
Philadelphia A: T ren ton .—Owns from Kensington, Pa., to Mor
rtsville, Pa., 26 miles and Tioga Branch, 1 mile ; leased—Trenton Bridge
Connecting Railroad, 7 miles, and Frankford A Holmesburg Railroad, 4
miles : total owned and leased, 39 miles. On Dec. 1, 1871, it was
leased with the United Companies of N. J. to the Penn. RR., at 10 per
cent on stock, and is operated as a part of its New York division.
Philadelphia W ilm in g to n & B altim ore .—Mileage as follows:
Philadelphia Wilmington A Baltimore RR., 122 miles; Philadelphia A
Baltimore Central, 79; Delaware RR., 100; Queen Anne A Kent RR.,
26 ; Delaware A Chesapeake, 55 ; Cambridge A Seaford RR., 27; Del.
Md. A Va. RR., 98 miles ; total operated, 506 miles. Owns over half the
slock ei the Phil. A Balt. Cent.
This road on the main route, Philadelphia to Baltimore, has been
, 4 paying regular dividends, with a considerable surplus. From
1868 dividends of 8 per cent on the stock have been paid each year. In
£Prlh 1881, nearly the whole stock was purchased and is held by Penn
RR. Co. For four years the income account was as follows :
INCOME ACCOUNT.
1882-3.
1883-4.
1884-5.
1885-6.
$
. $
$
$
Gross earnings........... 5,741,672
5,820,323 5,678,588
6,004,764
Receipts—
Net earnings.............. 1,675,897 1,855,178
1,783,816
1,862,630
Other receipts.............
109,348
133,496
122,373
146,378
Total income........ 1,785,245 1,988,674
1,911,189
2,009,008
Disb ursements—
$
$
$
$
B ratals paid................
285,329
331,338
386,631
367,650
Interest on debt..........
211,778
201,485
200,000
200,000
Taxes......................
48,234
47,682
47,686
47,697
Dividends, 8 p e rct...
943,604
913,604
945,548
945,548
Miscellaneous.............
150,133
14,543
11,674
13,605
Total dlsbursem'ts... 1,639,078 1,538,653
1,591,542
1,574,501
Balance, surplus..........
146,167
450,016
319,647
434,507
—(V. 42, p. 126; V. 44, p. 185 )
* ^ “ “ » b e r la n d .—Road extends from Piedmont. West
Va., to Cumberland, Md*. 30 miles. It connects the West vr rpnimi a.
Pennsylvania RR. system, and has a traffic con­
tract from the Pennsylvania Railroad. Stephen B. Elkins, President
Corum «crAAkR ^ d 0758^6w JlwCtioili0 ? ewberry Junction, Pa., on the
o U1rf*4 ®
75miles. Formerly Jersey Shore Pine Creek &. Butb
e ween
t w ePhiladelphia
i n W S n hA?Reading
/ ^ . ^ B,rook
% N.
Co7,
f o i Zand
a conuectton
Dei
hues and
Y. and
Central
bonds am
guaranteed by these companies and t h « f i n m i n » r> a . a ’ « ... * » , „ ___
that Æ ln t o r « CT ^ ian^ 8 and the Coming C. A A., on the condi.I v i oil " guarantors shall advance money for interest if nnodnd and

*16M98i

39, p. 607 ) In the

8838

*132- ^




t

AND

87

BONOS.

Bonds—Princi­
INTEREST OR DIVIDENDS.
pal,When Due.
Amount Rate per When Where Payable, and by Stock»—Last:,
Outstanding
Whom.
Cent. Payable
Dividend.
$9,364,000
4,995,000
4,403,328
2,441.052
652,200
6,203.900
557,569
1,791,510
24.673.400
894,690
2,110,730
1,400,000
822,000
12,261,000
1,117,000
1,259,100
11,819,350
1,000,000
700,000
800,000
1,000,000
650,000
3,500.000
2,400,000
6,863,000
2,500,000
3,000,000
134,000
120.000
4,000,000
326,600
6,292,000
10.090.000

6 g- A. A O. Last paid April, 1886
J. A D. Last paid Deo., 1883
7
5 g- M. A N. Last paid May, 1884
5 g. F. A A. Last paid Feb., 1884
J. A J
6
Last paid Jan., 1884
J. A J. Last paid Jan., 1884
7
J. A J. Last paid Jan., 1884
6
6
J. A J. Philadelphia A London.
Nothing ever paid.
6
Nothing ever paid.
6
6
J. A .1. Last paid Jan , 1884.
6
F. A A. Last paid Feb., 1886
6
M. A 8. Last paid March, 1886.
6 A 7 Various Philadelphia, Office.
M. A S. Last paid March, 1884.
7
Q.—J.
Philadelphia, Office.
2ia
4
J. A J. Pliil’delphla, Co.’s Offloe
4
A. A O.
do
do
6
A. A O.
do
do
6
A. A O.
do
do
5
T. A D.
do
do
5
F. A A.
New York.
6
J. A D. Phila. P. A R. RR. Co.
6
A. A O.
New York.
F. A A. Phila., Pa., RR. Offloe.
7
A. A O.
7
do
do
am J. A J. N. Y., Nat City Bank.
7
J. A J. Phila., Pa. RR. Offloe.
6
F. A A.
do
do
7
J. A J. Balt., Balt. A Ohio RR.
6
F. A A. Plttsb., First Nat. Bank
6 g. I. A J. London. J.S.MorganACo
5 ir. F. A A.
New York Agency.

Oot. 1, 1897
Deo. 1, 1896
May 1, 1922
Feb. 1, 1933
July 1, 1893
Jan. 1, 1893
July, 1877-84
July, 1882-85
Irredeemable.
Irredeemable».
Jan. 1, 1888
1892 to 1894
1892
April 10.1887
Jau. 1, 1887
April, 1917
Oot. 1. 1892
April 1. 1900
June, 1910
Aug. 1. 1911
Dec. 1932
Oct. 1, 1922
Aug. 1, 1900
April 1, 1913
Jan. 1,1914
Jau. 1.1890
Feb. 1,1893
July. 1898
Aug. 1, 1889
Jan. 1, 1926
Feb. 1, 1925

miles. This wm a consolidation of several companies, May 1, 1868, in­
cluding tli« Steubenville A Indiana aud the Pan Handle roads. This com­
pany is controlled by the Penn. Compauy, through the ownership of a.
majority of ItsstocK. The P. C. A St. L. also has leases of the Little Miami
ana its dependencies. Common stock, $2,508,000; first nref. $2,929,200;
second preferred, $3,000,000; par value of shares, $50. Authorized
amount of 1st mort. $10,000,000, of which $3,137,000 reserved.
The report for the year 1886 said: “ The tonnage transported was
4,864,889tons, against 4,086,386 tons in 1885. again of 798,503 tons,
the larger portion of which was in local tr ifflo. All classes of freight
show an inorease, except ore, live stock and agricultural products. The
coke traffic shows an inorease of ab rat 57 per cent, or 112,038 tons.
The gain in the volume of coal was also quite large. There was an in­
crease in freight earnings of $711,122 42. The average rate receivedper ton per mile was Q2io mills as compared with 5»,0 mills for the pre­
vious ye tr; and while the average oust was increased, the result was an
Increased profit on this class of traffi c. There were ca.Tied 1,321,432
passengers as compared with 1,281,427 iu 1835, there being a gain in
local, and a loss In through travel.”
The statistics of the report for 1886 were in V. 44, p. 342. Compara­
tive statistics for the four years, 1883-’86, are as follows:
1383.
1884.
1885.
1886.
Total gross earnings.
4,623,740
4,015,257
4,033,623 4,752,596,
Op. exp. and taxes..
3,087,465
2.731,960
2,631,633 3,130,690
Net eamiugs..............
1,536,275
1,313,297
1,351,990 1,621,906
P.o.of op.ex.to cam ’s
66-77
67-53
66-43
65-87
INCOME ACCOUNT.*
1883.
1884.
1885.
1836. .
Receipts—
$
$
$
$
Net earnings.......... .
1,536,275
1,313,297
1,351,990 1,621,906
Rentals arid interest
8,784
4.624
4,835
4.974
Net from l’sed roads.
401,132
423,531
378,330
432,897
Miscellaneous...........
589
Total Income.......
Disbursements—
Rentals paid.............
Interest on fund, d’bt
Other Interest...........
Int. on C. AM. Val.bds.
Loss on St. L. V. AT. H.
“ CimAMus. V. RR.
Miscellaneous..........

1,946,191
$
856,345
714,490
231,216
105,000
82,534
10,418

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

1,735,744
$
830,881
646,990
178,615
52,500

2.059.77Ÿ
$
931,518
646,990
133,104

66,91/

14,172;
Total................... 2,000,033
1.888,682
1,775,903
1,725,784
Balance ..................... def.53,842 def.147,210 def. 40,159 sur. 333,993.
* Exclusive of Col. Chic. A Ind. Cent.

GENERAL BALANCE AT CLOSE OP EACH FISCAL YEAR.
1883
1884.
1885.
1886.
Assets—
$
$
$
RR.,equipment, Ac.. 20,605,107 20,798,277 20,870,740 20,965,392
Stocks owned, cost..
1,085,967
1,085,967
1,085,967
1,085,967
Bonds owned, c o s t..
23,730
23,750
23,750
Betterm’tstol’s’dr’ds
20,318
21,744
38,17
16,021
Bills A aects. receiv..
1,107,502
1,119,287
1,036,391
951,613
Materials, fuel, A c...
474,337
292,014
389,995
330,697
Cash on hand............
317,725
258,918
276,134
322,045
Cin. Str. Conn. R y ...
64,639
64,639
64,639
64,639
Profit A loss balance
232,415
396,124
428,482
119,300
Total assets........ 23,908,010 24,060,720 24,214,263 23,879,426
Liabilities—
$
$
$
$
Stock, common........
2,508,000 2,508,000
2,508,000
2,508,000
Stock, preferred.......
5,929,200 5,929,200 5,929,200
5,929,200
12,617,000 12,617,000 12,617,000 12,617,000
All other duesA aco’ts 1,692,961
1,451,050 2,013,724
1,680,136
Due Little Miami RR.
847,360
845,826
845,826
845,290
DueC. C.A I.C.RR..
Cin. Street Conn.bds.
262,500
262,500
262,500
262,500
Miscellaneous............
50,989
447,144
38,018
37,298
Total liabilities
23,908,010 24,060.720 24,214,268 23,879.426
—(V. 42, p. 366, 54T; V. 43, p. 245; V. 44, p. 3 4 2 .)

nx?*£ttsi*>ur g * C o n n e ll.v U le .—Owns from Pittsburg, Pa., to
Mt. Savage June., Md., 147 miles; branch, 2 miles; leased lines, 22 miles;
iq 't/V m mM?8, -Leased to the Balt. A Ohio Railroad since Jan. 1,
w1,,e cViJr. °* Baltimore transfen ed its interest to the Balti­
more
Railroad for $1,000,000, and the consolidated sterling mort­
p * £• A T. bonds (see terms in V.
gage was made and guaranteed by the Baltimore A Ohio, of wiiioh
is reserved to retire the prior bonds. It is operated as the
Pittsburg Division of the Baltimore A Ohio RR. In 1884 the Balt. A
Ohio issued Its bonds for $10,000,000 secured by pledge of the above 2d
rrao,ri 2 ? f ? of the Pittsburg A Connellsville RR. Stock is
$1,944,400. la 188o-86gross earnings, $2,430,085; net were $842,421.

S H

? S” Ä

88

INVESTORS’ SUPPLEMENT.

LVo l . X L I V .

Subscribers.w ill confer a great favor by givin g Im m ediate notice o f any error discovered In these Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or Amount
Par
Rate per When Where Payable, and by Stocks-—Bast
of
For explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Road. Bonds Value.
Cent. Payable
on first page of tables.
April
5, 1887
$100 $19,714,286
Q .-J . N. Y., Winslow, L. A Co.
468
1\
Pittsburg Ft. Wayne A Chicago—Stock, guar..
ipril 1, 1887
do
do
100 10,776,800
468 1871
Q .-J .
1%
Special Improvement stock, guaranteed.......
July
1, 1912
do
do
Various
5,250,000
7
1st mort. (series A to F) i Bonds all coupon, but 468 1862 500 «fee.
July 1, 1912
do
do
Various
7
2d do (series G- to M) > may be made payable 468 1862 500 & 3. 5,160,000
July
1,
1912
ao
do
A. & O
7
468 1862 500 «fee. 2,000,000
3d mortgage........ . — ) to order.
1,000
1,440,(100
6 g. J. & J. New York A Pittsburg. July, 1922
414 1881
Pittsburg Junction—1st M., gold........ .......................
in
1886
50
6
70
2,050,000
Pittsburg A Lake Erie—Stock.....................................
1. 1928
1,000
70 1878
2.000,000
1st mortgage, gold, coupon.....................................
6 g- J. & J. N. Y., Phila. A Pittsb. July
July 1, 1885
50
Q .-J .
62 1884
3,000,000
l»s
Pittsburg McK. A l'oughiogeny—Consol, stk., guar .
July
1,
1932
N.Y.,
Union
Trust
Co.
J.
&
J.
6
1882
1,000
2,250,000
1st mortg., guar........................................................
July 1, 1934
do
do
J. & J.
6
62 1884
1,000
750,( iOO
2d mortg..........................................................*.........
1916
J.
&
J.
62
1886
1,000,000
5
Pittsburg Gainesville A Fairport—1st m ortgage....
April 1, 1912
Philadelphia.
A. & O.
1,000
3 000.000
5
70 1882
Piil8 0 . Va. A Charleston—le t mortgage, gold...........
July 1, 1921
1,000
4,125,0*0
6 g. J. & J. Last paid Jan., 1885.
Pittsburg A Western.—1st mort., g. (for $6,000,000) 120 1881
April 1, 1911
A. & O. Last paid Oct., 1884.
1,000
800,000
6
103 1881
1st mortgage. Pitts. Brad. & Buff..................
1911
363,4'
10
Consol, mortgage.............................................
A. <fe O. N. Y., First Nat. Bank. Oct. 1, 1899
7*5,000
7
218 1879
Port Huron A Northwestern—1st mortgage...
Mar.
1, 1922
do
do
M.
&
8.
1882
6
218
920,000
Consolidated mortgage...................................
F. & A.
135,000
218 1881
7
Equipment mortgage.....................................
24
500,
<109
Port Jervis Monticello A N. T.—Stock...............
J. & J. N. Y., 252 Broadway. Jan. 1, 1899
112 1878 100 &C.
250,000
6
P ort Royal A Augusta—1st mortgage...............
1898
6
112 1882
112,000
2 d mort., endorsed by Central G a ................
J. & J. N. Y., Nat. City Bank. July 1, 1900
630,000
7
68 1880
Augusta & Knoxville mortgage...... .
Jan.
1, 1899
N.
Y.,
252
Broadway.
J.
&
J.
100
&c.
1,500,000
6
1878
'General mortgage income bonds, co u p ..................
Jan., 1900
60 1870 500 <&c.
800,000
Portland A Ogdensb.—1st mort., g o ld ...........
6 g- J. & J. Last paid July, 1883.
Nov.,
1901
Last
paid
May,
1883.
M.
&
N.
94
1871
100
«fee.
2,377,000
6
g.
Consol, mortgage (for $3,300,000)................
July, 1886
Portland.
• 53
590,800
3
Portland A Rochester—Stock ($600,000).........
J«n.
15,1887
Boston,
Office.
J.
A
J.
100
1,500.000
3
51
Portland Saco A Portsmouth—Stock.................
1,000
400,000
7 g. J. & J, N.Y., Farm. L. A Tr. Co. Jan. 1, 1906
29 1866
Portland A Willamette Valley—1st mort., gold
Jan. 1, 1887
J. & J. Portsmoutn, Treas,
11
100
769,000
3
Portsmouth A Dover—Stock...............................
J. A J. Boat., Eastern RR. Co. July 15, 1373
100
73
1,150,300
3
Portsmouth 01. Falls A Conway—Stock...........
July 2, 1937
do
do
J.
A
D.
500
«fee.
4*9
73
1877
1,090,000
1st mortgage....................................................
P ittsbu rg F o rt W a y n e A Chicago. Owns from Pittsburg, Pa.’ several roads dated June 15, ’81, and in ’83 Pitts. Brad. & Buffalo was
to Chicago, ID. 468 miles. The company made default Oct. 1,1857. and acquired. In July. 18rf4, leased the Pittsburg Cleveland & Toledo RR.,
•gain in 1859,’and was foreclosed Oct. 24,1861, and reorganized under making a line to Akron, O. Operated in the Baltimore & Ohio interest.
this title Feb. 26,1862. On June 27,1869, the company l;ased all its Stock, $7,250,000. In addition to above bonds, there are about
road and property to the Penn. RR at a rental equivalent to interest, $300,000 other issues, for which 1st mortgage bonds are reserved.
sinking fund of debt, and 7 per cent on $19,714,286 stock, which was Guarantees, with Baltimore & Ohio, the Pittsburg Junction bonds. On
increased at that '«dine from $11,500,000. The lease was transferred March 23,1885, James Callery and J. W. Chalfant of Pittsburg were
subsequently to the Pennsylvania Company. The lessees are to keep appointed receivers.
_
....
The plan of reorganization (in the Chronicle, V. 44, p. 370) prothe road in repair and also pay taxes, expenses, Ac. The rental ana
interest charge is about $3,126,000 per year, and the profit to lessees poses to issue a new 1st mort. gold for $10,000,000 at 4 per cent, and
had been large; in 1884 and 1885, however, there was a loss to lessee. $5,000,000 of pref. 5 per cent stock, and $7,000,000 common stock.
The Pitts. Ft. Wayne & Ch io. leases the Newcastle & Beaver Val. and the The committee was J. Lowber Welsh, Jno. T, Terry, C. H. Coster, A. J.
«Lawrence roads, which in turn are leased again by the Pennsylvania Co. Thomas. The road will be sold June 8. In 1884-85 gross earnings,
The first mortgage bonds are in six series lettered A to F inclusive, $844,793 ; net, $230,175. In 1885-86, gross earnings, $1,091,463;
•of $875,000 each series, the interest on “ A” series being payable J an. net, $334,028. James Callery, Pres., Pittsburg. (V. 43, p. 399; V. 44,
.and July; on “ B” it is February and August; on “ C” it is March and p. 370, 544.)
„
. „ ... „
Port H u ro n A Northw estern.—Port Huron to East Saginaw,
September; on “ D” it is April and October; on “ E” it is May and Nov.,
•and on “ F” it is June and December. The second mortgage is also in 91 miles; Saginaw Junction to Sand Beach, 58; Port Austin to Palms,
six seriesof $860,000 each, lettered H to M inclusive (J omitted), and the
interest is payable Jan. and July on “ G” series, Feb. and Aug. on “ H,”
March ana Sept, on “ I,” April and Oct. on “ K,” May and Nov. on “ L,”
BH
__
a n d June and Dec. on “ M. The bonds are coupon, but may be regis- John P. Sanborn, President, Port Huron. Mich.
P ort Jervis M on ticello A N. Y .—Owns from Port Jervis, N
ifcered payable to order. Of the 1st mortgage bonds, $1,633,500, and of
the 2d mortgage $1,949,500, and $823,767 cash, were held in the sink- Y., to Monticello, N. Y.. 24 miles. Was sold in foreclosure July 16, 1875,
to g funds Jan. 1, 1887. The special improvement stock is issued to and again sold out in Nov., 1886, and then reorganized under present
Pennsylvania RR. for improvements, Ac., under article 16 of lease, title. H. R. Low, Middletown, President. Gross earnings in 1884-85,
which provides that the lessee may issue special bonds or stock, and $20,530; net, $5,355. Gross in 1885-86, $10,720; net, $1,944. (V. 43,
•ays: “ The said party of the second part shall guarantee the payment, p. 309, 579.)
P o r t H o y a l A A u g u s t a .—Owns from Port Royal, 8. C., to Augus­
aemi-annually or quarterly, thereon of such rate of interest as may be
agreed upon between the parties hereto, to be paid by the said party of ta, Ga.. 112 miles. Leased in Sept., 1883, the Augusta & Knoxville road,
the second part to the holders thereof without deduction from the Augusta, G»., to Greenwood, S. C., 68 miles, for 99 years, at 4 per cent
rent hereinbefore reserved; and the said special stook, or bonds, or on stock of $127,639, and assuming the bonded debt. Formerly Port
other securities, shall be issued only in respect to improvements of and Royal Railroad. Defaulted Nov. 1,1873, and receiver appointed May 9,
.additions to the said railway which, and estimates and specifications 1875. Sold in foreclosure June 6,1878, and purchased for the bond­
o f which, shall have been submitted to and approved by the said party holders, who organized this company. The Georgia Railroad was en­
dorser on $500,000 of the old bonds. The stock is $750,000, and in
•of the first part in writing.” * * *
It was proposed to change the terms of the ease so as to issue bonds June, 1881, a controlling interest was purchased by Central Georgia RR.
t o the lessee Instead of the special guaranteed stook, but this was not parties. Gross earnings in 1885-86, $452,113; net, $58,102. In 1884-85,
gr"8s $412.164; net, $58,148.
^
«consummated.
P o r t la n d A O g d e n s b u r g .—Owns from Portland Me., to Fabyans,
Operations and earning« for four years oast we^e as below; in the gross
«the net profits on leased lines are inoluded, and in the net the earnings 91 miles. It reaches the Vermont Division (now St. Johnsbury & Lake
Champlain) by using 14 miles of the Boston Concord & Montreal RR.
¿paid to the C. & P. road are de iuoted.
and a 3-mile link of its own. In 1876 the company made default on the
Passenger Freight (ton)
Gross Available Div’d
1st mortgage interest and foreclosure proceedings were begun, but com­
Tears. Miles. Mileage.
Mileage.
Earnings. Revenue, p. ot.
•3.882___ 468 140,007,682 991,907,501 *10,957,133 $4,368,465
7 promise was made by giving notes for overdue coupons up to July, 1878.
Interest
is not paid on the consolidated mortgage, of which the city ox
944,563,376 10,965,656 3,747,519
7
1 8 8 3 .. ---------------------.. 468 127,520,075
907,951,237 9,204,314
2,907,465
7 Portland holds $1,350,000. The city of Portland owned a controlling
3.884..
.. 468 110,639.940
.
953,564,515 8,237,156
2,411,451
7 interest in the stock, which is $1,052,186.
3 8 8 5 ..
.. 468 134,613, 04
In March, 188 4, a foreclosure suit was begun and reoeivers appointea
903,083,277 9,129,340
3,083,012
7
1 8 8 6 ..
.. 468 101,370,187
power to issue $200,000 receiver’s certificates was given by the
P ittsburg J u n ction .—From Monongahela River to Allegheny and
Stiver, Pittsburg, Pa., 414 miles, including side tracks and branches, Court. In June, 1885, a decree of foreclosure in six months was made,
Built unaer auspices of B. A O. and Pittsburg A Western, which eompa and a plan of reorganization was stated in V. 41, p. 421; also the plan
2d mortg. bondholders in V. 41, p. 466.
___
nles made an agreement to pay $2 for eaon oar, and guaranteed (separ­ ofGross
earnings in 1881-*5 were $361,993; net, $99,157; gross in
ately) a minimum of $240,000 per annum. In 1886 gross earnings 1885-86,
$361,376;
net,
$121,782.
(V.
42,
p.
126,
728;
V. 43, p. 211,
were $176,000 and net $140,090. Common stock is $960,000. Preferred
672; V. 44, p. 119.)
, „
. _ . ,
.«Stock, $480,000. (V 44, p. 118.)
P
o
rtla
n
d
A
R
och
ester.—Owns
from
Portland,
Me.,
to Roches­
P it t s b u r g A L a k e E r ie .—Owns from Pittsburg, Pa. to YoungsN. H., 53 miles. The old company was put in the hands of a
«town, Ohio, 68 miles; branch line to Newcastle, Pa., 2 miles; total, 70 ter,
February, 1877. Foreclosure suit was begun, but a settle­
guiles. Leased from Jan. 1,1884, for 99 years, the Pittsburg McKeesport Receiver
was made in 1881 by which all the old stook and bonds were con*
„& Youghiogheny R R , from Pittsburg to New Haven, Pa., 57 miles, with ment
verted
into
the stook of the new company. In Nov., 1885, a lease to the
{branches, 5 miles. Scrip certificates for $615,000, bearing 6 per cent Boston A Maine
was made for 50 years. Gross earnings in 1885-80,
interest and payable at will, are also outstanding. This company is $191,503; net, $42,594.
In 1884-85, gross, $181,900; net, $25,272.
^managed in the interest of Lake Sh. & Mich. So.. Gross earn, in 1885,
1,201,312; net, $394,407. In 1886 gross, $1,376,861; net, $375,655.
P
o
rtla
n
d
Saco
A
P
o
rtsm o u th .—Portland, Me., to Portsmouth,
no. Newell, Pres’t, Cleveland, O. (V. 42, p 1 2 4 ; V. 44, p. 91,544.)
H., 51 miles. It was leased May 4,1871, to the Eastern Railroaa
P it t s b u r g M c K e e s p o r t A Y o u g h lo g h e n y .—Owns from Pitts­ N.
Mass.,
at
10
per
cent
on
stock.
rental changed May 21, 187/
burg to New Haven, Pa., 57 miles; branches, 5 miles; total, 62 miles. and now 6 per oent. The Boston Lease
leased the Eastern
Boad opened Nov., 1883, and leased to Pittsb. & Lake Erie RR. for 99 in 1884 with all its leased roads. A Maiae Railroad
^
.
years, 6 per cent on the $3,000,000 stock and principal and interest of
P ortlan d A W illam ette V a lle y .—Line of road from Portlana,
4he bonds being guar. byP. A L. Erie and Lake Shore & M. So. Cos., the Or.,
to
Dundee,
28
8s
miles,
connecting
with
Oregonian
Railroad,
wiwi
guarantees being endorsed on the share certificates and bonds. Gross
it has a freight contract for 15 years. Stock, $130,000.
...
-earnings in 1885, $587,723; net, $320,270; paid interest and dividends, which
P o rtsm ou th A D over.—Portsmouth, N. H., to Dover, N. H.,
-$359,173; deficit, $38,903. W. C. Quincy, President, Pittsburg, Pa. miles.
February 1, 1874, and leased for 50 years to Eastern
P ittsbu rg Palneavlile A F a irp o rt.—Owns from Fairport. O., of New Opened
Hampshire at 6 per cent per annum on the stock. Operate«
t o Youngstown, O., 62 miles. Leased in Deo., ’86 to the Pittsburg A
"Western the 52 miles from Fairport to Niles. The Painesville A Youngs­ now bv Eastern (Mass.) Frank Jones, President, Portsmouth, N. H.
P o rtsm ou th Great F a lls A C on w ay.—Owns from ConwM
town RR. Co. made default, and road was sold in foreclosure June 2,
1879, and reorganized. Sold again in foreclosure June 3, 1886, for Junction, Me., to North Conway, N. H., 73 miles. The Eastern Railroaa
■$4l)0,00o, and P. P. & F. Co. organized. Common stook, $800,000; in Massachusetts has made a lease of the road for 60 years from Dec. x.
1878, with a guaranteed rental of $45,000 a year, which pays 4/s P®*
pref., $250,000 (V. 42, p. 272, 575, 694.)
P ittsbu rg Virginia A C harleston.—From South Pittsburg, Pa., oent on $1,000,000 bonds, and the stock is to receive the same dmaena»
t o Uniontown. Pa., 70 miles. The stock is $1,505,000. The bonds and as the stock of the lessees. Total stock, $1,150,300, of which lessees
$1,251,050 of the stock are owned by the Penn. RR. Gross earnings, own $551,300.
v tn
Poughkeepsie H artfo rd A B o sto n .—Poughkeepsie, N. *•» w
1886, $629,104; net, $252,232. Dividends of $1 50 per share paid in
-March and September, 1885, and 2q> per cent April 4,1887.
P ittsbu rg A W estern .—Owns from Alleghany City, Pa., to New
•Castle, Pa., 64 miles; Callery Junction to Mt. Jewett, 137 miles; Duck 1875. This roaa was sola m ioreoiosure j an. zo, bx, unuex- wxo
Bun Branch. 3 miles; Clarion Branch, 6 miles; other branohes, 2 miles; and again foreclosed in 1886 under a small 1st mort. to give a clear nu»
$47jsw><
total, 212 miles. Leases P. C. A Tol., New Castle Junction, Pa., to Val­ to the property. (V. 38, p. 149.) In 1883 34, gro^s earnings^
GT p . Pelton,
ley Junction, O., 77 miles, and uses 26 miles of Cl. Mt. V. A Del. RR., net, $6,560. In 1884-85, gross. $43,050: net, $6,531.
-Akron, O., to Orville, O.; total, 315 miles. This was a consolidation of President, Poughkeepsie, N. Y. (V. 42 p. 397.)

S




M a y , 1887.]

INYESTOKS’

89

SUPPLEMEN1

T . . k. ^ 7 k7 ™ w 111 c o n fe rà great fkvor by givin g Im m ediate notice o f any error discovered In tb e e e T a blea.
rsrvvnvAT
vm EW ns.
|Amdf-PrinOfc
»qp»cripe ----------------------------------------------------------------------INTEREST or
OR m
DIVIDENDS.
pal,When Due.
d e s c r ip t io n ^
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par
of
Outstanding
For explanation of column headings, Ac., see notes of
Dividend.
Whom.
Cent. Payable
on first page of t a b le s * __________ Road. Bonds Value.
1905
7
$16.000
42 1875 $ __
Poughkeepsie Hartford d
J. À J. Providence,Am. Nat.Bk July 1, 1892
7
500,000
23 1872
1,000
Providence* Spring/.—1st M. (end. by City Prov.).
Jan.
1, 1887
J.
A
J.
Providence,
Office.
3
2,500,000
51
100
Providence d Worcester—Stock........................... **■* •
1897
A. A O. Providence R. I.H.T.Co.
6
1,242.000
1877
....
1,873,000
193
Raieigh <¿ ÄMgu»!«*—Stock '(*1.000,000 pref.)..........
J. A J. Phila.,Pa.,A Ral’gh,N.C. Jan., 1898
8
1,000,000
97 1873
1,000
Raleigh d Gallon—1st mortgage........
Moh. 1, 1912
Phila., Co.’s Office.
M. A S.
5
650,000
40 1862 lÓOAo.
Reading d Columbia—1st m ort, coup, (extended)..
June 1,1904
do
do
J. A D.
5
350,000
1.000
40 1864
2d mortgage, coupon (extended In 1884)...............
Deo. 1, 1917
do
do
J.
A
D.
6
1,000,000
1,000
1877
Debentures............................. . ........ ........••-..........
July
1, 1893
do
do
J.
A
J.
7
350,000
100
Ao.
15 1873
Lancaster & Reading, 1st mortgage......................
J. A J. N. Y., Nat. B’k Com’roe. Jan. 1, 1887
4
8,155,300
100
Rensselaer d Saratoga—Stook. - - . . . . . - -- --.........
Nov.,
1921
N.Y.,
Del.A
H.Canal
Co.
M
A
N
.
7
1,925,000
1,000
1871
79
1st mortgage, consolidated (for $2,000,000)......
4,982,000
7 g. J. A J. Last paid Jan., 1883. July 1, 1920
liooo
Richmond d Alleghany—1st mortgage, gold— ------ 252 1880
M. A N. Last paid Nov., 1882. May 1, 1916
4,000,000
6
g.
1,000
252
1881
Second mortgage, gold........... ..................... .........
1890 to 1895
...... .
.f ..
5
393,000
Car trust certificates......................... ..................... 756
Aug. 15, 1882
Q .-F .
2
5,000.000
100
Richmond d Danville—S tock ............... ........... .
May 1,1890
N.
Y.,
Central
Trust
Co.
M A N.
6
617.500
3d mortgage, (consol, of 1867) coup, or reg. . . . . . 141 1867 100 Ao.
1915
do
do
4,878,000
6 g. J. A J.
1,000
General mort., gold (for $6,000,000)..................... 141 1874
A
p rili, 1927
do
do
A. A O.
6
1,000
CD
1882
Debenture mortgage bonds, cumulative................
Oot. 1. 1936
do
do
A.
A
O.
1,000
1886
»
gID
Consol, mort., gold ($15,000 per mile)...................
1888
A. A 0. N. Y., Cent. Trust Co.
8
500,000
1,000
48 1868
Piedmont branch, 1st mortgage.............................
1902
Richmond.
A. A O.
6
500.000
1.000
29 1873
Northwestern, N. C., 1st mort.,guar.. -................
Jan.
1,1894
do
J. A J.
400,000
8
1,000
38 1873
Richmond York River & Cues., 1st m ortgage......
Nov.
1 ,1900
do
M.
A
N.
6
400,000
1,000
1880
38
do
do
2d mortgage...
Jan.
1,1887.
J. A J.
3
497,000
do
do
Stook guar. 6 p.
1901
London.
5
g.
J.
A
J.
57,327
Rich'(I Irederiekeburg d Potomac—Bonds, ster—
1895-’99 1902
Richmond, Otfloe.
309,594 5, 8 ,7 J. A J.
Dollar loan.............--.......................................... .
1 890
J. A J. Phil.,To wnsehd W. A Co.
150,000
8
Coupon bonds of ................................................. .
1 901
Riohmond,
Otfioe.
M. A N.
6
300,000
Coupon bonds of 1901 ............. .....................
Jan. 1, 1 8 8 7
Richmond,
Otfioe.
3
J.
A
J.
1,000,000
ioo
25
Richmond d Petersburg—Stock.............................
1886
do
do
A. A O.
50,000
8
1,000
25 1870
1st mortgage, ooupon........ .................................
May 1, 1915
do
do
319,000
6 A 7 M. A N.
25 1875 500 Ao.
Consol, mortgage ($50,000 are / s)...................
Providence dc Springfield.—Providence, R. I., to Pasooag, 2«i
miles. It was proposed to extend the road to Springfield, Mass., 80 miles.
Stock Is $516,850. In 1884-85, gross earnings. $92.700; net, $45,545;
interest, $36.163. In 1885-86, gross earnings, $102,563; net, $38,032;
interest, $34,890.
Providence Ac. W orcester.—Owns from Providenoe, R. 1., to
Worcester, Mass., 44 miles; brauohes, 7 miles; total operated, 51 miles.
Notes outstanding are *250,00J. Stockholders can subscribe prior to
Feb. 15, 1887. for $6u0,0i>0 new stock at par. In 1885-86 gross earn­
ings were e l,245,711; net, *371,507. In 1884-85 gross, $1,077,166;
net, $321,507. (V. 43, p. 607, 738.)
R aleigh Ac Au gu sta.—Owns from Raleigb, N. O., to Hamlet, N. C.,
98 miles; Hamlet to Gibson, 10 miles; total, 108 miles. Formerly
Chatham Railroad, and is controlled by Raleigh & Gaston.
R a leig h Ac G a s to n .—From Raleigh to Weldon, N. C.. 98 miles
and Louisourg branch 10 miles. The stook is *1,500,000. In April, ’84,
3 perot dividend paid, 3 in Oct., 1885, and 2 in April, ’86. John M. Rob­
inson, Pres’t, Baltimore. Gross eamlugs for fourteen months ending
Lee. 31, 1885, $542,283; net, $168,148.
R eading Ac C olu m bia.—Owns from Columbia to Sinking Springs,
Pa., 40 miles; brauebes, 8 miles; Lancaster A Reading Railroad,
leased, 15 miles; total operated, 63 miles. Stook, $958,268. The
road Is controlled and operated by Philadelphia & Reading, but
accounts kept separate. The first mort. 7 per cent bonds due 1882
were extended 30 years at 5 per cent, and the 2d 7s due 1884 were ex­
tended twenty years at 5 per cent. Gross earnings in 1884-85, $356,108; surplus, $76,362; 1885-86, gross, $382,358; surplus over interest,
Ac., $60,965.
R ensselaer Ac Saratoga.—Owns from Albany to Lake Cham
plain, N. Y., 79 miles; 1Toy to Waterford Junction, N. Y , 6 miles
Whitehall, N.Y., to Castleton, Vt., 14 miles ; Eagle Bridge to Rutland
Vt., 62 miles; other, 2 miles; leased: Ballston to Schenectady, 15
miles; Fort Edward to Caldwell, 15 miles; total opeiated, 192
miles. It was a consolidation of several lines, and the Delaware &
Hudson Canal Co. leased the whole March 1,1871, at a rental of 8 per
cent on the Btock and interest on the bonds. In the fiscal year end­
ing Sept. 30, 1886, the payments by the lessee oompany for rentals were
$885,187, leaving a surplus of $14,891. Operations have been:
Passenger Freight (ton)
Gross
Dlv.
Net
Mileage.
Mileage.
Earnings. Earnings. p.o.
Years. Miles.
68,780,201 $2,149,043 $764,587
1882-83. 191 29,612,425
8
70.3: 0.754
707,333
1883-84. 192 30,28n.267
2,136.356
8
1884-85. 192 30,766,535
61,978.1'9
2,097,967
721.163
8
1885-86. 192 3.1,578,433
2,280,392
893,392
85,187,168
8
—(V. 42, p. 604 ; V. 43, p. 580.)
R ich m o n d Ac A lleg h an y .—Owns from Richmond to Clifton Forge,
230 nines; branch to Lexington, 19 mites; dock connection, 1 mile;
leased, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. con­
nection, 2 mile-; total, 256 miles. The oompany was chartered Feb. 27,
1879, and acquired by purchase tne properties and franchises of the James
River a Kanawha Canal Co., and the Buchanan & Clifton Forge Railway
Co., Including water rights on James River and terminals in Richmond;
the cost of these in stock and cash was $6,588,609.
The stock is $5,000,000. In May, 1883, default on the mortgage inter­
est was made, and on June 23 receivers were appointed.
The plan of reorganization as changed iu March. 1887, proposed that
the new securities will be $6,000,000 5 per cent firsts; $5,000,000 pre­
ferred stock, and $5,000,000 common. In 1888 2*3 per cent interest
will be paid on the bonds and 5 thereafter. The present lsts will get
100 per cent In new >rsts, 37 per cent In preferred stook and 30 per ct.
In common stock. The 2ds get 53%,per cent in preferred stook and the
common stock gets 70 per ceut in new common, having paid 10 per cent
a-sessment iu all, including $2 10 already paid. The money for the
assessment will be used to pay receiver’s certificates. Earnings from
operations for three years ending Sept. 30 were:
„
1884.
1885.
1886.
Gross earn’gs, inol. rents, docks, &c. $604,083
$589,591
$597,018
Operating expenses........................... 420,104
404,918
438,350

In Nov., 1886, negotiations led to a sale of a large majority of the R. Ac
D. stook to the Tenniuai Company, which then beoame the principal
corporation, and afterward, in Feb., 1887, exchanged its own stook for
the R. A D. stook in the proportion of four shares of Terminal for one o f
Richmond & Danville. The R. & D. stock was thus taken and held b y
the Terminal Co.
The total authorized issue of general mortgage bonds la $6,000,000,
of which part Is reserved to take up prior liens and the Piedmont RR.
bonds. The Interest on the Debenture benda was strlotly cumulative and
they carry unpaid the ooupon of Oct., 1883, and all since, making 24 per
cent April, 1887, and a proposal was made to the holders to Issue
to them in exchange for eaoh $1,000 bond and coupons thereon
new consoL mort. 5 per cent gold bonds—124 per cent coverlug both
principal and interest—and to allow debenture holders to keep their
bonds as security for the principal. The consol, gold mort. of 1886 was
issued for an authorized amount of $11,220,000 to take up the gen. mort­
gage bonds, the debentures and their overdue interest, and the North­
western N. C. RR. bonds, guaranteed. Also further issues at $15,000 per
mile oan be made to retire bonds of leased lines. (See V. 43, p. 275.)
The annual report for tne year ending Sept. 30,1886, was published.
In the Chronicle, Y. 43, p. 717, containing the following:
1885-86.
1834-85.
1883-84.
Total receipts....................... $4,012,028
$3,999,147
$3,834,737
Operating expenses........ .
2,121,553
2,231,486
2,218,977
Net receipts.................... $1,890,475
$1,767,661
INCOME ACCOUNT.
1885-6.
1884-5.
Net revenue for the y e a r ........ $1,890,475
$1,767,661
Interestondebt,rentals, A o... *1,467,658
*1,483,097
Balanoe over all oharges.......... $422,817

$284,561

$1,615,760
1883-4.
$1,617,358
*1,470,908
$136,450

* The int. charge ou debent’s Is included here in full, but It was not paid.
- (V . 42, p. 488, 575, 604, 633, 728 ; V. 43, p. 73, 163, 275, 516, 548,
635, 7 17, 738; V. 44, p. 185, 308, 335, 435.)
R ic h m o n d Prederlckaburs Ac P o to m a c ,—Owns from Rich­
mond, Va., to Quantloo, 82 miles. In November, 1881, there were
voted dividend certificates for $755,039 to he issued to holders of com ­
mon stook (70 per cent on each share), to represent money spent on
the property out of earnings, and afterwards a similar Issue on guaran­
teed stook. The common stock is $1,030,100; guaranteed stook, $500,400 (6 per cent except $19,000 guar. 7 per cent), and “ dividend obliga­
tions” $1,066,500. In year ending Sept. 30, 1886, gross earnings were
*505,412;net, $233,876; interest and guaranteed dividend oharges, $85,204; balance net surplus, $148,672. Iu 1884-85 gross earnings, $471,913; net, $191.815; interest paid, $50,624; guar, dividend, $34,835;
surplus, $106,357. (V.43,p. 67 0 .)
R ic h m o n d Ac Petersburg.—Owns from Richmond to Petersburg,
Va.. 23 miles; branch, 2 miles; total, 25 miles. The road has earned
moderate dividends and the debt account is very small. In 1883-86
gross earnings, $207,454; net, $95,598. In 1884-85, gross, $192,650;
net, $95,168. (V. 42, p. 2 1 ; V. 43, p. 717.)
R ic h m o n d Ac W e st P o in t T erm in al R a ilw a y Ac W a re*
house Co.—This company was incorporated by an act of the Legisla­
ture of Virginia of March 8,1880. It was the auxiliary corporation of
the Richmond & Danville RR. Co. controlling several stocks by own
ership of a majority, the total miles of road thus controlled being 1,840,
embracing the follow!ug: Char. Col. A Aug., 191 miles; Col. & Green
197 miles; Chester A Lenoir RR. (narrow gauge), 90 miles; Chester Ac
Cheraw (nar. g.), 29 miles; Atlantic Tenn. A Ohio RR., 47 miles; Laurens
Railway 31 miles; Knoxville & Augusta RR., 16 miles; Riohin. A Meek.
Railroad, 31 miles; Spartanburg Union A Columbia 68 miles; Northeast­
ern of Georgia, 61 miles; Western North Carolina Railroad, 274 miles;
Asheville & Spartanburg, 50 miles; Virginia Midland Railway, 4 05;
miles; Georgia Pacific, 313 miles.
In November, 1886, the Terminal Company purchased a large major­
ity of the R. & D. railroad stock, and a new board was elected. It was
voted in December to issue *5,000,000 of pref. Terminal stock, secured
by the deposit iu trust of 23,000 shares of R . A D. stock; and afterward
tne common stock was increased to $10,000,000. In Jan., 1387, $6,000,Net earnings........ ...............
$183,979
$184,673
$158,698 000 of the East Tenn. Va. A Ga. first pref. stook was bought, giving con­
trol of that Co. for five years, and the balanoe of Riohin. A Dauv. stook
—(V. 44, p. 68, 119, 435, 495.)
was taken. See terms of this negotiation in V. 44, p. 119. See V. 43,
R ic h m o n d Ac D a n v i lle .—L ine of R oad.—The main lit
p. 635.
Is from Kieuinoud, Va., to Danville, Va., 141 miles; branche
The report in March, 1887 (V. 44, p. 401), showed that the Richmond
" nales; Danville, Va., to Greensboro, N. C., 47 miles; Salem Junctio
& West. Point. T. r. R. & Wareh. Company then owned the following
to Salem, 25 miles; leased: West Point, Va., to Richmond, 38 mile
stocks, viz.: Of its own stock. $28,633 pref. and $3,579,600 common
Goldsboro, N. O., to Cnariocte, 223 miles; Charlotte, N. C., to Atlant
(to be exchanged for Richmond A Danv. stook, of which $2,499,000 to
2A0 m it« «nu --------- ------------------ — --- ---------- total owned
be pledgedi; also, $4,230,100 of Rich. & Danv. RR. stook, $8,500,000
(*$6.000,000 pledge j ) , of East Tenn.Va. & Ga. 1st pref.; $2,611,650 Ricn.
wl° earnings uaseu urereon, ana on mm
& Danville Extension Co.: $24,800 of Am. Construction Co.; $120,000
m om j oi ine a il & Ch. narrow-gauge branches, are reported separatel
Northeastern Railroad of Georgia, $3,168,300 Western North Carolina
Virginia Midland RR. was leased for 99 years, a:
RR. common and $3,168,300 pref.; $100,000 Knoxville A Augusta RR.,
0 & Columbia, Charlotte Columbia & Augusta, ana Weste
$1,302.400 Charlotte Columbia A Augusta RR., $3,577,333 Virginia
r^!?u al£r0 teased for 99 years. The Piedmont RR. Is virtual
Midland Railway (of which $3,100,000 pledged), *$1,001,000 Columbia
Northwestern North Carolina also owned. The Rie
& Greenville RR., $49,000 Dan. Mook. A So. W. RR., $300,000 Rich­
Ci, e8*Peake iBleased in perpetuity. The Richmond & Dan
mond A Mecklenburg RR., $103,900 Rabun Gap Short Line, $3,133,extension Co. was organized to build Georgia Paciflo RR., and lar
980 Georgia Pao. Railroad, $1.500,000 Wash. O. A West.; and the fol­
advances were made to it by the Richmond & West Point Terminal C<
lowing bonds: $100,000 Knoxville A Augusta 1st mortgage 6 per cents.




«i

uton*

INVESTORS’
SUPPLEMENT.

1

i

|

J jp tfi-A

|

J

)
h it

* -r>

I
/\ T 1

v / u a iU M c n u iir ^ /

r r iT T -f 1

M A P OF TH E

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v
.

$
o

xliv ,

ROME, WATERTOWN
BT N^.
AND
OGDENSBURG
RAILROAD & CONNECTIONS.

►

' W pi "

G e tty s B u i^ ^ jia n o -v ^ L V A

[VoL.




4

Ma t , 1887.]

¡RAILROAD STOCKS^AND BONDS.

01

Im m ediate n oticejof anyijerrorjdtscovered In these Tables.
Bonds—Princi­
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par
of
of
Outstanding Cent. Payable
Dividend
Whom.
Road. Bonds Value.
....
*••*
$100 $40,000,000
4,267
5,000,000
100
F. A A. N. Y „ Central Trust Co. Feb. 1,1897
8,500.000
1,000
1887
J. A J. N. Y.,by N.Y. L.E.AW.Co Jan. 1, 1887
3
552,200
100
18

Subscriber* w ill confer a great flavor by giving
d e s c r ip t io n ^
For explanation of column Headings, &c., see notes
on first pag? of tables.

Richmond d Wat Pt. Tar. R. d W. Co.-Stock..........
Preferred 5 per cent stock, cu m u lative..............
Collateral trust bonds.---- .......................................
Rochester d Genesee Fa«ey—Stock.......... ..................
Rochester d Pittsburg—See Buffalo R. & P.
Rock Island d Peoria—Stock......................................
1st mortgage.............. ..................................
Consol 1st mortgage................ ..............................
Rome d Carrollton— Ist mort., gold...... ............. . . . .
Rome d Decatur—1st mort..go d ($15,000 P m .)...
nome Watertown d Ogdcnsburg —»took.. ................
1st sinking fund mort., Wat. & R. (extended).......
1st mort., sink, fund (2d mort, on 91 miles)..........
2d mort. (3d mort, on 91 miles) ........................ --Consol, mort., (extended July, 1882, at 5 per ot.).
Syracuse Northern (gold)..................... .
Rutland—Stock, common..........................................
Stock, preferred........ .................. .
General mort. (8 per cent.reduced to 6 i . ......- - - .
New 2d mort, in exoli. for equipment bonds, Ao.
Sacramento d Placerville -1st mortgage (S. V. UK.).
1st mortgage (8. A P. R R .)..................................
Saginaw Valley d St. Louis.—1st rnortg., co u p ......
St. Johnsbury d L. Champlain—1st M.,ooup. or reg.
Consolidated mortgage (for $1,000,000)..............
St. Joseph d Grand Island—Stock...................... .
1st mort., gold, Interest guar, by U. P ...................
2d mortgage, income............................ ..................
Bonds on branch roads ($15,000 per mile) ..........
St. Joseph d St. Lou is—Stock........................... - ........
91. Louts Alton d Terre Haute—Stock......................
Pref. st’ok (7 cumulative).......................... -•....... 1st mortgage (series A) sinkingf’d (seenext page)

91
91
113
22
fl42
97
190
190
409
45
120
120
48
36
120
252
252

1878
1885
1885
1886
1855
1861
1872
1874
1871
1872
1878
1855
1877
1872
1880
1884

100 Ac.
100 Ao.
1,000
1,000
1,000
1,000
1,000

1885
1885

1,000
1,000

iöo

76
331
207

25,000
5,000
100 Ac.
1,000
100
100 Ao.
500 Ao.
1,000
1,000
1,000

1862

100
100
1,000

*368,000 Spartanburg & Asheville 1st mortg. 6 per cents, *$1,325,000
Western North Civrol Inft 1st consol, mortg. and *$4,110,000 ¿d inortg.,
*$1,603,553 Virginia Midland 6 per cent incomes, $315,000 Northeastera of Georgia general mortg., *$1,778,155 Georgia Pacliio 2d incomes,
and $299,000 Blue Ridge RR.. $4,100 miscellaneous county and
township bonds, $ >25,000 Wash. O. A West. 6 per cent income bonds,
$50,000 Georgia Paeitto equip, trust bonds. Total securities owned as
above, $10,577,808 honds, $9,697,933 pref. stocks and $24,801,063
common stocks; grand total. $45,076,804. Of these,■'$21,410,OOo (in­
cluding those mat ked with a star) were deposited with the Central Trust
Co. of N. Y. as security for the $8,500,000 of its collateral trust bonds
outstanding.
■
,
„ ■
The prices of common stock have been as follows: In 1881,122®
174 8; In 1882, 23®263; in 188;», 21®39; in 1884, 12®32; in 1885,
lS3aa>43i4 ; iu 1886. 2714 »7 7 14 ; in 1887 to May 20. 37%®53. (V. 42,
p. 575, 604, 683, 728; V. 43. p. 487, 516, 609, 635, 719; V. 44, p. 22, 91,
119, 149, 2o4, 212, 309, 343, 401, 435, 459.)
Rochester Sc Genesee Valley.—Owns from Avon to Rochester
N. Y., 18 miles. This road was leased July 1,1871, in perpetuity, to
Erie Railway, and now operated by New York Lake Erie & Western.
Rental, $34,012. James Brackett, President, Rochester, N. Y.
Rock Island & Peoria.—Owns from Rook Island, 111., to Peoria,
III., 91 miles; Rock island & Mercer Co. RR., 22 miles; total, 113 miles.
The Peoria A Rock Island was sold in foreclosure April 4, 1877,
the bondholders becoming the purchasers. Gross earnings In 1884 5,
*376,448; net, *111,262, out or whleh 5 per cent dividend paid. Gross
in 1885-86, $495,867; net, $113,008; dividend paid, 5 per cent.
H o m e Sc C arrollton.—Road completed from Rome* Ga.« to Cedar,
town, 22 miles, and further projected to Carrollton, Ga. Stock, $60u,000.
R om e Sc Decatur—Road in progress fiom Rome, Ga., to Decatur,
Ala., 145 miles, of which 25 miles from Rome were finished March.
1887. It Is bonded at $15.000 per mile standard gauge road. The bonds
were oflered In New York by Grovesteen A Pell
R om e W atertow n Sc O g d c n s b u r g .—(See Hap.)—From Niagara
Falls to Massena Springs, 301 miles; Lewiston Junction to Lewist' n, 3*2
miles; Syracuse to Sandy Creek, 44 miles; Richland to Rome, 41 miles;
Watertown Junction to Cape Viucent, 24 miles; DeKalb Junction to
Ogdcnsburg, 19 miles; Rochester to Windsor Beach, 7 miles; Syracuse
to Oswego, 36 miles; Utica to Ogdcnsburg, 131 miles; Carthage to Sacketts Harbor, 3t> miles; Theresa Junction to Clayton, 1 0 miles; toial,
650 miles. The Utica A Black River road and branches were leased In
April, 1886, the R. W. A O. guaranteeing fixed charges and 7 per cent
per annum on the stock.
The R. W. A O. was a consolidation Oot., 1861, of the Watertown A
Rome and the Potsdam A Watertown railroads. The Lake Ontario Shore
Railroad was acquired January 15,1875; the Syracuse Northern, Aug.
1, 1875. The Oswego A Rome was leased January 1,1866, at 8 per cent
on stock and interest on bonds. The Niagara Falls Branch road was
leased Nov. 1, 1881, at 7 per cent on its stock of $250,000.
In April, 1886, the Income bonds were offered an exchange of 40 per
sent In the 5 per cent consol, mort., due 1922, and 60 per cent in stock,
and the bonds have been about all exchanged.
For quarter ending Dec. 31 gross earnings were $782.243, against
$504,001; net, $381,106, against $216,553; surplus over fixed charges,
*134,911, against $60,051.
Earnings, expenses and charges In 1885-6 and 1884-5 were as below,
including the Utica & Black River for six months in 18s5-6:
1885-0.
1884-5.
Gross earnings...................................
$2,406,793
$1,702,732
Operating expenses and taxes.........
1,495,298
1,180,231
Net earnings...............................
Other Income.....................................

$911.495
29,749

Total income.................................
1 Deduct—
Interest........ ........... .
Rentals.......................

$941,244

$563,141

$504,110
189,3 ;o

$183 442
64,250

$522,001
40,0,0

Total.............................................
$693,480
$547,692
Surplus for year........... .
$247,764
$15,449
r Charles Parsons, N. Y., President.
I
P;,®!* 187, 305, 366. 464. 488, 549, 604; V. 43, p. 217 21
■ 240,488, 635,747; V. 44, p.91,119, 244.)
§P
"
m S .itii.a n d * r S 7 n8 S70“ 1 Bellow’s Falls, Vt., to Burlington, Vt., 15
RIV’ 15 miles; total, 135 miles. Thisroad has bet
f o f 2tfve^^h,?^?hS?8' 11
leased to the Cent. Vermont in Dee., 187
S * hi
but the lessee became insolvent, and finally a modificatlt
n
d M
Ä
6'
$250.000 per’year as a mfitimtuu rent
m
o
r
t S
Ä
e? N;IUie«- The 5 per cent 2ds are a / ( r
f m ^ I l l sß
ek aud personal property. Tue annual repoi
lor 1885-86 with income account was ln V. 43, p. 72. (V. 43, p. 727)
8& l e ^ i w a° o f i riacervU le.-G w ns from Sacramento, Cal., i
S S
was a consolidation ot the Sacr
to valley and the Folsom A Placerville railroads, April 19, 187




1,500.000
150.000
450,000
150,000
375,000
5.390,100
418,100
1,021,500
1,000,000
6,457,000
500,000
2,480,600
4,000,000
1.500.000
1.500.000
400,000
700,000
446,000
628,000
400,000
4.600,000
7,000,000
1,680.000
<t)
923,000
2,300,000
2,468,400
1,100,000

21«
10
6
6 g.
6 g.
2L>
6
7
7
5
7

__

75 cts.
6
5
10
6
8
6 g.
5

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

....

N. Y., Cora Exch. Bank, Jan. 1, 1887
Jan. 1,1900
do
do
Jan. 1, 1925
do
do
N.Y. .Farm. L’n A Tr. Co. Jan. 1,1916
Dec., 1926
N. Y., Amer. L’n A Tr. Co.
N. Y., Central Trust Co. Fob. 15,1887
Sept. 1, 1910
do
do
Deo. 1. 1891
do
do
Jan. 1, 1892
do
do
July 1, 1922
do
do
July, 1901
do
do

J.
J.
J.
J.
D.
J.
8.
1).
J.
O.
J.

..........

Feb. l, 1887
Boat.,Columbian N. Bit. Nov. 1, 1902
1898
do
do
F. A A.
1875
J. A J. N. Y. Central Pao- RR.
1907
do
do
J. A J.
M. A n . Bostou, C. Merrlam, Tr. May 1, 1902
A. A O. Host., Am. L. A Tr. Co. Oot. 1, 1910
April 1,1914
Boston.
Q*—J •
m .’ a' n .

6 g. M. a n . N. Y., Central Trust Co. May 1, 1925
July 1, 1925
J. A J.
5
__
5
April, 1884
....
3
21«
7

.1. & J.

N.Y.,Otfloe 34'NttSsauSt.
do
do

July, 1894

Capital stock. $1,756,000. Gross earnings in 1885, $128,177; net,
$45,083; deficit under charges, $53,719. Gross, 1884. $130,4*1; net,
$67,378; surplus, $1,378. Leland Stanford, President, San Francisco.
S a gin a w Valley Sc St. Louis»—Owns from Itliaoa to Pains, 36
miles, and leases Alma to St. Louis and Pains to Saginaw. 9 miles; total,
45 miles. Opened January, 1873. Capital stock, $264,804. In 1886,
gross earnings were $90,131; net, $7,848. In 1885, gross, $74,941;
net, $22,909; Interest payments, Ac., $35,680. In July, 1879, manage­
ment was transferred to the Detroit Lans. A No.
St. J oh n sb u ry A: h ak e C h am p lain .—Owns from Lunenburg.
Vt., to Maquani Bay, on Lake Champlain, 120 miles, and branch from
No. Concord, Vt., to East Haven, 11 miles; total, 131 miles. This was
the Portland A Ogdcnsburg, Vermont Division, and was reorganized
under this title In 1880. Preferred stook, $1,298,500; common stock.
$2,550.000. In March, 1884, voted to issue the consolidated bonds, of
which $600,000 are reserved to take up Its first mortgage bonds.
Operated by Bo«ton & Lowell as Its Vermont Division, and all but $41,000 of the 5 per cent bonds issued are held by that company. In 188384 gross earnings, $290,470; net, $61,827.
St. Joseph Sc Grand I s la n d .-Lineof road, 8t. Joseph, Mo.,to Grand
Island, Neb., 253 miles. Tins company was organized lu J une, ’85, as suc­
cessor of the St. Joseph & Western, sold In foreclosure, and includes also
the Hastings & Grand Island RR. and the bridge at St. Joseph. The
road Is operated by the Union Pacifio, which company guarantees the
interest on the 1st mortg. bonus. (See terms, Ao.,V. 40, p. 764.) In Sept.,
1886, it was proposed to begin the construe to n of branch roads, with
bunds at $15,000 ptr mile, as p«r circular in V. 43, p. 399. James H.
Benedict, President, New York. Iu 1886 gross earnings were $1,169,425; net, $506,962; clef, under interest, &e., $9,172 r or three months
from Jan. I to March 31,1887, gross earnings were $302,447, against
$278,811; net, $136,84 .', agaii st $136,792. (V. 42, p. 157, 431, 549,
695; V. 43, p. 24, 133, 275, 399, 431,460,548; V. 44, p. 23, 60, 185,
300, 404, 527.)
St. J o s e p h ■& St. L o u is.—St. Joseph, Mo., to No. Lexington, Mo.,
76 miles. This was the successor to the St. Louis & St. Joseph
Railroad, sold in foreclosure February 8,1874. The St. Louis Kansas
City A Northern took a lease of the road for 99 years July 1,1874.
The terms of the lease were an annual payment of 30 per cent of gross
earnings, but $25,000 was guaranteed. In July, 1»86, the road was sold
out and reorganized. (V. 42, p. 397; V. 43, p. *03; V. 44, p. 149.)
St. L o u is A lto n Sc Terre H a u te.—Owns from Terre Haute,
Ind., to East St. Louis, 193 miles; proprietary line, East St. Louis to
Belleville, 14; leased lines—Belleville A Southern 111. RR., 57; Belleville
A Eldorado road, from Du Quoin to Eldorado, 50; Bellevi¡le A Carondel^i RR., from Belleville to East Carondelet, 17; St. Louis Southern,
Carboudale to Marion, 50; total, 381 miles. This company was a reor­
ganization, Feb. 18,1801, of the Terre Haute Alton A St. Louis RR.
The Bellev. A So. Illiuois is leased to this company for 999 years from Oct.
1,1866, and the Bellev A Carondelet for 9»3 years from Jan., 1883, at
a rental of $30,000 per year, widen is a guarantee of int. on the bonds;
the stock of $500,ooo Is owued by the St. Louis A. A T. H The St. Louis
Southern Rtt. and leased lines, 50 miles, was leased in Dec., 188s, for
30 pt r cent of gross earnings, minimum to be $32,0c0. The n ain
Une (St.L. Alton A T. H.) was leased Nov. 1, 1882, to the new Indianap.
A St. L. Railway and the Cleve. Col. Oin. A Indianapolis jointly. Under
this new lease the rent guaranteed is $450,000, and that amount is all
that is to be paid unless the gross earnings exceed $1,750,000 in any
year ending Oct. 31, and then 20 per cent is to be paid of the excess of
gross earnings over $1,750,000.
This company obtained a decision against the two former solvent
lessee companies for $221,824 against each; but on appeal to the U.
S. Supreme Court this was reversed in April, ’86. The Belleville Br. and
Extension are operated separately by this company, The Belleville A
Eldorado was leased for 985 years from July 1, 1880, at a rental of 30
per cent on the gross earns., but $15,400 per year guarant’d. The Belle­
ville A Carondelet is leased at $30.000 per annum.
Deo. 31, 1880, sinking fund held of the first uiortgag, bonds $636,000
and $434,519 cash. The preierred stock has a prior right to a cumula­
tive dividend of 7 per cent before any is declared on common. It is
also convertible into common at par; but shall not receive any dividend
as common stock for the time it was held as preferred. In Jan., 1881.
the company declared 3 per cent in cash on the preierred stock and
afterward settled the remaining 55 per cent of accumulated dividends
by the issue of incorn bonds.
The annual report for 1886 was in V. 44, p. 550.
The Cairo Short Line Division, including the roads directly operated
by this company, made the following exhibit:
EARNINGS. EXPENSES AND RENT OF LEASED LINES.
„
.
1883.
1884.
1885.
1886.
Gross earnings.............. $832,468
$741,050
$766,310
$8'>3,991
Oper, expen. and taxes.. 425.635
4 6,160
397,3*7
408,896
Net earnings........... $4 6,833
Rent leased roads.......... *60,897

$334,989
203,9,1

$368,969
203,381

$395,095
214,482

Net revenue............ $2« 5.935
$131.018
$165.587
—(V, 42, p. 126, 550, 603 ; V. 43, p. 719; V. 44, p. 550.)

$180,613

93




INVESTORS’^SUPPLEMENT.

S T . LOUIS,
ARKANSAS & TEXAS
RAILWAY.

[Voi*. XLiy

RAILROAD STOCKS AND BONDS.

93

M a y , 1887.]
—

------ „ great favor by givin g Im m ediate n otice o fja n y error discovered tn these Table».

---------- ---------------------- -:
“
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount
Rate per When
Pai
o
f
o
f
Outstanding
For explanation o f column he»»din^, Ac., see notes
Whom.
Cent. Payable
Road. Bonds Value.
on first page o f tables.
SuDsera

Si, Lor4is A lton A Terre

H a u te -

(C on tin u ed ).

(series B) sinking ru l
. or may [
1st muortgage
ortg
au mortgage
mortgage, preferred (series C)i. - \ be r e g . by (
2d
2d mortgage, preferred (series JJ>.. eudorsem't
2d M .,incom es....................- ..........„
1
Dividend bonds, income not cum ulative.................
Belleville A Carondelet, 1st .......................................
8t. L ou is A rk a n sa s A Texas —a toes.............................
Bt. L. Ark & Texas, Is M., g old .............................

8L L ou is Ft. Scott A Wichita—1st M. ($15,000 p. m.)

2d rnort. ($5,000 p. m .)........ - - - - -

/¿ c o n nnni

B t L o u is A H annibal— l e t mortgage ($ 600,000 )....
SL L ou is K eok u k A tt. IT.—1st mortgage, g old ...........

Income b o n d s .................. . - • - - - —

207
207
207
17

144
161
50
251
85
135
135

81. L ou is Salem A L ittle R ock —1st m ortgage............
Bt. L o u is A San fr a n c is c o .—Stock, common . . . . — 1,146

Preferred, 7 per cent, not cum ulative....................
1st «referred. 7 per cent, not cum ulative.. . . . . . . . .
mortgage (South Pacific), gold, (land gra n t)... 293
293
2d mortgage bonds, A , g o ld ............. - .....................
293
do
do B, g old ........................................
do
do C, g old .............................. .........
Equipment mortgage, g o l d ......................................
84
Mortgage on Mo. & W©stern RR*» $?old...................
Collateral trust bonds, gold . . . . . . . . . . . . . . . -- - ---• • 100
Bt. Louis Wichita A W est, 1st mort., gold. gu a r... 145
Oen. M., gold, coup, or reg (a 2d M .on 293 miles) 364
Equipment Trust............ .—
63
Kansas C. A Southw.. 1st M „ gold ($12,000 P- m.).

ill

1862 S500&0.
1,000
1862
1,000
1862
500
Ac.
1862
1881
1,000
1883
100
1,000
1886
1,000
1886
1,000
1881
1886 500 Ac.
1,000
1885
1,000
1880
1.000
1886
1,000
1876
1,000
1876
1872

1868
1876
1876
1876
1880
1879
1880
1879
1881
1884
1886

500 Ao.
100 Ao.
500 Ac.
500 Ao.
1,000
1,000
1,000
1,000
1.ÖÖ0

St. Louis A rkansas Ac T e x a s . —(Nee Jfap.)—Road from Birds
w en t Mo onnosite Cairo. 111., to Texarkana, Tex., 418 miles, and
thence by th e^ exas road to Gatesville, 305 m iles; total, main line, 723
m iles* branches. Paw Paw Junction to New Madrid, 6l miles; McNeil
to Magnolia, 7 miles; total. 735 miles. Extension from M t.Pleasant.to
Shermau. 115 miles, is in progress. The road was opened in 1883.
The road in Texas was foreclosed Deo. 1,1885. I k e Mo. & Ark. Div. was
sold on Feb 27.1886. The present Organization, widen was form ed in
1886 after the foreclosure o f the Texas & St. L ou is, consists o f two
corporations, the one owning the road in Missouri and Arkansas and
the other the road in Texas. By the laws o f Texas, railroads within
that 8tate cannot be consolidated with other roads outside the State,
therefore it was provided that the Co. in Mo. and Ark. should issue its
stock to the Co. in Texas, and the latter Co. should issue its own oeitifleates for such stock.
.
.
The new companies issue six per cent 50-year first mortgage bonds
to amount of $13,000 per m ile; six per cent 50-year second mortgage
bonds, $13,000 per m ile; and stock $13,000 per mile. Bonds and stock
on future extensions to be at the same rate. The stock issued by the
Missouri and Arkansas Company was transferred to the Texas Com­
pany, which latter has Issued its own stock for the same. Till 1891 the
control o f the entire road is to be vested in the committee, and for this
purpose the stock is deposited with a trust company. For stock so de­
posited negotiable certificates are issued, and designated as “ stook
trust certificates.” The first mortgages of the companies in Mo. & Ark.
and in Texas are deposited with the Central Trust Co.; the 2d morts. or
both divisions are deposited with the Mercantile Trust Co., and each of
these trust companies has issued against these mortgages so held its
coupon trust certificates for $1,000 each, entitling the holder of each
class to the security o f the mortgages on both the Mo. & Ark. and the
Texas divisions. These are the certificates dealt in at the Stock Ex­
change. In 1885 gross earnings were $1.300.828; net, $67,644. In
1886 gross earnings were $1,823,194; net, $357,911. (V. 42, p. 217,
305, 488, 519, 575, 632; Y. 43, p. 50, 103, 275, 459, 488, 608; Y. 44, p.
9 1 ,1 4 9 , 459, 654.)
S t. L o u i s * C a i r o .—This road extends from C airoto East Bt. Louis,
152 miles, with a branch to High Prairie, 9 miles. The former Cairo &
Bt. Louis made default April 1, 1874, and was sold in foreclosure July,
1881. Stock is $6,500,000. In Jan., 1886, a lease was negotiated for
45 years to the Mobile & Ohio RR. on the basis of a rental of 25 per
cent (t50 40) o f the gross revenue of the whole line, MoMle to Bt.
Louis, this rental being guaranteed by the lessee to amount to $165,000
pfer year. The issue o l $2,600,000 income bonds was to be retired with
part of the $4.000,000 mortgage bonds, which are guaranteed by the
M. & O. Gross earnings in 1883-84, $375,784; net, $78,837; interest,
$78,000; surplus, $837. (V. 42, p 22, 93, 126, 431, 775, 783.)
St. Louis * Chicago.—Owns from Springfield to Litchfield, 111., 50
miles; to be extended iu 1887 to Pekin, III., to a junction with the new
Atchison line. The road is reported as costing $14,000 per mile, while
the bonds are issued at $10,000 per mile. F. C. Hollins & Co., N. Y.,
negotiated the bonds.
St. Louts Fort Scott Ac W ic h ita .—From Fort Scott to Anthony
Kan., 216 m iles; Gilflllan Spur, 2 miles: Eldorado to Newton, Kan., 32
miles; total, 251 miles. Stock, $6,614,885. Gross earnings in 1885,
$663,051; net. $152,282; deficit under interest, Ac., $84,459. Gross in
1886, $783,033; net. $178,927; deficit under interest, $152,889. See
statement in Missouri Pacific report, Y. 44, p. 400. Road sold May 23.
—(V. 42, p. 632, 661; V. 43, p. 459, 635; V. 44, p. 149, 400, 527.)
St. Louis * H a n n ib a l.—Owns from Hannibal, Mo., to Gilmore, on
Wabash St. Louis A Pacific, 82 miles. This com pauy is successor to the
former St. Louis Han & Keokuk, sold in foreclosure Dec. 8,1 885 . The
principal owners were Mr. John I. Blair and the estate o f Moses Taylor
m New York, who became the purchasers. The stock is $1,000,000 au­
thorized and $452,000 issued. Gross earnings in 1885, $106,969 ;
operating expenses, $216,049; deficit, $109,081. John I. Blair, Presi­
dent. (V. 42, p. 366.)
St. Louis K e o k u k Ac N orth w estern .—Owns from Keokuk,
la., to St. Peters, 135 m iles; leased Keokuk to Mt. Pleasant, 49 m iles;
and uses Wabas'i tracks from St. Peter’ s, Mo., to St. Louis, Mo., 31 m iles;
total operated, 215 miles. The Miss. Val. & Western RR. was sold April
14,1875, and this company organized July 1,1875. Stock, $2,700,000,
of which $1,350,000 is preferred. Gross earnings in 1885, $585,247;
net Income, $82,441; payments (no interest paid), $116,984; def., $34,513. W. W. Baldwin, Pres’ t, Burlington, la.
St. Louis S a le m Ac L ittle Rock.. — Owns from Cuba, Mo.,
to Salem, Mo., 42 miles, and branches, 13 m iles; also 17 miles o f branches
controlled; total operated, 72 miles. Road was sold in foreclosure in
Sept., 1886. See V. 4 3 ,p. 400. A . L. Crawford, President, Newcastle,
Pa. (Y. 42, p. 754; V. 43, p. 4 '0, 424.)
St. Louis Ac San Fran cisco. —(See m a p .)—Line of R oad—This is
s considerable system of railroads, forming part o f a through route to the
Pacific
ÊÊÊ
Ê k is
________________H
P JJ______
JPH_„
!.....|
wtLmfin coast.
m o .» The W
main
line
from St. Lotus, Mo.,
to Seneca,
326 miles;
branches—Granby branch, 2 miles; Oronogo, Mo.’, tó Galena, IS*miles;
Girard to Joplin, Kan., 38 m iles; Carbon Branch, 3 m iles; Pierce City
to Halstead, Kan., 242 m iles; Plymouth, Mo., to Fort Smith Ark., 133
miles; Fort Smith to Paris, Texas, 169 miles ; Springfield to Chadwick,
Mo., 35 mues; Springfield to Bolivar, Mo., 39 m iles; Cuba Junction to
Salem and branches, 54 miles; total owned, 929 miles ; leaded, BeauS í i , w ® * City, Kan., 105 miles; total, 1,034 miles; the tracks of
m e Atchison Topeka & Santa Fe are used from Wichita to Halstead, Kan-




A. & 0 . N.Y.,Oftloo 34 NnssauS t.
7
$1,100,000
do
do
F. & A.
7
1,400,000
do
do
M.
& N.
7
1,400,000
do
do
M. & N.
7
1.700,000
do
do
June
1
6
1,357,000
do
do
J. & D
,6
485,000
9,555,900
6 g. M. &"n . N. Y ., Central Trust Co.
10.049,000
6 g. F. & A. Mercantile Trust Co.
9,529,000
5 g. A. & O. New Y ork or London.
2,600,000
New Y ork Agency.
1,400,000
4 » » J. & J.
New York.
6 g. J. A J.
500,000
New
York, Moran Bros.
A.
A
O.
7
3,777,000
M. A N. Mercantile Trust Co.
6
1.000.000
J. A J.
7
370.000
7 g. J. A J.
1,620,000
J. A J.
7
1.080,000
A. A O. N.Y., Union Trust Co.
7
1,000,000
11,845,900
9,768.400
‘ ‘¿ i« F. &“A. N. Y ., Office 15 Broad St
4,500,000
do
do
6 g. J. A J.
7,144.500
do
do
6 g. M. A N.
500,000
do
do
6 g. M. A N.
2,766,500
do
do
M.
A
N.
6 g.
2,400.000
do
do
651,000
7 g. J. A D.
do
do
6 g. F. A A.
1,090,000
do
do
F. A A.
6
1,224,000
do
do
M. A S.
6
2,000,000
do
do
12,739.000 5 & 6 g. J. A J.
do
do
A.
A
O.
349,000
6 g.
do
do
6 g . J. A J
744.000

B ond
B
o n ds—
s- Princd-

pal,When Due.
Stocks —Last
Dividend.
July, 1894
1894
1894
1894
Jan. 1, 1894
June 1, 1923
May 1, 1936
May 1, 1936
1921
Jan. 1, 1931
July 1, 1915
Oct, 1, 1910
Nov. 1. 1910
1936
Jan. 1, 1906
Jan. 1, 1906
A pril 1, 1902

Feb. 10, 1887
July, 1888
Nov. 1. 1906
Nov. 1, 1906
Nov. 1. 1906
June 1. 1895
Aug. 1, 1919
Aug., 1920
Sept., 1919
July 1 1931
A A O .S p .o.ea .
Jan. 1. 1916

Atlantic & Paoiflo road, Central Division, from Seneca, Mo., to Sapulpa,
in the rndian Territory, 112 miles.
. „
,
O r g a n iz a t io n , &o.—This com pany was organized Sept. 20, 1876, as
successor to the Atlantic & Paoiflo In Mo. The latter embraced the South
Paoiflo RR. (originally the Southwest Branoh o f the Pacific RR. of Mo.,
chartered Dec. 25 ,1 8 5 2 ), which was consolidated with the Atlantic &
Pacific road Oct. 25, 1870. The Atlantic & Pacific road and lands were
sold in foreclosure Sept. 8, 1870, and the St. Louis & San Francisco
became possessor of the property. . . . .
.,,
,,
. _
_ _ _...
This com pany is join tly interested in the Atlantic & Pacific RR. w ith
the Atoh. Top. A Santa Fe, and guarantees one-half the 1st m ortgage
bonds severally, not join tly.
„
.
In January, 1886, leased for 98 years the Kansas City & Southwest©rn RR., from Beaumont. Kansas, to Cale, in Butler County. 62 miles, at
a rental guaranteed to pay the interest on the 1st m ortgage bonds. Tho
bon Is are redeemable on notice at 110. The stock of the St. L. K. & 8. W ,
(Ark. City to Caldwell, Kan., 47 in.) Is owned and the bonds guaranteed.
Stocks and Bonds.—The first preferred stook has prior right to 7 per
oent (non-cum ulative); then pref. entitled to 7 per c e n t; then common
entitled to 7 ; then all classes share In any surplus.
The terms o f
the preference of the first preferred stock are stated in the certificates
as follow s: “ This stook is entitled to a dividend of 7 per cent per
annum, derived b y the company from net revenues from aU sources
each current year (remaining after the payment o f Interest upon all
liabilities) * * * and b y resolution o f the com pany has priority of lien
on net revenues for such dividend over any m ortgage bond that m ay be
Issued by the com pany subsequent to the creation o f this stock.’
“ Net Revenue” in this olauss is defined by the com pany as meaning net
revenue remaining after the payment of interest on all liabilities.
Dividends have been p a id ou first preferred stock in 1881 and sinoe
__
at 7 per cent per annum.
The range o f the stocks yearly since 1877 has b e e n : First preferred in
1 8 7 8 (4 months), 5 J«ailS|i; in 1879, 9% ® 7 83e ; in 1880. 60® 10 0; in
1881. 9 0 * 1 1 5 * « ; in 1882, 7 9 \ ® 106*3; in 1883, 87® 100*«; in 1884,
70®96*a; in 1885, 79*991«; in 18 86,97® 1181«; in 1887 to M ay 2 0 , 112
31191a.
______
Preferred stock in 1878, l*a®5*4; in 1879, 4*8*60*«: in 1880. 33®
6 5 ; in 1881, 55*81*4! in 1882, 4 3 ® 6 6 i«; in 1 8 8 3 ,4 0 * 5 9 1 «; in 1884,
24»«® 50; in 1885, 30®49^> in 1886, 37 V ® 723s; in 1887 to May 20,
61^981^4.
Common in 1878 (3 months), l*a®4*s; in 1879, 3 *8 *5 3 ; in 1880, 25*4
® 4 8 ; in 1881, 3 9 ® 5 5 ; in 1882, 31®46va; in 1883. 20*3*36*4! in 1884,
H i« ® 2 9 i« ; in 1 8 8 5 ,17i«® 24is; in 1 8 8 6 ,17®36^,; in 1887 to May 20,
30 »40*4.
The trust bonds of 1880 are secured b y deposit o f 7 per cent
m ortgage, bonds of the auxiliary roads constructed. The general
mortgage of 1881 (supplemented b y that o f June, 1882) for $30,000,000
is made to the U. S. Trust Co. as trustee, and $17,261,000 reserved
to take up all prior debt. This general m ortgage is a first lien on new
road, besides covering the mileage on which are the prior liens, and
$5,000,COO of 5 per cents issued under this mortgage in 1886 were for
the construction o f 185 miles road, including the line from Fort Smith,
Ark., to Texas.
The St. Louis Kansas A Southwestern bonds are Issued at $15,000 per
mile, and are redeemable at 110 on any interest day, at fou r weeks*
notice.
The Fort Smith & Van Buren Bridge bonds are guaranteed by the Bt.
L. & 8. F. Co., and have a sinking fund of 5 per cent yearly after 1889
to purchase the bonds at 105; they are redeemable also at 110 at co.’s
option. The land department assets were estimated Dec. 31 ,1 8 8 5 , at
$896,183, including 145,090 acres o f land and $324,335 in land con­
tracts and $147,459 cash.
O p e r a t io n s , F inances, &c.—The St. Louis A San Francisco has been
one o f the successful reorganized railroads o f the Southwest, and has
made good progress in traffic and income, without very heavily increas­
ing its annual interest charges.
The annual report lor 1886 was in V. 44, p. 619, 622.
INCOME ACCOUNT.
1882.
1885.
1881.
R eceipts—
1883.
Gross e a r n in g s ...... $3,896,565 $4,643,596 $4,383,406 $4,874,628
Net ea rn in g s.......... $2,073,437 $2,508,218 $2,433,662 $2,652,332
19,782
159,620
14,836
24,376
Other receip ts.
Total net income. $2,097,813 $2,523,054 $2,453,444 $2,811,952
D isbu rsem en ts —
Int.,sink. fd. A rents $1,343,436 $1,826,203 $1,751,215 $1,956,298
315,000
315,000
Diva, on ls t p f. stock.
315,000
315,000
7
7
7
Rate of dividends. . .
7
$382,497
$540,654
______
Balance,
I! M
surplus___
| ______
$428,373
■ ___ M
$381,609
- ( V. 42, p. 339, 6 0 2 . 604, 775 ; V. 43 p. 24, 571, 579, 608; V. 44, p.
204, 43 ', 459, 466, 551, 604, 6 1 9 , 6 2 2 , 654 )
St. Louts S o u t h e r n . —Owns road from Pinckneyville, 111., to Carbondale, 111., 33 miles, and leases Carbondale & Sbawneetown road to
Marlon, 17*« miles; total operated, 50*« miles. This comp tny was
organized Aug. 3,1 886 , as successor to several others foreclosed. On
Dec. 1, ....
D 8 6 , made „a 1H
lease for 980 years to the St. Louis Alt. A T. H., at
■g«|' of
g H
--------i
earnings, and a guarantee of interest on
a rental
30 *per
cent *I
! 1st mortgage bonds

INVESTORS’
SUPPLEMENT.
[Y o l . x l i v




RAILROAD STOCKS AND BONDS.

Ma y , 1887.J

DESCRIPTION.
on first page o f tables.

95

S onde —Prinol
INTEREST OR DIVIDENDS.
pal, When Due
Miles Date Size, or
Amount
S tocks —Last
When
Where
Payable,
and
by
Rate
per
Par
of
of
Outstanding Cent. Payable
D ividend.
Whom.
Road. Bonds Value.

St L o u is <4 San F ra ncisco.—( C ontin ued )—

St. L. Kan. ft S. W.. 1st M., g.. guar. ($15,000 p. m.
Ft. Smith ft Van Bur.B’dsre, 1st mort., gold. guar.
33
fit L ou is S outhern— 1st mortg., gold..........................
33
2d m ortg. income, non-cumulative..........
....
fit. Louis Vandal ia <£ Terre H aute— 1st M. s. f. guar 158
158
2d m ort., sink, fund ($1,600,000 guar.)..........
fit. Pout <£ D uluth —Preferred 7 p. o. stock & scrip. 225
Common stock..................... ................................. .
169
1st mort, bonds, coup, or reg....................................
21
Taylor's Falls & Lake Sup.. 1st mort., o p .,g u a r....
25
Duluth Short Line, 1st mort., coun., g u a r .
1,761
------------iok.
fit Paul M in n ea p o lis<
&M-—
dnitooa
—Stool
76
2d M., and 1st on road from 8t. Paul to w m »u —
656
1st m ort, land grant sinking fund, g old ...............
656
2d mort., g old ....... ...................................... ................
473
Dak. E xt., 1st mort., gold ($12.000 per m ile)........
Consoi m ort.,gold ($13,34 »,000 are fis), cp. or reg, 1,949
1st m ort., gold. Montana Div., $25,000 oer m ile..
Minneap. Un. HR.. 1st M.. gold,guar. ($3,000,000j
fit. P a u l 4 N o.Pae .—Stock ($10,000,00'* authorized) 152
Oen. M.. gold. Id. gr., coup, or reg. ($10,000,000) 152
60 »a
Western R K., Minn., 1st mortgage, HR.................
116
S a n d u sk y M ansfield <£ N ew ark— Re-organised stock
116
■ 1st m ortgage, new
----- -------------150
San A n to n io A A ra n sa s P a s s - 1st mort., g o ld ........
88
1st m ort., gold ($12.000 per m ile ).........................
286
Savannah F lorid a <t West.— At. ft O. oonsol. m ort..
58
South G eorgia & Florida, 1st m ortgage............. .
58
do
do
2d m ortgage..................
525
Bay. Fla. ft W., 1st m ortg ag e.................................
30
S avan nah D u b lin <£ Western -1 s t m ortgage............
60
S avan nah Ori/Hn <CW. A la.— 1st mort,gaire....... ..........

1886
1885
1886
1896
1867
1868

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

1881
1884
1886

1.000
1.000
1,000
100
1,000
10Ô fto.
1,000
1,000
1,000

1862
1879
1879
1880
1883
1837
1882

1869
1895
1886
1867
1869
1869
1884

1,000
100
1,000
1,000
50
1,000
1,000
1,000
50Ó fto.
1,000
1,000
1,000

187*1

1,000

1883
1877

$835,000
6 g. M. ft 8. N. Y ., Company’s Office. Sept. 1, 1916
A pril 1. 1910
do
do
475,000
6 s . A. ft O.
550,000 ** 4 g. M. ft S. N.Y. St. L. A. ft T. H. Co. Sept. 1, 1931
M. ft S.
do
do
Sept. 1 ,1 9 3 1
525,000
5
J. ft J. N. Y „ Central Trust Co. Jan. 1, 1897
1,899,000
7
May 1, 189S
M, ft N. N. Y ., Third Nat. Bk.
7
2.600,000
31« J. ft J. N. Y ., Fourth Nat. Bk. Jan. 1, 1887
5,376,970
. ...
4,055,407
F. ft A. N.Y., Central Trust Co. Aug. 1, 1931
1,000,000
5
Jan. 1, 1894
do
do
J. ft J.
6
210,000
Sept. 1 ,1 9 1 6
do
do
M. ft S.
5
500,000
M ay 2, 1887
N.Y., 63 William St.
Q.—F.
20,000,000
lifl
do
do
J. ft J.
366,000
7
■ July,
■ V i 1892
■ ■
1909
5,250.000
7 g. J. ft J. New Y ork and London.
Oot. 1, 1909
do
do
6 g. A. ft O.
8,000,000
Nov. 1, 1910
5,376,000
6 g. M. ft N. N. Y ., 63 William St.
July 1, 1933
do
do
19,815,000 41« ft 6 g. J. ft J.
June 1, 1937
do
do
4 g. J. ft D.
(?)
Ju ly 1, 1922
do
do
2,150,000
6 g. J. ft J.
Q.—J . N.Y., Winslow, L. ft Co. April. 1887
5,000,000
I»«
Feb. 1, 1923
do
do
6,000,000
6 g. F. ft A.
M ay 1, 1907
do
do
M. ft N.
438,000
7
. Moss N. B k.,8and’k y ,0 . Feb. 1, 1886
1,068,832
3
,T. ft J. N. Y.. Union Trust Co. Jan., 1909
2,300,000
7
Jan. 1, 1916
N ew York.
1,750,000
6 g. J. ft J.
Ju ly 1, 1926
do
1,056,000
6 g. J. <fc J.
j . & j . N.Y„H.B.Plant,&Savan Judy, 1897
1,730,500
7
M ay 1, 1899
do
do
M. ft N.
464,000
7
M ay 1. 1899
do
do
M. ft N.
200,000
7
A pril 1, 1934
1,925.000
do
do
A. ft 0 .
6
_
450.000
6
500,000
J. ft J. Savannah, Cent. RR.Bk July 1, 189
7

1885-86«
1882-83.
1883-84. 1884-85.
$
$
x
$
$
Louis to Indiana State line, 158 miles. Road opened July 1, 1870.
4,553,468 4,327,478 4,266,237 3,483,084
It is leased to the Terre Haute ft Indianapolis Railroad at a rental Net earnings...................
131.292
350,114
813,945
418,270
o f 30 per cent of gross earnings. For the year ending October 31, 1886, Revenue from Land Dep’t
66,284
171,116
92,106
214,434
the rental received was $44 3,499, and the year’s oharges against this sum Other reoeipts.....................
were $370,691, leaving a surplus for the fiscal year o f $72,808. In
Total inoome . . . . . . . . . . 5,459,519 4,960,182 4,463,813 4,004,3 L4
operating this road the loss to lessee has been in 1882-83, $115,399;
$
$
D isbu rsem en ts —
$
$
In 1883-8, $71,549; in 1884-5 profit $39.169; In 1885-6 profit $23,687. Interest on d e b t ............... 1,264,279 1,949,690 1,980.200 1,999,820
The annual report for 1885-86 was published In the C h r o n i c l e , V. 44, p. D ividends........................... 1,724,664 1,600,000 1,300,000 1,200,000
148. The first mort. and $1,000,000 of second mort. bonds are guar, Rate of d i v i d e n d .... ......
6*3
6
8
8
by the lessees and also by the Pitts. Cin. ft St. L. RR. The stock is Sinking fu nd.......................
131.292
350,114
813,945
418,270
$2,379,358 com. and $1,544,700 pref. The pret. was issued for inoome Miscellaneous.......... ...........
......... .
881,545
bonds ($1,000,000) and for deficiencies made up b y the lessees. In
Total disbursements.. 3,902,888 4,349,505 3,411,492 3,549,934
1884-5 gross earnings were $1,372,648; net, $150,963. In 1885-6, gross,
610,677 1,052,321 454,380
$1,478,330; net, $4b7,186. Thos. D. Messier, Pres., Pittsburg, Pa. (V. Balance, surplus................ 1,656,631
- (V. 44, p. 402.)
42, p. 94. 1 5 4 ; V. 44. p. 91, 1 4 8 .)
Bt. P au l ft Northern Pacific.—Line of road Brainerd to M inneap­
St. P au l Ac D u lu th .—Line of Road .—St Paul, M inn.,to Duluth,
Minn., 155 m iles; branch to Knife Falls, 6 m iles; leased: Stillwater ft olis, 139 miles, and branches to St. Paul, 10 m iles; total, 149 miles.
Bt. Paul RR ., 13 m iles; Minneapolis ft Duluth RR., 13 miles; Taylor’ s This com pany was incorporated in 1874 as the Western RR. Co.
Falls ft Lake Superior, 21 m iles; Grantsburg Branch, 17 m iles; total, o f M innesota; from Sauk Rapids to Minneapolis was com pleted J u ly
225 miles. Between Northern Pacific Junction and Duluth, 24 miles, 1. 1894. and frdtn Minneapolis to St. Paul, February 1, 1886. The
terminal improvements at Minneapolis are on 20 acres in the business
the road is owned join tly with the Northern Paoiflo.
This was the Lake Superior ft Mississippi RR., opened August 1, centre of the city, and for similar purposes in and about Minneapolis and
St.
Paul, a total of 400 aores is owned. The land grant o f the com pany
1870, and leased to the Northern Pacific. Default was made Jan. 1,1875,
and road sold in foreclosure May 1,1 877 , and this com pany organized is located along the line o f the road between Brainerd and Sauk Rapids,
and
about 210,000 aores remain unsold. The laud proceeds are tires
June 27. The preferred stock is received In payment for lands at par.
Three shares or common stock have one vote and each share of pre­ applicable to redemption of West. Minn, bonds, and then to the redem p­
tion
o
f the Gen. Mort. bonds, if obtainable at 120. The road, with itsferred has one vote. Preferred stock has a prior right to 7 per cent:
thenoom m on to receive 6 p. o. from net earnings only, remainder of terminal property, is leased for 999 years to the Northern Pao. at a net
rental
equal to 40 p. o. of the gross reoeipts. but the bonds are guaran­
earu’gs and other inoome (lanris.ftc.) to be applied to purohase of pref.stk
The Duluth Short Line road from Thomson to Duluth, 25 miles, is teed principal and Interest. The stook is plaoed in trust with Farmers*
L.
ft
T
Co., the power to vote being held by Northern Paoiflo Company;
leased to the St. Paul ft Duluth, and the bonds o f $500,000 guaranteed.
Im portant propositions are to be voted on at annual meeting June 20. but “ benefloial certificates ” entitling holders to dividends are issued.
The general mortgage is for $10,000,000 (the total debt being limited
(See V. 41, p. 621.)
The com pany has a land grant, o f whloh 1,151,495 acres remained un­ by the lease to that amount), ana is a first lien on the w hole property,
sold Deo. 31,1586, and 69,680 acres o f the Taylor’s Falls Branch. In excepting that it is seoond to the Western Minn, m ortgage on 60 »a miles
*86 land and stumpage sales amounted to $163,057, an ddef’d payments and on part of the la n d s; the registered Interest is payable quarterly—
(land accounts) Deo. 31, 1886, were $314,001. Gross earnings and February, May, Aug. and Nov.; only $6,000,000 have yet been Issued,
net Income on railroad only, after deducting ad fixed charges, were as and a sufficient amount o f the issue is reserved to retire the Western
below, but In 1886 $568,315 and in 1885 $167,186 for ‘ 'Im prove­ Minnesota bonds in above table. Since 1877 regular cash dividends
ments ” and “ betterments” was charged In oper. expenses, while In prior have been paid, averaging over 6 per cent per annum. (V. 44, p. 2 2 ,9 0 .)
years lm prove’ts had been charged to “ cost of road and equipment.”
Sandusky M ansfield Ac N ew a rk . —Owns from Sandusky, O., to
Gross earns. Net lnc’me I
Gross earns. Net ino’me. Newark, O., 116 miles. A consolidation o f several roads in 1856.
Leased Feb. 13,1869, to Central Ohio Railroad, guaranteed b y Baltimore
1881
.... $732,630 $50,249 |1884................................. $1,317,314 $398,091
1882
.... 1,109,840 261,246 11885.............. 1,381,212 328,610 ft Ohio, and new lease made February 23 ,1 8 8 0 , extending to D ecem ber
1863............... 1,328,527 271,186 |1886............. 1,558,085 def. 14,529 l , 1926, with option to the Balt, ft Ohio Company to renew fo r term s
o f 20 years each. R ental was $194,350 yearly till 1884; $199,350
A summary o f the report for the year ending Deo. 31 ,188 6. was In V. in 1884 and 1885; now $201,850 annually. It is operated as Lake
44, p. 308, showing total net receipts Including land sales $766,844; ex­ Erie
division of the Baltimore ft Ohio system.
In 1882-83, gross
pended for impr’ ts, $568,315; net def. o f year $14,529. (V. 44, p. 621.) earnings, $999,128; net, $291,781; in 1883-84, gross $1 ,062,775; net,
8t. P a u l M i n n e a p o l i s ft M anitoba —(See M ap ).—Owns from Bt. $278,331; in 1884-85, gross, $817,785; net, $119,919.
San A n ton io Ac Aransas P ass. —R oad extends from Ban A ntonio
Paul to Emerson, 392 m iles; Minneapolis to Gretna via Breckinridge,
413 m .; Minneapolis to Hinckley via Bt. Cloud, 132 m .; Bt. Cloud to to Aransas Bay, Texas, 150 miles, and G regory to Corpus Christ!, 13
Willmar, 58 m.; Elk River to Milaca, 32 m.; D evil’s Lake to Minot, m . ; Kennedy to Cuero, 43 m .; Ban Antonio to Boerne, 32 m;—total
7™-» Cando Branch, 16 m.; Bolleneau Branch, 38 m.; Sauk Centre completed, 238 miles. Extensions are in progress.
The m ortgage first given above covers the 160 miles from Ban A ntonio
to Eagle Bend, 36 miles; Fergus Falls to Pelican Rapids, 23 miles;
Crooks ton to D ev ils Lake, 114 miles; Shirley to Bt. Hilaire, 21 miles; to Aransas Bay. The bonds after that are issued at $12,<>00 per mile on
Wayzata to Spring Park, 6 m iles; Morris to Brown’s Valley, 47 miles; new road completed. The Farmers’ L. ft Tr. Co., of N. Y., is trustee o f
Breckeuridge to Park River, 168 miles; Everest to Portland, 47 miles both mortgages. Capital stock issued, $2,617,200. U. Lott, Pres’ t ft
Ripon to Hope, 30 miles; Moorhead to Halstad, 34 m iles; total oper- Gen’l Mining r. (V. 44, p. 495.)
ated, 1,761 miles.
Savannah D u blin ft W estern .—R oad in progress from D ublin
nf T h^
o ^ au lzed May 23, 1879, under the charter to Amerious, Ga., 190 miles. Stock, $2,000,000. A. B. Linderman,
u J ir L a
5.aS ?°. Railroad, and embraced the Bt. Paul ft Pacific Philadelphia, President.
Savannah F lo rid a ft W e ste rn .—Owns from Savannah, Ga., to
tli? S t.Paul ft Pacific Railroad, the Red
Railroad, and the Red River ft Manitoba Railroad. The Chattahoochee, Fla., 258 m iles; branches—Bainbridge Junction to Baincompany had a land grant o f 3,849,000 acres. The proceeds of land bridge, 9 m iles; extension to Savannah wharves, 1 7 0 m iles; Junction
th e ^ rw l^ rn ^ ^ 6^
thy
“ ortgago trustees as a sinking* fund for Branch, 4 m iles; Dupont to Gainesville, 118 m iles; Thom asville to
Oofi the bonds at or under 105 and interest, and bonds Albany, 58 m iles; W aycross to Jacksonville, 75 m iles: total, 525
•re called in yearly so far as the funds are in hand. The second mort­ miles. This was a consolidation in 1865 of the Savannah A lbany ft
i s ® acSds d0 eStKci )A er the land* The land aales fo r year ending June Gulf Railroad and the Atlantic ft Gulf under the latter name. The
c o A w t 6« D m «6#n5? 2 Q
aftre8’ f0/ K^ 63A467- The net amount due on land Atlantic ft Gulf road was sold in foreclosure of the second m ortgage
™rh«' n t w ? 'V * ? ’ 1886’ was $511,121; lands unsold. 2,289,420 aores. |on November 4, 1879, subject to t h ' consolidated m ortgage and
authori7«3 o t ,^ n ^ n8/lon b0V,<i 8 “ L® i88Ued at $12,000 p er mile. The I other prior liens amounting to about $2,465,000. The present comwhich
aoSEEEi f o01180!1dated mortgage bonds is $50,000,000, o f I any has a capital stock of $5,340,300, which is held in very few
M v ^ * i « ! . « i 6f t 0were reBmwed to pay prior liens, and the balance 1 ands and dividends are paid as earned; in March, 1886, 3 »a p e rc e n t
p aid ; in March, 1897, 2 p ercen t. The earnings in 1885 were $2,461,613
^ ® M inneapolisU nionRR.m ash ortlinethrou gh ? gross and $468,799 n e t ; fixed charges, $3 00,279; surplus, $164,356.
“
Ri t c r „PE1ssenger service including stations and bridge over In 1886 gross earnings, $2,557,424; net, $708,140. H. B. Plant, Pres.,
b v t h e lie n o f? h c B t p mOC? Si »1.000.000 is held in trust and is covered New York. (V. 43, p, 635; V. 44, p. 344.)
Savannah Griffin ft N orth A lab am a .- Owns from Griffin,
directorsvot^n
M‘ & M- eonso1- mortgage. In March, 1887, the
build tne exteoSoE?1 a n J 8,8“ ? °.f ^ - y e a r 4 per cent gold bonds to Ga., to Carrollton, Ga., 60 miles. Operated in connection with Central
miles The
i f “Ei J? akota to o r e at Falls, Montana, about 540 Railroad of Georgia. Capital stock, $1,011,245. In 1885-86 gross earn­
the m o ™ ^ “ lted to #25,000 per mile on . oad and equipment, ings $62,518; deficit, $9,083. In 1884-5, gross, $58,841; net, $6,244.
Schenectady f t D u an esbu rg. —From Quaker Street Junction,
for future e x t e ^ i m f ^ nKaUthSr,z5d amount o f $25,0 »0,000 to provide
N. Y., to Schenectady, N. Y ., 14 miles. Formerly Schenectady ft Sus­
The S u l f s S S E ? and bran®be8- (Bee Circular in V. 44, p. 402.)
amiual report fo r year ending June 30, 1886, was in V. 43, p. 366, quehanna Railroad, and was foreclosed in 1873; reorganized and leased
in perpetuity to the Delaware & Hudson Canal Company. Lease rental,
INCOME ACCOUNT.
$30.000 per year, paying 6 per cent on bonds. Stock, $100,500.
1 8 ^ -8 3 .
1883-84. 1884-85.
1885-86.
Sch u ylk ill V a lley. —Owns from P alo A lto to Reevesdale, Pa.,
1 1 m iles; branches, 8 ; total, 19 miles. It is an old road, and was leased
Gross earnings................... 9,148,524 8,256,868 7,776,164 7,32?,736 to the Phila. ft Reading RR. from Bept. 1 , 18 6 1, at an annual rental

St. L o u i s Vandalla Ac Terre H au te.—Owns from East St.




E

INVESTORS’
SUPPLEMENT.

^ ou XL1V>




M a t , 1887.]

RAILROAD

STOCKS AND BONDS.

O *

Subscriber* w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Table».
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount
Rate per When Where Payable, and b y
Par
of
of
For explanation o f column headings, Ac., see notes
Outstanding Cent. Payable
Whom.
Road. Bonds Value.
on first page o f tables.
Del.
A
Hud.
Canal Co.
6
M.
A
S.
$500,000
14 1874 $100 Ac.
Schenectady A D u an esbu rg— 1st M., guar. D . & H ..
2 1* J. A J. Philadelphia, Offioe.
576,050
50
19
Schuylkill Valley —S tock............... ................... .
July,’84.AJau.’8S,08.b’
t
J.
A
J.
7
1,294,000
98 1876
Scioto Valley— 1st rnort. (s. fund $13,000 per y e a r ).
A.
0 . Last paid April, 1884.
7
283,000
93 1879
1,000
2d mortgage (sinking fund, $5,000 per year).......
Last
paid
July,
1884.
J.
A
J.
7
553.000
1,000
124 1880
Consol, m ortgage.................................................... .
7
M. A N. N.Y., Winslow, L. & Co.
82.000
Equipment bonds................. ••••• - - - - - .........
M. A N. Balt. .Farm .A Plant. Bk.
5
1,302,800
i ’o o
SO
Seaboard A R oa n ok e—Stock ($244,800 is p ref.)-----New York.
5
J.
A*J.
500,000
188*6
Mortgage for $ 2 ,5 0 0 ,0 0 0 ........ - - - - - - - - ............
N. Y.. Agenoy.
F.
A A,
6
g.
1,000
1886
(I)
Seattle L ake S. <£•E a st. —1st M., g., $25,000 per m ..
M. A N. Phila., Phil. A Read.RR.
5
1,000,000
1,000
31 1882
Sham oki . S un bury A L ew isburg —1st mort., coup.
do
do
F. A A.
6
500,000
1884
1,000
2d m ortgage..................................................................
F. A A. Philadelphia,Treasurer.
3
869,450
50
29
Sham okin Valley A Pottsville —S tock .. ......................
do
do
J.
A
J.
7
g.
2,000,000
28 1871 500 Ac.
1st mortgage, gold, on road and l a n d s . . . . . . . . . . . .
2,270,000
144 1880
1,000
7 g. J. A J. Last paid Jan., 1885.
Shenandoah T a lley—1st m (Hag. to W aynesbo.).. . .
Last
paid
Oct.j
1884.
A.
A
O.
4,113,000
6
g.
254 1881
1,000
General mort., gold................. ...................................
None paid.
Feb. 1
6
2,500.000
1,000
3d mortgage income bonds, registered, non-oum .. 254 1883
None paid,
584,969
Car trnsc certificates..........................................- ........
A. A O. N. Y ., N.Bk. o f Com’roe.
7
1,200,000
57 1869 500 Ac.
Shenango A A llegha ny—1 st m ortg ag e.... ................
J. A J. Phila., Fid. Ins.A Tr.Co.
1882
400,000
6
1,000
West Pennsylvania & Shenango, 1st m ortgage...
4
J.
A J. N. H., Nat. N. H. Bank.
1,000.000
50
100
Shore L in e (C o n n .) -S to ck ...........................................
do
do
4*s M. A S.
50 1880 lOOOAo.
200,000
New York.
40 1881
6 g. J. A J.
1,000
400,000
Shreveport A Houston— 1st, g. guar, by H. E. A W. T.
N.
Y
.,
Agenoy.
J.
A
J.
1885
6 g.
(1)
Silver S prings Ocala A O ulf— 1st,gold ($ t3,000 p.ui.)
25 1871
100
450,000
7 g. J. A J.
Somerset —1st mortgage, gold.......................................
247
5
100
4,204,160
South C arolina —Stock..................................................
London.
247 1868 Various
5 g. J. A J.
244,347
1st mortgage, sterling l o a n . . . . . . . . . . . ....................
6
A. A 0 . N. Y., 68 \ I'll am street.
247 1881
1,000
4,713,000
1st consol, mortgage (for $5,000,000)....................
do
247 1881
6
J. A J.
1,000
1,130,000
2d consol, m ortgage......................... ...... ...................
do
247 1881
6
Yearly.
1,000
2.538.000
Income mortgage bonds (not cum ulative)..........
132 1885
6
J. A J.
1,000
1,572,000
South Eli rid a - 1st mort. <$12,000 per m ile)............
181 1870
1,000
391,000
8 g. J. A J. N. Y ., Drexel, M. A Co.
So. A Ho. A labam a— 1st M., endorsed by Alabama.
183 1873
£200
4.198.860
6 g. M. A N. London, Baring Bros.
Sterling m ort., s. fund, guar, by L. A N ...............
183
1880
1,000
A. A O. N. T. Union Trust Co.
2,000.000
6
2d mortgage bonds (owned by L. A N .)...................
o f 5 per cent on the stock. Operations are included in the Philadelphia
A Reading reports. Has no bonded debt.
Scioto Valley,—Owns from Columbus, O., to Petersburg, O., 131
miles. In 1884 gross earnings, $556.983; net. $136,379; rental, $53,4 7 6 ; interest on bonds, $155,400; other interest. $60.470; deficit for
year, $195,910. In 1885, gross earnings were $546,286: net, $91,441;
rents, taxes paid. Ac., $31,998; applicable to interest, $54,942. Stock is
$2,093,350. Coupons of 1st m. due July 1.’84, and Jan. 1 /8 5 , were bought
by Lloyd, McKean A Co. A plan o f funding interest and placing all mort­
gage bondholders and holders o f floating debt on about the same footing
was brought forward in the interest o f Mr. C. P. Huntington, who had a
large Judgment against the oompany, but was resisted by the 1st mort­
gage bondholders, who organized a committee to buy the road on
foreclosure. J. L. Robertson, Chairman. 7 Nassau Street.
Receiver (Jas. Robinson) was appointed in June, 1885, on a ju dgm ent
o f C. P. Huntington for $639,305. Frank H. Davis, President, New
York. (V. 43, p. 50 ,191 , 738.)
Seaboard A R o a n o k e.—Owns from Portsmouth, Va., to Weldon,
N. C.. 80 miles. Of the stock, $1,058,700 is oonunon, $200,000 is 1st 7
per cent guar.» and $44,200 is 2d guar. Net earnings 1885-86, $188,375;
1886-87, $273,550. J. M. Robinson. Pres., Balt., Md.
Seattle Lake Shore A E a s t e r n .—New road in progress from
Seattle on Puget Sound to Walla Walla. Bonds are coup, or reg. (See
prospectus in V. 43, p. 184,191.)
Sham okin Sunbury A L ew isb u rg.—Line from Shamokin to
West Milton, Pa., with iron bridge over Susquehanna River at Sunbury.
The road was built by Philadelphia A Reading, and opened in 1883 for
its coal traffic northward. Stock. $1.000.000
Sham okin Valley A I’ ottsvlile. —Line o f road, Sunbury, Pa., to
Mt. Carmel, Pa., 27 m iles; branoh to Lancaster Colliery, 2 miles total 29
miles. The road was leased Februaiy 27,186 3, to the Northern Central
Railway Company, with a guarantee o f interest on the bonds and 6 per
cent per annum on the stock. The yearly reports will be found in the
Chkonicle with the reports of the Northern Cent. RR. Gross earnings for
1885. $422,227; net, $263,318. Gross earnings fo r 1884 $437,827;
net, $226,927. Geo. B. Roberts, President, Phila.
Shenandoah V a lley.—From Hagerstown, Md., to W aynesboro and
thence to a connection with the Norfolk A Western road at Roanoke.
238 miles and branches 17 miles. A close contract fo r working and an
exchange o f stock for Norfolk A Western stock, also a contract with Penn.
RR. for exchange of business was made in 1883, by which the Pennsyl­
vania and the Cumberland Val. RR. companies apply 15 per cent till 1890
and 10 per cen r from that to 1895 o f their gross receipts from business
with the Shenandoah Val. to be used for the purchase o f Shenandoah Val­
ley’s general mortg. bonds. In any year prior to Oct. 1,1888, this fund
can be applied to the purchase o f coupons if the earnings are insufficient
to pay Interest. There are in addition to the above outstanding first
mortgage bonds, also $1,560,000 o f same bonds held b y trustee of the
general mortgage and claimed as part o f its security, bur. as to these
there is litigation (see V. 44, p 150). The stock is $3,696,200, of
which $3,057,100 is held by the Norfolk A Western RR. Co.
In Maroh, 1880, Sydney F. Tyler was appointed receiver, on applica­
tion o f the Fidelity Insurance Trust A Saxe Deposit Co. The April ’ 85
Interest was defaulted.
For three months from Jan. 1 to Mar. 31 gross earnings were $185,701
In 1887, against $132,’.04 in 1886; net, $21,173 in 1887, against def. of
$2,949 In 1886.
In 1886 gross earnings were $740,655; net, $79,276. In 1885 gross
earnings were $694,892; net, $24,731. (V. 42, p. 6 6 2 ; V. 43, p. 400,
548, 580, 672, 719, 767 ; V. 44, p. 23, 150, 309, 495, 497.)
Shenango A A lle g h a n y .- Owns from Greenville, to Hilliard, Pa.,
47 m iles; branches, 10 m iles; total operated, 57 miles. Leases the West
Pennsylvania A Shenango connecting road, extending from this line, to
Butler, 24 miles, under construction in 1883. The company made
default in 1879, but the October coupons were paid Feb. 21,1880. Road
went into hands o f receiver, and foreclosure begun in June, 1885, and
road to be sold April, lc 8 7 . Stock, $200,000. Gross earnings in
1885, $147,053; net, $48.858. Gross 1886, $150,072; net, $43,596.
Thos. P. F wler, receiver, N. Y. City. (V. 42, p. 7 7 5 ; V. 43, p. 66, 452’
7 3 8 ; V. 44, p. 150, 527.)
Sliver Springs Ocala A G u lf.—This road is in progress from Sil­
ver Spring , Fla., to Point Pinellos on Tampa B ay, about 150 miles.
Capital stock, $ 1,500,000. Thos. C. Hoge, President, 56 Wall St.
t S45o r e Line (Conn.)—Line of road, New Haven, Conn., to New
Lot god,, Conn., 50 miles. Leased to New York & New Haven RR. Co. in
perpetuity Nov. 1,1870, at $100,000 net per annum. Chartered as New
iiaven fy New London RR.; sold in foreclosure and reorganized under
resent title June 29,1864. Dividends 3 ^ in Jan. and 4 in July. Operaons and earnings are included in the reports o f the lessee.
..
^ H o u s t o n .—From Shreveport, La., to Logansport,
miles; connects with Houst n East. <fc W. Texas road, form ing
w u n that a narrow gauge line of 230 miles from Shreveport toHouston. E. L. Bremoud, President.
t r ^ M a n d , Me., to Anson, M e.,25 miles. Capital stock
nanui tn
September, 1883, the bondholders took possession and pre
i re°r8amze/h e company. Gross earnings in 1883-84, $31,162;
G^-8sm 1884-85, $30,860; net, $5,864.
C u r o l l u a .—Owns from Charleston to Augusta, 8. C., 137 m.,
,,9 'lulu la>
m., and to Camden, 33 m.; extension. 4 miles;
|55d
te-irfS JS S bTra,nc^e08’
m- Default was made and the road
BO.d in foreclosure July 28, ’ 81. and the com pany was reorganized.

g




pal,When Due.
Stocks —Last
Dividend.
Sept. 1, 1925®,
Jan. 1 3 ,1 8 8 7
Jan. 1, 1898
A p r ili, 1894
July 1. 1910
May 1 5 ,188 7
1926
Aug. 1, 1931
May 1, 1912
Feb. 1. 1924
Feb. 2, 1887
July, 1901
Jan. 1, 1909
April 1, 1921
Jan. 1, 1928
1889 A 1907
July 1, 1912
Jan. 8, 1887
March, 1910
July 1, 1914
July 1, 1915
July, 1891
Feb. 1, 1883
1887 to 1888
Oct. 1, 1920
Jan. 1, 1931
Jan. 1. 1931
Jan. 1, 1915
Jan. 1, 1890
May 1, 1903
1910

There were $196,000 1st mort. dollar bonds payable in 1887 and 1883.
The annual report for 1885 was In the Chronicle, V. 42, p. 337.
INCOME ACCOUNT.
1885.
1884.
1883.
1882.
$
$
R eceipts —
$
1,151,846
1.233.292
1,326,969
1,313,821
Total gross earnings
328,156
382,724
432,875
501,191
Net earnings............
30,271
5,880
13,890
3,497
Other receipts..........
358,427
388,604
446,765
504,688
Total net Income
D isbu rsem en ts — •
374,524
382,722
373,754
357,817
Interest on debt___
76,140
126,900
Interest on incomes
3
5
Rate paid on incomes
8,020
252
2,472
4,149
Miscellaneous...........
382.544
382,974
452,366
488,866
Total dlsbursem’ts
sur. 5,630 def. 24,117
Balance...................... sur. 15,822 def. 5,601
- ( V . 42, p. 3 3 7 .)
South F l o r i d a . —Owns from Sanford to Tampa, Fla., 115 miles;
Bartow Branch, 17 miles; operates Sanford to Oviedo, 17 miles, and
Pemberton Ferry Branoh, 43 m iles; total, 192 miles. The road is
part of the Savannah Florida A Western system.
South A North A la b a m a .—Owns from Decatur, Ala., to, Mont­
gomery, Ala., 182 miles, with a branch of 6 miles from Elmore to
Wetumpka. The road Is controlled b y the Louisville A Nashville R R .
Company, which owns a m ajority of the stock and all of the second m ort­
gage bonds, $2,000,000, due 1910, w hich are pledged with the Union
Trust Co. as security for the L. A N. bonds, dated June 1,1880. A new
consol, m ortgage at 5 per cent has been authorized. 50Q.000 aeres
o f land in Alabama, largely mineral, nave been transferred to the
Louisville A Nashville Co. Common stock, $1,469,082; preferred stock»
$2,000,000. In 1884-85 gross earnings were $1,541,289; net, $537,481;
Interest and taxes, $560,847; deficit, $23.365; due Louisville A Nashville
RR. Co.. $1,733,805. In 1885-86 gross earnings, $1,469,089; net.
$430,509; interest, taxes, Ac., $768,324; d e l; $337,814. (V. 43,p. 218.)
South Pacific Coast (N arrow -gau ge).—Owns from Newark to
Junction (Felton), C a l, 45 m . leased—Alameda Point to Newark, 25
m.; Felton to Santa Cruz, 6 m.; other branches, 4 m.; total, 80 m. Ia
March, 1887, It was reported that the ro id was sold to the Southern
Pacific interest. Gross earnings 1884, $743,924; net, $205,074.
South P en n sy lv an ia .—The line was In progress between Harrisb.
A Pittsb., 225 miles, making a western extension o f the Phila. A R ead­
ing system. In July, 188o. it was agreed that the Vanderbilt interest
should be transferred to the Pennsylvania C om pany, and that comoffered to give the South Pennsylvania subscribers $6,500,000
is of the Bedford A Bridgeport RR., guaranteed b y the Penna.
Railroad Co., bearing 3 pec cent interest, m paym ent fo r the prop­
erty. Other large parties joined with the Vanderbilt interest ana the
negotiation was practically completed, when the Attorney-General of
Pennsylvania brought a suit to enjoin the transfer, and this suit in
Oct., 1886, was decided by the Supreme Court of Pennsylvania against
the transfer to Pennsylvania Company. Robt. H. Sayre, Pres. Office,
Harrisburg. (V. 42. p. 94. 148; V. 43, p. 488, 501, 7 6 7 ; V. 44, p. 23.)
Southern Central (N. Y .)—Owns from North Fair Haven, N .Y to Pennsylvania State Line, 114 miles. Leases the Ithaca Auburn A
Western, Freeville to Auburn, 38 m iles; State Line to Sayre, 2 miles.
Total operated, 154 miles. R oad forms an extension to Lake Ontario for
the Lehigh Valley Railroad, to which com pany it was leased from
Jan. 1, 1887, for 975 3 ears, without any guaranty o f Interest. The
consol. 5s are convertible into stock at option o f holders wit i. n ten
years, and $ 100,000 are held in trust to retire the prior bonds due in
1889. Comí any defaulted on August, 1886. coupon, and the Lehigh
Valley, as a holder of the bonds, consented to fund six coupons from
Aug. l, 1886, inclusive, into income bonds if the other holders did the
same. Capital stock paid in is $1,774,830. In 1885-86, gross earn­
ings were $467,068; net, $5 1,45 2; in 1884-85, gross, $454,237; def.,
$37,048.— ;V 44, p. 23.;
Southern Pacific C O M P A N Y ..—This corporation was organized
Aug. 14,1884, under the laws of the State of Kentucky, ft holds most
of the stock of the Southern Pacific o f California and the other railroad*
connecting with it to New Orleans, and leases each of those roads; also
has a lease of the Central Pacific for 99 years. The last report had the
following statement of the total stock o f each o f the said companies
owned b y the Southern Pacific Co. Dec. 31, 1885, and the table also
shows the percentage of net profits of the whole system payable under
the lease to the several lessor companies.
Total stock P . c. o r

»

S am e o f corp ora tion .

Stock o w .c d .

o f com p a ny, profit*.

So. Pac. RR. Co. of California.......... $43,684,900
$44,039,100
26*2
12
So. Pac. RR. Co o f A r iz o n a ............ 19,995,000
19,995.000
4
So. Pac. R R . Co. of New M exico . . .
6,688,800
6.888,800
5.000.
000 221*
Mor. L. A Texas RR. A SS. C o........
4,062,700
161«
27,085.100
Gal. Harris. A San An. R y. Co . . . . . 25,812,000
7i*
Texas A New Orleans R y. C o..........
5,000,000
5.000. 000
3 la
Louisian a Western RR. C o...............
3,360,000
3,360,000
4,922,100
M exican International RR. Co........
4 172,100
New Y ork Texas A M exican...........
594.000
814.800
T o t a l.......... .................................. $H3.H6v*.s< ’O $117,104,900
Galv. Har. A San Ant.,West. Dxv., 6s.
1,110,000
Total stock and bonds.......................$114,479,500

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STOCKS AND BONDS.

RAILROAD

M i t , 1837. J

9 9

Subscribers w ill confer a great favor by giving; Im m ediate notice o f any error discovered In these Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount
peí When Where Pavable, and by
Par
of
of
For explanation o f column headings, &o., see notes
Outstanding Rate
Cent. Payable
Road Bonds Value.
Whom.
on first page o f tables.
So.A Ho. A la. —(O ont'd) New bds.(for$10,003,000) j
South P acific Coast—S to o t........................... ..............
South P en nsylvan ia —S to o k (for $20,003,000)...........

(!)
$1,000,000
(!)
(!)
90,000
1,000
200 Ao.
3,299,200
100 88,560,430
10,000,000
1,000
500 Ao. 34,178,000
1,000
250.000
4,180,000
1,000
5,019.300
100
819,200
962,000
1,000
939,000
100. Ao.
200,000
1,000
300,000
1.000
1,009,000
1,000
2,500,90 )
1,000
4.500,000
1,000
475,674
500 Ao.
500,000
641,835
(1)
50
4,125,000
1,000
1,185,000
1,189,0)0
1,350,000
500
500,000
500,000
1,000
1,000,000
100
2,500,000
1,000
270,000
1.000
1.750.000 1

76

For three months from Jan. 1 to March 31, gross earnings on the whole
system (4.922 miles) were $7,402,855, against $6,873,739 in 1886
(1,677 miles); net, $2,296.4*-'0, against $2,812,535.)
The annual report for 1836 will show the earnings o f the whole system
(4.810 mi¡es) f >r the year to have been $13,283,227, plus rentals of
560.691, total. $13,843,913; fixed charges. $13,934,112; deficit,
30,214; construction, Ac., $ >60,8)6; total dell fit for year, $851,070.
—(V. 42, p 94. 158, 157, 213, 272, 303, 366, 464, 48*', 632, 751, 781 ;
V. 43, p. 103, 218, 335, 460, 608, 636,746; V. 44, p. 341,13 5, 527,634.)
Southern Pacific o f A rizon a.—1
This Is the connecting line of the
South. Pacific of Cal., extending from Yuma to N. M exico boundary, 384
miles. The stock Is $19,993,000. The bonds consist o f Scries A $6.0 >0,000, due 1909, and Scries B, $4,000,000, due 1910. Operated under lease
to Southern Pacific Co., the lessee paying all eharges and also 12 per cent
of the net profits (If any) o f the whole Southern Pacific system. In 1335
the gross earnings were $1,584,702, and surplus over all charges $118,029. From Jan. 1 to Deo. 31 gross earns, were $1,525,221in 1886. agst.
$1,564 705 in 1885; net, $847,592, against $864,550.- ( V . 41, p. 370.)

i

(S ee M a p .)—

Line op Road.—

The road in California is in two divisions—the North. Div. from San Fran,
to Tree Pinos, 100' q m iles; Carnadero Juno, to San Miguel Junction, 123
miles; and leased line, Castrovllle Juno, to Monterey, 15 miles; Santa
Cruz RR., 26 in.; total in North. Div., 267 m iles;—the South. Div., Huron
via Goshen to Colorado Riv., 529 miles; Los Angeles via Wilmington to
San Pedro, 27 miles; total South. Div., 553 miles; total South. Pacific In
Cal., 816 miles. A t Goshen the Southern Div. meets the San Joaquin
Branch o f the Cent. Pac.. by whioh it reaches San Francisco and the
main line o f Central Pacific. A t Yuma, oonnects with its olosely affili­
ated lines extending to Galveston and New Orleans. The Colora lo
Div. of 242 miles is leased and operated by the Atl. & Pao. Railroad.
O r g a n iza t io n 1, & c .—The Southern Pacific was a consolidation Oct. 12.
1870, o f several lines in California. The Central Paoifio RR. leased
the southern division, but in Maroh, 1385, this lease was annulled and
the whole line was leased to the Southern Paoifio C om pany on the basis
of lessees paying all charges, and giving to this com pany 26 per cent
of the annual net profits o f the whole 8. P. system. In October,
1884, leased to the A. & P. the 242 miles o f road extending from the
western terminus o f the A. & P. to Mojave, and right o f way over the bal­
ance of the line to San F rrno’sco, at a fixed rental- (See terms of this
agreement in St. Louis & S. F. report in C h r o n ic l e , Y. 40, p. 59 4.)
Stock and Bonds.—The authorized stook is $90,000,000, of which
$44,039,100 has been issued and is held mostly by the So. Pacific Oo.
The bonds above are in series A ,B , 0, D, E and F, of which A included
$15,000,000 and B, C and D each $3,000,000, the balanoe being divided
betweeu E and F; the bonds arc issued at the rate o f $40,309 per m 'le on
road and lands, except the Colorado Division, which is bonded at $ JO,0J0 per mile. The series A, B, C and D mature in 1905-6, the series E
and F in 1912. The bonds are a mortgage on the lands, and as proceeds
of lands come Into the hands o f the trustees, bonds are purchased and
retired. There is also a sinking fund o f $100,000 per year.
L and Grant.—The land grant was 12,840 acres per mile, and proceeds
of sales go to retire bonds. The total grant is estimated to furnish
10,445,227 acres, but a.large proportion o f the lands is barren and
useless for agricultural purposes without irrigation. In 1885 the sales
were 362,254 acres for $845,783; land bonds redeemed, $613,000;
land notes outstanding Deo. 31,188 5, $2,213,199.
The annual report for 1885 was published in the Chronicle, V. 43, p.
274. Income account was as follow s: Net profit under the lease over
all charges, $208,381; proportion of net profits of Southern Pacific
C om pany under the lease, $303,143; total net profits, $517,125.
Gross earnings No. Div. from Jan. 1 to Deo. 31. in 1986, $1,649,826,
against $1,281,764 in 1885; net, $811,967 in 1886, against $542,851 in

Southern Pacific o f New M exico.—Road extends from Ari­
zona State Line to the Rio Grande at El Paso, Texas, 167 miles. Oper­
ated under leif.se to Southern Paoifio C om pany, the lessee paying all
charges and 4 per cent of net profits (if any) of the whole So. Pacific
system. Stock, $6,888,800. Gross earnings in 1885 $683,249; surplus
$127,133. Gross earnings from Jan. 1 to D^o. 3 1, $6 >7,196
‘ Q.18»'.a g a in s t $633,250in 1885; n e t,$3 10,131,against $401,683.—(V.
44) p. o 70.)
i.„8o, ^ l l ,^ e “ t e r u « * » • )—From Macon, Ga., to Eufaula, 144 milef
nas 177 miles of branches, the main one being from Fort Valley to Co
umhus, 71 m’ ies. A lease was made Aug. 1 ,1 869 , to the Central RI
rfrw T o 0*1 assumes the liabilities and guarantees 7 per cent o
’ but 8 per cent Is to be paid if 10 per cent Is p aid on Centri
$32.Per share in 6 per cent debt certificates vn
declared by Central Georgia Railroad.
P ie ? “ *,Jr,l v a n l a . —Greensburg, Pa., to Fairchance, Pa
1>.1873>.and leased to PennsylvaniaRailroai
operates it at cost, paying net earnings as] rental. In 188
f i S , SSS

85W

S , S




I S

. “

d

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¿

49,438.

S tock s —Last

Dividend.

$10 )&o.
1,000

1st mortgage (tor $20,000,000)....... ........................
114 1869
Southern Cent. ( H . Y . ) - l a t mortgage b o n d s ............
114 1832
Consol, mort. (for $3,400,000) convertible............
S outhern P a cific OOM PA V P -S to ck ($100,030,003) 4,750
334 ’79-'80
South. Pac. o f A rison o —1st mort., gold,op. or reg...
South. P ac. ( Cal.) —1st m ort.,gold,land gr., op. or reg. 1,022 ’75-’82
15 1880
Monterey, 1st m ortgage..................... ................. .
167 1881
S outhern P acific o f H. M exico —Mort., coup, or re g ..
Southwestern t Oa.)—Stock, guarant’d 7 per annum 321
44
Southwest P en n sylv a n ia —Stock..................................
1877
1st m ortgage................................................................
6
Spuyten D u yvil A P o r t M orris —S tock.........................
24 1879
State L in e A Sullivan— 1st M., oonv. (red’ble aft.’88)
13 1873
Staten Isla nd— 1st m ortgage........................................
1883
Staten Isla n d R a p id T ran.— 1st m., $ or £ . op.or reg. All.
1886
2d mort. guar by B. & O. op. or reg., gold...............
1885
....
Inco nes, gold (non o a m .).........................................
7% 1831
S terling M oun tain (H .Y .) —1st mort., income, guar.
45 1875
Stockton A Oopperopolis— 1st mort., (guar, by C. P.)
S uburban R apid Transit —Stook ($ i,600,000) . . . . . .
1st mortgage bonds .......................................... - ........
20
S um m it B ran ch (P a .)—S took.......................................
20 1874
1st mortgage bonds.......................................... .........
43 1878
S a n b u ry Hazleton A W ilkesbarre—1st m ortgage.. . .
43 1 1878
2d m ortgage.................................................................
43 V 1876
Sun b u ry A L ew islow n —1st m ortgage........................
23 1
Suspension B rid g e A E rie J u n ction —S tock.. . . . . . . . .
23 1870
1st mortgage.................................................................
81 1 1875
S yracuse B in gh am ton A If. Y.—Stook.........................
81 1 1867
2d mortgage (now first).............................................
81 1 1870
Consol, mortgage (guar. D. L. & W .).......................

Southern Pacific (o f California).

¡B o n d s —Princi-

In

188.

7
5

F. & A.
F. A A.

o r

6 g6 g.
5
6 g.
3*9
5
7
4
7
7
6 g.
5 g.
?*■
5

J. A J.
New Y ork b ltv .
A. A O . N. Y .. Mills Building.
do
do
A. & 0 .
J. A J. N. Y., Company’s O Hoe
J. A D. Savauuah.Oeut.RR. Bk.
M. A S. Phlla. and Greensburg.
Philadelphia OlHoe.
F. A A.
New York.
J. A J.
J. A J. N Y ., Union Trust Oo.
A. A O. N . Y., S. I. Rap. T. Oo.
A- A O. N. Y .t Loud. A Glasgow.
J. A J.
New York.
do
Feb.
J. A J. N. Y ., Central Paoifio.

3
7
5
6
7
7
7
2
7
7

F.
J.
VI.
VI
J.

A
A
A
A
A

Aug. 1, 1899'
Feb. 1, 1922
Mar., 1999-10
1905-6 A 1912
April 1 ,1 9 0 0
Jan. 1, 1911
Deo. 22. 1 8 9 »
Mar., 1897
Feb., 1917
Jan., 1887"
Jan. 1, 1 8 9 9
April 1 ,1 9 9 3
Jan. 1, 1913Jan. 1, 1 9 2 »
J a i. 1. 1946
Ju ly 7. 1 8 9 »
January. 1 9 0 »

A. Phlla., 233 So. 4th St.
J.
do
do
N. Philadelphia, Pena. RR.
do
do
N.
J. Phlla., Guar. T. A D. Co

J. A J.

—Mar
J. A D.
A. A 0.1

Feb. 1 6 ,1 8 7 »
Jau. 1. 1904
May 1, 1928
May 1, 1938
July 1, 1396
Yearly.
ST. Y. Lake Erie A West. July 1, 1900
ST.Y., D. L. A W. RR. Oo. June 1, 18 87
June, 1837
do
do
Oot. 1, 1906
do
do

Leased to New York Central November 1 ,1 8 7 1 . Rental Is 8 per cent on
oa pltal stock of $989,000. Operations are Included in lessee’s returns.
State Line Sc S u lliva n . —Owns from Monroeton, Pa., to Berenice
Pa., 25 miles. Originally organized as Sullivan fc Erie Coal & Railroad
Oo., whioh was sola in foreolosare Oot. 14, 1874, and a new oompany
formed Deo. 2,1874, under the present name. Stook, $990,000 (par $50).
The mortgage oovers 5,000 aores ooal lands. In May, 1834, this road was
teased to the Penn. & N. Y. Canal & RR. Oo. for fifty years, at $38,000
per annum for three years and $40,00J afterwards.
Staten Isla n d . —Local road on Staten Island, Clifton to Totten*
vtUe, 13 miles. R oad is operated in connection with Staten Island
Perry Company. Capital stook, $210,000, par $15 per share. Leased
to Staten Island Rapid Transit Co. for 99 vea *s from J i l y 3 1 ,1 3 8 4 , at
$80,600 per annum. Dividends in 1835-86, 26,66 pero mt.
S ta to n I s l a n d R a p i d T r a n s i t R R . —This Oo. was incorporated
under the general law of New Y ork State. The line o f road is around
Che Staten Island shore, east and north sides, from Van 'erbilt Lauding
(lunotion with the S. I. Railway) to a point opposite Elizabeth port, N.
J. It has a 99 years’ lease o f the S. I. Railw ay and controls the Ferriesso N. Y. City. In November, 1835, the agreement with Belt. A Ohio
was reported for making the terminals o f that RR. Oo. at New Brighton
by means o f a bridge over the Kills at Elizabethport. The B. & O:
guarantees the 2d mort. bon is o f this Go., and owns a m ajority o f Its
»took o f $500,000. Tue income bon Is are held bv the B. & O. and 8 . 1.
R. T. oos., one-half each. Gross earnings in 1334-5, $122.989; net,
$55.074; def. under interest, taxes, An., $30,773 Gross earnings in
1885-86, $298,614; net, $76,863; deficit under Interest, rentals, Ao.»
$111,979. (V. 43, p. 12 ; V. 44, p. 495.)
Sterling M o u n ta in (N. Y .) —Road runs from Sterltngton on th&
Erie Railway to Lakeville, 7 6 miles. Bonds guaranteed by Sterling Iron
& Railway Co. Stook, $80.000. Earnings in 183 5-85, $26,017 gross
and $6,924 net: in 1881-85, $20,216 gross and $9,376 net.
Stockton Sc Cop pero p o ll«.—Present oompany is a consolidation,
made Nov. 17,1877, of the Stockton A Copperopolis and the Stockton A
Visalia. Line o f road, Stockton to Milton and Peters to Oakdale,Cal., 4 9
miles. Leased to Central Paoifio Railroad Company for thirty y ears
from December 30.187 4. B y the terms of the lease the lessee agrees topay principal and interest of the bonds. Capital stock, $234,500. Tho
sompanv previously made default July, 1874, and the $1,000,000 o f
/»id bonds were exchanged for the present issue guarauteed. I a 1885,
gross earnings, $76,817; net. $ 13,003.
Suburban R a p i d T ra n sit,—This com pany has built a bridge
across the Harlem River, N. Y. City, and is in operation to 105th Street,
N. Y. Tne line as laid out is 14#90 m ies long. L b t li information ha»
vet been obtainable conoem tng Its finances. In July, 1380, the Man­
hattan Elevate l stocknoldsrs were offered the privilege of taking it*
sto fit and bonds. Samuel R Filley, President, 40 Wall Street.
Su m m it B ran ch (P a ,)—This oom pany leases the Lykens Valley
RR., and it has a small branch o f its own to Summit Mines, % o f a mile.
The road is operated b y the Northern Central under contract. Traffic la
almost exclusively coal. Gross receipts In 1886, inclnd. ooal, $7 32,6 24;
net, $13,089. Gross In 1885, $1,402,405; net, $1 74,648; interest, $8 3 ,195; net profit in 1885, $110,529. (V. 44, p. 285.)
Sunbury H azleton Sc W ilk esb a rre. —Sunbnry to Tomhloken,
Pa., 43 miles. Foreclosed Maroh, 1878. Stook, $1,000,000. The Penn.
Railroad has a large interest in it. Gross earnings In 1885, $493,197:
net, $267,255. Gross in 1886, $425,361; net, $195,538. J. N. Du
Barry, President, Philadelphia. (V. 43, p 275.)
Sunbury Sc Ije w lsto w n .—Selinsgrove Junction to Lewistown».
Pa., 43 miles. Leased to Pennsylvania RR. fo r contingent interest In
net earnings, which in 1884 were $105,855; in 1885, $168,288; in 1886»
$123,536. Stook, $600,000 and div’s of 6 per ot. a year have been paidSuspension Bridge Sc Erie J u n ctio n . —East Buffalo Junctionto Niagara Falls and Suspension Bridge, 23 miles; Look. & Buff. R B .
leased, 14 miles; total operated, 37 miles. R oad opened January, 1871.
It is leased to New Y ork Lake Erie A Western Railroad Co. at 30 per cent
of gross receipts, whioh are guaranteed to be not less than $105,000 per
annum. Lessees ow n all stock except 297 shares.
Syracuse B in g h a m to n Sc N ew Y o r k . — Owns from Geddes*.
N. Y., to Binghampton, N. Y ., 81 miles. Chartered as Syracuse A Bing*
namton and opened Oot. 23, 1854; foreclosed and reorganized ApnJi
30, 1857, and leased to Delaware Lackawanna & Western. In 1883-84
gross earnings, $742,024 ; net, $307,418; interest, $141,400; divi­
dends (6*fl p e rc e n t), $162,500. In 1884-85, gross, $692,761; net,
$275,329; int. $141,400; div. (4 p. o.), $100,000; surplus, $33,929.
Syracuse Geneva Sc C orning.—Owns from Coming, N. Y., toGeneva, N, Y ., 58 miles, -and Penn Yan to Dresden, 6 mil i s ; total, 64
miles. This road was opened December 10, 1877, and is leased to*
the Fall Brook Coal Co. at a rental of 33 V per cent o f its gross earn ­
ings. Stock is $1,325,000. In 1884-85 gross earnings were $671,690;.
net, $163,611; rental, $223,897; taxes, $10,559; deficit to lessee,.
$70,844. In 1885-6, gross, $638,921; net, $167,434; rental, $212,974;
loss to lessee, $45,540.
Syracuse Ontario Sc N ew Y o r k . —Owns from Syraonse, N. Y .f
to Earlville, N. Y., 45 miles. The Syracuse A Chenango Valley R ail­
road was sold in foreclosure and a new company organized Maroh 14»
1873, under the name o f Syracuse A Chenango Railroad; on April 15»
1877, road was again sold fin foreolosare and still again reorganized

1 0 0




INYESTOKS’

SUPPLEMENT.

[V ol , X L lv

Ma t , 1887.]

RAILROAD

STOCKS

AND

BONDS.

1 0 1

Subscribers w ill confer a great favor by givin g Im m ediate notice o f any error discovered Ira these Tables.
DESCRIPTION.
Miles Date Size, or
Par
of
For explanation o f column headings, Ac., see notes o f
Road. Ronda Value.
on first page o f tables.
S yracuse Geneva <£ C ornin g —1st mortgage . . . . . . .

2d mortgage............................................................ -

S yracuse Ontario <&New Y ork —B o n d s ...................

57
43

1875 |$100Ao.
1,000
1879
1883
1883
50
1,000
1873
50
1,000
1879
1883
1,000
1,000
1837
1,000
1879
1,000
1881
1,000
1834
1875
1,000
1882
1,000
1883
100

2d mortg . Income.......................................... - ........
114
Bonds ot 1873 ooupon & reg..................................
116
Torre H a ute <£ Logans p ort .—sto ck ...........................
93
1st mortgage, guar, by Terre Haute & Iud’napolls
65
1st mortgage, extension (2d on 93 m ile s )............
173
Terre H aute <t P eoria —1st mortgage, g o l d ..............
177
Texas C entral —1st mortgage, g o l d ............................
52
N. E. Div., morfc., gold (2d on 177 m iles)..............
228
General mortgage, (pledged)....................................
105
Texas <£ N. Orleans o f ’ 74—1st mortg. land gr., coup
104
Sabine Division, 1st mortgage, gold........................
Debentures ...................................................................
Texas <6 Pacific —Stock....................................................
524 1875
1st mortgage, gold, coup. (E. D iv .).........................
524 1875
2d mort., consol., gold, coup. (E. D iv.)....................
524 1875
Incom e and land mort.. £ . Div.. reg........................
’79-’ 85
Scrip for int.on ino.mort.(red’mable in st'kor land)
521 1880
1st mort., gold, Rio Grande D ivision ....................
336 1880
New Orleans Pacific, 1st m ortgage...........................
.487 1884
General and terminal mortgage ($6.500,000)....... 1.487
54 I 1852
Tioga R R .— 1st mortgage, due 1882 and e x ten d ed .
54 ! 1876
Consolidated m ortgage..............................................
20 1875
Extension bonds..........................................................
7 1 1875
Elmira State Line Railroad m ortgage.....................
61 1881
Toledo A nn A rb or <6 N. M ich.—1st (T. A. A. & G. T.)
106 1 1834
1st mort., gold ($2,120,000)................................... .
55
Toledo Canada Southern <1 D etroit —Stock.................
Terre H aute <fi Ind ia na polis —Stock ($1,988,150)..

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

1,000
1,000
••••

under present name In 1883.
The N. Y. West Shore & Buffalo acquired
control of the property. Stock, $-104,600. Earnings in 1885-86, gross,
88,505; deficiency after charging out interest account, $47,811. In
884-85 gross earnings $91,596; dettoienoy after oharging interest.
$73,096.
Terre H aute dc In dian ap olis. —Owns from Indianapolis to fill
nois State Line. 79 in., with coal branches, 34 in.; total, 113 in. The road
was opened in Ì852 (as Terre Haute & Richmond). The company leases
and operates the Terre Haute A Logansport R R ., also the St. Louis
Vandalia A Terre Haute Road on Joint account with the Pittsb. Cm. & St.
Louis RR., at 30 per cent o f gross earnings, but guarantees the first and
second mort. bonds. In 1883-4, gross earnings, $1,127,388; total net
Income, $375,056; interest and 8 per cent dividends, $271,052; loss on
T. H. A L. lease, $83,449: loss on St. L. V. A T. H., $14,310 ; surplus
for year, $6,245. in 1884-85 gross earnings, $1,060,631 ; income, $358,470; interest a n d 6 p. ot. dividends, $231,289: loss on T. H. & Logans,
lease, $76,634 ; betterments to T. H. A L. road, $45,202 ; surplus for
year, $5,345.

f

Terre H aute dc L o g a n s p o r t . —Owns from South Bend, Ind.
to Rockville, Ind., 159 miles; leased, Rockville to Terre Haute, 22 miles.
Total operated, 182 miles. Formerly Logansp. Crawfordsv. A Southw.,
which was sold in foreclosure Sept. 10, 1879, and reorganized under
present name. Leased by Terre Haute A Indianapolis Railroad for 2S
per oent o f gross earnings, and first mortgage bonds guaranteed by
that company. Rental in 1883-84, $85,526; loss to [lessee, $83,449.
Rental in 1384-85, $103,562; loss to lessee, $121,836.
Terre H a n t « dc P eoria.—R ood operated from Terre Haute, via
Decatur, to Peoria, 173 miles. This is the new company form ed in Jan.,
1887, as successor o f the Illinois Midland, sold in foreclosure Sept. 30,
1886. That road embraced by consolidation the Peoria Atiauta & D ec­
atur, Paris A Decatur and Paris & Terre Haute. The stock is $2,160,000 pref. and $3,240,000 com. The bonds were issued to pay off receiv­
er’ s certificates and to furnish m oney fo r steel rails, equipments, do.
In New York, Mr. Simon Borg and associates were largely interested
in the property. (V. 43, p. 217, 431, 738 ; Y. 44, p. 184, 495.)

Amount
$897,000
600,000
900.000
500.000
1,401,880
1,600,000
500.000
500.000
1,000,000
1,800.000
2.145.000
1.254.000
2.288.000
1,620,000
2.075.000
584.000
34,173,600
3.784.000
9.316.000
7.992.000
2.240.000
13,028,000
6.720.000
2 ,8 '9 ,0 0 0
239,500
125.000
265.000
160.000
1.200.000
1,600,000
1.547,662

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

7
5
6
6
3
7
6
6
5
7
7
6
7
6
6

M. A N. N.Y., Farmers’ L.A T.Co. Nov. 1 5 ,1 9 0 5
M. & S.
Mar. 1. 1909
1933
1983
F . A A . N.Y.,Farmers L. A T.Co. Feb. 2, 1887
A. A 0.
do
do
1893
J. & J N.Y., Farmers’L.AT.Co.
J. & J.
do
do
g. IM. A S.
New York Agency.
g. M AN
Last paid Nov., ’ 84.
g. M A N
Last paid Nov., ’ 84.
M. A N. Last paid Nov., ’ 84.
F. & A N. Y., Company’s Ottioe.
do
do
g. M. A S.
J. A J.
do
do

6 g. M. A S.
6 g. J. A D.
July.
6
6 g. F. A A.
6 g- J. A J.
6
A. A 0 .
5
M. A N.
7
M. A N.
7
A. A O.
7
A. A O.
6 g. 1J. A J.
6 g. M. A N.

Jau. 1, 1910
.Tan. 1, 1913
Mar. 1, 1937
Nov. 1, 1909
May 1, 1911
Nov. 1, 1934
Aug. 1, 1905
March 1, 1912
1893

Last paid Sept.. 1885. Marob 1, 1905
Last paid D ec., 1885. June 1, 1905
New York A Pliilad’phia Jan. 1, 1915
Last paid Aug., 1885
Last paid July, 1885
Last paid Oct., 1885
Phil.,Newbold Sons ACo

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

1,
1,
1,
1,
1,
1.
1,
1,
l,

1930
1920
1905
1915
1896
1905
1895
1921
1924

In 1884 the com pany becam e embarrased. In Deo., 1885, L. A.
Sheldon and John C. Brown were appointed receivers o f the com ­
pany on application of the Mo. Pacific RR. C o , a large holder
of floating debt. There was much difference between the W istar
plan o f reorganization and the Fleming-Oloott scheme, and the
combination plan form ed by the ju nction o f the tw o committees was
mentioned in V. 43, p. 163,19 1, 218. This plan provides that the old
first m ortgage due 1905 shall stand, and all others shall be foreclosed
A new 5 per cent first mortgage, “ A ” (subject to the oldrn orts. and
Texas lien, $3,951,000 in all), shall be made for $25,000,000, and a new
5 per cent Income seoond m ortgage, “ B.” for $25,000,000, uou-eumulative. These w ill be distributed to the holders of old bonds as stated
in Y. 43, p. 164, except that holders of Land Incom e bonds will take 60
per cent in the new “ B ” bonds in addition to the lands. The new stock
will be {50,000,000 authorized, and will be issued share fo r share to
old stockho ders who pay the $10 per share cash assessment. A land
company will be formed, and its stook issued to holders o f the land sorip
and the Iucorne land m ortgage bonds as follow s: Sorip holders will
receive 125 per oent for their scrip and interest to July 1,1885. Bond­
holders w ill receive par for their bonds without any interest. A cash
assessment o f 1 per cent to be paid on the land com pany’s stock to pro­
vide working capital.
v
No report for 1885 was issued, but the gross earnings were $5,826,-

T l o g a . —State line Junction, N .Y ., to HoytvlUe, Pa., 61 miles, and
Blossburg, Pa., to Morris’ Run, Pa., 3 miles, of which is leased Elmira
State Line Railroad, State line New York to Northern Central Railway Junction, 7 m iles; and Arnot & Pine Creek RR., A m ot to H ovtville. Pa.. 12 miles. Controlled by N. Y. L. E. & w Gross earn in ira m
1885-86, $393,454; net | 1 6 iL 2 8 lf surplus over i n t c r e s t T r e n S ^ c “
$96,961. The stock is $391,200 com. and $189,700 pref.

T e x a s C e n t r a l .—Line o f road from Ross, in McLennan Co., to
Toledo A n n A rbor dc North H lchlgan.-r& ee Man.)—Owns
Albany, Texas, 177 miles ; Garrett to Roberts, 52 miles ; total, 229 from Toledo, O., to Mt..Pleasant, Mich., 171 miles, which carries the
miles. Is controlled in Houston & Texas Central interests, by which rojMl into the heart o f the lum ber region of M ichigan; and branches
company it is operated; but accounts are kept separate. The authorized to South L yon and M acon Stone Quarry, 10 m iles; total, 182 miles
stock is $1,000,000; total issued, $130,200, o f which H, A T. C. holds, Capital stock “ $4,040,000. The old first m ortgage on 61 miles covers
$50,000 ; Morgan Co., $75,000 : directors, $5,300. Defaulted in interest the Southern Division, form erly called the Tol. A nn Arbor & Grand
in 1885, and Judgment of foreclosure rendered in April, 1887, road to be Trunk Railroad. The annualreport for 1886 w asin V 4 ^ p 584 Gross
sold June 29,1887. (V. 42, p. 61; V. 44, p. 495.)
earnings were $380,251 and net $158,156; interest «barge, $145 6ü0
James M. Ashley, President, 150 Broadway, N. Y. (V. 42. n 126 272
T e x a s dc N e w O r le a n s ( o f 1 8 7 4 ) .—Houston, Tex., to Orange 397, 5 4 8 , 549; V . 43, p. t>08, 635 ; V. 44, p f 401, 527, 5 8 4 .)
’
’
(Sabine River), 104 m iles; and Sabine City to Rockland, 104 miles ;
total 208 miles. Belongs to the Huntington Southern Pacific system,
together with the Louisiana Western. This was a reorganization, 1874,
D e t r o i t . —Toledo, Ohio, to D etroit
of the old Texas A New Orleans RR. The stock is $5,000,000, and
o o miles. R oad opened September 1,1 873 . Oper­
a controlling interest is owned bv the Southern Pacific. In addition to ated b y Canada Southern. The bonds were exchanged into Canada
Southern first mortgage bonds at 70 per oent of face value. 10 Uanada
, *!®r year 1886 annual report was in V. 44, p. 620 ; gross earnings in
¿885 were
net, $462,273. In 1886 gross earnings were
$998,169; net, $482,136; surplus over charges, $114,989. C. P. Huntm ^ n , p Preerdent, New^ York. (V. 42, p. 243, 5 7 4 ; V. 43, p. 133,163;
T e x a s & P a c i f i c . —(See M ap M issou ri P a cific.)—E a stern Division From Texarkana to Marshall and thence to Fort Worth, 253 milesTexarkana Junction to Whitesboro, 239 miles ; Marshall to Shreveport!
eastern division, 532 miles. Rio Grande Division—
Worth to Sierra Blanco, 524 m iles; Sierra Blanco to El Paso(joint
J w S u , 9i- “ dee; Gordon Branch to coal mines, 3 miles; total Rio
Grande division, 619 m. New Orleans Division—(Formerly N. O. PaciT o ta fo f a U ^ I I ^ ^ iiie s ^ ' ° ' and Batou Rouge Branch, 336 miles.

, f 0/ 6,^0 4?
C e n t r a l .—(See M ap C olum bus H a ck in g Valien
A T o led o ).-O w n s ¡from Toledo, O., to Coruing, 184 miles, including l^
miles leased ; H adly Junction to Columbus, 2 9 miles, includiug S miles
leased; total operated. 213 miles. This com pany was formed after sale
in foreclosure of the Ohio Central main line on April 15 1885 Th e
preferred stock is $3,108,000 and com m on $1,592,000; thé t o t m ort
gage is for $5,000 000, but no more than $3,000,000 can bo £ d
except by consent o f three-fourths o f the present bondholders T he
w o n lt
their interest guaranteed by the Columbus & H ooking
r
?
an£ ky an agreement with that com pany the stock o f
S ™
° £ ered iu ^ c h a n g e for three-fourths o t t i e new stock
ofT oL & O. C., in the proportion o f one share o f C. & H. V. fo r one o f T
& O. C. preferred, a n d one share of C. & H. V. for tw o shares o i T A r t
C. com m on ; the remaining one fourth of T. & O. C. stock, together with’
all that acquired by C. & H. V . b y the exchange, were deposited with
trustees. Afterward tlie trustees, od the request of three-fourth« o f tiw*

.J 5 he. ? exa8.& ,Pa.ciflc wa8 bnilt under act oi Congress of March 3,1871,
? its in 1872 to ’74, and the laws o f Texas. This company suc^ d e d t o t h e r i g h t of the Memphis El Paso & Pacific Railroad ¿S doth er
contract made in January, 1880, with the Pacific
^
Company, the road was extended towards El
K S W m 'hf
“ eet the Southem Pacific of California, with
^ „ ’“00 in bonds and $25,000 in stock per mile o f road. The Fidelity
D - . Co- o f Philadelphia is Trustee of the Rio
share for
^ consolidation with New Orleans Pacific,
snare lor share, was voted in May, 1881. From the State of Texas
east nfm£n^yw «i?iived 1032.40 acres o f land per mile, and by building
^ oria and to Burlington, la,, 17 m iles• total miArafnii
are a lien as also earned 4,931,702 acres, on which the income bonds
Tdis
form erly the Tol. Peoria & Warsaw, then the Tol
hinds -ve?
2,d mortgage on the road east o f Fort Worth. The
such was leased to and virtually mergt d in the
¿ a ì ™ !old SÌ the time o f last report, Dec. 31, 1884. were Wabash bt. Louis & Pacific.
A fter the Wabash default in Julv 1884
cé n tto the line o f the^o^ds0« d 1f ,nd?nin TtF as’ however, do not lie adja- foreclosure proceedings were begun, and a sale was reached Oct 29’
in counties alon i*t h « ^ 5 owning them, but these are located in part 1886. Reorganization is in progress, and it is proposed to give to eaeli
? 1Ubflr8î,m'“ ^ a g , bondhi ld erscn en ew $1,000 bond anu 10 shares
TS6GS i f t l i n d
pk°s3o ° c & r ee be“ s ta new stock;
all other stocks and bonds extinguished. The total n«w
o rta m . ana at
. X e o K X f f i S 1' “ N e w Î !(Y
p 435 )000,000 b0Ud8 and $5’000’000 stock, see V. .44,p. 30a




102
INVESTORS’
SUPPLEMENT.

íYou ****•




RAILROAD

M a t , 1887.]

STOCKS

AND

RONDS,

10S

Subscriber« w ill confer a creai favor by givin g im m ediate notice o f any error discovered 114 •■IvnV dWMOTt
DESCRIPTION.
K
i
l
lVI Wiiuuu uv «vuuqq|

on first page o f tables.
Toledo P eoria rf TTesf.—1st M., new (far $5,000,000)
Toledo St. L. <£ K a n sa s O ily—S took...........................

Pref. 4 per ct. coupon stook, non-oum ulative.. . .
1st mortgage, gold (redeemable on n o tice )...........

Tonawaruia Valley <£ Cuba —1st mort. ($500,000).
t r o y <6 Boston— 1st mortgage, consolidated............

2d consol, mortgage (for $1 ,000 .000 )............

Tyrone 4 C learfield—Stock....................................... .

1st m o r t g a g e ...........................................................
Ulster id D elaw are—1st m ortgage........................... .
2d mortgage Income bonds.............................. .
United ,V. J. HR. <t C anal C om panies—Stook..........
Gold bon ds....... ..........................................................
General m ortg.,gold and currency, cou p ...............
Uni tea Co.’s mortgage, sinking fond, registered,
do
sterling loan mortgage, sinking fund
do
do
do
do
do
do
dollar loan, m ortg a g e...................
do
gold loan, r e g ........................
Joint Oo.’s plain bonds.
do
consol, mort. (sink'g fund after 1880)
N. J. RR. A T. Co., 3d loan due State o f N. J .........
Unton P acific —Stock......................................................
1st mortgage, gold, on road and equipment..........
2d mortgage ourrenoy (Government su b sid y)....
3d
do
on road (2d on land), sinking fu n d ..
Land grant b o n d s ......................... .............................
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
Collateral Trust bonds......................................
Collateral trust oonds o f 1883, g o l d ......................
Rails. Pao., cons. M..,g.(for $30,000,000),op.orrg.
do
1st M.. g, op., on 140ra. west Mo. Riv.

of
Road
196
230
451
451
451
60
35
53
64
74
429
238

1Road*—Prin oiINTEREST OR DIVIDEN DS.
Size, or
Amount
Par
of
Outstanding Rate pei When Where Payable, and by S tocks - Last
Cent. Payabh
Bonds Value.
Whom.
Dividend.
1885
1887
1886
1881
1874
1878
1875
1875
1883
1873
1871
1871
1871
1871
1878
1854
1862
1868

4,594
1,038 1866-9
1,038 1866-9
1,038 1874
1867-9
1871
1879
1883
1879
140 1865

$3,000,000
m
12,250,000
4,805,000
9,000,000
500,000
1,421,000
925,000
1,000,000
1,000,000
1,000
200,000
1,000
1,400.000
100 Ao.
100 21,342,400
1,342,000
1,000
5,669,000
1,000
2,000,000
1,846,000
1,800,000
154,000
841.000
866,000
5,000,000
100,000
60.868,500
100
27,229,000
1,000
1,000 27,236,512
14,483,000
2,706,000
1,000
1,621,000
£200
1.000
4,541,000
1.000
4,567.000
14,905,005
1,000
1.000
2.240.000
$ 1,000
1,000
100
100
1,000
1,000
1.000
1,000

Toledo St Louis A K a n sas C it y . —(Set M ap .)—From Toledo to
8t. Louis, 451 miles. This company was form ed June 12, 1886, b y con­
solidation, and it took all the main line o f the Toledo Cin. A St.
Louis narrow gauge road, foreclosed Deo. 30 ,138 5. The present com ­
mon stook and the first mortgage bonds were issued for the purohase
o f the property, payment o f receiver’s liabilities, broadening the gauge,
Ao., Ac., and $ 1.«'00 per mile o f said m ortgage bonds were reserved
for obtaining standard gauge equipment. Provision has been made for
the payment of luterest for tw o years. See full statement as to this
oompauy in V. 43, p. 74.
The status o f the Tol. Cin. A St. Louis from time to time was given in
the S u p p l e m e n t up to Juno, 1886. The only stock or bond holders of
the Tol. Cin. A St. Louis who reoelved anything for their holdings were
the first mortgage men, who took 150 in new pref. stook for Tol. Delohos
A B. firsts and 100 in new pref. stook for St. Louis Division firsts. See
circular in V. 43, p. 432. (V. 4 !, p. 23, 207, 366.397, 431, 550, 721, 755:
V. 43, p. 73, 369,43 2, 580, 63 4; V. 44, p. 459, 499.)
T on aw an d a Valley 4c Cuba. —Owns from A ttica, N. Y. to Cuba,
N. Y., 60 miles. Stock $587,100. $113,000 o f 1st mort. bonds were re­

served to redeem same amount o f 6 per cent bonds due 1910. Mr.
Bird W. Spencer was appointed reoeiver in 1884 and reorganization is
pending. Gioss earnings in 1885-86 (8 mos.) $10,624; delott, $3,195.
Gross in 1834-85, $18,694; def., $5,073; other receipts, $2 ,929; net de­
ficit, $2,143. (V. 42, p. 23; V. 44, p. 235.)
T r o y A B o s t o n . —Owns from Troy, N. Y ., to Vermont State line, 35
miles; leased: Southern Vermont 5 m ues; Troy A Bennington, 5 m iles;
Vermont State line to North Adams, 6 m iles; total operated, 53 miles.
Stock, $1.645,600. In addition to the above bonds there were out­
standing Sept. 3 t, 1886, several smaller issues o f bonds amounting to
$306,500. In January, 1887, an agreement o f consolidation was made
with the Fiti-hburg o f which the terms were given in V. 44, p. 544.
Earnings for three years past w e re : In 1883-84, gross, $483,561; n t,
$192,539; in 1884-85, gro.-s, $420,743; net, $192,724; in 1885-86, gross,
$475,206; net, $230,989. (V. 44, p. 59, 9 1 ,1 1 9 , 309, 421, 527,544,551.)

i *

J. A J N. Y ., Central Trust Co

4
J. A J First coup, due Julv. ’ 83.
6 g. J. A D
New York Agericv.
6
M. A 8
New York Ortioe.
J. A J N. Y ., Nat. B ’k o f Com.
7
A. A 0 .
7
do
do
J. A D. Phila., 233 South 4th.
5
J. A J.
7
J. A J. Rondout. Co.’s Office.
F. A A.
7
New York.
2
Q.—J. Phila. and N. Y. Offices.
4
F. A A. Philadelphia Office.
do
do
6 g. M. A 8.
6
A. A 0. Phila., Pennsylv’a RR.
M.
A
S.
London.
6 g.
6 g. M. A S.
do
6
F. A A. Phila., Penn. R R . Offloe.
do
6 g. M. A 8.
6
J. A D.
Prinoeton, N. J.
M. A N. Philadelphia Office.
6
6
A. A O. N. Y ., B ’ k ò f Commerce.
Q.—J. New Y ork and Boston.
1%
J.
A J.
do
do
6 g.
6
I. A J. U.8. Treas., at maturity.
8
Vf. A 8. New Y ork and Boston.
A. A O.
do
do
7
8 g. A. A O. London A New York.
r. A J. N. Y ., Union Trust Co.
6
r. a D. 3oston, N. E ngl’d Tr.Co.
5
6 g. VI. A N. N. Y., 40 Wall Street.
6 g. F. A A.
do
do

July 1, 1 9 85

June 1, 1916
Sept. 1, 1932
1924
1903
June, 18 87
July 1, 1905
July 1, 1905
April 10, 1887
Feb. 1. 1923
Moh. 1, 1901
Oot. 1, 1894
Moh. 1, 1894
Moh. 1, 1894
Feb. 1, 1888
Sept. 1, 1908
«a n . 1, 1889
Nov. 1, 1889
Overdue.
A pril 1, 188
1896 to 1 8 9 9
1896 to 1899
Sept. 1, 1893
1887-’ 89
A pril, 1896
Ju ly 1, 190
Deo. 1, 1907
M ay 1, 1919
Aug. 1, 1895

ated by Union Pacifio. The U. P. also has large interests in the St. Jos«
& West. R R ., 251 miles; the Utah Central. 280 m.; Leavenworth T opeka
& S. W., 47 m.; Manhattan Alma A Burlingame, 56 m. and Nevada Cen*
trai, 93 m. ; total, 738 miles, all of which are operated separately.
In 1886 a lease of the Oregon R ailw ay & Navigation Company to thb
Oregon Short Line, guaranteed b y Union Pacifio was negotiated.

Organization, A c.—This com pany, the Union Pacific R a ilw a y , w as
formed by a consolidation, Jan. 24 ,1 8 8 0 , o f the Union Pacific R R . and
the Kansas Pao. and Denver Pac., made under authority o f the aots o f
Congress of July 1 ,1 8 6 2 and July 2,1 864 . The Union Pao. R R . was
chartered by A ct of Congress of July 1 ,1 8 6 2 , whioh gave the oom pany ai
land grant of 12.800 acres per mile, estimated at a total of 12,083,227
acres, and a subsidy in U. S. bonds of $27,236.512 on 1,033 miles o f road.
The Kansas Pacifio was organized as “ Leavenworth Pawnee A W est
e m " in 1861; then changed to “ Union Pacifio, Eastern Division,” June
6 ,1 863 , and to “ Kansas Pacific” on March 3, 1869. The Pacifio Rail«
road aots o f 1862 and 1864 applied to this road, and gave it a subsidy
of $6,303,000 and a land grant o f about 6,000,000 acres.
The Denver Pacific—Denver to Cheyenne, 106 miles—w as built under
the charter o f the Union Pacific, E. D. (Kansas Pacifio).
As to the debt o f the Pacifio railroads to the United States Govern-«
ment a decision of the U. 8. Supreme Court settled the p oint that the
payment of Interest on the loans was not obligatory on the companies!
till the principal of the bonds became due. A fterw ards Congress passed
the Thurman A ct, May 7 ,1 8 7 8 , which, for the Union Pacino, p rovid ed
that 25 per cent o f the net earnings, after deducting interest on the!
first mortgage bonds and construction and equipm ent expenditures.
should be paid annually to the Governm ent as follow s : First__
Applied directly to interest account, one-half o f Governm ent earth­
ings and 5 per cent o f net earnings, after deduoting Interest od
first m ortgage bonds. Second—To be plaoed in the sinking fund—
the other h a lf of the Government earnings and so muoh o f $850,000 a$
may be necessary to make all the payments by the oom pany equal 25
per cent o f its net earnings. On Deo. 31, 1886, this sink, fund invested!
in U. S. bonds (par value) was $5,526,100, and the premium paid on
bonds and cash uninvested was $1,395,708; total, $6,921,869.

Tyrone A Clearfield.—East Tyrone Pa., to Curwensville, Pa., 44
Stock and B onds.—The capital stook Issued and outstanding la
?
iiiilRs; total, 64 miles. This company was organized
April 1,1867, after sale In foreclosure. It was leased to the Pennsyl­ $60,868,500, having been increased about $10,000,000 since the consoli-«
vania Railroad in 1878 and new lease for 50 years made in 1382. Gross dation in 1880. Dividends since 1879 have been as follow s : in 1880, 8
earnings in 1885, $551,000; net, $121,344. Gross in 1886, $484,142; per cent; in 1881, 6%; in 1882,7; in 1883,7; in 1884, 3 % none since.
net, $155,830. J. N. Du Barry, President, Philadelphia, Pa.
The yearly range in prices o f the stock has been—In 1880, 8 0 ^ 1 1 3 % ;
in 1881, 105% ® 13 1% ; in 1882, 98 % ® 119 % ; in 1883, 7 0 ie® 1 0 4 % ; in
1
8
8 4 ,28®848e; in 1 8 85,41® 62% ; in l S S e ^ ^ a e S 1*; in 1887 to M a y 20.
U lster A D elaw are.—Owns from Rondont (Hudson River), N. Y .;
to Stamford, N . Y., 74 miles; branch to Hobart, leased, 4 miles ; total, 5378®63%.
Of the Union Pacifio collateral trust bonds, the first issue is lim ited to
4°
,es- This was the Rondout A Oswego in 1870, reorganized May 28,
1872, as New York Kingston & Syracuse, and again after foreclosure, 80 per cent of the follow ing bonds : Omaha & Republican Vailey R R .,
i> 1375, as Ulster & Delaware. The stock is $1,152,100. There $1,037,000 ; Colorado Central Railroad bonds, $2,105,000 ; Utah North­
ern Railroad, $2,387,000; total, $5,529,000. The collateral tru st
bonds of 1883 are secured b y the follow ing bonds : Colorado Central R R .
$1,397,000; Utah & Northern RR. $2,231,000; Omaha A Rep. V alley
RR. $684.000; Utah Southern RR. extension $93,000 ; D enver So. P ark
A Pac., $1.799,000; total, $6,201,000.
Ne.y|r
H uilroad A Canal Co.—Lines of Road.—
The outstanding bonds of Kansas Pacific above are given less the
iT or*t
Philadelphia and branches, 135 miles; Camden to Amboy amounts of each class held b y the trustees of the general m ort. The con­
*^d branches, 226 miles ¡T ren ton to Manunka Chunk and branches, sol. mortg. trustees are Jay Gould and Russell Sage, and they held in
®LKlle8 ’ total operated, 443 miles. Delaware A Raritan Canal, 66 miles. trust on Jan. 1, 1887, the follow ing bonds ot the Kansas Pacifio, m aking
This company was formed by a consolidation in 1867 o f the Delaware A
in all, viz.: Leavenworth Branch, $58^,000; incom e (unsub­
Kantan Canal Company, the Camden A Am boy Railroad, and the New $6,799,150
ordinated) bonds. $217,750; incom e (subordinated) bonds, $3.948.400;
£ ^ L 5 aFr? ad
Transportation Company. The United New Jersey Cheyenne Branoh Den. Pao. bonds, $2,051,000. They also held $1,997,RoVia“ a!i Som V^ le8 were teased in May, 1871. to the Penn- 500 of the stocks and $3,160,000 o f the bonds o f other companies
a Railroad for 999 years, at a rental o f 10 per cent on the controlled by the Union Pacific.
»
^
lde8 lntere8t on bonds. The smaller leased roads were taken
y n h tneir several contracts. The lease has not been direotly profitable
L a n d G r a n t .—The proceeds o f land sales on the Union Paolflo main
i t0i
Pennsylvania Railroad, and the net loss in 1879 line are applicable to the principal ot the land grant bonds, and after
w m $939,889; in 1880, $ i ,035,308; in 1881, $302,864; in 1832, $568 - tin t to the sinking fund mortgage 8 per oenf bonds. On the Kansas
i l M
5’ 9145 111 1884, $593,536; in 1885, $159,496; in 1836, Pacific the cash income from land is applied to the general m ortgage. On
the eonneotion with New York was indispensable. Oper­ Deo. 31. ’86, the company had in cash from the Un.'Pacido grant the sum
ations and earnings are included m the Pennsylvania RR. report. V
of $4.912,906, and in land contracts $9,095,341, whioh sums are appli­
cable first to the payment of the land grant bonds, and then to the pay­
line—coun<^a
1[S<? M ap .)— Lines of Road.— Main ment of the 8 per cent sinking fund bonds due in 1893 On Jan 1 ,1 8 8 7 ,
t o ^ c h e ^ ^ a n s i ^ o i ^ V ?»den a,Jd branches, 1,049 m iles; other the U. Pao. lands unsold were 3,175,507 acres, estimated at $2,395 ,507 ;
LeavenwoJn?+« t fd *7 to
^ 43; Denver to Cheyenne, 106; the K. P. lands unsold, 3,383,700 acres, estimated at $11,608,763.
The sales in 1 8 8 3 ,1 8 8 4 ,1 8 8 5 and 1886 were as follow s :
and operated in^hiTT?10-6’
^ a l owned, 1,832 m iles; controlled
Repub^Vallcv
P ?04« system January, 1887—Omaha &
Union Pacifie—
1884.
1885.
1886.
ado C
e n
t ? 8 9 “ Uea. ! Omaha N. & Black Hills RR., 115; Color743,704
146,189
466City KR-> 32; Utah A Northern RR., Acres sold...........................
A m ou n t............................. .
$1.223.227
$179,103
8olo m cm R R !^ 7*
3,1; Junctl°n C ity & Ft. Kearney. 88
$1 22
$1 65
?Afiev 27 ■ Vhhrtfn
8o 4thw’n. 35; Kan. Cen., 167; Den. A Boulder A verage price....................
6U •
“fe d e id r Salt
& Car;> • Oregon Short Line and branch.
Kan. Pacifio—
Acres sold.......................... ..........
690,294
22 5,62 3
452,566
A m ount...............................
$2,817.159 $1,049,122
Average price.................... ..........
$4 08
$4 68
$4 211a
Total—
Halim* Lincoln & Waste™ rvCVZnL. * i Jr V i ° “ -DiUO vaney, a s m ues: Acres sold..........................
1,433,999
1,571,812
A m ount......... ................... .
$4,040,387 $1.228,225
The Kansas Pacifio lands, from the 380th mile westward, are covered
o i W M t ^ b ^ h e m ^ o u r F p ^ f f i ^ n i 5 and lea8ed 111168 (388 miles) are
for twenty-five y e Z f ? o m i » ^ 0d H an agreement with Union Pacifio first b y the D enver Division m ortgage, and all the lands o f the Kan. P a o,
1 nve years from 1885, and not Inoluded in the mileage oper
b y the consol, m ortgage. ^




U N IO N PA C IFIC
R AILW AY
AN D

p/4

IT S

104

MAP OF THE

C O N N E C T IO N S .

•

INYESTOKS’

iJackson
L ake^ew

T rek a

jK
Susanville o
pUliea Bluff

!

Tehama O’
. 0 *
C^C A$P
S * * t o t * IIallsvalef
Monroe "V~.A
^prs.
^ 1 )\ 0°
j ^ P \ R eno
I
\ X a tA l *
V oTirginia A U S T IN <
'.(mi»
A WH
& bjésDayton
>

mm a 7
\

' Sa^Wtaa\

^

[V o l .




\

VQSACRAM ENTO ^Vofflia

SUPPLEMENT.

P

105

RAILROAD STOCKS AND BONDS

Ma y , 1887. J

S u b scrib e rs w i l l confer a great favor by givin g im m e d ia t e n o t ic e o f any e r r o r d is c o v e r e d In these Table«,
Bonds —Princi­
INTEREST OR DIVIDENDS.
pal, When Due.
Miles Date Size, or
Amount
When Where Payable, and by Stocks —Last
Rate
per
Par
of
of
Outstanding
Whom.
Dividend.
Cent. Payable
Road. Bonds. Vaine.

DESCRIPTION.
on first page o f tables.

Union P a cific—( C ontin ued)—

Kansas Pac., 1st more., gold, 140th to 393d m ile,
do
2d M.ito U.S.Oov.) on 394m.W. M o.R .
do 1st,394th to 639th m., l.g., 3,000,000 aos
do
1st mort., coup., (Leavenworth B r.)..
do
Income bds, coup., 3d M.on 427 miles
Utah C entral —Stock............................................ .........
1st mortgage, gold......................................................
Utah Southern, general mortg. (for $1,950,000)..
Utah South. Exton.. 1st M., Juab to F risco...........
Utah <t N evada —S to c k .... . . . . . . . . . . . . . . . . . . . . . . . . . .
Utah d N orthern. —1st m o rtg a g e .......... .................
Utica <f B lack H irer —Stock...........................................
Mortgage bonds...........................................................
Black River A Morristown, 1st m ortgage...............
Clayton & Theresa, 1st mortgage, guaranteed . . . .
Og<lensburg A Morristown, 1st m ortgage..............
Utica Chenango <£ S usquehanna V alley—S t o c k .....
Utica C linton <£ B in gh am ton —1st m ortgage............
V alley (N . Y .)—Stock....................................................
1st mortgage........................ .
.............. .
V alley ( Ohio) —1st mortgage, Clev. to Canton.........
Consol, mortgage gold (for $4,000,000)...............
V alley ( Fa.)—1st m ortgage..........................................
Verm ont & Massachusetts —Stock.................................
Bonds o f 1883 (guaranteed by Fitchburg R R .)...
V erm ont V alley o f 1871—S took ................................
1st m ortgage................. ............... ............ ...............

253
394
245
34
427
280
36*9
105
138
37
462
180
87
36
16
10
93
31
12
12
59
76
113
59
50
24

1866 $ 1,000
1865-7
1,000
1869
1,000
1866
50 Ao.
1866
100
1,000
1870
1,000
1879
1,000
1879
1878
1871
1874
1883

1881
1879
1881
1881
1833
1880

1,000
100
500 Ao.
1,000
100
500 Ao.
LOO, Ac.
1,000
1,000
100
50
1,000

Operations, Finances, A c.—The Union Pacific has made large earn­
ings and until 1883 and 1884 operated its road at a low percentage of
expenses. The competition and reduction o f rates by building o f new
lines was the main cause for the decline in earnings. The com pany has
extended rapidly and built and acquired much new mileage, o f whioh
the Utah Northern and Oregon Short Line are tw o o f the most im port­
ant branches.
For three months from Jan. 1,1887, gross earnings were $5,984,632,
against $4,890,003; net, $1,969,730, against $1,436,078.
The annual report for 1886 was in the Chronicle, Y. 44, p. 432, 438,
and the following figures were given for the whole sytem operated :
FISCAL RESULTS.
1884.
1885.
1886.
4,476
4,519
4,594
B u rn in g s fr o m —
$
$
9
6,070,897
6,096 237
5.809.018
.17,092,927 18,193,255 19.588,744
2,493,466
1,9-12,899
1,918,815

$4,063.000
6,303.000
6,258.000
13.000
109,200
4,225,000
1,000.000
1,950.000
1,950,000
555,860
5,5 43.000
2,223.000
1,107.000
500,000
200,000
143,000
4,000.000
790.000
750.000
400,000
1,600,000
1,703,000
750,000
3,193,000
1,000,000
1,000,000
800,000

6 g.
6
6 g.
7
7
1
6 g.
7
7
1*3
7
4^
7
7
7
5
3
6 A7
5
5
7
6
6
3
5
3
5

J. A D.
....
M. A N.
M. A N.
M. A 8.
Q.--J.
J. A J.
J. A J.
J. A J.
J.
M.
J.
J.
J.
J.
M.
J.

A
A
A
A
A
A
A
A

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

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

A
A
A
A
A
A
A
A

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

New York, 40 Wall St.
June 1. 1896
............ .
1895 t o ’ 97
N. Y., Lond. A Frankf’ t. Sept. 1, 1899
New York, 40 Wall St. Jan 1, 1896
N. Y .,B k. of Commeroe July 1. 1916
New York, 40 Wall St.
Oct., 1884.
do
do ,
Jan. 1. 1890
do
do
July 1, 1909
do
do
Julv 1. 1909
..........
In 1886
New York. 40 Wall St.
July 1, 1908
N. Y., R. W. A 0 . Co.
Feb., 1887
N. Y. Ceut. Trust Co.
Jan. 1, 1891
Jau. 1, 1894
do
do
do
do
July 1, 1898
do
do
Jan. 1, 1891
N. Y., D. L. A W. RR.
Nov. 1, 1886
N. Y., Cent. Nat. Bank.
1886 A 1890
During 1886
N. Y., D. L. A W .
do
do .
Aug. 1, 1911
New York, Cent. Tr. Co. June 1 5 ,190 6
do
do
Sept. 1,1921
Balt, aud New York.
Oct. 1, 1921
Boston, Office.
April 7, 1887
Bostou. Fitchburg RR. May 1, 1903
Bellows Falls.
Jau. 1, 1887
Bost., Safe Dep. A Tr.Co Oot. 1, 1910

—(V. 42, p. 61, 148,157, 187, 217, 305, 339. 330, 410. 4 2 9 . 432, 431,
498, 519, 537, 576, 604, 723. 78 3; V. 43, p. 50, 164, 192, 245, 275, 309,
353, 366, 548, 608, 672, 73 8; V. 44, p. 22, 23, 6 0 ,1 1 8 ,1 4 9 , 212, 344,
413, 4 3 2 , 435, 4 3 6 , 586, 621.)
U t a h C e n t r a l —(See m ap Un. P a cific )—From Ogden, Utah, to Frisoo,
280 miles. A consolidation July 1, 1881, of the Utah Central, Utah
Southern and Utah Southern Extension. In 1883, gross. $1,174,737;
net, $756,212. In 1884 gross earnings v e r r $1,038,938; net, $478,333. For 1885 gross earnings were $ 7 42,2 40; net, $2 87.8 53: fixed
charges, $340,924; deficit, $53,071. In 1866, gross, 771,800; net,
$ 3 1 2 ,9 6 5 ; charges, $355,996 ; deficit, $43,031.
U tah Sc N evada.—Owns from Salt Lake City, U. T., to Terminus
U. T., 37 miles. The Utah Western made default January 1 ,1 878 , ana
the road was held by trustees for the bondholders, aud was foreclosed
Nov. 3, 1880, aud this com pany organized. Gross earnings lu 1385.
$58,538; net, $30,011. Gross earnings lu 1386, $83,420; net, $40,750.

U tah Sc N orthern —( See m ap U nion P a c ific )—From Ogden, Utah,
to Garrison, aud the line o f Northern Paoific, with branches to Butte
City aud A naconda Mines ; total, 466 miles. This road form s a connec­
tion between the Northern Paoifio at Garrison, Montana, and the Union
.10,789,175
9,767,451
8,995,177 Paciflo at Ogden. Stock $5,543,000, and 6 per cent dividend paid In
1884, aud 1 per cent Jan , 1885. The road was built by Union Paoifio,
Per cent o f earnings to expenses...
57*95
62*32
63*19
whioh owns $4,816,400 stook and $4.963,000 bonds. For the year 1885,
gross earnings, $1,910,555; net, $238,935. In 1386. gross. $2,050,439;
it.
net, $4 59,4 18; interest, Ac., $3 88,0 10; surplus, $72,959.—(V. 43, P.
ACCOUNT.
125.)
1884.
1885.
1886.
Receipts—
Utica Sc B la c k R iv e r.—Utica, N. Y., to Ogdensbnrg, N. Y., 134
$
$
$
Net earnings..............
10,789.175
9,687,441
8,995,179 m iles; Carthage to Saokett’s Harbor (leased), 30 m ile s; Clayton to
.
406,416
1,382,811
890,020 Theresa, 16 m iles; total, 180 miles. A consolidation with leased lines
Miscellaneous land sales..................
7,455
10,335
13,015 was made In Match, 1886, embracing this mileage. The oom pany has
Investments, premiums, A c,............
66,474
670,341 paid moderate dividends for a number of years. In April, 1336, the road
Received from trustees K. P. con
was leased In perpetuity to the Rome Watertown A Ogdensbnrg RR.
mort. on account o f interest.........
249,416
207,110
1,113,600 Co. at a rental guaranteed to pay fixed charges and 7 per cent yearlyProfit and l o s s . . . . . . . ................. .
101,927 on the stock. Gross earnings in 1884-5 were $796,081; net, $316,640.
—(V. 42, p. 124, 397, 488, 728; V. 41, p. 276.)
11,518,936 11,287,697 11,784,082
E xp en d itures —
U tica Chenango Sc Susquehanna V alley.—Owns from Utica,
5,397,070
5,336,267
5,197,731 N. Y., to Greene, N. Y.,.75 miles; branch to Richfield Springs, 22 m iles;
366,077
356,138
67,224 total, 97 miles. Road opened October, 1872. Leased to Del. Lack. St
Western at 6 per cent on stock. Has no bonded debt.
Losses on invest., prem., A c............
93,945
591,540
593.605
591,965
Utica Clinton Sc B in g h a m to n . —Owns from Utica N.Y., to
1,213,036
1,191,010
1,298.399 Randallvllle, N. Y., 31 miles, and leases Rome A Clinton R ailroad, 13
Land taxes, Ac., Union D iv........
84,839
39,920
62,640 miles. Total, 44 miles. Opened June 22, 1872, and leased to New
Loss on Leav. Top. A S. R R ........
21,579
11,722 York A Oswego Midland Railroad. The lease was transferred to
............
the Delaware A Hudson Canal Co., and subsequently to N. f . Ontario A
Total expenditure................. .
7,652,562
7,632,461
7,229,681 Western, which pays the rental of $70,500 y r annum for U. Cl. A B.
3,866,374
3,655,23 3 4,554,401 and $25,500 for Rome <sc Clinton. The road was operated b y the Del.
1,187,110
1,184,053
808,033 Lack. A West, till April 1, 1883. Gross earninva in 1884-85, $ 2 18,8 02;
net, $24,176. Gross in 1885-6, $229,400; net, $105,660. Capital stook,
2,679,264
2,471,180
3,746,369 $636,285. Isaac Maynard, Pres., Utica, N. Y.
difference ($80,010) between these figures and the net earnings
Valley
>yi(N. ¥ .) R ailroad. Owns from Binghamton, N. Y ., to State
as given above is accounted for by deductions made this year to alio w line of Pennsylvania, 12 miles. Opened Ootober, 1871.
Leased to
proper comparisons.
Delaware Lackawanna A Western at 8 per
jer cent per annum on stook.
^ c o m p a r i s o n of the condensed balance sheet for three years is as which was reduced in 1882 to 5 per cent, the lessee assuming the Interest
on bonds. Samuel Sloan, President. New York City.
GENERAL BALANCE AT CLOSE OF EACH YEAR.
Valley (O hio),—Owns from Cleveland, O., to Valley Junction, O.,
75 miles, and 20 miles of small branches. Of the consul, mortgage
A ss e ts 18| 4 ’
18| 518| 6*
$1,600,000 Is held in trust to retire the first m ortgage when due. The
&c" i ........... 158,918,607 159,298,919161,283.688
consol, mortgage in a first lien on the Cleveland terminal property.
Stocks and bonds owned, co st.. 37,499,325
39,233,527 35,529 187 Capital, $1,257,397, par $50.
Earnings In 1886, $6 28,4 50;
Miscellaneous investments.......
620,640
680,891 ------------- —
net, $303,857. Earnings in 1845, $569,192; net, $261,446; surplus
Advances.......................
4 797'fl i «
3,415,280
over
payments,
$35,793.
(V.
43,
p.
572
; V. 44, p. 527.)
Materials, fuel, A c...........l|22o!612
1,683,432
Cash and cash resources. . . . .
Valley
(Va.)—
Owns from Harrisonburg to Salem, Va., 113 miles.
Denver Extension sink’g fundi
40 7,000
522,480
In 1833 it was extended from Staunton to Lexington, 36 miles. B y
Trust 5 per cent sinking fu n d ................’ ___
70,440
this and connecting lines under B. A O. control, the distance from Lex­
Bonds and stocks held in trust. 3,2151200
3,215,250
ington
is 243 miles to Baltimore and 217 miles to Washington. Tha
Land department assets............ 15,634.203
18,159,290
Baltimore A Ohio has a large Interest in Its securities. In 1885-86, gross
receipts,
$125,667; net, $37,303. In 1884-5 gross, $1 18,9 53; net,
Total............................
05
22,333,523 226,279,509 230,030,959 $34,665. (V. 43, p. 608.)
L ab ilities—
Total earnings......

.25,657,290
.14,868,115

Ä Ä b i:::::::::;::-.-.;;:;;;
A ccrueffmî®3 8ub8Wy bonds. . . 33,’539,’5 12
F lo a t o ld e b t ,û8ub8Îd^ bonds. 15,324,738
788,671
^ c o me *used foVsfn0^ a “ 5 lo8®)" t7,837,350

lS

S

ì

S . ^ ; : if ,® ? !!

Total liabilities.

25,925,172
16,157,721

60,868,500
81,957,682

33,539,512
15,167,214
11,861,445
110,493,284
-18,641,134
?W ö31

.............. 222,333,523 226,279,509

26.603,796
17,608,619

60,868,500
81,969,127
33,539,512
15,670,753
758,493
13,827,456
3,568,599

19,828,519
230,030,959

accm ed interest“ ! I L ^ b o n d s F eb/ l ^ S ® t o ^ t e ® 8 compared wifch
16*, i885nClUdinS 9 i6 ’ 7 0 4 3<iue to U. 8.’ under Thurman A ct, paid A pril




V erm ont Sc m assach u setts. —Line of road, Fitchburg to Green­
field, Mass., 56 miles: branch, 3 miles. The road is leased to the Fitch­
burg RR. for 999 years at 6 per cent. (V. 43, p. 636.)
V erm on t V alley o f 18 T 1.—Owns from Bellows Falls to Brattleboro, Vt., 24 miles, and b y purchase o f stook the Sullivan County
RR. from Bellows Falls to Windsor, V t., 26 miles ; total, 50 miles. Con­
trolled in the Interest of the Connecticut R iver RR. The Sullivan
County RR. stock is deposited as collateral security for the above
mort, bonds. Earnings, Ac., for three years ending March 31, were:
Passenger
Years. Miles. Mileage.
1883-84 50 4,555,171
4884-85 50
4,246,085
1885-86 50 4,559,950

Freight (ton)
Gross
Net D iv id d
Mileage.
Earnings. Earnings. Per ot
20,864,921
$398,614 $113,784
6
kO, 199,2 99
373,598
110,747
6
26,093,466
492 437
125,540
&

INVESTORS’

1 0 6

SUPPLEMENT,

[Y o u XLTV.

Subscriber* w ill confer a great favor by givin g Im m ediate notice o f any error discovered In tbese T a bles,
B ond s—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal. When Due.
A m ount
Par
of
of
F o r explanation o f column headings, Ac., see notes
Outstanding Rate per When Where Payable, and by Stocke —Last
Cent. payable
Whom.
Road. Bonds Value.
on first page of tables.
Dividend.

V ir g in ia A T ru ckee— l st M. (pay’ble $100,000 a year)

347
52

1881 $1,000
1,000
1881
1881 500 &c.
1,000
1835
1,000
1881
1886
....
100
1881
....
1881
___
1881
1881
....
1881
1881
1882
1,000
1,000
1836
1874
1,000

1st mort., gold (Chic. D lv .).......................................
1st mort.,’ gold, Detroit Division...............................
Wabash, l i t mort. (Toledo & Illinois)......................
do
1st mort. (Lake Erie Wab. & St. L .).......
do
1st mort. (Great Western o f 1859)..........
do
1st mort. (Quincy & T oledo)....................
do
1st mort. (111. A So. Iowa) extended.......
do
2d m ortgage (Toledo & W abash)..............
do
2d m ortgage (Wabash & W estern)..........
do
2d m ortgage (Great West, o f 1 8 5 9 ).......
do
Consol. fi.7 (o n all but Dec. & E St.L .)..

262
112
75
267
180
33
29
75
167
180
490

1880
1881
1853
1853
1863
1865
1862
1853
1858
1865
1807

140
140
140
189
189
189
354

‘V icksburg dt M erid ia n —1st m ortgage........................ .

2d m ortgage.................................................................
3d m ortgage income (not cum ulative)....................
T ieksb. Shrevep. A P ac. —Prior lien mort., g old ........
1st m ortgage, g o ld ......................................................
3d mort., and 1st mort. on land, g old .....................
Bonds,
do
do
do
do

1st series.........................................................
2d series....................................- ...................
8d series............... . . : ...................................
4 th series.........................................................
5 th series.........................................................

Incom e m ortgage bonds strictly cum ulative.......
General m oit.. iht. guar, b y R. & D., $12,500,000

1,000
1,000
1,000
1,000
1,000
1,000
500 Ac.
250 &c.
100 &o.
1,000
1,000

V ic k s b u r g & IW erldlan .—L ink of R oad .—Vicksburg to Meridian,
Miss., and branch, 143 miles. In Oct.. 1885, the gauge was changed to the
standard 4 feet 8 inches, and the transfer across the Mississippi at
Vicksburg was completed. It is m ainly owned and controlled by the
Ala n . O. Tex. A Pao. Juno. Co. The com pany was unable to earn full
Interest, and reorganization was made in 1881. In 1886 the second
m ort. interest w asto be 5 per cent, then 6 p e rce n t fo r thirty-five years.
Preferred stock, $1,940,612; com m on stock, $3,962,100. A receiver
w as appointed in 1»85 on a Judgment obtained against it. Annual re­
p ort fo r year ending March 3 1 ,1 8 8 7 in Chronicle o f M ay 28, ls 8 7 .
RECEIPTS AND EXPENDITURES FOR YEARS ENDING MARCH 31.

Miles road operated.................

.1883-4.
140

1884-5.
140

1885-6.
140

1886-7.
143

E a rn in g s—

P assen ger.................................. $190,215 $169,162 $164,818 $155,903
345,268
307,609
296,973
F re ig h t....................................... 300,026
13,105
13,089
9,307
11,927
M ail.............................................
10,303
7,467
5,342
6,445
E x p r e s s .....................................
7,191
10,320
11,095
8,991
M iscellaneous...........................
$503,304
426,498

$ 31,772
484,362

$51,663

$76,806

$47,409

F o rta x e s .................................... $16,800
F o r interest on b o n d s ............ 103,083
3,292
F or lnt. on current accounts.
7,049
F or expenses o f land dep’ t . ..

$17,550
104.000
7,633
4,477

$16,741
114,083
16,894
4,416

$18,295
125,033
14,232
4,298

Tot. paym ’ ts oharg’ ble to rev .$l30,225
N et deficit.................................. $10,402

$133,660
$81,997

T o ta l................................... $513,894
Operating e x p en ses................ 394,061
Net earnings........................... ..$119,823
C hargeable a ga in st rev en u e

$495,603
443,939

$1,000,000
1,100,000
1,920,000
1,823,000
4,000,000
2,500,000
4,940,363
600,000
1,900,000
1,100,000
950,000
1,775,000
1,309,000
3,935,583
1,2 97.0 )0
200,000
(?)
(?)
4,500,000
2,052,000
900,000
2,500,000
2,496,000
500,000
300,000
1,000,000
1,500,000
2,500,000
2,610,000

6
4 to 6
7
'6 g.
3-46-5£•

A. A 0 . N.Y. .Muller, Shall A Co.
M. A N.
de
do
do
do
....
M. A N.
New York.
J. A J.
do
1st coupon due Jan., 1888.

A p r ili, 1921
M ay 1, 1921
June 1, 1921
Nov. 1,1 915
Aug. 12, 1920
Jan. 1, 1916

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

M. A S. Balto.,M ech. Nat.Bank.
M. A 8.
do
M. & 8.
do
M. A S.
do
M. A 8.
do
M. & S.
J. A J. Last paid Julv, 1884
M. A N. N.Y., Central Trust Co.
Q.—F. San Fran., Bank o f Cal.

Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Jan.
M ay
Aug.

Q.—F.
J. A J.
J. A J.
F. A A.
F. A A.
F. A A .
M. A N.
F. A A.
M. A N.
M. A N.
M. A N.
Q.—F.

July 1, 1910
Ju ly 1, 1921
Aug. 1, 1890
Aug. 1, 1890
A üg., 1888
Nov. 1, 1890
Aug. 1, 1912
M ay 1, 1893
M ay 1, 1893
M ay 1, 1893
Feb., 1907

1^
5g.
6 g.
7
7
7
7
6
7
7
7
7

Last
Last
Last
Last
Last
Last
Last
Last
Last
Last
Last

paid
paid
paid
paid
paid
paid
paid
paid
paid
paid
paid

Tan.
Jan.
Aug.
Aug.
Aug.
Nov.
Aug.
Nov.
Nov.
Nov.
Nov.

1 ,1 8 8 5
1 ,1 8 8 4
1 ,1 8 8 4
1 ,1 8 9 4
1 ,1 8 8 4
1 ,1 8 8 4
1 ,1 * 8 4
1, 1884
1 ,1 8 8 4
1, 1834
1 ,1 8 8 4

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

1906
191Ì
1916
1921
1926
1031
1927
1936
1889

scries is a first lien between Manassas Junction and Harrisonburg, in­
cluding Front R oj al Branch and lease o f road from Strasburg to Harris
sonburg to the B. & O. R R., and a fifth lien between A lexandria and
Gordonsville, includ ng Warrenton B-anch and lease o f Charlottesville
it Rapidan RR., and a fourth lien between Charlottesville and Lynch­
burg; the sixth series is a first lien between Lynchburg and D anville,
Including Pittsville Branoh and lease of Pranklin & Pittsylvania RR.,
and a sixth lien on lease o f Charlottesville & Rapidan Railroad.
The incom e mortgage bonds were issued to retire 1st and 2d preferred
stock; the interest is striotly cumulative, and secured by the mortgage,
and in July, 1885, the coupon due July, 1884. was paid. These bonds
are exchangeable into the general mortgage bonds bearing 5 p. o. inter­
est, and guaranteed by the R ohin oni & Danville RR. Co.
O f the general m ortgage bonds o f 1836, $7,635,000 are held to retire
the serial bonds, $4,000,000 fo r the incomes, and $365,000 to be issued
fo r floating debt, im provem ent, etc.
The annual report for 1884-5 was in V. 42, p. 214. Earnings fo r the
years ending September 30 were:
Miles.

Operat’g ex p ’ses. Net receipts.
$945,116
$546,804
354
956.194
708,009
354
999,217
626.612
354
990.432
563.943
354
1,032,431
519,272
In 1882-83 $119,908 in addition to above expenses were spent for con­
struction. Ac.; in 1*83-4, $198,841; and in 1881-5, $81.835. New York
Office, 2 Wall St. (V. 42, p. * 1 4 , 488, 519; V. 43, p. 488 ; V. 44, p. 204.)
1881-82
1882-83
1883-84
1884-85
1885-86

...
... !
...
... .
...

Gross receipts.
$1,491,921
1,664,204
1,625.830
1,554,375
1,551,703

V ir g in ia & T r u c k e e . —Reno, Nev., to Virginia, Nev., 52 miles;
The b on is are payable $100,000 per year. Gross earnings in 1886
were $702,89 4; net, $353,544; dividends, $2 70.0 00; interest and
$151,135 $161,899 bond payments, $303,170. In 1885, gross, $599,149; net, $282,668;
paid, $47,50 0; dividends. $180,000; bonds redeemed, $100,$74,329 $114,489 interest
000 ; deficit, $44,832. D. O. Mills, President.

—(V. 42, p. 576, 6 2 9 ; V . 43, p. 6 3 6 ; V. 44, p. 586.)

W a b a s h S t. L o u i s & P a c i f i c . —The roads East o f the Missis­
sippi River (operated by Receiver Cooley, except the Detro’t Division)

V ic k s b u r g S h r e v e p o r t & P a c if ic .—See M ap C in cin n a ti N ew embrace the follow ing pieces covered by the sever al mortgages: Toledo

O rlean s <£ Texas P a cijic. Prom Delta, La., on Mississippi River, to
Shreveport, 169 miles, and extension to Texas State Line. 20 miles
(the latter lbased to Tex. A Pao.); total, 189 miles. The com pany was
chartered as Vicksburg Shreveport A Texas, and opened from Delta
to Monroe, La., in 1 8 61; the rest o f the line to Shreveport was not
opened till 1884. The old road was sold in foreclosure Dec. 1 ,1 879 ,
and reorganized under present title. The stock is $3,0o0,000, of which
the A la N. O. & Texas Paoitto Junction RR. Co. holds $1,594,000, and
controls this company, also holding $ 3 ,6 9 /, Of O of the 1st mortg. bonds
and $1,931,000 inoomes. In 1885 it was voted to issue the above pi ior
lien bonds lor im proving the road bi d, completing the transfer across
the Miss. River, &o. In 1886 the old incom e bonds o f $2,500,000 and
the stock were to be exchanged for 3d mortgage and land bonds. (See
V. 43, p. 104.) Gross receipts fo r 1885, $448,800, (V. 43, p. 104.)

A Illinois first mortgages—Toledo to Indiana Statejline, 75 miles; To edo &
Wabash, second mortgages -T oled o to Indiana Si ate line, 75 miles; Lake
Erie Wabash & St. Louis, first mortgages—Ohio State line to Illinois State
line, 166 mil< s ; Wabash & Western, second m ortgage, Ohio State line
to Illinois State Tne, 166 m iles; Great Western of lo 5 J, first and second
m ortgage—Indiana State line to M ered.sia and Naples, III., 180 miles;
Illinois A Southern Iowa, lstm oitg < g e—Clayton to Carthage, I I I , 29
m iles; Quiuoy A To edo, 1st m oitgage—Clayton to M ereaosia, 111, 33
m iles; Decatur <tfcEast St. L mis, first m ortgage —Decatnr to E. St.Louis,
103 m iles; Hannibal & Naples, 1st m o rtg a g e - Hannibal, Mo., to Naples,
111., 50 m ires; Wab. St. L. & Pacific (Cuicago Division), 1st m ortgage—
Scieator, III., to Effingham and Attain >nt and Strawn to Chioago, 268
m iles; Wab. Si . L. & Paoitto (Detroit D vision), 1st m ortgage—Detroit to
Butler. Iud., 114 miles. The total mileage operated b y Judge Cooley aa
receiver in Maroh, 1887, was 940 miles.

V i r g i n i a m i d l a n d . —Line of R o ad .—F rom Alexandria to Gor­
donsville, 88 m iles; Warrenton Branch, 9 m iles; Charlottesville to
Lynchburg, 60 miles; Lynchburg to Danville, 66 m iles; Pittsville
Branoh, 9 m iles; Manassas Junction to Harrisonburg, 114 miles (of
w hich 49 miles leased to Balt. A O h io); Front R oyal Branch, 1 m ile;
total owned, 347 miles. Leased. Orange C. H. to Charlottesville, 28
m iiw i; Pittsville to R ocky Mt., 30 miles; total leased, 58 miles. Total
ow ned and ieased, 405 miles, o f which 51 miles, Strasburg Junction to
Harrisonburg, is leased to the Balt. & Ohio, leaving 354 miles operated.
The Washington City Virginia Midland & Great Southern was a con­
solidation (November, 1872) o f the Orange Alexandria A Manassas and
Lynchburg A Danville railroads. The Orange Alexandria & Manassas
w as a consolidation (June 1 ,1 867 ) o f the Orange & Alexandria and the
Manassas Gap. The Washington City Virginia Midland & Great South­
ern was put into the hands o f a reoeiver July 1,1 876 , interest being in
default, and was sold In foreclosure May 13,188 0, and after litigation
sold again Deo. 20,188 0. Reorganized as Virginia Midland, ana bonds
en d stock Issued as above.
In April, 1886, a lease o f this road was made to the Richm ond & Dan­
ville on the basis o f a payment o f the fixed charges and the paym ent
b y the lessee of any balance o f net earnings to the Va. Midland Co. The
lessee may if it onooses advance the m oney for Interest on the six
aeries o f prior bonds if earnings are insufficient, .but guarantees posi
liv e ly the general mortgagee»’ interest.
O f the above bonds, the first series is a first lien between Alexandria
«ms Gordonsville, including lease o f Charlottesville & Rapidan Railroad
and the Warrenton B ranoh; the second series is a second lien between
Alexandria and Gordonsville, including Warrenton Branch and lease of
Charlottesville and Rapidan RR ., and a first lien between Charlottesville
and L ynchburg; the third series is a third lien between Alexandria and
Gordonsville, including Warrenton Branoh and lease o f Charlottesville
; Rapidan R R ., and a second lien between Charlottesville and Lynchnrg; the fourth series is a fourth lien between Alexandria and Gordonsvllle.incluaiiiK Warrenton Branch and lease o f Charlottesville A Rapidan
R K ., and a tnird lien between Charlottesville and Lynchburg; the filth

O r g a n iz a t io n . L e a s e s , &c.—The Wabash St. Louis A Pacific was
form ed Nov. 7 ,1 8 7 9 , by a consolidation of the Wabash and the St. Louis
Kansas City & Northern roads and their branches. The Wabash Com­
pany had beeu organized Jan. 1,1 877 , as successor o f the Toledo Wab.
& West., which com pany was form ed June 25 ,1 8 5 6 , by a consolidation
o f several oompauies, and defaulted on its interest in 1875 and was fore­
closed June 10, 1876. The St. Louis Kansas City A .Northern was
form ed in 1871 as successor of the North Missouri Railroad, w hich was
sold in foreclosure August 26,187 1.
In April, 1883, the Wab rati St. Louis & Pacific was leased fo r 99 years
to the St. Louis & Iron Mountain (and thus to the Missouri Paoitto), on
the general basis of paying over to the Wabash its net earnings each year.
In May, 1884, Messrs. Solon Humphreys and Thos. E. Tutt were
appointed receivers on the com pany’s ow n application in view of the
prospective default June 1 on the general m ortgage bonds. Receiveis’
certificates were issued for about $1,400,000 ana notes for $2,183,000,
to take up notes endorsed by .Messrs. Gould, Humphreys and others, but
these were finally taken up by leaving to the said endorsers the $2,700,000 o f collateral trust bonds held b y them as security.
The plan of reorganization was published in the Chronicle, V. 40,
p. 571, and, as afterward modified, In V. 41, p. 300, providing for the
issue o f $30,000,000 new debenture bonds, to be disposed o f as there
stated; also the follow ing points were em braced in the plan:
The w hole property to oe foreclosed under the general and collateral
trust mortgages, a n i upon receipt o f the new debenture bonds, the hold­
ers o f general mortgage and collateral trust bond certificates to pay
two per oent In cash on the face of the new bonds, fo r which they would
reoefve debenture bonds or scrip.
After the form ation o f the new com pany, the Purchasing Committee
w ill offer the new stock to the stockholders of the Wabash St. Louis A
Pacino Railway Company, at the rate o f eight dollars per share on pre­
ferred, and six dollars per share on com m on stock, who, for the amount
so paid, will be entitled to debenture bonds, or scrip, dollar lor dollar,
m addition to the shares In the new company.
^
The bondholders agree to take any stock and debenture bonds n ot

t




M a y , 1887.]

RAILROAD

STOCKS AND BONDS.

107

S u b s c r i b e r * w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.

(Bo nds —PrtnciINTEREST OR DIVIDENDS.
DESCRIPTION.
Size, or
Miles
pal,When Due.
Am ount
per When Where Payable, and by Stocks —Last
Par
of
of
For explanation o f column headings, Ac., see notes
Outstanding Rate
Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page o f tables.

Wabash St. L o u is é P acifie —( C ontin ued) —

do

109

' Fund, debt bds. A so, oerts. (seeremarks.)

Hannibal A Naples, is t m ortgage............................

2d mortgage, now 1st.................................................
1st oonsol. m ortgage..................................................

1st mortgage loan.......................................................
1st
do “ consolidated........................................
Consolidated mortgage........................................ ....
Ocean City RR. bon ds................. ..............................

42
49
18
18
18
12
186
38
63
128

1865
1874
1878

1,000
1,000
1,000

1855
1870
1875
1873
1866
1869
1879

100
50
100
• •••

50
500AO.
500 Ao.
500 Ao

accepted by stockholders, upon the same terms, pro rata, the amount,
however, not to exceed live per cent on the face o f their bonds.
The decree o f foreclosure was made In January, 1880, and the road
■old April ‘26, 1886, to the purchasing committee, who were the only
b dders, the price for all the properties sold being $625,000. (Bee
V. 42, p. 537.) But there was some delay in the confirmation of
■ale, the floating liabilities including receivers’ debt, A c., being
about $4,000,000, and there yet remained a large amount of over­
due interest on the prior mortgage liens. The Comiulttee o f Reorganiza­
tion in June, 1886, propos- d to the holders o f all mortgages on the road
east o f the Miss. River that their future interest should be reduced to 5
per rent and overdue interest funded to 18fc6, (see proposal in V. 42,
p. 695). Some bondholders made opposition to this, and after litigation
the receivers Tint and Humphreys were removed by an order of Judge
Qresham, and Judge Thos. M. Cooley was appointed receiver of most of
the lines east o f the Miss. River covered bv the sectional mortgages. The
order made by Judges Brewer and Treat for the surrender of these lines
was in Vi'l. 44, p. 10. The purchasing oommittee afterward took pos­
session of the lines yet remaining in the Wabash system west o f the
Mississippi River and organized the Wabash & Western. Suits to fore­
close the 11. A So. Iowa more, and the Great Western o f 1859, a iso the
co n so l morf. o f 1867, were begun in Jan., 1887.
The situation o f Wabash in March, 1887, was substantially this: The
Purchasing Committee had bought the whole property at foreclosure
under the general and collateral trust morrgages, which were thereby
extinguished, as also the stock. TheJCommittee then held the property in
trust for the lorratr holders o f general and collateral trust bonds and
for the stockholders who had come into the plan and paid their assess­
ments. In the meantime suits had been started to foreclose the prior
mortgages on some of the lines east o f the Mississippi River, and most
o f those lines were placed in the hands o f a new receiver, Judge Cooley.
The Purchasing Committee organized the new Wabash Western to
Include the lines yet in possession o f the receivers west of the Missis­
sippi Riv* r, and an o expected to take or to operate by consent the De­
troit Division, But er, Ind., to Detroit, and trie Eel River leased line.
Or the Detroit Division some o f the bondholders in April, 1887, con­
sented to fund back coupons and take new bonds at 5 per cent for their
old bonds.
AUXILIARY AND LEASED LINES.
Many of the branch and leased lines form erly operated by the Wabash
St. Louis A Pacific have been foreclosed, and the follow ing will give an
account o f them :
The Cuiro Division is now the Cairo Vincennes A Chicago; Toledo
Peoria & Western was sold Oet. 29 ,188 6, and w ill be found under its
own name: the Mo la . A Nebraska was sold Aug. 1 9 ,188 6, and is now
the Keokuk & Western; the St. L. K. C. A Northern, Omaha
Division, was sold Dec. 2 8 ,188 6, and is in process o f reorganization;
the Clarinda Branch sale was adjourned to March, 1887. The O. Divi­
sion committee issued a circular in March, 1887 (V. 44, p. 370). The
new bonded debt w ’ll be 952,300,000 lsts, and 4 coupons will be funded
and 1 coupon held for betterments, a total o f $2,702,500 4 per cent 50year gold bonds. Preferred stock will be issued to the amount of $ 2,208 ,• 00. The reduced interest from 7 to 4 per cent will be represented
by this pref. rred and by common stock to the amount o f $2,300,000.
Holders o f trust certificates for ihe old bonds deposited will get for each
$1,000 $1,140 in 4 per cent bonds, $960 preferred stock, and $1,00'>
common stock to be ii Id in trust. The annual charge will be $108,500,
against $164,500 bef. re. Net earnings f v year ending March 6 , 18s7.
estimated at $123,000. Tue Quincy Mo. A Pacific was sold in May,
1886, and is to be reorganized with stock only under a title yet to
be chosen. The Champaign Hav. & West, and the Rantoul (narrowguage) road were sold in Sept, and Oct., 1888, and were afterward
absorbed by the Illinois Ceutral. The Chic. Cin. & Louisville was sold
AjJV .13, 18->6, and is operated by the trustee o f the mortgages.
The Cent revide Moravia A Albia, Relay to Allda, 24 mites, was sur­
rendered by the Waba h, and has been operated by Thomas Thatcher,
receiver o f the Missouri Iowa & Nebraska; a decree has been obtained,
and the mad may be foreclosed.

Stocks and Bonds.—The old pref. stock had a prior right to 7
cent (uon-oumulative); then common to 7.

d<

i
o i 8toel£ since 1879 have b een : Common in 1830, 261e@4£
i* ,.1®»1- 33140-6° ; in 1382. 2358@ 39V8 ; in 1883, 1533014; in 188is s v
ln 1886 (pur. com. receipts), 1232458; i
a*r 2
Preferred in 1880, 5 1 *438838; in 188:
i ? ,- 1882» 1578®7158; in 1883, 29183571«; in 1884. 9332
May 20 2 3 ^ > 1886 (pur‘ ° ° m* receipt«) 23% 34178; m I8e7 , t
0 k 8 b Cliarles Bridge is for $1,000,000, and is 6 pc
cent now, running absolutely till 1908.
*
°* ruQded debt bonds o f 1877, due 1907 as above give
wMeh
n S certificate for coupons funded and deposited in trua
“ fiefinted January 1,1883, to $1,014,453, and ai
w itb ^ e ^ rb fe in io
exchanged the certificates fail du
e principal of the bonds from winch coupons were cut.
These bon di^ w ¡£U8t bOD^« o f 1883 were issued for floating deb
« S i X 8
®
by lhe 8t- Louis Iron Mountain ,
aQ?, ,m J -884 a mortgage was recorded on all tb
M cn m i
i?,r $ 1(M>°0.oOp to the St. Louis Iron Mt. A 8outhem a
were J i t ”
These and the general mortgage bona
were to luxe now debentures aauer tue pi an o f reorganization.




$2,700,000
3.009,850
2 ,000,000
500,000

F.
7
6 A 7 F.
7 g. A.
J.
7

A
A
A
A

A.
A.
O.
D.

<h

6,000,000
7
3,000,000
7
1,388,500 6 A 7 g.
626,000
6
31«
750,000
1,800,000
31«
750,000
7
600,000
7
540,000
6
1,485,650
3
1,000,000
6
1,000,000
7
6
748,500
6
100,000

Last paid Aug. 1,1 8 8 4 A ug.. 1889
Last paid Aug. 1,1 8 8 4 Feb. 1, 1907
Last paid Oct. 1.1884 April 1, 1909
Last paid Deo. 1 ,1 8 8 4 June 1, 1909

J. A J. N. Y ., Bk. o f Commeroe. July 1, 1895
M. A S.
do
do
Sept. 1, 1895
A. A O.
1903-1908
J. À
A. A
A. A
M. A
J. A
M. A
J. A
A. A
M. A
F. A

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

O

W arren ttf.J .)—Stook.....................................................

$ 1,000
500 Ao
1,000
1,000

O
'd

do
real estate A railway 2d m ort—
do 1st A 2d M.on St* Char. B ridge,coup.or rg

50
354
354

1869
1877
1879
1879

Boston, Boat. A Alb. R R Jan.. 1887
N.Y., Del., L. A W. RR. April, 1887
do
do
A pril 1, 1900
do
do
March 1, 1905
Baltimore,Balt. A O.RR.
1903
PJhila., Pa.RR.Co. Otfioe M’oh 1 5 ,1 8 8 7
do
do
Jan., 1896
do
do
Oot., 1899
do
do
Nov., 1909
do
do
Aug., 1925

Operations, Finances, A c.—
1
T he Wabash St. Loafs A Pacific extended
its lines very widely in the years 1879 to 1882 (under the presidency of
Mr. Solon Humphreys), b y the acquisition or branch ana connecting
roads, and thereby assumed heavy liabilities. Although the earnings
increased largely, the annual liabilities were still far ln excess
of the net profits. The road was operated in olose connection with the
Gould Southwestern system running into St. Louis, and the formal lease
to the St. Louis A Iron Mountain Company placed the Wabash ln com ­
plete control o f the Missouri Paoiflo prior to the appointment o f receivers
for the Wabash.
Earnings, expenses, Ao., for four years were as below, the mileage
being in 1882, 3,518 miles; in 1883, 3,560; in 1884, 3,582; and in 1885,

Net earnin gs............
Other r e c e ip ts ...___

INCOME ACCOUNT.
1882.
1883.
$
$
4,611,431
3,584,195
328,760
452,566

1884.
$
2,610,329
240,339

1885.
*
1,899 933
68,553

Total in c o m e ....
D ed u ct —
Rentals paid..............
Interest on debt.......

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

2,850,608
$
828,244
2,727,348

1,968,491

R eceipt»—

4,036,761
$
1,144,453
4,399,710

598,100
902,779

5,289,014
5,544,169 3,555,592
1,500,879
T otal....................
Deficit, after Interest
and rentals............
349,423 1,507,408
704,924 sur. 467,612
—(V. 42, p. 23, 52, 94, 1 2 0 ,1 8 8 , 217, 234, 305, 332, 339, 397, 463.
479, 488, 537, 597, 664, 695, 729. 754, 75 5; V. 43, p. 21, 49; 50. 73
104, 164, 192, 217, 218, 238, 309, 369, 400, 460, 488, 515, 518, 548!
580, 008, 636, 072, 719, 738, 766 ; V. 44, p. 10, 60, 119, 173, 185. 2 ia !
2 3 5 ,3 6 9 ,3 4 4 ,4 0 1 ,4 3 5 ,6 2 1 ,0 5 4 .)
’
’
’

W a b a sh W e s te r n .- The road owned includes those parts of
the form er Wabash St. Louis A Pacific west o f the Mississippi River chat
remained in the system when the purchasing oommittee took possession
in March, 1887; also certain lines east of the Mississippi that Judge
Cooley did not take. The total mileage operated la May, 1887, was re­
ported b y the Wabash Western as 995 miles, made up as follows: St.
Louis to Kansas City, 276 m iles; Levee to Ferguson, 10 m.; Centralist
to Columbia, 22 m.; Glasgow to Salisbury, 15 m.; M oberly to Coatesviile,
88 m.; Coatesville to Ottumwa, 43 m.; Brunswick to Chilllcothe, 38 m .’
Pattonsburg to Chilllcothe, 42 m.; total, 534 miles. The track o f the
Chicago & Rock Island road from Ottumwa to Gibbon, 37 miles, is also
used. Tne follow ing roads are operated in addition; Des Moines & St.
Louis (Des Moines to Albia), 07 miles; Des Moines & Northwestern (Des
Moines to Foula), 115 m.; Detroit Division, 113 m ; Eel River, 93 m.;
Champa'gn & Sidney, 11 m.; A ttica & Covington, 14 m.; total, 415 m.
Whole mileage operated, about 990 miles. (V. 44, p. 3 4 4 ,3 7 0 , 400.)
W a r e R iv e r.—Palmer, Mass., to Winchendon, Mass., 49 miles. I t
is leased for 999 years to the Boston & Albany Railroad at a rental of 7
per cent per annum. J. A. Rumrlll, President, Springfield, Mass.
W a r re n , N. JT.—Line o f road, New Hampton Junction to Delaware
Bridge, N .J ., 18*4 miles. The road is leased to Delaware Lackawanna
& Western at 7 per cent on stock and bonds. Gross earnings, 1884
$490,744; net, $225,972. John I. Blair, President, Blairstown.N. J.
W a sh in g to n City & P o in t L o o k o u t.—Hyattsvllle, Md., t »
Shepherd, Md., 13 miles, and to be extended. This road was opened la
1873. It is leased to the Baltimore A Ohio for $36,000 gold per
annum. The stock paid in is $1,000,000. S. T. Suit, Pres’t.
-v e s t j e r s e y . —Main line and branches—Camden to Cape M ay,
Bridgeton, Riddleton, Sea Isle, Ocean City, &c., 159 miles; West Jersey
& Atlantic Railroad., 39 m iles; total, 198 miles operated.
Gross earnings from Jan. 1 to Mar. 31 ,1 8 8 7 , were $255,085, against
$223,500 in I 8 0 6 ; net, $01,532, against $72,538.
Tne annual report for 1880 was published in the Chronicle , V . 44
p. 494.
Incom e account for four years (including 1886) was as follow s:
INCOME ACCOUNT.
1883.
1884.
1885.
1886.
R eceipts—
$
$
$
$
Total gross earnings.......... 1,227,654 1,319,648 1,286,012 1,352,458
Net earnings......................... 441,896
503,305
470,627
503,274
Other receipts........................................
11,966
14,008
21,350
Total Incom e...................
D isbu rsem en ts —
Rentals paid..........................
Interest on West Jer. debt..
Net earu.of W .J.A A .R R .,A o
Dividends..............................
Rate of dividend...................

441,896
$
36,571
178,888
73,075
85,232
6 p. c.

515,271
$
41,270
175,174
90,668
87,788
6 p. 0.

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

524,624
$
41,745
180,174
90,081
89,140
6 p. e.

Total d isbursem ents.... 373,766
394,900
Balance, surplus...... ...........
68,130
120,371
- ( V . 4 2 , p. 23,188, 5 4 8 ; V. 44, p. 4 9 4 .)

385,375
105,250

401,140
123,484

INVESTORS’

1 0 8

SUPPLEMENT}

VOL. XLIT

Subscribers w ill confer a great favor by giving Im m ediate notice o f any error discovered In these Tables.
I
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
per When Where Payable, and by
Par
of
of
F or explanation of column headings, &c., see notes
Oatstanding Rate
Whom.
Cent. Payable
Road. Bonds Value.
on first page o f tables.
D E S C R IPT IO N .

West J ersey <£- A tla n tic— 1st m ortgage........................

Pleasantville & Ocean C ity......................................
West Shore— 1st M., guar, by N.Y.C.& Hud., cp., rg.
West V irg in ia C entra l <t Pittsburg— 1st mort., gold.
W estern (Ate.)—Western HR. bonds, before consol..
2d m ort., icuar. by Cent, o f Ga. and Ga. RR. & B. Co.
W estern & A tla n tic (Qa)— Incom e bonds ....................
Bonds to State o f Georgia (not m ortgage). . .........
W estern M a ryla n d — 3d Ml., endorsed by Baltimore.
4th
do
endorsed by Baltim ore.....................
BaSfumro1& 0Harrisburg RR., M (for $690,000)..
W estern N orth C a rolin a —1st mortgage, cou p ..........

Consol mortgage, coup, for $3.425,000...................
2d consol, m ort., coup. ($15,000 p. m .)...................
W estern P en n sylv a n ia —1st m ortgage.........................
1st m ortgage, Pittsburg B ranch..............................
Registered bon ds................ — --- - - - - - - ...............
WkUe W ater-Stock ($325,000 o f it r e e f0W h eeling <6 L a k e E r i e . - 1st M., gold ($3,000,000)..
W ilm ington C olum bia & A u g u sta —S t o c k .................
1st m ortgage— - ........ ---- - .....................................
W ilm ington <£ N orth ern—Stock...................................
j f tim in g ton <6 W eldon—Stock......................................
Sinking fund bonds, g o ld ...........................................
Gen. m ortgage for $4,000,000............................

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

$400,000
$1,000
80,000
100 &c.
50,000,000
1885 l.OOO&c
1,100,000
1,000
1881
340,000
1868
1,171,000
1,000
1870
311,000
1,000
1873
3,355,000
1886
875,000
1870 500 &c.
1,000,000
1872
875,000
275,000
850,000
2,575,000
1,000
1881
4,110,000
18rt4
1,000
800,000
1863 50Ó &c.
1,000,000
1865 100 &e.
2,500.000
1,000
1883
1,300.000
2,788,000
1,000
1886
960,000
1,600.000
1880
1,278,050
2,082,400
100
936,000
1,336)000
1885

1880

6
6
4
6
8
8
10
4^
6
6
6
5
7
6
6
6
6
5

Dividend.

Sept. 1, 1910
July 1, 1910
Jan. 1, 2361
lu ly 1, 1911
Oct. 1. 1888
Oct. 1, 1890
Oct. ’87 to ’90
1916
J. & J. Balt.,N. Mechanics’ B ’k Jan., 1900
Jan., 1902
J. & J.
Jan., 1902
J. & J.

M. & S. Phila., Fidelity I. T. Co.
J. & J. Phila., Penn. RR. Office.
New York.
J. & J.
New York, Office.
J. & J.
A. & 0 . N .Y ., H B. Hollins&Co.
do
do
4. & O.
Atlanta, Co.’ s Office.
Q -J .

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

Raleigh, N. C.
& N.
New York Agency.
& J.
& O.
& 0 . Philadelphia, Penn. RR.
do
do
& J.
do
do
& D.

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

....

Stocks —Last

....

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

May Ì , 1890
Jan. 1, 1911
Oct., 1914
April 1, 1893
Jan. 1, 1896
June 1, 1923
Oct. "Ï,"Ï926
Jan. 10,1886
June, 1910

Jan. Ì5, Ì887
J. & D.
4
1896
7 g • J. & J. N. Y. ,Bost. ,Lond. .Frank
1935
N. Y. & London.
J. & J.
5

765. Stock. $4,000,000 oom. and $4,000,000 pref. The second cons,
nrM t Jersey & A tla n tic.—Newfleld, N. J., to Atlantic City, N. J. $1
m ortgage for $4,110,000 is held by the R. & D. Ter. R. & W. Co. and
84 miles • Pleasantville & Ocean City RR ., 7 m iles; total, 41 miles also $1,325,000 o f the 1st consols, given above. $850,000 of same bonds
Opened June 17, 1880, and operated by West Jersey Railroad on a
S C traffic agreement and 25 per cent o f gross receipts on West are reserved to retire the lsts.
Jersey from traffic o f this road to be applied to any deficit in interest
W estern P en n sylvan ia.—The road runs from B olivar to Allsnnri then as sinking fund for bonds purchasable at 105, o r d rawn if ghanv City, Pa., 63tg m iles; branch to Butler, Pa., 21 m iles; total, 84>s
oyer that. In 1884 ¿ e t earnings were $83,286. Stock is $744,500 miles. Completed in 1865 and branch in 1870. A new lease to the
Two per cent dividend paid in July, 1884, three Jan.
Pennsylvania Railroad for 30 years was made in 1883, and an issue of
September. 1885, tw o March 15, 1886, three December, 0.886, and 2 ^ $5,000,000 consolidated bonds was authorized. The Pennsvlvania Rail­
road lessee, owns $993,050 stock out of the total amount of $1,022,450
March, 1887.
and $288,000 of branch bonds. Gross earnings in 1885, $ l ,159,514;
W e s t S h o r e .—Line o f road from Weehawken, N. J., opposite N. Y. net,
$477.981. Gross in 1886, $1,347.565; net, $607,542. In Deo.,
Citv. to Buffalo, N Y ., with branches to Albany City and Rochester City,
about 418 milos in all. This oompany was organized in December, 1885. 1886, paid 3 p. o. div.
(^successor to the N. Y . West Shore & Buffalo, sold in foreclosure,
W h ite W a te r .—Valley Junction, O., to Cambridge City, Ind., 65
""im m ediately ou its organization the new West Shore Company issued miles. This was form erly the W hiteW ater Valley, sold in foreclosure
¡Bio ooo.OuO of capital stock, and made an authorized issue of $50,000,- May 2,1 878 , and reorganized under this title. Gross earnings in 1882600 of 4 per cent bonds. A lease o f the West Shore property to the New 83, $104,234; deficit, $5,979. Elijah Smith, President.
York Central com pany for 475 years was executed in compliance with
W h e e lin g & Lake E rie.— Toledo, 0 .,t o Bowerston. O., 174 miles,
the plan of reorganization. The $10,000,000 o f stock was handed over
to the New York Central Company in consideration o f that company s and branch to Hurou. O., 12 miles. Foreclosure begun in July, 1884,
and
M. D. W oodford appointed receiver. The road was sold April 23,
guarantee o f the principal and interest of the $5u,000,000 of new bonds.
1886,
and puiuuasou
purohased bvyy trustees
reorganization committee
for
lo
c o , anu
wuitoco
«ofj. the
T i' in oi
The mortgage is made to the Union Trust Co., as trustee, and covers _
_
—_ ~~
t
4
_e
rr>~r \
/vmnnnTr Amron 1 vnn in 111 V 1
$505,000.
(See.v
V.
42,
p. 537.)
New Acom
pany organized in July, 1886,
the line of road. Weehawken to Buffalo w ith branches, 448 miles in all,
and also the terminals at weehawken by ownership of all the stm k and with stock of $3,600,000. of v n ich $3,513,400 issued to March 1,1887,
bonds of ttie Terminal Company. The guarantee o f the N. Y. Cent. & Mr. Sidney Dillon bought a large interest in 1887. Gross earmngs in
Hudson is absolute as to interest and principal and is endorsed on each 1886, $588,099; net, $ 1 2 9 ,1 13. Geo. J -F o r r e s t , President, 2 Wall St.,
bond. A review at m uch length o f the status of the new West Shore N. Y. (V. 42, p. 94, 157, 488, 537, 775; V. 43, p. 50 ; V. 44, p. 118,149.)
bonds was in the Chronicle , V. 42, p. 1 7 6 ; (V. 42, p. 23, 156,176, 305,
W ilm in g to n C olum bia & A u g u sta .—Owns from Wllinington,
519, 755.)
N C., to Columbia, S. C., 189 miles. Leased join tly , the Central RR,
W est V a . Central & P ittsbu rg—A coal and railroad company in of South Carolina, Lane, S. C., to Sumter, 8. C., 38 miles. Total operW est Virginia in the upper Potomac region—the Elk Garden Coal Field.
November, 1884, in operation from Piedmont, W. Va., to Davis, W. V a., "^Road was sold in foreclosure, October, 1879, for $860,500, and com­
, .
58 miles; Branch, Stiaw. W. Va., to Mineville, 2 m iles; total, 60 miles. pany reorganized under present style.
In J u n e ;i8 8 5 . the road and property o f this oompany were leased for
Owns 32 244 acres o f coal and iron lands covered by the first moitgage,
99
years
to
the
Wilmington
&
Weldon,
the
lessee
to
pay
all
interest
ana
and has mineral rights on 5,407 acres more. In 1886, net from coal,
8534 0 3 1 ; from railroad, $52,329; miscellaneous, $864; total, $87,244, fixed charges and 6 per oent dividend on the stock, payable semi-annu­
ally
in
January
and
July.
In
1884-85
net
receipt«
were
$242,o34
;
the
interest Si 6 0 0 0 ; surplus, $21,244. In 1885, net profits on coat sales,
$48 872*; net from railroad, $34,053; total
; interest surplus income over interest and dividends was $8 3,93 4; in 1883-84
naid $66 0 0 0 ; surplus, $16,925. Stock, $5,500,000. H. G. Davis, Presi­ similar surplus, $58,720.
d e n t; 8 . ' b . Elkins, Vice-President; James G. Blaine, W. H. Bam um ,
W ilm in g to n & N orthern.—Owns from W ilm ington Del.,, to
and others, directors.
Birdsboro, Pa., 64 m iles; branches, 24 miles; total owned 87 nines,
W estern A l a b a m a . — L i n e o p R o a d —Selma to Opelika, Ala., 116 trackage leased, 5 m iles: total operated, 92 miles. TM s company
miles- branches, Opelika to West Point, 22 m iles; total, 138 miles, of was organized Jan. 18 ,1 8 7 7 , as successor to the Wilmington & Readrng
which 50 miles is leased to Louisville & Nashville for $52,000 per RR. Co., which defaulted on its interest and was sold in foreclosure Deo.
Minimi. Was a consolidation in 1870 o f Montgomery & West Point and 4, 1876. Has bonds amounting to $228,700 in several small issues.
Western of Alabama. Sold May 10,187 5, in foreclosure and purchased Gross earnings in 1884, $346,056; net earnings, $64,4o2. Paid interest,
jointly b y the Georgia Railroad and Central Railroad of Georgia. The $11,456; bonds redeemed, $5,300.
old Rtortk and income bonds w©r© wip©d out in tb© foreclosure. and tn©
W ilm in g to n & W e ld o n .—R oad extends from Wilmington to
property is represented by the bon deddebt and $846,000 due each of the
N. C., 1 6 3 m iles; branch to Tarboro, 17 m iles; Sootland Neci
above companies. There are also $32,000 second mortgage 8s of Mont- Weldon,
Branch, 20 miles; also operates Midland N. C. R R ., Goldsboro to Smitniromery & West Point RR. due May 1, 1888. The gross earnings in fleld, 22 miles; total, 222 miles; also under construction bran ch from
1883-84 were $457,597; net, $241,671.
Wilson to Fayetteville, 70 miles. Was leased November, 1872, to Wil­
W e s t e r n Ac A t la n t ic # —Atlanta, Ga., to Chattanooga, Tenn., 138 mington Columbia & Augusta Railroad for 99 years. The lessees maae
miles. Built by State o f Georgia and opened in 1850, and b y an act of default December, 1877, and the lease was surrendered April 13, l » « October 24,1870, was leased to a company for twenty years at a monthly In June, 1885, this oom pany took a lease for 99 years o f the Wilming
ton Columbia & Augusta. (See that oompany above.
rental o f $25.000
The flsoal year ends Sept. 30. The report for 1884-85 was in V. 4i
W e s t e r n M a r y la n d # —L i n k o f R o a d —Baltimore to Williamsport,
M d., 90 m iles; Emuiitsburg Branch, 7 m iles; Edgemont to Shippens- P Warnings and income account for three years is as follow s:
b u r i Pa.. 34 m iles; total, 131 miles. The capital stock is $683,750.
EARNINGS AND EXPENSES.
Tne ’com pany was largely assisted by the city of Baltimore, and
1884-5.
1883-4.
1882-3.
E a rn in g s f r o m —
was u n a b le t o pav all its interest. In 1886 the com pany proposed
$289,852
$271,461
that Baltimore city should pay off the $1,800,000 bonds em braced in the Passengers...........................
425.979
412,993
.
426,133
first and second mortgages and take a mortgage on the railroad prop­ Freight..................................
109,126
103,500
erty as securitv; this was accepted by v ote o f the city, and on Jan, Mail, express, e t c ............... ,. 108,055
1 .1 8 8 7 , a I t m said bonds were retired.
$824,957
$788,014
The Baltimore & Harrisburg RR. was form ed b y consolidation in
Total earnings............. . $797,429
451,81®
493,383
1886 and leased to the Western Maryland, whioh also owns a large Operating exp. and ta x e s.. . 601,549
a m ou n tof the stock ; of the issue o f $690.000 bonds, $415.000 are 1 eld
$373,111
$294,631
Net earnings................. .. $195,380
in trust to pay off prior mortgages The Western Maryland operations
INCOME ACCOUNT.
fo r four years nave been as follows:
1884-5R eceip ts—
1882-3.
1883^4.
Gross
Net
Freight
Passenger
$373, UJ
$ 2 9 4 .| [l
Mileage. Earnings. Earnings. N Ä i n g s ..........................$195 380
Mileage.
Miles.
29,937
26,073
j j ,D4Z
16,201,680 12,876,711 $654,163 $254,175 Other reoeipts..............
1882- 8 3 .............. 131
258,245
665,995
16,512,178 13,114,936
$403,078
1883- 8 4 ............. 131
232,135
6L9.217
T ota l.......... ....................... $216,053
$313,573
14,602,158 11,670.486
18 8485..... 131
239,137
617,561
D isbursem ents—
79,365
15,946,659 10,878,194
1885- 86 ............131
Interest
. . . . . . . . . . . . . . . . $80,641
$80,698
i ß « 592
—(V. 43, p. 369, 432, 636, 6 7 0 , 738.)
Dividends*.................<6p.O.) 124,914 (8 p.O.) 166,592 <8p.c.) 1 6 6 ^
$245,957
W estern North C a r o l i n a .—Owns from Salisbury, N.
$247,290
T otal................................. $205,585
$157,121
B ock, Tennessee State line, 190 m iles; Asheville to Nantahala R iver, 84
$71,283
miles •total, 2 4 miles. The road was financially embarrassed, and was Balance, surplus................... $10,468
purchased April 17, 1875, by commissioners for the State o f North - ( V . 43. p. 636.)
,
Carolina, and subsequently finished by the Richmond & Danville Ter­
W isco n sin Central.—Owned on Deo. 31 ,1 8 8 4 , the m a ln ^ “ ® lgg
minal Railway & W a house Company, and is operated as a part of the
Stevens Point to Menasha, 65 m iles; do. t0o^ ® „ ^ 8 ’ total
Richm ond
Danville s stem. I n M ay, 1886, it was leased to the R. branches
iles; do. to Portage City, 72 m iles; branches ^ d sp u rs, 25 m i^
& D . Company, in 1883-84 gross earnings, $435,069; net. *141,»83. m
owned, 349 miles. Leased: from Neenah to Sohleisingerville, 04
In 1884-85. grass, $468,507; net, $324,351; deficit under charges,




CANAL STOCKS AND BONDS.

M a y , 1887. J

100

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

B on u s —jfrinoiINTEREST OR DIVIDENDS.
pal, When Due.
When Where Payable, and by Stocks —Last
Payable
Whom.
Dividend.

Date Size or
Amount
of
of
Par
Road. Bonds Value. Outstanding!

on first page o f tables.
W isconsin Central —Consol, mort., land grant, pref

1st series.................... ..................................
2d series, income (not cum ulative)........................
Mort. Minn. St. Croix A Wis. R R ............................ .
W isconsin <£ M innesota — 1st mortgage ......................
Incom e .......... ............... .............. .
Chic Wis. A Minn.—1st mort., g o ld ...............
Worcester <f N ashua A R ochester —S to c k ..................
Bonds, mort.......... .............................. ,........ ......... .
Bonds, mortgage .............................. .........................
Bonds, m ortgage............ .................................
Nashua A Rook., 1st mortgage................. ............ .
W. N. A K.—M o r t g a g e ........................ ...............
Z anesville A O h io—1st mort., gold ($25,000 p. mile)
CANALS.
A lbem arle A C hesapeake —Mortgage b o n d s ............
Chesapeake A Delaware —Stock...................................
1st mortgage (extended in 1886)...................... .
C hesapeake A Ohio—Stock............................................
Maryland loan, sinking fund.....................................
Guaranteed sterling loan...........................................
Bonds having next preference..................................
Repair bonds, Act 1878................................... .
D elaw are D ivision —Stock.............................................
1st mortgage (extended 20 years in 1878)............
D elaw are A H u d son —Stock..........................................
1st mortgage, registered............................................
Debenture loan o f 1894, coup and reg.................
1st M., coup. A reg., on Penn. Div. ($10,000,000)
Lehigh Coal A N avigation —Stock................................
Loan, couv., coup., gold (assumed L. A W. Coal Co)
1st mortgage, reg. (extended at 4 1« ) .......................
1st mortgage, registered, railroad...........................

326
326
326
104
51
122
94

48

1879
1879
1879
1884
1880
•••*
1873
1875
1874
1886

14
14
14
184
184
184
184
~60
60
148
148
339

1879
1856

••••
1858
187Ì
1874
1877
1869
1864
1867

....

$ ....
1,000
—
1,000
100
100 Ac.
500 Ac.
lOOOAc.
500 Ao.
1.000
100 Ac.
1,000
50
Vario’s
25
500 Ao.
500 Ao.
500 Ao.
'*5 0
1,000
100
1,000
1,000
lOOOAc.
50
500 Ao.
Var.
Var.

Packwaukee to Montello, 7 miles; operated under contract, Milwaukee
to Schlelsingerville, 33 miles. Total operated, 450 miles.
In January, 1879, the Wisconsin Central Road was taken possession of
by the trustees for bondholders, who still operate it. There is a land
grant o f over 800,000 acres. The reorganization was practically accom­
plished by oonsent, and only $247,000 old bonds are unassented. Liti­
gation Is pending as to $200,000 bonds in New York Court of Appeals,
as to preferences claimed by one holder. The scheme embraced the
issue o f a new consolidated mortgage to cover $400,000 5 per cent
preferred bonds; $3,800,000 first series bonds, now bearing 5 per c e n t ;
and $5,700,000 second series bonds, to draw interest if earned (but
not cumulative) at 7 per cent. Interest on the second series is
avable J. and J., but dependent each time on the net earnings of the
»If year ending six m onths before. The stock o f $11,435,500 remains,
$2,000,000 of it preferred and $9,435,500 common, and is all deposited
in trust with Stewart and Abbot, Trustees, to be voted on until all interest
is being earned and paid on new bonds, and in the Judgment o f the trus­
tees is likely to continue so to be. Trustees’ certificates for new stock
(without voting power) have been issued to the old stockholders, whioh
pass as a delivery on sales.
In March, 1882, the Trustees and Company leased for 99 years the
Milwaukee A Lake Winnebago R R , fro m Neenah to Schlelsingerville,
whioh was completed In December, 1882; the rental is 37*# per cent of
gross earnings up to *173,000 per year, all surplus to go equally to
lessor and lessee,and the bonds are issued subject to this lease. The Wis
A Minn, and Minn. 8t. Croix A Wisconsin RR.. built m 1884 gave impor­
tant extensions, reaching St. Paul from Abbottsford, via Chippewa Falls
159 miles. From Milwaukee this company makes use o f Chic. Mil. A
t. Pam tracks 24 miles; an extension from Schlelsingerville to Chicago,
116 miles, a new road finished in 1386, is known as the Chic. Wis? A
Minn., and is a close connecting line o f the Wis. Central, though the latter
is nor responsible for its obligations.
In Sept.. 1886, a circular was issued by Mr. E. H. Abbot, one o f the
stockholders o f Wis. Central, inviting them to subscribe
$1,500,000 cash for the securities o f the Penokee Railroad, about 50
r ilu J r ®
^ ? f ^
ae,9 (Bessemer) Mich, to Mellen on the Wis.
^ ’ P ;309-) 111 43, P- 48, is an abstract o f the annual
report for 1885. For three years the earnings, Ac., were
1883
-----1884.
1835.
Gross earnings................................... $1,447,798 $1,429,075 $1,461,004
Operating expenses..........................
973,732
957,745
941,881

E

t

Netearnings...............................
Bent is, ear service, license fee A txs

$474,065
351,405

$471,330
319,650

$519,123
310,406

B a la n c e .......................................
—(V. 43, p. 4 8 , 309. 432.)

$122,660

$151,679

$208,716

$360,000
3.800.000
5.700.000
2.600.000
810,000
640.000
2,8 HO 000
3,099,800
275.000
250.000
400.000
575.000
150.000
(?)

7

M.
J.
J.
M.
J.

6*
3
4
5
5
5
4
6g

a l a ' s N. Y o k, J. B Colgate March 1 ,1 9 1 6
J. A J
Worcester, Otttoe.
Jan 1 0 ,188 7
Various
do
do
(?)
A. A O. Bost., Globe Nat. Bank, April 1, 1893
F. A A.
do
do
Feb. 1, 1895
A. A O.
do
do
April 1, 1894
J. A J.
do
do
Jan. 1, 1906
F. A A. New York Agency.
Feb. 1. 1916

5
5
7

6

A
A
A
A
A

N
Boston, Office,
5 p.
J
do
J
do
N N.Y.,Farmers’ L-AT.Co.
J, N. York, J. B. Colgate.!Jan.

500.000
2,079,213
1.975.000
3,851,593

J. A J. N. Y ., Union Trust Co,
J. A D. Philadelphia, Office,
J. A J.
do
do
J. A J.
2 , 000,000
6
Q - J Balt., A. Brown A Sons
4.375.000
5
Q -J .
London.
1,699,500
6
J. A J. Balt., A. Brown A Sons.
314.000
6
J. A J. Balt., Farm.A Mech.Bk,
150,200
2
F. A A. Pkila., 226 So. 3d st.
800.000
6
J. A J.l
do
do
24,500,000
14» Q -M oh . N. Y ., Bk. o f Commeroe.
5.549.000
J. A J
7
do
do
4.829.000
7
A. A O. N. Y. Office A B k.of Com.
5.000. 000
7
AI. A S.
do
do
12,676,700
2
J. A D. Philadelphia, Office,
747,000
6 g. M. A S.
do
do
5.000.
000 4 ^
Q—J.
do
do
2.000.
000 6
Q -F .
do
do

a t yearly
1909
1914
1, 1910

July 1, 1909
July, 1916
1870
1890
1885
1898
Feb. 15, 1886
July 1. 1898
M’oh 15 ,188 7
1891
1894
Sept. 1, 1917
J.m e, 1386
1894
July 1, 1914
1897

dale, Pa., was completed in 1828. The com pany owns the follow ing
railroads, viz : Lackawanna A Susquehannah, Nineveh, N. Y., to Jeffer­
son Junotion, Pa., 22 m iles; Valley RR ., Carbondale to SorantonPa.,
47 miles; Union RR., Green Ridge to Mill Creek, Pa., 17 m iles; Ply­
mouth A Wilkesbarre RR. and bridge, 3 miles ; G ravity RR., Olyphant
to Honesdale, 56 miles; total owned, 114 m iles: track o f Jefferson RR.
used by contract, 35 miles ; total operated in Pennsylvania, 150 miles
This oompany is among the largest miners and carriers of anthracite coal,
The stock was Increased to $30,000,000 (of whioh $23,500,000 issued
to Jan. 1,1 886 ) to pay off the bonds due In 1884 and 1891. Of the
remaining $6,500,000, $1,000,000 will be issued in 1887, and $5,500,000
in 1891, to take up an equal amount of 7 per cent bonds. To share-----------------------------------------------------follow in g;
The President, in commenting upou the result of operations in 1886,
which showed a trifle over 5 per cent on the stock, s a y s : “ This result
Is better than could have been reasonably anticipated, considering the
very low price at which coal ruled for the larger part o f the year, and
could only have been reached by the exeroise o f strict eoonom y in the
various Dranohes o f the com pany’s service. A very marked im prove­
ment also in the business o f the leased lines has ai led the general out­
come, and the loss o f $313,329 oa these roa Is as reporte 1 for 1885 has
been reduced during the past year to the com paratively small sum of
$ ! 1,694.
Comparative statistics for four y e a rs:
PROFIT AND LOSS.
1883.
1884.
1885.
1886
Receipts —
$
$
dales o f c o a l...................... 9,575,362 8,213,157 7,201,019 7,399,093
Canal tolls
srro/in 51,551
e , et ,
’
tolls............................
52,403
47,240
58,410
Miscellaneous profits.........
287,018
436,929 )
633,867
Interest on Investm ents.. .
257,541
284.464 5 792,716
Coal on hand (Deo. 3 1 ) . . . .
745,436
892,804
649,905
332,653
Railroad earnings In Penn.
888,559
830,542
694,941
841,662
Profit on leased lines.......
1,905
.............
T o ta l...............................11,803,244 10,755,136
D isoursem ents —
$
<e
Coal on hand Jan. 1 ...........
492,924
745 436
Mining ooal.......................... 4,996,195 4,549,480
Joaltransportation, A c ...
811,873
557,500
Janal freight andjexpens as 1,642,844 1,455,805
interest. ........................... 1,321,941 1,198,885
Paxes and m iscellaneous.
546,624
585,416
Loss on leased railroads........................
174 490
Balance................
1,995,843 1,488,094

9,393,162
A
892,804
3,975,297
592,803
826,987
1,032,768
522,777
313,330
1,186,396

9,265,697
649,905
4,239,907
873,517
767,151
1,069,067
468,929
21,695
1,175,485

T o t a l............................11,808,244 10,755,136 9,393,162 9,265,687
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
Chicago over the Chicago A "toeaT w estem .Wi8C° n8il1 ° entra1’ and enter
.
.
1883.
1884.
1885.
1886.
A8
8
C
t8
—
$
i ^ o r c e *i® r
N a s h u a & R o c h e s t e r . —Owns from Worcester to
$
$
C
a
n
a
l......
.......................
6,339,210
6,339,210
6,339,210 6,339,210
w asform ed
\UlS fll’ hv1ii0ter‘
P 1’ consolidated com pany
6,957,188 6,468,684 7.134,018 7,257,329
W d ff iit K ilS
01 the
* Naataa a id l i Railroad and equipm ent..
Real estate
..................... 9,035,163 9,325,365 9,628,325 „9,725,394
„ t o ,™ * .
- ^ 0®tober, 1885, a lease o f this property for 50 years fro m Tan i
Mines and fix tu res............ 2,796,329 2,792,417 2,795,576 2 792 511
1886 was made to the Boston A Maine R R Co at a rental o f *2 n ) OOo Coal yard, barges, A o........
670,678
790,779 934,856 1,007,821
and taxes, a financial statement o f Jan 1, 1887 was ®n V
p 91
Lack. A Susquehanna R R .
1,022,938 1,022,938 1,022,938 1 022,938
Albany A Susq. R R ...........
520,164
on*the
road from Zanesville, O., to Harmar,
New York A Canada R R ..
3,597,074 3,5971074 3,597*074 3 ,597IÔ74
Cherry Val. A Sharon R R .
300,000 300,000 300,000
300 000
Meehan. A Ft. Edward R R
52,113
51,928
59,131
59 972
8
men.
A
Meehan.
R
R
.......
211,280
211,527
211,785
212,993
...
.
.
CANALS,
Coal on hand Dec. 3 1 .........
745,436
892,804
----------—
649,905
332,652
921,663 1,502,789
330,737
a n d M b « S o &and NSc P ' l ^ m i i ^ c J ^ 66^ ^ « » P e a k e Bay Advances to leased lines..
861,729
6A8.724 698,125
720,055
756,040
000; surplus overinterest, $5,000. Pres’t Marshall P a ^ s ^ n ^ i t ^ - 0,‘ Advances on coal royalties
Miscellaneous assets......... 3,944,549
3,372,061 2,740,040-2,586:396
relegraph and Car C o ....
69,410
43,035 43,035
14)735
Supplies,tools, Ac.,on hand
1,466,143 1,611,254 1,185,028 1,135 412
was t t S / r r 164 probably over $600?M 0, I n d to S ^ t l * t T R Cash and bills receivable.. 3,914,976 2,823,813 3,964,939 4,459)o07
Q“ e ^ ^ n
b o n T ^ m r i n / f n 1^ ? « 4 A " * and i88Ue fe « 0 0 ? 0 0 0
r Total aaaets................... 43,213,038 41,843,804 41,656,642 42,461,213
(Bee V 4 i p 367.) In th^ S
e n d ^ V a ^ S ,C° T » the « t i s s u e .
Liabilities—
*
$
*
$
were $210,894 and net *151 Q n
. ^Vr1’ 18S ?’ kr°ss receipts
$32 345. (V. : 2,pd 604; V 4 ^ 5 .2 2 , S i s ® * 119’ 621; m r p fi*
....................................20,000,000 23,500,000 23,500,000 24,500,000
v n S â n ..........................I ----- 18,763,000 13,378,000 15,378,000 15,378,000
State of*\Piu-yUin*
the Miscellaneous accou n ts... 2,444,732
__ ___
^
. assisted
»»Misted with
witn loans by
b y th
778,072
812,002
694 392
« nas long been unable
unable t,°„™
to meet
Its Interest.
intei— - In
suit against the eornnanvCmCmÎS^T
eet lts
Profit and loss.......................................... 2,005,306 2,187,732 1 9 66,6 40 1,888)821
ie
Court
(January,
1881)
declined
tc
receiver, but ordered the
18811 declined to appoint a
stated
times its
i receipts ^JTotal liabilities.............43,213,038 41,843,804 41,656,642 42,461,213
and payments. In July iiku^i>any
«4 a nto
Î ?report
i S ° r t aatt ^
atea times
again made
and sale o f the canal iA i Qjvr’ sapplication
•11 aÇ£ia
made for
for a receiver
B63 gross earnings. *$3
29,5/27
27;= net,
net $84,474 ; „ -J *?,6®6 miscellaneous assets include the follow ing : Sundry bonds,
in 1885, gross earnings w ire
329’5
*nid, *184,«67.
(V. 42Tp 575.) 133,929;
exPenses, inoludin
including interest 15/ A 545, 6,500 shares Albany A Susquehanna R R „ $650,000; 16,078
Paid,
$18'4,bb7.~(V;T2Tp."575.f
33’ 929: exPenses>
shares Rensselaer A Saratoga R R ., $1,607,800; sundry stocks, $256,050.
totereâ1onr b o ?d J 1|n d * 4 ~ ^ c e n t a°v£?™ *h 0oal * Navigation Co. at ¿ 4 3 335P' 167’ 1 8 6 : V .4 3 , P- 163, 398, 635; V. 44, p. 184, * 1 0 , 212,

S

é

S

r i ^

r t ^




c ° ai f f K

s s a

s &s

ü s s s ç

lo S o ït N .^ S ^ s !

£ N a v i g a t i o n .—The Central Railroad o f New Jersey
u Purchase 01 equipment) $2,310,000 of the gold loan due
w u t p i w n e r?e8i
Leh, « h & Susquehanna Railroad. The Lehigh A
Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897

INVESTORS’

lit)

SUPPLEMENT.

[V o l . X L IV .

Subscribers wilT confer a great favor by giving im m ediate notice of any error discovered in tbese Tables.
Bond«—Princi­
'
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles DftrLo Size, or
Am ount
When Where Payable, and by Stocks —Last
Rate
per
Par
of
of
For explanation o f column headings, &c., see notes
Outstanding
Payable
Whom.
Dividend.
Cent.
Canal. Bonds Value.
on first page o f tables.

L eh igh Coal <6 N avigation —(C on tin u ed )—

Mort. loan. g. ($2,810,000 assumed by other co’s.'
Consolidated m ortgage loan.....................................
Greenwood 2d m ortgage, reg. Extended, 18 77..
General m ortgage................ „ ....................................
M orris—Stock, consolidated.....................................
P ref rred stock.............................................................
New m ortgage (for $1,000.000)......... : ....................
Preferred stock scrip dividend................................
P en n ey Ivania—Stock......................................................
General m ortg., interest guar’d b y Penn. K R ....
S ch u ylk ill N a viga tion—S to c k , com m on.....................
Preferred stock............................................................
1st m ortgage, extended..............................................
2d m ortgage..................................................................
Mortgage bonds, coup, (payable b y P. & R .) .........
Im provement bonds....................................................
B oat and car loan, (payble by P. & R .)...................
Boat and car loan ( do
do ) ...................
S usqu eh an na —Maryland loan, 2d m ortgage............
Susquehanna Canal, comm on bonds, 3d m ort.......
do
pref. bonds, 1st m ort.............
do
pref., 1st T. W. priority b ’ds.
do
bonds o f 1 8 7 2 ,4th m ort.........

103
103
103
326
326
108

1867 $500&c.
1,000
1871
1872
1,000
1,000
1884
100
100
’76-’85 1,000
1869 various.
50
1,000
1870
50
50
1,000
....
1,000
187Ò
1863
1864
1839
1859
1884
1884
1872

1,000
1,000
1,000
1,000
500
500
1,000

and $771,000 (all) of the convertible gold loan due 1894. Bonds m atur­
ing 1884 were extended till 1914 at 4 Mi. The Board o f Managers’ re­
port for 1886 had the following statement of receipts and disbursements:
1886.
1885.
1884.
R eceipts—
From railroads and Nesque. Tunnel $1,458,200 $1,459,035 $1,464,381
50,220
65,971
97,969
Lehigh Canal, inoL water powers----11,038 def. 1,U95
58,951
Delaware Division Canal.....................
135,104
396,108
Net profit on Lehigh Coal.....................
370,101
R oyalty on coal mined by lessees,
80,797
52,524
63,330
revenue from rents, &o., & c.............
$2,048,551 $1,984,676 $1,728,507
D isbu rsem en ts —
General and legal expa n sés................
Rent and taxes Nesquehonlng Val. RR
Rent and taxes Delaware Div. Canal.
T a x e s .............. .......................................
Interest aooou nt....................................

Balance of earnings..............................
Less sink. fd. o f 10 p. o. p. ton on coal
Less depreo’n on coal, impr’ v’m’ts.&o.
T ota l.................................................

Dividends.......... .....................................
Rate o f dividend...........................

Balance to credit o f dlv’d fund Dec.31

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

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

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

$1,159,578 $1,119,027 $1,108,486
$888,973 $865.649 $620,021
$89,419
$93,558
$80,717
86,869
76.026
$156,743
$732,230
665,934

$180,427
$635,222
679,936

$89,419
$530,602
683,843

$1,398,164 $1,365,158 $1,214,445
$718,228 $681,315 $570,408
4*3
6
6

$679,936 $683,843 $644,037
The annual report for 1886 in Chronicle, V. 44, p. 274, sa id :
The earnings of the Lehigh & Susquehanna RR. system increased
$78,304 06, and were larger than in any year before, with the exception
o f 1883. The chief gain was in freight and express earnings, and, while
the system o f rai roads does not extend beyond Scranton, w « have been
able to get an increasing amount o f Northei n and Western business, as
w ell as to share in the increased volume o f local freight traffic, so that




$4.653,000
2,465,000
643,000
2,035 000
1,025,000
1,175,000
1,000,000
103.164
4,501,200
2,934,000
684,912
3,238,050
1,691,730
3,990,392
1,200,000
228,000
756,650
628,100
1,000,000
1,326,000
227,500
97,810
250,000

6 g.
7
7
4^2
2
5
7
7
6
35c.
70o.
6
6
6
6
6
7
6
6
6
6
7

J. & D. Philadelphia, Office.
do
do
J. & D.
F. & A.
do
do
Q.—F.
do
do
F. * A. Leh. Val. RR. Co., Phila
F. & A.
do
do
A. & 0 .
do
do
F. & A.
1 do
do

1897
June 1,1911
1892
1924
Feb. 7, 1887
Feb. 7. 1887
A pril 1 ,1 9 0 6
Feb., 1889

J. & J. Phila., 233 So. 4th St.
Philadelphia, Office.
do
do
do
do
Q .-M .
do
do
J. & J.
do
/ do
J. & J.
M. & N.
do
do
do
do
M. & N.
do
do
M. & N.
J. & J. Phila. and Baltimore.
do
do
J. & J.
do
do
¡J. & J.
do
do
!j . & J
do
do
J. & J.

.Tnly, 1910
Feb. 15 ,188 4
Feb. 15 ,188 4
March, 1897
1882 to 1907
1895
May, 1880
May, 1913
May, 1915
Jan., 1885
Jan. 1, 1918
Jan., 1894
Jan., 1894
Jan., 1902

notwithstand ng the steady decrease of freight rates for some years, our
earnings from this source have larg ly increased, having averaged in
the fo ir years 1875 to 1878 $278,324 09, in the four years 1879 to 1882,
$498.708 08, and in the four years 1833 to 1886, $729,579 51. The coal
tonnage also increased, being, with the exception of that of the year
1883, the largest that has ever passed over the road, aud only falling
«,9 94 tons below that o f 1883. Our to al revenue for 1886 was $1,728,507, a decrease since last year o f $258,168, which is more than ac­
counted for by the lessened profit on coal, which was $261,003. The
disbursements show a decrease of $10,540, and the remainder shows a
decrease of $245,627. From this remainder $89,418 has been deducted
for the coal sinking fund, and tw o dividends, one o f tw o and one-half
per cent and one o f tw o per cent, amounting together to $570,408, have
been paid, w hich drew on the dividend fund to the extent o f $39,806.
The work o f developing our coal lands has been pushed forw ard vigor­
ously through the year, and the rate of production of our mines can be
fully maintained during the coming season. ^V. 42, p. 2 4 1 ; V. 43, p.
634; V. 44, p. 2 7 4 .)
„
, ,
M o rris.—Leased April, 1871, to Lehigh Valley Railroad for 999
years. The lessees assume bonds and scrip, and pay 10 per cent per
annum on pref. stock and 4 per cent on consol, stock.
P en nsylvan ia..—W orked in interest of Pennsylvania RR ., w hich
uarantees interest on bonds. An old m ortgage balance of $67,000 is
ue in 1887. Earnings in 1886, $281,385; net, $79,537; interest, $170,640; loss, $91,103. Earnings in 1885, $274,207; net, $128,765; Interest,
$175,350; def., $46,584.
Sch u ylkill N avigation .—Leased from June 1 ,1 870 , to Philadel­
phia & Reading for 999 years. The unpaid rental by P. & R. to Deo.
s i , 1886, was $1,287,993. The P. & R. has paid some of the cou­
pons and purchased others, but in Dec., 1886, interest was not paid,
and in March, 1887, the P. & R. threatened to relinquish the canal
and withdraw its boats. The report for 1886 (V. 44, p. 210) gave a
statement o f the com pany’s relations to the P. <fc R. company ana a his­
tory o f its prosperity in form er years. The loss to the Reading in 188586 was $477,614; loss in 1884-85, $444,292.
S u sq u e h a n n a ,- Leased and operated b y Philadelphia & Reading
Railroad for interest on bonds and half of net earnings. Tho si »ok is ex­
changed for Phila. & Reading, tw o o f canal stock for one o f Reading,
The floating debt is considerable. Loss to Re ading in 1885-6, $239,784;
loss in 1884-5, $230,657.

f

MISCELLANEOUS

M a y , 1887.]

STOCKS

AND

BONDS.

Ill

Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In these Tables.
Bonds—Princi­
d e s c r ip t io n .
INTEREST OR DIVIDENDS.
Date Size, or
pal, When Due.
Amount
of
Par
For explanation o f column headings, &o., see notes on
Rate
per)
When
¡'Where
Payable,
and
by
Slocks —Last
first page o f tables.
Bonds Value. Outstanding Cent. Payable
whom .
Dividend.

$100

Adams Express —Stook.................................. .
A m erican Bell Telephone—S to o k . . . . - - - - . . . . . . . . .................
A m er. Tel. A Cable—Stook, guar. 5 by West. U nion...............
A m erican Coal (M a rylan d ) —Stook.. . . — ............
A m erican Cotton Oil TV««!-Certificates................................
A m erican Express —Stock.................................... .....................
O am eron Iron A Coal C o ........................... .
C anton C om pany —Stook (44,300 shares)................................
C entral A South A m eric tn T elegraph—Stook........................
C hartiers V alley Qas—Stook.....................................- .............
Colorado Coal A Iron —Stock......................- ....................... .

100
100
25

100
100
100
164*

1st oonsol. mortgage, gold.....................................................

1880

1st mort.. g., sink. I’d (on 13,351 a res I'd, mines A b’d’gs)
C onsolidation Coal o f M aryland —Stook............... .
1st mortgage, consolidated, convertible.. . . . . . . . . . . . . . . .
Consolidated C os ( N. T .)—S to ck ...............................................
BoDds, Municipal Qaslight C o............... - .............................
Bonds, Metropolitan Qaslight C o..........................................
Bonds. Knickerbocker Gaslight C o.......................................
C um berland Coal A Iro n —Stook............................................
Eguitable Qas L igh t Co .—Stook............... ............ .................
Bonds............... ............- .................................................- ........
Cold A Slock Telegraph -S to o k ..................................................
B o n d s ....... ............... ........... .......................... .....................
In tern a tion a l Ocean Telegraph —Stock....................................
Iow a RR . L a n d Co .—Stook...................... ...................... . . . . .
Ir o n Steamboat C om pany —Stook..........................................
Bonds.......................................................................................
L ehigh A W ilkesbarre Coal —S to o k ........................................ .
Sterling loan.....................................................................
Mortgage loans ($110,000 are 7 s ) ........................................
Consol, mort ($6,116,000 of this held by Cent, o f N. J.).

1887

Colum bus A H ockin g Coal A Iron Co . —Stook.................... .

100
100
100

1,000

100
1,000
100
1,000
100

1872

100
100
100

500

100
1881

'500

1875

1.000

$ 12, 000,000

9,802,100
14.000.
000
1.500.000
ft)
18.000.
000
3.000.
000
719,875
4,006.600
3.000. 000

10,000,000

3.499.000
4.700.000
1.000.
10.250.000
2,444,500
35,430,060
291.000
658.000
651.000
500.000
3 ,’ 00,000
1,000,000
5.000.
500.000
3.000.
769,100
2.000.
500.000
8.700.000
1.725.000
593,211
11.500.000

3

3
14*

2

Q.—M.
Q.—J.
Q.—M.
M. A S.

N. Y ., Company’s Offloe.
Boston, Compy’s Office.
N. Y., West. Union Tel.
N. Y., 1 Broadway.

J. A J. N. Y., Company’s Office.
l 1«
2*9

Q.-.T.
Q-—J.

Pittsburg.

Mar. 3,
April 15,
June l ,
Mar. 1 0 ,

1887
1887
1887
1887

July 1,1 8 8 7
A pril 1887
April, 1887

6 g.

F. & A. N.Y., Company’s Office. Feb. 1, 1900

000 6 g.
75o.

J. * ” j . N. Y., Central Trust Co. Jan. 1 ,1 9 1 7
N. Y., Co.’s Offloe, 71 B ’y Jan. 28, 1887
J. A J.
do
do
Jan. 1, 1897
Deo. 15, 1886
M."&
Farmers' Loan & Tr. Co. May 1, 1888
F. &
do
do
A ug 1, 1901
J. A
N. Y., Company’s Offloe. June 1, 1898
A. A
N. Y., 19 Oourtlaud St.
(i)
New York Offloe.
Q.—.
Jan. 15, 1887

6

l 1«
7

6
6
6
2

000 ï î f l

6

000 l ' a
2
000 3

6

"é*
6 &7
7

Q .-J . N. Y ., West. Union Tel. A prii *1,1887
M. & N.
do
do
Nov., 1887
Q .- J . N. Y ., West. Union Tel. A p r ili, 1887
M. & N. Boston, Treas. Offloe.
Nov. ', 1886
Nov. 1, 1886
J. A J . N. Y., First N a t Bank. J u l y l , 1901

Q.—M.

N. Y .. 160 Broadway,
do
do

1899
June i , )9 0 0

Adam s Express. —No reports; no information.
INCOME ACCOUNT.
Am erican B ell Telephone Co.—See report fo r the year ending
Deo. 31, 1886. in Chronicle, V. 44, p 433. In 1886 paid 16 per cent Net earnings...............................................
dividends, inducting an extra dividend ot 4 percent. (V. 42, p. 4 3 0 ; V. Add Income from inv estments, &o...............
41. p. 4 3 3 .)
T otal.........................................................
Am erican E xpress.—No reports.
...
Less Interest on bon ds.............................. .
American Telegraph Ac Cable Co.—Owns tw o cables between Less interest, discount and exchan ge...................

Sennon Cove, England, and Dover Bay, Nova Sootla. The stook of
$20,000,000 was 70 per cent paid up, and in April, 1882, a pooling ar­
rangement was made with the other oable companies fo r 38 years, by
which this company reoeives 22 *a Per cent o f oombined revenues while
both Its cables are working and 12*9 per cent if only one is w orking
which percentages hold good for one year after any breaking o f the
oables; if not repaired within that time the percentages are reduced
according to the tim e that the oables remain broken. Then this com ­
pany’s oables were leased to Western Union for 50 years, with a guar­
anty o f 5 per oent per annum on the stock issued—$14,OOo 000.
Am erican Coal.—There are mortgage bonds for $230,000. The
annual report for 1886 gave the following information : Incom e, 1886,
$444,839; total expenses and dividends, $442,857; balanoe. $1.981
—(V. 42. p. 2 7 1 : V. 44, p. 2 7 4 .)
Am erican Cotton Oil T ru st.—This is a “ Trust” form ed to con­
trol a large proportion o f the cotton seed oil mills o f the United States.
The Board o f Management consists o f nine trustees, o f whom three are
elected each year. The title deeds o f the several properties owned are
deposited with the trustees, who issue their trust certificates of $100
eaoh, and these are dealt in at the E x ch an ge. The certificates have
been Issued to the amount o f about $10,000,000, as repo ted but no
official statements are made, and no definite information regard­
ing the eonc ra is obtainable by outsiders. The Board of M ajagem ent
is composed o f John V. Lewis, W. P. Anderson, F. H. Baldwin, of Cincin
nati; W. H. Burnett, o f Chicago; J. W. Cochrane, o f Memphis; E. Urquart. Little Keck; J. Aldige. New Orleans ; Lyman Klapp, Providence,
R L; J L. M tcaulay, New York. The principal office o f the Trust is at
18 Broadway, New York. The officers are John V. Lew's, President • E
Urquart, Vice-President; J. L. Macaulay, Treasurer; Jules Aldige, Sec’ y"
Cameron Iron Ac Coal Co.—This com pauy was organized bv let­
ters patent of the State o f Pa., and filed its certificate D ec 7 1886
The iands and propeity are near Emporium, Pa , and form erly b longed
t^the Camenm ^Co .1 Co. Nicholas C. Miller, President, N. Y. See V.

Canton Company (B alt.)—The capital stock, b y changes made
subsequent to the original Issue, became praotioally only $16 25 n *r
■ W fl? arA’
redllped by purchase and cancellation to 44,300
«hares. A brief history of the company was given in V. 30, p. 117 The
company owned the stock of the Union RR Co and e u a r a n t i w i i t « W w i *

i s r f S ift'S 1

‘¥,5o?aSVe“

ERltoip’iS

1882, for $594,000. The Union RR. sinking fund o f $689,885 remained
C? ” b ™ i8 ? el? by
trustees till bonds have
J ffl£ F fÌ 6. Tv 4 2 ? ? 752y)' Th® to8t ° f Canton Co- bonds were paid

v^ueof l a n ^ o ^ r ^ ^ 1 3 ^ 2 5 5 , 4 0 ^ ’ l e r U % 5 3 7 ^
Pl*abeth, $ 1 6 i’950; Westfield, $26,307; F in w ood ? $193 361 • PlZinl
t
Somerville, $77,86 1; Clinton
$4,780; Bloomsbury, $2 6,34 5 : PhilllDsburir
oqq oq ? ’
Bonds Ao $25,883-’ fand c o n t r a c t s T i S

1885.
1886.
$227,373 $333,611
10,743
8.650
$238,116 $342,261.
299,940
209,940
2)432
„
,
$212,372 $209.040
Surplus.................................................................. sur.$25,744 $132,321
Increase in 1886 over 1885....................................
$106,577
Royalties earned and credited to coal, coke and
real estate capital accounts during the year,
included in operating expenses..........................
$64,846
$60,657
In the real estate department the earnings are w holly from rentals o f
houses, lands, &o., containing no receipts from land sales. (V. 42. n.
3 3 6 , 4 6 3 ; V. 44. p. 4 0 0 .
C olum bus Ac H o o k in g C o a l Ac Iro n Co.—The oom pany was
organized at Columbus, O., Jan. 26 ,188 3, aud Its general offices are at
Columbus,O.; Mr.Walter Crofts, President. The N.Y. offlo- Is at 10 Wall
St. Tne Central Trust Co. o f N. Y. is trustee of the m ortgage. The
oom pany owns large coal and Iron properties, with extensive works
thereon, in Ohio, and a full description o f these was published In the
Chronicle of Feb. 26, 1887, V. 44, p 278, The total property and
assets on Jan. 1,1 837 , as per balanoe sheet, were $5,657,535.
The gross earulngs, operating expenses and net earnings of the com ­
pany from March 1,1833, to January 1,1 887 , were as follows:
Date.
Gross earn’gs, Oper. Exp. Net earn’gs.
$
$
$
March 1, ’83, to April l, ’8 4 .. 1 ,‘'67.282 10 1,527,747 79 139.534 31
April 1, ’ 84. to April 1, '8 5 ..
8 0 0 ,5 -4 90
700,041 94 100,542 96
April 1, ’85, to April 1, ’8 6 .. 1,220,924 37 1.060,505 88 160.418 49
April 1 , ’86, to Jan. 1 . ’8 7 .. 1,050,172 70
919,882 81 139,239 87
Interest charges per aunum on bonds of $1,000,000, $69,000.
- ( V . 44, p. 278, 553.)
Consolidated. Gas o f New Y o r k , —This com pany was organized
Nov. I I , 1884, uuder chapter 367, laws of New York, 1884. The com ­
panies merged in it were the New York Gaslight, the Municipal Gaalght, the Metropolitan Gaslight, the Manhattan Gaslight and the Harlem
Gaslight. The total stock was $39,078,000, o f w hich $3,647,940 was
reserved for working oapital and for indebtedness of old com panies.
—(V . 4 2 ,p .2 2 , 215.)
C onsolidation Coal.—Annual report for 1886 was in V. 44, p. 210.
The gross receipts from mines, railroads, rents, 1885.
1886.
Ac (inel’g value of st’ok of ooalon hand), w ere.$2,055,313 $2,039,437
Tot. expen’s o f every kind (excl. of int. & sink, fa.,
but inol. steel r a ils * all extraordin’ry outlays). 1,750,772
1,783.442
Net receipts......................................................... $304,54u
$25V J35
Theint. and sink. fd. in 1886 took $16^,831; balance, surplus, $39,153.
Consolidated mortgage bonds are held to retire old bonus. This oom­
pany guarantees also 2d rnortg. bonds of the Cumberland A Pennsyl­
vania, and assumes $135,000 of the Union Mining Co.’s bonds. The
total bonded debt on lanus and railroads Is $2,417,500. (V. 42, p. 2 1 4 ,
V. 44, p. 2 1 0 .)
Equitable Gas L igh t C o . —Incorporated March 9, 1-8 2 . Owns

Graham, Presid nt.

S^

r^

S tA >

p

i

m

&

S

James A> Sorymseri Pres’t, N .Y .

S(V m43, p.S

S

t

t6 ; V 44 p

BOAnQi w Col? rado C o a lA ^ o n (^ . s S t e n o n - M ^ b ^ 0rli8’ a“ d tbe
earnings 2 d ¿ S

S

w

o l f e d . 111 V ‘ 44> P‘ 4° ° ’ * " * ■ * * « •

earnings and expenses .

-1885.Gross
Net

a
■

Ä
Ä

: : : : ®
S

i s

; : ;

f § » }
22 ; S

Total8.......................... $1,679,440




J -«»
$227,373

-1 8 8 6 .----------$1,197,270
690,083
24,953
5,140

$285,400
654,316
loss.97«
8,308
5,140

$1,917,449

$333,611

In tern ation al Ocean Telegraph C o.—The Western Union Co.
operates the line oy contract for 99 years from Jan. 1,1 882 , paying 6
per oent per year on stock.
G o l d Ac Stock Telegraph Co. —Operated by West. Un JPel Co. by
contract for 99 years from Jan. 1, ’82, at 6 per cant per annum on stock
and bonds.
I o w a R a i l r o a d L a n d . —The total land owned was 34.979 acres
March 31, 1886.
Iro n Steam boat Co.—Property consists of seven iron steam boats.
Bonds and stock listed in June, 1882. Stock, $2,000,000. Gross eam -

„ L e h i g h Ac W ilkesbarre C oal.—This oom pany was organized Feb.
6 ,1 8 7 4 . It is controlled by the Central RR. o f New Jersey through
ownership of a m ajority of the stock, and the Central of New Jersey
owns $6,116,000 of the consol, m ortgage bonds and $2,353,000 of the
incom e bonds. The L. A W. Coal Co. also assumes and counts as part o f
its funded debt $747,50o bonds due 1894, and $500,OcO bonds due 1897,
Lehigh Coal A Nav. Co. The oom pany was in receiver’s hands
with Central of New Jersey, and in March, 1882, the receiver was dis­
charged and property returned to its stockholders. Mr. W. H. Tillinghast, Pres t, N. Y. City. The annual report for 1886 was in V. 44, p. 274.
—(V .4 2 , p. 2 1 4 ; V. 44, p. 2 7 4 .)
f i l a r l p o s a L a n d Ac M i n i n g . —There are outstanding only 15,000
snares, the balance being ow ned by company. Litigation has been in
progress many years and nothing done on the estate.
, f i l a r y l a u d C o a l C o .—No late report. The business o f 1882 included
total shipments ot 97,777 tons.
The profit and loss account in 1882 was as follow s: Balanoe Jan, 1,

INVESTORS*

112

SUPPLEMENT.

[ V o l . X L IV .

S u bscribers w i l l co n fe r a gre a t fa v o r b y g iv in g Im m e d ia te n o tice o f a n y e rro r d isco vered In th ese T a b le s .
B on d s —Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Date Size, or
Amount
Stocks —Last
Where
Payable,
and
by
When
o
f
I
Par
For explanation o f column headings, Ac., see notes on first
Outstanding
Dividend.
Whom.
Payable
Bonds Value.
page o f tables.
L eh ig h A WilJcesbarre Ooal—( C on tin u ed ) —

Sundry mortgages ......... ....- - - - . . . ■••• . . . . . . . . .
Ino’ me bds,reg.(not cum.) $2,353,000 held b y Cent. N.J.
M a rip osa L a n d A M in in g —S t o c k ... ..... .............. ................
Preferred stock
Mortgage bonds.
MMaryland
a ryla n d Coal
—Stock___
<
B ond..................................
M exica n Telegraph —Stock
New C entra l C oal —S to c k ..____________
cen t....
N . F. M utual Telegraphy-Stock, guaranteed 0 per' <
1st m ortgage bonds, gold, guar, by West. U n io n ...........
Mew Y o rk <6 P e r r y C oal A ir o n Co.—S to ck .........................
Mew Y ork A Texas L a n d <L im ited ) —S to ck ............- .......... Land scrip receivable 75 per cent tor lands...................
Debentures, registered................................................. ...........
N orthw estern Telegraph —S tock..................... - ........ - ..............
Bonds, Interest guaranteed...................................................
O regon Im provem en t Co .—S tock....................
.......
1st M., gold. sink, fd., $309,000 held in s. f., butdraw int.
P a cific M ail Steam ship —Stock..................................................
P en n sylv a n ia Cool—Stock..........................................................
P h ila d elp h ia C om pany— (Natural Gas) S t o c k ...................
P osta l Telegraph A Cable C o —Stock ($21,000,000).............
1st m ortgage (for $10,000,000)........................................
P u llm a n P a la ce Oar —Stock......................................................
Bonds, 4th series..........................................................*...........
Bonds, debenture.......................... ..........................................
Q u icksilver M in in g —Common stock......... ..............................
Preferred 7 per cent stock, not cum ulative .............. . —
R a ilroa d E q u ip m en t Co.—Stock (for $1,500,000).
bonds. (See remarks below.).
Couponl 1

SlOOAc.
1875

100
100
1,000
100
1,000
100
100
25

1881

1,000
100
50

50
1880

Too

1,000
100
50
50

1872
1878

Var’s.

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

1882, $16,780; balance credit ooal account, $2
penses-interest, $7,091; Interest on bonds, $11.270;; taxes, $7,781 ;
salaries and expenses, $13,221 ; legal expenses, $501 $40,270; balance
Jan. 1,1 883 , $1,389.
M exican Telegrapli . —Company organized in 1878 under laws of
New Y ork State. Has a cable from Galveston to Tam pico and Vera
Cruz, 733 m iles; land line, Vera Cruz to M exico City, 267 miles,
Has exclusive right for 50 years for all foreign telegrams to Mexico,
except telegrams to and from a neutral zone on the Uni tea States
border 156 miles wide, between the Gulf and Pacific Ocean. Company
ow ns 1,362 shares o f the Central A South American Telegraph Co. R ev­
enues in ’ 86, $221.001; expenses, $59,290; dividends, 8 p._c., $ 1 1 4 .
752; surplus, $46,959; total surplus Dec. 31,1 8 3 6 , $68.745. Capital
»toon is $1,500,000. Jas. A. Scrymser, Prest., N. Y. (V. 42, p. 339 ; V.

44 p 274»)

New Central Coal ( M d . ) —The annual report for 1886 in V. 44, p.
274, showed net pro tits for year o f $ 7 ,8 1 8 ; and balance to credit o f
proAt and loss Deo. 31,1886, o f $252,684. (V. 42, p. 2 7 1 ; V. 44, p. 2 7 4 .)
New Y o rk M utual T elegraph .—The Mutual Union Telegraph
Co. was organized under New York State laws. Stock was $600,000 and
afterward Increased to $10,000,000. In Feb., 1893, a lease to Western
Union for 99 years was agreed to at l 1« per cent yearly dividends on
the stock and interest on the bonds. The organization was changed to
the New Y ork Mutual Telegraph Company and the stock was reduced to
$2. 500,000, carrying dividends o f 6 percent per annum.
N. Y , Sc Perry C o a l Sc Iro n C o .- T h i s com pany was organized
under the laws or New Y ork in June, 1885, as a reorganization o f the
N. Y. A Straltsville C >al A Iron Co., which was forecl -sed. T.ie assets,
as per balance sheet, on Nov. 1, 1886, were $1,816,698, and debts
^ ra d ica lly nothing. A fu 'l exhibit was published in the chronicle q
Feb. 26 ,183 7, (V. 44, p. 277. Offioe, 15 S:ate S t , N. Y. oity; C. R
Griegs, President.
. . . . . .
, .
N ew Y o r k Sc T ex a s L an d—This oom pany took the lands granted
to the International and Houston A Great Northern railroads, about
5.000,000 acres, which were given in settlement to the b o ld e is o f cqnvertible and 2d mort, bonds. June 30,1886, had 3,574,400 acres unsold.
_(V 44, p 527.)

N orthw estern T elegraph .—This com pany owns 8,000 miles of
w ire and is leased to Western Union for 99 years, with guaranteed divi­
dends of 4 per cent at first, rising one-eighth per cent a year to 6 in
1897 and afterward. The bond interest is guaranteed._____
Oregon Im provem ent C o .—This com pany owns $3,000,000stock
Of the Seattle Coal A Transp. Co.; $575,000 stock o f the Columbia &
Puget Sound RR.; $1,969.900 stock o f the Pacific Coast S. S. Co. ;
Floating debt Nov. 30, 1886, $ 7 0 -s,230, and assets $685,219. It is prop o ed to issue $2,0 >0.000 new stock, at j ar. to pay for improvements,
S o. (see V. 44, p. 654). For year ending Nov. 30, 18*6, gross earnings,
2 934,818 ; net. $7- 6.003. Gross earnings Deo l to Mar 31 in 18 36-8",
1.536.443, against $1,203,497 in 1885-6; net, $535,845, against $333,822. (it. 42, p. 125. 243, 365, 488. €04.72 8; V. 43, p. 49, 191, 3 0 8 ,
459, 5 7 9 ,7 4 6 ; V. 44; p. 91, 212, 054.)
P a c i f i c M a l l S t e a m s h i p .—The Pacific Railroads gave to the steam­
ship oompany a monthly subsidy o f $85,000 per m onth—this agree­
ment terminable on 30 days’ notice after Nov., 1885, and such notice
was given in Feb., 1886, and the agreement stoop -d. The annual report
fo r fiscal year ending April 30,188 6, was in the Chronicle, V. 42, p.
662. President, J, B. Houston, N. Y.
„„„„
. „
A t the annual meeting o f the stockholders in May, 1886, the follow
ing were re-elected directors fo r the en-mit. g ye tr : M essrs. Jay Gould.
Russell Sage, C. P. Huntington, Henry Hart, William Remsen, Edward
Lauterbach, J. W. Shaw ana J, B. Houston.
The follow ing is a statement o f the earnings and expenses for the
years ending A pril 30 :

f

EARNINGS.

A tlantic U n e .....................................
Panama U n e ....................................
Trans-Pacific U n e . . . . . . . . . . . . .......
Australian Line
Austral’ n and N. Zeal, subsidies..
Cent. Am. and Mexican subsidies..
Hawaiian Government su bsid y...
Interest and divs. on investments.
M iscellaneous...................................
E xchange . . . . . . ...............................

1884-85.
1883-84.
6991 >09 4 $1,0 6,172
1,848,781
1.790,9 27
1,547,225
1,251,762
159.066
369,288
87,366
180.190
100,250
105,500
2,667
5,500
1884-«5.
1883-81.
$14,766
$14,691
43,853
45,666
6.047
33,278

T ota l............................................. $4.787,899 $4,826,193 $4,479,939
EXPENSES.
1885-86
1 8 J4-85
1-83-84.
$608.065
$579.028
$5 7 »,125
Atlantio L in e ........ .................
1,080.241
1,100.504
1,167214
Panama Line............................
714,100
737,392
6 3 5 ,4 '9
Trans-Pacific L i n e ..................
149.490
408,324
194,718
Australian Liue ......................
457,36
413.185
392,785
A gencies....................................
170,19
184,309
214,4 »0
Miscellaneous expenses........
Total
........................... $3 3 9 4 .4 .9 $3,209.138 $3,179,454
Net earnings............................. $1.393,480 $>,617.055 $1,300,485
N o balance sheet to April 30, ’ 86, wa* given in the annual report :
-(V . 42, p. 126, 243, 6 6 2 ; V. 43, p. 368; V. 44, p. 212.)




$366.409
3.472.300

M. A N.

N. Y ., 160 Broadway,
do
do

J. A J.

New York.

May 1, 1888

10 , 000,000

5.000.
000
250.000
4.400.000
I 1«
7
161.000
1.434.400
21«
5.000.
000 1
3
2.500.000
5.000.
000 6
1.500.000
1*4
30
1.500.000
2.946.400
" l
35,000
2.500.000
25lS
1.180.000
7 g.
7.000.
000 4
5.000. 000
6 &•
20 , 000,000
1H
5.000.
000 4
1
6.500.000
7.000.
000
"*6*
3.000. 000
2
15,927,200
820,000
8
7
955.000
40c.
5,708,700
4.291.300
I 1«
21«
900.000
6
4.574.000

M .'Ä N. N. Y .. 135 Broadway.
Q .- J . N. Y., Company’s Office,
New York, Office.
J. 'Ä J. N. Y ., West. Un. Tel. Co,
M. A N. New York, 1st Nat. Bk
New York.

J a n .1, 1886
Jan. 1, 1376
N ov. 1, 1906
Apr. 9, 1887
M’ch l, 1887
Jan 1, 1837
May 1, 1911
Apr. 25 ,188 7
May, 1887

J. A J.
1900
J. A J.
J. A J. |N. Y . West. Un. Tel. Co. Jan. 1, 1887
do
do
I Jan. 1, 1904
Sept. 15, 1883
j. a ' d .
N.Y., Farmers’ L.AT.Co Dec. 1, 1910
Feb. 1, 1886
q! - f.
June 1, 1887
N. Y .. 1 Broadway.
M’thly
Apr. 2 0 ,1 8 8 7
Pittsburg.
Q —F. N.Y.Am. Exch. Nat. Bk.
Q.—F. N. Y., Farm L. A T. Co. May 16, 1887
Aug. 15, 1892
do
do
A. A O.
Oct. 15, 1888
do
do
May, 1882
Feb. 15,1887
Q .- F .
Quar’ly N,Y., Post, Martin A Co. May 1, 1887
Various.
do
do

P e n n s y lv a n ia C o a l.—Liabilities at a minimum, and quarterly
dividends of 4 per cent paid, with possible extras.
P h ila d e lp h ia C o m p a n y .—The oom pany was Incorporated by
special act in Pennsylvania. March 20, 1871, as the Empire Contract
Company, and after various changes to o t the present name June 11,
1884. It has absorbed a number o f different companies and oontrols a
large share o f the natural gas production about Pittsburg and vicinity,
owning or leasing 54,000 acres o f gas territory and about 350 miles of
pipes. The company began to pay dividends in Oot., 1885, and has
stnee then paid 1 per cent monthly.
For the six months ending Sept.
30 ,188 6, gr. ss earnings from gas and oil were $ '3 2 ,3 7 4 ; net, $512,
2 5 1 ; total disbursements, including dividends, $ 1 35,1 14; surplus,
$77,137. Geo. Westinghouse, Jr., President, Pittsburg.
P o s ta l T e le g r a p h Sc C a ble—Of the stock $7,000,000 Is out­
standing, $12,000,000 is held in trust, and balanoe remains
In treasury. Mr. J. W. Mackey is the President.
The name
o f the Postal Telegraph Co. was changed November, 1883.
(See V. 37, p. 564). The Postal Telegraph Company sold all its
property and franchises to the Postal Telegraph A Cable Co., which was
organized under the laws of this State expressly for this purpose.
Un May, 1885, receivers were appointed, and a scheme for reorganiza­
tion of the Postal Telegraph A Cable Co. was proposed, as stated in Y.
40, p. 626, 645, by which the com pany w ill have no bonded debt and
stook for $5,000.000 only. The preseat bonds will take new stock for
35 per cent of their face, and the old stook will receive 5 per cent of Its
amount in new. Foreclosure suit begun by Farmers’ Loan A Trust
Co- Nov., 1865. and sale took place Jan. 15,1886, for a nominal price of
$280,000. See V. 42, p. 94. (V, 42, p. 94; V. 43, p. 125.)
P u llm a n P a la c e C a r .—'T hestook has been increased from time to
time to provide new capital, as wanted, slnoe the price, ruling above
par. gave a bonns to stockholders when subscribing for new stock.
Annual report for year ending July, 31, ’86, was In Chronicle, V. 43,
p. 486. Incom e account for three years was as follow s:
R even ue —
1893-84.
1884-85.
1885-86.
Earnings (leased lines Included)........$3,912,510 $4,946,151 $5,075,383
Patent royalties, manuf. profits, Ac..
543,947
667,477
548,129
Total revenue.................................... 4,456,457 5,613,628 5,623,512
D isbu rsem en ts —
Oper. expenses, Ac. incl. leasedliues 1,316,387 1,949,655 2,057,627
Pa d other sleeping-oar associations
708,005
802,176
136,556
controlled and op era ted ............ .
162,529
66,000
264,000
Rentals of leased lines..........................
171,453
168,050
171,466
Coupon Interest on bon ds....................
Dividends on capital stock................... 1,339,621 1,273,962 1,274,028
100,000
103,003
Contingency accoun t.............................
35,733
Profit and loss..........................................................................................................
Total disbursements........................ 3,263,763 4,365,604 4,467,881
Net resu lt...................... ............ *........... 1,192,694 1,248,024 1,155,631
—(V. 42, p. 23, 4 8 6 .)
Q u ic k s ilv e r M in in g .—Bonds paid off July, 1879. The preferred
stock is entitled to 7 p. ct. per annum, not cumulative, and any surplus
goes to the comm on and preferred equally. A proposition in 1885 to
retire the preferred stock with an issue of bonds was abandoned. 8ee
annual report for 1385-86 in V. 43, p. 72, showing net incom e for the
year of $140,394; (V. 43, p. 72 .)
R a ilr o a d . E q u ip m e n t C o .—This oom pany leases equipment to
railroads on the “ Car Trust” plan, taking obligations o f the railroad coaipanies running not over ten years at the utmost, which cover the princi­
pal and interest of the special series of bonds issued b y the Equipment
Co. running for similar periods. The title remains in the lessor till last
payment is made, and then vests in the purchasing railroad. In the
meantime the title is held in trust for bondholders and the bonds are
virtually a m ortgage on the rolling stock, till paid off.
St. L o u is B r id g e Sc T u n n e l R a il r o a d .—The railroad and tunnel
were sold under the mortgage of 1873, July 1,1878. Foreclosure under
the first and second mortgages on the bridge was made Dee. 20,187 8.
On July 1, 1881, the bridge and Tunnel Railroad were leased to tbe Mo.
Paeifle and Wabash St. Louis A Pacific for the term o f their cor­
porate charters, on the terms following, viz.: Of the stock $2,490,000
first preferred, b y the terms of the lease, is guaranteed 6 per ce n t;
$3 000.000 second preferred is guaranteed 3 per cent per annum.
The railroad stock of $1,250,000 is guaranteed 6 per cent a year.
The whole annual charge for rentals is $670,000, one-half payable by
Missouri Pacific and one-half by Wabash. The comm on stock was held
by tbe London Reorganization Committee, and under the lease was
transferred to Mercantile Trust Company of N. Y. with power to vote
thereon. In the year ending Dec. 31,1885, gross earnings were $ 1,542,379 • fixed charges and guar, divi’ds, $373,522; surplus balance, $2,042.
In 1836 gross earnings, $1,5 >4,212; net, $936,799; charges, $>59,027;
deficit $ 22,2 . 8—caused by Southwest strike.
S te rlin g I r o n Sc R a i l w a y .—The property o f this company, in
Orange County N. Y „ (and a few acres in Rockland) consists of 25,u w
acres of land, with furnaces, Ac., having a capacity of 15,000 tons m
pig iron per year, and 7 1« miles of railroad, houses, Ac. The company
endorses the $471,674 bonds o f the Sterling Mountain Railway. A. w
Humphreys, President, 45 W ilia m Street, N. Y.

MISCELLANEOUS

M a t , 1887. J

STOCKS

AND

BONDS,

l i s

flmhscri1___ w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
Size, or
pal,When Due.
Date
Amount
Rate
per
When
Par
o
f
Stoclcs—L a st
Where
Payable
and
by
explanation o f oolumn headings, &o., see notes on first
Outstanding Cent. Payable
Bonds Value.
Dividend.
Whom.
"
page o f tables.
D E S C R IPT IO N .

gL L ou is B ridge * Tunnel RB.—Bridge stock, com m on.......

1st preferred stock, guar.........................................................
2d preferred stock, g u a r ... ..... . .........................................
1st mortgage, new, sinking fund.................
Tunnel RR. o f Bt. Louis, stock, guar............................. . . . .
Southern <t A tlan tic Telegraph —Stock (guar. 5 p er cent.)..
S terling Ir o n A R a ilw ay .—S to ck .............................................
Mortgage bonds, income, series “ B ” . . . . . . . . . . . . . . . . . . . . . .
Plain income bonds................................. ...............................
Sutro Tunnel —S t o c k .....-------- -------------------- . . . . . . . . . . ----Mortgage (no bonds)................ - - - - - - ....................................
Tennessee Coal Iron <t RR. C o —S t o c k .... - - - .......
1st and 2d M. bds Tenn. Coal & R R. Co., Traoy City Dlv.

S

TS„“,:,c?Srn. ^&iKacbVm,bw:6w):::i

1879

1880
1876

$100
100
100
1,000
25
50
500 Ac.
1,000
10

1877
1879
1879
1881
1382
1884
1883
1882
1887

So. Pitts.D lv. 1st mort. T. C. I. & RR. C o . . . . . .................
General mort. ($500,000) Tenn. C. I. & RR. C o .............
Pratt Coal A Iron Co., 1st mortgage, A la ...........................
Alice Furnace Co., 1st bonds..................- - - - - - - ..................
Comol. mort., gold, Birmingham, Ala., D iv ..........
United L in es Telegraph —S t o c k ..... . . . . . . . . . . . . . . . . .....••
1st mortgage (subject to old lien o f $ 3 0 0 ,0 0 0 ) ...........
2d mortgage tfor $3,600,000)................................................ 1885
United States E xpress —Stock............... . ..................................
Wells, F argo A C om pany E xpress —Stock................................
Western Onion Telegraph —Stock...........................- ................
Real estate bonds, gold, sinking fund.................................. 1872
Bonds, coup, or reg., sinking fund 1 per cent.................... 1875
Sterling bonds, coupon (sinking fund 1 p. ot. per annum) 1875

200 Ac.
1.000
1,000
1,000
1,000
1,000
1.000
1,000
....
100
100
100
1,000
1,000
£100Ao

Sutro T u n n e l*—Tunnel on Comstock Lode for facilitating raining
operations. Receipts in 1885-6 $204,819; expenses, $83,418 ; interest
paid, $121,534. Receipts in 1886-7 $266,553; expenses, $76,715; in­
terest paid, $13,964. Suit for foreclosure is pendiug. Overdue interest
about $675.681. (V. 43, p. 191; V. 44, p. 91.)
T e n n . C o a l I r o n A U K , C o .—'This com pany, organized in 1881,
has acquired the properties o t the Sewanee Mining Co., the Southern
States Coal Iron & Land Co., the Pratt Coal A Iron Co. in Alabama, and
other valuable properties consisting o f coal mines, iron mines, fou nd ­
ries, saw mills, Ac., Ao.. and large tracts o f coal and iron lands in T en­
nessee and Alabama See a full statement of the property in V. 44, p.
245. Enough o f the consol, and Birmingham Division bonds are re­
served to retire prior issues upon the respective properties. There are
also $167,000 o f the various issues held in sinking funds. In Oct., 1886.
the Nashv. Chat. A St. Louis RR. bought the twenty miles of road belong­
ing to the T. C. & I. Co., paying $500,000 6 per oent bonds for it. In
Dec., Is 86, stockholders o f record on the 22 d h ad the privilege of sub­
scribing for $1,000,000 consol, gold bonds at par, ex the July, 1887,
coupon, and with a bonus o f $3,000,000 in new stock, or 100 per cent
on prior h ldings. E. Easley, President, Pratt Mines, Ala. (V. 43, p.
431, 459. 5 18; V. 44, p. 91, 245, 204, 235, 2 4 5 . 401, 499.)
U n ited L in e s T e le g r a p h .—This company was formed in
August. 1885, as successor To the Bankers’ A Merchants* Tel., sold in
foreclosure July 31,1885, subject to prior mort. o f about $300,000. See
account of sale and list of property sold in Chronicle, V. 41, » . 122. In
Nov., 1886, C. P. Farrell o f N. Y. was appointed receiver o f the B. & M.
property in Pennsylvania, and afterward appointed for New Jersey
and Connecticut.
The Baukers’ A Merchants’ was sold in foreclosure July 31, 1885
(see V. 41, p. 122), and the plan o f reorganization embraced the
following p oints: The formation o f a successor com pany with a capi­
tal stock o f not more than $3,000,000. First m ortgage by the new
company on all o f the property under which not more than $1,200,000 of Donds are to be issued, with interest thereon at 6 per cent.
Second mortgage by the new company on all o f the property under
which not more than $3,600,000 o f bonds are to be issued; the interest
on these second mortgage bonds, however, is not to begin to run until
the 1st ot January, 1887, and then for the first two years only at 3 per
cent, for the next two years at 4 per cent, and thereafter at 5 per oent.
The general mortgage bonds outstanding were to receive a new $500
bond for each $l,OoO bond, being scaled one-half. The stock to receive
one new share in exchange for four old shares. (See I nvestors’ Sup­
plement of Dec., 1886, ana prior issues, for further information.)
The lines have been operated under contract by the Postal Telegr’ h Co.
V. 42, p. 94, 207 ; V. 43, p. 66 ,164 , 264, 387, 488, 546, t08, 693.)
U n ite d . S ta te s E x p r e s s .—No reports. (V. 42, p. 632.)
W e l l s , F a r g o dc C o m p a n y E x p r e s s .—A n increase in capital to
$6,250,000 was made in 1879. No reports.
W 'e s te r u U n i o n T e l e g r a p h .—On the practical consolidation with
the Atlantic & Pacific in 1878 the Western Union had a m onopoly of tele­
graphing business in the United States. In 1879 the American Union
opposition line was started under the auspices o f Mr. Jay Gould. The
Western Union Co. divided up its surplus stock, making a scrip dividend
o f 17 per cent to stockholders o f record June 20, 1879. On Jan. 19,
1881, was dated the grand consolidation, in which the Western Union
raised its stock to $80.000.000, giving par. or $15,000,000. for the stock
and bonds o f the American U nion; 60 per cent for old Atlantic A Pacific
Btock was given in new Western Union; and a stock distribution of 38
per cent to Western Union shareholders. A n injunction was obtained
against the stock distribution and litigation ensued, and the stock
dividend was finally held to be legal by the N. Y. Court of Appeals in

UOlODCr. looo.

, The Mutual Union Telegraph made an opposition line, but in February,
1883, a leasewas agreed upon. The Western Union also leases the Amer
aguarftntee °* 5 per oent per annum on its stock of
In March, 1886, the company decided to pay the April dividend o f l^a
p ercen t in scrip, as per statement in V. 42, p. 339, and in March. 1887,
Jisue4$1.-00,000 stock to take up this scrip, and new bonds
rentals^
stocks o f several o f the leased lines having guaranteed
The statement for the Quarter ending Mar. 31, 1887 (partly estimated),
1 ^ 3 6 ^ Allow s, compared with the actual figures fo r same quarter in
Quarter ending March 31Actual, 1886
Estimated, 1887.
Quarter ending Mar. 31.—
Net revenue.................
Deduct—
.............................................
S S
£ ? J 0lldeJ......................$123,615
Sinking fund...............................
19,991
Net.....
in................................................
co m e ....
Less dividend ( l 1* p.c. in scrip).......

ss'tko d , .
$750,816

$750,000

$123,470
20,000
143,606-

143,470

85607 24.0
$ 1, 199,852

$606,530

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

sur. $606,530




$2,500,000
2,490,000
3,000,000
1*3
5,000,000
7 g1,250,000
3
2 k!
948,875
2,300,000
418,000
7*
495,575
6
20,000,000
997,863
1
10.000,000
196.809
6
100,1 00
6
6
578,000
669,000
6
6
110,000
7
715,000
300,000
7
3,462,000
6 g3,000,000
6*
1,200,000
4, 5
(Î)
1
7,000,000
4
6,250,000
81,200,000 I *3 sorip.
1,373,000
7 g.
4,920,000
901.044
6 g.

J.
J.
A.
J.
A.

A
A
A
&
&

J. N. Y ., Drexel, M. & Co. Jan., 1887
J.
do
do
Jan., 1887
O. New York and London. April 1, 1928
J. N. Y ., Drexel, M. A Co. Jan. 1, 1887
O. N.Y., West. Union Tel.
April, 1887

Feb.

New York.

April 1, 1894
Oct. 1 ,1 8 9 6

London.
N. Y. Fourth Nat. Baule
New York City
A. A
N. Y ., 4th Nat. Bauk.
M. &
M. A
do
do
F. A
Central Trust Co.
N. Y ., 4th Nat. Bank.
J. &
M. A
N. Y ., Ceutral Tr. Co.
A. A
N.Y., Nat. Park Bank.
J. & J. N.Y., Fourth Nat.Bank.

Jan. 1,
May 14,
April 1,
M ay 1,
Nov. 1,
Feb. 1,
May 15,
Nov. 1,
April 1,
Jan. 1,

1st coup, due July 1, ’ 87
Q-—F.
New York, Offioe.
J. A J.
New York, Office.
New York, Office.
Q.—J.
M. & N. N. Y., Union Trust Co.
M. & N. N. Y ., Treasurer’s Office
M. A S. London. Morton. R.AOo

1915
May 15, 1887
dan., 1887
April 1 5 ,1 8 8 6
July 1 5 ,1 9 0 2
July 1 6 ,1 9 0 0
March 1 .1 9 0 0

1891
1887
1894
1894
1901
1902
1914
1903
1902
1917

----- Quarter ending March 31— --------Actual, 1886.
Estimated, 1887.
Add nominal surplus on Dec. 3 1 ..............$1,102.180

$6,171,810

Nominal surplus Mar. 3 1 ........................... $3,509,563
$8,778,340
From the annual report published in the Chronicle, V. 43. p.
458, the following is taken for the fiscal years ending June 3 0 ,1 8 3 6 .
The revenues, expenses and profits were as follows:
1883-84.
1884-85.
1885-86.
Revenues for the year .............. $19,632,940 $17,706,834 $16,298,639
E xpen ses —
Operating and gen. expenses .. $9,278,761
$8,544,554
$8,510,658
Rentals o f leased lines...............
1,842,690
1,822,543
1,89-',347
Maintenance A reconstruction.
1,350,448
1,146,871
1.273,125
T axes..............................................
301,077
301,732
499,592
Equipment of offices and wires.
249,528
190,210
203,061
Total expenses...................... $13,022,504 $12,005,910 $12,378,783
Profits..................................... $6,610,436
$5,700,925 $3,919,856
' D isbu rsem en ts —
For dividends............................... $5,599,179 $4,999,325
$3,399,573
For interest on bonds.................
472,350
495,072
494,461
F o r sinking funds......................
39,991
39,992
39,991
Total disbursements............ $6,111,520
Balance of profits................
$498,916
Surplus July 1 (begin’g o f y r .).. $3,658,553
Balance o f profits for year.......
498,916

$5,534,389
$3,934,025
$166,536 def $14,169
$4,157,469
$4.324,004
166,535
def. 14,169

Total nominal surplus June
30 (end of year)..............
$4,157,469
$4,324,004
$1,309,835
The report s a y s :
“ Whilst the volum e o f traffic has continued to increase, the tables
show a material reduction in revenues, principally in the cable, gold and
stock and commercial news earnings. It will be remembered that for
one-half of the previous year the cable rates were fifty cents per word,
with no competition; whilst during the year covered by the foregoing
statement there was active competition; and for a portion of the year
oable business was done at the twelve-cent rate, whfoh had not been in
operation long enough before the d ose o f the year to develop the large
increase in messages. Notwithstanding continued reductions in rates,
the earnings from land lines service have been well maintained, the fall­
ing off in earnings from messages transmitted over the land lines being
less than the increase from wire rentals. * * The average rate reoeived
for messages sent over the land lines operated by the company has been
reduced to 300(0 cents per message, whilst the average cost pertain­
ing to the conduct of the business o f the company in the transmission
and delivery o f messages is reduced to a fraction under 24 cents per
message, showing a reduction in the receipts of 12 io cents per message,
and a reduction in the cost o f handling message s precisely the same.
Of the increase of $373,000 in expenses, as compared with the previous
year, $198,000 was in the item of taxes, $70,00o in line recitals and the
remainder almost entirely in cable repairs.”
The range in prices o f stocks for a series of years has b e e n : In 1881,
7 7 ® 9 4 ; in 1882, 7 6 1s ® 9 3 38; in 1883. 7 1 % a 8 8 14 ; in 1884, 4 9 ® 7 8 1a;
in 1885,
in 1886, to May 20, 7 0 38 8 7 8 ,c.
The following statement shows the mileage of lines and wires, number
of offices, and traffic o f the com pany, for each year from June 3 0 ,1 8 6 6 ,
to June 30. 1 8 86:
’
’
Miles o f Miles o f No. of
\
Year. Poles & CTbl’s. Wire. Offices. Messages. Receipts.
Profits.
186566 . 37,38075,6862,250
$
186667.. 46,27085,2912,565 " 5,879*,28*2 6,568,925 2,624,919
186768.. 50,18397,5943,219
I
6,404,595
7,004,560 2,641,710
186869.. 52,099 104,584
3,607
7,934,933
7,316,918 2,748,801
1869-70.. 54,109 112,191 3,972 9,157,646 7,138,737 2,227,965
1870- 71.. 56,032 121,151 4,606 10,646,077 7,637,448 2,532,661
1871- 72.. 62,033 137,190 5,237 12,444,499
8,457,095 2,790,232
1872-73.. 65,757 154,472 5,740 14,456,832 9,333,018 2,757,962
1873- 74.. 71,585 175,735 6,188 16,329,256 9,262,653 2,506,920
1874- 75.. 72,833 179,496 6,565 17,153,710 9,564,574 3,229,157
1875-76.. 73,532 183,832 7,072 18,729,567 10,034,983 3,399,509
1876- 77.. 76,955 194,323 7,500 21,158,941
9,812,352 3,140,127
1877- 78.. 81,002 206,202 8,014 23,918,894 9,861,355 3,551,542
1878- 79.. 82,987 211,566 8,534 25,070,106 10,960,640 4,800,440
1879-80.. 85,645 233.534 9,077 29,215,509 12,782,894 5,833,937
1880-81..110,340 327,1711(V737 32,500,000 14,393,543 5,908,279
1881- 82.. 131.060 374,368 12,068 38,842,247 17,114,165 7,118,070
188283..144,294 432,726 12,917
41,181,177 19,454,902 7,660,350
1883- 84.. 145,037 450,57113,761 42,076,226 19,632,939 6,610,435
1884-85.-147,500 462,283 14,184 42,096,583 17,706,833 5,700,924
188586.. 151,832 4S9,607 15,142
43,289,807 16,298,633 3,919,855
—(V. 42, p. 3 3 9,72 9; V. 43, p. 309, 4 5 8 , 719; V. 44, p. 344,495, 553.)

BANK, GAS, INSURANCE AND CITY RAILROAD STOCKS
BANK

Companies.

Capitai..

Mkd. thus!*)
are not Natl. Par Amount.

STOCK

LIST.

Surplus
dates.t

INSURANCE

D ividends.
Period. 1885. 1886.

$
$
America*... 100 3,000,000 1,646.400 J. & J.
Am. E xch .J 100 5,000,000 1,396,100 M. & N.
Bowery
100 250,000 333,900 J. & J.
Broadway.. 25 1,000,000 1,471,700 J. & J.
Butch’s’&Dr 25 300,000 278,400 J. & J.
Central....... 100 2,000,000 541.900 J. & J.
C hase. . . . . . . 100 300,000 221,700 J. & J.
Chatham.... 25 450,000 430,800 Q .- J .
Chemical... 100 300,000 5.035,700 Bi-m’ly.
Citizens’ . . . . 25 600,000 347,700 J. & J.
C ity.............. 100 1,000,000 2,013,800 M. & N.
Columbia*.. .. 200,000
29,200
Commerce.. 100,5,000,000 3,113,100 J. & J.
Commercial. . . . . 300,000
40,300
Continental. 100 1,000,000 281,100 J. & J.
Corn Exch.*. 100 1,000,000 1,046,500 F. & A.
East River . 25 250,000 149,300 J. & J.
11th Ward'. 25 100,000
97,COO J. & J.
Fifth........... 100 150.000 184,800 J. & J.
Fifth Ave*.. 100 100.000 580,500
First............ 100 500,000 5,260,600 Q.—J.
F ou rth ...... 100 3,200,000 1,310.100 J. & J.
Fulton........ 30 300,000 2*8,600 M. <fc N.
G alla tin . . . . 50 1,000,000 1,160,400 A. & O.
Garfield . . . . 50 200,000 149,800 J. & J.
Germ’nAm.* 75 750.000 179,900 F. & A.
Germ’n Ex.* 100 200.000 321.000 May.
Germania*.. 100 200,000 329.000 M. & N.
Greenwich*. 25 200,000
62,700 M. & N.
H anover.... 100 1,000,000 820,100 J. & J.
Home*........
100,000
37,600
Imp.& Trad. 100 1,500,000 3,276,800 J. & J.
I r v in g ......... 50 500,000 228,000 J. & J.
Leather Mfr. 100 600,000 500,700 J. & J.
Lincoln . . . . 100 300,000 111,800
Madis’n Sq.* 100 200,000
15,500 j . & j .
Manhattan * 50 2,050,000 936,900 F. & A.
M arket....... 100 500,000 446,800 J. & J.
Mechanics’ . 25 2,000,000 1,419,400 J. & J.
Mecli. & Tr* 25 200,000 1''4,500 J. & J.
Mercantile.. 100 1,000,000 478,100 J. & J.
Merchants’ . 50 2,000,000 715,500 J. & J.
Meroh. E x.. 50 600,000 134,100 J. & J.
Metropolis *. 100 300,000 341,300 J. & J.
Mt. Morris*. 100 100,000 115,900 J. & J.
Murr’y Hill* 50 100,000 201,500 Q —J.
Nassau*....... 100 500,000 122.500 M. & N.
New Y o rk .. 100 2,000,000 1,509,600 J. & J.
N. Y. County 100 200,000
43,400 J. & J.
100 300,000 111,700 F. & A.
100 750.000 244,400 J. & J.
Nine’th W’d*
100.000
6,400
N. America* 7Ó 700,000 280,500 J. & J.
North R iv’r* 30 240,000
77,700 J. & J.
Oriental*. . . 25 300,000 305,500 J. & J.
P aciflo* . . . . 50 422,700 255,200 Q .- F
P a r k ............ 100 2,000,000 1,718,700 J. & J.
People’s * . . . 25 200,000 160,600 J. & J.
Phenlx......... 20 1,000,000 264,000 J. & J.
Prod. Exch.* 100 1,000,000 154,000
Republio___ 100 1,500,000 696,500 j . '<&' j .
R iver Side*.
100,000
100
i o o 500,000 204,600 J. & J.
100 500,000 126,700 J. & J.
100 300,000
8 -.600 J. & J.
100 300,000 129.700 J. & J.
1Q0 500,000 242,400 J. & J.
S ix t h ........... 100 200,000
75,900 J. & J.
State o f N.Y* 100 1,200,000 415,400 M. & N.
T h ir d ........... 100 1,000,000 207,600 J. <fe J.
Tradesmen’s 40 1,000,000 240,600 J. & J.
Twelf.Ward*
100,000
9,200
U. States . . . ioV) 500,000 516,900 Q .- J .
W estern ___
1.200
1100 200.0001 14 .200 J. & j .

10
7
10
20
8
6
6
10
100
7
15
8
8
10
8
8
6
40
10-49
7
10
6
8
6
7
14
9
10
7^
8
8
7
6
7
3
7
6
16
8
10
8
6
7
6
8
10
9
8
10
6
3
6
8

Capital .
Latest.

Par.

3
8
8
8
3ia
6

8
8
8
6
6

Jan., ’87.
J a n ..’87.
J a n .,’ 87.
J a n .,’ 87.
Jan., ’87.
J a n , ’87.
May, ’87.
J a n .,’87.
Jan.,’87.

8

Api-., ’87, 2

10

J a n , ’87. 5

3
21«
3
5
4
4
4
3
3

LOCAL GAS COMPANIES’ STOCKS AND BONDS.
The follow in g is a list o f the stooks and bonds o f gas companies in
New York and Brooklyn, with details o f interest, dividends, &o.
Quotations fo r these will be found in the Commercial and F inancial
Chronicle each week.
Dividends and interest.
Par.

Amount.

Period.

o

c3
M

Date.

Brooklyn Gas-Light .................
25 2,000,000 Various 4 May 5, ’87
Citizens’ Gas-Light (Brooklyn)
20 1,200,000 Various 3 Jau., 1887
B onds............... ....................... 1,000 250,000 A. & O. 5
Consolidated Gas .....................
100 3543Ó000 J. & D. 11« Deo., Ì8 8 6
Jersey City & Hoboken............
20 756,000 Q.uar. 21« May, 1887
M etropolitan B ond s................. 1,000 700,000 F. & A. 3
1902
Mutual (N. Y .)............................
100 3,500,000 Quar. 2 Jan. 1887
B onds....................................... 1,000 1,50. >,000 M. & N. 3
1902
Nassau (B rooklyn)....................
25 1,000,000 Various 2 Apr. 1, ’87
Scrip.......................................... Varia.
700,000 M. & N. 21« May 1, ’ 87
People’s (B rooklyn)...................
10 1,000,000 Quar. 11« Men.. 1887
Bonds, 7 per cent ................. 1,000 400,000 M. & N. 31«,May 1. ’87
Bonds, 6 per cent................... Varis.
100,000 A. & O. 3 Apr. 1, ’ 87
William sburgli............................
50 1,000,000 Quar. 3 May 2o,’ 87
B onds....................................... 1,000 1.000,000 A. & O. 3
Ì89 9
Metropolitan (B ro o k ly n ).........
100 1,000.000 J. & J. 3 Jan., 1887
Municipal B onds......................
I,0u 0 750 000 M. & N. 31«
1899
Fulton M u n icip a l.....................
100 3,000,000
3 Apr. 15,’ 87
B onds....... ...............................
J. & J.
Equitable.....................................
100 2,000,000
2 Apr. 1, ’87
■Bonds....................................... 1,000 1.« 00.000 F. & A. 6
1900




Net
D ividends.
Surplus,
ja n . i ,
1887.* 1884. 1885. 1886. Last Paid.

$
$
Jan., ’87. 4
Am erican). .. 50
400,000 701,272 10
10
10
Jan., ’87. 5
May, ‘87. 31« 1Amer. E xeh. 100
206,000
25.736 10
10
8
Jan., ’87. 4
Jan., ’87. 6
B o w e r y ........ 25
300,000 278,683 12
12
12
Jan., ’87. 6
Jan., ’ 87. 8
B roa d w a y ... 25
200,000 340,583 14
13
12
Feb., ’87. 6
Jan., ’87. 4
B rooklyn (J). 17
153,000 256,686 15
15
15
J a n , ’87. 7
Jan., ’ 87. 4
Citizens’ . . . t 20
300,000 329,1 0 10
6-50 6 50 J a n .,’87. 31«
Jan., '87. 3
210,000 174,118 10
C ity ............... 70
9
8
F eb .,’87. 4
Apr., *87. 3
250,000
C linton......... 100
50,281 10
10
10
Jan., ’87. 5
May. 87. 15
Comm’ nw’tk 100
500,000
21,219
Jan., 87. 31« Continental t 100 1,000,000 1,374,856 15-40 15-40 15-40 .Tan., ’87.7-70
May,’ 87. 10
E a g le............ 40
300,000 660,579 15
15
15
A p r.,’87. 7 hi
Empire City. 100
200,000
87,200 6
6
6
Jan., ’87. 3 Lj
8 Jan., ’87. 4
E x ch a n ge. . . 30
200,010 113,924 7
7
Feb., ’87. 31«
F arra gu t___ 50
200,000 116,338 10
10
10
Jan., ’87. 5 ”
61« Jan., ’ 87. 4
Fire Ass’n . .. 100
200,000
29,632
10 Feb., ’87. 5
Firemen’s . .. 17
204,000
65,736 8
8
7
Jan., ’87. 4
8 Jan., ’87. 4
German A m . 100 1,000,000 2,344,273 14
14
15
Jan., ’87.10
8 Jan., ’87. 4
Germ ania. . . 50 1,000,000 638,083 10
10
10
J a n .,’ 87. 5
6 J a n , ’87. 3
G lobe............ 50
200,000 122,073 10
10
10
Jan., ’87. 5
G reen w ich .. 25
200,000 465,811 30
Jan., ’87. 5
10
10
40 Apr., ’ «7.10
Guardian___ 100
200,000
25,716 3
6
Jan., ’87. 3
6
8 Jan., ’ 87. 4
H a m ilton . . . 15
150,000 119,483 10
10
10
Jan., ’ 87. 5
7 May, ’87. SH H a n o v e r ___ 50 1,000,000 540,903 10
10
10
Jan., ’87. 5
10 Apr., ’87. 5
H om e............ 100 3,000,000 1.413,795 10
10
10
Jan., ’87. 5
H ow a rd ....... 40
400,000
81,393 none. none. 3
J a n .,’87. 3
6 Feb., ’87 3
Jefferson. ..t 30
200,010 277,382 10
10
10
Mar., ’87. 5
May, ’84. LO
Kings Co.(i)
20
150,000 184,065 20
20
20
Jan., ’87.10
9 May, ’87. 5
Knick’bock’ r 30
210,000
94,004 6
6
6
Jan., ’87. 3
6 May, ’ 87. 3
Lafayette (J) 50
150,000
64,755 10
8
Jan., ’87. 4
8
7 Jan., ’87. 31« Longlsl.(J) .t 50
300,000
47,402 10
10
Jan., ’87. 4
7
Mari.& Build. 100
200,000 187,338 6
6
8
A p r.,’87. 2
14 Jan., ’87. 7
Mech’nics’ (i) 50
250,000
24,794 10
5
J a n .,’85. 5
8 Jan., ’87. 4
Mercantile .. 50
200,000
21,307 3
6
6
Jan., ’ 87. 3
10 Jan., ’87. 5
M erchants’ .. 50
200,000
78,376 5
9
7
Jan., ’87. 3
M ontauk(i).. 50
200,000
38,403 10
10
10
J a n .,’ 87. 5
6 Jan., 87. 3
Nassau(i)___ 50
200,000 180,326 10
10
10
Jan., ’87. Ö
7 Feb., ’87. 3 1« N ational. . . . 371« 200,000
66,263 9
8
8
J a n .,’ 87. 4
8 Jan., ’ 87. 4
N.Y. Eq’table 35
210,000 327,913 12
12
12
Jan., ’ 87. 6
8 Jan., ’ 87. 4
N.Y. F ir e .... 100
200,000
90,677 8
8
Feb., ’87. 4
8 Jan., ’87. 51« Niagara ....... 50
500,000 489,340 10
10
10
Jan., ’87. 5
6 J a n , ’87. 3
North R iver. 25
350,000
78,846 8
6
8
A p r.,’ 87. 4
7 Jan., ’ 87. 31« P acific.......... 25
200,000 362,920 14
12
12
Jan., ’ 87. 6
6 J a n , '87. 3
Park.............. 100
200,000
41,150 10
10
10
J a n .,’ 87. 5
7»fl Jan., ’87. 4
People’s ....... 50
200,000
62,617 10
10
10
Jan., ’87. 5
6 Jan., ’87. 3
Peter Cooper 20
150,000 214,760 12
12
12
J a n .,’ 87 6
16 Apr., ’87. 4
P hen ix(t)___ 50 1,000,000 557,086 10
10
10
J a n .,’87. 5
8 May, ’87. 4
200,000 167,242 11
Rutgers’ ....... 25
10
10
J a n .,'87. 5
10 Jan., ’87. 5
Standard .. . 50
200,000 145,257 7
7
7
J a n .,’87. 31«
8 Jan., ’87. 4
Sterling........ 100
350,000
10,517 4
none. 2-50 Aug.,’86. 21«
6 Feb., ’87. 3
Stuyvesant.. 25
200,000 107,671 10
9
10
J a n .,’87. 5
7 Jan. ’87. 31« Unit’d States 25
250,000 260,293 10
10
10
Jan., ’ 87. 6
Westchester. 10
300,000 310,510 10
10
10
F e b .,’87. 5
6 Jan., ’ 87. 3
250,000 563,246 20
W’m sbgC .(t) 50
20
20
Jan., ’ 87.10
8
4
* Over all liabilities, including re-insuranoe, capital and scrip,
10 JanM’ 87. 5
t Surplus includes scrip.
({) Brooklyn.
8 May, ’87. 2
8 J a n , ’87. 4
10 Jan., ’87. 5
CITY HORSE RAILROAD STOCKS AND BONDS6 J a n .,’ 87. 3
7 A p r.,’ 87. 2
Dividends and interest.
6 J a n .,’87. 3

t May 13, 1887, for National banks and March 12, 1887, for 8tate
banks.

Gas Companies.

STOCK LIST.

8
7
10
20
8
7
6
14
100
7
15

6
5
6

ÏÔ

Amount.

[ V o l . X L IV .

R ailroads.
Atlantio A venue (B rooklyn)..
B o n d s ......................................
Bleecker St. & Fult. F.—Stock.
1st m ortgage...........................
Broadway & 7th A ve.—Stock.
1st m ortgage...........................
2d m ortgage...........................
Broadway (B rook ly n )..............
1st m ortgage...........................
2d m ortgage............................
B rooklyn City—Stock................
1st m ortgage...........................
Brooklyn City & Newtown ...
1st m ortgage...........................
B rooklyn Crosstown—S tock ...
1st mortgage b on d s...............
Bushwick Av. (Brooklyn)—Stk
1st m ortgage...................
Central Crosstown—Stock
1st m ortgage...................
Cent. Park if. <&E. Riv.—Stock
Consol, mortgage bon ds.......
Christopher & 10th St.—Stock.
B onds.................................... .
Coney Island & B r o o k ly n .......
3d m ortgage..
C onsolidated.
D. D. E. B. & Battery—S tock..
1st mortgage, consol..............
S c r ip ........................................
Eighth Avenue—Stock..............
S c r ip ........................................
42d & Grand St. Ferry—Stock.
1st m ortgage...........................
Grand St. & Newtown (Bk’lyn)
1st m ortgage...........................
Houst. W. St. & Pav. F ’y —Stk.
1st m ortgage...........................
Ninth Avenue............................
Second Avenue—Stock . . . . ___
1st m ortgage............ ...... ........
Consol....... ...............................
Sixth Avenue—S t o c k ...............
1st m ortgage...........................
Third Avenue—Stock............ .
Bonds..... ...............................
Twenty-Third S tr e e t-S to ck ...
1st mortgage ..........................

Par.

Amount.

Period.

|Rate.

114

Date.
*

50 $700,000 Q’rt’rly. 2 Jan., 1887
1,000 500,000
5-7 1 8 8 5 & ’94
100 900,000 J. & J. % Jan., 1887
1,000 700,000 J. & j . 7 July, 1900
10012,100,000 Q.—J. 3 Jan., 1886
1,000 1,500,000 J. & D. 5 Juné, 1904
1,000 500,000 J. & J. 5
1914
100 525,000
3 July, 1886
1,000 250,000
7
1889
1,000 100.000
6
1889
10 2,000,000 Q .-F . 2 May, 1887
1,000 800,000 J. & J. 5 Jan., 1902
100 1,000,000
I 1«
1,000 400,000
7
1890
100 200,000 A. & Ò. 4 Apr., 1887
1,000 400,000 J. & J. 7
1888
100 500,000 Q.—F. 2 Aug.,1886
1,000 400,000 J. & J. 6
1902
100 600,000 Q .-J . lût Apr., 1887
1,000 250,000 M. & N. 6 Nov., 1922
100 1,800,000 Q —J. l 1« Apr., 1887
1,00011,200,000 J. & D. 7 Dee. 1902
100 650,000 Q .- F . 1 1% A pr., 1887
1,000 100,000 A. & 0 . 7
1898
100 500,000
3 Aug., 1884
1,000
75,000 J. & J. 7
1887
1,000 125,000 J. & J. 5
1903
100 1,200,000 Q —F. 2 May, 1887
500 &c 900,000 J. & D. 7 Juné,1893
100 1,200,000 F. & A. 6 Feb., 1914
100 1,000,000 Q.—J. lh5 Api., 1887
100 1,000,000 F. & A. 6
1914
100 748,000 Q .-F . 21« Feb., 1887
1,000 236,000 A. & O. 7 Apr., 1893
100 170,000
21« Jan., 1886
1,000 175,000 F. & A. 7
1896
100 250,000 Q.—F. 2 Feb., 1886
500 500,000 J. & J. 7 July, 1894
100 800,000
3 Mar., 1886
100 1,862,000 J. & j . 5 [Jan., 1887
1,000 400,000 M. & N. 5 Nov., 1909
1,000 1,050,000 M. & N. 7 May, 1888
100 1,500,000 F. & A. 2 Apr., 1887
1,000 500,000 J. & J. 7 July, 1890
100 2.000,000 Q.—F. 3 Feb., 1886
1,000 2,000,000 J. & J. 7 Jan., 1890
100 600,000 F. & A 21« May, 1887
1,000] 250,000 M. & N. 7 May, 1893
* This column shows last dividend on »lock », and date of maturity
o f bonds.

MONTHLY
1Ja n .

A la b a m a G r e a t S o u th e rn --

«

EARNINGS

Feb.
«

84.595
.)..
88,813
.)..
104,791
94,152
127,791
.)..

82,451
89.370
98,450
90,391
124.505

1.005.794
1,173,843
1.115,093
1 802,203
...(9.44a m.: . 1,312,592

1.033.534
1,107,020
1.004,748
1,067,407
1,280,163

1883
......................................... (396 m
1884
......................................... (298 m
.........
(296 n i.) .1
1883
188H...............................................(296 in .) .
1887
..........................................(298.m

Atchison T o p e k a Sc S an ta Fe—
1833..........................................<2,219 m .)
1884
............ (2,239 to 2,340 ra )
............(2,3 <5 to 2,390